According to the Ministry of Transport and the Ministry of Industry and Trade, FastGo is not yet eligible to be approved for a pilot phase, nor is it registered as a tech platform. In a written reply to the Da Nang Department of Transport’s proposal to permit FastGo to operate, the Ministry of Transport has said that the application falls under the category of "electronic contract service based - management support platform." But, the ministry adds, it is yet to receive a proposal to launch the app directly from FastGo Vietnam JSC, which means the application is not yet ready to be approved for a pilot phase. The ministry has also requested the Da Nang Department of Transport to inform cab companies not to use FastGo if the app is offered to them. Furthermore, FastGo is not allowed to provide its services directly to taxi drivers, it says. However, Nguyen Huu Tuat, FastGo CEO, is adamant that the app is not violating any law. He told VnExpress that he has not received a written … [Read more...] about FastGo can’t go, say Vietnamese authorities
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Gov’t calls for social network ethics code
The Government has urged the Ministry of Information and Communications to build a code of ethics on social networks for internet service providers and users to create a healthy networking atmosphere in the country.— Photo zing.vn HÀ NỘI — The Government has urged the Ministry of Information and Communications to build a code of ethics on social networks for internet service providers and users to create a healthy networking atmosphere in the country. Deputy Prime Minister Trương Hoà Bình made the request at a conference on the implementation of National Assembly resolutions on cyber security surveillance yesterday. Bình said the Government had asked the ministry to develop a code of ethics on social networks operating in Việt Nam such as Facebook and YouTube. It had also asked professional agencies to co-operate with Facebook and Google to remove false and misleading information that runs counter to the Party and … [Read more...] about Gov’t calls for social network ethics code
BUSINESS NEWS IN BRIEF 4/8
PetroVietnam signs deals on Sao Vang-Dai Nguyet gas field exploitation A series of trade agreements on exploiting the Sao Vang-Dai Nguyet gas field was inked between the Vietnam National Oil and Gas Group (PetroVietnam) and its partners in Hanoi on July 31. The agreements included a gas sales and purchase and a gas supply agreement. The stakeholder participation in the Petroleum Sharing Contract includes the operator Idemitsu Kosan Co Ltd with 43.08 percent; Teikoku Oil (Con Son) Co Ltd, 36.92 percent; and PetroVietnam, 20 percent. Speaking at the signing ceremony, PVN General Director Nguyen Vu Truong Son said the signing of trade agreements achieved after over two years of negotiations among sides involved. He said the event is very significant for the gas filed to turn out the first flow of oil and gas in the third quarter of 2020, with an estimated annual output of 1.5 billion cubic metres of gas and of 2.8 million barrels of crude oil and natural-gas condensate. The … [Read more...] about BUSINESS NEWS IN BRIEF 4/8
BUSINESS NEWS IN BRIEF 3/8
JLL reports on real estate M&A in first half Vietnam’s real estate market continued to exhibit irresistible appeal among foreign investors in the first half of 2018 and continued to witness high-value merger and acquisition (M&A) transactions in a variety of sectors such as residential, commercial, and industrial, according to Ms. Khanh Nguyen, Associate Director, Capital Markets, Vietnam, at JLL. Joint ventures have become popular among foreign developers who have strong financial capacity and track record, with them joining forces with local developers who own land and have strong connections with the local community. Foreign investors are from many different countries, such as Japan, South Korea, and Singapore, and with an increasing number of groups from Mainland China. JLL observes that there is an increasing number of local investors who are actively seeking real estate deals alongside foreign investors. 2018 started off with the acquisition of Sun Wah office tower … [Read more...] about BUSINESS NEWS IN BRIEF 3/8
Facebook says Chinese phone makers got access to data
Facebook has confirmed that a Chinese phone maker deemed a national security threat by the U.S. was among companies given access to data on users. Huawei was able to access Facebook data to get the leading social network's applications to perform on smartphones, according to the California-based company. "Facebook along with many other U.S. tech companies have worked with them and other Chinese manufacturers to integrate their services onto these phones," Facebook mobile partnerships leader Francisco Varela said in a statement on Tuesday. "Given the interest from Congress, we wanted to make clear that all the information from these integrations with Huawei was stored on the device, not on Huawei's servers." Before now-ubiquitous apps standardized the social media experience on smartphones, some 60 device makers like Amazon, Apple, Blackberry, HTC, Microsoft and Samsung worked with Facebook to adapt interfaces for the Facebook website to their own phones, the company said. Facebook, … [Read more...] about Facebook says Chinese phone makers got access to data