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Industry

Bac Giang improves master plan on IPs development

February 27, 2021 by bizhub.vn

A view of Bac Giang City. — Photo baodautu.vn

A view of Bac Giang City. — Photo baodautu.vn

The northern province of Bac Giang is improving a master plan on the development of industrial parks (IPs) and complexes, as well as land use planning, according to it its provincial Party Committee.

The province is also refining a master plan on urban areas for the 2021-30 period to attract investment.

It built a project on supporting start-ups in the locality, towards strongly developing the private economy, and issued a list of projects in need of investment in the fields of agriculture and rural development.

The locality considered building mechanisms to support investment in hotel construction projects and high-end services.

In particular, Bac Giang will step up administrative reform, improve the provincial competitiveness index, pool resources to build key socio-economic infrastructure while enhancing the quality of human resources and State management on projects.

The province will actively assist investors and businesses in tackling difficulties and accelerating projects, especially those regarding infrastructure construction and business in IPs.

From 2016 to the end of 2020, the province drew 909 projects worth over US$5.88 billion, marking a 3.5-fold rise from 2011-2015, 616 of them were domestic ones with total registered capital of over VND55.7 trillion, and $3.84 billion were foreign direct investment.

It is now home to 1,786 valid projects, including 1,311 domestic ones worth more than VND92.2 trillion and 475 foreign-invested ones valued at over $6.2 billion. Projects are mostly in industry with 54.3 per cent, trade and services with 40.5 per cent, and agriculture with 5.6 per cent.

Since 2016, Bac Giang has granted licences to over 6,000 enterprises and 705 branches and representative offices, with a combined registered capital of more than VND64.3 trillion. Its gross regional domestic product has expanded by 14 per cent annually.

Cumulatively, there are 10,837 businesses so far in the province, including 466 foreign ones with a registered capital of $3.542 billion and more than 10,300 others with over VND84.9 trillion. — VNS

Filed Under: News Bac Giang, industrial parks, News, refinery development master plan pertamina, mixed use development master plan, palau 2020 national master development plan, lumbini development master plan, punggol development master plan, visakhapatnam urban development authority master plan

Hi-tech investors flock to Da Nang

February 27, 2021 by bizhub.vn

Representatives of Da Nang present investment licences to seven investors at the Da Nang Hi-Tech Park and Industrial Zones. More than US$280 million will be poured into the city’s IZ and Hi-tech Park. — VNS Photo Quoc Dung

Six investment licences and one investment proposal project at Da Nang Hi-Tech Park and Industrial Zones worth more than US$280 million have been granted to domestic and foreign investors.

The Authority of Da Nang’s industrial zones and high-tech park (DHPIZA) granted an investment proposal by Arevo Inc from the US for a 3D printer manufacture project at Da Nang High-Tech Park with a total investment of US$135 million in a ceremony on Tuesday (February 23)

Head of the DHPIZA, Pham Truong Son, said the project plans to produce composite and carbon fibre as well as software solutions and services for the 3D printing industry.

Arevo, based in Silicon Valley, is pioneering composite production through digitalisation and automation, and the world’s first high speed additive manufacturing system capable of creating sizable, continuous carbon fibre composite structures on demand.

Six investors, including three foreign direct investment (FDI) firms, were given licences for their projects at the Hi-Tech Park and other industrial zones.

United States Enterprises from Silicon Valley in the US will invest US$110million in a semiconductor project at the High-Tech Park, and it will commence construction of the first phase in the second quarter of 2021 to become operational in 2023.

It will focus on machining and fabrication specialists for quartz, ceramic and silicon and other materials such as aluminum oxide, mono and poly-crystalline silicon and sapphire.

The Da Nang Sunshine Aerospace plant of the Universal Alloy Corporation (UAC) from the US is prepared for operation soon at the Da Nang Hi-Tech Park. The plant was invested by UAC with total US$170 million. — VNS Photo Cong Thanh

Two Japanese investors – Fujikin International Incorporated and EPE Packing Viet Nam – also received investment licences with total investment of more than US$35 million on Tuesday.

The city presented investment licences to three other domestic investors at Hoa Khanh Industrial Zone and Expanded Hoa Khanh IZ worth VND73.4 billion ($3.2 million).

Vice chairman of the city’s people’s committee, Ho Ky Minh said Da Nang had been calling for investors from Silicon Valley and the US in healthcare, high-tech industries, artificial intelligence (AI), education, real estate and automation at the Hi-tech Park and Information Technology Park.

The Government officially approved the Da Nang supportive industries zone covering 58.5ha at the Hi-tech Park serving hi-tech domestic and foreign investors in the near future.

