Finance & Business News 29 December

finance & business news 29 December

FINANCE ...... 1 Main indexes finish in positive territory 25 Reference exchange rate down 1 dong 1 Foreign funds rushing end of the year stock transactions 26 Foreign currency may reversely flow due to US interest rate hike 1 What can be expected from banks that list in 2018? 27 Central bank extends forex loan policy 3 Employers receive trillions VND via ESOP 28 Credit growth reaches 16.96pct as of December 20 3 Despite healthy performance, foreign funds divest MWG 29 NIM of banks hard to increase in 2018 4 Vietnam plans to raise $289 million through IPO in power firm 30 Association proposes housing stimulus package 5 Genco 3 confirms IPO date in February 2018 31 Bank stocks keep market afloat 5 State-owned rubber giant not looking for foreign strategic Banks push VN Index to new 10-year high 6 investors 31 Finance-banking stocks to become new craze in 2018 7 VRG equitisation plan given green light 32 2017 insurance revenue at $4.6bn 7 Local airlines transport 94 million passengers this year 33 Kienlongbank, JCB to develop card services 8 New Year holiday to see 3,000 additional flights 33 HDBank becomes the 8th bank listed on HoSE 8 International tourists contribute half of tourism revenue 34 Vietnam surpasses 2017 GDP target aided by global strength 8 Vietnam receives record 13 million foreign visitors 35 Vietnam's consumer price index in December up 0.21pct 9 Website developers make up nearly three-fourths of IT workforce 36 ODA report: debts heaped on debts 10 Value of smuggled goods surges 36 VNA selects 10 outstanding economic events 11 Nghe An Province promotes Vinh orange brand 37 FDI capital heading for technology sector 12 Hanoi supports local firms to access new technologies 37 Agricultural export turnover exceeds $36.3 billion 13 HCM City prepares goods for Tet goods worth $789 million 37 Auto firms still at odds over import conditions 13 Mekong flower farmers prepare for Tet 38 Over 7,000 digital coin mining machines imported into More upgraded train carriages for Tet services 39 HCM City in 2017 14 Vietnam seen as significant growth market for MHI 39 Vietnam's December crude oil output falls 12.1 pct y/y to First online freight solution begins in VN 40 1.09 million T 15 Vietnam's largest rooftop solar power system put into operation 40 A PPP law must address thorny BOT issues 15 Toyota Vietnam recalls over 8,000 Corolla cars 41 New regulations issued over operation of SCIC 16 Thaco's first BMW and MINI cars shipped 41 Ben Tre sees investments up ten-fold 17 FPT builds tower in HN 41 Hanoi targets 10pct growth in rural industry in 2018 17 Vietsovpetro eyes 4 million tonnes of oil in 2018 42 Hai Phong calls FDI for four key transportation projects 18 Gridlock and smog deter future My Dinh residents 42 Shoe industry gears up to go hi-tech 18 Apax Franklin Academy opens in Hanoi and HCM City 44 2017- A good year for paper industry 19 Vietjet launches biggest ever promotion 45 Intense competition awaits in 2018: real-estate experts 20 Coffee, tea or bikini? VietJet stands by racy calendar in Vietnam's top 50 brands hit $11,279 billion 20 face of criticism 46 Foreign takeovers stir brand loss concerns 21 Outcomes of Vietnam Private Sector Forum announced 47 Vietnamese firms urged to focus more on intangible assets 23 Conference enhances understanding of brand value 47 HCM City firms step up investment in supporting industries 24 Seminar discusses supply chains for safe farm produce 47 VN, Russia sign deal on autos 24 Vinh orange fair opens in Nghe An 48 BIZ NEWS...... 25 Business Briefs 29 December, 2017 25 FINANCE FINANCE Reference exchange 29/DEC/2017 INTELLASIA| TIN TUC rate down 1 dong The State Bank of Vietnam (SBV) set the daily reference dong/US dollar exchange rate for December 29 at 22,425 dong/US dollar, down one dong from the previous day. With the current trading band of +/- 3 percent, the ceiling rate applied to commercial banks during the day is 23,088 dong/US dollar and the floor rate is 21,752 dong/US dollar. The opening hour rates at major commercial banks remained stable. Both Vietcombank and Vietinbank listed the buying rate at 22,675 dong/US dollar and the selling rate at 22,745 dong/US dolllar, unchanged from December 28. BIDV also kept the greenback unchanged compared to December 28, trading at 22,680 dong/US dollar (buying) and 22,750 dong/US dollar (selling)

Intellasia Tel: +844 2213 2244 No. 21, lane 173/63/17, Ngoc Ha Ward, Ba Dinh Dist, Hanoi Fax: +844 3759 2034 © All Rights Reserved Email: [email protected] Websites: www.Intellasia.Net www.TriTueAChau.com Vietnam finance & business 29 December

Foreign currency may 29/DEC/2017 INTELLASIA| BAO DAU TU reversely flow due to Not only deciding to raise basic interest rate by 0.25 percent, the U.S Federal Reserve US interest rate hike (Fed) also said it will continue increasing the rate three times in 2018. In the context that US dollar deposit rate in Vietnam still remains at zero percent, where will foreign currency flow to? *Basic interest rates in US dollar will continue rising Right after Fed announces to raise basic interest rate of the US dollar by 1.25-1.5 percent, the central exchange rate is adjusted quite strongly, reaching 22,433 dong/US dollar in December 22 after many stable sessions. Meanwhile, so far, the exchange rate at commercial banks and on the free market is stable compared to one month ago and continues declining trend from the beginning of the year. It can be seen that Fed's decision in the immediate future does not have much influence on the domestic exchange rate situation. Dr Can Van Luc, finance and banking expert said Fed's interest rate hike is entirely not

FINANCE a surprise. Financial expert Huynh Trung Minh also said the market and businesses have foreseen Fed's interest rate hike and carefully calculated. Therefore, Fed's decision may influence on dong but the impact will not be large. According to financial experts, in 2017 as well as in 2018, Vietnam's foreign currency is rather abundant. The latest figure from the State Bank of Vietnam (SBV) shows that Vietnam's foreign exchange reserve has reached $46 billion, the highest level ever. Meanwhile, according to World Bank's data, remittances to Vietnam this year have increased about 16 percent from 2016, the highest growth within the last five years, and are estimated to reach $13.8 billion compared to $11.5 billion in 2016. Besides, the State Bank still shows a steady attitude in the anti-dollarisation roadmap of the economy. The government is also preparing to issue, and approve the strategy on limitation of the dollarisation in the near future. However, it is impossible to be sub- jective with Fed's 3-fold interest rate increase roadmap in the coming year, especially for businesses using US dollar capital. *Pressure on exchange rate In a recently released report, experts of ANZ said with the strong support from remittances and trade surplus, the State Bank of Vietnam (SBV) commits to be active in stabilising exchange rate. However, the dong/US dollar exchange rate will slightly increase in the coming years, reaching $22,900 dong/US dollar at the end of 2018 and 23,000 dong/US dollar in June 2019. Dr Bui Quang Tin, Lecturer of Hochiminh City Banking University also said the exchange rate pressure at the end of the year is difficult to be avoided due to increased payment demand of import and export businesses. "Interest rates in the market 1 are likely to continue remaining stable in the last months of the year, thereby positively in- fluencing on exchange rate. However, Fed's continued increase in interest rate in the following year will put certain pressure on exchange rate in the near future", said Dr Tin. In Vietnam, the deposit rate ceiling in US dollar is still zero percent per year and basically, monetary policies have not had much change since Fed's interest rate policy fluc- tuates clearly. This leads to concerns that the flow of foreign currency may reverse. Along with that, a worth concerning reality has started to appear in 2016 i.e. for the first time, remittances to Vietnam decline at the end of the year and do not meet expectations. The main reason is the US dollar interest rate has become more attractive. The recently released report namely "Record of international real estate operations in the US in 2017" shows that from April 2016 to March 2017, foreigners have spent $153 billion to purchase 284,455 properties in the US, up 49 percent from the same period last year, of which, the amount spent by Vietnamese people reckoned for two percent, equal to $3.06 billion. Therefore, many people say that the State Bank needs to study to have policy to attract more US dollar as resources for the economic development of the country. Financial experts also recommended that the State Bank should continue maintaining zero percent interest rate policy until Fed raises interest rate in the near future. At that time, the

Intellasia 29 December 2017 2 / 49 Vietnam finance & business 29 December

State Bank should consider raising deposit rates in US dollar to maintain foreign currency resources. A leader of the State Bank said over the last period, the domestic monetary and foreign currency markets have basically stabilised and the hoarding of foreign currency decreases. Many people have shifted from US dollar to dong to save. In 2017 alone, the State Bank purchases an additional of $8 billion. The capital mobilisation by foreign currency now accounts for only 12 percent of the total capital mobilisation while in 2010-2015, this proportion reaches as much as 19-22 percent. Therefore, the State Bank still consistently keeps US dollar deposit rate at zero percent.

Central bank extends 29/DEC/2017 INTELLASIA| VNS forex loan policy The State Bank of Vietnam (SBV) has officially extended a policy allowing exporters to take loans in foreign currencies for another year instead of stopping it on December 31 as planned.

FINANCE According to Circular 18/2017/TT-NHNN issued on Wednesday, which will take effect from January 1 to December 31, 2018, commercial banks can provide short-term loans in foreign currencies to export firms that need funds for production and have turno- vers in foreign currencies. After receiving such loans, the exporters must immediately sell the amount of foreign currency borrowed to the lending institutions, using the spot forex trading method, except in cases where the foreign currency will be used to make payments. According to the central bank, it decided to extend the policy to help local exporters increase their competitiveness and boost exports since their businesses and production still face difficulties. This is also among the government's incentive policies aimed at supporting and developing local enterprises until 2020, which was approved in Decree 35/NQ-CP, issued in May 2016. Thanks to this policy, exporters have the opportunity to borrow foreign currencies at low interest rates. Currently, lending interest rates for short-term US dollar loans are roughly 2.5-4 per cent, while the rate for short-term dong loans is some 7-9 per cent. Previously, experts and enterprises had requested the central bank to extend the policy. Financial and banking expert Nguyen Tri Hieu said the extension is necessary to avoid the country's exports operating at a disadvantage. He believes that the extension will not affect the government's anti-dollarisation policy as the nation's foreign exchange is relatively stable. Moreover, the banks' disbursement of foreign currency loans is in dong, not the greenback. Echoing Hieu, expert Can Van Luc said the government should pursue the anti-dollarisation policy but should not do so at all costs. It should fight against dollarisation but should still create favourable conditions to support firms, especially exporters, he added. SBV deputy governor Dao Minh Tu said it is only a short-term policy. In the long run, the central bank will discontinue the policy, and firms must gradually shift from borrowing to buying and selling foreign currencies. He said although some exporters should be given priority so they can take advantage of the policy, others whose turnover in foreign currencies is modest should not continue to enjoy it as this has proven to be unfair. To avoid having unqualified firms take advantage of the policy, Hieu suggested that the central bank fine-tune the regulation. For example, only firms with at least 50 per cent turnover in a foreign currency could be allowed to seek foreign-currency loans. http://bizhub.vn/banking/central-bank-extends-forex-loan-policy_291049.html

Credit growth reaches 29/DEC/2017 INTELLASIA| NDH 16.96pct as of Under the report of the General Statistical Office (GSO) on December 27, the Gross Do- December 20 mestic Product (GDP) in 2017 is estimated to improve 6.81 percent from 2016. The growth of service sector (7.44 percent) contributes 2.87 percentage points to this increase.

Intellasia 29 December 2017 3 / 49 Vietnam finance & business 29 December

The growth of the finance, banking and insurance sector swells 8.14 percent, contributing 0.46 percentage points; the real estate business improves 4.07 percent, contributing 0.21 percentage points. This is the highest growth rate in seven recent years. In the banking sector, the credit growth is higher than the previous year. The capital mobilisation grows more slowly but the liquidity of the banking system is still stable. Specifically, as of December 20, the total money supply hiked 14.19 percent from the end of 2016, compared to 16.47 percent in the same period last year. The capital mobilisation of credit organisations soared 14.5 percent compared to 16.88 percent in the same period of 2016. The credit growth of the economy as of December 20 reached 16.96 percent, a bit higher than the same period of 16.46 percent. The credit structure continues focusing on priority production and business sectors, key large projects under the government's policy in order to effectively support the economic growth. Deposit rates in the year are relatively stable. Deposit rates in dong popularly ranged between 0.8-1 percent/annum for non-term and less than one month deposits; 4.3-5.4 FINANCE percent/annum for deposits from one month to less than six months; 5.3 percent/annum-6.5 percent/annum for deposits from six months to less than 12 months; and 6.5 percent-7.3 percent/annum for terms of more than 12 months. Popular lending rates of priority sectors are 6-6.5 percent/annum for short term, 9-10 percent/annum for medium and long terms. Lending rates for normal production and business sectors are 6.8-9 percent/annum for short term; 9.3 percent-11 percent/annum for medium and long terms. The insurance market in 2017 maintains positive growth. This has been the fourth con- secutive year the insurance sector grows more than 20 percent. The insurance revenue in the entire market is estimated to reach 105.6 trillion dong, up 21.2 percent from the previous year, of which, revenue of life insurance premium hits 65 trillion dong, up 28.9 percent; the revenue of life insurance premium touches 40.6 trillion dong, up 10.6 percent. The total assets of insurance businesses are estimated to reach 302.9 trillion dong, up 23.4 percent from 2016. Insurance businesses reinvested in the economy about 247.8 trillion dong, up 26.74 percent. The total amount of money that insurers pay for insurance in 2017 touched 29.4 trillion dong, up 14.9 percent from 2016.

NIM of banks hard to 29/DEC/2017 INTELLASIA| BIZLIVE increase in 2018 *Credit grows about 18 percent in 2018 In the recently released report about the prospect of the banking sector, Vietcombank Securities Company (VCBS) forecasts that 2018 credit growth will be 18 percent. Ac- cording to VCBS's assessment, this is still a good growth rate and has positive impact on business result of the entire banking sector. Accordingly, the major driver mainly comes from the scale of a widen economy, which leads to greater consumption demand. The demand for individual credit, mainly consumer credit, continues to increase sharply (the total consumer oustanding loans as of the end of November 2017 is estimated to increase about 59 percent from the end of 2016). At the same time, the capital absorption ability of businesses has significantly increased compared to the previous years, especially the annual growth of small and medium businesses (the number of newly established businesses in the first 11 months of 2017 reached 116,000 units, up 14 percent from the same period last year). On the other hand, the resources for credit are also significantly supported. Positive changes in the bad debt settlement process have created expectation for the freezing of the capital flow, helping banks have more resources to strengthen credit. Besides, many typical support policies such as raising the maximum proportion of short-term capita for medium and long term loans from 40 percent to 45 percent from January 1, 2018 will help banks have more flexibility in providing credit. Meanwhile, Dr Truong Van Phuoc, acting Chair of the National Financial Supervisory Commission (NFSC) said in the next few years, if credit in Vietnam increases 18-20 per-

Intellasia 29 December 2017 4 / 49 Vietnam finance & business 29 December

cent, assuming the current world economy, there will not have much pressure on the macro stability because for Vietnam, capital resources for investment is still an important factor for economic growth. "The objective of stabilising the macro economy is important. However, this year, we should focus on enhancing production and business, strongly improving investment environment on the basis of stabilising macro economy and controlling inflation", said Phuoc. *Stable interest rate, NIM of banks is difficult to improve In the first half of 2018, VCBS said the deposit rates will be maintained thanks to many supporting factors such as stable exchange rate thanks to high foreign currency; tightly controlled inflation; and positive changes in the bad debt settlement process which will help clear the capital resource and reduce capital mobilisation cost for banks. However, experts also said that the pressure on increased deposit rates will return in the second half of the year. Specifically, in 2018, Fed may raise interest rate by 3-4 times, thereby putting pressure on interest rate in dong. FINANCE Besides, the second half of the year is also the time when banks strengthen credit operation with the Loan to Deposit Ratio (LDR) of the system to be rather high at 86.75 percent, and many banks will have to readjust the interest rate margin to adapt to the market. Accordingly, VCBS said the Net Interest Margin (NIM) of the system is difficult to be improved in 2018. The reason is lending rates will be maintained at low level to boost economic growth while interest rate competition will be more intense in the second half of the year when the system furthers credit. In addition, banks also need to improve capital structure to meet safety ratios in ac- cordance with regulations of Circular No.06 (the maximum proportion of short-term capital for medium and long term loans is 45 percent).

Association proposes 29/DEC/2017 INTELLASIA| VNS housing stimulus HCM City Real Estate Association has proposed the State Bank of Vietnam should package raise a stimulus package similar to its previous VND30 trillion (US$1.3 billion) preferential home loan package. The package should aim to provide preferential loans for the purchase of affordable apartments, with prices of around VND1 billion per unit. Since the VND30 trillion housing stimulus package ended in 2016, no similar packages were released, while demand remained high, the association said. The association said a sum of VND1 trillion out of VND2 trillion, allocated to the Viet- nam Bank for Social Policies to support social housing projects, should be transferred to four credit institutionsVietcombank, Vietinbank, Agribank and BIDVto provide preferential loans for social housing purchases. In addition, the State budget should spend some VND1-2 trillion annually in the 2018- 20 period to provide loans for affordable home purchases at the preferential interest rate of 4.8 per cent per year. The association also proposed mechanisms to be put in place to ensure the preferential lending package is used for the right purposes. Further, preferential credits should also be provided to social housing developers to lower housing prices. The VND30 trillion housing stimulus package was introduced in 2013 when the real estate market faced high inventories and bad debts after the 2008-09 freeze. Some 70 per cent of the package was provided to home buyers at preferential interest rates. The package helped more than 56,000 low-income earners to own homes. http://bizhub.vn/property/association-proposes-housing-stimulus- package_291041.html

Bank stocks keep 29/DEC/2017 INTELLASIA| THE SAIGONTIMES market afloat Selling pressure built up on December 27 as the VN Index rose to its previous peak of 970 points but a number of bank stocks stayed strong, propping up the market.

Intellasia 29 December 2017 5 / 49 Vietnam finance & business 29 December

The Hochiminh Stock Exchange (HOSE) index extended its winning streak for a fourth straight session, gaining a slight 2.53 points, or 0.26 percent, from the day earlier at 968.46 points. Turnover on the HCM City bourse remained strong as volume and value increased 26.8 percent and 12.4 percent to 235.8 million shares and VND5.9 trillion, including 58 million shares worth nearly VND1.6 trillion traded in the put-through market. For bank stocks, VCB added 2.1 percent at VND52,500 per share. STB took the lead by volume with more than 18 million shares traded, followed by MBB with over seven million shares changing hands. Some large-cap stocks made positive moves, with dairy giant VNM adding 1 percent at VND205,000 per share, gas group GAS gaining 1.3 percent at VND98,800 a share and steelmaker HPG jumping 3.4 percent at VND45,400. In contrast, beverage firm SAB kept sliding 1.87 percent at VND252,200. Most stocks in the real estate sector such as HQC, OGC and ITA slipped. FLC was the second most actively traded stock with 14.2 million shares traded, inching up a mere FINANCE 0.14 percent at VND6,960 per share. On the Hanoi market, lender ACB drove the HNX-Index up 1.33 percent at 115.58. There were 56.4 million shares worth VND971.7 billion changing hands, up 3 percent and 10 percent against the previous session respectively. Thanks to the high demand, ACB leapt 5.2 percent to close at VND36,500 a share with matching volume of 6.6 million shares. Another bank, SHB, took the lead by liquidity with 9.7 million shares transacted, advancing 1.1 percent at VND9,200 per share. For property stocks, VCG increased 2.8 percent at VND21,400 a share and HUT advanced 0.9 percent at VND10,800. Meanwhile, oil and gas stocks came under profit taking pressure with PVC, PVS and PVB closing down. Foreign investors net bought nearly VND458.8 billion of shares on the HCM City market. They focused on shares of steelmaker HPG with a net buying value of VND81.1 billion, followed by VIC with VND72.9 billion and VCB with VND27.8 billion. On the northern exchange, they net purchased VND6.4 billion of SHB shares and VND5.1 billion of VGC shares while net selling VND1.38 billion of shares of plastic firm NTP, resulting in a net buying value of VND12.4 billion. http://english.thesaigontimes.vn/57754/Bank-stocks-keep-market-afloat.html

Banks push VN Index 29/DEC/2017 INTELLASIA| VNS to new 10-year high Vietnam's benchmark VN Index rose to a 10-year high yesterday, boosted by financial stocks that are expected to deliver positive earnings reports for the past quarter and the whole year. The benchmark index on the HCM Stock Exchange added 0.85 per cent to close at 976.72 points its highest level since January 2008. The benchmark index has also totalled a five-straight-day growth of 3.24 per cent. On the Hanoi Stock Exchange, the HNX Index advanced 0.72 per cent to end at 116.41 points. The northern market index has made up a four-day gain of 3 per cent. More than 211.2 million shares were traded on the two exchanges, worth VND5.3 trillion (US$235.7 million). The stock market was dominated by gaining stocks, which outnumbered losers by 270 to 203, while 126 other stocks ended flat. Banking and brokerage sectors were among the five best-performing industries on the Vietnamese stock market yesterday. According to Bao Viet Securities Company (BVSC), the two sector indices gained 2.58 per cent and 2.36 per cent, respectively. Nine of the 10 bank stocks made gains. The strongest growth rates were seen in Viet- inbank (CTG), Vietcombank (VCB), Eximbank (EIB) and MBBank (MBB). The four bank stocks rose between 2.2 per cent and 4.1 per cent. High investor expectations for listed banks to release positive quarterly earnings reports was the main reason driving the banking sector up after maximum credit growth for 2017 was forecast by the central bank to be 18-19 per cent, KIS Vietnam Securities

Intellasia 29 December 2017 6 / 49 Vietnam finance & business 29 December

Company (KIS) said in a report. The banking sector was also supported by the news that Bac A Commercial Joint Stock Bank (Bac A Bank) started trading its 500 million shares on the Unlisted Public Com- pany Market (UPCoM) under code BAB at a starting price of VND20,000 per share the same day. Bac A Bank's share price soared 15 per cent to close yesterday at VND23,000 per share. In the first three quarters of the year, the bank recorded VND482 billion in pre-tax profit, a year-on-year increase of 25 per cent. Brokerage and insurance-finance firms also performed well, driven up by Bao Viet Holdings (BVH), Vietnam National Reinsurance Corporation (VNR), VNDirect Secu- rities (VND), BIDV Securities (BSI) and Sai Gon-Hanoi Securities (SHS). Yesterday's increase proved that investors remained upbeat on the higher-than-expected economic growth rate of 6.81 per cent published by the General Statistical Of- fice on Wednesday along with optimistic forecasts for 2018, KIS said. "That is the main factor that will drag the market valuation down, thereby relieving the FINANCE current high valuation pressure," KIS said, adding that the VN Index would move to the next short-term target of 780-785 points. http://bizhub.vn/markets/banks-push-vn-index-to-new-10-year-high_291054.html

