Finance Vietnam News

finance & business news 14 March 2018

FINANCE ...... 1 Some pursue, some abandon billion dollar projects 28 Reference exchange rate adjusted further down 1 Another domestic giant joins retail segment 29 US dollar losing charm as investment haven in Vietnam 2 Vietnam & New Zealand trade to reach $1.7- 2bn by 2020 31 Foreign currency supply remains plentiful 3 70 HK businesses seeking trade ties in Vietnam 32 Banks stock drive VN Index over peak 4 BIZ NEWS ...... 33 Bad debts yet to decline 4 Business Briefs 14 March, 2018 33 Foreign banks assure continued presence in Vietnam 6 March 13: Main indexes gain ground 33 Foreign banks' withdrawal no cause for concern: experts 6 Foreign investors confident in Vietnamese stock market Non-life insurers set cautious targets in 2018 8 outlook 34 Jardines Matheson to play part in restructuring weak banks? 9 Thai firms continue pushing for bigger Vietnam market share 35 Japan bank considers funding PetrolVietnam's gas project 9 US news website names Hanoi among 13 best places CPTPP a progressive trade direction in 21st century 10 to visit in March 36 Vietnam prime minister says first-quarter growth of 7.41 Outstanding enterprises in made-in-VN products campaign pct likely: website 11 to be named 36 DOC receives petitions for anti dumping investigation on Vietnam spends big on abattoir training to secure Aussie plastic bags 11 cow imports 36 Turkey's anti-dumping investigation into Vietnam's core More Chinese travellers visiting Vietnam via chartered flights 37 weldining wire 11 Peruvian grapes arrive in Vietnam 38 VN's laminated woven sacks might face anti-dumping Saigon Petro proposes cutting bio-fuel tax 39 investigation 12 Vinachem's loss-making projects grapple with huge interest Cement consumption on the rise 12 payments 39 Qualified t people soughfor State capital management committee 13 Ministry asks Formosa to clarify investment increase 40 SOEs failed to disclose business information to be punished 13 UK's group encouraged to participate in SOEs' restructuring 41 $66b invested in Greater Mekong Sub-region: ADB official 13 Korean groups planning Thua Thien-Hue tourism complex 41 Can Tho enhances collective economy 14 Lazada to be inspected over customer complaints 41 Property market expected to be stable in 2018 15 MobiFone, AVG cancel acquisition agreement 43 Billions of dollars ready for disbursement in property market 16 Tuan Chau Group to invest in Vung Tau mega project 44 Vietnam's green dream within reach 17 Silk Path Hotels Resorts opens French chateau-inspired Property sales in Industry 4.0 era 19 resort in Sa Pa 44 Office leasing market promises undetained impetus on all fronts 21 ILDC wants to develop $6 billion deep seaport complex in CP TPP to bring both opportunities, challenges to breeding sector 22 Soc Trang 45 CPTPP impacts on small and medium enterprises 23 Spotify challenges Apple Music in Vietnam's streaming market 46 Garment-textile sector eyes 10pct growth in 2018 24 Exerting influence 46 Snacks market in VN worth $500 million 24 Jail terms declared in Da River water pipelines ruptures 48 Supporting industries urged to improve competitiveness 25 Binh Duong to host World Technopolis Association 2018 events 50 Electronics industry needs development: seminar 26 E-commerce eager for Amazon debut 27 FINANCE FINANCE Reference exchange 14/MAR/2018 INTELLASIA| VNA rate adjusted further The daily reference exchange rate was adjusted down for the second consecutive day on down March 14, standing at 22,440 VND/USD, 10 VND less than the rate set on March 13. With the current trading band of +/- 3 percent, the ceiling rate applied to commercial banks during the day is 23,113 VND/USD and the floor rate 21,769 VND/USD. The opening hour rates at major commercial banks went up slightly. Vietcombank is listing the buying rate at 22,725 VND/USD and the selling rate at 22,795 VND/USD, both up 5 VND from the previous day. Similarly, the rates at BIDV also went up 5 VND to 22,730 VND/USD (buying) and 22,800 VND/USD (selling). Vietinbank is buying the greenback at 22,729 VND/USD and selling at 22,799 VND/USD, Intellasia both up 1 VND from the rates on March 13 Tel: +844 2213 2244 No. 21, lane 173/63/17, Ngoc Ha Ward,https://en.vietnamplus.vn/ref Ba Dinh Dist, Hanoi erence-exchange-rate-adjusted-further-down/127824.vnpFax: +844 3759 2034 © All Rights Reserved Email: [email protected] Websites: www.Intellasia.Net www.TriTueAChau.com Vietnam finance & business 14 March 2018

US dollar losing 14/MAR/2018 INTELLASIA| TUOITRE NEWS charm as investment The State Bank of Vietnam takes credit for its resolute effort to keep the foreign ex- haven in Vietnam change rate stable Short-term trading in US dollars has increasingly become less lucrative in Vietnam as the VND-USD exchange rate has been kept stable by the State Bank of Vietnam, which also maintains a zero interest rate for savings in the greenback. Many Vietnamese would stockpile US dollars for savings instead of the local currency, hoping to rake in profits, albeit insignificant, from short-term price fluctuations. However, this method has become less remunerative in the last few years, when the State Bank of Vietnam, the country's central bank, began to boost its effort to de-dol- larise the economy through different administrative measures. "Dollar prices at local banks only rose 1.1 percent to VND22,790 from VND22,540 over the last year, meaning it is not really profitable to hold this currency as an investment," Loan, a HCM City resident, told Tuoi Tre (Youth) newspaper.

FINANCE Loan and her husband have some VND400 million ($17,640) to spare after the Lunar New Year that ended last month, and were told to invest in foreign currency as the sum was not enough to be channeled into real-estate. However, Loan said she has carefully studied the forex market and decided that "it would be better if we put the money in [VND] savings or stocks." Like Loan, many Vietnamese have changed their mindset, after realising that they could no longer reap easy money from trading the greenback short-term. Huong, another HCM City resident, used to be a short-term trader of the dollar, one who stockpiled the foreign currency only to immediately sell it once its price increased. "I was able to make a few million dong every several days then but this has no longer been the case in recent years," she said. The VND-USD exchange rate is expected to remain stable even when the US Federal Reserve is projected to hike its benchmark interest rate three times this year. "Last year, there were three FED interest rate increases but the foreign exchange rate remained almost unchanged, so I don't think the situation will be different this year," Loan said. Forex rate to remain stable in 2018 From a regulatory viewpoint, Truong Van Phuoc, acting chair of the National Commit- tee for Financial Supervision, explained that all the FED interest rate increases were carefully planned and announced beforehand, so any impact they may leave on the international financial market is quite predictable. Theoretically speaking, a higher interest rate would drive global investment back into the US, thus strengthening the dollar. "However, the reality is that some $30 billion worth of investment has since been poured into emerging markets, including Vietnam, and the dollar was actually weak- ened by an average of nine percent compared to other strong currencies," Phuoc told Tuoi Tre. The policies meant to protect the US against a trade deficit under the administration of President Donald Trump could explain this unexpected development, Phuoc added. The official went on to underline that any changes to the FED interest rates in 2018 will also have insignificant effects on the foreign exchange and foreign currency market in Vietnam. The dollar is expected to lose five percent of its strength following the FED rate hikes this year, compared to the nine percent depreciation in 2017, which "only lends cre- dence to predictions that it will leave diminutive impacts on Vietnam." The positive outlook is also backed by such factors as Vietnam's record $60 billion in foreign reserves, and a $1.1 billion trade surplus in the first two months of this year, according to the official. "These all lay solid ground for [the central bank] to stabilise the foreign exchange rate," he concluded. Since 2015, the central bank has set a zero percent interest rate for savings in US dollars

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for both individual and corporate clients in order to support its anti-dollarisation effort. As people are no longer able to take profit from US dollar savings, the central bank has been able to keep the foreign exchange rate stable and managed to buy across a large number of foreign currencies to elevate its foreign reserves. Dao Minh Tu, a deputy governor of the central bank, said in December that it was "not the right time" to scrap this policy. https://tuoitrenews.vn/news/business/20180313/us-dollar-losing-charm-as-investment-haven-in-vietnam/44501.html

Foreign currency 14/MAR/2018 INTELLASIA| BIZLIVE supply remains According to Saigon Securities Incorporation (SSI)'s Vietnam's monetary and financial plentiful report in February 2018, the monetary market in the first two months had many macro factors that were maintained in good condition.

FINANCE In this period, foreign investment in the form of capital contribution and share purchase increased 102.5 percent year-on-year to $1.25 billion. Most notably, the sale of Sabeco shares at the end of 2017 helped the state budget gain 110 trillion dong, equal to $4.8 billion, creating an unexpected foreign currency supply for the market. The FDI disbursed in the first two months of this year swelled 9.7 percent year-on-year to $1.7 billion. The trade balance ran a surplus of $1.08 billion in the first two months of 2017, following seven consecutive months of trade surplus since July 2017. The abundant supply of foreign currency and stable exchange rate continued to facil- itate the State Bank's foreign currency purchase, increasing the foreign currency reserves to nearly $60 billion only in the first two months of 2018, compared to more than $50 billion at the end of last year. Along with the foreign currency purchase, the State Bank injected a large amount of dong. So, despite the peak of payment in the first two months of the year, the banking system still maintained abundant liquidity status. This is shown on the Open market operation (OMO) where the State Bank only lends more than 20 trillion dong, plummeting from the common amount of more than 100 trillion dong in the previous years. After the Lunar New Year 2018, as the liquidity of banking system was abundant, the State Bank issued T-bills to withdraw 80 trillion dong. Thanks to abundant liquidity, banks have strengthened their investment in government bonds, causing the demand for bonds to swell, and the bid value is four times higher than the offer value. The winning ratio reached 93 percent, equal to the fact that more than 29 trillion dong bonds were issued, up 10.4 percent year-on-year. The fact that bid winning interest rates fell sharply after Tet caused interest rates to go down about 1.4 percent from the end of 2017, equal to 3.05 percent (5-year term), 3.4 percent (7-year term) and four percent (10-year term). In 2018, the State Treasury planned to issue 200 trillion dong government bonds, up 25 percent from the total actual issuance value in 2017 at 159.9 trillion dong. SSI noted that the value of bonds matured in 2018 significantly decreased compared to 2017 and the budget revenue from State-owned enterprises (SOE)'s equitisation increased. According to SSI, till the end of February 2018, most of signals in the monetary market are still positive. The rapid increase of inflation in the first two months of the year has not had any significant impact as inflation expectations in the following months will be low or decrease. Foreign capital flowing through various channels have generated positive momentum for the economy, supporting exchange rate and system liquidity, generating large pushes for the stock market.

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However, a noticeable risk is that the reversing foreign capital flow may generate ad- verse impacts, following new developments in the US concerning the trade war and the possibility that the US is likely to raise interest rates faster.

Banks stock drive VN 14/MAR/2018 INTELLASIA| VNS Index over peak A huge cash flow into banking and securities shares in the final minutes of Tuesday's session on the local stock exchanges drove shares up, with the VN Index finally exceeding the short-term peak of 1,130 points. The benchmark VN Index on the HCM Stock Exchange advanced 0.62 per cent to close at 1.133,31 points, totalling a two-day rise of 0.88 per cent. According to BIDV Securities JSC (BSC), the VN Index surpassed the peak with the dy- namics from the smart cash flow. "Positive market sentiment will likely pull the index up in the next session. However, the risk still exists when the division tends to spread and liquidity has not really broke

FINANCE through," BSC said. The minor HNX Index moved up 0.47 per cent to end at 129.66 points. The northern market index advanced 1.16 per cent to end at 129.06 points on Monday. More than 289.09 million shares were traded on the two local bourses, worth VND7.9 trillion (US$348 million). On the two stock markets, the market breadth was negative with 268 declining stocks against 214 gaining ones, while 249 other shares ended flat. The UPCOM Index on the Unlisted Public Company Market (UPCoM) fell 0.09 per cent to 61.31 points, totalling a two-day lost of 0.19 per cent. Foreign investors today were net buyers of VND184.18 billion on HOSE, focusing on VRE (VND213.64 billion), VIC (VND57.45 billion) and VNM (VND28 billion). In addition, they net sold VND4.95 billion on the HNX. The banking and securities sectors indices jumped 1.65 per cent and 1.67 per cent, respectively, data on vietstock.vn showed. Vietnam Joint Stock Commercial Bank for Industry and Trade (CTG) is the most noticeable among banking shares that contributed to Tuesday's gain, up 6.7 per cent, followed by Vietnam Prosperity Joint Stock Commercial Bank (VPB) and Military Commercial Joint Stock Bank (MBB), up 2 and 2.7 per cent, respectively. Blue-chips in the brokerage sector also rallied, including Sai Gon Securities Incorpora- tion (SSI), gaining 2.86 per cent, HCM City Securities Corporation (HCM), rising 5.46 per cent and VNDirect Securities Corporation (VND), up 1.8 per cent. According to Bao Viet Securities Company (BVSC), market sentiment is forecast to stay cautious in the next sessions as investors are waiting for the review of the two ETFs this weekend. The market is likely to continue its sideways movement amid wide divergence. Meanwhile, according to Viet Dragon Securities Co (VDSC), the VN Index continued to fluctuate strongly within the session, which might be interesting for risk-seeking investors. As for risk-averse ones, we recommend to monitor market moves and wait for clearer opportunities. http://bizhub.vn/markets/banks-stock-drive-vn-index-over-peak_293144.html

Bad debts yet to 14/MAR/2018 INTELLASIA| BAO DAU TU decline A bright spot in the banking picture in 2017 was the improvement of asset quality of the credit institution (CI) system. according to estimates of the National Financial Su- pervisory Commission (NFSC), the bad debt ratio of the system by the end of 2017 was about 9.5 percent, significantly lower compared to the 11.9 percent recorded in late 2016, mainly thanks to the reduction of the restructured potential debts, corporate bonds, and external receivables. Figures from the 2017 financial statements of 13 surveyed banks showed that the total bad debts reached 60.533 trillion dong, slightly up by 0.7 percent compared to the beginning of the year. In absolute number, eight out of 13 banks recorded bad debt rise in the 2017. Nevertheless, thanks to the acceleration of credit growth, only five out of

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13 banks saw increase in the ratio of bad debts on total outstanding debts, including Commercial Joint Stock Bank for Industry and Trade of Vietnam (VietinBank), Saigon Hanoi Commercial Joint Stock Bank (SHB), Vietnam Prosperity Commercial Joint Stock Bank (VPBank), Vietnam Technological and Commercial Joint Stock Bank (Tech- combank), and Tien Phong Commercial Joint Stock Bank (TPBank). Another good sign is that the total group 5 debts (irrecoverable debts) by the end of 2017 fell by 8.3 percent compared to the beginning of the year. Specifically, Asia Commercial Joint Stock Bank (ACB) had the lowest bad debt ratio in the surveyed group, reaching only 0.7 percent compared to 0.87 percent recorded in the beginning of the year. The bank's irrecoverable debts also dropped from 0.64 percent to 0.4 percent. Meanwhile, although the bad debt ratio remains at high level, Sa- combank has made significant progress in settling bad debts. Accordingly, as of late 2017, the bank's bad debt ratio declined to 4.16 percent from 6.91 percent in the beginning of the year. The strong bad debt decline of many banks in 2017 was thanks to CIs' acceleration of FINANCE bad debts after the issuance of Resolution 42/2017-NQ14, particularly in the last months of the year. CIs limited the sale of bad debts to Vietnam Asset Management Company, while other bad debt settlement forms such as sale of bad debts, sale of secured assets, especially the use of provisions for risks were also promoted. Hence, provisioning for risks is the pressure for many banks. ACB set aside 49.1 percent of the bank's net profit (2.565 trillion dong) to provision for risks in 2017. Mean- while, this number at BIDV was 62.9 percent of the net profit, reaching 14.915 trillion dong. According to assessment of financial experts, in 2018, CIs will continue to provision at 20 percent of the special bonds after selling debts to VAMC. Accordingly, CIs having large amount of outstanding special bonds will continue to be negatively impacted by the provisions for risks, while a small number of CIs which have completed settling bad debts at VAMC will see a more favourable business year. Chair of Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) Duong Cong Minh said that the bank's bad debt ratio was 6.68 percent in early 2017 and 4.28 percent in late 2017. It is expected to be lowered to 3 percent in 2018. Sacombank sets 2018 pre- tax profit target cautiously at 1.640 trillion dong. Bad debts and risk provisions are still the burden for Sacombank in 2018. Data gath- ered from financial statements showed that Sacombank currently has the highest bad debt ratio in the system. The surge of Sacombank's bad debts was due to the merger with Southernbank in October 2015. Meanwhile, according to SSI Retail Research, in 2018, after completing the handling of existing bad debts, ACB may record a pre-tax profit of 5.249 trillion dong, up by 130 percent compared to the realised figure in 2017. The bank's credit growth is estimated at 18 percent, equivalent to the overall level of the system. Meanwhile, its profit from business activities may increase by 10.2 percent to 11.740 trillion dong. As forecasted by the NFSC, in 2018, the bad debt settlement will be more positive and substantial, thanks to the stable macroeconomic factors, the growth momentum of the economy, the betterment in the situation of enterprises, stock market and real estate market, and the gradual improvement of the legal framework for bad debt and secured asset handling. Financial expert Huynh Trung Minh believed that the issuance of Resolution 42/2017- NQ14 has helped the settlement of bad debts become increasingly positive, especially when the real estate market gets warmer. Despite raising the 2018 profit targets, banks have also been cautious in building plans as the risk provision pressure still exists.

Foreign banks assure 14/MAR/2018 INTELLASIA| VNA continued presence in Some foreign banks have assured that they will retain their presence in Vietnam after Vietnam withdrawing capital from some Vietnamese partners recently, noting that the country is still an attractive market. Local media recently reported on the capital withdrawal of BNP Paribas of France,

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HSBC of Hong Kong (China) and Commonwealth of Australia from their Vietnamese partners. Last January, Standard Chartered of the US sold all of its 8.75-percent stake in the joint venture with the Asia Commercial Joint Stock Bank (ACB) of Vietnam. Meanwhile, Australian-owned ANZ Vietnam also sold all of its retail banking segment in the Viet- namese market to Shinhan Vietnam in December 2017. The withdrawal of the foreign investors has caused concern of a mass capital outflow from Vietnam. However, a representative of ANZ Vietnam confirmed they will not exit the country, adding that the transfer of the retail segment to Shinhan is part of ANZ's strategy to increase its capital efficiency and focus resources on business and financial institution clients, which are the biggest business segments of ANZ in Asia. The representative said with its long-standing successful operations in Vietnam, the bank pledges to continue its presence in this market to support businesses and financial institutions. FINANCE Commenting on some foreign banks' capital withdrawal, economy-finance expert Bui Quang Tin said investors usually have their own plans or strategies after joining a partnership. "Additionally, business is not always smooth, so withdrawing or investing capital is just a business strategy of foreign investors," he added. According to finance-banking expert Nguyen Tri Hieu, many Asian investors have entered Vietnam over the past years. However, those from Europe are rather reluctant and in fact, some big European banks have pulled capital out of Vietnam. He attributed the situation mainly to Asian investors' understanding of the market and business culture in Vietnam. They have also possibly had traditional clients here, and investing in the country is a way to support the clients from their homelands. Some foreign banks also highly value the Vietnamese market, especially its retail banking segment. Sabbir Ahmed, head of the Retail Banking and Wealth Management at HSBC Vietnam, said retail is still an important business segment of HSBC in Vietnam. The ANZ representative also expressed optimism about business opportunities in the Southeast Asian nation, citing a stable government, a favourable population, increasing trade integration and foreign direct investment and the strong growth of the middle class. Bui Quang Tin said foreign investors are likely to invest more in local banks like Viet- combank, VietinBank and BIDV when these banks expand foreign ownership. Agrib- ank's coming equitisation has also attracted great interest from foreign investors. Private commercial banks are predicted to earn good profits this year and the following years. While the bad debt rate is expected to decline, bank stock value has risen significantly recently. Those factors will entice investors in the time to come, he added. Echoing this view, Nguyen Tri Hieu said thanks to the recent signing of the Compre- hensive and Progressive Agreement for Trans-Pacific Partnership, Vietnamese banks will be attractive destinations in the future. https://en.vietnamplus.vn/foreign-banks-assure-continued-presence-in-vietnam/ 127790.vnp

Foreign banks' 14/MAR/2018 INTELLASIA| VNS withdrawal no cause The trend of foreign financial institutions withdrawing capital from their Vietnamese for concern: experts joint ventures has raised questions about the country's state of financial stability, but experts claim the situation is no cause for alarm. Since early to mid 2017, well known international institutions such as France's BNP Paribas, Hong Kong's HSBC and Australia's Commonwealth Bank have attracted media attention as they took turns withdrawing money from their Vietnamese partners. The trend continued with ANZ's sale of their retail sector in Vietnam to Shinhan Bank's Vietnamese branch in December 2017. US Standard Chartered Bank sold its entire 8.75 per cent stake in a joint venture with Asia Commercial Bank (ACB) in January 2018.

