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BUSINESS IN
BRIEF 4/12
Thu Thiem’s land prices forecast to rise 30-35%
Land
prices in Thu Thiem New Urban Area in District 2, HCMC are forecast to
increase 30-35% in the coming time, according to property services provider
Jones Lang LaSalle (JLL).
JLL
said prices of residential units in the peninsula are currently 30-35% below
District 1’s levels.
Meanwhile,
in
Stephen
Wyatt, country head at JLL Vietnam, said Thu Thiem’s average land price is
roughly one-third of District 1 and relatively low compared to neighboring
districts such as Districts 3 and 4.
However,
he added, with the establishment of Thu Thiem projects and some improvement
in the legal and planning framework, it is reasonable to say that land prices
will continue to increase in the coming years.
Land
prices in Thu Thiem have picked up by 30 to 40% over the past three years.
JLL said this is a record but appropriate rise as prices were rather low
initially. A majority of housing projects there are selling well.
In
Thu Thiem, some 45% of the total development areas have been officially
approved through build-transfer agreements. Dai Quang Minh is developing the
US$2.2-billion Sala housing project in Thu Thiem.
Around
10 investors have developed projects worth about US$5 billion. In addition to
the Sala project, some other major projects include the
Many
overseas investors from
The
pace of development in Thu Thiem remained stagnant mainly because of land
compensation issues.
As
of this June, 99% of the total area in Thu Thiem had been fully compensated
for, according to the District 2’s Resettlement Committee. 87 land lots have
yet to be compensated for, including 83 households and four religious
establishments.
Land
has largely been handed over to investors but many lots of land there have
yet to be developed, according to Stephen Wyatt.
Many
investors revealed it was difficult for them to estimate the investment
timeline and return, due to the lack of transparency in the investment
procedure, he stressed.
He
added developers, especially those with a strong investment appetite for
commercial properties, are still waiting for more incentive policies for this
area.
The
657-hectare new urban area is located opposite to District 1. Comprising 176
land lots with roughly 3.2 million square meters of residential space and 3.4
million square meters of commercial space, the total peninsula will
eventually accommodate 145,000 residents plus 217,000 workers.
Vietjet to pay 60% dividend for this year
Budget
carrier Vietjet Air (HoSE: VJC) is collecting shareholders’ opinions on
increasing the estimated 2017 dividend payout from 50 per cent to 60 per
cent, including a maximum of 40 per cent cash dividend.
If
approved, the estimated 2017 dividend payout ratio will be 60 per cent, with
the cash dividend rising from 30 per cent to 40 per cent. The purpose of
collecting shareholders’ opinions is to make the necessary arrangements for
the advanced second dividend payment in 2017.
Vietjet
is also seeking shareholders’ opinions on a change of business line and the
address of its headquarters to
In
mid-August, Vietjet advanced VND645 billion ($28.3 million) for a 20 per cent
cash dividend payment in 2017. Prior to that, it also paid a 40 per cent
bonus share dividend and finalized the 2016 cash and bonus share dividend
payment at a rate of 119 per cent.
Vietjet
is the first airline in
Vietjet
is an official member of the International Air Transport Association (IATA)
and has IATA Operational Safety Audit (IOSA) certification. In addition to
being named among the “Top 500 Leading Brands in Asia 2016” and the “Best
Employer Brand” in Asia for many consecutive years, Vietjet was also voted
“Best Asian Low Cost Carrier in 2015” at the TTG Travel Awards and is among
the Top 3 growing carriers on Facebook, as voted by Socialbakers.
Vietjet
is now operating 45 A320 and A321 aircraft, conducting about 350 flights a
day and carrying some 40 million passengers on 73 routes to destinations in Vietnam
and to Hong Kong, Singapore, South Korea, Taiwan, China, Thailand, Indonesia,
Myanmar, Malaysia, and Cambodia.
The
airline plans to expand its Asia-Pacific network and purchase modern aircraft
from leading manufacturers.
Polish group acquires Vietnamese pharma company
The
Adamed Group from
The
share purchase agreement was signed in
The
transaction is the largest direct Polish investment in
The
deal provides for an extensive investment plan, including the transfer of
Adamed’s knowledge and expertise. The purchase agreement was signed by Dr.
