The Hanoitimes – Under the newly-approved restructuring plan, the Vietnam National Chemical Group (Vinachem) will be allowed to hold over 65% shares at Apatite Vietnam. The Deputy Prime Minister Vuong Dinh Hue has signed the Decision approving the restructuring plan of Vinachem in period 2017 – 2020, as such, Vinachem will hold less than 50% stakes in seven companies and sell all of its stakes in 15 other companies. Vinachem is expected to start its equitization process in period 2018 – 2019. From now on, Vinachem will scale down its business lines to producing and trading basic chemicals; exploiting and processing minerals as raw materials for fertilizer and chemical production; producing and trading pesticides and fertilizers containing phosphorus. Specifically, Vinachem will have to divest all state fund from companies such as Ha Bac Nitrogenous Fertilizer and Chemical JSC, DAP-Vinachem JSC, DAP No. 2 – Vinachem JSC and Ninh Bình Nitrogenous Fertilizer and Chemical Co., Ltd in case these companies recover from losses and start having profitability. Currently, Vietnam Apatite Vietnam is the only company for which Vinachem is allowed to hold over 65% of its chartered capital. In addition, Vinachem will hold from over 50% to less than 65% of charter capital of seven companies including the Industrial Gases and Welding Electrode JSC, Viet Tri Chemicals JSC, the Southern Basic Chemicals JSC, Lam Thao Fertilizers and Chemicals JSC, Van Dien Fused Magnesium Phosphate JSC, Ninh Binh Phosphate Fertilizer JSC and Vietnam Pesticide JSC. Vinachem will hold less… [Read full story]
Landslides in Hoa Binh's Lac Son district (Photo: VNA)Hoa Binh (VNA) – Recent heavy rains and devastating floods in the northern mountainousprovince of Hoa Binh caused a total loss of about 1.63 trillion VND (71.75million USD).As of October 19, thedisasters, lasting from October 9-12, left 46 deaths, injured and missing. Twenty-ninebodies have been found.The majority ofpublic works in the locality were damaged, while over 3,100 houses werecollapsed and submerged by floodwater. As many as 905 households dealt with landslidesand were evacuated.Meanwhile, nearly2,700 hectares of rice, 3,242 hectares of maize and crop, and over 1,000hectares of fruit trees were inundated.Currently, all evacuatedfamilies…... [read more]
Drought and saline intrusion have caused 400 million USD losses About 433,000 household in these areas have suffered from daily water shortages. The severe weather has also resulted in losses of more than 249,000hectares of paddy and 19,000 hectares of farm produce, 30,194 hectaresof fruit-trees, 131,941 hectares of industrial crops and 5,137 hectaresof aquaculture.The Southern Institute of Water Resources Research forecasts salineinstruction in southern provinces would remain high in May if there wasno rain.Earlier, the Ministry of Natural Resources and Environment decided toprovide financial aid to 13 Mekong Delta and Central Highlands provincesto provide drought-affected residents water for daily use. The provinces…... [read more]
Of the total, 189 million USD was poured into 20 new projects, while525 million USD was invested in 19 ongoing projects, according to MaiHung Duong, Director of the provincial Department of Planning andInvestment. Notably, the Nexfil company from theRepublic of Korea invested 30 million USD into its newheat-insulating firm in the province, while the Thai paper manufacturerKraft Vina injected additional 150 million USD to expand its business.As part of efforts to lure more investors, Binh Duonghas developed an infrastructure system in 26 out of total 28 industrialparks, focused more on the quality of human resources and enhanced itsservice quality by…... [read more]
The Prime Minister has approved a sum of 69.4 billion VND (around 4.2 million USD) for the second stage of a project to build the Museum of the Cultures of Vietnam’s Ethnic Groups in northern Thai Nguyen province.In the first stage, an open-air display space is under construction on an area of 40,000 sq.m. of the museum. The space will features separate sections for the country’s six typical cultural areas, including the northern mountainous, valley, northern mid-land, central coastal, central highlands, and southern areas. The project is expected to be a destination for people to come and learn about the…... [read more]
Illustrative image (Source: EPA) Hanoi (VNA) – Vietnam’s leading internet security firm, Bach Khoa Internetwork Security Centre (BKAV), announced that Vietnamese users lost some 12.3 trillion VND (540 million USD) in 2017 due to viruses. The figure released by BKAV on its website recently showed that this year’s figure was much higher than last year’s 10.4 trillion VND. “It is expected that Vietnam would continue to face malware attacks, such as ransomware and malware containing crypto-mining tools,” BKAV said. The results were calculated from BKAV’s network security assessment in December 2017. It said that losses from viruses in Vietnam reached record levels…... [read more]
