Indian company builds instant coffee plant

The list of State-owned enterprises that needed to be divested in the 2017-20 period will be made public soon. — Photo vietbao.vn Deputy Prime Minister Vuong Dinh Hue on Wednesday urged the Ministry of Planning and Investment (MPI) to quickly finalise the list of State-owned enterprises (SOEs) that needed to be divested. At the meeting with MPI, ministries of Finance and Justice, as well as the Government Steering Committee on Corporate Renovation and Development, Hue asked the MPI to submit the list of SOEs to be divested by 2020 to Prime Minister Nguyen Xuan Phuc for approval. He also assigned the Ministry of Finance to review and calculate the number of SOEs and State capital needed to be divested by 2020 and report it to the Prime Minister (PM). Hue said that the PM will issue a separate decision on equitisation and divestment of State capital at large SOEs such as Habeco, Sabeco, State Capital Investment Corporation (SCIC), Petro Vietnam, Electricity of Vietnam and Airports Corporation of Vietnam (ACV). But for the remaining SOEs, it is necessary to fully aggregate them in a list to make public to ease investors. According to the PM’s instruction, the MPI has begun asking for recommendations from relevant ministries, agencies and localities about the list since early this year and has so far finalised the draft. Hue agreed with the draft list which regulates the rate of divested capital each year (the minimum rate), but…... [read more]

Employees at VCCorp, a local digital content firm based in Ha Noi. — Photo vccorp.vn Local digital content firms are claiming of unfair treatment compared to their foreign peers, with Vietnamese companies saying they face many regulations while firms like Google, Facebook and YouTube don’t pay taxes and are unhindered by regulations and policies. Leaders of digital content businesses made the gripes at a forum about the law on information and technology and development orientation held in Ha Noi on Tuesday. Nguyen Thanh Hung, director of VTC Intecom was reported by online newspaper vneconomy.vn as saying that 10 years ago, revenue of digital content from added value services reached VND3 to 4 trillion (US$133-177 million). The revenue has risen due to the development of television, online services and the shift from traditional advertising to online ads and content on social networks. Nguyen The Tan, VCCorp’s general director said total revenue of digital content firms in was about VND 8 to 10 trillion a year. The revenue could hit VND15 to 20 trillion a year including foreign companies in Viet Nam. Tan told the newspaper that the scale of the digital content market in the next five years could reach $1 billion and $5 billion in the next 20 years. However, he said $1 billion in revenue for the digital content sector was different than for the garment and textile industry. The garment and textile sector could earn only 10 per cent…... [read more]

Minister-head of Government Office Mai Tien Dung reports the Prime Minister’s requirements to Vietnam Airlines, Vietnam Air Traffic Management Corporation and Airports Corporation of Viet Nam. — Photo gov.com.vn Prime Minister Nguyen Xuan Phuc has urged the aviation industry to tighten security and safety as they are important issues currently. This requirement was one of six in a message from the Prime Minister sent to the aviation industry at the meeting between the Government working group led by Minister-head of Government Office Mai Tien Dung and representatives of three aviation firms, including Vietnam Airlines, Vietnam Air Traffic Management Corporation and Airports Corporation of Viet Nam (ACV), in Ha Noi on Wednesday. The meeting aimed to urge the industry to boost business and production, contributing to hitting the country’s GDP growth target this year as well as discovering and solving difficulties. The businesses will then have to report and explain the problems to the Government and the PM. In the message, Prime Minister Phuc said the industry has grown but has to ensure security and safety, seen as the most important issue. “Whatever the circumstances, we will not let danger occur,” said Dung, which also mentioned problems related to air traffic management recently at Cat Bi Airport in the northern city of Hai Phong. The PM mentioned the importance of increasing the frequency of take offs and landings and said that many international airports had a frequency of two minutes per flight,…... [read more]

