A Boeing Plane lands at Da Nang International Airport. The city has granted an investment licence to an US investor for manufacturing aircraft components for aerospace. — VNS Photo Cong Thanh The central city of Da Nang has granted a new investment licence to a factory for aircraft components of Universal Alloy Corporation, worth US$170 million. The city’s Investment Promotion Agency (IPA) said the licence would be handed over to the US investor at an investment event – the Spring Dialogue – in the city on March 1. It said the project will be built on 1.67ha at the city’s Hi-Tech Park, 20km west of city centre, with two phases of investment in 2019-26. The project aims to export aircraft components to North America and Europe worth an estimated $25 million in 2021 and $82 million in 2022, before aiming for more than $180 million of exports on an ongoing annual basis by 2026, IPA said. According to IPA, Universal Alloy Corporation (UAC) is a leading global … [Read more...] about US aircraft parts plant coming to Da Nang
Parts for aircraft
FAA announces aviation safety rating for Vietnam
US Ambassador to Vietnam Daniel J. Kritenbrink on February 15 met with Nguyen Van The, Minister of Transport, and Dinh Viet Thang, Director General of the Civil Aviation Authority of Vietnam, to congratulate Vietnam on achieving a Category 1 aviation safety rating. The Category 1 status is based on an August 2018 FAA assessment of the safety oversight provided by Vietnam’s Civil Aviation Authority, the US Embassy in Vietnam said in a press release on February 15. The Category 1 determination is a substantial achievement. It is the result of years of diligent work by the Civil Aviation Authority of Vietnam and the Ministry of Transportation. With Category 1 status, Vietnamese air carriers will be able to establish direct services to the US and carry the code of US carriers upon completion of the necessary remaining steps, including Vietnamese airports earning approvals to comply with ICAO security standards and recommended practices from the … [Read more...] about FAA announces aviation safety rating for Vietnam
Vietnam, a potential high flyer for CFM
(VEN) - Vietnam Economic News’ Nguyen Huong spoke with Gael Meheust, President and Chief Executive Officer of CFM International - the world’s leading manufacturer of jet engines for single-aisle aircrafts. Gael Meheust, President and Chief Executive Officer of CFM International What do you think about the Vietnamese aviation market? According to a report compiled by the International Air Transport Association (IATA), Vietnam will have about 250 million air traffic users by 2030, three times higher than in 2017. This is one of the strategic potential markets that CFM targets. We are attracted by Vietnam’s business models. For example, Vietjet Air has increasingly attracted more and more passengers due to its fare policy. The number of aircraft has also increased, which makes us feel very optimistic about doing business with Vietjet. Vietnamese airlines are growing rapidly with clear plans and strategies, so we have many advantages in developing the … [Read more...] about Vietnam, a potential high flyer for CFM
Legal due diligence vital for business acquisitions in Vietnam
Vietnam’s merger and acquisition (M&A) market has seen significant growth over the past decade with a total of 4,353 deals valued at $48.8 billion done. Last year there was the biggest M&A deal ever when Thaibev Group bought 53.59 percent of the country’s largest brewery Sabeco through its subsidiary. This interest is expected to spread to other booming sectors like energy and infrastructure, education, pharmaceuticals, and telecoms in the near future aided by the constant efforts by the government to ease the restrictions on foreign investment in several sectors. In practice, M&A transactions involve guidance from consultants with various kinds of expertise until the deal is closed. The performance of legal due diligence (DD) in conjunction with financial and business DD is the first step in a deal as a pre-contractual investigation before proceeding with any further negotiations between the relevant parties. In M&A transactions, legal DD serves to collate … [Read more...] about Legal due diligence vital for business acquisitions in Vietnam
Vietjet launches promotion for int’l routes
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A Vietjet aircraft takes off from Tan Son Nhat International Airport in HCM City. — VNS Photo Vietjet will sell more than half a million tickets with prices starting at zero dong from April 4 to 6 as part of a promotion to celebrate the Songkran Festival. The promotional tickets will be available at www.vietjetair.com for international routes flying to Bangkok, Phuket and Chiang Mai, Thailand; Yangon, Myanmar and Phnom Penh and Siem Reap, Cambodia. The promotion is also applied for other international routes to Seoul and Busan, South Korea; Hong Kong; Kaoshiung, Taipei, Taichung and Tainan, Taiwan; Singapore and Kuala Lumpur, Malaysia. During this promotion, customers can purchase flights for the period from May 5 to December 31. Songkran – the New Year Festival of Thailand, Cambodia (where it is also known as Chol Chnam Thmay) and Myanmar (Thingyan) – is celebrated in April every year, always attracting tourists seeking to enjoy traditional culture, the festive … [Read more...] about Vietjet launches promotion for int’l routes