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BUSINESS IN
BRIEF 23/3
The
eastern region of HCMC comprising districts 2 and 9 and Thu Duc should become
the city’s innovative hub given the long-established intellectual and
technological facilities that have been thriving there, said Nguyen Thien
Nhan, secretary of the HCMC Party Committee.
Speaking at
a meeting between the HCMC government and enterprises here on Saturday, Nhan
said urban special planning should be adjusted to make the eastern part of
the city “an innovative city inside the city.” The three districts covering
over 22,000 hectares and having a population of one million are currently
home to two high-tech parks, over ten industrial and export processing zones,
and 12 universities.
Nhan said the municipal government would make changes to zoning plans so as to turn the three districts into an innovative city, which “serves as the nucleus for the city’s high-tech development.” District 9 is widely known for the Saigon Hi-Tech Park covering over 700 hectares, where investors have poured US$6 billion and employed 35,000 workers, while Thu Duc District has been aneducationalcenter with 12 universities. “These two districts serve as two poles of technology and intellectual, and when combined with District 2 as the administrative center, the region should become a highly-interactive innovative city,” Nhan said, adding this region should also become the springboard for innovative startups. To realize this orientation, the municipal Department of Zoning and Architecture will send a delegation to Districts 2 and 9 and Thu Duc District are strategically located at the eastern gateway to HCMC with fairly modern infrastructure facilities, which has helped spur real estate projects. Many key infrastructure works have either been completed or underway in the past few years, connecting the city with neighboring provinces. These include the HCMC-Long Thanh-Dau Giay Expressway, An Phu Interline, Rach Chiec 2 Bridge, Ring Road 2, and the first metro line linking Ben Thanh and Suoi Tien among others.
Industry growth predicted to hit over 6.8 percent in Q1
Industry is forecast to lead all sectors in terms of growth at 6.87 percent each in the first quarter of 2018, according to the National Centre for Socio-Economic Information and Forecast (NCIF). Dr. Dang Duc Anh, head of the centre’s Department of Analysis and Forecast, said the surge of 17 percent of the manufacturing and processing industry in the first two months of this year would drive the whole industry sector. According to the centre, which is run by the Ministry of Planning and Investment, economic growth of the country in the first quarter may reach 6.23 percent, up from 5.15 percent in the same period last year. The NCIF predicted the service sector will expand 6.74 percent in the first quarter, while inflation many reach 3.1 percent, higher than in the same period last year. Continuing from 2017, progress has been seen in all economic indications in the first quarter of 2018 thanks to busy manufacturing, construction, trade, wholesale and retail, banking and tourism sectors. GDP growth in 2018 is now predicted to hit 6.83 percent, higher than the centre’s forecast in December last year. The Government’s efforts in removing difficulties facing businesses are expected to help boost the industry and construction sectors. Meanwhile, agro-forestry-fishery is forecast to continue expanding as measures to develop sustainable agriculture are becoming effective. At the same time, economic experts said the three main factors boosting economic growth this year include drastic actions of the Government in improving the business environment, and stability in macro-economic policies. Additionally, major projects in the processing and manufacturing sector and the newly-signed Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are predicted to lift investment and trade, they added.- An Giang expands material tra fish farming area 
The
Mekong Delta
According to the province’s statistics office, as of mid-March 2018, prices of material tra fish remained high. The prices of young tra fish for breeding also rose due to increasing breeding demand and are at 60,000-70,000 VND per kg. An Giang’s farming area for tra fish harvested in the first three months of the year was estimated at 239ha, an increase of 3.6 percent year-on-year while output hit 73,000 tonnes, up 3.36 percent against the previous year’s correspondent period. The province’s farming area for tra fish currently totals 770ha, up nearly 3 percent compared to one year ago. The An Giang Tra Fish Association (AFA) aims to have 130 households breeding tra fish on a total 160ha, along with increasing the production of tra fish farms in Chau Phu and Phu Tan districts and Tan Chau township.
