Processing, packaging exhibition opens in Ho Chi Minh City The ProPak Vietnam 2019 attracts 540 exhibitors. (Photo: thegioitiepthi.vn) The 14th International Processing and Packaging Exhibition and Conference (ProPak Vietnam 2019) kicked off at the Saigon Exhibition and Convention Centre in Ho Chi Minh City on March 19. The three-day event attracts the participation of 540 exhibitors from 31 countries and territories, including first-timers such as Vietnam’s Dai Chinh Quang and Thien An Loc companies, China’s Beijing Omori Packing Machinery , and Sidel India. BT Tee, General Manager of UBM VES – the exhibition’s organiser, stated that the processing and packaging sector is facing several difficulties, including the overuse of plastics in production and the lack of orientations on environmental protection. Therefore, Propak 2019 wants to introduce new technologies that can solve these challenges. Paolo Lemma, Italian Trade Counselor in Vietnam, said that Propak … [Read more...] about BUSINESS NEWS IN BRIEF 20/3
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Over 37.6 million shares to be offered on HNX in February In 2018, HNX held 40 auctions; including 10 initial public offerings (IPOs), 29 divestments and one purchasing rights auction. — Photo hanoimoi.com.vn The Ha Noi Stock Exchange (HNX) will hold eight auctions in February to sell over 37.6 million shares of companies this month. The companies include Thai Hoa Water Supply JSC, Dien Chau Water Supply JSC, Cua Lo Water Supply SJC, Quynh Luu Water Supply JSC, Ha Tinh Urban and Environment JSC, Ninh Binh Water Supply and Sewerage SJC, Lilama 69 - 3 JSC and Lilama 10 JSC. In January, Hai Duong Province People’s Committee divested from Hai Duong Cable Television Joint Stock Company on the HNX. Of the 692,000 shares on offer, 575,000 were purchased, equal to 83 per cent. As a result, VND7.1 billion (US$303,418) was collected and the share capital surplus reached VND1.4 billion. In 2018, the HNX held 40 auctions; including 10 initial public offerings (IPOs), 29 … [Read more...] about BUSINESS NEWS IN BRIEF 2/2
Washington and Beijing are going toe-to-toe in a trade spat, and Vietnam is set to become embroiled in the conflict, for better or for worse. The row is likely to deal a blow to export-reliant Vietnam, as its overseas shipments form part of China’s value chain. “If the U.S imposes high tariffs on China’s broader cross-border supply chain, Vietnam, which exports goods that serve as inputs for China’s exports, will be badly hit,” said economist Le Dang Doanh. It’s unclear whether Washington will tax Chinese firms alone or their wider supply networks. About 2.2 percent of Vietnam’ shipments abroad are part of China’s value chain, Bloomberg quoted date from RHB Bank Bhd as saying. Sharing the same opinion, Steven Schwartz, senior director of sovereign ratings for Asia at Fitch Ratings, said South Korea, Taiwan, Vietnam and Malaysia, all of which export goods – such as machine parts and components for communications equipment … [Read more...] about What does Vietnam have to lose or gain from US-China trade war?
Ride-hailing firm Uber Technologies Inc recently agreed to sell its Southeast Asian business to bigger regional rival Grab, marking its second pull-out from an Asian market.— Photo tuoitre.vn Ride-hailing firm Uber Technologies Inc recently agreed to sell its Southeast Asian business to bigger regional rival Grab, marking its second pull-out from an Asian market. Uber will take a 27.5 percent stake in Singapore-based Grab and Uber CEO Dara Khosrowshahi will join Grab’s board. Grab was last valued at around US$6 billion. Grab provides transportation, food delivery, mobile payments and financial services and operates in 195 cities across Southeast Asia. The company claimed to have a 95 percent market share of the ride-hailing market last year when it announced plans to raise more than $2.5 billion from SoftBank and other investors. Uber’s withdrawal from the Asian market is expected to redraw the ride-hailing market including in Viet Nam. “What are the gains and … [Read more...] about Map of technology-driven taxi market likely to be redrawn as Uber pulls out
Customers and drivers are both worried that ride-hailing firm Grab's acquisition of rival Uber’s Southeast Asian business will reduce competition, resulting in higher fares and fewer incentives. The services in Vietnam have long relied on discounts for customers and incentives for drivers. Reuters quoted Grab as saying that the Uber acquisition accelerated its path to profitability in its core transport business, as it would become the most cost-efficient Southeast Asian platform. However, it is bad news for both customers and drivers in Vietnam, where there are a few public transport options, and the apps have grown in popularity. Trinh Bao Tram uses either Grab or Uber for her daily commute in Hanoi, and the discount codes available on any given day ultimately decide which service she uses, but now the 38-year-old newspaper editor is concerned about a price hike. “I use whichever firm gives me discount codes, if not, I’ll skip it. After the merger, I'll have no … [Read more...] about Grab’s deal to buy Uber sparks fear of price hike in Vietnam