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BUSINESS IN BRIEF 26/9
Vietjet
receives its 27th aircraft
Vietjet’sbrand-new
aircraft, an A320 (coded VN-A662), yesterday landed at Ho Chi Minh City’s Tan
Son Nhat International Airport, after flying from
The
aircraft – an A320 with Sharklet wingtips – is the eighth of the milestone
agreement between Vietjet and Airbus for purchasing and leasing 100 aircraft.
Theaircraft with advanced design which helps reduce fuel costs, CO2 emissions
is expected to boost the carrier’s efficiency and protect environment.
To
welcome the new member of its fleet, the carrier will give away 500,000
promotional tickets for booking from midday to 2pm. Tickets on domestic
routes and international connections to South Korea, Myanmar, Taiwan,
Singapore, Thailand can also be snapped up for incredible prices (VND
199,000; VND 299,000 and VND399,000) for travel from now until April 22nd,
2016.
With
this addition to its fleet, Vietjet is now operating 27 brand-new and modern
A320s and A321s, helping the new-age airline to improve service quality and
further develop its network in Vietnam and across the Asia-Pacific
region.
Transport
Ministry reviews all projects
Minister
of Transport Dinh La Thang held a meeting to review transport projects that
began or were completed from January to September and those expected to be
begin or be completed in the fourth quarter.
Mr.
Tran Xuan Sanh, Director of the Transport Engineering Construction and
Quality Management Bureau, said the ministry has begun 37 projects and
completed 77 so far this year. To the end of the year it will kick-off 15
projects and complete 40 others.
Representatives
of project management units and advisory bodies at the ministry reviewed each
project and resolved any specific difficulties to ensure all
under-construction projects are completed on schedule.
At the
conclusion of the meeting Minister Thang asked the Bureau to conduct detailed
checks on every project, regarding the meeting of requirements in both
quality and time. “The Bureau is responsible for cooperating with project
management units and assigning the Directorate for Roads of Vietnam to
complete the work and put it into operation as soon as possible when a
project is completed,” he was quoted as saying.
Jan-Sep
revenue and expenditure in
The
Hanoi People’s Committee has announced that total revenue in Hanoi for the
first nine months was estimated at VND105.88 trillion ($4.7 billion),
reaching 74.7 per cent of the plan and increasing 13.5 per cent against the
same period last year.
Total
expenditure in the capital was VND40.99 trillion ($1.82 billion), or 69.4 per
cent of the plan and 15 per cent higher year-on-year.
Total
credit mobilized from financial institutions in
Export
turnover of all State enterprises in Hanoi during September reached $941
million, 0.2 per cent higher than in August and 15 per cent higher than in
September last year.
In the
first nine months export turnover by State enterprises was estimated at $8.2
billion, an increase of 0.2 per cent over same period last year, while the
export turnover of State enterprises under
Meanwhile,
the total import turnover of all State enterprises in
Import
turnover of State enterprises in the first nine months was estimated at $18.6
billion, an increase of 4.1 per cent against same period last year, with
imports by State enterprises under
Duane
Morris HCMC appoints Special Counsel
Law
firm Duane Morris has announced that Mr. Bach Duong Pham has joined its Ho
Chi Minh City office as a Special Counsel in the Corporate Practice Group.
Mr.
Pham’s arrival from Gide Loyrette Nouel further strengthens Duane Morris’s
international corporate capabilities.
He has
been advising clients in relation to banking and finance transactions as well
as corporate matters in
A
graduate of the Sorbonne University in Paris and the Moscow State Institute
of International Relations, Mr. Pham has been admitted to the Paris Bar
(Avocat à la Cour d’Appel de Paris). Together with his native Vietnamese he
is also fluent in English, French, and Russian.
Duane
Morris LLC, with more than 700 attorneys in offices in the
The
Manor Crown
The
Minh Dien Vital Real Estate JSC, an affiliate of the Bitexco Group,
officially announced The Manor Crown Hue on September 23 and opened a display
of the project.
The
Manor Crown Hue covers an area of 42,000 sq m on To
It
includes villas, apartments, houses, offices, a shopping center, a healthcare
center, a cinema, an indoor swimming pool, restaurants and coffee shops, and
a green park on 9,000 sq m.
