|
BUSINESS
IN BRIEF 30/4
Japanese
firms invest in
The Group’s
Asia-Pacific Director General, Hideaki Kato, revealed the company plans to
develop an additional three or four IZs in
Many Japanese
small-and-medium-sized businesses are keen on
Sojitz got involved
in a project to build Long Duc IZ in southern Dong Nai province which has
attracted a large number of Japanese investors since it entered operations
last September.
Among its big
investors were Lixil (US$441 million) and Temura (US$98 million).
As well as ongoing
projects, Sojitz is taking into consideration other fields, such as energy
and paper production.
Deputy Minister of
Planning and Investment Nguyen Chi Dung commended Sojitz’s investment in
SBV Governor:
Monetary market to become stable by year-end
Governor of the
State Bank of Vietnam (SBV) Nguyen Van Binh announces that the macro-economic
situation and monetary market will become stable later this year and into
next year, with basic interest rates down between 1.5% and 2%.
Accordingly, the
exchange rate will also be stable, or down just 1% from now until the end of
the year, he added.
Banks have shown
good liquidity while foreign exchange reserves reached a record figure of
over US$35 billion.
The Governor said
that loan outstanding balance of small and medium-sized enterprises (SMEs)
account for 60% of the whole banking system’s outstanding balance. If the
SMEs encounter difficulties, the banking sector will also have troubles.
At present, banks
are very cautious about providing loans to SMEs. Binh attributed this to the
high risks of bad debts.
SBV have cut back
lending interest rates over the past two years, making them far better than
they were two and three years ago.
Further interest
rate cuts will depend on the macro-economic situation. Monetary policies
should be stable to gain the confidence of businesses and people, Binh said.
Shopping
centre takes top prize in green building contest
The Green Square
shopping centre - Big C Di An, the first commercial building in Viet Nam to
use green technology, has won first prize at the seventh Energy-Efficient
Buildings contest organised by the Ministry of Industry and Trade and HCM
City Energy Conservation Centre.
Located in the
southern
It was the first
project in
Launched in 2006,
the contest has so far attracted more than 400 participating buildings in 25
provinces and cities.
Economic
experts discuss problems
And they added that
the official growth rate did not reflect the real situation.
They also agreed
that aggressive and drastic institutional reform must be carried out to keep
the country economic healthy.
The two-day forum
was held by the National Assembly's Economic Committee to propose resolutions
for the national economy in the coming year. The best suggestions will be
selected for submission to the NA.
Speaking at the
forum, the director of the Viet Nam Institute of Economics, Tran Dinh Thien,
said the economic growth rate was not steady.
"The quality
of growth and competitiveness is low, consumption and investment are going
down, especially in the private sector, people's incomes are declining - and
bad debts and public debts mostly remain at the same level. The number of
enterprises closing down has also risen to 11.9 per cent," he said.
"Meanwhile, we
haven't seen any breakthrough institutional reform. This means the economy
has stayed in a similar position after three years of restructuring," he
added.
Cao Sy Kiem, from
the National Financial and Monetary Policy Advisory Council, agreed, adding
that in his opinion, the economy was far too fragile.
"While some
enterprises have started to recover, it must be admitted that many
evaluations of the economy are still vague and the health of many enterprises
are questionable. One small congestion caused by State management could lead
to dramatic consequences for enterprises," Kiem said.
Nguyen Van Giau,
head of the National Assembly's Economic Committee, said the most important
issue facing the macro-economy was non performing loans and public debt, as
they closely affected the circulation of capital. He said the economy would
remain weak until these issues were resolved.
According to a
report by the Ministry of Finance in March,
State budget costs
in 2013 increased nine times compared to the year 2000. Of this amount,
payment of public debts increases by 4.1 times.
"Public debts
should not be under-estimated. If we don't take a serious look at this matter,
it will be too late when the due date comes," said NA deputy Tran Du
Lich.
