Vietnam Business News

AI drives urban management future
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

The fast growth of Vietnam8217;s economy has seen an increase of the urban population, posing significant challenges to the country8217;s major cities, particularly in terms of transport and urban planning management. Nguyen Duc Kien, director of the Solutions and System Integration Centre for Vietnam Posts and Telecommunications Group (VNPT), gives out solutions for these issues [8230;]

Help needed to push bank peneration
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

The drive towards bank account ownership and paperless and cashless payments requires some assistance. Vietnam has one of the lowest ratios of bank account ownership in Asean, at 31 per cent. But this does not seem to be impacting on the speed of which digital/ paperless transactions are growing. The Vietnamese government has set forth [8230;]

Japan helps Vietnam improve control of food safety
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

The Japan International Cooperation Agency (Jica) signed a grant agreement with Vietnam on October 17 to provide over 1.2 billion JPY (over 11 million USD) for a project to enhance laboratory capacity of the Reference Testing and Agrifood Quality Consultancy (RETAQ) Centre, helping Vietnam better ensure safety of agricultural and fishery products as food. RETAQ [8230;]

Secondhand iPhone market heats up as iPhone 11 arrives
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Listings of older iPhone models have increased in Vietnam after Apple released its latest iPhone 11 last month, with buyers expecting lower prices. The number of iPhone XS Max listings on popular trading site Chotot.com as of Friday had increased by 21 percent compared to before the arrival of the first iPhone 11 models to [8230;]

VN promotes trade, investment cooperation with Algeria8217;s Constantine
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Vietnamese Ambassador to Algeria Pham Quoc Tru has paid a two-day working visit to Constantine province to boost trade and investment with the third largest city of Algeria, which holds strengths in tourism, husbandry, plantation and pharmaceutical industry. During his stay on October 16-17, he had a working session with governor of Constantine Abdessamie Saidoun, [8230;]

Local bakery market poised for growth
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

There is an enormous potential for continued growth in the nation8217;s bakery market, which has increasingly attracted both domestic and foreign businesses due to its annual double digit growth of 20 percent-30 percent and a large market of nearly 100 million people. The local bread and pastry market is expected to record revenues of an [8230;]

Vietnamese port infrastructure needs solutions to keep pace with growth
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

The Vietnamese port industry needs further investment to keep pace with the country8217;s rapid economic growth and reduce logistic costs for businesses. After two plans (in 1999 and 2009) and one adjustment (in 2014), to date, Vietnam has 45 seaports with total capacity of more than 550 million tonnes per year. Major ports are concentrated [8230;]

Real estate loans make up 1/5 of total outstanding loans in Vietnam
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

The 14.58 percent growth rate is higher than the average credit growth of the economy. As of August, real estate loans expanded 14.58 percent against the end of 2018 and accounted for 19.14 percent of total outstanding loans in the economy, according to the State Bank of Vietnam (SBV). Such growth rate is higher than [8230;]

Vietnam, Singapore expand cooperation in logistics
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Deputy prime minister Trinh Dinh Dung on October 18 received Robert Yap, Executive Chair of YCH Groupa leading Singaporean logistics enterprise which intends to invest in developing a logistics centre in Vietnam. According to Robert, after Vietnamese prime minister Nguyen Xuan Phuc8217;s visit to Singapore 2018, the group decided to enter into a joint venture [8230;]

SMEs could enhance e-commerce sales thanks to Alibaba and Fado
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Thanks to the support of Chinese e-commerce giant Alibaba and local platform Fado, local companies8217; sales on e-commerce platforms is expected to improve by a great deal. At the workshop titled 8220;Enhancing SMEs8217; export performance through e-commerce8221; held on October 18, Alibaba.com, Fado, and local garment firm Hanhsilk officially signed an MoU to support local [8230;]

Lazada, Tiki locked in delivery speed race
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Giants Lazada and Tiki are racing to reduce their delivery times as competition heats up in Vietnam8217;s e-commerce market. Singapore-based Lazada Friday launched a 4-hour delivery service for flowers in Vietnam, a move in response to Vietnamese startup Tiki8217;s 2-hour delivery for a large number of products. Nguyen Ngoc Thang, head of express solutions at [8230;]

Vietnam legislation: ready for integration?
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

More transparent legal documents would contribute to dealing with inconsistencies and overlapping regulations and consolidate investors8217; faith. This was put forth by experts and policymakers at the workshop themed 8220;Vietnam legislation ready for integration?8221; organised by the Vietnam Chamber of Commerce and Industry (VCCI) in Hanoi recently. The delegations at the conference provided an update [8230;]

Market likely to move sideways this week
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