Hai Phong: Infrastructure all set but few firms ready for
e-business
The northern port city of Hai Phong ranked third in the 2017 e-Business Index (EBI), and though local infrastructure is all set for e-commerce, few companies are ready to trade online. According to Deputy Director of the e-Commerce Centre at the municipal Department of Industry and Trade Le Duc Truong, some 22,000 businesses have registered to operate in the city but only 320 have e-commerce websites registered with the Ministry of Industry and Trade. A recent survey in Hai Phong shows that 100 percent of local firms use email and search for information on the internet, however, only 4.4 percent of them are on electronic trading platforms and 14.8 percent have e-commerce websites, Truong said. While there is a growing trend of mobile shopping, up to 89 percent of the companies have yet to develop a mobile commerce website and 95.2 percent have yet to take part in mobile-based trading, he added. Though smartphones are the most popular tool to make online purchases in the city and more and more businesses accept card payments, most customers prefer cash. To fully tap local e-commerce potential, Truong advised firms to be more active in applying e-commerce and provide more solutions to help customers shop online, particularly in transportation and e-payment. He also suggested local authorities help the firms solve difficulties in this matter and play a greater role in promoting e-business. Hai Phong is a high potential market with more than 2.1 million people, not to mention those living in neighbouring provinces of Thai Binh, Quang Ninh and Hai Duong who come to the city. The city produced the most impressive growth in the overall e-business development as the city’s EBT jumped from fifth to third place last year, behind only The EBI was first published in 2012, aiming to evaluate the use of e-commerce and compare development among localities. The index is based on four criteria: information technology infrastructure and human resources, transactions between businesses and customers (B2C), transactions between businesses and businesses (B2B) and transactions between businesses and state agencies (G2B).
HCMC plans to build logistic centers
In
its project to develop logistics till 2025 with the vision to 2030 aiming to
shrinking cost, the Department of Industry and Trade in HCMC has planned to
build logistics centers in locations with huge consumption market, in
production districts or near ports with container terminals.
Vietnam
Logistics Association and the Department of Industry and Trade jointly
organized a seminar themed “Developing logistics service sector in
According
to the World Bank’s Logistics Performance Index in 2016, Vietnamese logistics
ranked the 64th out of 160 countries and the fourth in ASEAN after
For
instance, in 2016, Vietnam’s total logistics cost was $41.26 billion making
up 20.8 percent of gross domestic product (GDP) while these costs accounted
for between 9 percent and 14 percent of GDP in developed countries, yet the
sector contributed 2-3 percent into GDP.
Statistically,
logistics cost in
Though
it has many advantages for growing,
In
order to address the above-mentioned weaknesses, the logistics hubs should be
built.
SMEs to benefit from State support policies
The
Government recently issued Decree No. 39/2018/ND-CP which stipulates a number
of support policies for small and medium-sized enterprises (SMEs), concerning
information supply, consultation, human resource development, innovation, and
participation in industrial linkages and value chains.
Specifically,
SMEs will have open access to the information specified in clause 1, Article
14 of the Law on Support of SMEs on the national portal for support of SMEs,
which is managed by the Ministry of Planning and Investment, and on the websites
of ministries, ministry-level agencies, and provincial-level People’s
Committees.
In
an effort to help SMEs develop their human resources, the State budget will
subsidise at least 50% of the total cost of a training course on
entrepreneurship and business administration for SMEs. The trainees of SMEs
in extremely disadvantaged socio-economic localities and women-owned SMEs are
exempted from tuition fees for the training course.
The
provincial-level People’s Committees will assign relevant units to provide
free advice and instructions for household businesses registering to be
developed into enterprises.
The
SMEs transformed from household businesses will be exempted from the
first-time business registration fee at business registration offices if they
meet the necessary requirements. In addition, they will be allowed to
publicize their first-time business registration on the national business
registration portal.
The
SMEs converted from household businesses will be free from examination fees
and first-time licensing fees as for conditional business lines. They will
also be exempt from business license fees for three years from the date on
which they were first granted a business registration certificate.
The
State also has many policies to support innovative SMEs, concerning
intellectual property consultancy; exploitation and development of
intellectual property; the observance of procedures on technical standards,
measurement and quality; the pilot run and finalisation of new products and
business models; the application and transfer of technologies; and trade
promotion, among others.