Thien of the
"The
definition of public debts and bad debts is not clear. Statistics on such
debts are so different among agencies. The current belief is that we are
under-estimating public debts," he said.
Nguyen Dinh Cung,
director of the Central Institute for Economic Management, said the
Government had to increase budget collection by adjusting goods prices and
imposing fees, but this would result in great difficulties for the production
sector.
"If State
budget spending is still high, we need to foster privatisation with
State-owned enterprises instead of borrowing money from our people."
Given the
shortcomings of the economy, experts agreed institutional reform was now of
significant importance.
Cung said the
current role of the State in the market economy was no longer appropriate.
He said the main
matter in carrying out institutional reform was to deal with the relationship
between the Government and the market, giving the market the key role.
"It's the rule
of the market economy; we need to respect this rule. The Government can't
interfere too much in its operation," Cung said.
He also recommended
that a stricter policy be imposed by the State budget on State-owned
enterprises.
"They need to
face the lack of investment capital and choose the most effective investment
projects," he added.
Jan-Apr
inflation lowest in 13 years
Weak domestic
demand and stable food and energy prices have resulted in January-April
inflation posting the lowest rise in 13 years, according to HSBC’s report on
In the past 13
years, the monthly inflation has averaged out at 1% in the first four months
of year. However, the average monthly inflation in the same period this year
is a mere 0.2%.
HSBC expects prices
to rise modestly in the next two months as domestic economic conditions are
gradually improving. However, there is little price pressure in sight as
consumer confidence remains low and global goods prices are in decline.
Even with an
assumption of higher education and healthcare costs in August and September,
and potential electricity price hikes in summer, headline inflation this year
is forecast to end at 5.6%, says the report. This would be
The report of HSBC
was released on April 24 when the General Statistics Office also released
statistics on the price consumer index (CPI).
According to GSO,
The reason for such
a low rise is goods prices have remained almost flat.
The group of
catering services, the most weighted in the basket of items used to calculate
the CPI, has edged up only 0.15% as foodstuffs and dining-out services have
risen 0.27% and 0.18% respectively and food has dropped 0.26%.
The respective
increases of the beverages-tobacco, apparel-hat-footwear, household
appliances and transport groups are 0.23%, 0.26%, 0.24% and 0.33%.
The country’s CPI
in the first four months is up only 0.88%, well below the 4.45% recorded in
the same period last year.
BIDV raises
chartered capital to VND33.5 trillion
BIDV shareholders
have approved a proposal for raising the bank’s chartered capital to VND33.5
trillion from VND28.1 trillion.
In the capital
increase plan, the Bank for Investment and Development of Vietnam will sell
shares to its current investors and strategic shareholders, and pay a
dividend by shares. The forthcoming share sale will lead the State ownership
of the bank to fall to 86.66% from the current 95.76%.
The bank said its
listing on the HCMC stock exchange early this year had set a foundation for
an upcoming sale of shares to a strategic foreign investor.
At the bank’s
general meeting last Friday, shareholders asked whether or not the bank was
planning to merge with another credit institution, Tran Bac Ha, chairman of
the bank, said since the State remains a majority stakeholder, the bank will
not do that unless otherwise approved by the State.
The 2014 targets
the bank set at the meeting are 13% growth in outstanding loans, profit
before tax at VND6 trillion, a bad debt ratio of less than 3% and a dividend
of 9% or higher.
Last year the bank
sold more than VND1 trillion worth of bad debt to the Vietnam Asset
Management Company and will sell another VND2 trillion to this debt
trading firm this year.
The bank last year
mobilized nearly VND416.73 trillion, up 16.4% versus the previous year, and
reported total outstanding loans of VND392 trillion, up 16.7% from a year
earlier, and pre-tax profit of VND5.3 trillion, 12% higher than the 2013
target approved by shareholders.
Its return on asset
was 0.78%, its return on equity was 13.8% and its dividend was 8.5%.
