Vietnamese businesses invest over $149.5 million abroadVietnamese businesses have invested in 23 projects totaling 123.62 million USD in other countries in the first quarter of this year, according to the Foreign Investment Agency under the Ministry of Planning and Investment. An office of the Vietnamese-invested LaoVietBank in LaosFive operating projects increased their capital by 25.88 million USD in the reviewed time, bringing the total investment capital Vietnamese businesses poured overseas to 149.5 million USD. In the time, finance-banking caught top interests from the Vietnamese investors, accounting for 70.2 percent of their total newly-licensed and added capital, or 105 million USD. It was followed by manufacturing and processing which received 19.9 million USD, or 13.3 percent of the total investment capital in the quarter. The other fields were retails and wholesales with seven projects worth 8.5 million USD, or 8 percent of the total, and accommodation, dinning, communications, construction, freighting and storehouse.

Hoa Lac Hi-tech Park to have $65-mln software R&D centreA software development centre will be developed by ETC Technology Systems SJC (ETC) at Hoa Lac Hi-tech Park in Hanoi with an investment of nearly 1.48 trillion VND (some 65 million USD). Deputy Minister of Science and Technology Pham Dai Duong speaks at a ceremony on March 27 approving the development of Itera software development centre at Hoa Lac Hi-tech Park. (Photo: MoST)The 3.86-hectares Itera software development centre will be built in two phases from 2018 to 2023, featuring zones for R&D activities of general and hi-tech software and centres for product promotion and database. Itera is a hi-tech complex that produces, supplies and promotes the use of hi-tech software in both public agencies and private businesses, said ETC Chairman Pham Tien Hung at a ceremony on March 27 where the Hoa Lac Hi-tech Park management board presented an investment approval decision to the company. Located in Thach That and Quoc Oai districts, the 1,586-hectare Hoa Lac Hi-Tech Park has been developed a science city hosting investors in biotechnology, information – communication, new material technology, and automation.

Vietnamese labourers facing with challenge of Industry 4.0Industry 4.0 poses a challenge to the Vietnamese labour force so significant that the only way to meet it is to impose reforms across the board, starting with education and training programmes, experts agreed at a seminar yesterday in Hanoi. “Industry 4.0 will leave no place for farming workers. The shortage of skilled workers as Industry 4.0 comes will also be very high,” Pham Quang Ngoc, an economist and labour market expert, said at the seminar. According to the World Economic Forum (WEF)’s Readiness for the Future of Production Report 2018, among the 100 countries assessed, Vietnam was ranked among those that aren’t ready for Industry 4.0. Not only lacking in professional knowledge, Vietnamese workers are weak in problem solving, leadership and communication skills.

Grab asked to provide documents related to Uber purchaseThe Ministry of Industry and Trade (MoIT) of Vietnam has requested Grab to report on its purchase of Uber in the Southeast Asian market, including Vietnam. According to Grab’s announcement to acquire Uber’s Southeast Asia operations, Grab will integrate Uber’s ridesharing and food delivery business in the region into Grab’s existing platform. As part of the acquisition, Uber will take a 27.5 percent stake in Grab and Uber CEO Dara Khosrowshahi will join Grab’s management board. "This deal is the largest-ever of its kind in Southeast Asia," ride-hailing service Grab said in a media release on March 26. Grab is one of the most frequently used O2O mobile platforms in 195 cities in Southeast Asia.

The Ministry of Health plans to replace the five-in-one Quinvaxem combination vaccine with other types of vaccines for infants beginning this June.– Photo giadinhmoi.vnHÀ NỘI – The Ministry of Health plans to replace the five-in-one Quinvaxem combination vaccine with other types of vaccines for infants beginning this June. But the vaccine producer Berna Boitech Korea Corporation had been phasing out production of the vaccine. Thus, the ministry planned to replace Quinvaxem with another five-in-one vaccine, which would be put into use on a small scale in four localities and across the country by the end of the year. In March 2016, the vaccine was clinically tested and proven safe and effective by Việt Nam with the support of the Japanese government and health experts. From 2014-16, Việt Nam successfully implemented a campaign to promote the measles-rubella combined vaccination, which has protected more than 23 million children under 19 years old from the disease.

