PM directs pre-feasibility study report for Long Thanh Airport resettlement project

Information and communication technology group FPT Corporation has sold six million shares or 30 per cent of its stake in FPT Digital Retail JSC to funds managed by and associated with Dragon Capital and VinaCapital.— Photo Information and communication technology group FPT Corporation has sold six million shares or 30 per cent of its stake in FPT Digital Retail JSC to funds managed by and associated with Dragon Capital and VinaCapital. The deal completes the first stage of FPT’s plan to divest from its retail arm, FPT Retail, reducing its ownership to 55 per cent from the previous 85 per cent. The value of the deal was not revealed by either FPT or the two funds. FPT will still keep control over its retail unit with a post-sale 55 per cent stake, and the income from the deal may not be recorded in the group’s third-quarter earnings report. In the second stage of the divestment plan, FPT could sell an additional 10 per cent stake in FPT Retail to other investors via an initial public offering (IPO), HCM City Securities (HSC) had said in a report in July. The second stage is to be completed by the end of 2017. At the group’s annual shareholder meeting held in April, FPT Chairman Truong Gia Binh had said that selling the distribution and retail arm was a must so that FPT could become a pure ICT group with rapid growth. Andy Ho, chief…... [read more]

A customer looks at milk products at a Co.op Mart branch in the south central province of Ninh Thuan. — VNA/VNS Photo Lan Phuong A new circular that allows traders and importers to set retail prices of milk products for children below six years has not been well thought out and will be difficult to follow, enterprises say. However, several experts have welcomed the new regulations as a move that will promote transparency and protect consumers while respecting the rights of businesses to self-determine prices. The circular, issued by the Ministry of Industry and Trade (MoIT), is set to take effect on Thurday. Under Circular No 08/2017/TT-BCT, enterprises and co-operatives producing and importing milk products and food supplements for children under six years can fix retail prices for their products on their own, but they have the responsibility to declare and register these with the MoIT. The new circular covers domestic producers, importers, distributors and retailers of milk and supplement products containing milk. Firms will also have to announce their distribution system to the ministry so that authorised agencies can ensure that the milk products are being sold at the set prices. After considering acceptability of the prices registered, the MoIT will disseminate these as well as information about the distribution system of each enterprise and co-operative among local management offices so that the latter can co-operate with the ministry in supervising prices at the retail stage. The management offices…... [read more]

The Viet Nam Software Association (VINASA) has launched a programme to choose Viet Nam’s top 50 IT companies 2017, aiming to honour the leading IT firms and connect promising partners inside and outside the country.— Photo The Viet Nam Software Association (VINASA) has launched a programme to choose Viet Nam’s top 50 IT companies 2017, aiming to honour the leading IT firms and connect promising partners inside and outside the country. The programme will prioritise areas of digital transformation, Internet of Things (IoT) and new technology trends in the Fourth Industrial Revolution. According to the organising board, VINASA is receiving entries online at until August 12. Eligible companies must have been set up in Viet Nam and have been operating for at least three years.  Winners of the programme are scheduled to be announced on October 25-26 in HCM City within the framework of an international conference on smart cities and Japan IT Day 2017. In 2016, the programme honoured 20 enterprises in Business Process Outsourcing (BPO) and International Trade Office (ITO), along with 26 providers of IT solutions and services, and four digital content firms. The top 50 IT companies of Viet Nam 2016 were introduced at many world famous IT exhibitions and events. — VNS   ... [read more]