Vinacafe
reports profit after big losses
Vietnam National
Coffee Corporation (Vinacafe) has earned hundreds of billion dong in profit
after a long period of losses, said general director Nguyen Nam Hai.
In April last year,
Vinacafe had total accumulated debt of around VND1 trillion and faced the
possibility of being merged into
However, the
scenarios were not translated into reality as suggested by the Ministry of
Agriculture and Rural Development to help Vinacafe get out of troubles.
Hai told the Daily
that the huge debt had been solved but declined to elaborate on the
solutions. He added the corporation was now focusing on planting and
exporting coffee.
The overlapping
export of coffee between Vinacafe, its member companies and subsidiaries was
one of the reasons behind the debt. As all of these companies exported
coffee, they undercut prices to lure customers.
Hai said activities
of the companies had been re-arranged and now just one subsidiary of Vinacafe
was responsible for signing contracts with buyers and exporting coffee to
them and the others provided warehousing and logistics services.
“We are running at
a profit thanks to this structural change,” Hai said.
Viettel in
tourism deal with Ba Ria-Vung Tau
The Tourism
Information and Promotion Center of Ba Ria-Vung Tau Province has clinched a
deal with mobile carrier Viettel to implement a project to provide tourism
information for visitors who use Viettel mobile services.
The center said the
province plans to promote tourism through its website at
http://bariavungtautourism.com.vn and on Viettel network. Tourism information
will be posted on this site and sent to Viettel users via text messages.
What is special
about this partnership is that Viettel users will receive a welcome message
that reads: “Chao mung - Welcome” upon their arrival in Ba Ria-Vung Tau for a
visit. They can seek information about restaurants, hotels and entertainment
areas, among others in the province, by texting to Viettel but they should
pay a fee for this.
Tourism companies
in the province can also send information about their promotions to Viettel’s
database. Following the approval by the province’s Department of Culture,
Sports and Tourism, the information can be sent automatically to Viettel
users.
This is one of
various programs to promote local tourism this year. Others include airing a
special show on the provincial television channel (BRT) and promoting local
tourism in Vietnam Tourism publications.
VietinBank
chairman likely to go
Pham Huy Hung,
chairman of the Vietnam Bank for Industry and Trade (VietinBank), no longer
serves as a representative of State ownership in the bank, meaning the
possibility of him losing the post of chairman is high.
The State Bank of
VietinBank is
expected to hold a general meeting of shareholders tomorrow where a new board
of directors would be picked for the 2014-2019 term.
Analysts said the
central bank’s move meant Pham Huy Hung could not retain the post of board
chairman at VietinBank in the next term. Hung is now 60 years old, the normal
retirement age.
Hung has been
serving as VietinBank chairman since 2007. From 2002 and 2009, he was general
director of the bank.
Hung came in the
spotlight when Huynh Thi Huyen Nhu, former acting head of
Many plaintiffs and
victims at the court trial early this year said they had lost money due to
the contracts they signed with VietinBank, not Nhu as an individual and
argued that VietinBank rather than Nhu should be the defendant.
At the time, Hung
stirred up a controversy when he told the media that the money which
individuals and organizations had transferred to Nhu did not go to any
accounts at VietinBank. Therefore, he argued, VietinBank was not responsible
for compensation.
Attorneys of
plaintiffs sharply criticized Hung’s comment. Tuoi Tre newspaper cited lawyer
Luu Van Tam as saying that Hung’s comment showed a sense of irresponsibility.
At the court Tam
showed 32 contracts and 32 transaction statements which 17 employees of ACB
had signed with VietinBank, which he said proved ACB’s money had gone to the
accounts at VietinBank.
In another decision
issued last week, the central bank picked Nguyen Van Thang, a member of the
board and general director at VietinBank, as a representative of 40% State
ownership in the bank; Le Duc Tho, office manager of the central bank, as a
representative of 30% State ownership in the bank; and Cat Quang Duong,
deputy head of the Credit Department at the central bank, as a representative
of 30% State ownership in the bank.