Electronics retailers to heat up pharmaceutical distribution segmentFPT and a number of electronics retailers are looking to expand their business by entering the pharmaceutical segment. Specifically, the stores generate $136,000 in sales revenue per month, while Pharmacity makes $11,000, Pharno $18,000, and An Khang $32,000. Currently, FPT Group holds 47 per cent of the shares in FPT Retail, Dragon Capital and VinaCapital hold 34.32 per cent, and the rest belongs to other shareholders. In early 2018, electronics retailer Digiworld mapped out its road to conquer Vietnam’s consumer goods market. The goal for 2018 is to earn at least VND200 billion ($8.78 million) in gross revenue from these two sectors.

Eximbank case extends to three more defendantsAccording to the investigation, these three people on March 27 were prosecuted as accomplices helping Le Nguyen Hung (former deputy director of Eximbank’s Ho Chi Minh City branch) to appropriate Chu Thi Binh’s VND245 billion ($10.8 million). Former director of Eximbank, Le Nguyen Hung, has escaped from Ho Chi Minh CityThe three defendants are Nguyen Thi Ngoc Tram, Tran Nguyen Xuan Lan, and Cao Lan Phuong. It was issued after investigating the case of Chu Thi Binh who lost VND245 billion ($10.8 million) of her deposits in Eximbank, while she still held the savings books. Le Nguyen Hung, who was deputy director at that time, directly dealt with her. When Binh checked the balance of her savings accounts at the end of 2017, she found she had lost more than VND245 billion ($10.8 million).

Pham Nhat Vuong in top 300 of Forbes rich listPham Nhat Vuong, owner of real estate conglomerate Vingroup and Vietnam's first billionaire, has earned a place on the list of the world's richest people as compiled by Forbes magazine. Vuong is placed behind three foreign billionaires, including Acharya Balkrishna (India), Wei Jianjun (China), and Yao Liangsong (China), who are all of equal wealth to him. According to Forbes, Pham Nhat Vuong studied in Russia and started a popular instant noodle business in Ukraine in the 1990s before moving back to his home country. “He turned some investments into non-profit ventures, including some in healthcare, education and sports. Vuong is the chairman of Vingroup, one of Vietnam's largest conglomerates with interests in real estate, retail, and healthcare, among others.

Dirty money: banks urged to report suspicious transactionsVietNamNet Bridge - Banks and payment gateways are now the most effective way for hi-tech criminals to transfer dirty money and conduct illegal actions. The money is remitted in cases related to gambling, for-profit online games, and illegal trade of goods and services. Lawyer Truong Thanh Duc said it is difficult to prevent illegal money remittances and payments. Banks cannot intervene when party A remits money to party B if the parties have stated they are making payments for legal goods or services. Banks cannot intervene when party A remits money to party B if the parties have stated they are making payments for legal goods or services.

President meets new South African, Egyptian ambassadorsPresident Tran Dai Quang hosted separate receptions for the newly-accredited ambassadors of South Africa and Egypt to Vietnam in Hanoi on March 28. President Tran Dai Quang (R) and South African Ambassador Mpetjane Kgaogelo Lekgoro. At a meeting with South African Ambassador Mpetjane Kgaogelo Lekgoro, President Quang expressed his hope that the diplomat will make constructive contributions to the friendship between Vietnam and South Africa. The host said he believes that under the leadership of President Cyril Ramaphosa and the African National Congress (ANC), the South African Government and people will reap more achievements in national construction and development. Vietnam always treasures the traditional friendship, and the “partnership for cooperation and development” with South Africa, President Quang stressed.

