Vietnam Business News

Solutions coming thick and fast for draft PDP
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

The policymakers of the latest draft of Vietnam8217;s mammoth Power Development Plan VIII see themselves confronted with additional wind and solar demand, as well as the scrutiny of a deputy prime minister, requiring the Ministry of Industry and Trade to remedy issues to meet the national goals of energy security and net zero emissions by [8230;]

Bonds circulating within banks
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

When several banks announced the issuance of thousands of billion dong to mobilise medium and long-term capital at high interest rates, a rush for buying bonds followed, which turned into a frenzy towards the end of 2021. Frenzy to buy In a report on the money market for the week 27 December to 31 December [8230;]

Developing sustainably with rise of green buildings
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

In 1990, the Building Research Establishment8217;s Environmental Assessment Method (BREEAM) was born in the UK, marking the world8217;s first foundation of green building. In 1993, the world8217;s first Green Building Council was established in the US and the LEED Green building certificate was also issued accordingly. In 1999, the World Green Building Council was established [8230;]

VinFuture prize winners officially announced at grand ceremony
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

The long-awaited winners of the first Vinfuture Prize has been officially announced at an award ceremony held in Hanoi Opera House. The event, held yesterday, was attended by prime minister Pham Minh Chinh, Vingroup President Pham Nhat Vuong, world scientists and other high-ranking officials. Speaking at the opening ceremony, the prime minister emphasized the importance [8230;]

PM directs building roadmap to welcoming foreign visitors
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

The government Office has issued a dispatch on the prime minister8217;s directions about building a roadmap to open the door to welcome foreign visitors in a safe, scientific and effective manner. In the document to heads of ministry-level and government agencies, chairpersons of the centrally-run municipal and provincial People8217;s Committees, PM Pham Minh Chinh said [8230;]

Reviews set after Thu Thiem episode
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Real estate-backed credit packages and corporate bonds are to be strictly constrained under the fresh legislation of the competent authorities. Hot on the heels of Tan Hoang Minh Group8217;s withdrawal from the auction bidding in Thu Thiem New Urban Area, the State Bank of Vietnam (SBV), together with its subsidiary, the SBV Banking Supervision Agency, [8230;]

Thailand invests over $13 billion in Vietnam throughout 2021
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Thai businesses invested in 645 valid projects nationwide with total registered capital of over $13 billion last year, ranking eight out of 140 countries and territories investing in the country, according to figures given by the Ministry of Planning and Investment. Most notably, Thailand8217;s foreign direct investment (FDI) capital into the country reached $927.12 million [8230;]

The rise of tech for a planet-friendly and sustainable economy
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Shifting our economy to a sustainable state is the main objective of the 21st century, digital technology can play a part in the programme taking place at the scale of our civilisation. To ideate any transformative agenda, one should commit to understanding the patterns underlying the transformation of our civilisation. Indeed, as identified by William [8230;]

Generali Vietnam launches new policy kit
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Generali Vietnam has launched a new policy kit with pioneering innovations in content, design and customer experience on January 19. The new policy kit is a physical and digital integrated version, which offers customers hassle-free access to online information while not compromising the enjoyable and satisfying experience of holding a physical policy kit featuring a [8230;]

Samsung Vietnam8217;s 2021 revenue exceeds 74.2 billion USD
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Despite difficulties due to COVID-19, Samsung Vietnam earned 74.2 billion USD in revenue last year, up 14 percent annually. The company8217;s export value, meanwhile, hit 65.5 billion USD, up 16 percent on year, according to its 2021 business report released on January 19. Samsung Vietnam attributed the outcomes to its plants8217; serious implementation of pandemic [8230;]

Vietnamese market in fifth place for shrimp exports to US in 2021
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

The country ranked fifth in terms of shrimp exports to the United States last year, with the nation being among one of the shrimp suppliers to this market to enjoy positive growth. According to the data detailed by Vietnam Customs, the US currently represents the largest import market for Vietnamese shrimp, accounting for 28 percent [8230;]

BAC A BANK to launch fresh corporate banking app version
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

On January 21, BAC A BANK will make the debut of its latest corporate banking app version with many changes in design and function, making it more convenient for users with laptops and mobile phones. The version, with high-security standards, provides maximum safety and processing speed for all customers, commensurate with Android and iOS. The [8230;]

Vietnamese sugar failing to compete on home ground
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Vietnam has lost over 120,000 hectares of sugarcane in the 2016-21 period, a staggering 45 per cent decrease. Productivity has also gone down from 64.8 to 61.5 tonnes per hectare during the same period, according to the Vietnam Sugar and Sugarcane Association (VASA). The number of households cultivating sugarcane has decreased from 219,500 to 126,000. [8230;]

China to increase imports of Vietnamese cassava in 2022
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