The
project has total investment capital of VND620 billion ($27.5 million) and is
expected to be opened in the third quarter of 2017.
The
Manor has been a brand of the Bitexco Group since 2000, with The Manor Hanoi,
The Manor Ho Chi Minh, The Manor Eco Lao Cai, and now the Manor Crown Hue.
The next project is The Manor Central Park in
New
major export contract expected to drive rice prices up
Local
experts are pinning high hopes that domestic and export prices of Vietnamese
rice will be buoyed by Vietnam’s winning last week of a
government-to-government contract to supply 450,000 tons of 25% broken rice
for the Philippines.
Lam
Anh Tuan, director of Thinh Phat Co. Ltd, said the bidding price of rice
supply for the National Food Authority of the Philippines (NFA) was US$426.60
per ton, equivalent to the FOB (free-on-board) price of over US$350 per ton,
and this is a good price.
Tuan
told the Daily that the winning bid for 25% broken rice is higher than the
US$315-325 enterprises offered for a ton of the same rice when the tender was
opened. The price is even higher than the offered price of 5% broken rice.
The
domestic price of rice has not increased since
Unprocessed
IR 50404 rice, which will be processed and shipped to the Philippines, is
currently sold at VND6,100-6,150 per kilogram at Ba Dac wholesale market in
Tien Giang Province. This is equivalent to last Thursday.
The
price of fresh IR 50404 paddy in the Mekong Delta
Tuan
expected the export price of Vietnamese rice would go up owing to the
contract to supply 450,000 tons to the
“With
the new contract,
In
addition, the paddy of the summer-autumn crop has been virtually harvested
while rice output of the autumn-winter crop is not big and mainly used for
domestic consumption. Moreover, more Chinese importers could shift to
Vietnamese rice to ensure sufficient supplies, Tuan said.
Nevertheless,
Bich warned that competition from
Data
of the Vietnam Food Association (VFA) showed its member companies exported
more than 67,000 tons of rice with a combined FOB value of over US$29 million
from September 1 to 17. The respective figures in the year to September 17
had neared 3.9 million tons and exceeded US$1.6 billion.
Le
Méridien brand launched in Vietnam
Starwood
Hotels & Resorts Worldwide Inc. last week announced the debut of its Le
Méridien brand with the grand opening of the Le Méridien Saigon hotel in
downtown HCMC.
The Le
Méridien Saigon overlooking the
The
hotel on Ton Duc Thang Street features three dining venues, including Bamboo
Chic restaurant serving a combination of Japanese-Chinese cuisine fused with
European touches, Latest Recipe restaurant offering international buffets and
Le Méridien signature breakfast; and Latitude 10 for coffee and wines.
In
addition, guests can order food and beverage selections for dining-in or to
grab-and-go at Explore Bistro, as part of the Explore Spa & Health Club,
while éclairs and artesian chocolate can be found at Art Cacao.
Frank
Bochmann, general manager at Le Méridien Saigon, said in a statement that
HCMC boasts a vibrant hospitality market characterized by growing demand for
high-end accommodations and meaningful lifestyle experiences. The hotel’s
differentiated positioning can help elevate the city’s hospitality landscape
and highlight Vietnamese culture through programs.
Lothar
Pehl, senior vice president for operations and global initiatives of Starwood
Hotels & Resorts Asia Pacific, said
“Our
brand promises to ‘unlock’ each destination it enters, and is sure to ignite
a sensory discovery for creative-minded travelers in HCMC’s center of
commerce and culture,” Pehl said.
Le
Méridien Saigon is the fourth hotel managed by Starwood Hotels & Resorts
in
Starwood’s
robust pipeline in
Interest
rises in unbaked brick production from coal ash
A
dozen investors have registered to build factories to produce unbaked bricks
from slag discharged by coal-fired thermal power plants in
A
leader of the central province told the Daily about the number of investors
months after the public voiced concern over the improper handling of coal ash
at Vinh Tan 2 thermal power plant in Tuy Phong District, which led to air
pollution in nearby residential areas.
Every
day, thousands of tons of coal ash discharged by Vinh Tan 2 is dumped at the
plant’s landfill, which is covered and regularly watered to reduce pollution.
No effective long-term solutions have been deployed to solve air pollution at
the facility.
