A corner at Nam Dinh Vu Port in the northern port city of Hai Phong, which is being operated by logistics firm Gemadept. The company's shares have gained nearly 13 per cent in the last three trading weeks. — Photo gemadept.com.vn The UK-based Vietnam Investments (VI) Fund II LP plans to sell more than 58 million shares of logistics firm Gemadept JSC. The fund will offer those shares for sale between August 23 and September 20, 2019. After the deal, VI Fund II will cut its ownership at Gemadept to zero from the current 19.55 per cent. VI Fund II had sold nearly 29.7 million Gemadept shares to slash its stake in the Vietnamese logistics firm to 19.55 per cent from previous 29.55 per cent, or more than 87.7 million shares. Transactions were carried out between July 8 and August 2. During the period, SSJ Consulting (Vietnam) Limited Liability Company registered to purchase nearly 29.7 million Gemadept shares between July 5 and August 2. Gemadept shares (HoSE: GMD) had gained as much … [Read more...] about Foreign funds to exit logistics firm Gemadept
EU confident of Vietnam’s ability to implement pact
Helena Konig, Deputy Director-General of Trade in the European Commission The EVFTA and EVIPA are comprehensive and high-quality agreements ensuring a balance of interests for both sides. What do you think of Vietnam’s ability to implement its commitments in the two agreements? I do not doubt the Vietnamese Government’s commitments as well as its ability to implement them, because the commitments are also part of the reforms that Vietnam is pursuing. Of course, reforming an economy is always a big challenge. The EU, for its part, is willing to help Vietnamese firms take advantage of EVFTA and EVIPA opportunities. The two sides will discuss ways to help businesses overcome difficulties during the implementation process. I think the business communities of both sides also play an important role in providing information for policy makers and indicating problems that need better solutions. I think both sides have prepared for implementation so far, although the agreements … [Read more...] about EU confident of Vietnam’s ability to implement pact
Infographic: Viet Nam-Australia relations in review
VGP - Australian PM will center on strengthening economic, security and people to people cooperation between Australia and Viet Nam during his visit to Viet Nam from August 22-24. … [Read more...] about Infographic: Viet Nam-Australia relations in review
Australian PM begins official visit to Vietnam
Australian Prime Minister Scott Morrison (Photo: VNA) Hanoi (VNA) – Australian Prime Minister Scott Morrison and his spouse began their three-day official to Vietnam on August 22 at the invitation of Prime Minister Nguyen Xuan Phuc. Morrison’s trip to Vietnam takes place amid the strong Vietnam-Australia relations and high political trust via regular exchanges of high-ranking delegations. Vietnam and Australia officially established diplomatic ties on February 26, 1973, and a comprehensive partnership in 2009. The relationship was elevated to a strategic partnership in 2018 during the official visit to Australia by Prime Minister Nguyen Xuan Phuc from March 14-17. The two countries have effectively implemented the action programme for the 2016-2019 period and are building another one for 2020-2022 to materialise the strategic partnership. Australia regards Vietnam as a key partner in the Association of Southeast Asian Nations (ASEAN), and an effective development … [Read more...] about Australian PM begins official visit to Vietnam
Tiki acquires ticket selling startup
The acquisition, announced Tuesday, was done by Tiki Investment, a subsidiary of Tiki established last year with a charter capital of VND250 billion ($10.8 million). The deal, whose value was not revealed, came after Tiki chairman Tran Ngoc Thai Son took over the CEO chair of Ticketbox in July. HCMC-based Tiki, the second most visited e-commerce website in Vietnam, estimates the country’s event ticket market to be worth $40 million this year, up 50 percent from last year, and the movie ticket market, $160 million. This is the first time Tiki has bought a company. In June it had announced plans to sponsor 100 music videos by Vietnam’s most popular artists to attract more e-commerce traffic. Ticketbox, established in 2013, sells tickets online for concerts, musicals and conferences and partners with event management companies to organize concerts. The company plans to sell tickets for 5,000 events from now until January, and will begin selling movie tickets from … [Read more...] about Tiki acquires ticket selling startup