BUSINESS IN BRIEF 1/11 Foreign tourist arrivals hit over 1 million again International tourist arrivals to Vietnam exceeded 1 million again in October, an increase of 5 percent over September and 24.7 percent from the same period last year, according to the General Statistics Office. It was the seventh month since the beginning of this year Vietnam has welcomed more than 1 million foreign visitors. The highest growth was seen in travellers from Asia with 29.4 percent, followed by those from Africa (23.6 percent) and Oceania (20.7 percent). More than 10.47 million foreigners have visited the country in the first 10 months of 2017, up 28.1 percent year-on-year with the biggest increase of 32.8 percent reported in Asian visitors. Tourists from the Republic of Korea rose by 53.9 percent, the highest jump during the period while Chinese came second with a surge of 45.6 percent. The Vietnam National Administration of Tourism has made efforts to boost tourism since early this year. It has held promotion events in Australia, Japan, Thailand, Malaysia, Indonesia, Finland, Denmark, Norway, Sweden and more over the last three months.  It also plans to use the APEC Economic Leaders’ Week 2017 as an opportunity to promote Vietnam’s beauty to international friends. Vietnam aims for an increase of 30 percent in international tourist arrivals, or 13 million foreigners, in 2017. Vietjet’s pre-tax profit hit 131 million USD in nine months Vietjet Aviation Joint Stock Company (HOSE code: VJC) posted a pre-tax profit of more than 2.98 trillion VND (131 million USD) in the first nine months of this year, according its preliminary business results which were released last week. In the third quarter, thanks to the expansion of new routes and operational improvements to existing routes, Vietjet’s revenue and profit increased significantly compared to the same period last year, and exceeded the company’s targets. Vietjet’s pre-tax profit stood at over 1 trillion VND in the third quarter, up 35.1 percent year-on-year. Air transport revenue reached 6.14 trillion VND, an increase of 34.4 percent compared to the same period of 2016. As of September 30, Vietjet’s total assets stood at above 26.28 trillion VND (1.15 billion USD), surging 57.4 percent year on year. During the nine-month period, besides adding five additional airplanes, Vietjet launched 13 new routes, increasing the total number of routes to 73, including 38 domestic routes and 35 international ones. Notably, Vietjet’s on-time performance ratio in the nine-month period was 85.4 percent. In the fourth quarter, the company is expected to open six new routes, raising the total number of new routes this year to 19. Based on the current business results, the firm estimated its pre-tax profit in 2017 could exceed the target, approved at the annual shareholder meeting, by 10 percent. VN goods shown at HK fashion fair     An increasing number of overseas buyers are sourcing products from Viet Nam as the country is rapidly improving its supply chain for locally made garments and taking part in more free trade agreements. The availability of a young, skilled labour force is also attracting foreign buyers to the country, Pham Thiet Hoa, director of the HCM City Investment and Trade Promotion Centre (ITPC), said during a recent interview with Viet Nam News. Hoa spoke on the occasion of the business-to-business fashion trade show which opened on October 27 in Hong Kong, showcasing quality garments, textiles, and products and services from fashion-related industries. As many as 27 leading Vietnamese manufacturers of garments, textiles, fashion accessories and garment-related industries are showing their products at the Global Sources Fashion Show, which will run until the end of the month. ITPC is supporting most of the Vietnamese pavilions as part of its mission is to help HCM City businesses and attract foreign investment to Viet Nam. “Viet Nam has become a more attractive complementary garment sourcing destination for overseas buyers. We’re seeing an increasing number of multinational firms from Taiwan, Hong Kong and Singapore making not only completed finished clothes, but also buying fabrics, textiles, yarns, plastics, printing and other accessories,” Hoa said. “They’re looking to expand their production capacity in Viet Nam and are shifting their production bases to Viet Nam to enjoy tax incentives and other advantages.” Before the show, ITPC worked with Global Sources, a Hong Kong-based B2B media company, to provide effective B2B export marketing workshops to help increase professionalism and buyer-supplier communication among firms. Vu Ngoc Khiem, chief representative of Global Sources, said: “In collaboration with ITPC, we have created a one-stop shop sourcing platform, for yarns and fabrics to completed clothes, from labels and tags and interlining fabrics to textiles and fashion bags, hats, caps and jewelry, so that buyers can meet businesses offline.” Vietnamese exhibitors have improved their manufacturing capabilities and expanded markets, finding new business buyers and growing exports, according to Khiem. Vietnamese-made garments can be alternatives to Chinese suppliers, he said, adding that competitive price points were also important. “The idea of our show is to help our buyers get in front of Viet Nam’s top-quality export manufacturers at one trade-show floor where decision-makers can meet and negotiate trade possibilities. “We’ve seen a trend where many export orders are shifting to Viet Nam not only because China is heading toward more sophisticated higher-value manufacturing industries but also because Vietnamese makers have stepped up to a new level of FOB export capabilities, and are more ready to compete with rivals via differentiation and excellent services, not just cost advantages anymore,” Khiem told Viet Nam News. Many of Viet Nam’s products will be featured during the fashion parade and at the New Market Pavilion, according to Khiem. Analysy’s Choice, the trusted column viewed and evaluated by top buyers, designers and sourcing professionals, has also taken note of many of these products, he added. Pham Minh Huong, director of the Viet Nam National Textile and Garment Group (Vinatex), said: “This is the third B2B tradeshow that Vinatex has exhibited with Global Sources. Vinatex aims to show buyers our wide range of production scale from small to mass production, and our one-stop sourcing house for buyers, from woven to knit items, with our developing ODM services.” “Our capability of supplying materials in a vertical integrated system impresses buyers,” she said. “Not only is this a good opportunity for us to collaborate with new buyers and see global trends, but it is a chance for buyers to learn about our group and other professional manufacturers from Viet Nam at one convenient offline event. We met several buyers face-to-face before the show and we will meet them again to further our discussion in the pipeline.” The four-day tradeshow will host 1,800 booths of accessories, fabrics and apparel from Viet Nam, China, South Korea, India and the Philippines. The event is expected to welcome more than 12,000 buyers from 150 countries and territories, including the US, the EU, Hong Kong and