Shrimp
exports face stricter controls on antibiotic residues
The Europe Union
(EU) and
The National
Agro-Forestry-Fisheries Quality Assurance Department (Nafiqad) said it had
received the warnings from the EU and
Since early this
year, the EU authorities have sent warnings against five shrimp shipments
imported from
Although
Oxytetracyline antibiotic is allowed in seafood farming, the fact that
Vietnamese raised shrimp had been warned of the excessive antibiotic content
by the two major shrimp importers indicated that this substance was being
overused in local shrimp farming, Nafiqad said.
Therefore, Nafiqad
has called for domestic firms to tighten controls on the quality of
unprocessed shrimp. Also, the department has increased the number of samples
for antibiotic testing and kept an eye on the enterprises in the warning
lists of the EU and
Earlier, the
Vietnam Association of Seafood Exporters and Producers (VASEP) reported that
a number of shrimp shipments sent to the EU had been found to contain higher
Oxytetracyline antibiotic residues than permitted. The association said the
EU would consider imposing stricter controls on or even suspending shrimp
imports from
Currently, the
allowable level of Oxytetracyline antibiotic in the EU is 0.1ppm. This is
also the permissible rate for seafood products that the Ministry of
Agriculture and Rural Development specifies in Circular 15/2009/TT-BNN.
Last year, seafood
exports to the EU exceeded US$1.18 billion while seafood shipments to
In the first
quarter of 2014,
Lotte to
develop US$2-billion smart complex in Thu Thiem
A joint venture
between
According to Lotte,
the joint venture has received approval in principle from the HCMC government
to implement the project spanning ten hectares in Area 2A in the new urban
center.
With an investment
of US$2 billion, Area 2A will be developed into a sprawling complex
consisting of commercial center, hotel, serviced apartments, office space and
condos. The joint venture expects to finish the project’s master plan within
this year and will proceed with the project’s phased development in line with
the progress of infrastructure development in Thu Thiem New Urban Area.
The HCMC government
has envisioned
The South
Korean-Japanese joint venture plans to make the ten-hectare complex a
landmark of not only HCMC but also the Southeast Asian region.
The project while
boasting special architecture will feature modern facilities in a smart
complex. The smart systems utilized for buildings of the project include the
ubiquitous control system like the smart city, smart home and smart office
systems; the smart energy management system to deliver energy efficiency; the
information system with wifi, media pole and wireless LAN services; the
e-safety system with CCTV and integrated disaster prevention system.
Lotte and its
partners conceived the project a long time ago. At a meeting with the HCMC
government in March 2013, Lotte Chairman Shin Dong-bin said that the group
had pursued the project for years and it was now the time to kick it off.
According to the
investor, the complex in Thu Thiem is a follow-up of Lotte Center Hanoi which
is currently under construction and expected to be put into service this
September. Lotte Center Hanoi is a luxury complex comprising five basements
and 65 floors with total floor space of 253,000 square meters. It features a
high-end commercial center, a five-star hotel, smart office space meeting
international standards, luxury serviced apartments and an observatory tower to
become a destination for
Mr. Kim Min Geun,
Vice President - Head of Overseas Mixed Used Development Division of Lotte
Asset Development under Lotte Group, said that Lotte Center Hanoi and the
smart complex in Thu Thiem are important projects of Lotte when making
investments in
Lotte enjoys many
years of experience of developing modern complexes as the group has invested
in many complex projects overseas like Lotte World in
In addition to the
complex project in Thu Thiem, Lotte is pouring billions of U.S. dollars in
many sectors in Vietnam, including hotel, fast-food store chain Lotteria,
Lotte Mart supermarket, cinema, food, construction, and home shopping on TV.
