Masan Consumer Plans to Reach out to Neighboring Markets
Masan Consumer Holdings, an unlisted subsidiary of Masan Group
(MSN), expects to achieve $5 billion sales in Cambodia, Laos, Myanmar and Thailand, besides Vietnam in 2020, compared to $610 million last year.
The firm, with Thailand’s Singha stepping in as investor, hopes to surpass Thaibev to dominate the ASEAN market in a near future, said CEO Seokhee Won.
Vietnam’s Small E-Commerce Players Gearing up to Face Alibaba’s Entry
Vietnamese e-commerce companies are preparing to deal with Alibaba after the Chinese firm acquired Rocket Internet-backed Lazada’s businesses in Southeast Asia for $1 billion, according to Deal Street Asia.
Nguyen Hoa Binh, chairman of Hanoi-based Peacesoft Corp, said that local companies have unique strategies and deeper understanding of the market, which will help them compete with the Chinese giant, even though they have fewer funding resources.
Viettel Global Eyes Two New Markets This Year
Viettel Global, the overseas investment subsidiary of military-run telco Viettel Group, plans to open one to two markets this year and gain 8.35 million new subscribers, up 50%.
It aims to earn a pretax profit of $51.4 million on revenue of $1.5 billion, down 10% and up 12.4%, respectively.
Qantas, Vietnam Airlines to Invest $139 Million in Jetstar Pacific
Qantas and Vietnam Airlines have unveiled plans to invest $139 million in Vietnamese low-cost carrier Jetstar Pacific to more than double the airline’s size of fleet to 30 aircraft over the next four years.
Qantas, as the owner of a 30% stake, will provide $42 million to Jetstar Pacific over a number of tranches between now and 2020 with Vietnam Airlines responsible for the remainder.
Opening Oil Retail Market to Foreign Businesses to Help Ease State Monopoly
The Vietnamese government’s plan to license foreign companies to distribute oil products for the first time will herald the elimination of what is virtually a state monopoly, the Thanh Nien newspaper cited economists as saying.
Vietnam's retail fuel market, more than 75 percent of which is controlled by state businesses Petrolimex, PV Oil and Saigon Petro, would become "more competitive" and "transparent" with the entry of Japan's Idemitsu Kosan and Kuwait Petroleum International, they commented.
Heus Increases Presence in Vietnam
The Netherlands' Royal De Heus, a leader in the animal feed industry, has boosted its presence in Vietnam with the operation of its seventh animal feed plant, located in the Mekong Delta province of Vinh Long.
The new facility will produce feed for cattle, pigs, and poultry at a capacity of 250,000 tons a year in the first phase, thus helping increase De Heus Vietnam's total output to one million tons a year, according to the Vietnam Investment Review.
Vietnam PM Backs Goldman Sachs
Vietnam is committed to macro-economic stability and the best possible conditions for foreign investors in the country, including Goldman Sachs, Prime Minister Nguyen Xuan Phuc
told Andrea Vella, head of the U.S.-based multinational investment banking firm’s Asia division.
The PM hoped that as a leading investment bank, Goldman Sachs would share its experience with Vietnam as well as partner with Vietnamese banks and firms, to make Vietnam an investment destination in the region, the Vietnam News Agency reported.
Taekwang Eyes Second Thermal Power Plant in Vietnam
South Korea’s Taekwang Power Holdings, the investor of Nam Dinh 1 thermal power plant, is keen to build a coal-fired power in the central province of Quang Tri.
Vice Chairman of Quang Tri’s provincial People’s Committee Nguyen Quan Chinh said the local province was seeking investors to finance the Quang Tri 2 thermal power project, which will be carried out under build-operate-transfer (BOT) or build-own-operate (BOO) formats, with an estimated total investment of $1.5 billion.
U.S. Consumers Favor Vietnamese Veggies, Fruits: Agriculture Secretary
U.S. consumers are keen on a number of Vietnamese vegetables and fruits, heralding stronger agricultural ties between the two countries, said Secretary of Agriculture Tom Vilsak.
Authorities of the two countries are discussing the import of some Vietnamese fruit specialties such as mango and star apple, he tipped.
Vietnam-based Hung Nghiep Formosa Ha Tinh Steel Corp (FHS), a subsidiary of Taiwanese conglomerate Formosa Plastics Group, is undergoing media attack and public fury over allegations of toxic leak from a mega steel mill that may have caused unidentified mass fish deaths.
Pactum Dairy Group, which specializes in the production of premium Long Life Dairy and Food and Beverage products, in 2015 struck a deal with Vietnam-based International Dairy Products JSC (IDP) under which the latter would buy four million liters of UTH milk per year from the Australian firm to produce Love’in Farm products.
The deal paves the way for the divestment of IDP’s foreign partners in the future, the Ministry of Planning and Investment-run Dau Tu (Investment) newspaper reported.