21:15 (GMT +7) - Tuesday 12/12/2017

PRESS WATCH

October 11

Released at: 14:00, 11/10/2017 PRESS WATCH

October 11

VET's round-up of news from Vietnamese media for October 11.

HAR eyes share acquisition

The An Duong Thao Dien Real Estate Investment JSC (HAR) has announced a decision from its Board of Directors to buy at least 35 per cent of shares and the right to purchase an additional 20 per cent of shares in the Orient Manufacture Trading JSC. HAR also named Mr. Nguyen Nhan Bao as the representative of capital and management at Orient Manufacture Trading. Mr. Bao is currently a member of the board at HAR.


Ikea looks to Vietnam

Ikea has confirmed plans to open stores in Vietnam and the Philippines after already establishing a presence in Malaysia and Thailand. It plans to open its first store in South America over the next five years - with the same timeframe as expanding to Vietnam and the Philippines. After a period of concentrated expansion in India and China, Ikea began looking for growth opportunities in other markets. The company now has over 400 stores in 49 markets across Europe, North America, the Middle East, Asia, and Australia.


Sunwah invests in high-end HCMC housing project

Hong Kong’s Sunwah Group has announced an investment in a high-end housing project in Ho Chi Minh City. Sunwah Vietnam’s CEO Johnson Choi said the Sunwah Pearl project at 90 Nguyen Huu Canh Street in Binh Thanh district would be the third-largest property development of Sunwah in Vietnam after Sunwah Tower on Nguyen Hue Boulevard in District 1 and Saigon Pearl on Nguyen Huu Canh Street in Binh Thanh. Sunwah Pearl will be developed by Bay Water Co. Ltd, a subsidiary of the group. Covering more than 19,000 sq m, the project will have one 45-story block and two 50-story blocks with a total of 1,342 apartment units of one to three bedrooms measuring from 52 to 128 sq m each.


VNA & Air France create joint venture

Vietnam Airlines and Air France have inked a joint venture deal to start from November 1 to bring more benefits to passengers on their air routes between Vietnam, France, and Europe. Air France’s CEO Franck Terner said the joint venture deal with Vietnam Airlines is one of the strategic development plans of Air France, known as “Trust Together”.

French group opens animal feed additives plant

Olmix Asialand Vietnam, an affiliate of the France-based Olmix Group, opened an animal feed additives plant with an annual capacity of 5,000 tonnes at the Song Than 2 Industrial Park in the southern province of Binh Duong on October 10. This is the Olmix Group’s first plant in Asia, with total capital of $2.35 million. It was built to European Quality and Safety System for Specialty Feed Ingredients standards.


Meiko Electronics to build third Vietnam plant

TNI Holdings Vietnam (formerly the Vietnam Development Investment Group - VID Group) and the Meiko Electronics Vietnam Co. have signed a cooperation agreement. Meiko Electronics Vietnam, which manufactures printed circuit boards and electronic assemblies, will lease infrastructure and land at TNI’s Quang Minh Industrial Park and build its third electronics plant in Vietnam with total investment of over $50 million.


Deputy PM calls for progress at Blue Whale gas field

Deputy Prime Minister Trinh Dinh Dung asked the Ministry of Industry and Trade, the National Oil and Gas Group, and the US’s ExxonMobil to accelerate negotiations on the exploitation of the Blue Whale gas field at a meeting with ExxonMobil Vice President for Gas and Power Marketing Paul Greenwood in Hanoi on October 10. At the reception, the Deputy PM affirmed that Vietnam highly appraises Exxon Mobil’s participation in the Blue Whale gas field, adding that the project plays a crucial role in deepening the cooperative relations between Vietnam and the US. He also praised the progress in the implementation of gas power plants over recent years, asserting the government’s commitments to welcoming the first gas pumped out from Blue Whale by 2023.

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