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September 13

Released at: 12:00, 13/09/2017 PRESS WATCH

September 13

VET's round-up of news from Vietnamese media for September 13.

MoIT releases sample power purchase contract

The Ministry of Industry and Trade has issued a circular on project development and a sample power purchase contract applying to solar power projects. The circular stipulates that solar power projects are entitled to an electricity price of VND2,086 (9.35 US cents) per kWh.

Seafood fair on horizon

A tra fish and Vietnamese seafood product fair will take place from October 6 to 8 in Hanoi, according to the Ministry of Agriculture and Rural Development. The fair will promote the brand names of tra fish products, expand export markets, and showcase Vietnam’s major seafood products.

Luxembourg fund to invest in affordable housing

EZ Land, under KEY SICAV SIF, an international investment fund from Luxembourg, has officially announced its entry into Vietnam’s real estate market in Vietnam, with investment capital of $200 million. EZ Land plans to develop and build 1,000-1,500 apartments a year in the next five to eight years, and focus on the affordable housing segment.

Australia drops steel anti-dumping investigation

Australia’s Anti-Dumping Commission (ADC), under the Department of Industry, Innovation and Science, has decided to terminate investigations and not impose anti-subsidy duties on aluminum extrusion and zinc coated (galvanized) steel exported to Australia from Vietnam. ADC initiated the anti-dumping and anti-subsidy investigations into aluminum extrusion and galvanized steel imported from Vietnam in August and October of 2016.

Mekong Enterprise II cuts MWG holding

Mekong Enterprise II Ltd has reduced its ownership in the Mobile World Investment Group (MWG) after transferring 3 million shares in the electronics retail chain operator to other investors, cutting its stake to less than 3 per cent. It sold the shares to a group of investors, including 903,300 to Aquila SPC Ltd, 1 million to the Wareham Group Ltd, 356,700 to IDRIS Ltd, 640,000 to Vietnam Holding Limited, and 100,000 shares to the KB Vietnam Focus Balanced Fund. It has reduced its holding from 11 million shares to 8 million shares, or a 2.6 per cent stake.

ACV to mobilize $1.98 billion for airport upgrades

To meet increasing demand for air transport, Airports Corporation of Vietnam (ACV) has decided to mobilize capital to upgrade key existing airports with total investment of more than VND45 trillion ($1.98 billion). It plans to spend approximately VND8.2 trillion ($360.7 million) on building a new terminal, runways, and other infrastructure at Tan Son Nhat International Airport in Ho Chi Minh City, to reach an annual capacity of 45 million passengers by 2019. It will have to wait for Ministry of Transport approval, however.

Thaco to be new dealer of BMWs and Minis

The BMW Group Asia has signed a letter of intent with Vietnamese automaker the Truong Hai Automobile JSC (Thaco), delivering on its intention to choose Thaco as a new dealer of its BMW and Mini vehicles in Vietnam from January 1, 2018. The German automaker will wind up its four-year contract with Sime Darby Motors, which backs Euro Auto (EAC), the officially authorized distributor of BMW in Vietnam since 2006, on December 31.

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