In late August, Vietnam Posts and Telecommunications Group (VNPT) and Electricity of Vietnam (EVN) will divest their capital in three major companies with a total charter capital amount of VND1 trillion ($44 million). RELATED CONTENTS: EVN banned from investing in property, banking sectors VNPT to divest capital from Maritime Bank Free wifi at festival spots in major cities SK Telecom to lose rights to coveted bandwidth PM tells VNPT to get ready for equitisation EVN divests from non-core businesses Saigon Postel Corporation On August 29, VNPT will sell all 10.26 million of its shares, equal to 8.53 per cent of all outstanding shares in Saigon Postel Corporation (SPT), at the starting price of VND12.487 ($0.55) per share. SPT was founded in 1995 and operates mainly in telephone, internet, and postal services. SPT’s direct business units includes Saigon South Telephone Centre (SST), S-Telecom, and Saigon Post (SGP), among others. SPT’s charter capital is currently VND1.2 trillion ($52.8 million), with seven major stakeholders controlling 77.08 per cent of the total stakes. Reports showed that SPT has made profit in recent years, however debts from the S-Fone mobile network project (which ceased operations in 2012) has kept the company short on capital for operation as well as expansion. By the end of…... [read more]

VSIP has developed world-class industrial estates across Vietnam with self-contained facilities to serve the needs of its customers. John Lim HM, head of Commercial & Residential Properties at VSIP JV Co., Ltd., shared with Thanh Van the group’s vision to complement foreign investors’ growth in the park. Following the success of industrial parks (IPs), VSIP has transformed into a developer of integrated townships and IPs. Could you highlight the advantages and challenges of this business model? Vietnam is a land of immense potential for growth. We realised early on that the country possesses unique strengths, including abundant land and young, hardworking labour force, to attract As Vietnam grows, the community’s needs to evolve. This is why VSIP has transformed our core offering from standalone IPs to integrated township and IP models, enabling us to bring in comprehensive solutions to work, live, and play, and also applying urban planning best principles in Vietnam. We believe that successful implementation rests on a strong master plan that is backed by robust urban infrastructure and integrates utilities and facilities for enhanced living. Who are the target investors for VSIP commercial and residential complexes? VSIP has a lot to offer as an investment destination. Along with IPs, VSIP townships in Binh Duong, Quang Ngai, Nghe An, Bac Ninh, and Haiphong are ideally located and prepared land for property investment and development with diverse options of townhouses, apartments, hotels, commercial areas,…... [read more]

NDO/VNA – Prime Minister Nguyen Xuan Phuc has urged the aviation industry to tighten security and safety as they are important issues currently. This requirement was one of six in a message from the Prime Minister sent to the aviation industry at the meeting between the Government working group led by Minister cum Head of the Government Office Mai Tien Dung and representatives of three aviation firms, including Vietnam Airlines, Vietnam Air Traffic Management Corporation and Airports Corporation of Vietnam (ACV), in Hanoi on August 16. The meeting aimed to urge the industry to boost business and production, contributing to hitting the country’s GDP growth target this year as well as discovering and solving difficulties. The businesses will then have to report and explain the problems to the Government and the PM. In the message, PM Phuc said the industry has grown but has to ensure security and safety, seen as the most important issue. The PM mentioned the importance of increasing the frequency of take offs and landings and said that many international airports had a frequency of two minutes per flight, or even one minute per flight. Dung also questioned the plan to double the annual capacity of Tan Son Nhat International Airport from its current capacity of 25 million passengers when the airport has not been expanded and Long Thanh Airport, designed to be the country’s largest airport in the southern province of Dong Nai and about 40km far from HCM City, is yet to be constructed. …... [read more]

HONGKONG: Hong Kong flag carrier Cathay Pacific on Wednesday (Aug 16) reported a massive net loss of HK$2.05 billion (US$262.07 million) for the first half of the year as the airline struggled with intense competition from rivals. Hong Kong flag carrier Cathay Pacific reported a massive net loss of HK$2.05 billion for the first half of the year as the airline struggled with intense competition from rivals. (Photo: AFP/Anthony Wallace) The results, which were worse than analysts predicted, came after Cathay saw its first annual loss in eight years in 2016, as lower cost Chinese carriers eat into its market share. Wednesday's results pave the way for the first ever back-to-back annual losses in the company's 70-year history. Bloomberg analysts had forecast a year-on-year loss of HK$1.2 billion (US$153 million) for the first half of 2017. Chairman John Slosar described the results as "disappointing" to reporters and said competition was the most significant factor. Companies like China Eastern and China Southern Airlines are offering direct services to Europe and the United States from the mainland, while budget carriers like Spring Airlines have targeted regional travellers, undermining Cathay's position. The airline is also losing premium travellers as it comes under pressure from Middle East rivals which are expanding into Asia and offering more luxury touches. That has led to promotional prices for Cathay's top tickets as they are sold to leisure…... [read more]

