AEC Feed

Mekong Capital announced on August 4 that its Mekong Enterprise Fund III has invested in ABA Corporation, a provider of temperature-controlled transport.
While it did not divulge details of the deal, the fund said that it typically targets investments of US$6-15 million (Bt209 m to 552m) and makes both minority and buy-out investments.
It said it is its second investment after buying into the Wrap and Roll restaurant chain.
ABA was founded in 2008 and entered the cold storage business in 2016 through the acquisition of a cold storage facility in Hanoi with around 12,000 pallet positions.
The company is now moving towards providing an integrated cold chain logistics service in the Vietnamese market.
Its current business covers three key areas: temperature-controlled transportation, delivery and distribution services.
It serves some of the largest modern retail and consumer goods companies in Vietnam like Big C, VinMart, METRO, Unilever, and BEL. — Viet Nam News

Foreign-owned Woori Bank to open in Vietnam
The State Bank of Viet Nam (SBV) on Tuesday approved in principle South Korean Woori Bank's plan to set up a wholly foreign owned bank in Vietnam.
Under Document 5829/NHNN-TTGSNH, SBV also approved a draft list of Woori Bank Viet Nam's board of members, members of the supervisory board and general director. For an official licence, Woori Bank was asked by the SBV to complete legal dossiers in accordance with the current regulations and submit them to the SBV governor for approval.
Once it receives the licence to operate, Woori Bank - South Korea's largest bank in terms of consolidated assets as of the end of March - expects to be a vehicle that will help to expand South Korean investment in Vietnam, where it has been limited to operating two branches.
South Korea is now the largest foreign investor in Vietnam, with Samsung Electronics Co Ltd and LG Electronics Inc bringing large investments to turn it |into a Southeast Asian production hub.| — Viet Nam News

Southern Vietnam province to boost ports, farm, hi-tech
The southern Ba Ria-Vung Tau province in Vietnam will focus its investment on the hi-tech industry and agriculture, port logistics and high-quality tourism.
Hi-tech industrial projects will prioritise energy-saving and eco-friendly products of high added value and competitiveness, while those in the port logistics sector will include facilities in support of the Cai Mep – Thi Vai international terminal.
High-quality tourism projects will focus on building seaside resorts and developing ecological and spiritual tourism along with meetings, incentives, conferences and exhibitions (MICE). At a local press conference on Wednesday, deputy chairman of the provincial People's Committee Nguyen Thanh Long said the province had prepared a list of sectors eligible for investment incentives.
Ba Ria-Vung Tau pledged all possible support for long-term business operations in the province, he said.
An investment promotion conference is slated for August 10 to introduce the province's potential, incentives and infrastructure to diplomatic agencies, investment and trade promotion organisations, and overseas and domestic investors. — Viet Nam News

Hanoi offers incentives for waste-treatment
Hanoi is offering incentives to enterprises, particularly those from Japan, to apply advanced technologies in waste treatment in the capital, municipal People's Committee Chairman Nguyen Duc Chung said. At a reception held on Wednesday for Nakamuara Tetsunosuke, president of the Viet Nam–Japan Friendship Association in Japan's Osaka Province, Chung said Hanoi was seeking urgent solutions for waste and wastewater treatment, one of the key tasks in the next five years.
The incentives include a 50 per cent discount in land rental fees, an 11-year exemption from corporate income tax, along with other support for Japanese workers in the city, according to Chung.
Hanoi had developed a relatively complete traffic infrastructure including a highway network, and also Noi Bai international airport, facilitating its connection with other provinces nationwide and countries in the world, Chung said.
The capital city also called for investment in transport development, including eight urban railway networks, belt-ring roads and bridges, as well as in clean agricultural product processing and tourism, he said. — Viet Nam News