vietnam business news

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BUSINESS NEWS 30/8

Over $73.2 mln to develop hi-tech agriculture projects in Binh Phuoc

Quality management and traceability to increase fruit exports

Vietnam’s fruit export value in 2018 reached nearly US$4 billion, with fruits sent to big markets like the US, Europe and Japan.

Grab to invest $500 mln in Vietnam in next five years

Grab Holdings Inc. announced on August 28 that it will invest $500 million in Vietnam in the next five years to expand its services in the country.

 

Vietnam to promote exports of organic fertilisers

The Ministry of Agriculture and Rural Development has set targets to increase the use of organic fertilisers by the end of next year.

 

Water firms in Vietnam draw investors thanks to good business results

Positive business performance and the divestment of State capital from enterprises has helped firms in the water supply and drainage sector draw attention from investors.

 

BUSINESS NEWS 29/8

Solar power struggles to gain traction despite rapid development

 

Hotel management brands making a mark

International hotel management brands are increasing their presence in Vietnam to benefit from the potential the country possesses in resort real estate.

Four senior staff at Southern Bank charged for hefty losses

Four former leaders and executives at Southern Bank – which was later merged into Sacombank headed by jailed banker Tram Be – have been prosecuted for their alleged collusion with an ex-boss of a private firm, causing hefty losses.

 

Agro-forestry-fishery export earns $26.6 billion in 8 months

The agro-forestry-fishery sector raked in an estimate 3.64 billion USD from exports in August, raising the total value in the first eight months of the year to 26.6 billion USD, up 1.6 percent year on year.

Will 85 percent of garment workers lose jobs in 4.0 industry era?

The scenario that 85 percent of garment workers would lose jobs to robots because of the 4.0 industry revolution will not happen in Vietnam in the next 10 years, businesspeople say.

BUSINESS NEWS 28/8

Traditional taxi firms demand equal treatment with ride-hailing apps

Vietnam's IT and finance catching South Korean attention

South Korean investors are taking more of an interest in Vietnam's IT and financial sectors given the prospects created by new technology.

Former Vietnam Airlines executive to be CEO of Vinpearl Air

Phan Xuan Duc, former deputy general director of the national flag carrier Vietnam Airlines, has been named chief executive officer of Vinpearl Air, which was recently established by Vingroup.

 

Solar power providers left with excess

After rushing to connect to the national grid prior to end-June to benefit from price policies, solar power developers have now found that the grid can't handle the extra capacity.

BUSINESS NEWS 27/8

HCMC cracks the whip on projects

Drivers oppose identification badge proposal

Many motorbike taxi drivers have said it is not necessary for them to wear identification badges, or name tags, issued by grassroots government offices, as proposed by Hanoi City’s Department of Transport.

 

Aviation firm proposes setting up Kite Air

Thien Minh Aviation JSC has proposed establishing a new airline, called Kite Air, with charter capital of VND1 trillion.

 

Bank, e-wallet customers warned of scams

Techcombank and Vietnamese ewallet service provider MoMo have warned their customers to be wary of scammers, noting that they should be more cautious when asked to provide their account details and personal information.

 

Event held in HCMC to promotes VN-Indonesia economic ties

The Embassy of Indonesia in Hanoi, in coordination with the Indonesian Consulate General in HCMC, held the Bali & Beyond event at the Crescent Mall in HCMC from August 23 to 25.

 

VN banks warned about risks of real estate corporate bonds

The State Bank of Viet Nam (SBV) has instructed local banks to better control risks in corporate bond investment, especially bonds of real estate firms.