00:50 (GMT +7) - Tuesday 24/07/2018


October 6

Released at: 14:00, 06/10/2017 PRESS WATCH

October 6

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

Idemitsu Kosan & KPI set up JV

Idemitsu Kosan and Kuwait Petroleum International (KPI) have set up a joint venture called Idemitsu Q8 Petroleum, with each holding 50 per cent. It will initially build a sales channel by opening up a network of service stations in the region.

Da Nang to hold investment forum

The Da Nang City People’s Committee will organize the Invest Danang 2017 Forum to promote the city’s potential and opportunities and its supporting policies for domestic and foreign investors. Scheduled to take place at the Ariyana Convention Center on October 14 and 15, the Forum will comprise of various activities, including a plenary session and parallel sessions, field trips, and other activities on the sidelines.

Seat cover factory opens in Ha Nam

Ohtsuka Sangyo Material Vietnam, a subsidiary of Japan’s Ohtsuka Sangyo Material Co., opened its factory on October 5 at the Dong Van 3 Supporting Industrial Park in Duy Tien district in the northern province of Ha Nam. This is the second Japanese-invested project to become operational at the industrial park. The $4.4 million plant specializes in producing and assembling automobile seat covers and has a capacity of 6 million products per year, which will be exported to Japan and the Americas.

Government Office sets up Private Development Research Unit

Minister and Head of the Office of the Government, Mai Tien Dung, has signed Decision No. 842/QD-HDTV establishing the Private Development Research Unit under the Advisory Council for Administrative Reform. The Unit, to known as Board IV, will be chaired by the President of the Vietnam Software and Information Technology Association, with the Vice Chairman of the Advisory Council for Administrative Reform, VinaCapital Group’s CEO, and Vice President of the Global Council on ASEAN at the World Economic Forum as Vice Chairmen.

Son La ore mine suspends operations

Ban Phuc Nickel has decided to suspend exploitation and processing of special sulfur ores like nickel, copper, and cobalt in the Niken Ban Phuc area in Bac Yen district, northern Son La province until September 30, 2018, as project revenues have not offset operating costs. As at August, Ban Phuc Nickel had accumulated losses of $129 million.

Hanoi adjusts planning for Dan Phuong eco-urban area

The Hanoi People’s Committee has issued Decision No. 6878/QD-UBND approving the partial adjustment of detailed planning for the Dan Phuong high-end eco-urban area in Dan Phuong commune, Dan Phuong district. The total land area will be about 449,684 sq m following the adjustment, with a population of about 2,316.

Japanese retailer concerned about Vietnam

Ryohin Keikaku, a leading Japanese retailer and also known as Muji, has entered into a joint venture with a potential partner to enter Vietnam, according to Mr. Kenji Takeuchi, CEO and Director of the company’s Planning Division. Its plan, however, has stalled, as company managers fear that Vietnam is still a small market compared to other markets and investment will be expensive compared to expected returns.

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