Finance & Business News

finance & business news 10 April 2017

FINANCE ...... 1 City rental market continues slump 37 Reference exchange rate up 5 VND 1 C&W: HCM City to have more office-for-rent space in 2017 38 What's happening in the retail banking market? 2 BIZ NEWS ...... 39 Vietnam banks' assets, registered capital 2 Business Briefs April 10, 2017 39 Banks target to earn trillion dong profits 5 Vietnamese stock market attracts foreign investors 40 Banks plan to raise charter capital in large number 6 Foreign investors rush to buy stake in Vietnamese businesses 41 Q1 credit grows sharply 7 VSD issues trading codes to 228 foreign investors 42 Novaland backs out of Sacombank restructuring project 7 Stocks set to rise on first quarter hopes 42 Investor group to strengthen Sacombank 8 Oil price increases help pull VN Index up 43 The highly speculated return of Sacombank's 'father' 9 HSX up while HNX down 43 Eximbank plans to sell entire stake in Sacombank 10 Shares remain negative after holiday 44 Q2 GDP growth forecast: 5.6pct 10 HSC seeks to scrap cap on foreign ownership 44 HCM City: Private sector to contribute 65pct to GRDP 11 Vietnam's PV Gas bags $65 million in Q1 net profit on Vietnam should not aim to become industrial power: rising revenue 45 economist 12 TPG Asia sets to become the majority shareholder of VAS 46 FDI inflows not improving quality of VN's growth 13 VN products look to Argentinean market 47 When more is less: VN growth deficient in quality 13 PM okays $2.4b for major highway 47 Vietnam to halve corporate coverage of unemployment VET holds Industry 4.0 forum 48 insurance to boost competitiveness 14 Scantech rides the Industry 4.0 wave 49 Mekong Delta has good economic governance 15 Viettel holds upper hand in final phase of 4G race 49 Vietnam develops logistics services for exports 16 Prime minister orders crackdown on 'zero dollar' Chinese tours 50 Leather and footwear exports could reach $26 billion by 2020 16 HCM City supports startup businesses 51 Hanoi expects to have 40,000 new enterprises in 2017 17 HCM City stabilises market, ensures social welfare 51 HCM City set on goal of 500,000 businesses by 2020 18 Japanese investors to revitalise polluted canal in HCM City 52 Vietnam's transport ministry rejects airfare floor price proposal 18 Local firm to develop river bus routes in HCM City 52 Transforming auto assembly to component manufacturing 18 Hanoi wants Microsoft's help to become technology incubator 53 VNREA pushes for low-cost housing policy 19 Rent-a-Port NV further expand its business in Vietnam Vietnam's aging population expected to work longer in future 20 with green energy focus 53 Vietnam among top five foreign investors in Cambodia 21 Vietnam attends international Halal showcase in Malaysia 54 Vietnam ranked among top 10 countries in women business Businesses keen on clean energy plants in Dak Lak Province 54 ownership - report 21 Vinamilk sets revenue target of $2.25bn for 2017 55 HCM City Secretary promotes trade, investment in Japan 22 Vinamilk publishes growth targets 55 Thai Binh attracts many investment projects in agriculture 23 Vissan's 2016 revenue at $162mn 55 Savills: M&As to continue in 2017 23 Lottery firms in southern Vietnam found with massive non-core M&A activities of both domestic and foreign investors investment 56 exciting in Q1/2017 24 Formosa's $10.5 billion Ha Tinh steel complex meets Vietnamese workers warned of 'robot threat' 26 requirement to start blast furnace 57 Vietnamese bakery, confectionery sector attracted to foreign Ascott partners with BIM Group to develop condotel 57 partners 27 Samsung to assist Vietnamese businesses in producing Vietnam determined to lower prices on brand name drugs 28 sophisticated electronic parts 58 Indonesia turns it back on Vietnamese rice as crops at TH True Milk to invest in Dak Lak 59 home Abbott rated among top 10 best places to work in Vietnam 60 flourish 29 Vietnamese startup scores series C funding 60 Tech startups are finding fertile ground in Vietnamese game market enriches foreign gaming firms 61 Vietnam's 'Silicon Valley' 30 Tra fish shipments to Spain decline steeply 62 Govt guidelines for Russia-Vietnam auto joint ventures 31 Robins to run midnight sales on April 8 62 Vietnam applies SRP rice production standards to increase Affluent Vietnamese buy American lobsters, foreign fruits 63 competitiveness 32 Tour packages snapped up at international travel mart 64 HCM City metro projects short on capital 32 Jetstar upbeat about direct services to HCM City 64 Soaring tra fish prices entice Mekong farmers 34 Gamuda Land to launch The ZEN Residence this month 65 Industrial salt import limited to 102,000 tonnes 35 Is this a good time to enter Vietnam's booming market? 35 Thai firms gather power on Vietnamese real estate market 36

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FINANCE

Reference exchange 10/APR/2017 INTELLASIA | VNA rate up 5 VND The daily reference exchange rate for VND/USD was set at 22,316 VND per USD on April 10, up 5 VND from the last working day of last week (April 7). With the current trading band of/-3 percent, the ceiling rate applied to commercial banks on the day is 22,985 VND and the floor rate 21,647 VND per USD. The opening hour rates listed at commercial banks was almost unchanged from April 7. BIDV maintained its rates at 22,625 VND (buying) and 22,695 VND (selling) per USD, the same as on April 7. The rates at Vietcombank also stayed unchanged at 22,640 VND (buying) and 22,710 VND (selling). Meanwhile, Vietinbank kept its selling rate at 22,700 VND but raised its buying rate by 15 VND to 22,630 VND. http://en.vietnamplus.vn/reference-exchange-rate-up-5-vnd/109967.vnp FINANCE What's happening in 10/Apr/2017 Intellasia | Vietnamnet the retail banking Many Vietnamese banks have reported high growth rates in retail banking in recent market? years. VietinBank has reported high growth rates in the retail banking with the outstanding loans increasing by 2.5 times in 2015 compared with 2014 and by 35 percent in 2016 compared with 2015. The capital mobilised by the bank by the end of 2016 increased by 21.2 percent compared with 2015, while retail turnover increased by 30 percent. After the restructuring, Asia Commercial Bank (ACB) has regained its strength in the retail banking market. In 2016, its pre-tax profit increased by 27 percent compared with the year before to VND1.667 trillion. According to the Saigon Securities Incorporated (SSI), ACB's lending to individual clients in 2016 increased by 30 percent thanks to a large network and experienced workforce. Analysts noted that the bank's proportion in lending to individuals increased significantly (accounting for 53 percent of outstanding loans by the end of 2016, higher than the 49 percent by the end of 2015), while the loan-to-deposit ratio has improved (77 percent in 2016 vs 76 percent in 2015). They also commented that the increased investment in technology helps Vietnamese banks well exploit the retail banking market. With large networks and modern technology, banks can provide diversified retail banking products which increase the revenue. What are foreign banks doing? In late 2014, HSBC Vietnam told the local press that it found retail banking was a stable and less risky sector which can bring high revenue. By 2015, the bank had for five con- secutive years led the market in terms of card payment revenue, according to Visa. However, the Number 1 position unexpectedly went to Vietcombank in 2016, while HSBC Vietnam fell into the third position. The commercial banks which hold the biggest market share reported by VisaNet include many Vietnamese names - Vietcombank, Vietinbank, Military Bank, ACB and Techcombank. Meanwhile, two foreign names are Citibank and HSBC. ANZ was recognised as the best retail bank in Vietnam in 2013. Some sources said ANZ is negotiating with partners on the transfer of its retail banking division. Three foreign banks and two Vietnamese banks have shown their interest in ANZ's retail banking division. The decision by ANZ could be a part of its plan to adjust business strategy. However, analysts commented that the Vietnamese retail banking market, where only 20 percent of the population has approached consumer finance services, is not as attractive as it may appear.

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Vietnam banks' assets, 10/APR/2017 INTELLASIA | REUTERS registered capital April 7 The following table updates the assets and registered capital of banks in Vietnam, based on their latest published reports. NOTE: * Updated; unit: billions of dong FULLY STATE-OWNED BANKS MM/YR ASSETS REG CAP Agribank 12-16 *1,000,000.00 *29,126 #Vietnam Development Bank 12-14 324,526.87 14,159 #Vietnam Bank for Social Policies 12-16 *162,400.00 10,696 Dai Duong Bank 06-14 68,783.30 4,000 Global Petro Bank (GP Bank) 09-11 32,000.00 3,018 Construction Bank 12-11 27,171.30 3,000 Cooperative Bank of Vietnam 12-16 *27,068.00 3,394 State Bank of Vietnam (SBV) 10,000 NOTES:

FINANCE # are policy lenders * Assets value for Agribank is an estimated figure provided in an Agribank statement PARTLY PRIVATE BANKS: 31 MM/YR ASSETS REG CAP BIDV 12-16 *1,006,404.15 34,187 VietinBank 12-16 *948,699.02 37,234 Vietcombank 12-16 *787,906.89 35,978 Sai Gon Commercial Bank (SCB) 12-16 *361,682.37 14,295 Saigon Thuong Tin Bank 12-16 *333,294.84 18,852 Military Bank 12-16 *256,258.50 17,127 Technological & Commercial Bank 12-16 *235,363.14 8,878 Asia Commercial Bank 12-16 *233,680.88 9,377 Sai Gon Hanoi Bank 12-16 *234,785.82 *11,197 Vietnam Prosperity Bank (VPBank) 12-16 *228,770.92 9,181 Lien Viet Post Bank (LPB) 09-16 133,080.14 6,460 Eximbank 12-16 *128,801.51 12,355 Maritime Bank (MSB) 06-16 114,500.00 11,750 HCM City Development Bank (HDBank) 12-15 102,423.00 8,100 Vietnam Public Bank (PVcomBank) 12-15 98,605.44 9,000 Vietnam International Bank (VIB) 12-16 *104,516.96 5,644 Dong Nam A Bank (SeABank) 06-16 91,595.11 5,466 Tien Phong Bank (TPBank) 09-16 89,507.68 5,842 Dong A Bank (DAB) 12-14 87,108.00 5,000 An Binh Bank (ABBank) 06-16 70,352.54 5,319 Bac A Bank (North Asia Bank) 12-16 *75,938.15 5,000 National Citizen Bank (NCB) 09-16 57,798.58 3,010 Phuong Dong Bank (OCB) 12-16 *63,815.09 4,000 Viet A Bank (VAB) 09-16 52,896.61 3,500 Nam A Bank (South Asia Bank) 09-16 39,747.53 3,021 Viet Capital Bank 12-15 29,579.00 3,000 Kien Long Bank 12-16 *30,451.01 3,000 Petrolimex Group Bank (PG Bank) 09-16 23,110.82 3,000 Bao Viet Bank 06-14 20,857.70 3,150 Saigon Cong Thuong Bank (Saigonbank) 09-16 18,210.85 3,080 Vietnam Thuong Tin Bank (Vietbank) 12-12 16,844.70 3,000 FULLY FOREIGN-OWNED BANKS: 8 HSBC Bank (Vietnam) Ltd 12-16 *71,138.05 7,528 ANZ Bank (Vietnam) Ltd 12-15 46,097.00 3,000 Shinhan Vietnam Bank Ltd 12-16 *54,955.15 4,547 Standard Chartered Bank (Vietnam) Ltd 12-12 24,071.70 *3,080 Hong Leong Bank Vietnam Ltd 12-14 7,013.80 3,000 Public Bank Vietnam Ltd 12-15 9,724.12 3,000 CIMB Vietnam 3,203

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Woori Bank Vietnam INVESTMENT BY FOREIGN BANKS/INVESTORS in Vietnamese banks BNP Paribas 20 percent of Oricombank Commonwealth Bank of Australia 20 percent of VIB Malayan Banking Bhd (Maybank) 20 percent of ABBank Societe generale 20 percent of SeABank United Overseas Bank 20 percent of Phuong Nam Bank of Tokyo-Mitsubishi UFJ 19.73 percent of VietinBank HSBC Holdings Plc 19.41 percent of Techcombank Standard Chartered Plc 15.69 percent of ACB Sumitomo Mitsui Banking Corp 15.07 percent of Eximbank Mizuho Corporate Bank 15.00 percent of Vietcombank International Finance Corporation 4.99 percent of TPBank REGISTERED CAPITAL TARGET (billions of dong) VietinBank 49,209 FINANCE Vietcombank 35,978 Agribank 31,000 Sacombank 14,852 Eximbank 13,591 Sahabank 11,197 ACB 10,273 Lien Viet Post Bank 9,000 HSBC Bank Vietnam 7,528 SeABank 7,466 Dong A Bank 6,000 VIB 5,500 An Binh Bank 5,320 Bao Viet Bank 5,200 OCB 5,000 NCB 4,510 Viet A 4,200 Nam A/Saigonbank 4,000 Kien Long 3,600 Date 2015 M&A, APPROVED BY SBV February 2 SBV acquires Vietnam Construction Bank March 23 Maritime Bank - Mekong Development Bank March 24 Public Bank Bhd to buy BIDV stake in VID Public Bank April 23 BIDV - Mekong Housing Bank April 25 SBV acquires Dai Duong Bank July 7 SBV takes over GP Bank M&A EXPECTED IN 2015 April 14 VietinBank - PG Bank April 20 Sacombank - Phuong Nam Bank July 10 Siam Commercial Bank to take over Vinasiam Vietnam caps foreign ownership in a domestic bank at 30 percent, with a 15-percent limit for a non-strategic investor. A foreign bank can own 10 percent and a non-bank investor that is not a strategic investor can own 5 percent. The government allows a foreign strategic investor to own 20 percent in a Vietnamese bank. In April 2015, the government said it would issue a decree soon to allow foreigners to own more than 30 percent of a Vietnamese bank. No further decision has been made since.

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The banking system includes 51 foreign bank branches, two joint venture banks, 16 financial firms and 11 financial leasing companies. There are also nearly 50 foreign bank representative offices. Vietnam, with a population of nearly 93 million, had issued 101.94 million bank cards at the end of March 2016, up 2.4 percent from the end of 2015, SBV data show. Vietnam allowed nine mergers and acquisitions in 2015 as part of the country's banking sector reform that started in early 2012. ($1=22,585 dong) http://www.reuters.com/article/vietnam-banks-assets-idUSL3N1HF2E9

10/APR/2017 INTELLASIA| BAO DAU TU

FINANCE Banks target to earn trillion dong profits The documents for the annual general meeting (AGM) of Techcombank (scheduled to take place on April 15 in Hanoi) show that the consolidated pre-tax profit in 2017 is targeted to touch more than 5.020 trillion dong, the charter capital reaches around 14 trillion dong, the total asset is increased to nearly 280 trillion dong, the capital mobilisation swells 31 percent and the outstanding credit improves 16 percent. At the end of 2016, the bank's total assets were 235.363 trillion dong, increasing 22.6 percent from 2015 and reaching 106 percent of the plan. The pre-tax profit was 3.997 trillion dong, up 96.2 percent from 2015 and fulfilling 113 percent of the plan. The total mobilisation was 173.449 trillion dong, up 21.9 percent from 2015 and attaining 101 percent of the plan. On April 10, Asia Commercial Bank (ACB) will organise the AGM. The bank's Board of directors said the 2017 pre-tax profit plan is submitted to shareholders at 2.205 trillion dong, up 32 percent from 2016; the credit growth stands at 16 percent; the capital mobilisation from customers' deposits and total assets also rise 16 percent. Thus, after a period of accelerating restructuring, ACB is gradually returning to the new track with the profit target of over one trillion dong. At the end of 2016, the bank's pre-tax profit reached 1.667 trillion dong, increasing 27 percent from 2015 and completing 111 percent of the whole year plan. ACB's outstanding loan last year increased rapidly, standing at 21 percent. Meanwhile, HCM City Housing Development Bank (HDBank) will hold the AGM on April 21. Last year, the bank achieved the total pre-tax profit at 1.282 trillion dong, the highest ever, up 63 percent from the previous year. In 2017, HDBank strives to lend 123.491 trillion dong and to attain 1.643 trillion dong pre-tax profit. Techcombank's Board of directors said in 2017, it will move in the direction of increasing contributions from service fee collection out of the total revenue to minimise credit risks and the dependence on outstanding loans. However, the risk provision pressure still weighs on profit target. To achieve the profit plan set for 2017, Do Minh Toan, CEO of ACB said the bank focuses on the credit growth for individual customers and small businesses; enhancement of customer service quality to improve fee income from service activity. Besides, ACB also focuses on handling and recovering bad debts; restructuring resources. As per the assessment of HDBank leaders, the business environment in 2017 is more favourable when credit is forecasted to gradually improve but there also have certain difficulties. Therefore, the profit target that this bank sets for this year must be considered carefully. For the group of state-owned joint stock banks, despite the good profits last year, they are also cautious. For example, Vietcombank's total assets are targeted to rise 11 percent; its credit is aimed to swell 15 percent; the non-performing loan (NPL) ratio is controlled at less than 1.5 percent and the pre-tax profit only hikes 12 percent (up 23.4 percent in 2016). Meanwhile, Vietcombank Securities Company (VCBS) supposes that Vietcombank

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will continue to maintain high growth rate due to the reduction in provisioning costs and the acceleration of core business activities. As per the assessment of a financial expert, this year's credit is likely to continue improving, but banks can hardly expect to exceed the industry's room at 18 percent. The reason is the State Bank wants to actively control credit risks especially real estate ones. Meanwhile, profits of Vietnamese banks mainly come from credit (accounting for as much as 80 percent. Le Anh Tuan, director of Economic Research Division at Dragon Capital said annual profits are given priority by banks to put for risk provisions, especially in banks with high NPL ratio. That also means shareholders must sacrifice dividends.

Banks plan to raise 10/APR/2017 INTELLASIA| TRI THUC TRE charter capital in large The annual general meeting (AGM) of banks has begun. In the plans for 2017, a com- number mon thing of banks is the demand for capital increase.

