The State Bank of Vietnam (SBV) has released a list of 33 commercial banks that are able to provide bank guarantees for future built property projects. There are 25 local commercial banks, including well-known names such as Vietcombank, VietinBank, BIDV, Agribank, Techcombank, SeABank, PVComBank, LienVietPostBank, NCB, and HDBank. They are joined by nine foreign banks: ANZ Vietnam, HSBC Vietnam, Hong Leong Vietnam, Shinhan Vietnam, Standard Chartered, Indovina Bank, VID Public Bank, Vietnam – Russia Bank, and Viet – Thai VinasiamBank. Sacombank, Eximbank, VIB, and OCB are surprisingly not on the list. The necessity to secure a guarantee from a financial institution for future built property projects comes under Circular No.…
60 plants join power market by August
As many as 60 power plants have joined the electricity market directly so far this year with a total capacity of 14,952 megawatts, accounting for 40 percent of the national power system, according to the National Load Dispatch Centre (NLDC). By the end of July, the centre was operating 107 power plants with an installed capacity of 37,594 megawatts and 750 transformer stations of 500/220/110 kilovolts with a total capacity of 99,914 mega-volt amperes. This year, power output is expected to reach 163.1 billion kilowatt hours, up 12.1 percent compared to 2014 http://en.vietnamplus.vn/60-plants-join-power-market-by-august/80168.vnp (150814)
Binh Duong attracts over 1.2 bln USD in FDI in seven months
The southern province of Binh Duong attracted over 1.2 billion USD in foreign direct investment (FDI) from January-July, surpassing the yearly target of one billion USD. During the period, the locality welcomed 119 new investment projects and increased the allocated capital to 79 existing ventures, according to the provincial People’s Committee. In July alone, the province lured 631 million USD in FDI, including 33 newly-licensed projects worth 363 million USD and 20 operations adding more 268 million USD. Binh Duong is currently ranked second across the country in FDI attraction. Last year the event attracted 320 companies from 21 countries and territories and 22,000 visitors. http://en.vietnamplus.vn/binh-duong-attracts-over-12-bln-usd-in-fdi-in-seven-months/76030.vnp (150813)
HCM City prepares for travel expo in September
The 2015 International Travel Expo in Ho Chi Minh City will take place from September 10-12. Vietnam’s main international tourism event, with its motto of One Decade – One Mekong – One World this year, is expected to draw 25,000 visitors besides the foreign media. According to a release from the organisers, 22 Vietnamese provinces, 13 international tourism promotion organisations, and 25 tourism enterprises from 20 countries and territories have registered to take part in the event. It will be held at the Saigon Exhibition and Convention Centre in District 7. Last year the event attracted 320 companies from 21 countries and territories and 22,000 visitors. http://en.vietnamplus.vn/hcm-city-prepares-for-travel-expo-in-september/75969.vnp (150811)
Automobile sales soar by 60 percent in July
As man as 20,349 automobiles were sold in July, an increase of 9 percent from June and 61 percent compared to the same period last year, the Vietnam Automobile Manufacturers’ Association (VAMA) revealed in its July sales report on August 6. The figure includes 11,647 passenger cars and 7,862 commercial vehicles, up by 19.2 percent and 0.4 percent, respectively, since June, while only 840 special-purpose vehicles were sold last month, down by 22.4 percent. The volume of Complete Knock Down (CKD) vehicles rose by 4 percent monthly to 15,013 units in July and the volume of Complete Built Up (CBU) vehicles totalled 5,336 units, up by 26 percent. Among VAMA…
経済： オーストラリアは、ベトナムの鋼のダンピング防止の調査を終え
The Australian Anti-Dumping Commission (ADC) has concluded its investigation into of zinc-coated (galvanised) steel imported from India and Vietnam, the Vietnam Competition Authority under the Ministry of Industry and Trade said on August 5. The ADC said Vietnamese galvanised steel shipped to Australia was not sold at dumping prices, therefore posing no threat to Australia’s domestic steel production. The ADC’s investigation was launched on July 11, 2014 http://en.vietnamplus.vn/Home/Australia-ends-antidumping-investigation-into-Vietnamese-steel/20158/69493.vnplus (150807)
