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BUSINESS IN BRIEF 21/10

Vinafood 1 Flourmill offering 34% stake for sale, Hong Kong TAL Group inaugurates US$50 million garment plant in Vinh Phuc, Mekong Delta adopts smart rice cultivation model, Viettel targets US$1.5 billion in revenue from overseas markets

Moody’s reviews eight VN banks

 Moody’s Investors Service on October 19 concluded its review of eight Vietnamese banks.

Two passengers banned from flying for hitting a female airline employee

 Two passengers who hit a female airline employee at the Noi Bai International Airport on Tuesday have been banned from flying by Civil Aviation Authority of Vietnam.

Three Vietnamese films enter final round of ABU Prizes

 Three Vietnamese films produced by Vietnam Television have been shortlisted for the final round of the ABU Prizes 2016, which is held annually by the Asia-Pacific Broadcasting Union.

VN contestant wins silver medal at evening gown competition of Miss Earth 2016

VietNamNet Bridge - Vietnamese representative Nguyen Thi Le Nam Em won the silver medal in the evening gown competition of the group 1 at the Miss Earth 2016 pageant.

Japan appoints new Ambassador to Vietnam

 Umeda Kunio was appointed as Japan’s new ambassador to Vietnam at a cabinet meeting on October 21.

Revisions, supplements to 2015 Penal Code submitted for consideration

 A draft law on amendments and supplements to the 2015 Penal Code were submitted to the 14th National Assembly (NA) for consideration on October 21 morning during the parliament’s second session.

Life insurers compete for market share

VietNamNet Bridge - The high expected growth rate of 30-40 percent per annum and the low 8 percent of the population with life insurance policies all make the sector attractive. Nineteen life insurers have been competing fiercely in the field.

Vegetable Village attracts visitors to Hoi An

 Tra Que Vegetable Village is a “must-see” for visitors to the ancient town of Hoi An in the Central province of Quang Nam.

Russia launches charter flights to Cam Ranh

 The Royal Flight Airlines of Russia on October 20 launched its first charter flights from Vladivostok International Airport to Cam Ranh city of Vietnam’s central Khanh Hoa province and Phuket of Thailand.

Vietnam tie 0-0 with Iraq, advance to Asian quarter-finals

 Vietnam’s U19 football team qualified for the Asian quarter-finals for the first time as they tied 0-0 and shared one point with top-placed Iraq at the final qualifying match in Bahrain on October 20.

Vietnam Airlines to launch direct Hanoi-Sydney route

 The national flag carrier Vietnam Airlines plans to open a direct route from Hanoi to Sydney, Australia in April next year. 

About 5,000 tariff lines go down to zero under Vietnam-EAEU FTA

 About 5,000 tariff lines will be cut to zero after the free trade agreement between Vietnam and the Eurasian Economic Union took effect on October 5, 2016, in accordance with a government decision and the Vietnam special import list 2016-2018 

$4 million jackpot winner bothered by people who want money

VietNamNet Bridge - After winning a jackpot worth VND92 billion (nearly $4 million), the family of Mrs. Nguyen Thi Anh Dao in the southern province of Tra Vinh has encountered manyproblems because of curious people.

Vietnam’s hallmark in UN Economic and Social Council

 A year ago on October 21, 2015, Vietnam was elected to the United Nations Economic and Social Council – one of the six major UN agencies that deals with international socio-economic, cultural, educational, health and humanitarian issues.

Vietnam promotes cooperation in Mekong Sub-region

Vietnam will propose measures to step up economic integration and cooperation in the Mekong Sub-region, geared towards sustainable development in the area, during several upcoming summits hosted by the country.

Government reports on economy restructure, public debt

 The National Assembly (NA) on October 20 heard Government reports on the economic restructuring plan and the management of public debt during the 2016-20 period.

Chinese navy ships visit Cam Ranh int’l port

 Three Chinese navy ships carrying 750 sailors will make their first port call at Vietnam’s newly-inaugurated Cam Ranh International Port in central Khanh Hoa province from October 22-26.

Private education market brings high profits

VietNamNet Bridge - The announcement by Vingroup that Vinschool, an education network run by Vingroup, will shift to a non-profit status has raised questions about the private education market in Vietnam.

USAID announced $24m Green Annamites project

United States Agency for International Development (USAID) has pledged US$24 million to help the Quang Nam and Thua Thien Hue provinces protect forests, enhance biodiversity conservation and strengthen communities’ resilience.