The local stock market is forecast to move sideways with mixed trading sessions this week, with a high possibility that the VN Index on the HCM City market will fluctuate within the 987-998 point range, according to local brokerage firms. Investors should remain cautious as there will be a clear differentiation among stock groups, depending [8230;]

VN Agriculture Ministry reassures public that pork shortage will not occur
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Deputy minister of Agriculture and Rural Development Ha Cong Tuan affirmed that the ministry will not allow the pork price to increase dramatically as it has in China. In late 2018, Asian swine fever (ASF) broke out in a number of Asian countries. The epidemic spread to many provinces in China and 200 million pigs [8230;]

Exhibition reflects growth in startup sector
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

More than 150 foreign and Vietnamese startups are exhibiting their products and technologies at HCM City Innovation, Startup and Entrepreneurship Week (WHISE 2019) ending on Saturday. Pham Cao Ky, project manager at Technology Co.Ltd, told Vietnam News: 8220;My company8217;s automatic watering and fertilising machine for plants is being introduced here. We have been working for [8230;]

Taiwanese investors still keen on Vietnam: experts
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

The influx of funding from Taiwanese investors into Vietnam will likely surge in the coming years as investors are seeking to tap opportunities in Vietnam. Vietnam has long been an important destination among Taiwanese investors, with annual pledged capital accounting for one-third of the total funding that investors from Taiwan pumped into the Asean region, [8230;]

Japan adopts new forms of assistance to Vietnam to suit the new situation
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Of the fields of operation in Vietnam, Japan is interested in cooperation to support development not only for infrastructure systems and human resources, but also in agriculture, health care and environment. Although the ODA gives support by new forms of assistance to suit the new situation, Japan will provide the most effective and stable support [8230;]

Listed firms8217; awards to be announced in November
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Nearly 40 listed companies on the two local exchanges will be honoured at the Best Listed Companies Awards 2019 in November. They will be finalists selected from the total 700 listed businesses on the Ho Chi Minh and Hanoi stock exchanges. They will compete for best annual report, best corporate governance report and best sustainable [8230;]

Central city to host Smart city Summit
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

More than 600 participants, including 200 foreign experts, will attend the third Smart City Summit in the central city of Da Nang on October 24. Vice director of the city8217;s information and communications, Pham Ngoc Thach told Vietnam News on Friday that the annual information technology event would be a rendezvous for regional countries, CEOs [8230;]

E-commerce to give firms more export chances: workshop
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Vietnam has been recording strong development in e-commerce, through which businesses will have more chances to promote export, an official said at a workshop in Hanoi on October 18. Dang Hoang Hai, director of the E-commerce and Digital Economy Agency (IDEA) under the Ministry of Industry and Trade, said Vietnam is said to be one [8230;]

The wealth of the top 10 richest Vietnamese billionaires fluctuates year by year
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

While August, or the seventh month of the lunar year, brought good luck to many stock billionaires, September proved to be an unlucky month for them. VIC shares of Vingroup saw the price decrease by VND3,700 per share by the end of September, or 3 percent compared with earlier that month, to VND119,800 per share. [8230;]

Vietnamese catfish exporters struggle to compete with rivals
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

The domestic catfish price has fallen to a 2-year low, while Vietnam8217;s shrimp now has to compete fiercely in prices with rivals, including Thailand and India. After a long period of being the key export sector, bringing $9 billion worth of export turnover in 2018, Vietnam8217;s seafood industry is facing problems. According to the Ministry [8230;]

Haxaco in talks with Korean firm to offload half of shares
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Hang Xanh Motors Service Joint Stock Company (Haxaco) is in talks to reach a share purchasing deal with The Class Hyosung. In a non-binding offer sent to Haxaco, The Class Hyosung a member of the South Korean conglomerate Hyosung Group asked to buy more than 51 per cent of the Vietnamese firm. The bidding price [8230;]

Still difficult for foreigners to buy housing
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Many foreigners are keen to buy high-end apartments in Vietnam but the process is anything but straightforward. Harry Byrne, an Indian manager of a hotel in Hanoi, lives in an apartment provided by his employer even though he has been working here since 2015. He plans to buy an apartment in the future, as the [8230;]

Traditional trade channels still a main draw
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Despite the robust development of e-commerce, traditional trade channels have maintained their domination in Vietnam as they satisfy shopping habits of local consumers. According to a survey recently released by Vietnam Report, up to 98 percent of retailers said most of their turnover comes from brick-and-mortar stores and distributors, while only 2 percent are generated [8230;]

