04:36 (GMT +7) - Sunday 19/08/2018

PRESS WATCH

December 20

Released at: 11:01, 20/12/2017 PRESS WATCH

December 20

VET's round-up of news from Vietnamese media for December 20.


MoF signs loan agreement with Kuwait Fund

Officials from the Ministry of Finance signed a $9 million loan agreement from the Kuwait Fund on December 19 for a coastal infrastructure development project on climate change resilience in Thai Thuy district in the northern province of Thai Binh. Deputy Minister of Finance Tran Xuan Ha and Deputy Director-General of the Kuwait Fund Hesham Al-Waqayan signed the agreement.

Song Da to auction 219 million shares at IPO

The State-owned Song Da Corporation will offer 219 million shares at its initial public offering (IPO) on December 25. The shares will be auctioned at the Hanoi Stock Exchange (HNX) at a starting price of VND11,000 (48 US cents) a share. The offering accounts for 48.82 per cent of the company’s charter capital. According to the IPO plan, following equitization, the company’s charter capital will be VND4.5 trillion ($200 million), 51 per cent of which will be held by the government. The company plans to sell 822,000 shares to employees at preferential prices.


Japanese visa processing time increased

Vietnamese passport holders must wait three more days when applying for Japanese visas at the Embassy of Japan in Hanoi, with effect from early next year. The embassy said in a statement released on December 18 that the time required for processing visa applications will rise from five working days to eight, starting from January 4. However, those applying for Japanese visas through local travel agencies accredited by the embassy will not be affected.

VNA & USTH strike training deal

The Vietnam Airlines Engineering Company (VAECO), an arm of national flag carrier Vietnam Airlines (VNA), and the University of Science and Technology of Hanoi (USTH) have clinched an agreement to jointly train aeronautical staff, especially aircraft maintenance engineers. The two sides will cooperate in a Bachelor’s program in aeronautical engineering and a Master’s in international air transport operations management. USTH will coordinate with VNA to promote the two programs and enroll students and will also provide facilities and lecturers.


Nafood Group processing facility under construction

The Ministry of Agriculture and Rural Development and the People’s Committee of northern Son La province held a breaking ground ceremony on December 19 for a fruit and vegetable export processing facility invested by the Nafood Group and officially announced that the first lemon shipment from Vietnam is heading to the EU.


Trade hits $400 billion

Total trade revenue this year reached $400 billion in mid-December, representing a four-fold increase over the last decade. At a ceremony marking the record figure, held in Hanoi on December 19, Deputy Prime Minister Vuong Dinh Hue said the country first achieved $100 billion in foreign trade value in 2007, the year it joined the World Trade Organization. The figure rose to $200 billion in 2011 and $300 billion in 2015.

Sao Mai complex in Ca Mau breaks ground

Construction of the five-star Sao Mai international hotel complex began at the Nhut Hong new urban area in Ca Mau city, in the Mekong Delta’s Ca Mau province, on December 19. The 23-story hotel is owned by the Sao Mai Group and has investment of more than VND700 billion ($30.87 million). It has a total area of 46,000 sq m with 200 rooms and five-star services. Once operational in 2019, the complex is expected to create a new look for the region, create jobs for local people, and meet demand for high-end accommodation among tourists and local residents.

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