Tien Giang moves to manage quality of star apple exports
The
Mekong Delta
Local
authorities have detailed farming techniques and instructed farmers to manage
agricultural product quality, he noted, elaborating that farmers have received
training in disease prevention and the use of plant protection substances.
They were warned not to use substances that the
Tien
Giang has provided codes for new farming areas while expanding the areas
which already had codes. It has also requested star apple exporters to
coordinate with specialised agencies to receive timely technical support.
Man
said the province is pushing star apple cultivation towards VietGAP
(Vietnamese Good Agricultural Practice) standards to ensure food safety and
origin traceability.
The
agriculture department also asked the Plant Protection Department under the
Ministry of Agriculture and Rural Development to continue reviewing the
granting codes for star apple exporters and strictly examine the origin,
package and quality of export batches so as not to affect the prestige of
Vietnamese star apples.
The
Plant Protection Department has also been asked to update localities with
plant quarantine information to deal with violations in a timely manner, the
official said.
He
added his province is making efforts to form long-term cultivation areas to
ensure stable production and supply of quality star apples. Notably, it is
implementing a pilot project on recovering Lo Ren star apple trees, a Tien
Giang variety.
It
is also re-organising the production and consumption chain, improving star
apple cooperatives, and stepping up trade promotion to boost exports to the
In
the Mekong Delta, Tien Giang is one of the provinces with the biggest star
apple farming areas. In late December 2017, the agriculture ministry and the
provincial People’s Committee announced that the first batch of Vietnamese
star apples had been shipped to the
Since
the announcement, Tien Giang has exported 73 tonnes of star apples to the
Methodical approach to exporting aquatic products to US
suggested
Commercial
Counsellor and head of the Vietnam Trade Office in the US Bui Huy Son has
said Vietnamese firms should take a methodical approach to exporting aquatic
products to the
He
made the statement during an interview with Vietnam News Agency following the
US Department of Commerce’s 13th administrative review on countervailing
duties on frozen tra fillets imported from Vietnam from August 1, 2015 – July
31, 2016 ended with record high taxation, triple that of the 12th
review.
Son
said the Ministry of Industry and Trade has clearly expressed its stance on
the taxation in its announcement, that it is unfair and reflects
inappropriate protectionism.
The
Vietnam Association of Seafood Exporters and Processors also issued an
announcement affirming that the DOC’s calculation method is improper and
biased and asked the DOC to reconsider the tax on frozen tra fillets imported
from
Asked
about what
According
to him, the
Therefore,
the State, local agencies and associations need to store and digitalise such
information to make it readily available when necessary, he said.
Together
with efforts of aquatic exporters, relevant associations, the ministries of
Industry and Trade, and Agriculture and Rural Development, the media also
plays a significant role in raising public awareness of fishing and aquatic
processing which ensures safety and meet importers’ requirements, Son added.
Petrolimex Aviation recognised as Vietnamese top brand
The
Petrolimex Aviation Fuel JSC has been named among top Vietnamese brands as
part of an award held by the Ministry of Industry and Trade in response to
the “Vietnamese people prioritise Vietnamese goods” campaign.
According
to the award organising board, the company is a pioneer in trading Jet A-1
fuel from the Dung Quat oil refinery domestically and internationally, with a
total volume of hundreds of thousands cubic metres annually.
Domestic
clients, like VietJet Air, the Hai Au Aviation, and Northern Vietnam
Helicopter Company, make up a large proportion in the business’ customer
structure.
A
representative of Petrolimex Aviation Fuel JSC said the corporation
prioritises the sale of Jet A-1 fuel, particularly when the Nghi Son oil
refinery is put into operation.
Launched
in 2009 nationwide, the “Vietnamese people prioritise Vietnamese goods”
campaign has changed customers’ attitude toward locally made products while
enhancing the competitiveness of domestic enterprises.
Binh Duong prepares for WTA events
Leaders
of the southern
Binh
Duong will host the 11th meeting of the WTA General Assembly, the High
Technology Fair, and the 2018 Global Innovation Forum in this October.
At
the meeting, Chairman of the provincial People’s Committee Mai Hung Dung
proposed that the two sides work on a detail plans and choose the theme for
each event, along with communications contents and the plan for construction
of venue for the High Technology Fair.
