Vietnam Business News

Local fuel prices drop sharply
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

The ministries of Finance and of Industry and Trade today, February 14, lowered fuel retail prices, the local media reported. Local fuel traders can extract VND100 for each litre of bio-fuel E5 RON92 sold to replenish the fuel price stabilisation fund. The respective extraction rate for each litre or kilogram of RON95 petrol, kerosene, diesel [8230;]

Inclusive policies amid digital transformation
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

Amid the Fourth Industrial Revolution, Vietnam is boosting efforts and policy reforms to build up a digital economy. Ousmane Dione, country director for the World Bank in Vietnam, writes about the importance of such an economy to future growth. Those who love Vietnamese street food can now try out the experience of going cashless at [8230;]

State capital in Viglacera to be fully divested in 2010
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

The Construction Ministry will divest the remaining State capital in ceramic and tile producer Viglacera Corporation this year, said head of the ministry8217;s Enterprises Management Department Dao Minh Thanh. The State capital in Viglacera now accounts for 38.85 percent following previous divestments. The firm also elected a new board of directors at the annual shareholder8217;s [8230;]

Former Grab leader appointed CEO of VinID
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

Former CEO of Grab Financial Group Vietnam, Nguyen Tuan Anh, is the new general director of Vingroup8217;s loyalty programme VinID. Tuan Anh, who had left the ride-hailing firm last month, confirmed his new appointment with VnExpress, saying he had taken over last Friday. The VINID Joint Stock Company (VinID) said that it expected Anh would [8230;]

US firms in Vietnam hit by coronavirus supply chain issues: AmCham survey
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

US manufacturing firms operating in Vietnam are suffering supply chain issues caused by the coronavirus epidemic, according to a survey of American Chamber of Commerce (AmCham) members in Vietnam, the business chamber said on Friday. 8220;More than half of our members in the manufacturing sector are experiencing difficulty sourcing supplies/materials due to disruptions from the [8230;]

Vietnam8217;s real estate companies invest in foreign markets
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

More and more domestic real estate firms have begun to seek investment opportunities in global markets, according to Savills Vietnam. 8220;There are many benefits of expanding into overseas markets. In addition to comparably stable profit margins, there exist factors that drive more demand from domestic firms, such as quick project execution time, high project quality, [8230;]

US Department of Agriculture gears up inspection for Vietnamese pangasuis
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

According to the National Agro-Forestry-Fisheries Quality Assurance Department (NAFIQAD) under the Ministry of Agriculture and Rural Development, the Food Safety and Inspection Service (FSIS) under the United States Department of Agriculture (USDA) will send a working delegation to Vietnam for the second tine of Pangasius inspection from March 2-13 after the first inspection in October [8230;]

Preparations geared up for exporting fresh lychees to Japan
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

The northern province of Hai Duong is taking the necessary measures to export fresh lychees to Japan in 2020. In late 2019, Japan officially announced that it would open the door for Vietnamese lychees following more than five years of negotiations between the Vietnamese Plant Protection Department and the Ministry of Agriculture, Forestry and Fisheries [8230;]

VN Index dips, ending three-session gaining streak
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

Vietnam8217;s benchmark stock market index slipped 0.08 percent to 937.45 points Friday, ending a three-session gaining streak. The Ho Chi Minh Stock Exchange (HoSE), on which the VN Index is based, saw 177 stocks fall and 160 rise. The value of order-matched transactions on the exchange reached VND2.7 trillion ($116.08 million), slightly higher than last [8230;]

EVFTA brings chances and challenges to local agricultural production
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

The new trade agreement between Vietnam and the European Union opens many doors for agriculture, according to experts. Nguyen Do Anh Tuan, director of the Department of International Cooperation, Ministry of Agriculture and Rural Development said the newly-ratified EU-Vietnam Free Trade Agreement (EVFTA) offers plenty of opportunities. He said as the EU imports about $150 [8230;]

HCM City, Hanoi office space among Asia Pacific8217;s most sought after
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

HCM City and Hanoi were among the best office markets in terms of investor returns across Asia Pacific last year thanks to rising rent and occupancy. HCM City saw rent for Grade A and B office space soar to the decade high $29.1 per square metre in Q4 last year, up 7.4 percent year-on-year, supported [8230;]

HCM City aids manufacturing to remain on growth track
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

HCM City is providing assistance to the manufacturing sector to sustain industrial growth. It will amend the development plans for industrial parks (IPs), build a new IP measuring over 360ha for hi-tech industries, change start-up programmes, and create new support policies. According to its Statistics Bureau, HCM City has more than 50,000 businesses in the [8230;]

EVFTA to trigger high-quality FDI flows into Vietnam: AHK
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