Phu Nhuan Jewellery sees profit up 17 per cent in Q3
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Phu Nhuan Jewellery Company (PNJ), the largest jewellery retailer in Vietnam, recorded VND208 billion in after-tax profit in the third quarter, up 17 per cent year-on-year. The company reported net revenue of VND3.9 trillion in the period, up 25 per cent against last year. Financial expenses in the third quarter rose 78 per cent year-on-year, [8230;]

Fintech needs a 8216;push8217; from policies
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Electronic payment (e-payment) needs a push from mechanisms and policies to soon bring new financial technology (fintech) applciations into the market, creating a push to the market. Domestic and foreign businesses are racing. FlyHigh Company Limited (South Korea) is preparing to launch the BankBe application in Vietnam, a mobile banking platform that integrates uders8217; bank [8230;]

Derivatives pick up in October but signal slowdown in short term
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

The Vietnamese derivatives market has picked up over the last three weeks, with total trading volume nearly reaching the total figure recorded in September. As of October 18, a total of nearly 1.04 million futures contracts had been transferred on the derivatives market, which is under the management of the Hanoi Stock Exchange (HNX). Total [8230;]

Raising the stakes for casinos
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

The pilot programme that allows local residents to gamble at selected casinos is showing positive signs, and the decree that bore the policy is being tweaked to provide increased conditions. Questions are now being raised on whether local players are a main factor for profitability, and if the model will be applied to help casino [8230;]

Nipping crises in the bud
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Local beverage brands need to take consumer feedback on board to avoid any fallout from product crises. With production having begun in 1994, the Tan Hiep Phat Beverage Group (THP) is now one of Vietnam8217;s largest fast-moving consumer goods (FMCG) companies. Taking on obstacles and navigating a brand crisis over recent years in a particularly [8230;]

Limited car output hinders development of Vietnam8217;s support industries
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

CBU (complete built unit) imports have been flooding the Vietnamese market while domestic factories have cut output, raising concerns among car part manufacturers that they may lose jobs. Enkei from Japan entered Vietnam in 2007 as a supplier of car parts to Toyota, Truong Hai, Honda, Nissan and Mitsubishi. Specialising in making alloy cast rims [8230;]

Japan8217;s ODA to Vietnam to focus on issues of global concerns from 2020: Jica
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Japan`s funding should be suitable with Vietnam`s role in promoting climate change resilience, universal health coverage (UHC), and sustainable development goals (SDGs). Japan8217;s official development assistance (ODA) to Vietnam would be adjusted to meet the recipient country8217;s requirements which are updated with fields of global concerns, according to the Japan International Cooperation Agency (Jica). The [8230;]

Reference exchange rate down 1 VND at week8217;s beginning
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

The State Bank of Vietnam (SBV) set the daily reference exchange rate at 23,153 VND per USD on October 21, down 1 VND from the last working day of previous week (October 18). With the current trading band of +/- 3 percent, the ceiling rate applied to commercial banks during the day is 23,843 VND [8230;]

Shares extend losses on weak China growth
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Following negative movements on global markets, Vietnamese shares extended their losses on Friday. The benchmark VN Index on the Ho Chi Minh Stock Exchange slid 0.06 per cent to close at 989.20 points. Nearly 175 million shares were traded on the southern bourse, worth VND3.54 trillion (US$151.3 million). The VN Index lost 0.47 per cent [8230;]

Amazon Global Selling establishes specialised team in Vietnam
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Amazon Global Selling has officially established a specialised team in Vietnam, facilitating international sales for Vietnamese vendors. With the new team, Amazon Global Selling will help train businesses about selling their products on Amazon, including creating lists of items or using FBA (Fulfillment by Amazon) services and other activities. Bernard Tay, Amazon Singapore8217;s director of [8230;]

MobiFone-AVG deal: two former ministers prosecuted
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

The Supreme People8217;s Procuracy on October 19 notified the prosecution of two former ministers of information and communications (MIC) Nguyen Bac Son and Truong Minh Tuan, along with 12 other defendants in relation to the case of the MobiFone8217;s purchase of 95 percent of shares of the Audio Visual Global JSC (AVG). Son and Tuan [8230;]

Multi trillion VND flow re-divides aviation market
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Investors are queuing up to enter the aviation market with trillions dong worth of capital, which is expected to remap the market. A report from the Civil Aviation Authority of Vietnam (CAAV) showed that the growth of the aviation market has slowed down. The number of international and domestic passengers in H1 increased by 14 [8230;]

VietnamTrusted Business Partner of the World
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Vietnam is a trusted business partner of the world. Dr Vu Tien Loc, President of the Vietnam Chamber of Commerce and Industry (VCCI), confirmed this at Vietnam Business Summit (VBS 2019) held in Hanoi on October 16. 8220;VietnamWe mean business8221; He said, in the mid-20th century, Vietnam was known to the world as a war. [8230;]