Finance-banking 29/DEC/2017 INTELLASIA| VIR stocks to become new A recent survey conducted by Vietnam Report revealed that finance and banking craze in 2018 stocks would be the ones to watch out for in 2018 as a number of reputable financial institutions (FIs) schedule to hold their initial public offering (IPO) next year. In early 2018, Ho Chi Minh Development Bank (HDBank) planned to hold their IPO on the HCM City Stock Exchange (HoSE). Nguyen Thi Phuong Thao, permanent vice chairwoman of the Board of directors (BOD) of HDBank, asserted that the bank accomplished a steady annual average growth rate (AAGR) of 30 per cent over the past decade. She added that the bank expected to maintain the AARG at 25 per cent in 2017-2020. Another bank to watch in 2018 is TPBank (ticker TPB) which scheduled to list on HoSE before the second quarter of 2018. Earlier, the bank's shareholders approved the plan to raise the charter capital by the separate issuance of up to 87.6 million shares, said Do Minh Phu, TPBank's chair of the BOD. Currently, the TPB stock on the over-the-counter market (OTC) is priced at VND26,000 ($1.1). Phu added that the bank expected to achieve a revenue of VND1.2 trillion ($52.96 million) in 2017. Additionally, members of the BOD at Orient Commercial Bank (OCB) highlighted the bank's intention of organising its IPO on HoSE in late 2018 or in early 2019. The estimated profit of OCB in 2017 mount up to VND1 trillion ($44.1 million), which exceeded the annual target by VND780 billion ($34.3 million). OCB is the first Vietnam-based bank to successfully apply Basel II The list of FIs expecting to list on HoSE goes on, including Vietnam International Bank (VIB) and Techcombank. Additionally, there are several other institutions planning to list shares on UPCoM, such as BacA Bank and VietBank. The most recent survey conducted by Vietnam Report displayed finance-banking stocks' investment prospects. Specifically, over 45 per cent of respondents elected finance-banking as the stock group most worthy of investment and as the most profitable in 2018, following by real estate-construction with 29.2 per cent and consumption goods with 20.8 per cent. Vo Tri Thanh, former deputy director of the Central Institute for Economic Manage- ment (CIEM), pointed out that bank stocks would most likely attract buyers and investors in 2018 due to more effective non-performing loan handling solutions as well as the upcoming application of Basel II to the entire banking system. http://www.vir.com.vn/finance-banking-stocks-to-become-new-craze-in-2018.html

Intellasia 29 December 2017 7 / 49 Vietnam finance & business 29 December

2017 insurance 29/DEC/2017 INTELLASIA| VN ECONOMIC TIMES revenue at $4.6bn Figure up 21.2 percent for the year. Total revenue in Vietnam's insurance sector was estimated at VND105.6 trillion ($4.6 billion) in 2017, an increase of 21.2 per cent against 2016, according to the Insurance Su- pervisory Authority (ISA) at the Ministry of Finance (MoF). Premiums for non-life insurance totalled VND40.6 trillion ($1.8 billion), up 10.6 per cent over 2016, while life insurance premiums rose 28.9 per cent to VND65 trillion ($2.8 billion). Insurance companies invested an estimated VND247.8 trillion ($8.3 billion) back into the economy, an increase of 26.74 per cent against 2016. Total assets were estimated at VND302.9 trillion ($10.9 billion), up 23.4 per cent, while payouts were VND29.4 trillion ($1.2 billion), up 14.9 per cent. According to the ISA, total revenue for 2018 is to reach VND129.2 trillion ($1.3 billion), an increase of 22.38 per cent against 2017. Total assets are to stand at VND370.8 trillion ($16.3 billion) and investment into the economy will reach VND305.5 trillion ($13.4 bil-

FINANCE lion). With a stable economic outlook, the insurance sector should strive to maintain growth of more than 20 per cent next year, deputy minister of Finance Tran Xuan Ha told a recent conference. He suggested that the ISA soon carry out a project on applying information technology in insurance management, accelerating the development of the sector's general data, and then develop a common database on the insurance business and insurance risk in order to determine appropriate premiums. Some insurers have said that the Ministry should detail the profit targets of the insurance industry in 2018, which customers can take as a measure when assessing a particular insurer. Many insurers announce growth in revenue but still incur losses. http://vneconomictimes.com/article/banking-finance/2017-insurance-revenue-at-4- 6bn

Kienlongbank, JCB to 29/DEC/2017 INTELLASIA| VNS develop card services Kien Long Commercial Joint Stock Bank (Kienlongbank) has become an official member of JCB International after signing a cooperation agreement with JCB International Credit Card Co Ltd Under the agreement, Kienlongbank will be licensed to issue JCB international credit and debit cards, as well as link with legal entities accepting JCB card payments. Kienlongbank JCB cardholders will be eligible to participate in loyalty programmes and enjoy special discounts offered by partners of Kienlongbank and JCB. The two sides will cooperate to develop and complete credit card services and diversify financial and banking products, thereby increasing and consolidating their market share. Vo Van Chau, general director of Kienlongbank, said one of the key activities of the bank's business development strategy is to continually diversify card products, expand transaction channels and bring more value-added benefits to customers. http://bizhub.vn/banking/kienlongbank-jcb-to-develop-card-services_291035.html

HDBank becomes the 29/DEC/2017 INTELLASIA| NDH 8th bank listed on The Hochiminh city Stock Exchange (HoSE) has recently approved the listing of nearly HoSE 981 million shares of Hochiminh city Commercial Joint Stock Bank (HDBank). HDBank will be officially listed on the HoSE with code HDB and become the 8th bank on the HoSE. In mid-December, HDBank successfully completed the sale of 20 percent stake after issuing additional shares to foreign partners at 32,000 dong per share. At this price, it is estimated that HDBank's market capitalisation will reach over 31.360 trillion dong, larger than Sacombank's, the eighth largest bank on the three exchanges. As of September 30th 2017, the total assets of HDBank increased by 16.2 percent, reaching 174.594 trillion dong. The bank's mobilisation grew by over 14 percent, reaching 118.116 trillion dong. Closing the first three quarters of the year, the lending to custom-

Intellasia 29 December 2017 8 / 49 Vietnam finance & business 29 December

ers of HDBank was 96.612 trillion dong, up by 17.4 percent. The bank's after-tax profit was nearly 825 billion dong in the third quarter and 1.538 trillion dong in the first nine months of the year. HDBank expects to achieve pre-tax profit of about 2.4 trillion dong in 2017, over two times higher than what was recorded in 2016.

Vietnam surpasses 29/DEC/2017 INTELLASIA| VNS 2017 GDP target aided Vietnam is expected to achieve Gross Domestic Product (GDP) growth of 6.81 per cent by global strength this year, surpassing the government's target of 6.7 per cent. General director of the General Statistical Office (GSO) Nguyen Bich Lam announced information at a press conference in Hanoi yesterday to report on the socio-economic indexes in 2017.The country's quarterly GDP growth figures were 5.15 per cent in Q1, 6.28 per cent in Q2, 7.46 per cent in Q3, and 7.65 per cent in Q4. The agro-forestry-fisheries sector, industry, construction and services sectors were the main contributors to the cumulative GDP growth rate.

FINANCE The agro-forestry-fishery sector is expected to increase by 2.9 per cent, contributing 0.4 percentage points to the 6.81 per cent GDP growth. The industrial and construction sector posted an 8 per cent growth rate, contributing 2.77 percentage points whilst the service industry climbed by 7.44 per cent, contributing 2.87 percentage points. Lam said the economic results were achieved thanks to concerted efforts by the government, ministries and sectors, adding that Vietnam's socio-economic affairs this year were boosted by the steady recovery and growth of major economies such as China, the US, Japan, the Republic of Korea (RoK) and the European Union (EU). The World Bank has forecast that global GDP growth will stand at 3 per cent, while the Interna- tional Monetary Fund (IMF) anticipated growth of 3.6 per cent this year. Global trade activities also witnessed improvements. In September 2017, the World Trade Organisation (WTO) increased its annual forecast for global trade to 3.6 per cent, higher than the previous level of 2.4 per cent and much higher than the growth of 1.3 per cent in 2016. "These are active factors for domestic production since Vietnam has been integrating more extensively and intensively into the world's economy," Lam said. Vietnam recorded high credit growth, abundant remittances and foreign direct investment (FDI), stable exchange rate and increasing foreign exchange reserves, he said. The country continued focusing on economic restructuring to increase competitiveness, improve the business environment and promote start-ups. However, the country faced certain difficulties, such as a strong reduction in farm produce and food prices, which had negative impacts on livestock breeding, while natural disasters and diseases wreaked havoc in many localities, he added. According to the GSO, the economy in 2017 was worth VND5 quadrillion (US$223 billion) and the average GDP per capita is estimated at VND53.5 million ($2,385), up $170 compared to the 2016 rate. Exports of goods and services increased by 16.74 per cent while imports of goods and services rose by 17.5 per cent. On the business front, the registration of 126,859 new enterprises with a total capital of nearly VND1.3 quadrillion marked a year-on-year increase of 15.2 per cent in number and 45.4 per cent in capital. In addition, nearly 26,448 businesses resumed operations, a year-on-year decrease of 0.9 per cent. Inflation under control Vu Thi Thu Thuy, director of the Price Statistics Department, said inflation was below the target of 4 per cent set by the National Assembly. The consumer price index (CPI) in December rose by 0.21 per cent from the previous month and by 2.6 per cent over the corresponding time last year. The average CPI this year was up 3.53 per cent compared with the same period of 2016. In December, eight of 11 commodity groups recorded increases, with medicines and healthcare services seeing the sharpest hike with 2.55 per cent, followed by transportation services at 0.84 per cent. Some other commodities with increases of below 1 per cent were housing and con-

Intellasia 29 December 2017 9 / 49 Vietnam finance & business 29 December

struction materials (0.22 per cent), culture, entertainment and tourism services (0.03 per cent) and beverage and tobacco (0.17 per cent). Two groups seeing decreases included food and restaurant services and post and tel- ecommunications, down 0.08 per cent and 0.04 per cent respectively. http://bizhub.vn/news/viet-nam-surpasses-2017-gdp-target-aided-by-global- strength_291033.html

Vietnam's consumer 29/DEC/2017 INTELLASIA| DTI NEWS price index in The consumer price index (CPI) in December increased by 0.21 percent from the pre- December up 0.21pct vious month, according to the General Statistical Office (GSO). Average inflation in 2017 was 3.53 percent, below the National Assembly's target of 4 percent. In December, medicine and healthcare costs posted the largest increase at 2.55 percent, while transport costs rose by 0.84 percent.

FINANCE Clothes and footwear climbed 0.43 percent as a result of rising demand in winter, while utility costs and building materials rose 0.22 percent due to hikes in the price of gas, water and electricity. On the contrary, food and catering services fell by 0.23 percent and telecommunica- tions services dropped by a slight 0.03 percent. Education costs remained unchanged from the previous month. The gold price index in December declined 0.12 percent against November but increased by an average of 3.71 percent compared with 2016. Meanwhile the US dollar also rose by 1.4 percent from the previous year. http://dtinews.vn/en/news/017004/54498/vietnam-s-consumer-price-index-in-december-up-0-21-.html

ODA report: debts 29/DEC/2017 INTELLASIA| VIETNAMNET heaped on debts The Ministry of Planning and Investment (MPI) has been asked to explain to the Na- tional Assembly why ODA (official development assistance) loans have reached a total of VND600 trillion, twice as much as the amount approved by the NA. The amount is the total sum of capital Vietnam has signed to borrow, but a part of it has not been disbursed and will be taken into account for the next period, according to MPI. However, Dang Dinh Dao, an economist, said agencies signed ODA contracts when they had not analysed the projects thoroughly. It is alarming that agencies try to borrow as much more ODA capital as possible, viewing this as a great achievement, he said. Affirming that ODA capital is not non-refundable aid, Dao said MPI has to report in detail which projects Vietnam has borrowed capital for, which localities have capital allocated, and if the projects have been programmed for medium- and long-term development. MPI also has to explain how the borrowed capital has been used and the efficiency of capital use. "It is necessary to assess the efficiency of ODA capital use in every specific project. Though ODA plays a very important role in the national economy, we sometimes have to say 'no' if the projects are ineffective and place a big burden on the nation," Dao said. "So, the next step we have to do after MPI explains the amount of VND600 trillion of ODA loans is to check all the projects which have been using and will use ODA capital," he said. Dao went on to emphasize that it is necessary to clarify the responsibilities of the state management agencies on the borrowing of capital. "The agency now must come forward and take responsibility for its plan," he said. Dinh Son Hung, former deputy head of the HCM City Research Institute for Develop- ment, said it is necessary to clarify the amount of ODA loans which are double the allowed level. There are several things Hung believes MPI has to do. First, it has to explain why Vi-

Intellasia 29 December 2017 10 / 49 Vietnam finance & business 29 December

etnam needs a loan of up to VND600 trillion, and if the borrowing is necessary and how the loans will be used. Second, Hung believes that the NA should ask MPI to make public which projects the capital has been used for. "I can see that ODA capital has not been used effectively," he said. In the latest news, the Ministry of Finance has become the only body that manages public debt in Vietnam. http://english.vietnamnet.vn/fms/business/192770/oda-report--debts-heaped-on- debts.html

VNA selects 10 29/DEC/2017 INTELLASIA| VNA outstanding economic The Vietnam News Agency (VNA) has selected 10 outstanding economic events of Vi- events etnam in 2017 as follows: 1. All 13 socio-economic targets fulfilled

FINANCE Illustrative image (Source: VNA) For the first time in years, Vietnam completed and surpassed all 13 socio-economic targets set by the National Assembly. The macro-economy was stable, inflation was under control, while the State budget collection and major economic indicators met requirements. The country's gross domestic product (GDP) expanded by 6.81 percent the highest level since 2011while its export revenue reached 213.77 billion USD, up 21.1 percent from the previous year. Vietnam attracted almost 36 billion USD in foreign direct investment (FDI), welcomed around 13 million international tourists and saw over 120,000 new businesses. 2. Apec 2017: Promoting regional cooperation, enhancing Vietnam's position With theme "Creating new dynamism, fostering a shared future", Apec Vietnam Year 2017 was a comprehensive success in both bilateral and multilateral aspects. Major ori- entations were mapped out to propel economic cooperation in Asia-Pacific forward and further deepen collaborative relations between Vietnam and other Apec member economies as well as enhance the country's role and position in the global arena. 3. Resolution defining the private economic sector's important role promulgated On June 3, 2017, general Secretary of the Communist Party of Vietnam Central Com- mittee Nguyen Phu Trong signed into effect Resolution 10-NQ/TW on developing the private economic sector into an important driving force of the socialist-oriented market economy. On October 3, 2017, the government issued Resolution 98/NQ-CP prom- ulgating the government's action programme to carry out Resolution 10-NQ/TW. Accordingly, the State will remove all barriers and prejudice, create favourable conditions for the private economic sector to develop in a healthy, effective and sustainable manner. Vietnam aims to have at least 1 million businesses by 2020, over 1.5 million by 2025, and at least 2 million by 2030. The private economic sector is expected to contribute about 50 percent, 55 percent and 60-65 percent to the country's gross domestic product (GDP) in 2020, 2025 and 2030, respectively. 4. Supplementing legal foundations for banking system restructuring At its third and fourth sessions, the National Assembly approved Resolution 42/2017/ QH14 on piloting bad debt settlement and the Law on Amendments and Supplements to Some Articles of the Law on Credit Institutions, which contain articles on guaran- teed assets and bankruptcy. These are important legal foundations for Vietnam to eliminate badly-performing banks and gradually restructure credit institutions. 5. Removing barriers and improving business environment In 2017, barriers in the business environment were gradually eliminated in many sectors, at different levels and in different spheres. In September, the Ministry of Industry and Trade decided to remove 675 business conditions, accounting for 55.5 percent of the total conditions. This is the largest number of conditions cut by the ministry so far, resulting in similar moves by other ministries and agencies. Thanks to the country's efforts to improve the business climate, the World Economic Forum (WEF)'s Global Competitiveness Report 2017-2018 ranked Vietnam 55th out of 137 economies, up five places from 2016. Vietnam also ranked fourth in Asean in terms of favourable business

Intellasia 29 December 2017 11 / 49 Vietnam finance & business 29 December

environment. 6. Many complicated corruption, negative cases handled In 2017, a number of serious, complicated economic and corruption cases were strictly handled, such as the Oceanbank case involving Ha Van Tham and his 50 accomplices and the case of Chau Thi Thu Nga and her nine accomplices occurred at Housing Group, the dismissal of Dinh La Thang from the Politburo and suspension of his NA deputy status, legal proceedings against and arrest of Thang, investigating wrongdo- ings relating to many leaders of the Vietnam Oil and Gas Group, forcing organisations and individuals involved to bear responsibility before the law. Handling high-ranking officials, incumbent or retired, demonstrated there is no "prohibited zone" in the fight against corruption, and affirmed the determination of the whole political system and society to combat corruption and negative phenomena. 7. Some BOT transport projects become hot issue In 2017, shortcomings in some build-operate-transfer (BOT) transport projects attracted public attention, despite the fact that the policy of developing transport infrastruc- FINANCE ture in the BOT form is a right move and many BOT projects contributed to improving transport infrastructure and fostering socio-economic development in some localities. At some BOT toll stations, many drivers and local residents objected to paying fees, causing traffic jams, and forcing investors to allow vehicles to pass through the booths without fee collection. prime minister Nguyen Xuan Phuc urged responsible agencies to strictly address the problems and legal violations while revising inappropriate procedures. 8. Disasters cause serious losses In 2017, Vietnam was hit by 16 storms which caused great losses in human and asset (375 dead and missing, 636 injured and material damage of nearly 51.6 trillion VND (2.27 billion USD)). Storm Damrey, the strongest storm hitting Vietnam in years, sud- denly landed in the south central coast of Vietnam, leaving 107 people dead, 16 unac- counted for, 342 injured and damaging 165,000 houses. The Ministry of Agriculture and Rural Development estimated that the storm caused economic losses of about 22 trillion VND (nearly 1 billion USD). 9. Stock market sets several records Vietnam's stock market recorded numerous important milestones in 2017. The VN In- dex reached a decade-high of 970 points on December 4, a rise of 46 percent as compared to the figure at the end of 2016, while stock market capitalisation hit 3.36 quadrillion VND (around 148 billion USD), equivalent to 74.6 percent of the nation's gross domestic product (GDP). The year 2017 witnessed the strongest-ever trading by foreign investors, with total net purchase value reaching nearly 26 trillion VND (1.14 billion USD). On August 10, the derivatives market was officially launched at the Ha- noi Stock Exchange, marking a milestone in the development of Vietnam's securities market. In particular, the divestment of State capital from listed major firms such as Vinamilk and Sabeco has helped increase the Vietnamese stock market's attractiveness to domestic and foreign investors. 10. Work starts on first Vietnamese automobile manufacturing complex On September 2, prime minister Nguyen Xuan Phuc and leaders of several ministries and Vingroup started construction of the first Vietnamese automobile manufacturing complex, VINFAST, in Dinh Vu-Cat Hai economic zone. The birth of VINFAST officially brings Vietnam into the list of automobile manufacturers in the world. https://en.vietnamplus.vn/vna-selects-10-outstanding-economic-events/124040.vnp

FDI capital heading 29/DEC/2017 INTELLASIA| VIETNAMNET for technology sector Boeing's partner and strategic supplier Huneed Technologies has expressed its will- ingness to build a factory to make electrical wires for aircraft in HCM City. LG Display has decided to pour an additional $1.1 billion to expand the factory in Hai Phong. The plans were shown last month. Eugene Kim, president of Huneed Technologies, talked about the installation of an electrical wire production line after he made a fact-finding trip to the HCM City Hi-

Intellasia 29 December 2017 12 / 49 Vietnam finance & business 29 December

tech Park (SHTP). Kim said his company was attending a competition on supplying components to Boe- ing and if it wins, it will set up a production base in SHTP. According to SHTP's head of the board of management Le Hoai Quoc, FDI attraction to the hi-tech park is satisfactory with 130 projects having been licensed in the last 15 years, capitalised at $7 billion. Of these, 10 leading technology companies including Microsoft, Nidec, Jabil, Nipro and Samsung make high-added value products at their factories there. Samsung alone has invested $2 billion in making household-use electrical appliances. It has established an R&D centre with capital of hundreds of millions of dollars. Sherry Boger, CEO of Intel Products Vietnam, said that the factory in Vietnam manu- factures a wide range of products, including SOC (system on chip) which requires complex technology. The products made at the factories all bear the 'made in Vietnam' label on the world market. Experts say that HCM City has great advantages in attracting FDI to the technology FINANCE sector thanks to its position as a leading economic centre in Vietnam and the high- quality labour force. In addition, the city is attracting different sources to develop hi-tech projects and build a smart city in the 2017-2020 period. Vietnam has attracted more technology, electronics and smartphone manufacturers who are coming to set up production bases and make products for export thanks to the advantageous position and competitive production costs. Chinhphu.vn reported that LG Display Vietnam Hai Phong was inaugurated on De- cember 4. The $1.5 billion project will manufacture OLED screens for mobile devices such as smartphones, smart watches and tablets. Bosch has announced that it will invest 58 million euros more in its operational factory in Dong Nai province, raising its total investment capital to 321 million euros. Peter Tyroller from Bosch said the production expansion aims to satisfy increased demand from automobile manufacturers in Asia-Pacific and North America. Also in Dong Nai province, Schaeffler Group inaugurated a 55 million euro factory in Amata IZ earlier this month. Of electronics conglomerates, Samsung is the biggest investor with committed capital of $17 billion. Its export turnover is expected to reach $50 billion this year. http://english.vietnamnet.vn/fms/science-it/192553/fdi-capital-heading-for-technology-sector.html

Agricultural export 29/DEC/2017 INTELLASIA| SGGP NEWS turnover exceeds $36.3 The Ministry of Agriculture and Rural Development yesterday said that the agricul- billion tural industry obtained a big win this year with export value reaching $36.37 billion, a year-on-year increase of 13 percent. In December alone, agricultural, forestry and seafood exports were estimated to hit $3.13 billion. Rice export volume reached $2.66 billion in 2017, up 22.4 percent in volume and 23.2 percent in value compared in 2016. Rubber export hit 1.39 million tonnes and $2.26 billion, increasing 11 percent in volume and 35.6 percent in value. Vegetable and fruit export value was as high as $3.45 billion, up 40.5 percent compared to 2016. http://sggpnews.org.vn/business/agricultural-export-turnover-exceeds-363 billion- 71905.html

Auto firms still at 29/DEC/2017 INTELLASIA| THE SAIGON TIMES odds over import Major players in the auto industry are still at odds over new conditions on auto im- conditions ports though such rules will take effect in the next couple of days. Some auto firms and the auto association have written to the government, with two major firms upholding the new rules as fair and workable while most others are skep- tical to Decree 116/2017/ND-CP on manufacture, assembly and import of autos. The

Intellasia 29 December 2017 13 / 49 Vietnam finance & business 29 December

new rules also set conditions on auto warranty and maintenance services that shall come into force from January 1, 2018. The decree stipulates that auto importers must have a written certificate or document proving that they are authorised to represent foreign auto manufacturers or assemblers to recall imported autos with defects. When granted an import license, importers must maintain business conditions and assure their fulfillment of liabilities involving warranty, maintenance and recall of imported autos in line with the decree. The Vietnam Automobile Manufacturers Association (VAMA) said the decree will kill small and unauthorised importers, and has written to the prime minister and ministries asking for amendment. VAMA said it will be time-consuming and costly for importers to obtain such certificates from foreign automakers, as well as warranty and maintenance certificates issued by Vietnam Register. In a document sent to minister and Chair of the government Office Mai Tien Dung in mid-December, VAMA proposed delaying Decree 116 by at least six months. FINANCE VAMA also proposed scrapping the regulation that requires auto importers to provide the scanned copies of the quality certificates for their imported autos issued by com- petent authorities in exporting countries. Besides, a regulation requiring that auto importers must have an auto test road with a minimum length of 400 meters before April 17, 2019 is also hard to meet. However, some other domestic auto manufacturers and assemblers support the decree, saying that it will protect consumers and domestic automakers, thus developing the domestic auto industry. Truong Hai Auto Corporation (Thaco) as the biggest player on the domestic market said regulations in Decree 116 are practical and workable. According to Thaco, quality certificates will protect consumers by preventing the import of substandard autos while gas emission inspections for each auto shipment will help protect the environment. In a document sent to the prime minister, Thanh Cong Group JSC also echoed the point, reaffirming its support for the decree whose strict regulations on auto manufacture, assembly, import and maintenance services would ensure fair competition between importers and domestic automakers. http://english.thesaigontimes.vn/57740/Auto-firms-still-at-odds-over-import-conditions.html

Over 7,000 digital coin 29/DEC/2017 INTELLASIA| TUOITRE NEWS mining machines The machines are designed to efficiently solve complex puzzles to 'mine' digital cur- imported into HCM rencies City in 2017 Over 7,000 cryptocurrency mining modules have been imported into HCM City this year, according to the municipal customs department. In total, 7,005 mining modules were cleared for import into the southern hub as of mid- December, most of which originated in China. According to the HCM City customs department, only about 1,400 mining modules had been shipped to the city between January and October, including 1,310 machines specifically designed for mining bitcoin and 620 designed for mining litecoin, two of the most popular digital currencies on the market. However, the price of bitcoin surging to nearly $20,000 over the past two months has led to a hype for mining the coin in Vietnam and the importation of over 5,000 mining units in just about eight weeks. The increase in mining machine imports is due, in part, to an announcement by the general Department of Vietnam Customs giving the green light for local customs de- partments to clear the importation of such machines, citing the fact that they do not fall under the list of banned items according to current laws. Cryptocurrency mining is the process of solving computationally difficult puzzles complex computer algorithms set by a blockchain that powers a digital currency through which new coins are released and awarded to successful miners.

