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Business in brief
Date :  06/12/2017
(Sourced from various news agencies)
  • Japan External Trade Organisation Ho Chi Minh City (JETRO) and the Ministry of Planning and Investment's Foreign Investment Agency will co-organise the Invest Japan seminar in Ho Chi Minh City on December 19. The seminar aims to introduce the strengths of the Japanese market, the advantages of establishing a branch in Japan, as well as JETRO’s free support activities for enterprises in Vietnam looking to invest or establish a business in Japan. In terms of the economy, the number of Japanese enterprises investing in Vietnam continues to increase, while trade relations are on the rise. This seminar is a chance to learn about the investment environment in Japan as well as JETRO’s support activities. The seminar will be held at Saigon Prince Hotel, 63 Nguyen Hue Street, District 1, Ho Chi Minh City from 9 AM to 1 PM on December 19, and will be free of charge for guests. (VIR)
  • More than 200 audits will be conducted in 2018, focusing on State budget use, according to a plan from the State Audit Office of Vietnam (SAV). The audits will be carried out in ministries, centrally-run agencies, cities and provinces,  the General Department of Taxation and its chapters in localities.  There will be 23 thematic audits, including examinations of the efficiency of investment preferential policies in economic zones and the management and use of official development assistance. As many as 50 audits will be conducted on investment projects, including metro line 1 – Ben Thanh-Suoi Tien section in Ho Chi Minh City, Ben Luc-Long Thanh expressway, Cat Linh-Ha Dong urban railway in Hanoi, Lai Chau hydroelectric plant, Duong Noi new urban area in Hanoi and Quang Ninh airport. Under the plan, financial reports and the use of State capital and assets by 33 corporations and financial-banking organisations will also be examined. (VNA)
  • The Embassy of Vietnam in Argentina hosted a talk with local importers to promote trade between the two countries in Buenos Aires on December 5. Ambassador Dang Xuan Dung noted that the bilateral trade between Vietnam and Argentina rose by 20% annually from 2012-2016, after the two nations established comprehensive partnership in 2010; and they still have great potential to expand the lists of export items to each other. The two-way trade reached 2.3 billion USD and 2.9 billion USD in 2015 and 2016, respectively. It is expected to gain 3.5 billion USD this year, he said. Vietnam is now Argentina’s sixth largest trade partner with key currency earners being footwear, electronics, textile and garment and agricultural machines while the South American country is Vietnam’s second biggest supplier of foods and farm produces. (VNA)
  • A seminar took place in Hanoi on December 5 introducing the project on improving the value chain of Vietnam’s handicraft sector for 2017-2020. Ta Hoang Linh, deputy head of the Vietnam Trade Promotion Agency, said domestic firms have paid attention to design and trademark building in order to join the global value chain. He said within the framework of the project, both sides will establish the Vietnam-RoK design cooperation centre to improve design capacity and connect domestic and foreign designers together. The project will also operate an e-commerce channel to facilitate consumption and export of handicraft products, particularly in the RoK. Participants introduced specific activities of the project and proposed solutions to develop design and e-commerce channels. The event was co-hosted by Vietrade and the Korea International Cooperation Agency (KOICA). (VNA)
  • With a total investment capital of $32 million, Rang Dong Long An is a 80:20 venture between Rang Dong Plastics and Sojitz Planet. The project will house three factories on an 8.7-hectare area in the southern province of Long An. The factories will apply the latest technology from Germany, Italy, Japan, Taiwan, and Korea.  Ho Duc Lam, chairman of Rang Dong Plastics JSC, said that Rang Dong Long An is slated to put into operation in March 2018. With new investment and co-operation, Rang Dong Plastics aims to become a leading plastic supplier in Vietnam and one of the top 10 manufacturers in the Asia-Pacific by 2020. In the domestic market, Sojitz Planet has been collaborating with over 20 Sojitz Group companies. Taking advantage of this network, the firm will supply Rang Dong products to Ministop Vietnam operated by Sojitz Retail Sections. In its overseas markets, Sojitz Planet has already started supplying Rang Dong products in Cambodia, Myanmar, and the Philippines. (VIR)
