Illustrative image. (Photo: VNA) Hanoi (VNA) – Vietnam’s location with a network of cargo ports, alongside a large domestic market, leaves room for both domestic and foreign logistics firms to expand business and enter logistics merger and acquisition (M&A) deals. Vietnam has integrated deeper into the world economy and the country has become an emerging manufacturing hub and an appealing foreign direct investment destination, according to Country Director for the World Bank in Vietnam Ousmane Dione. E-commerce giants like Alibaba, Amazon and Tencent are gaining footholds in the Vietnamese market. Armstrong and Associates, a US supply chain market researcher, estimated that e-commerce will account for about 7.2 – 7.5 percent of total logistics turnover in Vietnam by 2020. Vietnam is also seen as a “gateway” for international firms to penetrate ASEAN, a market of 640 million people. Hence, logistics will be key to promoting exports and imports in … [Read more...] about Golden time for logistics M&A deals in Vietnam
People fill motorbikes in a petrol station in Tran Quang Dieu Street in HCM City. — VNA Photo Hoang Hai The prices of all kinds of fuel was increased from 3pm on Saturday by the Ministry of Finance and Ministry of Industry and Trade. The price of E5 RON92 petrol rose by VND592 per litre, diesel increased by VND638 per litre and kerosene rose VND521 per litre. After the adjustment, E5’s ceiling price is VND18,932 per litre (US$0.83), while 0.05S and kerosene should not cost more than VND16,354 per litre and VND15,081 per litre, respectively. On the same day, Viet Nam’s biggest petroleum retailer Petrolimex set its retail price of E5 at VND18,930 per litre. Prices of RON 95-IV and RON 95-III remained unchanged at VND20,700 per litre and VND20,500 per litre, respectively. This was the second increase in retail petrol price from the beginning of this year. The ministries of Industry and Trade and Finance review fuel prices every 15 days to adjust the prices in … [Read more...] about Fuel prices rise second time this year
The two defense ministers reviewed the results of the bilateral defense cooperation in the past time and discussed orientations for bilateral defense cooperation in the future. The host affirmed that the Russian Federation always considers Vietnam as an important partner and a traditional close friend in the Asia-Pacific region. Russia is always willing to expand defense cooperation with Vietnam, he emphasized. The guest congratulated the Russians on the successful organization of the recent presidential election. At the working session He showed empathy for difficulties facing the country, but still strongly believed that the Russians, under the leadership of the Russian State and President V. Putin, will soon overcome difficulties and build a developed country with its increasing credibility and status in the world. General Lich also highly appreciated Russia’s organization of the annual Moscow Conference on International Security, saying that the … [Read more...] about Vietnam, Russia draws up road-map for defense cooperation in 2018-20 period
Thai Beverage is longing for Vietnamese authorities' solution to its official complaint over its lack of power at Saigon Beer, Alcohol and Beverage Corporation (Sabeco) in time of the Vietnamese largest brewer’s annual general shareholders’ meeting on April 6 that might see three members of the Thai firm join the board. Thai Beverage demands power at Sabeco proportional to its roughly 50 per cent ownership In a complaint letter sent to the Vietnamese government, Thaibev said that it has not been allowed to join the management board or make any decision at Sabeco, four months after purchasing half of the outstanding shares. Yesterday, in response to Thaibev, Vietnam’s Government Office said that Deputy Prime Minister Vuong Dinh Hue has ordered the Ministry of Industry and Trade (MoIT) to immediately investigate the matter. MoIT is currently the second largest shareholder at Sabeco with 36 per cent of the stakes. “MoIT needs to consider the suggestions … [Read more...] about Will Thaibev’s complaint about Sabeco be resolved in time of AGM?
Investors during a trading session at the HCM Stock Exchange. — Photo www.vietnambiz.vn Vietnamese stocks are expected to rise further with the benchmark VN-Index forecast to surpass its all-time peak of 1,170 in 2007 on rising investor confidence in the market outlook, analysts say. The benchmark VN-Index gained 2.49 per cent to close at 1,102.85 points on Friday, after dropping 1.02 per cent to finish at 1,076.03 points on Thursday. The southern market index gained 4.07 per cent in three sessions last week. The HNX Index on the Ha Noi Stock Exchange rose 1.24 per cent to end at 126.24 points, recovering from its one-day decline of 0.92 per cent to end the session at 124.70 points on Thursday. The two stock indices witnessed a weekly rise of 4.07 per cent and 1.55 per cent, respectively, as money flowed into large-cap stocks, driving up the market. An average of more than 239.82 million shares were traded in each session, worth VND6.8 trillion (US$298.5 million). The UPCOM … [Read more...] about Stocks set to break its all-time record