Japan, among others. The on-site Fashion Parade features many products made in Viet Nam, including totes, bags and jewelry. The show offers a unique one-stop shop theme where buyers can discover Vietnamese manufacturers offering all kinds of garments, textiles, labels, bra cups and fashion accessories. Other highlights include conference programmes, fashion parades and the Trends Forum, presented by Fashion Snoops and Pantone. Global Sources is a B2B media company and a primary facilitator of global trade using its integrated online and offline services. In Viet Nam, Global Sources helps match buyers and suppliers through offline events. City seeks help from private sector to achieve sustainable development goals     Startups and private enterprises in the country should work with local authorities on ways to achieve the UN’s Sustainable Development Goals (SDGs), Pham Hong Quat, director of the National Agency for Technology Entrepreneurship and Commercialisation Development, said on Friday. Speaking at an international Social Innovation Summit, Quat said that in HCM City the private sector could help build a smart, friendly city that would benefit its residents. Do Nam Trung, head of the Division of Technology Management and Markets under the city Department of Science and Technology, said the city had provided incentives such as facilities and capital to startups in innovative, creative industries. “The city has provided funds to develop business incubators, which have services for startups,” Trung added. Caitlin Weisen, country director of United Nations Development Programme (UNDP) Viet Nam, said that in May the Prime Minister signed a National SDG (Sustainable Development Goals) Action Plan, which identified a key role for the private sector in achieving the SDGs and the 2030 Agenda. “The idea behind SDG Entrepreneurship is for ambitious and creative entrepreneurs to look at the Global Goals as an opportunity to frame your business innovations,” she said. The intention is to create a win-win combination where sustainable businesses generate profits while delivering social and environmental benefits that contribute to achieving the SDG Goals, according to Weisen. Quat said that startups should be innovative in operation and development, contributing to local sustainable growth. Startups with a business model that can help solve public challenges would attract more capital from investment funds, he added. Startups should cooperate to build an ecosystem for sustainable startups, and connect with other enterprises and foreign companies to take part in global value chains, Quat said. Nguyen Thi Hong Minh, chairwoman of Boar, Traceability Solutions and Services Joint-Stock Co, said that enterprises in the country were loosely connected and should strive to work more closely to build brand names and markets so they can compete globally. The summit was held at HATCH!FAIR, the international technology startup exhibition and entrepreneurship conference, in HCM City on October 27-28 by HATCH!PROGRAM, a nonprofit Vietnamese initiative which connects the global startup ecosystem with Viet Nam. At the exhibition, more than 100 businesses from technology and creative industries as well as community builders and support organisations showcased their products and services with the aim of engaging networks of customers, partners and investors. Match-making activities in the HATCH!FAIR act as a bridge to bring business leads to angel and institutional investors and potential early-stage companies. HATCH!FAIR is part of HCM City Innovation, Startup and Entrepreneurship Week (WHISE 2017) held from October 23-28. The aim is to showcase and promote innovation, startups and entrepreneurship throughout the city. WHISE 2017 also featured technology exhibitions and an innovation and startup conference held yesterday by the HCM City People’s Committee in co-operation with the Embassy of Finland in Viet Nam. Speaking at the launch ceremony, Le Thanh Liem, vice chairman of the city People’s Committee, said: “The city’s model of sustainable development is primarily concerned with green growth and the knowledge economy, based on innovation, technology and start-up businesses.” Ten-month FDI grows 37% to $28 billion     Some US$28.24 billion in foreign direct investment (FDI) was poured into Viet Nam between January and October, representing a year-on-year increase of 37.4 per cent. This was stated by the Foreign Investment Agency under the Ministry of Planning and Investment. Of the figure, $16.3 billion was put into 2,070 new projects (up 32.9 per cent), $7.27 billion (up 35.9 per cent), into 1,001 operational projects that required additional investment capital and $4.67 billion into 4,156 capital contribution and share purchase projects. Foreign investment was concentrated in 19 fields, with the processing and manufacturing industry ranking first with $13.75 billion, accounting for 48.7 per cent of total investment. Electricity production and distribution came second with $5.63 billion, followed by real estate with $2.04 billion. As of October 20, FDI projects disbursed $14.2 billion, 11.8 per cent higher than the same period last year. Exports of FDI firms (including crude oil) reached $125.49 billion, posting an increase of 22.1 per cent from the corresponding period last year and accounting for 7.2 per cent of total export turnover. Their imports rose 29.2 per cent to $107.85 billion, accounting for 62.5 per cent of the country’s total import turnover. In the first 10 months of the year, the FDI sector saw a trade surplus of $17.63 billion including crude oil and $15.24 billion excluding crude oil. With $7.62 billion, South Korea continued to be the largest investor among the 112 countries and territories investing in Viet Nam, making up 27 per cent of total FDI, followed by Japan which invested $6.07 billion, or 21.5 per cent of total FDI, and Singapore with $5.59 billion. Foreign businesses provided capital to 59 provinces and cities nationwide. HCM City took the lead in FDI attraction with $5.03 billion, followed by Bac Ninh at $3.19 billion and Thanh Hoa at $3.16 billion. Some large projects were given investment licences in the January-October period, such as Nghi Son 2 BOT Thermo-power Plant with $2.79 billion investment in Thanh Hoa Province, Samsung Display Viet Nam project in Bac Ninh Province that added $2.5 billion and Nam Dinh 1 BOT Thermo-power Plant with $2.07 billion investment. — VNS Vietnam-China fair – promotion chance for Quang Ninh farm produce The upcoming 2017 Vietnam-China International Trade and Tourism Fair, to be held in Mong Cai city, is believed to be a golden opportunity for agricultural producers of the northern province of Quang Ninh. The fair is scheduled to take place at the square of the communications-culture centre in Hoa Lac ward of Mong Cai city from December 1 to 7. It will feature more than 400 booths, including some 300 booths of organisations, businesses and individuals of Vietnam, Thailand and Laos and 120 others of Chinese firms. It will showcase major products such as fruit, agro-forestry-fishery products, machinery, electronic devices, handicrafts, and wood products. Aside from introducing goods that Vietnam and