The signing ceremony, which was held at the Intercontinental Landmark Hotel in Hanoi on June 29, was attended by executives from both companies, including Samsung Engineering Executive Vice President GyuYeon Kang and DNP Water Chairman Ngo Duc Vu.

At the signing ceremony in Hanoi.

With this acquisition, Samsung Engineering now holds a 24% stake in DNP Water while DNP Holding holds a 53% stake and other stakeholders will hold 23%.

DNP Water is a private enterprise that focuses on local water supply businesses in Vietnam and is the largest private water treatment company in Vietnam in terms of treatment capacity.

Samsung Engineering has confidence that the company's rich EPC experience and global technology expertise in the water treatment field, as well as DNP Water’s experience and network in Vietnam’s water supply businesses, could create synergy in future business executions.

The stake in DNP Water enables Samsung Engineering to have access to Vietnam's water and sewage treatment businesses and therefore can expand businessesin this important market. Further, based on such regional competitiveness, Samsung Engineering plans to expand its business into Vietnam’s sewage treatment,and will further expand the model applied in Vietnam to neighbouring Asian countries.

A clean water plant in Bac Giang, one of the largest plants of its kind in Vietnam, implemented by DNP Water in the 2017-2018 period.

“Aligned with the recent global Environmental, Social, and Governance (ESG) trend, our environmental business is positioned as one of our company’s future growth engines,” said Executive Vice President GyuYeon Kang.

He added that “Samsung Engineering plans further to expedite and grow in the global environmental markets, such as in Asia, by setting an example with the successful execution of our environmental business in Vietnam.”

COP26 President hails Vietnam’s determination in transition to green, renewable energy

National Assembly (NA) Chairman Vuong Dinh Hue had a meeting in London on June 30 (local time) with UK Cabinet Office Minister and President for 26th United Nations Climate Change Conference (COP26) Alok Sharma who expressed impression at Vietnam’s determination in transition to green and renewable energy.

Regent Phu Quoc among world's 6 best seaside hotels: Independent

British newspaper The Independent has listed Regent Phu Quoc, opened to tourists in April, among the six best seaside hotels in the world for a summer retreat.

Hanoi, Hoi An travel experiences among Asia's 25 best in 2022

Hanoi motorbike tour and Hoi An cooking class have been selected by readers of US travel site Tripadvisor as two of the 25 best travel experiences in Asia.

Embassy takes actions to support victims of toxic gas leak in Jordan

The Vietnamese Embassy in Saudi Arabia and Jordan said it has asked competent agencies of Jordan, including the Ministry of Foreign Affairs, to coordinate in supporting Vietnamese citizens injured in a toxic gas leak at Jordan's Aqaba port on June 27, and handling relevant issues.

Finance ministry proposes tax cuts on gasoline

The Ministry of Finance has apprised the government of its plan to reduce special consumption tax and value-added tax on gasoline to bring its prices down.

Source: NDO