VNR to keep divesting its subsidiaries Vietnam Railway Corporation (VNR) wants to continue the divestment of its subsidiaries, aiming to improve competitiveness and attract investors to enhance efficiency after three years on a downward spiral. A report on the results of the first six months of 2018 from VNR shows that all of its business indicators are on the rise, with revenue amounting to some VND4,000 billion, up 17.8% year-on-year, and with profit reaching VND106 billion. According to the report, the growth in revenue results from a series of renovation solutions for railway services, including replacing new cars, flexibly increasing and decreasing ticket prices depending on the market demand and linking to the tourism sector to attract passengers in groups. As railway transport models are still facing challenges, VNR has been forced to continue rearranging and restructuring its mechanisms and activities to sustain its operations and develop further. Besides this, the corporation … [Read more...] about BUSINESS NEWS IN BRIEF 5/8
Regional business news
ASEAN, partners vow to boost cooperation for regional development News
Thursday, August 06, 2015 - 16:15:47 At the ASEAN-EU meeting. Photo: VNA (VOVworld) - A series of meetings between ASEAN Foreign Ministers and the group’s 10 partners took place in Kuala Lumpur, Malaysia, on Wednesday. Deputy Prime Minister and Foreign Minister Pham Binh Minh has proposed initiatives to deepen ASEAN ties with 10 of its partners including China, the Republic of Korea, India, Russia, the US, the EU, Japan, Canada, Australia and New Zealand. He said priority should be on boosting connectivity; narrowing the development gap; and improving the capacity to cope with emerging threats such as trans-national crime, maritime security and safety, disaster management and epidemic prevention. Minh spoke highly of the partners’ support for ASEAN in its community building and maintenance of ASEAN’s central role in the region. He expressed concern over the ongoing complicated developments in the East Sea that have changed the status quo and seriously threaten … [Read more...] about ASEAN, partners vow to boost cooperation for regional development News
BUSINESS NEWS 2/3
Opportunity arises for orange exports to Indonesia Indonesia will become an important market for Vietnamese orange exporters as Indonesian oranges have fallen out of favour in the domestic market, according to the Vietnam Trade Office in Indonesia. Indonesian oranges are less sweet and their skins are paler compared with foreign oranges, the office said. In addition, imported oranges are sold at the competitive price of 28,000 rupiahs (2.09 USD) per kilogramme while consumers have to pay 24,000 rupiahs (1.79 USD) for one kilogramme of domestic oranges. Vietnamese orange exporters were recommended to research exporting to Indonesia. Vietnam's total fruit and vegetables export value reached 2.4 billion USD in 2016. The value is expected to increase to 3 billion USD this year. Vietnamese fruits and vegetables have been exported to 60 countries and territories worldwide. Indonesia is among major importers of Vietnamese fruits and vegetables. Bao Viet signs co-operation agreement with … [Read more...] about BUSINESS NEWS 2/3
BUSINESS NEWS 1/3
Vinalines' port activity surges According to a VIR source, SP-PSA, a joint-venture port of Vinalines and Singapore-based PSA, saw its volume of bulk goods increase 32.7 per cent on-year to 1.54 million tonnes last year. Container throughput reached 67 twenty-foot equivalent units (TEUs). The port located in the Cai Mep-Thi Vai area of the southern province of Ba Ria-Vung Tau made revenue of $3.07 million in the year, up 33.47 per cent on-year. SSIT, a joint venture between Vinalines and US-based Carrix/SSA, handled 3.8 million tonnes of goods during the period, doubling its 2015 volume. The port, also in Cai Mep-Thi Vai, reported revenue of over $5 million, up 85 per cent on-year. 2016 also saw business improvements at Cai Lan International Container Terminal (CICT), located in the northern province of Quang Ninh. This joint venture also has Carrix/SSA as a partner. CICT accommodated over 3.82 million tonnes goods in bulk last year, up 38.9 per cent, while revenue rose 22.6 per … [Read more...] about BUSINESS NEWS 1/3
Regional business body launched at WEF Mekong summit
Viet Nam News HÀ NỘI - The ASEAN Regional Business Council (RBC) has been launched in Hà Nội with the aim of promoting public-private cooperation on the most pressing issues facing Southeast Asia. The announcement was made at the World Economic Forum on Mekong Region (WEF Mekong) which is taking place this afternoon. RBC is made up of 25 ASEAN companies and 30 global companies, including big names such as Việt Nam's VinaCapital Group, Malaysia's AirAsia, Philippines' SM Investments Corporation and Thailand's PTT Public Company. "Overcoming some of the biggest challenges in ASEAN depends on business and government working together. We want RBC to help present the voice of business to the government so that we can collectively deliver positive impact in the region and ensure that the hundreds of millions of young people across ASEAN have the brightest possible future," Nazir Razak, chairman of Malaysia's CIMB Group Holdings and also chairman of the newly-established council, said. … [Read more...] about Regional business body launched at WEF Mekong summit