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Duc Viet Food CEO’s secret to turning VND2 billion into VND700 billion

Duc Viet Food CEO’s secret to turning VND2 billion into VND700 billion

Starting with an initial investment of just VND2 billion ($88,106), after 16 years of operation, Duc Viet Food JSC, known by its familiar brand name Duc Viet Sausage, was successfully acquired by Daesang Group of South Korea for a total purchase price of VND700 billion ($30.84 million). Hua Xuan Sinh, vice chairman of the Board of Directors cum general director of Duc Viet since establishment, has shared three tips that helped the company achieve miracle growth. Starting with an initial investment of just VND2 billion ($88,106), after 16 years of operation, Duc Viet Food JSC, known by its familiar brand name Duc Viet Sausage, was successfully acquired by foreign investors for a total purchase price of VND700 billion ($30.84 million). Hua Xuan Sinh, vice chairman of the Board of Directors cum general director of Duc Viet since establishment, has shared three tips that helped the company achieve miracle growth.  

VN Pharma trial: going into appeal

VN Pharma trial: going into appeal

The trial of former VN Pharma officials for smuggling cancer medicine and falsifying documents has come to a conclusion, but it has only produced more questions, with so many unclear issues arising during the proceedings.

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NA panel to supervise management of foreign loans

NA panel to supervise management of foreign loans

A delegation of lawmakers will supervise the implementation of laws and policies on the management and use of foreign loans.

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Bibica becomes official PAN Food subsidiary

Bibica becomes official PAN Food subsidiary

PAN Food Manufacturing JSC (PAN Food) successfully acquired more than 50 per cent of Bibica Corporation (Bibica)’s stakes, overtaking Lotte Confectionery Co., Ltd. (Lotte) as the biggest shareholder and turning Bibica into a subsidiary.

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Grab and Uber fined, Mai Linh and Vinasun losing value

Grab and Uber fined, Mai Linh and Vinasun losing value

From early 2017, nearly 100 Grab and Uber drivers have been financially penalised for nearly VND350 million ($15,400) due to lack of listed identification information, such as name and phone number of the companies. At the same time, both Grab and Uber still enjoy substantial growth in customer base, while traditional taxi operators Mai Linh and Vinasun’s stocks are losing their shine.

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Mobile World and Tran Anh confirm acquisition

Mobile World and Tran Anh confirm acquisition

In early August, rumours took flight that Mobile World Investment Corporation (MWG) will acquire Tran Anh Digital World JSC (Tran Anh), and have now came true as both parties confirmed the acquisition plan, which is still waiting for the approval of shareholders.

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PM orders prompt settlement of admin procedures in September

PM orders prompt settlement of admin procedures in September

Prime Minister Nguyen Xuan Phuc urged ministries, departments and localities to concentrate on addressing administrative procedure problems, especially removing tax and fee burdens imposed on businesses, while chairing the government’s regular monthly meeting in Hanoi on August 30.

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Rent-A-Port a possible strategic investor for Vinalines

Rent-A-Port a possible strategic investor for Vinalines

Under the memorandum of understanding (MoU) signed this morning with Vietnam National Shipping Lines (Vinalines), Rent-A-Port N.V. may purchase 10 per cent of Vinalines' stake and may also have other possible cooperation in the projects of a terminal and a logistics facility in Lach Huyen and a general cargo terminal in Dinh Vu in the northern port city of Haiphong.

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$9 billion Nghi Son refinery and petrochemical complex about to start operating

$9 billion Nghi Son refinery and petrochemical complex about to start operating

Nghi Son refinery and petrochemical complex’s preparations for its debut in the fourth quarter of 2017 have been completed, so the complex is in a rush to finish all minor remaining tasks for a perfect launch on time.

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CAPT taxation changes afoot

CAPT taxation changes afoot

Industry experts voiced their opinions on Vietnam’s proposal to revise its capital assignment profits tax, which is expected to affect cross-border mergers and acquisitions.

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PM pledges good conditions for ExxonMobil

PM pledges good conditions for ExxonMobil

The Government of Viet Nam will create favourable conditions for ExxonMobil to implement projects in the country, Prime Minister Nguyen Xuan Phuc has said.The Government of Viet Nam will create favourable conditions for ExxonMobil to implement projects in the country, Prime Minister Nguyen Xuan Phuc has said.

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Vietnam needs to step up food safety for agricultural products

Vietnam needs to step up food safety for agricultural products

Vietnamese food and seafood products play a vital role in the global supply chain, but the country needs to improve its food safety system to enhance export opportunities to major markets, especially the US.

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KPMG to update South Korean enterprises on latest policy and regulatory information

KPMG to update South Korean enterprises on latest policy and regulatory information

KPMG—one of the Big4 and the leading auditing and professional services firm—will host a seminar to update Korean businesses on the necessary information on transfer pricing, customs, and corporate tax in Vietnam.

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Dinh Vu polyester plant teetering on brink of bankruptcy

Dinh Vu polyester plant teetering on brink of bankruptcy

The failing state-funded Dinh Vu polyester plant invested by PetroVietnam Petrochemical and Textile Fiber JSC (PVTex), a joint venture of PetroVietnam and Vietnam National Textile and Garment Group (Vinatex), will be pushed to the brink of bankruptcy if foreign investors refuse to co-operate with PVTEX to revise the plant’s operations.

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MoIT stake sale’s main lure: VEAM

MoIT stake sale’s main lure: VEAM

The Ministry of Industry and Trade has announced plans to divest from six firms under its management from now until 2020, most notably, in this year’s sell-off of Vietnam Engine and Agricultural Machinery Corporation stock.

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State-owned aviation firms soon for heavy divestment

State-owned aviation firms soon for heavy divestment

Amid growing interest among foreign investors in the aviation market, Vietnam Airports Corporation and Vietnam Airlines – the two most influential corporations in the aviation sector – will continue to divest large state stakes to fund future development plans.

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