Vietnam Business News

The Ministry of Finance proposes reducing import tax on some foods
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

The Ministry of Finance wants to reduce import tax on some foods and has asked ministries and organisations for opinions on the idea. The ministry proposed cutting import tax on some agricultural products such as chicken, pork, fresh apples, fresh grapes and raisins. Some chicken products and by-products would see their import tariffs cut from [8230;]

City8217;s bad debt ratio contracts
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

Banks in HCM City have handled over VND72 trillion worth of nonperforming loans since the start of this year, cutting the bad debt ratio to 2.2%, equivalent to some VND49 trillion, according to a Sai Gon Giai Phong news report. If bad debts at GP Bank, Ocean Bank and CB, which were purchased by the [8230;]

Vietnam Airlines wants caps removed on domestic ticket prices
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

National flag carrier Vietnam Airlines has proposed that price caps on domestic air tickets be removed to allow carriers more pricing flexibility. The current price ceiling makes it difficult for airlines to diversify their prices, increase profits during certain time periods like peak seasons, and in turn lower prices on some routes, Le Hong Ha, [8230;]

PVN achieves total revenue of VND685 trillion in 11 months
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

The Vietnam Oil and Gas Group (PVN)8217;s total revenue was estimated at VND685 trillion (US$29.5 billion) in first 11 months this year, an increase of 12 per cent compared with the yearly plan. The group expects to gain the total revenue of VND708.5 trillion for this year, 16 per cent higher than estimated. In the [8230;]

Infrastructure developers await law on PPP
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

The National Assembly is working on an investment law on public-private partnerships (PPP) which investors hope will settle legal conflicts. A report shows that 336 works have been implemented under the PPP mode, including 140 BOT (build, operation, transfer) and 188 BT (build, transfer) projects. Under the PPP mode, the State and investors join forces [8230;]

Banking activities enters a significant relocation
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

Banking activities in Vietnam did and would have to be repositioned, even strategically, after a series of policy articles. In an internal forecast released this week, several market research officials at commercial banks had the same estimate. At the end of this year, one-week dong interest rates on the interbank market would continue to anchor [8230;]

Saigon Co.op opens first Finelife supermarket in HCM City
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

Saigon Co.op has launched a new retail model targeting wealthy customers with the opening of a Finelife Foodstore supermarket in HCM City8217;s District 10 on Saturday. The store in the Ha Do Residential Area at 200 3/2 Street spreads over 660sq.m and sells 4,000 high-grade products, including fresh and processed foods, cosmetics, household utensils, and [8230;]

New carrier KiteAir plans June takeoff
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

KiteAir, an airline established by hospitality group Thien Minh, hopes to launch its first flight next June after getting the prime minister8217;s nod. The delay of three months over the original schedule was required as Thien Minh Group awaited investment approval from prime minister Nguyen Xuan Phuc, its Chair Tran Trong Kien told VnExpress Monday. [8230;]

Vietnam struggles to meet car localisation target
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

Vietnam8217;s 20-year auto industry is still far away from meeting its localisation target to better compete with regional competitors. https://e.vnexpress.net/infographics/industries/vietnam-struggles-to-meet-car-localisation-target-4017317.html

Reference exchange rate down 4 VND on December 10
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

The State Bank of Vietnam set the daily reference exchange rate at 23,163 VND/USD on December 10, down 4 VND from the previous day (December 9). With the current trading band of +/-3 percent, the ceiling rate applied to commercial banks during the day is 23,858 VND/USD and the floor rate 22,468 VND/USD. The opening [8230;]

HCM City set to host Vietnam Young Leaders Forum
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

The 2019 Vietnam Young Leaders Forum to be held in HCM City on Friday is expected to create opportunities for young business and other people to learn from successful enterprises and start-ups. It is expected to enable participants to find solutions to difficulties they face in their business and inspire entrepreneurship and a positive mindset [8230;]

BRG Group Thrives in Vietnam8217;s Golden Private Sector Era
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

A recent World Bank report proclaimed Vietnam among the most dynamic emerging countries in Southeast Asia. Today, having successfully transitioned from a centrally-planned economy to a socialist-oriented market economy, the private sector is the main driving force behind the country8217;s dynamic economic growth Vietnam8217;s private sector now contributes 43 per cent of the country8217;s GDP [8230;]

Vietnamese enterprises urged to prepare for changes in tax policy
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