Standard
Chartered
Standard Chartered
Bank (
The bank was named
in the categories of “Best Banks” for Best Service Provider for Structured
Trade Finance in
The Asset Triple A
Awards are industry excellence awards given out every year to institutions
that have outshone the competition in providing best-in-class treasury, risk
management and working capital solutions to their customers. This is the
second consecutive year Standard Chartered Vietnam has been chosen for the
awards.
“We are honoured to
receive, for the second time, The Asset Triple A Awards. This is a
significant achievement reflecting our innovation, excellence and
capabilities to deliver effective solutions in
In 2013, Standard
Chartered Vietnam continued its aggressive mode in enhancing its cash
management solutions to help clients achieve working capital efficiencies.
The bank launched a new billing statement for clients to have full
transparency on cash charges, enabling clients to have wider access to banks
and payment channels as a means to obtain reconcilable payments while getting
collection information in an almost immediate manner. The innovation pipeline
is set to cater to all cash solutions lines: liquidity, receivables and
payments as the bank continuously engages clients and regulators in
developing solution.
Besides, Standard
Chartered also provided clients from various industries with innovative ways
to have access to funding to power their working capital requirements. Most
of the clients were generally provided with multiple facilities allowing them
multiple trade financing options to cater to their respective needs. The Bank
responded positively to unique client challenges and provided cost-effective
financial solutions.
Thanks to its
innovative and differentiated solutions to enable business in
US business
entrepreneurs are quite keen on doing business with their counterparts in
At an April 27
dialogue sponsored by the American Chamber of Commerce (AmCham) in
At the event,
Vietnamese Minister of Planning and Investment Bui Quang Vinh told the
gathering that the government is seeking to attract projects which use
environmentally friendly technology and churn out higher added value
products, especially in infrastructure development, as well as in information
technology and biotechnology to buttress agricultural production.
Vinh also suggested
AmCham in
For her part,
Executive Director of AmCham Judith Fergin stated that US businesses eye
Potential partners
are closely monitoring the Vietnamese market because its Government is
undertaking important reforms in administration procedures, business
restructuring and legislation, to create a healthier competitive environment,
she added.
She strongly
recommended that the Vietnamese Government speed up negotiations on the
Trans-Pacific Partnership (TPP) agreement as the trade pact will help promote
foreign investment necessary to build the economic infrastructure for
improved supply chains, generating better jobs for citizens.
State
firms’ divestment of non-core operations hits offshore projects
A lot of offshore
investment projects have got stranded in
Widespread yet
ineffective non-core business activities have put many SOEs in peril, leading
the Government to order them to pull out and focus on their main operations.
However, the divestment process has delivered a blow to half-done projects in
the two neighboring countries.
The Foreign
Investment Agency of the Ministry of Planning and Investment said Song Da
Corporation has been grappling with difficulties to carry on a couple of
hydropower projects in Laos because its partners have declined to continue
their capital contributions.
This joint venture
has taken a hit from the Government restrictions on non-core business
operations of state firms, plus the prolonged impact of the global economic
slump, with Song Da Corporation’s all other partners having suspended new
capital injections into the projects under way.
A number of
projects have been put on hold though thousands of billions of dong has been
disbursed into them and a lot of other undertakings are under review because
of a lack of fresh funding.
Relevant government
ministries and agencies, after a series of meetings, have asked the Prime
Minister to allow the partners of the Vietnam-Laos joint venture to continue
capitalizing a number of projects which they have committed to implementing.
Nonetheless, all the stakeholders but
Also in the same
situation is the HCMC Medical Investment Company (MECO), the owner of
The first phase of the
hospital has been in service with 200 inpatient beds since the middle of
January this year. But the next development of the project has been unable to
start as the involvement of five of eight partners in MECO is considered a
non-core investment activity that must be done away with under new
regulations.
The HCMC government
has recently wrote to the Prime Minister seeking approval to permit these
five firms to continue contributing finances so that MECO could finish the
project as promised with Cambodia. The five companies are HCMC Finance and
Investment Co., Saigon Trading Group, Saigontourist, Saigon Agriculture,
Inc., and Saigon Construction Corporation.