The
leader of
According
to the government of
Under
the national power development plan,
Therefore,
Tuy Phong District will face increased air pollution risk if no solutions to
treat and recycle coal ash are found.
An
investor proposed a plan to produce unbaked bricks from coal ash of Vinh Tan
2 thermal power plant at an investment promotion conference of Binh Thuan
held earlier this month. Nevertheless, provincial chairman Le Tien Phuong
said the province did not manage such coal ash but EVN thought the province
really wanted enterprises to consume the coal ash to ease environmental
pollution.
“If
investors and the operator of the thermal power plant can strike deals, the
provincial government will help investors find locations for their
factories,” Phuong said.
Currently,
18 operational coal-fired thermal power plants in
According
to the Department of Building Materials under the Ministry of Construction,
Pha Lai thermal power plant is the only facility to turn coal ash into
unbaked building materials and additives for construction of hydropower
plants. Meanwhile, other thermal power plants have yet to make any move to
deal with their coal ash.
Pessimistic
expectation for
The
Vietnam Association for Seafood Exporters and Producers (Vasep) has forecast
that shrimp export turnover would approximate only US$3.2-3.5 billion this
year, much lower than US$3.95 billion last year, despite a likely recovery
due to anti-dumping tax cut from the
The
association made the prediction at a seminar within the framework of the
Vietfish 2015 Expo in HCMC recently.
The
anti-dumping tax rate the
The
move has reduced difficulties and pressure on Vietnamese exporters but will
not much rebound the dropping turnover since early 2015.
The
export turnover to the
Last
year, frozen shrimp products of
However
the condition has not been advantageous this year because of common export
difficulties in agricultural, forestry and fishery industry and supply
increase in
Vietnamese
shrimp prices have fallen by US$1.5-2 a kilogram over the same period last
year. Exports brought only US$1.8 billion by the end of August, down US$800
million against the same period last year, although shrimp accounts for 43
percent of the country’s seafood export turnover.
The
product’s export to main markets saw a reduction of 14-54 percent. Export
price to the
Other
markets like
Beverages
post highest growth in FMCG segment
In the
fast-moving consumer goods (FMCG) market segment, beverages recorded the
highest growth of 6.7% and contributed 38% to total FMCG sales in the second
quarter of this year, according to a recent report of Nielsen.
However,
the 6.7% growth was slower than the 9.7% increase in the first quarter of
this year. The growth of beverages in quarter two was mainly fueled by a
sales volume increase and high demand for beer, and energy and sport drinks.
According
to the report released last week, after the Lunar New Year holiday,
In
contrast to beverages including beer, soft drink, energy drink, sport drink,
packaged water, tonic food drink, fruit juice, tea bag, ready-to-drink tea,
and coffee, sales of other major categories such as food, milk, household and
personal care, tobacco and baby care products remained challenging.
The
good news was that demand for FMCG products in rural areas was rising despite
low demand in urban areas. While the FMCG growth rate in the six key cities
seems to have reached saturation, rural areas have been rising as a new
source of growth for many manufacturers, Nielsen said in the report.
Nielsen’s
survey showed sales growth in rural areas was higher than in urban areas in
the last quarter with 2.7% and 1.6% respectively.
While
key categories remained challenging in the six key cities, 11 of out 18
categories saw sales expansion in rural areas. The top five categories in
terms of growth in rural areas were energy drink, dishwashing liquid,
ready-to-drink milk, bottled drinking water and soft drink.
Alex
Jeater, senior manager of retail management services of Nielsen
“The
rural community in
Furthermore,
rural residents have invested more in education, and enjoyed income growth of
around 44% over the last three years. However, these high-potential
opportunities remain largely unknown to many businesses.
Nielsen’s
report was based on the results on the major categories and tracking of
product movements through defined retail outlets.
World
oil price plunge hits
A
further oil price slide on global markets in August led
Data
of the General Department of Customs showed the country shipped abroad
823,000 tons of crude oil last month, up 2.8% against July, but export
turnover of the commodity fell 11.3% month-on-month to US$295 million.
As of
the end of August,
Of the
crude export volume, shipments to
Outbound
sales of other export earners like coal, rice, coffee and seafood plummeted
in the period. The country sold abroad nearly 1.3 million tons of coal worth
US$136 million, down 75.6% in volume and 64.9% in value year-on-year.