Małgorzata Adamkiewicz, Director General of the Adamed Group, and Mr. Pham
Tai Truong, the founder of Dat Vi Phu, on November 28.
Dat
Vi Phu manufactures a wide range of medicinal products for both the
Vietnamese and neighboring markets. “We consider our investment to be a
launch pad for the further dynamic expansion of the Adamed Group into the
Asia-Pacific region,” said Dr. Adamkiewicz. “I’m convinced that, in view of
the scale of this transaction and further investments into the development of
the company, our undertaking will constitute a milestone in strengthening
economic relations between
In
its more than ten years in the business, Dat Vi Phu has acquired a sizable
share of
The
investment forms part of the internationalization of the Adamed Group. It
recorded a 15 per cent increase in export revenues in 2016 and aims to
constantly grow its foreign sales.
Dat
Vi Phu was established in 2004 and manufactures nearly 300 medicinal products
in most therapeutic classes. It is the fastest-growing company in
The
consumer price index (CPI) in
Prices
of seven out of 11 commodity groups experienced slight increase, with the
highest rise of 0.8 percent seen in transport, attributable to the impact of
gasoline price adjustment in the month.
Other
goods with higher prices included food and catering services (0.27 percent),
beverage and tobacco (0.15 percent), home appliances (0.15 percent), garment,
hat and footwear (0.03 percent), housing, electricity, fuel and construction
materials (0.02 percent) and culture, entertainment and tourism (0.01
percent).
Meanwhile,
prices of medicine and healthcare services, education, telecommunications and
other goods and services remained stable in the month.
In
contrast, the price of gold dropped 0.08 percent and that of US dollar
declined 0.04 percent from the previous month.
Vietnam Expo 2017 to open in HCM City
The
15th Vietnam International Trade Fair (Vietnam Expo 2017) will take place at
the Saigon Exhibition and Convention Centre in
The
expo continues to be an important bridge to connect Vietnamese and foreign
enterprises, allowing them to meet and exchange views on business
cooperation.
It
is also a destination where policymakers can update latest waves of market
and producers can popularise their trademarks as well as expand consumption
network.
This
year’s event will feature 800 booths of 750 businesses from 16 countries and
territories including India, Taiwan (China), Germany, the Republic of Korea,
Indonesia, Malaysia, the US and China.
On
display will be various products such as electronic devices and products,
hardware products and hand tools, construction materials and household
products-consumer goods.
According
to the Vietnam National Trade Fair & Advertising Company (Vinexad),
participating companies want to introduce their new items for 2018 with the
aim of seeking customers’ feedback for evaluating the market’s demand.
Numerous
activities will be held in the framework of the event, notably a trade
exchange between Vietnamese and Chinese electromechanical firms.
A
seminar on
A
talk on infrastructure quality and construction of Asia’s future, with the
participation of
According
to the organising board, 520 businesses showcased their products at the 2016
expo, which attracted 11,650 visitors.
SMEs urged to use energy efficiently
Small-
and medium–sized enterprises (SMEs) in industrial production were urged to
develop green growth strategies to improve business efficiency and protect
the environment, experts said at a conference held by the Central Institute
for Economic Management (CIEM) on Wednesday.
Trinh
Duc Chieu, Deputy Head of CIEM’s Corporate Development and Reform Department,
said that a large number of SMEs still used outdated and energy-consuming
technologies, despite the Government’s push to promote green growth.
Chieu
cited a survey that found 75 per cent of processing and manufacturing
enterprises in Ha Noi said that their energy consumption was higher than the
world’s average.
In
2015, 53 per cent of companies in the processing and manufacturing industry
used technologies which were developed more than six years ago and only 14
per cent invested in technologies that had hit the market within the three
most recent years.
In
addition, most SMEs did not conduct reports on their energy consumption and
their awareness about the importance of using energy efficiently remained
low.
SMEs
made up around 17 per cent of companies operating in the manufacturing and
processing industry – the sector which consumed the most energy, accounting
for 43 per cent of the country’s total energy consumption.