The Prime
Minister’s Decision 929/QD-TTg issued in July 2012 compels state-owned groups
and corporations to relinquish their non-core investment operations by the
end of next year.
The HCMC government
reasoned that the
Therefore, if the
five enterprises are forced to pull out of this project by end-2015, the
operations and second-phase development of the hospital will be adversely
affected, according to the city.
The city said the
governments of Vietnam and Cambodia had reached a consensus to move on with
the next phase of the project to increase the number of beds from 200 to 500
but problems have emerged as the city has not been able to find other
companies willing to replace the five who are compelled to withdraw as per
Decision 929. Work on the second phase has not got off the ground due to this
dilemma.
The Ministry of
Planning and Investment has recently requested the Prime Minister to
temporarily allow the five firms in question to keep injecting money into the
project as capital contributions to phase one are not yet complete. At the
same time, the ministry asked the city’s authorities to mull transferring the
stakes of the five enterprises to state-owned groups or corporations whose
core operations involve the healthcare sector.
FIA underscored the
need for state enterprises to divest their non-core operations as part of the
Government’s SOE restructuring scheme but said appropriate and moderate
measures should be worked out to ensure important and strategic projects
could move on.
Many Japanese
investors are keeping a keen eye on investment opportunities as the pace of
equitisation for many state-run enterprises in
The Ministry of
Finance’s conference on investment promotion into
Japanese investors
are eagerly anticipating
Vietnam Airlines’
general director Nguyen Ngoc Minh said the national flag carrier had been
valued by Morgan Stanley and Citi Group, and the valuation had been submitted
to the government for approval.
“We have proposed
that 25-30 per cent of Vietnam Airlines be sold to foreign investors, of
which 20 per cent could be bought by a strategic investor. However, the final
decision will be made by the government,” Minh said. “However, in the long
term, the maximum 65 per cent government-held stake will gradually reduce to
51 per cent; a pattern likely to be seen in other major SOEs.”
Minh underscored
that Vietnam Airlines would conduct its initial public offering (IPO) this
October, and be listed on Vietnam’s stock market by late next year.
“We’re ready to
work with foreign financial investors and airlines,” Minh added.
Garment giant
Vinatex’s vice general director Pham Nguyen Hanh also said that Vinatex
wanted to find three foreign strategic partners, including a financial
investor and two investors who were operating in the garment and textile
field, as part of its equitisation process.
Vinatex’s valuation
had been completed and its IPO was slated for this July, Hanh said.
Vietnam Securities
Depository chairwoman Phuong Hoang Lan Huong said about 6,700 Japanese
individual investors and 140 Japanese organisations had investment accounts
in
Minister of Finance
Dinh Tien Dung said to lure foreign investment, in addition to the revision
of its Enterprise Law,
The Vietnamese
government was now focused on accelerating SOE equitisation to attract more
private investment. Some 432 SOEs would be equitised during 2014-2015, he
said.
Competition
mounts in paid TV market
There is fierce
competition at current in the paid television market as providers are running
generous promotions to attract market share.
In April and May,
Saigontourist cable television (SCTV) launched a huge campaign for customers
in
In the case
customers choose both cable and internet services, their monthly fee for a
2.5Mbs connection is only VND160,000 a month and for 4Mbs, only VND190,000.
SCTV has thrown the
market a curveball as major providers such as VTVcab, K+, MyTV and HCTV are
fast losing market share to the its highly preferential services.
Responding to the
trend, VTVcab similarly launched a new promotion, its biggest ever in
Experts are saying
the paid television market will continue this uptrend of promotions,
particularly as new entrants such as Viettel TV, FPT and VNPT make their
debuts.
In the past, with
only a few suppliers, consumers were cornered into paying exorbitant fees for
low-quality services. But now with so many competitors, providers are forced
to reconsider their strategies.
