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October 5

Released at: 14:00, 05/10/2017 PRESS WATCH

October 5

VET's round-up of news from Vietnamese media for October 5.

HCMC & VietinBank to offer online payments

The Ho Chi Minh City Department of Information and Communications has announced it will cooperate with the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) to connect the city’s public administrative system with VietinBank’s payment system to allow people to pay public administration fees online. Online payments will be initially carried out for those to the city’s Departments of Health, Planning and Investment, Natural Resources and Environment, Education and Training, Customs, and Taxation. Later, the method will be applied at other units, such as SatraMart and Co.opmart stores and wholesale markets Binh Dien, Thu Duc and Hoc Mon.

Tsuchiya TSCO Vietnam leases space at Thang Long Industrial Park

Tsuchiya TSCO Vietnam has entered into a land lease contract with Thang Long Industrial Park (TLIP III) in the northern province of Vinh Phuc to set up a $10-million facility. Tsuchiya TSCO, a member of the Japan-based Tsuchiya TSCO Group, is among the first to sign a lease with the industrial park, according to the provincial people’s committee. Its 4-ha factory in the TLIP III will produce automotive parts and industrial products.

New CEO for Ocean Group

The Ocean Group (OGC) has announced a resolution from the Board of Management on the appointment of Mr. Nguyen Huu Tam as CEO and legal representative. Mr. Tam was born in 1971 and will hold the post for three years from the date of the resolution.

CMC lists on HSX

The CMC JSC (CMC) has officially listed more than 28.22 million shares on the Ho Chi Minh Stock Exchange (HSX) with the stock code CVT. It has charter capital of VND282.2 billion ($12.2 million) and operates in construction materials such as brick and tiles, cement, and iron and steel; civil, industrial, traffic, irrigation, and technical infrastructure, transformer lines, lighting lines, interior décor, and exteriors; and real estate. In the first nine months of 2017, its revenue reached VND905 billion ($39.3 million) and pre-tax profit VND106 billion ($4.6 million).

MoF preparing draft decrees on implementing FTAs

The Ministry of Finance is consulting on seven draft decrees on import tariffs to implement bilateral and multilateral free trade agreements signed by Vietnam. The agreements will enter into force in 2018 and tariffs on many commodities will be zero from the beginning of next year.

Kyber Network among leading virtual startup funds

Kyber Network has been ranked in the Top 10 of the world’s virtual startup funds in 2017. Capital mobilized is exactly 200,000 Ethereum, the second virtual currency, after Bitcoin, and which is often used as a trading unit for deals calling for virtual currency.

JWD Infowistics targets logistics companies

Thailand’s JWD Infowistics will buy one-third of a cold storage company in Indonesia at the end of this year and is expected to buy a large share in a freight forwarding company in Vietnam early next year. JWD has not revealed any further information on the two companies. The two deals are expected to cost about $12 million.

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