Tourism-dependent Guam is looking to cash in on its new-found fame as a North Korean missile target, tapping an unlikely promotional opportunity to attract visitors to the idyllic island and prove that all publicity is good publicity. Pyongyang's threats to launch four missile strikes near the U.S. territory has stirred global curiosity in the remote Pacific destination, with it trending heavily on search engines as social media users wondered, "what is Guam?" Although Guam hosts two U.S. military installations and 6,000 U.S. soldiers, making it the target of North Korea's wrath, tourism authorities are keen to dispel any impression of danger to the tranquil island and its secluded beaches. "The circumstances are unfortunate but this is a good opportunity for us to educate the world about Guamand our culture, about where we are, and who we are," said Josh Tyquiengco, marketing director at GuamVisitors Bureau, the official agency for the island. "Guam is more than a military base. We are a safe family destination. We reassure potential visitors that we continue to be a safe... place to visit," Tyquiengco told AFP. Despite North Korea's threats to prepare plans within days that would surround Guam with "enveloping fire", fears of a potential attack have not deterred tourists from visiting Guam, he said. "We heard about a few booking cancellations from South Korea, but it's too minimal to affect the industry," he said. Governor Eddie Calvo, in a briefing late Friday, said any attack on Guam "would be met with overwhelming…... [read more]

ALEXANDRIA: At least 37 people were killed as two trains collided on Friday (Aug 11) outside the Mediterranean city of Alexandria, in one of the deadliest in a string of such accidents in Egypt, the health ministry said. Onlookers gather at the scene of a train collision just outside Egypt’s Mediterranean port city of Alexandria on Aug 11, 2017, where two trains collided killing dozens of people and injuring over 100 in the country’s deadliest rail accident in more than a decade. (Photo: AP/Ravy Shaker) The crash also injured 123 people, the ministry said in a statement. Footage on the state broadcaster showed one train had partly keeled over in the crash, and medics were seen moving the dead and injured to ambulances. Transport ministry officials, quoted on state television, said the crash was probably caused by a malfunction in one train that brought it to a halt on the rails. The other train then crashed into it. One train had been heading from Cairo to the northern city of Alexandria and the other from the canal city of Port Said, east of the capital, to Alexandria. The dead and injured were initially placed on blankets in a field beside the tracks running through farmland on the outskirts of the city. The health ministry said 75 ambulances had been dispatched to treat casualties and that all the hospitals in…... [read more]

The abolition of people’s councils, permitting casinos to be set up and allowing foreign investors to lease land for 99 years are among the main provisions of a proposed new law to govern the three special administrative-economic zones in Việt Nam. Vân Đồn in Quảng Ninh Province, like Vân Phong in Khánh Hoà and Phú Quốc in Kiên Giang, is a special administrative-economic zones which is expected to see sea changes under a proposed new law. - Photo Speaking at the 2017 M&A Forum organised on Thursday by the Việt Nam Investment Review, Minister of Planning and Investment Nguyễn Chí Dũng said in recent years many important laws have been enacted or are being drafted. The Special Administrative Economic Zone Law is expected to create a proper legal framework for the three zones in Vân Đồn (Quảng Ninh Province), Vân Phong (Khánh Hòa Province) and Phú Quốc (Kiên Giang), he said. It aims to create a new development model with breakthrough policies and mechanisms meant to improve the investment environment and make Việt Nam competitive in attracting investment. The zones will only have an administrative committee and no people’s council, and the latter’s role related to legislation and inspection would be taken over by provincial authorities, he said. “To effectively operate these special zones, we should remove unnecessary and inappropriate levels of special economic zones.” The ministry has also proposed increasing…... [read more]

The third APEC Senior Officials’ Meeting and related meetings (SOM 3), slated for August 18-30 in Ho Chi Minh City, will continue accelerating the implementation of cooperation contents of the Asia-Pacific Economic Cooperation (APEC). SOM 3 will also work on priorities approved at SOM 1 and SOM 2 while setting forth the content and program of the APEC Economic Leaders’ Week scheduled in the central city of Da Nang in November this year. There will be 75 meetings of four committees, 38 working groups and sub-groups on trade liberalization and investment, business preference,  economic network, overall development, quality growth, SMEs, science, technology, innovation, technology, anti-corruption, healthcare, response to urgent cases, structural reform, and economic integration. On this occasion, delegates will accelerate the implementation of long-term programs and plans in key areas towards realization of specific priorities in APEC 2017 and long-term goals of APEC on trade liberalization and investment. APEC committees and working groups will discuss on orientations of documents of APEC ministers in preparation for programs of the APEC Summit Week, scheduled this November in Da Nang. APEC 2017 SOM Chair Bui Thanh Son will chair SOM 3, workshops on economics, finance, and social affairs. Vietnamese Minister of Health Nguyen Thi Kim Tien will chair the seventh APEC High Level Meeting on Health and Economy; six related meetings on health. From August 21-25 in Can Tho City, the Ministry of Agriculture and Rural Development…... [read more]