According
to Chieu, the lack of support and inconsistencies in policies has not
encouraged SMEs to use energy more efficiently. Besides, the development of
renewable energies still dramatically lags demand.
“It
is important for SMEs to enhance energy use efficiency, which will help cut
production costs, improve quality, increase profits and develop in a
sustainable way,” Chieu said.
Moving
towards green growth, using natural resources and energy more efficiently,
will increase resilience to climate change.
Chieu
said the legal framework on energy must be improved to encourage energy efficiency
and prod SMEs to shift towards renewable energies.
According
to Nguyen Dinh Khuyen from the General Statistics Office, an energy data
system should be developed to provide information for analysis in order to
craft appropriate policies.
At
the conference, experts also said that tax and credit policies should be
established to encourage the development and use of renewable energies and so
that SMEs will update their technologies.
Uber, Grab to face tax inspection next year
The
General Department of Taxation has asked tax offices to prepare inspections
of enterprises next year, especially ride-hailing services firms Uber and
Grab, Tien Phong newspaper reports.
Local
tax authorities will have to check the fulfillment of tax obligations of at least
18.5% of enterprises under their supervision.
In
addition, hospitals, credit institutions, hotels, restaurants, casinos,
seaports and companies in fuels, aviation, pharmaceutical products, tourism,
automobiles, construction, real estate, mining and online business sectors
will be subject to tax inspections.
Tax
agencies will have to pay attention to enterprises involved in transfers of
capital, brands and projects, and also attend more to those declaring losses
over the years or generating lower profit than other enterprises in the same
sector.
According
to the General Department of Taxation, Grab has operated in
Grab
earned nearly VND1.8 trillion and paid over VND9.5 billion in tax between
2014 and last year. After inspections, the HCMC Department of Tax has
required Grab to pay an additional VND2.9 billion.
Meanwhile,
Uber posted revenue of a combined VND2.7 trillion in the last three years and
the first haft of this year and paid VND76.8 billion to the State budget. The
ride-hailing service provider will also have to pay an additional tax sum of
VND66.6 billion.
Real estate business increases up to 60.5 percent
The
Ministry of Planning and Investment reported that the country had nearly
11,000 newly established companies in November, 2017.
From
January to November, around 140, 394 nationwide enterprises were established
and re-operated with total newly registered capital of US$ 119.5
billion.
Of
the number, around 41, 627 firms operated in the fields of business, retail,
repairing, automobiles and motorbikes, accounting for 35.9 percent; 14,846
enterprises in the sectors of processing and manufacturing industry accounted
for 12.8 percent; 14,695 companies in construction accounted for 12.7 percent
and 8,663 ones in the sectors of science and technology; consulting services,
design, advertisement and other professional accounted for 7.5 percent etc…
The
average density of registered capital per an enterprise reached at VND 9.8
billion in the first 11 months of 2017, up 24.3 percent compared to the same
period last year.
This
year’s rate of enterprise increase in real estate sector accounted for 60.5
percent over the same period of 2016.
In
the first eleven months of 2017, total newly registered capital of real
estate increased up to VND 314, 2 trillion, accounted for 27.8 percent of
total registered capital of the country.
Aside
from real estate, the fields of business, retail, repairing, automobiles and
motorbikes had total registered capital of VND 182 trillion accounted for
16.1 percent, and total registered capital of construction was at VND
155.3 trillion.
Footwear exports enjoy 13 percent rise during Jan-Oct
The
export turnover of Vietnamese footwear products hit 11.82 billion USD in the
first ten months of 2017, up 13 percent year-on-year.
Exports
to
The
Vietnam Leather, Footwear and Handbag Association predicted that the footwear
sector’s production will enjoy a growth rate of 5 percent this year compared
to last year, while the export value of footwear and handbags will reach
nearly 18 billion USD, or a 10-percent rise a year-on-year.
Franchise restaurants boom in Vietnam
Not
only are Vietnamese restaurateur reaching out to foreign brands to import
their business models, global franchisors now view Vietnam as a huge
potential market to expand their network.
