16:28 (GMT +7) - Tuesday 11/08/2020


February 20, 2017

Released at: 16:00, 20/02/2017 PRESS WATCH

February 20, 2017

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

Indian group in talks to acquire stake in Nui Phao mine

India’s State-owned iron ore miner NMDC Ltd is in discussions with the Vietnam-based Masan Resources to acquire a stake in the latter’s Nui Phao polymetallic mine in northern Thai Nguyen province, which has rich reserves of tungsten.

Vietcombank plans Cambodian subsidiary

The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) plans to set up a subsidiary in Cambodia after the State Bank of Vietnam (SBV) approved the establishment of its subsidiary in Laos. The bank has accounted for 20 per cent of payments for imports and exports between Vietnam and Laos and has established relations with a dozen other banks in Laos.

Brazil to import Robusta coffee from Vietnam

Brazil’s Ministry of Agriculture’s manager in charge of coffee, Mr. Silvio Farnesi, said that the government has approved the importation of Robusta coffee for the first time in history, including from Vietnam, in order to meet domestic demand for instant coffee production.

Vietnamese company seeks to supply Airbus parts

The Aerospace Engineering Services JSC (AESC), a Vietnamese joint stock company, has proposed joining with the Vietnamese Government in developing the country’s aviation industry, with support from the Airbus Group. AESC’s Business Development Director Nguyen Thao was quoted as saying that the proposal was made after Airbus Group CEO Thomas Enders sent a letter to Prime Minister Nguyen Tan Dung in November offering to support Vietnam in developing a domestic aviation industry.

Malaysia’s Berjaya Land to sell Vietnam operations

Malaysia’s Berjaya Land Bhd (BLand) will be exiting its Vietnam-based Berjaya Long Beach LLC (BLong Beach) business, as it will be selling its entire stake in the latter to Sulyna Hospitality Hotel Restaurant Travel Service Co Ltd for VND333.25 billion ($15 million). In a filing with Bursa Malaysia, BLand announced that Sulyna would be acquiring its entire 70 per cent stake in BLong Beach.

Investors commits to pour $1 billion into Nghe An

Authorities in north-central Nghe An province have granted investment licenses to eight projects and signed 15 memoranda of understanding and cooperation agreements with a combined value of VND22.62 trillion ($983.8 million).

Nearly 1 million tons of rice in stock

According to the Vietnam Food Association, as at the end of January a total of 955,900 tons of rice produced by local businesses is still in stock, while the country’s rice exports are shrinking sharply, with exports in the first month declining more than 20 per cent year-on-year to 320,000 tons.

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