[Round-up] Freight Train Route Links Vietnam with China, VBF2017 to Seek Ways to Boost Private Sector

Tuan Minh

22:33 14/06/2017

BizLIVE - A cargo train heading for Vietnam left Kunming, the capital of the Chinese southwestern province of Yunnan, on June 13. The mid-term Vietnam Business Forum 2017 will look into measures with a view to clearing barriers to the private economic sector.

[Round-up] Freight Train Route Links Vietnam with China, VBF2017 to Seek Ways to Boost Private Sector

The Yunnan-Vietnam Railway runs 854 kilometers from Yunnan province's Kumming to Vietnam's Hai Phong. Photo: Zhang Hao/photoint.net

World Bank Approves $53 Million to Improve Urban Infrastructure in Vietnam
The World Bank on June 13 approved $53 million to support infrastructure development in Lao Cai and Phu Ly, two emerging middle cities in northern Vietnam.
The additional financing will bolster the efforts of the Medium Cities Development Project (MCDP), which has so far benefited over 210,000 people - exceeding initial targets. Infrastructure services that will be improved include water treatment and wastewater collection; flooding prevention in low lying areas; and transport services in areas with poor or non-existent roads or access to transport networks.
Vietnam Seeks to Boost Relations with Russia: Minister
Hanoi seeks to strengthen and expand its relations of friendship and strategic partnership with Moscow, Vietnamese Trade and Industry Minister Tran Tuan Anh said while addressing a Russia Day reception on June 13.
The Vietnamese trade and industry minister pointed out that at the current stage, trade, economic, military, scientific and cultural cooperation between Hanoi and Moscow was growing, which was in the interest of both countries.
Hanoi Seeks EU Help to Become Smart City
Hanoi wishes to learn from experience of Italy’s Milan city in urban construction and development for its program to become a smart city, the Vietnam News Agency (VNA) reported, citing Chairman of the municipal People’s Committee Nguyen Duc Chung at a working session with an EU delegation on June 13.
Hanoi will cooperate with Milan in urban development, focusing on high-tech applications and smart city building, under the World City network, according to Ambassador Bruno Angelet, head of the EU Delegation to Vietnam.
Vietnam to be among World’s Largest Rice Producers: FAO
Vietnam is expected to be the world’s fifth largest rice producer in 2017, according to the Crop Prospects and Food Situation report released by the UN’s Food and Agriculture Organization (FAO).
The FAO forecast that the biggest rice producer this year will be China with 142.3 million tons, followed by India with 110.4 million tons, Indonesia and Bangladesh.
Sterling Drop Will Barely Affect Vietnamese Exports to UK: Officials
The weakening of the UK sterling will not have much impact on Vietnamese exports since it is expected to be short-lived, a trade official was quoted by VNA as saying in response to public concerns.
Tran Thanh Hai, deputy director of the ministry’s Import-Export Department, said the UK was a large Vietnamese trading partner in Europe, but exports to the country only account for 3% of the country’s export revenue.
PV Power Prioritizes Selling Shares to Strategic Investors
PetroVietnam Power Corporation (PV Power), a wholly-owned subsidiary of the state-owned energy giant PetroVietnam, said it will sell a 49% stake later this year with priority given to strategic investors.
The corporation is giving a push to the equitization progress, and the initial public offering (IPO) is expected to be carried out in October, 2017, Chairman of PV Power Ho Cong Ky said at a press conference to announce the company’s business performance on June 14.
VBF2017 to Seek Ways to Develop Private Sector
The mid-term Vietnam Business Forum (VBF) 2017, the most expected event of the domestic business community, is set to take place in Hanoi on June 16, driving participation from representatives from the government, ministries, agencies, experts and policymakers.
A score of measures will be raised with a view to clearing barriers to the private economic sector, such as administrative procedures and limited access to State incentives regarding capital, land, infrastructure, among others.
Solar Energy Provider ET Solar Looks to Invest in Can Tho
Multinational ET Solar held a working session with authorities of the Mekong Delta city of Can Tho on June 14 to seek business opportunities in solar energy supply, according to VNA.
Speaking at the event, ET Solar Chief Representative for the Southeast Asia Liming Wang, said ET Solar wants to build a system of solar power plants which are capable of generating nearly 200MW of electricity in Vietnam, especially localities with great potential such as Binh Thuan and Can Tho.
EU Forest Pact to Boost Vietnam Timber Firms
Once the EU-Vietnam Voluntary Partnership Agreement on Forest Law Enforcement, Governance and Trade (VPA-FLEGT) comes into force, there will be opportunities for Vietnam to export more wooden products to Europe and other markets, delegates told a seminar in HCM City on June 13.
According to delegates, the forest pact would increase the competitiveness of Vietnamese timber products compared to those from countries that do not have much control over the forestry sector.
Freight Train Route Links Vietnam with Southwest China
A cargo train heading for Vietnam left Kunming, the capital of the Chinese southwestern province of Yunnan, on June 13, an opening of a new route between the two countries, VNA reported.
The train travels 854 km in four to six days to the northern port city of Hai Phong, carrying 32 containers of mainly ore and raw materials to serve the chemical industry, according to China’s Jinlai Shunfa international logistics company.
Japan Company Seeks Opportunity in Infrastructure in Can Tho
A delegation of the Eight-Japan Engineering Consultants Inc. (EJECT) had a working session with authorities of the Mekong Delta city of Can Tho on June 13 to look at possibilities to join local infrastructure projects.
Vice Chairwoman of Can Tho People’s Committee Vo Thi Hong Anh said the city needs consultation from Japan in implementing several urgent infrastructure projects funded by the World Bank.
Insurance companies in Vietnam invested 208.98 trillion dong ($9.2 billion) back into the economy in the first five months of this year, up 21.3% from a year earlier, according to Vietnam Financial Times.
Zara, a brand name owned by Spain-headquartered fashion giant Inditex, will open its first store in the center of Hanoi in coming October, the Vietnam Economic Times reported, citing a source familiar with the matter.
Petronas Dagangan Bhd (PetDag) has sold Thang Long LPG Company Ltd, a liquefied petroleum gas bottler and jetty owner, to Hanoi-based Noi Thuong Bac Joint Stock Co. after a deal with Totalgaz Vietnam failed in January, according to The Star.
In a filing with Bursa Malaysia, PetDag said the divestment was in line with its portfolio rationalization, but did not disclose the value of the sale.

TUAN MINH

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