FINANCE VPBank is expected to hold the AGM on April 10. The bank said it wants to increase a total of more than 4.8 trillion dong compared to 2016. After the capital increase at the beginning of the year, the bank needs to raise an additional of about 3-4 trillion dong for the remaining time of the year. "With the outstanding credit plan of more than 200 trillion dong and the impact of Cir- cular 35/2016-TT-NHNN, to ensure the minimum Capital Adequacy Ratio (CAR) at nine percent, the bank's total equity must be at least 18 trillion dong. At the same time, with the target of ensuring the capital adequacy in accordance with internal governance standards as well as commitments with international partners and to prepare for business expansion plans for the following years, banks need to continue raising capital in their operations. With the bank's current charter capital at 10.765 trillion dong and the equity at about 15.4 trillion dong, in 2017, VPBank needs to supplement about 3-4 trillion dong to the charter capital to meet the bank's operational demands and ensure the compliance of safety ratios during its operational process". That is what VPBank leaders have sent to shareholders before the meeting. Techcombank - which is considered as a competitor of VPBank on the market - is also expected to increase capital in this year. Techcombank's charter capital is currently 8.878 trillion dong and it wants to increase to 13.878 trillion dong at the end of the year by offering shares for sale to existing shareholders. If the following plans are approved, VPBank and Techcombank will bring the capital to around 14 trillion dong, exceeding the capital scale of such banks as Eximbank, SHB and ranking behind only Sacombank (more than 18 trillion dong), MB (more than 17 trillion dong), SCB (nearly 14.3 trillion dong) in the group of private joint stock banks. LienVietPostBank is another bank that plans to increase capital in this year and has been supported by shareholders. This year, the bank will increase capital from 6.460 trillion dong to seven trillion dong through the issuance of 54 million shares, partly to make dividend payment to shareholders (38.76 million shares) and the remaining shares will be offered to the public or employees (15.24 million shares). ACB also plans to raise capital by nearly one trillion dong, from more than 10.2 trillion dong now. In the submission to shareholders to prepare for the meeting on April 10, the bank's leader said the capital increase is urgent because "new regulations of the State Bank are associated with the safety ratios such as credit granting with equity and charter capital. The capital increase will help banks increase the limits relating to credit granting to customers, supplementation of medium and long-term capital to finance credit activities, etc. and that the capital increase will help ACB improve financial capacity". Other banks have not had clear plans for the capital increase this year but SBV's regulations on safety limits are not for a single bank but the whole system. Therefore, to ensure the targets, banks have no other choice but to raise the chartered capital. The group of banks with super-small charter capital (less than five trillion dong) must be uncertain with the plans to raise their financial potential. Even, this pressure is even

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present and heavy for the largest banks in the system such as VietinBank, Vietcom- bank and BIDV as well as other private joint stock banks in the group of 10 banks that pilot applying Basel II since September 2017. And it is no exaggeration to say that the market will witness the charter capital increase "storms" of credit organisations in this year.

Q1 credit grows 10/APR/2017 INTELLASIA | THE SAIGON TMES sharply Unlike in previous years, credit had risen to a record high of 3.14 percent in the year to March 23 compared to end-2016, up from 1.79 percent in the same period last year, according to the central bank. The State Bank of Vietnam (SBV) said on April 5 that first-quarter credit went mainly to production and business activities, with outstanding loans making up about 80 percent of the total in the banking system. By March 23, money supply had increased by 3.36 percent and capital raising by the

FINANCE banking sector had picked up 3.07 percent against the end of 2016. Liquidity at banks was guaranteed and interbank operations went well. At present, the interest rates for deposits of six months or shorter range from 4.8 percent to 5.4 percent per year. For savings with tenors from six months to less than 12 months, the rates are 5.6-6.7 percent while those with a term of over 12 months are 6.7- 7.4 percent. Lending rates now range from 6 percent to 9 percent for short tenors and from 9 percent to 11 percent for medium and long terms. For good clients, short-term loan interest rates are 4-5 percent. As for the restructuring of banks and the settlement of bad debt, the central bank said solving the bad debt issue continued to be a priority in the first months of 2017. Bad debt accounted for less than 3 percent of total outstanding loans in the system. Concerning the VND100 trillion credit package for high-tech agriculture at the request of the government, the central bank said it would issue a decision telling banks to make loans available from April 2017 with annual interest rates that are 0.5 to 1.5 percentage points lower than normal levels. This credit programme does not enjoy any subsidy from the government. It favours those having sound projects and business plans, and getting involved in high-tech agriculture and clean industry. The government has asked the Ministry of Natural Resources and Environment and the Ministry of Justice to finalise guidelines for the issuance of certificates of ownership of assets on agricultural land so that those assets can be used as collateral for bank loans. http://english.thesaigontimes.vn/53343/Q1-credit-grows-sharply.html

Novaland backs out of 10/APR/2017 INTELLASIA | VNS Sacombank Novaland Group (NVL) on Wednesday said it would not participate in the restructur- restructuring project ing of Saigon Commercial Joint Stock Bank (Sacombank) as planned previously, Thi bao Kinh t Vietnam (Vietnam Economic Times) has reported. In December 2016, NVL had sent a letter to the SBV, expressing interest in participating in the restructuring of Sacombank. As per NVL's submission, the firm and its chair of board of directors Bui Thanh Nhn proposed to acquire 20 per cent stake in Sacombank, equivalent to 360.7 million shares of the bank. Sacombank's charter capital is currently VND18.036 trillion. The market price of Sa- combank shares as on March 24 was VND11,400 per share, which means that NVL will have to spend VND4.112 trillion on this acquisition. Explaining for the withdrawal, Nhn said during the time waiting for the State Bank of Vietnam (SBV)'s approval, a lot of negative information arose that was unfavourable to NVL. Restructuring Sacombank is a difficult task, which requires a lot of effort, money, time, transparency and determination as well as support from the central bank and the gov-

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ernment, he said. According to Sacombank's financial reports, its non-performing loan ratio at the end of 2016 stood at 5.53 per cent of the bank's total outstanding loans. Recently, there have been reports that heavyweights such as New York-based investment bank Evercore Group, M&A consulting firm Redsun Capital Limited and Dng Van Thanh, president of Thanh Thanh Cong Group (TTC), would likely participate in the restructuring of Sacombank. Sacombank is due to organise its annual general shareholders' meeting in April 28. The central bank has so far also required Sacombank to complete its management and administrative structure; continue implementing restructuring solutions to guarantee the rights and benefits of depositors; stabilise operations; and make sure its financial system is secure. NVL has VND7 trillion in charter capital, and 5,000 employees. The group currently operates two core businesses: real estate (NovaLand) and agriculture (Anova Corp). The capitalisation value of NVL is VND40.666 trillion, based on its share price on FINANCE March 24. The company's shareholders include many foreign investment funds, including the Singapore government's GIC. vietnamnews.vn/economy/374187/novaland-backs-out-of-sacombank-restructuring- project.html#v8pyKIKCb4WKsw3h.97

Investor group to 10/APR/2017 INTELLASIA | VNS strengthen The former chair of Sacombank, Dng Van Thanh, and prestigious international part- Sacombank ners will strengthen the financial capacity of Sai Gon Thuong Tin Commercial Joint Stock Bank (Sacombank) by increasing its charter capital by VND20,600 billion (US$907 million). They will also set up a Debt Settlement Committee to resolve the bad debts issue and recover assets, and use the available sources of income to provision for bad debts. It has also been reported that Evercore was recently authorised by competent authorities to access data from Sacombank and review and evaluate its performance to accurately assess the current status of the Bank. This would be the basis for mapping out a detailed, precise and specific restructuring plan and proposing specific mechanisms if necessary. Sacombank annual general meeting this year was the focus of attention of financial investors and the public due to the presence of wealthy investors, especially Thanh, the "father" of Sacombank. Thanh, returning to the financial and banking market after an absence of more than five years, and a group of foreign shareholders are considered to have a number of advantages over other suitors. With more than 20 years of experience working at the bank (1991-2012), Thanh is considered the "captain" who promoted the Sacombank brand both in the domestic and international markets. Evercore Group is a New York-based investment banking firm listed on the New York Stock Exchange with a market cap of $2.8 billion, while Redsun Capital Limited is a consulting firm specialising in M & A. Thanh Thanh Cong Corporation (TTC) was the place where Thanh and his family cut their entrepreneurial teeth in 1979 before entering the finance and banking sector. It has interests in many fields, including real estate, energy, molasses, hospitality, and education. TTC was also the company Thanh turned to for developing together with his family after relinquishing the management of Sacombank in 2012. When Thanh exited Sacombank in May 2012, there were lots of rumours surrounding the bank's operations, especially about corporate loans given to TTC Group, which affected the reputation of his family. But in April 2013 Sacombank officially released information about these loans, revealing the company was repaying them on schedule. The restructuring plan requires the expeditious setting up of a transparent, professional and capable regulatory body to oversee the restructuring and financing efforts.

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Thanh is expected to bring with him the advantage of having successfully managed not only a bank but also several other businesses. The Sacombank brand with its solid foundation has always been a name that investors and both domestic and international customers are interested in, thanks to its advantages such as long-established operation and retail banking potential. http://vietnamnews.vn/economy/374240/investor-group-to-strengthen-sacombank.html#TYWIeP3LvGcAwibI.97

The highly speculated 10/APR/2017 INTELLASIA | TUOITRE NEWS return of Sacombank's It is common practice for personnel to emerge as a topic that attracts the most attention 'father' from financial investors before the annual general meeting of any bank. This year, Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) is the bank that earns the most spotlight with the appearance of many investors with strong financial strength, especially the presence of Dang Van Thanh, the lender's "father".

FINANCE Officially returning after more than five years of absence in the financial and banking market, Dang Van Thanh and a group of foreign shareholders have been considered to hold a number of advantages over other candidates. With more than 20 years of experience working at the bank between 1991 and 2012, Thanh is considered the 'captain' who promoted the Sacombank brand name in both domestic and international markets. Thanh's decision to participate in Sacombank's restructuring came from the support and trust of existing shareholders and prestigious international partners, particularly the Evercore Group and Redsun Capital Limited. Evercore Group is a New York-based investment banking firm listed on the New York Stock Exchange with a market cap of $2.8 billion, while Redsun Capital Limited is a consulting firm specialising in M & A. Thanh Thanh Cong Corporation (TTC) was the place where he and his family cut their entrepreneurial teeth in 1979, before entering the finance and banking sector. The corporation operates in many fields, including real estate, energy, molasse, hospitality, and education. TTC is also the business where Thanh focused on developing with his family after the management transferring at Sacombank in 2012. At the time of Thanh's management transfer, May 2012, there was a lot of rumours surrounding the banking operations, especially corporate loans related to TTC Group, which greatly affected the reputation of his family. The rumours continued until April 2013, when a Sacombank representative released the official information that these loans are all in-term debts and have good credit his- tory. To date, Sacombank brand, with the solid foundation accumulated throughout the 20 years under Thanh's participation, remains a bright spot for investors and customers to consider. With the current financial strength, the group of investors - EverCorp and Dang Van Thanh, has proposed to supplement the financial capacity of Sacombank by increasing its chartered capital by VND20,600 billion to fundamentally improve the safety activity indicators. The next step is to set up a debt settlement committee focusing on resolving bad debts and recovering mortgaged assets, and using the available income sources to make provisions for bad debts. Evercore has been recently authorised by competent authorities to access data, review and evaluate the performance of Sacombank to accurately assess the current situation of the lender, according to a source with knowledge of the matter. This will be the basis for the elaboration of a detailed, precise and specific restructuring plan, as well as proposals of specific mechanisms if necessary. It can be said that Sacombank today remains a name worth watching for investors, domestic and international customers, thanks to the advantages of operating platform and potential for retail banking development. Therefore, this restructuring plan poses an urgent requirement for the development of

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a professional, transparent, qualified, and capable administrative system to address the restructuring and financing efforts. This is considered a special advantage for Dang Van Thanh, who has successfully applied the 'executive management formula' in areas he has invested in. http://tuoitrenews.vn/business/40415/the-highly-speculated-return-of-sacombanks- father

Eximbank plans to sell 10/APR/2017 INTELLASIA| VNECONOMY entire stake in Vietnam Export Import Commercial Joint Stock Bank (Eximbank) has released the Sacombank draft document for the 2017 annual general meeting (AGM) including the plan to sell the entire shares at Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank). Specifically, Eximbank plans to firstly meet requirements in the State Bank's Circular No.36 on limits and adequacy ratio in the operation of credit organisations i.e. "Com- mercial banks are only allowed to purchase and hold shares of another credit organi-

FINANCE sation at less than five percent of shares with voting right at that credit organisation". In 2016, the Banking Supervision Agency under the State Bank issued a document relating to Eximbank's share transfer at Sacombank. On February 17, 2017 Eximbank's board of directors had a resolution approving the policy of transferring shares at Sacombank. And in the draft document for this year's AGM, Eximbank's board of directors present the detailed share transfer plan. Currently, Eximbank is holding 8.76 percent stake in Sacombank. The bank's board of directors calculate that in case Sacombank's STB-coded share transaction is expected to increase more than the current price (12,400 dong on April 4, 2017, the time of draft- ing the document), it is likely that the total transaction value of STB shares will exceed 20 percent of Eximbank's charter capital stated in the latest audited financial report. Accordingly, Eximbank's board of directors is going to submit to the upcoming AGM the share transfer of the entire shares at Sacombank in case the total sale transaction value of these shares at Sacombank is from 20 percent or above compared to Ex- imbank's chartered capital recorded in the latest financial statement.

Q2 GDP growth 10/APR/2017 INTELLASIA | VNA forecast: 5.6pct Vietnam's GDP in the second quarter of this year is forecast to expand 5.6 percent or 6.27 percent, depending on two scenarios, expert said. Dang Duc Anh, director of the National Centre for Socio-Economic Information and Forecast (NCEIF)'s analysis and forecast department, said this at a discussion on the country's macro-economic growth forecast, held in Hanoi on April 5. Under the first scenario of 5.6 percent GDP growth, Anh said that processing and manufacturing industries in Q2 would grow higher than in the first quarter, and the slowdown of the mining industry would be lower than that in Q1. The foreign exchange rate would be relatively stable and credit growth would continue to rise in Q2, Anh said, adding that disbursement of State investment capital would be also higher than Q1. In the second scenario, the GDP would grow 6.27 percent in Q2, owing to the recovery of the mining sector, with exploitation output at the same level as 2016; the disbursement of State investment capital would be strong; and the processing and manufacturing industry would grow higher than it did during the same period last year. The Q2 GDP in 2016 expanded 5.57 percent. At the discussion, experts pointed out that Vietnam's economy would be influenced significantly by global scenarios such as the recovery of world trade and economy, oil price fluctuations and development of the global finance market in the wake of the US Federal Reserve's interest rate hike. In the domestic market, business confidence of local enterprises is stable, experts said. More than 50 percent of the firms expect their number of business contracts in Q2 to be higher than Q1. Investment by private and foreign direct investment firms is also expected to rise in Q2

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owing to the government's efforts to improve the business climate. To meet the government's GDP growth target of 6.7 percent in 2017, NCEIF director Nguyen Thi Mai Thu suggested that the State work to further stabilise the macro economy to be able to create more confidence among investors and the business community. It will also be necessary to speed up the disbursement of State investment capital and government bonds, she added. The government should also closely monitor the implementation of tasks raised in its Resolution 19/2016/NQ-CP on improving the business climate and the national competitive edge, and on the action programme on economic restructuring in the 2017-20 period. Though exports are forecast to rise significantly in the next few months, expert Can Van Luc recommended that export firms be active in material resources. According to the General Statistical Office (GSO), Vietnam's GDP growth in the first quarter of 2017 was only 5.1 percent, lower than the 6.72 percent and 5.48 percent growth rates during the same period in 2015 and 2016, respectively. Ha Quang Tuyen, director of GSO's national account department, said there are three FINANCE reasons why the growth rate has been weaker than forecast in Q1. First, the lingering effects of drought and saltwater intrusion from last year led to a sharp drop in rice production, which led to a contraction in the plant cultivation sub- sector. Second, industrial growth slowed to 4.1 percent against 7.4 percent recorded in the first three months of 2016, mainly the result of a manufacturing slowdown. Notably, electronic production shrank 1 percent compared to the 11.3 percent growth last year because of Samsung's poor performance. Third, the mining sector has been hit by the government's attempts to balance growth and the exploitation of natural resources, as part of its drive to restructure the economy and renew the growth model. en.vietnamplus.vn/q2-gdp-growth-forecast-56-percent/109876.vnp

HCM City: Private 10/APR/2017 INTELLASIA | THE SAIGON TIMES sector to contribute HCM City is looking to have at least half a million enterprises by 2020, of which major 65pct to GRDP firms and those in the private sector will contribute about 65 percent to the city's gross regional domestic product (GRDP) and 64 percent to the city's total investments by then. The city said in a report delivered at a meeting on Wednesday that it was planning to have 60,000 new enterprises this year and increase the number of enterprises citywide to 500,000 by 2020. Data shows local private and foreign-invested enterprises (FIEs) far outdid SOEs in 2005-2014 in terms of contribution to the city's GRDP. The gap of GRDP contribution between the state and private corporate sectors has steadily widened. In 2005, when the GRDP of the city was VND165 trillion, nearly VND58 trillion of it came from SOEs while private enterprises contributed VND43.3 trillion and FIEs VND36 trillion. In 2014, HCM City's total GRDP stood at VND852 trillion, with VND202 trillion of it sourced from the foreign-invested sector and VND422 trillion from the domestic private sector. In 2011-2015, investments by non-state enterprises accounted for some 61 percent of the total, while SOEs and FIEs represented 21 percent and 18 percent respectively, according to data from the HCM City Institute for Development Studies. To achieve the target of having 60,000 startups this year, the city government has pledged to carry out administrative reforms to make life easier for businesses, said a source from the HCM City Department of Planning and Investment. City and district authorities will organise regular public dialogues, at least twice a year, between their leaders and the business community. City agencies will have to abolish about 30 percent of their meetings to have more time to visit enterprises and listen to their recommendations. Administrative costs should be brought down to ease the business cost burden.