According to DHPIZA, the Hi-Tech Park alone has drawn 24 projects, of which 12 were FDI projects, worth total $545 million and VND6.3 trillion ($274 million), respectively.

Six IZs and the hi-tech park have drawn 365 domestic projects worth VND26.56 trillion ($1.15 billion) and 131 FDI projects worth $1.74 billion.

The Hi-Tech Park has been designed as a ‘green’ and hi-tech hub for investors, while Information Technology Park is planned as Viet Nam’s ‘Silicon Valley’. — VNS

Filed Under: Uncategorized Da Nang, Da Nang Hi-Tech Park and Industrial Zones, Tech, Da Nang Hi-Tech Park and..., truong cao dang nghe da nang, nguyen kim da nang, vnpt da nang internet, danang riverside hotel da nang vietnam, viettel da nang, da nang bao, da nang du lich, www da nang, about da nang, about da nang vietnam, da nang hue, resort da nang 5 sao

Pawn shop chains raise big bucks to expand

February 27, 2021 by e.vnexpress.net

Leading jeweler Phu Nhuan Jewelry (PNJ) recently announced that it would acquire a 30 percent stake in pawn shop chain Golden Friend Jsc.

The Ho Chi Minh City-based pawn shop chain was founded in 2017 with a charter capital of VND1 billion ($43,400), which was raised after six months to VND10 billion.

The company introduces itself as a strategic partner of PNJ. It has 21 pawn shops, all located inside PNJ stores.

Earlier this month, HCMC-based pawn shop chain T99 raised VND20 billion from a famous singer, after having received a similar amount from another celebrity last year.

Another chain, F88, one of the earliest pawn shops chains in the country, raised VND10 billion from a celebrity in 2019 after receiving funds from foreign investors like Mekong Enterprise Fund III and Granite Oak. The chain has 180 shops in 25 localities.

Pawn shop chains have become more popular in recent years, as they attract customers by offering more professional services than traditional pawn shops.

Some of them say customers can get a loan money in 15-30 minutes via a quick review process for collateral assets, which can include smartphones, jewelry, motorbikes and cars.

Most chains have been posting impressive growth figures. F88 last year saw outstanding loans rise 230 percent from 2019 while revenues rose 220 percent. The actual figures were not disclosed.

The chain, which has nearly 2,000 employees, saw its equity rise 160 percent last year. It raised VND400 billion through bonds last year.

Another chain, Vietmoney, saw its revenue rise 270 percent year-on-year last year. It has recently sold a 30 percent stake to two foreign investment funds.

T99, which only entered the market earlier this year, targets having 500 shops nationwide in the next three years and to list on the stock market.

Observers say that the pawn shop industry has high growth prospects thanks to a high demand for quick loans.

Around 48 percent of the population has incomes of under $300 per month, and these are potential customers for consumer loans, according to financial data service provider FiinGroup.

The CEO of F88, Phung Anh Tuan, said it is estimated that 70 percent of Vietnamese citizens still lack access to professional financial services, and this means there is great growth potential for the pawn shop industry.

Le Dat Chi, deputy head of the School of Finance under the University of Economics Ho Chi Minh City, told local media that as there are many Vietnamese who are not eligible to receive loans from banks, pawn shop chains will serve their credit demand.

However, more regulations are needed to manage this type of service so they will not be taken undue advantage of by loan sharks, which could have bad consequences for the financial system, he added.

Filed Under: Uncategorized Vietnam, pawn shop, credit, lending, consumer loans, F88, T99, Vietmoney, Pawn shop chains raise big bucks to expand - VnExpress International, pawn shop guns, pawn shop guns for sale, The Pawn Shop Chronicles, 8 mile pawn shop, fast cash pawn shop, gold and silver pawn shop, Silver Pawn Shop, logan village pawn shop, b back pawn shop wharncliffe, able pawn shop, n cash pawn shop

World News in Brief: February 26

February 26, 2021 by en.nhandan.org.vn

* China and India should firmly follow the right path of mutual trust and cooperation between neighboring major countries, and not go astray with suspicion and distrust nor fall back on a road of negative retrogression, Chinese State Councilor and Foreign Minister Wang Yi said Thursday. Wang made the remarks in a telephone conversation with Indian External Affairs Minister Subrahmanyam Jaishankar, stressing that the two sides should maintain the strategic consensuses reached by their leaders.

* As COVID-19 transmission rates seemingly decline across the European Region, the World Health Organization (WHO) Regional Director for Europe Hans Kluge expressed health concerns over “long-COVID” or “post-COVID” symptoms at a virtual press conference on Thursday.

* Russian President Vladimir Putin discussed the situation in Armenia in a telephone conversation with Armenian Prime Minister Nikol Pashinyan on Thursday, the Kremlin said.

