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PRESS DIGEST - Vietnam - Aug 5
August 5, 2013 / 2:02 AM / 4 years ago

PRESS DIGEST - Vietnam - Aug 5

HANOI, Aug 5 (Reuters) - These are some of the leading stories in the official Vietnamese press on Monday. Reuters has not verified these stories and does not vouch for their accuracy.

VIETNAM NEWS

-- The 5 percent hike in electricity tariff last Thursday has raised worries about a possible increase in the costs of goods and services.

VIETNAM INVESTMENT REVIEW

-- India’s Tata group will source coal from Indonesia or Australia to feed its 1,200-megawatt Long Phu 2 power plant in the southern province of Soc Trang, a Tata official said. The plant is due to become operational in 2018-2019.

TUOI TRE

-- National carrier Vietnam Airlines will make an initial public offering late in the second quarter of 2014, expecting to raise $200 million by issuing of 383 million shares, its chief executive officer said.

THANH NIEN

-- Starbucks Corp opened its second store in Vietnam, which is also its second in Ho Chi Minh City, aimed at office-goers working in the city downtown, said the company’s director.

-- Sugar producers should be allowed to export surplus raw sweetener to recover funds for investment in the next crushing season, the agriculture ministry said in a proposal to the trade ministry. Vietnam is estimated to produce 1.5 million tonnes of sugar in the 2012/2013 season, 120,000 tonnes of which would be in surplus, the agriculture ministry said.

THOI BAO KINH TE VIETNAM

-- The central bank has asked 14 commercial banks allowed to lend money for stockpiling summer-autumn rice this year to extend the loan maturity to Aug. 15, its governor said.

DAU TU

-- Vietnam will only allow a total of 150 rice export companies to operate and any firm failing to export 10,000 tonnes annually for two consecutive years would have its export licence revoked, the government said in an instruction to the trade ministry on restructuring Vietnam’s rice export firms.

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