Quang Ninh province have exported to China, the event is a platform to popularise local potential for trade, investment and tourism. A new activity for this year’s event is displaying speciality fruit and agricultural and seafood products of both Vietnam and China. Many booths will also introduce commodities made under the “One village, one product” programme in Vietnam. Along with an investment, trade and tourism promotion conference, a forum will be held to promote the trade of fruit and agricultural products through Vietnam’s Mong Cai and China’s Dongxing border gates, thus connecting Vietnamese and Chinese companies. Other activities will include a street festival in Tran Phu ward and a workshop promoting a free trade area in Vietnam-China border regions. The 2017 Vietnam-China International Trade and Tourism Fair, part of Vietnam’s national trade promotion programme, is the 12th of its kind held annually on a rotational basis between Mong Cai and Dongxing cities. The fairs have helped expand export markets, connectivity and win-win cooperation, contributing to the two countries’ trade, investment and tourism ties. This year’s event follows the inauguration of Bac Luan 2 Bridge, the second bridge linking Mong Cai and Dongxing, on September 13 and the installation of the last segment of a floating bridge connecting these cities in October. The floating bridge is part of the infrastructure of Mong Cai – Dongxing border gates, which were designated as ports of entry for trading fruit, agricultural products, seafood and wood products between the two countries. Earlier, Mong Cai authorities held a trade promotion conference including more than 100 businesses in Nanning city of China’s Quangxi province in September. A similar meeting with the same number of firms took place in Ha Long city of Quang Ninh a month later. Mong Cai city plans to hold two conferences promoting fruit and agricultural and fishery products trade in the Mekong Delta province of An Giang on October 30 and the central province of Binh Thuan in November. Quang Ninh is a coastal province in the northeast of Vietnam. It shares a 132.8km land border with Fangcheng district and Dongxing city of China’s Guangxi province. China is currently Vietnam’s top trade partner while Vietnam is China’s biggest partner in ASEAN and the ninth biggest in the world. Vietnam’s statistics showed that bilateral trade reached 71.9 billion USD in 2016, up 7.9 percent over the previous year. The country’s trade deficit with China fell 13.67 percent year on year. By the end of August 2017, trade between the two countries had hit 55.2 billion USD, up 23.59 percent from a year earlier, with Vietnam running a deficit of 17.7 billion USD, down 5.76 percent. Phu Quoc moves towards smart city status The first phase of a project to build a digital network infrastructure that will help Phu Quoc Island become a smart city has been completed, the Vietnam Post and Telecommunications Corporation (VNPT) has announced. VNPT General Director Pham Duc Long said the corporation has completed a project upgrading e-government software, installing cameras at designated points to manage security. It has also finished installing wireless broadcasting equipment in tourist sites under the Smart Wifi project, deploying accommodation management software for hotels and guest houses. The e-government system has linked administrations from the commune to the provincial level, helping people and enterprises in the district complete administrative procedures online to get licences or register their businesses. "Soon, each resident have a unique electronic account to deal with governments at all levels," Long said. Four air monitoring stations and one water source observation station have been deployed in the island district. The environment monitoring system will collect, process, analyse and deliver real-time data to alert users on air and water contamination, and provide recommendations on how to respond. The VNPT also has built a safe city solution with many mobile applications that will help people report incidents (accidents, theft, acts of violating urban security) to management agencies and also help the latter respond quickly. To manage and operate the above-mentioned systems, Phu Quoc has built a centralised operation centre tasked with receiving complaints from citizens, visitors and organisations; improving traffic safety, co-ordinating emergency responses and performing other important functions. “I am confident that the operation of centralised centre will make an important contribution to enhancing the district’s management efficiency as well as the quality of service provided to people and businesses. This, in turn, will contribute to delivering convenience, comfort and safety to visitors who come to Phu Quoc,” Long said. Applauding VNPT’s efforts in helping building a smart city, Mai Văn Huynh, Vice Chairman of the Kien Giang People’s Committee, called for concerted efforts to ensure that the project is completed in time. The corporation has announced that in the project’s second phase, it would implement highly sophisticated platform systems like the Internet of Things. The 67 billion VND (2.9 million USD) project to make Phu Quoc a smart city by 2020 was approved by the province Kien Giang People’s Committee in April this year. Phu Quoc is Vietnam’s largest island, covering an area of nearly 600 square kilometers with a population of over 100,000 people.    Soc Trang to feature macaques as tourist draw The Mekong Delta province of Soc Trang aims to preserve 350 long-tailed macaques monkeys living in a mangrove forest and develop eco-tourism as part of its tourism development plan by 2020. Cu Lao Dung district has about 350 long-tailed macaques living in the natural mangrove forest of nearly 1,640 ha in An Thanh Nam commune. Le Minh Duong, Vice Chairman of the district’s People’s Committee, said the plan would not only help protect the macaques and the biodiversity of the forest, but also support for developing ecological tourism in the district. The natural mangrove forest is located on An Thanh Nam Island, which has a diversified biodiversity with thousands of animals and plants giving a great potential for eco-tourism development, he said. The district has tasked the commune authority to collaborate with security guards, ranger forests and relevant agencies to manage and monitor the prevention of illegal hunting of macaques. The district also plans to improve infrastructure and promote some typical local products to attract tourists, according to Duong. According to Tran Minh Ly, Director of the province’s Department of Culture, Sports and Tourism, the macaques often climb to the trees in the forest when water levels rise and go down to the ground to find food when the tide recedes. This behavior is a unique feature for tourism development. In addition, the provincial People’s Committee has given approval to the district to develop a 300 ha eco-tourism fruit garden. Luong Minh Quyet, Director of the province’s Department of Agriculture and Rural Development, said the department had supported providing nutrition foods for the macaques to ensure their health and growth, and help them become friendly with people. The department was wrapping up a plan to build an area for the macaques to develop them into a unique tourism product for the province, he said.