8220;The EVFTA is a clear commitment for reliable trade based on transparent rules.8221; Stronger foreign direct investment (FDI) from Europe are expected to flow to Vietnam, into high-valued projects in the long term, when the EU Vietnam free trade and investment protection agreements come into force, according to Marko Walde, chief representative of the Delegation [8230;]

Joy for all, except farmers
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

Vietnam8217;s exports in 2019 are an impressive result, especially amid the negative export growth of many big economies. Every Vietnamese is pleased with this result, except farmers. Vietnam8217;s exports in 2019 reached $263.4 billion, up 8.1 percent from the year earlier, and the country enjoyed a trade surplus of $9.9 billion, the fourth consecutive year [8230;]

SSI Securities issues 15 million covered warrants
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

SSI Securities Corporation (SSI) on Friday issued an additional 15 million covered warrants for five common stocks. The five stocks are steel producer Hoa Phat (HPG), retailer Mobile World Investment (MWG), VPBank (VPB), HDBank (HDB) and Techcombank (TCB). SSI will issue 5 million covered warrants for HPG, 1 million for MWG and 3 million each [8230;]

Seminar reviews decade-long continuous efforts for EVFTA
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

The government portal held a seminar in Hanoi on February 14 to review the decade-long efforts on the European Union Vietnam Free Trade Agreement (EVFTA). On February 12, the EVFTA was ratified by the European Parliament with 401 votes for, 192 against and 40 abstentions. The move also reflected Vietnam8217;s important political stature in the [8230;]

Garment group to provide 6 million face masks in February amid COVID-19
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

The Vietnam National Textile and Garment Group (Vinatex) is exerting efforts to produce around 6 million antibacterial face masks in February to meet increasing demand amid the novel coronavirus disease (COVID-19) outbreak. In the month, the group is also striving to provide 10 tonnes of fabric every day for garment companies to make medical masks [8230;]

Businesses to consider solutions for supply chain
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

As air and road supply of raw material from China is cut off due to the rampaging nCoV virus, most Vietnam-based companies have to rethink their strategy in face of the impending hindered factory operation. In the most recent turn of events, about ten companies based in Saigon Hi-tech Park have sent desperate letters to [8230;]

Vietnam government to make utmost efforts to realise economic targets in 2020
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

Vietnam is predicted to be among four economies hardest hit by the Covid-19 outbreak, behind Singapore, Thailand and Hong Kong (China). Vietnam would continue to carry out drastic measures against the outbreak of Covid-19 and make its utmost efforts to ensure the fulfilment of socio-economic targets set for 2020, said the government in a resolution [8230;]

Vietnamese banks strive to assert their brand
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

Brand Finance recently announced the Top 500 most influential and most valuable banking brands in the world (Brand Finance Banking 500) in 2020. Improve trust According to this organisation, the market with the most active brand was Vietnam, when it increased by 146 percent compared to 2019. The ranking of the 500 most valuable brand [8230;]

Trading remains quiet amid risk concerns
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

Brokerage firms and market experts remain pessimistic about market trading this week as investors run out of supportive information while international stocks continue to be weighed down by the novel coronavirus (COVID-19). On the Ho Chi Minh Stock Exchange, VN Index lost 0.08 per cent to end Friday at 937.45 points. The southern market index [8230;]

Japan to offer VND400 billion aid for antiflooding project in HCM City
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

The Japan International Cooperation Agency (Jica) will offer VND400 billion in aid to the HCM City government to rehabilitate the aging and deteriorating sewers in downtown HCM City to help address flooding in the city. The HCM City Department of External Relations has asked HCM City Chair Nguyen Thanh Phong to approve the signing of [8230;]

Vietnam remains safe for tourists despite coronavirus: tourism authority
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

The Vietnam National Administration of Tourism has written to its international partners and foreign tourists announcing that Vietnam is still safe and is adopting various measures to curb the spread of the Wuhan coronavirus, now officially named COVID-19. This is the second time the head of the administration has sent a letter to its international [8230;]

Ministry urges reduction in goods deliveries via border checkpoints with China
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

The Ministry of Industry and Trade has repeatedly urged Vietnamese exporters to reduce deliveries of goods via Vietnam-China border checkpoints, except for official-channel exports or that Chinese partners can confirm to take delivery of the goods. The spreading new coronavirus (COVID-19) outbreak is taking toll on the economy as it has forced border trade on [8230;]

Vietnam eyes export boost from EU trade deal amid coronavirus slump
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

