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February 26

Released at: 14:07, 26/02/2018 PRESS WATCH

February 26

VET's round-up of news from Vietnamese media for February 26.

Quang Tri attracting high-tech and green agriculture projects

The central province of Quang Tri has attracted eight projects in high technology and green agriculture worth over VND160 billion ($7.02 million), according to the provincial Department of Agriculture and Rural Development. An automatic hydroponic project with an investment of VND2 billion ($87,927) has been developed in Hai Lang town, Hai Lang district, covering 2,000 sq m.

Social housing project at Phu Tho IP being built

Construction of a VND480 billion ($21.1 million) social housing project at the Phu Ha Industrial Park in northern Phu Tho province has been kicked off recently to improve the quality of the IP and attract more investors. The project covers an area of 4.3 ha in Ha Loc commune of Phu Tho town and is expected to provide 630 apartments ranging from 26 to 70 sq m for 2,500 workers.

Change at top at Kien Long bank

The Kien Long Commercial Joint Stock Bank’s Board of Directors has appointed Ms. Tran Tuan Anh, Permanent Deputy General Director, to the position of Acting General Director and legal representative of the bank, from February 24. She was born in 1976 and holds a Bachelor of Banking and Finance and a Master’s in Law from the Ho Chi Minh City University of Law.

New projects and additional capital for Dong Nai

The southern province of Dong Nai has licensed eight foreign direct investment (FDI) projects worth $31.7 million and one domestic project worth VND200 billion ($8.8 million). According to the management board of industrial parks, nine existing FDI projects were also permitted to increase their capital by $115.4 million. The newly-licensed projects include footwear projects invested by August Sport Co., Ltd. with total investment of $15 million and DY Boiler Vina Co., Ltd. with total investment of $7 million. HENKEL Adhesive Technologies Co., Ltd. and Inzi Vina Co., Ltd registered to increase their capital by over $19 million and $18 million, respectively.

New decree for food safety law

The government has issued Decree No. 15/2018/ND-CP replacing Decree No. 38/2012/ND-CP guiding the implementation of the Law on Food Safety, a move strongly welcomed by the business community. Decree 15 is considered a “revolution” in food safety management, according to the Chairman of the Vietnam Chamber of Commerce and Industry, Mr. Vu Tien Loc.

SCIC to sell 30% of Binh Minh Plastic holding

The State Capital Investment Corporation (SCIC) plans to sell nearly 30 per cent of its stake in the Binh Minh Plastic JSC, or 24.1 million shares, on March 9 on the Ho Chi Minh Stock Exchange. The 24.1 million shares will be sold via competitive bidding and each investor must register to buy at least 20,000. The starting price will be announced on February 28. The bidding price must be above both the starting level and the daily declining band of Binh Minh Plastic Company’s share price on March 9.

Australia to cut and then remove tariffs under ASEAN agreement

Australia will cut 90 per cent of import tariff lines in 2018 and 100 per cent by 2020 under the ASEAN-Australia-New Zealand Free Trade Agreement (AANZFTA) roadmap, according to the Ministry of Industry and Trade (MoIT). Mr. Pham Tuan Anh, Deputy Head of the Ministry of Finance’s Department of International Cooperation, said this was a good opportunity for Vietnamese businesses to promote the export of goods to Australia.

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