Viet Nam News Ngọc Bích YOKOHAMA - The ten ASEAN countries along with China, Japan and South Korea (ASEAN+3) are expected to experience moderate growth of around 5 per cent in the next two years despite external uncertainties. This is one of the forecasts to emerge from the "ASEAN+3 Regional Economic Outlook", the first annual report produced by the ASEAN+3 Macro-economic Research Office (AMRO), released on Thursday. According to the report, though the recent recovery in global trade could possibly drive up regional growth and exports, the ASEAN+3 growth rates in 2017 and 2018 are still predicted to be slightly lower than the level of 5.3 per cent seen in the past three years. Explaining the prediction, AMRO chief economist Hoe Ee Khor said with the uncertain trade outlook, economic growth in the region would continue to be driven primarily by domestic demand with support from monetary and fiscal policy. "However, compared to 2016, room in monetary and fiscal policy has … [Read more...]

Viet Nam News ĐỒNG NAI - The southern province of Đồng Nai shipped goods worth US$5.2 billion abroad from January to April, up 12.8 per cent from the same period last year. The locality also imported goods worth $4.78 billion during the period, according to the provincial Department of Industry and Trade. The department said the trade surplus can be attributed to local businesses' efforts to seek domestic supply of materials and goods. Stronger connection among domestic enterprises has also helped reduce imports while allowing domestic enterprises to enjoy tax incentives when shipping their products to markets with which Việt Nam has signed free trade agreements, including the Republic of Korea (RoK), Japan, Chile and ASEAN nations. Export revenue from traditional markets recorded good growth, such as an 88 per cent increase year-on-year in the RoK market, nearly 13 per cent in Japan, over nine per cent in France and nearly eight per cent in the United States. The province's … [Read more...]

The representative of Sài Gòn Hi-Tech Park (SHTP)granted an investment certificate to BSB Investment & Development Co Ltd for the construction of the first silica and nano silica plant in Việt Nam. - Photo doanhnghiepvahoinhap.net Viet Nam News HÀ NỘI - Lê Hoài Quốc, president of Sài Gòn Hi-Tech Park (SHTP), has granted an investment certificate to BSB Investment & Development Co Ltd for the construction of the first silica and nano silica plant in Việt Nam. The plant has designed production capacity of 3,000 tonnes of silica and nano silica from rice husk per year at the SHTP in HCM City's District 9. It is an attempt to maximise exploitation of the precious silica and nano silica resources from rice husk, leveraging it for deployment of special rich applications of public nano technology, such as in activities related to pharmaceutics, cosmetics, foodstuff and advanced materials, as well as agriculture, construction, rubber, plastics, electronics and energy industries in Việt … [Read more...]

Viet Nam News YOKOHAMA — As many as 5,000 delegates participated in the 50th Annual Meeting of Asian Development Bank (ADB) on Thursday morning. The delegates are senior government officials, business executives, academics and representatives from development organisations from the Asia-Pacific region. This year’s meeting, themed “Building Together the Prosperity of Asia,” will focus on the region’s growing need for infrastructure as a critical sector towards achieving sustainable and inclusive development. Discussions on how to address urban issues, strive for clean and climate-resilient solutions and transcend middle-income challenges will also be held. Lessons learned from the Asia financial crisis, implications of policies that countries can adopt and issues central to development, including rising inequality, macroeconomic stability, progress on Sustainable Development Goals and financial inclusion, are also on top of the agenda. How to … [Read more...]

Lately, the Ministry of Agriculture and Rural Development has liaised with the Vietnam Macadamia Association (VMA) on the prospect of the new agricultural produces. Agriculture and Rural Development Minister Nguyen Xuan Cuong said it needs to make hay while the sun shines to create processing chains to provide for local markets and for export. Through ten years planted in Vietnam, the tree is proper in the highlands and the northwest region in Vietnam. Currently, total 44,000 tons of the nut are consumed globally, accounting for 1 percent of the consumption of all nuts. Experts said in the future, macadamia industry will have stable development with the growth of 5 percent for long and medium terms. Value of the nut is on upward trend in the world as people’s income is improved and the nut is proved be good for people’s health. Professor Hoang Hoe said that farmers can harvest 1 kg a tree after three-year planting and it will be 10 kg, 20kg, 30 kg a tree after … [Read more...]