Intellasia 29 December 2017 14 / 49 Vietnam finance & business 29 December

In the early days of digital currency, coins could be mined using central processing units (CPUs) from regular desktop computers, or graphic processing units (GPU) for more efficiency. Eventually as puzzles became increasingly harder to solve, specifically designed hard- ware for cryptocurrency mining, known as application-specific integrated circuits (ASICs), rose to popularity. Today, mining digital coins has become so competitive that it can only be profitably done using machines running the latest ASICs, as mining with CPUs or GPUs would result in the cost of energy consumption being greater than the revenue generated. The issuance, supply, and usage of cryptocurrency, including bitcoin, litecoin and other digital or virtual currency that uses cryptography will be outlawed in Vietnam for security reasons once the amended Penal Code of Vietnam takes effect on January 1, 2018. https://tuoitrenews.vn/news/business/20171228/over-7000-digital-coin-mining-machines-imported-into-ho-chi-minh-city-in-2017/43364.html FINANCE

Vietnam's December 29/DEC/2017 INTELLASIA| TUOITRE NEWS crude oil output falls Vietnam's crude oil output in December is estimated at 1.09 million tonnes (257,700 12.1 pct y/y to 1.09 barrels per day), down 12.1 percent from a year ago, the government said on Wednes- million T day. Crude oil output in November was higher than estimated at 1.24 million tonnes, the General Statistical Office said in its monthly report. Vietnam's 2017 crude oil exports were seen rising 0.3 percent year-on-year to an estimated 6.9 million tonnes, or 138,500 barrels per day (bpd). https://tuoitrenews.vn/news/business/20171228/vietnam-s-dec-crude-oil-output-falls- 121- percent-y-y-to-109 million-t/43354.html

A PPP law must 29/DEC/2017 INTELLASIA| VNS address thorny BOT Dr Hoang Ngoc Giao, director of the Institute for Policy, Law and Development Stud- issues ies, tells Tuoi Tre (Youth) that the parliament owes the public a law on public private partnership and needs to repay its "debt" soon. Following the chaotic situation at the Cai Lay BOT toll booth, prime minister Nguyen Xuan Phuc has ordered the temporary suspension of toll collection for all vehicles passing the station so that the transport ministry and other concerned agencies can decide on the appropriate fees to be collected there. Do you think a satisfactory solution can be found? In my opinion, the difficulty lies in the political will of the concerned authorities, not in legal or technical solutions. Why do I say so? Because, in a project with multiple interests and impacts on various parties, even the prime minister can't come up with a final decision off hand. However, we can find a workable solution. For the Cai Lay BOT project, we have to analyse all aspects. If the toll booth has been built on the wrong location by the investor it should be moved and the investor would be legally responsible. If a Ministry of Transport official is responsible, she/he must take the blame. If the booth is wrongly located but there has been no legal violation, the government can step in and use the State Budget funds to take remedial measures. However, an independent study must be conducted by a group of experts before a solution is applied. The experts can come up with a proposal on how to solve the problem. We organised a seminar on the topic recently and some participants asked a question: Does the BOT policy come from the government or the transport ministry? If it is the latter, we need to look at the problem carefully and see if decisions have been influ- enced by certain interest groups or not. In short, we need a system for reviewing and approving BOT projects right from the planning stage through its financing and implementation stages. In reality, it is not easy to "kill" a BOT toll gate as it is an economic contract.

Intellasia 29 December 2017 15 / 49 Vietnam finance & business 29 December

As prime minister Nguyen Xuan Phuc has said: "Things sometimes are totally in line with the law, but they do not work in real life and not enjoy support from the general public. In such a case, we have to look at the issue carefully and make adjustments." The National Assembly Standing Committee last August discussed a supervision report on the implementation of BOT transport projects. In October, the committee issued a resolution. Can you comment on these two documents? In my opinion, in the context of some serious problems arising from BOT transportation projects, the NA Standing Committee's supervision report and resolution have pointed out weaknesses and limitations and come up with some key principles and solutions, particularly the demand to put an end to the activity of "consolidating" the sur- face of old asphalted roads and not to have BOT investment for a road that offers the only access to a locality. However, in my opinion, the October Resolution is not a far-reaching solution. We need important principles that will govern future BOT projects to make them safe and sound. FINANCE Some people have raised concerns that many BOT projects have been built on a weak legal foundation. That's why the border line between right and wrong is very thin. In other words, a BOT project should cover various legal perspectives coming from the Civil Code, the Law on Tender, the Law on Protecting Consumers and other relevant regulations. Why are so many BOT stations getting into problems in terms of the public response to them? Why were these problems not foreseen? People are indignant that several BOT stations have been built in their localities without consulting them. I don't know whether the National Assembly deputies from Tien Giang Province and the Provincial People's Council consulted the local people before taking decisions re- garding the Cai Lay BOT project, including the toll station. It is well regulated in the law that people who are going to be affected by projects have to be consulted and in- formed first before a decision is taken. Do you think what has happened with the Cai Lay project will deter potential investors from future BOT projects? No, I don't think so. I think many investors are willing to invest in BOT projects if there is transparency and accountability about all steps and requirements. I also think the financial requirement in a BOT project tender should be increased, i.e., those bidding for a project contract should have a charter capital that is between 30-50 per cent of the total project cost, instead of the current 10 per cent. This is the only way we can attract capable investors for BOT projects, particularly foreign investors. Besides, we should also diversify the forms of investment, even raising funds through the stock exchange. This is already done in many countries. BOT projects have been carried out in our country for almost two decades. Don't you think that it is time for Vietnam to conduct a comprehensive evaluation of these before including it in the Law on Public Private Partnerships (PPPs)? In my opinion, the National Assembly "owes" the people a law on public-private partnership. And I want it to pay off this "debt" sooner rather than later. I'm pretty sure that when we have a good legal foundation, Vietnam will have many investors willing to participate in BOT projects. http://english.vietnamnet.vn/fms/business/192416/a-ppp-law-must-address-thorny- bot-issues.html

New regulations 29/DEC/2017 INTELLASIA| VNS issued over operation The government has issued two new decrees over the operation mechanism of the of SCIC State Capital Investment Corporation (SCIC). The decrees prevent the SCIC from investing in companies of relatives but allow it to found subsidiary companies. Under Decree No 147/2017/ND-CP, SCIC is not allowed to pump capital into buying stakes at enterprises, where the managers are related to the corporation's chair, mem-

Intellasia 29 December 2017 16 / 49 Vietnam finance & business 29 December

bers of the Management Board, controllers and general director, as well as deputy general director and chief accountant. The relatives include spouses, natural parents, adoptive parents and natural son/ daughter, as well as adoptive son/daughter, natural brother, natural sister, brother-in law and sister-in-law. SCIC will not be allowed to contribute capital with its subsidiary companies to found joint stock companies, limited liability companies or carry out business cooperation contracts. The Decree No 148/2017/ND-CP allowed SCIC to found and contribute capital to subsidiary companies, including fund management companies, following the established laws. The two decrees were issued and took effect early this week. SCIC had a charter capital of VND50 trillion (US$2.2 billion). It was founded in 2005 and officially began operation in 2006, with an aim to enhance the efficiency of State capital at enterprises. FINANCE SCIC planned to earn a revenue of VND11.2 trillion and a pre-tax profit of VND8.3 trillion in 2017. Its business report in the first half of this year, the latest one available on its official website, showed that SCIC earned a revenue of VND2.67 trillion in the period, drop- ping by VND3 trillion over the same period last year. The pre-tax profit also dropped by more than VND2 trillion to VND2.5 trillion. As of June 30, SCIC's total assets reached VND60.8 trillion. SCIC was managing State capitals worth VND18 trillion in book value at 144 enterprises. http://bizhub.vn/markets/new-regulations-issued-over-operation-of-scic_291043.html

Ben Tre sees 29/DEC/2017 INTELLASIA| THE SAIGON TIMES investments up ten- The Mekong Delta province of Ben Tre has attracted a staggering VND22.5 trillion fold (US$990.8 million) in domestic investment and around $400 million in foreign direct investment (FDI), which is a ten-fold increase over 2016, the provincial Department of Planning and Investment said. Local investors have embarked on 51 new projects, and have injected more money into 10 existing projects this year. Meanwhile, foreign investors have been involved in five new projects, and have poured extra capital into four other operational projects. The large-scale FDI projects include the Binh Dai-Ben Tre wind farm worth over $180 million, the Nexif Energy Ben Tre wind farm valued at $160 million, and the Family Vietnam textile factory (US$11.9 million). As many as 72 investors or groups of investors at home and abroad have sounded out business opportunities in the province in 2017. Currently, the province is home to 188 valid domestic projects worth more than VND37.7 trillion (US$1.65 billion), and 52 FDI projects capitalised at over $843 million. http://english.thesaigontimes.vn/57745/Ben-Tre-sees-investments-up-ten-fold.html

Hanoi targets 10pct 29/DEC/2017 INTELLASIA| VNA growth in rural The capital city of Hanoi has set a target of 10 percent growth in rural industrial pro- industry in 2018 duction in 2018 to reach 98 trillion VND (4.32 billion USD). Of the total, 10-12 percent growth is expected to come from craft villages. Handicraft products' export revenue is hoped to hit 200 million USD, up 6.9 percent compared to 2017. Nguyen Doan Toan, vice Chair of the Hanoi People's Committee, said that in 2017, the city's industry development policies helped industrial production increase 7.3 percent year-on-year, including nearly 89.5 trillion VND of rural industrial production, up 33.3 percent over the previous year. Toan noted that the number of labourers working in the rural industry in 2017 was over 417,600 up 4 percent year-on-year. Their average income exceeded 47 million

Intellasia 29 December 2017 17 / 49 Vietnam finance & business 29 December

VND per year, an increase of 13 percent. Last year, the city helped 12 rural industrial establishments upgrade technology, he said, adding that several effective projects were launched, including those developing production chains of organic fertilisers and steel production. However, he also pointed out that some activities to boost industrial production were not implemented due to wide area and a lack of qualified personnel. To effectively carry out the targets in 2016-2020, the city will launch industrial promotion programmes in a comprehensive manner. Hanoi will assist 40 rural industrial establishments to hold vocational training courses on the craft industry for about 1,400 labourers, while sending owners of about 1,500 other establishments to training courses on start-ups, international integration and product design. The city will also help 10 establishments apply modern technology in production to raise their products' quality and productivity, said Toan. https://en.vietnamplus.vn/hanoi-targets-10-percent-growth-in-rural-industry-in- FINANCE 2018/124028.vnp

Hai Phong calls FDI 29/DEC/2017 INTELLASIA| VIR for four key Hai Phong is calling for foreign direct investment worth $500 million for four major transportation projects transportation projects in the northern port city, according to the Hai Phong Invest- ment, Trade and Tourism Promotion Centre. The four projects calling for foreign investment include constructing a road from Ho Sen-Cau Rao 2 to Nguyen Van Linh Street, a road tunnel from Nguyen Binh Khiem Street to Vu Yen Island, Hai Thanh Bridge, and Ben Lam Bridge. Of these, the Ho Sen-Cau Rao 2-Nguyen Van Linh transportation project (at Le Chan and Hai An district) based on an area of 6 hectares calls for $17 million of investment capital. This project, the investment strategy of which has been approved by the prime minister, is an important transportation infrastructure work under the new urban area of Ho Sen-Cau Rao 2. Earlier, the first phase of the project, constructing the road section from Cau Rao 2 to Nguyen Van Linh Street, was finished. The second phase will construct a road from Nguyen Van Linh Street to Con Market. This project is an integral part of the North- South transportation system of Hai Phong, connect the city's centre to National Route 5 and Do Son tourism area. The second project involves constructing a road tunnel from Nguyen Binh Khiem Street to Vu Yen Island (at Hai An and Thuy Nguyen district). Taking up an area of 8.1ha, the project needs a total investment capital of $180 million. It is 350 metres long and four lanes wide. The third project, Hai Thanh Bridge, will connect provincial Road 353 to Tan Vu intersection (at Duong Kinh and Hai An districts). This 40ha project calls for a total investment capital sum of $135 million. The bridge will be 5km long and 12 lanes wide. Last but not least, Ben Lam Bridge (at Hong Bang and Thuy Nguyen districts) will have an area of 6ha, with a total investment capital of $160 million. Its length is 1.3km with 10 lanes. http://www.vir.com.vn/haiphong-calls-fdi-for-four-key-transportation-projects.html

Shoe industry gears 29/DEC/2017 INTELLASIA| VNA up to go hi-tech A dramatic change in market trends and the "fourth industrial revolution" are forcing Vietnamese enterprises to gradually apply new technologies to production. Using the technology, businesses can increase their value. Many Vietnamese companies have started to invest in machines with modern technology to automate many production stages to increase productivity, improve quality and save time and money. According to the Vietnam Leather, Footwear and Handbag Association (LEFASO), leather footwear has been a key industry in Vietnam for many years, creating jobs for more than one million workers nationwide. The export turnover of leather and footwear reached more than 16 billion USD last

Intellasia 29 December 2017 18 / 49 Vietnam finance & business 29 December

year. Turnover is expected to reach 17 billion USD this year, a year-on-year increase of more than 10 percent. The world trend is changing and the new industrial revolution has made a dramatic change in terms of labour productivity and science and technology. Low labour cost is no longer an advantage, it is gradually moving to knowledge economy. According to leather workers, many big companies in Vietnam have invested in machines, moving to automation. Viet A Chau Investment Development Corporation in HCM City is investing in technology to meet development requirements. The corporation has invested in scanners and 3D printers to serve moulding. The investment has helped businesses reduce time to 10 days for moulding -and to significantly reduce delivery time. Thai Binh Shoes has been equipped with a large amount of new machinery for sample development and production. They include programmable sewing machines, compu- FINANCE terised embroidery machines and laser cutting machines to automate production stages. This helps the company reduce costs, increase labour productivity and reduce worker risks in several production stages. According to experts, while the labour productivity of domestic enterprises is only four to six pairs of shoes per person per day, those of foreign-invested enterprises has reached 16-18 pairs a day and is expected to increase to 20 pairs next year. This difference has cost domestic enterprises big losses compared to foreign enterprises in terms of export turnover and added value. Bnews.vn quoted Phan Thi Thanh Xu- an, the footwear association's secretary, as saying that modern management methods and technology would solve the problem of labour productivity and the growth of the footwear industry. This investment required a lot of capital, but it would improve productivity and improve product quality, she said. Nguyen Duc Thuan, association chair, said that it was important to improve the quality of human resources as well as strengthening the application of science and technology in production. Despite the high export turnover, the value of the footwear industry is still low, accounting for only 20-25 percent of the value chain. Limitation on research and development has been a difficult problem for Vietnamese enterprises. Only by taking the initiative in research and development, Vietnamese enterprises can increase their value over the whole value chain. Recently, the Italian Trade Agency and the shoemakers' association inaugurated the It- aly-Vietnam Footwear Technology Centre at the Lefaso Centre in the southern province of Binh Duong. Italy will assist Vietnamese companies improve product quality through technology transfer, consultancy and training of human resource. The centre is equipped with modern machinery and equipment imported directly from Italy and other European countries, allowing small and medium-sized enterprises in the leather-footwear industry to approach, research and develop new products. https://en.vietnamplus.vn/shoe-industry-gears-up-to-go-hitech/124061.vnp

2017- A good year for 29/DEC/2017 INTELLASIA| VOV paper industry 2017 has been a good year for the paper sector which has seen production capacity grow at a rate of 50 percent and exports increase by 14.5 percent. The sector is forecast to maintain its growth pattern in 2018 despite the presence of numerous difficulties ahead as Chinaa major paper importer has lowered the current 1.5 percent impurity level to 0.5 percent. Despite Vietnamese paper and paper products having been exported to more than 17 countries and territories around the world, the number of major consumers of Viet- namese paper is still quite modest compared to other export sectors.

Intellasia 29 December 2017 19 / 49 Vietnam finance & business 29 December

According to statistics provided by the general Department of Vietnam Customs, there has been an estimated $59 million worth of paper exports in December, which brings this year's total export value for to $732 million, a year-on-year rise of 14.5 percent, driven mainly by demand from the three major importers of China, the US, and Japan. The geographic proximity and favourable transport conditions have facilitated China surpassing Japan this year to become the top consumer of Vietnamese paper with the 11-month exports to the Chinese market increasing dramatically by more than 27.5 times the amount for the same period last year to $105.7 million. However, the two other major importers the US and Japan suffered declines of 0.51 percent and 2.42 percent to $80.6 million and $79.9 million, respectively. Exports to Taiwan (China), the fourth largest market, surged by 4.68 percent to $78.5 million, Indonesia up 108.46 percent to $28.9 million and Thailand up 105.19 percent to $12.4 million. The sector will be getting for major realignments next year by using advanced technologies, incentivising businesses to adhere to the strict requirements of environmentally FINANCE friendly and green products. While the sector is experiencing strong growth, it is faced with many challenges, such as the fierce competition between domestic and foreign businesses in local and export markets, and falling paper demand in response to the robust development of communications technology and the prevalence of social networks which has resulted in a drop in consumption of print media. Paper businesses have set their sights on establishing connections with new markets and partners through participation in the 7th Vietnam International Exhibition on Pulp and Paper Industry (Paper Vietnam 2018) scheduled to be held from June 13-15 at the Saigon Exhibition and Convention Centre. http://english.vov.vn/trade/2017-a-good-year-for-paper-industry-365604.vov

Intense competition 29/DEC/2017 INTELLASIA| VNS awaits in 2018: real- Next year is likely to be a fiercely competitive one for real-estate companies in HCM estate experts City since scores of new projects are set to hit the market, analysts said. Following a successful 2017, many developers have already announced plans for next year. Nguyen Dinh Trung, general director of HungThinh Corp, said 2018 plans were discussed and finalised in the middle of the previous year. He told the Vietnam Investment Review that the plans had acquired dynamism after the company's 10 mergers and acquisitions in 2017. The company's plans include expanding to the north and starting to sell its products in 2018. It opened a representative office in Hanoi this year. Vietcomreal said it considered 2018 an important year for its business. According to the Vietnam Investment Review, the company will increase its land holdings by bidding for properties sold by privatised companies, especially in HCM City. Phat Dat Company will sell units in two apartment projects in District 7 and develop the River City. Singaporean-owned Keppel Land will develop Palm City and The View. Talking about the market next year Le Hoang Chau, chair of the HCM City Real Estate Association, said next year the market would change to balance demand and supply in the various segments, and become stable, he said. He predicted there would be intensive investment at the low end, where there is plenty of actual demand for housing. The city is considering converting one third of all agriculture lands into urban lands to use for industry and services and build the smart urban area, he said. The market would continue to develop next year thanks to foreign investors and overseas Vietnamese, he added. Economist Can Van Luc said many new companies in property development and trading were incorporated this year. Many real estate projects are waiting for licences, and so 2018 could be a tough year for

Intellasia 29 December 2017 20 / 49 Vietnam finance & business 29 December

the companies in the sector, he said. Nguyen Nam Hien, general director of HungThinh Land said next year there would also be intense competition between transaction centres because many new ones were established this year. http://bizhub.vn/property/intense-competition-awaits-in-2018-real-estate- experts_291039.html

Vietnam's top 50 29/DEC/2017 INTELLASIA| VIR brands hit $11,279 The telecom sector made up 35 per cent of the value of Vietnam's 50 largest brands, fol- billion lowed by food (15 per cent) and banking (11 per cent). Brand Finance, in association with local representative Mibrand Vietnam, a branding consulting firm today held the conference titled "Managing and Strengthening Brand Strength Index" and certified Vietnam's Top 50 most valuable brands -- confirming the development and brand strength of the domestic enterprises in 2017.

