Mytel, a joint venture between Vietnamese telecommunications Group Vietel and Myanmar, in Yangon. Last year Vietnam’s investment in Myanmar totalled 2.2 billion USD, ranking 7th among 49 countries and territories investing there. In 2009 the Hoang Anh Gia Lai Group came to Myanmar to build the Myanmar Plaza - a shopping center, offices, and hotels in Yangon. The BOT project will expire in 70 years, and last year it earned 50 million USD. The 2nd phase of the Myanmar Plaza will be completed in 2020. Cao Duy Thinh, Director of Hoang Anh Gia Lai Myanmar, said “A big city with a growing demand for housing will always be attractive to real estate investors. Middle-class apartments are lucrative and good policies will draw more investors.” Vietnamese businesses have advantages in IT and telecommunications. Mytel, a joint-venture between Viettel and Myanmar that officially opened in June, 2018, has signed up 4 million subscribers in 6 months. BIDV is one … [Read more...] about Vietnamese businesses invest in Myanmar
Hoang anh gia lai hotel
Joint projects a priority for Vietnam and Laos
Prime Minister Nguyen Xuan Phuc (right) and his Lao counterpart Thongloun Sisoulith Photo: VNA At the 41th session of the Vietnam-Laos Inter-governmental Committee in Hanoi on January 6, co-chaired by Vietnamese and Laos prime ministers Nguyen Xuan Phuc and Thongloun Sisoulith, both leaders stated that their governments will boost the implementation of Vietnamese projects in Laos and vice versa, especially those in hydropower, air and seaports, electricity, and infrastructure. Another focus will also be placed on speeding up the implementation of delayed Vietnamese projects in the neighbouring country. According to a bilateral co-operation plan for 2019 signed between the two governments, “The two nations will further facilitate Vietnamese investors into Laos and Laotian investors into Vietnam to seek investment opportunities and deploy their projects. Priorities will be given to enterprises of both nations in implementing projects in areas along the borderline.” " In … [Read more...] about Joint projects a priority for Vietnam and Laos
BUSINESS NEWS IN BRIEF 6/9
SSI upgrades stock board and order services for Web Trading SSI Web Trading, an online trading service from Saigon Securities, has upgraded its online stock board and updated two more conditional orders for derivative trading. The two new orders, namely OCO and Bull & Bear, are the two most useful orders in derivative trading. With this upgrade, all market data displayed on the board and order screen will be updated consecutively and immediately, helping investors track stock prices and follow transactions quickly and accurately. In June, SSI also upgraded its Web Trading by adding four more types of conditional orders. The continuous upgrades to the platform demonstrates SSI’s efforts in providing diversified, efficient trading tools for profit maximisation and risk prevention for clients when practicing derivative trading. With two new conditional orders, OCO and Bull & Bear, SSI has six types of conditional orders, including Up, Down, Trance Up, … [Read more...] about BUSINESS NEWS IN BRIEF 6/9
BUSINESS NEWS IN BRIEF 17/8
Masan takes full ownership of tungsten processing facility Masan Resources Corporation (UPCoM: MSR), one of the world’s largest integrated industrial tungsten mineral and chemical producers, announced that Nui Phao Mining Company Ltd. (NPMC), a wholly-owned subsidiary of the company, has acquired H.C.Starck GmBH’s (HCS) 49 per cent stake in Nui Phao-H.C.Starck Tungsten Chemicals Manufacturing LLC (NHTCM) for the total cash consideration of $29.1 million, and now owns 100 per cent of this company. NHTCM, previously a joint venture between NPMC and HCS, was established in 2013 and is a leading producer and global supplier of tungsten chemicals (ammonium paratungstate [APT], blue tungsten oxide [BTO], and yellow tungsten oxide [YTO]). NHTCM processes tungsten concentrate (TC), the main product of NPMC, into higher value-added tungsten products. In consideration of NHTCM’s contribution to the development of Vietnam’s high-tech industries, the Vietnamese Ministry of … [Read more...] about BUSINESS NEWS IN BRIEF 17/8
Da Nang tourism makes spectacular leap in past decade
A corner of Da Nang city (Photo: VNA) Hanoi (VNA) – Da Nang city has made a “spectacular” leap forward in tourism development over the past decade, said Chairman of Da Nang Tourism Association Huynh Tan Vinh. Located between two famous destinations of the ancient imperial capital of Hue and the ancient port city of Hoi An, Da Nang used to be merely a transit point without any outstanding attractions. Deciding to make tourism a spearhead sector, the city has invested in infrastructure, adopted policies to attract investors and created its own events, such as the international fireworks festival and international sport tournaments. The efforts have paid off, with a three-fold increase in the number of visitors from 1.2 million in 2008 to 6.6 million in 2017 and a ten-fold rise in tourism revenues, from 2 trillion VND in 2008 to nearly 20 trillion VND last year. Chairman of Da Nang Tourism Association Huynh Tan Vinh noted that in the past decade, hotel rooms in … [Read more...] about Da Nang tourism makes spectacular leap in past decade