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BUSINESS IN BRIEF 6/4

Fuel, material prices on upward trend, Acecook & Fujitsu to build Logistic information system in VN, Electronic, refrigeration retail market expected to magnetize investment, Electronic, refrigeration retail market expected to magnetize investment

Quang Liem wins Final Four of College Chess with Webster University

 Vietnamese grandmaster Le Quang Liem performed brilliantly as captain, leading the Webster University team to overall victory at the 2016 Final Four of College Chess that took place in New York on April 2-3. 

National Assembly calls for statement on East Sea

 The East Sea problem became the main focus during the ongoing 11th meeting of the 13th National Assembly with many deputies urging the assembly to officially voice its opinions and suggest action to address the issue.

Russian universities step on gas to attract Vietnamese students

  A group of prestigious Russian universities have visited Vietnam to seek cooperation opportunities amidst a rising trend of studying overseas amongst young Vietnamese people.

Russia’s $1 billion automobile complex revoked

The Nhon Hoi Economic Zone Management Board has just revoked the investment certificate of Russian investor Bus Industrial Center Ltd’s $1 billion complex to produce buses, cars and agricultural equipment due to its long delay in implementation.

Keppel Land’s subsidiary exits Vietnamese joint venture

Singaporean developer Keppel Land Ltd’s subsidiary, Palmsville Investment Pte Ltd, has sold the 70 per cent stake it had in the joint venture Quang Ba Royal Park Joint Venture Company Ltd to BRG Group Joint Stock Company.

Miss Ao Dai Vietnam 2016 – Road to Miss World Crown aired

 The reality television show, Miss Ao Dai Vietnam 2016 – Road to Miss World Crown will be aired on VTV6 channel starting on April 5.

Tu Lan Adventure Race comes back with harder challenges

 The Tu Lan Adventure Race 2016 was held in Quang Binh province from March 31 to April 3. It was a competition of 100 people who were divided into 10 teams, racing along 30km of untamed rivers in traditional Doc Moc (dugout canoe).

Vietnam ready to deal with Zika virus, says Health Minister

 The Health Ministry had a working session with the People’s Committee of Ho Chi Minh City on addressing the spread of Zika virus on April 5 in the city.

National Assembly debates relief of Prime Minister position

 On April 6, National Assembly (NA) deputies discussed in groups the relieving of duty of the current Prime Minister as part of the agenda of the 13th legislature’s last meeting.

VN Central Bank approves BIDV plan to open Yangon branch

 The State Bank of Viet Nam (SBV) on March 31 approved the Bank for Investment and Development (BIDV) of Viet Nam's plan to open a branch in Yangon city, Myanmar.

Vietnam hosts 3rd Int’l Fashion Week

 Vietnam’s best fashion designers and their international counterparts will show their collections in the third Vietnam International Fashion Week.

HCM Stock Exchange puts EIB shares on warning list

 HCM Stock Exchange (HoSE) put shares of the Vietnam Export Import Bank (EIB) on the warning list due to its accumulated losses over two consecutive years.

Fitch sets 5 VN bank’s ratings

 Fitch Ratings has issued the long-term issuer default ratings (IDRs) on five Vietnamese banks.

Hanoi water pipeline contract with Chinese firm on hold

 The Hanoi People’s Committee has proposed that the Prime Minister ask the developer of the Da River Water Project Phase 2 to postpone signing a contract with a Chinese pipe supplier.

Panama law firm says data hack was external, files complaint

 The Panamanian lawyer at the center of a data leak scandal that has embarrassed a clutch of world leaders said on Tuesday his firm was a victim of a hack from outside the company, and has filed a complaint with state prosecutors.

Are Vietnamese students at international schools Westernized?

VietNamNet Bridge - Many Vietnamese parents want to send their children to international schools, but fear that the children would become ‘westernized’ and lose the ‘Vietnamese nature’.

Vietnam, Japan boost science-technology joint work

 Vietnam’s scientific research capabilities were introduced at a seminar held in Osaka city, Japan on April 5, which attracted over 50 professors and lecturers from universities and research institutes in Osaka, Kobe and Kyoto.

Vietnam targets more official tickets to Olympics 2016

 A number of Vietnamese squads will be sent to foreign countries this April for further training in anticipation of the Olympics and Paralympics 2016 qualifiers in Brazil.

2,900 firms close down in first quarter of 2016

 The shortage of long-term capital coupled with low competitiveness should be blamed for the rising number of firms going bankrupt and temporarily halting operations in the first quarter of 2016.