Vietnam: Police Arrested Vinalines’ Executives
May 19, 2012 (Vietnamica) — Police has detained Mai Van Phuc (former CEO, currently Deputy Director of Transportation Department, Ministry of Transport), Tran Huu Chieu (vice CEO of Vinalines, deputy Secretary of Communist Party Committee at Vinalines). The Police also tried but failed to arrest Duong Chi Dung, former chairman of Vinalines and currently head of Maritime Department, MoT. Dung did not appear in both his office and home (Lao dong, May 19).
Vietnam Plans for Revamping National Fleet of ShipsMay 7, 2012 (Vietnamica) — Vietnam Ministry of Transport proposed its “industrialization and modernization of Vietnam’s transportation” in which it would invest VND 100 trillion ($4.8 billion) for the state-owned Vinalines.
May 2, 2012 (Vietnamica) — Much of the focus on the Asian presence in Latin America is given to China. Vietnam – a market-oriented economy which grew at nearly 6 percent in 2011 – is quietly courting Latin American countries (Americas Society, May 4). The SEA country expects to increase its exports to the region three-fold to US$6 billion by 2015 and gain access to the region’s valuable commodity markets.
VimpelCom Exits Gtel Mobile; Beeline to Leave VietnamApril 23, 2012 (Vietnamica) — VimpelCom has sold all 49 percent equity stake in Gtel Mobile to the joint-venture’s Vietnamese partner. The state-run, limited company Gtel has paid US$49 million in cash. The deal is completing. And Gtel Mobile will stop using Beeline brand after six months (VnExpress, Apr 23).
April 9, 2012 (Vietnamica) — The national flag carrier Vietnam Airlines (VNA) expects to raise US$200 million from IPO in 2013. VNA will offer the public up to 30 percent of shares. The State will hold the remaining stake equity (VNS, Apr 9).
March 26, 2012 (Vietnamica) – A project of “National Coffee Cluster” has been submitted to the Government by the privately-run Trung Nguyen Coffee. The new agro-industrial prototype is expected to increase the country’s coffee export revenue to US$20 billion, ten times higher than current level. In addition, sustained growth of coffee industry would create five to six million jobs. To this end, a role model will be carried out at EaTul commune, Cu M’Gar district, Dak Lak province this year.
