19:39 (GMT +7) - Monday 10/12/2018


November 6

Released at: 11:38, 06/11/2017 PRESS WATCH

November 6

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

Aeon selects winning bid for AEON Mall Ha Dong

Aeon Mall Vietnam has sent a winning bid letter to Kajima - Hoa Binh, assigning it as general contractor for designing and executing projects at the AEON Mall Ha Dong Commercial Center in Hanoi’s Ha Dong district, worth VND2 trillion ($88.08 million). Aeon Mall Ha Dong has a total area of over 150,000 sq m. Design and construction is to take 25 months and the commercial center is expected to open in late 2019, becomes one of the largest in Vietnam.

Schaeffler begins construction of auto equipment factory

Schaeffler, a German company supplying equipment to the automotive industry, has begun construction of the first phase of a $580.5 million manufacturing facility at the expanding Amata Industrial Park in Bien Hoa city, southern Dong Nai province. Phase 1 is expected to be completed in the fourth quarter of 2018 and the second phase will begin in 2022.

Bien Hoa seeks investment in urban renewal projects

Bien Hoa city in southern Dong Nai province needs over VND36 trillion ($1.6 billion) to implement urban renewal projects between 2016 and 2030, according to figures released at a meeting of the Bien Hoa City People’s Committee. Under a resolution issued at the meeting, between 2017 and 2020, city authorities will invest in urgent urban development projects to turn Bien Hoa into a first-grade urban area. This would help make it an economic hub of the Southern Key Economic Zone, including Ho Chi Minh City.

McDonald’s heading to Hanoi

McDonald’s is set to open its first outlet in Hanoi, according to an official from the Good Day Hospitality Joint Stock Company, McDonald’s developmental licensee for Vietnam. The date of the opening was not disclosed.

Golden Cashew Rendezvous set for Phu Quoc

The 9th Vinacas Golden Cashew Rendezvous will be held from November 13-15 on Phu Quoc Island in the Mekong Delta’s Kien Giang province, organizers announced at a press conference in Ho Chi Minh City on November 3. Co-organized by the Vietnam Cashew Association (Vinacas) and the Vietnam Trade Promotion Agency (Vietrade), the event is expected to draw about 400 domestic and international attendees from 40 countries and territories.

Vietnam rising in World Bank competitiveness rankings

A report on the World Bank’s 2017 competitiveness indicators shows that access to electricity in Vietnam this year reached 78.69 out of 100 points, up 32 places compared with the 2016 ranking and standing at 64th out of 190 countries. This is Vietnam’s highest jump in the rankings since 2013.

State enterprises divesting capital

State-owned enterprises withdrew nearly VND4.5 trillion ($216 million) in capital in order to reap over VND16.7 trillion ($734.8 million) in divestments in the first ten months of this year, including divestments in 2016 reported in 2017. According to the Ministry of Finance, divested capital in five sensitive areas - securities, insurance, banking and finance, real estate, and investment funds - stood at VND192 billion ($8.4 million), earning VND301 billion ($13.2 million). Divestments in other business sectors, excluding the above five, was VND2.7 trillion ($119 million), earning nearly VND4 trillion ($176 million).

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