maandag 24 juni 2019

Vietnam: PV Power quickens work on LNG-fired power projects

PV Power quickens work on LNG-fired power projects

VOV PetroVietnam Power Corporation will hasten the implementation of Nhon Trach 3 and Nhon Trach 4 liquefied natural gas – fired power projects by maximizing its effort to finalize the investigation work and feasibility study of these projects within 2019. Ho Cong Ky, Chairman of PetroVietnam Power Corporation (PV Power), unveiled the goal during a 17... View Article

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Firms urged to be more active under FTAs' pressure

VNA/VOV The participation in new-generation free trade agreements (FTAs) has proved to be a driving force for exports but also posed challenges for Vietnamese firms in meeting importers' requirements and competing with foreign rivals right in the domestic market. Since Vietnam entered the World Trade Organisation in 2007, it has negotiated 16 FTAs, 12 of... View Article

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European high-end interiors brands flock to Vietnam

Vnexpress/VOV Vietnam is attracting Italian and other European interior manufacturers with its strong demand for premium furniture. Products made by 10 European brands including Baxter, Ceccotti Collezioni and Dimensione Chi Wing Lo were recently on display at a new 2,000-square-meter showroom in Hanoi. Ly Qui Trung, CEO of Vietnamese company AKA Furniture, said demand for... View Article

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Local logistics sector amid Industry 4.0

VNS/VNA/VOV Vietnamese logistics firms are embracing technology to optimise their costs and improve their competitiveness, according to experts. According to the Vietnam Logistics Business Association (VLA), the fourth industrial revolution and breakthroughs in technology have brought about many changes in the logistics industry. Keeping up with technological trends to keep pace with the global industry... View Article

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European enterprises back early signing of EVFTA

VNA/VOV Minister of Industry and Trade Tran Tuan Anh on 18 June met with representatives from several European business associations to discuss measures to speed up the signing of the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Promotion Agreement (EVIPA) as part of his working visit to the EU and Belgium. Anh updated... View Article

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Vietnam prepares for competitive electricity market by 2021

Vietnamnet/VOV Not much work has been done to prepare for the opening of the competitive retail market, slated for 2021. Under the PM Decision released in October 2013, the competitive electricity market will take shape in a 3-stage roadmap. The competitive wholesale market was projected to be running on a trial basis in 2015-2016 before... View Article

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Enterprises need policies for digital economy

VNS/VOV Enterprise development and the digital economy need to be prioritised in policies, said Deputy Chairman of Vietnam's Committee for State Capital Management Hồ Sỹ Hùng. Speaking at a forum on business development held by the Institute for Brand and Competitiveness Strategy in Hà Nội on 18 June, Hùng said domestic enterprises are still small... View Article

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Foreign capital flows through Vietnamese banks

Hanoitimes/VOV Local banks have provided syndicated loan value of USD2 billion so far in 2019. As capital demands of Vietnamese firms are rising sharply, local banks are increasingly cooperating with foreign financial institutions to provide offshore loans, making the business become lucrative. A series of banks, such as LienVietPostBank, SHB, OCB, VPBank, TPBank, Techcombank, have... View Article

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Fitness industry grows as Vietnam becomes body conscious

Vnexpress/VOV With interest in fitness activities picking up in Vietnam, gymnasium chains are earning big bucks. California Fitness and Yoga reported revenues of over VND300 billion (USD12.85 million) last year, up 6% from 2017 and 60% from 2016. It is the leader with 32 centers across the country and 100,000 members. The chain, founded by an... View Article

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E-wallet firms tussle for bigger slice of the pie

Vnexpress/VOV Recent mergers and acquisitions in Vietnam's fintech industry indicate a strategic fight for e-wallet market share. Vimo Technology JSC, a mobile wallet provider, and Vietnam mPOS Technology JSC, which develops portable point-of-sale technology, recently merged into one entity called NextPay Holdings. NextPay Holdings aims to raise USD30 million from foreign investors as it seeks an upper... View Article

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VMAC builds strategy for debt trading

VNS/VOV The Vietnam Asset Management Company (VAMC) is planning to develop a new strategy for buying and selling bad debts in Vietnam this year, in which it will play a central role to promote the development of the debt trading market. The company expected to submit the plan to authorities for approval and bring the market into... View Article

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Vietnam to take Presidency of Asian Payment Network

VNA/VOV The National Payment Corporation of Vietnam (NAPAS) has become the President of the Asian Payment Network (APN) for 2020 at the recent 15th annual meeting of the network in Hanoi. Payment organisations from 11 member nations of APN agreed to jointly build retail payment infrastructure for countries in the region. The event focused on... View Article

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Payments for electricity bills go cashless

VNA/VOV Vietnam Electricity (EVN) will promote electricity bill payment via digital mode of transactions in 2019. Aiming to double the number of customers using cashless payment, EVN's members are working with the People's Committees of cities and provinces nationwide to boost electricity charge collection via automatic debt deduction, SMS & mobile banking, internet banking and... View Article

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Foreign giants pull components manufacturers to Vietnam

Hanoitimes/VOV The influx of multinational corporations into Vietnam will help the country become more attractive to many other foreign components suppliers and solidify its position as a global manufacturing hub. Foreign parts manufacturers, especially in the electronics industry, are coming to set up production bases in Vietnam in the wake of the investment wave of... View Article

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Vietnam sees surge in auto sales

Vnexpress/VOV Auto sales rose by 22% year-on-year to 126,753 units in the first five months of the year, the Vietnam Automobile Manufacturers Association says. Sales of passenger cars rose by 35% and commercial vehicles sales by 0.2%, but sales of special-purpose vehicles plummeted by 39%. In May alone, the vehicle sales surged 19% to 27,480... View Article

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State Treasury mobilises 2 trillion VND from G-bond auction

VNS/VOV The State Treasury has mobilised 2 trillion VND (86 million USD) from selling Government bonds at an auction held at the Hanoi Stock Exchange this week. The bonds were divided into five-year, 10-year and 15-year terms. The State Treasure sold 1 trillion VND worth of 10-year bonds with an annual interest rate of 4.65... View Article

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