The
country earned US$1.74 billion from exporting four million tons of rice,
dropping 9.7% in volume and 14.3% in value year-on-year.
Rice
shipments to the
Seafood
exports brought in US$4.16 billion, down 17%, as exports to all major markets
plunged sharply. Exports to the U.S. dropped by 30.1% year-on-year to US$799
million, the European Union by 17.3% to US$751 million, Japan by 11.1% to
US$650 million, and South Korea by 12% to US$356 million.
Jan-Aug
trade deficit at US$3.76 billion
By the
end of August,
The
first eight months saw imports reaching US$110.26 billion, rising by 16.8%
year-on-year. US$64.9 billion of it came from FDI firms, rising 22.6% and
making up 59% of the country’s total.
The
country’s imports and exports in the year to August had increased 12.9% to
US$216.76 billion. Of which, FDI enterprises were responsible for US$137.25
billion, or 63.3% of the country’s total.
Private
funding for infrastructure projects up strongly
Private
sector capital committed to traffic infrastructure projects has since 2011
surged nearly 48% a year, much higher than the average capital increase in
this sector in the period, according to the Transport Development and
Strategy Institute.
Nguyen
Thanh Phong, head of the institute, said total capital for projects in the
sector from 2011 to 2015 has reached VND380 trillion, or an annual
increase of 38% .
Around
VND144 trillion (38%) of the total figure comes from the State budget, VND113
trillion (30%) from the proceeds of Government bond sales, and VND121
trillion (32%) from other sources.
Notably,
private sector funding soared from around VND8.79 trillion in 2011 to VND41.3
trillion last year and it is estimated at around VND41.98 trillion this year.
This means private funding has registered an average annual growth rate of
nearly 48%.
The
Ministry of Transport projected the combined amount of capital under its
management for transport projects in the 2016-2020 period would be about
VND1,009 trillion (US$48 billion).
The
total figure includes VND651 trillion for road projects, VND119 trillion for
railway developments, VND68 trillion for maritime projects, VND33 trillion
for inland waterway projects and VND100 trillion for the aviation sector.
The
funding will be mobilized from different sources, including VND376 trillion
from the State budget and proceeds from G-bond sales, VND285 trillion from
official development assistance (ODA) loans, and VND348 trillion from other
sources.
The
institute projected VND661 trillion will be needed for traffic infrastructure
development in the next five years or an average of VND132 trillion every
year, accounting for 2.65% of gross domestic product (GDP) if the country’s
economy expands 6% a year in the period.
Phong
said total finances for traffic infrastructure projects would be 4.2% of the
country’s GDP if disbursements for this sector via the budgets of local
governments are included. The proportion is higher than in previous periods.
Phong
said the state budget for the sector in developing countries accounts for
3-4% of GDP. The percentage could be 7-8% of GDP in some countries if they
want to create breakthroughs in the sector.
He
cited statistics of the World Bank as saying that total spending of central
and local governments on transport infrastructure development increased to
3.5% of GDP in 2013 from 2.5% in 2001, and capital disbursements from the
central Government made up 45-50% of the total funding for the sector.
Ban
on deposits for social housing
Investors
of social housing projects are banned from collecting deposits from home
buyers, the Ha Noi Department of Construction said.
The
department has recently issued an announcement for home buyers, suggesting
that they should carefully study the regulations and procedures while buying
or renting an apartment in a social housing project. This will help them to
avoid losing money on real estate transaction floors.
The
buying and renting of property should follow regulations in Decree
188/2013/ND-CP, dated October 20, 2013, and Circular 08/2014/TT-BXD, dated
May 23, 2014, on the development and management of social housing projects.
Accordingly,
households and individuals should submit their applications only to addresses
published on the department website soxaydung.hanoi.gov.vn and the official
websites of the investors, but not on estate transaction floors. It also said
home buyers should not accept illegal transfers in social housing projects.
The
announcement was issued as some investors and property transaction floors in
the capital have asked home buyers to pay deposits and prices higher than the
stipulated levels.
The
money will be their first payment after the signing of the purchase contract;
if they decide not to buy the apartment, they lose the deposit.
However,
many people registered to buy apartments in social housing projects, and then
decided not to proceed with the purchase. This made investments in such
projects risky.
