HCM City Draws Up Reservoir Plan to Fight Flooding News on 2 November 2016

Daily News - Saigon/HCMC: Nov. 2, 2016

1) HCM City draws up reservoir plan to fight flooding

According to the HCMC Center for Anti-flooding Program Operation, the city has identified 103 places for water reservoirs to be built by 2020.

Nguyen Ngoc, the director of the center, said in the immediate time, water reservoirs will be built first in three places – Bau Cat in Tan Binh district, Go Dua in Thu Duc district and Khanh Hoi in district 4 with total investment capital of VND1.3 trillion.

Of these, Bau Cat Reservoir will be underground and with capacity of 10,000 cubic meters, it will help ease flooding for an area of 20 hectares…

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2) Viglacera files to list on the ha noi stock exchange

Viglacera Corporation, Viet Nam’s largest producer of construction ceramics and tiles, has filed an application to list over 65 million shares worth VND650 billion (US$29 million) on the Ha Noi Stock Exchange.

This share quantity represents a 21.18-per-cent of the company’s charter capital.

The remaining stocks—equivalent to nearly 242 million shares, or 78.82 per cent—are owned by the Ministry of Construction.

Currently, 307 million of the company’s shares are trading on the Unlisted Public Company Market (UPCoM) under the management…

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3) ANZ not backing out of retail and wealth businesses in Vietnam

ANZ is not selling its retail and wealth-management businesses in Vietnam, according to the bank’s branch in Hanoi.

In a move to shift its focus in the Asian region to institutional banking, ANZ has sold its wealth and retail operations in Singapore, Hong Kong, mainland China, Taiwan and Indonesia for around $80 million to Singapore’s DBS Group Holdings Ltd, Thomson Reuters reported on Monday.

The news has raised questions regarding ANZ’s operations in Vietnam, and whether or not the Australian bank is looking to offload its retail assets in the Southeast Asian country as well.

Thomson Reuters cited chief executive Shayne Elliott as saying that the bank might review options for its similar assets in the Philippines and Vietnam.

Clarifying the above remark…

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4) VN photo wins int’l photography awards

A photo of a woman making fishing nets in Phan Rang City, Vietnam has come first in Open Colour category in Siena International Photography Awards 2016…

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