Vietnam’s Top Brewer Gears up Share-Listing Plan
Saigon Beer, Alcohol and Beverage Corp or Sabeco
, the largest brewer in Vietnam, plans to hire Maybank Kim Eng Securities as consultant for its plan to list shares on the Hochiminh Stock Exchange (HOSE), home to many large-cap companies.
The government has requested Sabeco to go on bourse prior to the divestment of the state holding in the brewer.
HAGL Agriseco Plans to Sell Rubber Plantations to Chinese Firms
Hochiminh Stock Exchange-listed HAGL Agriseco JSC (HNG), a subsidiary of Hoang Anh Gia Lai Group (HAG), plans to sell 20,000 hectares of rubber plantations to Chinese partners, part of its deleveraging plan, its Chairman Doan Nguyen Duc said Thursday.
The company’s operations have been hard hit by a plunge in global rubber prices, leading to its intention to sell rubber plantations, Duc explained.
Kyoei Steel to Boost Vietnamese Output by 50%
Japan's Kyoei Steel aims to produce 1.2 million tons of construction steel materials in Vietnam in 2020, up roughly 50% from last year, amid prospects of growing demand, the Nikkei Asia Review reported.
Kyoei has spent about $170 million on a production site in the southern province of Ba Ria-Vung Tau, installing a furnace and other equipment. Once completed by March 2018, the facilities will bring in scrap steel, among other cargo. Kyoei will then have capacity to produce and ship 900,000 tons of steel a year in Vietnam's south, up from around 550,000 tons last year.
Singapore, Vietnam Plan to Expand Joint Industrial Park Project
Plans are underway to expand the Vietnam-Singapore Industrial Park (VSIP) as it celebrated its 20th anniversary on Wednesday, according to Channel News Asia.
There are currently five operating VSIPs, while two are under development. Both sides announced they would be exploring an expansion of the Binh Duong and Bac Ninh industrial parks by as much as 20% of their current land areas, pending feasibility studies.
Vietnam’s Retail Sales to Top $179 Billion by 2020
Vietnam’s retail turnover is expected to reach $179 billion by 2020, said Ha Tuan Anh, chairman of the Association of Vietnam Retailers.
The sector has grown strongly, with annual revenues increasing from $40 billion eight years ago to around $100 billion now, Anh added.
Vietnam, Japan Boost Cooperation in ICT
Vietnam hopes to expand cooperation with Japan in three priority areas in information and communications technology (ICT) following a Vietnam-Japan policy dialogue on ICT in Hanoi on September 15, the Vietnam News Agency (VNA) reported.
The priority areas are identified as policies and a strategy for the development of 4G/5G networks after the digitalization of television in Vietnam, policies on protecting key information systems and the development of infrastructure for the internet of things.
Restructuring Crucial for Agriculture Growth during Integration
The acceleration of agricultural restructuring towards higher added value and sustainable growth in combination with rural development is key for the agriculture sector to progress amidst the country’s integration into the world and ASEAN in particular, VNA reported, citing an agricultural official.
The development of key products and the application of advanced science and technology will help the sector increase productivity and reduce costs, said Deputy Minister of Agriculture and Rural Development Le Quoc Doanh at a conference on the sustainable growth of agriculture during ASEAN integration which opened in Hanoi on September 15.
Vietnam Industry Ministry to Supervise $10.6 Billion Steel Project
The Ministry of Industry and Trade (MoIT) will directly assess and supervise the development of the $10.6 billion Hoa Sen Ca Na steel making complex in the south-central province of Ninh Thuan, an official said.
MoIT Heavy Industry Department Director Truong Thanh Hoai made the announcement after the public voiced concerns that the project, which will be built by Hoa Sen Group and produce about 16 million tons of products per year, may harm the environment.
Quang Ninh Calls for Singaporean Investment
A seminar promoting investment in the northern province of Quang Ninh held in Singapore on September 13 is expected to open more cooperation opportunities between the two sides in the time ahead, VNA reported.
At the event, Quang Ninh representatives introduced the province’s potential and policies to attract foreign investors, especially those from Singapore.
U.S. Advances Global Procurement Initiative Partnership in Vietnam
The U.S. Trade and Development Agency (USTDA) on Sept. 15 expanded its partnership with Vietnam under the Agency’s Global Procurement Initiative (GPI).
USTDA and the Public Procurement Agency under the Ministry of Planning and Investment of Vietnam signed a grant agreement to cooperate on a feasibility study that will develop a database to track contractor past performance.
The database represents a component of Vietnam’s e-government procurement (e-GP) project, which aims to modernize the country’s procurement processes.
Vietnamese Prime Minister Nguyen Xuan Phuc has encouraged Hong Kong investors to boost the presence in the Vietnam, which has accelerated economic integration and improved its investment climate considerably.
The Vietnamese government will initiate its plan to sell shares in Vietnam Dairy Products JSC (Vinamilk
), the country’s biggest milk producer, by the end of this year, Dang Quyet Tien, deputy head of the Corporate Finance Department under the Ministry of Finance, told press Wednesday.
State-owned State Capital Investment Corporation (SCIC), which holds a 45% stake in Vinamilk, is outlining a divestment plan and will submit it to the government for consideration, he added.