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Tran Thi Binh Minh, deputy director of the Department of Planning and Investment, said that to household businesses to upgrade themselves to companies, the city will consider shortening the time required for issuance of a business registration certificate to a single day. Household businesses will not have to pay any fees for registration of conversion into companies and all costs arising from their tax code registrations will be exempted in the first year. In addition, their staff will be offered training courses to improve their knowledge of startups and accounting while low-interest loans will be made available for them. HCM City will help all converted enterprises to find outlets for their products on the domestic market, with priority given to small and medium businesses that set up shop in export processing zones and industrial parks in the city, said Minh. HCM City vice chair Le Thanh Liem said there were now 302,000 firms active in the city. http://english.thesaigontimes.vn/53342/HCM City-Private-sector-to-contribute-65-to- FINANCE GRDP.html

Vietnam should not 10/APR/2017 INTELLASIA | VIETNAMNET aim to become Vietnam should not continue to try to become an industrial power and instead should industrial power: shift to developing agriculture and tourism, according to economist Le Xuan Nghia, economist head of the Business Development Institute (BDI). Nghia, who was deputy chair of the National Finance Supervision Council, said: "I have little hope that Vietnam would become an industrial power. That seems far- fetched. But it is very likely that Vietnam would become a great power in farm produce, and tourism thanks to its great advantages in the fields." The fourth industrial revolution is expected to create big changes in the global economy. It is expected that robots will replace people in many works, which will reduce the labour cost to less than one-third of the current cost. expected to create big changes in the global economy. It is expected that robots will replace people in many works, which will reduce the labour cost to less than one-third of the current cost. This would make it difficult to bring labour from the agriculture sector to the industrial sector in the future. Nghia hopes that Vietnam may become a power in agricultural production and tourism with clear advantages in tropical farm produce and natural wonders. In fact, developing hi-tech agriculture has been mentioned repeatedly by the government and experts in many recent conferences. The government has announced that a huge credit package worth VND100 trillion, the largest ever fund in the field, will be disbursed to help develop agriculture. Commenting about the policies to develop agriculture, Hoang Trong Thuy, an agriculture expert, said the biggest problem in agriculture development is the management bodies' thinking. The policy 'nguoi cay co ruong' (all ploughmen must be given land) has always been the ruling motto in Vietnam in the last many years since Vietnam began land reform tens of years ago. Not only impeding the transfer of agriculture land, the old thinking has made it im- possible to capitalise land. No matter how large it is, land cannot serve as mortgage for bank loans. As a result, businesses lack capital to expand their production. Meanwhile, banks cannot set higher prices for land prices because the state only considers land as a means of production. "It is necessary to consider land as an input factor of production," Thuy said, adding that since land is still not an input factor of production, it is being wasted. Thuy said the land bank could be a good solution to help avoid the ineffective use of land. However, the tardiness in setting up the land bank is partially blamed on farmers, who try to keep agricultural land even though they have left and given up farming.

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FDI inflows not 10/APR/2017 INTELLASIA | NATIONMULTIMEDIA improving quality of THE LARGE foreign direct investment in Vietnam is not reflecting in the country's VN's growth economic growth, officials said. The number of new enterprises established in Vietnam has gone up and the inflow of foreign direct investment into the country has increased, but the quality of national growth remains unaffected or diminished. After several decades, officials have begun to highlight the discrepancy between quan- titative and qualitative growth, showing that an increment in the former does not lead to an improvement in the latter. Nguyen Bich Lam, deputy director of the General Statistical Office (GSO), says that despite the large amount of newly established businesses in 2016, goods and service production has yet to contribute adequately to national economic growth as expected. In a GSO financial report for the first quarter released last week, Lam notes that 35.4 per cent of new businesses in Vietnam are in the retail sector and car maintenance serv-

FINANCE ices, both of which do not generate any tangible product. Only 13.72 per cent of businesses In the first quarter of 2017, economic progress has been weak, with a GDP growth of 5.1 per cent, lower than the same period in 2015 (6.03 per cent) and 2016 (5.46 per cent). "About 97 per cent of newly registered businesses are medium, small and extra small. This means the average scale of labour force, capital and added value would ultimate- ly diminish despite the rise in quantity," said Pham Dinh Thuy, director of GSO's In- dustrial Statistics Department. The large amount of foreign direct investment (FDI) into Vietnam does not add to economic growth either, despite having higher productivity, he said. This is because FDI businesses focus on assembling products using imported materials, instead of domestically produced ones. Furthermore, domestic businesses are having trouble competing at home against imported products from China, Thailand or Malaysia, thus generating even less income and profit. Other difficulties cited by businesses include low domestic demand, financial troubles, lack of human resources and high interest rates, which deter them from making a better contribution to the quality of national growth. In 2016, over 110,000 businesses were registered, of which 98,757 or 89.7 per cent, became operational the same year. The total registered capital was 271.2 trillion dong (Bt419 billion), an 11.4 per cent increase in number and 45.8 per cent increase in capital from the year before. With another 26,478 businesses established in the first quarter of 2017, the number of newly opened enterprises has hit a record high in the last six years, according to the Enterprise Development Agency under the Ministry of Planning and Investment. However, the number of dissolved businesses remains a matter of concern. From Jan- uary until March 2017, 23,904 businesses had closed down, which is about 90 per cent of newly established ones. This is a 12-per-cent increase over the number of businesses that failed last year during the same period, 92 per cent of them small ones with registered capital of less than 10 billion dong each. http://www.nationmultimedia.com/news/business/aec/30311816

When more is less: VN 10/APR/2017 INTELLASIA | VNS growth deficient in The number of new enterprises established in the country has gone up and the inflow quality of foreign direct investment into the country has increased, but the quality of national growth remains unaffected or diminished. After several decades, officials have begun to highlight the discrepancy between quan- titative and qualitative growth, showing that an increment in the former does not lead to an improvement in the latter. Nguyen Bich Lam, deputy director of the General Statistical Office (GSO), says that despite the large amount of newly established businesses in 2016, goods and service pro-

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duction has yet to contribute adequately to national economic growth as expected. In a GSO financial report for the first quarter released last week, Lam notes that 35.4 per cent of new businesses in Vietnam are in the retail sector and car maintenance services, both of which do not generate any tangible product. Only 13.72 per cent of businesses aree in the manufacturing sector, so real value contributed to the economy by new enterprises is limited. In the first quarter of 2017, economic progress has been weak, with a GDP growth of 5.1 per cent, lower than the same period in 2015 (6.03 per cent) and 2016 (5.46 per cent). "About 97 per cent of newly registered businesses are medium, small and extra small. This means the average scale of labour force, capital and added value would ultimate- ly diminish despite the rise in quantity," said Pham Dinh Thuy, director of GSO's In- dustrial Statistics Department. The large amount of foreign direct investment (FDI) into Vietnam does not add to economic growth either, despite having higher productivity, he said. This is because FDI businesses focus on assembling products using imported materi- FINANCE als, instead of domestically produced ones. Furthermore, domestic businesses are having trouble competing at home against imported products from China, Thailand or Malaysia, thus generating even less income and profit. Other difficulties cited by businesses include low domestic demand, financial troubles, lack of human resources and high interest rates, which deterd them from making a better contribution to the quality of national growth. In 2016, over 110,000 businesses were registered, of which with 98,757 or 89.7 per cent, became operational the same year. The total registered capital was VND271.2 trillion (US$12.1 billion), an 11.4 per cent increase in number and 45.8 per cent increase in capital from the year before. With another 26,478 businesses established in the first quarter of 2017, the number of newly opened enterprises has hit a record high in the last six years, according to the Enterprise Development Agency under the Ministry of Planning and Investment. However, the number of dissolved businesses remains a matter of concern. From Jan- uary until March 2017, 23,904 businesses had closed down, which is about 90 per cent of newly established ones. This is a 12 per cent increase over the number of businesses that failed last year during the same period, 92 per cent of them small ones with a registered capital of less than VND10 billion ($449,000) each. http://english.vietnamnet.vn/fms/business/176076/when-more-is-less--vn-growth-deficient-in-quality.html

Vietnam to halve 10/APR/2017 INTELLASIA | VN EXPRESS corporate coverage of The unemployment insurance fund has a huge surplus, estimated at nearly $2.5 billion unemployment at the end of last year. insurance to boost The Vietnamese government said it has agreed to cut half the coverage of unemploy- competitiveness ment insurance by employers to 0.5 percent of their salary fund to free up more funds for expansion and raising competitiveness. The government will also stop its contribution to the unemployment insurance fund thanks to its current huge surplus, leaving employers and employees the only contrib- utors, it said in a statement Saturday. Under current regulations, employers, employees and the government each contribute 1 percent to the unemployment insurance fund, used to assist employees when they become unemployed, to facilitate vocational training or introduction and consultation of jobs. The fund is also used to cover health insurance for those who lose a job. The labour ministry will draft an amendment on the change and seek National Assem- bly approval for the reduction, prime minister Nguyen Xuan Phuc said in a government resolution signed late Friday. The agreement is in place thanks to "a huge surplus of the unemployment insurance fund in 2015, 2016 and [expected] in several subsequent years", the government state-

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ment said. It estimated the surplus at nearly VND56.5 trillion ($2.5 billion) at the end of last year, adding that by 2020 the fund will still be safe. "Along with the relatively high surplus of the unemployment insurance fund, it is necessary to amend the contribution to the fund to provide conditions for raising competitiveness and developing businesses," the government statement said. It was not immediately clear if the labour ministry could complete its draft for submission to the National Assembly's next session, which is scheduled to last a month starting May 22. Vietnam's economy this year has shown its first slowdown since 2014, with annual expansion slowing to 5.1 percent in the first quarter, based on government data. Hanoi has targeted to accelerate economic growth this year to 6.7 percent, from 6.2 percent in 2016. In order to better facilitate expansion, Premier Phuc has asked government officials to look at ways to raise the total investment for development to 35 percent of the gross FINANCE domestic product, from 32 percent in the first quarter. Nearly 40 percent of the total investment comes from the fast expanding non-state sector. Last year the number of new businesses in Vietnam hit a record high of 110,000. Be- sides, some 600,000 small and medium-sized companies employ 52 percent of the workforce, based on Vietnam Chamber of Commerce and Industry data. Even though Vietnam further reported a rising number of new businesses in the Janu- ary-March period, most of them are small, officials have said. The unemployment rate among Vietnamese people in the working age stood at 2.3 percent in the first quarter of 2017, unchanged from the end of 2016 but up from 2.25 percent recorded in the first quarter of 2016, based on government data. e.vnexpress.net/news/news/vietnam-to-halve-corporate-coverage-of-unemployment- insurance-to-boost-competitiveness-3567263.html

Mekong Delta has 10/APR/2017 INTELLASIA | VNA good economic The Mekong Delta has been evaluated as a region having good economic governance governance since the Provincial Competitiveness Index (PCI) was first announced 12 years ago, heard a workshop. The People's Committee of Vinh Long province and the Vietnam Chamber of Com- merce and Industry (VCCI) branch in Can Tho city held a workshop in Vinh Long on April 5 to analyse the PCI 2016 in the delta. In 2016, Dong Thap ranked third nationwide in the PCI. Other localities such as Can Tho, An Giang, Ca Mau, Tien Giang, Ben Tre and Soc Trang also witnessed improvements. Vinh Long, in particular, recorded 62.67 points in the PCI, ranking second out of the 13 Mekong Delta cities and provinces and rising from 19th to 6th sixth place nationwide. According to Secretary of the provincial Vinh Long Party Committee Tran Van Ron, the province has focused on improving the investment climate and administrative reform. Director of the VCCI Can Tho Vo Hung Dung said the PCI is an effective tool to manage the local economy because localities with PCI ranking improvements have seen better economic growth. Head of VCCI Legal Department Dau Anh Tuan said the Mekong Delta performed well on the PCI due to easy access to land, quick administrative procedures, a fair business environment and proactive provincial leadership in solving problems for enterprises. However, entrepreneurs expect the region to further improve labour quality and administrative procedures while increasing consultations with businesses to tackle difficulties, he said. The Mekong Delta spans 40,576 sq. km and has 13 cities and provinces, namely Can Tho, An Giang, Ben Tre, Bac Lieu, Ca Mau, Dong Thap, Hau Giang, Kien Giang, Soc

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Trang, Long An, Tien Giang, Tra Vinh and Vinh Long. http://en.vietnamplus.vn/mekong-delta-has-good-economic-governance/109887.vnp

Vietnam develops 10/APR/2017 INTELLASIA | VOV logistics services for Logistics services play an important role in connecting transportation and socio-eco- exports nomic development. Logistics in Vietnam is gradually improving, helping domestic exporters and importers cut costs and increase their competitiveness against foreign rivals. Vietnam now has more than 1,300 logistics firms including foreign companies. The domestic logistics market is estimated at $22 billion per year, accounting for almost 21 percent of the national GDP. The annual World Economic Forum's Global Competitiveness Report shows that Viet- nam is ranked below many other regional countries because of lagging transportation services.

FINANCE According to the World Bank, Vietnam's logistics ranks 64th of 160 countries around the world and 4th within Asean after Singapore, Malaysia, and Thailand. Vietnamese logistic companies are mostly small or medium-sized, scattered in different areas and lacking connectivity. "A lower transportation volume makes logistic costs in Vietnam more expensive than many other countries. It costs about $40,000 for logistics services in a populated area in the UK but the figure in Vietnam can reach $140,000," said Tran Anh Vuong, Secre- tary general of the Vietnam Private Economic Forum. Tran Thanh Hai, deputy director of the Export-Import Department of the Ministry of Industry and Trade, said Vietnam has sufficient conditions to develop its logistics industry thanks to its bustling export-import market whose revenues exceeded $300 billion last year. Improving domestic logistic services will create a major breakthrough for exports. "First, a legal framework for the logistics sector should be completed along with more policies to support its growth. Second, we'll upgrade transportation infrastructure ranging from bridges, roads, stations, and ports to warehouses and logistics centers," Hai said. The prime minister recently issued a decision to boost the competitiveness of Viet- nam's logistics service by 2025, under which logistics will contribute 8-10 percent of GDP to make Vietnam one of the world's 50 leading logistics services providers. "We hope that logistics companies will receive the most favourable conditions to operate efficiently, including access to preferential loans. This is the foundation for SMEs to run well," said Chair of the Vietnam Logistics Association (VLA) Le Huy Hiep. http://english.vov.vn/economy/vietnam-develops-logistics-services-for-exports- 346527.vov

Leather and footwear 10/APR/2017 INTELLASIA | VNS exports could reach Vietnam is targeting to earn between $24 billion to $26 billion from leather and foot- $26 billion by 2020 wear exports by 2020 under a revised plan for leather and footwear industry development until 2025 with a vision to 2035. The Ministry of Industry and Trade held a seminar in HCM City on April 7 to collect comments from experts and enterprises in the industry on the revised plan. According to the revised plan's overall objectives, the leather and footwear industry will develop at a high speed to maintain its position as one of the country's key export industries and create more jobs with improved incomes for workers. Implementing better corporate social responsibility and raising the number of trained labourers are other objectives of the project. Under the revised plan, the sector's annual production value is expected to grow by 11.62 per cent in the 2016-20 period, 8.87 per cent in the 2021-25 period and 6.04 per cent in 2026-35 period. In addition, it would strive to achieve an annual export growth rate of 10-15 per cent in the 2016-20 period, 8-9 per cent in the 2021-25 period and 4-5 per cent in the 2026-35

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period, with export revenues expected to reach $24-26 billion by 2020, $35-38 billion by 2025 and $50-60 billion by 2035. It also targets to raise the local content rate in footwear products to 45 per cent by 2020, 47 per cent by 2025 and 55 per cent by 2035. Assessing the implementation of the master plan for Vietnam's leather and footwear industry development until 2020 with a vision to 2025, which was approved in 2010, Nguyen Mnh Khoi, deputy director of the Leather and Footwear Research Institute, said after five years of executing the plan, the Vietnamese leather and footwear industry has developed strongly and made positive contributions to the country's economy. Some targets set out in the master plan have been implemented quite well, such as ba- sically completing the equitisation of State-owned enterprises, and forming joint ventures and cooperating with all economic sectors, which created conditions for businesses in the sector to thrive. The sector has invested in upgrading equipment, building new large-scale plants with advanced equipment and technology to raise the production capacity for the sector, he FINANCE said. Most of the companies have applied a management system in accordance with ISO 9000, ISO 14000, SA 8000, as well as perform corporate social responsibility. But some targets have not been accomplished, he said. For instance, the local content rate in products remained low at about 35-40 per cent, he said, adding that the number of enterprises applying automation in designing and developing products is also modest. Other targets, including the transformation of product structure and establishing a specialised industrial zone for the sector, especially for leather tanning, have not been done, he said. Delegates at the seminar said demand for raw materials would also surge strongly, and so if supporting industry is not developed in the coming years, the industry would have to depend greatly on imports, which would make it hard to accomplish its targets. There are some 1,700 enterprises in the sector in Vietnam, of which 800 are large. Foreign-invested enterprises account for 80 per cent of the sector's exports. Leather and footwear products are among Vietnam's key export items, with exports reaching $16.2 billion last year, accounting for 10 per cent of the country's total exports. They are expected to top $17.88 billion this year. The country is the third largest footwear maker and second largest exporter in the world. http://vietnamnews.vn/economy/374315/leather-and-footwear-exports-could-reach- 26 billion-by-2020.html

Hanoi expects to have 10/APR/2017 INTELLASIA | VNA 40,000 new enterprises Hanoi expects to have 40,000 new enterprises in 2017, with about 30-35 percent of them in 2017 operating in the innovation and creativity fields. The city also plans to establish a service area to support start-ups in the year. To realise the targets, the municipal authorities have taken various measures, focusing on administrative reform and preferential policies. Enterprises will be supported through programmes and projects, helping them improve competitiveness and build brands. Newly-established enterprises are expected to create jobs for 150,000 labourers, and contribute 40 percent to the city's GDP. Last year, the number of newly-established firms in Hanoi was 36,442. Most of these operate in real estate, health care and social assistance and education- training. http://en.vietnamplus.vn/hanoi-expects-to-have-40000-new-enterprises-in-2017/ 109881.vnp

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HCM City set on goal 10/APR/2017 INTELLASIA | VNA of 500,000 businesses A HCM City leader has instructed all municipal departments and districts to map out by 2020 specific plans and measures to encourage household businesses to transform into enterprises towards the goal of developing 500,000 enterprises by 2020. At a recent conference on implementing the business development plan, Le Thanh Liem, vice Chair of the municipal People's Committee also stressed the quality of businesses while working towards the goal. He told the conference that the municipal People's Committee has put forward strategic measures, with the focus on reforming administrative procedures, creating a favourable environment for startup and innovation businesses, and ensuring equality among businesses in accessing loans and business opportunities. Meanwhile, Tran Thi Binh Minh, deputy director of the municipal Department of Planning and Investment, stressed the need for synchronous measure to support both the operation of existing firms and the transformation of household businesses.