The association has maintained meetings and friendship exchanges marking Vietnam-Spain diplomatic ties and called for social participation in people-to-people diplomatic activities. ASEAN countries then responded to a call for help from Việt Nam through the ASEAN Coordinating Centre for Humanitarian Assistance (AHA) and emergency medical teams (EMT) were sent to disaster-hit areas in Việt Nam with air cargo containing logistics and medical equipment. Both of the countries enjoy the harmony of different communities with unique cultures, said Azzeddine Farhane, Moroccan Ambassador to Việt Nam. Moroccan Communist Party sent Aomar to Việt Nam following President Hồ Chí Minh’s request with aim to support the then Việt Nam Communist Party during the resistance against French invaders. Canadian agricultural and seafood exports to Việt Nam doubled in 2017 to C$612 million, accounting for 58 per cent of the country’s total exports to Việt Nam.

Party chief attends inauguration of Vietnam Culture Centre in FranceThe new headquarters of the Vietnam Culture Centre in France was inaugurated in Paris on March 27 in the presence of General Secretary of the Communist Party of Vietnam (CPV) Central Committee Nguyen Phu Trong, who is on an official visit to the European country. Party General Secretary Nguyen Phu Trong (R) attends the inauguration of the Vietnam Culture Centre in France. Briefing the Vietnamese expatriates in France about the outcomes of his visit to France, Party General Secretary Trong said that it aims to enhance friendship and bilateral cooperation and deepen the bilateral strategic partnership between the two countries. The Party chief also informed the Vietnamese community about the nation’s achievements in socio-economic development, which are bringing a facelift to both urban and rural areas. The Party and Government always attach much importance to overseas Vietnamese, including those in France, considering them as an inseparable part of the Vietnamese nation, said Party General Secretary Trong.

Vietnam's GDP growth in Q1 highest over 10 yearsVietnam’s Gross Domestic Product (GDP) in the first quarter of 2018 is forecasted to exceed 7%, the highest figure recoded over the recent 10 years. 01/NQ-CP on major tasks and solutions guiding the implementation of the socio-economic development plan and State budget plan in 2018 and forecasts on economic development in 2018. Deputy Minister of Planning and Investment Le Quang Manh announced that the industry-construction was the main force for economic development, setting the growth of 11% in the first three months of 2018. The Foreign Direct Investment (FDI) capital realization obtained US$176.25 billion, equal to 55% of the valid capital. In the first quarter, the total newly-registered and additional FDI was US$5.8 billion while the realized FDI capital was US$3.88 billion, up 7.2%.

Vietnam's March CPI down by 0.27%The consumer price index (CPI) for March fell 0.27 per cent month-on-month, according to the General Statistics Office (GSO). The consumer price index (CPI) for March fell 0.27 per cent month-on-month. - Photo vov.vnAccording to GSO, the reduced CPI in March can be attributed to under-consumption due to lower demand after Tet (Vietnamese Lunar New year). Although the CPI in March was down 0.27 per cent compared to February, it increased by 2.66 per cent year-on-year and 0.97 per cent against the CPI in December. This made the CPI in the first quarter of this year rise by 2.82 per cent year-on-year, GSO said.

BTG Holdings called back to decide fate of $500 million project in VietnamSlovakia's BTG Holdings, the registered investor of a $500 million industrial park and related investment projects including a $116-million Budweiser brewery in the northern province of Hoa Binh, which is considered Asia’s biggest brewery, has disappeared since October 2017, leaving the project immobile. At that time, Zmajkovic said BTG Holdings’ investment projects within the Lac Thinh IP would draw the attention of other European investors who have expressed interest in building furniture, plastics, and ethanol factories in the park. BTG Holdings’ primary focus is on traditional energy, steam-gas cycles, combustion of biomass, small hydropower plants, and construction of breweries worldwide. Being the largest foreign-invested project in Hoa Binh at the time with a methodical investment plan, people expected to enjoy the plant’s products soon. According to the latest developments, the Hoa Binh Industrial Zones Management Authority has issued a document to call the investor back to resolve the long-delayed project.