Seven-month overspending estimated at 4.6 billion USD
Budget overspending reached an estimated 100.7 trillion VND (4.6 billion USD) in the first seven months of this year, equal to 44. 5 percent of the year’s budget estimates, the Ministry of Finance said on August 5. Total revenues in the first seven months were 544 trillion VND or 59.8 percent of the year’s estimates, up 6.6 percent against the same period. Of which 404 trillion VND came from domestic revenue and the rest from import-export activities. In the period, the country spent 645.3 trillion VND, or 56.3 percent of the year’s estimates, representing an 8.1 percent increase from last year. To compensate for the over-expenditure, 114.5 trillion VND worth…
Vietnamese Ambassador to Japan presents credentials
Vietnamese Ambassador to Japan Nguyen Quoc Cuong presented his credentials to Japanese Emperor Akihito in Tokyo on July 31. At the later meeting with the Emperor, Cuong promised to do his best to bolster the bilateral strategic partnership between the two countries. The ambassador also conveyed Vietnamese leaders’ greetings to the Emperor and the Queen, and asserted that the Vietnamese Party, State and people have always considered Japan as Vietnam’s leading development partner. In return, the Emperor lauded the fruitful cooperation between Vietnam and Japan in all areas, serving interests of both countries’ people. Emperor Akihito expressed his wish that, during his tenure, the diplomat would further promote the multi-faceted…
Can Tho among world’s 10 most beautiful canal cities
Can Tho has been ranked the 10th most beautiful canal city in the world in a list drawn up by the Mysterious World website. “Waterways have played a crucial role in transportation throughout the history,” the site says. “Until today cities like Venice, Birmingham and Giethoorn are globally known for their stunning canal system. “The large Vietnamese city of Can Tho is located in the Mekong Delta in the centre of a network of canals and rivers. The city’s total waterway length is 1,157km. The Hau River, the biggest branch of the Mekong River, runs along the north of the city.” It also mentions floating markets, the main attraction of…
Nearly 1.7 billion USD of FDI pours into real estate market
The country’s property market attracted 1.69 billion USD in foreign direct investment (FDI) for 15 projects in the first seven months of 2015, according to the Foreign Investment Agency. This figure accounted for 19.3 percent of the total FDI capital of 6.92 billion USD. Figures from the agency showed that the real estate sector took second place in attracting FDI capital during the period. In HCM City alone, four real estate FDI projects received an investment licence, with total registered capital of 1.31 million USD. Experts forecast that FDI pouring into the property sector would see a surge by the year-end month thanks to the amended Law on Housing 2014…
Japanese steel corporation to invest 220 mln USD in Vietnam
JFE Steel, Japan’s second-biggest steelmaker, has announced it will invest 27 billion JPY (220 million USD) in a steelwork plant being constructed by the Formosa Plastics Group (China) in the central province of Ha Tinh. Speaking in a press conference in Tokyo, Shinichi Okada, Executive Vice President of the JFE Holdings Inc – JFE Steel’s parent, said that the investment is part of the corporation’s mid- to long-term growth strategy given Japan’s local demand is shrinking. JFE plans to purchase 5 percent stake in the plant’s operating company, Formosa Ha Tinh Steel (FHS), which is investing 10.5 billion USD in the first phase to build a rolling and metallurgy workshops…
Japanese giant retailer Seven & I Holdings to enter Vietnam
Seven and Eleven convenient store chain is expected to make its debut in Vietnam in 2017, according to Japanese newspaper Nikkei. US-based Seven Eleven Inc., a subsidiary of the Japanese retail conglomerate Seven & I Holdings, has signed a contract with IFB Vietnam, owner of the Pizza Hut restaurant chain in Vietnam, to open its first store in Ho Chi Minh City. The number of the establishments is set to reach 100 after three years and 1,000 ten years later. The company will send Japanese staff to transfer the original management and business models to stores in Vietnam. Boasting 38,000 supermarkets worldwide, Seven & I Holdings has thus far entered…
