19:54 (GMT +7) - Monday 10/12/2018


November 10

Released at: 15:16, 10/11/2017 PRESS WATCH

November 10

VET's round-up of news from Vietnamese media for November 10.

Viettel Global heading to UPCoM

The Viettel Global Investment JSC (Viettel Global) has recently approved resolutions of the centralized securities depository and the registration for trading of all shares on UPCoM. General Director Le Dang Dung was assigned to perform the task. The company will list more than 2.24 billion shares and overtake Vietnam Airlines as the largest chartered company on the floor. The official time has not yet been announced.

Nguyen Kim to buy Lam Dong Pharmaceutical shares

The Board of Directors at the Nguyen Kim Investment and Development JSC (coded LMC) has announced a decision to buy LDP shares of the Lam Dong Pharmaceutical JSC (Ladophar). Nguyen Kim will make public bids for more than 2.1 million LDP shares with a maximum bid price of VND32,000 per share. The purchase would increase its ownership in Lam Dong Pharmaceutical from 24 per cent to 51.14 per cent, moving it from an affiliated company to a subsidiary.

Final packages of Ben Luc-Long Thanh Expressway underway

The Vietnam Expressway Corporation (VEC) has begun work on three final packages of the Ben Luc-Long Thanh Expressway project in the southern province of Dong Nai. In package A5, the State-owned corporation will build a 3.45-km section and two bridges. In package A6, it will construct a 16.5-km section, a 620-meter overpass, and a tollgate. It will build a 5.3-km section, two more bridges, an interchange on National Highway No. 51, and a tollgate in package A7.

Pilot power purchasing contracts on way

A mechanism allowing businesses in Vietnam to directly close contracts to buy power at competitive prices from renewable energy generators is expected to enter a pilot run next year under a program backed by the US Agency for International Development (USAID). It is working with the Ministry of Industry and Trade to enable private sector electricity buyers and renewable energy providers to enter into Direct Power Purchase Agreements.

Education and training fertile ground

Vietnam’s education and training sector is a fertile land for enterprises from South Korea, Kim Sang Mok from the Korea Trade-Investment Promotion Agency told a conference in Ho Chi Minh City on November 9. The Vietnamese Government is prioritizing education development to improve workforce quality, opening up opportunities for foreign businesses, including those from South Korea, to boost investment in the sector, he noted.

State revenues on the rise

According to the Ministry of Finance, cumulative State budget revenue in the first ten months of this year was VND972.6 trillion ($42.3 million), equal to 80.2 per cent of the annual estimate and up 13.8 per cent against the same period last year. Domestic revenue reached VND776.8 trillion ($33.8 million), equal to 78.4 per cent of the annual estimate and up 12.7 per cent. Revenue from business activities is estimated at VND605.7 trillion ($26.3 million), equal to 77.4 per cent of the annual estimate and up 10.1 per cent.

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