FINANCE In particular, the total value of the Top 50 brands in Vietnam was recorded at $11,279 billion. There are many big brands on the list, showing that Vietnamese enterprises are gradually catching up with the global trend of investing in intangibles, typically brand value. There are two billion-dollar brands. Viettel was valued at $2.57 billion and Vinamilk at $1.36 billion. These are followed by VNPT ($726 million), VinHomes ($604 million), Sabeco ($598 million), PetroVietnam ($456 million), MobiFone ($391 million), Vina- Phone ($314 million), Vietnam Airlines ($310 million), and Thaco Truong Hai Auto ($298 million). According to the report, the top 10 brands make up 68 per cent of the total brand value on the list. Out of the top 50, Vinamilk managed to improve its brand the most in terms of abso- lute value, posting an increase of $352 million compared to 2016. Vietnam Airlines improved the most by brand strength, from rating A (55) in 2016 to AA (74). Hoa Binh rose the fastest this year by jumping up 14 places, and VTEC has the highest brand value/enterprise value ratio of 56 per cent. At the conference, Samir Dixit, managing director of Brand Finance Asia Pacific focused on the hot issues in the Vietnamese business community and managing and strengthening the Brand Strength Index. He said: "Vietnamese corporates have always focused on promoting sales through marketing activities with little or no focus on branding. The brand is a key business asset that drives the price premium, competiveness, and significantly higher shareholder value. It is also the only appreciating asset that a company owns yet it is also the least invested into." "The value of the brand as an intangible asset, therefore, must be managed as part of a structured management agenda and not left to simple sales and promotional activities. These, in fact, destroy the value of the brand," Dixit said. Talking about managing and strengthening brand strength, Lai Tien Manh, director of Mibrand and country representative of Brand Finance in Vietnam, said: "Brand Fi- nance and Mibrand are developing a long-term programme aiming to effectively improve brand value for corporations in Vietnam. It starts with awareness of the importance of intangible assets, measurement of capabilities according to international standards, strategic communications planning for effective positioning, increasing competitiveness, and incorporating the brand value on the balance sheet. Today's event is part of this strategic branding programme." At the conference, the managing director of Brand Finance Asia Pacific handed over certificates to the representatives of Vietnam's Top 50 brands. Brand Finance Plc. is a world-leading independent brand valuation and business strategy consultancy firm, with a global footprint of over 20 offices worldwide. Annually, Brand Finance valuates more than 70,000 brands all over the world. This is the second year Vietnam has been listed among the countries to be evaluated by Brand Finance. This is the only ranking qualified by ISO 10668 on evlaluation stand-

Intellasia 29 December 2017 21 / 49 Vietnam finance & business 29 December

ards. The brand value estimated by Brand Finance is accepted in tax declaration, au- diting, and M&A. http://www.vir.com.vn/vietnams-top-50-brands-hit-11279 billion.html

Foreign takeovers stir 29/DEC/2017 INTELLASIA| VIR brand loss concerns Debate about Vietnam losing grip of its signature brands has intensified, as overseas investors continue their takeovers of leading businesses in the country. Local brands in foreigners' hands Last week, Vietnam's number-one brewery Sabeco was acquired by Thai Beverage (ThaiBev) in a $4.8 billion deal. This is the latest development in Vietnam's booming merger-and-acquisition (M&A) market, which usually sees foreign investors purchas- ing top domestic firms and renaming their brands. Another recent high-profile transaction came in Mondelez International taking over Kinh Do Corporation's confectionery business and rebranding it Mondelez Kinh Do.

FINANCE In 2016, the Korean conglomerate CJ bought out Cau Tre Foods and changed the brand's name to CJ Cau Tre. Some other takeovers, such as the Daesang takeover of Duc Viet Foods and the ThaiBev purchase of Sabeco, have not included any rebranding, but at the very least, foreign buyers have gained control of the market share and distribution network that these Vietnamese firms have built up throughout the years. This trend started in the 1990s, when the British-Dutch conglomerate Unilever took over the Vietnamese toothpaste brand P/S and brought its own brand Close-Up to Vi- etnam through the P/S distribution network. In a more extreme case, Da Lan toothpaste, which was a top consumer brand in the late 20th century, disappeared after being acquired by the American firm Colgate. Some experts are concerned that, as Vietnam becomes more open to overseas M&As, the country may lose its well-established brands to foreign investors. Following the Sabeco sale, economic expert Pham Chi Lan expressed her concern that foreigners may treat long-standing Vietnamese brands as disposable vehicles for their market expansion. "I'm sad to see Vietnamese brands, after so many years of development, being taken over by overseas buyers. I think of this as a big loss for Vietnamese pride," she said. Branding has also been a cause of dispute between Vietnam's Bibica Corporation and its major shareholder, South Korea's Lotte Group. Bibica refused to rebrand itself as Lotte Bibica or distribute Lotte's products in Vietnam, which has led to tension between the partners. This conflict was only resolved when a Vietnamese investor acquired enough shares to counterbalance Lotte's influence in Bibica. Let the market decide Other experts acknowledged their concern in losing Vietnamese brands, but shared a more positive viewpoint on this sensitive matter. Kelvin Tan, CEO of HSBC Thailand, told VIR that M&As should be considered "long-term partnerships" rather than "hos- tile takeovers". "Thai investors and Vietnamese companies can collaborate to provide the highest- quality products to Vietnamese consumers, as well as help Vietnamese brands expand overseas. Competition between Thai and Vietnamese products will result in more choices to consumers in Vietnam, which I believe is a good thing," said Tan. Similarly, Tran Manh Hung, head of Baker & McKenzie's Intellectual Property Depart- ment in Vietnam, said that these M&As will force Vietnamese domestic brands to change, adapt, and comply with international rules, outweighing concerns about the brands losing out in their home market. According to Hung, foreign investments in Vietnamese brands will make them strong- er and more competitive in international markets. M&As should be seen as encourag- ing news as they show that Vietnam is continuing to be regarded as one of the most dynamic and attractive markets in Asia and the world. In the Sabeco case, Thai Beverage is expected to improve the state-owned firm's productivity and efficiency, as well as helping it export products overseas.

Intellasia 29 December 2017 22 / 49 Vietnam finance & business 29 December

Nguyen Duc Hung Linh, director of Retail Research and Investment Advisory at Sai- gon Securities Incorporation, said that he understood the feeling of national pride at- tached to popular Vietnamese brands. However, he believes that the Vietnamese economy needs foreign investments to grow and help develop domestic companies. "Vietnamese businesses are not strong enough on their own to expand overseas, so the country still needs to woo foreign capital. Hopefully, with the help of foreign investors, we can see more Vietnamese brands in global markets in the next three to five years," Linh said. Linh also pointed out that foreign investors should not be accused of "mistreating Vi- etnamese brands" if they conducted the M&As according to market rules and help to improve efficiency. In some cases, according to Linh, domestic investors are more likely to be guilty of ex- ploiting companies for their own gain, without contributing to corporate governance or market expansion. This practice is usually called "group interests" in Vietnam, in which domestic investors partner with dishonest government officers to buy out firms FINANCE via questionable transactions. http://www.vir.com.vn/foreign-takeovers-stir-brand-loss-concerns.html

Vietnamese firms 29/DEC/2017 INTELLASIA| VNS urged to focus more on Vietnamese firms were urged to increase their focus on intangible assets to strengthen intangible assets brand value at a conference jointly held by Brand Finance and its local representative Mibrand Vietnam in Hanoi yesterday. Brand Finance, the world's leading independent brand valuation and business strategy consultancy, found that intangible assets played a significant role in enterprise value generation, pointing out that currently 52 per cent of global market value is vested in intangible assets. The fact that most of the intangible value was not disclosed on company balance sheets further shows that investors still poorly understood the importance of intangible assets. Such ignorance leads to systematic mis-pricing of stock by investors, the company said. Samir Dixit, managing director of Brand Finance Asia Pacific, said at the conference that Vietnamese companies always focused on promoting sales through marketing activities with little or no focus on branding. "The brand is a key business asset and the only appreciating asset that a company owns, yet it is the least invested into. The value of the brand as an intangible asset therefore must be managed," he said. Lai Tien Manh, director of Mibrand Vietnam, said that Vietnamese firms were now paying more attention to increasing revenues, market shares or profits rather than branding. "Strengthening brand values is the way towards sustainable development and will provide opportunities to expand a firm's international reach," Manh said. Manh added that Brand Finance and Mibrand were developing a long-term programme aiming to effectively improve brand value for corporations in Vietnam. The programme starts with awareness on the importance of intangible assets, measurement capabilities according to international standards, strategic communications planning for effective positioning, increasing competitiveness and incorporating the brand value on the balance sheet, he said. At the conference, Brand Finance handed certificates for the top value brands for domestic enterprises in 2017. This was the only rating that had a brand valuation approach that met the requirements of ISO 10668 on valuation standards and of international value. There were many big brands appearing in the Brand Finance Top 50 Vietnamese Brands 2017, which showed that Vietnamese enterprises were gradually catching up with the global trend of investing in intangible value in enterprises. According to Brand Finance, the total value of Top 50 brand names in Vietnam was recorded at $11.279 billion, 68 per cent of which was made up by the Top 10. Topping the list was Viettel with a brand value of nearly $2.6 billion, followed by

Intellasia 29 December 2017 23 / 49 Vietnam finance & business 29 December

Vinamilk with a value of $1.36 billion, VNPT with $726 million, Vinhomes with $604 million and Sabeco with $598 million. The brand value of the telecom industry accounted for 35 per cent of the total value of the top 50 brands, followed by the food industry (15 per cent) and the banking sector (11 per cent). Huynh Van Tan from Phu Nhuan Jewellery Joint Stock Company, which ranked 23 in the list, said that customers should be the centre of any enterprise's branding. Brand Finance has been valuating more than 70,000 brands annually all over the world. This is the second year Vietnam has been evaluated by Brand Finance. http://bizhub.vn/news/vietnamese-firms-urged-to-focus-more-on-intangible- assets_291048.html

HCM City firms step 29/DEC/2017 INTELLASIA| THE SAIGON TIMES up investment in Many industrial enterprises in HCM City have invested dozens of millions of US dol-

FINANCE supporting industries lars in supporting industries to participate in the supply chains of foreign direct investment (FDI) firms, especially those in electronics and auto sectors. According to experts, the HCM City engineering industry holds high potential, offering numerous opportunities for those local firms wanting to engage in supporting industries. Take the auto sector for example. Mercedes has plans to boost auto manufacturing in Vietnam to supply the Southeast Asian market, while other firms such as Daehan Mo- tors, Vinh Phat Motors and Samco have penetrated into the Vietnamese market. Such a trend will result in higher demand for parts, thus boosting supporting industries. According to the HCM City Department of Industry and Trade, many engineering enterprises have invested heavily in modern production lines including Saigon Industry Corporation, Lap Phuc Precision Mold Making Company and Mechanical and Indus- trial Construction JSC. In addition, some companies have spent huge amounts of capital on production lines for hi-tech supporting industries at industrial parks and export processing zones in the city. Particularly, EChigo Vietnam JSC has poured nearly $11 million into a high precision mold manufacturing project to manufacture 240 precision molds and 100 million parts a year. Meanwhile, THT Precision Engineering Co Ltd has spent $12 million on a project to develop precision engineering products for hi-tech machines and engines with an annual capacity of 600,000 drive shafts. Besides, APC Industry Corporation has invested $7.5 million in a plant to manufacture hi-tech support equipment such as motors, electric generators, transformers and electricity distribution and control equipment. Up to date, the city has had two enterprises chosen to supply parts for Samsung, namely Hiep Phuoc Thanh Production Co Ltd and Minh Nguyen Supporting Industry JSC. Electronics manufacturers in HCM City have high demand for electronic components, circuits, and measurement and optical devices. However, they have to import parts to serve local production, mainly from China, Taiwan, South Korea and Singapore. According to the HCM City Department of Industry and Trade, the city's Index of In- dustrial Production (IIP) this year may accelerate by 8.48 percent over last year, higher than 7.25 percent last year versus 2015. The city has set a target of maintaining the growth rate of 8-8.5 percent next year, in which processing and manufacturing industries will post 8.2 percent year-on-year growth. http://english.thesaigontimes.vn/57749/HCM City-firms-step-up-investment-in-supporting-industries.html

VN, Russia sign deal 29/DEC/2017 INTELLASIA| VNS on autos Russian vehicle makers will set up joint ventures in Vietnam to manufacture and as- semble trucks and cars with 10 seats and above, crossover utility vehicles and several kinds of special-purpose vehicles.

