Vietnam May Allow Heineken to Raise Capacity by 12 Times
The Ministry of Industry and Trade may soon give Heineken Vietnam Brewery a green light to expand the annual capacity of its beer production plant in the southern province of Ba Ria-Vung Tau to 610 million liters from the existing 50 million liters.
The expansion is in line with the country’s plan on beer, wine and beverage production to 2025 with a vision to 2035. According to the plan, the sales volume of beer in the country is expected to reach 4.1 billion liters per year by 2020, exceeding 3.3 billion liters forecast for 2016.
Vietnam Is Ready to Introduce Computerized Lottery Nationwide
Vietnam’s Ministry of Finance seems ready to make some significant changes that would allow the introduction of American-style computerized lottery across the country, according to international media.
With the advent of a national computerized lottery, some fear that competition will crush traditional lottery operators. Government officials were quick to address these fears by highlighting the fact that the two lottery systems are not in direct competition.
Kenya Airways has expanded its four-year-old codeshare agreement with Vietnam Airlines to include Kuala Lumpur as the African carrier seeks to grow its business in Asia.
KQ, as the airline is known by its international code, will now book clients in Kenya and fly them and seamlessly to Kuala Lumpur International Airport, Malaysia’s main airport.
HPEF Capital Said to Consider Sale of Vietnam Education Business
HPEF Capital Partners Ltd., the Asian buyout firm spun out of HSBC Holdings Plc, is considering a sale of its controlling stake in Vietnamese education company ILA Vietnam, Bloomberg reported.
HPEF Capital, which owns about 60% of the English-language training business, and the other shareholders have been gauging interest from potential buyers. ILA Vietnam shareholders are seeking about $150 million from any sale, which may attract both private equity firms and education companies.
Korea Industrial Complex Corp. Backs Auto Exporters in Vietnam
Korea Industrial Complex Corp. aims to increase its support for auto parts exporters looking to increase sales to Vietnam, the Korea Herald quoted the state-run corporation as saying Tuesday.
Since 2010, the corporation has carried out diverse programs to support auto parts companies in Changwon, South Gyeongsang Province. It has built a network with Vietnamese regional governments, the automobile manufacturers’ association and automakers including Veam Motor, Thanh Cong, SAMCO and Thaco.
Japan Committed to Promoting Economic Cooperation with Vietnam: New Envoy
Japan remains committed to promoting cooperation with Vietnam in a wide range of economic areas including investment, said the nation’s new ambassador to Vietnam, Kunio Umeda.
At a recent news conference in Hanoi, Umeda said Japanese aid to Vietnam remains necessary to help the Southeast Asian country address poverty and other problems. Japan also should continue to provide soft loans for infrastructure development in Vietnam.
U.S.-ASEAN Business Council Asked to Connect Vietnam, U.S. Firms
At a meeting with President of the council Alexander Feldman in Hanoi on November 30, Vice Chairman of the National Assembly Phung Quoc Hien expressed hope that the U.S.-ASEAN Business Council will continue helping connect Vietnamese and U.S. businesses, the Vietnam News Agency reported.
Vietnam is keen on fostering the comprehensive partnership with the U.S., Hien said, proposing that the two sides strengthen measures to increase bilateral ties, especially in economy, trade, science and technology, education and training, while focusing on development cooperation.
As many as 5,660 apartments were sold in Hanoi in the July-September quarter, down 6% from the previous quarter and 15% from the same period last year, Savills Vietnam has said in a report.
The primary absorption rate was approximately 33%, down two percentage points (ppts) quarter-on-quarter (q-o-q) and 12 ppts year-on-year (y-o-y) as locals limit purchasing big-value assets during the seventh Lunar Ghost month, which fell in August and is believed to bring bad luck.
Companies in Vietnam earned $31.3 billion from exporting phones and spare parts in the 11 months through November, up 10.2% year-on-year, despite the kill-off of Samsung Galaxy Note 7 phone, according to official statistics.
Danish wind turbine manufacturer Vestas Wind Systems S/A has set up a Vietnam subsidiary in order to meet the potential fast growth in investment in the country’s fledgling wind power market.
Vietnam is blessed with abundant wind resources - among the richest in Southeast Asia and the outlook for wind’s future is bright, said Chris Beaufait, president of Vestas Asia Pacific, at the “Vietnam Wind Talks” seminar held in Hanoi on November 29.
The rumors on an upcoming demonetization process by the Vietnamese central bank are groundless and untrue, said a central banker at a regular press meeting with government officials on November 29.
Deputy Governor of the State Bank of Vietnam made the statement when asked about information that locals are rushing to buy gold and foreign currencies due to fears that a mass exchange of defunct notes for fresh ones is coming.