Corporate

Vinfast's IDG Sedan 02 at Paris Motor Show Recently, images of the first two models of Vinfast’s sedan and SUV designed by Pininfarina through a $5 million contract sharing intellectual property rights from BMW are now exhibited at the Paris Motor Show at the end of last week. With the logo V in front and the word Vinfast in the back, the IDG Sedan 02 design which won the public vote in the sedan line-up with 22,400 votes (36.2 per cent). The vote for SUVs was won by IDG SUV 02, with 13,853 votes (22.4 per cent). However, according to information leaked on social media, IDV SUV 03 will also be introduced at Paris Motor Show. The commercial versions of these cars will be sold in 2019. Vinfast IDG SUV 03 at Paris Motor Show At Vingroup’s annual general shareholders’ meeting (AGM) taking place on May 31, Vuong stated that the domestic market is the priority of Vinfast. Although Vietnam is a competitive market, he believes Vinfast’s chances of success … [Read more...] about First Vinfast cars to debut at Paris Motor Show

The SSIT port in Cai Mep welcomed its first container vessel on June 14. The MV MSC Rosaria is owned and operated by MSC Geneva, one of the world’s largest shipping lines. MSC will make regular calls at SSIT in the future. The joint-venture port’s management celebrated the occasion with the MSC Rosaria’s captain SSIT is a joint-venture port. SSA Marine, headquartered in the US, owns 50 per cent of the facility. Saigon Port controls 39 per cent and Vinalines Hanoi holds the remaining 11 per cent. SSIT was built to handle the largest container vessels in the world. These so-called Ultra-Large Container Vessels can carry up to 20,000 twenty-foot equivalent units (TEU) with a deadweight capacity of almost 200,000 tonnes. SSIT is a deep-water facility with a 16.5m draft alongside the berth. The terminal is equipped with the largest container shore cranes in Vietnam. The overall operational berth length exceeds 1km, of which 425m are dedicated to barge operations. … [Read more...] about First container vessel received at the SSIT Port

Vietjet continues to support Vu A Dinh Scholarship FundBy Le Anh Jay L Lingeswara (R), deputy director of the Commercial, Strategy and Planning Division of Vietjet and a representative of the Vu A Dinh Scholarship Fund pose for a photo with a symbolic check for VND700 million - PHOTO: LE ANH HCMC – Continuing with its calendar of social and charitable activities, Vietnam’s budget carrier Vietjet has donated air tickets worth VND700 million to the Vu A Dinh Scholarship Fund to offer financial support for academically gifted ethnic minority students across the country. This marks the fifth consecutive year that Vietjet has engaged in the fund’s activities, contributing billions of Vietnam dong and meaningful gifts for the youth over the years. The Vu A Dinh Scholarship Fund was established in 1999 under the initiative of the Young Pioneers Newspaper. The Fund has granted more than 80,000 scholarships to outstanding ethnic minority students over the past 19 … [Read more...] about Vietjet continues to support Vu A Dinh Scholarship Fund

Backed by ComfortDelGro Corporation Limited from Singapore, the merger between Vinataxi and Savico Taxi may help them overcome the competition with Grab and other ride-hailing applications. Vinataxi has pegged great expectations on the merger Most recently, the representative of Vietnam Taxi Company (Vinataxi) has announced the plan to merge with ComfortDelgro Savico Taxi—the taxi brand that had to suspend operations in March due to heavy competition. Vinataxi currently holds the third largest market share in the taxi sector in Ho Chi Minh City. Despite the firm claiming that its taxi business has not been much affected by Grab’s presence, its 2017 profit was only 10 per cent of the annual target. Notably, last year Vinataxi reported VND48.7 billion ($2.13 million) in revenue and VND1.2 billion ($52,553) in after-tax profit, equalling 49.8 and 9.87 per cent of the yearly targets. The representative of Vinataxi expects that the merger with Savico Taxi will help … [Read more...] about Vinataxi and Savico Taxi to merge to compete with Grab

