Vietnam Business News

Megacities and challenges of 8216;rethinking construction8217;
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

Urban development has brought multiple challenges in terms of infrastructure and the quality of life, especially in megacities. This is why we should promptly rethink and do something new to move toward more sustainable growth. Discussions about changes and contributions from enterprises active in the construction industry in the advent of new technology took centre [8230;]

Vietcombank enters the derivatives market
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

The State Bank had just approved the Joint Stock Commercial Bank for Foreign Trade of Vietnam (VietcombankCode: VCB) of Vietnam (SBV) to supplement the operation of 8216;Supplying derivative products with commodity prices8217; to the Establishment and Operation License of the bank complying with the Decision No. 2447/QD-NHNN of SBV, effective from November 25, 2019. According [8230;]

Business Briefs 05 December 2019
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

Hung Vuong Joint Stock Corporation (HVG) has approved the sale of five million treasury shares between December 11 and January 9 via order-matching and put-through deals, with each share priced at not lower than VND4,000. In related news, the firm8217;s vice chair Ha Viet Thang sold over 259,000 HVG shares from November 1 to 30 [8230;]

Bamboo Airways turns profit within one year of operations
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

Despite entering the aviation market only 11 months ago and suffering heavy losses, Bamboo Airways has announced that it will earn a profit in the first quarter of 2020 when its fleet is expanded to 30 aircraft and it launches air routes to Europe. Bamboo Airways vice President Dang Tat Thang on December 3 noted [8230;]

Efficient resource utilisation may help Vietnam GDP grow 9-10pct
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

The public capital must be allocated based on market principles, said an expert. More efficient utilisation of resources would help Vietnam achieve annual GDP growth of 9 10%, equivalent to that of Japan and South Korea during their economic booming periods, according to Nguyen Dinh Cung, former director of the Central Institute for Economic Management [8230;]

PVI, Swiss Life Network sign comprehensive cooperation agreement
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

PetroVietnam Insurance Corporation (PVI) and Swiss Life Network on December 2 signed an agreement on comprehensive cooperation. Under the agreement, PVI will become a partner of Swiss Life Network in the Pool Network the leading platform for health insurance solutions for staff of multinational groups. According to Michael Hansen, director general of Swiss Life Network, [8230;]

Vietnam tourism earns two world8217;s leading titles for first time
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

Vietnam has won two categories at the World Travel Award (WTA) held in Muscat, Oman. At the WTA awards ceremony, Vietnam was awarded two titles in the categories of World8217;s Leading Heritage Destination 2019 and World8217;s Best Golf Destination 2019 for the first time. According to the WTA, the recognition of Vietnam as the world8217;s [8230;]

Vietnam mulls $194 million expressway in Mekong Delta province
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

Vietnam is considering a VND4.5 trillion ($194.2 million) expressway in Dong Thap Province that will connect with other Mekong Delta localities. The four-lane, 17-metre wide expressway, running 26 kilometers southwest from Thap Muoi District till Cao Lanh Bridge, will allow speeds of up to 80 kilometers per hour, according to the Ministry of Transport. It [8230;]

Bac Giang seeks to boost export of Yen The hill chicken
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

A workshop to seek measures to boost the production and export of the Yen The hill chicken products, and orientations for enhancing production of farm products and tourism development, has been organised by the Yen The district People8217;s Committee, northern Bac Giang province. Addressing the event, Secretary of the district Party Committee and Chair of [8230;]

Over 1.12 billion USD mobilised from G-bond auctions on HNX
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

The Hanoi Stock Exchange (HNX) held 25 auctions in November, mobilising over 26 trillion VND (1.12 billion USD) worth of G-bonds, up 29 percent from the previous month. Of the amount, 13.7 trillion VND was raised by the State Treasury and the remainder by the Vietnam Development Bank. The interest rates of successfully-bid bonds issued [8230;]

Japan enterprises want to take part in Vietnam8217;s privatisation process
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

Japanese enterprises want to be updated on legal procedures so that they could play a more active role in the process of state-owned enterprises privatisation in Vietnam. Japanese enterprises are willing to take part in the restructuring and privatisation processes of Vietnam8217;s state-owned enterprises (SOEs), according to Yoshiki Onoi, chair of Japan8217;s International Friendship Exchange [8230;]

Trade deals trigger foreign investments in Vietnam8217;s food sector
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

According to forecasts of BMI Research, Vietnam8217;s food industry is expected to achieve annual growth of 10.9 percent in 2015-2020. Numerous international players, especially those from countries that Vietnam signed free trade agreements with, have been seizing the opportunity to enter the Vietnamese food market to take advantage of the deals. Keith Colwell, Canadian Nova [8230;]

