[Round-up] Vietnam Govt Urges Faster Public Projects, Flat Group to Pour $200 Million into Solar Glass Plant

Tuan Minh

18:19 12/07/2016

BizLIVE - The Vietnamese government has asked for quicker implementation of public projects to boost economic growth. Flat Group from Hong Kong (China) has won a license for a $200-million solar glass factory in Hai Phong city.

[Round-up] Vietnam Govt Urges Faster Public Projects, Flat Group to Pour $200 Million into Solar Glass Plant

The Vietnamese government wants to speed up the implementation of public investment projects. (Photo: www.baoxaydung.com.vn)

Aker Solutions Wins Engineering Contract in Vietnam from Idemitsu Oil and Gas
Aker Solutions has secured a contract from Idemitsu Oil and Gas Co., Ltd. to provide engineering services for the development of oil and gas resources in the Nam Con Son basin offshore Vietnam.
It is the first time Aker Solutions teams up with Idemitsu on a project in Asia Pacific and marks an expansion into a key new market, Vietnam. The nine-month contract is for front end engineering design (FEED) work for the Sao Vang and Dai Nguyet developments in the Idemitsu-operated blocks 05-1b and 05-1c in the Nam Con Son basin.
Samart Plans Entry into Vietnam
Samart Corp group plans to establish a presence in Vietnam and Myanmar through two subsidiaries, Samart i-Mobile (SIM) and One to One Contacts (OTO), said a Samart source.
According to the Samart source, SIM will set up a joint venture with a Vietnamese company. The source added that Samart planned to seek more revenue from international markets amid the economic downturn in Thailand.
Vietnam to Sell 33% Stake in Rice Exporter Foodcosa
State-run Food Company of Ho Chi Minh City Ltd (Foodcosa), a rice exporter and retailer in Ho Chi Minh City, will offer a 33% stake at its initial public offering (IPO) this Friday, local media have reported.
Of the amount, it will sell 6.47 million shares, or a 22% stake, to strategic partners while another 3.24 million shares will be put up for sale at the IPO at a starting price of 12,000 dong ($0.53) a share.
Up to 1.444 million motorcycles were sold in Vietnam in the first half of this year, rising 8% from a year earlier, according to the Vietnam Association of Motorcycle Manufacturers, which is formed by Honda, Yamaha, SYM, Piaggio and Suzuki’s Vietnam subsidiaries.  
HSBC in its latest report has outlined positive and negative points of Vietnam’s economic panorama in the first half of this year while hinting some moves the government will take to hit its goals.
Navis Capital Partners (Navis), an Asia-based private equity firm, has announced it purchased an undisclosed stake in Hanoi French Hospital (HFH), a leading primary healthcare operator in Vietnam that operates a 73-bed hospital in Hanoi.
Vietnamese Online Hotel Booking Start-Up Gets Funding
Vietnamese online hotel booking start-up vntrip.vn on July 11 said it got $3 million from a group of foreign investors led by Fenghe Group and Hancock Revocable Trust, less than six months since the website www.vntrip.vn was launched.
The company told the Vietnam News Agency (VNA) this is the largest investment by foreign investors in a series A round – financing a startup in the growth stage – in a Vietnamese online startup.
Seminar Discusses Draft Law on Supporting SMEs
A seminar on the draft Law on Supporting Small- and Medium-sized Enterprises (SMEs) from the view of the business community took place in Hanoi on July 11, VNA reported.
Addressing the event, Deputy Minister of Planning and Investment Dang Huy Dong said despite the government’s effort to create a fair and business-friendly environment for local SMEs, which are regarded as the growth engine of the economy, there is still a gap between policies and their implementation in practice as well as between policies and businesses’ expectations.
Flat Solar Glass Group Invests $200 Million in Hai Phong
The Hai Phong Industrial Zone Management Board has granted an investment license to Flat Group from Hong Kong (China) for a solar glass factory worth $200 million, according to VNA.
The factory, which will cover 21.8 hectares in the Dinh Vu Industrial Park, is expected to come into operation in late 2017 with a capacity of producing about 580,000 tons of solar glass each year.
Vietnam Pushes for Faster Pace of Public Projects
The government has ordered its agencies to speed up public projects to boost economic growth, which has been slowing down amid the below-par performance of some key sectors, the Thanh Nien (Young People) newspaper reported.
In a resolution it proclaimed Saturday, the government wants the agencies to accelerate processes like site clearance and bidding and get tough on tardy contractors.
CAE to Provide Pilot Training to Vietnam Airlines through 2026
Montreal-based flight-simulator manufacturer CAE will provide Vietnam Airlines with pilot training for Airbus A320, A350 and Boeing 787s through 2026, the company announced at the Farnborough Airshow.