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The main reason for a number of international banks' narrowed operations in Vietnam, according to some experts, is an inevitable change in their business strategy. These banks consider maintaining previous investments less profitable than withdrawing capital from their Vietnamese partners and investing elsewhere. Banking expert Nguyen Tri Hieu drew a contrast between Western banks and Asian banks. He explained that Asian investors are quite knowledgeable about Vietnam's market and business culture with their own native clients working here, much more so than their Western counterparts. Hieu told the Vietnam News Agency (VNA) that in recent years, many Asian investors from Japan, South Korea, Malaysia and Singapore have entered Vietnam, while investors from European countries are becoming more cautious, with some banks withdrawing capital from the country. Talking to the VNA, financial expert Bui Quang Tin said that a divergence in business strategies is unavoidable when domestic and foreign capital investors work together for a significant length of time. FINANCE Tin shared his positive view that in the near future, foreign investors will be able to invest more in local banks, namely Vietcombank, VietinBank or BIDV, once these institutions opt for a more open cooperation policy, especially with Agribank's immi- nent equitisation. He further argued that private commercial banks should expect profit in the following years to rise, while the bad debt ratio is expected to decrease thanks to the National Assembly's Decree 42 on handling bad credit institutions. In the same vein, the National Financial Supervisory Commission quoted financial and banking expert Can Van Luc that the national banking system is better than it was a few years ago. Luc opposed the suggestion that a high level of non-performing loans, lack of risk management and corporate governance have reduced Vietnamese banks' attractiveness. "I do not think that the country's business market is deteriorating, nor is it the reason behind decreasing banks' profit, as some have commented," said Luc. On the contrary, positive factors such as sharply increasing banking stocks, average annual growth rate of 15 to 16 per cent in the financial sector and a more open legal corridor mean Vietnam should be seen as a potential investment destination, he added. Here to stay In order to attract and retain investment from foreign banks, the domestic banking system would need to be more flexible, professional and comprehensively re-structured, said Hieu. "The national banking system has begun restructuring in recent years, but still not all the way. Only when domestic banks are able to deal with bad debts, replenish their own capital to become healthier, more stable and more attractive, can foreign investors start pouring money in," he explained. And yet, ANZ Vietnam's representative told the VNA that they will not be out of Vi- etnam completely, acknowledging a long and successful operation history in the country. According to ANZ, the transfer of their retail banking business to Shinhan Bank is part of a strategy to simplify the bank and increase its capital efficiency. This would hopefully allow ANZ to focus its resources on Asia's largest business seg- mentcorporate clients and financial institutionsas ANZ is one of the four leading banks in trade support and capital in the region. ANZ's representative further said that the bank was committed to continuing its presence in Vietnam, to support regional and national financial institutions and businesses. The bank was optimistic about business opportunities in Vietnam, thanks to the stable government, favourable population model, trade integration and foreign direct investment, as well as the rise of a new middle class.

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Non-life insurers set 14/MAR/2018 INTELLASIA| DTCK cautious targets in In 2018, many non-life insurance companies set cautious business targets, especially 2018 those having large market share. According to business plans, insurer with large market share such as Bao Minh, PTI, and PJICO aims to achieve revenue growth of about 5-10 percent, in which 10 percent is the highest rate if the market sees more positive factors than forecasts. Some other companies set very low growth and even did not aim at positive growth this year. In 2018, Bao Minh targets to reach total revenue of 4.318 trillion dong, up by 5.6 percent. The company generated 4.089 trillion dong revenue, 4.36 percent exceeding plan. In particular, original premium revenue reached 3.411 trillion dong, 2.68 percent exceeding plan and up by 9.96 percent compared to 2016. According to Bui Xuan Thu, general director of PTI, the insurance market is likely to continue experiencing fierce competition and the natural disasters are unpredictable. "With the aim of controlling the compensation rate and maintaining business and production efficiency, we expect

FINANCE to grow the 2018 revenue at the overall rate of the market of 8 percent", said Thu. In 2017, PTI recorded 3.331 trillion dong in revenue, up by 3.2 percent compared to 2016. For PJICO, the company aims at 8-10 percent revenue growth this year, with the expectation to develop the group of foreign-invested clients and promote trendy sales channels such as bancassurance and online channel, etc. For insurers with smaller market share, the growth targets in 2018 are set higher than the common target of 8-12 percent of the market. For example, BIC strives to achieve premium revenue of 2.1 trillion dong, up by 16 percent compared to 2017, and aims to record profit from insurance business. The total premium revenue of BIC in 2017 was 1.810 trillion dong, up by 6 percent compared to the previous year. Its original compensation rate was 41.6 percent in 2017, lower than the 40.3 percent recorded in 2016, being the lowest rate in the past three years. Meanwhile, MIC sets revenue target at 2.5 trillion dong, up by 20 percent, and compensation rate at below 32 percent. Last year was a fairly successful year for MIC as it for the first time attained revenue of 2.123 trillion dong, up by 11 percent, raising the market share from 4.5 percent to 5 percent. According to some experts in the industry, the non-life insurance market in 2018 is forecasted to see major changes which mainly come from the cost management activities under the pressure of shareholders. Domestic companies have set lower growth targets, partly to cope with the possibility that car prices will fall sharply due to the impact of import tax exemption, and also the negative consequences when having to increase fees to cut losses. Since motor vehicle insurance premiums account for up to 40 percent of the total premiums of the market, it is normal when the changes in policies and purchasing powers of the auto market have strong impact on the insurance market. For foreign non-life insurance companies, the year 2018 is still forecasted to be difficult. Due to the disadvantages in relations and in the race to reduce premiums, dozens of foreign insurance companies together have never surpassed the 10 percent market share. In the recent time, insurers such as AIG, AAA and Liberty have been continuously restructuring, cutting staff and changing strategies in order to reduce fixed costs. Mar- keting and branding activities have almost been abandoned, causing these firms to not only fail to keep up with the growth of domestic insurers but also record revenue decline. "Since the retail insurance product market in Vietnam has a lot of potential but competition is fierce, for foreign insurers, it is still an uneasy playground", said an expert in the industry.

Jardines Matheson to 14/MAR/2018 INTELLASIA| VIR play part in Jardines Matheson, the strategic investor of Vinamilk, Truong Hai Auto Corporation restructuring weak (Thaco), Refrigeration Electrical Engineering Corporation (REE), and various other banks? companies, will pay attention to the restructuring of weak banks and credit institu-

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tions in Vietnam. Jardines Matheson Holdings Limited is a British conglomerate incorporated in Bermu- da with its primary listing on the Singapore Exchange. The firm's revenue was estimated at over $70 billion in 2017. It has been present in Vietnam for over 20 years in a variety of fields and sectors. Jar- dines Matheson is holding 10 per cent of Vinamilk's charter capital, 25 per cent of Thaco, over 23 per cent of REE, as well as various stakes in other real estate and construction companies. At the meeting with deputy prime minister Vuong Dinh Hue on March 12, Henry Kes- wich, chair of Jardines Matheson, applauded Vietnam's to comprehensive economic results achieved in 2017 and the successful deals to sell state capital in enterprises and attract qualified foreign investors. He also expressed interest in the equitisation and divestment activities at state-owned enterprises (SOEs) and wanted to further participate in this sector. DPM Hue said there are many cooperation opportunities between firms of the two FINANCE countries, and there will be even more in the time coming. He also suggested Jardines Matheson to further develop in the sectors of milk products, automobiles, machinery, construction, real estate, as well as finance and insurance. Additionally, the group could expand investment and participate in restructuring SOEs and credit institutions in Vietnam, which are two of the five major economic restructuring initiatives. Thereby, the government has issued a list of SOEs to divest and equitise by 2020. According to plan, the state will only hold capital in security-defense companies and special public services firms. Currently, Vietnam is also working to handle weak banks to achieve the balanced development of credit and non-credit services. The Vietnamese government commits to ensuring macroeconomic stability and creating a favourable business environment in line with international standards and practices. The capital-securities, labour market, science-technology applications, and land policies also being developed to support businesses. Moreover, Vietnam is member of more than ten regional and global free trade agreements. http://www.vir.com.vn/jardines-matheson-to-play-part-in-restructuring-weak-banks- 57132.html

Japan bank considers 14/MAR/2018 INTELLASIA| VNA funding The Japan Bank for International Cooperation (Jbic) is considering funding the Block PetrolVietnam's gas B&52/97 project of the Vietnam Oil and Gas Group (PetrolVietnam) using loans with- project out a government guarantee. General director of PetrolVietnam Nguyen Vu Truong Son recently worked with Jbic representatives on financial arrangements for the project. According to PetrolVietnam, the project, worth nearly 10 billion USD, is one of the two largest gas projects in Vietnam. The capital arrangement for the project is one of the main concerns of foreign partners involved in the project. The Block B&52/97 project's oilfield development report was approved by contractors and the State appraisal council, while its environmental impact assessment report was ratified by the Ministry of Natural Resources and Environment. The quantitative risk assessment report was also submitted to the Ministry of Industry and Trade. As scheduled, the contract will be awarded in June 2018, and the signing of Engineer- ing Procurement Construction and Installation (EPCI) contracts for the project will be performed in July. The Block B&52/97 project includes two sub-projects. The first aims to develop the Block B oilfield, with PetrolVietnam owning the most capital of the project (42.896 percent). Other investors are the PetroVietnam Exploration and Production Corporation (26.788 percent), the Mitsui Oil Exploration Company (MOECO) of Japan (22.575 percent), and Thailand's PTT Exploration and Production Public Company Limited (PT- TEP) (7.741 percent). The remainder is to build the Block BO Mon gas pipeline with a total length of 430km.

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It is invested by PetrolVietnam, PetroVietnam Gas Corporation (PV Gas), MOECO and PTTEP. The Block B&52/97 project is expected to bring ashore 5.06 billion cu.m of gas per year within 20 years, meeting gas demand of power plants in the south. It is hoped to contribute about 18 billion USD to the State budget. https://en.vietnamplus.vn/japan-bank-considers-funding-petrolvietnams-gas-project/ 127784.vnp

CPTPP a progressive 14/MAR/2018 INTELLASIA| VNA trade direction in 21st One year after the US's withdrawal from the Trans-Pacific Partnership (TPP), the re- century maining 11 Asia-Pacific countries, including Vietnam, have signed a new Comprehen- sive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) to remove tariff barriers in the region. This is considered a move towards progressive, open and equal trade, without the

FINANCE threat of trade wars. The signing of the CPTPP has delivered a strong message against protectionism, which is emerging across the world as a barrier to global trade growth. The new deal also marks the endless efforts of the remaining 11 member countries to revive the TPP. Japanese minister of State for Economic and Fiscal Policy Toshimitsu Motegi described the CPTPP as a historic achievement that creates free and fair rules in Asia-Pacific. The deal not only benefits member countries but also creates new momentum for regional economic-trade cooperation and connection. Many leaders from the 11 CPTPP nations have welcomed the pact as a clear message of support for free trade and multilateralism. Chilean President Michelle Bachelet declared that the signing of the CPTPP is a com- mitment to global integration and a strong signal against protectionism. It is also an ambitious and strategic multilateral cooperation deal in the context of globalisation. Covering 500 million people on both sides of the Pacific Ocean, the pact represents a new vision for global trade as the US imposes steel and aluminum tariffs on even some of its closest allies. The New York Times quoted Wendy Cutler, a former United States trade negotiator who worked on the Trans-Pacific Partnership as saying it's hard for the US to ignore rules that other countries have agreed and must look carefully at these rules. Meanwhile, the Wall Street Journal posted a story titled "In America's Absence, the TPP Goes On", highlighting the survival of the TPP, now CPTPP or TPP 11, which will be a boon to traders in Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore and Vietnam. The CPTPP is also the latest illustration that other countries are accelerating efforts to conclude trade deals. The CPTPP was inked at a ceremony chaired by Chilean President Micelle Bachelet in Chile on March 8, 2018. Trade ministers of 11 countries participating in the trade pact, namely Australia, Bru- nei, Canada, Malaysia, Mexico, Japan, New Zealand, Peru, Singapore and Vietnam, at- tended the event. The ambitious deal came after the US pulled out of the TPP agreement last year. It sets high criteria in numerous fields, including labour, the environment, intellectual property, digital economy and cyber security. The pact will create one of the world's largest free trade blocs with a combined market of 499 million people and GDP of about 10.1 trillion USD, accounting for 13.5 percent of global GDP. https://en.vietnamplus.vn/cp-tpp-a-progressive-trade-direction-in-21st-century/ 127788.vnp

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Vietnam prime 14/MAR/2018 INTELLASIA| TUOITRE NEWS minister says first- Vietnam's economy in the first quarter this year is led by robust exports and tourism quarter growth of 7.41 Vietnam's economy is likely to grow by 7.41 percent in the first quarter this year, led pct likely: website by robust exports and tourism, according to prime minister Nguyen Xuan Phuc, a statement posted on a government website said on Monday. The tourism sector in the January-March period likely grew by 60 percent while total trade will be up by 40 percent from a year earlier, Phuc told a gathering of Vietnamese during an official visit to New Zealand, it added. If achieved, the figure would be the highest first quarter growth in years, well above the expansion of 5.15 percent in the first quarter of last year. Vietnam's growth is often lower in the first quarter than the rest of the year, due to a week-long holiday for the Lunar New Year, which often falls in February. Phuc also said Vietnam is likely to post a trade surplus of nearly $2 billion in the three- month period, according to the statement.

FINANCE Vietnam's economic growth was seen expanding by 6.83 percent this year from 6.81 percent last year, the investment ministry said on Wednesday, citing its socio-economic forecasting and information agency. The government's General Statistical Office is scheduled to release official GDP data on March 29. After visiting New Zealand, Phuc will pay an official visit to Australia later this week, to attend the Asean-Australia Summit in Sydney. https://tuoitrenews.vn/news/business/20180313/vietnam-prime-minister-says-first- quarter-growth-of-741- percent-likely-website/44507.html

DOC receives 14/MAR/2018 INTELLASIA| VNA petitions for anti The US Department of Commerce (DOC) has received petitions on an anti-dumping dumping investigation into polyethylene retail carrier bags (plastic bags) from Vietnam, report- investigation on ed the Department of Trade Defence under the Ministry of Industry and Trade of Vi- plastic bags etnam. According to the department, the products subject to these investigations are laminated woven sacks (LWS) comprised of one or more plies of fabric consisting of woven polypropylene strip and/or polyethylene strip that is laminated to an exterior ply of plastic film imported from Vietnam, coded HS 6305.33.0040, 3917.39.0050, 3921.90.1100, 3921.90.1500, 3923.21.0080, 3923.21.0095, 3923.29.0000, 4601.99.0500, 4601.99.9000, 4602.90.0000 and 5903.90.2500. The petitions were filed by Polytex Fibers Corporation and ProAmpac LLC. They have alleged that LWS products from Vietnam are under government subsidies and sold in the US at less than normal value, causing significant losses for US domestic production. The DOC has 20 days to examine the petitions in accordance of US law and will announce to initiate the investigation or not on March 27. https://en.vietnamplus.vn/doc-receives-petitions-for-anti-dumping-investigation-on- vns-plastic-bags/127806.vnp

Turkey's anti- 14/MAR/2018 INTELLASIA| VNA dumping The Turkish Ministry of Economy has launched an anti-dumping investigation into investigation into core welding wire imported from Vietnam, according to the Vietnam Commercial Af- Vietnam's core fairs Office in Turkey. weldining wire The investigation is based on petitions filed by Gedik Kaynak Trade and Industry Ltd, Co. and Oerlikon Welding Electrodes and Industry Ltd, Co. They have alleged that increased imports of the product have caused significant losses for the Turkish indsutry. The Vietnam Ministry of Industry and Trade said the investigation agency will send the questionnaire to concerned businesses that the agency is aware of. Those that do not receive the questionnaire can download it at the Turkish Ministry of Economy's website at www.economy.gov.tr. The businesses have 37 days to answer the questions from the day the notice was issued.

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The answers must be in Turkish and sent to T. C. Ministry of Economy general direc- torate of Imports Dumping and Subsidy Research Office Soutozu Mahallesi 2176. Sk. No: 63 Cankaya/ Ankara Fax: 90 312 204 8633 Email: [email protected]. https://en.vietnamplus.vn/turkey-initiates-antidumping-investigation-into-vietnams- core-welding-wire/127777.vnp

VN's laminated 14/MAR/2018 INTELLASIA| VNS woven sacks might The Department of Trade Defence under the Ministry of Industry and Trade has re- face anti-dumping ceived the US Department of Commerce (DOC)'s request for an antidumping (AD) investigation and countervailing duty (CVD) investigation on laminated woven sacks imported from Vietnam. The products under investigation included bags and packing bags consisting of woven polypropylene strips and/or polyethylene strips, resin or similar materials imported from Vietnam.

FINANCE Laminated woven sacks (LWS) subject to the scope are typically used for retail pack- aging of goods such as pet food and bird seed. Laminated woven sacks produced in Vietnam are subject to the scope regardless of the country of origin of the fabric used to make the sack. The petitioners were the Laminated Woven Sacks Fair Trade Coalition and its individual members Polytex Fibers Corporation and ProAmpac LLC. They have alleged that the LWS products imported from Vietnam are sold in the US at less than "normal value" due to the government's subsidy which has caused/threat- ened substantial damage to the US industry. The petitioners allege dumping margins of 109.95 per cent to 294.57 per cent. Under US law, the DOC will have 20 days to review the complaint and is expected to issue a decision on whether to investigate by March 27. With the policy 'America First,' Donald Trump's government is reviewing its trade policy. On March 8, President Trump signed a proclamation to impose a 25-per-cent tax on steel and a 10-per-cent duty on aluminium imports. Vietnam is one of the countries affected by this decision. http://bizhub.vn/news/vns-laminated-woven-sacks-might-face-anti-dumping- investigation_293112.html

Cement consumption 14/MAR/2018 INTELLASIA| VNS on the rise The country's cement consumption in the first two months of the year posted a year- on-year increase of 85 per cent to reach 18.55 million tonnes. According to statistics of the Department of Building Materials under the Ministry of Construction, cement consumption in the period had surged both in local and export markets. The department attributed this to a halt in cement production in China. In February alone, cement consumption reached 7.62 million tonnes, increasing by 38 per cent compared to the same period last year and meeting 23 per cent of the annual target. Cement sold in the domestic market rose by 11 per cent over the corresponding period last year to 5.02 million tonnes. The country exported 2.6 million tonnes of cement in February, increasing 30 per cent from last year. Cement exports in the first two months of the year reached 5.5 million tonnes, repre- senting a year-on-year increase of 121 per cent. Cement prices were stable last month. http://bizhub.vn/news/cement-consumption-on-the-rise_293130.html

Qualified t people 14/MAR/2018 INTELLASIA| THE SAIGON TIMES soughfor State capital The newly established committee for State capital management must ensure that its management staff can hit the ground running, deputy prime minister Vuong Dinh Hue told a meet- committee ing in Hanoi on March 12. Hue chaired the meeting on the drafting of a government decree regulating the committee's structure and duties, local news website To Quoc reported.

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Chair of the committee Nguyen Hoang Anh said personnel recruitment would be made transparent and that only talented people would be employed. The committee will set out personnel management criteria in the near future, he noted. The committee is responsible for directly implementing the duties assigned by the government and the prime minister, so deputy prime minister Hue said it is crucial to have people who can work effectively from the beginning. Therefore, relevant ministries and agencies need to propose good candidates for the committee. According to deputy minister of Finance Tran Van Hieu, 21 State business groups and corporations will be transferred to the committee. Twenty of these entities have presented preliminary reports, which put their total assets at over VND1,600,000 billion, and State equity at around VND800 trillion. http://english.thesaigontimes.vn/58746/Qualified-people-sought-for-State-capital- management-committee.html FINANCE SOEs failed to disclose 14/MAR/2018 INTELLASIA| VNA business information The Ministry of Planning and Investment (MPI) has just asked the government to han- to be punished dle the state-owned enterprises (SOEs) which failed to disclose their business information in 2017 in line with the government's Decree 81/2015/ND-CP issued in September 2015. According to the ministry's report, by the end of 2017, only 265 out of 622 SOEs sent reports to publicise their information on MPI's business information portal. However, most of them sent only five out of nine reports required for publication. The rest mostly operate in irrigation, agriculture, forestry, and lottery in localities. They included the Shipbuilding Industry Corporation (Vinashin), the Vietnam Ex- press Corporation (VEC), the Vietnam Northern Food Corporation (Vinafood), the Ag- riculture and Rural Development Bank (Agribank), and enterprises under the Ministry of Culture, Sports and Tourism. Besides, many subsidiaries failed to follow the Decree, including one under the Viet- nam National Oil and Gas Group (PetroVietnam), two under the Vietnam National Chemical Group (VinaChem), five under the Vietnam National Coal Mineral Indus- tries Holding Corporation (VinaComin), and four under the Vietnam Rubber Group (VRG). As of December 31, 2017, only 20 out of 84 governing bodies disclosed their business information in line with the decree. The rest have yet strictly followed the decree, in terms of setting up a column to disclose their business information, inspection, monitoring and violation handling. The MPI proposed the prime minister instruct ministries, and the provincial People's Committees to promptly complete their reports and send to the ministry; and deal with responsibility of the leaders of the SOEs which failed to follow the decree, and publicise the punishments on their own websites and MPI's business information portal.- https://en.vietnamplus.vn/soes-failed-to-disclose-business-information-to-be-punished/127807.vnp

$66b invested in 14/MAR/2018 INTELLASIA| VNS Greater Mekong Sub- The Greater Mekong, including Vietnam, is expected to have a colossal $66 billion region: ADB official poured in to strengthen regional economic cooperation in the next five years, said an Asian Development Bank (ADB) official on Tuesday. The money was upped by $2 billion compared to what ministers of the six Greater Me- kong Sub-region (GMS) countriesMyanmar, Laos, Vietnam, Cambodia, Thailand and Chinaagreed to in the action plan framework for 2018-2022 late last year. It will more than triple the total amount of $21 billion mobilised for the region since the GMS development programme was first launched by the ADB in 1992, the bank's division of regional cooperation and operations coordination in Southeast Asia director Alfredo Perdiguero told the Vietnamese media.