Intellasia 29 December 2017 24 / 49 BUSINESS Vietnam finance& business Vietnam positive territory indexesfinishin Main December, 2017 Business Briefs29 BUSINESS Intellasia NEWS http://bizhub.vn/wheels/vn-russi hadyettobenefit completion, soenterprises mechanisms and policies for the vehicle industry in Vietnam were in the process of it year, last 5 from October effective was at theSpeaking signingceremony, minister as creating diverseop well as including KAMAZ,GAZ and UAZ,toexplor to 84.4percent. ern Waterborne Transport Corporation (SWC), raising its ownership from 75 percent * Sotrans Infrastructure Investment Company 2.6 percent dividend yield base change and payan interim dividendfor2017 listing fromthe market forunlisted public Cargo Service(SCS) will * Saigon Corporation million SE over17.3 buy to registered Kim, aboardmember ofVi Bao * Truong a bond coupon. company year. The tenor ofone a bond and wi debt The supplement itsworkingcapital. toissu decided has Company Securities * ACB million. 64 purchase isdone, LSSwillre price. Transaction willbe made between ofitstotal percent 8.5 or treasury shares, Corporation(L * LamSonSugar the bourse. on proceduresmillion shares ing tofloat36 Ta Meanwhile, HDB. of code the under shares has givena * TheHochiminhStockExchange ment. VND258,000 per share, is expected to spen VND66,000 for each share held. The firm, whichhas a market priceofaround to advancea2017 dividend in at660 cash (VCF) willcl Company * VinacafeBienHoa from percent plunging 41.7 VNDI0,000 each. Launched onthe HCM City million shares 31.5 to shareholders ata1- Danang SkyGarden project, aplantoraise Company(TNI)haspassed VND315billionforits * ThanhNamGroup 29/DEC/2017 INTELLASIA| The revised protocol will providemore favo market. tastes ofthe and to setsofautomobile parts from 2018 13,500 and units built-up 2,550 complete duty-free theventure toimport allow will Vietnam documents. porting andtrading in warranty services, automobile maintenance and other related These stipulate thecondit 116/2017/ND-CP. Decision No08/2 with primeministerial Under therevised protocol,automobilesmanu day. and the Russian Ambassadorto Vietnam K This ispartofadeal signed between mini All main indexes on Vietnam'sstock indexes All main on ground December gain 28. indexes All main 29/DEC/2017 INTELLASIA| VN ECONOMIC TIMES VNDI0,900 to VND6,350 ashare. toVND6,350 VNDI0,900 duce itsnumberofoutstandin debt payment and working capital spike. TNI will offer offer will TNI spike. capital working and debt payment tions forVietnameseconsumers. d onthe closing priceon Monday. SS) has registered tobuy back six million shares as a-sign-deal-on-autos_291046.html market closed market up on December 28. A shares shares A from 25,2018. now toJanuary 017/QD-TTgCP and government Decree No was anew fieldofcooperation. Management January 10 and February 8, 2018. Once 8, the 10andFebruary 2018. January outstanding volume, to prop up its market market topropupits volume, outstanding etnam Seaproducts Com- pany (SEA),has Seaproducts Com- etnam for-1.5 shareswillbe ratio. for-1.5 sold at The ster of and Industry Trade Tran Anh Tuan percent, meaning shareholders willreceive d over VND1.7 trillion on the dividendpay- trillion on d overVND1.7 enterprises, UPCoM, to the HCM ex- totheHCM City enterprises, UPCoM, onstantin V.VnukovinHanoi on Wednes- urable conditionsfo Tuan Anhsaidthatalthoughthe protocol ions on manufacturing, assembling, im- ose its shareholder list on January 9, 2018 9,2018 onJanuary list ose itsshareholder 2022 as 2022 a way ofexploring the capacity from theprotocol'spreferential treatment. and bondholders willnegotiate todecide ll haveaface value ofVNDl billion per pproval toHDBank to trade 981 million e andpenetrate the Vietnamese market of VND3,000per share, equivalent to a has acquired 6.3 million shares of South- has acquired 6.3millionshares seco Airs Joint Stock Company isfinish- seco AirsJointStock bourse inMay,TNIhasseen its price seek shareholder approval to move its approval tomove shareholder seek factured byjointventures must comply e 170 bonds in a private placement to to placement bondsinapri-vate e 170 g shares'million from 70 to r Russian automakers, automakers, r Russian 29 December 2017 25 /49 29 December 29 BUSINESS Vietnam finance& business Vietnam transactions end of theyear stock Foreign fundsrushing Intellasia in-positive-territory http://vneconomictimes.com/article/bankin billion ($417,621). by net boughtonHSX They million). On UPCoM,foreign bought1,114 investors and million ($18,480)), SPI VE1 billion($61,674)), by DHT(VND1.4 As anoutcome oftherecent renovation of th condensed inHadongdi gested anew waveof investment will reac ing theirportfolios divestiture by and capi As claimed bynumerous mark per VPI cent stake thethirdtransaction stocks. and was of380,000 sec The days. 20 than less in (VPI) Invest the with "ris inthreestock purchases engage to foreign fundswererecorded undisclosed 8. AnothertwoDecember on ownership Likewise, Dragon Capital became Securities. firm Samsung based private equity fund Caldera Pacific firm, confirmed astocktransaction worth In particular, onSeptember 6, Dragon Capi to seize upcoming disbursement opportunities. earnedtheforeignfund endof2017 wards the ofstocksworthume around $53 million. Specifically, during December4-8, foreignfunds were reported to sell awhopping vol- inve seeking actively whilst launches, of stocksworth to$100 mi up funds have Over thepastfewmonths,foreign 29/DEC/2017 INTELLASIA|VIR was NTP the largestnet sold share on HNX, and billion($127,753)), (VND2.9 ($581,497) billion byVIC(VND13.2 lowed On HSX, SSIwas the largest net soldshare, and ($704,845)), billion (VND16 billion lion)), BVH (VND20 ($881,057)), boughtTop 5sharesby foreign The investors wereVCB(VND36.5billionmil- ($1.6 1.2 per 0.7 cent andDXG per cent. lost whileVRE cent,andREE0.2per per 0.3 ITA cent,VICand cent, NVL1.3per In constructionandreal estate,QCGgained GAS 0.1per cent. PGD, PVD, and PVTclosed at their opening price. In energy,PLXrose1.1 cent PPC0. per and cent. per 0.8 and STB per cent, 0.9 MSN 2.2per 2.1per cent, cent, BVH cent, MBB 1.5percent, VPB BID and 1.4 cent, VCI per In banking,CTGincreased4.1per cent, SS VNMand 0.8cent, per whileBBC lost 0.6TLG andper cent closed at its openingprice. gainedand beverages,food 5.7 TAC In pe points. points. closed day It 976.72 then the ing at971.71 at fell pointsand 970.63 opened at Index The VN yesterday, andonHN Liquidity on HSXreached VND3.8 trillion ($ percent). (0.24 0.13points percent),andthe (0.86 UPCoM-Index points On HNX, theHNX-Indexgained 0.83 points points (0.93percent). On HSX, theVNIndex increased 8.26 poin X was billion VND733 ($32.3 mi strict (western Hanoi). (VND99 million($4,361)). (VND99 VND210.56 billion ($9.2 mill ($9.2 billion VND210.56 llion during the end of the year season of stock market the yearseasonofstockmarket the endof during llion et specialists,foreign-owne HPG (VND15.4 billion ($678,414)). (VND15.4 HPG HAX (VND1.8 billion($79,295)). (VND1.8 HAX Hai Hai Phat Invest's witha15percent strategic partner HT1 closed at its openingprice. closedatits HT1 stment opportunities in the country. in stment opportunities DHG (VND17 billion ($748,898)), BMP billion ($748,898)), DHG(VND17 (VND584 million ($15,726)), THT (VND419.5 (VND419.5 THT million($15,726)), (VND584 ond transaction was of an approximately5.6 was of ond transaction Consequently, the excessive stock sale to- and South Korea-based financialinvestment r cent, VCF4.3percent, r cent, KDC 1.3percent, ), SAB (VND7.2 billion ($317,180)), KDH billion ), (VND7.2 ($317,180)), SAB around $123.7million with Hong Kong- I 3.4 per cent, VCB3per cent, EIB 2.9per tal relocation. Several market analysts sug- analysts Several market relocation. tal h real estate firmswhose properties are ts (0.85 per cent) and the VN30-Index and VN30-Index 8.89 ts (0.85 per cent) the ($1.3million), with VND30.7 billion fol- g-finance/ytq4ccg3-ma tal, Vietnam's larges Vietnam's tal, ,133 shares worth VND42.08 billion ($1.8 9 per cent while fell1.5 NT2 cent per and 2.9 per cent, CTD 1.8 per cent, ROS 1.6per ROS percent,CTD1.8 2.9 (0.72 per cent), theHNX30-Index 1.89 e district's public infrastructure, such such as infrastructure, public e district's ing star" of realestatefieldVanPhu the 167.4 million), 10.3 per cent higher than million),10.3percenthigherthan 167.4 with VND1.7billion s over $100 million,which s over$100 will beturned to 967.73 points endingthe before to 967.73 morn- been ceaselessly selling a hefty volume a hefty been ceaselesslyselling llion), 11.4per cent higher. ion) and onHNXbyVND9.48 ion) d funds might be restructur- d fundsmight t asset management t asset 29 December 2017 26 /49 ($74,889), followed ($74,889), in-indexes-finish- 29 December 29 BUSINESS Vietnam finance& business Vietnam 2018? that listin from banks What can beexpected Intellasia Apart from the aforementionedbanks,in the billion dong. of 780 the wholeyeartarget exceeding expected thebank's2017 that tions are which fall the favourable, may at en LeadersalsoOCB of said bank will the pr dong (0.89percent), up 174.5 billion dong fr TPBa at less onepercent. Specifically, than debt hasstronglyincreased fromthebeginning contin results business Though andthe in theentireyear2017, stock is bank the result, business current positive AccordingonOTC market toPhu,TPBshares STC. list shareson shares and million holders approved the plan toraise charter ca and mitted listingapplication is the expected At the recently held conference, Do MinhPh about 2.4trillion dong pre-tax 30th theprevious Vietnam from in banks cial isone HDBank Currently, in2017-2021. annum percent/annum overthelast 30 Bank reaches Nguyen ThiPhuongThao, deputy Chair of on OTC since December 14toprepare for thelisting. sh dongper 50,000 to up even dong, 35,000 HDBank shares on the OTCmarkethas skyroc Righ years. few last in the ance effectiveness HDBank isone ofthenamesthatmany in 2018. the beginning of IPOandbepresent onthebank planstocomplete stockexchangeat sion (SSC) about thelisting of shares onHo Commis- tothe Securities has procedures State HDBank completed So far, the filing 29/DEC/2017 INTELLASIA|DTCK Tien roadtunnel,andtheup-and-comingCa Specifically, theVanPhuc-Le Van Luong from thissuburban neighbourhood. newly-constructed routes and intersection To boot,foreign investorsturn areforecast to tion offoreigninvestment. well astherecently-erected overpassesinth Accordingly tothe recently released report shares bank for opportunity *Bright etc. Bac ABank,Vietbank, as to officiallylist such momentum of the stock market over thelast period. rather priceto stock increase bank helping 2017 on bad debt settlement of the NationalAsse banks is gradually improving in positive di the reason whymanyinvestors targets at "Kin Experts say that besides an economy that is cent respectively. inthe proportion group of real estate and the expectation on with high Specifically, more than 45 percent ofre in2018. investing estate or consumer credit butfinanceandba instead of investing inshort-ru ofinvesting instead as VIB,Tecombank,etc.or brin profitability and growth of this group in 2018while the profit is estimated to reach profit,doubling from2016. n profitgeneratingcompanies. ue flourishing, a noticeable point is that TPBank's bad bad TPBank's that is point anoticeable flourishing, ue price is likely to reach "threedots".price islikelytoreach spondents choose finance and banking stocks and banking spondents choosefinance consumer goods is 29.2 percent and 20.8 per- 20.8 and percent is 29.2 consumer goods omote its listing on STC ifthemarketcondi- omote itslistingonSTC intersection, the Thang Long-Khuat Duy nk's bad debt currently debt nk's bad vestors are concerned about by itsperform- s, housing firmscoul are. Currently, this stock stops transacting transacting stops stock this Currently, are. of Vietnam Report, ofVietnam stably, contributingtothe strong growth estimated to earn 1.2 trillion dongprofits 1.2 estimatedtoearn chiminh City Stock Exchange (STC). This This (STC). Exchange Stock City chiminh rection, especially after ResolutionNo.42/ om the beginningofth e area could play a major role in the attrac- majorroleinthe playa e areacould HDBank said the average growthofHD- HDBank saidthe forecasted tocontinueremaining stable, pital by separately issuing more than 87.6 morethan issuing separately pital by t after the listing of this bank, the price of bank, the this thelisting of after t nking is thegroup ofshares thatisworth towardsreputablelist u, Chair ofTPBanksaidhassub- t Linh-Hadongurbanra position. In 2017, HDBank plans to earn to earn plans HDBank 2017, In position. 10 years, and will maintain at 25 percent/ 25 at and willmaintain years, 10 are currently 26,000 dong each. With the With the each. dong are currently 26,000 d of 2018 d of2018 or thebeginning of Itis 2019. near future, manyot to list in Q2/2018. Earlier, TPBank share- Earlier,TPBank to list inQ2/2018. g stocks" is that the internal health of of health the internal that stocks" is g keted, hovering around 30,000 dongto around30,000 keted, hovering of the eight largest jointstockcommer- oftheeightlargest of the year, though it is still controlled controlled still is it theyear,though of mbly isissued.main factorthe Thisis g shares to transactg shares onUpcomsuch more than one trilliondong, d immensely benefit d immensely not construction real not construction 29 December 2017 27 /49 reaches 505.5billion reaches her banksalsoplan e year (0.7 percent). ed realed estatefirms ilway project,as 29 December 29 BUSINESS Vietnam finance& business Vietnam ESOP via trillions VND receive Employers Intellasia Masan Group (stock code: MSN) code: Masan Group(stock inthe be namedas followings: have enterprises that The typical carried being offsetby the commitment are the shares adjusted, they alsosuffer di concerned ab investors are However, many rewards. reduce significantly employees helps reward vate and enhancetheresponsibility of their em the benefitsof ESOPthat is becauseof It ESOP of the ticularly the enterprises ofwhic than cash bonusesor salaries. Thus,employ ployees' contributionstothe business perf toem- gratefulness its the shows firm is a way shares ESOP issuing employees, For to reinvest. tained profit toissueshares, therebyraisin addition, ente cash reward.In will nothavetoaccount anexpendterprises perspective ofenterprises,apromin the From criter according tothe to reward or sell at preferential prices Plan(ESOP),whichcanbeunderstOwnership of sharestoreward theiremployees.Thisty Vi of2017,many few lastmonth Only inthe 29/DEC/2017 INTELLASIA|TIN TUC Basel IIstandard. efdebterated badas the settlementwell as thatbank agement says (CIEM) director former deputy Dr VoTriThanh, from thesame periodof2016. in January-November, foreign investorsnet the in wave a also is offoreign investors in particular investment the that with Along warmly pleased with the company's decision toissue ESOP shares ataratio of 1.69 Employees of Coteccons Construction Join loyal tothecompany. ESOP policy the share. Thus, dong per 10,000 In addition, instead ofoffering bonus, MW to transferinfour years, in which 25 percent oftheshares are free totransfer each year. ESOP shares.However, theconditionsarechan This year, the remunerations for senior lead them are restricted totransfer si mi and7.33 in December2015, 5 percent) of ESOP shares inDecemberevery year. The gr in transfer to limited is amount remaining group. the of staff Under conditions,50percent oftheshares arerestrictedtotransferinoneyear key andthe and managers its to percent) 5 of (ratio year the of December in listed in Being ofESOP. dition Mobile World Group (MWG) is an enterprise have risen sharplyand helped employees getdouble benefits. conducte was shares of ESOP The issuance rose profit and netafter-tax percent by 41.4 high fina a record with the three yearperiod pose of recognising thecontribution of it company,under ESOPtoemployees ofthe ia ofeach business. rprises willnothaveto pay July 2014, MWG issued5.33 MWG 2014, July stocks will be more attrac willbe stocks milarly to the first ESOP issuance. ESOP to the first milarly and efforts of the key staff. key and effortsofthe issued nearly 9.9 million million 9.9 nearly issued to outstanding employees to outstanding employees tothecompany's innovationover many enterprises carry out this plan to moti- this plan carry out many enterprises out generous ESOP fo out generous ofthe Central InstituteforEconomic Man- positive support factor. Statistics show that showthat Statistics supportfactor. positive lution benefit fromtheenterprises, despite ormance, which isoftenmuch"heartier" two years.Fromthat timeon,MWGissues t Stock Company (CTD) would have been would haveStock Company(CTD) t g their charter capital while retaining cash retaining while g theircharter capital fort to healthilise the banking sector the under fort tohealthilise banking by 88.8 percent in 2 percent by88.8 pe ofstockisissuedunderEmployee Stock d in August 2017 and MSN shares so far sharessofar MSN and 2017 d inAugust G sell ESOP shares toits employees at stock market ingeneralstock market andthebankstock llion ESOP shares in December 2016, all of 2016, llion ESOPsharesinDecember etnamese enterprises ha purchased about $1.77billion,upsix times about purchased h stocks have stablegrowthovertheyears.h stocks out ESOP of enterprises because notonly oup issued 6.98 million ESOP shares(ratio ESOP issued 6.98million oup ees are often very interested inESOP, par- ncial result in 2016 (net revenue increased in (net revenue result 2016 ncial iture of salaries and bonusesiture ofsalariesand compared to ers ofMWGcontinue tobe9.22 million s subsidiaries andaffiliateswiththe pur- personalincometaxcompared to cash that has maintained long-standingtra- has that a maintained this time requires employees to be moreemployees tobe this timerequires ent advantage ofESOP ployees.this formof importantly, More ood as thesharesissuedood byenterprises ged as this amount of shares is limited of shares as thisamount ged tive in 2018 toaccel- tive in2018 thanks in cash, but can use the re- use the can in cash,but shares at 10,000 per share pershare at10,000 shares million ESOPsharesright 016 comparedto 2015). r their employees can r their employees 29 December 2017 28 /49 andgoodmanagers ve issued millions shares isthat en- 29 December 29 BUSINESS Vietnam finance& business Vietnam Intellasia years. The issuance price is 40, percent ofsharesincirculation.This amount In securities sector, Saigon Se market price of MBB is 25,000 dongper share. have beengladwiththestrongrise ofM totransferwithin years from two limited employeesat10,000 shares toits 17,127,409 In the banking sector, Military Commercial Joint Stock Bank (MBB) distributed per share. dong 50,000 around at market the traded on share. This amount ofshare employees oftheco to 431 lion ESOPshares JointIn October, St Construction HoaBinh price ofVGC. the sharereceivers.ondepending market half ofthecurrentprice Theissuance isonly 13,500 dong per share. The issued shares are Board ofdirectors.unitsat theVGC's inthelist priceissuance approved by The is and re sharestoitsemployees million 21.35 St Joint Viglacera 2017, In lateNovember cent. tions. Theissuancevalueunderparis Company (SAS), etc. (SAS), Company Stock Joint Services Airports Southern Company, Stock VNG Joint (TAC), Company Stock Oil Joint Vegetable Tuong An (XHC), Joint Company Stock Vietnam Xuan Hoa poration (GARCO10), Central Development and Investment Joint StockCompany, 10Cor- Garment (GGG), Stock Company Joint Service & Trade Golden Gate ny (ALV), De ALVInfrastructure (CTIN), Informatics and StockCompany forTelecoms Joint (DCL), Pharmaceutical JointStockCompany ment JointStockCompany (API), ThienL Joint International &Freight Sea Company, Stock Joint Trading and Development Housing (DNP), Company Stock Joint Plastic Joint Stock Corporation (PPH), Saigon Carg Company (DGW),Ha Tinh Pharmaceutical Stock Joint World Digital BTT), Company Stock Joint Service and Trading Thanh Ben Many other companies have also issuedESOP theissuancedate. after years other halfof and the two years, transfer in to dongper issuance priceis10,000 share. Half ance value under parvalue is 100 billion d tion between the firm andemployees, and employ its million ESOPsharesto 10 issue to bonusshares totheemployee issued 220,000 (HAR) Company Stock Joint Estate Real Commercial Investment Thao Dien Duong An share. completion ofthe issuance. The pr market Theti dong share. priceof10,000 per at the vestment Joint Stock Company (KDH) issued Another firm in construction andreal estate area Khang Dien House Trading andIn- dong. trillion at 1.220 valued is time this ESOP shares are restricted totransfer within a employees, ofwhich17million per to3.17percentof share, equivalent NV 20 alsoissued codeNVL) Group (Novaland, PriorConteccons, afirminthe sameindust to and in2015 2016. ees, after twoprevioustime market priceof CTD.This the is third timeCTD hasissued ESOP sharesto its employ- is not restricted to transfer and HBC shares are currently currently are shares HBC and transfer to restricted not is curities Joint Stock Company (SSI) has approved the plan the plan (SSI) hasapproved Joint StockCompany curities 000 per share, equivalent to pershare,equivalent 000 shares arenot restricted totransfer and three million year. BasedonNVL'scurrentmarket price, the BB share price intherecent time.Thecurrent ock Corporation(VGC)issued of amaximum theissuance date. MBB's employeesmust ong JointStockGroup (TLG), Cuu Long ice of KDH is currently 30,000 dong 30,000 per dong currently is ice ofKDH ock Corporation (HBC)distributedonemil- ock ong, issuance rate is 2.04 percent, and to supplement working capital. The issu- capital. working to supplement L's total outstanding sharestorewardits outstanding L's total mpany at issuance atissuance pric mpany velopment Investment JointStockCompa- velopment Investment me the totransfer limit one yearafter is presentatives of the Corporation's capital the capital of Corporation's presentatives o Service Corporation (SCS), Dong Nai dong per share. Thisamount of shareis Joint Stock Company (HDP), Phong Phu (HDP), Stock Company Joint of thisamount ESOP shares arelimited Stock Company (SFI), Asia Pacific Invest- Pacific Asia (SFI), Company Stock the shares are limited totransfer in three 2.2 billion dong, issuance rate dong,issuance is 0.22per- rate 2.2 billion million shares priced not less than 10,000 10,000 lessthan million sharespricednot s meetingtheconditio ry which is No VaRealEstate Investment ees, withthe aim to restricted to transfer insixto12months of shares is restricted totransfer in two over 8.4 million shares to 231 231 employees sharesto million over 8.4 shares inthe last three months, such as just one fifth ofthecurrent 29 December 2017 29 /49 createconnec- firmer e of 10,000 e of10,000 dong per ns ofESOPregula- 29 December 29 BUSINESS funds divest MWG performance, foreign Despite healthy finance& business Vietnam IPOpower in firm $289 millionthrough Vietnam plans toraise Intellasia 29/DEC/2017 INTELLASIA| TUOITRE NEWS Additionally, on November 30,HSX announc II) II (MEF the divestme completed Between October12and privat 10, November management ofDragon Capital, gaining In late July, CDHtransferredtwomillion shares tomember MWG underfunds the million) fromdivesting Previously, on October 26, CDH Electric Bee earned more than VND62billion($2.7 Bee Limited's hands, equivalent to0.4pe scheduled 2018, 2-3, for January leaving roug ment aiming at investment cently registered of1.23 to divestatotal As confirmed by the HCMCity Stock Exchange (HSX), CDH Electric Bee Limited re- funds. World Group(tickerMWG)sa After astrong rally of30per cent in stoc 29/DEC/2017 INTELLASIA|VIR precise details. three m sale isexpectedwithin share The cent stakeinthecompany to strategic in In addition to the IPO of those shares, the go at over $2.2billion. That value would EVNGENCO3 the governmentsaid. share, per dong 24,600 priceof aninitial at theIPO through sold be would shares Company said. genera stake instate-ownedelectricity least Vietnam aimstoraiseat debt, but progresshas been slow. es, partlyneed becauseofthe tofundabudg plan divestment its up stepped has state The on Wednesday. offeri public aninitial through tion company genera- shares electricity in an selling million by $289 least hopestoraise at Vietnam mwg.html http://www.vir.com.vn/despite-healthy-performance-foreign-funds-divest- profit target. months of2017,thefirmaccomplished93per mill trillion ($87.8 VND1.9 at revenuephone fromthe retailbusine mobile electronics reta gained fromconsumer nue lion) foreleven of2017, months a posting To date, MWG wasreported to achieve a to ber 27. ($4. price, toVND130,000 from VND102,000 Over the last four months, MWG'sstockshow Hoa Xanh, hasnot yet been unveiled. Bach and Xanh, Dien May for plan thegioididong.com, business However, the specific year. lion ($114.9million), equivale revenueVND86.39 of trillion billion) ($3.8 target andthe post-tax profit ofVND2.6tril- Inparticular,thec 2018. inMarch scheduled presen plan, whichwould be business 2018 On December 19, theBoardof directors (BOD 2.2 million shares. called PYNEliteFundwasno a total of 479,630 shares. of479,630 a total banking restructuring. The divestmentbanking restructuring.is transaction ion), up 38 per cent against 2016. Consequently, foreleven Consequently, 2016. against per cent 38 up ion), 6.57 trillion dong ($289 millio trilliondong($289 6.57 nt to respectively 36.5 and 18.3 per centand 18.3respectively increases per on- 36.5 to nt longer amajorshareholderofMobileWorldafterselling w back-to-backdivestments nt ofthree million MWGshares. tion company EVNGENCO3, the governmentEVNGENCO3, the tion company k price over the pastfour months, Mobile vestors at aprice to be decided later. million shares through anegotiable instru- r cent of Mobile World's charter capital. around VND202bill onths, the government whopping 124 per cent growth inthe reve- il business and 14 per cent growth in centil businessand14pergrowth ted at the annual general meeting (AGM) (AGM) generalmeeting