Credit growth

Construction company Becamex IDC Corp has been cautious about this year’s business targets. Photo batdongsan.com.vn   Compiled by Thiên Lý Construction company Becamex IDC Corp has been cautious about this year’s business targets. Its consolidated turnover target is only VNĐ1.226 trillion (US$53.3 million), or 96 per cent of last year’s figure, and after-tax profit target is VNĐ252 billion, only 8 per cent higher than last year. In a document already sent to the company’s shareholders ahead of the annual general meeting, its general director, Đỗ Quang Ngôn, explained the reasons for setting such moderate growth targets. He said the real estate market is facing an imbalance between supply and demand in certain segments, and credit to the property sector is drying up. Externally, the global economy is expected to see a lot of volatility this year and likely to have a strong impact on the Vietnamese economy, he said … [Read more...] about Companies follow Government lead, set cautious growth targets

The positive results posted by Vietnamese manufacturers in support industries over the last 20 years have come mostly on the back of the development of the local motorcycle industry. Despite the government’s policies to limit the number of vehicles on Vietnam’s streets, there have been many opportunities in place for manufacturers to grow, according to Ms. Truong Thi Chi Binh, Vice Chairwoman and Secretary General of the Vietnam Association of Supporting Industries (VASI). “They are willing to be involved further in automobile support industries once volumes in the industry are sufficiently large, along with government support in terms of policies,” she said. Bright side The Export Mechanical Tool JSC (EMC), the Nhat Quang Steel Limited Company, and the Manh Quang Mechanics Co. - three of VASI’s 224 members - have posted good results from the flourishing motorcycle market. Reaching 3.38 million local and imported vehicles in 2018, Vietnam stood behind … [Read more...] about Auto support industries falling short

Lumitel, Viettel Group's mobile operator in Burundi. Viettel is among a number of Vietnamese pioneering companies investing in Africa. — Photo courtesy of Viettel Bilateral trade between Viet Nam and African economies has made significant growth in the past decade, however, there is still room for improvement. Two-way trade jumped 250 per cent to US$6.6 billion in 2018 from $2.52 billion in 2010, Deputy Minister of Foreign Affairs Dang Minh Khoi told a seminar on Friday. During that time, Africa became a favourite destination for Vietnamese companies that operate in telecommunications, agriculture and education such as the military-backed telecom group Viettel, he said. The two sides had also made improvements in political, social and diplomatic relations. Those facts prove the potential of bilateral co-operation between Viet Nam and African nations is huge, Khoi added. General Secretary of the International Organisation of la Francophonie (IOF) Louise Mushikiwabo said Africa … [Read more...] about Experts call for risk management to boost VN-Africa bilateral trade