Dong Nai records fast FDI disbursement
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

The southern province of Dong Nai has seen swift disbursement of foreign direct investment (FDI) which surpassed the province8217;s plan, said local officials. In the first 10 months of 2019, more than 1 billion USD of FDI capital was disbursed, mostly in industrial production. The province has set the target for the entire year at [8230;]

Remittances start to flow sharply
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

When the Lunar New Year comes, overseas Vietnamese will promote remittance transfer to families and friends in Vietnam, helping this cash flow increase sharply. This year, the remittances to Vietnam still mainly come from the US, Europe, Australia, Taiwan, South Korea, Japan, etc. As one of the localities attracting the largest remittances to the country, [8230;]

Tetra Pak sustainability efforts in Vietnam pay off
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

The two notable sustainability awards handed out in October and November by the European Chamber of Commerce (EuroCham) and the Vietnam Business Council for Sustainable Development (VBCSD) recognised Tetra Pak as a pioneer in promoting sustainability in Vietnam, and affirmed that the company8217;s efforts are paying off. Sustainability as a trend Nguyen Thi Dinh (35), [8230;]

PVOIL strengthens petrol quality management for benefits of customers
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

PetroVietnam Oil Corporation (PVOIL) has strengthened the quality control of petroleum in its storage, transport and distribution system to ensure the best interests of customers. Cao Hoai Duong, PVOIL general director speaks to Vietnam News Agency about this issue. With nearly 600 petrol and oil retail stations in all provinces and cities and 23 subsidiaries, [8230;]

Vietnam8217;s wood exports likely to reach 11 billion USD in 2019
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

Vietnam8217;s export turnover of wood and forestry products is forecast to hit 11 billion USD in 2019, according to an official from the Vietnam Administration of Forestry (VAF). Deputy general director of the VAF Cao Chi Cong said foreign investment and cooperation have significantly contributed to the forestry sector8217;s growth in recent years. Vietnamese wood [8230;]

BIDV issues additional 1.3tr dong of bonds
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDVBID) had just announced to have successfully issued an individual 1,3 trillion dong of six-year bonds on November 29. This type of bond was non-convertible, not accompanied by warrants, not guaranteed, issued and paid in dong, established direct repayment obligations, was BIDV8217;s secondary debt, [8230;]

Knowledge mismatch hinders IT in agriculture
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

An ongoing issue in the digitalisation of the agriculture sector is that IT workers know little about farming and farmers know little about IT. Digital technology can help Vietnam8217;s agriculture sector improve production efficiency, protect farms against traditional problems like pests and poor weather, and raise product quality, but this requires a workforce who are [8230;]

A juicy treat for orange lovers
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

Lovers of oranges rejoice! An entire week dedicated to the delicious cam sanh (King Orange) fruit is being planned. The seven day orange bonanza will begin on December 20 featuring fruit from from the northern Ha Giang Province. The event has been organised by the Hanoi Promotion Agency (HPA), Hanoi8217;s Department of Industry and Trade [8230;]

Oil exploitation drops, coal increases
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

The Ministry of Industry and Trade on December 3 reported that production index of mining industry in the first 11 months of this year rose by 0.9 percent over the same period last year. Oil and gas exploration has continued to be implemented in accordance with the plan. However, oil exploitation at key oil fields [8230;]

Local gold soars, US dollar falls
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

Domestic gold prices surged today, December 4, after a few days of moving sideways, while the US dollar took a sudden nosedive, the local media reported. Many gold trading firms in HCM City quoted the SJC gold price at VND41.45 million per tael for buying and VND41.65 million per tael for selling, up VND250,000 per [8230;]

Coffee King dismisses ex-wife8217;s talk of reunion as 8216;trick8217;
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

Vietnam8217;s so-called Coffee Queen has sought reconciliation with her estranged husband, but he wants none of it, only a settlement of their property dispute. Dang Le Nguyen Vu, dubbed the Coffee King, and Le Hoang Diep Thao came face to face again this week in court as one of the country8217;s biggest ever divorces raged [8230;]

8216;Customer experience8217; key to survival in digital age
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

Marketing strategies that include personalised customer experiences are essential to help companies survive in the highly competitive digital age, speakers said on Wednesday at an international summit in HCM City. Nguyen Duong, founder of Cempartner, a customer experience professional, said: 8220;In the digital era, customers expect to experience personalised and interactive experiences in which the [8230;]

Sixteen provinces join Hanoi farm produce traceability system
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

Sixteen provinces have joined Hanoi8217;s agricultural product traceability system in 2019, according to the municipal Department of Agriculture and Rural Development (DARD). The DARD collaborated with the centre for Integration and Development of Enterprises (IDE) under the Vietnam Association of Small and Medium Enterprises to develop the patented software 8220;Authentication process against counterfeiting8221; and make [8230;]