Yoslan
Nur, a UNESCO expert who led the delegation, said that the UNESCO and the WTA
have cooperated from 2005 in all fields, including supporting countries in
organising training courses for officials and providing technology in
building high technology parks. From 2014, the Global Innovation Forum was
launched, he added.
Yoslan
Nur showed his delight at the development of Binh Duong, expressing his
belief that the province will successfully host the events, opening more
opportunities for bilateral affiliation in the future.
Earlier,
Binh Duong and the WTA signed a memorandum of understanding for hosting WTA
events.
Binh
Duong is an industrial hub of the southern region and the country as a whole.
Last year the province grew at 9.15 percent, its highest ever rate. Exports
grew by 17.6 percent to 28.5 billion USD.
In
the first two months of this year, domestic and foreign investments have been
worth 10.3 trillion VND (450 million USD) and 435 million USD, respectively.
The
province now has 31,548 domestic enterprises with registered capital of 247.5
trillion VND (11 billion USD) and 3,075 foreign projects worth 29 billion
USD.
It
is ranked second in terms of FDI attraction behind only
The
cars were made in
The
faulty can be fixed in about two hours per car free of charge at
The
upgraded Corolla Altis 2017 was introduced in August last year and became
available for purchase at the end of September. It has five models, sold at
prices ranging between 702 to 936 million VND (30,958 – 41,277 USD).
ProPak Vietnam, Plastics & Rubber exhibition open
The
International Processing and Packaging Exhibition and Conference (ProPak
Vietnam) and the International Plastics and Rubber Technologies and Material
Exhibition (Plastics & Rubber Vietnam) opened in Ho Chi Minh City on
March 20.
According
to BT Tee, Director of the UBM BES Vietnam, the organizer of the events, the
ProPak Vietnam 2018 draws 420 companies from 29 countries and territories
such as
Meanwhile,
about 160 enterprises from 20 countries and territories are participating in
the Plastics &Rubber Vietnam 2018.
The
annual events, which will last until March 22, aims to introduce products and
materials, machines, equipment and technologies in plastics and rubber
sectors as well as processing and packaging.
Alongside,
they give a chance for businesses to meet and seek partners, promoting
cooperation and import-export activities, contributing to boosting the growth
of the industries in
Paolo
Lemma, Italian Trade Counsellor in
The
manufacturing of packaging machines is one of the most dynamic industries of
The
plastics and rubber sectors of
In
the January-November period of 2017,
Cultivation law promotes farm produce’s competitiveness
Cultivation
law should be issued to facilitate plantation and improve values and
competitiveness of agricultural products to meet domestic and export demand.
Phan
Xuan Dung, Chairman of the National Assembly’s Committee on Science,
Technology and Environment, made the statement at a conference that was held
in
Dung
said that once the law takes effect, comprehensive management will be applied
for cultivation activities in value chains.
Regarding
the draft law on cultivation, Nguyen Hong Son, Head of the Crop Production
Department under the Ministry of Agriculture and Rural Development, said that
as compared to the Ordinance on Plant Varieties, the draft has some new
points, including the recognition of local aged old varieties in production
and private sector involvement in the testing of plant varieties.
The
draft law also regulates the focused production zones and management of
plantation zones to encourage the production value chain. Contracts to
connect farmers with enterprises are also stipulated in the draft law.
At
the event, representatives from the Southeast Asia Regional Initiatives for
Community Empowerment (SEARICE), the Food and Agriculture Organisation (FAO)
and Oxfam talked about challenges and trend of the global agricultural
production as well as the role of the farmers in varieties management and
food security.
The
conference will close on March 21.
Kien Giang moves to support local fishermen
Implementing
the Government’s Decree No 67/2014/ND-CP on offshore fishing development, the
Mekong Delta
Of
the sum, 410 billion VND were sourced from credit loans to support local
fishermen. To date, 38 ships were put into operation.
The
decree, which came into effect in August 2014, stipulates policies on
investment, credit, insurance and tax incentives to support fishermen and
ship owners who wish to build new fishing boats, upgrade existing boats and
buy fishing and marine equipment, among others.
The
provincial fishery sector has worked with relevant authorities and other
coastal provinces to raise awareness among fishermen, putting an end to
illegal fishing in foreign waters.