Popular
global franchise brands like Little Caesars, Jumbo Group, The Boiling Crab,
and Element Fresh have all sat down with Vietnamese partners in preparation
for their entry into the 94-million-strong market.
Presently,
Most
of these franchises are currently flourishing in the country’s largest hubs
of
William
Schreiber, vice-president of international development for
The
third-largest pizza chain in the
Recently,
Singaporean seafood restaurant group Jumbo also partnered with a Vietnamese
company to launch the franchise locally, having made successful entrances in
Other
popular franchises like Grimaldi’s Pizzeria, Boiling Crab and Presotea have
announced their intention to open stores here.
With
prices that target middle-income earners, restaurant franchises are becoming
increasingly popular with the younger generation in
Vietnam-based
Golden Gate Group, one of the first in the country to conduct business with
foreign franchisors, has until now successfully imported and operated 22
restaurant franchises ranging from barbecue, hot pot to beer clubs.
In
2016, the firm reported revenue of VND2,628 billion (US$115.77 million), a 524%
growth rate on 2013.
With
its current network of 201 locations across
According
to Hoang Tung, owner of the Vietnamese pizza chain Pizza Home, the cost of
franchising a popular brand can amount to VND1 billion (US$44,000), not to
mention a percentage of revenue paid regularly to the franchise owner.
People
line up outside
Despite
the overwhelming number of success stories in
Examples
include fast-food restaurant Subway and coffee houses such as Gloria Jean's
Coffees, The Coffee Bean & Tea Leaf and N.Y.D.C.
“Not
many Vietnamese franchisees have the experience to run restaurant franchises
on a large scale, which often results in fatal mismanagement once the number
of locations reaches the hundreds,” an official from the Ministry of Industry
and Trade asserted.
“They
still have a lot to learn from foreign restaurateurs.”
Son La ships first batch of passion fruit to France
Nafoods
Group has exported the first two tons of passion fruit to
Nafoods
has got a licence from northern Son La province to grow and process Passion
Fruit. Currently, the company is growing the fruit on more than 500ha in two
districts of Moc Chau and Thuan Chau with an estimated output of more than
12,000 tons this year.
The
export of Passion Fruit to
Son
La has so far exported tea, plums, mangoes, and honeybee to overseas markets.
SOEs
able to apply book building for IPOs in 2018
Vietnam’s company to plant 500 ha of rubber in Laos
Quang
Tri Rubber Co. Ldt., a subsidy of the under the Vietnam Rubber Group (VRG),
will plant 500 hectares of rubber and build a rubber processing factory in
Saravane province, Laos under a land leasing contract signed on November 29
in Vientiane.
The
project has a total investment of US$ 10 million with an operational duration
of 30 years.
Speaking
at the signing ceremony, Deputy Minister of Planning and Investment Khamlien
Phonsena welcomed the project, stressing that it would contribute to
facilitating the socio economic development, reducing poverty and creating
jobs for local residents in the Saravane province.
As
the project was signed in
He
asked the Quang Tri Rubber Co. Ldt to implement the project in accordance
with its schedule while observing Lao law on environmental protection and Lao
Government guideline for clean and green growth.
He
also affirmed that Lao authorities and relevant ministries and sectors would
create more favourable condition for the project’s deployment.
For
his part, Van Luu, Director General of Quang Tri Rubber Co. Ldt expressed his
thanks for the Lao Government for the signing of the project, pledging that
his company would keep the project on track and closely follow Lao law and
regulations during its implementation.
Over VND2.7 quadrillion pumped in
Over
VND2.7 quadrillion (US$118.8 billion) has been pumped in the national economy
over the past 11 months thanks to the establishment of more than 116,000
enterprises and the capital expansion of more than 32,200 others during the
11-month period.
According
to the General Statistics Office (GSO), the country witnessed the
establishment of more than 116,000 firms in the January-November period with
a total registered capital of over VND1.1 quadrillion (US$48.4 billion), up
14.1% in the number of enterprises and up nearly 42% in terms of registered
capital compared to the corresponding period in 2016. The total number of
workers registered at newly established enterprises was more than one million.
