VietNamNet Bridge - If shares of Domesco Medical Import/Export JSC are bought by Abbott, the latter will increase its ownership ratio in the third-largest pharmacy firm to 51.7 percent of chartered capital. Analysts said they could see clear signs showing that Domesco and Abbott would ‘become members of the same family’. Domesco recently stated that it has fulfilled necessary procedures to pave the way for foreign investors to hold up to 100 percent of stakes in the company. Right after the information was released, Abbott, through CRF International SPA (Chile), a subsidiary, registered to buy 2 million DMC shares. If it succeeds with the deal, Abbott will increase its ownership ratio in Domesco to 51.7 percent and turn Domesco into its subsidiary. There is a high possibility of Domesco becoming a subsidiary of Abbott. Domesco’s members alone have registered to sell 750,000 DMC shares. In September alone, there were trading sessions where 1 million DMC shares were … [Read more...] about Will Vietnam’s big pharmacy firm fall into Abbott’s hands?
VietNamNet Bridge - Because of poor processing technology, Vietnamese have to sell valuable farm produce at rock-bottom prices. One kilogram of garlic, for example, is sold at VND50,000 in Vietnam, or $3. Meanwhile, if the garlic is processed and fermented in accordance with Japanese formula, the selling price could be up to $150 per kilo. Vietnam’s tuna has the selling price lower than Japan’s. While it takes Japanese fishermen 2-3 days to conduct a fishing trip to the open sea, it takes Vietnamese fishing boats 3 days at least to reach to the fishing grounds. And Vietnamese fishermen will need another 3 days before coming back ashore. This means that tuna needs to be protected in ice for one week. The lack of modern processing technologies forces Vietnamese to sell their farm produce at the rock-bottom prices. Some days ago, dragon fruit was seen piled up on the pavements in HCM City and sold dirt cheap at VND5,000-7,000 per kilo. Because of poor processing … [Read more...] about Valuable farm produce sold at low prices
VietNamNet Bridge - In the first quarter of 2017, the US Federal Aviation Administration (FAA) will send staff to Vietnam to assess Civil Aviation Authority of Vietnam’s (CAAV) safety supervision capability in preparation for Vietnamese air carriers to open direct air routes to the US, with no transit in third countries. Vietnam Airlines, the nation’s flag air carrier, began preparing to provide direct flights to the US 10 years ago. But it still cannot because of various reasons, including the capability of the agency in charge of safety supervision. CAAV’s head Lai Xuan Thanh said in November 2016, CAAV sent staff to the US to report to FAA about the completion of the aviation safety supervision system. FAA plans to come to Vietnam to give assessment about the system and may grant CAT1 in accordance with IASA standards (international aviation safety assessment) to CAAV. Once getting approval from FAA, the US Department of Transportation will consider granting … [Read more...] about Vietnam-US direct air routes may begin in 2018
Since the beginning of the year, the central city of Da Nang has attracted more than US$152 million in foreign direct investment (FDI). For the period, the city granted investment certificates to 24 new projects with total capital of over $107 million. It also permitted $45 million added to on 12 existing projects. The processing and manufacturing industries had a total of 17 new projects, more than any other sector. Thoi Bao Kinh Te Viet Nam (Viet Nam Economic Times) HCM City inventories on decline … [Read more...] about Da Nang attracts $152m in FDI
VGP - State President Truong Tan Sang on September 9 attended the two sessions on food security, creative growth and the world and Asia-Pacific's economic situations in the framework of the 20th Asia-Pacific Economic Cooperation (APEC) Summit in Vladivostok, Russia. At the first meeting, Russian President Putin stressed that food security has become the global challenge and members of APEC need to guarantee food security by increasing investment for agriculture, improving food production and productivity, and promoting private and public cooperation. Speaking at the meeting, State President Truong Tan Sang asserted that efforts of guaranteeing food security have to be linked with the national development strategy, economic restructuring process, the implementation of Millennium Development Goals, and efforts in response to climate change. The development of agriculture and rural areas is regarded as the first breakthrough for renovation and an effective method to help Viet Nam … [Read more...] about State President stresses on food security at APEC Summit