[Round-up] Viettel Earns $44 Million Profit from Overseas Ops, Tata Eyes Renewable Energy Plant

Tuan Minh

19:00 17/07/2017

BizLIVE - Military-run Viettel earned a pre-tax profit of $44 million from its overseas operations in the first half of 2017. Tata Power Ltd from India proposed to implement a renewable energy project in the central province of Phu Yen.

[Round-up] Viettel Earns $44 Million Profit from Overseas Ops, Tata Eyes Renewable Energy Plant

Metfonr - Viettel's brandname in Cambodia. Photo: tinnhanhchungkhoan.vn

Party Chief Nguyen Phu Trong to Pay State Visit to Cambodia
Party General Secretary Nguyen Phuc Trong will pay a State visit to Cambodia from July 20 to 22 at the invitation of Cambodian King Norodom Sihamoni, the Party Central Committee’s Commission for External Relations announced.
The visit comes on the occasion of the 50th anniversary of bilateral diplomatic ties, affording both sides a chance to review their 50-year relationship and opening up a new period to lift ties to a higher level.
Garment Manufacturers Feel Pressure from Foreign Fashion Brands
While Vietnamese garment companies think the domestic market is too small, foreign investors consider Vietnam the "new land" to exploit, with the garment market worth $4.5 billion.
The small scale of the domestic market is not the alternative market for Vietnamese garment companies to target when exports fall, said Vinatex’s CEO Le Tien Truong.
International Fashion Brands Target Vietnam Market
International brand names are starting to grab the attention of HCM City’s fashion-conscious people, clearing the way for more ready-to-wear clothing stores in Vietnam.   
More than 50 well-known brand names, such as Giordano, Mango, Zara, Topshop, Gap and Old Navy, have opened stores in HCM City. While Old Navy opened its first store last month, H&M launched its brandname last weekend with a fashion show at a leading shopping center in the city.
Smart Production Needed for Vietnam's Textile Industry
Smart production towards sustainable development of the textile and garment industry was discussed at a workshop by the Vietnam Textile and Apparel Association (VITAS) in Hanoi. The event, part of a cooperation program between the Republic of Korea (RoK) and Vietnam, sought to improve Vietnamese textile enterprises in the context of digital era.
The seminar sought to improve the capacity of Vietnamese textile enterprises in the context of digital era and the fourth industrial revolution to sharpen their competitive edge. It also provided a platform for Vietnamese firms to meet with leading RoK experts, and get consultations of dyeing and smart fabric management systems, digital technology transformation, 3D design in the fashion industry, and sustainable development trends in the textile and garment industry.
Staggering 32.8 Million People Playing Online Games in Vietnam: Survey
More than a third of Vietnam's population play online games and they are expected to spend $365 million on virtual entertainment this year, making it the 28th biggest market in the world, according to a games data site, according to VnExpress.
The Amsterdam-based Newzoo, which surveyed online players in major cities, estimated that 32.8 million people will be playing online games in Vietnam this year. Players' ages range from 10 to 50 years old, with more than half of them from 21-35 and usually with a paid job.
Tata Power Proposes Renewable Energy Plant in Phu Yen
Tata Power Ltd from India proposed to implement a renewable energy project in the central province of Phu Yen, during a meeting with provincial leaders last week, according to the province’s website.
Tata Power Ltd, an affiliate of the Tata Group, is one of the leading businesses in India in the power sector. Earlier, the company was granted permission by the Government to build the Long Phu 2 thermal power plant, expected to cost $2 billion, in the Mekong Delta province of Soc Trang.
DHL eCommerce Launches Nationwide Domestic Delivery Service in Vietnam
DHL eCommerce has launched its nationwide domestic delivery operations in Vietnam, offering a range of services “tailored” for the e-commerce sector.
“With e-commerce spending expected to grow at around 23% per year between now and 2020, local e-tailers need scalable, high-quality logistics solutions with nationwide coverage more than ever before,” said Charles Brewer, CEO, DHL eCommerce.
Royal HaskoningDHV Signs Vietnamese Wastewater Contract
Royal HaskoningDHV has signed a EUR9.5-million contract for a complete wastewater system to serve 175,000 people in a new urban area near Ho Chi Minh City in Vietnam.
The project will deliver sanitation for residents and industries whose wastewater is currently discharged untreated, resulting in high levels of environmental pollution. The Dutch government is financing the project as part of its Facility for Infrastructure Development (ORIO program) in developing countries.
Viettel Earns $44 Million in Profit from Overseas Ops
Military-run telecom group Viettel recorded a pre-tax profit of one trillion dong ($44 million) from its overseas investments in the first half of 2017, a 156% year-on-year increase.
Its revenue rose by 25% compared to the same period last year to around 14 trillion dong ($616.7 million). Among the nine overseas markets, Peru posted the highest growth rate of 82%, following by Burundi with 38%, East Timor with 29% and Haiti with 15%.
Bangkok Airways Zeroes in on Phu Quoc
Bangkok Airways will launch regular flights to Phu Quoc, the Vietnamese island emerging as a new holiday destination in Southeast Asia.
The SET-listed Thai regional airline will become the first carrier to directly link Phu Quoc with Bangkok starting on Oct 29 with four flights a week, airline insiders told the Bangkok Post.
Over 8,000 Construction Firms Set up in H1
As many as 8,200 construction enterprises were established in the first six months of this year, according to statistics of the Ministry of Construction.
This number accounted for 13.4% of newly-established enterprises nationwide, up 10.7% over the same period in 2016, of which 2,300 firms operated in the real estate sector.
South Korea has surpassed the United States to become Vietnam’s second-largest trade partner after a free trade agreement between Vietnam and the Northeast Asian country took effect in December 2015.
Vietnam-Korea trade reached $29.12 billion in the first six months of this year, accounting for 14.7% of the Southeast Asian country’s total trade in the period, only behind $39.86 billion trade between Vietnam and China, according to customs data.
A number of segments in Hanoi’s real estate market recorded better performance in the second quarter of this year, indicating investor sentiment remains robust, Savills Vietnam has said in a quarterly report.
Foreign-invested enterprises operating in Vietnam posted a trade surplus of $1.53 billion in June, bringing the surplus to $8.31 billion in the first half of this year, compared to a deficit of $11.09 billion by domestic peers in the period, according to customs data.

TUAN MINH

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