During
this period, more than 32,200 enterprises have registered to increase their
capital with a total supplemented capital of over VND1.5 quadrillion (US$66
billion) which has helped raise the total newly registered and supplemented
capital of enterprises to over VND2.7 quadrillion in 11 months.
The
GSO stated that the average registered capital per new enterprise reached
VND9.8 billion (US$431,200), an increase of 24.3% compared to the same period
last year.
In
addition, 24,349 enterprises have resumed their operations during the
11-month period, raising the total number of newly established firms and
firms returning to operations to more than 140,000 in 11 months.
The
wholesale and retail sector reported the highest number of newly established
firms which accounted for 35.9% of the total number of newly set up firms.
Meanwhile, the manufacturing and processing industry accounted for 12.8% of
the total number of newly established firms and the construction sector made
up 12.7% of the total number of newly established firms.
In
the January-November period, more than 10,800 enterprises have registered to
dissolve with 91.6% of them being small enterprises with the capital size
less than VND10 billion (US$440,000) each and more than 55,600 enterprises have
suspended their operations.
Industrial production index continues to make breakthrough
The
industrial production index (IIP) in the first 11 months of 2017 was reported
at a year-on-year increase of 9.3%, which was much higher than the 7.4%
growth level of the same period last year, according to the General
Statistics Office (GSO).
Accordingly,
industrial production sectors continued to see high growth, with the
manufacturing and processing industry growing 14.4%, contributing 10.1
percentage points to the general IIP growth.
The
power production and distribution sector surged by 9.6%, contributing 0.6
percentage point, while the water supply and waste and wastewater treatment
sector soared by 7.7%, contributing 0.1 percentage point to the 11-month IIP
increase.
Meanwhile,
the mining industry decreased by 7.1%, therefore reducing the overall IIP by
1.5 percentage points.
Some
cities and provinces with large industrial scale posted high IIP growth
during the January-November period, including Bac Ninh (up 35.5%), Hai Phong
(up 20%), Thai Nguyen (up 18.3%), Binh Duong (up 10.4%), Hai Duong (up 9.6%)
and
In
the meantime, Ba Ria–Vung Tau and Quang
Businesses that take good care of employees honoured
The
The
ceremony was attended by Vice President Dang Thi Ngoc Thinh, President of the
Vietnam Fatherland Front Central Committee (VFFCC) Tran Thanh Man and VGCL
President Bui Van Cuong.
Addressing
the ceremony, VGCL President Bui Van Cuong, the ranking is a meaningful
activity in encouraging and honouring enterprises which have made many
efforts in creating an effective working environment for their employees,
ensuring the quality of life of their employees and promoting their capacity
and working spirit.
After
four years of organising, the program has ranked 275 enterprises, presenting
credits to 119 enterprises. In addition, the organising board offering the
“Businesses that Take Good Care of Employees” Award to 15 enterprises, and
the Prime Minister's certificates of merit to 12 different enterprises.
The
“Businesses that Take Good Care of Employees” rankings was launched by VGCL
since 2014, creating a wide-range movement in order to encourage businesses
to take better care of employees, for the development of businesses and
communities.
SMEs urged to use energy efficiently
Small-
and medium–sized enterprises (SMEs) in industrial production were urged to
develop green growth strategies to improve business efficiency and protect
the environment, experts said at a conference held by the Central Institute
for Economic Management (CIEM) on November 29.
Trinh
Duc Chieu, Deputy Head of CIEM’s Corporate Development and Reform Department,
said that a large number of SMEs still used outdated and energy-consuming
technologies, despite the Government’s push to promote green growth.
Chieu
cited a survey that found 75 percent of processing and manufacturing
enterprises in
In
2015, 53 percent of companies in the processing and manufacturing industry
used technologies which were developed more than six years ago and only 14
percent invested in technologies that had hit the market within the three
most recent years.
In
addition, most SMEs did not conduct reports on their energy consumption and
their awareness about the importance of using energy efficiently remained
low.
SMEs
made up around 17 percent of companies operating in the manufacturing and
processing industry – the sector which consumed the most energy, accounting
for 43 percent of the country’s total energy consumption.
