Vietnam, Japan look to foster trade cooperation A workshop was held in Tokyo on October 22 to discuss measures to promote economic and trade cooperation between Vietnam and Japan. Held by the Department of Trade Promotion (DTP) under the Ministry of Industry and Trade and the Japan-ASEAN centre, the event attracted representatives from more than 100 Japanese and 25 Vietnamese enterprises operating in handicrafts, mechanics, plastic, home furniture and gifts. Speaking at the workshop, Doan Thi Thu Thuy, Deputy General Director of the DTP said Vietnamese goods are present in most markets around the world, and exports are shifting from raw materials to products with higher value such as electronics and smart phones. Notably, Vietnam's agriculture has witnessed a long period of stable growth with an average expansion of 4.4 percent in the last decade, with the export value of Vietnamese fruits surpassing those of rice and crude oil. Assessing Vietnam’s advantages, … [Read more...] about BUSINESS NEWS IN BRIEF 26/10
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Masan takes full ownership of tungsten processing facility Masan Resources Corporation (UPCoM: MSR), one of the world’s largest integrated industrial tungsten mineral and chemical producers, announced that Nui Phao Mining Company Ltd. (NPMC), a wholly-owned subsidiary of the company, has acquired H.C.Starck GmBH’s (HCS) 49 per cent stake in Nui Phao-H.C.Starck Tungsten Chemicals Manufacturing LLC (NHTCM) for the total cash consideration of $29.1 million, and now owns 100 per cent of this company. NHTCM, previously a joint venture between NPMC and HCS, was established in 2013 and is a leading producer and global supplier of tungsten chemicals (ammonium paratungstate [APT], blue tungsten oxide [BTO], and yellow tungsten oxide [YTO]). NHTCM processes tungsten concentrate (TC), the main product of NPMC, into higher value-added tungsten products. In consideration of NHTCM’s contribution to the development of Vietnam’s high-tech industries, the Vietnamese Ministry of … [Read more...] about BUSINESS NEWS IN BRIEF 17/8
VNR to keep divesting its subsidiaries Vietnam Railway Corporation (VNR) wants to continue the divestment of its subsidiaries, aiming to improve competitiveness and attract investors to enhance efficiency after three years on a downward spiral. A report on the results of the first six months of 2018 from VNR shows that all of its business indicators are on the rise, with revenue amounting to some VND4,000 billion, up 17.8% year-on-year, and with profit reaching VND106 billion. According to the report, the growth in revenue results from a series of renovation solutions for railway services, including replacing new cars, flexibly increasing and decreasing ticket prices depending on the market demand and linking to the tourism sector to attract passengers in groups. As railway transport models are still facing challenges, VNR has been forced to continue rearranging and restructuring its mechanisms and activities to sustain its operations and develop further. Besides this, the corporation … [Read more...] about BUSINESS NEWS IN BRIEF 5/8
The consecutive decrease in profit makes it questionable whether domestic private Hoa Sen Group can develop the $10.6-billion Ca Na steel project in the central province of Ninh Thuan. Hoa Sen Group may not be able to develop the $10.6 billion Ca Na steel complex? According to CafeBiz, steel maker Hoa Sen Group has published a bleak financial statement for the first quarter of 2018 (the second quarter of the 2017-2018 financial year ending in September this year). Accordingly, the firm reported VND7.66 trillion ($336.5 million) in revenue, up 23 per cent on-year. However, its net profit was only VND115 billion ($5.05 million), one-fifth of last year’s figure. The firm’s after-tax profit was only VND87 billion ($3.82 million). The major reason for this plunge is due to the increase of expenditures, including interest payments for debts. Notably, the corporation’s short-term debt increased by VND3.6 trillion ($158.1 million) to VND16.24 trillion ($713.5 … [Read more...] about Bad performance spells doom for $10.6 billion Hoa Sen Group steel complex?
Twenty-seven more communes and wards this year join family medical practice A health staff member takes blood for testing at An Hòa ward health station in Cần Thơ City’s Ninh Kiều District. Source http://soytecantho.vn The Department of Health in the Mekong Delta city of Cần Thơ this year plans to expand a model of family medical practice clinics to 27 more communes and wards. Family medical practice clinics aim to provide comprehensive and continuous health care services to each local individual and family in order to reduce overcrowding of patients at city or central-level hospitals. These clinics are located at health stations in communes and wards. Each commune or ward has one health station. Cần Thơ aims to equip more than 80 per cent of its 85 health stations with these clinics by 2020. According to Dr Bùi Thị Lệ Phi, the department’s head, the city now has 18 commune-based health stations with family … [Read more...] about Social News 5/4 (Hourly Updated)