In terms of
services however, insiders have pointed out that there is little difference,
as 70-80 per cent of the channels provided by cable companies are the same.
But Cao Van Liet,
general director of K+, said customers want access to new, different channels,
and this was also a major part of their decision making process.
Nguyen Hoang Linh,
deputy general director of FPT Telecom, said that as paid television is an
entertainment product, good quality programming will attract the most
customers. “If television stations only focus on promotions to attract market
share, they may find their strategy to be unsustainable,” he added.
HOSE to
open new modern floor this week
The Hochiminh Stock
Exchange (HOSE) will inaugurate a new 12-storey building on May 1, the most
modern such facility in the country.
Designed with a
modern architectural style, the
The building is
integrated with the stock trading, depository and payment systems for various
markets, including securities and bond markets. More facilities are also in
the offing at this building to serve the derivatives market and carry out a
plan for emerging the northern and southern bourses in the near future.
With the three
major projects - the
Last week, leaders
of HOSE and contractor Coteccons witnessed the final touches putting on the
MB
The investor, MB
Land, has selected Savills
The US$29-million
tower is equipped with two escalators, five elevators, an energy-saving
air-conditioning system and two backup generators.
Savills
Another property
service provider, CBRE Vietnam, said many office buildings would be completed
and put into operation in HCMC this year, including
According to
Savills, 217 office buildings had provided over 1.4 million square meters in
this city as of the first quarter of this year, up 1% compared to the
previous quarter.
Savills said the
average occupancy and rent had inched up since the second quarter of last
year.
In the first three
months of this year, office buildings posted average occupancy of 90%, a
five-year high, and up one percentage point quarter-on-quarter and three
percentage points year-on-year.
The average office
rent in HCMC was VND531,000 per square meter in the first quarter, up 2% over
the previous quarter and 3% compared to the same period last year.
A recent survey of
Savills shows that the Grade-A, Grade-B and Grade-C office buildings have
been faring well in recent quarters, with the Grade-A segment having the
highest occupancy rate of 92%.
Foreign companies
accounted for around 60% of the total leased office space in HCMC.
Mong Duong
II receives Golden Hardhat Award
AES-VCM Mong Duong
Power Company Limited today held a ceremony to receive the Golden Hardhat
Award presented by US’ AES Corporation.
Vice president of
The AES Corporation hands over the Golden Hardhat Award to the Leadership
Team of Mong Duong 2
BOT Power Project
The Golden Hardhat
Award is a prestigious annual award established in 2009 by AES Corporation to
recognise a single AES operating business or construction project that
exemplifies what it means to put safety first, made significant improvements
in comparison with previous performance, developed new safety techniques and
best practices and improved safety performance significantly through
execution of proactive or new safety practices.
Joining the
ceremony was Pham Minh Chinh, Quang Ninh Provincial Party Committee
Secretary, Do Thong, Vice Chairman of the Quang Ninh Provincial People’s
Committee, Andrew Vesey, chief operating officer and executive vice president
of AES Corporation, together with other high level representatives from POSCO
Energy and China Investment Corporation.
The $2 billion Mong
Duong 2 BOT Power Project, with two units and the total gross capacity of
1,240MW is currently under construction in Mong Duong Ward,
After completion of
construction in the second half of 2015, the Mong Duong 2 BOT Power Project
will be the first and largest BOT coal-fired power plant in
Prudential
Prudential
Assurance Vietnam Private Limited and Standard Chartered Bank (
This came after
parent companies of both entities signed a new 15-year agreement covering in
several Asian markets subject to applicable regulations in each country.
The agreement
extends the already successful cooperation between Prudential Vietnam, the
leading life insurer in
“Prudential
“We are excited to
enter into a new stage of the highly successful partnership with Prudential
in
Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR
|
Thứ Ba, 29 tháng 4, 2014
Đăng ký:
Đăng Nhận xét (Atom)
Không có nhận xét nào:
Đăng nhận xét