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December 6

Released at: 14:01, 06/12/2017 PRESS WATCH

December 6

VET's round-up of news from Vietnamese media for December 6.

Mobile World opens third Cambodian outlet

The Mobile World Investment JSC (MWG) has just opened its third BigPhone store in Cambodia. Earlier, in November, it opened its second store and in June opened its first BigPhone store in the country. All three BigPhone stores are located in the capital Phnom Penh.

Power sector leads in 2015-2017 revenue

According to the VNR500 2017 assessment report from Vietnam Report JSC, the power industry led the way in revenue in 2015-2017. Sectors such as electricity, minerals and petroleum, finance, food and beverages, and telecommunications and informatics remained the Top 5 industries with the highest revenue. Vingroup is the largest private enterprise and Samsung Electronics Vietnam earned more revenue that any organization in the State-owned sector.

Sojitz Planet and Rang Dong Plastics form JV

Japan’s Sojitz Planet Corporation formed a strategic partnership with Rang Dong Plastics JSC on December 6 to set up a new venture called Rang Dong Long An. With total investment of $32 million, Rang Dong Long An is an 80:20 venture between Rang Dong Plastics and Sojitz Planet. The project will house three factories on an 8.7-ha area in the Mekong Delta province of Long An. The factories will apply the latest technology from Germany, Italy, Japan, Taiwan, and South Korea. Rang Dong Long An is slated to be put into operation in March 2018. With new investment and cooperation, Rang Dong Plastics aims to become a leading plastics supplier in Vietnam and one of the Top 10 in the Asia-Pacific by 2020.

Opening of Van Don Airport delayed by a quarter

Van Don International Airport in northern Quang Ninh province will be put into operation in the second quarter of next year, not the first quarter, as earlier planned. This is the first airport in Vietnam developed by a private firm in the build-operate-transfer (BOT) mode. The cost of the project is VND7.5 trillion ($330.19 million). The Civil Aviation Authority of Vietnam has proposed the Ministry of Transport establish a representative office of the Northern Airports Authority at the airport. The office will be responsible for managing aviation services and ensuring legal compliance at the airport. In April, the Sun Group set up the Van Don Investment and Development JSC to operate the airport.

2018 garment & textile exports targeted at $34 billion

Vietnam’s garment and textile industry has set a target of earning $34 billion in export turnover in 2018, a conference held in Hanoi to review the industry’s operations in 2017 heard. Export turnover year-to-date stands at $25.91 billion, up 8.7 per cent year-on-year, while the export of fiber is estimated at $3.51 billion, up 19.93 per cent.

Draft on way for smart urban area criteria

According to Deputy Minister of Information and Communications Phan Tam, the ministry will complete the first draft of the criteria for smart urban area assessments in Vietnam in the second quarter of 2018. The ministry has developed draft content guiding the principles and orientations for smart urban construction in Vietnam and is collecting opinions from localities, ministries, and branches. The content of the guidelines is based on smart urban construction recommendations from international standards organizations such as ITU, ISO, and BSI (UK), in combination with research and development.

PM directs changes at banks

Prime Minister Nguyen Xuan Phuc has recently signed a decision on changing the leadership at VDB and BIDV banks. Mr. Pham Quang Tung, VDB’s Chairman of the Board of Directors, will resign and be Chairman of BIDV. The decision is based on proposals from the Ministry of Finance in a report on November 8 and the Ministry of Internal Affairs on November 24.

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