Prime Minister Nguyen Xuan Phuc and his Australian counterpart Scott Morrison chaired a meeting on exchanging and promoting co-operation opportunities between Vietnamese and Australian businesses in Ha Noi on Friday. Australian Prime Minister Scott Morrison, second right, with business representatives at a meeting in Ha Noi. - VNA/VNS Photo Van Diep The meeting was attended by Chairman of the Vietnamese Entrepreneurs Association (VEAS) in Sydney Nguyen Ba Luan along with experts and business people from both Vietnam and Australia. Luan, who is also the Chairman of TMS Group, said Vietnamese businesses in Australia are inheriting knowledge, experience, advanced management and modern technology to develop through international-level projects which have great socio-economic significance. “We hope the governments of Vietnam and Australia to create a more favourable investment environment to encourage us to develop,” Luan said. Since Vietnam and Australia enhanced … [Read more...] about Vietnam and Australia boost economic co operation
Hoang Anh Gia Lai Agricultural JSC (HAGL Agrico – HNG) announced the resolution of its Board of Directors to transfer its entire 99.875 per cent in Dong Penh Co., Ltd. to THADI Agriculture Farming Processing & Distribution JSC. HAGL Agrico is steadily selling its subsidiaries to THACO At the same time, HNG also approved the purchase and sale of the capital contribution of Tay Nguyen Dairy Cattle JSC (a HNG subsidiary) in Dong Penh to THADI. The transferred capital accounts for 0.083 per cent of Dong Penh's capital with a value of VND400 million ($17,400). Previously in June, HNG also transferred 100 per cent of its capital at Indochina Rubber Investment and Development Co., Ltd. to THADI. According to the consolidated business results of the second quarter of 2019, HNG reported a loss of VND638.5 billion ($27.76 million), while profit in the same period last year was nearly VND32 billion ($1.39 million). In the first six months of 2019, HNG lost a total of VND737.5 … [Read more...] about HAGL Agrico continues selling subsidiary
Vietnam Lottery Company (Vietlott) has just published its financial report for the first half of 2019, with a net revenue of only VND1.17 trillion ($50.87 million), down nearly 40 per cent on-year, with gross profit reaching only VND68 billion ($2.96 million), less than half of what it made in 2018. Vietlott has seen a large fallback since 2018 Vietlott recorded a pre-tax profit of nearly VND80 billion ($3.48 million) in the first half of 2019, down 70 per cent compared to the VND262 billion ($11.39 million) last year. Vietlott explained that the reason is that in the first half of last year the VND300 billion Jackpot prize of Power 6/55 attracted a great many customers, while this year the product continuously found winners and the Jackpot prize (which grows each time no winner is found) did not grow high enough to entice players. Previously, Vietlott reported a profit of over VND270 billion ($11.74 million) in 2018, increasing by 25 per cent against 2017 mainly … [Read more...] about Is Vietlott still “hot”?
Sanofi Vietnam is the latest group to meet the conditions as set out in Decree 54 The Vietnamese pharmaceutical market was aroused recently when French-invested Sanofi Vietnam received the certificate of eligibility for a pharmacy business from the Ministry of Health (MoH) to directly import drugs to the country. “With the certificate, Sanofi Vietnam is among the multi-national corporations (MNCs) to get such a ticket in line with Decree No.54/2017/ND-CP dated 2017, guiding the implementation of the Law on Pharmacy 2016,” a senior MoH official told VIR. “To get the certificate, Sanofi Vietnam and others have to meet the conditions regulated in Decree 54. Accordingly, the most important thing is to have qualified warehouses, or contracts with local Vietnamese companies to hire such warehouses,” he said. Sanofi Vietnam has imported the first batch of vaccines of meningococcal meningitis – a serious disease in Vietnam. The global healthcare leader, … [Read more...] about Direct imports for pharma groups
In the first half of the year, the profit of Vinafood 2 remained negative, and inventories were 83,313 tonnes of rice short. A single subsidiary of Vinafood 2 somehow misplaced an astounding 83,000 tonnes of rice, demonstrating gross mismanagement behind the corporation's losses Vietnam Southern Food Corporation (Vinafood 2, UPCoM: VSF) has just announced its consolidated financial statement for the second quarter of 2019. Accordingly, as of June 30, 2019, the total assets of Vinafood 2 rose by 7.6 per cent to VND9.571 trillion ($416.13 million), including increases of 20 per cent in short-term assets to VND4.867 trillion ($211.6 million) and 80 per cent cash to VND1.1 trillion ($47.83 million), mainly in bank deposits. During the quarter, the inventory of Vinafood 2 reduced by 7.6 per cent but remained at a high level of VND2.604 trillion ($113.22 million), including products, goods, materials, and goods sold. Notably, the inventory of the corporation was 83,313 tonnes of … [Read more...] about Vinafood 2 maintains losses in first half