VietNamNet Bridge - The repeated alarms about unsafe food has brought great opportunity to several big investors, who have been pouring money into organic food projects. In mid-March, Vinamilk, the nation’s leading dairy producer, inaugurated Vinamilk Organic Da Lat, the first organic milk cow farm in Vietnam that meets European standards. With initial investment capital of VND200 billion, the farm will raise 500 milk cows. Vinamilk began building the farm in 2014. Its CEO Mai Kieu Lien then believed that organic milk must be one of the directions for Vietnam’s agriculture as consumers are getting choosier and willing to pay more to get safe food. In late 2016, Vinamit, the dried fruit producer, received a certificate on organic cultivation and processing in accordance with the US Department of Agriculture's USDA Organic and EU's Ecocert EU standards. Vinamit’s general director Nguyen Lam Vien said organic food is becoming more popular in the world which has … [Read more...]

VietNamNet Bridge – Standards on emission concentration in Viet Nam are below international standards. More pollutants in Viet Nam, therefore, can be emitted than in other countries, said Nguy Thi Khanh, Green Innovation and Development Centre (GreenID) executive director in Ha Noi in a panel discussion on air quality held by the US Embassy on Wednesday. Motorbike riders in Ha Noi have to wear masks on a dusty highway section through Cau Dien-Nhon. – Photo: VNA/VNS According to statistics provided by Green ID, Vietnamese standards on PM10 (inhalable particles with diameters of generally 10 micrometres or smaller) per day are 150 micrograms per cubic metre compared with only 50 micrograms per cubic metre recommended by the World Health Organisation (WHO). Vietnamese standards on PM2.5 (fine inhalable particles with diameters of generally 2.5 micrometres or smaller) are 50 micrograms per cubic metre. The WHO figure is 25 micrograms per cubic metre. Khanh said that … [Read more...]

VietNamNet Bridge – Viet Nam is now closer to Italy than a map would suggest, thanks to a photographic exhibition entitled ContrAddiction, Vietnam Living Country, in Udine City, Italy. The exhibit comes as part of the Far East Film Festival, the most important Asian film festival in Europe. Each photo displayed in the exhibition is depicts simple, peaceful and ordinary life in Viet Nam, from the north to the south. For instance, it shows a mother sitting with her son on a hammock, an ethnic man going to work in the early morning with his buffalo, and a father carrying his son on his shoulders. Those photos are the fruits of Italian photographer Dario Tommaseo’s five monthlong visits to the country since 2014. “I have always had some strange attraction to Asian culture. Therefore, after my trip to Nepal, I decided to travel to Viet Nam,” Dario said. “Since my first moment in Viet Nam, I’ve been fascinated by its people, culture, food and places. … [Read more...]

VietNamNet Bridge – Viet Nam aims to become an advanced nation in the study and application of natural sciences by 2025. Towards this, an eight-year plan (with vision until 2030) will start this year to take studies in four main disciplines –Chemistry, Life Science, Earth Science, and Marine Science – to a new level. The plan envisages that by 2025, there are 15-20 strong research groups in each of these four fields. It also aims for an annual increase of 20-25 per cent in the number of works published in prestigious science journals (those listed in the bibliographic SCOPUS database). The target is 10-15 per cent in the field of marine science. To implement the plan, the State will assign specialised science and technology institutes to conduct scientific research and create products that can be used in manufacturing and in daily life. To improve research capacity in basic sciences at tertiary institutions, investment will be poured into key laboratories in each … [Read more...]

The State Bank of Vietnam (SBV) has received significant dividend payments for 2016 from BIDV, Vietcombank, and VietinBank, totaling VND6.17 trillion ($271.375 million). The SBV is the dominant shareholder in the three banks and also Agribank, and as such is responsible for their operations. With solid credit growth last year, the three banks provided large dividends to the State coffers. Vietcombank recorded profit growth of 25 per cent and VietinBank 17 per cent. BIDV’s profit, meanwhile, fell more than 2.5 per cent. Agribank is yet to release its financial statement for 2016. The three banks held their annual general meetings at the end of April, where dividend plans were approved. Under the direction of the Ministry of Finance, the three banks will pay a cash dividend of 7 or 8 per cent. With a shareholding of 95.28 per cent in BIDV, the bank provided the SBV with the highest dividend, of VND2.28 trillion ($100.228 million), despite its dividend being 7 per cent and it … [Read more...]