These policies not only introduce new tax treatments such as e-commerce transactions, re-auditing or the application of penalties, but also introduce new regulations of tax compliance and audit management. A number of steps are needed for Vietnamese enterprises to comply with tax regulations and ready for changes in tax policy, as well as avoid potential [8230;]

Competition authority warns of online loan scams
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

The Ministry of Industry and Trade8217;s Vietnam Competition Authority (VCA) has warned local consumers to be cautious about taking out online loans amid rampant scams. According to VCA, online loans are available in Vietnam, but the legal framework for this kind of lending hasn8217;t been issued yet. As a result, this model puts borrowers at [8230;]

Novaland Expo makes strong impression on visitors, investors
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

Novaland Expo, which closed in HCM City on December 8, made a strong impression on domestic and foreign customers and investors. The five-day event attracted nearly 20,000 visitors. Novaland Expo, which closed in HCM City on December 8, made a strong impression on domestic and foreign customers and investors. The five-day event attracted nearly 20,000 [8230;]

New Hue-Da Nang bus route service to launch
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

The central city of Da Nang and Thua Thien-Hue Province plan to launch a shuttle bus network to serve 14,000 commuters and tourists between the two cities each day from January of 2020. Da Nang City8217;s transport department said the new public bus network was upgraded from current bus route between the two locals with [8230;]

New Trade Surplus Record Set
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

Vietnam8217;s trade surplus hit a new record high, according to the general Statistical Office (GSO). Vietnam8217;s exports reached over $241 billion in the past 11 months of 2019, up 7.8 percent from a year ago, while its imports rose 7.4 percent year-on-year to $232.31 billion in the reported period. The trade surplus totalled over $9.1 [8230;]

BIDV has issued the most bonds from the beginning of the year
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

A recent report of MB Securities Joint Stock Company (MBS) said that the majority of corporate bonds successfully issued in the first 11 months came from real estate and banking businesses. In November, the majority of successfully issued corporate bonds came from the commercial banks such as Joint Stock Commercial Bank for Investment and Development [8230;]

Vietjet launches direct flights on Vietnam-New Delhi routes
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

Budget airline Vietjet on Monday launched two direct flights from Hanoi and HCM City to New Delhi. Vietjet is the first airline connecting the two biggest economic, cultural and tourist centres of Vietnam and the capital of India. The HCM City-New Delhi route operates four return flights per week. The flight departs from HCM City [8230;]

Better tourist experiences would lead to repeat visits: experts
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

The number of foreign visitors to Vietnam has been growing at a two-digit rate, but the return rate is low at somewhere between 10-40 per cent, experts said at the Vietnam Travel 38; Tourism Summit 2019, that opened in Hanoi on Monday. According to statistics of the Vietnam National Administration of Tourism under the Ministry [8230;]

Vietnam may see negative impact from trade war in 2020: economists
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

8220;We think that in 2020-2022, Vietnam may face negative impact from the trade war instead of short-term positive impact, 8221; said Tran Toan Thang from the Centre for Socio-Economic Information and Forecast (NCIF). Vietnam8217;s 2016-2020 socio-economic development plan has gained impressive achievements despite difficulties. According to Dang Duc Anh, deputy director of NCIF, Vietnam8217;s GDP [8230;]

Banks increasingly satisfy customers
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

With active support of technologies, banks are constantly developing and innovating services to attract customers. Banks8217; products and services are increasingly convenient with lower and lower costs. Banks even launch series of promotions each day in various forms. However, it is easy to see that banks are making good profit from service revenue. For example, [8230;]

Several real estate, construction firms owe large amount of tax arrears
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

The HCM City Department of Taxation has just publicised more than 1,500 enterprises owning tax with total tax arrears, fines and late payment of more than VND3.3 trillion. Noticeably, real estate and construction enterprises were the group with highest tax arrears. Duc Khai Joint Stock Company in District 7 led the group with tax arrears [8230;]

Foreign investment increases in wood processing industry
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

Foreign direct investment in the wood processing industry has increased rapidly, especially since 2018, the Vietnam Timber and Forest Product Association has said. In the first nine months of the year foreign investors had registered to invest the same amount as in the whole of 2018, it quoted the Ministry of Planning and Investment8217;s Foreign [8230;]

Fruit, vegetable exports slip
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

Revenue from fruit and vegetable exports generated an estimated $3.5 billion in the January-November period, marking a year-on-year decline of 0.6%, according to the Agro Processing and Market Development Authority. China, the country8217;s largest fruit and vegetable importer, accounted for 66.8 percent of Vietnam8217;s total exports, but its spending on Vietnamese produce fell 13.7 percent [8230;]

