Vietnam Health Ministry Starts Inspection of Coca-Cola
A team of inspectors from the Vietnamese Ministry of Health has begun a thorough inspection in Cola-Cola Vietnam on June 21, which company executives claim to be a scheduled, rather than impromptu, checkup, local media reported.
The inspectors will conduct a checkup at the company’s partners, including distributors, raw material suppliers and packaging contractors.
Mitsubishi Raises Holding in Vina Star Motors to 82%
Subsidiaries of Mitsubishi have increased their combined stake in Vina Star Motors (VSM), which manufactures and distributes products of Japan’s Mitsubishi Motors in Vietnam, to 82% from the previous 50%, and changed the name to Mitsubishi Motors Vietnam (MMV).
This move is part of Mitsubishi Motors’ strategy to launch new products and expand its network in Vietnam.
Vietnam Association Sounds Alarm Bell on Environmental Impact of Chinese Paper Mill
The Vietnam Association of Seafood Exporters and Producers (VASEP) has suggested the government check the waste treatment system of a $1.2 billion paper mill of China-based Hong Kong Lee&Man Paper Group’s, located near the Hau River in the southern province of Hau Giang, before it comes into operation in August.
Truong Dinh Hoe, general secretary of VASEP, noted that once the paper mill comes into operation, it will discharge large volumes of NaOH used for paper production into the river if the factory lacks a proper waste treatment system. It will cause environmental pollution as well as impact seafood breeding in the country’s key seafood production area.
Belgium’s Garment Technologies Introduced to Vietnamese Businesses
New technologies used by Belgian enterprises in the garment and apparel sector were introduced to their Vietnamese counterparts at a forum in Hanoi
on June 21, the Vietnam News Agency (VNA) reported.
The event, jointly held by the Vietnam Textile and Apparel Association (VITAS), the Flanders Investment and Trade and the Belgian Textile Machinery Association, attracted the participation of 15 leading groups and companies in garment technology solutions from Belgium.
HCM City Sees 7.47% GDP Growth in H1
Ho Chi Minh City’s gross regional domestic production (GRDP) increased 7.47% year-on-year to 476.9 trillion dong ($21.46 billion) in the first six months of this year, according to a report on June 20.
Between January and June, as many as 16,322 firms were set up in the city with total registered capital of 114.6 trillion dong ($5.1 billion), while 23,718 existing firms added $3.3 billion to their capital.
Growing Modern Retailing Puts Greater Pressure on Domestic Firms
Modern retail channels will account for 40% of the total retail sales by 2020, compared to only 25% at present, pushing domestic retailers into a fierce battle with foreign firms who are eyeing a bigger share of the fast-growing Vietnamese market, according to VNA.
The country’s open-door economic policy is creating plenty of opportunities for modern retailing, with the entry of many foreign retailers during recent years, said President of the Vietnam Retailers Association Dinh Thi My Loan.
Group, the largest fund manager in Vietnam overseeing some $1.5 billion in assets, expected more companies will lift their foreign ownership limits (FOLs) and the government will quicken the equitization process of state-owned enterprises (SOEs) to capitalize on foreigners’ interest.
Daewoo Engineering & Construction Co. (Daewoo E&C) has announced that it will proceed with the official contracts for 182 households of the first high-end villa project in the Star Lake New City from July 4, Business Korea reported.
Daewoo E&C has become the first Korean private firm which proposed the project to the Vietnamese government, and it is the first export of Korean-style developer projects.
Up to 613,800 laborers in Vietnam found a job between January and May, meeting 38.3% of the year’s plan and declining 3.8% from a year earlier.
Among them, 43,800 workers were sent abroad, down 1.2% year-on-year, according to official data.
Hong Kong-listed Success Dragon Holdings Ltd has dropped a plan to purchase a 45% interest in a five-star hotel and land for further development in Vietnam’s central city of Da Nang
for $14.13 million, the firm said in a filling to the Hong Kong Stock Exchange.
The gaming services company, formerly known as C Y Foundation, in March announced that it was to acquire the entire issued share capital owned by Vabis Building Consultants and Engineering Ltd in a company that operates One Opera Danang Hotel.