The Hanoitimes - The defense ties have been intensified after South Korean President Moon Jae-in took office in 2017. Vietnam – South Korea relations built on high level of mutual trust: Amb. Vietnam intensifies ties with US, India, UK amid tensions in South China Sea Japan vessels dock at Danang port Vietnam and South Korea have been strengthening defense ties as part of Seoul’s “New Southern Policy”, in which Vietnam is considered a key partner in the ASEAN and East Asia. South Korean Minister of Defense Song Young-moo (L) and Vietnamese counterpart Ngo Xuan Lich in Hanoi in June 2018. Photo: VietNamNet The military relations were tightened since the two nations in April 2018 signed a joint vision statement on defense cooperation with vision to 2030, according to The Diplomat. In June 2018, South Korean Minister of Defense Song Young-moo visited Vietnam at the invitation of Vietnamese counterpart Ngo Xuan Lich to discuss … [Read more...] about South Korea reinforces defense ties with Vietnam to boost New Southern Policy
Developments to the uks port industry
BUSINESS NEWS IN BRIEF 10/10
VinaCapital officially ends investment in poultry firm Ba Huan Ba Huan JSC, the country's leading pasteurized eggs and poultry meat producer, has decreased its charter capital from VND280 billion (US$12 million) to VND222 billion (US$9.53 million), effectively ending the involvement of VinaCapital, one of the two largest asset management firms in Vietnam, with the company. This results in an increase in the stake holding of domestic shareholders from 66.2% to 83.6%, of which Ba Huan's Director Pham Thi Huan owns 64%. In Feburary, VinaCapital`s flagship fund Vietnam Opportunity Fund (VOF) invested US$32.5 million to acquire a significant minority stake in Ba Huan. However, in early July, Ba Huan sought Prime Minister Nguyen Xuan Phuc's intervention in terminating its partnership with VinaCapital. The firm said there were differences between the English and Vietnamese versions of the agreement and the terms were not what the two parties had agreed initially. Among … [Read more...] about BUSINESS NEWS IN BRIEF 10/10
Da Nang takes actions to attract more FDI investments
A corner of Da Nang city (Photo: VNA) Da Nang (VNA) – As foreign direct investment (FDI) capital has been a major driver for development in the central coastal city of Da Nang, the city is working to attract more FDI. FDI bolster local economy As of September 15, the city housed 660 FDI projects, securing total capital of more than 2.87 billion USD. FDI has a crucial role in boosting economic growth, and contributes considerably to the city’s export revenue. FDI firms exported 557 million USD worth of products in 2015 and gained 765 million USD in 2017, which made up 52.2 percent of the city’s total exports. By September this year, export revenue earned by FDI enterprises is estimated at 880 million USD, or 53.3 percent of the total shipment value. Some 44,000 local labourers are employed at FDI companies. Last year, the firms contributed more than 171.33 million USD to the city’s budget, up 112.87 percent from 2016. During January-August, FDI businesses … [Read more...] about Da Nang takes actions to attract more FDI investments
BUSINESS NEWS IN BRIEF 31/8
Mitsubishi plans to make electric cars in Viet Nam Japan’s Mitsubishi Corporation plans to invest in an electric automobile manufacturing factory in Viet Nam, said Executive Vice President Hiroshi Sakuma during a meeting with Vietnamese Deputy Prime Minister Vuong Dinh Hue in Ha Noi on Wednesday. At the meeting, Sakuma said his firm was evaluating the feasibility of the project and look forward to new regulations on environmental protection taxes to promote investment in the country. Hue said Viet Nam’s National Assembly would soon discuss and pass the Law on Environmental Protection Tax. There would be incentives commensurate with environmentally friendly products. The Mitsubishi Corporation is currently investing in two BOT (Build-Operate-Transfer) projects in Viet Nam, namely the Vung Ang 2 Thermal Power Plant (1,200 MW) and Vinh Tan 3 (1,980 MW) Power Plant. The corporation and Viet Nam’s Ministry of Industry and Trade signed an investment … [Read more...] about BUSINESS NEWS IN BRIEF 31/8
Storm Capital Partners plans to construct floating LNG power plant in Vietnam
The Hanoitimes - A floating LNG-fueled power plant is equipped with modern technologies with numerous advantages, for which the city`s leaders expressed supports for the project. UK-based Storm Capital Partners, a privately owned hedge fund sponsor, is seeking support from local authority to invest in a floating LNG-fueled power plant in northern Hai Phong city, stated the city's website. Illustrative photo. With total capacity of 450 - 600 MW, the project is expected to have investment capital of US$500 - 600 million. According to the fund's representative, the power plant will ensure full compliance with environmental and safety standards, which will be operated at low cost with low selling price of electricity. Hai Phong city's Mayor Nguyen Van Tung welcomed Storm Capital Partners's initiative, which is in line with the city's development strategy. "Hai Phong is home to the biggest deepwater sea port in northern Vietnam and a major … [Read more...] about Storm Capital Partners plans to construct floating LNG power plant in Vietnam