With its exports to China hit by the coronavirus epidemic, Vietnam8217;s landmark free trade deal with the EU assumes even more importance. The novel coronavirus (Covid-19) epidemic is expected to continue posing difficulties for Vietnam8217;s exports to China, its second biggest market, at least in the first quarter, minister of Industry and Trade Tran Tuan [8230;]

VN banks more open for EU investors under newly-approved trade pact
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

Investors from the EU will have opportunities to own higher stakes in Vietnamese banks than those from other countries under Vietnam8217;s commitments in the EU-Vietnam Free Trade Agreement (EVFTA). Under the EVFTA signed this week by the European Parliament, Vietnam and the EU have committed to facilitate the investment environment for businesses of the two [8230;]

Stocks seen struggling next week as virus worries remain
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

Local stocks are forecast to struggle in a narrow range next week as investors are still uncertain about the prospects of the market and especially businesses hit by the coronavirus outbreak. Listed firms are forecast to report lower-than-expected earnings in the first three months of 2020 as their sales have been impacted by the COVID-19 [8230;]

Can Tho City to solve difficulties for enterprises
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

The Mekong Delta City of Can Tho will set up specialised working groups to work closely with local enterprises in removing difficulties in a timely manner in order to help the firms ensure production. The municipal People8217;s Committee vice chair Duong Tan Hien delivered this statement during a conference held late last week here to [8230;]

Long An exports 50 tonnes of dragon fruit by sea a day
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

The Dragon Fruit Association of southern Long An province exports 50 tonnes of dragon fruit a day on average to China and other Southeast Asian nations by sea as export by road has faced lots of difficulties due to the outbreak of the acute respiratory disease caused by the novel coronavirus (COVID-19). The association has [8230;]

Logistics sector sees positive shift
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

Vietnam8217;s logistics infrastructure posted positive changes throughout 2019 while several major road and railway upgrade projects were put into service. Deputy minister of Industry and Trade Tran Quoc Khanh cited the data released by the Ministry of Transport as saying that in the first nine months of 2019, six major transport projects were completed and [8230;]

International cooperation key to promoting Vietnam8217;s tuna brand
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

Expanding international cooperation will be a key to helping the Vietnamese tuna sector to create its brand in the global market, according to insiders. Since 2014, the directorate of Fisheries under the Ministry of Agriculture and Rural Development has supported tuna fishermen and businesses to carry out cooperation projects with the Philippines. The Global Nature [8230;]

FE8217;s bad debts sharply fluctuate
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

Information from Vietnam Prosperity Commercial Joint Stock Bank (VPBank), the bad debt ratio of FE Credit by the end of 2019 was six percent, unchanged compared to the end of 2018. Notably, according to the financial report at the end of June 2019, FE Credit8217;s bad debt ratio sharply dropped to 5.35%. Thus, the bad [8230;]

Stock market briefs
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

SSI Securities Corporation (SSI) has issued an additional 15 million covered warrants for common shares of steel producer Hoa Phat (HPG), retailer Mobile World Investment (MWG), VPBank (VPB), HDBank (HDB) and Techcombank (TCB). SSI will issue three million covered warrants for HPG, one million for MWG and three million each for HDB, HDB and TCB. [8230;]

More than 800 firms stop operating or scale down due to COVID-19
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

More than 800 businesses and 8,700 employees have been affected by the COVID-19 epidemic, according to the Ministry of Labour, Invalids and Social Affairs. The ministry has just released a report on the impact of the disease caused by the novel coronavirus first reported in Wuhan, China. Accordingly, a survey of 30 provinces and cities [8230;]

Japanese firms expect to expand operations in Vietnam
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

Some 64 percent of Japanese enterprises participating in a survey intend to expand their business in Vietnam, the highest proportion among the Asean countries, heard attendees at a press briefing on February 14. Speaking at the press conference to announce the results of the 2019 survey of the business conditions of Japanese firms in Asia [8230;]

1,000 workers lose jobs to novel coronavirus epidemic
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

Over 1,000 Vietnamese labourers have exited employment as businesses scale down production or suspend operations due to new coronavirus fears, a labour ministry report stated. Of the affected, one-third work in accommodation and catering sectors, said the report, which was compiled using data gathered from 180,000 businesses in 22 out of 63 provinces and cities [8230;]

Vietnam slips out of top 10 logistics ranking
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

Vietnam has slipped one place to 11th in this year8217;s global index of emerging logistics markets, falling behind several Southeast Asian peers. The country had an overall score of 5.52 out of 10 in the 2020 Emerging Markets Logistics Index released by the world8217;s leading logistics company, Agility. The firm ranked 50 countries by factors [8230;]

Vietcombank impressively improves credit business performance after 10 years
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