Rice export exceeds 2.8 million tonnes
Vietnam earned almost 1.2 billion USD from shipping more than 2.8 million tonnes of rice to foreign markets since the outset of this year, according to the Vietnam Food Association (VFA). The VFA also said that the domestic prices remain stable, ensuring profits for farmers. Mekong Delta provinces are currently planting summer-autumn crops across 1.7 million hectares and harvesting 3.54 million tonnes of rice in 650,000 hectares, favourable conditions for enterprises to collect material rice for export at the end of 2015. In 2014, Vietnam exported 6.32 million tonnes of rice, earning 2.84 billion USD and becoming the third largest rice exporter in the world after Thailand and India, according…
Vietnam, Japan work to enhance manpower quality
Vietnam’s Ministry Labour, Invalids and Social Affairs (MOLISA) and the TOA Institute, A Japanese general Incorporated Foundation, signed A Memorandum of Understanding on cooperation Training in Agriculture on July 27. Under the pact, Vietnamese Trainees in the Agricultural sector Will See A greater Chance to Work in Japan’s Hokkaido. Addressing the Signing Ceremony, MOLISA Deputy Minister Nguyen Thanh Hoa highlighted Efforts made by the Two Governments Have Resulted in the Increasing Quantity and quality of Vietnamese Trainees going to Japan to FURTHER Their working experience. The newly-inked pact Will Stimulate the Two Sides’ cooperation in Agro-Forestry-Fisheries, Which IS Among the most Prioritised sector of the MOLISA in terms of Enhancing…
Japanese group invests in real estate in Ho Chi Minh City
Japan’s Creed Group, a real estate firm specialising in principal investment and property development, signed a 200 million USD contract on July 26 with An Gia Investment and officially becoming a player in Ho Chi Minh City’s property market. Under the contract, the Creed Group will purchase shares of An Gia and in the company’s housing projects with the aim to provide “Japan quality” houses within the city. An Gia Investment CEO Nguyen Ba Sang said the contract will offer the company a strong financial source to implement real estate projects. An Gia plans to build 2,000 superior apartments each year towards having 10,000 units by 2020 with a total…
Vietnam’s trade deficit reaches 3.96 billion USD
Vietnam recorded a trade deficit of 936 million USD in the first half of July, bringing the total number since the beginning of this year to 3.96 billion USD. Statistics released by the General Department of Customs show that, in the reviewed period, total export-import revenues were valued at 13.38 billion USD, a 7.2 percent drop compared to the second half of June. Exports brought home nearly 6.22 billion USD, a decline of 16.1 percent, while imports were valued value at 7.16 billion USD, up by 2.3 percent. The increase in import value mainly stemmed from rising imports in a number of products, including crude oil (up 48 million USD),…
Income of Da Nang’s poor three times higher than VN average
The new standards were approved by the municipal People’s Council on July 9, for the period 2016-2020. The households in rural areas that are considered near-poor are those with average monthly income of over VND1.1 million to VND1.42 million/person and the rates are over VND1.3 million to VND1.69 million/ for urban households. According to the government’s standards to identify poor households in the period 2011-2015, the rural families with average monthly income of VND400,000 or less per person and urban families with earnings of VND500,000/person or less are recognized as poor. The rates for the near-poor households are income of VND401,000 to VND520,000/person/month in the rural area and from VND501,000…
Garment exports to US likely to hit 11 billion USD
Textile and garment exports to the US is likely to reach 11 billion USD this year, said Dang Phuong Dung, Vice Chairwoman of the Vietnam Garment and Apparel Association. The figure may double after the signing of the Trans-Pacific Partnership (TPP) agreement, which will benefit businesses with tariff cuts for imports, she added. Vietnam’s garment and textile products normally are levied import duties of 15-16 percent. However, the taxes will be cut down to 7-8 percent after the country joins the TPP and the products meet the requirements of origin. Currently, the US is the biggest importer of Vietnamese garment and textile products, consuming about half of the total exports.…
