Mitsubishi plans to make electric cars in Viet Nam Japan’s Mitsubishi Corporation plans to invest in an electric automobile manufacturing factory in Viet Nam, said Executive Vice President Hiroshi Sakuma during a meeting with Vietnamese Deputy Prime Minister Vuong Dinh Hue in Ha Noi on Wednesday. At the meeting, Sakuma said his firm was evaluating the feasibility of the project and look forward to new regulations on environmental protection taxes to promote investment in the country. Hue said Viet Nam’s National Assembly would soon discuss and pass the Law on Environmental Protection Tax. There would be incentives commensurate with environmentally friendly products. The Mitsubishi Corporation is currently investing in two BOT (Build-Operate-Transfer) projects in Viet Nam, namely the Vung Ang 2 Thermal Power Plant (1,200 MW) and Vinh Tan 3 (1,980 MW) Power Plant. The corporation and Viet Nam’s Ministry of Industry and Trade signed an investment … [Read more...] about BUSINESS NEWS IN BRIEF 31/8
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BUSINESS NEWS IN BRIEF 16/8
Vietnam firms join Tamil Nadu food expo in India Seven Vietnamese enterprises are showcasing their products at Vibrant Tamil Nadu - Global Expo & Summit 2018 in the Indian state of Tamil Nadu, which runs from August 12-15. The food and beverage expo also features nearly 200 Indian firms and representatives from 29 other nations. Several workshops on food, processed food and beverages and measures to boost the sector’s development have been held at the event, along with meetings between participating firms and state authorities. The Vietnamese enterprises discussed the possibility of signing some memoranda of understanding on cooperation in food production and processing and on investment in industrial zones with Indian partners. Bui Trung Thuong, Chief of the Vietnam Trade Office in India, briefed Indian partners on Vietnam-India economic and trade ties, the prospects of the Vietnamese food sector and opportunities for the two countries’ businesses. India ranks 27th … [Read more...] about BUSINESS NEWS IN BRIEF 16/8
Social News 4/4 (Hourly Updated)
New hospital building delayed due to slow compensation for residents A design of the new facility for HCM City Hospital for Traumatology and Orthopaedics. Source http://www.medinet.hochiminhcity.gov.vn Slow compensation for residents affected by the construction project has delayed construction on a new facility for HCM City Hospital for Traumatology and Orthopaedics for six years. The project to build the new facility was approved by the Prime Minister in 2010. In 2011, investors designed to build a 5,000-square metre facility, which was later expanded to more than 7,000 square metres. HCM City People’s Committee has instructed the authorities of Bình Chánh District, where the new facility will be located, and investors to speed up the construction many times, but the project still has not yet been started. In 2016, for instance, the committee required that the project begin in December of that year and would be expected to be completed this year. According to the … [Read more...] about Social News 4/4 (Hourly Updated)
Vietnamese ministries, top officials face punishment in $392mn acquisition deal
Vietnam’s state inspectorate has suggested a police probe be launched into an investment scandal involving a leading mobile carrier, putting different ministries and high-ranking officials at risk of punishment for their involvement in the affair. Mobifone, the company at the center of the high-profile case, has had a deal to acquire a 95 percent stake in local pay TV operator AVG in late 2015 probed by the state inspectorate after authorities ruled the deal was made in violation of a number of protocols. State inspectors concluded their investigation earlier this week and suggested on Wednesday that the Ministry of Public Security launch another probe into the case to ensure relevant individuals are held accountable for their wrongdoings. The call for an investigation made national headlines as three different ministries and several top officials under the management of the Politburo, the most powerful arm of the Vietnamese political system, and the Secretariat of the Communist … [Read more...] about Vietnamese ministries, top officials face punishment in $392mn acquisition deal
English center agrees to refund prepaid tuition after promises of ‘guaranteed scores’ fall short
An English center in Vietnam has agreed to refund prepaid tuition after making headlines this week for luring unsuspecting parents into paying five years in advance for a ‘guaranteed score’ on the IELTS exam. Parents who had previously been denied a refund got what they demanded on Wednesday, one day after a story of underwhelming teaching quality at a Ho Chi Minh City location of the Reliable English School (RES) was reported by Tuoi Tre (Youth) newspaper. RES, which prides itself on offering top-quality IELTS training in Vietnam, promised a guaranteed IELTS band score on the official exam if parents were willing to pay up to five years of tuition fees in advance. Some parents agreed on a prepayment of over VND123 million (US$5,420) in the hope that their child would achieve a desired score on the English-language proficiency test, an essential component of applying for scholarships to study overseas. It was only after having signed contracts with RES that the hopeful … [Read more...] about English center agrees to refund prepaid tuition after promises of ‘guaranteed scores’ fall short