  • The Bank of China in Ho Chi Minh City and China’s Shenzhen Stock Exchange held a conference in HCM City on December 5, aiming to seek cooperation with Vietnamese securities companies to lure Chinese investment to Vietnam. Speaking at the conference, a representative from the Vietnamese Ministry of Planning and Investment said Vietnam is exceptional among major markets in Southeast Asia. The official explained that in the first 11 months of this year, especially November, many foreign companies participated in divestments of Vietnam’s State-run groups and corporations. Vietnam’s stock market has grown the best in the region, even surpassing Thailand, Indonesia and the Philippines, with the index up 45% compared with earlier this year, the official said. (VNA)
  • Viettel ranks first among the 50 most valuable brands in Vietnam at US$2.569 billion, the military-run telecoms company announced on December 5. As one of the three major mobile operators in Vietnam, Viettel’s brand value in 2017 has nearly tripled last year’s figure reported by Brand Finance, a brand valuation service. Earlier Viettel had also been listed by the consultation service Vietnam Report as number one in the list of Vietnam’s most profitable companies and rated the largest taxpayer by the General Department of Taxation. In the first half of 2017, Viettel generated VND118 trillion (US$5.2 billion) in revenues and earned a pre-tax profit of VND21.672 trillion (US$954 million), both exceeding the company’s targets. In April, Viettel launched 4G services nationwide and currently has the largest 4G coverage with 36,000 stations throughout the country. (SGGP)
  • Masan Beverage Company Limited (MB), a wholly owned subsidiary of Masan Consumer Corporation, plans to make an offer to buy out Vinacafé Biên Hòa Corporation (VCF). MB will offer VNĐ202,000 (US$8.9) per share for the remaining 31.5 per cent stake to increase its ownership from 68.5 per cent to 100 per cent. The VCF board has passed a resolution to pay a cash dividend of VNĐ66,000 per share from retained earnings of approximately VNĐ2 trillion. The transaction is expected to close in the beginning of the first quarter of 2018, subject to corporate and regulatory approvals. Already a market leader in instant coffee with power brands such as Vinacafé and Wake-up, VCF has been achieving success in growing Wake-up 247, a coffee-flavoured energy drink and Vietnam’s fourth largest energy drink brand with approximately 5 per cent market share by volume. (VNS)
  • FPT Digital Retail Joint Stock Company is planning its IPO on December 15 and seeking to debut its shares on the HCM Stock Exchange prior to April next year. The FPT Corporation’s retail arm is the second biggest mobile handset retailer after Thế Giới Di Động (Mobile World), with over 450 shops nationwide. Its IPO is expected to be a magnet, similar to the Mobile World Investment Corporation’s IPO in 2014, given the lucrative outlook of Vietnam’s retail market. During a roadshow on December 1, Nguyễn Việt Anh, deputy chief executive officer of FPT Digital Retail, said the company expected to collect total revenues of about US$600 million in 2017, 10 per cent of which would come from online sales. Its profit is estimated to be VNĐ293 billion (roughly $13 million) by the year-end. (VNS)
  • Deputy Prime Minister Vương Đình Huệ has approved the equitisation plan of Hà Nội Trade Corporation (Hapro). The trade company has been valued at over VNĐ2.8 trillion (US$122.8 million) and has a charter capital of VNĐ2.2 trillion, equivalent to 220 million shares. Under Hapro’s equitisation plan, the State would divest entirely from the trading company. More than 1 million shares, or 0.49 per cent of its charter capital, would be sold to its employees and 143 million shares, or 65 per cent of the charter capital, to strategic investors. The rest would be sold to the public. The initial price was set at VNĐ12,800 per share. Hapro operates in import and export, commercial services, domestic trade and trade infrastructure development. In 2016, the company earned a revenue of nearly VNĐ4.1 trillion and a pre-tax profit of VNĐ65 billion. (VNS)
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