INDUSTRY

Positive results Vietnam has more than 300 industrial zones and export processing zones. Although it has many contributions to economic development, industrial production activities have posed challenges to the environment and human health. To overcome shortcomings, in 2014, the prime minister approved an eco-industrial park initiative for sustainable industrial zones in Vietnam with total non-refundable capital of over US$4.5 million supported by the Global Environment Facility (GEF), the Swiss State Secretariat for Economic Affairs (SECO) and the United Nations Industrial Development Organization (UNIDO). The project aims to convert three industrial zones in Ninh Binh, Da Nang and Can Tho into eco-industrial parks. Some 72 businesses participating in the project were provided with technology innovation support and training courses on cleaner production. After three years of implementation, some 72 businesses have saved more than VND70 billion by reducing the amount of waste … [Read more...] about Pilot models of eco-industrial parks yield promising results

The Hanoitimes - The airline’s first routes are Quy Nhon – Hanoi, Ho Chi Minh City – Hanoi, and Ho Chi Minh – Quy Nhon. Bamboo Airways, with the backing of conglomerate FLC Group, would launch its first flight on December 29 after several delays, according to FLC Group Chairman Trinh Van Quyet.   Illustrative photo. The airline’s first routes are Quy Nhon – Hanoi, Ho Chi Minh City – Hanoi, and Ho Chi Minh – Quy Nhon, Quyet said at a press conference on November 15. Dang Tat Thang, CEO of Bamboo Airways, informed that the first aircraft would be delivered by December 5.  Vietnam’s Ministry of Transport (MoT) on November 12 issued the aviation license to Viet Bamboo Airlines, a subsidiary of FLC Group which operates Bamboo Airways, The decision came after Prime Minister Nguyen Xuan Phuc agreed on the proposal of the MoT to issue the aviation license for the airline.  According to the MoT, the airline is … [Read more...] about Bamboo Airways to launch long-awaited first flight on December 29

The Hanoitimes - The airline is qualified and meets the requirements in terms of capital, availability of aircraft and business strategy. Prime Minister Nguyen Xuan Phuc has agreed on the proposal of the Ministry of Transport (MoT) to issue a long-awaited aviation license for Bamboo Airlines JSC, a subsidiary of FLC Group that operates Bamboo Airways, said FLC group in a statement.    Illustrative photo. Mai Tien Dung, head of the Government Office, said the PM has instructed the MoT to consider licensing the airliner. According to the MoT, the airline is qualified and meets requirements in terms of capital, availability of aircraft and business strategy.  Bamboo Airways plans to operate domestic flights connecting FLC's resorts in Vietnam, in addition to international flights from major cities like Hanoi and Ho Chi Minh City to countries in the region.  With this strategy, the airlines is expected enhance competitiveness in Vietnam's aviation market … [Read more...] about PM agree on issuing aviation license for Bamboo Airways

The Hanoitimes - Higher oil price in the world market in October was one of the key reasons for PVN to beat its financial targets in the period. State-run energy giant Vietnam National Oil and Gas Group (PVN) has said its revenue reached VND499.5 trillion (US$21.48 billion) in the first ten months of 2018, 21.1% higher than the ten-month target and up 23.6% year-on-year.   Illustrative photo. PVN also contributed VND90.9 trillion (US$3.91 billion) to the state budget, 23.2% higher than the ten-month plan and fulfilling the year's plan.  For the January – October period, PVN's oil production stood at 11.71 million tons, 5.5% higher than the ten-month plan and equivalent to 88.5% of the year’s plan. Oil  production in October was 1.15 million tons, exceeding 7.2% of the month's plan; gas exploitation also reached 0.78 billion cubic meters, putting the ten-month accumulative gas output at 8.39 billion cubic meters, 4.1% above the ten-month plan and … [Read more...] about PetroVietnam posts revenue up 23.6% in Jan-Oct

The Hanoitimes - VNG saw its selling expense up by 72% year on year to VND853 billion (US$36.4 million) and administrative spending increased by 27% on-year during the period. Vietnam`s leading technology firm VNG posted pre-tax profit in the first nine months of 2018 at nearly VND500 billion (US$21.34 million), down 52% year-on-year, according to the firm’s quarterly consolidated financial statement.   Illustrative photo. During the January – September period, there were no significant changes in VNG’s revenue and gross profit, reaching VND3.1 trillion (US$132.3 million) and VND1.8 trillion (US$76.81 million), respectively.  Nevertheless, the IT firm saw its selling and administrative expenses increase by 72% and 27% year-on-year during the period at VND853 billion (US$36.4 million) and VND382 billion (US$16.3 million), respectively.  Moreover, losses incurred by its affiliates amounted to VND152 billion (US$6.48 million), doubling the … [Read more...] about Vietnam leading IT firm VNG posts pre-tax profit down 52% in Jan-Sep