HDBank wins two awards for excellent international payment services
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

After multiple prestigious local and international prizes, HCM City Development Joint Stock Commercial Bank (HDBank) has received the MT202 and MT103 STP (Straight-Through Processing) awards from J.P Morgan Chase Bank for its high-quality international payment services meeting global standards. Accordingly, HDBank wins the two awards from J.P Morgan Chase Bank, the United States8217; largest bank [8230;]

Initial costs in green apartments offset later
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

Developers are moving towards sustainable development by promoting green apartment buildings but there are issues to surmount. The International Finance Corporation (IFC) awarded EDGE certification to the HausNeo Apartments project developed by the EZ Land Vietnam Development JSC in August, as it met the required excellence in design for green buildings. According to Do Ngoc [8230;]

Japanese agency vows to clean up To Lich River
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

The Japan Environment and Trade Promotion Organisation claims to have found a solution to tackle pollution on the 14-kilometer To Lich River in Hanoi and has pledged to provide all necessary funding for the clean-up process. The organisation said at a meeting with the Hanoi government on Tuesday that it will build underground tanks to [8230;]

Vietnam enjoys trade surplus with Israel in first 10 months
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

Two-way trade between Vietnam and Israel hit around 899 million USD in the first 10 months of 2019, with Vietnam enjoying a trade surplus of 401 million USD. According to Vietnamese Trade Counsellor in Israel Le Thai Hoa, footwear shipments to Israel reported a year-on-year surge of 21.5 percent in the 10 months, while cashew [8230;]

The reduction of compulsory reserve interest rates has an impact on banks
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

On November 29, 2019, the Governor of the State Bank of Vietnam (SBV) signed Decision No. 2497/QD-NHNN on the interest rates of compulsory reserve deposits and deposits in excess of mandatory reserves of credit institutions at SBV. This decision would take effect on December 1, 2019. As explained by SBV, this decision was issued following [8230;]

Vietnam Airlines wins two travel awards
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

Vietnam Airlines has been recognised as the world8217;s leading cultural airline and the world8217;s leading airline-premium economy class by the World Travel Awards (WTA) at a recent ceremony in Oman. These two global awards mark an enormous achievement following the recognition obtained at the Asian competition in October in which Vietnam Airlines was presented the [8230;]

Airlines add more seats for Tet flights
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

Airlines have added more seats and air tickets prices are increasing as the Tet holiday approaches. Bamboo Airways already started selling tickets for Tet holiday from five to six months ago and Vietnam Airlines started selling Tet air tickets in mid-September. According to the plan, Bamboo Airways will provide nearly a million seats for their [8230;]

Vietnam8217;s first batch of marine fuel oil exported to Singapore
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

Binh Son Refining and Petrochemical Co., Ltd (BSR), the operator of Dung Quat Oil Refinery, has sold 6,000 tonnes of marine fuel oil (MFO) to Singapore8217;s BB Energy Company, the first batch of MFO to be exported by the refinery. According to a new regulation from the International Maritime Organisation (IMO), sulfur oxide emissions from [8230;]

Bonds attractive again
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

According to analysts of Saigon Securities Incorporation (SSI) Research, in the last week of November, Vietnam Development Bank (VDB) continue to offer bonds for the third consecutive week with a total amount of 3.547 trillion dong. In particular, terms of 10 and 15 years were still preferred, of which the registered volume were four times [8230;]

Growing appetite for quality snacks
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

Local snack producers in Vietnam are ramping up operations to tap into the growing demand amid changing eating habits. Hemant Rupani, managing director of Mondelez Kinh Do Vietnam, said that the nation is a very attractive snack food market with a rising income level, growing purchasing power, and changing lifestyle. In particular, around 73 per [8230;]

Novaland Expo opens in HCM City
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

Hundreds of investors and prospective buyers flocked to the Novaland Expo which opened in HCM City yesterday. The five-day event is being held at the company8217;s showhouse centre on Mai Chi Tho Street, District 2. Following the success of its earlier expo in June this year, the company seeks to provide updates on the trends [8230;]

Vietnam8217;s labour market remains grey area of reform effort
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

Efforts to simplify business conditions in Vietnam8217;s labour market remains insubstantial, causing great difficulties for the business community, said Nguyen Minh Thao, head of the Business Environment and Competitiveness Department under the Central Institute for Economic Management (CIEM). 8220;Reforms in this field are still limited to numerical reduction of employees in certain industries, or smaller [8230;]

Singapore8217;s Platinum Victory plans to buy three million shares in REE
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

