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November 21

Released at: 13:30, 21/11/2017 PRESS WATCH

November 21

VET's round-up of news from Vietnamese media for November 21.

Tran Anh Digital’s losses higher than first reported

On the eve of a merger with the Mobile World Investment Corporation (MWG), the Tran Anh Digital World JSC (Tran Anh Digital) has revealed a net loss of VND11.8 billion ($519,672), exceeding the net loss stated in its self-reported financial statement by VND4.8 billion ($211,392). There was a notable discrepancy between Tran Anh Digital’s first-half 2017 financial statement and the previous self-reported financial statement that highlighted a larger net loss.

Hokkaido Prefecture keen on air links with HCMC

Japan’s Hokkaido Prefecture is planning to launch direct air services to Ho Chi Minh City next year to promote tourism and trade cooperation between the two locations. After Deputy Governor of Hokkaido, Yasuhiro Tsuji, spoke about the prefecture’s efforts to set up direct air links with Ho Chi Minh City at a meeting with the city’s government, Chairman Nguyen Thanh Phong expressed his hope that the air services could be launched next year.

Work resumes at Happyland entertainment complex

Construction restarted on November 18 on the $2-billion Happyland entertainment complex in the Mekong Delta province of Long An, which had been delayed for a long time due to financial difficulties. Developer the Phu An Infrastructure Investment and Development JSC, a subsidiary of the Khang Thong Group, and its strategic partner Vina Oscar Hotel Limited from Hong Kong, will build certain key components of the project such as a five-star hotel with more than 1,000 rooms, a resort, a leisure park, and a commercial center. According to the Khang Thong Group, Phu An has transferred an 88 per cent stake in the project to Vina Oscar Hotel Limited, worth $668 million.

URC to build lab for Vietnamese food factories

Food and beverage company URC, from the Philippines, is preparing for a new investment in 2017-2019 in a central laboratory serving all of its factories in Vietnam. Mr. Laurent Levan, President and CEO of URC Vietnam, told the International Food Industry Exhibition (Vietnam FoodExpo 2017) that URC aims to boost its operations in Vietnam and promote its products to international customers.

Mai Linh introduces Mai Linh Bike

The Mai Linh Group has officially launched its Mai Linh Bike service in Ho Chi Minh City, Hanoi, and Da Nang, created by Vietnamese technology engineers. Once operating stably, the motorbike taxi ride-hailing service will be expanded to other cities and provinces. Mai Linh also promised stable prices and no increases during peak hours.

VPBank & Viettrade helping food enterprises

VPBank and the Vietnam Trade Promotion Agency (Viettrade) are helping Vietnamese food enterprises connect with large importers and supermarkets. VPBank coordinated about 500 commercial transactions, acting as a bridge for nearly 200 enterprises seeking partners and directly trading with 16 partners. These include leading import and export corporations such as Walmart (US), CJ and Lotte (South Korea), and Central Group (Thailand), and large supermarket chains in Vietnam such as Vinmart and Satra.

WEF infrastructure ranking stagnant

Under World Economic Forum (WEF) rankings, Vietnam’s infrastructure has again ranked 79th out of 137 countries. Despite improvements, Vietnam’s infrastructure remains weak, a workshop entitled “Vietnam - WEF (World Economic Forum) Cooperation in Infrastructure” held recently by the Ministry of Planning and Investment heard.

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