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December 5, 2016

Released at: 21:00, 05/12/2016 PRESS WATCH

December 5, 2016

VET's daily round-up of news from Vietnamese media for December 5

Government’s debts increase to $16.8 billion in 11 months

The Government borrowed a total of VND 388 trillion ($16.86 billion) from both domestic and foreign sources in the first eleven months of this year, including $5 billion in foreign loans and nearly $12 billion in bond-issued capital.

Foreigners pour $17 billion into VN’s markets

Viet Nam's stock market has attracted $17.3 billion from foreign investors in the first eleven months of this year, said Vice Minister of Finance Tran Xuan Ha at the Vietnam Business Forum held on December 5. The official renewed the government’s pledge to help foreign investors increase ownership at listed companies and to accelerate equitization of State-owned enterprises with a view to raising market capitalization of all listed shares to 70 per cent of GDP in 2020 from 42 per cent currently.

InterContinental Danang Resort makes World Travel Awards hat-trick

InterContinental Danang Sun Peninsula Resort in the central coastal city of Da Nang has been named the World’s Leading Luxury Resort by the World Travel Awards (WTA) at a ceremony held in the Maldives recently. With this victory, the Resort has become the world’s first and only resort to win the WTA’s category three years in a row, 2014, 2015, and 2016.

Japanese businesses concerned about VN’s high salaries

The Japanese Business Association in Vietnam “complained” at the Vietnam Business Forum held in Hanoi on December 5 that salaries in Vietnam have risen strongly, nearly catching up to higher-income countries in the region with minimum rate in 2016 similar to that of the Philippines ($157) and a little lower than Malaysia ($209) and Thailand ($183).

How much will Vietjet earn from IPO?

The budget airline VietJet, the country's only private airline, plans to raise up to $194 million in an initial public offering (IPO) to be held this December. The offering will consist of 44.7 million shares, which could be increased by an additional 14.9 million shares if there is sufficient demand.

Vingroup to tap affordable apartment market

Vietnam's property giant Vingroup has announced its plan to build between 200,000 and 300,000 Vincity apartments starting from VND700 million ($31,000) each over the next five years. The first phase of its projects will be launched in the seven major population centers of Hanoi, Ho Chi Minh City, Nha Trang, Hai Phong, Hung Yen, Thanh Hoa, and Ha Tinh.

Hanoi to move 117 industrial facilities out of urban areas

Hanoi plans to move 117 industrial manufacturing facilities out of 12 urban districts over the next three years to 2020. The city has zoned off land outside of the city for educational and medical facilities to relocate./. 

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