South Korea’s CJ Says to Invest in Central Highlands
South Korean conglomerate CJ Group
has said it will look for opportunities to invest in Vietnam’s Central Highlands region, especially in agriculture and food processing, said a representative at an investment promotion last weekend attended by PM Nguyen Xuan Phuc.
At the event, local and foreign companies won approval to invest some 80 trillion dong ($3.5 billion) in the region.
Aeon to Open 2nd Mall in Hanoi
Japanese retailer Aeon Mall
plans to invest $200 million in a second shopping mall in Hanoi’s Ha Dong district, following the opening of the first one in Long Bien district in late 2015.
The mall, set to come into operation in 2019, will be the fifth of its kind in Vietnam as the retailer seeks to take advantage of a BRT and railway routes that connect the district with the inner city.
Hai Phong Fosters Investment, Tourism Links with Japan
A forum was held in Hai Phong on March 12 to promote investment and tourism partnerships with Japan, one of the biggest investors in the northern port city, the Vietnam News Agency (VNA) reported.
Hai Phong was one of the first localities to welcome Japanese firms seeking business opportunities after Vietnam began the Doi Moi (Reform) process. Its achievements over the last three decades are partly thanks to Japanese investors, Secretary of the municipal Party Committee Le Van Thanh noted.
More Solar Power Projects to be Developed in Binh Phuoc
The southern province of Binh Phuoc has two communes eligible for solar power projects with capacity between 130 MW and 300 MW, according to the Power Development Project Management Board No.6 under the Electricity of Vietnam (EVN).
Vice Chairman of the provincial People’s Committee Huynh Anh Minh said Binh Phuoc is calling for investment in solar power projects in tandem with high-tech agriculture development.
Finland-funded Program Backs Local Innovative Projects
The Vietnam – Finland Innovation Partnership Program Phase 2 (IPP) held the IPP Harvest Day in Hanoi last week to review its activities and orchestrate its exit phase with an emphasis on creating partnerships, sustainability and impact.
The event, which took place on March 10, included an exhibition of the IPP’s projects, a review and graduation ceremony for the Training of Trainers 2 program on innovation and entrepreneurship in collaboration with universities, co-creation and networking activities, and the announcement of the IPP exit plan and launching the IPP Alumni Network.
Vietnamese Tea Firms Eye U.S. Market
Representatives from Vietnam’s tea-growing localities and famous tea firms took part in a recent seminar in New York, to seek opportunities to enter the U.S. market.
During the event, experts highlighted the potential for Vietnam’s tea products to access the U.S. market thanks to the country’s long-lasting history of tea growing.
HCM City, Belgian Locality Look for Closer Ties
Authority of Ho Chi Minh City is always willing to create favorable conditions for Belgian firms in general, and those from East Flanders in particular, to invest into the city, especially in high-tech agriculture and biotechnology, a municipal official has said.
Chairman of the municipal People’s Committee Nguyen Thanh Phong made the statement at a meeting with visiting Governor of Belgium’s East Flanders province Jan Briers on March 10, VNA reported.
Companies listed on the Hanoi Stock Exchange (HNX) earned a combined profit of 15.03 trillion dong ($659 million) in the fourth quarter of 2016, little changed from a year earlier. Up to 90% of the firm reported a profit in the period, according to exchange data.
Inward remittances to Vietnam could decrease if U.S. President Donald Trump further twists his immigration policies, financial expert Nguyen Tri Hieu told national broadcaster Voice of Vietnam (VOV).
According to government statistics, remittances sent home by overseas Vietnamese increased steadily over the past two decades to a record high of $13.2 billion in 2015 before plunging to $9 billion last year.
JA Solar Investment (Hong Kong) Limited has suspended the construction of a solar panel factory in Vietnam’s northern province of Bac Giang after government agencies said it began without proper permits.
The Chinese firm broke ground of the plant on November 27, 2016, one month before the government issued an investment license for the project that has a cost of $280 million.
Two overseas companies have planned to invest a combined $795 million in solar power projects in Vietnam’s Central Highlands province of Dak Lak, the country’s coffee basket, according to Reuters.
Overseas investors net bought 316,990 shares worth 55 billion dong ($2.4 million) of FLC Faros Construction Joint Stock Company (ROS) on March 13, lengthening their buying streak since the start of this year.
Foreign trading accounted for 8.5% in volume and 8.6% in value of ROS transactions during March 13. Their demand helped the stock gain 1.2% to close at 173,300 dong ($7.6) a share in the trading day.