With this revenue, the parent company and nine subsidiaries of EVN are profitable in the past year. However, the specific profit of each subsidiary is not published in the report on business results at the end of the year. Illustration photo. Also in 2017, electricity produced and purchased by EVN is expected to reach 192.45 billion kWh, increasing by 8.6% over 2016. Commercial electricity is estimated at 174.05 billion kWh, increasing by 8.92% compared by 2016. Electricity production capacity of EVN reached 1.92 million kWh / person, increasing by 9% compared to 2016. EVN preserves and develops the state capital, the total value of assets estimated at the end of 2017 is VND 707,270 billion (increasing by VND 15,053 billion compared to 2016), of which owner’s equity is VND 216,510 billion ( increasing by VND 11.275 billion). With total assets exceeding VND 700 billion, EVN becomes the second largest group in Vietnam, after Petrovietnam. In 2017, EVN contributed VND 15,870 billion to State budget. Regarding equitization and divestment, EVN is implementing the equitization plan of Power Generation Corporation 3. Currently, the group is completing procedures for valuing Power Generation Corporation 1 and 2, to complete equitization in 2018. During the year, the group and companies reduced capital in 8 shareholding companies with divestment/ reduction amount of VND 269.54 billion, revenue of VND 386.58 billion and surplus of VND 117 billion. At the meeting, Deputy Prime Minister Trinh Dinh Dung said he highly appreciated EVN’s efforts in the past year… [Read full story]
Competitive advantages from a cutting-edge technology platformPymepharco, formerly known as Phu Yen Pharmaceutical and Medical Supplies JSC, was established on July 23, 1989, in the central province of Phu Yen. From the very beginning, Pymepharco’s Board of Directors chose not to compete with a low pricing strategy, but opted for the high-end product segment.A typical example is Cephalosporins produced in high-tech manufacturing facilities, including powdered tablets and dry-powder injections which are widely used in electroconvulsive therapy treatments (ETC). Therefore, the investment in new modern machinery and equipment, as well as advanced technology, along with the efforts to build a team…... [read more]
France’s AXA Insurance Group will pay EUR54 million (US$450 million) to acquire 16.6 per cent stake in the Vietnam’s second largest non-life insurer, Bao Minh Insurance Corp, AXA said on September 12 in Ho Chi Minh City. Vietnam's insurance sector has expanded rapidly in recent years, being supported by the country’s economic growth of 8 per cent in 2005 and 2006 and expected 8.5 per cent this year. “We are interested in expanding our operations in promising markets with a good economic outlook,” said CEO Jan Van Den Berg of AXA's Asia-Pacific General Insurance. With the alliance with French insurer, Bao Minh will…... [read more]
Commerzbank AG, Germany’s second largest bank, will officially inaugurate a representative office in Ho Chi Minh City in October, aiming to set its foothold in Vietnam, one of the most dynamic economies in Asia, according to the bank’s press release. Peter Born, the bank’s vice president and chief representative in Vietnam, said that his bank, as a leading commercial and foreign trade bank from one of the world’s top exporting and importing nations, saw great business potential in Vietnam. The Ho Chi Minh City representative office will target at strengthening the relationship with Vietnamese financial institutions engaged in international banking, he…... [read more]
The world’s second largest population of the critically endangered Delacour’s langur was recently discovered by Fauna & Flora International (FFI), giving fresh hope for one of the planet’s rarest species. Photo: Nguyen Van Truong (FFI) Following reports of sightings in a once largely unexplored forest in north Vietnam, scientists from conservation NGO FFI Vietnam conducted field assessments to ascertain whether this species does indeed live in the area. "Our surveys and assessment revealed that there was a population of significant size. We detected seven groups of Delacour’s langur, with the total number of primates in the population being as high…... [read more]
Vietnam has become China’s second largest ASEAN trade partner in2014, only after Malaysia, the China-ASEAN Business Council (CABC)’sreport revealed on January 30. According to theChina-ASEAN Free Trade Area (FTA) Q4 Report, China’s trade with Vietnamrecorded a growth rate of 27.73 percent while that with Myanmar hit 146percent. The total trade between China and the ASEANcountries in 2014 accounted for 11.16 percent of China’s overall foreigntrade volume, an increase of 10.66 percent against 2013. CABC Executive Director-General Xu Ningning said the bilateral traderose by 8.3 percent to 480.4 billion USD last year. Of the figure, Chinaimported 208.3 billion USD worth of…... [read more]
