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Good News for Vietnam Rubber Group (GVR): Approval Granted for Bac Dong Phu Industrial Park Phase 2

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Deputy Prime Minister Tran Hong Ha signed Decision No. 145/QD-TTg on January 16, 2025, approving the investment policy for the construction and infrastructure business project of Bac Dong Phu Industrial Park Phase 2 in Binh Phuoc Province. The project investor is Bac Dong Phu Industrial Park JSC, a member of Vietnam Rubber Group (stock code GVR).

The two major shareholders of Bac Dong Phu Industrial Park are Dong Phu Rubber JSC (stock code DPR) with a 51% ownership stake and Nam Tan Uyen Industrial Park JSC (stock code NTC) with a 40% ownership stake.

The industrial real estate sector is expected to become a new growth driver for Vietnam Rubber Group.

The industrial real estate sector is expected to become a new growth driver for Vietnam Rubber Group.

The Bac Dong Phu Industrial Park Phase 2 project will be developed in Tan Phu Town, Dong Phu District, and Tien Hung Commune, Dong Xoai City, Binh Phuoc Province, with a total land area of 317 hectares. The total investment for the project is VND 1,360 billion, including VND 204 billion in investor equity.

This is the second large-scale industrial park project approved for Vietnam Rubber Group in recent weeks. On December 27, 2024, the expansion of Rach Bap Industrial Park (360 hectares) in Binh Duong Province, led by An Dien Industry JSC (a subsidiary of Vietnam Rubber Group holding a 92.67% stake), was also approved for development.

Bac Dong Phu Industrial Park Phase 2 is a highly anticipated project for Vietnam Rubber Group, Dong Phu Rubber, and Nam Tan Uyen Industrial Park amidst the limited availability of commercial industrial land within their portfolios.

One of the bottlenecks delaying the approval of Bac Dong Phu Industrial Park Phase 2 was the near-exceedance of Binh Phuoc Province’s allocated industrial land quota, as stipulated in Decision No. 326/QD-TTg issued on March 9, 2022, by the Prime Minister. This decision set national land use allocation targets for the 2021–2030 period, with a vision to 2050, and a five-year land use plan for 2021–2025.

The price movements and trading volume of Vietnam Rubber Group's GVR stock from the beginning of 2024 to now. (Source: TradingView)

The price movements and trading volume of Vietnam Rubber Group’s GVR stock from the beginning of 2024 to now. (Source: TradingView)

However, in March 2024, the Prime Minister issued Decision No. 227/QD-TTg, adjusting some land use targets until 2025, as allocated in Decision No. 326/QD-TTg. Consequently, Binh Phuoc Province gained an additional 828 hectares of industrial land for new projects by 2025, including Bac Dong Phu Industrial Park Phase 2.

With 317 hectares of industrial land added to the portfolio, Bac Dong Phu Industrial Park Phase 2 is expected to drive new growth for Dong Phu Rubber and Vietnam Rubber Group.

In terms of business performance, Vietnam Rubber Group estimated its consolidated revenue for 2024 to reach VND 26,307 billion, achieving 105.2% of the annual target and up 6.5% compared to 2023. Consolidated after-tax profit is projected to be VND 3,746 billion, reaching 109% of the annual target and increasing by 11% compared to 2023.

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Ministry of Finance and World Bank discuss new ODA-funded projects

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Minister of Finance Nguyen Van Thang met with Mariam Sherman, World Bank division director for Vietnam, Cambodia and Laos in Hanoi on March 21 to discuss upcoming projects using official development assistance (ODA).

Ministry of Finance and World Bank discuss new ODA-funded projects

At the meeting, Minister Thang explained that the amended Law on Bidding had been in effect since January 15, decentralising the approval process to cut down the time needed for the disbursement of loans.

Based on the decree guiding the implementation of the amended law issued in February, the Ministry of Finance (MoF) submitted a decision on the bidding of Binh Duong wastewater treatment scheme and the southern waterway corridor development to the government, which issued a resolution approving the loans on March 19. The resolutions have since been submitted to the president for approval.

“The MoF will conduct meetings with localities to remove obstacles for ODA projects, including those of the World Bank. This will help accelerate progress on projects set to be disbursed this year and beyond,” said the minister.

Mariam Sherman thanked Thang for these solutions and proposed some initiatives to remove obstacles for projects that need to be implemented soon, such as the renewable energy enhanced transmission grid, and projects that are currently being implemented and negotiated.