Interest rate fall has not benefited individuals and businesses
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

The State Bank of Vietnam (SBV) has issued a series of decisions to lower regulating rates, short-term deposit rates, priority sector lending rates, and compulsory reserve interest rates of banks at SBV8230; How will these decisions affect borrowers? Curb interest rate race Immediately after SBV announced to reduce the ceiling deposit rate for short-term deposits [8230;]

Korea introduces products in Hanoi
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

The Seoul trade promotion agency has recently boosted many commercial promotion activities in Hanoi to introduce South Korean products to the local market. On Saturday, the South Korean agency in collaboration with Vietnam Television Cable Corporation (VTVcab) held an event, called 8220;Seoul Made Street,8221; at the Vincom Royal commercial centre to offer Seoul-made products to [8230;]

The Marqtimeless elegance
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

Throughout eternity, elegance has been an abstract, elusive concept; a criterion we turn to when describing the style of clothes, cuisine, and living space. For the successful and sophisticated among us, a true elegant living space is a place which features perfect harmony in every detail of colors and materials. The Marq, a luxury condominium [8230;]

Vietnam strives to join upper middle-income countries
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

While growth in most regions has slowed down, Vietnam8217;s economy is recovering strongly with GDP expanding by an average 6.84 percent during the 2016-2020 period, beating the set target and marking the highest figure in the past three five-year periods. Such an impressive performance will lay a solid foundation for Vietnam to become a upper [8230;]

Strong advocator of Vietnam8217;s business development
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

When it comes to corporate social responsibility, Shinhan Bank chooses the rougher path: helping develop new startups for the local economy. Over the past three years, many Vietnamese startups have emerged and gained initial success owing to the support from the South Korean bank. The initiative to support Vietnamese startups stemmed from the success of [8230;]

Aviation service market promising
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

The number of aircraft in Vietnam and Asia Pacific is expected to double in the next 20 years, increasing demand for aviation services. From 2019 to 2038, airlines worldwide will need 44,000 new aircraft, including 17,000 aircraft (39 percent) for Asia Pacific. Southeast Asian airlines will need 4,500 aircraft and Vietnam will be one of [8230;]

Off-season dragon fruit fetches high price for Tien Giang farmers
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

Farmers in the Mekong Delta province of Tien Giang have begun harvesting off-season dragon fruit, earning high incomes. Farmers in the Mekong Delta province of Tien Giang have begun harvesting off-season dragon fruit, earning high incomes. In recent years, farmers have been using advanced farming techniques to grow off-season dragon fruit to avoid an oversupply [8230;]

Shorter working week on way
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

Opinions are unsurprisingly mixed about proposed amendments to the Labour Law that would see the average working week cut by a few hours. A recent proposal from the Vietnam general Confederation of Labour (VGCL) on reducing employees8217; working hours has, needless to say, attracted a lot of attention from both workers and businesses. Though opposing [8230;]

BIDV to hold extraordinary meeting on December 27th
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

Commercial Joint Stock Bank for Investment and Development of Vietnam (BIDV) has announced information on the extraordinary general Shareholder Meeting in 2019. The scheduled time is December 27th in Hanoi. This meeting is to approve the contents under the authority of the Shareholders Meeting. Recently, BIDV successfully sold 15 percent of charter capital to KEB [8230;]

Quang Ninh amp; Ha Long Bay booming
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

Nguyen Hong Nhat, vice President of Sales and Marketing at Paradise Vietnam, gave VET an overview of the tourism market in Quang Ninh and Ha Long Bay this year and the opportunities and challenges for Paradise Vietnam in 2020. * Quang Ninh province in general and Ha Long Bay in particular saw positive changes in [8230;]

Potential Risks for the Vietnamese Economy
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

While Vietnam8217;s economy has displayed relatively robust economic growth over the past few decades, various short-term and long-term risks threaten to reverse this trend. After years of reform, the country began integrating with the international economic system, notably joining Asean in 1995 and the WTO in 2007. Partially as a result of such developments, the [8230;]

Strong demand spurs local market
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

nvestors8217; rising demand pushed up the VN Index of the Hochiminh Stock Exchange today, December 9. Closing the day, the main index added 2.5 points, or 0.26%, against the session last Friday at 966.06. Market breadth was positive with 187 gainers and 150 decliners. The HCM City bourse saw 273.26 million shares worth more than [8230;]

Fraser Suites Hanoi celebrates 10 years of hospitality, friendship
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

