After acquisition of Mobicast and Reddi, can Masan become the “Reliance Jio” of Vietnam? On September 21, The Sherpa, a subsidiary of Masan Group Corporation, announced an investment of $13 million to acquire a 70-per-cent stake in mobile virtual network operator (MVNO) Mobicast and officially expand to the telecommunications sector. This is Masan's first step into the digital services sector. Mobicast's services target tech-savvy customers with great demand for data usage and digital lifestyle. As a result, the startup can help Masan to complete its offline-to-online offerings of necessities and financial services. An MVNO offers a fast and cost-efficient system to build transmission and reception network infrastructure. Besides this, an MVNO is considered a catalyst for competition in the mobile telecommunications market. MVNO players will develop value-added services on mobile devices, helping to improve quality and diversify experiences. It is estimated that necessities … [Read more...] about After acquisition of Mobicast and Reddi, can Masan become the “Reliance Jio” of Vietnam?
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Vietnam remains steadfast on pursuing bilateral economic relations with the US towards harmonization and sustainability, according to the Ministry of Foreign Affairs. Any possible US probe into plywood imports from Vietnam should be fair, according to Le Thi Thu Hang, spokesperson of the Vietnamese Ministry of Foreign Affairs (MoFA). US probe into Vietnam plywood imports should be fair. “Such an investigation should take into account international and World Trade Organization (WTO) practices, as well as the sound economic – trade relations between Vietnam and the US,” Hang said at a press conference on June 11, adding it needs to ensure rightful benefits of law-compliant enterprises and customers from the two countries. Hang noted bilateral trade turnover in 2019 hit nearly US$76 billion, up 26.2% year-on-year. Vietnam remains steadfast on enhancing bilateral trade – economic – investment relations with the US towards building harmonious, sustainable and … [Read more...] about US probe into Vietnam plywood imports should be fair: Spokesperson
National flag carrier Vietnam Airlines said it has completed all necessary documents to be approved by the United States Transportation Security Administration (TSA) to conduct regular direct flights to the US. Vietnam Airlines completes procedures for regular direct flights to US On this basis, the Federal Aviation Administration (FAA) will grant permission to the national carrier. The TSA represents one of the toughest obstacles due to its stringent requirements. As a result, it will send experts to examine Vietnamese airports before proceeding any further with the matter. If granted approval, Vietnam Airlines will become the first local airline to conduct regular direct flights to the US. Vietnam Airlines stated that the permit is different from that given earlier for International Special Charter flights between the nation and the US. As a result, regular flights will be carried out according to the airline’s flight schedule without limiting types … [Read more...] about Vietnam Airlines completes procedures for direct flights to US
Vietsovpetro's Bach Ho oil field. (Photo: VNA) Hanoi (VNA) – The Vietnam – Russia oil and gas joint venture Vietsovpetro is likely to complete all of its yearly targets in revenue, profit and State budget payment right in September thanks to comprehensive and effective measures to promote production. A representative from the firm said that the fourth wave of COVID-19 that broke out in early May has posed adverse impacts on the health of all workers of Vietsovpetro as well as the operations of the firm as well as the entire oil and gas sector. In order to maintain safe operations amid the pandemic, Vietsovpetro leaders have given drastic and flexible directions on the implementation of solutions to ensure the health of workers and maintain production at the same time. Particularly, the firm has strengthened measures to cut cost and speed up digital transformation to maximise its performance in all conditions and circumstances. By giving proper assessments and … [Read more...] about Vietsovpetro to complete all goals for 2021 in September
UOB headquarters in HCM City. — Photo courtesy of the bank The United Overseas Bank (UOB) has increased its charter capital in Viet Nam from VND3 trillion (US$128.8 million) to VND5 trillion ($214.6 million), following approval from the State Bank of Viet Nam earlier this month. “This fresh injection of capital demonstrates UOB’s commitment to deepening our presence in Viet Nam, and contributing to the country’s ongoing development," said Wee Ee Cheong, UOB Deputy Chairman and CEO. "UOB Vietnam has grown from a representative office in 1993 to a wholly-owned subsidiary bank in 2018. Over the last three years, UOB Vietnam has grown steadily and achieved a 53 per cent compounded annual growth rate in assets. This increased capital will allow us to continue supporting both new and existing customers in Viet Nam, through progressive solutions and the connectivity we can offer across UOB Group’s regional network,” he said. UOB Vietnam is focused on meeting the financial needs of … [Read more...] about UOB raises charter capital in Viet Nam
Vietnamese Ambassador to the UK Nguyen Hoang Long (second from right) and British guests at the ceremony. (Photo: VNA) London (VNA) – The Vietnamese Embassy in the UK held a ceremony on September 20 to celebrate the 76th anniversary of the National Day, gathering more than 500 guests from the host country's parliament, ministries, sectors, localities, international organisations in the UK and the Vietnamese community in the country. Speaker of the House of Commons of the UK Lindsay Hoyle ; Minister of State at the Foreign, Commonwealth & Development Amanda Milling, Secretary of State for Defence Ben Wallace; and Communist Party of Britain (CPB) General Secretary Robert Griffiths were among guests. Addressing the event, Vietnamese Ambassador to the UK Nguyen Hoang Long underlined that the event also aims to celebrate the friendship between Vietnam and partners and all countries in the world. Highlighting the achievements that Vietnam has made after 35 years of “Doi … [Read more...] about National Day celebration held in London