04:08 (GMT +7) - Tuesday 23/10/2018


November 16

Released at: 11:42, 16/11/2017 PRESS WATCH

November 16

VET's round-up of news from Vietnamese media for November 16.

Quang Ninh permits seaplane flights

Chairman of the Quang Ninh Province People’s Committee Nguyen Duc Long has given approval to Hai Au Aviation’s proposal to launch seaplane flights from Ha Long city to Co To Island. At a working session with Hai Au Aviation, Mr. Long said the northern province would create the most favorable conditions in terms of administrative procedures for the launch of the flights and provide support in promotions.

Maritime Administration calls for end of port licensing

The Vietnam Maritime Administration has proposed the Ministry of Transport cease licensing new container ports in the Port Group No. 5 area until 2020, as ports in Ho Chi Minh City are overloaded while those in nearby Ba Ria Vung Tau province are operating at far below capacity. Seaport Group No. 5 includes ports in Ho Chi Minh City and southern Dong Nai, Ba Ria Vung Tau, and Binh Duong provinces, and on the Soai Rap River in the Mekong Delta’s Long An and Tien Giang provinces.

SBV Governor gives go-ahead to Chinese bank branch

The State Bank of Vietnam (SBV) has agreed in principle to allow the Agricultural Bank of China to open a branch in Hanoi, SBV Governor Le Minh Hung said at a recent meeting with Chairman of the China Banking Regulatory Commission Guo Shuqing in Hanoi.

IFC issues credit facility to VIB

The International Finance Corporation (IFC) has issued a $185 million credit facility to the Vietnam International Commercial Joint Stock Bank (VIB). Long-term grants are part of the IFC’s financing package that addresses difficulties for small and medium-sized enterprises and the lack of affordable housing. The grants are in five-year sponsorship packages from the IFC and $85 million from international banks Cathay United, ICBC Hong Kong Branch (China), and Kiatnakin Thailand.

Navigos: Startups needs staff

The Navigos Group’s latest survey found that 54 per cent of startup businesses in Vietnam have recruitment needs within the next three months, 17 per cent in the next 3-6 months, and 11 per cent in the next 6-12 months. Some said there was always a need to recruit.

Sabeco sale on way

The government aims to complete a stake sale in the country’s largest brewer, Sabeco, in December, the Ministry of Trade has said, in the clearest sign yet that the long-awaited State divestment may happen this year after repeated delays. The government, which owns 89 per cent of Sabeco, formally known as Saigon Beer Alcohol Beverage Corp., approved a divestment plan on November 9, the trade ministry said in a statement on November 15.

South Korean investors licensed at Dung Quat EZ

Six South Korean companies have been granted investment licenses for projects at the Dung Quat Economic Zone in the central province of Quang Ngai: Samshin Co., Yoobong Co., Wookang Co., Kwangjin Hanbit ENG, and Nasan Electric Industries Co. The six projects span a total of 65,022 sq m with investment totaling $11.02 million.

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