There
are regulations on deposits for commercial house purchases, but none for
social housing.
Recently,
several social housing projects were put on sale on property transaction
floors with deposits of VND50 million to VND70 million per apartment.
For
example, the Dai Kim social housing project in Hoang Mai District, built by
Handico 5, announced that it would accept applications from home buyers from
September 3 to 17. However, some estate transaction floors offered the
project's apartments for deposits of VND50 million to VND60 million each.
The
transaction floors said the deposit would be considered as a commitment to
ensure that buyers were eligible to buy such apartments.
The
municipal People's Committee has asked the construction department to help
investors conclude home purchase contracts and grant certificates of land-use
rights to social housing projects.
The
department will review the sale and rent amounts at social housing projects
so certificates can be granted.
In
addition, it will push investors to organise apartment conferences to
complete technical and social infrastructure in each project.
The
department has also been asked to review projects that were converted from
commercial to social housing. The licences of those that have delayed
construction will be revoked and the projects handed over to other investors.
The review will be submitted to the People's Committee this month.
Builders
must now offer work insurance
In a
move to ensure workers' safety and regulate construction related insurance
mechanism, project owners and contractors undertaking construct-ion work
would now be under obligation to purchase insurance for their work and
workers, a draft decree issued for the purpose recently said.
According
to the draft, prepared by the Ministry of Finance, compulsory construction
insurance would be required in case of important national projects, large-scale
complex construction works and works that may potentially affect community
safety or the environment, and works subject to special technical
requirements.
Contractors
undertaking construction survey and design for construction works of grade II
and higher would be obliged to buy professional liability insurance, while
construction contractors would have to purchase insurance for their
construction workers.
The
insurance compensation for any damage caused to a construction work would
equal the full value of the work and must not be less than the contractual
value.
Meanwhile,
an insurance compensation worth VND100 million (US$440,000) would have to be
paid to kin of a worker who dies due to any accident at the construction
site.
The
draft further sets detailed conditions for construction insurers and
reinsurers.
Specifically,
a non-life insurance firm wishing to sell compulsory construction insurance
must be licensed to provide asset and damage insurance.
As for
the reinsurers, their equity must at least be equal to the legal capital,
while their solvency margin must not be lower than the minimum solvency
margin as regulated.
Particularly,
foreign reinsurers must enjoy a rating of at least "BBB+" by
Standard & Poor's or Fitch, "B++" by A.M.Best, "Baa"
by Moody's or obtain equivalent ratings in the fiscal year immediately
preceding the year of entry into reinsurance contracts.
Vietjet
spreads wings in “open skies”
Three
years after its maiden commercial flight,
In
just three years, Vietjet has consolidated its position as a force to be
reckoned with in the global aviation sector
On
September 5, to celebrate the re-opening of the Pleiku airport in the Central
Highlands
In
addition to increasing the number of routes, the airline is rapidly expanding
its fleet. In June, at the Paris Air Show 2015, Vietjet signed a deal with
aircraft manufacturer Airbus to purchase six more A321 jets worth $682
million. These aircraft will be delivered in 2017.
The
purchase of these single-aisle A321s is an addition to a deal that Vietjet
made last year with the European aircraft manufacturer for the purchase and
lease of 100 aircraft. In early 2015, a total of six A320 and A321 planes
from that initial order were delivered. As per the contract, Vietjet will
continue to receive six to twelve aircraft every year until the order is
complete. According to the airline’s website, this order for an additional
six A321s from Airbus further underscores Vietjet’s strong growth, which has
exceeded the expectations of the previous contract.
Vietjet’s
ambitious expansion is not limited to its dealings with Airbus. Last month,
Vietjet signed a Memorandum of Collaboration (MoC) with Boeing as the basis
for the two to nurture their partnership. The airline is considering buying
Boeing aircraft and equipment as well as other related services, and
co-operate with Boeing in other fields such as fleet development planning,
training and flight management, public relations, brand building, and
finance.