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The ambitious financing agreement is due to be signed by leaders of the regional members at the triennial 6th GMS Summit hosted this March in Vietnam, in which hundreds of projects from different sectors will be put on the agenda to open more opportunities in trade and investment through closer regional collaboration. "Some $7 billion will be mobilised from the ADB. We will also bring in many other partners to contribute significant amounts, together with the governments of the GMS countries," Perdiguero said. Connectivity expansion "I can say the GMS has been one of the most successful programmes for regional cooperation and integration in Asia," he said. The development of extensive trans-national road networks which formed the three main economic corridors, or trade routes, connecting the member countries was so far the greatest achievement of the programme, given that there was little transportation connectivity in the region back in 1992. Vietnam, in particular, was the only country in the GMS that participated in all three FINANCE economic corridors, according to Perdiguero. They included the North-South corridor that connects Vietnam with China, the East-West to link central provinces of Hue and Da Nang with Laos and all the way to Thailand and Myanmar, and finally the South- ern one bridging HCM City with Phnom Penh and Bangkok. But as the development of physical connections in the region, which set the foundation for the countries' connectivity, was relatively complete, the GMS programme was seeking to expand the collaboration in several other sectors. Perdiguero said that they would range from power connectivity, agriculture to health and diseases, together with tourism and urban issues. Fruitful cooperation in those fields would involve not only the governments but also a bigger contribution from the private sector, particularly in tourism and agriculture, he added. "That's why we are very happy that the (Vietnamese) prime minister decided to organise the GMS Business Forum to bring in the energy, the ideas, and the knowledge from the private sector," Perdiguero said. Vietnam will organise the first-ever GMS Business Forum on the sideline of the GMS Summit. http://bizhub.vn/news/66b-invested-in-greater-mekong-sub-region-adb- official_293139.html

Can Tho enhances 14/MAR/2018 INTELLASIA| VNS collective economy Can Tho Cooperative Alliance aims to further enhance the development of cooperatives as well as the city's collective economy in both scale and quality this year. Specifically, it plans to establish at least 100 new cooperative groups and 35 cooperatives, unions of cooperatives and form at least 15 cooperative models that have sustainable value chains. It also aims to raise the number of cooperative members by at least 10 per cent compared to last year, the ratio of cooperatives that have high operation efficiency by 50 per cent and increase the charter capital of the Cooperative Assistance Fund to reach at least VND20 billion (US$879,000). To achieve the above objectives, the Can Tho Cooperative Alliance will coordinate with the People's Committee of the city's districts and the relevant agencies to reform propaganda of the government's policies on promoting the development of cooperatives and intensify communication about developing new-style cooperatives that link with value chain. In addition, the alliance will coordinate with the Department of Agriculture and Rural Development to review difficulties faced by cooperatives to help them solve difficulties. Organising training courses to improve management capacity for cooperative leaders, training for local officials on collective economic knowledge, strengthening solutions to mobilise capital for agricultural cooperative production and trading, and expanding

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the linkage in production and consumption of farm produce through promoting linkage among cooperatives, cooperative groups and businesses, are among its other fo- cuses for this year. It also advocates the development of diversified forms of cooperative groups, and creating conditions to boost the development of unions of cooperatives in localities and inter-regions, with a focus in agricultural and rural areas. At the same time, it will concentrate on raising its capacity in support, consultancy and supply services to meet cooperative demand as well as improve services providing capacity in terms of technology, governance and trade promotion for cooperatives It proposed that the Cooperative Assistance Fund renew its operations to increase the capacity to mobilise more resources so as to offer more loans to cooperatives. The alliance will cooperate with the city's Department of Planning and Investment and other relevant agencies to promote external activities in the direction of actively expanding international cooperation; seeking and calling for international investment in serving the development of cooperatives and the cooperative economy. FINANCE In addition, it will build and carry out a scheme to improve professional skills and foreign languages for staff members in charge of external affair jobs. Nguyen Duc Phuong, chair of the Can Tho Cooperative Alliance, said the city now has 223 cooperatives and 1,349 cooperative groups operating in the fields of agriculture, handicrafts, transportation and construction, commercial services and credit funds. Many cooperatives specialising in rice seed production and pangasius farming for export have achieved high revenue and profits, contributing to an increase of income for members. Last year, the city had 35 new cooperatives, up 46.5 per cent over 2016, with agricultural cooperatives accounting for 51 per cent. Many cooperatives have enhanced linkage between production and consumption, re- sulting in higher economic efficiency, he said. http://bizhub.vn/news/can-tho-enhances-collective-economy_293109.html

Property market 14/MAR/2018 INTELLASIA| VNS expected to be stable The country's real estate market in 2018 will maintain mid-term stability, while merger in 2018 and acquisition in the sector will continue to see strong development. This was revealed in the Top 10 Reputable Property Developers, Building Material Companies and Contractors 2018, which was announced by Vietnam Report and online newspaper VietnamNet on Tuesday. The surveyed top 10 firms said real estate developers would enjoy opportunities of high economic growth rate, newly-signed Comprehensive and Progressive Agree- ment for Trans-Pacific Partnership trade agreement to attract more foreign investment and approval for establishment of special administrative economic zones. However, the survey also said local property developers would face challenges of macro-economic instability in the region, State divestment making capital dispute more severe and virtual money affecting the market and condotel, officetel and hometel segments with potential risks due to lack of clear management policies. The firms said special administrative economic zones would continue to be promising lands to lure large real estate projects. The estate, construction and building material sectors will be linked to the Fourth In- dustrial Revolution. The survey revealed that in addition to traditional marketing methods, customers were increasingly getting access to property information through internet. More than half the surveyed people said they sought information on websites specialising in real estate and on social networks. When the requirements of home buyers become stricter, information in the market will become more transparent. Investors and contractors will pay attention to the sustainability and life span of projects and construction buildings. According to experts, the quality of estates in 2017 improved due to the pressure of competition. They said property developers were required to improve their ability while enhancing professionalism and quality in projects.

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Last year, the real estate market saw positive changes in all segments. In Hanoi and HCM City alone, there were 64,263 successful deals. A range of new products, such as condotel, officetel and hometel were developed, making the real estate market more attractive. According to the report, prestige was one of the top three reasons for customers in choosing a product in the real estate sector. Vingroup and Novaland top the list of the 10 most reputable property developers in 2018.Vingroup has been leading the market with diversified products such as apartment buildings, offices, resorts, shophouses, condotel and officetel. Novaland, on the other hand, has been a popular brand in the south, with strong financial abilities and large land funds. Coteccons Construction Joint Stock Company and Hoa Binh Corporation occupy the first and second positions in the list of top 10 reputable contractors in 2018. Hoa Phat Steel Joint Stock Company and Viglacera Corporation Joint Stock Company top the list of the 10 most reputable building material companies in 2018. Both are FINANCE large-scale companies in the building material sector with hundreds of construction projects every year throughout the country. The award ceremony will be organised on April 18 at the Vietnam National Conven- tion Centre in Hanoi. Top 10 Reputable Property Developers in 2018 1. Vingroup JSC 2. Novaland Group Corporation 3. Dat Xanh Real Estate Service and Constructions Corporation 4. Nam Long Investment Corporation 5. Khang Dien House Trading and Investment JSC 6. CEO Group JSC 7. Sai Gon Thuong Tin Real Estate JSC 8. Ha Do Group JSC 9. Him Lam Corporation 10. Hoa Binh Co. Ltd http://bizhub.vn/property/property-market-expected-to-be-stable-in- 2018_293143.html

Billions of dollars 14/MAR/2018 INTELLASIA| VIETNAMNET ready for The Vietnamese real estate market in 2017 welcomed a record-high number of foreign disbursement in investors, especially from Japan, the Republic of Korea, Singapore and China. property market Thu Thiem, the new urban area in HCM City, has been a magnet for foreign investors. The HCM City-based CII Group and Hong Kong Land in December 2017 signed a cooperation contract to develop Thu Thiem River Park. In the fourth quarter of 2017, CapitaLand announced it has taken over an apartment project covering an area of 1.45 hectares in district 4 at 53.5 million Singapore dollars, or $40 million. The transaction has raised CapitaLand's number of housing projects in HCM City to 9 and in Vietnam to 11. In another transaction, VinaLand divested all of its shares in Vina Square residential quarter project to Tri Duc for $41.2 million. Investors have also poured money into office building development projects as they see high demand for offices in central business districts. CapitaLand has signed a conditional agreement to obtain a land plot in the central area of HCM City, where it plans to develop an A-class international office tower, the first of its kind in Vietnam. Meanwhile, Mitsubishi has bought 11,000 square meters of office area in Le Meridien from Tien Phuoc Real Estate JSC and 990 Co Ltd The capital flow to Vietnam has been increasing significantly along with increased investments in Asia Pacific. A report found that investment capital in the region in the first nine months of 2017

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reached $97 billion, an increase of 12 percent over the same period last year, while the figure is expected to increase to $130 billion. The deal of transferring Asia Square Tower 2 office building from BlackRock to Capi- taLand Commercial Trust worth $1.5 billion was the most valuable office transfer deal in Asia Pacific and the second largest deal worldwide in 2017. Analysts say that foreign investors are optimistic about the Vietnamese real estate market. The majority of investors want to buy 'green' and 'clean' land, because they do not want to spend too much time on site clearance. However, there are very few land plots and projects which can satisfy their requirements. The housing market segment, according to JLL, a real estate consultancy firm, is the most attractive investment field as demand has risen thanks to an increase in middle- income earners. The analysts said that investors are now shifting their investments into commercial real estate, with a focus on A-class office projects in advantageous positions which FINANCE have investment yields of 7-8 percent. Investors also have shown special interest in hotel projects. http://english.vov.vn/market/billions-of-dollars-ready-for-disbursement-in-property- market-370314.vov

Vietnam's green 14/MAR/2018 INTELLASIA| VIR dream within reach Starting from a single green building, Singapore has risen to become the green city of Southeast Asia aiming to green out 80 per cent of the construction works in the city. Do Ngoc Diep, specialist at the Green Building Project of the World Bank Group's In- ternational Finance Corporation, looks at Vietnam's chances of realising its dream of becoming "a green spot" in the region. Grounds for green development In order to answer this question, it is necessary to look back at the history of the development of buildings from thousands of years ago. In the early days, when energy remained scarce, all the construction and operation of housing were carried out manually, posing little impact on the surrounding environment. However, moving to the industrial era (1880-1970), the myriad breakthroughs in science and technology allowed people to build high-rise buildings with more amenities. Due to the heavy emphasis on improving the functionality and facility of these buildings, construction works had underestimated climate adaptability and were heavily reliant on fossil energy sourcesa cheap and huge energy source at the time. Moreover, the unrestrained exploitation of fossil fuels by cities during this period also lead to un- precedented pollution. Since the early 1970s, architects and environmentalists have started embracing "green buildings." On the first Earth Day held in April 1970, the concept of green buildings was officially publicised. However, it was not until 1973, when the global oil crisis took place, that the efforts to build green buildings really began. In the US, the American Institute of Architects (AIA) formed a Committee on Energy that broke into two schools of thought. One group looked towards passive solutions such as reflective roofing materials and environmentally beneficial siting to achieve energy savings, while the other concentrated more on technological solutions such as the use of triple-glazed windows. In the wake of the oil crisis, green buildings received little attention, but there were still a number of key architects who continued to advocate and promote the concept. A couple of notable buildings constructed during the seventies which utilised green design concepts are The Willis Faber and Dumas Headquarters in England, which utilised a grass roof, day-lighted atrium, and mirrored windows, as well as the Gregory Bateson Building in California, which used energy-sensitive photovoltaic (solar) cells, under-floor rockstore cooling systems, and area climate control devices. Besides reducing reliance on major fossil fuel powerhouses, the utilisation of this energy source also exerts significantly positive impacts on the environment. In particu-

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lar, it helps tackle climate change challenges, which have raised concerns among governments, and thus encourages them to be more active in the development of green buildings. In 1990, the UK's Building Research Establishment (BRE) introduced BRE Environ- mental Assessment Method (BREEAM). This is considered the first green building rating system in the world. In the US, the US Green Building Council (USGBC) was founded in 1993 and in the same year US President Bill Clinton launched the "Greening the White House" programme with solutions to improve energy efficient in the building and other government facilities. Vietnam's greener future Although "green buildings" have become a worldwide trend a few decades ago, in Vi- etnam, they appeared about a decade ago and have only started garnering real interest in the past three years. This was when the awareness of "green living" started to grow and became more visible. FINANCE In 2007, some American factories investing in Vietnam employed the standards of the LEED (Leadership in Energy and Environmental Design) rating system to comply with the parent companies' policies. Also around this time, the Vietnam Green Build- ing Council (VGBC), a non-governmental organisation supporting the development of green buildings in Vietnam, was officially established. With the active support of foreign and local experts and organisations, VGBC has researched and launched the LO- TUS green building rating system. It consists of all the criteria set by the biggest rating systems in the world adjusted to conditions in Vietnam. During this period, the Green Mark system was introduced by Singaporean investors to a number of investment projects in Vietnam. Then, several Vietnamese organisations, including the Vietnam Association of Architects and the Vietnam Association of Construction Environment, have set their own criteria. Most recently, in April 2015, In- ternational Finance Corporation (IFC), the financial arm of the World Bank Group, officially announced a green building certification system for emerging markets, EDGE (Excellence in Design for Greater Efficiencies). IFC's new report "Creating Markets for Climate Business" predicts that along with the strong growth momentum of the Asian construction market, the presence of green trends, standards, and technologies will bring tremendous opportunities to widen the market for green buildings. In East Asia alone, the total investment demand for green buildings may reach $3 trillion by 2025, $726 billion of which will go for commercial buildings and $2.4 trillion for housing projects. To date, there have been nearly 100 registered works nationwide and more than half of them have achieved prestigious green building certifications. In addition, green criteria have become an integral part of architectural-planning competitions or architectural awards. However, the implementation of green construction criteria in Vietnam is still lagging behind other countries in the region, such as Singapore or Malaysia. In the five countries of Vietnam, the Philippines, Cambodia, Myanmar, and Laos, there are more than 300 green buildings in totala modest number compared to other developed countries in the region, such as Singapore with 3,000 green buildings alone (June 2017). As it is fully voluntary and non-compulsory, the motivation for green buildings in Vi- etnam largely comes from a sense of social responsibility and the need to reduce the operating costs of businesses. It also raises awareness and draws attention from local firms such as Tien Phat Corporation, Nam Long Group or Capital House, as well as foreign companies like Citra Westlake City Development Co., Ltd, Big C, Intel or Coca- Cola, just to name a few. Sadly, a large number of investors and developers in the country do not understand the issue of initial investment costs or the benefits that green buildings can yield. Many investors think that in order to achieve the green credentials for a certification, the project's investment cost will have to increase by 20-30 per cent. In fact, experience in green construction in Vietnam and other countries in the region

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show that the cost of investment increases by no more than 5 per cent. In addition, if architects bring out green ideas right from the beginning to create a green living environment and improve the efficiency of energy, water, and materials usage, the construction of green buildings without additional investment is absolutely feasible. Another barrier to green buildings lies in the attitude of Vietnamese homebuyers, who often consider price as a determining factor when choosing a residential or investment product. Meanwhile, a couple of factors that have long-term effects on the health and well-being of most communities, like the quality of construction, work efficiency, environment-friendliness and sustainability, do not receive much attention. Dreams come true The desire to develop green buildings, in combination with the determination to act, will bring us green buildings of real value. For green buildings to grow and flourish, the associated values must be shared by the whole society, instead of relying on the limited support of some pioneering investors and experts. Once the whole society joins, green buildings will be quickly replicated and become a model for green com- FINANCE munities and green cities, thus bringing great economic and spiritual value to the residential community. Given the current state of the real estate market in Vietnam, the expansion of green buildings is no longer impossible, as advanced countries with similar natural conditions and development experience have been helping us to perfect green technologies and practices. Just like the LED bulbsa product that only a few years drew doubts over its quality and price. Now, it has a firm foothold in the market with higher quality, diversified styles, and ever-decreasing prices. The cost of green technologies will also decrease as the scale of output increases. In addition, thanks to the pioneering investors who have built several green buildings over the past years, the market has accumulated a lot of experience in deploying "green" criteria on different types of construction works while at the same time building a team of experts with the capability to operate green buildings. With a rather solid foundation, what is lacking is a small impact to foster market development. This force can be generated by the government through the implementation of policies that recognise the importance and encourage the construction of green buildings to bring real benefits to the whole society as well as the environment. However, longer-term motivation must come from the consumers themselves. When consumers are aware of the benefits and incentives that green buildings can bring to themselves and their families, the "need" for green buildings will be created. At that time, the market will grow further to develop green buildings with higher quality and satisfy the increasingly arduous demands of customers. http://www.vir.com.vn/vietnams-green-dream-within-reach-57138.html

Property sales in 14/MAR/2018 INTELLASIA| VIR Industry 4.0 era Applying advanced technology is not only helping real estate buyers and sellers to manage information and transactions in an easy and efficient manner, but also enhancing the sellers' ability to connect and advertise their products. However, this is just the beginning of a long journey. Tech on every step of the way Trying to sell a property of some 40 square metres in Vinh Hung, Hanoi, a seller named Hoang often visits Facebook and other online property trading platforms to check out the prices of properties of the same size. His online activities have in fact been collected by software developers and he is considered a target for pop-up ads and email marketing. Hoang has been seeing the ads of properties that he once browsed through or those in similar price and size ranges in the neighbouring areas that are of concern to him. Most people like Hoang are rather surprised about these new types of marketing and advertising. They do not even know how these ad companies or real estate agencies get their phone numbers. It turns out that this is just a new trend of accessing potential customers among property developers and distributorsthe beginning of Industry 4.0

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in the property sector. Given the development of the Internet of Things (IoT) and artificial intelligence (AI), software programmers and Internet providers can collect data from users to form a big data warehouse, scrutinising the trends of Internet usage, online shopping, and products of interest. In a bid to reach target customers in a rather competitive market, mortgage brokers that are sensitive enough have launched their marketing campaigns on social media platforms, such as Facebook or Zalo, or through professional online advertising channels like Google AdSense. Many mortgage brokers even purchase customer data, which may include not only the customers' contacts but also their relationships, habits, and demands. Nguyen Quoc Anh, deputy general director of Dai Viet Group, the operator of online property trading platform batdongsan.com.vn, noted that with the development of technology, the online trading of properties has gained popularity due to its convenience and cost savings. FINANCE Property Technology, or PropTech, is the new generation of technology that helps transform the housing market through three main arms, comprising property information, property transaction, and property management. Through PropTech, developers will be able to manage their property trading and transactions completely online, tar- geting the tech-savvy younger generation. In the past two years alone, data from batdongsan.com.vn shows that some 52 per cent of homebuyers were in the 25-34 age bracket. This age group grew up with technology, social media, and integrated economies. They are highly adaptable and always willing to share facilities with one another. As a result, they are very fond of PropTech that helps them check information, com- pare the prices and products, calculate loans, and find financial solutions that fit them best. What is more, it reduces the risks of buying and selling houses, particularly when making the purchase through an agency. Procedures for housing transactions are also carried out online to save time. Professionalism needed According to Pham Thanh Hung, vice president of CEN Group, the opportunity to tap into the real estate market through disruptive technologies is huge, yet many PropTech startups have ended in failure. A reason for this is that they are often follow- ers and thus cannot make predictions. That being said, if they had started off with a PropTech app back during 2013-2014, right before the housing market begun to warm up, they would have been far more successful. Yet there have been a number of startups that develop property-related technologies. With large-scale marketing campaigns and customer networks, they have been reason- ably successful. However, there were difficulties along the way. User behaviour is one of them when many Internet or smartphone users are still new or rather unfamiliar with the PropTech apps or the application of disruptive technologies in real estate. Mortgage brokers, at the same time, do not fully understand the apps themselves and so cannot apply the advanced technology in their property sales. In addition, technology cannot replace the human factor, in this case, the professional mortgage brokers. Should mortgage apps be developed and welcomed by users, real estate agents may no longer find work, as sellers and buyers could contact each other through the apps. But a property buyer still needs a professional service provider to advise him on a purchase and whether the prices are reasonable. Especially, the related legal procedures require professional assistance. Last but not least, in property dealings, creditability is the most important thing. If an app fails to build trust amongst mortgage brokers, buyers, and sellers, it is destined to fail. This has in fact happened to some e-commerce businesses that forged information and at the end lost customers' trust. According to Hung, the application of technology is an indispensable trend in online property trading. While it cannot completely replace human agents, it is a new breeze of change promising to revolutionise the real estate sector to usher in the era of Indus-

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try 4.0. Adopting disruptive technologies is the new real estate trend, and it is a costly game to play as tech changes are unpredictable. The more startups or businesses join the race of advanced technology, the fiercer the competition will be, helping drive it towards professionalism. The ultimate beneficiaries will be homebuyers. http://www.vir.com.vn/property-sales-in-industry-40-era-57137.html

Office leasing market 14/MAR/2018 INTELLASIA| VIR promises undetained The office-for-lease segment in HCM City will maintain its growth momentum in the impetus on all fronts near future, after a successful year in 2017 featuring high occupancy, increasing rental rates, and strong demand. A bustling market According to the HCM City Real Estate Association's (HoREA) report on the real estate market in 2017, the city's office-for-lease market saw strong growth in 2017 with high

FINANCE occupancy rates. Especially, the Grade A segment recorded an average occupancy rate of 90 per cent. The total stock of office space in the city currently amounts to 1.8 million square metres. Meanwhile, real estate services firm CBRE Vietnam said that HCM City welcomed two Grade A and three Grade B buildings in 2017. The asking rent for both grades displayed a stable trend, with Grade A and Grade B achieving $37.04 and $20.63 per square metre per month. Grade A reported an increase of 1.3 per cent year-on-year, while Grade B displayed almost no change. The vacancy rate remained low, averaging 8.2 and 2.8 per cent for Grade A and Grade B, respectively, in 2017. The office-for-lease market saw a shift of projects from the city centre to suburban areas, according to HoREA. Three new office buildings were launched within one kilometre of Ung Van Khiem Street of Binh Thanh District. A slew of new Grade B offices are underway in districts 4, 7, Binh Tan, and Phu Nhuan. This is the first time in the last three years that the local market has embraced new high-end entries, which marks a step forward, according to Savills Vietnam' fourth quarter market report. Savills Vietnam said that the office market has suffered from a shortage of supply in recent years, and the vacancy rate is always at a low level, as larger sites are very hard to find in the central business districts (CBD). The economic recovery has brought massive foreign direct investment (FDI) capital, rapidly increasing demand for high-end office space. The occupancy of the operating buildings and the entire market's leasing capacity remained high, on 95 per cent throughout all quarters in 2017. Beside the main clients hailing from F.I.R.E. (financial, bank, insurance, and real estate) sectors, new factors that drive demand also became visible throughout the year. "Harmonising with the global and regional trends, entrepreneurs experienced in technology and e-commerce are growing rapidly in Vietnam and require both labour and office space. This sector also saw increasing office demand in the past two years," said the Savills Vietnam's report. Office-for-lease in HCM City draws great attention thanks to the positive indicators. The occupancy rates of HCM City and Manila (the Philippines) are two of the highest in Southeast Asia. Despite supply growth, there is also huge demand in the market. A robust year for office leasing Savills Vietnam forecasts that in 2018, capacity will remain high and rent will keep steadily climbing due to pressuring demand. According to CBRE Vietnam, from 2018 onwards, the market will rise with better supply, albeit at a slower pace than in 2017, with only one Grade A in the CBDDeutsches Hauswhile Grade B supply will continue to spread out at non-CBD districts like districts 2 and 10. Rental growth will increase at a slower pace as existing supply will rem- edy rental rates, while vacancy rates will surge momentarily before dropping just as quick as the market will continue its healthy absorption momentum with new supply.