FINANCE She suggested that it is necessary to popularise the benefits of the transformation and provide assistance to household businesses in the form of consultation on business establishment and tax declaration procedures as well as help in product marketing. Sharing the same viewpoint, deputy director of the municipal Tax Department Le Duy Minh stated that his department has introduced a support programme designed specifically for start-ups, including both newly-established and transformed firms. Regarding the goal of 60,000 businesses in 2017, Liem said that it is feasible as the number of new enterprises is estimated at 43,000, while the municipal People's Com- mittee assigned the target of transforming 20,000 household businesses for districts. http://en.vietnamplus.vn/hcm-city-set-on-goal-of-500000-businesses-by-2020/ 109905.vnp

Vietnam's transport 10/APR/2017 INTELLASIA | VNEXPRESS ministry rejects airfare The ministry has decided to keep the floor price at zero. floor price proposal Vietnam will not set a floor price for air tickets despite proposals by national flag carrier Vietnam Airlines and its subsidiary Jetstar Pacific, a government minister has said. "If airlines are able to lower their prices, why should we stop them?" Transport minister Truong Quang Nghia said at a meeting Friday. "Our job is to make sure price cuts and promotions adhere to the law," he told a ministry meeting. Regulations on air tickets will remain unchanged, and no floor price will be set. The ceiling price may be adjusted from time to time. Last month, Vietnam Airlines suggested a floor price for domestic air fares of between VND1.54 million and VND4.2 million ($68-$185). Jetstar Pacific, one of Vietnam's two budget airlines, proposed the floor be set at between VND600,000 and VND1.2 million. But VietJet Air, the country's only private airliner, said setting a price floor is not a common rule worldwide and is against Vietnam's competition law. Vietnam Airlines has been offering air fares starting from VND800,000, but cited a drop of nearly 20 percent in average spending per passenger as well as higher fuel prices and foreign exchange rates as reasons to introduce a floor price. Vietnam's aviation market has potential for expansion after annual growth of 29 percent in 2016, with passengers reaching 52.2 million, based on data of the Civil Aviation Authority of Vietnam. Cashing in on low fuel prices and budget airlines, the new Vietnamese middle class are flying in ever-greater numbers within Southeast Asia. http://e.vnexpress.net/news/business/economy/vietnam-s-transport-ministry-rejects- airfare-floor-price-proposal-3567077.html

Transforming auto 10/APR/2017 INTELLASIA | VOV assembly to Despite all the fanfare in the local media about the growing consumer demand for au- component tos in Vietnam, domestic assembly of vehicles has always lagged far behind the coun- manufacturing try's Southeast Asian peers. Factually, Vietnam has never been a manufacturer of autos as many press reports pro-

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fess, but rather a more accurate statement would be that the country has had a fledging automotive assembly industry. In 2015, the auto assemblers operating in the country churned out only an estimated 250,000 vehicles, compared to the more than 2.9 million imports from Thailand and In- donesia. Much of the lack of competitiveness can be attributable to the fact that the localisation rate for autos has historically been only about 10 percent, meaning that 90 percent of the components of the vehicle must be imported from other countries, which has always added substantial cost. The production cost per vehicle in Vietnam has been at least 20 percent higher than that of neighbouring countries in Southeast Asia for the past several years, the automotive assemblers in the segment have said. Had it not been for protectionist measures such as high import tariffs, they added, the industry would have died years ago as they have been the only thing that has kept it afloat. FINANCE However, with the coming into force of the Asean Economic Community and once the border tax on auto imports is eliminated in its entirety -- it will no longer make good economic sense to assemble cars in Vietnam. Logically, companies like Toyota and Ford will inevitably shift their production away to other countries Given that the auto assembly segment is doomed, Chris Humphrey, the managing director of the Asean- EU Business Council, has gotten out front of the issue and is promoting transforming the segment into a parts and component manufacturer for assemblers based in other countries such as Thailand and Indonesia. In other words, Humphrey is suggesting the industry transform from low value assembly work to high value component manufacturing. Currently there are some advocating for the Vietnam government to introduce legis- lation to create special consumption taxes on imported vehicles to raise funds to continue to subsidise or prop up the assembly industry. Humphrey argues that this really amounts to nothing more than trying to circumvent the Asean and other free trade agreements. Those that support these protectionist measures did not want free trade to begin with -- and would have preferred bilateral trade agreements keeping in place protectionist measures for the assembly segment. But why anyone would go to such great lengths to protect unprofitable assembly work is hard to understand when there are much more lucrative alternatives. It is important to keep in mind that the forces driving the increased consumer demand for autos in Vietnam is the rise in the middle income ranks among the population, leading economists have said. The momentum in higher incomes among the populous can only continue by shifting the economy from low value to high value industries whether those segments be in the manufacturing, retail or any other sector of the economy. Vietnam imported 19,000 units in the first quarter of 2017, a 69 percent jump from the same three month period a year ago, customs data showed. The import surge comes as higher salaries and wages drive Vietnamese consumers to switch from motorbikes to autos, with more than half of the imported autos classified as midsize sedans, according to the same data. english.vov.vn/economy/transforming-auto-assembly-to-component-manufacturing- 347206.vov

VNREA pushes for 10/APR/2017 INTELLASIA | VNS low-cost housing The Vietnam Real Estate Association (VNREA) has again proposed that the govern- policy ment formulate policies for developing small, inexpensive apartments smaller than 75sq m and cheaper than VND15 million per sq m. At its annual meeting held in the central Binh Dnh Province last week, the VNREA drew up five proposals to be submitted to the government. The association has proposed the reduction of value-added and corporate income tax

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for cheap housing projects, and has recommended that such projects get preference for land funds and bank loans. VNREA's chair Nguyen Tran Nam said the market still faces risks such as unbalanced goods structure, meaning, the demand from a majority of the population is for mid- and low-cost houses, while most projects in the market are high-end. "The market lacks products that suit the finances of the majority. The two big cities of Hanoi and HCM City have only a small number of new apartments priced under VND20 million per sq m," Nam said. Projects, especially in large cities, are not coming up based on demand in specific localities. The development of social housing projects has been slow as capital and policies are not in sync with market reality. The VND30 trillion housing stimulus package, launched in 2014, supported low-income buyers, and people were given a preferential interest rate of 5 per cent for within 15 years. However, after the package period got over, no new credit policies have been introduced to encourage cheap apartment projects, said Phm S Liem, former deputy FINANCE minister of construction. "The government should focus on credit for the development of low-cost housing projects. Developers selling apartments for VND10-15 million per sq m should get access to preferential loans," he said. Liem pointed out that many countries have such policies in place to encourage low- cost housing projects. Last November, the association made a similar proposal to the National Assembly on the local real estate market after it met in October. The VNREA has also asked local authorities to determine the ratio of social, commercial and high-end housing projects, to balance the real estate demand. Based on real demand, localities should make decisions on granting land and construction. The association has also suggested a collaboration between the ministries and the State Bank of Vietnam to fix suitable credit resources and avoid concentration on only certain market segments. http://vietnamnews.vn/economy/374296/vnrea-pushes-for-low-cost-housing-policy.html#uRMeIJWzjjHuFpl4.97

Vietnam's aging 10/APR/2017 INTELLASIA | VIETNAMNET population expected The World Bank has estimated that by 2030, nearly one-fifth of Vietnamese will enter to work longer in old age and around 40 percent of the population aged 70-74 will still have to work, future mostly in the unofficial labour market. Nguyen Thi Be, about 60, from Thai Binh province, has been living and working as a housemaid for a family in Hanoi for nearly one decade. Thai Binh was considered the rice granary in the north. However, Be said, the rice fields in her homeland have been left uncultivated for years. It is because farmers now cannot earn their living only on field work. Be said there are many local people like her: they have left the countryside for large cities where they find the jobs as hired workers for factories or households. The income they get from the jobs is just high enough to cover their basic needs, but it is higher than the income from farm work. With no social insurance, no accumulative assets and no support from children, they have to work hard in difficult conditions, and in many cases, in conflict with the laws. Official reports all show that Vietnam is getting richer, but the number of people like Be has been increasing rapidly. A report of the Central Institute of Economic Management (CIEM) on the economic growth in rural areas released in 2015 showed that rural people are getting poorer. In 2014, farmers' net income was VND51.7 million per annum, much lower than VND84.7 million in 2012. The number of rural people unsatisfied with their lives increased by six percentage points, from 50.1 percent in 2012 to 56.1 percent in 2014. Pham Quang Tu from Oxfram Vietnam warned that the situation may be even gloom- ier. The unemployment rate among the working-age population is increasing. The situation is unlikely to improve as private firms are struggling in the open market

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and meeting difficulties in accessing capital and technology resources. If the economy does not provide enough jobs for working-age people, the number of older people who still have to work to earn their living will increase. It is foreseeable that the 'golden population' period in Vietnam would be over in 10 years. By that time, the people at working age will become old, who, together with those losing their work capability, will be a burden on the pension fund. According to the World Bank, by 2030, nearly one fifth of the population will enter old age, while the figure would be 30 percent by 2050. http://english.vietnamnet.vn/fms/business/175880/vietnam-s-aging-population-expected-to-work-longer-in-future.html

Vietnam among top 10/APR/2017 INTELLASIA | VNA five foreign investors With 183 valid projects worth 2.85 billion USD by the end of December 2016, Vietnam in Cambodia continues to be among the top five foreign investors in Cambodia.

FINANCE Vietnam is now the third biggest trade partner of Cambodia, with two-way trade reaching 3 billion USD in 2016. In the first two months of 2017, bilateral trade hit 624.1 million, up 21.2 percent compared to the same period last year. The two countries are striving to increase the figure to 5 billion USD. The figures were released by Vietnamese Ambassador to Cambodia Thach Du at a recent business conference. He attributed thriving trade ties to the two countries' friendship, close geographic location and government support, adding that there is potential for further economic cooperation. Organised by the Vietnam Embassy in Cambodia, the conference gathered some 100 Vietnamese investors in the country, including the Vietnam Rubber Group and Met- fone -- an arm of the military-run telecommunication group Viettel. http://en.vietnamplus.vn/vietnam-among-top-five-foreign-investors-in-cambodia/ 109878.vnp

Vietnam ranked 10/APR/2017 INTELLASIA | VNEXPRESS among top 10 In developing markets like Vietnam, many women are engaged in entrepreneurship countries in women "either out of necessity or opportunity." business ownership - Nearly a third of business owners in Vietnam are women, placing the country seventh report worldwide and first in Southeast Asia in the Women Business Ownership ranking compiled by Mastercard. With 31.4 percent of entrepreneurs being women, Vietnam was ahead of high income economies like Spain and the US, while also faring better than its northern neighbour China. opportunity." Nearly a third of business owners in Vietnam are women, placing the country seventh worldwide and first in Southeast Asia in the Women Business Ownership ranking compiled by Mastercard. With 31.4 percent of entrepreneurs being women, Vietnam was ahead of high income economies like Spain and the US, while also faring better than its northern neighbour China. The credit card company found it "surprising" that Vietnam, a lower middle income economy, made it into the top 10 because another index, calculated using three different components, shows a different story. Mastercard Index of Women Entrepreneurs (MIWE), which surveyed 54 markets worldwide, actually ranked Vietnam 19th worldwide. The country scored 65 points overall, which is a combined score encompassing three components: Supporting En- trepreneurial Conditions, Knowledge Assets and Financial Access, and Women's Ad- vancement Outcomes. As the Mastercard index has ranked Vietnam much lower than the Women Business Ownership list, the report listed Vietnam among countries that are performing "better

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than expected". opportunity." Nearly a third of business owners in Vietnam are women, placing the country seventh worldwide and first in Southeast Asia in the Women Business Ownership ranking compiled by Mastercard. With 31.4 percent of entrepreneurs being women, Vietnam was ahead of high income economies like Spain and the US, while also faring better than its northern neighbour China. The credit card company found it "surprising" that Vietnam, a lower middle income economy, made it into the top 10 because another index, calculated using three different components, shows a different story. Mastercard Index of Women Entrepreneurs (MIWE), which surveyed 54 markets worldwide, actually ranked Vietnam 19th worldwide. The country scored 65 points overall, which is a combined score encompassing three components: Supporting En- trepreneurial Conditions, Knowledge Assets and Financial Access, and Women's Ad- FINANCE vancement Outcomes. As the Mastercard index has ranked Vietnam much lower than the Women Business Ownership list, the report listed Vietnam among countries that are performing "better than expected". "There are unique internal market dynamics within each economy that draw out ex- plicit entrepreneurial traits," the report explained. In developing markets like Vietnam, many women are engaged in entrepreneurship "either out of necessity or opportunity". They "tap on business segments that are usu- ally non-knowledge or innovation-oriented [...] which effectively allow them to avoid financial, regulatory or technical constraints." Indeed, Vietnam's low rank in Supporting Entrepreneurial Conditions, at 42nd place, indicates a relative lack of support mechanisms to enable women entrepreneurs to thrive. This component score is generally proportional to the economy's income as wealthier countries tend to have better infrastructure and institutional support in place. Meanwhile, Vietnam ranked fourth with a score of 86.6 in Knowledge Assets and Fi- nancial Access, only behind Singapore, New Zealand and South Africa. It shows that Vietnamese women entrepreneurs are relatively less marginalised commercially as financial customers and academically in terms of tertiary education. Vietnam's score, together with those of the Philippines (82.3) and Indonesia (82.0) were reported as "surprisingly but encouragingly high, driven mostly by a high tendency to borrow or save for business purposes, and high access to financial services/products," the report said. The country also made it into 8th place in Women's Advancement Outcomes, which measures women's progress and the degree of marginalisation they face economically and professionally as business leaders, professionals, entrepreneurs and workers. Also among the top scorers in this component were the Philippines and Thailand, in first and second place respectively. Mastercard's study also identified some of the constraints facing women business owners, such as alack of financial funding, regulatory restrictions and institutional in- efficiencies, lack of self-belief/entrepreneurial drive, fear of failure, socio-cultural restrictions and lack of training/education. http://e.vnexpress.net/infographics/data-speaks/vietnam-ranked-among-top-10- countries-in-women-business-ownership-report-3567471.html

HCM City Secretary 10/APR/2017 INTELLASIA | VNA promotes trade, Secretary of the Party Committee of HCM City Dinh La Thang is on a visit to Japan from investment in Japan April 6-15, aming to enhance trade and investment ties between the city and Japan. During the visit, Thang is scheduled to meet local authorities and businesses to seek cooperation in infrastructure development, transportation, tourism and high technology. The secretary will attend events promoting trade, investment and tourism in Osaka,

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Tokyo, Hyogo, Aichi and Nagano. Especially, conferences in Osaka and Hyogo are intended to call for investment in the city's key projects and introduce its potential for investment and tourism. He will tour several industrial parks and hi-tech agricultural and industrial projects in Japan. On April 6, Secretary Thang met with Vietnamese Ambassador to Japan Nguyen Quoc Cuong in Tokyo where he updated Cuong on socio-economic development in HCM City. The city reported economic growth of 7.46 percent in the first quarter of 2017, higher than the same period last year, while about 85 trillion VND in tax payment was collect- ed, Thang said. At the same time, it confronted several major challenges in terms of infrastructure, transportation, environment, food safety and security, he added. He expressed his hope that the Vietnamese Embassy will continue connecting HCM City and Japan so that more Japanese investment will enter the city. FINANCE Last year, Japan ranked sixth among countries and territories investing in HCM City. http://en.vietnamplus.vn/hcmc-secretary-promotes-trade-investment-in-japan/ 109870.vnp

Thai Binh attracts 10/APR/2017 INTELLASIA | VNA many investment The Red River delta province of Thai Binh is scheduled to present licences to 11 invest- projects in agriculture ment projects worth 2,016 billion VND (87.65 million USD) at a conference to promote investment in agriculture and rural areas on April 8. The information was revealed by Chief of the provincial People's Committee Office Lai Van Hoan at a press conference in the province on April 7. According to Hoan, the province will also give approval to investors to conduct research on 19 projects worth 20,925 billion VND (909.7 million USD) specialised in hi- tech agricultural products and aquaculture. On the occasion, three projects on the construction of roads in the build-transfer and build-operate-transfer model with combined registered capital of 2,717 billion VND (118.1 million USD) will also receive investment certificates. Notably among the agricultural projects is a 7.8 trillion VND (339.1 billion USD) scheme on agricultural industrialisation and a chain of manufacturing, harvesting, processing, transporting and distributing farm produce on a 2,000ha area in Quynh Phu district run by a joint venture between THACO Group and Loc Troi Group. The event will also witness the signing of agreements on the provision of credit and social welfare packages worth 59 billion VND (2.56 million USD). Pham Van Xuyen, vice Chair of the provincial People's Committee, emphasised that it will be the largest-ever agricultural investment promotion conference in Thai Binh, laying a foundation for the province to make five breakthroughs in agricultural development in the future. http://en.vietnamplus.vn/thai-binh-attracts-many-investment-projects-in-agriculture/ 109914.vnp

Savills: M&As to 10/APR/2017 INTELLASIA | VNECONOMIC TIMES continue in 2017 The competitiveness of Vietnam's real estate market is evidenced by increasing M&A activities and FDI, Savills' latest market review notes. The trend towards merger and acquisitions (M&A) in Vietnam's real estate market continues unabated, with the frequency seen in 2016 to be maintained this year, according to Savills' latest M&A review. The local real estate market has seen a host of strategic moves by investors in recent times, including M&As and development cooperation. Typical deals include Gaw Capital's acquisition of a series of high-value commercial properties from Indochina Land and Gamuda Land purchasing stakes held by local investors in the Celadon City project. At the same time, the market for M&A deals has been widespread in all segments, such

