Masan Group receives license to invest in Singapore

Friday, 10/02/2023 17:15
The Sherpa Company Limited, a subsidiary of Masan Group Corporation (Masan), received a licence to invest in Singapore at a ceremony on February 10, reported Vietnam News Agency.
At the license handover ceremony (Photo: VNA)

The investment is worth up to 105 million USD for 25% of share ownership of Trust IQ Pte. Ltd. (TS), a Singapore-based tech company, equivalent to 9,388,756 shares.

The project is part of Masan's strategic goal by 2025 to create a Consumer - Retail - Technology ecosystem.

TS operates primarily in software development, technology and applications on a global scale, which includes the development of comprehensive, accurate credit risk assessment methods based on AI technology and computer science.

Therefore, the investment in TS will accelerate Masan's application of artificial intelligence in retail (Retail AI), and in consumption (Consumer AI).

Specifically, the two sides will work together to build a platform of Retail AI, and Consumer AI; apply and develop AI and machine learning (ML) technologies into the consumer sector, integrate offline to online contributing to an optimal O2O experience and minimise consumption costs for the Vietnamese.

They will also issue credit cards for mass consumers without requiring proof of income. WinCommerce (the operator of WinMart/WinMart /WIN retail chain) with a high-tech platform from TS will cooperate with domestic financial partners to drive new credit cards usage, towards the goal of universalization of credit access for Vietnamese people.

With the integration of technology pieces from TS into its consumer-retail platform, Masan Group aims to become the leading enterprise meeting daily consumer needs of nearly 100 million Vietnamese consumers on both offline and online platforms.

Vietnam to have 30 airports by 2030: draft planning

Vietnam will have a total of 30 airports by 2030 including 14 serving international flights, according to a draft plan that the Civil Aviation Authority of Vietnam has submitted to the Ministry of Transport recently, reported Vietnam News Agency.

Photo for illustration

The international airports are Van Don, Cat Bi, Noi Bai, Tho Xuan, Vinh, Phu Bai, Da Nang, Chu Lai, Cam Ranh, Lien Khuong, Long Thanh, Tan Son Nhat, Can Tho, and Phu Quoc.

The 14 airports serving only domestic flights are Lai Chau, Dien Bien, Sa Pa, Na San, Dong Hoi, Quang Tri, Phu Cat, Tuy Hoa, Pleiku, Buon Ma Thuot, Phan Thiet, Rach Gia, Ca Mau, and Con Dao.

Two military airports – Thanh Son and Bien Hoa – will be converted to use for both military and civil purposes.

The draft plan still keeps the Hai Phong International Airport project which was approved in the Prime Minister’s Decision No 640/QD-TTg dated April 28, 2011.

By 2050, Vietnam expects to have 33 airports including 14 international airports - Van Don, Hai Phong, Noi Bai, Tho Xuan, Vinh, Phu Bai, Da Nang, Chu Lai, Cam Ranh, Lien Khuong, Long Thanh, Tan Son Nhat, Can Tho and Phu Quoc. There will also be 19 domestic airports, including Lai Chau, Dien Bien, Sa Pa, Cao Bang, Na San, Cat Bi, Dong Hoi, Quang Tri, Phu Cat, Tuy Hoa, Pleiku, Buon Ma Thuot, Phan Thiet, Rach Gia, Ca Mau, Con Dao, Bien Hoa, Thanh Son and the second airport in the southeast, south region of Hanoi.

CAAV will continue to study, survey, and evaluate the possibility of converting some existing military airports into dual-use facilities including Yen Bai airport in Yen Bai province, and Gia Lam airport in Hanoi. The conversion will be reported to the Prime Minister for consideration when all necessary conditions are met.

Planes are seen at Noi Bai International Airport in Ha Noi. (Photo: VNA)

In particular, this draft plan reflects CAAV’s openness to the new civil airports.

The agency proposes to continue studying, surveying and evaluating the possibility of building airports in provinces that are located in key positions in defense and security and with potential for tourism development but have no military airport. These include Ha Giang, Tuyen Quang, Ha Tinh, Kon Tum, Quang Ngai, Binh Thuan, Khanh Hoa, Dak Nong and Tay Ninh.

The Transport Engineering Design Incorporated (TEDI) – consultant for the national airport development planning - proposes that the capacity of Long Thanh airport by 2030 is 25 million passengers per year. The capacity of Long Thanh Airport would then increase to 100 million passengers by 2050. The Tan Son Nhat airport is to have a maximum capacity of 50 million passengers yearly.

Bien Hoa airport is expected to handle 5 million passengers yearly by 2030, and up to 10 million passengers by 2050.

Ho Chi Minh City’s power sector named among world’s 50 smart grid index

The Ho Chi Minh City Power Corporation (EVNHCMC) was ranked 47 among 94 power companies in the world in smart grid construction and 2nd in Southeast Asia by Singapore’s SP Group.

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A ceremony has been held to announce EVNHCMC entering the Top 50 of the smart grid rankings in the world.

According to EVNHCMC, in 2022, 94 power companies in the world participated in scoring and ranking smart grids according to SP Group’s SGI (Smart Grid Index) index, an increase of 8 power companies compared to the previous year 0.

EVNHCMC General Director Nguyen Van Thanh said that according to SP Group’s smart grid assessment results in 2022, EVNHCMC has achieved 71.4 points with outstanding indicators of monitoring and control.

The results saw an increase of 3.6 points and 6 places compared to the evaluation table in 2021 (67.9 points, ranked 53 out of 86).

SP Group’s smart grid index is measured by seven dimensions, namely monitoring and control, supply reliability, green energy, data analytics, distributed energy resources integration, security, and customer empowerment and satisfaction.

Vietnam’s exports to Americas exceed 8 billion USD in first month of 2023

Enterprises boost exports of goods in the first month of the year. (Photo: VNA)

Vietnam’s exports to the American region reached 8.21 billion USD while imports were valued at 1.64 billion USD in January 2023, according to statistics of the Ministry of Industry and Trade.

With this, trade surplus with the market reached about 6.56 billion USD this month.

The US is still Vietnam’s top trading partner in this region. Statistics show that, in January, the country’s exports to the US reached 7.2 billion USD and import turnover was about 860 million USD. It was followed by Canada with about 360 million USD worth of export and 45 million USD worth of import in the first month of the year.

A representative of the Ministry of Industry and Trade’s Europe-America Market Department said that in 2022, import and export turnover between Vietnam and the region recorded very positive growth, estimated at 153. 9 billion USD, up 10.7% compared to 2021. In which, Vietnam’s exports reached 128.2 billion USD, up 12.4%, and imports were valued at 25.7 billion USD, up 3%.

Notably, trade with all major markets in the region recorded stable growth, such as: the US (11%), Brazil (6.6%), Canada (16.5%), Mexico (7.1%), Chile (9%) and Argentina (8.3%).

For the US market, total bilateral trade turnover in 2022 reached approximately 123.86 billion USD, up 11% from the previous year, of which Vietnam’s export value to the market was 109.4 billion USD, up 13.6%.

In addition, thanks to positive effects of free trade agreements, such as the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and the Vietnam-Chile Agreement (VCFTA), import-export turnover between Vietnam and the group of 4 countries Canada, Mexico, Chile and Peru in 2022 reached 15.2 billion USD, up 10.9% compared to 2021. Of which, Vietnam’s exports to this group of countries posted 13. 1 billion USD, up 8.7%; imports  were valued at 2.1 billion USD, up 26.9%./.