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According to the HCM City Department of Construction, 2018 promises to be a buoy- ant year for the office-for-lease market due to new supply and strong demand. Bui Van Hieu, chief of Office at the HCM City Department of Construction, said that the city welcomed 41,194 newly-established enterprises in 2017, accounting for 32.4 per cent of the country's total. These new businesses have spurred the market demand for office space in the city. In addition, the city will also relocate 2,000 offices from con- dominiums in 2018. With regards to future supply, the city has a number of land plots ranging from 500sq.m to one hectare in both the city centre and urban fringe areas. As the land sites are not ideal for housing development, investors will build office buildings on these sites instead. Moreover, office buildings have easier licensing procedures than residential projects as they have no limitations on population density. The launch of office building projects in the suburban areas will significantly drive total stock in the city in the near future. In addition to traditional commercial lease, new officetel products by Novaland FINANCE Group, Hung Thinh Corporation, Vingroup, and Him Lam Land Corporation will come on stream in 2018. Savills Vietnam also forecasts a new breakthrough in 2018. With the successful organisation of the Apec Vietnam 2017, Vietnam is on the radars of multinational corporations. Savills Vietnam has learned that most of these companies want to set up representative offices in HCM City. Hoang Dieu Trang, senior manager of the Commercial Leasing Department at Savills Hanoi, said that the office leasing segment in Vietnam is at a turning point. In 2017, occupancy rates for high-end offices were at high levels in both Hanoi and HCM City with vacancies at the lowest points for the majority of projects in the CBD. This will drive average rental prices higher in 2018. The market will continue to see tenants move from downtown to the outskirts, turning them into new centres. New hubs for technology, telecommunications, and commercial companies are beginning to take shape in the south and the east of HCM City. Meanwhile, some new commercial leasing models like co-working space will affect the office market in HCM City in particular and in Vietnam in general. "These models have great potential for development due to new businesses' rising demand for office space. Also, the younger generation of workers prefer working in more open and communal settings, so 2018 will be the most exciting year for this segment," Trang said. http://english.vietnamnet.vn/fms/business/196643/office-leasing-market-promises- undetained-impetus-on-all-fronts.html

CP TPP to bring both 14/MAR/2018 INTELLASIA| VNA opportunities, The newly-signed Comprehensive and Progressive Agreement for Trans-Pacific Part- challenges to breeding nership (CP TPP), is expected to create many opportunities and challenges for Viet- sector nam's agricultural sector, including the breeding industry, stated Hoang Thanh Van, head of the Department of Livestock Production under the Ministry of Agriculture and Rural Development. Van said that as CP TPP will cut import taxes, breeding products of countries strong in the industry such as Canada, Japan and Australia will enter Vietnam, harming the breeding sector. He stressed the need to focus on improving quality of strong products, as the production cost of Vietnam's breeding sector is higher than in developed countries. He said that the CP TPP will allow national branded products to be exported to all member countries without limited quota as long as they meet the countries' requirements. This will pressure domestic production, but also benefit the country as Viet- nam's products will access more markets, he added. Van asserted that domestic farms should change their management method for integration. Import tax for breeding equipment will also be reduced, cutting production costs.

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Vietnamese agriculture is attractive as the economy is growing and consumption trends are changing, bringing opportunities to lure foreign investment, Van said, noting that many firms are looking to pour capital into building a genetic research centre in Hoa Lac hi-tech park. Institutional reform is another urgent need for Vietnam when CP TPP becomes effective, he said, underlining the significance of reviewing technical standards. After thoroughly studying the deal, Van affirmed that CP TPP will bring more benefits than negative impacts to Vietnam. Van revealed that the Department of Livestock Production will hold several national conferences on developing production chains for pork and chicken meat, while reviewing cow breeding methods to restructure the breeding industry. The CPTPP was signed in Chile on March 8 (local time) by representatives of 11 coun- triesAustralia, Brunei, Canada, Malaysia, Mexico, Japan, New Zealand, Peru, Singa- pore and Vietnam. https://en.vietnamplus.vn/cp-tpp-to-bring-both-opportunities-challenges-to-breed- FINANCE ing-sector/127780.vnp

CPTPP impacts on 14/MAR/2018 INTELLASIA| VNS small and medium Luong Hoang Thai, director general of the Multilateral Trade Policy Department, un- enterprises der the Ministry of Trade and Industry, speaks to Vietnam News Agency about the likely benefits and impacts of the CPTPP on the country's economy. Will Vietnam's interests be harmed by the CPTPP, especially because it is being enact- ed without the participation of the USA? All 11 countries signing the CPTPP have committed to open their market, investment and public procurement according to what had already been agreed on in the TPP. That's why, basically speaking, zero per cent of taxes will be levied on goods among all the CPTPP members. However, the other 10 member nations have agreed to give Vietnam a longer road map in implementing the tax article. The other 10 member nations have committed to opening their markets for Vit Nam at a high level. For example, for the case of ca ng (tuna fish), Japan has agreed to open their market for our tuna fish. In addition, they are also committed to opening their markets for our agricultural products. CPTPP members without the USA is still committed to opening their markets for Vi- etnamese goods, particularly in the areas of agro-fishery products, textiles, shoes and sandals. More particularly, the CPTPP will have positive impacts on our country's poverty alleviation programme. Will you please talk a bit further about the likely benefits to our export activities? All signatories to the Free Trade Agreement (FTA), including Vietnam, are looking for opportunities to expand their markets. Under the CPTPP this content will remain the same as what had been agreed in the TPP. That means the criteria for market opening remains very high. Regarding goods trade, a road map has been reached for the zero per cent tariff to be levied on goods among the 11 nations. However, for developed nations, the road map is about seven years while for developing nations, the road map will be longer to make it suitable to their development conditions. Basically speaking, the other 10 member nations have agreed to grant Vietnam a special treatment, no taxes for all of its goods. At present, on average, the export tax among CPTPP members is around 1.7 per cent. So if Vietnam enjoys free tax, it will have a direct positive impact on our exports. Al- though the USA is no more a member to the CPTPP, with its population of 320 million people, Vietnam will enjoy big benefits. Besides the field of goods, the CPTPP has also offered us quite a lot of benefits, including the fields of services, investment and the public procurement from the other 10 member nations. For example, in the past, Vietnam's public procurement activities abroad were very limited. But nowadays, such activities have increased. A case in point is that the FPT Corporation has offered its software services in Japan. Will you please talk more about the direct impacts of CPTPP on Vietnam?

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Joining the CPTPP is a vivid demonstration of Vietnam's resolve to reform in the course of its international integration. This is an indirect benefit for the country. According to research, indirect benefits are greater that the direct benefits from the opening of the market. World Bank research has shown that the CPTPP will directly help Vietnam to increase its GDP to 1 percent, but indirectly, it may help Vietnam reach a 3.6 percent increase in its GDP. In reality, signatories to a free trade agreement all agree to apply the same rules of the game. That's why, in many cases, the non-tariff barriers among the country members have been slashed considerably. For example, it took Vietnam many years to persuade foreign importers that our Viet- namese Thanh Long (dragon) fruits are safe to eat. But now our dragon fruits have met the FTA criteria, the importers will feel at ease to import our fruits. How are Vietnamese enterprises preparing for the CPTPP? I still remember when Vietnam joined the Asean Free Trade Agreement with Australia and New Zealand, many people argued that we would not be able to compete with FINANCE dairy products from Australia or New Zealand as the price of the dairy products were the cheapest in the international market. But in reality, our dairy products have been improved considerably. This is a good lesson for us. We should adjust the economic structure in whatever sector has good competitive advantages. The CPTPP has come up with a long road map in tax reduction for all enterprises to prepare. Of course, small and medium enterprises will face many challenges in this course. So they should pull their efforts to seize golden opportunities presented to them in the course of international integration. http://english.vietnamnet.vn/fms/business/197085/cptpp-impacts-on-small-and-medium-enterprises.html

Garment-textile sector 14/MAR/2018 INTELLASIA| VNA eyes 10pct growth in The garment-textile sector is aiming for a growth of 10 percent in 2018 in spite of huge 2018 challenges in the global market, said Le Tien Truong, director general of the Vietnam National Textile Garment Group. To realise the target, the sector will improve product quality and ensure on-schedule deliveries at reasonable prices to enhance its competitiveness. The use of technology will be enhanced to increase automatic production, as well as IT-based management and workers' skills. Nguyen Xuan Duong, Chair of the director Board of Hung Yen Garment Corporate underlined the challenges facing the sector, saying that export prices may fall, while production costs increase. Enterprises need to devise measures to become more productive and reform their management, Duong said. Vietnam's garment-textile sector is forecast to face huge challenges and fierce competitions in 2018, particularly from China, Myanmar and Cambodia. The sector earned 4.3 billion USD from exports in the first two months this year, up 22.3 percent year-on-year. https://en.vietnamplus.vn/garmenttextile-sector-eyes-10-percent-growth-in-2018/ 127775.vnp

Snacks market in VN 14/MAR/2018 INTELLASIA| VIETNAMNET worth $500 million The Vietnamese snack market, with value of $518 million in 2015, is expected to be worth $1 billion by 2020, experts say. Processed snacks account for 33 percent, nuts 30 percent and potato chips 24 percent. The snack market is becoming more attractive thanks to changes in Vietnamese spending habits, improved income per capita, and changes in lifestyle. A report from Decision Lab showed that people aged 15-23 eat snacks throughout the day with VND13 trillion spent every month. There are three main types of snacks, classified based on materials for processing, including potatoes, nuts and snacks made of fruits and food.

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The Vietnamese snack market revenue may reach $700 million in 2017. It is now the main source of growth for packaged foods in both urban and rural markets. Analysts say the real figure could be even higher if investors scale up their production. In March 2016, Koikeya Vietnam began building its $8.7 million snack factory in HCM City, and its first products were launched into the market last October. The leading Japanese snack food manufacturer has turned Vietnam into its first overseas production base, hoping to reach revenue of VND200 billion for hot chili snack products in the next three years. The snack market, however, is getting crowded with the arrival of many brands from all over the world. These include Liwayway's Oshi from the Philippines, PepsiCo's Poca and Orion's O'star. Meanwhile, Kinh Do is a veteran Vietnamese manufacturer making sliced potato chips. All these manufacturers have production bases in Viet- nam. In addition, the domestic market is also flooded with imports, mostly from Thailand and South Korea. The price levels vary, from VND5,000 per pack to VND20,000 per FINANCE pack, while imports are more expensive, priced at up to VND40,000. The materials used to make snacks are diverse. Oishi, for example, has introduced products made of pumpkin and tomato, while South Korean products are mostly made of seafood. An analyst said the key to success for snack manufacturers lies in marketing and distribution. Snacks sell better in public places like cinemas. However, he said, in order to introduce snacks into the CGV cinema network, distributors will have to pay VND1 billion a year. Karamucho has chosen Mesa as its major distributor. Mesa is also the distributor of Oishi. http://english.vietnamnet.vn/fms/business/196781/snacks-market-in-vn-worth--500 million.html

Supporting industries 14/MAR/2018 INTELLASIA| VNS urged to improve Vietnamese companies operating in the supporting industry need to increase compet- competitiveness itiveness to be able to enter global supply chains, experts said at a seminar held in HCM City Tuesday. Nguyen Thi Xuan Thuy from the Institute of Industrial Policies and Strategies (IIPS), which is under the Ministry of Industry and Trade, cited the example of Vietnam's status among Asean nations that manufacture vehicles. Compared to Thailand, Malaysia, Indonesia and the Philippines, Vietnam ranks third in population after Indonesia and the Philippines but its automobile production output ranks fifth among the five countries, she said. The Vietnamese parts supply industry is still underdeveloped, she added. Domestic manufacturing and assembling enterprises in Vietnam have to import automobile spare parts from various sources, including Korea, Japan, China, Thailand and Indo- nesia. Due to the small scale of Vietnam's automobile market, the costs for producing auto parts or components are high. Therefore, demand for domestically made parts is relatively low, constraining the development of the local supporting industry. As a result, automobile assembly firms choose to use imported parts, creating a vicious cycle that remains unsolved, she told the seminar on Supporting Industry in Industry 4.0. In principle, the number of part suppliers must be much higher than assemblers, but the total of suppliers remains very modest in Vietnam. For instance, the country has 20 automobile assembly firms, while Thailand has 16, but the number of Tier-1 and Tier-2 and 3 parts suppliers are 84 and 145 in Vietnam, compared to 690 and 1,700, respectively, in Thailand, Thuy said. Because the number and capacity of Vietnamese firms is still modest, entering the Asean production chain continues to be difficult. This year the tariff on complete-built-in (CBU) units on automobiles imported from

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Asean nations was reduced to zero per cent under the Asean Free Trade Agreement, causing competition among domestically made products. The automobile market in Vietnam has good prospects, she added. The potential of the country's automotive market is assessed based on factors such as the size and structure of the population, per capita income, the number of vehicles per 1,000 people, and infrastructure development. Vietnam has over 90 million people and a growing middle class, with per capita income estimated to reach $3,000 by 2020. The country's automobile market is expected to soon have an automotive consumption rate (known as motorisation) of 23 vehicles per 1,000 people, Thuy said. Road traffic systems are expanding with intercity connections through a network of highways, creating more favourable conditions for private cars, she added. Delegates at the seminar also spoke about the impact of the so-called fourth industrial revolution on the automobile industry. New technology will help firms increase productivity, but it will also expose challeng- FINANCE es for local firms. Because of the weak capacity of the industry, firms might lag behind others, they said. Nguyen Duong Hieu, chair and general manager of LIDOVIT Trading and Industrial JSC, said the impact of the fourth industrial revolution was still new to many Vietnam- ese. "I think local producers firstly need to invest in upgrading their technology, and integrate management systems to better manage their production and approach the market," he said. He said that management agencies should provide local part suppliers with specific requirements of foreign firms so they can prepare to meet their standards. Delegates also suggested that the government set up a website for businesses in the parts industry so they can update their information, which would make it easier for downstream producers, including foreign ones, to find parts suppliers. The seminar was held by the HCM City Department of Industry and Trade, the Board of Management of Saigon Hi-Tech Park and HCM City Export Processing and Indus- trial Zones Authority. http://bizhub.vn/news/supporting-industries-urged-to-improve- competitiveness_293140.html

Electronics industry 14/MAR/2018 INTELLASIA| VNS needs development: The consumer electronics industry has developed strongly in recent years but a lot seminar more needs to be done to ensure further development. "Electronics is one of the key industries with the deepest level of international integration, but the industry is still only focused on assembling, processing and after-sales service," Nguyen Phuong Dong, deputy director of HCM City's Department of Indus- try and Trade, said. Delivering a speech at a seminar in HCM City on Tuesday titled "Enhancing linkage opportunities in the electronic supply chain", he said in the last 10 years the number of enterprises in the industry had grown four-fold to 1,021, and the number of workers by nearly eight times to 327,000. "Relevant authorities would like to connect electronics enterprises by offering more incentives to encourage linkages." Bui Thi Ninh of the Vietnam Chamber of Commerce and Industry and the Union of Electronics Enterprises in Vietnam said the electronics industry had a very high growth rate and short life cycle for products, requires large investments, yields high profits but comes with intense competition and high risks. "The industry has the largest number of workers and earns a large amount of foreign currency. Dr Truong Thi Chi Binh, deputy chairwoman and general secretary of the Vietnam As- sociation of Supporting Industries (VASI), said: "To participate in the global supply chain, Vietnamese electronics enterprises must first meet safety demands and techni-

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cal requirements and limit hazardous content in their products. "Quality, environment and energy-efficiency are the general requirements. Corporate social responsibility and sustainable development are appreciated." VASI could actively support enterprises by providing consultancy, training, information, and databases and connecting them with international markets, she said. http://bizhub.vn/news/electronics-industry-needs-development- seminar_293138.html

E-commerce eager for 14/MAR/2018 INTELLASIA| VIR Amazon debut Amazon is making its long-awaited foray into Vietnam's e-commerce market in March, a move that could shake up the country's entire online retail market. On March 14, Amazon will make a presentation at the Vietnam Online Business Forum 2018 about its strategy to develop business in Vietnam. The US e-commerce firm will launch a cooperative programme with Vietnam E-com-

FINANCE merce Association (VECOM) this month to aid small- and medium-sized enterprises (SMEs) to sell through their website. Nguyen Thanh Hung, VECOM's chair, said that Amazon's strategy is to provide cross- border e-commerce trade, as well as to import products from Vietnam. "Vietnamese shoppers will buy products on Amazon, while Amazon is considering selling Vietnam's products. They want to support Vietnamese SMEs on Amazon," he said. Amazon Web Services (AWS), a subsidiary of Amazon, has been operating a representative office in Vietnam since 2017 to provide cloud computing services. AWS supplies cloud-based infrastructure services based on its parent company's back-end technology platform. Commenting on Amazon's move, Tran Trong Tuyen, general secretary of VECOM, said that this is good news for the market. In fact, the year 2017 was a turning point for the Vietnamese e-commerce sector with the entrance of many tech and financial giants. "Amazon's arrival is set to spur local market development. Services suppliers will compete to develop selling services, logistics solutions, ecosystems, and much more. Meanwhile, Vietnamese shoppers can buy goods with greater convenience and competitive prices," he said. Amazon has spent 2017 pushing into new territories. It expanded into the Middle East following the acquisition of Souq.com, while also debuting in Australia, and purchasing Whole Foods Market for $13.7 billion. Amazon has been continuing its international expansion push, with last year's launch of its services in Singapore. The move marks its first entry into Southeast Asia, a region of 600 million consumers where rivals Alibaba and Tencent are already actively investing. Alibaba spent $1 billion to acquire a 51 percent stake in Lazada in 2016. Last year, it injected another $1 billion in Lazada to raise the stake to 83 percent. Lazada is the region's largest e-commerce platform, and has operations in Indonesia, Malaysia, Singa- pore, Thailand, the Philippines, and Vietnam. Alibaba chair Jack Ma visited Vietnam in November to promote Alipay and other non- cash payment methods. The company has decided to cooperate with the National Payment Corporation of Vi- etnam, enabling Chinese tourists to use its online payment platform in Vietnam. According to VIR's source, Alibaba is in the process of buying Vietnamese e-commerce platform Sendo.vn to acquire more market share. Meanwhile, Tencent-backed gaming and shopping company SEA is the parent company of e-commerce marketplace Shopee Vietnam, which has delivered solid growth after nearly two years in the market. Recently, JD.com has managed to increase its presence in Southeast Asia by way of investing in Vietnamese e-commerce portal Tiki.vn. Meanwhile, Tran Ngoc Thai Son, CEO of Tiki.vn, hoped that the arrival of e-commerce giants will attract a wave of investment into local companies. Tiki fared well when Al-

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ibaba took over Lazada. Consumer-to-consumer marketplaces in Vietnam include Sendo.vn, Shopee, Chotot, and Vatgia.com, Lazada, Tiki, Adayroi, Lotte, and Vuivui are a few names among the local business-to-consumer marketplaces. http://english.vov.vn/economy/ecommerce-eager-for-amazon-debut-370266.vov

Some pursue, some 14/MAR/2018 INTELLASIA| BAO DAU TU abandon billion dollar Finally, the fate of Vung Ro Oil Refinery project was decided. After getting the approv- projects al of the government, Phu Yen province officially revoked the project that had the capital scale of $3.2 billion and had experienced 10 years without any operation. Vung Ro Oil Refinery project was licensed for the first time in 2008, with an initial scale of $1.7 billion, which was then increased to $3.2 billion. After a long period of prepa- ration, delay and then extension of implementation period, in September 2014, the project officially kicked off in the exhilaration of parties. At that time, the project in-

FINANCE vestorTechnostar Management Limited, committed to actively prepare to launch the project in 2016. However, the project has remained unchanged until now, and Phu Yen People's Committee has had to repeatedly urge and issued warnings about withdrawal of investment certificates. At the beginning of this year, Vung Ro Petroleum Co., Ltd unexpectedly signed cooperation agreement with Demino Tech (Denmark) to build a factory producing bitumi- nous materials (waterproof plastic, asphalt) in the area of Vung Ro Oil Refinery project, sparking the hope that the project will be relaunched. But there was no happy ending. After 10 years of obtaining investment certificate, Vung Ro Oil Refinery had to return to Phu Yen investment management agency this very significant paper. Interestingly, in the context that investment license in Vung Ro Oil Refinery project was revoked, the Southern Petrochemical Complex officially started construction in late February, after 10 years of changing owners. That is to say, while Technostar opens its hands, SCG Group (Thailand) chooses to hold its hands, even wanting to take on this project. Roongrote Rangsiyopash, Chair of SCG said this is the key project in the expansion strategy of this business in Asean, in which Vietnam is the focus. Nguyen Van Trinh, Chair of Ba RiaVung Tau People's Committee, at the ground- breaking ceremony of the project, did not hide the expectation that the project will create about 15,00020,000 jobs during construction period, more than 1,000 jobs for high technology labourers when going into commercial operation; and is expected to contribute $60 million per year to the state budget during 30 years from commercial operation in 2022. If SCG's plan in the Southern Petrochemical Complex is still being calculated, then in another perspective, it can be seen that many other billion dollar projects are operating effectively in Vietnam such as Samsung's hi-tech complexes in Vietnam. According to Samsung's recently released information, this group continued to have a bumper year 2017 with consolidated revenue at $212 billion, up 19 percent year-on- year. The after-tax profit also surged from $20 billion to $37.3 billion. Noticeably, Sam- sung Vietnam contributed largely to Samsung's global impressive business results. Samsung's report shows that in 2017, the total revenue and profits of four companies including Samsung Electronics Vietnam (SEV-Bac Ninh), Samsung Electronics Viet- nam Thai Nguyen (SEVT-Thai Nguyen), Samsung Display Vietnam (SDV-Bac Ninh) and Samsung HCM City CE Complex (SEHC-HCM City) grew 40 percent year-on- year. Specifically, these four companies generated total revenue of $61.5 billion, and $5.8 billion net profit, accounting for 29 percent and 16 percent of Samsung's revenue and profit respectively. The aforementioned figures once again show how big is Samsung's investment and operation in Vietnam. Last year, Samsung Vietnam exported more than $54 billion, contributing largely to Vietnam's export turnover. Not only "holding tightly", but Sam- sung has "closely clinged" to the Vietnamese economy. In fact, it is a normal thing in investment and business that this project owner may get

Intellasia 14 March 2018 28 / 50 Vietnam finance & business 14 March 2018

rid of a project while the other project owner keeps a project tightly. The issue is that after the Vung Ro Oil Refinery projectwhich used to gain many hopes of Phu Yen province in particular and the whole country in general, the public requires to review other large scale FDI projects that have remained "intact" for a long time. This is more necessary than ever when Vietnam is preparing to sum up 30 years of FDI attraction. Recent information shows that, along with Southern Petrochemical Complex project, some other billion dollar projects are about to be resumed. One of which is First Solar project, worth $1 billion, in HCM City. Even Berjaya has also spoken about the possibility of restarting the $3.5 billion Vietnam Financial Centre project in HCM City. Sharing with the local Newswire Bao Dau Tu at the end of last year, representative of Berjaya suggested that the project was likely to be restarted earlier this year. Now, it has nearly been the middle of March 2018, but there still has no information related to this issue. As such, HCM City may need to continue reviewing and urging investors to carry out its commitments. This project has been granted with investment license for 10 years now. FINANCE As in Ba RiaVung Tau, there are also many slow-moving projects. By the end of 2016, the province had to send documents "tracing" the investor of $900 million Dragon Sea project. Also in this province, Saigon Atlantic project has also existed for decades now. In Nghe An province, there is $1 billion Kobelco Steel project. It is not difficult to list a series of large-scale FDI projects that are slow in implementation. On several occasions, Prof Dr Nguyen Mai suggested that the Ministry of Plan- ning and Investment (MOPI) to comprehensively review unimplemented projects to classify into two types i.e. projects that can be implemented (Type 1) and projects that cannot be implemented (Type 2), thereby resolutely removing the statistics of Type 2 projects while urging and monitoring so that Type 1 projects can be implemented quickly. The Ministry of Planning and Investment has also urged localities to do so. However, there are still many projects that are "hanging", and need to continue being reviewed, removed.

