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SABECO gives support to 600 F&B businesses affected by COVID-19

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The activity which is under the “Collecting Millions of Stars” programme has spread positive messages and words of encouragement from artists, influencers, social communities, students, and youth union members across the country. — Photo courtesy of SABECO

HÀ NỘI — The Central Committee of the HCM Communist Youth Union (HCYU) in co-operation with the Saigon Beer Alcohol Beverage Co-operation (SABECO) and its Bia Saigon brand on Thursday presented support packages worth VNĐ5 million in cash to 600 small food and beverage businesses that are facing difficulties due to the COVID-19 pandemic in HCM City.

The activity is under the “Collecting Millions of Stars” programme which was launched on August 28 to honour National Day, and encourage fellow citizens to expand the positive spirit of “Đi Lên Cùng Nhau” (Stronger Together).

After only nearly two weeks, there were more than 30,000 public posts on social media and Facebook that feature a creative star image, accompanied with the hashtags #Goptrieungoisao, # Đilencungnhau; @ Bia Saigon.

The support is expected to help small food and beverage businesses overcome the difficulties of the COVID-19 pandemic. — Photo courtesy of SABECO

The programme has attracted the attention and participation of many painters, artists, influencers, social communities, students, and youth union members across the country, with rich and meaningful content. Many positive messages and words of encouragement presented in various forms have been sent to the country’s frontline forces for their continuous efforts in the nationwide fight against the COVID-19 pandemic.

As part of the plan to promote community participation in the “Collecting Millions of Stars” programme, after the end of the programme on September 15, SABECO and its Bia Saigon brand commit to contributing VNĐ3 billion to the fund.

Accordingly, on September 23, HCYU and SABECO handed over the package to five businesses in HCM City. The remaining 595 businesses will be awarded by the HCYU via bank transfer due to the complicated development of the COVID-19 pandemic. The entire amount will be announced by the Central Committee of the HCM Communist Youth Union and Bia Saigon as soon as the transfer procedure is completed and the businesses receive the full amount of support.

A representative of SABECO and its Bia Saigon brand presents the supporting package to a business owner in the food and beverage industry in HCM CIty. — Photo courtesy of SABECO

Bennett Neo, general director of SABECO, said: “SABECO is a company with a long-standing history in Việt Nam, which owns Bia Saigon, a brand loved by generations of Vietnamese.

“Việt Nam is home to SABECO and Bia Saigon. When Việt Nam encounters difficulties and challenges, Bia Saigon is prepared to work together to support the country and our people through the most practical means.

“With the spirit of “Đi Lên Cùng Nhau”, we jointly co-operated with the Central Committee of the HCM Communist Youth Union to launch the programme to support food and beverage businesses facing difficulties in HCM City.

“We hope that this support together with the encouragement from thousands of people across the country through the “Collecting Millions of Stars” programme will give them more motivation to firmly overcome difficulties and be ready to return business as soon as HCM City returns to normal operations.”

Ngô Văn Cương, secretary of HCYU’s Central Committee, said: “One year since the outbreak of the COVID-19 in Việt Nam, the lives and activities of the people, as well as the production and business activities of enterprises and companies, have been turned upside down.

“Experiencing the pandemic, many industries have suffered heavy losses. Therefore, when entering the fourth wave of the pandemic with multiple strains and outbreaks, and many sources of infection in provinces and cities, not only large enterprises but also lots of small businesses are facing the risk of bankruptcy.

“To continue to maintain and develop the activities, small businesses are in dire need of help from the community. Therefore, this situation motivated the HCYU’s Central Committee to co-operate with SABECO and Bia Saigon to implement the programme “Collecting Millions of Stars” for small businesses in HCM City that are being severely affected by COVID-19. We believe that with the timely support, businesses will soon recover and stabilise in the “new normal” condition.”

In addition to this programme, the Central Committee of the HCM Communist Youth Union and SABECO have co-ordinated to deploy many meaningful and practical activities to support hospitals and frontline teams in the fight against the pandemic, and even health care workers and households severely affected by COVID-19. With continuous initiatives and efforts, SABECO and Bia Saigon continue to affirm their commitment to contribute to the country and the people of Việt Nam to promote development in the spirit of Stronger Together.