China is anticipated to import additional Vietnamese cassava over the coming year due to favourable geographical conditions, according to the Ministry of Industry and Trade. Last year witnessed cassava and cassava-based products become one of the few agricultural items to consistently maintain its robust growth in both volume and turnover. Statistics compiled by the general [8230;]

Reference exchange rate down 23 VND on January 21
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

The State Bank of Vietnam set the daily reference exchange rate for the US dollar at 23,077 VND/USD on January 21, down 23 VND from the previous day. With the current trading band of +/-3 percent, the ceiling rate applicable to commercial banks during the day is 23,769 VND/USD and the floor rate 22,384 VND/USD. [8230;]

US hails Hanoi8217;s push for eco-friendly public transports
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

The move is among Hanoi8217;s efforts to fulfill Vietnam8217;s commitment made at COP26 on climate change. The US pays great attention to Hanoi8217;s policies that fulfill Vietnam8217;s commitments made at the COP26 summit on climate change, said US Embassy8217;s Economic Counsellor Lynne Gadkowski at a meeting with Hanoi deputy Mayor Nguyen Manh Quyen in the [8230;]

Business Culture Resources for Sustainable Development
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

National economic development requires national administrators to effectively identify, mobilise and develop economic and social resources. Finance, physical facilities, people and natural resources play a fundamental and indispensable role in the socioeconomic development strategy. However, the country8217;s sustainable development also requires social soft resources in which social culture and business culture are core values. Culture [8230;]

VN bankers still pocketed high profits in 2021 despite Covid-19.
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

2021 was a fruitful year for commercial banks, which saw a 25 percent growth rate. TP Bank reported total revenue of VND13.5 trillion in 2021, an increase of 30 percent over the year before. The bank not only made profits from lending but also from services, with net profit increasing by 65 percent. Its pre-tax [8230;]

Japanese firm strikes deal to join Vietnam8217;s LNG market
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

The Japan Petroleum Exploration Co. Ltd (JAPEX) and Vietnam8217;s ITECO JSC have freshly signed a share purchase agreement and a pact on comprehensive cooperation that involves the procurement, storage, and supply of liquefied natural gas (LNG) in Vietnam. Accordingly, the sides8217; collaboration agreements revolves around project design and construction; operation and maintenance; procurement of LNG; [8230;]

Top three potential export industries in 2022 released
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Agriculture, beauty and personal care and home and gardening are three potential export industries in which Vietnamese small-and-medium enterprises (SMEs) can grab the opportunity to grow their business in 2022. Alibaba.com one of the leading B2B e-commerce platforms has published its annual Digital B2B Outlook 2022 for the Vietnam market. The outlook sums up the [8230;]

Banking stocks help VN Index rebound
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Vietnam8217;s benchmark rose 1.56 percent to 1,465.30 points Thursday, the biggest gain in over two weeks, with banking tickers continuing to lead blue chip gains. The index started to rise in the last hour of trading and closed 22.5 points higher after losing nearly 57 points in the first two days this week. Trading value [8230;]

Koreans stay at summit of flow charts
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

South Korean investors have yet again managed to stay at the top of the food chain in Vietnam8217;s investment environment in 2021. However, their presence also entails a network of satellite businesses that leave little room for domestic competitors. The Mekong Delta province of Kien Giang is promoting activities to attract South Korean businesses with [8230;]

Hai Phong leads in FDI attraction in 2021
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

The northern port city of Hai Phong topped localities across the country in foreign direct investment (FDI) attraction in 2021, drawing over 5.14 billion USD, up nearly 3.4 times over that in the same period last year. Of the total, 327.45 million USD was invested in 29 new projects, nearly 2.63 billion USD poured into [8230;]

SSI Securities distributes Nova Consumer shares
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Nova Consumer Group JSC (Nova Consumer) assigned SSI Securities JSC to distribute its initial public offering (IPO) shares. Registration and deposit payments for shares will be submitted from February 7 to 28. According to the plan to offer the shares to the public, Nova Consumer will offer 10.900 million shares for the first time to [8230;]

Vietnam, France hold seventh high-level economic dialogue
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

The seventh high-level economic dialogue between Vietnam and France took place in the form of videoconference on January 20. The event was co-chaired by director of the External Economic Department under the Ministry of Planning and Investment Pham Hoang Mai, and on the French side head of the Bilateral Affairs and International Business Development Department [8230;]

RCEP offers new opportunities for Vietnam to sustain economic development
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

The Regional Comprehensive Economic Partnership (RCEP) that came into effect on January 1, 2022, will bring about new opportunities for Vietnam to sustain its economic development, as well as important effects in relation to sustainability and institutional support, according to experts from RMIT. Dr Erhan Atay, RMIT Senior Lecturer of International Business, said along with [8230;]