Another domestic 14/MAR/2018 INTELLASIA| NHIP CAU DAU TU giant joins retail The heat in the retail market is increasing as more and more domestic and foreign segment brands appear. Most recently, T & T Group first opened supermarkets and convenience stores branded Qmart and Qmart + in Hanoi with small and medium size. This group does not hide its ambition to replicate this retail chain nationwide if the first bricks are successfully built. *Completing 4.0 agricultural chain The intention of Do Quang Hien, the founder of T&T Consumer, the management unit of Qmart and Qmart +, is clear. Retail sale is the missing piece of this corporation in completing its business chain from processing hi-tech agricultural products to distribution and consumption channels. In general, the selection of convenience stores and mini supermarkets is considered quite reasonable for a new player like T & T. The reason is that investment costs will not be as expensive as supermarkets and high-end trade centers. Management is also simpler from which the Group can both work and learn to adjust the steps to suit the reality. According to Nielsen Vietnam, the modern retail market in general and the convenience store channel in particular have grown tremendously over the years. While the number of traditional stores has increased by only 3-4 percent, the number of modern retail stores has increased fivefold in the period 2008-2016. "In the first six months of 2017, we saw the number of stores to rise to 400 units", said Nguyen Anh Dung, senior director of retail measurement unit at Nielsen Vietnam. Along with the opening of convenience stores and mini supermarkets, T & T Group also formally set up an unit specialising in agriculture development i.e. T & T Green Life Agriculture Development Company (T.Vita) to invest in producing and process-

Intellasia 14 March 2018 29 / 50 Vietnam finance & business 14 March 2018

ing agricultural products in the direction of high technology. It is expected that T.Vita's first agricultural product will debut on the shelves of Qmart and Qmart + at the end of this month. "T.Vita will organise production and distribution operations in a closed chain, integrating high technology in cultivation and processing, to ensure the quality and create added value for Vietnamese agricultural products", said Nguyen Thi Thanh Huyen, CEO of T.Vita". In line with organic growth strategy, the rapid expansion of asset scale of agricultural segment via M&A is also used by Hien. After spending trillions of dong on acquiring shares of corporations in the agricultural sector that have been equitised such as Vege- texco, Vigecam, Vinafor, recently, T&T Group has shaken the market as it plans to spend more than 1.2 trillion dong to own 25 percent stake of the Southern Food Cor- poration (Vinafood 2), one of the largest exporters and traders of agricultural products in Vietnam now. So, along with the financial support from SHB or significant experience in the real estate market, the expansion of investment into agriculture and retail distribution clearly FINANCE shows T&T's strategy to complete its business segments, aiming to serve the increasing consumer demand of the people, towards export. The room for modern channels in general, convenience stores and mini supermarkets in particular remain large for businesses to engage in. Especially, convenience stores and mini supermarkets are expected to grow strongly in the future thanks to the growing spending of nearly 60 percent of the population under the age of 35 along with fast shopping style of small households. "Modern retail market in convenience store and mini supermarket channels still has plenty of space when density of modern channels is 69,000people/store, the second highest among Asian countries", said Nguyen Anh Dung. According to Nielsen's recently released report on "Buyer Trend", in 2016, shopping rate at convenience stores was 19 percent, up three percentage points from 2015. Mean- while, shopping rate at supermarkets in 2016 was 46 percent, down from 52 percent in 2015 and 60 percent in 2014". As such, "it can be seen that consumers' shopping behav- iours have started to shift along with the strong development of convenience store chain", said Nguyen Anh Dung. But, retail sale is not easy to bring about benefits when competition pressure is very intense. Late last year, Saigon Co.op opened the first convenience store branded Cheers franchised by Singapore partner, and SonKim Land cooperated with South Ko- rean partner to develop retail chain G25 with the ambition of opening 2,000 stores within the next 10 years. Participants in convenience store chains and mini supermarkets also include Saigon Trade Corporation (Satra), FamilyMart, B's mart, 7-Eleven, Vinmart+, C Express, etc. with ambitious plans in the coming years. Facing new competition pressures, Mobile World has announced that it will inject three trillion dong to quadruple the scale of Bach Hoa Xanh chain from 283 stores to 1,000 stores by the end of this year, or Central Group plans to spend an additional $1.51 billion to expand its store chain in Vietnam. All want gain market share and rise to the top in the race worth up to $50 billion. Not only competing intensely and being ready for a competition on price, retail chains also have to compete with 1.48 million traditional grocery stores that are holding about 85 percent of the entire market sales. Changing consumption habit of the people from tradition to modern will not happen overnight. So, in order to win, retailers still have much work to do. According to Nguyen Anh Dung, such retail chains as Qmart, Qmart+ need to pay attention to consumption trend following modern style, understand customers, create attractiveness through the application of new technology, develop multi sales channels that integrate e-commerce, provide additional utilities in stores such as bank payment service, internet, logistics management system as well as arrange and classify goods so as to bring about the most convenience to customers. Finally, there should not ignore opportunities in rural areas. This area is reckoning for 68 percent of the population, with the average income of 5.3 million dong per month,

Intellasia 14 March 2018 30 / 50 Vietnam finance & business 14 March 2018

and this figure will continue growing very fast. The proportion of internet and smart- phones usage in rural area is also gradually catching up with urban area. That will be the opportunity for the development of e-commerce for retailers. For example, Alibaba has been very successful in China thanks to the fact that it can deliver goods to rural consumers in the most remote places.

Vietnam & New 14/MAR/2018 INTELLASIA| DTI NEWS Zealand trade to reach Prime minister Nguyen Xuan Phuc and his New Zealand counterpart Jacinda Ardern $1.7- 2bn by 2020 agreed on major directions to boost future Vietnam-New Zealand cooperation in all fields during their talks in Auckland on March 13, the Vietnam News Agency reports. In politics, the two sides agreed to maintain exchanges of delegations, especially high- level delegations, while strengthening people-to-people exchanges. In the spirit of the occasion, prime minister Phuc invited prime minister Ardern to visit Vietnam at an appropriate time and conveyed State President Tran Dai Quang's invi-

FINANCE tation to New Zealand's Governor-General to pay a State visit to Vietnam. The two sides also agreed to carry out the Action Programme for the 2017-2020 period in an effective manner and to soon organise the sixth meeting of the Joint Committee on economic and trade cooperation in Hanoi and the 11th Political Consultation in New Zealand. The two sides expressed their delight at the bilateral friendship and comprehensive partnership between the two countries, as the 10th anniversary of the Comprehensive Partnership approaches in 2019 and the 45th anniversary of bilateral diplomatic relations in 2020. In defense-security, prime minister Ardern agreed that the two sides should carry out specific cooperation within the newly-signed Action Programme on defense cooperation in the 2018-2021 period. The two need to promote affiliation in defense industry and research while strengthening collaboration in fighting transnational crime, terror- ism and drug trafficking amid the changing security situation in the region. In terms of economics and trade, both sides are satisfied with bilateral trade growth, which hit $1.24 billion last year for a year-on-year increase of more than 30 per cent. They agreed on numerous trade promotion activities, including the facilitation of farm produce exports, in order to bring bilateral trade to $1.7-2 billion by 2020. Prime minister Phuc asked New Zealand to continue facilitating the export of Viet- namese tropical fruit such as mango, dragon fruit, rambutan, star apple, grapefruit and longan and expand investment in Vietnam in fields where it holds strengths and Vietnam has demand, such as mining, energy, infrastructure, high-tech agriculture, education and finance. Regarding official development assistance (ODA), the Vietnamese leader said he is satisfied with the efficiency of New Zealand's ODA projects in Vietnam. He called for its increased provision with a focus on agriculture and rural development, human resources development, disaster risk management, and climate change. The New Zealand prime minister took the occasion to announce two new ODA projects: a three-year programme worth NZD1.5 million ($1.09 million) to help Viet- namese farmers increase their incomes, and a pilot project on renewable energy worth NZD500,000 ($365,000). The two sides reached consensus on intensifying collaboration in areas of potential such as education and labour. They acknowledged that cooperation in education and training is growing strongly and is one of the pillars of bilateral relations. They set a target to raise the number of Vietnamese students by 30 per cent by 2020 through encouraging the exchange of students between the two countries' universities. Prime minister Ardern expressed her delight at the positive growth in bilateral tourism cooperation, reflected through New Zealand welcoming 17,000 Vietnamese tourists last year. Assistance to Vietnam will be maintained in human resources training and support given to the opening of direct air routes linking the two countries and facilitating tour-

Intellasia 14 March 2018 31 / 50 Vietnam finance & business 14 March 2018

ism and trade cooperation. The two prime ministers affirmed they would push ahead with their cooperation and mutual support at regional and international forums such as the WTO, the East Asia Summit (EAS), the Asia-Pacific Economic Cooperation (Apec) Forum, and the Asia- Europe Meeting (Asem). Prime minister Phuc thanked New Zealand for supporting Vietnam in its hosting of the Apec 2017 meetings and in becoming a non-permanent member of the UN Security Council for the 2020-2021 tenure. The New Zealand prime minister will support and work closely with Vietnam in 2020 when it will take up the role of Asean Chair and the bloc and New Zealand will mark the 45th anniversary of the dialogue partnership and the fifth anniversary of the strategic partnership. New Zealand will host Apec Year 2021 and hopes to learn from Vietnam's experience, she added. The two countries agreed to jointly carry out the Comprehensive and Progressive FINANCE Agreement for Trans-Pacific Partnership (CPTPP) and advocated negotiations over the Regional Comprehensive Economic Partnership (RCEP). Both prime ministers have entrusted ministries and relevant agencies to promote the two countries' relations in a deep and pragmatic manner across different fields in addition to promoting the exchange of a roadmap for the bilateral strategic partnership and soon elevating bilateral relations as agreed upon by the two sides. At the end of the talks, the two prime ministers witnessed the signing of three important documents: an agreement between the Ministry of Industry and Trade and New Zealand's Ministry of Foreign Affairs and Trade on economic and trade cooperation, a deal between the Ministry of Industry and Trade and New Zealand's Ministry of Pri- mary Industries on cooperation in food safety and quality management, and a strategic cooperation plan between the Ministry of Education and Training and New Zealand educational agencies on education and training in 2018-2020. http://dtinews.vn/en/news/017004/55572/-vietnam---new-zealand-trade-to-reach--1-7- -2bn-by-2020.html

70 HK businesses 14/MAR/2018 INTELLASIA| VOV seeking trade ties in A group of 70 Hong Kong businesses operating in the fields of finance, education, ar- Vietnam chitecture, law, garments, electronic components, and footwear will visit Vietnam for an exchange with Vietnamese partners on March 21 in HCM City. The event will be held to coincide with a working visit to Vietnam by the Secretary for Commerce and Economic Development of Hong Kong. The exchange is seen as a gateway for HCM City businesses to set up investment cooperation ties with Hong Kong investors. Trade between Vietnam and Hong Kong has increased steadily in recent years. Up to early September 2017, Vietnam was the third largest trade partner of Hong Kong in Asean, with bilateral trade of $13 billion, a year-on-year rise of 12 percent. Over the same period, Hong Kong's exports to Vietnam reached $7.4 billion and imports from Vietnam were $5.7 billion. In terms of investment, up to March 20, 2017, Hong Kong was the sixth biggest foreign investor in Vietnam with more than 1,200 projects totally capitalised at over $17.57 billion. http://english.vov.vn/trade/70-hong-kong-businesses-seeking-trade-ties-in-vietnam- 370369.vov BUSINESSZ NEWS Business Briefs 14 14/MAR/2017 INTELLASIA | March, 2018 * Vietnam Electrical Equipment Corporation (GEX) is going to issue 53.3 million shares to pay a 2017 dividend for shareholders and increase its registered capital. This year, GEX targets to obtain VND15 trillion in revenue and nearly VND1.5 trillion in after- tax profit, up 25 percent and 13 percent against the previous year respectively. In 2017, GEX issued VND500 billion worth of inconvertible secured bonds, which had a face