The
"yellow card" is followed by a "green card" if issues are
resolved or a "red card" if they are not. A “red card” can lead to
a trade ban on fishery products.
On
December 13, 2017, Prime Minister Nguyen Xuan Phuc issued Directive 45/CT-TTg
on some urgent tasks and solutions following the EC’s warning.
To
carry out the directive effectively, the province has intensified inspections
over fishing activities, and taken strict punishment against violations of
regulations on fishing and ship registrations and management.
In
addition, Kien Giang has launched a project to improve the quality of product
values, reducing losses as well as apply advanced technology to preserve
products after harvest. It is also devising a project to inspect and
re-arrange local fishing activities in Kien Giang’s waters.
The
province boasts a fishing ground of more than 63,000 sq.km. Since the start
of 2018, Kien Giang’s seafood output exceeded 90,000 tonnes, equivalent to 16
percent of the year’s plan and up 4.6 percent year-on-year. In 2017, the
figure was above 548,000 tonnes, accounting for 20 percent of the country’s
output.
Can Tho conference to promote investment in logistics,
tourism, IT
The
Mekong Delta city of
The
information was released by Truong Quang Hoai
The
conference will be chaired by the Prime Minister, the Minister of Planning
and Investment, the Secretary of the municipal Party Committee, and the
Chairman of the municipal People’s Committee. It is expected to welcome 500
delegates, including 100 foreigners.
A
ceremony will be held in the framework of the conference to present
investment scheme and investment license certificates to the Vinmex Can Tho
General Hospital project, the 6,000 hectare organic dairy farm project.
In
2017, trade promotion activities helped the city lure investment and increase
export revenue.
Some
77 foreign direct investment projects worth 656 million USD landed in the
city in the year.
The
city earned nearly 1.8 billion USD from export and service revenue, 5.9
percent above its goal and 13.9 percent higher than the figure in 2016.
The
State Audit of Vietnam (SAV) wishes to receive the positive contribution from
the State Audit of Malaysia in order to successfully organize the 14th Assembly
of the Asian Organisation of Supreme Audit Institutions (ASOSAI).
The
statement was made by the State Auditor General of
At
the meeting, both sides discussed the detailed programs of the event such as
issues related to the Governing Board Meeting, the draft Hanoi Declaration,
election and vote counting.
State
Auditor General of Vietnam Ho Duc Phoc highly appreciated the support and
experience sharing of
Mr
Phoc voiced his continued support for boosting bilateral ties at bilateral
and multilateral forums, especially ASOSAI as well as continuously facilitating
cooperative activities with the State Audit of Malaysia.
He
also expressed his desire to continue receiving the positive contribution
from the State Audit of Malaysia so as to successfully host the 14th ASOSAI
Assembly and well perform its role as ASOSAI Chair for the 2018-2021 tenure.
Positive outlook for
Office
rents in
The
real estate markets in both
While
more office building projects completed last year in HCM City, Hanoi still
suffers a severe lack of offices which led to a first significant price hike
in a decade. However, according to CBRE, the office rents in
There
are not many new office building projects in
CBRE
forecast that the annual rents for grade A buildings in
New
projects have been announced near the city's centre, an area has been
neglected before, in order to meet demand for the next three years. Despite
current high monthly rents of USD38 per square metre for grade A and USD21
for grade B buildings, prices will continue to increase by 2% each year.
Prices
for grade B buildings will see a larger increase due to lower supply.
FPT Software now GE Digital authorised reseller
FPT
Software announced that the company has signed a resale agreement with GE
Digital to commercialise its software solutions on Tuesday.
According
to the agreement, GE Digital has officially named FPT Software an authorised
reseller of GE Digital’s products and services in
The
two companies will collaborate to deploy from pre-sales to sales and
marketing activities, delivering technical support to customers initially in
In
addition to the reseller agreement,
As
a part of the Academic Alliance,
“GE
Digital is pleased to provide the tools to help Vietnamese industries
transform their businesses and lead the digital industrial era through our
Predix portfolio. FPT Software’s expertise in cloud computing, mobility, BI
and analytics, coupled with GE Digital’s deep domain expertise and global
scale make this partnership an exciting landmark for the Industrial IoT in
“Our
partnership with GE Digital, a global market leader in Industrial Internet is
a testament to FPT’s commitment to help Vietnamese and global businesses
drive digital transformations. Accordingly, expanding our partnership opens
doors to inspiring digital innovations and limitless global job opportunities
for local young talents,” said Truong Gia Binh, FPT’s Chairman.