* The Pentagon confirmed on Thursday that the US military had conducted airstrikes against infrastructure utilized by Iranian-backed militant groups in eastern Syria. The Pentagon called the operation a “proportionate military response” carried out after consultations with coalition partners.

* China approved two more vaccines for public use, raising the number of domestically produced vaccines that can be used in China to four.

* Japan on Friday is preparing to lift the state of emergency over COVID-19 for five prefectures where the situation has improved, although the Greater Tokyo metropolitan area will likely be kept under the emergency period for the time being, according to government sources.

* The Department of Health (DOH) of the Philippines reported on Friday 2,651 new COVID-19 cases, the highest daily increase since Oct. 17 last year, bringing the total number of confirmed cases in the Southeast Asian country to 571,327.

* Leaders of the European Union (EU) called for an accelerated production and delivery of COVID-19 vaccines late on Thursday as the bloc is struggling with supply shortfalls.

* Brazil surpassed 250,000 COVID-19 deaths, while France and Germany said COVID-19 is here to stay after European Union leaders discussed ways to fight new variants of the virus, step up inoculations and save Europe’s tourism industry from another ruinous summer.

* Europe’s medicines regulator issued new guidance for drug makers that modify their vaccines to protect against variants of the virus to speed up the approval process.

* France will bring in new restrictions for the Moselle area around its common border with Germany, and impose measures including weekend lockdowns in Paris and 19 other regions from the start of March if signs of the coronavirus accelerating persist.

* Australia’s Victoria state will start easing restrictions from Friday night.

* Republic of Korea launched its inoculation campaign, with shots to be administered in some 200 nursing homes.

* US President Joe Biden’s administration plans to launch a campaign to educate Americans about vaccines in anticipation of a period later this year where supply may outstrip demand because of vaccine hesitancy.

* Brazil will purchase 20 million doses of the vaccine made by India’s Bharat Biotech for delivery between March and May.

* Canada’s vaccination campaign is ramping up after earlier supply disruptions and the number of inoculations last week hit a five-week high.

* Pfizer and BioNTech said they are testing a third dose of their vaccine to better understand the immune response against new variants of the virus.

* Mexico’s economy grew quicker than first estimated during the fourth quarter as the country recovered from its sharpest economic contraction in nearly nine decades.

* Australia’s greenhouse gas emissions have fallen to the lowest level since 1995 as coronavirus restrictions limited travel. Data released by the Department of Industry, Science, Energy and Resources on Friday revealed that emissions fell by 4.4 percent in the 12 months to September 2020.

* Security personnel of the Indian Coast Guard (ICG) rescued more than 80 Rohingya refugees who had been onboard a boat drifting in the waters of Andaman Sea for 10 days, and retrieved eight dead bodies.

* Republic of Korea’s quarantine authorities said Friday that it will extend the country’s five-tier social-distancing rules at the third-highest level in the Seoul metropolitan area for two weeks.

* US President Joe Biden said on Thursday that he would work to make US-Saudi relations “as strong and transparent as possible.” Biden made the remarks in the first phone conversation with Saudi Arabia’s King Salman bin Abdulaziz Al Saud since Biden’s inauguration.

* Germany’s Ministry of Transport and Digital Infrastructure said on Wednesday that more than EUR5 billion (US$6.1 billion) would be invested in the modernization of over 3,000 railway stations across the country.

* Colombian President Ivan Duque announced a decision Thursday night to extend a declared national health emergency due to the COVID-19 pandemic by three more months, as the vaccination drive entered its eighth day.

* AstraZeneca boss Pascal Soriot said he hoped to meet the EU’s expectations on the number of vaccines the company can deliver to the bloc in the second quarter.

* The Czech prime minister said people’s movement needed to be “radically” limited over at least the next three weeks.

* Portugal extended until at least mid-March a nationwide lockdown.

* The African Union is backing calls for drugmakers to waive some intellectual property rights on COVID-19 medicines and vaccines.

* Israel has frozen its programme to send vaccines abroad to buy international goodwill, Defence Minister Benny Gantz said, after the initiative came under legal scrutiny.

* Bahrain has approved Johnson & Johnson’s one-dose vaccine for emergency use.

Filed Under: Uncategorized vietnam news, vietnam business, vietnam travel, vietnam culture, vietnam sports, vietnam politics, hanoi, saigon, ho chi minh city, apec, da nang, hue, hoi an, ..., world news israel, world news syria, world news latest breaking news, World news in brief, News Briefing, news briefing app, news briefing today, news briefing app android, world affairs brief, News Briefs, News Brief, world news latest news

Retired deputy minister becomes bank president

February 26, 2021 by vietnamnet.vn

VietBank’s president has unexpectedly resigned and his position has been transferred to a former government official.