Intellasia 14 March 2018 32 / 50 BUSINESS Vietnam finance& business Vietnam indexes gain ground March 13: Main Intellasia by DNP (VND1.7 billion($ by (VND1.7 DNP thelargest netsoldshareonHNX, VGC was million)), CII (VND26 billion ($1.1 million)), ($1.48 billion (VND33.7 HSG million)), ($1.8 billion (VND41 byCTD lowed On HSX, VCBwas the largestnet sold share, and million)), ($1 billion (VND23 ($194,590). On UPCoM,foreign investors bought million($17,935)), and (VND408.3 lion)), VIC(VND57.4 billion investby foreign bought The Top5shares shed and GAS PLX 1.1and 3.7, cent. 1 per In energy,NT2 gained 5.8percent, PPC 2.7 VCB closed at its opening price. 2.7, 2.1, 0.9,and0.1percent,whileEI 1.6, Most large banking shares gained: CTG, SSI, MBB, VPB, BID, STB and VCI by 6.7, 2.9, cent and TLG 0.4per cent. ing 1.9, 1 and 0.8per centwhileVCFlost Most large food and beverages shares gained ground, with VNM, TAC and KDCris- The VNIndexopened points at 1,126.53 million) onHNX. ($42.3 billion VND964.4 and million) ($259.1 trillion VND5.9 was HSX on Liquidity fell to61.25 points, down points, 248.85 the HNX30-Index On HNX, theHNX-Indexfinished at129.66 percent). (0.40 4.41points points, up 1,111.38 VN30-Index poin 1,133.31 Index closed at theVN On HSX, UPCoM-Index. ception ofthe All main indexes on Vietnam's UPCoM-Index the only loser on March 13. 14/MAR/2018 INTELLASIA| VNECONOMIC TIMES * DaiwaSecuritiesGroupIncwi stake, at Vuon Dao Ha Long Hotel JSC, before the end of the second quarter. capital. The enterprise willtransferitsen propertyinvest projectinDanangCi ina shares,offerof 31.5 million raisingover * Thanh Nam Group Company (TNI) has sold ov by surging profit, in after-tax dividend for shareholders andissuing shares for staff. Itexpects to gainVND60billion fromVND968 capital its Tradin Thao DienRealEstate Duong * An cent stake. a board member oftheenterprise, will 1. buy Viet, Hoang Pham time,to 3.6 same percent. 2.2 percent At the from ing hisownership (AAA), hasregistered tobuy * Pham Anh Duong, chair of AnPhatPlasticandGreen Environment Company value ofVNDlbillioneach. shares for existing share existing for shares kong Delta and hire foreign experts to launch will focuson southern markets suchas March 26 toseek shareholders' opinionson Company (DHT)will Pharmaceutical * HaTay 1l0.2 shares. million to 22percent,orover will the Japaneseinvestor Once completed, ties Inc(SSI) between March16andApril13. holders toraisecapital. billion to overVNDl trillion this billion tooverVNDl 0.06 points (0.09 per cent). points(0.09 0.06 74,670)), DBC (VND695.1 DBC(VND695.1 74,670)), ($2.5 million)), VNM (VND28 bi over 1.1million AAA shares 109 percent versus last year. versuslast percent 109 stock market closed higher stock market up 1.39 points (0.56 (0.56 up 1.39points per cent), whilethe UPCoM-Index ll bebuyingover22.8mill HPG (VND21.2 billion ($931,210)). (VND21.2 HPG VIT (VND297.3 million VIT (VND297.3 ($13,060)). and HDB (VND17.2 billion ($755,550)). (VND17.2 and HDB 326,129 shares worth VND4.43 billion VND4.43 worth shares 326,129 HCM City, the Central Highlands andtheMe- City,theCentral HCM Highlands points. and endedthe day at1,133.31 B, BVH and MSN lost1.3,0.9and0.2percent. andMSN B, BVH VND 15.6 billion. It will use the proceeds to the proceeds billion. Itwilluse 15.6 VND ty, pay bank debts and supplement working ty, paybankdebtsandsupplement tire tire shares, 8.49 million or an84.9percent g Investment Company (HAR) plans to plans raise (HAR) Company Investment g 1.1 per cent, BBC 0.6 per cent, DQG 0.5 per 0.5 per DQG cent, per cent, BBC0.6 1.1 per ors were VRE (VND213.6 billion ($9.38 mil- billion ($9.38 (VND213.6 ors wereVRE per cent,andPVT1.3 per cent, per while PVD, its business plans for 2018.The enterprise raise its holding atSS holding its raise with VND11.9 billion with VND11.9 points, up 0.60 points (0.47 cent)and per (0.47 points, 0.60points up 8 million AAA 8 million shares AAA a2.4per- to secure billion with VND52.7 ($2.3 million), fol- ts, up7.02 points(0.62 percent), and the new products. It alsohasplansto issue organise an annualgeneral organise meetingon er 15.6million shares out of the total million ($30,530)), NDN NDN million ($30,530)), year by paying a 2016 share 2016 paying a yearby ion shares ofSaigonSecuri- on March 13, with the ex- with theMarch 13, on from nowtoApril12, rais- llion ($1.2 million)), VJC VJC million)), ($1.2 llion I from 17.47 percent percent I from17.47 ($522,700), followed ($522,700), 14 March 2018 33 /50 14 March2018 14 BUSINESS market outlook Vietnamese stock confident in investors Foreign finance& business Vietnam Intellasia ground Nguyen The Minh, a senior analyst atSaig meaning it endthe could year somewherebetween and 1,170 1,640. year (e percentthis least17 increase byat Earlier, Rong Viet Securities also Corporation attractive. the half blue chips."Beyond Scheiber toldBloomberg that Vietnam has become but they "be value good can still presence tolook beyond the biggeststocks. Tundra Fonder, which hasresearch offices 60 percent ofitsholdings, thefigures show. cording to Bloomberg. Egyptian 6.8percent this returned has inassets, million Frontier Fund,runby Sustainable Tundra dra Fonder AB,said. tw the past over Brazil and Russia like es development, sothere isthe potential for a Countries like VietnamandPakistan are co 14/MAR/2018 INTELLASIA| THE HANOITIMES http://vneconomictimes.com/article/bankin billion VND4.95 ($48,000). They netboughton by VND184.18billi HSX getan whichboth government officials The Vietnamese economy grewby6.8 percent said. it listings, tion almost doubled tonearly $150 billion, gainer inpercentagepercenterms witha47 Bloomberg called Vietnam a "frontier market" in Asia last year, as it was the biggest 2020. account for divestment in2018 over and 50 percentofthe 46 total planned for 2017- ment ofCorporate Finance, the number of According toDangQuyetTien, director gene and Hanoi Beer Alcohol & Beverage JSC. finery inthecountry, as well as PetroVietnam OilCorp., PetroVietnam Power Corp., first quarterBinh SonRefiningand Petroche companiesare for in245 state up grab Stakes SOEs, announcing this year's plan to sell6.5timesmore shares than last year. The governmentalsoaffirmed it is dr that said. it 2019-2020, in market to crowdthe market, avoiding have earl itineraries IPO should Major SOEs tion and divestmentofStat the committee also suggested the government increasethe supplyTo stockmarket sourceforthebetter attractforeign and investors, change rate. positive generally yearis this to Vietnam The committee projected thattheoutlookfor year. st millioninVietnamese $573 of net purchase Superv Financial totheNational According from ni billion acombined $14 pulled Foreigners havebeen net buyersoftheco year," he said. in points reach1,050 Index could "The VN served. e-owned enterprises (SOEs). dozen top-valued companies,dozen top-valued othersmalleronesalsolook , Vietnamese, and Pakistani equities make almost equities up andPakistani , Vietnamese, are well-researchedand well-known." ne Asian marketstracked by Bloomberg. d economists d economists had considered ambitious. o tothree decades,JonScheiber, CEOofTun- ven 67percentunderthebest casescenario), , which will partly support the foreign ex- foreign the support partly will which , untry's shares this month, even as they sharesuntry'seven as thismonth, enterprises earmarked for equitisationandearmarked enterprises in stakes of sales accelerating amatically company salesand fueled bystate-owned catch-up effect,likewhathappened in plac- the Swedish manager that oversees$400 on Securities Incorpor on Securities the short term, and 1,300 by the end of the endof the by 1,300 term,and the short isory Committee, foreign investors madea in Karachi and HCM City, uses its local local its uses City, HCM in Karachi and g-finance/march-13-m ming off a low base in termsofeconomic The topfiveequities t gain on the VN Index. Market capitalisa- Index. Market VN onthe gain t mical Co., which operates the only oil re- the only mical Co.,whichoperates y to capitalise y tocapitalise on the growth ofthe stock s in 2018, including four scheduled in the ock markets in the firs in ock markets the on ($5 million) and netsoldonHNX by foreign indirect investment (FII) inflows ral of the Ministry ofFinance's Depart- said inareport said thatthe VN Index will year to beat 97 percent of its peers, ac- its peers, of percent yeartobeat97 in 2017, breakingit to continuously speed upthe tocontinuouslyspeed equitisa- "a bit pricey but th bit pricey "a in particular markets markets in particular s own6.7percent tar- ation, wasmore re- ain-indexes-gain- t two of months the 14 March 2018 34 /50 14 March2018 14 atis tilted tothe BUSINESS Vietnamshare market pushing for bigger continue firms Thai finance& business Vietnam in March visit13 best placesto names Hanoiamong US newswebsite Intellasia http://english.thesaigontime port. outcome of their aninevitable perts, is The increased penetration ofThaifirms intotheVietnamese market, according to ex- prominent in Vietnam. more Thaigoods made has sector retail local ofThai firms in the presence The growing the fastfood kioskchain Five Star. poultry egg and processingpork sectors and Meanwhile, Thailand's CP Grou Kim. investorandpercent a49 stake indomest Besides, Group bought theBigCsu Central Vietnam fromLafargeHolcim Group. nam-market-share.html In 2016, Siam City Cement Pu Siam CityCement In 2016, each. Sabeco lion buying shares at VND320,000 the ofVND in Vietnamwith chartered capital brewery inVietnam, latelastyear. Thai Be Beer-Alcohol-Bev stake acquisitioninSaigon a involving transaction thebiggest However, year. last exchange shares on thestock more Vinamilk no signof showed milk processor,and leading al called F&B inSingapore subsidiary A BJC Mega Market. in abidfor theMetroCash&Carrychainin nam since 2013 to operate B's Mart convenienc BJC Group,another firm,Thai hasbeen in material sectorand for theplastic export. after Province,10years in BaRia-Vung Tau aging, petrochemical and cement. It recently beganwork onapetrochemical complex expandingalso is the part ofSCG,it On anot is yet Plastic (BMP) firm BinhMinh ese NawaPlastic The justincreased of ownership 14/MAR/2018 INTELLASIA| THE SAIGON TIMES dent-in-vietnamese-s http://www.hanoitimes.vn/investment/20 goal ofexpandingbyanot The countryremainsoneofthefastestgrow riods. fl of onanalysis based compiled is The list American-based Business Insider.March by destinations for As winter's coldgriploosens onHanoi,theci 14/MAR/2018VNA INTELLASIA| st huge Thai firmstoholding the astake With of nearly 50percent in BMP, with more than700 and products, outlets 1,500 nationwide. in up itsstake resolve to Thai firm's the each, apremiumof17 percent to VND96,500 It isworth noting that theBMP shares we percent. 20.4 from percent 49.9 offered byStateCapital Investment Corporat bi $1 trillion(around VND2.3 morethan spent subsid Industries,a NawaPlastic market abigger share in Vietnam. togain ways finding are continuing tock-market-outlook/ her 6.7percentthisyear. s.vn/58744/Thai-firms-continue blic Co Ltd acquired a 65 pe 65 a acquired Ltd blic Co p p is holdingalarge market iary of Thailand's SCGthat akes inVietnameseenterprises. preparations and the Thai government's sup- theThai preparations government's and BMP, a leading plastic company aleadingplastic BMP, in Vietnam its Vietnam operationsinthree sectors pack- ic household appliances retailer Nguyen household appliancesretailer ic resold toNawaPlasticIndustries at 18/03/81E0C313/foreign-investors-confi- NawaPlastic Industries has become one of 681.6 billion but spent nearly VND110 681.6 billionbutspentnearly tril- VND110 ight tickets,weather travelpe- andpopular verage Public Co Ltd established anentity partnership withPhuThai Group of Viet- Vietnam, which was later renamed as MM MM laterrenamedas whichwas Vietnam, permarket chain in Vietnam from French a from inVietnam chain permarket ing economiesintheworldandhasset the so acquired a stake in Vinamilk, Vietnam's inVinamilk,Vietnam's astake so acquired her clearindicationth it got approval. The project willproduce approval. The it got a wide network ofretail stores, excluding ty hasbeen namedoneofthe idealtravel the March 9trading price. Thisshowed erage Corporation (Sabeco), thebiggest ion (SCIC) to raise its holding in BMP to raise itsholdinginBMP to ion (SCIC) Industries (Saraburi) Thai company so far is the 53.39 percent 53.39 sofaristhe Thai company e stores. BJCbeatCentralGroup In 2014, llion) acquiring most ofthe BMP shares stopping there as it registered tobuy rcent stake in LafargeHolcim -pushing-for-bigger-Viet- is no stranger in Vietnam, share oftheanimalfeed, CoLtd inVietnam- at Thai companies Thai at 14 March 2018 35 /50 14 March2018 14 BUSINESS Vietnam finance& business Vietnam imports secure Aussie cow on abattoir training to Vietnambig spends campaign to benamed in-VN products made- in enterprises Outstanding Intellasia visit-in-Mar/127823.vnp https://en.vietnamplus.vn/us-news-websit inthetop10destinations nam's capital TripAdvisor, the world'spopulartravelgu food. Te Britain's Daily 2017, In early money. forterms ofvalue paign-to-be-named/127782.vnp https://en.vietnamplus.vn/ using made-in-Vietnamgoods" ca mony is inpreparationfor the 10th annive cere- awards the said Department, Market Domestic Trade's and Industry of Ministry atapressSpeaking on conference inHanoi quality. business and takeadvantageofscience and andservices, ucts domestic and encourage The event, held for the first timein2014, enterprises fromacrossVietnam nominated. ance with international animal welfare stan animal international ance with ESCAS isdesigned toensurethat exported toVietnam. cattle supplying from rules (ESCAS) System Chain Assurance Supply Exporter Australia's under ity bannedAustra The department twounnamed bludgeone cattle being Australian showed Agricu of Department Australia's 2016, In welfare. toimproveanimal facilities training inabattoir invest Growing demand forAustralian on Tuesday. said Australia ly, Radio will offer three-month programmesforworker The trainingfacilitiesinso continue tosecureimportsof workers abbatoir for facilities training two Two commercial companies in Vietnam havein abuse. of animal accused cattle Aussie Exports oflive 14/MAR/2018VNEXPRESS INTELLASIA| The competition,thesecondof the"outstandi receive will The remaining services" category. namese brand title, while10others will be named in th Specifically, 10business will be awarded wi cast live on VTV1 on March 17. in-Vietnam goods" will be announc campaign enterprisesinthe outstanding Ninety-six 14/MAR/2018VNA INTELLASIA| ranked Hanoiat year, Time Last it describes as"energeticand mazelike." website adviseswanderingaround th The news canenjoycost-effective travellers Since Marchisbynature a"shoulder season el season whichoftenendsinFebruary. The capital is also quieter following the fr l winds thecold with Celsius, degrees Hanoi inMarch enjoys amild climate with uthern Vietnam, whichare set toopen within thismonth, outstanding-businesses-in-madeinvietnam-products-cam- to Vietnam were suspended in 2016 after were were in2016 abattoirs suspended toVietnam live cattle fromAustralia. cattle live its kind, was launched inOc launched was kind, its legraph listed Hanoi asoneof listed Hanoi legraph No.1on its list ofBest cattle has prompted Vietnam's processingprompted Vietnam's sectorto cattle has journeys, Business Insider says. Insider Business journeys, mpaign tobe held in2019. ong goneand the sunstartingtoshine. for 2017, users. votedfor for2017, as its by aims to honour outstanding Vietnamese prod- Vietnamese honour outstanding aimsto e "Top10businesses holdingexcellent Viet- enetic Lunar New Year holiday, a major trav- major Year holiday,a New enetic Lunar ng Vietnamese brand enterprises" award. "Vietnamese people prioritiseusingmade- lturesuspended tradeaftervideo footage e-names-hanoi-among-13-best-places-to- rsary ofthe"Vietnamesepeopleprioritise d to death inVietnameseabattoirs. Australian livestock are handled in accord- rangingfrom17-24 averagetemperatures th the "Top 10 Vietnamese product brands" "Top 10Vietnamese product th the ide and reviewwebsite,ide also namedViet- so thattheVietnamese beefindustry can March 12, Le Viet Nga, deputy head of the headofthe deputy Nga, LeViet March 12, enterprisesand toinvestinproduction dards and to provide amechanismtodeal provide to dards and " whentourismneither peaksnor troughs, technology advances to increase productadvances toincrease technology ed atanawards ceremony tobe broad- lian exporters and an unapproved facil- anunapproved lian exporters and s tolearn howtoprocesscattleproper- e Old Quarter in the city centre,anareain theOld Quartere vested millions of dollars to develop to develop dollars vested millionsof International Destinations in International Destinations tober 2017, with nearly 300 withnearly300 tober 2017, the top 10 cities for street 10 citiesforstreet the top 14 March 2018 36 /50 14 March2018 14 BUSINESS Vietnam finance& business Vietnam flights Vietnam viachartered travellers visiting More Chinese Intellasia He said that most of the aircraft serving serving aircraft the of most that said He safety. as well round positionandahighnumber in geographical es advantag- great as it as Vietnam, visit will moreChinese moreand that said Blackwell over 2016. In 2017, Vietnamreceived4 millionChinesetr their favourite destinations. abroad duringthe Ne one-week Lunar 2018 Nikkei AsianReviewcitedsour receivedChinese travellersholiday. 10,000 the during Chinese travellers also "This (China)isavastmarket. Noworries ab pable of receiving them, he said. provide hundreds Chinese aircarrierscan Some Chines carrying tens offlights airportreportersairlines,foreign servicesforthe was notsurprisedwhen mentioned Import/Export company,whichoffers Trade and Anh CEO ofNam Blackwell, Colin 2 pmand midnight. betweenmoreeven of passengersrose However, reporters the number laterfoundthat Lunar NewYear, noticed streams ofpe Reporters whovisited theairporton the morn thelocality. to travellers Chinese 12,000 holiday. According toareport, there were 30 Cam RanhAirport in Khanh Hoa province wasfu of Chinese travellers. Nha Trang, Da Nang, Cityandother HCM fa 14/MAR/2018VIETNAMNET INTELLASIA| Last year, the country importedmore than to products. toimported turn consumers local forcing forbeef, increasing demand tomeet the country's is failing industry cattle Vietnam's country complieswith ESCAS. porter of live Australian cattle, to improve its animal welfare standards to ensure the Since then Australiahas been working with cruelty. animal intoalleged vestigation suspended livestock supplies to 18abattoirs andfeedlots in Vietnam pending an in- Inte VnExpress told Embassy Australian The with animal welfare issueswhen they occur. of beef and buffalo meat, valued atmore of beefandbuffalo th meat, valued with the pace. Local supplies of beef and bu of beef with thepace. Localsupplies meat per the year inthe decade, but ca past Average consumption per capi and they're now eating more ture ministry, said Vietnamesepeople's diet Tong imports,the reasonfor Explaining shows. cure-aussie-cow-imports-3722306.html https://e.vnexpress.net/news/business/viet per kilogram, aroundthe same price as local products. andthe US Beef importedfromAustralia food safetyconcerns that haveplaguedthe Many localconsumers favour imported produc beefintheirdishes. imported markets, modern foodstores and local markets, and some restaurants are alsousing super- conditioned inair available is theUS, and from Australia beef, mainly Imported rent demand. visited many other ci many other visited beefandbuffalo meat. e travellers toCamRanhdaily. ta hasdoubledto5-6kilograms ta of beef and buffalo ces as saying that 6.5mill that ces assaying ople followingcustomsprocedures. chartered flightswereleasedfrom Vietnam's costs from VND100,000-500,000 ($4.4-22.02) costs from VND100,000-500,000 262,300 live 262,300 cattle, an nam-spends-big-on-abattoir-training-to-se- ties/provinces. Da Nang City, for example, an $410 million,offi an $410 ttle industry has been unable to keep up s have changed drastically in recent years, inrecentyears, s have drastically changed Vietnamese Vietnamese food market inrecent years. ffalo meat only meet 80 w Year holiday, was and Vietnam one of Vietnam, which is the second-largest im- second-largest Vietnam, whichisthe -40 chartered flights a day bringing 9,000- bringing day a charteredflights -40 Xuan Chinh, an official from the agricul- official fromthe an Chinh, Xuan rnational back then that Australia had thenthatAustralia rnational back out alownumber of travellers," he said. mous tourism sites are seeing aninflux avellers, a sharp increase of 48.6 percent of48.6 a sharpincrease avellers, of tourist sites with warm weather year weather year warm with sites of tourist ing of February 18, or the third day of of day 18,orthethird ofFebruary ing ts thanks to their to their ts thanks of flights and more if the airport is ca- the airportis more if flights and of ll of Chinese travellers during the Tet during travellers Chinese of ll ion Chinese people traveled d nearly 42,000tonnes cial governmentdata reasonable prices and percent of thecur- percentof 14 March 2018 37 /50 14 March2018 14 BUSINESS Vietnam finance& business Vietnam in Vietnam Peruvian grapesarrive Intellasia 380,000 tonnes, a jump fromth tonnes, a 380,000 compared to605,000 tonnesthe mo tonnes, in country'sThe Foreign AgriculturalServic ers include Crimson seedless, Flameseedless,Sugraone, and Thompson seedless. northern coast developing rapidly. The main valleys onPeru's coast, withnew areas inthe Piura and regions Lambayeque on the the country's topagricultural export. Grape grapeshave health andtheskin.Peruvian minerals, calcium, magnesium, phosphorus vietnam-via-charte Peruvian grapes have a very other types. transportation solution, as thes permarkets. Green grapesmay be import grapesarenowavailabl less blackPeruvian to perkilo,compared ($4.4) VND99,000 the chance to taste Peruvian grapes for free and enjoy a promotionalpriceof During thefestival week, visitors to anys now enjoy one offinestproductsfromPeru." Vietnam," he said. "Thisprovidesmore opti and theirfreshnessiswell-pre countryintroduced. "ThankstoPeru been have butthisisth inVietnam available already Peruvian grapes, said thatimported grapes Bui Dung,The generalmanager of the Luon Tu inthe to time inVietnam come." be introduced fruit will open the EmbassyofPeru,told of tary grapes, asourceof national pride, toVietna ernment and enterprises negotiated withVietnam forfive years tointroduce our ers after Vietnam officially allowed theirim introd officially week aimsto The festival at the LuonTuoi Sach shopat 70 Tran chain, launchedPeruvian first thefruit shop Joint StockCompany(VPD),theownerofth Vietnam, incoop in Embassy ofPeru The troduction ofthe country's grapes. week being in held festival grape Peruvian 14/MAR/2018 INTELLASIA| VNECONOMIC TIMES http://english.vietnamnet.vn/fms/business/ tothe havefound solutions lack firms travel because year this rise to expected is city the to travellers Chinese of number China also toppedthelist ofHCMCity's year. this travellers Chinese million 2 receive becomes op Ranh ofCam terminal Once thenew to be carried out at night. said theCamRanhAirport is overloaded. As Nguyen VanThanh, deputy chair ofthe joined the market. airlines, and thenumberofChinese travellers Grapes have a positiveeffect onantioxid flavor, nottoosweetgr likesomeother an grape is reasonable for Vi VND1 more than cost grapes while Japanese of Am kilo a ($13) VND300,000 the custom of Thu Trang,one cording to red-flights.html competitive price compared to price compared competitive etnamese consumers," she said, "They have anicesweet served, thoughittakes time toship them from Peru to e 300,000 tonnes in e 300,000tonnes erican grapes. Australian grap Australian erican grapes. e grapes are more easily ruined during delivery than of parking seats at the airports. the at seats ofparking Thai Tong,CauGiay district, Hanoi. apes, and their skin is less astringent." the normal VND179,000 ($7.9). Red andseed- ($7.9).Red VND179,000 normal the ers atthefestival Nha Trang Khanh Hoa Travel Association, TravelAssociation, Nha TrangKhanh Hoa 10 largest tourismmarketsin The 10largest 2017. ants, providing moistu ed soonafter thecompany identifies a uce Peruviangrapes to Vietnamese consum- eration with theVietProduct Development e estimates 2017-18 production at 638,000 at 638,000 production 2017-18 e estimates gained a reputation for good quality andare hop intheLuon Sach Tuoi chain willhave e firsttime grapes fromaLatin American ing ceremony. "I hope that Peruvian more ons to Vietnamese consumersandtheycan 196779/more-chinese-t mese people," FiorellaPolanco, First Secre- Hanoi from March 13 to 20 to mark the in- the to mark 20 to March 13 from Hanoi such as those from the USand Japan are e atLuonTuoiSachshopsandseveral su- e Luon Sach(alwaysfresh Tuoi and clean) portation inJanuary. "The Peruviangov- growing isconcentratedalong thecentral and potassium, which are all goodforthe all are which and potassium, grape festivalfrom week March 13 to20 variety produced isRedGlobe, but oth- million ($44)akilo."ThepriceofPeruvi- a result, many flig many aresult, will increase as Chinese air carriers have carriers air Chinese as increase will st recent season.Exports are forecast at 's soil, the quality of its grapes is good good is grapes its of quality the soil, 's oi Sach chain, the pioneeroi Sachchain, importerof erational, slated for April 2018, it may itmay 2018, forApril slated erational, the 2016-17 season.Export turnover the . Sheusually