- Vietnam earns nearly 210 mln USD in October fruit, vegetable exports Exports of fruits and vegetables in October are estimated to reach 209 million USD, raising total export value of the products to 2.84 billion USD in the first 10 months of this year, up 41.2 percent over the same period of 2016. According to the Ministry of Agriculture and Rural Development (MARD), China, Japan, the US and the Republic of Korea were the leading markets of Vietnam. Meanwhile, the highest growth was seen in the Japanese market with 66.1 percent, the UAE was second at 58 percent and growth in China hit 53.1 percent. The ministry also reported that imports of the products were 96 million USD in October and 1.25 billion USD in the first 10 months of 2017, surging 70.8 percent year on year. The ministry said that the fluctuation in vegetable and fruit market was due to complicated weather developments that changed both supply and demand. Notably, heavy rains in the month destroyed a lot of crops, almost doubling vegetable prices. Cooler weather in central and northern regions also lowered fresh coconut prices in Ben Tre province from 80,000 VND per dozen to under 60,000 VND per dozen. A shortage in fruits in the north also led to high prices of longan and dragon fruit, added the MARD. Hoa Sen opens largest plant in central region Hoa Sen Group commenced the second phase of Hoa Sen Nhon Hoi Factory, located in Nhon Hoi Economic Zone in the central province of Binh Dinh’s Quy Nhon city on October 29. The Hoa Sen Nhon Hoi Factory is the group’s 11th plant and largest one in the central region, which was built on an area of 21.3ha with a total investment of 2 trillion VND. The second phase of the plant includes five production lines, namely, a galvanising line with a capacity of 250,000 tonnes per year; a cold rolling line, having a capacity of 350,000 tonnes per year; a pickling line with 800,000 tonnes per year; colour-coated line with 150,000 tonnes per year; and an acid recycling line of 5,000 litres per hour. It is expected that the second phase will be completed by the end of 2018, which will create jobs for 1,000 workers. On the same day, the Hoa Sen Group also inaugurated the first phase of the factory, which has been completed with three main lines — galvanising line with a capacity of 180,000 tonnes per year, colour-coating line with a capacity of 45,000 tonnes per year, and a slitting line with a designed capacity of 100,000 tonnes per year. Hoa Sen Group Chairman Le Phuoc Vu said that Hoa Sen Nhon Hoi would meet the needs of the central and central highlands provinces, as well as export to Laos, Cambodia, Thailand, Europe and America. Chairman of the provincial Binh Dinh People’s Committee Ho Quoc Dung highly appreciated the process and the investment efficiency of the Hoa Sen Group in the province. This is the third project of this group in Binh Dinh. Dung said he hoped the province would receive more investment from the group in the future. The continuous expansion of the Hoa Sen Group’s recent production system has enabled its products to be available in more than 70 countries and territories. In the fiscal year 2016-2017, Hoa Sen sold more than 1.66 million tonnes of products, of which 587,000 tonnes were exported, up 28 percent over the previous year. The total turnover was 26 trillion VND, of which the export revenue was over 420 million USD. For the 2017-2018 fiscal year, Hoa Sen is focusing on developing potential export markets, such as Europe, America and India.     Organic produce: Food for thought As the concept of ‘good food, good life’ becomes more commonplace in Vietnam, consumers are paying more attention to what they consume on a daily basis. ORFARM brings organic food to your table - Orfarm is opening its sixth store on November 4, in Syrena Tower at 51 Xuan Dieu, Tay Ho district, Hanoi, www.orfarm.com.vn Choosing well-fed and happily-raised animals as well as properly cultivated vegetables not only improves one’s health, but by eating properly sourced food, one can reduce the impact they have on the environment and preserve the ecosystem for posterity. Roughly 80 kilometres from Hanoi in the mountainous province of Hoa Binh lies an organic farm where pigs, chickens, and pigeons are raised in an ethical and sustainable manner. The farm even has a playground that is designed for the chicken to get their daily exercise. Fresh vegetable gardens are found close by, with a number of seasonal varieties popping up in rows; without the use of harmful herbicides, insecticides, or other pesticides. The farm is specifically developed and run using the Japanese application of effective micro-organism (EM) technology, by the Orfarm (Organic Farm) brand, aimed at creating greener and healthier living standards for both the current and next generations. EM in particular is a way of growing human-friendly and environmentally safe products by the EM Research Organisation, which uses beneficial micro-organisms such as lactic acid bacteria, yeast, and phototrophic bacteria in the agricultural production process. As EM is applied during all phases of the farming process, from the breeding and raising of livestock to the planting and cultivation of vegetables, everything is highly controlled, from input to output. From farm to table, Orfarm products have no adverse effects on humans or the environment. “We’re not creating value for ourselves, what we’re doing with our happy farm and animals is doing a good deed for the general community and the children of the future,” said Bui Bich Lien, president and CEO of Orfarm. “So I have a question for food buyers in general: why aren’t you investing in your health or your quality of life right now, by picking quality food?” she asked. At the end of the day, consumers make the choice. More and more, they are selecting quality organic products that come directly from a trusted farm. As the popularity of organically-sourced food expands, more sustainable farming techniques will surely come into focus. Can Tho builds bonds with firms from Japan With financial strength, state-of-the-art technology, and management expertise, Japan is one of the important business partners capturing special attention from the Mekong Delta city of Can Tho for investment co-operation. Huu Phuc reports. From late May until now, Chairman of the Can Tho People’s Committee Vo Thanh Thong has twice visited Japan’s Kansai prefecture for co-operation and investment promotion, accompanied by leaders of city-based state agencies and businesses. The most recent visit came in mid-October, to Okayama and Wakayama provinces. According to director of the Can Tho Investment-Trade Promotion and Exhibition Centre Nguyen Khanh Tung, apart from meeting local government leaders and making field surveys at some Japanese businesses’ production workshops, the Can Tho business mission hosted two seminars for business networking, which attracted about 150 Japanese companies. On this occasion, Can Tho leaders presented opportunities for investment co-operation in the city, and responded to issues the Japanese investors