Platinum Victory Pte Co Ltd, a wholly-owned subsidiary of Singapore-based automotive group Jardine Cycle and Carriage, plans to buy three million shares of the Refrigeration Engineering Corporation (REE). After the purchase, Platinum Victory will increase its ownership in REE from 28.97 percent to nearly 30 percent, equivalent to more than 93 million shares. Trading time [8230;]

Hanoi to raise tuition fees at high-quality public schools
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

The monthly tuition fee per pupil at the 14 best educational institutions in the city will increase by VND400,000 (US$17.2). The Hanoi People8217;s Council on December 4 approved a resolution to raise tuition fees at high-quality public schools from the academic year of 2020-2021, local media reported. In particular, the monthly tuition fee per pupil [8230;]

Coffee sector to expand intensive processing to add value
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

Vietnam has set itself a target of increasing the ratio of processed coffee from the current 10 per cent to 30-40 per cent by 2030 to add value, the Vietnam Coffee Week heard in HCM City on Wednesday. Speaking at the conference, Dr Nguyen Do Anh Tuan, director general of the Ministry of Agriculture and [8230;]

Vietnam8217;s catfish export price drops
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

The catfish price has been decreasing sharply this year after two years of staying at high levels. A review conference held in March 2019 heard that in 2018 the catfish export turnover reached $2.26 billion, an increase of 26.5 percent compared with 2017. The farming output soared by 20 percent to the record high of [8230;]

Bank stocks behind market rebound
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

The VN Index of the Hochiminh Stock Exchange added over 12 points on the afternoon of December 4 to close at the intraday high, backed by the sharp rise of bank stocks. After two straight falling sessions, the market regained traction in morning trading as many bluechips bounced back. The demand started to inch up [8230;]

Directors key for company growth
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

With the Vietnamese economy still growing, firms8217; boards of directors should develop to take advantage of opportunities, a top businessperson has said. Dominic Scriven OBE, chair of Dragon Capital Group and vice chair of Vietnam Institute of directors (VIOD), said the portents in the world economy were poor due to potential trade wars, slow growth [8230;]

What Vingroup and Masan hope to acquire from their retail merger
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

Vingroup wants to focus energies on its core sectors, technology and production; the Vinmart network fits right into Masan8217;s consumer retail expansion plans. After many years of investing heavily and enduring losses to acquire its dominant share of the retail market, Vingroup, Vietnam8217;s biggest private conglomerate, is withdrawing from the business. The merger deal that [8230;]

Realty credit tightening to have no impact on low-income homebuyers: experts
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

The State Bank of Vietnam8217;s recent move to tighten loans in the real estate sector is expected to have no impact on low-income earners who wish to purchase apartments worth less than VND1.5 billion (US$64,900). A new circular, which will take effect in early January next year, asks local banks and the branches of foreign [8230;]

Foreign investors continue to offload Masan Group stock
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

There has been a sell-off in Masan Group shares by foreign investors after it announced a merger with Vingroup on Tuesday. MSN closed down 2.65 percent on Wednesday, with volumes jumping to 5.5 million from 3.4 million the previous day and an average of 800,000. Foreign investors sold 4.6 million shares, the highest this year. [8230;]

Over 100 Chinese home appliances firms visit Vietnam
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

More than 100 home appliances firms from the Chinese provinces of Zhejiang and Guangdong are taking part in an exposition in HCM City to sound out business opportunities. The Vietnam International Electrical Appliance Expo 2019, as part of the 2019 Vietnam International Trade Fair (Vietnam Expo), is being held by Drez Exhibition, HC Group and [8230;]

Construction sector slow in improving productivity: experts
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

While other sectors have made significant improvements in their processes and product quality to boost their productivity, the construction sector has lagged behind, according to experts at a recent conference. At the conference on infrastructure development and trends, held by cement manufacturer INSEE Vietnam in HCM City, experts agreed that construction is a major sector [8230;]

Reference exchange rate up 8 VND on December 5
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

The State Bank of Vietnam set the daily reference exchange rate at 23,167 VND/USD on December 5, up 8 VND from the previous day (December 4). With the current trading band of +/-3 percent, the ceiling rate applied to commercial banks during the day is 23,861 VND/USD and the floor rate 22,472 VND/USD. The opening [8230;]

Stock market briefs
Thu, 05 Dec 2019 23:02:02 +0000

Intellasia East Asia News

Pham Trung Lam, general director of Masan MEATLife, a meat subsidiary of consumer goods firm Masan Group (MSN), said that MeatDeli-branded chilled meat will be made available at some 136 VinMart supermarkets and 2,888 VinMart+ stores by the end of the year, as part of a merger deal between Vingroup and Masan. MeatDeli chilled meat [8230;]

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