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as the joint venture between Chow Tai Fook and SunCity in the Hoiana resort and ca- sino project in central Quang Nam province, with total investment of $4 billion, and Lotte's acquisition of Diamond Plaza. Savills has successfully consulted two major deals in HCM City. Though domestic investors have not attracted much attention compared to foreign investors, they play an important role in merger deals and development cooperation when they contribute market knowledge and experience in product development. Van Thinh Phat, VinGroup, Novaland, Sun Group, and a number of developers are also revealing themselves as strategic investors with long-term vision, by acquiring projects or land sites with potential and releasing products to the market that compete with those of foreign investors. A series of moves have been made by foreign investors, especially those from Japan, Hong Kong, South Korea and Singapore. For example, an anonymous Japanese investor acquired 70 per cent of A&B Tower in HCM City's District 1 while the Creed Group, in association with two domestic investors, including Phat Dat and An Gia, has devel- FINANCE oped commercial housing projects. Singaporean investors are no less prominent in the market, with Keppel Land's participation in the Empire City project and CapitaLand increasing its ownership in The Vis- ta project, while the most recent prominent deal was Mapletree acquiring the entire Kumho Asiana Plaza complex, one of the most prestigious sites in HCM City. In general, the exciting M&A activities in Vietnam's real estate market from large to small scale are clear evidence of credibility in growth momentum and a newly-sustainable development cycle, Savills noted in its report. With a view of Vietnam possessing many opportunities and potential, M&As will continue to be a form that the vast majority of investors will use to enter the market and realise their goals. http://vneconomictimes.com/article/property/savills-m-as-to-continue-in-2017

M&A activities of 10/APR/2017 INTELLASIA| DTCK both domestic and Mergers and acquisitions (M&A) is a term that embraces a variety of different econom- foreign investors ic activities such as merging or consolidating; acquiring shares to take over control the exciting in Q1/2017 business; or acquiring assets. M&A activities are popular in almost every country in the world. In Vietnam, the value of M&A deals in the past three years has steadily increased, in which there were many large-scaled deals. Many experts forecasted that M&A in Vietnam will continue to boom in 2017. Consid- ering the group of listed companies alone, from the beginning of the year, information about the possibility of large M&A deals has continuously been announced. For example, in late February 2017, the information about the discussion of the Indian state-owned iron ore company (NMDC) with Vietnam-based Masan Resources (MSR) to acquire a large amount of shares in Nui Phao polymetallic mine has created waves for MSR trading. This move of NMDC in particular, and foreign investors in general is considered not surprising as it is estimated that Nui Phao is the world's largest tung- sten mine, with a potential ore reserve of about 66 million tonnes, accounting for nearly 30 percent of the global reserves. Masan Horizon is the current dominant shareholder of MSR with an ownership rate of 95.5 percent shares with voting rights, after the public offering took place in December 2016. The market predicted that the result of the acquisition of Nui Phao mine largely depends on the decision of Masan Horizon. Among the 10 big state-owned enterprises (SOEs) which the government asked the State Capital Investment Corporation (SCIC) to step up capital withdrawal under the prime minister's Official Letter 1787/TTg-DMDN, the Vietnam Dairy Joint Stock Com- pany (VNM) is a notable name which draws much attention of investors. SCIC is currently holding nearly 40 percent of VNM stake, equivalent to more than 80 trillion dong of market capitalisation and SCIC will continue to make divestments in 2017. In the first auction to sell 9 percent VNM shares owned by SCIC in late 2016, the F&N investors from Thailand purchased 5.4 percent, raising their ownership rate in VNM

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to 16.35 percent. After that, this group of investors continued to acquire more shares and raised their shareholding to 17.7 percent in early March 2017. As expected, F&N investor group will continue to be a familiar name in the following SCIC's auctions of VNM shares, with an aim to increase its ownership in Vietnam's dairy giant to a dominant level. Binh Minh Plastic Joint Stock Company (BMP) is also included in SCIC's list of 10 SOEs under divestment this year. SCIC is currently holding 29.5 percent of the firm, equivalent to more than three trillion dong of capitalisation value. The market is predicting that BMP is likely to maximise the room for foreign investors to 100 percent in the coming Annual general Meeting (AGM), to pave the way for SCIC's divestment. The biggest foreign shareholder of BMP is Nawaplastic Industries (Saraburi) Compa- ny Limited -- a Thai company specialising in PVC pipe production, owner of 20 percent BMP shares. This foreign investor is also holding 22.7 percent stake of Tien Phong Plastic Joint Stock Company (NTP) -- another plastic firm of which SCIC holds 37.1 percent stake, also being under the SCIC's priority list for conducting divestment. FINANCE Thus, the divestment of SCIC in BMP or NTP is considered attractive to foreign investors, especially Nawaplastic Industries because if being able to acquire the shares offered by SCIC, this investor can take control of the two leading plastic firms in Vietnam. There are many other forecasts about large M&A deals to be carried out in 2017 in which buyers are foreign investors, as numerous SOEs such as MobiFone Telecommu- nications Corporation (MobiFone), PetroVietnam Oil Corporation (PV Oil), Saigon Trading Group (Satra) and Investment and Industrial Development Corporation (Be- camex IDC) will conduct their Initial Public Offering (IPO). In addition, the State will accelerate divestment in large SOE such as Saigon Alcohol Beer and Beverages Corpo- ration (Sabeco), Hanoi Alcohol Beer and Beverages Corporation (Habeco), and Viet- nam Airlines Corporation (Vietnam Airlines). In fact, these firms are all receiving attention of foreign investors. Vietnam's removals of many market-entry barriers for foreign investors in numerous fields have enabled the M&A market in Vietnam to welcome investment waves from Thailand, Japan, South Korea, the Europe, and the US, etc. More and more foreign firms have chosen M&A as a form to enter the Vietnamese markets. The major M&A deals in recent time have shown that foreign firms often target leading companies in Vietnam, those have large brand value and market share or possess natural resource advantages. Foreign investors are willing to pay higher prices than market prices to acquire shares of these firms. The participation of foreign investors in buying shares is considered helping increase the efficiency of State's capital withdrawal. Enterprises after divestment will have new sources of capital, new governance capacity, and enhancement in competitiveness and transparency, etc. However, there are concerns that the rising ownership of foreign investors in the leading firms of Vietnam may cause some sectors to be dominated by foreigners. Some concerned that foreign investors carry out M&A for the purpose of acquiring rivals, or owning and exploiting resources to transfer abroad. Meanwhile, M&A activities of local investors are somewhat quieter. However, they have continuously been implemented and been included in the development plans of many firms, because M&A is considered having advantages in many ways. M&A can help firms improve financial situation; perfect value chain; expand market share; pen- etrate into new fields without taking time to do research; and take advantage of the strengths of the available system and personnel, thereby creating resonance value, etc. In the field of banking and finance, the State Bank of Vietnam (SBV) is finalising the Scheme to restructure the system of credit institutions (CIs) associated with bad debt settlement in the 2nd phase (2016-2020) and detailed information has not been fully disclosed. However, the M&A deals of banks such as Habubank -- SHB, PVcomBank -- WesternBank, MHB -- BIDV, and SouthernBank -- Sacombank showed the effec- tiveness in restructuring, raising charter capital, handling bad debts, and expanding networks, etc. Accordingly, the policy to restructure the CI system in the 2nd phase is

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said to continue using M&A tool. On the other hand, conducting M&A is considered a self-demand of many banks. The first banking M&A deal in 2017 is expected to be the merger of PGBank into Viet- inBank. This plan was mentioned by VietinBank's Chair Nguyen Van Thang at the conference summarising 2016 business operation and implementing 2017 business tasks held in early 2017. Previously, the Asian Development Bank (ADB) said that it aimed to acquire a weak bank of Vietnam in the form of M&A. Since there are currently many small banks with legal capital of three to four trillion dong, including some weak banks in the market, M&A activities in the banking sector are expected to continue in the near future, in order to form larger and stronger banks. Regarding real estate sector, from the beginning of the year until now, information about the transfer and acquisition of real estate projects has continuously been released, especially those with slow progress and the lack of efficiency. For example, Van Phat Hung Corporation (VPH) has sold seven blocks of Lacasa Residential Complex FINANCE (district 7, Hochiminh city) to An Gia Investment and the Creed Group investment fund in early March; and No Va Land Investment Group Corporation (Novaland) has been implementing M&A deals for suspended projects such as Icon56, Galaxy 9, The Tresor, Lexington, and RiverGate Residence, etc. In the consumption and retail sector, M&A activities are expected to continue being busy with the attractiveness of a 93 million-people consumption market. At the AGM on March 31st 2017, Nguyen Duc Tai, Chair of Mobile World Group (MWG) said that the group may conduct M&A with other retailers in 2017 via share acquisition or 100 percent buy-out. In the field of pharmaceutical and healthcare, many companies such as Imexpharm Pharmaceutical Joint Stock Company (IMP), DHG Pharmaceutical Joint Stock Compa- ny (DHG), and Cuu Long Pharmaceutical Joint Stock Company (DCL) are attractive to both domestic and foreign investors. On February 25th 2017, the Shareholders Com- mittee of DCL approved the ownership rate increase of F.I.T Investment Joint Stock Company (FIT) to the maximum level of 80 percent via the sale of shares to existing shareholders. From February 27th to March 10th, FIT acquired three million shares of DCL, raising its shareholding to 69.95 percent and registered to purchase an addition of one million shares. Thus, in the last two years, from holding no shares of DCL, FIT has become a dominant shareholder of this firm. For listed companies, M&A can create waves of stock price increases which will benefit shareholders, such as the cases of VPH or DCL. Nevertheless, small shareholders may be disadvantaged and fall into the spin of the takeover and anti-takeover battles between giants. The typical examples are the conflicts of major shareholders in Education Financial Investment Joint Stock Company (EFI) in the recent time, or the failure to reach a consensus between the two major shareholder groups in Bibica Joint Stock Company (BBC). Regarding the M&A trend in 2017, many reports and analysts said that M&A activities will continue to be vibrant in 2017 and attract both domestic and foreign investors. In particular, there will be many deals carried out in industrial field, consumer goods, banking and financial services because there are numerous firms own valuable assets and are the suitable targets for other companies in the same sector to acquire or partner with, in order to increase the resonance value. Meanwhile, the pharmaceutical and healthcare sector, with leading firms under the State' divestment plan, is predicted to attract attention of foreign investors; and the transfer of real estate projects will continue to be exciting.

Vietnamese workers 10/APR/2017 INTELLASIA | VN BUSINESS warned of 'robot Robots are already being used at the 20-hectare Vinamilk actory in Binh Duong prov- threat' ince. There are 19 robots and several workers. Everything runs on an automation process. Some robots carry packs to the filling room, while others take finished products to the storehouse. When robots begin to lose power, they automatically go to the battery

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charging area, where they install full batteries without the assistance of workers. Nguyen Chien Thang, director of Scan Pacific, an interior product manufacturer, who has received more orders from foreign partners in recent years, has decided to equip his newly built factory with an automated production line, which would help increase productivity by 4-5 times. Other large furniture companies in Binh Duong have also spent money on automation technology. A representative of Vi Dai, a supplier of machines and equipment, said the company's sales increased by 50 percent in 2016 because more wooden furniture manufacturers bought modern equipment to increase productivity and lower costs. Thanks to the automation production line, which has been running in the last 10 years, Minh Long 1 Porcelain Company has cut the number of workers from 400 to 20. To date, it has imported seven robots with the value of no less than 40,000 euros. Analysts commented that though it is costly to replace workers with intelligent robots, using robots in production lines is a growing tendency worldwide, including in developing countries like Vietnam. The World Economic Forum predicted 5 million jobs would be lost by 2020 because of artificial intelligence. The lat- FINANCE est report from ILO shows that two-third of 9.2 million workers in the textile & garment and footwear industries in South East Asia are being threatened by robots. In Vietnam, ILO said 86 percent of textile & garment workers may lose jobs in the automation process, while three-fourth of workers in the electronics sector will be replaced with robots. Pham Thi My Le, president of Le & Associates, predicted that 80 percent of works would be undertaken by robots by 2020. The popularity of robots would prompt multi-national conglomerates to stop outsourcing to Asian countries and to make products in their home countries with automated production lines. If so, Asian countries, which now rely on doing the outsourcing for foreign companies, would suffer. Vietnam can attract foreign investments thanks to cheap labour. However, once robots replace large numbers of workers, that advantage will diminish. http://vnbusiness.com.vn/economy/8277-vietnamese-workers-warned-of-robot- threat.html

Vietnamese bakery, 10/APR/2017 INTELLASIA | VNS confectionery sector The Vietnamese market is witnessing an increasing number of large bakery and con- attracted to foreign fectionery companies, highlighting the sector's potential for foreign investors, Dieter partners Dohr, general director-cum-chair of GHM Company, said. The announcement was made at a conference held in Hanoi on Tuesday introducing Iba 2018, an international trade fair on the bakery sector. "Vietnam has many delicious and high-quality foods such as breads, coffee and tea. The event will help Vietnamese firms showcase their potential in the bakery and confectionery sector and also gain learning experience from foreign partners," Dohr said. He added that the fair is for large, small and-medium-sized enterprises. Iba 2018 will take place in Munich, Germany, between September 15 and 20 next year. The event hopes to attract companies from 165 countries. It will introduce machinery, equipment, state-of-the-art technology and material for the baking industry. Bakery and confectionery production lines will also be on display at the event. "In particular, the exhibition will focus on food safety and hygiene of the sector," he said. The organiser said technologies for bakery and confectionery production have been diversified. Producers, therefore, should regularly keep abreast of modern technologies and global consumption trend to improve their competitiveness and attract customers. Notably, many Vietnamese have been undergoing training on bakery and confectionery production in Germany, which will serve as an advantage for the country to expand business with foreign partners. "Local firms should be confident about bringing their products to international trade fairs," he noted. According to Business Monitor International, the nation's confectionery sector has experienced relatively high and stable growth rate and is forecast to earn revenue of VND40 trillion (US$1.8 billion) in 2018.

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China, the US and Cambodia were the top three importers of Vietnamese confectionery last year, followed by Japan and South Korea. China is set to maintain its leading position this year, with import growth estimated at over 40 per cent. Confectionery exports went up 15 per cent year-on-year in 2016 with export value of $532 million, the Ministry of Industry and Trade reported. Export value in 2015 was $463 million. The trade fair is organised by the German Baker's Association and GHM Company once every three years. In 2015, the exhibition attracted the participation of over 1,300 exhibitors and nearly 78,000 visitors, of which visitors from Germany accounted for 36 per cent while the remaining came from foreign countries. http://english.vietnamnet.vn/fms/business/176089/vietnamese-bakery--confectionery- sector-attracted-to-foreign-partners.html

10/APR/2017 INTELLASIA | TUOITRE NEWS

FINANCE Vietnam determined to lower prices on Over half of brand name drugs in Vietnam with expired intellectual property rights brand name drugs are still being sold at exorbitant prices while authorities fail to update their patent status and allow the production of cheaper generic versions of the drug. Deputy prime minister Vu Duc Dam has called for joint efforts from the Ministry of Health and Vietnam Social Insurance (VSI) to tackle the issue and lower drug prices, a move which would benefit both medical patients and the state welfare programme. Brand-name "privilege" Brand-name drugs are medicines that have been patented by pharmaceutical companies, providing them with protection from copycats. According to international conventions honored by Vietnam, patents for brand-name drugs are valid for 20 years, after which generic versions, equivalent to a brand-name product in dosage, strength, route of administration, quality, performance, and intended use, are allowed to be produced by other pharmaceutical companies. According to Nguyen Ta Tinh, head of the pharmacy and medical supplies division at VSI, brand name drugs are currently priced too highly in Vietnam compared to generic, category-one drugs -- good quality drugs produced in close observation of Euro- pean Good Pharmacy Practice (GPP) standards. "For similar cancer-treating drugs using paclitaxel as the active ingredient, for example, a brand name drug costs VND5 million [US$223] per vial, while a generic category-one drug only costs VND1-3 million [$45-135] per vial," Tinh said. VSI vice president Pham Luong Son estimates that a brand name drug can cost between five and seven times higher than its high-quality generic versions, even after its patents have expired. Despite the patents for over 400 out of 700 brand-name drugs having expired, relevant authorities have been slow to re-categorise them into category-one drugs, a move that has cost patients and the state insurance budget billions of dong. "It's not difficult to check the patent status of a brand name drug," a health expert who asked not to be named told Tuoi Tre (Youth) newspaper. "All it takes is checking if generic versions of the drug are available in Europe, where intellectual property rights are strictly regulated." For the past four years, there have only been additions to the list of brand name drugs allowed in Vietnam. Meanwhile, no drugs have been removed from the list, regardless of their patent status, the expert explained. Brand name drugs enjoy a range of privileges, he explained, including almost guaranteed wins during pharmaceutical procurements, since the owner of the brand is the only one allowed to produce the patented active ingredient. This practice has been criticised as one of the reasons for rising medical costs in Viet- nam. "Prior to 2012 when the old regulation on pharmaceutical procurement was still in place, drug related costs covered by medical insurance were at VND10 trillion [$446.43

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million] per year," the expert said. "This number has tripled in recent years though the amount of people covered by medical insurance couldn't have tripled in such a short time." The best of both worlds Deputy PM Vu Duc Dam has demanded that a fixed ratio for brand name and generic drugs to be covered by state-run insurance programmes be introduced by the Ministry of Health and VSI, with the latter suggesting that the ratio be 7:3 for generic and brand name drugs respectively. However, the suggestion was met with concerns from practicing doctors, who said the decision on which drugs to be used for specific conditions should rest on the head of the medical institute or those immediately responsible for the patient's care, rather than being governed by a fixed ratio. "We are treating a patient with a fungal infection in their lungs, and brand name drugs were safer for use on this particular patient who happens to also have kidney failure," said a doctor from Bach Mai Hospital in Hanoi. FINANCE "Generic drugs would have posed health risks for the patient." "If the state insurance budget can't cover 100 percent of the costs for brand name drugs, it should at least pay the price as if a generic drug has been used instead," said Hoang Xuan Thanh, a physician at the intensive care unit of a hospital. "The patient who opts for brand name drugs can cover the rest." http://tuoitrenews.vn/business/40422/vietnam-determined-to-lower-prices-on-brand- name-drugs

Indonesia turns it 10/APR/2017 INTELLASIA | VNEXPRESS back on Vietnamese Indonesia's rice imports from all destinations in 2017 are forecast to halve to 500,000 rice as crops at home tonnes, based on USDA reports. flourish Indonesia, the world's fourth most populous country and a major buyer of Vietnamese rice, has not returned to Vietnam for new purchases this year, while its overall 2017 rice imports are forecast to halve to around 500,000 tonnes thanks to better domestic production, according to industry reports. Indonesia was among Vietnam's 10 biggest rice buyers in the 2010-2016 period, with imports peaking at nearly 1.9 million tonnes in 2011, based on data from Vietnam's agriculture ministry. But its purchases have been falling and Vietnam received no orders during the first two months of 2017, ministry data shows. Vietnam is the world's third-biggest rice exporter after India and Thailand. Indonesia is forecast to import 500,000 tonnes of rice this year, down 50 percent from 2016, as domestic milled rice output edges up 2.6 percent to 37.15 million tonnes "due to increased area harvested", a US Department of Agriculture attache said in a March 30 report. The report said increased cropping intensity and new land will help expand the harvested area this year to 12.24 million hectares (30.25 million acres), 1.2 percent above 2016 when Indonesia experienced a weak to moderate La Nina weather phenomenon. Given more use of high-yielding varieties, the report forecasts Indonesia's output next year will rise further to 37.4 million tonnes, leaving the country's rice imports unchanged. The forecasts pose a challenge to Vietnam's rice exports in 2017, with shipments in the first quarter already dropping 24 percent from a year ago to 1.2 million tonnes, a twoyear low, the government has said. Hanoi maintains forecasts of a modest rice export volume for 2017, anticipating 5 million tonnes to be shipped, due in part to expected higher demand from top buyer Chi- na. Last year, Vietnam's rice exports fell to 4.8 million tonnes, the lowest since 2008. Malaysia, another key buyer of Vietnamese rice, is forecast to import 950,000 tonnes of the grain this year, unchanged from 2016, said a USDA report dated March 27. Last year, the country was Vietnam's 5th biggest rice buyer, after China, Ghana, the Philip- pines and Indonesia.