brought forth. In particular, Thong highlighted several social and economic infrastructure projects which promise to be highly appealing to foreign investors. In 2018, more flights are set to launch directly from Can Tho to other domestic and international destinations like Haiphong, Nha Trang, Bangkok, Singapore, and possibly to Japan’s Kansai International Airport. A golf course and an international hospital are also slated for completion in late 2018, while Ho Chi Minh City-Can Tho Expressway is slated for completion by 2021. Additionally, the investment proposal of Can Tho International University has been approved, and a high-end apartment project invested by the Can Tho Investment and Development Fund is awaiting investment from Japanese businesses. After the visit, Can Tho and the city of Okayama signed a joint statement to push mutual co-operation in industry, agriculture, and tourism. In the meantime, Can Tho signed memoranda of understanding with four Japan-Vietnam friendship associations, laying the groundwork to deepen bilateral co-operative relations. In an earlier trip to Japan in late May and early June, Can Tho and Japan’s Hyogo province signed a joint statement on co-operation where both sides vowed to facilitate trade development and investment promotion from Hyogo to Can Tho, and strengthen economic co-operation through increased trade, tourism, and human resource training. In the past year, Can Tho has also received a number of Japanese government leaders and business missions searching for investment opportunities in high-tech agriculture, education and training, and environmental sustainability. Infrastructure reforms steer growth in Thai Nguyen To elicit domestic and foreign investment, the northeastern province of Thai Nguyen is expediting a raft of synchronous measures, including infrastructure reform, to grow its economy in a sustainable manner. In recent years, Thai Nguyen has emphasised the development of technical and industrial park (IZ) infrastructure, positioning it as a vital tool to attract investment and drive the province’s urban, social, and economic development. With respect to transport infrastructure, investment capital was put into building major roads with big impacts on provincial development. These projects included building the new National Highway 3 linking Hanoi to Thai Nguyen, upgrading former National Highway 3, the Thai Nguyen-Cho Moi (Bac Kan province) route, and the roads and urban complexes belonging to the Thai Nguyen city urban development project, to name but a few. The projects have helped enhance connectivity between Thai Nguyen and Hanoi as well as other northern locations. As for IZ infrastructure, the province is currently home to six well-planned IZs covering 1,420 hectares, four of which have come into operation, scoring 170 investment projects, including 85 foreign-invested ones valued at more than $7 billion in total committed capital, and 85 domestic investment projects worth over VND12.8 trillion ($582 million). The most eminent projects are run by South Korean tech giant Samsung Group and its satellite businesses. Province-based IZs enjoy a developed transport network and the availability of associated infrastructure, such as power, water supply, wastewater treatment, fire prevention, and security systems. Most of the planned IZs spread along new and former National Highway 3 (Yen Binh, Diem Thuy, Nam Pho Yen, Song Cong I, and Song Cong II IZs), as well as provincial routes, helping to ensure connectivity with technical and social infrastructure systems inside and outside province-based IZs. “As a satellite unit to Samsung, after the tech giant landed their project in Thai Nguyen’s Yen Binh IZ, we studied the possibility of setting a foothold in the province. After the survey, our company has chosen to build a factory in Diem Thuy IZ due to its proximity to Yen Binh IZ and the new National Highway 3,” said Kim Byeong Hun, director of Dongsung Vina Limited based in Diem Thuy IZ in the province’s Phu Binh district. Thai Nguyen has done a smart job ensuring province-based IZs have access to comprehensive infrastructure to facilitate their operations. For instance, an approach road linking Diem Thuy IZ to Yen Binh IZ and the new National Highway 3 was recently put into use, supporting goods transport of businesses based in Diem Thuy IZ to other destinations in the province and in Hanoi. Regarding the energy system, the province has succeeded in attracting investors into building Cao Ngan and An Khanh thermal power plants, as well as large transformer stations at Yen Binh and Diem Thuy IZs to serve businesses and connect to the national power grid. The information communications technology infrastructure has been developed robustly with the presence of thousands of base transceiver stations, while the optic cable network has now reached most residential areas in the province. The 4G network has also reached the province’s major areas. The World Bank-funded Dynamic Cities Integrated Development project is expected to benefit Vietnam’s five cities and provinces, including Thai Nguyen. The project aims to boost the development of stakeholder localities, leveraging the application of urban integrated solutions on infrastructure development and urban management. The project component in Thai Nguyen has a total investment capital sum of $100 million. According to World Bank senior urban development expert Phan Thi Phuong Huyen, “Thai Nguyen is the locality scoring the most confidence with the World Bank in both project implementation and loan repayment capacity.” As scheduled, after the project receives the Vietnamese government’s approval, the World Bank will evaluate the capital scheme in March 2018, paving the way for official implementation from July next year. Huyen from the World Bank has suggested Thai Nguyen to concentrate on developing public transport, producing clean agricultural items, and exert better control over urban water drainage systems. The project’s success will gear the city of Thai Nguyen’s urban infrastructure towards modern and sustainable development, matching the criteria required for a Grade 1 city’s technical infrastructure, while in the meantime propelling economic development through strategic infrastructure investment development. The prime target is to turn  the city of Thai Nguyen into the centre of political, cultural, educational, healthcare, tourism, and services of both the province and northern Vietnam’s midland and mountainous region. Navigos introduces first application for IT job seekers topITworks, an online IT recruitment website of the Navigos Group, has just launched the first job search application in Vietnam for the IT community, available on both Android and iOS platforms. The application integrates convenient job search features and at the same time includes information on career orientation for IT job seekers. Up to 60 per cent of users use mobile devices to access the website, according to topITWorks’ latest survey. In order to provide the best experience to users, topITworks officially launched an online job search application on Android and iOS platforms, the first mobile application for the IT community. topITworks has over 1,500 