pays other imported grapes, ac- imported other es are at the same price, price, same at the es are risation, Vitamin B3, risation, Vitamin hts fromChina have ravellers-visiting- 14 March 2018 38 /50 14 March2018 14 BUSINESS Vietnam finance& business Vietnam interest payments grapple withhuge making projects loss- Vinachem's cutting bio-fueltax Saigon Petro proposes Intellasia Saigon Petro data shows the sales volume of the sales Saigon Petrodatashows 30 percent ofthe total. had grownmarkedly compared to the samepe Dan Triquotedasource as sa lower thanA95. litre itpossiblefo make to Saigon Petroproposed theministries consid encourage consumers to switchusingE5. gon Petro, theVND200differential betw and line to surge VND3,800 would VND4,000 14/MAR/2018 INTELLASIA| THE SAIGON TIMES tax.html http://english.thesaigontimes.vn/58733/ bio-fuel sold represents half of metersamonthprio cubic or500,000 a year, appr Assembly If National the litre ofgasoli rise toVND1,000per the Ministryplan, ofFinanc a proposed In foreachlitresold, to VND500 nance andIndustry-Trade cut theplanneden City-based HCM Petro,a Saigon 14/MAR/2018 INTELLASIA| THE SAIGON TIMES http://vneconomictimes.com/article/soci NguyenTrai,Tha 230 19A Nguyen Thi Dinh, Ca 70 Tran ThaiTong, GiayDistrict, Cau Hanoi 105 E3 Le Nghi,Thanh HaiBaTrung District, Hanoi 10 Pho Hue, HaiBa Trung District, Hanoi 2M LangHa, Dong 36A B1Ton That Tung, Hanoi Da District, Thinh, Dong 37 Thai 29A Nguyen Chi Thanh, Dong Da District, Hanoi 125 Nguyen Chi Thanh, DongDa District, Hanoi Ba DinhDistrict, Hanoi 12 SonTay, Hanoi District, Kiem Hoan Muoi, Hang 22 Luon Tuoi Sach chain: China. and Netherlands by the followed importer, largest the ing million,up $653.2 was from grapeslastyear Loss-making projects under free from the interest paymentobligation asfr The DAP-Vinachem project willhaveto pay VN bill VND275 billion, spective interest amountsoftheDAP2projec billion ne year, this itdue VND368 of lion The NinhBinhprojectisobliged topay VN trillion (or VND767 billion a year). towards isover the pay At 2020 Bacproject,thetotalloaninterest itmust VND2.3 Ha fact chemicals and fertiliser nitrogenous four belongtoVinachem,Trade, Ni namely Of the12loss-making projects the under mana projects. forfour poor-performing years Vinachem has recently pres Vinachem has gations, news website Dan Trireported. in2018-2020 an enormousfinancialburden Da District, Hanoi ion andVND272billion. nh Xuan District, Hanoi Dong DaDistrict, Hanoi r fuel traders to make the E5 price VND2,000-2,500 per the r fuel litre traders to make E5 priceVND2,000-2,500 u GiayDistrict,Hanoi ented its business developmen business its ented Vietnam National ChemicalGr Vietnam ying the sales inthe ofE5 volume thesales year to end-February ying news website DanTrireports. oves the plan, the tax on A95 tax on the plan, oves the previoussalesfigure. A92 fuel trading firm, has prop has firm, trading fuel ne andVND500per litre ofdiesel oil. Saigon-Petro-proposes-cutting-bio-fuel- ory, DAP-Vinachem ety/peruvian-grapes- een A95and E5 would be toosmall to e wants theenvironmental protectiontaxto e xt year and VND253 billion The xt year andVND253 in re- 2020. nh Binhnitrogenous fertil D1.11 trillion in interest, with VND491 bil- withVND491 D1.11 trillion ininterest, due mostly to huge interest payment obli- payment interest tohuge mostly due er loweringthetaxonE5byVND500per A92 was aroundsix was A92 2.6 per cent against 2.6percent r to 2017. Meanwhile, the amount ofthe Meanwhile, amount r the to 2017. vironmental protection taxonbio-fuel E5 t in the next three years will be VND269 thenextthreeyearswill beVND269 t in per litre respectively. According toSai- According respectively. per litre om next year. This is also the best per- best the also is This year. next om gement of theMinist riod last year butaccounted foraround D9 billion in interest this year and year and be this ininterest D9 billion t plans nextthree t plans in the oup (Vinachem)arefacing osed the Ministries ofFi- gasoline and E5bio-gaso- and DAP and DAP 2-Vinachem. arrive-in-vietnam 2016, with the US be- US the with 2016, million cubic meters million cubic ry ofIndustry and 14 March 2018 39 /50 iser plant, Ha Bac Bac Ha plant, iser 14 March2018 14 BUSINESS Vietnam finance& business Vietnam restructuring participate in SOEs' encouraged to UK's group increase to clarify investment Ministry asksFormosa Intellasia loss-making-projects-grapple-with-huge-interest-payments.html http://english.thesaigontimes.vn/58749/Vi als areapproved. Vinachem said it believed theseprojects woul billion. profit ofVND15 billion, billion,.Me VND530 down VND376 nearly VN billion, downby er, Ha Bac nitrogenousfertiliser and DAP2 Last year, thefour projects reported lowe looking forsupportto deal with loansatother banks. commercial forassistance asking Besides increase.html of Finance, thethe Ministry evant bodies, accordingtotheMPI.Specifical newcompone asa plant coal plus thechemical The increased costs,asstatedbyFormosa, is notexplained inthefiling. amount indongisreduced fr er's filing, the total capital is raised by $600million in terms of USdollar, but the ning and Investment demanded furtherclarif Form by provided details Such billion to $5 billion. coal workshop as a new component, andan $600 of additional investment of certain construction compone certificate in line with the capital increase, which it said was dueto the increased costs The Taiwanese company soughtthe ministry's cording to newswebsiteVietnamnet. clarification a poration togive The MinistryofPlan 14/MAR/2018 INTELLASIA| THE SAIGON TIMES adjusted downtothelevels applicable ra loans withannual for from 2023, As 2022. In addition, Vinachem wants interest rates offering interest for exemptions overdue loans. posed extending termsto20years, loan paying prove some proposals, includingloanrepayments. In particular, Vinachem haspro- To assist these projects, Vinachemhasrequ forming projectofVinachem as eson Group. Hanoi on Monday that he had hosted forHenr This was announced bydeputy prime minist Vietnam. part in the restructuringofState-owned ente The United Kingdom'sJardines Matheson Gr 14/MAR/2018VNS INTELLASIA| http://english.thesaigontime technology and environmentimpactofthis nent or amust-havecomponent of the dustry and Trade to identify whether thech is locatedtoworkwiththeMinistryofSc Ha of thealso urged theauthority MPI and Technology. Ministry ofNaturalResourcesandthe tion, ning andInvestment (MPI) hasaskedFormosaHaTinhSteelCor- D200 billion, VND602 billion, Ministry of Industryand Trad s.vn/58752/Ministry with loans at VietnamDevelopment Bank, Vinachem is om VND248.2 trillion to VN to trillion om VND248.2 million to an amount of $18 million spent on a chemical million spenton of $18 to anamount million of its capital hike from $11 billion to $11.6 billion, ac- billion, to$11.6 from$11 billion hike capital its of osa, however, arestillunclear, it reportedprofitlast year. ntswell asmachinery. as Formosaattributed also the to State-funded in company's steelproduction project. The Tinh Economic Zone where the steelEconomic Zonewhere complex Tinh ience and Technology and the Ministry of In- ience andTechnologytheMinistry r losses, withNinhBinh nachempercente2 percent80 percent99s- relate toexistingconstructioncomponents ested the government and ministriesested thegovernment toap- lowered, with 3 percent per yeartowards3 percentlowered, with tes above 8.55 percent, the rates should be the ratesshould percent, tes above8.55 Environment, and theMinistry of Science anwhile, the DAP-Vinachemrecorded a component should be assessed as well. assessed component shouldbe emical coal plant is anadditional compo- respectively incurring lossesof VND933 er Vuong DinhHue duri increase inthepaid-incapitalfrom$4.5 rprises (SOEs) and credit institutions in institutions credit and (SOEs) rprises ly, suchajobrequiresthe involvementof ication. Forexample,asperthesteelmak- oup canenlarge itsinvestment totake d be able to perform better if itspropos- nt, so there must be appraisals from rel- nt, sotheremustbeappraisals approval foradjustingitsinvestment y Keswich, chair of the Jardines Math- Jardines y Keswich,chair ofthe principles first and interest later, and later, and interest first principles -asks-Formosa-to-clarify-investment- D245.7 trillion. The disparity vestment projects. down VND449 billion, downVND449 and e, the Ministrye, ofConstruc- so the Ministry ofPlan- nitrogenous fertilis- 14 March 2018 40 /50 14 March2018 14 ng a reception in ng areception BUSINESS Vietnam finance& business Vietnam complaints over customer Lazada to beinspected Hue tourism complex planning ThuaThien- Korean groups Intellasia gotiated gotiated and resolved40 outof41 consumer Implementing therequirements andguidelines discounts. of advertising false as well as orders, cancelled orautomatically invoices not attaching differentbeing fromad substantially goods delivery, as such delayed and of Lazada.vn, services ofgoods tothe related quality restructuring_293129.html http://bizhub.vn/news/uks-group-en eson asthe country isamember ofmore than 10 free trade agreements. According toHue,expansioninvestme the of ucts, automobiles, construction, machinery, He asked the group topayattention todevelo practices. complex-370363.vov http://english.vov.vn/investment/korea procedures sothat these projects will work with the Korean investors to research and carry out the necessary investment in theprovince, saying thatthePeople's Co highly ofthe Koreaninvestors'ideasfor Nguyen VanCao, chair of ThuaThien-Hu Rio 2016 medal at the Vietnamese marksmanHoan biopic of for the ofaresortat Chan fortheconstruction tions The Koreaninvestors'hopesarethat initial a system of tourboats using renewa culture, andhotelcomplexatChan sports, of theKorean business delegation, Park sa At aworking session with Th MoWon,a ing toPark re toare planning invest intourism projects incentralThua Thien-Hue province, accord- The businessgroupsofKMH, 14/MAR/2018VOV INTELLASIA| ate afavourablebusinessenvironmentin c He alsosaidthe government would work said. on dealingwithweakbanksandbalancingcred SOEs that must bedivested andequitised un special public-utility services, hesaid, adding fiel in only stakes full own will State The key tasksinthecountry's economic restructuring plan. Accordingthe restructuring toHue, ofSOEs tocome. the time its develop tohelpVietnam pledged also He Vietnamese SOEs, hoping to participate in the field. At thereception, Keswichexpressed hisinte Refrigeration ElectricalEngineering Corporation. Vinamilk, 25percent ofcapitalatTruong in Vietnamformore than 20 years. The grou Jardines Mathesonisamulti- In 2017, Competit In 2017, the Vietnam servance ofthelawoncommerce and the protection of consumers' interests. tothequality related numerous complaints star The MinistryofIndustryandTradehas 14/MAR/2018VIR INTELLASIA| Olympics, said Park. presentative of KMH group. ua Thien-Hueprovincialleaders on March 12,onbehalf sectoral and groupmulti-national thathasbeen present Glostar, and OCCCompanyofthe ofKoreaRepublic ion Agency(VCA)received ble energy on ariverinHue City. couraged-to-participate-in-soes- come to fruition inthe near future. n-groups-planning-thu developing tourism and commercialactivities ds related tonational security, defence and Hai Auto Corporation and 23 per cent at the Corporationand23percentat Auto Hai to ensure macro-economicstability and cre- onformity withintern e provincial People's Committee, spoke e provincialPeople's id that Korean businesses wanttobuild a May-Lang CoEZ,andacultural houseand mmittee willauthorise relevant agencies to ted an inspection at Lazada afterreceiving ted aninspection atLazada vertisements or beingold/used, vendors the province will create favourable condi- createfavourable the provincewill real estate and finance insurance. May-Lang Co EZ,including May-Lang afilm studio of goodsandservices, focusingontheob- complaints.The oneremainingis case be- and credit institutions are two among five and creditinstitutionsaretwoamong rest inthe equitisation and divestment of capital market with hi with market capital p holds 10 per centofcharter at capital til 2020. til 2020. The governmentisalso focusing nt in Vietnam will benefit Jardinesnt inVietnamwill Math- g Xuan Vinh, winner of thehistoricgold Xuan g thatthegovernment hasissued alist of ping existing fields existing ping bythe of VCA, ne- end of Lazada 2017, it and non-credit services of banks, heservices ofbanks, non-credit it and numerous complaint letters letters complaint numerous a-thienhue-tourism- ational standards and and standards ational such asmilkprod- gh-level services in gh-level services 14 March 2018 41 /50 14 March2018 14 BUSINESS Vietnam finance& business Vietnam Intellasia Also at the end of 2016, a customer named named acustomer the endof2016, at Also Selling goods not in inventory andabandoning customers and the company madeadelibera wasveryangryand The customer claimed did notchange its decision. discussed lion ($44)discountfortheTV. He wrongly priced. Hedidnotaccept Lazada's When he complained, Lazada told him that the item was not delivered as it was had been returned to Lazada. he 19, received an email informing himthat However, the TVwas not delivered, despite repeated calls toLazada. On December formed him that the item will be delivered between December 14 and 17. successful order andpaidonline by card, ($247) million VND5.6 to price wasreduced zada. That day wasthebiggest online promot ordered a TV(model43L 43-inch LG smart na customer the endof2016a in Earlier, the promotionwas incorrect, which wastold that service and watch.Hecalled customer Lazada's aplastic-strap item was and thepackage hereceived 18, On April according todantri.com.vn. strap watch. He ordered one and receiveda Uw Watch Smart ayellow selling advertised falsead da deliberatelyused D.H.T. (from NhanChinh commune, ThanhXu Fake promotionsandwrong prices sional foraretailer. perform. The to Lazada had was done,and The customerdisagreed and saidthattheor the could the price wrongsothat not sell theitem. company was wrong. AnemployeefromLazadaexplained th Lazada suddenl afternoon, However, inthe confirmed. placed, whichLazada th hecalled and paidbycard.Then ($4.6) so and machine139 parts drill electric coly (fromDistrict N.V.Q. 2017, Earlier, inApril time,"wasting Tran my are VanTrieucomplained. They angry. and tired too growing am and weeks for waiting been I have complaints. trous, they pay do notrespect the customer is responsefromthefirm."Lazada active Meanwhile, he continued asking Lazada to ($2). and wa receivedthe customeran apology tomer policyofproviding refundsinseven quest areplacement, but the companyrefuse ba ofthefirst items thefaulty receiving Upon ceived contained some damaged items, and from Nha Trang cityordered twobatches of In the latest case,according to in ICTNews, wrongarticles,repudi the Selling Lazada keep mounting. complaints as platform the in faith well-known e-commerce platform. However, Vi Operating in thecountry since 2012, Lazada Vietnam has become a developed and According toVCA, theinspectionresults willbe announced soon. case tothecourt. haveyetto the twosides but ing negotiated, vertising to lure in customer lure vertising to te mistaketospitecustomers. constitutes as false advertising. asfalse constitutes med H.D.S. (from Nha Be district, HCM City) City) HCM district, Be Nha (from H.D.S. med paid VND207,000 ($9.1). thebonus ($9.1). However, VND207,000 paid s presented with a coupon worth VND50,000 VND50,000 worth a coupon with s presented e Lazada hotline to make sure the order was suretheorder to make hotline Lazada e ating liability, and cancelling orders and cancelling liability, ating a big company but its work ethic is is disas- ethic work its but a big company N.T.S from Thanh Xuan N.T.S from Thanh Lazada sent a confirmation email, andin- late January 2018, a customer named Trieu 2018, acustomer late January me blades at the unit price of VND104,000 atthe price ofVND104,000 me blades unit the delivery was not successful and theTV H605T) fromToanLinhElectronics on La- complaints, days afterdelivery.Afterlong confirmation email of the successful order, successful the confirmation emailof that Lazada's manage that Lazada's , theyareslow toresolve and reluctant with the general director but with the the company general director 2, HCM City) said that that he orderedtwoGi- said City) 2, HCM y cancelled his order as the price was as theprice y cancelledorder his cancellation of order ishighlyunprofes- deliver the second batch but received no from VND9.1 million ($400). He placed a Heplaceda million($400). fromVND9.1 apology alongwithanoffer ofVND1mil- der was approved by both sides, thedeal atch DZ09 atch DZ09 with acomplementary leather- pantson Lazada. The first batch he re- arrive to a solution and expect to take the the to take andexpect solution to a arrive he has yet toreceive thesecond batch. d toexchange the items, despiteitscus- tch, he called the Lazada hotline to re- ion of Lazada,thereby thattelevision's at the system was being upgraded andthe systemwasbeing at an district, Hanoi) reported that Laza- that reported Hanoi) district, an etnamese customersareslowlylosing s. On April 14, 2017, Lazada Lazada 2017, April 14, On s. ment was too weak, district, Hanoi, said said Hanoi, district, 14 March 2018 42 /50 14 March2018 14 BUSINESS Vietnam finance& business Vietnam agreement cancel acquisition MobiFone, AVG Intellasia In early 2016, MobiFoneform had changedand MobiFone was notable toconcentrateon developing AVG. pletion ofpaymenttoAVG. Healso said At themeeting, a MobiFoneleader saidtheinspectionprocess had impacted the com- MobiFone andAVG, the cancellationoftheco reputa the many problems, damaging caused Since the inspection of the contract, theprocess ofoperating theAVG brand had topaythe tions remaining 5 per cent contract value. The deadline wasover but Second, V saidsince the contra AVG brand as planned and missed many contract. First, since its ac According tothe AVG representative, there iFoneTuesday.release saidinapresson deposit ofVN450billionto AVG hasmadea Fone. ha AVG as hiringconsultants. penses, such In addition to the amountpaidtoAVG, Mobi afine andclaimcompensationimpose while cancellingthe deal. inthe V, Phm ofAVG ne Nht representative try will suffer two sides to notlettheother more damages. party willreturntheto numberofshares AVG and assets transferred.At thesame time, the AVG shareholders willrefundentire the and refund each other the amount received under the agreement. ca Accordingly,AVG agreedto MobiFoneand by million)acquisition (US$395 tariat askedthegovernment tosoon releas The decision was made several days after transfer agreement between thetwocompanies. (AVG Global timedia company Visual Audio TelecomServices Mobile Corporat Vietnam 14/MAR/2018 INTELLASIA| DTI NEWS 370324.vov http://english.vov.vn/economy/lazada-to- contact the supplierbutthey did notansw deliver thememory card,whichcame only halfamonthlater. The customer triedto amemorycard.Thenthe without supplier customer servicescontacted theHe depart er, thedelivereditem did notcontain a orderedIP Wi-Fithat he a mini camera ment.html http://dtinews.vn/en sure that punishment is givento the righ an objectiv in cases settling and reviewing the governmentThe Secretariat an that said says that this is aserious, complicated andsensitive matter. the handlingofMobiFone's acquisit VPTW on Last Thursday, thePartyCentral Committee's ate found serious violati the TTg, asking government to Inspectorate thego the At 2016, beginning ofAugust disclosed. however, werenot deal, evision network,one ofthecompany's four /news/017004/55576/mobifone--av ons intheacquisition. quisition, MobiFone hasnot anddevelopedoperated the ally announced the acquisiti ct was ineffect, MobiFone ha communicationsgiantMobiFone despite repeated requests by AVG. with a 32GB memory card on Lazada. Howev- on card Lazada. a32GBmemory with memory card, according to dantri.com.vn. memory card,to according vernment promulgated Document No 1344/ No Document vernment promulgated t person andpersont lost State assets arerevoked. amount paidbyMobiFone, whileMobiFone due to problems faced by AVG, the market by AVG,the faced due toproblems opportunities and potential ofAVG. potential and opportunities be-inspected-over-customer-complaints- the Party CentralCommittee(PCC)'s Secre- e and accurate manner under the law to en- to the law under manner e andaccurate ment, which confirmed delivering the item e theinspection resultsofaVN8.89trillion er and Lazada only kept promises. onlykept making er andLazada MobiFone had not yet of Lazada promised him of Lazada contacted toand s agreeds withMobi- tosharethisexpense d the Inspectorate mustberesponsible for ion (MobiFone)and shareholders ofmul- investigate the acquisition.Inspector-The main business areas. The details of the proceedtheagreement cancelation,Mob- are manyreasons for them tocancelthe gotiations withMobi gotiations ) on Monday decided to cancel) onMondaydecidedshare the tion ofboththeparties. to According Fone said it had to paysome related ex- ntract is aimed atsalvaging damage. isaimed the ntract ncel the transfer of ion of 95 per cent of AVG shares, which shares,cent ofAVG ion of95per Office issued official letter No 6106-CV/ No letter official issued Office g-cancel-acquisition-agree- on of AVG on ofAVG to expand itstel- d paid95 per cent of the 344.66 million 344.66 shares fulfilled its obliga- Fone,agreed notto 14 March 2018 43 /50 14 March2018 14 BUSINESS mega project invest in Vung Tau Tuan to ChauGroup finance& business Vietnam resort inSaPa chateau-inspired Resorts opensFrench Silk Path Hotels Intellasia with thoughtful designs and decor providin Suite, Duplex RoomandBungalows. Thea Suite, President Ambassador Suite, Executive Room,Junior Suites, Classic including feat over twohectares,property the Spread ly withvividdecora French chateau,reflectingtheclassyarchit mountain range, thecharming resort's de Located onthehill slope abreathtaki with come tourists toSaPa the famous tourist magnet inthenorthern provinceofLao Cai. Spa Sa Resort & The 5-starSilkPath Grand 14/MAR/2018VNS INTELLASIA| high-end commercial facilities include will the complex at services tourism addition, In guests. welcome to port boat It is expected that the investor will build apublic bathing area and aninternational overnight visitors. will beableto beach front toBaiDauand The project willbeimplemented on a land ar when it is complete," spokesperson who vestment planning in this project is not has info but denied toprovidespecific City, confirmed thatthegroupis Tuan ChauGroup Marina City" inVungTau, according to has proposed building Group Tuan Chau 14/MAR/2018 INTELLASIA| HANOI TIMES Speaking atthethe SilkPa grandopening, professionaltherapy treatments. by amassage or cold irresistible an in pampering head-to-toe their personaljourney tophysical andspirit reju created was with ChiSpa The luxury an unfamiliar yet cozyfeeling while enjo the pinnacleofIndochina's high Situated at fined Italianmenupaired withthefinestwines. prepare their meals. The Olivio, with the Napoleon-theme interior design, offers are- outside bythegarden area,venue orsit brea ual all-daydining Samu Restau the luxuryresort,guests staying in While and indulgent bedding. Every room boastsabalcony and some a large terrace. chau-group-to-invest-in- http://www.hanoitimes.vn/investment/on- districts.However, thes Can GioandCuChi grou the addition, In City. HCM 1, to district Brid Suc Ben linking of61km, alength with to proposed Group Chau year, Tuan Last erty projectsinVungTau. ties. Iftheprojectisimplementedasplanned, have tocompletetheprocedures forobtain has not The totalinvestmentoftheproject ports. beconstructedtoconne port systemwill overseas demandsfor entertainment andre ism hotspotinharmonywith The goalofthe projectistobuild a port ues. night, according Ria-Vu according to Ba ues. night, lion-sea lions,aswell asmusic-movie-fashi project will also include amusement parks and a marine circus with dolphins, seagulls, tive ethnic patterns. vung-tau-mega-project/ the natural landscape to meet the increasing local and , luxury hotels, condotel rant, they canstaywarm in ng Tau People's Committee report. People's Committee ng Tau complexandamodern multi-functionaltour- finished, we will provide more information provide will finished, we the Ba Ria-Vung Tau People`s Committee. Ria-Vung Tau the Ba accommodate about 7,500 settlers and 12,000 12,000 and settlers 7,500 about accommodate ct with domestic and international yacht international and ct with domestic ying arange ofdrinks and delicacies. wished to be anonymous, told Hanoitimes. anonymous, wished tobe can enjoy gastronomical journeys. At the cas- sign was inspired bythesplendour of a venation in mind, where guestscanbegin ecture style whichecture hasbeenblended style perfect- invest inaboulevard along Saigon River a large resort complex named "Vung Tau ng viewofthemarvelousHoangLien Son th Grand Resort & Spa Sapa's managing di- Sapa's Spa & th GrandResort on centers, fireworks, andwater music ven- been disclosedwillTuan andGroup Chau going-projects/2018/03/81E0C30C/tuan- ge (CuChi district) along the Sai Gon River ing investmentlicenseslocal authori- from ccommodation at the resort is celebrated the resortis ccommodation at pa has officially opened itsdoors towel- ures 152rooms divided into 10categories, est summit, Cafe 1500 transports guests to ual harmony. spaisa The perfect oasis for thing in the pristinething inthe breezewhilethechefs rmation onthisproject. "Currently, thein- laxation. Additionally, amodernyacht e projectshavenotbeenimplemented