“The aim of Vietnam and the World Bank is to ensure that the schedule and objectives of this capital mobilisation drive are met,” said Sherman.

According to Sherman, the combined value of the World Bank’s list of projects is about $11.2 billion, targeting key areas such as growth innovation, economic restructuring, energy conversion, and climate change response.

“To achieve the high growth rate set out by the government and National Assembly, foreign loans, including those from the World Bank, will play a vital role,” said Minister Thang.

The minister shared the government’s viewpoint that between 2026 and 2030, ODA is expected to pour into key projects such as expressways, railways, high-speed railways, energy infrastructure, climate change resilience, and digital infrastructure.

“With the government’s objective of high economic growth over the next few years, cooperation between Vietnam and the World Bank will be extensive,” he said.

Minister Thang expressed his appreciation for Sherman’s contributions to accelerating the progress of ODA-funded ventures. He also requested the World Bank to consider further simplifying and harmonising procedures, as well as consider finding ways to reduce interest rates for high-priority projects.

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Cross-border drug trafficking ring busted in Quang Binh province

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More than 25 kilogrammes of various narcotics has been seized in the lastest drug crime crackdown in Quang Binh province.

Cross-border drug trafficking ring busted in Quang Binh province
More than 25 kilogrammes of various narcotics are seized in the crackdown. (Photo courtesy of the police)

Quang Binh – Police of the central province of Quang Binh said on March 20 that the force, in coordination with authorities of Laos’ Khammouane province, has successfully dismantled a major cross-border drug trafficking network, seizing more than 25 kilogrammes of various narcotics.

The crackdown took place on March 12 when Dinh Hong Thuan, born in 1971 and from Quang Binh’s Minh Hoa district, and Nguyen Thanh Phuong, born in 1993 and from the province’s Dong Hoi city, were caught red-handed illegally transporting drugs.

Authorities confisticated some 20 kilogrammes of drugs, including 60,000 amphetamine pills, eight kilogrammes of ketamine, four kilogrammes of crystal methamphetamine, and two kilogrammes of heroin.

Following further investigation, the law enforcement force arrested Pham Le Tuan Anh, born in 1995 and from Dong Hoi city, for drug trafficking. In this additional arrest, around 5 more kilogrammes of narcotics was seized, including over 25,000 amphetamine pills, 1.5 kilogrammes of crystal methamphetamine and ketamine, and 1 kilogramme of heroin.

The local police charged the suspects and is expanding investigation into the case.

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Microsoft continues AI infrastructure deployment in Malaysia

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Microsoft is monitoring developments related to US export restrictions on semiconductor technology, but its operations in Malaysia have not been affected, according to an executive of the US tech giant.

Microsoft continues AI infrastructure deployment in Malaysia
The Microsoft logo in London, the UK (Illustrative photo: Xinhua/VNA)

Kuala Lumpur – US tech giant Microsoft said its artificial intelligence (AI) infrastructure rollout in Malaysia remains on track despite concerns over potential disruptions in the supply of advanced AI chips.

The company is monitoring developments related to US export restrictions on semiconductor technology, but that its operations in Malaysia have not been affected, Microsoft Malaysia managing director Laurence Si told a press conference on March 20.

Microsoft’s investments in Malaysia, including the upcoming cloud region launch, are proceeding as planned. It is committed to deploying AI services and digital infrastructure on schedule, ensuring Malaysia benefits from the latest technological advancements, he added.

Concerns over AI chip supply have grown following Microsoft’s announcement of its in-house Azure Cobalt 100 chip, designed to enhance AI capabilities.

Asked whether Malaysia’s cloud region would use the latest AI chips, Si said Microsoft is assessing market demand.

If there is a market for it, it will be incorporated into the framework and timeline for Malaysia, he said, adding that there is already industry interest in AI-optimised chipsets like Cobalt

In a related news, Prime Minister Anwar Ibrahim has emphasised the importance of developing local talent in blockchain technology to ensure that investments in the sector benefit Malaysians.

The matter was discussed during a courtesy visit on March 20 from representatives of Klickl, a company operating finance and assets within the digital and blockchain ecosystem, he said in a Facebook post.

Anwar noted that Malaysia has significant potential in the field and can leverage blockchain technology across various sectors. Beyond finance and digital assets, he said the technology could also be utilised in government services and the halal industry.

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