jobs in the IT industry. The new application integrates a search engine and filter based on programming language and salary range. Job alerts are emailed to users based on the “job skills” candidates wish to search for. It has a simplified application interface with a mobile-friendly design, and a jobs bulletin feature appears after accessing the application. In particular, the mobile application is applying “learning machine” technology for the search and filter system. The application not only suggests jobs based on keywords but also studies users’ behaviors based on search history, suggesting the most appropriate jobs and making job searches faster and more convenient. According to the Navigos Group, Vietnamese IT candidates are considered by recruiters to be hard working, smart, and quick learners. But there are also areas in need of improvement, such as a lack of clear career orientation, frequent job hopping, a lack of passion for their job and a lack of engagement with the company, and high requirements compared to capacity. They also tend to lack soft skills such as communication skills, problem solving skills, and English skills etc., which will affect promotions. In order to solve these problems, topITworks is not just an IT job search portal but also develops “knowledge” that covers the experience of IT specialists, career orientation, and advice for IT candidates in interviews, etc. With new articles every day, topITworks is also a place for sharing information among those who wish to learn more about the industry. Vietnamese startups grappling with Industry 4.0 The fourth industrial revolution (Industry 4.0) is an opportunity for underdeveloped countries to catch up with developed countries but it seems that Vietnamese enterprises, including startups, are largely out of the game, the “Digital Enterprises 2017: Digital Age and Startup country” forum heard. Senior expert Henry Nguyen Huu Thai Hoa, Director of the CTS Center, disagreed with many thoughts that Vietnam will lead in Industry 4.0, because of its weak research and development (R&D). “Vietnamese enterprises talk about mechanisms but don’t know how to apply digital technology at their companies,” he believes. He also emphasized that if enterprise leaders do not change their thinking and apply new technologies, they will not develop. Although Vietnamese enterprises have to cope with various challenges, they still have potential opportunities from Industry 4.0. Over the last five years, Vietnam has led in smartphone growth and internet penetration globally. Industry 4.0 has changed Vietnam’s economy, politics, and society. Dr. Nguyen Van Nam, Director of the Research Institute for Brand and Competition Strategy, expects there will be a number of countries, including Vietnam, that apply digital technology to change their entire socioeconomic landscape. “The leading force in Vietnam is enterprises and they will have to become digital enterprises, but they must reorganize and the government should have practical policies in support,” he said. General Director of iBosses Vietnam, Tang Ngoc Truong An, said that Vietnamese enterprises have two challenges in their early days: programs and confidence. “They must respect global rules and information technology,” he said. “Knowledge is important for startups and Vietnamese need to learn how to start a business.” It can be difficult for enterprises to begin using digital technology based on the experience of developed countries. Although the Vietnamese Government has a decree on digital technology development, success is based on the actions of enterprises. Son La coffee geographical indication announced The northwestern province of Son La has announced Son La coffee as a collective brand and held Mai Son Coffee Festival in Mai Son district, an occasion to promote local coffee products. In the late 19th and early 20th centuries, French colonialists began planting coffee in Son La and other northern provinces, turning this region into an important producer of raw Arabica coffee for the French coffee industry of the time. The coffee area in Son La has been expanded, concentrating in Mai Son and Thuan Chau districts and Son La city, especially since 1995 when the provincial People’s Committee approved a project to plant 3,000ha of coffee trees. The province considers Arabica coffee as a key plant for poverty reduction and economic development. At the event on October 27, Chairman of the Mai Son district People’s Committee Tran Dac Thang said Son La is home to more than 12,000ha of coffee trees, 4,200ha or 34 percent of which are in Mai Son. The district harvests some 52,000 tonnes of coffee each year, earning 368 billion VND (16.2 million USD) in revenue. Up to 80 percent of coffee beans made in Son La are exported to the US, Japan and some other countries, he noted, adding that the reputation of Son La’s Arabica coffee has improved, asserting the province as a major Arabica producing hub of Vietnam. The same day, local coffee and agricultural products were introduced at the festival. On this occasion, the construction of a coffee factory named Phuc Sinh Son La in Chieng Mung commune of Mai Son district was launched. It is expected to be complete in eight months at total cost of 48.6 billion VND (2.1 million USD). HCM City to host farm produce fair     The Seventh Farm Produce Fair is scheduled to be held at the Go Vap Flower Village Park in Go Vap District from November 2-6. The fair will have 145 booths set up by more than 81 exhibitors from 15 cities and provinces, including 93 booths from HCM City and the rest from Ben Tre, Long An, Tien Giang, Vinh Long and Binh Thuan. It will have seven areas displaying works created from fruits, orchids, bonsai, processed farm produce, handicrafts and products made in traditional villages. Co-operatives’ products and services, wooden products, and food courses will also be offered. A seminar on the role of farmers’associations in developing clean products and linkages for consumption of products will be held on the sidelines of the fair. Organised by the HCM City Farmers Association and Department of Agriculture and Rural Development and Department of Industry and Trade, the event offers farmers a chance to promote trade of their products. The fair is also a platform for farmers to exchange experiences, access new information and technologies in the agricultural sector, and develop linkages between farmers and distributors. This year is the first year that the fair is being held twice in one year, with the first fair held in June. HCM City to host international fair for mothers and kids     The Viet Nam International Maternity, Baby and Kids Fair (Viet Baby Fair 2017) will return to HCM City from November 2 to 4. To be held at the Saigon Exhibition and Convention Centre in District 7, the fifth Viet Baby Fair 2017 will feature 314 booths from 186 exhibitors from 12 countries and territories, including South Korea, Australia and China. A wide range of products and services for mothers and kids such as foods, toys, clothes, household utensils, cosmetics, health products and educational services will be displayed. The fair has attracted well-known brands in nutrition, toys, fashion for mothers