04:37 (GMT +7) - Tuesday 25/02/2020


March 6

Released at: 11:40, 06/03/2018 PRESS WATCH

March 6

VET's round-up of news from Vietnamese media for March 6.

VRG to equitize in Q2

The Ministry of Agriculture and Rural Development will complete the equitization of the Vietnam Rubber Group (VRG) in the second quarter and hand over its management to the new State Capital Management Committee. At a press conference on March 2, Deputy Minister of Agriculture and Rural Development Ha Cong Tuan said VRG earlier held an initial public offering (IPO) but sold just 2 per cent of shares; much lower than the expected 11.88 per cent. The Ministry has plans to offer 1.24 per cent of VRG shares to its workers and strategic investors.

Vietnam Expo 2018 in Hanoi in mid-April

The 28th Vietnam International Trade Fair - Vietnam Expo 2018, with the theme “Enhancing Regional and Global Economic Links”, will be held in Hanoi from April 11 to 14. On display will be various products such as machinery and equipment, construction and building materials, electrical goods, electronics, information and technology, food and beverages, agricultural products, appliances, and healthcare products and services from 450 enterprises in 16 cities and provinces in Vietnam and 23 countries and territories around the world, such as Russia, South RoK, China, Nepal, Thailand, Japan, Singapore, Cuba, Laos, and Cambodia.

WB project to assist industrial enterprises with energy efficiency

The World Bank (WB) and the Ministry of Industry and Trade (MoIT) launched a project on March 5 to support Vietnam’s industrial businesses adopt energy-efficient technologies and practices. The total cost of the project is $158 million, with $101.7 million coming in loans from the WB and the remainder from the Vietnamese Government, participating financial institutions, and industrial businesses.

Vingroup & TH True Milk to invest in ginseng and herb farms

Vingroup and TH True Milk have registered to invest VND1.2 trillion ($53 million) in ginseng and herb farm projects in mountainous Nam Tra My district in central Quang Nam province. Chairman of the District People’s Committee Ho Quang Buu said the are the two largest investment projects since the district launched its master plan on the development of Ngoc Linh ginseng, cinnamon and herbs in 2014.

Vietnam may lodge case with WTO over US steel tariffs

The Vietnam Steel Association (VSA) has said that it and Vietnamese steel firms may submit a case to the WTO in the wake of US plans to place tariffs on steel and aluminum products, if necessary. The VSA said after the announcement on March 2 by President Donald Trump about the tariffs that it is working with State agencies such as the Vietnam Competition Authority and the Ministry of Industry and Trade’s Import-Export Department as well as enterprises to roll out measures to timely respond and reduce risks for Vietnamese steel makers.

Central Group to expand in Vietnam

Mr. Toshiya Chirativat, Group Managing Director of the Thai Group, said the Central Group plans to invest 47.5 billion baht ($1.51 billion) on opening more stores in Thailand and Vietnam this year. By 2022, the group plans to have more than 7,500 stores in Thailand, up from the current 4,970 stores, and open more than 500 stores in Vietnam to reach about 750. The Group did not provide any details about the investment over the next five years to 2022. It is aiming for 14 per cent revenue growth this year.

Changes at top at Nam A Bank

Nam A Bank’s Board of Directors has appointed Mr. Tran Ngoc Tam, Deputy General Director, to the position of General Director, from March 5, after CEO Luong Cam Tu resigned.

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