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The average export price of Vietnam's 5-percent broken rice eased 2 percent in the first quarter ending March from a year ago to $344 a tonne, free-on-board basis, and that on Thailand's 5-percent broken rice also eased the same pace in the same period to $372 a tonne, the UN Food and Agriculture Organisation said. Unseasonal rain in the past week has disrupted the harvest of the Mekong Delta's win- ter-spring crop, and quotations edged up slightly even though buying demand remains thin, traders said. The 5 percent broken rice advanced to $355 a tonne this week from $347-$350 last Thursday. Output of the crop, the biggest among the Delta's three crops grown a year, is projected to drop 1.3 percent from last year to around 10 million tonnes of paddy, the agriculture ministry has said. http://e.vnexpress.net/news/business/indonesia-turns-it-back-on-vietnamese-rice-as- crops-at-home-flourish-3566986.html

10/APR/2017 INTELLASIA | DW.COM

FINANCE Tech startups are finding fertile ground Youth, innovation and investment are coming together in HCM City to foster a vibrant in Vietnam's 'Silicon startup scene that the government hopes will help modernise Vietnam's fast-growing Valley' economy. Ate Hoekstra reports. On a Friday afternoon, the Information Technology Park on the outskirts of HCM City appears to be abandoned. But in one of the offices at the site, tech developers at the startup Mimosatek are working hard on technology that will help farmers with water- ing their crops. "With millions of farmers, agriculture is still one of Vietnam's most important sectors," Lan Anh Le, chief operating officer at Mimosatek, told DW. "The question is always how to know how much water is needed for the plants, so we designed a tool that makes irrigation automatic and measurable." Mimosatek is only one of many tech startups in HCM City, the economic centre of Vi- etnam. Over the past few years, thousands of young Vietnamese entrepreneurs have come to the city to start their own company - whether it is developing innovative apps, mobile games, e-commerce or other tech solutions. This emergence was quickly recognised by Vietnam's communist-led government. With an initiative titled 'Vietnam Silicon Valley,' it is allocating resources to create an environment in which startups can grow easily. Last year, the government said it would offer legal and financial support to 2,600 startups over the next 10 years. Combining youth, resources and innovation Bobby Liu of the Topica Founder Institute, a startup accelerator programme, said that Vietnamese are good entrepreneurs, but that's not the only reason why HCM City is on the rise as a startup hub. "Fifty percent of the population is below 35 years old and many of them have studied abroad," Liu told DW, adding that Vietnam was also a base for computer technology outsourced by international companies. "Combine that with a forward-thinking mind- set along with low expenses for living," he said. And the Vietnamese government is hoping that more people will start their own company. deputy prime minister Vuong Dinh Hue announced last year that Vietnam should have 1 million businesses by 2020, up from the current 500,000. But becoming successful isn't easy. An estimated 90 percent of startups fail, often due to a lack of funding. Mimosatek tested a pilot in June 2015. The company is now looking at the success of its tool, which farmers can control with a smartphone. "At an organic farm we recently compared the results with the past," said Le. "Now that this farmer is using our product, he uses 30 percent less water, 30 percent less electricity and he has 25 percent more crops." Experts say that Vietnam is full of opportunities for entrepreneurs. Like many economies in Southeast Asia, Vietnam is experiencing very positive growth and the World Bank estimates that GDP will grow 6.5 percent in 2017. The country has a domestic market of over 95 million people with average wealth growing in recent years. The ed-

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ucation level is also improving. Growing potential for success One of the country's success stories is Ticketbox, developed by 33-year old Tuan Anh Tran. In 2013, he started the online platform with which people can easily buy tickets for concerts and other events. According to Tran, in the first nine months, Ticketbox grew 24 times its original size. The company recently expanded to Singapore and Thai- land. "I never expected to be the owner of a company that is active in three different countries," Tran told DW. "All I wanted is to build something that would help Vietnam." The Ticketbox CEO believes his country will continue to offer opportunities to startups for the next three to five years. "There is a lot of potential here, and there are so many things you can do," he said. "If someone would offer me a good price for my company, I would probably make a deal and start something new." Tran expects his company will continue to grow. "We are now looking at other countries," he said. " Malaysia, Indonesia and even Myanmar all offer good possibilities." FINANCE Ticketbox isn't the only company that has become a hit. Big Cat Entertainment, which produces online videos, was recently acquired by Asia Innovations Group. Thuy Truong sold her social app, Tappy, to Silicon Valley-based Weeby.co. And developer Dong Nguyen earned $50,000 (47,000 euros) per day with his mobile game Flappy Bird. Mimosatek hopes that by the end of the year 200 farmers will use its product. The company currently has 35 clients. "What we are doing is difficult," Lan Anh Le said. "For startups, there's always a high risk of failure. But as long as we have a group of committed, passionate and competent people, we can always start fresh." http://www.dw.com/en/tech-startups-are-finding-fertile-ground-in-vietnams-silicon- valley/a-38341348

Govt guidelines for 10/APR/2017 INTELLASIA | VNS Russia-Vietnam auto Vietnamese businesses will have to put in at least 50 per cent of the charter capital if joint ventures they are entering into automobile joint ventures with partners from Russia and Bela- rus. As per government Decision 08/2017/QD-TTg, a guideline for businesses on implementing the protocol signed between Vietnam and Russia on supporting automobile production in Vietnam, every authorised Russian business is allowed to be part of one joint venture, which will undertake operations for a minimum period of 10 years and a maximum period of 30 years. Russian businesses are not allowed to transfer their capital in the joint venture to a third party from a third country. The protocol was negotiated and signed based on the priority clauses for investment projects under the free trade agreements between Vietnam and the Eurasian Economic Union (EAEU). Under the agreement, Russian vehicle manufacturers such as KAMAZ, GAZ and UAZ can tie up with Vietnamese partners and set up joint ventures to man- ufacture and assemble trucks, cars with 10 seats and above, crossover utility vehicles (CUV) and a number of special-use vehicles. The joint venture enterprises will have to assemble cars in compliance with Vietnam's automobile industry development plan till 2020, with a vision towards 2030. The local supply rate will be 25 per cent for special-use vehicles, 30 per cent for trucks and CUVs, and 35 per cent for cars with 10 seats and above by 2020. The rate will be increased to 40 per cent, 45 per cent and 50 per cent by 2025, respectively. If the joint venture fails to meet the fixed local supply rate after 10 years of operations in Vietnam, its licence will be revoked. The joint ventures will also export to other countries, especially the Southeast Asian bloc, where there will be no import tax on automobiles, under the condition of 40 per cent localisation rate among members from 2018. http://bizhub.vn/news/govt-guidelines-for-russia-viet-nam-auto-joint- ventures_285362.html

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Vietnam applies SRP 10/APR/2017 INTELLASIA | VOV5 rice production Farmers in the Mekong Delta Region are welcoming the news that the rice production standards to increase model pursuant to the Sustainable Rice Platform (SRP) standards will be continued. competitiveness The model was initiated by the Loc Troi Group, a leading provider of agricultural services and products in Vietnam, the World Bank's IFC, the International Rice Research Institute (IRRI), and the International Sustainable Rice Forum. The programme has been piloted for two crops, and has boosted local farmers' incomes. Le Ngoc Linh of Tan An hamlet in Kien Giang province is one of the households pilot- ing the SRP model. He said he has higher returns from the family's 4.5 hectares, about $260 per hectare, thanks to strictly conforming to advanced production rules, using minimal pesticide, and reducing costs. "All the criteria are tough but beneficial to farmers. The application has created many

FINANCE differences. The new model provides offers an international standard of 46 criteria to replace our old ways of farming. The use of pesticides is one example. The SRP standards say pesticides must not leave a residue on the final product. Farmers must be aware of the issue and gradually change their old farming practices if they want a sustainable production," Linh said. Participants in the pilot programme said the 46 requirements seemed hard to follow at first but during the pilot process, the Loc Troi Group's agriculturists have worked side by side with farmers teaching them new farming techniques and practices. Duong Van Chin, President of the Dinh Thanh Agriculture Research centre of the Loc Troi Group, said "After training, the farmers see the programme's benefits. Plant protection waste is not seen in the fields anymore because now they understand that proper waste collection is good for the environment, productivity, and their own health. I believe the model will soon spread to other localities and made Vietnam's rice production more sustainable and efficient." The pilot programme shows that applying SRP standards can boost farmers' incomes, benefit the community, and protect the environment. Huynh The Nang, President of the Vietnam Food Association, underlined the involve- ment of businesses, especially following the success of the Loc Troi Group's pilot model. "I hope members of the Vietnam Food Association will study the SRP standards and work with the Loc Troi Group to scale up application of the criteria towards building a Vietnamese rice brand of high quality and competitiveness in international markets," Nang said. In the next two years, the programme will train 4,000 farmers in the Mekong Delta in new farming practices that improve rice quality, boost productivity, and protect the environment. http://english.vov.vn/economy/vietnam-applies-srp-rice-production-standards-to-increase-competitiveness-346977.vov

HCM City metro 10/APR/2017 INTELLASIA | VIR projects short on The two urban railway projects Ben Thanh-Suoi Tien and Ben Thanh-Tham Luong, capital which were in the portfolio of important projects receiving national budget funding of at least VND10 trillion ($438 million) each, are confronted with a shortage of capital. Metro line 1 in trouble A shortage of capital is the key problem of both Line 1 (Ben Thanh -- Suoi Tien) and Line 2 (Ben Thanh -- Tham Luong) urban railway projects. The HCM City People's Committee is the developer responsible for the two projects. At the Metro Ben Thanh-Suoi Tien project, the developer has been slow to pay contractors and may have to pay interest on late payment. According to a report submitted to the Ministry of Transport at the beginning of March 2017 by Le Van Khoa, deputy chair of the HCM City People's Committee, the pay- ments for four construction packages have been delayed since September 2016. The

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reason is that the ODA capital provided for HCM City was only VND592.693 trillion ($26 million), a much lower amount compared to the VND1.95 trillion ($85.17 million) payable for the contractors. To deal with the current shortage, HCM City had to withdraw VND600 billion ($26.3 million) from the city budget to pay in advance for the consulting companies and contractors. With the current progress, although package No. 1a was started in November 17, 2016, the authority cannot pay the contractors as promised. Accordingly, by February 15, 2017, HCM City's Urban Railway Management Boardwould have to pay in advance the amount of VND571 billion ($25 million). In case the developer fails to pay, the con- tract will be extended, which will result in numerous incurred additional expenses. Khoa said that the estimated ODA capital for Metro Line 1 is VND2.119 trillion ($93 million) in 2017. However, the project's capital has not been added to the country's plan on using ODA, which significantly affected the construction progress. By the end of February 2017, package No. 1b, used for the constructions of the stations between Saigon Opera House and Ben Thanh, was 41 per cent completed, while pack- FINANCE age No. 2 toconstruct the 17.1-kilometre stretch plus depots between Ba Son and Binh Duong was 65 per cent completed. Package No. 3 for the purchase of electromechani- cal equipment, locomotives, carriages, and railway tracks was 12 per cent completed. In general, the total disbursement of the project is VND10.9 trillion ($477 million), of which VND9.712 trillion ($425 million) is sourced from ODA. If the Japanese and Vietnamese contractors progress as scheduled, the total value of the completed parts in 2017 may reach VND5.320 trillion ($233 million). "The project should receive more ODA. It is essential to ensure the project's progress as committed, as well as to avoid other incurred expenses, late payment penalties, and lawsuits from foreign contractors," said the report. The 19.7-kilometre Ben Thanh-Suoi Tien Line goes through District 1 (Binh Thanh), District 2 (Thu Duc), District 9, and ends in Binh Duong Province (Di An District). Of the total, the underground parts are 2.6 kilometres, and the overhead parts are 17.1 kilometres long. The total investment after three adjustments has increased from VND14.415 trillion ($631 million) to VND47.325 trillion ($2.07 billion). The construction of the overhead part has been on-going since August 2012. The maximum speed along the line will be 80 kilometres per hour on the underground sections and 110 kilometres per hour on the bridge. It is forecasted to begin test runs in 2019 and be officially put into operation in 2020. Metro Line 2 in a worse spot Although Metro Line 1 is in slow progress, at least it has a forecasted launching period, while Line 2, which is also managed by HCM City's Urban Railway Management Board, is struggling with investment adjustments and updating bid documents. Accordingly, the total investment of Metro Ben Thanh-Tham Luong is proposed to be VND47.605 trillion ($2.152,36 million), an increase of 56.6 per cent compared to the initial planned investment in 2010. The three biggest increases derive from land clearance, which rose from $119.38 million to $197.88 million; installation and purchase, which went from VND748.11 billion ($33 million) to VND1.198 trillion ($52 million); and reserves, which increased from $263 million to $368 million. By the end of February 2017, after six years of construction works, the disbursement was only VND700 billion ($31 million), including VND572 billion ($25 million) of ODA capital, which is equivalent to three per cent of the expected sum total. A representative of the HCM City Urban Railway Management Board admitted that implementation was slow compared to the promised schedule because the design has been adjusted. Additionally, the different instructions issued by the sponsors and the Vietnamese government on picking contractors and the elongated time for collecting feedback from sponsors also contributed to the slow going. As the most important Metro line in HCM City, the Ben Thanh-Tham Luong line will go from the new urban area Thu Thiem (District 2) and end in An Suong (District 12). It is forecasted that by 2025, it will handle 481,700 passengers a day. Besides the sharp increase in capitalisation, the launch will be delayed to 2024, despite

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initial promises to complete works by the end of 2016, as specified in Decision No 4474/ QD -- UBND approved by the HCM City People's Committee. "The HCM City People's Committee should review the implementation progress of each package used in these projects and have appropriate solutions to avoid the exten- sion of process, which may lead to an increase in total investment, administration, and interest expenses, exchange rate risks, and fluctuations in construction material prices," an expert said. http://www.vir.com.vn/ho-chi-minh-city-metro-projects-short-on-capital.html

Soaring tra fish prices 10/APR/2017 INTELLASIA | VNS entice Mekong With prices of tra skyrocketing, farmers in the Cuu Long (Mekong) Delta are scram- farmers bling to breed the fish, paying little heed to warnings from experts. The price of the fish has been rising since before Tet (Lunar New Year) at the end of January and now stands at VND27,000 (US$1.2) per kilogramme, thought to be the

FINANCE highest level in the last few years. Tuoi Tre (Youth) newspaper quoted P., tra breeder in Soc Trang Province's Ke Sach District who farms them in three ponds, said he and his friends are looking for more ponds to breed more fish. "One of my friends in HCM City, who has no experience in tra farming, wants to lease seven or eight ponds to breed the fish." According to Phm Thanh Nhi, head of the Hong Ngu District Agriculture and Rural Development Bureau in Dong Thap Province, because the prices of snakehead fish are falling, many local farmers have switched from it to tra. With so many farmers switching to tra, not surprisingly there is a shortage of juveniles for breeding. Their price has risen by VND20,000 per kilogramme from a year ago to VND40,000- 50,000. Another cause for the short supply is that several breeders of tra juveniles switched to other fishes after suffering losses a couple of years ago, Vo Hung Dung, vice president of the Vietnam Association of Seafood Producers and Exporters (VASEP), told the media at a seminar on Vietnamese seafood in Can Tho city last month. The prices of adult tra are also rising because of the increasing purchase by China, he said. China accounted for 18 per cent of Vietnam's tra exports last year, 15 per cent higher than five years earlier. Nguyen Minh Nh, a former chair of the An Giang Province People's Committee, said the volatility in tra fish prices is nothing new to fish farmers, but told them to be cautious since no one can be sure where the prices are heading. Some analysts said though increasing imports by China are driving prices up, there is no guarantee this trend would continue, and farmers could suffer big losses if the imports stop. The An Giang Department of Agriculture and Development has encouraged farmers to team up with processing companies to ensure their fish is sold. According to VASEP, in the first quarter of this year farmers in the delta bred 739ha of tra and harvested 672ha, which yielded 210,000 tonnes. They have been making handsome profits thanks to the high prices. But authorities have been warning farmers against uncontrolled expansion because historically tra fish prices have been volatile. http://vietnamnews.vn/economy/374266/soaring-tra-fish-prices-entice-mekong-farmers.html#PJijSKqsXjTpslqT.97

Industrial salt import 10/APR/2017 INTELLASIA | VNS limited to 102,000 The Ministry of Industry and Trade (MoIT) has limited import quota for industrial salt tonnes to only 102,000 tonnes in a bid to support domestic salt production, the ministry's chemical department said. The decision will take effect from July 1 and last until December 31, according to the