and kids, education, spa services and other goods and services, including Unicharm, Baby Plaza, Nestle, Lotte Mart, Viet Tinh Anh, SD Toy, Lullaby, GG Fashion, Albetta, Milky House, Kawaii Spa, Daekyo, Wall Street English, Global Arts and AIS. Prenatal classes as well as seminars on healthcare, nutrition and early childhood education with Japanese style, among other topics, will be held during the fair. The fair will also feature other activities, including games for children and the family, an area for children to read books and paint small statues, promotion programmes, and more than 10,000 entrance gifts to visitors. Organised by Coex Viet Nam, SEGE Fairs Co. Ltd, Me&Con magazine, Webtretho forum and Vinexad, the fair offers consumers high-quality products and services at sharp discounts from famous local and foreign brands, while providing a platform for exhibitors to understand more about the market. It is expected to welcome more than 28,000 visitors HCM City economy remains on track: meeting Foreign and domestic investment in HCM City has significantly increased and industrial production remains robust, a meeting to review the city’s socio-economic development in the first 10 months of this year on October 30 heard. According to a report from the municipal People’s Committee, foreign investment doubled from the same period last year to 5 billion USD, including in some giant projects such as the smart complex (886 million USD) in the Thu Thiem Urban area and KNT Asia (215 million USD). “Domestic investment has increased significantly with new investment and added capital at 3.4 times last year’s figure,” Vo Van Hoan, head of the city’s People’s Committee Office, told the meeting. Nearly 34,000 new companies with a combined capital of 717.6 trillion VND (32 billion USD) have been licensed. The city’s revenues in the first 10 months increased by 11.1 percent to 278.5 trillion VND (12.4 billion USD), or 80 percent of the full-year target. Job creation, vocational training and support for poor people have been done efficiently to ensure social welfare. The number of jobs created rose marginally to 273,225, or 98 percent of the target. Services and retail sales grew by 11.6 percent to 767 trillion VND (34.1 billion USD) and industrial output expanded by 7.75 percent. The city’s four key industries -- engineering and automation; electronics; chemicals, rubber, plastics; and food processing -- continued to perform strongly, expanding markets, investing in technology and improving quality and competitiveness, growing at 12.7 percent. Electricity supply grew by 4.9 percent to 19 billion kWh. The rate of electricity loss fell by 0.34 percentage points to 4.12 percent. Exports were worth around 29.15 billion USD, an increase of 13.3 percent. Exports to some markets grew significantly, including to Singapore (86.3 percent), Myanmar (65.6 percent), India (35.5 percent), Malaysia (34.9 percent), Thailand (34 percent), and China (22.6 percent). Exports of rubber increased by 32.6 percent and of computers and electronics, by 29.6 percent. Imports cost 35.17 billion USD, an increase of 15.4 percent. “Authorities have paid close attention to the environment, flooding and the traffic situation,” Hoan said. “However, poor management and cumbersome administrative procedures are still very common in many areas. “The city is working with relevant authorities to improve State management in all fields from now to the end of this year.” The city’s economy had grown by 8 percent in the first three quarters of this year. Canada initiates anti-dumping investigation into Vietnamese copper pipe fittings The Canada Border Services Agency (CBSA) has announced that it will initiate anti-dumping and anti-subsidy investigations into copper pipe fittings imported from Vietnam. The investigation was conducted following a complaint lodged by Cello Products based in Cambridge, Ontario. The investigation period is from January 1, 2016 to August 31, 2017. December 4 will be the deadline for Vietnamese exporters and Government to send their answers to CBSA questions to the address: Canada Border Services Agency -Trade and Anti-dumping Programs Directorate SIMA Registry and Disclosure Unit 100 Metcalfe Street, 11th Floor Ottawa, Ontario, Canada-K1A 0L8-Tel. (for courier reference only): 613-948-4605-Fax: 613-948 4844-E-mail at: simaregistry-depotlmsi@cbsa-asfc.gc.ca). CBSA will announce its preliminary conclusion on dumping prices and receiving subsidy on January 25 2018 and issue the final decision on April 25, 2018. Relevant agencies should send their arguments before the afternoon of March 19, 2018. Vietnamese accelerator helps launch 11 startups The second batch of startups from the Vietnam Innovative Startup Accelerator (VIISA) graduated on October 25 after three months of mentorship under prominent venture capitalists and entrepreneurs from the region. The graduation ceremony for 11 startups was held at the Hard Rock Cafe in Ho Chi Minh City, and attended by more than 100 investors, corporate partners and mentors. Over the last three months, the startups have worked hard to create products that fit market demands and prove that they have scalable, repeatable business models. The teams got to work closely with investors such as Spiral Ventures (Japan), and join office hours mentorship with the Startup Ecosystem team from Amazon Web Services and the CFO of Microsoft Vietnam, among others. Dr Le Hoang Anh, chairman of VIISA and managing partner of Dragon Capital, said that VIISA had become surprisingly well-known in the region in a short space of time. He said the launch of the different startups was a “testament” to the hard work and support from VIISA, government officials and corporate partners. “I am excited for the journey ahead.” The 11 startups range from sales and advertisement platforms, food and delivery services to training a platform for jobseekers and an AI tool that reads emotions to convert texts into stickers. The teams are from Vietnam, Indonesia, South Korea and Ukraine. Mr Sangyeop KANG, investment officer at Hanwha Investment, said the diversity of the new startups means the foreign teams have been able to expand their businesses in Vietnam while offering global insight to the Vietnamese companies. VIISA has invested US$30,000 into each company and provided technical resources, office accommodation and access to more than 100 world class mentors and investors. Promising teams also get up to US$200,000 in follow-up funding. Two startups from batch 1 secured funding on the same day. Wisepass raised US$400,000 in seed funding led by Expara Ventures, followed by $100,000 from VIISA, while Wefit raised a round of US$150,000 from ESP Capital and VIISA. Mr Tran Huu Duc, CEO of VIISA, and Head of FPT Ventures, said that the second batch of startups has continued the momentum started by founding partners FPT, Dragon Capital and Hanwha, and batch three is highly anticipated. Batch three will start their mentorship in January 2018 and interested entrepreneurs can start applying now. VIISA will invest up to US$6 million into building global startups from Vietnam. It is a partnership of Dragon Capital, Hanoi-based telecommunications firm FPT and Hanwha Investment, together