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Vietnam plans to export 7mln tonnes rice this year, up nearly 10%

The world’s third-largest rice exporter was projected to ship 7 million tonnes of rice in 2020, Reuters cited chief of the government office Mai Tien Dung during a press conference on Tuesday.

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In just 5 months, Dabaco beats 2020 whole-year profit target by 30%

Hanoi-based Dabaco Group has reported its highest ever five-month after-tax profit at nearly VND600 billion ($25.7 million), 30% higher than the yearly target, the company reported.

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Agribank’s 2019 profit reported at about $600mln, up 92% from 2018

The lender ranked second in 2019 profit among Vietnam’s banking system with VND14 trillion ($600 million), just behind Vietcombank, according to the bank’s financial report.

News

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Vietnam's most gravely-ill COVID-19 patient on path to recovery

Vietnam’s most serious coronavirus patient, the British pilot who works for Vietnam Airlines, has started to recover from the illness and may no longer require a lung transplant.

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Vietnam plans to export 7mln tonnes rice this year, up nearly 10%

The world’s third-largest rice exporter was projected to ship 7 million tonnes of rice in 2020, Reuters cited chief of the government office Mai Tien Dung during a press conference on Tuesday.

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Vietnam eyes power plants sales to fund new projects, ease debt

Vietnam plans to sell some operational state-owned power plants to foreign investors to raise funds for urgently needed new projects and ease pressure on public debt, local media reported on Tuesday.

Economy

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US values Vietnam partnership for supply chain links

The U.S. regards Vietnam a priority partner in upcoming Mekong Subregion projects, including development of strategic products within its supply chain, officials say.

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PM targets powerful, prosperous status for southern key economic region by 2035

Prime Minister Nguyen Xuan Phuc on May 30 requested the southern key economic region to strive to become a powerful and prosperous region by 2035, ten years ahead of the deadline.

Companies

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Telecom giant Viettel gets approval to establish subsidiaries in six countries

The Military Industry and Telecommunications Group (known as Viettel) got approval from the government to set up subsidiaries in the remaining six of the 10 countries where it operates without a subsidiary.

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Vietnam ministry rejects rumor of repurchasing Sabeco shares from ThaiBev

Vietnam has no intention to repurchase shares in the country’s largest beer maker Sabeco, Dau Tu newspaper cited Deputy Minister of Industry and Trade Do Thang Hai.

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Vietnam’s automaker THACO ships 36 semi-trailers to US

Vietnamese auto firm THACO shipped 36 semi-trailers manufactured in its plant in Chu Lai Open Economic Zone to the US, one of the world's most demanding markets for quality, the company said.

Market

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ACB seeks approval to issue int’l bonds, move share listing to Saigon bourse

Vietnamese private lender is seeking approval to issue international bonds equivalent to 10% of its total customer deposit, according to documents prepared for annual shareholders’ meeting.

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Korean chaebol SK Group buys nearly 25% drug maker Imexpharm’s stake

The third-largest conglomerate in South Korea has purchased 24.9% stake, or 12.3 million shares of Imexpharm, according to data from Vietnam Securities Depository.

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Vietnam raises fuel prices by nearly VND1,000 per litre

Vietnam adjusted up fuel prices a second consecutive time after using the price stabilization fund, according to the Ministry of Industry and Trade and Finance Ministry.

Real Estate

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Ho Chi Minh City to build additional 650 hectares public parks in next 10 years

The government of Ho Chi Minh City plans to build an additional 650 hectares public parks in the next 10 years, offering at least one square metre of public parks per resident

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Ho Chi Minh City to complete action plan for Eastern City soon

City's leader urged the Department of Planning and Architecture to complete a draft action plan for the project's construction and send reports to the municipal People’s Committee.

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Japan’s JUTEC seeks Vietnam expansion by teaming up with a local real estate firm

Japanese building product distributor JUTEC Holdings Corporation is seeking to team up with a Vietnamese firm to establish a housing services joint venture in Vietnam.

Life & Art

World

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China Halts Some U.S. Farm Imports, Threatening Trade Deal

Chinese government told state-run agricultural companies to pause purchases of some American farm goods including soybeans as Beijing evaluates the ongoing escalation of tensions with the U.S. over Hong Kong.

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Apple Reopening Flagship Tokyo Stores as Japan Eases Restriction

Apple Inc. is set to reopen its biggest stores in Japan from midday on Wednesday, bringing its physical retail network back online in one of its biggest markets.

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ByteDance reportedly hit $3b in profit last year

China’s ByteDance, the parent company of video-sharing app TikTok, has recorded a net profit of more than US$3 billion last year, people familiar with the matter told Bloomberg.