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March 15

Released at: 15:23, 15/03/2018 PRESS WATCH

March 15

VET's round-up of news from Vietnamese media for March 15.

FPT Japan opens new office in Shizuoka Prefecture

FPT Japan has officially opened an office in Hamamatsu, Shizuoka Prefecture; the company’s sixth office in the country. The new opening will help FPT Japan expand its opportunities with potential customers as well as provide services and support to local customers as quickly as possible. According to Director of FPT Japan, Mr. Tran Dang Hoa, it aims to transform the image of a Vietnamese company in Japan into a real Japanese company, with $200 million in revenue and 1,000 people working directly in ten offices around the country.

Vinafood 2 holds successful IPO auction

The Southern Food Corporation (Vinafood 2) has recently conducted an initial public offering (IPO) of nearly 115 million shares, or 22.97 per cent of its charter capital. The Ho Chi Minh Stock Exchange (HSX) announced that all shares were purchased. Forty individuals and one organization participated in the auction and all bought successfully at an average price of VND10,101 ($0.44) per share; equivalent to the initial price. The highest price paid was VND12,000 and the lowest VND10,100. Proceeds from the auction totaled nearly VND1.159 trillion ($51 million).

Ireland eyes Vietnam

Vietnam is a new priority market for Ireland, with key areas including agricultural food, education, aviation, renewable energy, and ICT services, Mr. Andrew Doyle, Minister of State for Food, Forestry and Horticulture, said during his official visit to Vietnam from March 14 to 17. Vietnam can become an important market for Irish beef, he added, as a result of population changes, rising incomes, and increasing demand.

Vietnam International Travel Mart set for end-March

The sixth Vietnam International Travel Mart (VITM 2018) will focus on the main theme of “Online Travel” with a view to promoting IT applications in the tourism business. The organizer will work with the Vietnam E-commerce Association to build a fair for online travel enterprises and the Vietnam Tourism Association (VTA) will organize a seminar on e-commerce development in tourism with the participation of domestic and foreign experts on online travel. VITM 2018 will take place at 91 Tran Hung Dao Street from March 29 to April 1.

New Directive to quicken process for construction permits

Prime Minister Nguyen Xuan Phuc has issued Directive No. 08/CT-TTg on measures to cut the time required for granting construction permits and completing relevant procedures. The granting of permits has improved over recent years in terms of procedures and time but shortcomings remain from the absence of laws, the application of a single window system, and close coordination among relevant agencies.

VTVcab to conduct April IPO

The government expects to raise at least VND5.96 trillion ($262 million) from selling a 47.8 per cent stake in VTVcab, a leading Pay TV provider in Vietnam, at an auction next month. VTVcab, or the Vietnam Television Cable Corporation, will sell 42.49 million shares at an initial public offering (IPO) on April 17 at a starting price of VND140,900 ($6.2) apiece. At that price, VTVcab, wholly-owned by Vietnam Television (VTV), is valued at VND12.38 trillion ($545 million). The IPO is part of a string of share sales the government will conduct this year to raise funds for development and to ease budgetary pressure.

Vietnam agri and handicrafts on display at Egyptian fair

Vietnamese agriculture, forestry and fishery and handicraft products are being introduced at the 51st Cairo International Fair, which opened on March 14 in the Egyptian capital and is hosting visitors and businesses from more than 40 countries, especially from the Middle East and North Africa. Many foreign firms have expressed an interest in joining trade fairs in Vietnam this year, such as Vietnam Food 2018, Viet Fish, and Viet Build. The Cairo International Fair runs until March 23.

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