with commercial partners Asia Counsel, BIDV, Tam An Tax and CirCo Co-working Space. Viettel construction subsidiary to list on UpCOM Viettel Construction JSC, a subsidiary of Viettel Group, received permission to list 47.1 million shares on the Unlisted Public Company Market  (UpCOM), according to newswire Cafef. The first transaction day will be October 31, 2017, with the reference price of VND26,000 ($1.14). In April 2010, the company put 6.15 million shares on sale at its initial public offering (IPO) with the initial price of VND10,000 ($0.44) apiece. The entire share volume on offer was sold at the average price of VND14,484 ($0.65). The company started operations under the JSC model in June 2010 with the initial chartered capital of VND238 billion ($10.4 million), 72 per cent of which was owned by Viettel Group. After five years, the company’s chartered capital increased to VND471 billion ($20.6 million). As of September 7, 2017, Viettel held a 73.2 per cent stake in the company. Viettel Construction JSChas constructed the telecommunication infrastructure of Viettel Group with about 50,000 base transceiver stations (BTS) and about 140,000 kilometres of optical fiber in Vietnam, and Cambodia, Laos, Myanmar, Haiti, Peru, Mozambique, Cameroon, Burundi, and Tanzania, among others. In recent years, the company reported consecutive increases in its revenue. Notably, it earned VND1.53 trillion in revenue and VND110 billion ($4.8 million) in after-tax profit in 2015 and the figures hit VND1.68 trillion ($73.7 million) and nearly VND100 billion ($4.4 million) in after-tax profit in 2016. In the first half of this year alone, it earned VND1.27 trillion ($55.7 million) in revenue and VND48.2 billion ($2.1 million) in after-tax profit. As of late June, the company had total assets of VND1.96 trillion ($85.9 million) and VND634 billion ($28.2 million) of equity capital. Leading Vietnamese real estate developer offers 311.2 million at IPO Becamex IDC Corporation—one of Vietnam’s leading property developers—plans to put 311.2 million shares, equaling 23.6 per cent of its chartered capital, on sale at its initial public offering (IPO), which is expected to be organised on December 1. The Ho Chi Minh Stock Exchange has announced Becamex IDC’s plan to conduct its IPO. Accordingly, Becamex IDC will offer 311.2 million shares at the initial price of VND31,000 ($1.36) apiece. The company expects to acquire VND9.65 trillion ($423.1 million) from the deal. Along with the IPO, the company will also offer 329.25 million shares to strategic shareholders. Afterwards, the state-owned holding will decrease to 51 per cent stake. In recent time, the auctions of real estate developers’ share holdings have been luring in numerous investors, especially from overseas. Notably, two outstanding deals include Viglacera Corporation JSC and Vietnam Urban and Industrial Zone Development Investment Corporation (Idico). In late July, Viglacera conducted an auction of 30 million shares. 19 organisations and individuals joined the auction with the total registered shares numbering at 82.33 million, doubling the volume on offer. Foreign investors purchased 15.49 million shares, equaling 52 per cent of the offered shares. At Idico’s IPO, the corporation put 55.3 million shares on sale. The event attracted the participation of 582 domestic individuals, 25 domestic organisations, 40 international organisations, and nine foreign individuals, with the total registered share volume of 269.82 million, five times as much as the offered volume. Foreign investors succeeded in acquiring 41.35 million out of the 55.3 million offered shares, equaling 74.8 per cent. IDICO earned VND1.32 trillion ($57.98 million) from the IPO, selling 55.3 million shares at the average buying price of VND23,940 ($1.05) apiece. The lowest winning bid was VND23,200 ($1.02) and the highest VND28,600 ($1.26). According to the latest move, on October 31, Thanh Le General Import-Export Trading Corporation will conduct the public auction of 11.8 million shares, with the initial price of VND10,600 ($0.47) apiece. As of now, the registered shares are five times higher than the offered shares. Back to Becamex IDC, it is known as a leading name in the development of industrial, residential, urban, and transportation infrastructure in Vietnam. It currently has 28 subsidiaries and joint ventures in the areas of securities, finance, insurance, banking, construction, trading, real estate, services, telecommunication-information technology, concrete production, construction materials, mining, pharmaceuticals, healthcare, and education with a chartered capital of approximately  VND5.5 trillion ($242.1 million).   Vietcombank divestment from Saigonbank and CFC greenlighted The State Securities Commission of Vietnam (SSC) has licensed Vietcombank to sell its shares at Saigon Bank for Industry and Trade (Saigonbank) and Cement Finance Company (CFC) in order to comply with central bank regulations. The bank will auction 13.2 million shares (4.3 per cent stake) in Saigonbank at the initial price of VND12,550 ($0.55) and 6.6 million shares (10.91 per cent stake) in CFC at the initial price of VND11,549 ($0.51). The bank’s spokesperson announced that the auctions will be held in November. With these initial prices, the bank is forecast to collect VND165.66 billion ($7.29 million) from Saigonbank and VND76.22 billion ($3.35 million) from CFC. Up to December 31, 2016, these two investments amounted to VND123.45 billion ($5.43 million) and VND70.95 billion ($3.12 million).The divestment scheme was part of the bank’s proposals at the annual general shareholders' meeting (AGM) in April 2017. In the AGM, Nghiem Xuan Thanh, Vietcombank’s chairman of the board of directors, asserted that the low bidding price hindered the bank to carry out the disinvestment scheme at Saigonbank, CFC, and Oriental Commercial Joint Stock Bank (OCB). Thanh also added that the bank is still in possession of stakes in five other credit institutions, in three of which Vietcombank’s stakes exceed the stipulated holding amount of 5 per cent. Another issue brought up at the AGM was that a financial institution is not allowed to possess stakes in more than two credit institutions, which is the reason behind the divestment in Saigonbank and CFC. As a follow-up of the disinvestment in Saigonbank and CFC, Vietcombank handed over a proposal to divest from Eximbank. If successful, the proceeds from the divestment could reach VND700 billion ($30.814 million). According to the latest financial report of Saigonbank, the bank witnessed a remarkable growth in financial performance in recent years. In the first two quarters in 2017, the bank’s net profit reached VND128 billion ($5.63 million), and its chartered capital of VND3.080 trillion ($135.58 million). CFC has a total chartered capital of VND650 billion ($28.613 million), with Vietnam Cement Industrial Corporation (VICEM) being the largest stakeholder (39 per cent). In the first two quarters of 2017 the bank earned an accumulated net profit of VND5 billion. At the moment, Vietcombank holds 8.19 per cent of the stakes in Eximbank, 7.16 per cent in MBB, and 5.07 per cent in OCB. VNA/VNS/VOV/SGT/SGGP/TT/TN/Dantri/VNEVET