In its latest assessment released on May 3, Moody’s Investor Service has affirmed the long-term and short-term deposit and, where applicable, issuer and senior debt ratings of eight Vietnamese banks as unchanged (B1 positive). The credit agency also revised outlooks for local currency deposits and local and foreign currency issuer ratings of the institutions from stable to positive. The banks are Vietcombank, Vietinbank, BIDV, An Binh Bank, ACB, Military Bank, VIB and Techcombank. The baseline credit assessments (BCA), adjusted BCAs, and counterparty risk assessment assigned to the eight banks are unaffected by the rating actions. The rating actions for the eight Vietnamese banks were driven by Moody’s affirmation on April 28 of Vietnam’s B1 sovereign rating and the change in the country’s rating outlook to positive from stable on the same day, reflecting Moody’s expectations over the government’s potentially higher capacity to provide such … [Read more...]

Viet Nam News HCM CITY - The Vietnam Motorcycle Show 2017 opened in HCM City on Thursday with big names in the industry from home and abroad attending the event. The exhibition, the second edition, is being held in the backdrop of numerous challenges facing domestic manufacturers and importers. A wide range of models -- from commercial and sports bikes to newly motorcyle launching -- were showcased at the exhibition. A number of activities were also held during the event, including driving games and a freestyle motocross performance by Japanese athletes, funded by Yamaha. The event also gathered 55 trademarks of support industries and spare part providers as well as relevant industries, including foreign brands such as Motul, Michelin, Caltex, Total, Nissin and Quik Fix. The exhibition is open until May 7. According to the Việt Nam Association of Motorcycle Manufacturers, last year, automatic motorcycles accounted for 45 per cent of total sales. Việt Nam's motorcycle market is … [Read more...]

Figures from ten Vietnamese banks reveal the cumulative bad debt ratio has increased from 1.87 per cent at the end of 2016 to 1.9 per cent as at March 31. Total bad debts increased 6 per cent to VND50.7 trillion ($2.23 billion), mainly in the form of Group 1, standard debt, which was up 13 per cent during the first quarter to VND15.75 trillion ($692.7 million), and Group 2, debt needing special attention, which was up 18 per cent to VND7.94 trillion ($349.2 million). Notably, Group 5 debt, potentially irrecoverable debt, fell 0.1 per cent during the period but still represents the majority of the total, standing at VND27 trillion ($1.2 billion) as at March 31. Four out of six banks saw a lower bad debt ratio at the end of the first quarter: Sacombank, Vietnam International Bank (VIB), Vietcombank, and Kienlongbank. Sacombank’s bad debt ratio fell from 5.35 per cent at the end of 2016 to 4.88 per cent as at March 31, but remains the highest of the ten banks. Its total … [Read more...]

A unit of monopoly electricity provider Electricity of Vietnam (EVN) has unveiled a plan to build two solar power plants in the south-central province of Ninh Thuan with a combined capacity of 350 MW. It expects to begin construction in the second quarter of next year and put the plants into operation in the first quarter of 2021. It will also use the site for hi-tech agricultural production. Genco 3 currently operates 12 thermal and hydro power plants around the country with a combined capacity of 6,549 MW, accounting for 17 per cent of the country’s power production. Foreign businesses have recently expressed interest in investing in solar power in Vietnam, where energy demand is growing rapidly. Singapore’s Sinenergy Pte. Ltd. has been the latest to express interest, in building a 300 MW farm in Ninh Thuan. Last month, Prime Minister Nguyen Xuan Phuc issued a long-awaited decision approving the mechanism on the development of solar power projects, Decision … [Read more...]

Viet Nam News HÀ NỘI - National flag carrier Vietnam Airlines is offering a 30 per cent discount for the first 1,000 online bookings on the Hà Nội-Sidney route until May 5. The bookings must be made on the airline's official website www.vietnamairlines.com, using promo code PR30SYD117, valid for travel until June 30. The national carrier launched the new direct service from Hà Nội to Sydney in March, using new-generation aircraft Boeing 787-9 Dreamliner. The four-star flight, which has a travel time of some 9 hours and 35 minutes, will be operated three times per week, bring the total number of the carrier's flights to Australia to 17 per week. The flight will depart from Hà Nội at 23:55 on Tuesdays, Fridays and Sundays and return from Sydney at 15:15 (summer time) or 14:15 (winter time) on Mondays, Wednesdays and Saturdays. - VNS … [Read more...]

