The opening plenum of the eighth session of the 13th-tenure Party Central Committee in Hanoi on October 2. (Photo: VNA) Hanoi (VNA) – Party General Secretary Nguyen Phu Trong put forth requests for members of the 13th-tenure Party Central Committee while opening the committee’s eighth session in Hanoi on October 2 morning. In his speech, the Party chief stressed that this time’s session, lasting until October 8, will consider and make decisions about many big, complex, and sensitive issues highly important to the fulfillment of the 13th Party Central Committee’s political tasks from now until the end of the tenure. Socio-economic and state budget issues for 2023 - 2024 will be discussed amid the continuation of fast, complicated, unpredictable and unprecedented developments in the world, along with the appearance of more difficulties and challenges, which have negatively and seriously affected the performance of socio-economic tasks and targets. He asked the Party … [Read more...] about Major issues to be debated at eighth session of Party Central Committee
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Petrovietnam in step with 48 years of national development
An oil rig of Petrovietnam (Photo: VietnamPlus) Hanoi (VNA) – Forty-eight years since its establishment, the Vietnam Oil and Gas Group (Petrovietnam) has become a multi-billion-dollar enterprise and made breakthrough and comprehensive development strides. Petrovietnam was set up on September 3, 1975 with the goal of helping guarantee national energy security and serving as a pillar of economic support for national development. Shortly after the date of national reunification (April 30, 1975), on September 3 the same year, the Vietnam General Department of Oil and Gas, the predecessor of Petrovietnam , was established under the Council of Government in efforts to realise late President Ho Chi Minh’s aspiration to develop an oil and gas industry of the country. Nearly half a century has passed, Petrovietnam has managed to master the most cutting-edge technologies and build a complete oil and gas industry. From 1986 to 2022, it posted more than 400 billion USD in total … [Read more...] about Petrovietnam in step with 48 years of national development
Bain Capital leads Masan’s equity funding round of up to $500 million
Customers shop at a WinMart store belonging to Masan Group. Masan announced on October 2 that Bain Capital, a global private investment firm, has agreed to invest at least $200 million in its equity at a price of VNĐ85,000 per share. — Photo courtesy of Masan Group. Masan Group Corporation (HOSE: MSN) announced on October 2 that Bain Capital, a global private investment firm with assets worth US$180 billion under management, has agreed to invest at least $200 million in its equity at a price of VNĐ85,000 per share. The money will be used to strengthen the company’s financial position and deleverage its balance sheet. This marks Bain Capital’s first ever investment in Việt Nam and underscores its confidence in Masan’s ability to grab the immense opportunity offered by 100 million Vietnamese consumers’ daily grocery, financial and other life needs. The investment will be in the form of Convertible Dividend Preference Share (CDPS) which can be converted into ordinary shares at a … [Read more...] about Bain Capital leads Masan’s equity funding round of up to $500 million
Vietnam gets 41.2 million USD in emission reduction payments
Vietnam has received 41.2 million USD, equivalent to 80% of the total funding, from the World Bank for 10.3 million tonnes of CO2 as a result of its efforts to reduce carbon emissions in deforestation and forest degradation until 2025.(Photo: kinhtenongthon.vn) Hanoi (VNA) – Vietnam has received 41.2 million USD , equivalent to 80% of the total funding, from the World Bank for 10.3 million tonnes of CO2 as a result of its efforts to reduce carbon emissions in deforestation and forest degradation until 2025, according to Director of the Forestry Department under the Ministry of Agriculture and Rural Development (MARD) Tran Quang Bao. At a workshop held in Hanoi on September 27, Bao said under the Emission Reductions Payment Agreement (ERPA) signed between Vietnam and the World Bank’s Forest Carbon Partnership Facility (FCPF) in October 2020, Vietnam could receive up to 51.5 million USD if the country is able to reduce 10.3 million tonnes of carbon dioxide emissions from six … [Read more...] about Vietnam gets 41.2 million USD in emission reduction payments