Conversations on Vietnam Development
HANOI, Vietnam – Vietnamese police have widened their investigation into alleged graft and mismanagement connected with the state-owned oil and gas giant PetroVietnam that caused $69 million in losses.
Three PetroVietnam subsidiaries are being investigated for alleged abuse of power in appropriating $5.3 million, the Ministry of Public Security said in a statement late Wednesday. Tiếp tục đọc “Police widen probe of alleged graft linked to PetroVietnam”
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| The Bắc Luân II Bridge is expected to promote China- Việt Nam economic co-operation. – VNS Photo: nhandan.com.vn |
Viet Nam News QUẢNG NINH – The opening of the Bắc Luân II Bridge is a promising China – Việt Nam economic co-operation, according to Nguyễn Đức Long, Chairman of Quảng Ninh Province People’s Committee.
Deputy Prime Minister Trương Hòa Bình and Chinese ambassador to Việt Nam Hong Xiaoyong attended the bridge’s opening ceremony in Móng Cái City yesterday. Tiếp tục đọc “$15 million China – Việt Nam bridge opens to traffic”
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| Long vehicles run on the new freight route connecting Việt Nam and China on Monday. — VNA/VNS Photo Thái Thuần |
Viet Nam News LẠNG SƠN — Deputy Prime Minister Trương Hòa Bình announced on Monday the opening of a freight route connecting Việt Nam and China.
The route passes through the Hữu Nghị (Friendship) International Border Gate in the northern province of Lạng Sơn. Tiếp tục đọc “Việt Nam-China freight route opens to traffic”
Despite being in its early stages of development, Vietnam’s logistics sector remains on the radar of foreign investors thanks to the country’s skilled workforce, relatively low costs, and rapid e-commerce development.
Samsung signed an agreement to cooperate with the Minh Phuong Logistics Corporation, one of Vietnam’s leading logistics companies, in July, according to South Korean media, and this was not the first time it has announced an investment in Vietnam’s logistic market.
Broad appeal
Samsung said in a statement that it had closed a deal with Minh Phuong to establish a joint enterprise. This is the fourth time Samsung SDS has launched a joint enterprise in order to establish itself in an overseas market, and is the second time in Vietnam. Tiếp tục đọc “Logistics: Out to the world”
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| Cổ Chiên Bridge between Bến Tre and Trà Vinh provinces in the Mekong Delta was built in 2015. — VNS File Photo |
HCM CITY — Construction of two bridges linking Cao Lãnh City and Lấp Vò District in Đồng Tháp Province and Đồng Tháp with Cần Thơ, which are under way, will be a big boost to transportation and connectivity in the Mekong Delta.
But locals can look forward to further development of the transport infrastructure in the near future. Tiếp tục đọc “Infrastructure to aid Mekong development”
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| Only about 17 per cent of listed companies comply with information disclosure regulations, lower than the figure in 2016, according to the Vietnam Association of Financial Executives (VAFE).— Photo tapchitaichinh.vn |
HÀ NỘI — Only about 17 per cent of listed companies comply with information disclosure regulations, lower than the figure in 2016, according to the Vietnam Association of Financial Executives (VAFE).
The figure was reported by VAFE in its latest survey on companies that are listed on both the HCM City and Hà Nội stock exchanges over their compliance of information disclosure regulations.
Tiếp tục đọc “Local firms fail miserably with information disclosure”
SDG Challenge 2017 on VTV News 15h 21/08
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| An overview map of Deep C Industrial Zone. — VNS Photo |
HCM CITY – Tiền Phong Industrial Zone JSC and Russia’s Seaport of Azov on Friday agreed to transform 100 hectares in Quảng Ninh Province into a hub for industrial manufacturing and port operations.