attheannual ted tal revenue of VND58.9 trillion tal ($2.5 bil- revenue ofVND58.9 et deficit and in the face of growing public public growing face of inthe and et deficit onsumer electronics retailer set the target 49-5.73) per share atthe 49-5.73) close on Decem- fromhundredsofstate-owned enterpris- ss. Besides, after-tax profit wasrecorded vernment said it planned to sell a 36 per- a 36 sell it plannedto vernment said ) atMobileWorldGroupapproved of the ng (IPO), the government's website said hly 1.24 sharesin CDHElectric million ed that another fo ed that e equity fund Mekong Enterprise Fund cent ofitsrevenue and91percentofits ed a drastic upturn of 30 per cent in n) byselling a12.8percent from numerousofforeign ion ($8.9million). reign equityfund 29 December 2017 30 /49 said, without giving 29 December 29 BUSINESS Vietnam finance& business Vietnam investors foreign strategic for giant notlooking State-owned rubber in February2018 date Genco 3confirmsIPO Intellasia http://bizhub.vn/markets/genco-3-confir provide abig supply inthe would be sold to strategic investors. Ina According tothe 36per plan, cent ofGENCO EVN. The corporation has avalueofar is VND20.8 trillion, charter capital Genco 3's sue shares to increase itschartered capital. The approved privatisation plan is to maintain its current State-owned capital and is- theprivatisation approving QD-TTg EVN yesterday said deputy prime minist expectstoreceiveVND6 of Vietnam(EVN), pershare.Genc (US$1.08) price ofVND24,600 auction initial the with (HOSE) Exchange Stock on theHCM belisted will The shares inFebruary2018. (IPO) of accounting for12.8 percent The Corporation Power Generation 3 (Genco 29/DEC/2017 INTELLASIA|VNS through-ipo-in-pow https://tuoitrenews.vn/news/ biggest everprivatisationprocess. country's unitofThailand's billion,toalocal $4.84 Earlier thismonth,Vietnam sold a54perc percent2019 andwouldconsider until di Vietnam ElectricityCorporat Deputy primeminister Vuong 29/DEC/2017 INTELLASIA|VIR privatisation togeth Genco 3's East and South Korea,theMiddle pan, Dinh QuangTri, EVN'sdeputy general director strongest unitin been the Genco 3has power plants. It alsoholdsshares at Ba Ria, Ninh Binh, er plants. Tan 2and MongDuong1thermo-power plan My4powerplants; Vinh Phu 2.1and2.1MR, PhuMy 1, beenoperatingPhuMy It has billion. VND246 reve 3'stotal By theendof2015, Genco system. for accounting of6,304 MW, It hascapacity Genco 3isoneofthethreepower genera lenders. with negotiating and debts its inrestructuring the were successful and corporation would divestEVN its capital atGenco3tole labourers. sold to would be of itsshares per cent 0.16 Some as well transferring new technologies, privatisation in port toGenco3afterits The investorsneed tohavecommitmentin ing ajointventure with another investor vestors are required to haveability of management and power plantoperation or be- Of theremainder, more than 475 million shar shares), thestatewill retain 75 per cent or three billion shares. Accordingly,(VRG)'s VND40 the group of be will domestic earmarked tered capital for Vietnam RubberGroupunder whichmore owned er-firm/43355.html auctions ofState-owned fi ion wouldmaintainits owne business/20171228/vietnam-pl er with Binh SonRefinery,PV Powerwould er with PVOiland its charter capital, up for sale in its initial public offering offering public initial inits charter for sale up its capital, Dinh Hue just approved the Hue justapproved Dinh plan ofGenco plan 3 one dayealier. EVN's power generation corporations. improving management and financial capacity andfinancial improving management nue was VND28.5 trillion VND28.5 and profitwas nue was ound VND52 trillion($2.3billion). ound VND52 Thailand were meeting with thegroup. meeting were Thailand beer magnateThai Beverage (ThaiBev),inthe ms-ipo-date-in-february-2018_291052.html tion corporationsunder EVN's management. ddition tofinancialcapa whose have the above skills, EVN said. skills, EVN above whosehavethe Thu Duc, Thac Thu Ba andVinh SonSongHinh human resource training and fuelsupply. vesting further, thegovernmentsaid. er VuongDinhHue signed Decision 2100/ ent stake initstopbrewer Sabeco, worth writing forlong-term cooperation and sup- trillion chartered capital (four billion 16 per cent of the country's total electricity electricity ofthecountry'stotal 16 percent .6 trillion ($290.7IPO. million)fromthe.6 ss than controlling level after 2019 if EVN ifEVN controllinglevelafter2019 ss than strategic partners, but notforeign ones. 51 per centofwhichwillbe owned by ts; TuaSrah, Kuop, Srepok 3hydro-pow- 3) will put more than more put 3) will 3's charter capital or 749.1 million shares million 749.1 capital or 3's charter es (11.8per cent ofthe charter capital) o 3, whichis fully said many potential investorsfromJa- saidmanypotential than 11 per cent of the group's char- the group's percent of 11 than rms inthecoming rms months. rship of EVNGENCO3 at at 51 rship ofEVNGENCO3 ans-to-raise-289 million- ans-to-raise-289 equitisation plan of state- 29 December 2017 31 /49 owned byElectricity city, the strategic in- 267million shares, 29 December 29 BUSINESS Vietnam finance& business Vietnam given green light VRG equitisation plan Intellasia investors.html http://www.vir.com.vn/state-owned-rubber-giant-not-looking-for-foreign-strategic- and inVietnam (300,000ha tationarea VRG wasreported topossess ahugeland fu trillion ($45 million) by 2020. produc agricultural high-tech into sources hectares of land inareas with plots comfortable transport andproximity towater re- Its initial public offering (IPO), which was scheduled for last July, was delayed due to due delayed was July, last for scheduled was which (IPO), offering public initial Its lion) by 2020. tech agricultural production cl and with good transport land inareas of at fa IPexpansion engage insecond-phase effectively expl to aims VRG 2016-2020, During ofVND9 profit intherange revenue surp the withtotal during period, achiev targets It for2016-2020. plan business Earlier, inNovember, the primeminister tosell. decide partners the the if back strategic shares inbuying have priority The strategic partners mustholdVRGshares auction. the public and be responsible for choosing the group's do authorisedtheagriculture minister The prime inthe ative sale. IP insecond-phase engage effectivelyexpl to aims VRG 2016-2020, During range of VND9 trillion VND4 surpassing revenue total the period,with toachieveanaverag isset VRG Accordingly, and businessplan for 2016-2020. theprimemini Earlier, inNovember2017, terwards. themback inbuying havepriority will state be will partners subject to The strategic mestic strategicpartners(b ment toapprovethe selection criteria and be responsible for choosing the group's do- The prime alsoauthorisedminister the mi ative inthe stale. istry of Agriculture andRuralDevelopment is auction public the priceat The starting ployees and0.02per cent toVRG's Trade Union members. istry of Agriculture andRuralDevelopment is auction public the priceat The starting VRG's trade union. to be sold will shares, curren ly 49 million st to domestic exclusively besold cent will cent ofcharter capital, will cent, or 3billion shares. Ofthe remainder, 75per retain theState will inchartercapital, billion) ($1.76 trillion VND40 Of VRG's charter capitalisearmarkedfo State-owned Vietnam RubberGr Deputy primeminister VuongDinhHue has Foreign strategicinvestorsexcludedfrom 29/DEC/2017 INTELLASIA| tegic partners,and 1.22 per ce be soldthroughpublicauction,anotherwill VN ECONOMIC TIMES ($409 million)by2020. ($409 be soldthrough a public auction, while another 11.8 per ut notforeignones) after fi expansion at favourable loca zones, with revenue surpas million) by2020. trillion ($409 nt (nearly49million shares) wi r domestic strategic partners. oup (VRG),under whichmore than 11 per centof 120,000ha inLaosandCambodia). 120,000ha holding VRG's holding VRG's shares for fiveyears and the set at VND13,000 ($0.59) apieceand ($0.59) the setatVND13,000 Min- set at VND13,000 ($0.59) apieceand ($0.59) the setatVND13,000 Min- approvedVRG'sfive-yearproductionand t employeesto membersof 0.02 andt cent per sale of Vietnam Rubber Group shares. Group sale ofVietnamRubber rategic partners.Some 1.22 percent,ornear- vourable locations, and turn about 5,000 ha ha 5,000 about locations,andturn vourable more than 475 than475 million shares, or11.8per more nister of Agriculture andRuralDevelop- tion zoneswith revenue surpassingVND1 ster approved five-year ster VRG's production assing VND40 ose proximity towater resources into high- nd consistingof420,000harubber plan- e annual growth rate of 18 per cent during per cent e annualgrowthrateof18 11.8 per cent will be sold to domestic stra- domestic to besold will 11.8 percent ing average annualgrowthof18percent if the strategic partners decide to sell af- tosell decide partners thestrategic if (MARD) will act as the state's represent- as the (MARD) willact (MARD) will act as as act will (MARD) approved the equitisation plan ofthe minister to approve the selection criteriaapprove theselection minister to for atleastfive years and theState will mestic strategic partners afterfinalising mestic strategic oit its existing industrial parks parks (IPs), existingindustrial oit its parks (IPs), existingindustrial oit its 0 trillion ($1.8 billion) and profit in the in the profit and billion) ($1.8 trillion 0 nalising thepublicauction. tions, and turn about andturnabout tions, 5,000 sing VND1 trillion ($45 mil- ($45 trillion VND1 sing trillion ($1.76 billion) and ll be sold tocurrent em- 29 December 2017 32 /49 the State's represent- State's the 29 December 29 BUSINESS Vietnam finance& business Vietnam flights additional 3,000 see New Year holiday to year passengers this transport 94 million Local airlines Intellasia gers-this-year.html http://english.thesaigontimes.vn/57742/Lo development demand. logical innovationand service quality,and ensu ACV, VATM and VietnamAirlines pledged service providers inAsean. the said sector tried tomake has (CAAV), http://vneconomictimes.com/article/business predictable impacts of climate change. indu despiteon-year increaseof47percent, has targeted earning VND4.2 trillion($184.8mi At the ceremony, DinhViet Thang, director airlin international 20 members. Especially, members of the Gold sectors are the Golden Lotus Programme's pa te inaviation, 80establishments than More app for smartphones in 2013 andaround-the- regi membership theonline launching by ogies improved servThe nationalflagcarrier has business miles, bonus as such incentives class lounges, its and priority check-in. to thanks passengers of number large a ed VietnamAirlin Launched inDecember1999, workers. high-skilled trained and airlines, for costs imise ThienHue province's Phu BaiAirport (335 fl City's TanSonNhatAirport ( Flight routes with ad Year)Holiday. New namese coordinated withagencies of year, asit cent againstlast vanced technologies,and operated has safely ad- and equipment modern infrastructure, in heavily invested has VATM Meanwhile, upgrade and expand airportswithmodernfacilities. ACV hasimplementedsolutions to numerous tonnes, up19 percent year-on-year. 16 percent versuslastyear while the volume passengersAC passingthroughof The number member of the Golden LotusProgramme day, carrying the 94millionthpassenger, Ng City fromHCM Flight VN220 Management Corporation (VATM)carryingth the800,000 celebrate to Airport International Airports Corporation ofVietnam(ACV)on 29/DEC/2017 INTELLASIA| THE SAIGON TIMES mo non-trading units,collecting tw in stakes sold successfully year, VRG Last inthefuture. profitable highly and vantage the 420,000 haoflandVRGhasinVietnam, minister ofAgriculture uty Stat that to ensure was "Thedelay (SAV). the government'srequestthat the compan This was being done in order to satisfy the in orderto being done This was fromand seats on 22routes to 18 domestic airports. 26,had Airlines, December registered to by 29/DEC/2017 INTELLASIA|VNA ditional flights and seats include es after VietnamAirlines joined hastaken measures to enhanc and Rural Development Ha Cong Tuan said, adding that adding that said, Tuan Cong Ha Development and Rural the MinistryofNationalDefens 790 flights/158,000 seats), Ta seats), flights/158,000 790 to HanoilandedatNoiBaiInternationalAirportyester- re than VND2.9 trillion ($12 re than VND2.9 e capital in the company was protected," dep- company wasprotected," in the e capital Vietnam one of the four leadingaviation one ofthe Vietnam of Vietnam Airlines, Nguyen ThanhSon. Airlines, of Vietnam cal-airlines-transpo y be audited by StateAudit of Vietnam lecom, finance, banking,tourismandhotel rising traveldemands en LotusProgramme can earn mileswith ice quality and adopted advanced technol- ice qualityandadopted of the CivilAviation increase nearly 3,000 flights and 582,000 increasenearly3,000flights and 582,000 Laos, andCambodiacould be a huge ad- December 27 held a ceremony at Noi Bai December Bai 27held a ceremony at Noi ights/67,000 seats), stry forecasts of challenges duetotheun- to boost cooperation, investment, techno- th flight managedby o ofits subsidiariesand divested from 24 ofcargohasreached es' Programme attract- Golden Lotus has uyen Van Huynh, and the 1.5 millionth 1.5 the uyen VanHuynh,and /vrg-equitisation-pl flights,increasing per- over 800,000 10 improve its management capabilityand improveits rtners, bringing diverse incentives for clock customer care centre thisyear. stration service in in service stration llion) in pre-tax profits this year, ayear- year, this inpre-tax profits llion) e 94millionthpassen re flight safety tomeet the air transport V's V's airports yearhasincreasedby this Hanoi's Noi Bai Airport to HCM Hanoi's Noi AirporttoHCM Bai the SkyTeam theSkyTeam in2010. alliance e its capacity. Ithas also n Son Nhat Airport toThua 7.6 million)inreturn. It e tooptimiseflights,min- rt-94 million-passen- Tan Son Nhat Airport Tan Son Authority ofVietnam 29 December 2017 33 /49 an-given-green-light 2009, a Golden Lotus aGoldenLotus 2009, during the Tet (Viet- theTet during Vietnam AirTraffic Vietnam nearly 1.34 1.34 nearly million ger of this year. 29 December 29 BUSINESS Vietnam finance& business Vietnam tourism revenue contributeof half International tourists Intellasia Vietnam's national tourism authority is pl hot four-star 259 hotels, five-star to25,600 with more than of suchplaces number thetotal raising service, into tourists are put to accommodation offering places This year also witnesses strong growth in tourist lodging facilities when 1,000 more (up 6.38 million tourists milliontour 9.87 percent), 19 international touris moreCity havewelcomed Tourist hotspots ofthe country such as internat the country hascateredto13 million number of over tenmillion intern According tothe National Admini Vietnam comes from pure tourists. Of suchanamount, whichis VND110 trillion billion. trillion, $22.5 or roughly VND510.9 year but contribute up to58percent of total tourism revenue, which amounts to fo account to Vietnam tourists International 29/DEC/2017 INTELLASIA| THE SAIGON TIMES riers' operations and service supplies.Theref "All airports have their qual ownservices flights. previous of werethe due thelate arrival to flights theagency'sdata shows that Moreover, cancellations. and delays for reasons the main as airports' poorfacilities,citedunder VAA, attheevent,BuiMinhDang,Speaking depu Holiday, Tet the during lations releasedThe informationwas ataconference higherthantheworld's in 2017, aver rate another development,thepunctuality In Airlines asked toreduce delayed, cancelled flights authorised offices. ed that passengers accessinformationrega arestill holiday Tet the during flights tic According to Vietnam Aviation Administra periodlastyear. to thesame percentof 15 andincrease seats million 4.1 the lunarcale first monthin the (the 14th to February4,2018 30 January From Nhat Airport to Thanh Hoaprovince's Tho Airport toNghe An province's Vinh Airpor Nhat Airport to Da Nang Airp to KhanhHoaprovince's Cam Ranh Airport 124050.vnp https://en.vietnamplus.v reduce delayedcancelled and flights du operation,to improvetheir"Carriers have Tet holiday. agencies, by all means,tore rights assurance in case of delays orcanc incase of delays assurance rights Le Dinh Tho, deputyminister ofTransport, poses. Flights aredelayed or cancelled onl pur- of commercial because flights tonot cancelling committed is Airlines "Vietnam ofacarri factors important prices as Trinh NgocThanh, deputydi and cancelled flights based on 22.88 percent) respectively. 22.88 percent) n/new-year-holiday-to-s duce delayed and cancelled flights, especially during the the during especially flights, cancelled and delayed duce ists (18 percent),6.07 million rector of Vietnam Airlines rector ofVietnam ort (262 flights/51,000 seats) flights/51,000 ort (262 flight schedules," he said. ndar), airlineswill hosted byVAAonDecember 27. els, and488 three-star hotels. ational tourists in 2016, this in tourists anewrecordas year sets ational 2016, er, besides safety andservice quality. age percentage of75 to 79 percent. Danang, Quang Ninh, KienGiang and HCM 508,000 guest rooms. Of these, there are 116 116 there are guest rooms.Ofthese, 508,000 e tosubjectivereasons," headded. 67 to 68 percent 67 to68percent of cancelled delayed and available. Therefore, the agency recommend- agency the Therefore, available. ity managementdepartmentstomonitor car- ellations. Healso aske flight managementflight systems the weather and anning tocarry out flight managementandhuman resources to y duetosafety requirements," he said. flights and 19 percent of seats, as compared compared 19percent ofseats, flights as and rding flights and tickets via the airlines' via theairlines' tickets and flights rding emphasized thesignificanceofpassengers' Xuan Airport (182 fl (182 Airport Xuan t (185 flights/36,000 seats) and Tan Son Tan and seats) flights/36,000 (185 t stration ofTourism,after therecord of head theTransportationDepartment ty tion (VAA),70percent of seats on domes- r only one-sixth ofdomestictourists this r ore, they can identifyore, they (324 seats)andTanSon (324 flights/66,000 ional and 73.2 million domestic tourists. on solutions to flight delays and cancel- flight delaysand on solutionsto higher than last year's figure, 90 percent figure, 90 year's last than higher day of the lastmonth of day to the the 17th day of of airlinesinVietnam was87.7 per cent ts this year, with 6.6 million tourists (up (up tourists million 6.6 year, with ts this ee-3000-additi operate 22,300 domesticflights with operate22,300 , stressed on punctuality and tourists (up (up 7.8 percent) and tourists , as well as Tan Son Nhat , aswellTanSonNhat many promotion and onal-flights/ d airlines andrelated ights/37,000 seats). ights/37,000 29 December 2017 34 /49 causes ofdelayed 29 December 29 BUSINESS Vietnam finance& business Vietnam foreign visitors record 13million receives Vietnam Intellasia Dam asked the Ministry ofCulture, Sports and theme parks. Thesewill be key projects for the sector inthefuture. tourism products toaccommodationfacili from manythings, lacks sector still tourism Vietnam's said PM deputy the However, nam's tourism. and airticketservices on the internet, help nology. Internationalvisitorsare more active Quocdirector Ky,general ofVietrave Nguyen improvin into operation, been put although notasmuch asexpected. Manymo Dam saidthe transport infrastructureand tourism environment havebeenimproved shortening thetime of licensing. werealso to Vietnam tourists International policy. averyopen have tourism visa Vietnamese tries. with are Countries that competitive visa exempt the expansionofthe Tuan said per country, especiallyfromtheUK grew toVietnam ofEuropeantourists number According to international travel companies, Nguyen VanTuan, head of the VNATsaid. trieswereconsidered increase to thecompetitiveness inattracting foreignvisitors, and 2017 visa exemption for Vietnam inearly In addition,thepilotimplemen tourism promotion activities,includ terprises participated in international trade fairs ontourism andimplemented online Vietnam Nati promotion activitiesofthe due partly to positive in2017 inwas thetourism growth the strong changes said Dam billion). (US$22.4 trillion atover VND510 estimated was tivities tr million domestic therewere73 2017, In hesaid. world in2017, nam ranked sixth inthe10tourism destinat The positionofVietnam's tourism industry sectors. the developmentofother and promoted the service sector the growth of to tributed on Tourism Tuesday thatthestrong result Deputy primeministerVuDu said. Visitors from China 48.6 numbered 4million, fromAfrica. people 35,900 and ple fromEurope, people fromthe 817,000 countrycent.increase of34.4senting perpeo- The received1.8 ayear-on-year million The foreign tourists toVietnam this year in etnam onland. About 258,800 visitors by arrived tourists 10.9million total, Of the th to according cent, per 29.1 of 12.9 millionforeig Vietnam receivedarecord 29/DEC/2017 INTELLASIA|VNS world, andtheorganising ofroadshowsin personnel trainingactivitiesne ism-revenue.html http://english.thesaigontimes.vn/57746/Inte mestic tourists nextyear.Italsota The expects 15.5-16milli country to attract to Vietnam toexplore local tourism products anddestinations. International andNewZealand. trav Australia c Damsaid at ameeting of the State Steering Committee tation ofelectronicvisasforci xt year,including attending 13 travelfairs around the e General Statistical Office (GSO). rgets VND620 trillion in tourism revenue. g the quality of tourism products. , Germany, France, Italy and Spain. Italy France, , Germany, ing viasocial networking sites. came to the nationbyseaway. onal Administration of Tourism (VNAT). En- Administration ofTourism (VNAT). onal avellers and total revenue from tourism fromtourism ac- revenue andtotal avellers ing them gain more information about Viet- gainmoreinformation ing them ties, tourism humanresources, museums Americas, 420,900 visitors from Australia, fromAustralia, visitors 420,900 Americas, on international tourists and 78milliondo- Europe, Russia,China, ion policy has been adopted by many coun- by ion policyhasbeenadopted and Tourism and the tourism industry to industry thetourism and Tourism and cluded 9.7 millionpeop attracted bysimplifiedentry procedures, plane while 1.8million people came to Vi- rnational-tourists-cont ions with the fastest development in the the in development the fastest ions with also increased on theworld market. Viet- dern andhigh-class tourism projectshave n visitors in 2017, a year-on-year increase year-on-year a 2017, in n visitors in finding travelinformation, room rates thanks to thevisaexemptionpolicy, s of the tourism industry thisyearcon- s ofthetourism per centhigher than lastyear,theoffice citizens offive Western European coun- rapidly at an average of 20 -30 per cent el agents andmediawill also invited be l, saidanother important factor istech- tizens of 40 countries into countriesinto tizens of40 29 December 2017 35 /49 Japan, SouthKorea, ribute-half-of-tour- le from Asia, repre- Asia, le from 29 December 29 BUSINESS Vietnam finance& business Vietnam goods surges Valuesmuggled of workforce fourthsIT of make up nearly three- Website developers Intellasia fourths-of-IT-workforce.html http://english.thesaigonti ating in the ITsector in Vietnam. TopDev conductedthesurvey onmore than raise wagesfor their staff by 6percent to20percent next year. According tothe report, two-thirds ofrecr sitions. Moreover,IT enterprises haveofferedanav permonth. ceiving $1,575 strengthened the investigation andassessme inspection in key areas such asborders, Quang said, adding that they had also From nowuntiltheend oftheyear, the GD Khanh Quang, deputy head of the products but smugglers are usingincreasingly and customshavebeen "The police,army seizure ofthesmuggled goods. to billion wascontributed VND334.8 than More million),amassive surge (US$34.6 However, the smuggled goods were estima ed yesterday atapress conference held inHanoi. of 1.97 per cent from 2016, the general De casesofsmugglingandtrade 15,200 Nearly 29/DEC/2017 INTELLASIA|VNS highest among ITworkers, Besides, machine learningengineers'mo $1,325. with analysts tors have also been paid high salaries fer iOS and Androidoperating systems, so experienced workers involved inthesesec- are stillindire need of programmers. More The Vietnamese MobileDev markethasretain skills havebeen offered the sector hashighdemand,showsthatbigdata positions forThe report, whichthe and salary levelsofprogrammers whichfocuseson TopDev. jobs website forIT ment technology (IT) workforce, at74.8percent, the largestWebsite developersaccountfor 29/DEC/2017 INTELLASIA| THE SAIGON TIMES visitors_291056.html http://bizhub.vn/news/viet-nam-rec VND620 trillion. and serve 78 million domestic visitors. Th thetourismindustry In 2018, aims to welcom destination. and intoasafe friendly Vietnam onturning focus forces from handling violat forces from maytake which to testdrugs, has theright For example, only the Criminal Science Instit said. Quang difficulties, encounteredmany also authorities Customs individuals whoofte enterpri import-export areusually "Offenders chinery, refrigerators, food and many liquor, oi foreign gold, wood, animals, wild "The mostcommonillegallytraffickedprod The GDC would alsoincrease the implementa on smugglers. penalties and wereimposing strict trade fraud and n cross borders". n cross mes.vn/57752/Website-develo ion casesinatimely manner. followed by development an development by followed highest salaries thisyear. GDC's Anti-smuggli of 89.5 per cent year-on-year. cent per of 89.5 eives-record-13 million-foreign- , $1,212 a month on average, amonthon after average, , $1,212 big data other types ofgoods,"Quangsaid. nthly wages have mountedto$1,576, the partment of Vietnam ofVietnam partment e industry hopestotalrevenue willreach fighting smuggling, trade fraud andfake tradefraud fighting smuggling, 20 to 30 days of waiting, hindering customs customs hindering waiting, of 30 days to 20 uiters surveyed by TopDev haveplansto than 60percentof mobile usersservice pre- according to a report ofVietnam's recruit- proportion ofVietnam'stotalinformation erage of $2,721 monthlyformanagerialpo- erage C would be reinforcing patrol teams and teams bereinforcing patrol C would ted tobe worth nearly VND800 billion l, minerals, cigarettes, automobiles, ma- automobiles, cigarettes, l, minerals, ucts includedrugs,weapons, documents, analysts and those with analystsandlearning with machine those fraud were uncovered in 2017, a decrease fraud wereuncovered adecrease in 2017, ute under the Ministry of Public Security ute undertheMinistryofPublic nt capacitiesinhot 5,000 candidates and 300 recruiters oper- recruiters 300 and candidates 5,000 e morethan15.5million foreign visitors tion ofpost-customsclearance and inter- ses, people livingnear border areas and sophisticated techniques," said Nguyen said Nguyen techniques," sophisticated ed itsedgrowth enterprises thisyearand the State budget this year through the the year through budget this State the pers-make-up-nearly-three- ng Department. d operationsemployeesre- Customs (GDC)report- spots of smuggling 29 December 2017 36 /49 29 December 29 BUSINESS brand promotes Vinh orange Nghe AnProvince finance& business Vietnam worth $789million goods for Tet goods City HCM prepares technologies new firms to access Hanoi supports local Intellasia capital withpreferential inte many firms expressedtheirhopetoreceiv As industrial enhance especially ing, Local businessesare advised toraise thei and 50firms tobuild their own brands. In recentyears,thecityhasissuedvarious portal, aswellconnectlocal firmswith The department hasworked tointroduce Ha Trade. Industry and tiveness, saidTranThiPhuongLan, deputy Hanoi hashelpedlocalbusinessesaccess to 29/DEC/2017 INTELLASIA|VNS fruit inVinhCi gin ofthis indication oftheVinhoran The geographical Europeanported toseveralEast markets. The Vinhorangeisknownforitsgoodtaste "The Vinh orange is now anational brand was successfullydevelopedwith geographical indication. the firstfarmingnology, productoftheprovince,was saidthattheVinhorange which Tran QuocThanh,directoroftheNgheAn ange Fair 2017inVinh City to promote theVinhorange. The People'scentral Committeeof NgheAnProvinceOr- onThursday openedthefirst 29/DEC/2017 INTELLASIA|VNS http://bizhub.vn/news/value-of-s thetrackingandidentificati support ciently He added thatcustoms agencies had increase sectoral cooperation toprev 20-30 per cent against the volume centagainstthevolume last year per 20-30 The volumeof preparedgoodsfortheTet 29/DEC/2017 INTELLASIA|VNS http://bizhub.vn/news/nghe-an-province tional markets. sales the promoting aimed at The fairalso Vinh oranges were displayed atmore than 40 kiosks at the three-day fair. ange brand would helppreventthis. He saidthat an enhanced market watch,to he said. different localiti orangesgrownin was that helped increaseth the brand said that Thanh Thanh. Chuong,and Yen TanKy districts, namelyQuy Hop, NghiaDan, C 124046.vnp https://en.vietnamplus.vn/hanoi-support plying scientific andtechnologicalad However, businesses need totake theinitia accelerate administrative re will continue helping enterprise join trad Hanoi People's Committ To help local businesses get a year. this billion USD) (13.2 and to figu USD) local in2016 the businesses Credit institutions in Hanoi of Vietnamtoestablish linksbetween ba ee Nguyen Doan Toanee Nguyen ty, was developed since 2007. Th developedsince2007. ty, was form andexpand production. provided loans worth 233.73 loans provided ent and detect trade fraud. detect ent and rest, local authorities havec ccess to the fourth industrial revolution, vice Chair ofthe Chair vice revolution, ccess industrial to thefourth muggled-goods-surges_291055.html application inmanufacturingprocess. vances inproduction, Toanadded.