Sanitas to Invest in Health Services in Vietnam
Belgium-based Sanitas is partnering with local entities to invest in high-quality health service in Vietnam and it will carry out a pilot plan in the central province of Thua Thien-Hue, a Sanitas executive told local authorities.
Sanitas will cooperate with two hospitals in the province to reduce hospital fees and improve the quality of health service, according to the Vietnam Investment Review.
VietinBank Eyes More M&As to Grow Bigger
In addition to PGBank, Hanoi-based VietinBank (CTG) will merge other local banks into it to rapidly expand its network and enhance its foothold, said VietinBank Chairman Nguyen Van Thang.
The merger of small-sized PGBank into VietinBank is expected to be completed in the coming September, Thang added.
Russia Completes Ratification of EAEU-Vietnam FTA
Russian President Vladimir Putin put his signature to ratify the free trade agreement (FTA) between the Eurasian Economic Union (EAEU) and Vietnam on May 1, according to the Vietnam News Agency.
According to the agreement, Vietnam and the EAEU will reduce and/or eliminate customs duties on 87% of goods originating in the other party.
Vietnam Asks for U.S. Scientists’ Help in Unraveling Fish Kill
The Vietnamese government has invited scientists from the U.S., Germany and Israel to find out the cause of the mass fish deaths along the central coast.
Minister of Natural Resources and Environment Tran Hong Ha on Monday worked with foreign experts who specialize in oceanography, coastal geology, marine environment, and coastal engineering, to assess the activities of factories near the Vung Ang beach in Ha Tinh province, home to a steel mill of Taiwan’s Formosa
Auto Importers Petition Government to Hold Taxes Steady
Auto importers have petitioned the Vietnamese government to consider problems related to some revised articles and supplements in the Law on Special Consumption Tax, which will become effective on July 1.
This is the second change of the tax calculation this year. The first was put into effect in January 1. The changes, which were made in such a short time, reportedly made it difficult for auto businesses to set up their future plans.
Vietnam Banks Cut Lending Rates for Businesses in Response to PM’s Call
A number of Vietnamese banks including Vietcombank (VCB), VietinBank (CTG) and BIDV (BID) have cut interest rates by 0.5-1 percentage points on loans for businesses after Prime Minister Nguyen Xuan Phuc
last week urged banks to support firms.
Prior to the cuts, local firms borrowed at 6.8%-9% per annum in case of short-term loans and 9.3%-11% for medium- and long-term loans, according to the central bank.
Foreign Funds Buy into Vietnam's Top Mobile Retailer
Nine foreign funds have acquired a combined stake of around 3% in Mobile World Group (MWG), among the top mobile retailers in Vietnam, for around $14.8 million.
The funds, including the U.S.’s Chambers Street Global Fund and Thailand's Thanachart Securities Pcl, bought the stake from British Virgins Islands-incorporated CDH Electric Bee Limited, data of the Vietnam Securities Depository showed.
Trans-national companies have been carrying out sizable projects in Vietnam since the country started calling for foreign investment nearly 30 years ago, making the country stand out on the world’s investment map, Prof. Nguyen Mai wrote in an article published on the Dau Tu newspaper.
Canada-based CMX Renewable Energy Inc. is seeking a license to construct a 150-megawatt (MW) solar power plant in the central province of Ninh Thuan with an investment of $150 million, the Dau Tu (Investment) newspaper reported.
At a recent meeting with the local government, the Canadian energy firm pledged to provide 1% of the plant’s output to locals for free.
Vietnam spends up to 200 trillion dong (roughly $9 billion) on public procurement on average per year, according to the Ministry of Finance.
The country could save 10%-17% of the total expense, or between $893 million and $1.2 billion, if public procurement is carried out in a concentrated manner.