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Sumitomo Mitsui-invested VPBank plans to merge with ailing lender

Hanoi-based VPBank, the biggest private lender by charter capital in Vietnam, will ask for shareholders’ approval to proceed with a plan to acquire a weak bank following a request by the State Bank of Vietnam (SBV).

Banking - Wed, April 24, 2024 | 11:18 am

Vietnam, Japan firms to build $1 bln urban area in Binh Duong province

Kim Oanh Group, a local real estate developer, and four Japanese partners will jointly develop the $1-billion The One World urban area in Vietnam’s southern province of Binh Duong.

Real Estate - Wed, April 17, 2024 | 5:23 pm

Int’l agencies outline transition pathways for Vietnam’s coal-fired power plants

International organizations and financiers have gathered in Hanoi to discuss transition options for a number of coal-fired power plants in Vietnam as the country is moving to meet its net-zero emissions target by 2050.

Energy - Fri, March 29, 2024 | 7:05 am

Sumitomo, Vingroup ink green transport development pact

Japanese keiretsu Sumitomo and taxi operator GSM JSC uder Vietnamese conglomerate Vingroup inked a green transportation development agreement on Tuesday to foster carbon neutrality in Vietnam.

Companies - Thu, March 14, 2024 | 3:02 pm

Sumitomo-invested $2.58 bln thermal power plant in central Vietnam inaugurated

Van Phong Power Company, a wholly-owned subsidiary of Japanese keiretsu Sumitomo, inaugurated the 1,432 MW Van Phong 1 coal-fired power plant in Vietnam’s central province of Khanh Hoa on Wednesday.

Energy - Thu, March 14, 2024 | 11:50 am

India’s Adani, Japan’s Sumitomo compete to build $2 bln seaport in central Vietnam

India’s Adani group and Japan’s Sumitomo have expressed their interest in building Danang’s VND48.3 trillion ($1.96 billion) Lien Chieu seaport project, the central city says.

Infrastructure - Fri, February 23, 2024 | 5:51 pm

Sumitomo divests entirely from Vietnam truck trader Truong Long Auto

Tokyo-headquartered Sumitomo Corporation has sold all 840,000 shares, or a 7% stake, in Truong Long Auto & Technology JSC, cutting its holding to zero after nearly 17 years as a shareholder.

Companies - Tue, January 30, 2024 | 10:38 am

Sumitomo-invested 1,432 MW thermal power plant approved for full operation

The 1,432 MW Van Phong 1 coal-fired power plant, invested by Japan’s Sumitomo Corporation, was approved for full commercial operation last week after Deputy Minister of Construction Bui Xuan Dung gave the green light for its second turbine.

Energy - Mon, January 1, 2024 | 11:24 am

PM Chinh’s Tokyo visit set to trigger new Japan investment wave into Vietnam

A large number of deals signed and high interest shown by Japanese businesses during Prime Minister Pham Minh Chinh’s recent trip to Japan is expected to trigger a new investment wave into Vietnam, said Deputy Minister of Foreign Affairs Do Hung Viet.

Economy - Wed, December 20, 2023 | 11:43 am