The Vietnam National Shipping Lines (Vinalines) will maintain its controlling stake in major ports and divest from others as it targets increased efficiency and profitability of core services.
National shipping giant Vinalines will maintain its controlling stake in major ports while divesting from smaller ones (Photo: shipspotting)
Hanoi (VNA) - The Vietnam National Shipping Lines (Vinalines) will maintainits controlling stake in major ports and divest from others as it targetsincreased efficiency and profitability of core services over the next fiveyears.
Under its five-year (2016-2020) investment anddevelopment plan approved by Prime Minister Nguyen Xuan Phuc, it will maintainits controlling stake in the nation’s three major ports in Hai Phong, Da Nangand HCM City.
The corporation currently holds a majority stakeof between 75 percent and 95 percent in the three ports.
It will divest and give up its controlling stakein several smaller ports.
Under the five-year plan, the corporation willconcentrate its investments in the Lach Huyen and Dinh Vu ports in Hai Phong city;the Hai Phong International Port; the Lien Chieu Port in Da Nang; and the NgheTinh Port in Ha Tinh province.
In the southern region, the corporation is tofocus efforts on beginning operations at the Sai Gon-Hiep Phuoc Port anddeveloping general ports in Hau Giang province and Can Tho city.
Meanwhile, it will restructure its bank debtsand prepare to list its shares on the national bourse.
It will strive to improve the efficiency andprofitability of its sea transport, ports and maritime services, sustain andincrease the State’s capital, and withdraw from ineffective businesses.
The exploitation and development of deepwaterports and transit ports will be improved to make it competitive in the region.
Vinalines plans to complete its equitisationprocess early next year.
The corporation’s revamp plans after years oflosses and soaring debts. In 2015, its debt was estimated at 11 trillion VND,or 504 million USD, owed to 24 lenders, nearly half of them foreign firms. Themajority of its domestic market share on import-export carriage has been takenover by foreign shipping businesses.
For 2017, Vinalines targets a revenue of around 15.3trillion VND (668.4 million USD), lower than last year, when it topped 16trillion VND.-VNA
The NhaTrang Port JSC has received a licence to revive Van Phong Port in the central province of Khanh Hoa, which stalled several years ago after the original investor ran out of funds.
The Da Nang Port JSC started the second phase of a project to expand Tien Sa Port on July 31, to make it a modern container port in the central region.
Prime Minister Nguyen Xuan Phuc toured Da Nang port – the most modern and important deepwater port in the central region, in Da Nang city on December 31.
The Vietnam National Shipping Lines (Vinalines) plans to develop a large-scale logistics centre in the capital as part of its development strategy for 2020, thoibaotaichinhvietnam.vn reports.
China’s Laoling city, in coordination with VINEXAD, hosted a series of events in Ho Chi Minh City from August 7-9 to seek trade and economic cooperation with Vietnam.
Vietnamese Ambassador to Cambodia Nguyen Minh Vu led a delegation to Mondulkiri, Ratanakiri, and Kratie provinces from August 5-8, aiming to deepen economic ties and support Vietnamese businesses operating in Cambodia’s northeastern region.
Party General Secretary To Lam’s upcoming state visit to the Republic of Korea (RoK) is expected to mark a new milestone in the bilateral relationship, creating fresh momentum for trade and investment cooperation between the two countries.
In the context of the growing global digital economy, digital transformation and the promotion of e-commerce are key drivers helping Vietnam boost integration, enhance competitiveness, and expand export markets, according to the Vietnam E-commerce and Digital Economy Agency
Tilapia is considered highly competitive in export markets thanks to its affordability, ease of processing, and appeal across both high-end and mass-market segments.
In the first seven months of the year, Phu Tho attracted an impressive 651.7 million USD in foreign direct investment, including 35 newly licensed projects totaling 119 million USD in registered capital and 45 existing projects with an additional capital of 533 million USD.
Under the agreements, VinEnergo will invest in, install, and operate 43 MWp of rooftop solar power capacity and 45 MWh of BESS capacity across the three plants.
Under a draft to amend and supplement the Government's Decree 125/2020/ND-CP on administrative sanctions for violations of tax and invoice regulations, the Ministry of Finance has proposed classifying the failure to issue invoices into five different levels. Infraction levels will correspond to fines of 1 million VND to 80 million VND, depending on the nature and number of invoicing violations.
A new airline developed and invested by Sun Group — has officially announced a strategic partnership with Amadeus IT Group (Amadeus), one of the world’s leading travel technology companies. This agreement not only lays the foundation for a modern digital infrastructure but also marks a pivotal step in SPA’s global expansion strategy, enabling the airline to access international distribution networks and reach customers worldwide.
Of the total, 107,700 were new firms, with combined registered capital of 928.4 trillion VND (35.4 billion USD), up 10.6% in number and 5.5% in capital compared with the same period last year.
Experts agree that a combination of technology, enforcement, education and cross-border cooperation is essential to protect copyrighted content in Vietnam’s growing digital ecosystem.
Poland is Vietnam’s largest export market in Central and Eastern Europe, with key staples including seafood, textiles, footwear, coffee, and cashew nuts.
Cashless payments are growing at an impressive rate, averaging 30–40% annually. Vietnam’s per capita cashless transaction volume now trails only China, with total value of 295.2 quadrillion VND (11.26 trillion USD), or 26 times of its GDP.
A draft resolution on piloting a digital asset and cryptocurrency market is being developed, aiming to create a broad-enough regulatory sandbox that enables investor participation and provides practical grounds for policy refinement in areas such as risk management and anti-money laundering.
National shipping giant Vinalines will maintain its controlling stake in major ports while divesting from smaller ones (Photo: shipspotting) 
