577 Investment Corporation has halted all business plans in order to focus on overcoming the consequences of the Carina Plaza fire and compensate victims. 577 Investment Corporation will spend a total of $2.64 million to overcome the fire damage On April 24, at the annual general shareholders’ meeting of 577 Investment Corporation (code: NBB), Doan Tuong Trieu, chairman of the corporation, expressed his concern for the victims of the fire and pleaded for shareholders to be sympathetic. He also affirmed that the fire has caused significant damage to the developer Hung Thanh Co., Ltd. and its parent company 577 Investment Corporation. He said that the corporation has halted all business plans to focus on fixing the building and spent VND21 billion ($0.93 million) compensating the families of victims, support residents to rent temporary accommodations, and cover vehicles damage. The corporation has spent over VND11.1 billion ($0.5 million) repairing 41 cars and 363 … [Read more...] about 577 Investment Corporation halts all business plans after Carina Plaza
Corporate
Scroll Corporation joins Vietnamese e commerce through Cat Dong
Receiving the support of Scroll Corporation from Japan may help Cat Dong to increase its e-commerce market share in an e-commerce market that has great potential but is a difficult market to crack open with many players running losses and being forced to withdraw. Japanese e-commerce company Scroll Corporation joins Vietnamese market According to information published on Cat Dong’s website, on April 2 e-commerce firm Scroll completed the purchase of a 26.9 per cent stake in the company. The deal value was not disclosed. Besides, on April 16 the two parties signed a business partnership agreement to co-operate with each other. According to the agreement, they will take utilise all their management resources and strengths in various fields ranging from sales to e-commerce solutions and travel operations to increase their market share in Vietnam. Notably, Cat Dong will sell Japanese products provided by Scroll on its websites like CungMua.com, NhomMua.com, and Shipto.vn. … [Read more...] about Scroll Corporation joins Vietnamese e commerce through Cat Dong
Annual awards recognise listed firms for corporate governance, success
Viet Nam News HCM CITY — The Việt Nam Listed Company Awards (VLCA) kicked off its 2018 season in HCM City yesterday. The awards, given jointly by the HCM City Stock Exchange (HOSE), the Hà Nội Stock Exchange (HNX) and Việt Nam Investment Review magazine, and sponsored by Dragon Capital Group, are an extension of the Việt Nam Annual Awards (ARA), an event that has accompanied the growth of Việt Nam’s stock market and listed companies for a decade now. Besides the annual reporting awards and the sustainability reporting awards, this year’s contest will also conduct an in-depth review of corporate governance standards at listed companies. The aim of the review is to encourage listed firms to adopt international standards of governance and promote sustainability. A corporate governance set of standards developed by the VLCA’s organising committee is based on the standards of Organisation for Economic … [Read more...] about Annual awards recognise listed firms for corporate governance, success
PM promises 5 7 per cent corporate income tax cuts at GMS Summit
Prime Minister Nguyen Xuan Phuc at the sixth GMS Summit “We have been working to meet our commitments to protect intellectual property rights, innovative ideas, and the inventions of startups. We will continue to boost tax policy reforms and corporate income tax will be decreased to 15-17 per cent from the current 20-22 per cent,” stated Prime Minister Nguyen Xuan Phuc at the sixth Greater Mekong Subregion (GMS) Summit. At the summit, the PM said that in 2017, Vietnam continued to maintain one of Asia’s highest economic growths, with inflation controlled at 3.5 per cent. The country’s interest and exchange rates remained stable, trade turnover reached a record $425 billion, and foreign reserves have exceeded $60 billion. According to the World Bank, Vietnam’s Ease of Doing Business Index last year jumped 14 places to stand 68th among 190 economies. The World Economic Forum (WEF) placed Vietnam’s Global Competitiveness Index (GCI) at 55th out of … [Read more...] about PM promises 5 7 per cent corporate income tax cuts at GMS Summit
Mitsubishi Corporation aims for multi sectoral expansion in Vietnam
Japan's Mitsubishi Corporation is looking to expand investment in transport infrastructure, airport, seaport, energy, and renewable energy sectors in Vietnam. Mitsubishi Corporation has ambition to expand its operation in Vietnam This was announced by Takehiko Kakiuchi, chairman cum general director of Mitsubishi Corporation, at the meeting with Prime Minister Nguyen Xuan Phuc on March 26. At the meeting, the prime minister proposed Mitsubishi to invest in the above sectors and Takehiko Kakiuchi agreed, saying that expansion in these directions would be suitable with the firm’s long-term development plan in Vietnam. Besides, Mitsubishi also eyes the manufacturing sector and the automobile industry in Vietnam. Signing the MoU is an important initiative demonstrating Mitsubishi Motors' strong commitment to accelerating the adoption of sustainable automotive technologies across rapidly developing markets such as Vietnam. In the latest movement, in a meeting between … [Read more...] about Mitsubishi Corporation aims for multi sectoral expansion in Vietnam