According
to Chieu, the lack of support and inconsistencies in policies has not
encouraged SMEs to use energy more efficiently. Besides, the development of
renewable energies still dramatically lags behind demand.
“It
is important for SMEs to enhance energy use efficiency, which will help cut
production costs, improve quality, increase profits and develop in a
sustainable way,” Chieu said.
Moving
towards green growth, using natural resources and energy more efficiently,
will increase resilience to climate change.
Chieu
said the legal framework on energy must be improved to encourage energy
efficiency and prod SMEs to shift towards renewable energies.
According
to Nguyen Dinh Khuyen from the General Statistics Office, an energy data
system should be developed to provide information for analysis in order to
craft appropriate policies.
At
the conference, experts also said that tax and credit policies should be
established to encourage the development and use of renewable energies and so
that SMEs will update their technologies.
HCMC to invite tenders for BT projects
HCMC
will hold competitive tenders for infrastructure projects to be carried
out in the build-transfer (BT) format to ensure transparency and
effectiveness.
According
to a source from the HCMC government office, the city will map out a process
to implement BT projects to clarify responsibilities of competent agencies
involved in projects and shorten the bidding time to select investors.
The
city will also put up land for auction to raise funds to pay for contractors
of BT projects, instead of allocating land directly to chosen investors.
In
addition, the city will diversify payment methods by tapping land lots near
projects, and issuing preferential policies on loan interest for projects
which are difficult to generate profits.
Although
the BT investment form has helped raise huge amounts of capital from the
private sector, it is fertile ground for corruption and group interests. The
way land is exchanged for infrastructure in BT projects has not been
transparent.
Local contents of electronic products still insignificant
Although
Speaking
at the conference, Vu Thi Thanh Huyen, lecturer at the Vietnam University of
Commerce, said most important components of electronic products made or assembled
in
Data
of the Supporting Industry Enterprise Development Center (SIDEC) shows that
local contents contribute only 23% to the value of electronic products.
Businesses tied to the supply chain of electronic product manufacturers are
mostly foreign-invested firms or joint ventures.
According
to Huyen, most electronic products sold in
Data
of SIDEC shows that the country now has 610 producers of electronic
accessories, accounting for half of the total number of electronic
enterprises.
However,
Huyen said foreign-invested electronic makers and assemblers, such as Samsung
Electronics, rarely sign long-term contracts with Vietnamese suppliers of
components.
Besides,
local firms mainly provide low-value components like packaging, plastic and
metal parts, or transport and catering services, while sophisticated
components that make up most of products’ value are mainly supplied by foreign-invested
suppliers.
According
to Nguyen Dinh Vinh, general director of Hanel JSC, Vietnamese enterprises
are not strong enough to participate in the supply chain of multinational
corporations. Local firms need to invest trillions of
Vinh
said the weaknesses of local firms might result from the weak connection
between them and foreign-invested enterprises, and the ineffective management
of ministries and departments.
Bang
Hyun Woo, deputy general director of Samsung
Veggies surpass crude oil in export earnings
Outbound
sales of vegetables have soared to US$3.16 billion in the year to date, well
above crude oil export revenue of US$2.44 billion, Vietnamnet news site
reports.
The
Ministry of Agriculture and Rural Development said in a report released on
November 28 that the value of vegetables export has risen a staggering 43.2%
compared to the same period last year. Vegetables exports in November along
are forecast to reach US$292 million.
As
such, the commodity will likely maintain its third position among
The
respective export revenues from rice and crude oil have been slow at around
US$2.48 billion and US$2.44 billion in the year to November. However, veggies
export has leapfrogged in the past two years.
For
example, according to the Vietnam Fruit and Vegetable Association, the export
revenue of vegetables brought in US$2.4 billion in 2016, but the figure has
now reached US$3.16 billion so far this year.
A
senior official of the Plant Protection Department under the Ministry of
Agriculture and Rural Development projected outbound sales of vegetables
would amount to US$3.4-3.6 billion in all of this year.
