Vietnam Bans 39 Indian Drug Firms
Aurobindo Pharma, Cadila, Mcleods Pharmaceuticals are among the 39 Indian drug companies that have been blacklisted by Vietnam for quality standard violations, India Times reported.
The Vietnamese drug regulator has also banned companies in Bangladesh and South Korea. The regulator has listed the names of blacklisted companies on its website without specifying in detail the reason behind the ban.
Japanese Retailers Keen to Enter Vietnamese Market
Japanese retailers have devised a detailed plan, with active support from their government, to tap the huge potential of the Vietnamese market, said Takimoto Koji, chief representative of the Japan External Trade Organization (JETRO) in Vietnam.
Numerous Japanese brands have entered Vietnam. Japanese enterprises have also bought several local names, such as FamilyMart, MiniCop, 7-Eleven and Citimart.
First Ever Vietnam Hardware and Hand Tools Expo to Take Place in HCM City
The first ever Vietnam Hardware and Hand Tools Expo 2016 will be held at the HCM City from November 30 to December 3 this year in HCM City, with a focus on both manufacturing and introducing these products in daily life.
The exhibition aims to open more opportunities for Vietnamese people and give them access to advanced and handy products, said Nguyen Khac Luan, general director of Vinaxad, the organizer of the event.
Vietnam Medi Pharm Expo to Open Next Week
As many as 150 enterprises in the pharmaceutical and medical sectors from 18 countries and territories such as Canada, the U.S., the UK, Germany, Italy, Japan and India will display their products at the upcoming medical and pharmaceutical exhibition in Hanoi, the Vietnam News Agency (VNA) reported.
The 23rd Medi and Pharm Expo will take place from December 1-3 with 250 booths displaying latest achievements, advanced technology and medical equipment.
Industrial Production to Rise 8% in 2017: Ministry
The Ministry of Industry and Trade has mapped out next year’s development plan for the industrial sector and forecast an 8% rise in industrial production against this year, VNA reported.
In its report on the direction and solutions for the industrial sector, the ministry has also forecast a 6-7% increase in exports in 2017. The proportion of trade deficit against total trade turnover will be maintained at less than 5%.
The market value of shares traded on Vietnam’s Unlisted Public Company Market (UPCoM) quadrupled from the start of this year to 263.6 trillion dong ($11.7 billion) at the close on Nov. 23, compared to $6.6 billion of the Hanoi Stock Exchange, thanks to the listings of large caps such as ACV
, Habeco, Vissan and Masan Resources.
Thailand’s top beverage producer Thai Beverage (ThaiBev) is pondering bidding for shares of brewer Sabeco
and dairy producer Vinamilk
as the Vietnamese government seeks to reduce its holdings in the two firms, said Chief Executive Thapana Sirivadhanabhakdi.
The executive’s statement comes at a time when the two firms are accelerating its share offerings to both foreign and domestic investors.
Japan’s Shinsei Bank has signed a deal with Hanoi-based Military Bank (MBBank) to acquire a 49% stake in MCredit Finance Company (MCredit), marking its entrance into Vietnam’s unsecured loan market.
Foreign investors have poured funds into a number of Vietnamese financial technology (fintech) companies, aiming to capitalize on the country’s fast growing tech savvy consumers.
South Korea’s UTC Investment Co., wholly owned by Daesang Group Chairman Lim Chang-wook, acquired a 62.5% stake in VNPT Electronic Payment JSC (VNPT Epay) from VMG Media Group for around $33.8 million.
Standard Chartered Private Equity (SCPE) has invested $40 million to hold a significant minority stake in N Kid Corporation (N Kid), an integrated lifestyle platform for kids and teenagers in Vietnam.
BDA Partners, a cross-border investment bank involving Asia, acted as exclusive financial advisor to the deal, the firm said in a statement on its website.
Vietnam’s National Assembly, the country’s supreme legislative body, on Tuesday voted to drop plans to build two nuclear power plants in the southern province of Ninh Thuan due to budget strains.
The parliament in late 2009 granted in-principle approval on building two plants with a combined capacity of 4,000 megawatts at a cost of a more than $10 billion, meeting 3-4% of the country’s total electricity demand.
Singaporean real estate developer CapitaLand will launch a $500 million fund by next year to invest in commercial property in Vietnam, mainly in Ho Chi Minh City and Hanoi, according to the Strait Times.
This will be CapitaLand’s second investment fund in Vietnam. Its first fund worth $200 million, backed by sovereign wealth fund GIC and Mitsubishi Estate Asia, was launched in Vietnam in 2010 and is fully invested in three residential projects in HCM City and Hanoi.