As a company with a history of 146 years of development in Việt Nam, SABECO is always committed to performing the role of a responsible corporate citizen, especially in the key periods of the country. SABECO is one of the largest taxpayers to the country’s State budget. SABECO’s business activities also contribute to creating stable jobs for more than 12,000 employees in the same ecosystem.

Over the years, in addition to business activities, SABECO has always actively contributed to the community and sustainable development projects to bring positive values ​​to the country and Vietnamese people. SABECO has implemented programmes to support the country’s frontline staff in COVID-19 prevention. In addition, the “SABECO Cares” programme has also been implemented to ensure their employees’ safety and health. —

Source: https://vietnamnews.vn/economy/1036858/sabeco-gives-support-to-600-f-b-businesses-affected-by-covid-19.html

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PM orders close coordination to remove obstables to property market

Prime Minister Pham Minh Chinh has just signed a document requesting more efforts to promote the development of and remove obstacles to the real estate market.

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He asked ministries, agencies and People’s Committees of provinces and centrally-run cities to strictly follow the Government’s resolution dated March 11, 2023 on several measures to solve difficulties for and promote the safe, healthy and sustainable development of the market.

The Ministry of Construction (MoC), the Ministry of Finance (MoF), and the State Bank of Vietnam (SBV) must coordinate closely with each other and with relevant agencies to help businesses overcome difficulties and make the market revive.

Real estate enterprises must adjust the product structure and market segments as well as offer more reasonable prices; pay special attention to the development of social housing and houses for workers that are suitable to people’s income. Competent authorities need to review housing and real estate projects to work with enterprises on measures to handle legal problems, especially in projects with corporate bonds and bank loans, and capital mobilised from buyers, the Government leader stressed.

He also urged the MoC to soon complete a project on building at least one million social housing apartments for low-income earners and workers in industrial parks in the 2021-2030 period.

The MoF was asked to carry out harmonious, reasonable and effective measures to support enterprises to restructure bond debts, interest rates, payment terms and conditions in accordance with regulations.

PM Chinh also urged the central bank to soon implement the credit programme worth around 120 trillion VND (5.1 billion USD) to assist commercial banks in providing perferential loans for investors and buyers of projects building social housing and houses for workers, and reconstructing old apartment buildings.

Local People’s Committees were required to soon approve master plans, as well as land use plans and housing development plans and programmes for five years and annually; and organise meetings with each enterprise to help them deal with difficulties.

Source: Nhân Dân

Source: https://e.nhipcaudautu.vn/real-estate/pm-orders-close-coordination-to-remove-obstables-to-property-market-3351578/

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Masan Group draws down first tranche of its $650 mln syndicated loan

Masan Group has announced the successful disbursement of its $375 million, the underwritten tranche of its $650 million syndicated loan signed in February 2023.

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The Vietnamese conglomerate aims to fully utilize the 2023 Syndicated Loan via a greenshoe option of $275 million later in the year. The transaction was arranged and underwritten by BNP Paribas, Credit Suisse, HSBC, Standard Chartered Bank, and United Overseas Bank.

Despite recent volatility in the global banking market, Masan was able to fully draw down the underwritten portion of the 2023 Syndicated Loan, ensuring a healthy financial profile. The loan is priced at 3.5% over the U.S Dollar Secured Overnight Financing Rate, or approximately 8.0% per annum.

With a 5-year tenor, the 2023 Syndicated Loan will extend Masan’s debt maturity profile and strengthen Masan’s liquidity ratios. As interest rates decline and the capital market stabilizes, management will continue to optimize Masan’s balance sheet, reduce interest expense, and deleverage via strategic corporate actions.

In a challenging macro environment, the ability to generate stable cash flows from the manufacturing and retailing consumer staple products (such as groceries, instant noodles, seasonings, etc.) businesses and proven track record of accessing multiple capital markets will allow the Company to win market share and invest in future growth.

With its cash position, Masan is well positioned to continue investing in new innovations as well as expanding the consumer-retail platform while maintaining a healthy balance sheet. 