In
July, Vietjet signed a memorandum of understanding (MoU) with
All
these activities are part of Vietjet’s plan of continuous growth and
modernisation in order to achieve its goal of becoming a favourite airline
not only in
The
private carrier plans to continue expanding its fleet for the forseeable
future
More
than three years ago when carrying out its first commercial flights, the
founder of Vietjet said they wanted “everybody to fly.” The airline wanted to
bring about a revolution in transport, bringing a form of transport that is
modern and efficient to more Vietnamese and contribute to the development of
Supported
by the government’s policy to privatise air transport, over the past three
years, Vietjet has continued along a steady track of growth. To date, the
airline has transported 13 million passengers. It boasts a fleet of 26
aircraft, including A320s and A321s, and operates 180 flights each day,
domestically and to international destinations such as
According
to statistics from the Civil Aviation Administration of Vietnam, Vietjet
contributed 70 per cent of the growth in
At
present, there are more than fifty flights a day between
In
recent times,
Having
secured a loyal customer base, Vietjet has also been praised by the
Vietnamese government for strengthening
“I can
see the development of Vietjet and the love from its growing customer base.
The journey will continue to be difficult. I hope the airline will continue
to present to the world an image of a prestigious Vietnamese brand and of
In
January Vietjet opened its 2015 plan with the motto “Welcome Open Skies,”
which shows the company’s readiness to welcome the opportunities and
challenges presented by the establishment of the ASEAN Economic Community and
the subsequent open skies policy that member countries are scheduled to
adopt.
Countries
will have to open their skies for regional airlines, meaning that competition
will be much more robust. According to Luu Duc Khanh, managing director of
Vietjet, the airline has been implementing technological, financial, and
manpower preparations to capitalise on this process.
Aside
from keeping a close eye on the bottom line, the airline is also keen to
ensure its operational safety, and thoroughly trains its human resources to
ensure the quality of its services.
Last
month, the airline received the IATA Operational Safety Audit (IOSA)
certificate from the International Air Transportation Association (IATA) for
meeting international operational standards. Vietjet became the second
Vietnamese airline after the flagship carrier Vietnam Airlines to receive the
certification.
“The
IOSA certification shows that safety assurance is Vietjet’s top priority.
With our commitment to complying with world-class safety and security
standards, we expect to bring our clients safe, comfortable, joyful, and
friendly flights,” Vietjet’s managing director Luu Duc Khanh said.
In
January, the company unveiled its revamped training facility in
In
addition to providing air transport services and promoting tourism, Vietjet
aims to mobilise capital from international sources to invest in the
production of aircraft parts and space travel equipment in Vietnamese
industrial parks, as well as attracting foreign investment in aircraft
technical maintenance and training facilities.
“As
Vietnam’s air transport industry opens up to competition, there will be
challenges, but Vietjet believes that with the Vietnamese government’s
commitment to modernising and improving the sector, and with people’s demand,
we’re going to continue receiving support to develop both in scale and
quality,” said Khanh.
Vietnam
travel association, GfK partner to support tourism industry growth
The
Vietnam Society of Travel Agents (VISTA) and global market research agency
GfK announced Thursday a partnership to introduce a new reporting currency
for the local travel industry.
Under
the partnership, the two will produce a set of predictive analytics, the
first of its kind in
The
GfK Travelscan, which is based on consolidated and aggregated industry
booking data, is used by the travel industry to better anticipate market
developments and to help businesses in the sector run more efficiently,
according to GfK.
Travelscan
is one of a suite of specialized solutions for the travel and hospitality
industry developed by GfK, one of the world’s leading market insights
companies.
“Vietnam
unlocks a great potential for the travel and hospitality industry and GfK is
very glad to have the support of VISTA and its members,” Laurens Van Den
Oever, global industry lead for travel & hospitality with the market
research agency said.
“Travelscan
will serve to benefit all parties in the tourism sector and we are definitely
looking forward to play a key role supporting the further growth of this
exciting market."
GfK
has established similar partnerships in
“The
Vietnam Tourism Association (VITA) and VISTA value and appreciate the
importance of having real-time travel industry insights,”
“While
our government statistic office are already collecting and publishing
Vietnam’s general inbound and outbound tourism data each month, we have not
yet managed to obtain a regular multi-dimension and in-depth report from
travel agents—a new and valuable resource that will be provided by GfK
Travelscan.”
Travelscan
is already being implemented in
“GfK’s
Travelscan study has already proven its advantage in Europe, and we are excited
to be able to access similar reports for
“We
are certain that it will help the travel community here gain a better
understanding of the travel market, and the actionable insights will help
drive strong growth in this dynamic industry.”