The Vietnam Association of Seafood Producers and Exporters (VASEP) has proposed to the State to find solutions in dealing with trade barriers in the United States (US) market and promoting shrimp exports to this market. The Vietnam Association of Seafood Producers and Exporters (VASEP) has proposed to the State to find solutions in dealing with trade barriers in the United States (US) market and promoting shrimp exports to this market.-Photo nhipcaudautu.vn The proposal was under a series of suggestions submitted to the Ministry of Agriculture and Rural Development to ensure sustainable development of Vietnam’s fishery industry, including shrimp. The association suggested that the government should continue to pay more attention to diplomatic activities with the US to quickly remove trade barriers, especially anti-dumping tariffs for shrimp. According to local shrimp exporters, high anti-dumping duties and the Seafood Import Monitoring Programme (SIMP) are major … [Read more...] about VASEP urges boosting shrimp exports to US

Savico sets low targets By Hung Le A Ford auto agent, which was recently inaugurated by Savico - PHOTO: HUNG LE HCMC - Saigon General Service Corporation (Savico), which trades in the auto, motorcycle and real estate sectors, has set targets of VND14.2 trillion (US$622.4 million) in revenue and VND175 billion in pre-tax profits for this year, up a mere 3% and 1%, respectively, over last year, which shareholders said are modest. At Savico’s annual shareholder meeting on June 15, Savico general director Mai Viet Ha said the targets have been set based upon the corporation’s current business conditions. According to Savico, auto sales will decrease by 10% in the first half of the year, as local importers cannot receive vehicle type approval certificates from exporting countries, as required in Decree 116 on manufacturing, assembly and the import of autos. However, the market will return to its regular growth path during the second half of the year. This year, the … [Read more...] about Savico sets low targets

US trade groups and some large companies such as Boeing said on Friday (Jun 15) they were beginning to evaluate how new tariffs in the US-China trade spat could affect their operations. Boeing, others assessing impact of US-China tariffs, (AFP Photo/Jason Redmond) "We are assessing the impact these tariffs and any reciprocal action could have on our supply chain and commercial business," said Boeing spokesman Charles Bickers. The comments came in response to news that President Donald Trump would impose 25 per cent tariffs on tens of billions in Chinese imports, sparking immediate retaliation from Beijing. Boeing garnered about 12.8 per cent of its 2017 revenues from China and is frequently seen as among the more vulnerable US multinationals to an all-out trade war. "We will continue to engage with leaders in both countries to urge a productive dialogue to resolve trade differences, highlighting the mutual economic benefits of a strong and prosperous aerospace industry," … [Read more...] about Boeing, others assessing impact of US China tariffs

Vietnam Airlines JSC is planning to sell and leaseback one GEnx-1B74/75 spare propulsor engine (SPE) for its B787 fleet with the ToT (transfer of title) schedule in September 2018. Vietnam Airlines to sale and leaseback of one spare propulsor engine for B787 fleet If interestedre, please do not hesitate to contact us at the following address: Phan Diem Anh, Finance and accounting department Email: [email protected] Nguyen Quoc Hung Anh – Finance and accounting department Email: [email protected] By Ha Vy … [Read more...] about Vietnam Airlines to sale and leaseback of one spare propulsor engine for B787 fleet

Local startups can join MTA Vietnam 2018By Hung Le BT Tee (L), general manager of UBM Vietnam, addresses a press meeting announcing MTA Vietnam 2018 - PHOTO: LE HOANG HCMC – MTA Vietnam 2018, the largest international precision engineering, machine tools and metalworking exhibition in Vietnam, will kick off on July 3 at the Saigon Exhibition and Convention Center in HCMC’s District 7. Notably, the four-day event will host pavilions for local startups. BT Tee, general manager of UBM Vietnam and organizer of MTA Vietnam 2018, shared the news with reporters at a press meeting announcing the event on June 15 in the city. Local enterprises need nurturing and competitive opportunities to approach international customers by joining manufacturing supply chains to achieve sustainable development in the marketplace, remarked Tee. Therefore, UBM Vietnam and the Multi Engineering Solutions Laboratory will jointly organize a booth chain specially designed for Vietnamese … [Read more...] about Local startups can join MTA Vietnam 2018