09:13 (GMT +7) - Sunday 23/09/2018

PRESS WATCH

March 27

Released at: 12:03, 27/03/2018 PRESS WATCH

March 27

VET's round-up of news from Vietnamese media for March 27.

Vanilla Air ends Vietnam flights

Japan’s budget airline Vanilla Air has issued a statement announcing the cessation of all flights to Vietnam from April 26. The move comes just three days after Ana Holdings, the parent company of All Nippon Airways, Peach Aviation, and Vanilla Air announced the merger of Vanilla Air and Peach Aviation by the end of 2019. “We chose this option to survive the fierce competition,” Peach Aviation’s CEO told Japan Times.


Young Japanese like Hanoi

Hanoi is among the top three favorite cities to travel for young Japanese people, according to a survey released at a recent investment and trade cooperation promotion conference between Hanoi and Japan. A huge number of Japanese people have travelled abroad in recent years, with the figure topping 18 million in the last several years, making Japan one of the biggest source markets worldwide.


Startup decree issued

Decree No. 38/2018/ND-CP has been issued by the government, providing detailed guidance on investments by small and medium-sized startups. It provides guidance on investment, establishment, organization, and management for innovative startup investment funds and mechanisms for using local budgets to invest in small and medium-sized startups.


US investor looking at Thanh Hoa food processing park

Kachay Global Development Inc. from the US is looking to develop a food processing industrial park with initial investment capital of $100 million at the Lam Son - Sao Vang Hi-Tech Agricultural Park in the north-central province of Thanh Hoa. Speaking at a working session with leaders from the Thanh Hoa Provincial People’s Committee, Mr. Samuel Karp, Chairman of the Board of Directors at Kachay Global, said the agricultural park is an ideal investment destination. Along with the food industry project covering an area of 200 ha, it also plans to invest in an additional 800 ha area to build a hospital, a tourism center, and apartments, and hopes to attract secondary investors to the park.

Eximbank shares tumbling on back of scandal

At the end of the afternoon session on March 26, Eximbank shares (EIB) had fallen to VND14,100; their lowest level since the announcement that VND245 billion ($10.8 million) was missing from the savings of customer Chu Thi Binh. With more than 1.23 billion shares listed on the Ho Chi Minh Stock Exchange (HSX), EIB’s capitalization has now fallen by an estimated VND800 billion ($35.2 million), to VND17.42 trillion ($767.4 million).


2017 phone and component exports up 32%

According to the Ministry of Industry and Trade, the export value of telephones and components in 2017 was $45.27 billion, up 31.9 per cent against 2016 and accounting for 21.15 per cent of total export revenue.

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