Bosch products to be displayed at Demo ProSound Vietnam
Bosch
Security has announced that its certified partner, Truong Thinh Equipment
Sound-Light Company, Ltd, will demonstrate the powerful sound output of
electro-voice’s X-Line advance X2 line array system and its excellent
portable loudspeaker range consisting of the new ELX200, EVOLVE50 and EVID S
at the Quan Khu 7 Stadium this weekend.
With
more than 10,000 registrants, Demo ProSound Vietnam continues to be the
biggest platform for music enthusiasts and professionals working in the sound
and entertainment industry to meet, experience the latest technologies,
promote cutting-edge products, and generally enjoy two days of unforgettable
performances.
Terence
Ng, general manager (
“Rather
than just talking about ourselves, we want to create an ‘experience’ and let
participants enjoy what Electro-Voice has to offer through diverse musical
performances and let them evaluate us themselves.”
The
latest loudspeaker system from Electro-Voice combines innovative new
technologies and time-saving features that work together to exceed the
increasing expectations of audiences, performers and production professionals
all over the world.
For
the event, Truong Thinh will install a twin 12-box line array of
Electro-Voice X2/212-90 mains (24 units) and 16 X12-128 subwoofers.
Backed
by 16 TG7 amplifiers equipped with RCM-28 remote control module and a NetMax
N8000 system controller, the system is capable of producing powerful sound
output to fully cover the event venue.
Besides,
the latest members of the portable loudspeakers category will be introduced
at the event. The EVID-S series incorporates low-profile looks with robust,
set-it-and-forget-it reliability with no compromises, which are ideal for
both indoor and outdoor applications.
With
a potent blend of performance and portability, ELX200 series offers real
professional audio quality, precision control and EV-engineered components in
an ultra-lightweight package.
Lastly,
the EVOLVE 50-powered column loudspeaker offers sleek design, ease of
transportation and setup and superior sound output with wide yet even
coverage.
Pham
Ngoc Truong, director of BSCP Truong Thinh Equipment Sound-Light Company
Limited, said: "Electro-Voice has been a pioneer in the line array
market, and we are proud to be the first provider of the X-Line Advance X2
line arrays in
“This
year we aim to meet the increasing expectation of audiences, performers, and
fellow participants for our X-Line Advance systems.
“Moreover,
we will introduce the newest offerings from Electro-Voice that combines
modern design and quality with wide applications for the Vietnamese market.”
Begun
in 2017, Demo ProSound has quickly become the biggest platform for top
providers of professional sound systems in
With
the participation of 12 national and international brands, the two-day event
on March 22 and 23 will be packed with fantastic music performances, product
introductions and experience programmes.
VPBank to lift charter capital
Viet
Nam Prosperity Joint Stock Commercial Bank (VPBank) plans to increase its
current charter capital from VND15.7 trillion (US$690 million) to VND27.8
trillion in 2018, the bank announced at its shareholders’ meeting held on
Monday in Ha Noi.
The
plan for raising charter capital includes the following mechanisms: issuance
of shares for dividend payments instead of cash, issuance of shares using
reserves to supplement charter capital, issuance of shares to VPBank staff
under the Employee Stock Ownership Plan (ESOP) programme, private shares
placement for local and foreign investors and the distribution of surplus
capital.
The
bank plans to make dividend payments in the form of common shares by
utilising retained profits after allocating profit in 2017 and issuing common
shares to raise capital from owner’s equity.
In
the second quarter of 2018, VPBank also plans to issue shares worth nearly
VND337 billion—equivalent to about 1.7 per cent of the bank’s charter capital
at the time of issuance—to its staff under the ESOP programme.
In
third quarter of 2018, the bank will buy over 73 million dividend preferred
shares, with capital sourced from the firm’s capital surplus (VND1.3
trillion) and development investment fund (VND1.2 trillion).