- nking andbusinesses e promotionactivities,promotetheirbrands, -promotes-vinh-orange-brand_291042.html Vietnamese trade officesinforeignVietnamese countries. s-local-firms-to-acce r competitiveness and promote brand build- r competitivenesspromote and on Cuong and Nghi Loc, as well asThanh decisions toencourage 20 (Lunar NewYear) holidayhasincreased by (Lunar of the Vinh orange in domestic and interna- and Vinh orangeindomestic of the , according to HCM City DepartmentofIn- and is protected nationwide," Thanhsaid. ProvinceDepartmentofScienceandTech- gether with thepromotion oftheVinh or- es were wronglylabelled asVinhoranges, on ofsmuggling activiti tive inpopularisingtheirproducts andap- tive new technologies and raisetheir competi- re increased to more than 300 trillion VND trillionVND re increasedtomorethan300 directorof the municipal Department of e value of the fruit. However,problem thevalue of the e and quality, and in the 1960s, it ex- it was inthe1960s, and quality, and noi's goods andhandicraftson its online e support from local authorities to access support from localauthoritiesto e ge, which indicates the geographical ori- geographical the indicates ge, which d the use of high-tech equipment to effi- use ofhigh-techequipmentto the d affirmed that authorised authorities ooperatedState Bank withthe trillion VND (10.3 billion e orange is growninseven e orange ss-new-technologies/ sectors, Lan added. 29 December 2017 37 /49 es onalargerscale. local craft villages 29 December 29 BUSINESS Vietnam finance& business Vietnam Tet prepare farmers for Mekong flower Intellasia busy their gardens. busy with the fruitisproduced inonly one crop a year and harvested right at Tet, farmers are ofpinktangerinesinLai In the"kingdom" said. he farmers, Hopefully, from now untilthe LunarNewYear perkilogramcompared 7,000 VND prices wereabout16,0 said mango city, La VanHung,head of the DuyTanHoi The recent fallin mango prices is thetrees' upproduction hesaid. cost and affects push health, Farmersstrived have to findto maketh ways somed earlier than planned, and the mang month. Therefore, an extra lunar has Nguyen VanNam,inLongTruongAcommune Tet. ince's Chau Thanh district,farmers pa have province's CaoLanhcity, Tien Giang provin th in areas cultivation mango the main In said. weather, he weather to aswellprep pests prevent However, the agricultural sector regularl cent months was relatively good for the development offlowers. Planting flowers depend muchontheweather, symbols as th 12 lunar animal turing the Besides traditionalflowersand bonsai, farm potted lion flowers this Tet. mil- eight about tothe market supply will district the in farmers flower said disctrict, agricultureof theheadDr BuiThanhLiem, plained. Timely blossoming will made it easy for the flowers to besold andenjoyed, he ex- in their flower farming so that their flowers canblossom on time at Tet. flower farmers,because households inthevi province'sone ofthe flowervillages,said Thoi commune Long Nguyen ThanhDaofrom for ucts inpreparation Tet (Lunar New Farmers intheMekong Delta are busy with 29/DEC/2017 INTELLASIA|VNA http://bizhub.vn/news/hcm-city-prepa in themonths before andafter Tet. The city hasalso taken steps tocontrol pric the months before Tet. The department has worked with enterprises ablesupermarkets. at The city will ensure thatsufficientnumber sales ofpotsthetraditionalyellowochna Consumption ofcakes, jams drinks willbe around 41.1 In themonthsbeforeTet,departmentpr gramme. This is the third yearenterprises havetaken part inthe city's market stabilisation pro- million) for goods in the city's market stabilisation programme. million), was trillion nearly VND18 (US$789 Nguyen HuynhTrang,the department's depu dustry andTrade. million_291040.html million litres and 47.2 million litres, respectively. litres, 47.2million litres and million and candiesisexpected tobe around 18,000 tonnes,and anotherworrying trend forfarmers. to the same period last year. fruits willbe ripe before Tet. res-goods-for-tet- 00 VND per kilogram, a reduction of5,000- reduction kilogram, a per VND 00 Year) holiday, which falls on February 16. February holiday, whichfallson Year) are measurestocope with unfavourable Quan Club in Hoa An commune, CaoLanh ere ishigh demand forthem, he said. y recommends farmers to closely monitor the e CuuLongDelta, includingDong Thap Vung dictrict ofDong province, Thap where "The closer toTetholiday, the busier for es ofessentialgoodstoprevent price hikes trees are expected toreach600,000-700,000. treesareexpected o trees atsome mangogardenshaveblos- of vegetables, fruit andmeatwillbe fruit avail- of vegetables, id great attention to their mango cropsfor their id great attentionto and rural development officeofChoLachrural and edicts thatconsumptionofbeerandother ers willfocus on makingmore bonsai fea- their flowers and otheragriculturalprod- llage havepoured money,time and effort ce's Cai Be district and HauGiangprov- Be district Cai ce's includingtrillionmore thanVND7 ($307 e mangos ripen right at Tet, but this will Tet,but e mangosripenrightat and distributors to offer promotions in distributors tooffer and ty head, said the totalvalueofgoods in BenTre province's Cho Lach district, he said, adding that the weather in re- in weather the that adding said, he , mangoprices will move up tofavour ofHauGiang province, saidthisyear goods-worth-789 29 December 2017 38 /49 29 December 29 BUSINESS Vietnam finance& business Vietnam market forMHI significant growth Vietnam seen as services carriages for Tet More upgraded train Intellasia opened anoffice inHanoiNovember 2 (MHPS), Systems Power Hitachi Mitsubishi emissions standards forcoal-firedother thermal andpowerplants. cont air quality and percent 63 level ofover efficiency highest world's the achieve which turbines gas J-series including market, MHI saidit has a wide range of thermal 2. No. Unit Plant ThermalPower Mon and O 1 No. Unit Plant Thermal Power bines atPhu My 1CombinedCycle Power Pl scale thermal power systems in Vietnam. Th In addition to power generation sets,MHI Asia as a familiar and key market for MHI. tivities in Vietnam, saying CEO Shunichi Miyanagamentioned the cong jour theparticipating with aroundtable At ice fordiesel power generation sets. include MHIEngine System Vietnam CoLtd which provides sales and after-sales serv- ai and777 forBoeing737 parts which supplies He said this year marks the 10-year anniversary of MHI Aerospace Vietnam CoLtd shipbuilding, including fields, MHI, of spokesperson focus," saidthe major "We seeVietnam as asignifican Japan. c into the togetaninsight journalists tional on capitalise Dail the with interview emailed inan market further to seek will and eval how MHI shared An MHIspokesperson Asia for plan growth opportunities in this growing Asean market. conglomerate's Japanese the Mitsubishi Heavy Industries 29/DEC/2017 INTELLASIA| THE SAIGON TIMES Vietnam Railways has put into use an additi 29/DEC/2017 INTELLASIA| DTI NEWS https://en.vietnamplus.v said. to enableth as well techniques applying Agricultural and relevant agencieshavesu the trees weredeaddueto many In addition, Tetdueto may ripen this before But according toLaiVungPinkTangerine es.html http://dtinews.vn/en/news/ CityfromDecember16. and HCM automatic use into put also Railways Vietnam line in2015. the first5-star launched Vietnam Railways occasion. Holiday the Tet ing These carriageswill tioning from their seat andthereare foreachseat. TVs ment. The luggage shelves are alsowider. Pa equip- charging with mobile integrated is which lamp passenger has Each a reading mise noise. num andthewallsinside trains have b modern andcomfortablefacilities. Carriage The carriages are made fromhigh-quality mand routes during thecoming Tet Holiday. serve theHanoi-Hue, Hanoi-Vinh n/mekong-flower-farmers- the investment has been successful. He described Southeast Southeast He described has been successful. the investment 018/54495/more-upgraded-trai (MHI) has underscored the significant role of Vietnam in Vietnam of role the significant underscored has (MHI) power generation and aerospace. t growth marketfor us going forward, and it will be a year havinganextra lunar month. powersystemsfor suitable theVietnamese 016 in response to the growing demand for the growingdemand to 016 inresponse nalists in the media trip, MHIPresident and reinforced steel. They are equipped with een replaced with new materials tomini- onglomerate's facilities express trainserverailwaynorth-south the e fruits to harvest atTet,the cooperative e fruits to harvest gardens atmany fruits the Cooperative, has delivered a total of 1,750MW has of delivered atotalof1,750MW large pported farmers incontrolling the disease rol systemsthatcan help stringent meet floorswere built with anti-noisealumi- a joint venture between MHI and Hitachi, a jointventure betweenMHI onal 30 high-quality ca 30high-quality onal ese comprised of four gas and steam tur- steam and fourgas ese comprised of ant, boilers and steam turbines at at O Mon ant, boilersand steam turbines y afterarecent triporganised for interna- whichactiveis inavarietybusiness of impact of recent impact of ssengers canalso easily adjust air-condi- uates the potential of the Vietnamese oftheVietnamese thepotential uates lomerate's business and investment ac- rcraft. MHI's operations inVietnamalsorcraft. MHI's ticketat stati gates prepare-for-tet/124054.vnp and Hanoi-Lao Cai and Hanoi-Lao dur- routes n-carriages-for diseases ontrees,it said. ons inHanoi,Danang 29 December 2017 39 /49 in different partsof rriages for high de- 29 December 29 -tet-servic- BUSINESS Vietnam finance& business Vietnam operation system putinto rooftop solar power Vietnam's largest solution begins in VN online freight First Intellasia logistics. making NewPo nually, complete, emissions Once thesecond phaseis solar energy system. to1. capacity bring total sqm to of 60,000 In thephase second oftheproject,solarpower systemwillbeinstalledonanarea tonnes, saidNguyen Thanh Son, director of the NewPort-Song ThanICD Company. year, a billionVND than 14 more power, The system is expected tosaveabout 4.5 http://bizhub.vn/tech/first-online-frei nam, itisaround25per cent ofGDP. leve the averageworld of that is double nam According totheVietnamLogistics Association, Internet ofThings, and help will serviceprices. reduce atatime beimportant will Such a system and customs services. systemThe supportslogisticsall services, including domestic,transportation sea,air problem. any with deal the system, and update situations through SM clos through informationalgraphics, routes prices, book orders online withintwominutes,manage orders and transportation With thesystem, customers will be able to enterprises'crease competitiveability. willThe system ensuresafetyand security an booking and orders management system inHCMCity. The IfreightJoint-Stock onWednes Company 29/DEC/2017 INTELLASIA|VNS As partofthisplan, intellig pressways, whichinvolve the construction of cember 2008, theVietnamese government annou tran in opportunities exploring also is MHI country. inthis systems thermal power ber of renewable energyber ofrenewable solutionpr The system, with capacityof500.96kWp, ince. Song ThanInlandClearance operation at The first phaseof thelargestrooftop solar 29/DEC/2017 INTELLASIA|VNA The demonstration was succe developETC systemto anew stration project Corporation toconductademon- Sojitz VietinBank and collaborated with and nam MHI hasworkedwiththe directorate forRoad vanced trafficmanagementsystemsgoing forward. gressive introductionof trafficcontrol,el orderand toenhancesafetyin expressways for-MHI.html http://english.thesaigontimes.vn/57747/Vietnam-seen-as-significant-growth-market- shipsState-owned enterprises with like EV ships with governments and industry in th MHI iscommitted tolong-ter viding various traffi nam. In addition tohighway to City-D HCM be introduced on the55-kilometer and antennas on-boardETC to for units attollgates, use 50,000 hasalsosupplied MHI c related information. rt-Song Than ICD Vietnam's pioneer incleanpower and green ent trafficsystemtechnologyis m partnerships inAsia, an ssfully completedin2016. ssfully ll collection, thescalable system isalsocapable of pro- ovider SolarBK,infourmonths. ght-solution-begins and reduce annual CO2 and annual 500 emission reduce over by 150 MWp,making it Vietnam's largest roof percent of the port's monthly expense forthe port'smonthlyexpenseof percent ectronic tollcollection (ETC), andother ad- has been constructedby SolarESCO, amem- Depot (ICD) insouthernBinh Duong prov- power systeminVietnamhas been put into of the fourth industri fourth the of easilysearch andcompare transportation e region. "For instance, we have relation- region. we have "Forinstance,e N in Vietnam...," the spokesperson said. the spokespersonN inVietnam...," sportation. According tothe group, inDe- ely contact and partners Ifreight staff on driving for experience. Theplan pro- calls driving l, which is 10-12 per cent of GDP. In Viet- cent ofGDP. per 10-12 l, whichis will decline by more than 976 tonnes an- 976 more than willdeclineby around 6,000 kilome 6,000 around d willdand costs,time helping save toin- integrating the three existing formats. formats. three existing the integrating day launched the first online logistics S. Solutions will then be provided to s andthe Ministry ofTransportin Viet- au Giayexpressway in Viet- southern the price for logistics services in Viet- nced amaster planforthe nation's ex- d has longstanding relation- -in-vn_291047.html tobe introducedtomajor al revolution and the 29 December 2017 40 /49 ters ofexpressway. 29 December 29 BUSINESS Corolla cars recalls over 8,000 Vietnam Toyota finance& business Vietnam HN FPT builds tower in shipped cars MINI BMW and Thaco's first Intellasia er sports cars such as the 4 Series (inclu 4 Series as the er sportscarssuch In additiontoalreadysuccessfulcarsinVi the yeardistribution. cars,have MINI-branded branded and34 cars The first55cars ofTruongHaiAutomobile 29/DEC/2017 INTELLASIA|VNS th that is recall its for reason the said TMC 2009. and December31, 2008 14, tween July According toToyotaMotorCorporation (T cause injuryforpassengers. may which senger airbags ufactured inVietnam to inspect and replace Toyota Motor Vietnam (TMV) on December 27 29/DEC/2017 INTELLASIA| THE SAIGON TIMES working space for 9,000 people. space for9,000 working coversanarea The construction of 100,000 country. to bethelatest will It Hanoi. District, Giay FPT Corporation on Thursdayheldaground 29/DEC/2017 INTELLASIA|VNS http://bizhub.vn/wheels/thacos-first import more cars ofthetwobrands, In addition to the first car lot landing inVietnam, Thaco insists that it will continue to ket more exciting andaddmore value andnew options for Vietnamese customers. ca andMINI the newBMW of The appearance Peugeot, Thacowill passengerIn the car segment, besides threeexistingincludingbrands Kia,Mazda and for in preparation land inVietnam'sport 1,201 fromJanuary market for the Vietnamese signed aletterofcooperation withThac eration withDarby, Simeth have passed sinceBM months Almost four powert with intelligent version, ALL4 totheCountrym The most addition interesting withtheoldversion. features compared equipped outstanding with The newversion of the MINICountryman,a shipment includestheCooper, Cooper S and Countryman. cially theSUV line, high-end X5, willbere cars.html http://english.thesaigontimes.vn/57753/To cars involved inthe programme tomore than30,000 units. cally Vios cars manufactured TMW hadearlier recalled thousandsofimpo modules atnocharge. flator tomers. OnceTMV gets re itreceives if information TMC to confirm no were which cars Corolla For depending on each model. Checking andreplacingthe wi inflator module nationwide. Airbagsofother TMV will check and replace affected airbag inflators free of charge at Toyota garages passengers. the frontpassenger airbag to deploy abnor Improperly manufactured propellantwafers allowi improperly, made be might ta distribute two new brands (BMW andMINI). official approval from it TMC, e investor ofVietnam euro Automobiles Corp (EAC), and suppliers arenot affected. for the same reason, taking the total reason,takingthe for number thesame total of Toyota t officially imported by TMV, the company will contact contact will thecompany TMV, by imported officially t -bmw-and-mini-cars-shipped_291045.html BMW and MINI, andMINI, in comingperiod. BMW the ng moisture to intrude over time. tointrude ng moisture rain distribution for all four wheels. four all for distribution rain ding the 430i Grand Coup ding the430i Grand o to import BMW, MINI and BMW-Motorrad the shopping seasonattheend oftheyear. e inflators of front ai e inflators offront its chain of16office its towers throughoutthe etnam, such as the BMW 3 Series, someoth- 3Series, BMW asthe etnam, such leased. UndertheMINIbrand,arriving yota-Vietnam-recalls Joint Stock Co (Thaco), including 21 BMW- Joint Stock Co(Thaco),including square metres and willeventually provide W Group Asia announced the end ofcoop- announced the W Group Asia mally in a crash and may seriouslyand maymally inacrash injure MC), these cars were manufactured be- defective inflator modules of the front pas- quests to check airbag inflators from cus- inflators quests tocheckairbag breaking ceremony for FPTTower in Cau could cause the inflator to rupture and inflator torupture cause the could ppearing inVietnam for the first time, is rted CorollaandYariscarsdomesti- officiallyshipped to Vietnamforendof ll take about halfanhour to three hours 8. This is the first shipment of Thaco to to Thaco of shipment first the is This 8. an portfolio is potentially theCooper S potentially is portfolio an rs by Thaco promises to make the mar- make rs byThacopromisesto began to recall 8,036 Corolla cars man- cars Corolla 8,036 recall to began will replace defective airbag in- airbag will replacedefective rbags supplied byTaka- -over-8000-Corolla- 29 December 2017 41 /49 e), 528i GT and espe- GT e), 528i and 29 December 29 BUSINESS Vietnam finance& business Vietnam residents Dinh deter futureMy Gridlock and smog in 2018 oil million tonnesof Vietsovpetro eyes 4 Intellasia and theMinistry ofForeign Affairs. Inthe Environment, Resourcesistry ofNatural and the Ministry of Dinh, including headquartersThe ofanumber ofsignifican 2006. vention centrein toservethe Complex,built Sports tional Dinh'sdramatMy urbanlandscapehaschanged DichtoThanhTri. 3 fromMai Pham 32, asRoad such roads east areas ofthecity. There are convenient, have been continuously improved. MyDinhis prominent roleas a new administrative of thereasons why the area hasbecome mu key stateorganisationsto movement of The A goldenarea land buildings. LeSonreports. tr pollution and tionally heavy cation ofkey state mini new admi was expectedtobecomethe Dinh My 29/DEC/2017 INTELLASIA|VIR https://en.vietnamplus.vn/vietsovpetro- to services costs. save internal was partlyventur to theThe success thanks goal. in USD billion 1.97 pocketed It respectively. 95 cubic metresofnaturalgas,or million exploited In 2017,thecompany over 4.73 mi lion USD. Vietnamese side is expected The joint venturesetplanto generate 1.55 billion USD inrevenue, andprofit for the on December28. operation in2017held viewing Vietsovpetro general director TuThanhNghi gas. ural pumping 4million tonnes ofoiland condensa The Vietnam-Russia 29/DEC/2017 INTELLASIA|VNA working in21 employees 32,000 nearly has FPT the time in nology ecosystem,especially willcontribu expectVietnam. "We FPTTower He saidFPThadpioneered c director. general FPT's Ngoc, Quang Bui said by 2020," expected to be percentinthe 2020 18 2018 centayear "FPT's staffhasgrownnearly16per FPT achieved VND39.32 trillion VND39.32 FPT achieved are under construction and three projects are abouttobe started. FPT nowowns16 offices throughout the countr cent ofthe 10 per accounts for cent. This http://bizhub.vn/corporate-news/ cent year-on-year. Profits fromforeignmarkets accounted forone year. Profit before taxreachedVND2.99trillion, up this year, up10 per cent over the same period last year. 124065.vnp Oil and Gas Joint Venture Vietsovpetro has set targets for 2018 of of 2018 for targets set has Vietsovpetro Venture Joint Gas and Oil stries and agencies. However, the area is experiencing excep- experiencing is area the However, agencies. and stries onstruction ofuniversityandsoftware-park in complexes at 115 million USD 115millionUSD and that at for is Russia nearly 111 mil- Hung, Thang Long, Pham Van Dong, and Belt Road No.Long, and Belt PhamVanDong, Hung, Thang affic jam due to thedensity ofhigh-rise residential Public Security,Ministry the (US$1.7 billion) in revenue in the first 11 months of 11 the first in (US$1.7 billion)inrevenue fpt-builds-tower-in-hn_291051.html eyes-4 million-tonne hub of Hanoi, transportationsystemshere of the fourth industrial revolution". ofthe industrial fourth 2003 SEA Games, and later the National Con- theNational later Games,and SEA 2003 total workforcetotal ofthe country's IT sector. percent and 124 percent of the yearly plan, percentoftheyearlyplan, 124 percent and ofmorethan50,000 period, andreachascale near future,the MinistryofAgricultureand diverse routes connecting it to Hanoi's key e's efforts to apply to ad e's efforts apply revenue, 3.5 percenthi t ministrieshavealso llion tonnesofoil and condensate 234 ch more crowded andvaluable.Givenits My Dinh in the past 10 years has been one years has 10 past My Dinhinthe the Ministry of Science and Technology, a announced the goals ataconference re- te to the development of Vietnam's tech- of Vietnam's thedevelopment te to 14 per centover periodlast thesame te and millioncubic 126.5 metres ofnat- well connected to the west, south, and in the last 10 years. The growth rate is is rate growth The years. 