New
regulations for duty-free goods applicable since November
Since
November 1, 2015, airline passengers would be able to purchase duty-free
goods on international flights to
This
is part of Decision No. 39/2015/QD-TTg which requires that the airlines must
be set up and operate in accordance with Vietnamese law.
Customers
shall have to present their passports and boarding passes. Air stewardesses
shall take note all customers’ information about name, number of passport,
number of flight and seat number.
Earlier,
under PM’s Decision 24/2009/QD-TTg, dated February 17, 2009 and PM’s Decision
43/2013/QD-TTg, dated July 19, 2013 promulgating the regulations on trading
in duty-free goods, enterprises were only allowed to trade duty-free products
at international airports and fights leaving Viet Nam to international
destinations. There were no regulations on tax exemption for passengers on
entry flights to
Meanwhile,
almost all international airlines are offering duty-free goods on
flights to
The
new regulation is in accordance with international practices and facilitate
foreign arrivals’ access to duty-free goods.
Brokerages:
No strong rises in Q4
Nguyen
Hong Khanh, head of analysis at Sacombank Securities Company, was quoted by
Dau tu Chung khoan newspaper as saying that three bank stocks BID, VCB and
CTG have strong impact on the VN-Index.
Bank
tickers’ market prices have increased over 30% since early this year, so they
are unlikely to rise further. Meanwhile, petroleum stocks have shown no signs
of recovering due to impacts of global falling oil prices.
Both
markets gained last week, with the VN-Index rising by 1.78% against the
previous week to end at 566.74 points. The
Liquidity
fell as the average matching volume on the southern bourse was down 9% to
78.2 million shares. It reached 29.8 million shares on the
The
stock indexes dropped slightly at the first session of last week. According
to review results of exchange traded fund (ETF) DB FTSE Vietnam in the third
quarter, BID, PDR and TTF will be added to its portfolio. This supported bank
stock BID to advance on high liquidity and buoy other bank tickers.
The
following session saw cash strongly flowing into index drivers, so the
markets rallied with strong liquidity.
Given
a lack of supporting news, the VN-Index went down last Thursday due to profit
taking when it neared the resistance level of 575 points.
According
to vietstock.vn, the markets fluctuated near the reference levels in the
morning phase last Friday. However, losses of bank stocks like VCB and CTG on
the HCMC market and ACB and SHB on the
Foreign
investors stayed on the buying side on the Hochiminh Stock Exchange. They net
bought VND164.5 billion worth of shares, chiefly VCB, SKG, BID and NT2, while
offloading VIC and MSN shares valued at VND42 billion and VND39 billion
respectively.
On the
Liberalisation
of trade necessary
Trade
liberalisation for environ-mental goods and services has become key to
Pham
Minh Nguyen, director of the
Last
year, the world trade value for environmental goods and services reached US$4
trillion, demonstrating a high growth rate. The value is expected to reach
$10 trillion by 2020.
The
Nguyen
told the Trade Liberalisation for Environment Goods and Services workshop,
held in Ha Noi yesterday, that the Vietnamese Government had passed several
policies to enhance the development of environmental goods and services.
Last
year, the market value for Vietnamese goods and services was $20 billion,
accounting for 0.5 per cent of the world total.
"Development
is not equal to the country's potential, nor local demand," he said,
adding that
Imports
accounted for over 80 per cent of the market value. Production of goods and
services in water and waste-treatment had yet to be developed.
There
were only 15 businesses operating in the environmental industry in
He
added that other countries had found it similarly difficult to promote trade
liberalisation of environment goods and services as there was no global
standard definition of goods and services.
Tran
Huy Hoan, a specialist from the European Trade Policy and Investment Support
Project (EU-MUTRAP), agreed that
Hoan
said that liber-alisation of goods and services could help the country expand
its market, promote investment, reduce environmental protection costs, and
create more jobs.
Chu
Van Giap from the Department of Science and Technology said that the
environmental industry in
The
lack of policies and mechanisms for the ind-ustry's development had been one
of the biggest barriers, Giap noted.
David
Luff, a specialist from EU-MUTRAP, recently established a list of products
which
VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VET/VIR
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Chủ Nhật, 27 tháng 9, 2015
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