Viet Nam News HÀ NỘI - Deputy Prime Minister Vương Đình Huệ has suggested the Sumitomo Mitsui Banking Corporation (SMBC) invest in infrastructure construction in Việt Nam while meeting with an executive of the Japanese bank. Sumitomo Mitsui currently holds 15 per cent of the charter capital of the Việt Nam Export-Import Commercial Joint Stock Bank (Eximbank) and used to support Japanese and Vietnamese businesses with capital and financial services. It has expressed the intention of expanding operations in small- and medium-sized enterprises development and infrastructure building in the country. At the meeting in Hà Nội on Wednesday, Deputy PM Huệ applauded Sumitomo Mitsui's investment and business partnership in Việt Nam. He said some 700km of a north-south expressway is set to be built in the country from now to 2020, the construction of which will cost some VNĐ200 trillion (US$8.8 billion). SMBC and other investors from Việt Nam and other countries can invest in the form of a … [Read more...]

VietNamNet Bridge - Before 2016, manufacturers offering lower selling prices had an advantage in the instant noodle market. But with the market now saturated, the presence of ‘real pieces of meat’ in noodle packages will determine the outcome of the competition. Nguyen Dang Quang, president of Masan, a consumer goods manufacturer, which holds 24 percent of the instant noodle market share, said the competition in the instant noodle market has become fierce and his company saw no growth in the sector in 2016. Masan, which held 25 percent in 2015 and 24 percent in 2016, said thst it does not try to compete in prices, but focuses on upgrading products to make them more convenient and have higher quality. One of the products with ‘higher quality’ is the ‘instant noodle with real pieces of meat inside’ which has just been launched. It is VND1,000 higher per package. Before 2016, manufacturers offering lower selling prices had an advantage in the instant … [Read more...]

Viet Nam News HCM CITY - HCM City People's Committee has selected Lotte group as the investor of a smart complex project in the city's Thủ Thiêm New Urban Area. The project is set to cost the investor VNĐ20.1 trillion (nearly US$884 million), excluding site clearance expenses. It aims to develop a multifunctional finance-trade-service and residential centre, in which finance, trade and service functions play a crucial role in the core area of Thủ Thiêm. Roads and technical infrastructure inside the complex and connecting with other areas in Thủ Thiêm will also be constructed under the project. The project is scheduled to be carried out in 72 months following approval of the investor and will be operated for 50 years by Lotte. Thủ Thiêm New Urban Area is located on the east of the Sài Gòn River, facing District 1, with total area of 657ha. It is expected to be a new centre of finance, commerce and services, along with culture and entertainment in HCM City. - VNS … [Read more...]

Viet Nam News HÀ NỘI - The Hà Nội Stock Exchange (HNX) raised government bonds worth some VNĐ25.1 trillion (US$1.1 billion USD) during 18 bidding sessions in April, down 23.9 per cent from March. The five-year bonds offer an annual interest rate of 5.1-5.22 per cent, while the seven-year bonds yield 5.43-5.48 per cent, up 0.12 per cent and 0.05 per cent from March, respectively. The others with 10-year, 15-year, 20-year and 30-year maturity have respective coupon rates of 5.99 per cent, 6.74-6.79 per cent, 7.1-7.36 per cent and 7.63-7.85 per cent, marking month-on-month decreases of 0.06 per cent, 0.11 per cent, 0.35 per cent and 0.27 per cent. On the secondary market, total volume of outright trading topped 640 million bonds, or VNĐ67.6 trillion ($2.97 billion), down 16.5 per cent in value over last month. Trading volume through repurchase agreements (repos) was more than 883 million bonds, equivalent to VNĐ85.9 trillion ($3.77 billion), down 2.6 per cent month-on-month. Foreign … [Read more...]

Viet Nam News HÀ NỘI - The country's total coal export volume in the year's first four months posted a seven times surge compared with the same period last year to reach 504,663 tonnes. The General Department of Customs said Việt Nam earned US$79.4 million from coal exports in the January-April period or a 13 times increase in comparison with the corresponding period last year. Average coal export price in the four months also increased to $157 per tonne, much higher than the $79 per tonne in the first four months of 2016. Notably, Việt Nam's coal export markets have witnessed changes, with China no longer the country's largest importer. The department said Việt Nam's main coal importers in the period were Japan, Indonesia, Taiwan, Malaysia and South Korea. - VNS … [Read more...]