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November 20

Released at: 11:34, 20/11/2017 PRESS WATCH

November 20

VET's round-up of news from Vietnamese media for November 20.

TaTa solar plant for Binh Phuoc

The Binh Phuoc Provincial People’s Committee has approved an investment plan for a 49-MW solar power project worth $54 million, with funding from Indian power company TaTa Power. The project will cover an area of 55 ha in Loc Ninh district’s Loc Tan commune. Mr. Shenbagam Manthiram, TaTa Power’s Chief Representative in Vietnam, said that Binh Phuoc has a high number of sunshine hours, which he said encouraged the company to choose the southern province for its project.

SBV to tackle payment fraud

The State Bank of Vietnam (SBV) will adopt a wide range of measures to protect customers amid an increase in payment fraud, SBV Governor Le Minh Hung told a National Assembly Q&A session on November 17. He said the central bank’s efforts include stepping up system security, switching from cards with magnetic strips to those with microchips, applying international standards to the IT system’s safety and security, and stepping up supervision of the card payment system.

Cryptocurrency mining malware alert issued

The Vietnam Computer Emergency Response Team (VNCERT) has issued an urgent warning against the spread of Coin-hive cryptocurrency mining malware. The alert has been sent to departments of information and communications, the information technology and cyber security agencies of ministries, members of computer emergency response networks, corporations, financial organizations, banks, and others. According to VNCERT, Coin-hive malware lurks unseen on websites. Thousands of sites using coin-hive script were tricked into loading a modified code that illegally utilizes users’ CPU, hard drive and memory to mine cryptocurrencies like Bitcoin and Monero for the hackers rather than the actual site owners.

iPhone X soon available

The iPhone X - Apple’s latest iPhone product - will be officially sold in Vietnam from December 8. The FPT Shop - an Apple Authorized Reseller in Vietnam - said customers can pre-order from December 1 to 7. The iPhone X costs VND29.9 million ($1,317) and VND34.7 million ($1,528) for the 64GB and 256GB versions, respectively, in either silver or grey. The price at an Apple Authorized Reseller is VND500,000 ($22) to VND1 million ($47) cheaper than at private shops. Private shops bring these phones to Vietnam by different methods.

Jardine Matheson subsidiary acquires 8% of Vinamilk

A Jardine Matheson company has built up an 8 per cent stake worth $911.5 million in Vinamilk, Vietnam’s largest listed company, highlighting the strong interest among foreign groups in expanding into one of Asia’s fastest-growing economies. According to the Singapore-listed Jardine Cycle & Carriage Ltd (JC&C), one of its wholly-owned units bought an additional 36 million shares in Vinamilk just days after it paid $616.6 million for a 5.53 per cent stake in the dairy firm.

5,000 toxic YouTube videos removed

Over 5,000 toxic videos have been removed from YouTube, Minister of Information and Communications Truong Minh Tuan told legislators on November 17. The toxic videos infringed upon the interests of the Party and the State as well as the legitimate rights and interests of individuals. The ministry will continue working with social network providers to eliminate toxic contents, said Minister Tuan, adding that it is difficult to manage all 53 million social network users in Vietnam.

The Coffee House to open tea stores

According to The Coffee House’s CEO Nguyen Hai Ninh, the brand will spend some $1 million on opening five Ten Ren tea brand stores this year. If the response from customers is good, by 2018 it will have about 30 stores. In the future, the company will open a tea factory in Da Lat. Ten Ren is a Taiwanese tea brand born in 1953.

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