HCMC should build more boat stops for waterway tourism
HCMC
should build more boat stops to develop river tours into a major tourism
product of the city to attract more travel enterprises to invest in the
sector, heard a seminar on waterway tourism in HCMC on November 28.
At
the seminar held by the HCMC Departments of Transport and Tourism and Sai Gon
Giai Phong newspaper, many enterprises said the city’s natural conditions are
good to develop waterborne tourism products. However, the sector has not
grown as strongly as expected due to a lack of stopover stations.
The
city currently has only three boat stops, namely Tan Cang, Cau Mong and Vuon
Kieng, and last named situated at
Meanwhile,
the fee to use Cau Mong station is high, VND500,000 for a boat each time.
Besides, the station has no restrooms, so only four enterprises have used the
facility, said Lieu Thi My Hanh, sales director of Hoang Trieu Construction
Investment Corporation which operates 15 canoes.
Other
companies trading in restaurants and yachts in the
Nguyen
Dinh Cuong, managing director of Blue Pearl Voyages, told the Daily that the
company wants to invest US$10 million in the initial stage of a yacht station
project on
Active DIG trading drives turnover up
Development
Investment Construction Joint Stock Corporation (DIG) saw 128 million shares
traded, buoyed by the Ministry of Construction’s capital divestment, which
led trade value on the HCMC exchange to soar on November 28.
DIG
went up to its upper limit of VND19,250 a share and took the lead by
liquidity on the Hochiminh Stock Exchange. Notably, foreign investors
acquired over 56.4 million shares in the enterprise.
Earlier,
the Ministry of Construction announced to sell over 118 million DIG shares,
or a 49.65% stake, within one month starting November 17. With the DIG price
on November 28, the ministry earned an estimated VND1.7 trillion from the share
sale.
According
to tinnhanhchungkhoan.vn, DIG has nearly 3,200 hectares of land nationwide,
including in prime locations in Ba Ria-Vung Tau, Dong Nai, Vinh Phuc and Lam
Dong provinces, and
DIG
gave a boost to investor sentiment, sending the VN-Index up 2.6 points, or
0.28%, at 941.21 points. Trading volume rose 42.4% to 359.5 million shares
and trading value jumped 48.7% to VND8.8 trillion, including block deals
valued at more than VND2.1 trillion.
With
the current outstanding volume of over 238 million shares, investors changed
hands up to 54% of the total DIG share volume. Its trading value reached over
VND2.4 trillion, making up 28% of total turnover on the southern bourse.
Among
large caps, SAB,
Many
speculative stocks continued advancing strongly, in which agricultural firm
HAI and mining stock AMD went up to their ceiling prices of VND8,460 and
VND9,830 per share respectively. FLC, a property enterprise, reported trading
volume of 14.4 million shares but fell 1.3% at VND7,020 per share.
The
HNX-Index retreated after a four-day rising streak, dropping 0.47% against
the previous day at 111.5 points. There were 62.1 million shares worth nearly
VND802 billion transacted on the
Lender
SHB took the lead by liquidity with 14.3 million shares traded, followed by
construction firm VCG and petroleum technical service firm PVS with 5.6
million shares and 5.5 million shares respectively. HKB, which operates in
the food sector, hit its upper limit of VND2,500 per share with matching
volume of one million shares.
Vissan retails pork at wholesale prices
The
store will offer pork products at wholesale prices to vendors at traditional
markets, restaurants, hotels, schools, factories and other collective users
from midnight to 6:00 a.m. every day. Besides, fresh and processed food will
be sold at the outlet from 6:00 a.m. to 21:00 p.m.
Vissan
general director Nguyen Ngoc An said the company expects to open five more
such outlets near traditional wet markets by 2018.
An
stressed the store sell products provided by farms meeting VietGAP standards
as controlled and inspected by competent agencies. The origin of products can
be traced by using TE-FOOD app.
Vissan
has also set out its food safety requirements from the slaughter of pigs to
pork distribution. Pork will be transported by special-use vehicles to
outlets with refrigerators to store food and staff equipped with necessary
facilities and knowledge about food safety.
Vissan
is developing a supply chain of pork without antibiotics. In the year to
end-October, the company’s processed food sector grew 15% and fresh food 10%
over the same period last year and its revenue increased 15%.