RoK to invest in hi-tech agriculture in Can Tho
The Republic of Korea (RoK) will provide a 500,000 USD aid package for the Mekong Delta city of Can Tho to boost its hi-tech agriculture. The capital will be used to build infrastructure and purchase modern machinery and equipment. The announcement was made during a meeting between local authorities and a delegation of Korean economic consultants led by Hak Min-kim. Three companies from the RoK are set to invest in Can Tho, including YouCel major in bio-cellulose manufacturing, Nexgen Biogen specialised in canola extracting for cooking oil and cosmetics, and Nano Bio One operating in bio-nano technologies. At the meeting, Chairman of the municipal People’s Committee Le Hung Dung expressed…
Japan seeks investment approval to upgrade HCM City canal
The Japan International Cooperation Agency (JICA) has asked municipal authorities in Ho Chi Minh City for permission to take part in the Xuyen Tam Canal upgrade project, worth over 5.1 trillion VND (around 234.1 million USD), in Binh Thanh and Go Vap districts, Hanoi Moi Newspaper reported on July 17. The project involves dredging the 6.21km main section of the Xuyen Tam Canal, which runs from Nhieu Loc-Thi Nghe Canal to Vam Thuat River, as well as dredging three other subsections, developing transport infrastructure and upgrading urban residential areas along the canal in Binh Thanh and Go Vap districts. JICA proposed to invest 3.5 trillion VND (approximately 160.5 million USD)…
Corporate social responsibility discussed in Hanoi
Construction on a 1.8-billion-USD thermal power plant in central Nghe An province is expected to commence before October 10, reported the Thoi bao Kinh te Viet Nam (Vietnam Economic Times) newspaper. The building schedule was recently agreed on by the project’s investor – Vietnam National Coal-Mineral Industries Group (VINACOMIN) – and the Nghe An People’s Committee. The Quynh Lap 1 factory, located in the Dong Hoi Industrial Park, will consist of two turbines with a combined capacity of 1,200 megawatts. VINACOMIN will design a detailed construction plan at a 1:500 scale by mid-August to submit to the People’s Committee for approval. The power plant is set to become operational in…
Deputy PM Hai meets Gifu prefecture governor
Deputy Prime Minister Hoang Trung Hai received Hajime Furuta, Japan’s Gifu prefecture governor, on July 14 during Furuta’s working visit to Vietnam. At the meeting, Hai confirmed Vietnam treasures the relationship with Japan and considers deepening the comprehensive friendship and cooperation with Japan as one of its top external policy priorities. The Deputy PM recommended the Gifu prefecture encourage its enterprises to invest in agriculture and the support industry. The Deputy PM also thanked Furuta for his active role in promoting ties between the two countries. Governor Furuta hoped the Vietnamese Government would create more favourable conditions to facilitate contact and cooperation between Gifu and Vietnamese companies. There are currently…
US investors are interested in at least 4 areas in Viet nam
VietNamNet Bridge – US investors are interested in at least four areas in Vietnam, said Mr. Pham Viet Muon, former Vice Chair of the Government Office, an organizer of Vietnam’s investment promotion conference in the US on July 1-5. http://english.vietnamnet.vn/fms/business/135793/what-do-us-investors-want-in-vietnam-.html(.vietnamnet.vn 2015年7月14 日)
1.73 billion USD spent on livestock feed and material imports
The State Treasury of Vietnam has announced that it will issue 20-year Government bonds for the first time, between July 29 and December 31. According to a notice released by the State Treasury on June 30, the bonds will have a face value of 100,000 VND (4.6 USD) each. It is estimated that bonds worth 6-7 trillion VND (275-321 USD million) will be issued during the period. Those interested in the 20-year bond can register for direct purchases at the agency. The bonds will be issued the day the State Treasury gets money from the buyers. The Ministry of Finance and investors will negotiate the bond coupons at the time…
1.73 billion USD spent on livestock feed and material imports