The memorandum of understanding (MoU), signed by Tiền Phong Industrial Zone JSC, in which Deep C consortium (Rent A Port) is a majority shareholder, and the Russian giant in port development and operations, agrees to start work on the Việt Nam-Russia Industrial Complex soon, provided the Vietnamese Government offers its support in speeding up the process. Tiếp tục đọc “Quảng Ninh to get new port, industrial complex”
Hải Lý Thứ Năm, 7/9/2017, 07:40 (GMT+7)
Tổng số tiền thời điểm cao nhất mà tập đoàn Dầu khí gửi ở OceanBank lên tới 25.000 tỉ đồng. Ảnh: Đào Loan
(TBKTSG) – Có những số liệu và tầm quan trọng của chúng mà dư luận chỉ có thể biết được qua những ngày xét xử phiên tòa vụ án Ngân hàng TMCP Đại Dương (OceanBank). Theo ông Hà Văn Thắm, nguyên Chủ tịch hội đồng quản trị OceanBank, khai tại tòa có thời điểm tập đoàn Dầu khí (PetroVietnam) đã gửi ở ngân hàng này tổng cộng đến 20.000 tỉ đồng, chiếm khoảng 50% tổng vốn huy động của OceanBank. Còn ông Ninh Văn Quỳnh, nguyên kế toán trưởng PetroVietnam lúc bấy giờ và là Phó tổng giám đốc PetroVietnam sau này, vừa bị Cơ quan Cảnh sát điều tra Bộ Công an tống đạt quyết định khởi tố và bắt tạm giam ngày 31-8-2017, trả lời tòa tổng số tiền thời điểm cao nhất mà tập đoàn Dầu khí gửi ở OceanBank lên tới 25.000 tỉ đồng. Tiếp tục đọc “OceanBank – ngân hàng sân sau của PetroVietnam”
Despite having fallen to the fourth position in terms of foreign direct investment in the first eight months of 2017, the real estate sector remains the second-biggest recipient of this type of investment to date.
Though realty is fourth in FDI for eight months, it remains the second-largest earner overall
According to the Ministry of Planning and Investment’s Foreign Investment Agency, between January and August 20, the real estate sector stood in fourth with regards to foreign direct investment (FDI) inflows – with 46 newly-registered projects and 15 others increasing their capital, totalling more than $1.16 billion.
Real estate FDI is behind the sectors of manufacturing and processing ($11.69 billion), power processing and distribution ($5.36 billion), and mining ($1.28 billion). Tiếp tục đọc “Real estate remains 2nd largest FDI lurer in VN”
VietNamNet Bridge – Of 12 projects, six projects were implemented under EPC contracts (engineering, procurement and construction), and most of the contracts were signed with Chinese contractors.
The Ministry of Industry & Trade (MOIT) and relevant ministries have released 120 documents on the settlement of problems in 12 huge unprofitable projects. However, the effects remain unclear.
Bui Quang Binh from Da Nang University commented that releasing legal documents was only one step in implementing state management. In order to bring the instructions into implementation, there must be other control and supervision mechanisms. Tiếp tục đọc “12 multi-trillion VND projects reap little profit for state”
VietNamNet Bridge – The great advantages of Vietnam’s business environment and its membership in FTAs and the AEC have helped to attract many investors from Asia.
The Ministry of Planning & Investment (MPI) report said that in the first eight months of the year, foreign investors pledged to invest $23.36 billion in Vietnam, an increase of 45 percent compared with the same period last year.
At least 1,624 new projects have been licensed this year with total registered capital of $13.45 billion, up by 37.4 percent over the same period last year. In addition, 773 projects received approval for expansion with additional registered capital of $6.4 billion, up by 40.2 percent. Tiếp tục đọc “FDI to Vietnam is mostly from Asia, with South Korea ranked first”
MoT is the first specialised state management agency to give feedback on the Hanoi People’s Committee’s latest proposal regarding investment plans for the metro railway projects. Tiếp tục đọc “Hanoi to green-light three metro lines worth over $15 billion”
VietNamNet Bridge – Formerly a country that exported crude oil at low prices, Vietnam now produces petroleum products which can satisfy half of domestic demand.
Vietnam’s oil refining industry is built based on two huge projects capitalized at multibillion dollars – Dung Quat Oil Refinery and Nghi Son Petrochemical & Oil Refinery Complex.
In 2009, the $3 billion Dung Quat Oil Refinery began to use crude oil from the Black Tiger oil field. From May 30, 2010, Dung Quat officially entered the commercial operation period. Tiếp tục đọc “Vietnam to see cutthroat competition in petroleum market”
VietNamNet Bridge – Some years ago, analysts predicted that modern distribution channels would develop rapidly in Vietnam as income continued to rise.
The prediction has been realized, but convenience stores, not large supermarkets, are the favored channel.
Market analysts have found that consumers now prioritize convenience when choosing shops. They are no longer excited about the opening of new hypermarkets as they were in the past, but often prefer to shop at convenience stores near their houses. Tiếp tục đọc “Consumers prefer small convenience stores over giant supermarkets”
CVD 