Normal 0 false false false MicrosoftInternetExplorer4 The Foreign Investment Agency (FIA) under the Ministry of Planning and Investment reported that foreign direct investment (FDI) flows into Vietnam, including capital from newly registered projects, capital added to existing projects and capital used to buy shares, was US$21.93 billion in the first seven months of 2017, up 52 per cent over the same period of 2016. Disbursed capital was estimated to reach US$9.05 billion in the period, up 5.8 per cent year on year. 98 out of 122 countries and territories with existing investment projects in Vietnam invested in Vietnam. South Korea topped the list with US$5.62 billion, accounting for 25.63 per cent of the total foreign investment value, followed by Japan with US$5.46 billion, or 24.92 per cent of the total. Singapore came third with US$3.8 billion, accounting for 17.3 per cent of the total value. In the January - July period, Vietnam had 72,953 business start-ups with a total registered capital of VND690.7 trillion, up 13.8 per cent in unit and 39 per cent in value over the same period in 2016. In the opposite direction, it witnessed 6,608 companies completing dissolution procedures, up 2.9 per cent over the same period of last year. Of the sum, 6,104 companies had a registered capital of less than VND10 billion, accounting for 92.4 per cent of total bankruptcies. Gia Phuc   ... [read more]

Normal 0 false false false MicrosoftInternetExplorer4 This goal is defined in the Vietnam commodity export competitiveness improvement scheme to 2020, with a vision to 2030, recently approved by the Prime Minister. The specific objective of the 2016 - 2020 period is to achieve an average annual commodity export growth of 8 per cent. The commodity export value in 2020 will more than treble that in 2010, equalise the trade balance in 2020 and reach a trade surplus in 2021-2030. At the same time, the Government also aims to increase the added value of agricultural and aquatic products by 20 per cent on average from the current level. Vietnam will gradually raise the share of agricultural and aquatic exports to developed markets (e.g. the European Union, Japan and South Korea). After 2030, an average commodity export growth will be 9 -10 per cent annually from the 2021 - 2030 phase. Prioritised items subject to enhancing competitiveness include agricultural and aquatic products like rice, coffee, rubber, seafood and black pepper; manufactured industrials like garment and textile, footwear, woodwork, mobile phones, computers, electronic products and components; and raw materials used for garment and textile, leather and footwear, plastic, fertiliser and chemical industries. Market policies and solutions In order to successfully achieve these objectives, main solutions have been introduced, including reshuffling production by transforming production and export methods; changing export structures in the direction of raising the share of…... [read more]

Dragon Capital and VinaCapital have completed the purchase of a 30 per cent stake, equaling six million shares, in FPT Retail, aiming to plunge deeper in the retail sector in general and the mobile retail sector in particular.     The two investors bought 30 per cent of FPT Retail's stakes Managing director of VinaCapital Andy Ho told NDH that VinaCapital prioritises pouring capital into the Vietnamese retail sector. Besides, mobile phone sales are currently having a great development potential because of the increasing demand in Vietnam. Thus, VinaCapital decided to invest in FPT Retail, a leading Vietnamese retailer. Vu Huu Dien, investment director of Dragon Capital, stated, “Vietnam is considered one of the most attractive retail markets on the world with a population of nearly 100 million and retail revenue of more than $110 billion. With the professionalism of FPT Retail’s management team as well as the leadership’s experience in running the operations, FPT Retail will definitely go far in the retail sector.” This deal is a part of FPT Corporation’s plan to divest from FPT Retail, reducing its stakes from 85 to less than 50 per cent. Accordingly, FPT will first sell 30 per cent of its stakes to financial institutions. Then, the corporation will divest another 10 per cent to other investors via securities firms. FPT is expected to complete its divestment in 2017. FPT Retail will submit its IPO…... [read more]

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