President Tran Dai Quang Begins State Visit to Italy
President Tran Dai Quang and a high-ranking delegation arrived in Rome on November 21 afternoon, beginning his state visit to Italy from November 21 to 24, at the invitation of his Italian counterpart Sergio Mattarella.
The Vietnamese president will visit the Vatican on November 23 as a guest of Pope Francis, the Vietnam News Agency (VNA) reported.
HCM City, European Businesses Enhance Cooperation
Chairman of the Ho Chi Minh City People's Committee Nguyen Thanh Phong hosted Michael Behrens, new chairman of the European Chamber of Commerce (Eurocham
) on November 21 to discuss orientations for cooperation in construction and sustainable development.
Phong thanked Eurocham for its role as a bridge linking the city’s leaders and European businesses operating in the southern economic hub, VNA reported.
Petrolimex to Go on Bourse This Year-End
Vietnam National Petroleum Group (Petrolimex), the country’s largest fuel distributor, will complete procedures to list on the stock market by the end of this year, the company said in a public statement.
In the remaining months of this year, the company will finish divesting its holdings in Petroleum Logistics Service and Investment JSC at the request of the Government Inspectorate.
Japan to Open First Tourism Office in Vietnam
The Japan National Tourism Organization (JNTO) will establish the first representative office in Hanoi following a decision by the Ministry of Culture, Sports and Tourism.
The JNTO office will provide more information on Japan for Vietnamese and support Vietnamese to handle tourism administrative procedures.
Vietnam Parliament Okays E-visa for Foreign Visitors
Vietnam’s National Assembly on Nov. 22 agreed to implement electronic visas (e-visa) for foreign tourists to enter Vietnam on a trial basis.
The trial implementation period will last for two years, starting from Feb. 1, 2017. The one-entry visas will be issued online, valid for 30 days.
SCIC to Unload 9% Stake of Vinamilk worth $800 Million on Dec. 2
State Capital Investment Corporation (SCIC) will sell a 9% stake in Vietnam Dairy Products JSC or Vinamilk on December 2, SCIC said at a roadshow on November 21.
The shares will be sold to the general public. The dairy major has, however, not received any specific bids or picked any strategic investors.
With the company’s market value of $9 billion, the 9% offering would be one of the largest in Asia this year.
Nexif Energy, a Southeast Asian independent power producer headquartered in Singapore, has reached an agreement to subscribe additional equity in Viet Hydro Pte Ltd, international media reported.
Viet Hydro will use the proceeds to increase its holding in the Coc San project to 92%, Nexif Energy said in a statement, without disclosing financial terms of the investment.
The U.S. dollar slightly weakened against the Vietnam dong on Tuesday morning as the greenback’s appreciation streak ended due to profit taking.
The State Bank of Vietnam, the country’s central bank, adjusted its mid-point USD/VND rate down by four dong to 22,150 on November 22. This is the first downward adjustment over the past 14 days.
Malaysian department store operator Parkson Holdings has announced that it will close the third and the last outlet in Hanoi on December 15 after eight years of operation due to anemic sales and growing competition from other retailers.
The store, Parkson Viet Tower, is located at a busy commercial zone in Dong Da district, informed of the “displacement” to business partners two months ago and the move will not affect rights of Parkson loyal clients, the firm said.
Vietnam’s sole privately-run carrier VietJet Air will conduct a long-awaited initial public offering (IPO) next month, in a move to raise funds for its ambitious expansion plans.
VietJet will pitch its IPO through Nov. 30 and will start taking orders for the deal between Dec. 1 and 12, Reuters reported, citing people familiar with the issue.
Vietnam loses about $780 million per year, equivalent to 1.3% of GDP due to environmental problems caused by poor sanitation, according to the World Bank.