10 last the in thirdofthegroup's profits,up20per y. Ofthese, 11are already inuse, three countries, ayear-on-ye ically since the construction of the Na- ically sincetheconstruction ofthe nistrative area of Hanoi with the relo- area ofHanoiwith nistrative of HomeAffairs, the Min- s-of-oil-in-2018/ vanced solutions and 29 December 2017 42 /49 beenmoved to My gher than the yearly gher than the 29 December 29 ar rise of 13 per ar riseof13 BUSINESS Vietnam finance& business Vietnam Intellasia Manh said that many vacant Manh saidthat with ninehigh-riseSun squarebuid and 500 metres, there are three housing projec Ng ThachtoHam Nghi-Nguyen Co FromHam directions. Me Tri crossing Pham Hung accommodates a along PhamHungwhichis thanthree more About 30 high-rise residential buildings have gon, The Garden Hill, TheEmerald My Dinh,and Scitech Tower. this district], with high c high with district], this tricts of Ha Dong, Hoang Mai, Cau Giay, an noise levels that exceed regulations. Hanoi' the St are1.2to2.5times Vietnam that most The department's findingsshowthat be vehicular dust, with ed Resources andEnvironment,the road city's tostatistics dated November According 26 told VIR. ular, the evenmo traffic becomes situation ers. Peoplerush to drive alongthe pavements to get where they need to go. In partic- "Dust, hot smoke, and noise pollutionare cr space left for motorbikes on theroad. buildings, high-rise for materials struction taxis, Cars, time. a at 10-20cm only move you "If youdrive along the PhamHung road at infrontof the My seller drink Vanbecome over Dong havemark toPham Nguyen Hoang, Tran Binh,Hung fromthe andPham intersection ofKeangnam Land- Dinh area. Even before the projects have been "I donotunderstand why the state licensed plexes. about thousands ofapartments, to be laun Hung Walking alongPham road, wesaw nu jam traffic Hot street. th surrounding sites entertainment public and transportation for landavailable thelimited This can beseenby cramped. this area Manh, however, believes thatthe density of of property developers andinvestors." isalsothe rental explanation apartment to as month," per $1,000 about high, always are few years, more expats have of the scarcity to but due Hoa urbanarea, workpast, foreIn the here.who liveand als "The area isalsohometomanyKorean, Ja said Le QuangManh, directorof My housing pr 10 years, the pastseven to just "In area increased rapidly. ideal an Dinh My made infrastructure place for a largeseries of real social estate firms. and technical of development strong The also relocate tothearea. Rural Development,the Ministry ofTranspor mittee of thecityunder whic recently ofTransport Hanoi's Department density and jamsis that surr inte Dien Cau and station, bus Bat Giap stop, oncentrations surrounding CoNh nzene emissions, and noise. nzene emissions,and ounding the MyDinhbusstation. moved Dinharea, My to the so apartment rental prices h My Dinhbusstation would be land lots willsoon be bust Dinh bus station on Pham Dinh busstationHung onPham road. Dinh1PropertyTransaction Centre. andards QCVN 06/2009/BTNMT, aswell andards QCVN 06/2009/BTNMT, ings, offering up apartments. to 3000 ings, offeringup land, the supplywas not enough. In the past panese, Singaporean, andBritish profession- ts HD Moon city, MBlandhome My Dinh 3 e My Dinh bus station alongPhamHung ofproperty the in the value Accordingly, re chaotic 5pmand between 5.30pm," Loan ched ontothemarket , 2017 from Hanoi's Department of Natural Department ofNatural , fromHanoi's 2017 he said. "The heavy demand forhigh-end submitted aproposaltothe submitted People's Com- of the monitored siteshavebenzene levels ign professionals often stayed in the Trung professionals oftenstayedin ign run into each other. There is almost no s and constructionareas are heavily pollut- s most heavily polluted areas areas the are dis- polluted s most heavily so many high-rise buildings in the My intheMy buildings somany high-rise rush hour, near the My Dinhbusstation, the hour, near rush loaded," said Nguyen Thi Loan, astreet rsection. However, the worst site of traffic traffic worstsiteof However, the rsection. d NamTuLiem[MyDinh areais of part eating severe impatience in vehicle own- skyscraper residential projects has made kilometres inlength. The intersection of ices in this area have doubled areahave inthis or tripled," ices doubled merous housing projects, each boasting why real estate here is always the focus focus the always hereis realestate why coaches, and even trucks, coaches, and carrying con- appeared inaradius ofone kilometre t, andthe Ministry ofConstruction will put into operation, thestreets such as dozen of buildings enclosedfromfour of dozen hi-Le Duc Tho intersection, within just ling with new high-rise com- ue crossroad, Long Bien bus ue crossroad,Long changedinto acar park such as HanoiPara- such 29 December 2017 43 /49 29 December 29 BUSINESS Vietnam finance& business Vietnam Hanoi and HCM City Academy opens in Franklin Apax Intellasia In the contextindustri In ofaboomingfourth TEN. GAR- STEAMe system kindergarten thebilingual and English chain Apax centre ing This is the third ApaxHoldings' education system in Vietnam, joining its English train- with the US'sFranklin Learning Centers. City on December 28,fourmonths after lin Academy centers in Vietnam, twoinHanoi on December 23 and anotherinHCM Apax Holdings, a member ofEgroup,has offi American hi launchesfirst group Education 29/DEC/2017 INTELLASIA| by 2025. However,theprop rea, theyareafraid but of se the to buyhousesin MyDinh becauseitremind Manh ofMyDinh1 Property Tr Ba Dinhdistrict," he said. Dinh. "My Dinh lacks green whilemy parks cu ment, withinalow-rise buildinginBaDinh said Huy commute, daily long a such Despite to hisoffice, whichhadre takes himuptoonehour kilometrescover ameresevenstreet house inBuoi fromhis a50-year-old Huy, Minh Nguyen Meanwhile, here. in MyDinh,he hesitates as there is a lack wh that VIR told ministries, relocated cently Forty-eight-year-oldhead HoangVanTuan, buyers. degrees, saving up to 70 per cent compared to studying abroad," said Vu My Lan, CEO CEO Lan, My Vu said abroad," studying to compared cent per 70 to up saving degrees, paths built on three criteria: anAmerican programme, American teachers, and the US Franklinwillbringhigh"Apax schoolstuden students in Vietnam receive aquality ed with itstechnolFranklin Academy, Apax concern fo Theprimary fulfilled. dream a such ov going for everystudent that It's estimated Vietnam. foundations herein education ties toaccessadvanced learning method gence ofmodern technologies suchasBigDa longer confined to oldframeworks. The us http://www.vir.com.vn/gridlock-and-smog roads duringthethrice-dailyrush hour. dents, pedestrians, andvehicle drivers will along PhamHungstreet in theabsence of through thecity to drive will continue es However,mana reassessment untilfurther and planning of residential building comp that Hanoi's authorities shou ministerof former deputy Dang HongVo, are quite interested in surveying traffic jam spots," he said. laxation space. Inadditiontopayingattenti "The density of high-rise buil transact number ofactual The $1,300-1,700. the in apartments of quality the Although more apartment buildings are launched to buildings inMyDinh, which looks to only in The abundanceoftraffic jams andthe over Slower transactions VN ECONOMIC TIMES cently moved to My Dinh. moved toMy cently osal is still under the ld rebalancethepopulation inMyDinhwith appropriate dings will intensify, occupyin vere trafficjamsand vere pollution. air ansaction Centre said that lexes and transportinfrastructure. lexes and signing astrategiccooperation agreement s and knowledgefromthe world's leading ucation programme inucation programme their homecountry. of space forregular exercise and relaxation centre, collectingcentre, anddeliveringpassengers ogy-based education programme, will help trafficregulation enforcement; and resi- the market, has dishea the market, al revolution(Industry area isquitehigh, thecost varies from Natural Resources and Environment, said e oftechnologyinteachingandthe emer- continue to breathe dust that that consumes the dust tobreathe continue crowded plotting ofhigh-rise residential crowded ions sloweddown, to has according Manh. -deter-future-my-dinh-residents.html on tothe utilitiesandlocation,ourclients ed themoftheKangnam area of South Ko- district, to anew inMy to having apartment district, ileconsidering heis buying anapartment gh school academy in two majorcities. intwo academy gh school erseas to study, another 20 will never see ta, IoT,andAIhasopened upopportuni- of theHR Department of one ofthe re- ts inVietnam themosteffective learning crease over the next fewyearsasmany cially opened its first threeFrank- Apax first its opened cially r parents is financial. The opening of thefinancial. Theopening r parentsis he preferred to stay in his current apart- stay inhis to he preferred ministerial official,explained that ministerial it gement of the area is complete, the bus- iscomplete, thearea gement of rrent house is nearthe Thu Le Park of committee's consideration. many of his clientswanted g the position ofpublic re- rtened many housing rtened many 29 December 2017 44 /49 4.0), education isno education 4.0), 29 December 29 BUSINESS Vietnam finance& business Vietnam promotion biggest ever Vietjet launches Intellasia and-hcmc http://vneconomictimes.com/article/busine countries worldwide anded 100 application oftechnology in education. It educat leading US' of the one is Franklin five centers. willhave Franklin Academy Apax and puses expected by2018, to reach locations 100 Apax English trainingnowhas have the greatest impacts. December 28 to December 30, with millions millions with 30, December to 28 December motion http://vneconomictimes.com/ar friendly cabin crews, andother added-on services. flying experience on new aircraft withcomf low-faices, diversespecial ticketand classes, especi programmes, tertainment Vietjet Air isapioneering airline loved by ellers. de the meet to services and products ed-on routes, adding more aircraft, investingin of With theaim becoming a"Consumer Airl tickets. etjet Sky Fun" towin more gifts, including million cash Pass ofVND100 ($4,400). prize of return tickets,"lucky money" prizes up participate to chance the have will od (excludingchar routes tic andinternational extrapromotion, festivejoytotheAdding (excluding nationalholidays). ary 3toMay31 Lumpur, andPhnomPenh.Theflight Yangon, and Tainan (Taiwan), Singapore, Bangkok, etnam toSeouland Busan (South Korea), and availableat www.vietjetair.com for alldo of the firstweek During upforgrabs. also and more freetickets ($44,000) VND1billion totalling www.vietj (onlyat 2pm (GMT+7) to from 12pm buying to passengers The promotionisopen Vietjet". with tival lunar new the biggest everpromotionsfor (excludingVND0 and fees) taxes from December Vietjet Air hasannounced it 28. February to 28 fo "superpromotickets" available 2 million 29/DEC/2017 INTELLASIA| highlightimethods, production processesand on digitaltechnologywhich isbased and inte cere thelisting told Chair Holdings, of Apax on the Ho Chi Minh Stock Exchange (HoSE) on December 15. Nguyen Ngoc Thuy, FranklinAcademy ofApax foll The opening abroad." tostudy knowledge and best skills not onlyreceive aworld-recognisedAmeric of Egroup and ApaxFranklin. "When studying VN ECONOMIC TIMES the promotion, Vietjetwillhave will offer 2million "super promo tickets" priced from ticle/biz-traveler/vietjet-l 55 centers, double the number at the end of 2016. It is It end of2016. the at the number centers, double 55 ally during thefestive season. With high-quality serv- ucated 4 million students. 4 ucated million in lucky draws every day and win domestic domestic win and day every draws in lucky ion solution providers and has pioneered theion solutionprovidersand while STEAMeGARTENwill have 15 cam- s programmes have appeared inmore than modern technology, andoffering more add- to VND10,000,000 ($440) as well as a special a special as well ($440) to VND10,000,000 Hong Kong, Kaoshiung, passengers flying with r VND0 plus taxes and fees from December December from fees and taxes plus VND0 r many foritsexcitingpromotionalanden- many a pair ofdomestic or international return ss/apax-franklin-aca Phuket, and Chiang Mai (Thailand),Kuala Phuket, ChiangMai and year (Tet)withthebanner "Enjoy Sky Fes- mands ofinternational and domestic trav- tered flights) during the promotional peri- during thepromotional tered flights) of promotional tickets y seats, delicious hot meals, beautiful and delicious beautiful y seats, hot meals, engers canalsoplaytheonline game "Vi- ticketsduring the ai an high school diploma but also get the schoolalso an high diplomabut ine", Vietjet is continually opening new ows the debut of Apax Holdings' shares Holdings' ofApax ows thedebut gratingoptimise allsmarttechnologies to mony that 4.0, mony that it willpursueIndustry re tickets, Vietjet offers its passengers a ng technologies that mestic andinternational routes from Vi- at Apax Franklin Academy, they will will they Academy, Franklin Apax at period forthepromotionisfromJanu- etair.com),prizes withincrediblecash 28 to February 28. This is one ofitsis28 toFebruary28.This a series of "golden days", from from days", "golden of series a aunches-biggest-ever-pro- demy-opens-in-hanoi- rline's "goldenhours" 29 December 2017 45 /49 Vietjet on alldomes- Vietjet priced at just VND0 priced atjust are having and will are havingand Taipei,Taichung, 29 December 29 BUSINESS criticism in faceof calendar VietJet byracy stands or bikini? Coffee, tea finance& business Vietnam Intellasia flight attendants and otherairl of the image overly sexualises say critics ofthe calendarwhich 2018 The publication share from VietnamAirlines. ai thestart-up propelled has that by VietJet The annualcalendar, which hasgoneviral onl beyond. and Asia Southeast inconservative criticism calendar, amarketing ploy featuring scantily clad female models that has prompted Vietnam's VietJet Aviation said on Thursdayit The annual'bikini' calendar hasgone viral online. 29/DEC/2017 INTELLA endar-in-face-of-cr https://e.vnexpress.net/news/business/coffee- for idea to intr agood us is models "Male edged that there could be big changes inthe content for the nextversion. Khanh, who said the proceeds fromsalesofth ages. im- morefamily-friendly of infavour inbikinis posing crew cabin female featuring dar Ryanair Irish budget carrier years with offering inrecent Pirelliknown for itscalendars of glamorous cale racy to use notthe is firm VietJet first uations. Khanh saidVietjet flight atte appetite. flight female fictitious two about book 1960s charge takingusback to the "Women havetowork so hard to betaken se ways-friendly skies. Poole, aveteran US flight attendant and group inorder to make afewbucks offa co VietJet is"takingus 50yearsby back hy of harassment and assaultgo widely underreported. presentedanarchaicandsexi on boardplanes, shows fashion bikini and calendar the including marketing, risque VietJet's say Critics gainattention. scandalto ating under the avatarMaiCo. Another person, name not unpl beautiful, is "I think (the calendar) month. shoot havebeenviewedmore than910,000 ti ca 2018 The others defendingthecampaign. an onlinestormin causedThe calendarhas Back intime Thao was forinterview. unavailable dress.al Vietnamese long bikini like, or right towearwhatever they viewsofThao, askedabout the Khan When tor,comments saidinemailedReuters.to happy," happy, thenwe'llbe delighted and "We are notupsetwhenpeopleassociateuswi sized free choiceofpeopletowear whatever theywanted. major a running one ofahandfulwomen Th Phuong Thi byNguyen founded VietJet, employees. an sexualharassment about airlines industry SIA| VNEXPRESS iticism-3691570.html ndants havebeen trainedto lessofafocuson nudity. Holdings calen- Holdings PLC in2014 scrapped an charity annual days of 'Coffee, Tea or Me?'," she added, alluding toa ine staffcomesasthere isa It's getting more unpleasant." per-sexualising a female dominated work work dominated female a per-sexualising author ofabook about workingthenot-al- oduce inourcalendarsnext year," he said. traditional ao dai", referring tothetradition- aodai", referring traditional ndars to raise itsprofile.Italiantire maker rline's rapidgrowth,asithastakenmarket easant at all," one us oneeasant atall," Vietnam, with some people criticising and and peoplecriticising some with Vietnam, Luu Duc Khanh, VietJet'smanaging direc- uple of cheesy calendars,"saidHeather of uple h said theCEO thought people "have the female modelshasoverhauledtheannual photo videoofthe lendar andaYouTube aoVietnam's first female billionaire and mes sincefirstappearing attheendoflast attendants emphasizedtheirsexual that attendants d in-flight assault of both passengers and bothpassengers of d in-flight assault airline globallysaid the calendar empha- riously, and in this case it's awomanin e VietJet calendar go to charity, acknowl- gotocharity, e calendar VietJet tea-or-bikini-vietjet-stands-by-racy-cal- was standing by a controversial "bikini" "bikini" controversial a by standing was th the bikini image. If that makes people people makes that If image. bikini the th ine, is part of a broader marketing push part ofabroadermarketing ine, is st imageofcabincrew, evenastherisk d as Van Nhi, said the airline was "cre- airline was the said Nhi, as Van d handle sexual harassment sit- growing debate in the global er posted on Facebook er postedon 29 December 2017 46 /49 29 December 29 BUSINESS announced Private SectorForum VietnamOutcomes of finance& business Vietnam farm produce chains for safe supply Seminar discusses brand value understanding of Conference enhances Intellasia 124044.vnp https://en.vietnamplus.vn/conference-e lion USD. oftheTop value Brands thisyearwas bil- The total 50 11.3 nearly brand estimated at Vinamilk, VNPT,Vinhome and Sabeco. with Viettel listofTop 2017 the topping At the conference, the two consultancy fi tiveness and profits. It requir highlighted thebrand as akey business as ese firmsfocusedmoreonboosting sales th Samir Dixit, Brand Finance Managingdirector explained. Manh advantages, competitive ing on strategic marketing activities for su assets, developingin off withstrengtheningaw The projectsstarted brand values,Managing dire saidcreate Brand Finance andMiBrand Vienam are workingon long-term projects tohelp firms bile World, MobiFone, Vinhome, Vietna nance, with about 100 Vietnamese leadin based independent branded business valuat The event was co-held bybrand manageme standing of brand value andfoster the development of Vietnam's brands. Decemberon 28toprovide in Hanoi vened and streA conference, entitled"Managing 29/DEC/2017 INTELLASIA|VNA th said Giam Huy Dao general Secretary VPSF trade facilitation offeredThe forum solutionstologistic also ance and training. seen inonline taxation collection, e-paymen countrie the earlier40 territories, insteadof Security Public of the Ministry In tourism, resentative Missions. promotion agency while the National As The MinistryofAgricultur development inamore convenientway. onencourag replace ofDecree210/2013/ND-CP Following the forum,theMinistry of Planni prises asproposed by theVPSF. and adopted measures achiev at theevent, VEAvicePresidenSpeaking Book. the anddebut White (VPSF)2017 Forum Sector Private Vietnam to announceoutcomesoftheDecemberpress conference 28the inHanoion a The Young Entrepreneurs' Association (VEA) 29/DEC/2017 INTELLASIA|VNA day. dele quality, and quantity ensure well as Creating efficientsupplychains 29/DEC/2017 INTELLASIA|VNS 124063.vnp https://en.vietnamplus.vn/outcomes-of- firms. and international partners whichareinterest that the VPSF conveys messagestothe Vi and globalisation. ternational-standard toolsforme e and RuralDevelopmentestablished aspecialised trade es more investment, he noted. ed successesintheequitisationofState-ownedenter- for safefarm produce isessential toguarantee sales as nhances-understanding-of-brand-value/ vietnam-private-sector-forum-announced/ m Airlines and more,inattendance. Airlines m ctor ofMiBrand Vi 10 Most Valuable Brands, followed by gates told a seminar in HCM City on Thurs- gates toldCity on aseminarinHCM sembly amended the Law onOverseas Rep- rms honouredVietnam's rms Top 50 Brands in g brands,includingVNPT, VinaPhone, Mo- t Tran Anh Vuong saidthegovernmenthas etnamese businesses, government, agencies ccessful brand positioning andhow tobuild extended e-visa issuance to46countries and ngthening Brand Strength Index 2017", con- ngthening BrandStrengthIndex2017", set thatinfluences the company'scompeti- Vietnamese enterprises withproper under- s, humanresourcesclean energy, training, rough marketing rather than branding. He He branding. than rather marketing rough s and territories. Positive results were also nt consultancy MiBrandVietnamandUK- ng andInvestmentissuedanewdecree in t, e-customs and digitalisatione-customs t, ingovern- ion andstrategy consultancyBrand Fi- ed inthedevelopmentofVietnamese andthe Mekong Busine e WhiteBook istheof areness of the significance of intangible ofintangible ofthe areness significance for Asia-Pacific, said most of Vietnam- ing investmentin agricultureandrural asuring brand values andadvis- asuring brandvalues etnam Lai Tien Manh. LaiTien etnam 29 December 2017 47 /49 ficial document of ss Initiative held Initiative ss 29 December 29 BUSINESS Vietnam finance& business Vietnam opens in NgheAn Vinhfair orange Intellasia To be able to join retailers' supply chains supply retailers' join to able be To 90ha, shesaid. of It has 21 cooperatives and enterprises grow and enterprises has 21cooperatives It producing over186,000tonnes a year. province said the Development, and Rural Dinh ThiPhuong Khanh, deputy director of market demand, and apply advanced te He saidcooperatives shoulddevelop l said. he ently, failureby due the to tween 45haand75ha In VinhLong,the scale of the project has not requirements. its with ply problems becaus has faced But SaigonCo.op year. since Septemberlast rice tonnes ofsafe TienCooper It hasalsotiedupwith Tan a year. and vegetables) fruits (mainly produce farm of safe Saigon Co.op haslinkedupwith than more intermediaries, reduce and outlets its produce at offarm supply and adequate quality According toPham Trung Kien, deputy gene ply forthe whole year. He calledon cooperatives and farmers totw That is acommonproblemeverywhere inthe country, he said. quantities. large to consume gest obstacle is the surgein supply during Deputy minister of Agricult said. them, they es, withencouragingresults, but there ar There havebeen toconnectmany programmes high quality products. promote locally-gr to aiming 28, December The VinhOrange-Nghe An Fair 2017openedinthecentral provinceofNghe An on 29/DEC/2017 INTELLASIA|VNA produce_291050.html http://bizhub.vn/news/seminar-disc agricultural been 10,756 there had According tothe Agency of Cooperatives and Rural Development, attheend of2016 Businesseshave asteadysupply would sonable prices, he said. building with farming techniques andhelped Farmers/cooperative members would getmark nesses would be awin-win act. II saiddeveloping linkages Tran Minh Hai ofthe College ofManageme he outlets, retail said. The supplyofsafe farm produce was notdi pr for safefarm However, demand etables, fruits, tea, pork,egg, rice, and seafood. are 700 supply chainsforsafe supply are 700 Agency for Agri-product Processing and Ma Nguyen AnhDung, head of the Ministry ing processandmake zoning forsafefa plans She alsosaidthe governmentshouldenha farmers,""The governmentsaid. she shouldconsidersubsidising former. the for difficulties causing high, very is obtain at least VietGap certification,the but ure and Rural Development Tran Thanh Nam said the big- Development said and Rural ureNam Tran Thanh between producers(farmersandcooperatives)busi- and farm producein50provinces andcities mainly for veg- cooperativesinthecountry. oduce was much higher, he said. he higher, much was oduce usses-supply-chains ong-term production plans,produce based on chnologies intheirproduction process. with consistent quality, hesaid. quality, consistent with ative in VinhLongProvincetoprocure130 , farmersandagricultur e hurdles todeveloping linkages between of Agriculture andRuralDevelopment's theharvestseasonand cooperative members toparticipate consist- nce inspection and supervision of the farm- nce inspectionandsupervisionofthe own oranges and helpcustomersrecognise has over 11,500ha growing safe vegetables,11,500ha growing safehas over nt forAgriculture and Rural Development ing VietGap-cert cost of getting and renewing the certificate the certificate renewing and getting of cost verse enough andthere were notenough eak their cultivation to theLongAnDepart 20 cooperativesforaround16,000tonnes e farmersdid sometimes notstrictly com- been consistentand has fluctuated be- rket Development, Region 1, saidthere rm produce sothat it cansolicit investors. ral director of Saigon Co.op,toensure of ral director brands and selling their products brandsandsellingtheirproducts at rea- agriculturalcooper et information and inputs, be taught be taught inputs, and et information -for-safe-farm- ifiedvegetables onatotal 29 December 2017 48 /49 al cooperativesmust ment ofAgriculture businesses' inability atives andbusiness- ensure steady sup- 29 December 29 BUSINESS Vietnam finance& business Vietnam Intellasia End https://en.vietnamplus.vn/vinh-orange suppliers. sapling including aconference forbusinesses, coop The fair will be run until December 30, duri developingmark promotion, theproduct. and thuspreserving ments and sectors tostrengthen the manageme prov the the issues, with to deal order In products. fake and frequent crop loss including to sharply, Thanhsaid.However,hepointed Since earning thegeographical indication a national property. Technology, Vinh orange hasreceived geog According toTran QuocThanh,directorof theformer East European countries and domestwell-knownlong been Vinh orangehas tree sweetand taste. typical with fresh for orange land is thefavourable and Inreturn, floods. the locality storms numerous Nghe Anhasratherweather severe with stro -fair-opens-in-nghe-an/124043.vnp Soviet Union (Russia now) (Russia since the1960s. Union Soviet incial People's Committee directed depart- Committee directed incial People's in 2007, the product's value was raised raised was value product's the in 2007, the provincial Department ofScienceand Department theprovincial raphical indicationprotectionandbecome ng which a number of events will be held,number ofeventswillbe a ng which eratives, farmers,organisations, and tree ng sunshine,frequent rains,drywindand a number ofproblemsfacing theproduct, nt ofproductqualit ically and globally. It was exported to exported was globally. It ically and 29 December 2017 49 /49 y, marketand trade- 29 December 29