The signing ceremony between FLC Group and Boeing for purchasing aircraft from the US FLC Group aims to operate more than 10 resorts throughout the country by 2020 According to the Civil Aviation Authority of Vietnam, in the first half of 2018, Vietnamese airlines carried 52.8 million passengers on 223,000 flights, up 14 and 10.6 per cent on-year, respectively. During this period, the number of foreign tourists arriving in Vietnam by air reached 6.4 million, up 22 per cent on-year and accounting for 80 per cent of total foreign tourist arrivals. The aviation market has immense potential for growth, but currently, Vietnam has only three major airlines. According to experts, it is essential to have more airlines entering the market to create a more competitive environment and offer better services to passengers. FLC Group has seen this potential and taken well prepared steps to establish Bamboo Airways. Strong investment strategy to achieve market penetration Following more … [Read more...] about Bamboo Airways to use FLC Group’s competitive edge to find success
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Viet Nam News HÀ NỘI — Hòa Phát Group has posted revenue and post-tax profit gains of VNĐ27.6 trillion (US$1.18 billion) and VNĐ4.4 trillion ($189.4 million) in the first half of the year, increasing 30 per cent and 27 per cent from the same period last year, respectively. The results mean the group has already reached 55 per cent of its annual profit target. This year, the group has targeted revenue of VNĐ55 trillion and after-tax profit of VNĐ8.05 trillion. In the second quarter alone, its revenue reached VNĐ14.4 trillion while post-tax profit hit VNĐ2.2 trillion. These represented increases of 34 per cent and 43 per cent from the corresponding period last year. Hòa Phát’s construction steel output in the first six months of the year was 1.1 million tonnes, a slight increase from the same period last year. This has been a positive result given the group had to close one blast furnace for maintenance and … [Read more...] about Hòa Phát Group’s profit surged
The Chinese policy to limit South Korean businesses may be the main reason behind Korea-based CJ Group’s heavy expansion in Vietnam. Entering a co-operation with local restaurant chain Golden Gate is the latest step in this expansion. CJ Group has repeatedly expanded its business in Vietnam over the past few year. Photo: brandsvietnam.vn On June 20 CJ Group via CJ Fressway officially announced the plan to co-operate with domestic restaurant chain Golden Gate Trade & Service JSC to expand the scale of its food business in Vietnam. Expanding the business in Vietnam Over the past few years, CJ Group has many times raised its ownership in local food firms. For instance, the Korean firms raised its ownership rate in Cau Tre from 51.6 to 71.4 per cent and its subsidiary CJ Cheiljedand Corporation last year bought 64.9 per cent of Minh Dat Food's capital. In 2016, the Korean firm also bought 4.18 per cent of Vissan JSC’s stocks. Last year, its food distribution … [Read more...] about Chinese sanctions may be pushing CJ Group’s expansion in Vietnam
Russian Direct Investment Fund (RDIF) will pour $633 million into the milk projects of TH Group in Russia. TH Group completed the farm in Moscow. Source: thmilk.vn The two sides signed the co-operation agreement at the St. Petersburg International Economic Forum (SPIEF) today (May 24). Established in 2011, RDIF is Russia’s sovereign wealth fund with a reserved capital of $10 billion under management. RDIF also attracted over $40 billion of foreign capital into the Russian economy through long-term strategic partnerships. Theleader.vn quoted a Russian media agency as saying that this venture will develop TH Group’s two projects in Kaluga and Moscow. In Russia, TH Group has deployed its first dairy project in Moscow and purchased 1,100 milk cows in last January. According to the group, there will be 45,000 cows on an area of 50,000ha with the total investment of $500 million. Milk output is expected at 234,000 tonnes per annum. Additionally, another dairy project in … [Read more...] about RDIF makes giant investment into TH Group’s Russian milk projects
Despite its eagerness to develop a $350-million textile and garment dyeing project in the northern province of Vinh Phuc, Hong Kong-backed TAL Group may fail to get the investment certificate due to the provincial authorities’ concerns about environmental pollution. Environmental concerns may override Vinh Phuc province's thirst for FDI On April 21, the Vinh Phuc People’s Committee organised a conference to collect opinions from representatives of departments, relevant authorities, and experts about the TAL Group’s textile and garment dyeing project, according to local media. The conference was organised after the investor insisted on developing the project despite the provincial leaders’ refusal due the risk of environmental pollution. Notably, in October 2016, after taking its second garment factory into operation, TAL expressed interest in developing a textile and garment dyeing project in Ba Thien 2 Industrial Park with the aim of … [Read more...] about TAL Group’s $350 million project refused over environmental risks?