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December 12

Released at: 11:52, 12/12/2017 PRESS WATCH

December 12

VET's round-up of news from Vietnamese media for December 12.

Construction of Hanoi smart city project to begin in Q1

A smart city project along the Nhat Tan-Noi Bai route in Hanoi with investment of $4 billion is expected to begin construction in the first quarter of next year. The news was disclosed at a meeting last Thursday between Chairman of the Hanoi People’s Committee Nguyen Duc Chung, President and CEO of Japan’s Sumitomo Corporation Kuniharu Nakamura, and Chairwoman of the BRG Group Nguyen Thi Nga to discuss the smart city project in Dong Anh district.

FPT IS a platinum partner of IBM

FPT Information System (FPT IS), a subsidiary of the FPT Group, has become the platinum partner of the US-headquartered IBM Corporation. IBM PartnerWorld is a program developed for any business that wants to partner with IBM. It includes four levels: registered, silver, gold and platinum. FPT IS has fulfilled the IBM criteria regarding business performance, expert certification, and customer satisfaction to reach the highest level for the corporation’s partners. FPT IS will receive more support and business and technology benefits from IBM. For instance, FPT IS will be invited to attend roundtable meetings with IBM’s global business leaders to discuss their plans and strategies. IBM will introduce FPT IS’s technology solutions on a global scale, and will help the company improve its capacity to come up with solutions, as well as get assistance from the corporation’s technical experts.

HCMC public investment to focus on traffic infrastructure

The Ho Chi Minh City People’s Council has approved the 2018 public investment plan, totaling nearly VND40 trillion ($1.7 billion), with traffic infrastructure taking the bulk besides environmental, educational, and healthcare projects. Around VND843 billion ($37.1 million) of the VND40 trillion is sourced from the State budget, VND2.86 trillion ($125 million) is official development assistance (ODA) capital, and VND36.1 trillion ($160 billion) comes from the city’s budget. To ease the problem of traffic congestion, the city government plans to increase the total area of road surface by almost 280,000 sq m, build eight bridges, urgently complete urban railway components, and promote transport by bus, with a target of 600 million passengers a year.

MARD adopts coffee plan

The Ministry of Agriculture and Rural Development (MARD) has approved a five-year coffee industry development project worth VND170 billion ($7.48 million), to improve coffee quality, develop a premium Vietnamese brand, and expand export markets.

Thai Duong Gas negotiating deals

Thai Duong Gas (Code: TDG) is negotiating two investment deals: buying shares in the Tin Nghia Petroleum Trading JSC and the Thai Duong Lao Cai Gas JSC. TDG will hold 45 per cent and 41.66 per cent, respectively, and can put its gas tanks into the existing distribution system of the two companies.

Insurance market up 21.2% in 2017

According to the Insurance Management and Supervision Department at the Ministry of Finance, the total insurance market was estimated at VND105.6 trillion ($4.6 billion) in 2017, an increase of 21.2 per cent against 2016. Insurance payouts were estimated at VND29.4 trillion ($1.3 billion), up 14.92 per cent against 2016. Total assets in the sector were estimated at VND302.9 trillion ($13.3 billion), up 23.44 per cent against 2016. Total investment return to the economy is estimated at VND247.8 trillion ($10.9 billion), up 26.74 per cent over 2016.

Wavemaker Vietnam comes into being

Wavemaker, a media, content and technology agency, has been established following the merger of MEC and Maxus, from December 5. Wavemaker Vietnam comes into operation with 85 members under the direction of CEO Arup Bansal. The company provides services to over 45 multinational and local companies such as Masan, Perfetti, Van Melle, Biersdorf, and Unicharm.

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