TH Group imports 1,800 more dairy cows from US Vietnamese dairy firm TH True Milk (TH Group) on October 14 received nearly 1,800 dairy cows of 3 or 5-month pregnancy which were inseminated through embryo transfer from US’ high-yield dairy cow Holstein Friesian. This is the largest herd of cows that TH has imported from the US so far. The group’s husbandry experts carefully examined standards related to origin, genealogy, genetic potential, appearance, physical strength, potential for milk production and ability to fight diseases in the tropical region. All individuals in the herd weigh 400-500 kg and are expected to produce 12,000 litres per head each 305 days on average. Milk production from these cows will begin in January 2019. According to Tal Cohen, General Director of the TH Milk Food Joint Stock Company - the management unit of the TH dairy cow farm, TH Group imported 1,300 dairy cows from the US in April 2017 for the first time. It also imported … [Read more...] about BUSINESS NEWS IN BRIEF 20/10
High yield trading platforms
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
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
Activities to promote Dak Nong’s specialty avocados
Dak Nong avocados on display at the press conference on July 12 (Photo: VNA) Dak Nong (VNA) – Dak Nong will organise a programme on July 18-23 to promote avocados, a specialty fruit of the Central Highlands province. Vice Chairwoman of the provincial People’s Committee Ton Thi Ngoc Hanh said on July 12 that this will be the first of its kind, themed “Dak Nong: Ripe Avocado Season”, featuring major events for the opening and closing ceremonies, a workshop on sustainable avocado development, a trade fair connecting the supply and demand of the fruit and other agricultural products, an avocado competition, as well as tours to farms. The programme aims to popularise Dak Nong avocados among consumers, improve the local fruit’s value, and affirm the position of Vietnamese avocados – especially those of Dak Nong – on the world market. It will serve as a platform for businesses to seek partnerships with avocado purchasing and processing companies, … [Read more...] about Activities to promote Dak Nong’s specialty avocados
Foreign bankers reconsidering local partnerships
More than a decade after Vietnam tried to increase the efficiency of local banks without disrupting the human capital and knowledge embedded in existing structures, under a policy of “strategic partnerships”, divestitures of minority stakes in important local banks by several foreign investors last year put an end to the hotly-debated policy. Despite the shifts in mission among these foreign lenders, with their long-term commitments reportedly remaining unchanged, consecutive divestments by foreign banks in a single year raised many questions, especially when the easing of restrictions on foreign bank ownership and the positive track taken towards resolving bad debts added to the dynamism in Vietnam’s banking sector over recent years. Illustrative photo Different tastes Vietnam has seen a growing number of foreign banks withdraw from its under-banked economy, the latest indication that all might not be as well as bankers often claim. Last July, the … [Read more...] about Foreign bankers reconsidering local partnerships