Foreign invested company

An overview of Panomax River Villa project in HCM City's District 7 (Source: panomaxrivervilla.net) Hanoi (VNS/VNA) - Thanh Thanh Cong Investment JSC is to buy more than 16 million shares of Sai Gon Thuong Tin Real Estate JSC (SCR), equivalent to 4.7 percent of the company’s outstanding shares. The transaction is scheduled from December 5 to December 31. Thanh Thanh Cong said the company is expected to spend 100 billion VND (4.3 million USD) for the acquisition. On the stock market, SCR shares price has plunged to the bottom of the last three years since 2016.  Since earlier this year, SCR shares have been traded with stable liquidity with an average of 2.8 million shares matched during each session. The figure for the nearest 10 sessions is 3.2 million shares matched per day. In the first nine months of this year, SCR saw an increase of 50 percent in post-tax profit, reaching 304 billion VND, fulfilling 95 percent of the yearly plan. In the last quarter of this … [Read more...] about Thanh Thanh Cong Investment to buy 16 mln shares of Sai Gon Thuong Tin Real Estate

MultiGlass was the winner of Techfest's start-up contest this year. (Photo: VNA) Quang Ninh (VNA) - Around 14 million USD in investment was pledged during the national innovative start-up day, Techfest 2019, in Ha Long city, Quang Ninh province. A series of seminars were organised by 12 technology villages during the three-day event, attracting 250 foreign investors and experts, and nearly 300 start-ups. The first prize in the National Innovation Talent Contest for Start-ups was awarded to MultiGlass, a start-up providing smart technology to help people with disabilities use computers. The smart communication device combines iris recognition technology and Artificial Intelligence. MultiGlass will represent Vietnam at the Start-up World Cup 2020 in San Francisco, the US. At the Techfest closing ceremony on December 6, Deputy Minister of Science and Technology Tran Van Tung said the ministry will  continue to assist the innovative start-up … [Read more...] about 14 million USD invested in start-ups at Techfest

An international workshop on Vietnam's economic prospects until 2025: opportunities and challenges brought by new-generation FTAs (Photo: dangcongsan.vn) Under its 5-year socio-economic development plan until 2020, Vietnam has maintained an annual GDP growth rate of more than 6.8%. Last year’s growth was more than 7% and this year is expected to exceed 7%. Vietnam  has achieved the GDP growth target set for the entire period. Inflation has been under control and the public debt ratio has been decreasing. But growth has been heavily dependent on capital. The support industry has grown slowly. The contribution of services with high added value has remained low. Logistics costs are high. Exports depend on foreign-invested enterprises. Most Vietnamese businesses haven’t participated in global value chains and their ability to innovate hasn’t improved much. At a recent international workshop on Vietnam's economic prospects until 2025, many experts pointed … [Read more...] about New-generation FTAs create opportunities, challenges for Vietnam’s economy

Private enterprises are looking to switch to greener alternatives in increasing numbers, Photo: Le Toan Albert T. Lieberg, representative of the Food and Agriculture Organization of the United Nations (FAO) in Vietnam, said that Vietnam is among the top five countries responsible for the estimated 13 million tonnes of plastic dumped into oceans every year. In Vietnam, single-use plastics are widespread and waste management capacity is limited. Both factors have taken their toll on the environment, and led to a decline in public health. “It is estimated that 1.8 million tonnes of plastic waste is generated in Vietnam every year, and plastic consumption is increasing 16-18 per cent annually,” said Lieberg at a recent Ho Chi Minh City conference on the issue. “Meanwhile, waste management and recycling facilities, and relevant policies are not in place to sufficiently respond to increasing needs. One major concern is a lack of a system for waste segregation at … [Read more...] about Public-private interplay to cut plastics

The five-year, $21.7 million USAID Trade Facilitation Program aims to support the Government of Vietnam to adopt and implement a risk management approach to customs and specialized inspection agencies, which will strengthen the implementation of the World Trade Organization's Trade Facilitation Agreement of which both Vietnam and the United States are members. Vietnam’s Deputy Prime Minister Vuong Dinh Hue and U.S. Ambassador to Vietnam Daniel J. Kritenbrink at the launching ceremony The USAID Trade Facilitation Program will work with the General Department of Vietnam Customs (GDVC), under the Ministry of Finance to strengthen the role and capacity of Vietnam's National Trade Facilitation Committee (NTFC) and their associated working groups to improve the efficiency of specialized inspections and customs-to-business partnerships. The USAID Trade Facilitation Program will be implemented until 2023 and will support the standardization of policies and procedures for … [Read more...] about The United States supports Vietnam in improving customs procedures