Shares of Deo Ca Group8217;s subsidiary debut on HoSE
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Deo Ca Traffic Infrastructure Investment JSC, a subsidiary of Deo Ca Group, today, January 20, listed more than 267 million shares on the Hochiminh Stock Exchange (HoSE) under the code HHV. With a reference price of VND25,660 per HHV share and a margin of 20%, Deo Ca Traffic Infrastructure Investment8217;s market capitalisation was estimated at [8230;]

Internet infrastructure to get strong investment this year
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Internet infrastructure in the country is set to receive considerable investment in 2022 to meet users8217; growing demand, according to the Dau tu (Vietnam Investment Review) newspaper. The number of Internet subscriptions in Vietnam hit a record last year, nearly 71 million mobile broadband subscriptions and 18.8 million fixed ones, respectively rising 4 percent and [8230;]

Fiber export turnover reach 5.5 billion USD in 2021
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Vietnam8217;s export turnover of fiber of all types reached a record high of 5.5 billion USD in 2021, despite the severe impact of the COVID-19 pandemic. It was up 13 percent in volume and 50 percent in value against last year8217;s figures, Dau tu (Investment) newspaper reported. Last year, the price of fiber rose by [8230;]

VN Index grows for second day after realty stocks recover
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Shares rose strongly in the latter half of the afternoon session, lifting the VN Index up 1.56 per cent to close Thursday at 1,465.30 points. This was the second rising day of the southern market8217;s index after a four-session losing streak. On the Hanoi Stock Exchange, the HNX-Index advanced for the first time in the [8230;]

Manufacturing, IT firms rush to recruit workers
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Manufacturing and tech companies are rushing to recruit workers as foreign companies show rising interest in setting up or expanding their factories in Vietnam. Electronics manufacturer Jabil Vietnam is recruiting 500 workers in Ho chi Minh City, with a bonus of VND3.3 million ($145.62) promised to each new employee. Other companies in Saigon Hi-Tech Park [8230;]

Vietnam expected to be Asean8217;s fastest-growing economy in 2022: ADB
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Strengthening the healthcare system and ensuring effective and timely implementation of the Economic Recovery Plan for 2022-2023 is key for Vietnam to boost growth recovery this year. Vietnam is set to be the fast-growing economy among Asean countries in 2022 with estimated GDP growth of 6.5 percent year-on-year, the Asian Development Bank (ADB) said today [8230;]

Tobacco giant pursues green growth
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

The circular economy model helps production and business activities develop sustainably and creates added value in the community, said a representative of British American Tobacco (BAT). A sustainability model Vietnam has been integrating more and more deeply into the global economy through free trade agreements that include provisions on sustainable development and oblige all parties [8230;]

Scale-up seen in key foreign ventures
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Vietnam has remained as a bright spot in large-scale investment attraction thanks to drastic actions in pandemic prevention and the selection of foreign-invested partners. Construction is due to start on January 21 on a factory manufacturing electronic products, network equipment, and multimedia audio products for China8217;s high-tech firm Goertek Group, after Nghe An People8217;s Committee [8230;]

VIB profits up 38 per cent in 2021
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Vietnam International Bank (VIB) had a great performance in 2021 with a profit exceeding VND8 trillion (over $343 million), up 38 per cent year-on-year, according to its business results released on Wednesday. Especially in the fourth quarter, VIB experienced a strong recovery with a profit of nearly VND2.7 trillion, the highest level in the bank8217;s [8230;]

Workers8217; dilemma as Vietnam considers increase in overtime cap
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Circumstances are tough and workers need more money, but a proposal to significantly increase overtime cap has experts worried about workers8217; health and their families8217; well-being. Nguyen Thi Hao has no complaints whatsoever about the labour ministry considering increasing the monthly overtime cap for a worker from 40 to 72 hours. The HCM City resident [8230;]

Almost all traditional markets in HCM City reopen
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Only 22 out of HCM City8217;s 233 markets that were closed as a safeguard measure against COVID-19 were yet to reopen as of January 17. According to the city Department of Industry and Trade, the three wholesale markets are also open. On January 18 two more traditional markets, Tan Kieng 1 and Cu xa Ngan [8230;]

VPBank named in Top 50 Best-performing Companies
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

VPBank has been honoured in the 8220;Vietnam8217;s 50 Best-performing Companies8221; (TOP50) for five consecutive years thanks to its proactive business focus and controlling risks well during the pandemic in Vietnam. The bank always has many active methods to support customers to overcome difficulties and continuously gain success. VPBank was also one of 20 businesses in [8230;]

