[Round-up] Vietnam, Israel Cooperate in Space Technology, Five Prosecuted for Massive Losses

Tuan Minh

08:33 23/06/2017

BizLIVE - The Vietnam National Satellite Centre and the Israel Space Agency have inked an agreement on cooperation in science and technology and peaceful use of outer space. The Vietnamese police has decided to prosecute five former executives of two companies under state-run PetroVietnam.

[Round-up] Vietnam, Israel Cooperate in Space Technology, Five Prosecuted for Massive Losses

Prime Minister Nguyen Xuan Phuc meets with former U.S. Secretary of State John Kerry in Hanoi on June 20. Photo: dangcongsan.vn

No Trade 'Confrontation': PM Phuc Tells Ex-Secretary John Kerry
Prime Minister Nguyen Xuan Phuc has told former U.S. Secretary of State John Kerry to convey a message to U.S. President Donald Trump that there is no confrontation on trade between Vietnam and the United States.
Vietnam signed contracts to buy U.S. equipment and services and hoped the U.S. market will be opened for Vietnamese exports, he said at a reception in Hanoi earlier this week for Kerry during the guest’s two-day visit to Vietnam.
Vietnam, Israel Sign Agreement on Space Technology Cooperation
The Vietnam National Satellite Centre and the Israel Space Agency have inked an agreement on cooperation in science and technology and peaceful use of outer space.
At the signing ceremony, Israeli Ambassador to Vietnam Meirav Eilon Shahar said under the agreement, the two sides will boost cooperation in such areas as earth observation, space industry, and satellite activities.
As a powerful country in terms of science-technology and innovation, Israel is ready to share experience, support and cooperate with Vietnam in science and technology, including space technology, for peaceful purposes, she added.
IFC Assists Vietnam with Green Textile Production
The International Finance Corporation (IFC), a member of the World Bank Group, has helped Vietnamese garment-textile outsourcers save over 20 per cent of water and energy consumption, the Vietnam News Agency (VNA) reported.
The information was released at a workshop reviewing the program on enhancing resource-efficient consumption, held by IFC in HCM City on Wednesday.
Five Prosecuted for Massive Losses at PetroVietnam’s Subsidiary
The Ministry of Public Security’s Investigative Agency has decided to prosecute five former executives of the textile factory of the state-run energy company PetroVietnam, and a subsidiary, for causing considerable economic losses.
The suspects include Tran Trung Chi Hieu, former CEO of PetroVietnam Petrochemical and Textile Fibre Company (PVTex), a joint project between PetroVietnam and Vietnam Textile and Garment Group (Vinatex); Vu Dinh Duy, former director-general of PVTex; Vu Phuong Nam, former chief accountant; Dao Ngo Hoang, former head of the Trade Department, and Do Van Hong, former chairman and general director of the Kinh Bac Petroleum Construction and Investment JSC, a subsidiary of PetroVietnam.
E-hailing Cab Projects Not Stopped, Says Ministry
The Ministry of Transport on Tuesday clarified on its website that it has not issued any instructions to stop the pilot implementation of passenger e-hailing projects such as Grab and Uber.
The ministry issued the note after several online newspapers published reports recently that the pilot e-hailing project has been halted.
Web Travel Agencies Warn Vietnam: Shape Up or Ship Out
Google and Singaporean sovereign fund Temasek have forecast the Vietnamese online tourism services market to be worth US$9 billion by 2020, and said local companies should work quickly or risk losing the market to international companies, according to VNA.
Vietnam now has 47.7 million internet users while 48% of tourists use their smart phones for booking rooms and 42% for searching tourism information, said ” Trinh Quang Chung, industry manager of Google Asia Pacific.
Vietnam’s GDP Growth Seen at 6.5% as FDI Rises
Stronger export growth and a continued rise in investment suggest Vietnam’s GDP growth will go back above 6.5% in 2017, after a slowdown to 6.2% in 2016, according to VNA.
The information was given at launch event of the latest Economic Insight 2017 - South East Asia Q2 report, organized by the Institute of Chartered Accountants in England and Wales (ICAEW) in Hanoi on Wednesday.
Hanoi-based FLC Group plans to buy 15 airplanes from Boeing for its Bamboo Airways amid rising foreign tourist arrivals to Vietnam.
The information was announced at a meeting at FLC Group’s headquarters between its top executives and representatives from the U.S. aircraft manufacturer.
Vietnam had a trade deficit of $323.35 million in the first half of June, bringing the year-to-date shortfall to $2.8 billion, compared to a trade surplus of $1.09 billion in the same period last year, according to customs data.
CapitaLand on Wednesday announced that its wholly-owned subsidiary CVH Sparkle has divested its entire 65% stake in Vietnam-based real estate company Sparkle Value Homes Company (SVH) for $4.6 million.
CVH Sparkle bought the 65% stake in SVH for 121.2 billion dong ($5.34 million), meaning that the Singaporean property firm has a loss of at least $700,000 in this disposal.
A combination of rapidly growing per capita income of Vietnamese consumers and the relaxing of regulations sets the perfect environment for the retail sector to bloom, HSBC has said in its latest report.

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