Source: https://e.nhipcaudautu.vn/companies/masan-group-draws-down-first-tranche-of-its-650-mln-syndicated-loan-3351607/

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VSIP joins hands with 9 Vietnamese provinces to develop smart IPs

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Vietnam – Singapore Industrial Park J.V. Co. (VSIP) on Saturday signed memoranda of understanding (MOU) with nine Vietnamese provinces to develop smart and sustainable industrial parks (IPs).

VSIP is a joint venture between Becamex IDC Corporation, under the People’s Committee of Binh Duong, just outside Ho Chi Minh City, and Sembcorp Development Ltd., a wholly-owned subsidiary of Singapore’s Sembcorp Industries, a leading energy and urban solution provider.

The signing ceremony was part of the ‘Binh Duong: Initiation – Connection – New Development’ program, attended by Deputy Prime Minister Le Minh Khai, leaders of ministries, agencies and localities, and hundreds of investors.

It was also an expansion of a broader MOU between Becamex and Sembcorp Development inked during Vietnamese Prime Minister Pham Minh Chinh’s state visit to Singapore early last month.

Smart and sustainable IPs will be considered in nine provinces, including Binh Phuoc, Tay Ninh, Binh Thuan, Khanh Hoa, Thua Thien-Hue, Ha Tinh, Thanh Hoa, Thai Binh, and Nam Dinh, based on the VSIP model in Binh Duong.

Deputy PM Khai hailed the green industrial park model, the association of industrial development with urban areas and services, and the synchronicity of traffic and social infrastructure in Binh Duong Province.

This helps Binh Duong, together with Ho Chi Minh City and Dong Nai and Ba Ria – Vung Tau Provinces, become key pillars of the southern key economic zone and contribute significantly to the state budget and Vietnam’s development.

The deputy prime minister asked the nine provinces to learn from Binh Duong’s experience in developing Vietnam-Singapore Industrial Parks in the coming time, especially in site clearance to prevent complaints and lawsuits and ensure benefits for enterprises, the state, and local residents.

Vo Van Minh, chairman of the Binh Duong People’s Committee, said the province would cooperate closely with the nine provinces and accompany investors and enterprises to develop industrial park projects soon.

They will jointly mull over the conversion from IPs in association with urban areas and services to smart service urban areas, enhance the application of science and technology to increase the added values of products, and bring practical benefits to enterprises and residents.

Leaders of Binh Duong Province and nine other provinces and Singaporean partners sign memoranda of understanding to develop more VSIPs in Vietnam. Photo: Ba Son / Tuoi Tre

Leaders of Binh Duong Province and nine other provinces and Singaporean partners sign memoranda of understanding to develop more VSIPs in Vietnam. Photo: Ba Son / Tuoi Tre

Earlier on the same day, Deputy PM Khai and his governmental delegation visited the VSIP 1 in Thuan An City, Binh Duong Province. This is the first VSIP which was developed in 1996 and covers an area of 500 hectares.

VSIP last month obtained approval from the Vietnamese government to set up its second IP in the north-central province of Nghe An, or its 13th IP in Vietnam.

Among the 12 operating VSIPs, three are located in Binh Duong and the remaining facilities are in Hai Phong, Hai Duong, Bac Ninh, Quang Ngai, and Can Tho, among others.

These industrial parks, with a total area of more than 10,000 hectares, have attracted about US$18.4 billion in investment from 882 investors from 30 countries and territories, and created jobs for around 288,000 workers.

Vietnamese Deputy Prime Minister Le Minh Khai (first row, L) and delegates listen to an introduction of the first VSIP in Thuan An City, Binh Duong Province on March 25, 2023. Photo: Q.T. / Tuoi Tre

Vietnamese Deputy Prime Minister Le Minh Khai (first row, L) and delegates listen to an introduction on the first VSIP in Thuan An City, Binh Duong Province on March 25, 2023. Photo: Q.T. / Tuoi Tre

The Binh Duong People’s Committee on Saturday also handed over investment certificates to enterprises.

In the year to March 15, the province attracted $437 million in foreign direct investment, raising the total foreign investment so far in the province to $39.7 billion, poured into nearly 4,100 projects.

The province also concluded cooperation agreements with large domestic firms, such as Deo Ca, Sungroup and FPT, to develop infrastructure, hospitality tourism, and digital transformation.

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Vietnam – Singapore Industrial Park J.V. Co. (VSIP) on Saturday signed memoranda of understanding (MOU) with nine Vietnamese provinces to develop smart and sustainable industrial parks (IPs).