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Cong Thuong (Industry & Trade) newspaper. Although the demand for industrial salt import is very high, MoIT still has to tighten import quota for salt so as not to affect the domestic salt industry, Nguyen Van Thanh, head of the chemical department, said. The salt import quota has been limited to 102,000 tonnes, but in practice, the actual quantity of salt allowed to be imported may be much lower than the quota, estimated to be just some 40,000 tonnes, Thanh said. According to the Agro-Forestry Processing and Salt Industry Department under the Ministry of Agriculture and Rural Development, in the first two months of 2017, the quantity of handmade salt reached nearly 2,600 tonnes while industrial salt touched over 11,100 tonnes. By the end of February 2017, the total quantity of stockpiled salt was estimated at some 400,000 tonnes. However, many enterprises producing chemicals and medicines continue to face a shortage of industrial salt. Salt produced in the country is mostly handmade and used for cooking and food FINANCE processing, while enterprises need industrial salt refined from crude salt to use as the main raw material in medical products and chemical production. Therefore, enterprises are greatly in need of industrial salt, which has low domestic production due to a low-tech salt refining facilities, a chemical manufacturing company based in HCM City told Cong Thuong newspaper. http://bizhub.vn/news/industrial-salt-import-limited-to-102000-tonnes_285361.html

Is this a good time to 10/APR/2017 INTELLASIA | DAILY TIMES enter Vietnam's The weekend of April 1 and 2 marked 2017's first new residential project launch from booming market? Vietnam -- RichLane Residences, Mapletree Investments' maiden condominium project in HCM City. For the largely Singaporean audience, the most riveting fact during the 25-minute presentation by Marc Townsend, managing director of CBRE Viet- nam, was that the starting price of $95,000 ($132,825) for a studio in the highend condo is equivalent to the price of a new Honda Civic in Singapore. The 243-unit RichLane Residences is a 29-storey condo tower that is slated for comple- tion in 1Q2018. The architect and interior designer are Singapore-based CPG Consult- ants and Ong&Ong, respectively. Adjacent to RichLane Residences is an Oakwood- branded serviced apartment block. Incidentally, Mapletree purchased a 100 percent interest in Oakwood, a US-based serviced residences and corporate apartments provider in February this year. Both the RichLane Residences condominum and Oakwood serviced apartment blocks are part of Mapletree's Saigon South Place Complex, an integrated development on a 4.4ha site in HCM City's District 7 that is modelled after Mapletree's HarbourFront precinct in Singapore, which features office towers and one of the city state's biggest shopping malls, VivoCity. The first phase of Saigon South Place Complex is SC VivoCity, a five-storey shopping mall with close to 692,000 sq ft of gross floor area (GFA). The mall opened in April 2015 and is 94 percent leased currently, with many of the tenants being international brands. The development is a joint venture with Saigon Co.op. Within the second phase of Saigon South Place Complex is Mapletree's first office development in Viet- nam, Mapletree Business Centre. Tenants in the 17-storey Grade-A office tower include Standard Chartered Bank, Vietnamese food manufacturer Uniben, textile company Far Eastern Polytex and IT services company SCC UK. There are plans for two more office towers at Saigon South Place Complex. The launch of RichLane Residences comes on the back of Mapletree Business Centre's official opening on March 22. Singapore's prime minister Lee Hsien Loong and Viet- nam's deputy prime minister Trinh Dinh Dung were guests of honour. Prime minister Lee was in Vietnam on a fourday official visit from March 20. "Singa- pore is Vietnam's top foreign investor so far this year, and we hope to have more investment projects in Vietnam," he said. On March 23, six agreements were inked to expand cooperation between the two countries.

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The CBRE Asia Pacific Investor Intentions Survey 2017 found that Vietnam is considered the most attractive market in the Asean region. Of those interested in investing in Vietnam, 33 percent were attracted to the strong economic fundamentals that drive rental value growth. In 2016, Vietnam registered its highest foreign direct investment inflow of $15.18 billion, which spurred GDP growth of 6.2 percent y-o-y. This strong foreign investment into Vietnam is expected to continue in 2017, says CBRE, and is largely attributed to several factors. A key factor is the liberalisation of foreign investment policies in 2015, such as the implementation of Decree 60, which removed the cap on foreign ownership in public companies. The lifting of the 49 percent foreign ownership limit in public companies boosted foreign sentiment and capital inflow into Vietnam. dailytimes.com.pk/business/09-Apr-17/is-this-a-good-time-to-enter-vietnams-booming-market FINANCE Thai firms gather 10/APR/2017 INTELLASIA| TRI THUC TRE power on Vietnamese After conducting acquisitions of firms in plastic sector, the Siam Cement Public Com- real estate market pany Limited (SCG) from Thailand has announced to acquire Vietnam Construction Materials Joint Stock Company (VCM) for $156 million. This is not the first deal of SCG in construction material sector. In 2013, SCG spent more than five trillion dong to buy the prime Group - which used to own large market share in the field of construction bricks and tiles. Not only SCG, in the previous time, the second largest cement brand in Thailand -- Siam City Cement Public Company Limited (SCCC) used nearly $580 million to buy 65 percent stake of LafargeHolcim Vietnam. SCCC is a multi-disciplinary group of Thailand, focusing on three core areas including cement -- building materials, petro- chemicals, and packaging. Most recently, the Amata Group from Thailand invested more than $600 million in industrial real estate sector in Dong Nai. It can be seen that Thai investors have used mergers and acquisitions (M&A) form to quickly acquire the market of Vietnam. After retail sector, Thai investors have increas- ingly shown ambitions in real estate sector. Penetrating the building material market -- the main source of raw materials of real estate industry -- SCG aimed to dominate the real estate market in the near future. According to statistics of the Foreign Investment Agency (Ministry of Planning and In- vestment), Thai investors so far have made investment in 440 projects in Vietnam with total registered capital of about $7.7 billion, ranking the 10th out of 112 countries and territories having investments in Vietnam. Although the field of real estate construction has not been much mentioned in the investments of Thai giants in Vietnam, Thai investors have begun to present through various large M&A deals. Even the Charoen Pokphand Group (CP Group), which has a large influence in agricultural sector, has also invested in Vietnamese real estate sector. Earlier last year, CP Group announced to pour $3.6 billion in Vietnam in the next five years, half of which will be invested in real estate and a retail chain. When setting foot in Vietnam's market 15 years ago, CPGroup invested about $350 million in agricultural and industrial sectors. The group is currently investing in retail, animal feed, and seafood processing and preparing to invest in real estate. Another example, which shows that Thai investors are eyeing real estate sector of Vietnam, is the meeting between Probus Opportunities Mekong Fund (headquartered in Thailand) and Hoang Quan Consulting Trading Service Real Estate Corporation (HQC). This is a step for the Thai firm to find out about the scale, investment activities, real estate business as well as the financial situation of HQC. In early 2016, KT ZMICO securities company of Thailand also corporated with HQC in social housing projects as well as other business activities. Headquartered in Bang- kok, Thailand, KT ZMICO is a member of Krung Thai Bank (KTB), the largest bank in Thailand with total value of $4 billion. According to CBRE Vietnam, the residential and commercial real estate market of Vi-

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etnam has been recovering significantly since the global financial crisis in 2008. This is an opportunity to attract foreign capital, including ambitious investors from Thailand. Returning to SCG's business story, when the domestic construction material sector, especially cement is facing numerous difficulties, it is a good chance for SCG to negotiate the acquisition. In the recent time, cement industry has been listed as one of the industries having high rate of environmental pollution and its operation gradually restrict- ed. Most of the operating cement factories are subject to environmental pollution problems. The State has issued plan to suspend the operation of the polluting factories. For example, the Department of Natural Resources and Environment in Quang Binh province has decided to suspend operation of Van Ninh Cement Plant for the reason that the plant discards untreated dust and smoke into the environment. That is the reason why many cement plants in Vietnam are being put on alert. In addition, the difficulties of the industry has forced cement companies to find buyers. From 2016 until now, Vietnam has put three additional production lines into operation, increasing the total designed capacity to 88 million tonnes. According to FINANCE industry forecast, the capacity of cement industry will continue to rise as new large- scaled projects will be put into operation. With too many new projects, the cement industry will be redundant while the export plan is not very positive because cement of Vietnam is currently disadvantaged in price and local producers are struggling to find the way out. According to assessment of the Ministry of Industry and Trade, although Vietnam has the largest cement industry in Southeast Asia with 58 cement plants and a total capacity of nearly 90 million tonnes per year, the country's export volume is much lower compared to Thailand, with only about 11 cement plants and total capacity of 46.7 million tonnes per year. However, the notable point is that the domestic consumption of Thailand only accounts for about a quarter of the total production. The advantage of Thai's cement industry is the long-time existence in the international market while Vietnam has only started to export cement and clinker since 2010. Thai- land has a long tradition of cement producing and its competitiveness is quality and fast shipping. Thus, it is very difficult for Vietnamese firms to compete. Not to men- tion, Vietnam's cement is currently competing fiercely with Chinese cement, especially in terms of price. Many cement firms said that in the last two years, China's export of cement and clinker of China increased in volume while selling price declined. According to Chair of the Vietnam Cement Association Nguyen Quang Cung, in addition to competing with neighbouring rivals, in the near future, the cement export of Vietnam will continue to face difficulties when the exporting cost of domestic cement will rise higher due to the new regulations. That is why Thai investors are invading and acquiring Vietnam cement industry to gradually dominate and create power in the field of real estate.

City rental market 10/APR/2017 INTELLASIA | VNS continues slump Many investors in HCM City are struggling to rent their apartments as the market continues its tepid streak that began in early 2016, according to the Dau Tu (Vietnam In- vestment Review) newspaper. For example, the owner of a luxury apartment in District 1 is renting a unit for VND24 million (US$1,054) per month, but he bought it for VND4 billion. To attract tenants, the owner, Hung, has furnished it for VND300 million. "The apartment is fully furnished and has a nice location, but it has been on the market for two months and only a few people have visited, and then they leave," Hung, the owner, said. Tran Th Thuy is also renting an apartment in Chu Van An residential building in Binh Thnh District. To lower rental costs, Thuy chose not to furnish the apartment and set the price at VND7 million per month. However, it has been three months and the apartment has not attracted any tenants. The townhouse segment in the city is also facing problems finding renters.

Intellasia 10 April 2017 37 / 66 Vietnam finance & business 10 April 2017

Tuan, for example, has had problems renting his three-storey house located on Truong Quoc Dung and Nguyen Van Tri streets in Phu Nhun District. He has lowered the rent to VND50 million per month from VND80 million. Though the "for lease" sign has been hanging outside for four months, not one person has called, he said. According to property website batdongsan.com.vn, rental prices for apartments in districts 2, 7, 9 and Binh Thnh have also declined. For example, in Binh Thnh District, monthly rent in Vinhomes Central Park, Sai Gon Pearl, Riverside, and Saigonland apartment buildings has been lowered by VND2-5 million per apartment. District 7, which has the highest occupancy level of all city districts, is also experiencing a price slump. In residential buildings like Phu Hoang Anh, Hung Phat, Hoang Anh Gia Lai and Era Town, a 60-70 sq.m apartment rents for VND7-10 million per month, compared to VND12-15 million last year. FINANCE Several high-end properties like Him Lam Riverside and Sunrise City are seeing a price drop in rentals as well. Nguyen Huy Vu, head of BANVIETLAND Corporation, told Dau Tu that too many apartment buildings had been built in the city and that investors who bought apartments within the last eight years had been unable to resell them and are now renting them. With supply exceeding demand, the market has become even more competitive. Vu Van Sang, a private homeowner who rents three apartments in Phu Nhun and Th Duc districts, said: "Part of the reason is that investors tend to buy apartments because of rental profit commitments made by housing developers. But it's the investor's job to find tenants, not the developer's. "On the one hand, this is good because it makes the market more professional, but, on the other hand, it increases supply. Amateur investors like me cannot compete with professional corporate players. No wonder the market is slumping." Sang said he planned to sell two of his apartments and find a new investment to get rid of the burden of his property loan. Le Hoang Chau, chair of the HCM City Real Estate Association, said the rental market would continue to face even tougher conditions because of the imbalance in supply and demand. Property speculators typically buy luxury apartments to rent, but most Vietnamese residents cannot afford them, while demand from expatriates living in the city is not high, he said. The uncontrolled purchases of apartments and investors' unrealistic expectations of the market have adversely affected the rental and property market, he added. "Just look at residential buildings at night. How many apartments have lights on and how many don't? The reality is that many residential apartments bought by buy-to-let investors are not occupied," Chau said. http://vietnamnews.vn/economy/374024/city-rental-market-continues- slump.html#XqZP7BFMKFJY0e4F.97

C&W: HCM City to 10/APR/2017 INTELLASIA | VN ECONOMIC TIMES have more office-for- Latest C&W report notes significant growth in Grade A and Grade B office-for-rent rent space in 2017 space in Q1. HCM City's office market is expected to have over 180,000 sq m of new supply in the pipeline, of which more than half will be concentrated in the central business district (CBD), according to Cushman & Wakefield Vietnam (C&W)'s first quarter report on the city's office market. One Grade B office building was completed in the quarter, supplying an additional 23,000 sq m to the market. There are currently ten Grade A and 51 Grade B office buildings, providing approximately 194,000 sq m and 769,000 sq m of space to the market, respectively. The Grade A and Grade B office-for-rent markets are growing well, the

