Sapporo Concocts Mass-Market Beer Strategy in Vietnam
Sapporo Holdings will begin marketing a low-cost beer brand in Vietnam later this month, joining other rivals seeking to develop one of the few growing middle-class markets, according to Nikkei.
The new product will target the middle class as it is expected to sell for 13,000 dong to 15,000 dong (58 cents to 67 cents) per 330mL can at volume retailers. This is the equivalent of around 19 cents cheaper than the mainstay Sapporo Premium lager sold in that market.
Vietnam to License 4G Service by End-September: Minister
The Ministry of Information and Communications can license the launch of fourth-generation (4G) wireless at the end of September or in early October, depending on tests of network operators, said Minister Truong Minh Tuan.
Mekong Capital Invests $6.9 Million in Vietnamese Restaurant Chain Wrap & Roll
Mekong Capital’s latest $112-million fund, Mekong Enterprise Fund III, has invested $6.9 million in Vietnamese restaurant chain Wrap & Roll, marking its first investment since its launch in 2015, according to Deal Street Asia.
Founded in 2006, Wrap & Roll operates 11 Vietnamese traditional food restaurants across Hanoi and Ho Chi Minh City. It also has four franchise locations in Singapore. Several more restaurants are expected to be soon opened in both Hanoi and Ho Chi Minh City, the busiest cities in Vietnam.
Vietnam Telecom Revenue in H1 Reaches $4.11 Billion
Vietnam’s telecom revenue in the first half of the year reached 93.5 trillion dong ($4.11 billion), according to information released at the conference reviewing information and communications tasks, held by the Ministry of Information and Communications on July 12.
The report showed Vietnam has around 84 million 2G subscribers and 38 million 3G subscribers. The number of fixed landline subscribers slightly declined while the number of broadband internet subscribers continued increasing.
Israeli Experts Help Quang Nam Develop Advanced Agriculture
A delegation of Israeli experts had a working session with central Quang Nam authorities on July 12, pledging to help local farmers access advanced farming methods.
The event was in preparation for the project to establish a center for advanced agriculture development in the central province, the Vietnam News Agency (VNA) reported.
HCM City Eyes Cooperation with Denmark in Multiple Fields
Ho Chi Minh City hopes to collaborate with Denmark in climate change prevention, green agriculture and food safety, VNA reported, citing Secretary of the municipal Party Committee Dinh La Thang on July 12.
The city’s leader made the statement during his reception for Danish Ambassador to Vietnam Charlotte Laursen, who expressed her delight at the dynamic and robust development of Ho Chi Minh City which is the explanation for the increasing number of Danish investors in the city.
Trade Ministry Asked to Achieve 10% Export Growth
Prime Minister Nguyen Xuan Phuc on Tuesday asked the Ministry of Industry and Trade to achieve a 10% export growth this year, according to VNA.
The PM suggested the sector improving the performance of the National Competition Council, prevent monopoly and price dumping, fine-tuning strategies for spearhead industries, and providing all possible support for the private economy.
In order to renovate state management and engage the private sector in the country’s industrialization and modernization, state-owned enterprises should be made smaller while private companies grow continuously on the back of sound policies, he said.
Bac Ninh’s Fresh FDI Hits $337 Million in H1
The northern province of Bac Ninh has granted investment certificates to 67 new foreign direct investment (FDI) projects with a combined capital of $337 million since the beginning of 2016.
According to figures from the province’s Department of Planning and Investment, South Korea is the top investor with 50 projects worth $246 million, followed by Japan with four projects worth a total of $35 million.
Companies Resuming Operations Shoot up in Number
The number of businesses resuming operations in the first half of 2016 saw a record high in many years, as it jumped 75.2% from a year earlier to 14,902, according to the General Statistics Office.
More than 54,500 companies were set up during the period with a combined registered capital of 427.8 trillion dong ($19.2 billion), representing a year-on-year rise of 20% in number and 51.5% in capital.
Jetstar Pacific Orders Ten New-generation Airbus A320 Jets
Low-budget carrier Jetstar Pacific announced on July 12 during the 2016 Farnborough International Air Show in the United Kingdom that it had sealed a deal to purchase ten A320 CEO Sharklet aircraft from Airbus.
According to Jetstar Pacific, the airline will receive four Airbus A320s by the end of 2016 before welcoming ten A320 CEO Sharklet planes in 2017 as part of its expansion plan between 2016 and 2020.
Foreign Investors Interested in Vietnam’s Tourism
Foreign investors have showed their interest in Vietnam’s tourism as well as the government’s policies to promote the sector during the Hospitality Investment Conference Vietnam 2016 that opened in Ho Chi Minh City on July 12.
According to Chua Wee Phong, Executive Vice President of Circulation at Singapore Press Holdings Limited, Vietnam’s tourism sector is attractive to investors thanks to the country’s numerous natural beauty spots, stable political conditions and the government’s attractive support policies.
Seoul-based LG Innotek Co. Ltd. has said it is considering building a plant in Vietnam to manufacture camera modules, without disclosing further details, Reuters report.
Building a camera module plant is part of the South Korean firm’s plan to respond to demands from smartphone camera module clients like LG Electronics Inc and Apple Inc.
China-sourced power accounted for just 1.38% of electricity produced and bought in Vietnam in the first half of this year, marking a considerable fall from a year earlier, according to data of Electricity of Vietnam (EVN), the sole power distributor in the country.
Vietnam’s Ministry of Industry and Trade is considering a plan to divest state stakes from two major brewers Sabeco
, which have been on the radar of foreign players for a long time.
The ministry will cut its holdings to 50% or even to zero in the two beverage producers, Minister Tran Tuan Anh said at a meeting in Hanoi on Tuesday, adding the two companies have finished drafting their plans on the divestment of state stakes.
Authorities of the central province of Quang Nam have recalled the business registration of Phuoc Son Gold Company Ltd (PSGC) run by Canadian mining firm Besra Inc. due to the firm’s long-delayed tax payment.
In the coming six months, PSGC will have to repay its tax debt or submit a feasible tax payment plan, otherwise the firm will be shut down, VnExpress.vn cited Deputy Director of the provincial Department of Planning and Investment Tran Van An as saying.