yet. g spacious layouts, layouts, g spacious p plans to invest in several big projects in planstoinvestin severalbigprojects p bath or a traditional herbalbathfollowed or a bath ea of 345 hectaresstretchingfromthe this will be one of the largest resortthis willbeoneof prop- preparingto invest in VungTauMarina condos, andseavillas.The side the elegantly furnished luxurious bathrooms 14 March 2018 44 /50 14 March2018 14 BUSINESS Vietnam finance& business Vietnam market Vietnam's streaming Apple Musicin Spotify challenges in Soc Trang deep seaportcomplex develop $6billion ILDC wants to Intellasia sort-in-sa-pa_293133.html http://bizhub.vn/property/si products and services," he said. resort standard ofinternational inthe delivery especially industry, in thehospitality "With the"With launching ofthisresort, luxury Resorts. collection, whichis invested andmanaged by Resort Grand Path Silk that the said also He trang-57147.html http://www.vir.com.vn/ildc-wants-to-develop-6 billion-deep-seaport-complex-in-soc- ical, urban,industrial and development. poration consists ofover 30 leading intern ofecologic and is builder a developer ILDC Sea. An and My Thanh are among the Mekong River Delta's most vital gateways to the East facing the East Sea,comprising of Dinh Itfeatures a 72 kilometre coastal stretch and 3,000km of waterways with three estuaries develo and shipping seaport tential for Compared toother locationsintheMekongRiver Delta,SocTrang possesses hugepo- partnership (PPP) projects. sistance (ODA)orexecutedinform of buil The seaportwasaddedtothe list ofprojects cut toshipproductsmade inthe region to deep-waterBesides, port thecreationofa The project is necessary to deal with the over the with The projectisnecessarytodeal domestic routes. toexploit by2026 into operation seaportcomplex ofthe the promisedtotakeILDC localauthorities. proval fromthe pleting the investmentproced The investor affirmed conduc andotherinfrastructure. area, dustrial a area, service with the towelcom seaport capacity tare have nume Notably, ILDC'scomplexwould the most feasible ofthereceived documents. vestors proposingtodevelopthe deep seapor According toChuyen,theprovince received March 12. at the working session with minister of This was announced byTranVanChuyen, Ch a $6 billion deep seaport complex in International LocalDevelopmentConsortium 14/MAR/2018VIR INTELLASIA| our guestsmemorable experience best toperfectourservice as wellastocare building andoperating, we attheSilk Pa rector Steve said:"Havingtakencarein Tan able tousers inVietnam Sweden-based music, podcast,andvideo st competitor thanits later years thantwo more inVietnam arrives Spotify 14/MAR/2018TUOITRE INTELLASIA| NEWS month, after a30-day free trial. In Vietnam, customerscanupgrade toa scriptions. features such as improved streaming quality and downloads are offered via paid sub- for areavailable features Limited songsand since Monday, initsexpans lk-path-hotels-resorts-opens- ting thesurvey, building the detailed design, andcom- ure within 18 months ofreceiving the in-principleap- s during their the Mekong Delta of the MekongDelta pment as well as waterway aswaterway pment aswell transport. Transport Nguyen Van The organised on organised Nguyen VanThe Transport An, Tran De, andMyThanh, of which Dinh premium account for VND59,000 (US$2.60) a (US$2.60) account for premium VND59,000 e 200,000dwt ships, a 1,500ha and ships,a1,500ha urban in- e 200,000dwt th Grand Resort & Spa Sapa always our always try Sapa th GrandResort& Spa d-operate-transfer (BOT) andpublic-private in the Mekong Delta would provide a short- a the MekongDeltawouldprovide in our brandwants to so for every single small every for single domestic and international destinations. international and domestic ational companieswith expertise inecolog- free withadvertisements, whileadditional reaming service Spotify has become avail- hasbecome service Spotify reaming al, urban and industrial projects. The cor- The projects. industrial and urban al, load at existing port everyprocess, step, fromthedesigningto & Spa is the debut of a 5-star ofa5-star real &Spa is thedebut estate tobe funded by officialdevelopmentas- rous components, including a 4,000-hec- a components,including rous numerous planning documents numerousplanning fromin- the brand hospitality Hotels Silk Path & air ofthe Soc Trang People's Committee t in the province. ILDC's plan is one of is one province. ILDC's plan in the t (ILDC) from Franceintendstodevelop stay with us." ion to64markets worldwide. southern Vietnam. french-chateau-inspired-re- s along the Hau River. along theHau s lidify ourreputation detail, aiming tooffer 14 March 2018 45 /50 14 March2018 14 BUSINESS Vietnam finance& business Vietnam Exerting influence Intellasia At around 9am,sevendaysa At in thecountry. and coffee achangeintheway served made is marked inVietnam arrival Starbucks' 14/MAR/2018 INTELLASIA| VNECONOMIC TIMES https://tuoitrenews.vn/new Bloomberg. anes 2at the weekofApril The Swedish company isplanningtolist and ExchangeCommission(SEC). curities subscribers,lion premium accordingtoco the m 159 million counted Spotify to be paid fortheirworks. refusing tomakeher musicav free of has beenaknownopponent Tam My streaming on Spotify. album 'Tam9,'alsobreakswith tradition Albumschartthanks ed onBillboard'sWorld in Januar who singer MyTam, pop Vietnamese which has built upanactiveuser base expects competitionfromVietname Spotify subscribers andamonthlysubscripti 2015, June in Vietnam in launched was Inc., se musicandvideostreaming Music, a Apple andNetflix. after Music Apple people, the country to95million of close another en in Vietnammarks arrival Spotify's spectively. subscriptions Monthly premium reported. Worldwide Business Music year, last gust in Au- Thailand in available became it since expansion international biggest Spotify's it The combinedpopulationofthe three countr rael. day, which also sawthe Swedish companyex Vietnam was among three countries involved Indochina Plaza Hanoi. Hanoi. While on weekdaysit Indochina Plaza vietnams-streaming Marques recalled that when the first store op first when the recalledthat Marques Patricia Marques, general ma tomers ofStarbucks." need torush. Vietnam hassuchayoungpopu ly. So, there are enormous opportunities for us tocontinue our growth without any only in big country,not such a "Vietnam is changesimple toenormous From expansion." performance and our strongbusiness proven by ceived, as our products, and, importantly, more they general manager ofStarbucks Vietnam. "N Marques, Patricia said is," it what about and curious were mostly inVietnam ing try's coffeeindustry. "Five years ago, most arrival ofStar the that said alsobe can it WhileNang. itssuccessmost recently, Da ca global iconnow boasts34stores inViet February 1markedfiveyears enjoy. that allcan environment Starbucksaround the beve world, handcrafted friends, andyoungstudentstogether gettingto enjoyhigh quality Arabicacoffee from people andsomeuniversityprofessors -market/44516.html tablished valuation ofhigher valuation tablished s/business/20180313/spotify- nager of Starbucks Vietnam. week, itcanbe hard tofind since Starbucksopened its fi ailable on such platforms and fi onsuch and platforms ailable onthly activeusers at the en in South Africa and Israel cost $5.08 and $5.78, and re- $5.78, cost$5.08 and Israel Africa in South on of $2.99 infollowing months. of sincemillions its launch in2007. bucks Coffeechangedthe dynamic of the coun- and students, on weekends it's families, nam, in HCM City, Hanoi,HaiPhong, and, shares on the NewYorkStockExchangein shares on in making her latest songsavailable for terms of population butalsogeographical- termsof ow, ourcustomers know the brand, know people were excited to seeStarbucks arriv- know ourpartners.We se music streaming service Zing MP3, MP3, Zing service streaming music se ened in February 2013, it was the only cof- the only was it ened inFebruary 2013, offering three months of free trial to new n indeedbemeasuredbystorenumbers, music streaming sites such as Zing MP3,musicas Zingsites streaming such ies is approximately lation and I know they are the future cus- knowtheyarethefuture I and lation trance by a global streaming service into service streaming global trance bya mpany's recentF-1fili panding its reach to South Africa and Is- South Africa to panding itsreach rvice developedbyUStech giant Apple to flying-colorssalesofher ninthstudio in Spotify'smarket expansion onMon- s clienteleis pred rages, andgreat foodinanunparalleled y becameVietnam'sfirs than $20million,accordingto than challenges-apple-music-in- a vacant seat at Starbucks Starbucks seat at a vacant d of 2017, including71mil- d of2017, rst flagship store, andthe ghting for artists' rights ominantly business- 160 million,making have been well re- ng withthe Se- US 14 March 2018 46 /50 14 March2018 14 t artist to be list- to t artist BUSINESS Vietnam finance& business Vietnam Intellasia was announced. and customers bothrejoiced when the news intereof themoreone world is be the same, because thecoffee crop is even better." Introducing Da Lat coffee to the in DaLatbecome so popular,"shesaidwith th that customersloved happy we werevery launch first the "After brand. Lat the Da shesaid. Starbuck totheworld," Lat coffee Arabica because there is demand, andI think muchmoreintere how every year."I see Lat cause Robusta dominated. Shenow sees the po of international brandsinVietnamandon coupleMarquesweretherefrom January5. remembered only thatin2013 out Vietnam coffeeisagai limited-quantity The partners. earlythisyearan whichhasreturned 2016, the Starbucks Reserve VietnamDaLatwhole-be The biggestchangethatmade allStarbucks' bers. andthis tomers future in the Therearemany family." and friends with laxed place for customers that canbe used to comfortable,"of"This shesaid. isalsoone "The store is unique in every locationbut st not justaboutproducts; it's alsoabout ch innovating, tobring freshness andadegree vide convenience for customers when bu tomer needs. Theyhavetriedhardtogain Another change that has made Starbuckssu making customers'favouritecoffee everyday." Marques said. "They are the ones bringing the Starbucks experience tocustomers, Competitions. "To me, Starbu encouraging Champions, and supportingthem barista as aswell knowledge for coffee butSt routines and tasks theirdaily learned g and learnina well I'm trained where for four years from the beginning, toldVET: IndochinaPlaza One at Starbucks partner when partners not only remember their namebut also their favourite drink. would neither understand nor acceptit. To weretomer, manytrainees skeptical about cus- right the to went drink theright sure cups, make on to it the writing names and Marques remembered, when trainees were as abaristaandthen along-termca establish providinglengthy andongoing, achoicefor partnersis its develops Starbucks The way take the that and Starbucks practice as Now, though,Marquescanrightlypointoutth them tothe office or to school, whichwas the waitin ing fortheirdrinks at counter, Other changes have been more subtle, like of howthingsarechanging,"shetoldVET. then recognised there was aneed toservecust to have atraditionalTetholidayandspendti believednew year,becauseshe thather partne for 24hours, from noonofthe last dayofth fee shopthatstayed open during Tet (the is one ofitsstrength inbo cks would notbe here toda sting features of Starbucks' Starbucks' of features sting -away side ofthe business is growing. ood working environment." Theynotonly skills, promoting Coffee Masters and Barista Barista and Coffee Masters promoting skills, of Starbucks Reserve Vietnam Da Lat in 2016, 2016, in Da Lat Reserve Vietnam of Starbucks LunarNew Year). The store wasonly closed g until they are prepared, they g until and then taking are prepared, angesenvironment. instoredesignthe and ying coffee. The brand neverceases ying coffee.The new ideas Starbucks plans to bring tocus- a presence inlocalneighbourhoods a topro- almost unheard of in Vietnam back then.back almost unheardofinVietnam thedomestic side, no one had Arabica be- d been widelywelcomed by customers and Hanoi who has been working for the store has beenworkingforthe Hanoi who the practice of customers ordering and pay- customers orderingand of the practice the strengths ofStarbucks, providingare- day, though,customersare often surprised s has worked with farmers in introducing alsodifferent. Tr ill aStarbucks space, such a system and told her thatcustomers partners feel proud partners andexcitedwaswhen feel n available in all Starbucks storesthrough- inallStarbucks n available being instructed on taking customers' beingtaking instructed on e oldyeartonoon on the first dayof the arbucks puts behindarbucks plentyofresources puts of excitement tocustomers.Innovationis many young Vietnamese to start workingstart many youngVietnameseto ccessful in Vietnam is how it meets cus- evidentpride. "We expectthisyearwill me withtheir families.Othercoffee shops st there is from farmers about turning to turning st thereisfromfarmersabout e coffee and it made thename of Cau Dat of this loved coffee's arrival to Vietnam "HavingatStarbucks ajob is aprivilege, reer attheorganisation. Five years ago, study, hold business meetings, or meet omers duringTet. "That is alittlesample it's agreat toshowcaseDa opportunity tential ofArabicavisitsshe because Da at almost all coffee chains use the same the same coffeechainsuse all at almost rs (asStarbuckscall for local and international Barista an coffee was first introduced in early inearly introduced first was an coffee lstering return customer num- journey inVietnam.Partners y withoutourpartners," aining programmes are aining programmes where customers feel where customers their staff)needed 14 March 2018 47 /50 14 March2018 14 BUSINESS Vietnam finance& business Vietnam pipelines ruptures River Da water terms declaredin Jail Intellasia http://english.vietnamnet.vn/fms/bus tas, ready to prepare your favourite drink over andover again," shesaid. just around thenext corner youwillfind our customers,sothat wherever youhappentobe in the countryyou will know that a this long in "We areinterested making Marques is looking forward to the next five young population andI know theyare opportunities for us to continue our growth only intermsofpopulationbut Of course, thebrand will also continue togrow. "Vietnam issuch a big country, not board. is That my plan forthenext few years." closely withthecommunity to developasyst treatm for no organisedsystem Vietnam, but next majoreffort will be focusedon supporting something on working is Vietnam Starbucks school students, toname just a few. lives of children bydevelopingliteracysk of lives Lat and supporting Room to Read's literacy been involved inmany social responsibilit cial responsibility. Over the 12 months' probation was given to BuiMinh was given12 months' probation the consultantan former deputy headof River watersupplyproject) andNguyenBi Meanwhile, HoangQuocThong(formerofficial months. jailed for16 was agement board) Truong Tran Hien (former head of the ma supply project). tion, andformer chief of the consultant and monitoringat team the DaRiver water Water, Sanitation and EnvironmentJSC (VIW Do Fiber ReinforcedPipe JSC),and Polyester sion, former workshop foreman, andformer ment and construction project), Vu Thanh deputy director of the managementboard of A sentence20-month imprisonment washand Pipe JSC). and TranCaoBang(former directorofthe sy the ment boardof water supply Da River A 24-month jail termwas given toHoang Th quences inaccordancewith Arti They were charged with violating regulati week. more thanone in the 18successive ruptures of the DaRiver water pipelines following the trial lasting declaredPeople's CourtonMarch13 The Hanoi 14/MAR/2018 INTELLASIA| DTI NEWS its innovationinqualityand cons She added that over the next few years it tomers," she said. "I believe this iswhatmakes usdifferent." building great stores, providingexcellent se made Starbuckssounique: consistency. "We and competefor market share. Marques, howev Starbucks elevated market standardsandwa fee-restaurant business andbetween intern mium coffee house. The competition is quite Five years ispleased on, Starbucks to have Consistent inVietnam past five years, Starbucks' also geographically," shesaid.enormousarethere "So, cle the 229, Criminal Code1999. istency. It willalsocontinue iness/196752/exerting-influence.html the future customers of Starbucks." d monitoring team) got 16 months' probation. d monitoring team)got16months' and wonderfuljourney, for our partners and a Starbucks, with our wonderful local baris- will continuetowork hard andnever cease ills and the habit of of habit the and ills Vinaconex GlassFiber Reinforced Polyester terials andequipment division oftheman- y efforts, includingpaintingschoolsinDa ons on construction,conse- ons causingserious Hai (former head of the production divi- programme, which seeks totransformthe programme, which ational and local brands. Thearrival of staked out as staked out a presence inVietnam a pre- en Hung(former official of VIWASE, stem investment and construction project)construction stem investment and without need to rush. Vietnam has such a need torush.Vietnam has without rvice, and customising coffee forour cus- years. Ithas been aninteresting journey. the DaRiver water supply system invest- are consistent in introducingnewflavors, deputy director of Quan (Deputy director Quan (Deputy of theequipment ent," she explained. "I hope we can work we can "I hope ent," sheexplained. em for recycling plastics,paperand card- e Trung (former director ofthemanage-(former e Trung Dinh Tri (former official of the Vietnam DinhTri(formerofficialofthe new. Marques disclosed toVET that her s when many othersdecidedtoinvest intense thesedays, especially inthe cof- ASE) under the Ministry ofConstruc- under the ASE) ed down on Nguyen VanKhai(former recycling. "There is a lot ofrecyclingin of VIWASE,formeroverseeratthe Da er, seesone keydifferentiator thathas jail termstoninedefendants involved managers andpartnershave reading amongprimary itssterling effortsinso- the Vinaconex Glass 14 March 2018 48 /50 14 March2018 14 BUSINESS Vietnam finance& business Vietnam Intellasia Nguyen VanDuong, chair ofhigh-tech secu fo Nam, Sao Phan include duo arrested The been arrested afew daysago. of the Ministry ofPublic Ng thatinvolved ring gambling lion-dollar Nguyen Thanh Hoa,formerchiefofthe cybe lion) so far and suspectthatafurther $3 trans-national gambling arearou The investigation found that there CNC. by game usingcardsissued to online gambling. They set upasystem businesses andimportin been operatingtech ed for involvementsince August 2017. The This operationwasbasedinPhuThoprovince terminds behind ring. a hugegambling The investigationagency has line the under gambling million-dollar Two technologyofficersfromVTCOnlinean Intellasia| VIR 14/Mar/2018 Tech bosses ofmulti million- lines-ruptures.html http://dtinews.vn/en ceedings againsttheseven abovementioned persons. On December 14, 2017 the Supreme People's Procuracy overturned thecriminalpro- projectthe investmentcompetence and format. Pi Fiber ReinforcedPolyester Vinaconex Glass the ruptur cause not change ofmaterialdid Mi Construction However, inspectorsofthe and nothad enough capacity to carry out the work. produce and supply pipelines tothe project also allegedlyassignedthe Glas Vinaconex had notveri they reinforced composite when to change the decided pipeline They allegedly division ofVinaconex). ment rector of the projectmanagement board), andNguyen Duc Luu (headof the invest- Dinh Chamand To Ngoc Thanh (members of of theboarddirectorsandgeneraldire Phi ThaiBinh(ChairoftheVinaconex boar charge ofviolatingconstruction regulations criminal Security alsolaunched Public the police theinvestigation, agency During of thepipelineconstruction. by violationsinthepipeline production c 2015 15, on April conclusion The inspection households hours. 177,000 in of386 Hanoi for atotal The broken pipelines halted thesupplyofmo broken lines. of thepipelinesystem to spend more than brokenwere for18times,forcingSupplycompany the VinaconexWateroperator the toOctober From February4,2012 2016, 2, Corporation 2009. (Vinaconex), toApril was built from 2004 supply project, invested by According tothe indictment of the Supreme People's Procuracy, the DaRiver water River watersupplyproject). construction and business company under the VIWASE, former overseer at the Da /news/017004/55577/-jail-terms-de site. The police has seized more than VND1 trillion ($44 mil- ($44 trillion than VND1 more seized Thepolice site. has Security's High-Technology Depa the Vietnam Construction andImport-Export Joint Stock dollar gambling ring arresteddollar gamblingring arrested twotechnologyoffice proceedings against seven persons for the for proceedings againstsevenpersons wings of former C50 director wings offormer general.C50 process andthemanagement monitoring .6 has beenmillion transferred overseas. ctor ofVinaconex), Hoang Hop Thuong, Vu 23 23 fiberglass-reinforced compositepipelines where players canbet money via anonline 16.6 billion VND (732,000 USD) USD) 16.6billion (732,000 to fixthe VND d of directors), NguyenVanTuan(member underand VTC Online, andformer chairof s Fiber Reinforced Polyester Pipe JSCto local police said that Nam and Duong had had and Duong that Nam said police local forinvestigation under theMinistryof uyen ThanhHoa, former director general nd eightmillion frequent users on this causingseriousconsequences. Theywere rity developmentco es, andthe assignment ofthework to the nistry said on September 30, 2016 thatthe 2016 30, nistry saidon September when thefirm had justbeen established fied the effectiveness of the change. They r-crime unit, had failed to shut down the down toshut failed had unit, r-crime d CNCwere arrested forrunningamulti g technical devices be g technicaldevices onfirmed that the rupt onfirmed that the the board ofdirectors), LaiVanBich (Di- re than 1.74million watercu.m. of to materialfrom ductile iron to fiberglass- pe JSC was in line with the accused' s the inline accused' with pe JSC was and nearly 70peoplehavebeenarrest- andnearly clared-in-da-river-water-pipe- rtment (C50), who hasjust rs for runningamulti mil- mpany CNC,themas- fore theyswitched 14 March 2018 49 /50 ures were ures caused 14 March2018 14 BUSINESS Vietnam finance& business Vietnam events Association 2018 World Technopolis Binh Duong to host Intellasia End association-2018-events http://vneconomictimes.com/article/busine valid foreignpr and 3,075 billion enterpri domestic now has31,548 The province gr ever. Exports rate cent; itshighest Last yearthe province's Gross Regional Domestic Product(GRDP)grew at 9.15per tributing orcapital purchasing ing projects adding $141.5 million to regist newprojec 31 FDI, including of million worth In the first twomonthsof this year it cont capital. investment tal ofaround registered capital withtotal City, Binh Duong ranks second nationwideinte world,"around the KangByung Joo, Secretary general oftheWTA,toldceremony. 105 members, including cities, research institutes, anduniversities from 47 nations to become for BinhDuong "It ismeaningful Korea's Daejeon city. IDC and the Far Eastern Groupfor project ex eign investors inthefirst phase as well The province also granted investment certificates at the ceremony to 18 local andfor- of become amember ing (MoU)signingceremony onMarch12,as the 2018GlobalInnovat Hi-tech Fairand Associati World Technopolis The southern provinceofBinhDuong announc a seriesofeven host to Southern province 14/MAR/2018 INTELLASIA| VNECONOMIC TIMES 57153.html http://www.vir.com.vn/tech-bosses-of-multi million-dollar-gambling-ring-arrested- dens ispunishable with up According toArticle249 of the PenalCode, He wassuspended in late 2017 for his involvement inthecrime ring. ye generalafter long C50 from2009, ofthe instead and it, discovering after syndicate velopment," said Lee Taek Ku,directorge saidLeeTaek velopment," the advancementnecting andte ofscience Daejeon Metropolit which wasestablishedby "I amvery honored to welcome BinhDuong ci mony. Thanh Liem, Chair ofthe Provincial People andturnthe overcome obstacles city into "Membership oftheWTAand the construction of the association. to 10yearsofimprisonment. on (WTA) in Octoberthe 11th WTA general Assembly & inOctoberthe11thWTAgeneralon (WTA) Assembly shares totalling million. shares totalling $59.6 ojects worth some $29billion. ew percentto billion. 17.6 $28.5 as alandlease agreement between Becamex ion Forumat a memorandumofunderstand- neral ofPlanningand inued to attract investors,bringing toattract in $435 inued ts during ts during topush October investment. up a modern, area,"Tran sustainable urban chnology withregional innovationforde- ars ofworking inthe economic unit. crime offered his protection. Hoa was director ered capital, and 18 foreign investors con- rms ofFDI attraction, behind onlyHCM ss/binh-duong-to-host- organising gambling or running gambling 's Committee, told the MoU signing cere- signing the MoU told 's Committee, an officialmemberoftheWTA,whichhas $29 billion, or 9.5 per cent ofVietnam'sto- pansion at the Bau Ba Bau pansion atthe its capital,BinhDuong ts with capital of $233 of ts withcapital an City in 1998 with the purposeofcon- with in1998 an City ses with registered ses withregistered ty anofficialmember as of WTA, the ed that it will hos forcesto bedriving will a smart city Coordination inSouth t two events of the t twoeventsof capital of nearly $11 capital world-technopolis- ng Industrial Park. ng Industrial .9 million, 13 exist- million,13 .9 14 March 2018 50 /50 city,hasrecently 14 March2018 14