[Round-up] Jan-Oct Car Sales up 30%, EU Beef Imports to Vietnam Recover

Tuan Minh

20:06 10/11/2016

BizLIVE - January-October car sales in Vietnam rose 30.6% from the same period last year to 242,681 units. Beef imports to Vietnam from the EU should recover given mad cow disease under control and the potential market in Vietnam.

[Round-up] Jan-Oct Car Sales up 30%, EU Beef Imports to Vietnam Recover

January-October industry sales rose 30.6% from the same period last year to 242,681 units.

Kiwi Innovators to Explore Tech Opportunities in Vietnam
New Zealand tech entrepreneurs will experience Vietnam’s burgeoning tech industry on an Asia New Zealand Foundation visit from November 14 to 19 as part of the ASEAN Young Business Leaders Initiative, according to www.scoop.co.nz.
They will attend business meetings, learn about the tech ecosystem in Hanoi and Ho Chi Minh City, meet New Zealand Ambassador Haike Manning and attend leading tech event Echelon Vietnam.
Vietnam Car Sales Rise 30.6% in Jan-Oct
Car sales in Vietnam increased 26% year-on-year in October to 28,283 units, according to a report released by the Vietnam Automobile Manufacturers’ Association (VAMA)
January-October industry sales rose 30.6% from the same period last year to 242,681 units, VAMA data showed. Vietnamese manufacturer Truong Hai Auto Corp retained its leading position in the sales tally in October, followed by Toyota Motor.
PM Approves Equitization of Power Generators
Prime Minister Nguyen Xuan Phuc has approved the equitization of electricity-generating companies belonging to state-owned Electricity of Vietnam (EVN), Vietnam National Oil and Gas Group (PetroVietnam) and Vietnam National Coal and Mineral Industries Group (Vinacomin).
The government will continue to retain control over electricity transmission and the construction and operation of large hydropower dams, according to a recent report on the government website.
Germany to Help Vietnam Deal with Wastewater
The Germany-Vietnam Water Forum held in HCM City on November 9 discussed ways the two countries could cooperate in water, wastewater and urban resilience projects, the Vietnam News Agency (VNA) reported.
“I do believe that Germany’s experience in the water sector will help Vietnamese authorities improve their water management capacities,” said Phan Thi My Linh, deputy minister of construction.
ACV Wins Listing Approval
Airports Corporation of Vietnam (ACV), the operator of Vietnam's civilian airports, has won approval to list all of its shares, worth around $975 million at par value, on the country's Unlisted Public Company Market (UPCoM), the Hanoi Stock Exchange (HNX) said on Thursday.
The state still owns a 95.4% stake in the Ho Chi Minh City-based firm, which has a registered capital of 21.77 trillion dong ($975 million), the exchange said in a statement.
Irish Tech Firm Signs Major Deal with Ericsson in Vietnam
During Michael D. Higgins' state visit to Vietnam, Irish firm Anam Technologies has signed a new deal with Ericsson to provide messaging support to the Swedish company in the region for a further three years.
Anam has been present in the Vietnamese market since 2009 when in partnership with Ericsson Vietnam the company deployed its SMS management center in a local operator network.
Lai Chau Hydropower Plant’s Last Turbine Becomes Operational
The 400 MW capacity turbine No.3 of the Lai Chau hydropower plant in the northern mountainous province of Son La officially joined the national grid on November 9.
The third largest of its kind, located in the upper reaches of the Da River, the Lai Chau hydropower plant has total investment of 35.7 trillion dong ($1.6 billion), according to VNA.
EU Beef Imports to Vietnam Recover
Beef imports to Vietnam from the European Union should recover as mad cow disease gets under control in Europe and the potential market in Vietnam lures imports with high demand and zero import tariff.
The Ministry of Agriculture and Rural Development’s National Agro, Forestry, Fisheries Quality Assurance Department (Nafiqad) said Vietnam has granted import license for hundreds of factories in the EU to ship beef from the EU to the Southeast Asian country.
Vietnam’s National Assembly has approved the public investment plan for the 2016-2020 period under which up to 2,000 trillion dong ($90 billion) will be allocated to investment projects using state capital.
Of the sum, $50.16 billion will come from the central state budget and the rest from localities.
The Vietnamese government has decided to stop a project to build two nuclear power plants with Russian and Japanese assistance in the southern province of Ninh Thuan due to their infeasibility and the country’s financial hardship, according to officials.
Legislators are expected to discuss the government’s proposal to put off the projects on November 10 and give final approval on November 22.
Kangwon Land, among South Korea’s top casino and resort developers, is interested in carrying out high-end resorts, gaming and entertainment facilities in Vietnam’s central coastal city of Da Nang.
The firm’s Chairman Hahm Seung Heui made the statement at a recent meeting with Da Nang’s authorities, according to the city’s portal website danang.gov.vn.

TUAN MINH