05:55 (GMT +7) - Monday 23/10/2017

PRESS WATCH

September 21

Released at: 15:00, 21/09/2017 PRESS WATCH

September 21

VET's round-up of news from Vietnamese media for September 21.

MoF proposes new development investment fund decree

The Ministry of Finance is proposing to formulate a government Decree regulating the organization and operation of the local Development Investment Fund (replacing Decree No. 138/2007/ND-CP and Decree No. 37/2013/ND-CP). The existing decrees have many shortcomings, such as the operating funds of departments of planning and investment being limited compared with demand for investment for local socioeconomic development.


FLC Group announces Nghe An project

Property developer the FLC Group has announced an intention to build the VND10 trillion ($440.5 million) FLC Beach & Golf Resort in the north-central province of Nghe An’s Nghi Loc district. The complex would cover an area of 460 ha and include an 18-hole golf course, a hotel and condotel project with 1,000-2,500 rooms, a 1,000-seat international convention center, villas, shop houses, a park, adventure sports, and a camping site. It plans to begin construction in March 2018.


FPT Retail to list on HSX

FPT Retail plans to list on the Ho Chi Minh Stock Exchange (HSX) prior to April next year, according to an FPT Corporation source. A report issued last month said that FPT completed the sale of 30 per cent of its shares in FPT Retail to Dragon Capital and VinaCapital and will offer a further 10 per cent to individual investors at the initial public offering (IPO).


Sunshine Corp. building school

A signing ceremony for a strategic cooperation project building the five-star Sunshine Maple Bear international standard school has been held by the Sunshine Corporation and its partner, CitySmart, to provide a quality education to children at Sunshine’s projects.


SBV to rank credit institutions

The State Bank of Vietnam (SBV) is planning to rank the country’s credit institutions but said the results will not be publicized due to their sensitive nature. According to a draft document the SBV is circulating for opinion, credit institutions to be rated include commercial banks, financial companies, financial leasing firms, cooperative banks, and branches of foreign banks. Institutions will be classified in five groups - A, B, C, D and E - with A representing the best performing and E the worst. Rankings will be based on quantitative and qualitative criteria.


Vietnam 6th on outsourcing list

Vietnam jumped five places to sixth in the 2017 Global Services Location Index (GSLI), released by management consultants A.T. Kearney on September 19. The GSLI ranks the Top 55 countries in outsourcing, based on three criteria: financial attractiveness, employee skills and availability, and business environment. This is the highest spot Vietnam has secured in the index, which is now in its eighth edition. It also marks Vietnam’s return to the Top 10 for the first time since 2013.


Foreign home ownership at economic zones limited

The duration of foreign home ownership in a special economic zone is 99 years but foreign ownership must not exceed 30 per cent of the total. According to the Department of Management of Special Economic Zones at the Ministry of Planning and Investment, the Special Economic Administrative Law is the legal framework for the development and management of special economic zones, including Van Don (Quang Ninh), Northern Van Phong (Khanh Hoa), and Phu Quoc (Kien Giang).

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