Businesses use innovation,technology to overcome economic depression in pandemic
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Over 100,000 enterprises faced bankruptcy during the fourth Covid-19 outbreak in Vietnam from May to October 2021. Nevertheless, there are a few that witnessed a growth rate of more than 10 percent. Sai Gon Giai Phong (SGGP) Newspaper has conducted an interview with director of the Institute for Brand and Competitiveness Strategy Vo Tri Thanh [8230;]

Vietnam urges Japan to look into VNA aircraft threat
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Vietnam has asked Japan to promptly look into an anonymous caller who threatened to shoot down the VN5311 flight of Vietnam Airlines (VNA) flying from Japan8217;s Tokyo to Hanoi if it flew over Tokyo Bay in early January. Vietnam has sent a diplomatic note to Japan8217;s Ministry of Foreign Affairs, proposing the Japanese side launch [8230;]

Banks prohibited from paying dividends in cash in 2022
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Vietnam8217;s commercial banks will be barred from paying cash dividends to shareholders to reduce interest rates. Additionally, in the preceding year 2021, the State Bank of Vietnam (SBV) instructed banks to refrain from paying cash dividends in order to spend resources on lowering interest rates for individuals and companies. Thus, banks will be prohibited from [8230;]

Vietnam, RoK businesses boost cooperation in tourism, economic recovery
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

The Vietnam-Korea Business and Investment Association (VKBIA) and Yongpyung Resort Group signed a Memorandum of Understanding (MoU) in Gangwon, the Republic of Korea on January 20 to boost cooperation between the Vietnamese and Korean businesses in tourism promotion and economic recovery post pandemic. Under the deal, VKBIA and Yongpyung Resort will co-organise various culture and [8230;]

Mission to promote foreign-invested capital inflows
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Preparing available clean land in industrial zones (IZs) and a suitable labour force are the key factors to welcome foreign-invested capital inflows this year. With a solid vision for the future, Vietnam has created a concrete foundation to bounce back stronger in 2022, with the amendment of a variety of important laws that help improve [8230;]

Banks increase recruitment on large scale in 2022
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Navigos Group has just announced information about the recruitment demand for mid and semior-level personnel in Vietnam market though the recruitment demand on Navigos Search in the fourth quarter (Q4) of 2021 and given forecast on the recruitment trend in Q1/2022. According to the report, the number of recruitment requests in Q4/2021 of businesses in [8230;]

CapitaLand Development divests Capital Place in Hanoi for $550 million
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

CapitaLand Development (CLD), the development arm of CapitaLand Group, on January 20 announced the divestment of Capital Place, its international Grade A office building in Hanoi for $550 million to an unrelated third party. Capital Place is held under the CapitaLand Vietnam Commercial Value-Added Fund (CVCVF). CLD holds a 50-per-cent stake in CVCVF while the [8230;]

Vietnam, Cambodia prepare for high-ranking exchange visits in 2022
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Experts believed that the Vietnam-Cambodia relations are vital for both. Vietnam and Cambodia are discussing preparations for high-ranking exchange visits in 2022 the year that marks the 55th year of diplomatic relations. The two sides made the discussions during the visit paid to Phnom Penh by Vietnam8217;s Foreign minister Bui Thanh Son on January 19-20. [8230;]

Quang Ninh province announces DDCI results in 2021
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

The northern province of Quang Ninh announced its District and Department Competitiveness Index (DDCI) in 2021 during a conference in Ha Long city on January 20. Among 22 departments and sectors, the Department of Customs took the first position with 78.48 points, while Quang Yen township led 13 district-level localities across the province with 79.83 [8230;]

Small banks report losses in Q4/2021 due to high provisions
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

Some banks have released their financial statements in the fourth quarter (Q4) of 2021 with reduction in pre-tax profit due to the strong provisions at the end of the year. Specifically, in the Q4/2021 financial statement of Petrolimex Group Commercial Joint Stock Bank (PGBank), the pre-tax profit recorded a decline of 29.2 percent compared to [8230;]

VCCI Strengthens Support for Lao Cai Province in Improving Business Environment
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

At the meeting with President of the Vietnam Chamber of Trade and Industry (VCCI) Pham Tan Cong, Trinh Xuan Truong, Chair of Lao Cai Provincial People8217;s Committee, congratulated VCCI on successfully organising the VCCI National Congress for the term 2021-2026. The Chair of Lao Cai Provincial People8217;s Committee proposed the establishment of a representative office [8230;]

Foreign investors upbeat about the outlook of The CrownX
Fri, 21 Jan 2022 22:02:01 +0000

Intellasia East Asia News

A series of major financial institutions in the world have just raised the valuation of Masan8217;s stocks. This is attributable to the bright prospect of The CrownX (TCX) to become the leading consumer platform in Southeast Asia, after securing investment from e-commerce giant Alibaba and a partnership agreement with Lazada. Masan Group today announced its [8230;]

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