Economy and commerce
Thailand's TCC acquires Metro Vietnam for $704 million
Thai consumer goods group TCC Holding Co. Ltd has completed its acquisition of the Vietnamese operations of Metro for 655 million euros (US$704.1 million). TCC’s subsidiary TCC Land International Pte. Ltd. takes over Metro’s 19 stores and related real estate portfolio in Vietnam, the German company ...
Trade-friendly Vietnam now offers far more than just low-cost labor
Vietnam is seen by many foreign businesses as being a very attractive place to invest in and do business for many reasons, Francois Guibert, Chairman of the EU-ASEAN Business Council says. “Vietnam has a lot more to offer investors than just low-cost labor,” Guibert told Thanh Nien ...
Two Malaysian firms plan agarwood venture in Laos
Two Malaysian companies plan to invest US$18 million (RM79 million) for the inoculation of agarwood in Laos that is expected to generate US$200 million in three years. Agriculture transaction company Aseagate (M) Sdn Bhd, forestry management company Richwood Capital Sdn Bhd, together with non-governmental organisation Global ...
Auditor proposes tax exemption review
The State Audit Organisation (SAO) has proposed that the Ministry of Finance’s Department of Customs review tax exemptions and provide detailed accounts of the implemented financial measures. The proposal was included in the audit report, as part of the final implementation report of the 2013-2014 state ...
Downward spiral persists in exports of Lao coffee amid world price slump
The volume of coffee exports from Laos has decreased continually over the past couple of years due to a slump in coffee prices on the world market. Total coffee exports in 2014 reached 26,000 tonnes at an estimated value of US$60 million (Bt16.6 billion), which fell ...
Thailand plans 2m more tonnes of G-to-G rice sales
The Thai government aims to sell over 2 million tonnes of rice this year on a government-to-government (G-to-G) basis. But it admits a renewed attempt to sell rice to Iran may hit a snag because of escalating political conflict in the Middle East. Chutima Bunyapraphasara, Commerce Ministry permanent ...
Somkid: Exports take back seat to local work
The Thai government is focused on stimulating the domestic economy and promoting community-based enterprises in the first half of the year as the global economic recovery appears set to remain sluggish. Deputy Prime Minister Somkid Jatusripitak said on 5 January at a cabinet meeting that in light ...
Vietnam beer sales up 10 pct amid rising competition
Vietnam’s beer production grew 10 percent in 2015 to 3.4 billion liters, with a new report saying the pace has slowed down from a decade ago due to competition with foreign brands. Saigon Beer, Alcohol and Beverage Company (Sabeco), the biggest player in the market, produced ...
Thailand Post keen to cross borders
Thailand Post is launching a major expansion of its cross-border trading and e-commerce services for Indochina to become a leading regional player by year-end. The state postal enterprise hopes parcel delivery service crossing the Cambodian and Laotian borders to reach Chinese consumers has a bright future, ...
Facing budget hurdle, Vietnam turns to private investors for transport projects
Vietnamese Prime Minister Nguyen Tan Dung has ordered the transport ministry to create more favorable policies to attract private investment into public infrastructure projects, saying the government’s financial resources are limited. The state budget cannot be spent extravagantly, and sovereign bonds cannot be issued excessively or ...