Government8217;s report: state capital in 4 big banks8217; finance preserved and profitable
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

The government8217;s report recently sent to the National Assembly on the investment, management and use of state capital in businesses nationwide has a separate section on the financial stiaution and business performance of state-owned commercial banks, including Commercial Joint Stock Bank for Industry and Trade of Vietnam (VietinBank), Commercial Joint Stock Bank for Investment and [8230;]

Stock market briefs
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Dairy company FrieslandCampina Vietnam, the owner of Dutch Lady brand, on October 15 cut a deal to set up strategic partnership with Bach Hoa Xanh grocery store chain operator to increase the former8217;s market share. Under the cooperation, Dutch Lady milk products will be displayed at 1,000 stores of Bach Hoa Xanh, with prices being [8230;]

Hanoi apartment prices consistently lower than HCM City8217;s
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Batdongsan.com.vn releases report noting ongoing differences between apartment prices in two cities. The selling price and price growth in the apartment segment in Hanoi are always lower than those in HCM City, according to a quarterly report from Batdongsan.com.vn released on October 15. The selling price in HCM City in the third quarter was VND37 [8230;]

Hanoi to promote tourism in Japan in late October
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

The Hanoi Promotion Agency (HPA) will launch a tourism promotion programme in Japan and join the Tourism Expo Japan (JATA) 2019 in Osaka later this month, aiming to further exploit the nearly 127 million-strong market. Running from October 21-28, JATA 2019 is a chance for Hanoi to introduce its latest tourism products and services to [8230;]

Vietnam named among 20 most favourite countries: Conde Nast Traveler
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Vietnam has appeared among the world8217;s most favourite destinations by many international travel magazines. Vietnam ranks the 10th among 20 most favourite countries in 2019 by the US-based Conde Nast Traveler, a luxury and lifestyle travel magazine. The ranking is based on annual Readers8217; Choice Awards survey in which the travel magazine asked readers to [8230;]

USDA trade chief considered Vietnam major potential importer of US products
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Last year, Vietnam was the seventh largest market for US agricultural products at $4.2 billion. The US sees enormous potential for food and agriculture, fuel and fiber going to Vietnam, according to Ted McKinney, US Department of Agriculture (USDA) under-secretary for trade and foreign agricultural affairs. Wrapping up a four-day trade mission to Vietnam on [8230;]

Japanese insurer invests in Mekong region
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Japanese-based Dai-ichi Life Insurance company has channeled 5.4 billion JPY (50 million USD) into infrastructure development projects in the Mekong region, including Vietnam, Cambodia, and Myanmar. The investment has been done via its purchase of socially responsible Mekong region development bonds issued by the Export-Import Bank of India (Exim Bank) on October 17. The 3-year [8230;]

TH Milk becomes first exporter of milk to China
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

TH Milk Joint Stock Company has become the first Vietnamese firm to receive approval from the general Administration of Customs of China to export dairy products to the Chinese market. According to the Vietnamese Embassy in China, China has granted transaction codes to TH Milk8217;s sterilised and modified milk products. The Chinese general Administration of [8230;]

Vietnamfirst choice of many industrial sectors: Forbes
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

For many industries, Vietnam has become their first choice in this manufacturing diaspora, said an article on Forbes recently. In his article, Warren Shoulberg noted that Vietnam has always had a heritage for handcrafted products. One of the industries in the forefront of the great Vietnam surge has been furniture. In a video report on [8230;]

Striving for a made-in-Vietnam digital economy
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Phrases such as online purchase, online taxi booking or online food orders have become familiar. The benefits for consumer welfare are clear, but do Vietnamese firms stand to gain too? Five or seven years ago, it seemed unlikely that people would be able to purchase practically everything, from groceries and clothes to expensive goods such [8230;]

Japan8217;s NEC and Sumitomo to develop $180 million weather satellite for Vietnam
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

The Vietnamese government plans to launch the earth observation satellite as soon as 2023. Japan8217;s NEC and Sumitomo agreed on Friday to a contract worth $184 million to develop satellite LOTUSat-1 for the Vietnamese government that will help predict severe weather and survey the resulting damage, Nikkei Asia Review reported. This marks the first time [8230;]

Vietnam begins to realise marine aquaculture potential
Mon, 21 Oct 2019 23:02:02 +0000

Intellasia East Asia News

Coastal aquaculture is being developed in many localities but the output is very small compared to the country8217;s potential, experts have said. Coastal aquaculture is being developed in many localities but the output is very small compared to the country8217;s potential, experts have said. The marine aquaculture area and output increased by 20 percent every [8230;]

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