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December 21

Released at: 14:49, 21/12/2017 PRESS WATCH

December 21

VET's round-up of news from Vietnamese media for December 21.

New computer virus strikes

A virus using a name in the victim’s address book is being sent within a compressed file to many in Vietnam. The file, called “video _” with four random numbers, such as “video_3622.zip”, has been sent via the Facebook Messenger app to users in Vietnam. Such notifications are used to spread the virus, and when the user clicks on the link they are directed to a site where the virus could be downloaded onto their computer. According to Bkav Technology Group Vietnam, the new virus is only spread through the Google Chrome browser. The purpose of the malicious software is to take control of the target computer and mine virtual currencies. Computer will slow down significantly, making it almost impossible to use.

Machinery import draft not well received

A draft amendment from the Ministry of Science and Technology’s Circular No. 23 on the required quality of used machinery imports has come under fire for not amending the “rigid regulations” placing difficulties on enterprises. At last week’s Vietnam Business Forum (VBF) and at a meeting between Office of the Government Chairman Mai Tien Dung and the Japanese Chamber of Commerce and Industry (JCCI), the chamber called the draft amendment “a step backwards”, as used machinery in investment projects no longer receive exemptions from age requirements as set forth in the original draft of Circular No. 23, which aimed to encourage businesses to renovate technologies.

IFC provides ABBank with funds for SME lending

The International Finance Corporation (IFC) and Goldman Sachs 10,000 Women will provide a $110 million syndicated loan to the An Binh Commercial Joint Stock Bank (ABBank) to increase lending to small and medium-sized enterprises (SMEs). $40 million of the amount comes from IFC and the remaining $70 million from Industrial and Commercial Bank of China (ICBC), Bangkok Bank, and Maybank. The loan is the first batch of a $150 million financing package for ABBank, with the remaining $40 million to be pledged by two other international donors this month. At least 30 per cent of the package, or $45 million, is earmarked for woman-run SMEs with support from the Women Entrepreneurs Opportunity Facility (WEOF).

New Panasonic factory for Binh Duong

Panasonic Eco Solutions Vietnam Co Ltd (PESVN), a subsidiary of the Panasonic Corporation, inaugurated a new wiring device and circuit breaker factory in southern Binh Duong province on December 18, thus doubling its production capacity in Vietnam. Built in a 3,000 sq m site next to Panasonic’s existing factory at the Vietnam-Singapore Industrial Park II (VSIP II), the new factory, which costs $8.9 million, is expected to manufacture some 53 million wiring devices and 13 million circuit breakers annually. The products are for Vietnam and other Southeast Asian countries.

USG Boral expands plasterboard production

USG Boral, a Malaysia-based plasterboard manufacturer, has announced a $20-million investment in a plant at the Hiep Phuoc Industrial Zone in Ho Chi Minh City to expand its production in Vietnam. The plant will support USG Boral’s commitment to meeting growing demand in Vietnam for high-quality plasterboard. Production capacity is currently at 30 million sq m, which the new facility will increase by 17 million sq m to 47 million sq m when it becomes operational in September 2019.

242 million shares on offer at BSR IPO

The Binh Son Refining and Petrochemical Company Limited (BSR) plans to float 242 million shares, equivalent to 7.79 per cent of its charter capital, in an initial public offering (IPO) scheduled for January 17 on the Ho Chi Minh Stock Exchange (HoSE). The information was announced at a seminar held at HoSE on December 20. Each share will be sold at an initial price of VND14,600.

Da Nang calling for high-tech farm investment

The central city of Da Nang has called for VND1.5 trillion ($66.3 million) in investment in five high-tech farms to create a center for high-tech-farming in the central and central highlands region. The farms, part of the city’s high-tech farm master plan, will include livestock farms and a processing zone, mushrooms, organic and safe vegetables, herb gardens, a fishing port, and fish trading center on 144 ha straddling the three districts of Hoa Vang, Ngu Hanh Son, and Son Tra.

Keppel Land picks up two sites in HCMC

Keppel Corp’s subsidiary, Keppel Land, has entered into two conditional sale and purchase agreements to acquire two prime sites in Ho Chi Minh City, on which it plans to develop some 1,550 homes in total. The total development cost of the two sites amounts to $297 million.

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