Credit business data of three state-owned banks including Commercial Joint Stock Bank for Foreign Trade of Vietnam (Vietcombank) Commercial Joint Stock Bank for Industry and Trade of Vietnam (VietinBank) Commercial Joint Stock Bank for Investment and Development of Vietnam (BIDV) in the last 10 years showed the impressive journey to improve business performance of Vietcombank [8230;]

Enterprises still need more workers after Tet
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

Enterprises in HCM City, Binh Duong and Dong Nai complain that they have not been able to recruit workers since Tet. Thanh Nhan Company in Thu Duc district, HCM City, a shoemaker, still has not found enough workers even though it began looki g for workers before Tet. According to Tran Van Hung, a representative [8230;]

Agricultural product rescue needs more effective solutions
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

Many enterprises have made efforts to purchase fruits to help farmers to go through the current difficult period. Many solutions have been put forward by enterprises to improve the situation of spontaneous agricultural product rescue. The latest field trip of minister Nguyen Xuan Cuong of the Ministry of Agriculture and Rural Development to dragon fruit [8230;]

Fisheries sector grapples with impact of COVID-19
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

The fisheries sector of Vietnam is facing an array of difficulties as the acute respiratory disease caused by the novel coronavirus (COVID-19) has led to contracted exports. According to the Vietnam Association of Seafood Exporters and Producers (VASEP), aquatic exports in January fell 25 percent from the same period last year to 556 million USD. [8230;]

New document released to regulate use of non-residential real estate
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

The Ministry of Natural Resources and Environment (MoNRE) has sent a document to local departments to regulate the use and certification of non-residential real estate projects. The use and certification of non-residential property such as condotels have been a problem for years. The downtrend in the condotel segment has also been attributed to unsolved problems [8230;]

European credit institutions can hold 49pct of shares in 2 Vietnamese banks
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

One of the contents mentioned in the EU-Vietnam Free Trade Agreement (EVFTA) is the issue of ownership at banks. Within five years after the agreement came into effect, Vietnam committed to allowing Euoprean credit institutions to increase their ownership to a maximum of 49 percent stake in domestic commercial banks, maximum with two banks. However, [8230;]

Groundwork laid for high-flying aviation
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

With a number of notable changes taking effect this year, Vietnam is expected to see a big step in the development of its civil aviation industry. Vaibhav Saxena and Nguyen Hoang Anh Linh, lawyers at Vietnam International Law Firm, analyse the potential market developments on the back of new positive rules. From January 1, with [8230;]

Virus rouses food safety awareness in Vietnam
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

Supermarkets and retailers in Vietnam are making bank from the public rushing to stock up on indispensable food supplies, which could ultimately push forward an increase in awareness of food handling and safety. After finishing work at the office, Ngo Thai Bao in Cau Giay district, Hanoi dropped by the nearby VinMart to buy some [8230;]

Vietnam Airlines loses up to $10.8 million a week to Covid-19
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

Vietnam Airlines has lost VND200-250 billion ($8.6-10.8 million) per week following flight suspension to China, the national carrier said in a statement. Vietnam Airlines has suspended all flights to and from mainland China since the end of January, directly affecting 70,000 visitors per month between both countries while air routes to China account for 10 [8230;]

Binh Phuoc farmers see good cashew crop, but lower prices
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

Farmers in Binh Phuoc province have begun to harvest their cashew crop and yields are higher than last year because of favourable weather and the efforts of authorities and farmers to prevent diseases. Last year, many cashew farms in the southeastern province, the country8217;s largest cashew producer, were affected by diseases and had low yields, [8230;]

Reference exchange rate up 3 VND at week8217;s beginning
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

The State Bank of Vietnam set the daily reference exchange rate at 23,218 VND per USD on February 17, up 3 VND from the last working day of previous week (February 14). With the current trading band of +/-3 percent, the ceiling rate applied to commercial banks during the day is 23,914 VND/USD and the [8230;]

Imports, exports through Lao Cai border gates surge amid COVID-19
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

The volume of goods imported from and exported to China through border gates in the northern mountainous province of Lao Cai has continuously increased in recent days amid the novel coronavirus disease (COVID-19) outbreak. The increase in trade through the locality8217;s border gates was attributed to relevant agencies8217; efforts to support import-export activities and take [8230;]

Malware found to disguise coronavirus information
Mon, 17 Feb 2020 23:02:01 +0000

Intellasia East Asia News

Malicious codes that come in the form of information on coronavirus allow hackers to harm, modify or copy data or even interfere with the users8217; computers and network. Many people have received email alerts tipping them how to prevent being infected by the new coronavirus, but in fact those mails contained malware which infiltrate the [8230;]

Copyright © AccessVietnam.net, all rights reserved.    Designed and Maintained by Hallisoft