VSIP is a joint venture between Becamex IDC Corporation, under the People’s Committee of Binh Duong, just outside Ho Chi Minh City, and Sembcorp Development Ltd., a wholly-owned subsidiary of Singapore’s Sembcorp Industries, a leading energy and urban solution provider.

The signing ceremony was part of the ‘Binh Duong: Initiation – Connection – New Development’ program, attended by Deputy Prime Minister Le Minh Khai, leaders of ministries, agencies and localities, and hundreds of investors.

It was also an expansion of a broader MOU between Becamex and Sembcorp Development inked during Vietnamese Prime Minister Pham Minh Chinh’s state visit to Singapore early last month.

Smart and sustainable IPs will be considered in nine provinces, including Binh Phuoc, Tay Ninh, Binh Thuan, Khanh Hoa, Thua Thien-Hue, Ha Tinh, Thanh Hoa, Thai Binh, and Nam Dinh, based on the VSIP model in Binh Duong.

Deputy PM Khai hailed the green industrial park model, the association of industrial development with urban areas and services, and the synchronicity of traffic and social infrastructure in Binh Duong Province.

This helps Binh Duong, together with Ho Chi Minh City and Dong Nai and Ba Ria – Vung Tau Provinces, become key pillars of the southern key economic zone and contribute significantly to the state budget and Vietnam’s development.

The deputy prime minister asked the nine provinces to learn from Binh Duong’s experience in developing Vietnam-Singapore Industrial Parks in the coming time, especially in site clearance to prevent complaints and lawsuits and ensure benefits for enterprises, the state, and local residents.

Vo Van Minh, chairman of the Binh Duong People’s Committee, said the province would cooperate closely with the nine provinces and accompany investors and enterprises to develop industrial park projects soon.

They will jointly mull over the conversion from IPs in association with urban areas and services to smart service urban areas, enhance the application of science and technology to increase the added values of products, and bring practical benefits to enterprises and residents.

Leaders of Binh Duong Province and nine other provinces and Singaporean partners sign memoranda of understanding to develop more VSIPs in Vietnam. Photo: Ba Son / Tuoi Tre

Leaders of Binh Duong Province and nine other provinces and Singaporean partners sign memoranda of understanding to develop more VSIPs in Vietnam. Photo: Ba Son / Tuoi Tre

Earlier on the same day, Deputy PM Khai and his governmental delegation visited the VSIP 1 in Thuan An City, Binh Duong Province. This is the first VSIP which was developed in 1996 and covers an area of 500 hectares.

VSIP last month obtained approval from the Vietnamese government to set up its second IP in the north-central province of Nghe An, or its 13th IP in Vietnam.

Among the 12 operating VSIPs, three are located in Binh Duong and the remaining facilities are in Hai Phong, Hai Duong, Bac Ninh, Quang Ngai, and Can Tho, among others.

These industrial parks, with a total area of more than 10,000 hectares, have attracted about US$18.4 billion in investment from 882 investors from 30 countries and territories, and created jobs for around 288,000 workers.

Vietnamese Deputy Prime Minister Le Minh Khai (first row, L) and delegates listen to an introduction of the first VSIP in Thuan An City, Binh Duong Province on March 25, 2023. Photo: Q.T. / Tuoi Tre

Vietnamese Deputy Prime Minister Le Minh Khai (first row, L) and delegates listen to an introduction on the first VSIP in Thuan An City, Binh Duong Province on March 25, 2023. Photo: Q.T. / Tuoi Tre

The Binh Duong People’s Committee on Saturday also handed over investment certificates to enterprises.

In the year to March 15, the province attracted $437 million in foreign direct investment, raising the total foreign investment so far in the province to $39.7 billion, poured into nearly 4,100 projects.

The province also concluded cooperation agreements with large domestic firms, such as Deo Ca, Sungroup and FPT, to develop infrastructure, hospitality tourism, and digital transformation.

Like us on Facebook or  follow us on Twitter to get the latest news about Vietnam!

Source: https://tuoitrenews.vn/news/business/20230327/vsip-joins-hands-with-9-vietnamese-provinces-to-develop-smart-ips/72269.html

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