Investors are seeking alternative opportunities in central coastal cities like Danang and Nha Trang, given the high property prices in Hanoi and Ho Chi Minh City. In anticipation of the trend, foreign developers with strong financial capacity have ramped up acquisitions or have been partnering with local developers to scale up projects there. Central Vietnam features a coastline of scenic beaches which have attracted a growing number of domestic and international tourists in recent years. Consequently, the coastal cities of Danang, Nha Trang, and Hoi An have become popular second-home markets, with completed infrastructure as well as a plethora of living and entertainment services. Many tourists, investors, as well as locals desire to own beachfront apartments or villas in the area to enjoy their weekend holidays. On top of this, coastal properties would make good potential investments in the future. In fact, many investors who invested in Danang’s land plots have made a fortune when land prices have risen by 300-400 per cent after 5-7 years of investment. As market sentiment is improving, individual investors are cashing in on non-Central Business Districts (non-CBD), like the central province of Quang Nam near Danang or the suburban areas of Nha Trang. In June, Dat Quang JSC and CEN Group unveiled Ngoc Duong Riverside–The Gardens in Quang Nam in the south of Danang. At the launch, hundreds of customers and investors made deposits to snap up land plots, half…... [read more]

On July 11, 2017, THACO officially handed over 12 double-decker tour buses for Empire Group. These buses are dedicated for travel and are quite popular and familiar to visitors in London, Berlin, Barcelona, Hong Kong or Singapore. After over a year of research, THACO Research and Development Centre (R&D) has launched the double-decker tour buses (54 seats-42 seats on the upper deck and 12 on the lower deck) of European standards, applying the most advanced technology, manufactured with components imported directly from Germany, Japan, and South Korea, meeting strict quality requirements, and making the ideal vehicle for sightseeing activities in tourism cities. The bus consists of two decks with a roof top, clear space and visibility, a suitable choice for sightseeing. The bus is equipped with a mini bar, a multi-language touch screen system incorporating global GPS navigation which automatically provides destinations for foreign tourists. The body structure and chassis of the bus are designed by Full Monocoque technology, the most advanced technology in the world today. The Hino engines were imported from Japan. The six-speed automatic transmission system, front and rear axles, disc brakes, pneumatic suspension and steering systems, among others, were imported from ZF Group (Germany). The automatic transmission incorporates a modern hydraulic braking system, a pneumatic suspension system, combined with the Electronically Controlled Air Suspension (ECAS) from  Germany to keep the bus stable and safe in every road condition. This is a special dedicated…... [read more]

At first glance, the Vietnamese animal protein industry appears to have reached its full potential with a total market size of $18 billion, equivalent to over 9 per cent of the national GDP. The entire value chain includes animal feed, farming, and end-consumer products, both fresh and processed meat. However, Vietnam is still far away from realising the full potential of this sector. The animal protein sector is not only fragmented, but also inefficient and unproductive compared to the developed world. To be more specific, Vietnamese farmers require 3.5 to 4 kilogrammes of feed on average to produce a kilogramme of pork, versus the 2.5 kilogrammes in the US. The result is that Vietnamese consumers pay 1.5-2 times the price of meat compared to the US, while GDP per capita is only one-tenth of that in the US. Affordability is a key issue. At the grassroots level, millions of Vietnamese people do not have the appropriate levels of daily protein intake required for good health. In particular, the rural population, which accounts for almost 70 per cent of Vietnam’s population, consumes less than half of what is recommended by the World Health Organisation (WHO). Meat consumption in Vietnam is 40 kilogrammes per capita, which is substantially lower than China (60 kilogrammes), South Korea (65 kilogrammes), the EU (75 kilogrammes), and the US (over 100 kilogrammes). So, what is the key to transform and unlock the potential of…... [read more]




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