Thai billionaire spends US$5 billion to acquire Sabeco stake The Sabeco stake auction took place on December 18, 2017. Vietnam Beverage, the company which has relations with Thai billionaire Charoen Sirivadhanabhakd, became a new shareholder of the Vietnamese largest brewer. At the bidding price of VND320,500 per share, Vietnam Beverage bought a 53.59% of Sabeco offered by the state. An individual investor, Ngo Vinh Hien, also acquired 20,000 shares at VND320,000 per share. Together with Vinamilk, Sabeco is among the most profitable state-owned enterprises. The Gioi Di Dong takes over Tran Anh With a budget of VND2.5 trillion approved by shareholders, The Gioi Di Dong (Mobile World Group), the largest mobile phone distributor, kicked off a campaign to take over retail chains. Tran Anh, a hi-tech product and home appliance retailer, was the first goal of The Gioi Di Dong. Analysts say The Gioi Di Dong targets Tran Anh because this is the fastest way to help The Gioi Di Dong conquer the northern market. According to HCM City Securities, The Gioi Di Dong is now holding a 30% market share in mobile phone distribution with Thegioididong brand, equal to FPT Shop’s, and 15% of market share for home appliance distribution with Dien May Xanh brand, equal to Tran Anh or Media Mart. Novaland takes over series of large projects The company bought many ‘golden land plots’ in central business districts in HCM City in 2017 and revived many ‘frozen’ projects. In late February 2017, Novaland spent VND213 billion acquiring… [Read full story]
Speaking at the opening ceremony, Deputy Prime Minister Trinh Dinh Dung said that the free trade agreement between Vietnam and the Eurasian Economic Union is opening up more cooperative opportunities for Vietnam and Russia and other signatories. He asked the two countries’ business communities to actively study the agreement’s contents to take advantage of opportunities brought by this agreement. Russia is Vietnam’s important trade partner with two-way trade hitting US$3.2 billion in the first 11 months of 2017, or a year-on-year rise of 26.7%. However, the figure is quite modest compared with the target of US$10 billion in 2020 set…... [read more]
Editor’s note: State President Tran Dai Quang addresses the APEC summit and its vision as chair of the 25th APEC Economic Leaders' Meeting, when the event is taking place in Da Nang, located in central Vietnam.Twenty eight years ago, the Asia-Pacific Economic Cooperation (APEC) forum came into being. Ever since, APEC has been growing vigorously, living up to the role as the region’s premier economic forum. In a globalized and changing world and a dynamic Asia-Pacific, APEC is facing both new opportunities and challenges. As the host of APEC 2017, it is Vietnam's mandate to work with other member economies to…... [read more]
Deputy PM Vu Duc Dam (front, second, right) talks to startup representatives at the Techfest Vietnam 2017 (Photo: baodautu.vn)Hanoi (VNA) – The annual startup promotion event Techfest Vietnam 2017,themed “Ecosystem connect”, began in Hanoi on November 14.Addressingthe opening ceremony, Deputy Prime Minister Vu Duc Dam stated Vietnam welcomesinternational investors and scientists to join its innovative efforts, makingcreative startup a practical movement. Alegal framework coupled with support from the Government and succeeded pioneersare key to the startup development, he added.Onthe occasion, the Ministry of Science and Technology debuted the nationalportal for startup and innovation – www.startup.gov.vn – to help people access…... [read more]
Nike opens biggest store in VietnamBy Quoc Hung - The Saigon Times DailyThe new Nike store covering 600 square meters on the first floor of the Crescent Mall is also the first store to sell basketball items and the second one to offer sports apparel and equipment for kids of the brand Young Athletes. Nike now has 14 stores in Vietnam.... [read more]
The Global HR Forum in Vietnam 2017 will be held by the Ministry of Education and Training, South Korea’s Ministry of Education, and The Korea Economic Daily on December 14-15 at the Melia Hanoi Hotel. This year’s forum commemorates the 25th anniversary of formal diplomatic relations between Vietnam and South Korea. The three sides jointly organized this inaugural forum with the mutual goal of spreading global prosperity through collective human intelligence and human resources development.The theme of this year’s Global HR Forum in Vietnam is the “Miracle on Han River to Miracle on Red River.” Around 30 opinion leaders, experts, and…... [read more]
