21:03 (GMT +7) - Monday 10/12/2018


October 25

Released at: 15:10, 25/10/2017 PRESS WATCH

October 25

VET's round-up of news from Vietnamese media for October 25.

Tiki offering free personal accident insurance

The Tiki Joint Stock Company (Tiki.vn) announced on October 25 that it has struck a partnership with FWD to provide free personal accident insurance packages to 100,000 of its customers.

No more capital for loss-making State investment projects

The government will no longer inject more capital into State-funded investment projects that have racked up huge losses, according to a report Minister of Industry and Trade Tran Tuan Anh sent to the National Assembly. He said the ministry would resolutely handle these projects in line with market mechanisms. The government and the ministry will take proper measures to prevent governance weaknesses at State-owned enterprises from recurring.

Digiworld picks up stake in FMCG provider

The Digiworld Venture Company, an arm of the Digiworld Corporation, acquired a 50.3 per cent stake in the CL Co., a provider of fast-moving consumer goods (FMCG) in Vietnam, in the last quarter, according to a statement from Digiworld. This is the first M&A transaction conducted by Digiworld this year. Established in 1998, CL provides high-quality FMCG from Japan, such as Kodomo toothpaste, Systema toothbrushes, Essence liquid detergent, Bio Zip powder, and Bubbi King dishwashing liquid.

VOF acquires 5% of OCB

The Vietnam Opportunity Fund (VOF), managed by VinaCapital, has invested $11 million in the Orient Commercial Bank (OCB), acquiring a stake of nearly 5 per cent. The investment is expected to help OCB diversify its services to targeted customer segments, including affluent individual clients and small and medium-sized enterprises.

Call for global IT platform to establish legal entities

Global IT platforms such as Google and Facebook should be required to establish legal entities in Vietnam to conform to the country’s laws, a representative from VTC Mobile has proposed. Mr. Nguyen Ngoc Bao, Director of VTC Mobile, a Vietnamese mobile games publishing company, was quoted by ictnews.vn as saying this would help ensure fair competition between local and foreign companies.

Two local universities among Asia’s Top 150

Two Vietnamese universities are on a list of the Top 150 universities in Asia compiled by the London-based educational consultancy Quacquarelli Symonds (QS). The Asia QS University Rankings this year increased from 350 to 400 institutions. The Vietnam National University (VNU) Hanoi maintained its ranking of 139th while VNU Ho Chi Minh City climbed five places to 142nd.

Ca Mau seeks renewable energy investors

The Mekong Delta province of Ca Mau will put into place a number of suitable policies and mechanisms to encourage enterprises to invest in its renewable energy sector. Deputy Chairman of the Ca Mau Provincial People’s Committee, Mr. Lam Van Bi, made the commitment at a conference on renewable energy development in Ca Mau on October 24.

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