Vissan
now contributes 10% of HCMC’s fresh meat supply. In the coming time, the
company will expand its markets to other large cities nationwide, An said.
Ministry plans higher tariffs on steel imports to support
domestic production
The
Ministry of Finance is seeking comments on a plan to revise up import tariffs
on some products, especially steel, as proposed by Hoa Sen Group Joint Stock
Company, Tap chi Tai chinh reports.
In
particular, Hoa Sen has proposed increasing the tariff on coated steel sheets
coded 7210.41.11 from 20% to 25%, the tariff on rolled steel products coded
7211.19.11, 7212.40.10, 7212.50.91 and 7212.50.99 from the preferential rate
of 0% to 10% as pledged in WTO commitments, and the tariff on steel products
coded 7212.40.90 from 7% to 10%. The reason the company gave is that it can
now produce such products.
The
tax increase proposal also aims to ensure the tariffs charged on
semi-finished products are not higher than those on finished products.
According
to the Ministry of Finance, steel sheet products coded 7210.41.11 are subject
to a duty of 20% as they are produced domestically. Imports of such products
totaled US$136,000 in 2015.
Under
the Ministry of Planning and Investment’s Circular 14/2015/TT-BKHDT, the
country can make products coded 7211.19.11, 7212.40.10 and 7212.40.90, and
last year imported US$2.7 million, US$3.3 million and US$373,000 worth of
these respective products. They are mainly imported from
As
most of these products are produced domestically and imported with a duty of
0%, the ministry plans to increase the tariffs on such products to 10% to
back domestic production.
Regarding
the potential impact on budget revenues, as estimated by the ministry based
on 2016 imports, import tax collection will rise by US$0.6 million per year.
Agriculture urged to automatise with IoT
The
Fourth Industrial Revolution has seen a boom in breakthrough technologies and
affected every sector, including agriculture. The changes require
Hoang
Quang Phong, vice chairman of the Viet Nam Chamber of Commerce and Industry
(VCCI) emphasised the importance of applying Internet of Things (IoT) devices
in agriculture at a conference on hi-tech agriculture held in Ha Noi on
Tuesday.
The
Fourth Industrial Revolution has witnessed the development of technologies
such as artificial intelligence (AI), cloud computing, IoT, bio-tech and
nano-tech.
He
said the active operation of the IoT Open Community of Viet Nam (IOCV) has
produced evidences showing how Vietnamese firms might apply smart
agriculture. Businesses in the community have built hi-tech agricultural
models to control products’ quality, save resources and improve the sector’s
competitiveness.
IOCV
was initiated by VCCI’s
For
example, Wala Company under VNPT Technology has applied Delco smart farm demo
model to make automatise all processes of monitoring, operating plantations
and breeding. The company previously needed 20 to 30 workers to do what
requires only five workers after the application of IoT.
Bui
Ngoc Son, head of the company’s marketing division, said they are applying
IoT technology in melon plantations and chicken farms. They use sensors for
monitoring to ensure products’ quality.
Nguyen
Hong Quang, chairman of Viet Nam Free and Open Source Software Association
(VFOSSA) said they expected to provide solutions suitable with scale of
farmer households with affordable investment.
Quang
added
Dao
Van Chien, deputy director of the Hi-tech Department under the Ministry of
Science and Technology, said they would closely co-operate with the Ministry
of Agriculture and Rural Development to further promote the application of
IoT in agriculture.
LienVietPostBank and Woori Bank Việt
LienVietPostBank
and Woori Bank Viet
Under
the MoU, LienVietPostBank will provide financial products and services to
meet Woori Bank Viet
The
two banks expected to offer customers good products and services, taking
advantage of their wide network nationwide. In addition, the co-operation
would improve business results and the brand name of the two banks in the
time to come.
Woori
Bank Viet
Woori
Bank Viet
Founded
in 1899 in
LienVietPostBank’s
e-wallet was launched in August 2016. It could implement online payments of
invoices, services and money transfers safely and quickly.
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Chủ Nhật, 3 tháng 12, 2017
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