Vietnam8217;s leading serviced apartment provider has continued to enjoy steady occupancy rates as tourism industry boasts strong growth as Fraser Hospitality, a member of the Fraser Property Group, celebrated the 10th anniversary of Fraser Suites Hanoi on Saturday. To mark the occasion, guests, corporate clients, business partners and staff came together to enjoy a celebratory [8230;]

Stabilising pork prices
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

Vietnam8217;s total pig herd was estimated at 25 million pigs, including 2.7 million sows, the Ministry of Agriculture and Rural Development said at the government8217;s regular meeting in November. About 85 percent of communes in 14 provinces across the country have reported no case of African swine fever (ASF) in the past 30 days and [8230;]

Shares end on mixed note with unclear macro signals
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

Shares ended Monday on a mixed note with the growing momentum of the market weak without clear macro domestic and foreign signals. On the Ho Chi Minh Stock Exchange, the VN Index edged up 0.26 per cent to close at 966.06 points. Meanwhile, the HNX-Index on the Hanoi Stock Exchange was down 0.13 per cent [8230;]

Binh Duong province proposes new railway route
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

Binh Duong province is studying a project to build a railway route that would extend from the province to HCM City and Dong Nai and Ba Ria-Vung Tau provinces to transport goods in the southern key economic region. The railway routes will have a total length of 100km and will connect Binh Duong province8217;s industrial [8230;]

Vietnam needs to remove fishing yellow card
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

Pham Anh Tuan, vice chair of the Vi?t Nam Fishing Association, talks on the need to follow all recommendations from the European Commission (EC) to get the yellow card on fishing removed. Why is lifting the yellow card so important to the Vietnamese fishing sector? The lifting of the yellow card over illegal, unreported and [8230;]

Stock market briefs
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

Vietnam Dairy Products JSC (VNM) will buy more shares of GTNFoods JSC (GTN) to raise its ownership in GTN to 75%. VNM currently owns nearly 108 million GTN shares, or 43.17%. After VNM announced its plan to buy more GTN shares, the GTN board has refused to sell but major shareholders of GTN have sold [8230;]

Singapore organic food brand comes to Vietnam
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

Ryan8217;s Grocery, a Singaporean organic products brand and the first foreign franchise in the sector in Vietnam, has opened a store in HCM City. It has partnered with PM Quynh Lam. The store, at 200 Pasteur Street, is over 400sq.m and sells 600 types of products including meats, vegetables, dried foods, etc. It also has [8230;]

The exchange rate may increase by 1-2pct in 2020
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

The November capital market report of Saigon Securities Incorporation (SSI) Research showed that the interbank interest rates sharply rose in the second half of November while the US dollar interest rate fell by about 25 basis points after the third interest rate cut of the US Federal Reserve (Fed) in the end of October which [8230;]

Central city to see more three new direct flights
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

New daily regular air routes connecting Da Nang City with Taiwan, Hong Kong and Singapore start from December 12, offering more options for local and foreign tourists as well as businesspeople travelling in the New Year. The city8217;s tourism department said at a meeting last week the new daily air routes would promote tourism, investment [8230;]

Province to develop facility to serve cruise ships
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

With cruise ships visiting Ba Ria Vung Tau having to dock at cargo ports, the province plans to build a new facility to serve cruise ships that bring cash-rich tourists to its shores. Since 2008, an increasing number of international cruise ships have visited the province, which is located near seaport centres such as Hong [8230;]

VNPAY honoured with Outstanding Fintech Award 2019
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

Passing many rounds of rigorous evaluation by the Voting Council, VNPAY has recently been honoured as one of the outstanding fintech companies of 2019 at the Vietnam Outstanding Banking Awards 2019. The annual awards have been organised by IDG and the Vietnam Banking Association since 2012, with the aim of finding and honouring banking products [8230;]

Calm amp; engaged at The Anam
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

The first true five-star colonial beach resort in Vietnam, The Anam is a haven of serenity and service, harking back to a bygone era. We visited The Anam for a very short break one weekend in October. It was not our first trip to the resort, and we had long planned to return to this [8230;]

How do enterprises perform after they are bought by Thai firms?
Tue, 10 Dec 2019 23:02:01 +0000

Intellasia East Asia News

Thai groups have invested in many business fields in Vietnam, from goods production to retail. The takeover of Sabeco, the brewer, and Binh Minh Plastics are two of the recent biggest deals made by Thai investors. Sabeco brings big money to Thai billionaire In late 2017, Sabeco (SAB, HOSE) the biggest brewer in Vietnam, was [8230;]

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