VPBank
will conduct private placement for local and foreign investors to raise
charter capital. The maximum offer is about 15 per cent of total common
shares at the time of issuance.
The
last mechanism to raise charter capital will be implemented in the fourth
quarter by distributing bonus shares from capital surplus gains after the
2017 private placement. The total surplus distributed to common shareholders
is expected to be more than VND4.6 trillion. After surplus distribution, the
charter capital will be raised to VND27.8 trillion.
With
the tentative VND12 trillion capital surplus as results of the abovementioned
actions, VPBank plans to use VND8.500 billion to raise mid- to long-term
capital to serve credit growth.
At
this meeting, VPBank’s shareholders also approved the bank’s business plan
for 2018. Main targets include reaching total assets of VND359.4 trillion,
customer deposits and valuable papers of VND241.7 trillion, a non-performing
loan ratio below 3 per cent and profits before tax reaching VND10.8 trillion.
According
VPBank, 2017 is the final year of the bank’s five-year transition period from
2012-2017.
By
the end of fiscal year 2017, VPBank was named one of
As
of December 31, 2017, the bank’s total assets reached VND278 trillion,
outstanding loans reached VND196.7 trillion and capital mobilisation reached
VND199.7 billion.
VPBank’s
total operating income in 2017 reached VND25 trillion, up 48 per cent from
2016, recording the highest level ever achieved by the bank, helping to bring
the bank’s compound annual growth rate (CAGR) to 51 per cent.
Before-tax
profit in 2017 reached VND8.1 trillion, the highest level ever, up 65 per
cent year-on-year and meeting 120 per cent of the yearly target.
The
non-performing loan ratio was controlled at less than 3 per cent as regulated
by the State Bank of
Also
in 2017, the bank’s charter capital has increased from VND9.2 trillion to
VND15.7 trillion.
An
important milestone of VPBank in 2017 was the listing of more than 1.3
billion shares on the Ho Chi Minh Stock Exchange (HOSE) with the reference
price of VND39,000 per share.
As
of March 16, 2018, VPBank’s share price was VND64,300 per share and market
capitalisation reached VND96.3 trillion, ranking fourth among the listed
banks.
The
bank said it would continue to maintain its retail banking strategy in 2018,
specially focusing on digitalisation of financial products and services to
better meet customers’ demand and create new growth momentum.
It
will also enhance association with financial technology companies and
strategic partners to create a diversified financial ecosystem, which could
provide better products to all market segments.
Land lot prices spike in HCM City
A
spike in price for land lots in
A
representative of a real estate exchange company in District 9 said the price
of land lots had been rising steadily by 10 to 15 per cent since Tet (Lunar
New Year), while some plots in the outskirts of
Offered
lots are usually bought very quickly.
One
woman said that a 56-sq metre wide piece of land lot that she bought in the
morning and put up for sale was immediately bought by someone else in the
afternoon, netting her VND700 million (US$30,730).
In
another case, one man said that he wanted to buy a land lot in Thu Duc
District’s
Lots
in the western part of the city such as Binh Tan and Binh Chanh districts are
also seeing massive increases in prices. Some have nearly doubled in value.
A
man in Binh Tan District said: “I just bought a 120 sq metre wide land lot on
According
to Tran Thi Cam Tu, general director of Eximrs Real Estate Company, people
who profited from stock investment since the end of last year are now
investing in land instead.
A
financial expert said that people were investing in land instead of putting
savings in banks due to the low interest rates now offered by banks.
"Investing in land lots is more profitable and affordable compared to property,"
he said.
"There
is only a limited amount of empty land, but demand is always rising, so
prices will increase accordingly," he added.
Tran
Khanh Quang, general director of Viet An Hoa Real Estate Company, said that
land lots in the eastern part of the city were rising in value, while the
price of land in the southern part remained relatively unchanged.
This
was due to the eastern area’s development of infrastructure, which had
increased the value of the land.
Despite
the price spike and expected profits, customers are urged to be cautious and
avoid paying more than what a lot is actually worth.
VNN
|
Thứ Sáu, 23 tháng 3, 2018
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