Retired deputy minister becomes bank president

VietBank’s chair of the board of directors Bui Xuan Khu

VietBank has announced that Duong Ngoc Hoa resigned from the post of chair of the board of directors on February 23 and the office has been taken by Bui Xuan Khu, who was Deputy Minister of Industry Trade.

Khu became a member of the bank’s board of directors in 2011 after he retired. Later, he acted as deputy chair of the board of directors until he was appointed president of the bank.

Khu is the next former high-ranking official to become a bank president. Le Thi Bang Tam, former Deputy Minister of Finance, is now president of HDBank and president of Vinamilk.

Tam joined Vinamilk in 2013 as an independent member of the board of directors. She has been president of the nation’s leading dairy producer since 2015 and president of HDBank since 2010. She is also a senior advisor to some foreign financial institutions.

A lot of former government officials became businessmen after their retirement. Tran Xuan Gia, former Minister of Planning and Investment Tran Xuan Gia, became the president of ACB in 2008-2012. Gia, together with a lot of former senior managers of the bank, including Ly Xuan Hai, Le Vu Ky and Trinh Kim Quang, were investigated in a case related to Nguyen Duc Kien, or ‘Mogul Kien’.

Kieu Huu Dung, former director of the Banks and Non-bank Credit Institutions Department, served as president of Sacombank in 2014-2017. He later became president of ACB Securities and president of Sacombank Securities.

The other officials included Pham Viet Muon, who was Vice Chairman of the Government Office, Cao Sy Kiem, former Governor of the State Bank of Vietnam (SBV) and Truong Van Phuoc, former head of SBV’s Foreign Exchange Management Department.

Former Deputy Minister Bui Xuan Khu, who joined VietBank in 2011, also has a lot of business experience as he was general director of the Vietnam Textile and Garment Corporation (Vinatex), the largest garment producer in Vietnam, general director of Viet Tien Garment and deputy president of the Global Petroleum Investment JSC.

In mid-2019, VietBank put VBB shares into transactions on the bourse.

VietBank was established in December 2006 as a rural bank with charter capital of VND200 billion. Its founding shareholders have relations with Hoa Lam Group, ACB and Dieu Hien Company. The bank now has charter capital of VND4.19 trillion after five capital increases.

ACB has divested from VietBank, while Dieu Hien is no longer mentioned in documents and information about the bank. The shareholders from Hoa Lam Group still maintain their stake with Duong Ngoc Hoa as the representative. Duong Nhat Nguyen is now deputy chair of the bank.

V. Ha

Filed Under: Uncategorized bui xuan khu, bad debt, VietBank, Covid-19, vietnam economy, Vietnam business news, business news, vietnamnet bridge, english news, Vietnam news, vietnamnet..., feddev deputy minister, bc health deputy minister, french prime minister v president, kebby maphatsoe deputy minister, mestecc deputy minister, jay ramotar deputy minister, ousted deputy minister, 6 deputy minister drive, deputy ministers who, coleen volk deputy minister of energy, holomisa deputy minister, axed deputy ministers

Registration for AI Accelerator Challenge 2021 opens

February 26, 2021 by en.qdnd.vn

Under the auspices of the Vietnamese Ministry of Science & Technology and support from the Aus4Innovation Program, AAC 2021 is a brand-new national competition calling for all innovators to share their bright ideas for rolling out artificial intelligence-driven innovation into new areas of industry, fields of science, and the day-to-day lives.

AI startup has undoubtedly been gaining a lot of attention in recent years in Vietnam, but they often lack the support or visibility they need to grow. AAC 2021 provides an exciting opportunity for innovators to receive seed funding and incubation training to help them maximise their chances of success.

The programme is designed to open to any individual and team who want to contribute to the economic and social development of Vietnam by using AI technology.

During the first phase, applications will be screened online based on the answers on the application form and selected for the next round.

The 15 selected starts-up will enter an intensive one-month bootcamp programme in order to evaluate their personalities, mindsets, and collaboration with the programme.

These selected startups will be invited to make a 15-30-minute presentation in front of an expert panel.

The five selected startups will enter three-month intensive bootcamp programme with access to mentoring and up to 200 million VND (8,723 USD) in no equity funding.

Andrew Barnes, Australian Chargé d’ Affaires to Vietnam, highlighted achievements Vietnam has recorded in the COVID-19 combat, saying Australia is realising its strong commitments to supporting the country’s efforts in overcoming the pandemic and reviving the national economy for a long-term through sponsoring initiatives promoting AI-driven innovations.

Thach Le Anh, Founder of the VSV Foundation, said the VSV Foundation forms part of the programme, aiming to help AI startups get access to consultants in order to develop their business and call for investors.

Source: VNA

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