Vietnam splashed out 1.73 billion USD on livestock feed and material imports in the first two quarters of the year, a year-on-year increase of 7.8 percent, according to Ministry of Agriculture and Rural Development. Most of the products were imported from Argentina (36.6 percent), the US (19.2 percent) and China (7.4 percent), the Hanoi Moi newspaper reported. In the period, 329 million USD was spent on importing 1.28 million tonnes of wheat, rising 5.1 percent in value and 31 percent in quantity from the same period last year. Australia and Brazil became Vietnam’s key wheat exporters with a market share of 53.8 percent and 28.5 percent, respectively. The country also…
Japan opens market to Vietnamese mangos
Japanese authorities recently gave the go ahead for importing Vietnamese mangos cultivated in Xuan Loc district in the southern province of Dong Nai. This is a great opportunity for Vietnamese mango growers to increase their consumer market, since previously only white flesh dragon fruit were approved for sale in Japan. Japan is Vietnam’s second largest fruit importer, with a market share of 8 percent, after China. The red flesh dragon fruit is expected to be authorised for export to Japan next. 2015 is a good year for Vietnamese fruit exports so far, particularly lychees, which were licensed for export to the USA, Australia, Japan, France and the Republic of Korea.…
Over 1,100 new businesses established in Dong Nai
Over 1,100 new businesses have been set up so far this year with a total capital of 4.1 trillion VND (187.9 million USD) in the southern province of Dong Nai. Another 220 enterprise increased their registered capital to a combined 2.2 trillion VND, according to the provincial Department of Planning and Investment. The total new registered capital of 6.3 trillion VND represents 70 percent of the yearly target, the department said, adding that the businesses generated more jobs for people, contributing to socio-economic development. In the period, 60 businesses submitted documents to dissolve, a 66-percent increase from a year ago while 240 branches and offices submitted documents to stop or…
Vietnam’s GDP growth in Q2 reaches five-year record
Vietnam’s gross domestic product (GDP) growth in the second quarter of this year reached a five year record, hitting 6.44 percent, reported Minister of Planning and Investment Bui Quang Vinh at the Government’s monthly meeting on June 29. The result brought the country’s GDP growth for the first half of this year to 6.28 percent, much higher than the same period five years ago, he said. According to the minister, the high GDP growth in the second quarter and the first six months of this year showed a economic recovery and development trend despite difficulties. He revealed that the agro-forestry-fishery sector rose 2.36 percent, while industry-construction grew 9.09 percent and…
Japan invests 37.7 billion USD in Vietnam projects
As of June 20, Japan had invested 37.7 billion USD in 2,661 projects in Vietnam, statistics from the Foreign Investment Department show. Of this the manufacturing/processing sector accounted for 31.3 billion USD and 1,357 projects. An amount of 1.66 billion USD has been invested in the property sector. Japanese investors have a presence in 49 of the country’s 63 cities and provinces. Thanh Hoa is the biggest beneficiary with 9.68 billion USD in 10 projects, accounting for more than a quarter of all Japanese investments. Hanoi is second with 4.1 billion USD in 661 projects, and Binh Duong third with 3.85 billion USD in 248 projects. The biggest Japanese projects…
ベトナム：M&Aが急激に上昇する見込みがある
Vietnam is among the emerging market having high transactional growth in merger and acquisition (M&A) activities, according to a latest report released by the Baker McKenzie law firm. Stand-out markets for predicted high transactional growth in next five years include developed economies such as the Netherlands, the UK, Sweden, China, Hong Kong (China) and India, and emerging markets of Mexico, Egypt, and Vietnam, Singapore’s Business Times quoted the report as saying. Globally, Baker McKenzie analysts predicted M&A deals to rise to 2.7 trillion USD in 2015 before accelerating to 3 trillion USD in 2016 and 3.4 trillion USD in 2017. M&A activity relating to emerging markets will grow dramatically, rising…