Intellasia 10 April 2017 38 / 66 BUSINESS BUSINESS BIZ NEWS Vietnam finance& business Vietnam 10, 2017 10, Business BriefsApril Intellasia * Hai An Transport* Hai An Stevedoring and Compan beavailabl will the remainder two years, during which50percent of the ES fi the resultsduring business in thesecond and third quarter. Theamount place whichwilltake 2:1 bonusissuance, to 0. percent to0.4 equivalent Thisis 2021. ownership plan (ESOP)of 50 * Hau GiangPharmaceuticalCompany (DHG) 10/APR/2017 INTELLASIA| space-in-2017 http://vneconomictimes.com/article/property start tofeelsome pressure on their occupancy rates." be will of2017 second half the with a high numberofbig more see 'churn' marketplace we will as be of foracompetitive deals should preparing year," said Alex Crane, general manager the market will welcome some much-nee "We have seenstrengthening inaskingrents available astenants start relocating the second half of the year. However, there moderate rentalincreasesage ofsupplywith The willexperiencemarket a the totaloffice-for-rentover one-thirdof new year. areathis scheduled forcomp office buildings Grade A suppl ofGradeB half morethan and Grade A sq there toC&W, willbe180,000 According ter but increased onayearlybasis. Graderose A by5percent and Grade B1percent. Average rentals inbothA Grade Grade and B reaching sqm. 3,400 nearly Grade alsosaw a significant A recovery from cent,accounting88 per forne pe 723 and 66percentquarter-on-quarter up absorpshowed thattotalmarket The report year. last quarter-on-quarter but represented only 95 per Meanwhil year-on-year, reaching96per cent. 2 pe nearly increased inGrade A Occupancy report noted. 10 million employee stoc willseek Inc.(SSI) appr * SaigonSecurities Viet Capital SecuritiesCompany. equal billion in thequarter, reached VND737 products and a recent productivityimprov year thanksto increases ga of inrevenue ofth billioninthe of VND47 first quarter Investment Garment * ThanhCongTextile for2016. 2-for-l ratio company planstoissue 11.3million newshar year. this The billion toVND402 toraise ratio capital ata2-for-l shares new million ness and buying new equipment and issue 17 will firm addition, theVND600 billion.In ye percentfromlast 12 up in2017, billion k ownership (ESOP) sharesk ownership(ESOP) relocations. We have pent up demand fromoccupiers and scal period between 2017 and 2020. The scal periodbetween and 2020. lock-up periodis 2017 0,000 to 600,000 shares per annum for the period of2018- period for the per annum shares 600,000 to 0,000 period of six toninemonths where there will be ashort- arly halfofallnew office e fortrading twoyears. after a good time to strike co agoodtimetostrike , helping toease thelimited supply. rment products and prof of &Wakefield "Tenants Cushman Vietnam. is year, whichjumped114percent is year, year-on- ded supply duringded supply theremainder ofthe ar, while its revenue is set toreach over 5 percent of the outstanding shares after the after the shares theoutstanding percent of 5 spendVND450billion expanding itsbusi- oval from shareholders toissueamaximum Trading Company (TCM) made a net profit ement atitsVinh Long plant. Its revenue m of andall new leasingareain2017, will also be pockets of spaces becoming tion saw tion saw a record of29,000 sq increase m, of ESOP shares will depend on actual r centyear-on-year. Grade Brepresented r cent quarter-on-quarter and 5per cent across thecity inthepast12monthsand OP willbe unlocked after one yearand e, Grade B recorded a 1 per cent increase per cent Grade Brecordeda1 e, /c-w-hcmc-to-have-more-office-for-rent- letion in the third quarter will provide will inthethirdquarter letion the previous quarter's negative level, es to pay dividendfores shareholdersata to before returningtoatenant's market in to that in the same period of 2016, periodof2016, said inthesame to that y (HAH)targets ne a y willbe concentrated inthe CBD. Two remainedprevious quar- stableoverthe has proposedtolaunchemployeestock cent ofthe figure inthe same period mpetitive terms landlords as space for lease. Absorption in lease.space for Absorption it margin offiber t profitofVND150 10 April 2017 39 /66 10 April2017 BUSINESS Vietnam finance& business Vietnam investors market attractsforeign Vietnamese stock Intellasia ing a motive power themarket ing amotive for Techcombank, VPBank, Vietnam Airlines, Masan Consumer andFPTTelecom, creat- shares frombring thisbourseattractive public requiring theregulation In addition, as MobiFoneand Petrolimex. will market the stock that said Company, Weisblatt, director Barry of for These importantstepswillcreate faith continue benefiting thestockma will listing and equalisation that SOEs says generalof director Vinacapital, Don Lam, prises with the drastic instruction by the government. large receive to expected is it year This tions suchas Sabeco, Habeco Last year, thestockmarket officially saw added. he year, this bourses on shares their list will SOEs large more when pecially They havebroughtthe stock to is expected room ownership (SOE large statedownedenterprises of wave ket has opened manyopportunities for inve WistonLu, an analyst fromPhuHungSecuri has beenand VJC listedfor amonth. Of themNVLand SAB have officially been billion and VND205 respectively. va thenet purchase with airline of Vietjet Joint StockCompany,SAB of SaigonBeer, Th capital. muchforeign lured have also capitalisation an large Besides, stockshaving ($117 million) inthefirst quarter. StockCompany th Joint Products with Dairy St City HCM in shares purchased most The ever. the highest billion, $18.4 uous netforeignpurchase of local stocks At a press conference early March, chairof One of reasons for theincrease has percent.for 79 the value in Februaryaccounted these, bilisation touched VND40.7trilli Information from theState Se was established. percent over theend of 2016. It isthehigh percen 50.3 equivalent to billion), ($99.51 inth capitalisation So far, thehighest level 2014. March, since May Statistics stockcompaniesshowby that On April5, the VN Index hit 724.14 pointsincreasing 8.64 percent over last yearend. two boursesinthefirstquarter.on lion) has postedthene who foreign sector, from The Vietnamese stockmarket 10/APR/2017 INTELLASIA |SGGP Foods Company (GTN) tosecurea25percentstake in the enterprise. Compan Stock Joint Invest Ocean * Atlantic date. the issuance fortrading shares available twoyear after the percentof 50 make will SSI capital. working its supplement and benefits employee directors,board of themanagementboard,ke The year. within this each 1 0,000 VND at e Vietnamese stock market stockmarket e Vietnamese analysis andstudydepartment ofVietCapital Securities , ACV, Seaprodex andVinatex. , ACV, Seaprodex market avolumeofnew capi curities Commission ofViet curities Commission has reached nineyearpeak with the strong purchase lure more foreigncapital flow. on ($1.79billion) in thefirs rket and thestate assetvalue. points in2017. to increase been upforeign investmentfunds. scope listings from other statedowned enter- well-known companies suchas PV Power, net foreign purchasewas$106million in ey comprize NVLof Novaland Investment . In January, the net buying value topped buying . InJanuary,net the t gross domestic product (GDP) and up 16 (GDP)andup16 t gross product domestic the attendance of large stateownedcorpora- lues of VND353.6 bil VND353.6 of lues Alcohol andBeverage Corporation andVJC continue welcoming large companies such est level since the stock Vietnamese market mil- billion (US$153 purchase ofVND3,478 t s and theremaining after three years since shares will be offered tomembers of the investors and increase the market liquidity. the market increase and investors the commission thecommission Vu Bangreportedcontin- ock Exchange (Hose) isVNMofVietnam companies to list on UpCoM is forecast to to forecast is onUpCoM to list companies y has bought over 329,000 shares of GTN sharesofGTN y hasboughtover329,000 traded inHOSE since December last year stors with capital withdrawal and listing listing and withdrawal withcapital stors d listedon bourses foracoupleofmonths e total net purchase ofVND2,654 billion s). Inaddition, theextension of foreign ties Corporation, saidthat thestockmar- y staff of SSI and its affiliates toimprove affiliates andits SSI of y staff has topped VND2,260trillion has nam shows that capital mo- that capital shows nam tal attracting advantage es- t two monthsthisyear. Of lion, VND340.9billion 10 April 2017 40 /66 10 April2017 BUSINESS Vietnam finance& business Vietnam businesses Vietnamese to buy stake in rush investors Foreign Intellasia 3,000 businesses with the total value of $2.9 of$2.9 value businesseswiththetotal 3,000 foreign 20, 2016, to July 1,2015 July From businesses seek capable partners in the movement only becameclearer in 2015 In fact, foreign investors began buying into lion), followedby Hanoi, Binh HCM Citysawthe HCM highest numberofcapita valuedat$60 million. which had14deals, million. Real $124 worth made, deals 197 with good companiesbecausetheyca It will bedifficult to lure foreign investors if the state just sells 5-10 percent shares of from companiesout from the list which the state holdshares. The fieldsofwholesale&reta deals inth tor with220 made Foreign investors mostly targeted businesses year. tributed capital of million, hi $619 four times contribution and share purchase inthe first FIA (the Foreign InvestmentAgency) said th an 2015 began in etnamese businesses investorswave offoreigncapita The making 10/APR/2017 INTELLASIA |VIETNAMNET foreign-investors.html http://english.vietnamnet.vn/fms/business/ The governmentshould step upSOEsequi VJC. such as SAB and VNM, flow capital foreign that said experts Still, wi theVn-Index thesetwostocks, Without and SAB listed by the end of2016. Index last year was partly due to stocks New shares will make themarket noisier be should not be too optimistic about thefore optimistic should notbetoo Hieu, aneconomist, Tri However, Nguyen businesses. Vietnamese in astake buy Analystssimple said administrative proced tration procedures at st Vietnam's into orbuying capital tributing foreign investors don't havetoapplyforin Investment Law This occurredafter 2014 the fields, investment or inconditional nesses receivedforeignshareholders with nesses-347213.vov english.vov.vn/economy/foreign-investors- Fitch haveadvised investing in. To date, Vietnam still isnotamong the coun country shouldtrytoenhance its national credibility. in foreign encourage to order in Therefore, will onlymake investments if they can they However, decisions. investors' foreign affect laws simplified Hieu, to According Vietnam. including markets, uncomfortable about new policies, theyma administration are contributingtoanunce The changes in the world'seconomies and un year. keep flow will capital if the forsure can say ate management agencies. e field, worth $292 million. il and also repair vehicle Duong, Nghe An and QuangBinh. Nghe An Duong, nnot attendinthemanagement. valued at $3.425 billion in total. in billion $3.425 at valued the contextofglobalintegration. d increased significantly d increasedsignificantly last year. see bright prospects with large capitalisation value such as ROS investors contributed capital and capital into bought investors contributed hasjustconcentratedon few largestocks igners' capital contri businesses. Theyonlyhave to follow regis- vestment registration ce foreign ownership ratiosatover50percent rtain atmosphere. If foreign investors are foreign investorsrtain atmosphere. If . In M&A deals, . InM&A for example, Vietnam's ll increaseonly8.5percent,hesaid. vestors topourmoney intoVietnam,the Vietnam's businesses businesses Vietnam's tisation and urgently 176144/vietnamese-stock-market-attracts- billion. In 2016 alone, 2016 billion. In rush-to-buy-stake-in-vietnamese-busi- warned that statemanagementwarned agencies y withdraw capital fromnewemerging y withdraw two months oftheyear, the with two con- total months ing into Vietnaminthe last months of the ures haveprompted tries thatStandard& Poor's, Moody'sand cause the 15.7 percent increase of the Vn- increase ofthethe 15.7percent cause l contribution deals ( in the manufacturing and processingin themanufacturing sec- l contributions and buying a stake inVi- a and buying contributions l ere were 654 deals of foreigners' capital ere were dealsofforeigners' 654 capital gher than that gher thanthat of the same period of last took effect. Under the new regulations, predictable policies applied by theUS policies applied predictable estate was the third attractive sector sector thethirdattractive was estate attracted foreign investments in Vietnam's economy. in Vietnam's bution, because no onebution, because foreign investors to foreign investors divest statecapital 2,547 Vietnam's busi- Vietnam's 2,547 many years ago, but many yearsago,but 322 deals, $313 mil- deals, $313 322 rtificates when con- 10 April 2017 41 /66 10 April2017 BUSINESS investors to 228foreign codes VSD issuestrading finance& business Vietnam first quarter hopes rise on Stocks setto Intellasia vestors, including 44 organisations and individuals. organisations 156 44 vestors, including grantedse VSD Previously, inFebruary2017, individuals. ing 3,247 organisations and17,551 session. than 259.4 millionshares worth VND4.9tril fromthe increased liquidity trading Market northern The market90.15week.centhas dropped0.7 index points. weekon per at centExchangefell 0.6 toend Friday per Stock Hanoi the Indexon minor HNX The the previousweek. points. close benchmar The Friday at727.95 Vietnam's benchmark VN Index on the HCM StockExchange wasup0.7per centto cent since March 28 after speculati An example last week was Sacombank. Thebank's shares have soared nearly 18 per ing processes," VCSCanalyst Ducsaid. formation or are supported by good business "Investors should look for opportunities in then stockperformances could be amixedbag. "The positive effectscreated stocks that have risen recently base The marketcould also be pulled down by the havewarnedthat analysts However, BSC for thenext one or twomonths, Ducadded. VN the for level resistance The short-term points, he said. and 12monthssinceitsuccess The benchmark index has entered adevelopment stage that could range between six Company (VCSC). said VuMinhDuc,head ofin It isnotsurprising that market lastweek, down 74.5per centfromthe previous week. valu buy investors recordedForeign anet Lan said. ry andforeigninvestorsremainednet buyers The marketcould increase further after blue division atAgribankSecurities Company. reveal theirfirst quarter performances," sa "The stock market will likely increase this example,For steel mo producers'stocksare thathad beenforecast well todo but areyet expected toproduce figures. the flow directing quarter performances is AnalystsSecurities with BIDV Corp(BSC) sa season." holder meeting say, driven by expectations th Sharesrise willthis continueto as investor week sentiment remains positive, analysts 10/APR/2017 INTELLASIA |VNS numberof securi the current total Currently, cluding one organisation andone individual. organisations and29individual In addition, VSDapproved the change ofin trading codes to 228 foreign investors, in March for foreigninvestorsin trading codes The Vietnam Securities 10/APR/2017 INTELLASIA|VNECONOMY released earnings reportsfail released Depository (VSD) hasannounced theissuance of securities the benchmark VNIndex has reached new heights recently, by expectations forgoodearnings reports candecline..., dividual customers division withViet CapitalSecurities to investormeet expectations. fully overcame the mid-term resistance range of 690-695 mid-term resistancerangeof690-695 overcamethe fully at good earnings reports will be released in the "share- the in be released will reports earnings good at s; andcancelled trading codes for two investors, in- on emerged on itsrestructuring process. d on forecast first-quarterd earnings. cluding 40 organisations and 188 188 individuals. 40organisations and cluding e ofVND225.6billion in Vietnam's stock of money in the market towards companies the market of moneyin week as listed large- the pressureofprofit id Nguyn NgcLan, head of the brokerage stocks thathave good, basicbackgroundin- Index is fornowand points points 730 750 formation for36investors, including seven ving up after underperforming for awhile. underperforming after ving up lion (US$219 million) being traded in each each million) beingtradedin lion (US$219 2017. Accordingly, in March, VSD granted granted VSD inMarch, Accordingly, 2017. k indexfinished 0.8per centhigher than chips ended Friday inthe territo- positive Friday ended chips previous week with though theirdeclined purchases sharply, ties trading codesis ties news such as M&A deals and restructur- deals M&A newssuchas firsthigh expectationsofgoody thatthe market couldalsoface curities trading200to codes foreign in- cap firms are about to about are firms cap -taking that targets targets that -taking an averageofmore 20,798 codes;includ- 20,798 acorrectionifthe 10 April 2017 42 /66 10 April2017 BUSINESS help pull VNIndexup increases Oil price finance& business Vietnam down while HNXHSX up Intellasia http://www.vir.com.vn/oil-price-increases-help-pull-vn-index-up.html billion. More than47million shares were exchanged on the northern bourse, worth VND651.4 The northern market index has dropped to Stock Exchangefell Hanoi the Indexon The HNX nomic conditions and global markets. ca and be cautious should investors that It isunlikely that thebenchmark index can in anote. said Corp(BSC) Securities BIDV ones," gaining outnumbered stocks declining as able "The the has however, VN level of725 points, got over Index the gains notsustain- are Plastic producers, ITfirmsandseaf (MSN). company Masan er goods (SAB), FarosConstructionCo The southernwas alsoboostedbyothe bourse cent stakeinSacombank. which the bank said it would consider sellin Eximbank has released its documents for th per cent. 6.9 of limit ing (EIB)imbank and Sacombank(STB). EIBjumped3.4percentandSTBhitits daily trad- The banking sector was alsopositive on Friday spectively. PetroVietnam Drilling andWell Services (PVD), gained 4.4 percent and 2percent,re- The two listed on energy firms the southernbourse,PetroVietnamGas(GAS) and of4.6 a five-dayrally Brentrose crude0.7 percent totradeat ed by the rally of oil prices. the centreofattention wereEnergy stocks million). (US$238.47 trillion traded, worthVND5.36 from rosestrongly liquidity trading Market level. closing week's Friday'sfinishIndex increasethe previous cent 0.8per alsohelpedtheVN than higher points, 727.95 reversing fromThur The benchmark index on theHCMStock Exchange was up0.7per cent toclose at prices. ofoil movement positive benchmarkVietnam's VNIndexclosed upon 10/APR/2017 INTELLASIA |VNA hopes.html#ztvimht14sPqGxhi.97 http://vietnamnews.vn/economy/374337/s the previousweek. rose0.4per value trading volume and Trading The VN Index opened at 723.22 pointsand The Indexopenedat723.22 fluc VN unchanged. was previous day'strade,andonHNX VND4 Liquidity on HSX reached VND3.4 trillion ($15 VNALL-Index 5.29points (0.5 per cent). points (0.61per cent). The UPCoMIndex incr 1.00 andthe cent) HNX30-Index per (0.61 points lost0.56 theHNX-Index On HNX, points. percent),andthe (0.95 points VNMid-Inde On HSX, theVNIndex increased 4.73 poin Main indexesonHSX finished higher on afternoonseesVNIndex Active 10/APR/2017 INTELLASIA |VNECONOMIC TIMES per cent since March 31. since March per cent rp (ROS), dairyproducerVinamilk(VNM)andconsum- close above725pointsonApril7. sday's decline of 0.1 cent. per ood companies alsoperformed well. a one-month high of$55.26 abarrel, totalling refully observe themovements ofmacroeco- Aprilthose 7while on Friday as their performancesFriday wereboost- on tocks-set-to-rise- ts (0.65 per cent), the VN30-Index 6.55 6.55 VN30-Index ts (0.65 per cent), the tal 1.1cent per inthelast twodays. x 0.02 points. The VNSml-Index fell 0.03 fell0.03 VNSml-Index points. The x 0.02 extend its gains further, BSCsaid, adding Thursday with with nearly 230 million shares Thursday e coming annual shareholder meeting, in coming annualshareholdermeeting, e g all of its 165 million shares or 8.76 or8.76 per shares 165 million ofits g all eased 0.12 points (0.21 cent)andthe (0.21 per eased 0.12 points r large-cap stocks such stocks r large-cap Friday, boosted by the energy sectoron Friday, boostedby 85 billion($21.4mill 85 tuated before falling to its bottom of bottom the toits tuated before falling cent and 11.2 per centrespectively over 0 million),more orlessthe sameasthe with strong gains intheshares of Ex- 0.6 per cent tofinish 90.15points. at on-first-quarter- on HNX closeddown. on HNX ion), also virtually ion), alsovirtually asbrewerSabeco 10 April 2017 43 /66 10 April2017 BUSINESS Vietnam finance& business Vietnam on foreignownership cap toscrap HSC seeks negative afterholiday Shares remain Intellasia also boost the liquidity of the company's shar On theoppositeside, energystockshelped bank. that property developer Novaland decidednot dropped 0.8per Shares ofSacombank cent (STB). Sacombank and (ACB) Bank mercial between 0.3 per cent and 2.4 per cent each decliner the worstFinance-banking stockswere on thestockmarket.heavy pressure putting continued toincreaseInvestors their sellin worth VND3.48 trillion (US$154.7 million). traded being shares million more than148.2 with high was liquidity trading Market Wednesday. cent on 0.5 per of further fromadrop declining on the HanoiStockExchangefell HNX Index The The points. market at in 723.26 southern The benchmark VNIndex on the HCM StockExchangewas almost unchanged,ending Thursdayinvestors ascautious were Shares closed innegativeterritory on Fr 10/APR/2017 INTELLASIA |VNS down http://vneconomictimes.com/article/bank billion($52,956). VND1.2 Foreign investors net sold on HSXbyVND opening price and PVSandNTP increased 1.2 and 1.6 fell2.8percent ACB On HNX, VCS and the largest cap,VNM, with VND128 billion ($5.6 million). million) billion ($14.6 VND331 with by STB ROS saw thehighest liquidity onHSX,with cent, while MWG closed atitsopeningprice. Among otherlargecaps,HPGincreased1.3 closed at its opening price, while FLC an In realestate, DXG increased4.7per cent cent. In energy, GASrose 4.4 per ce closed at its opening price and MBB and BID lost 0.3 per cent and VCB 0.1 per cent. hititsceiling In banking,STB and SBT0.2percent. KDC and fell VNM 1.7 In food and beverages, BHN increased 6.7 to close day'strade 727.95 points. the at In theafternoon itagainfluctuatedbefore ri recove mid-session then points day of720.3 In the document sent to shareholders before the meeting, the firm said that raising the the raising that said firm the meeting, the foreign ownership limit could impose some before shareholders to sent document the In 24. The matter will be up for discussion at wholly foreign invested. scrap the foreign ownership capof 49 per HCM Securities Corporation (stickerHCM) 10/APR/2017 INTELLASIA |VNS http://bizhub.vn/markets/shares-rema per cent. 0.6 up and Pe by onepercent (PVD) increased es twoper cent gained (GAS) Gas PetroVietnam days. prices bouncingbackstronglyinrecent increasing 6.9 per cent, while cent. EIBrose3.4per increasing6.9percent, CTG nt, PGDclosedatitsopeningprice, and CNGfell0.9per about currentmarket conditions. in-negative-after-holiday_285338.html HSC's annual shareholders' meeting on April HSC's annual on shareholders'meeting iday morning after thenationalholiday on dex closed on Wednesday at 723.22 points. dex closedonWednesdayat723.22 d KDH lost 1.3 percentand d KDH 1.2 per cent. , KBC1per cent, and VIC 1 per cent. NVL ing-finance/mnpwzcq9-hsx-up-while-hnx- troVietnam Technical Services (PVS) edged edged (PVS) Services Technical troVietnam , including Vietcomban cent to pave way fo cent topaveway g in blue chips and other large-cap stocks, stocks, large-cap other and chips inblue g per cent. SHB, PHP andVNRclosed attheir per cent, MSN 3.1 per cent, SAB 1 per cent, cent, 1 per per cent,SAB 3.1 per cent,MSN the avoiddeclin market on Wednesdaylocal after reported media 197 billion ($8.7 mill ($8.7 billion 197 , HSG with VND142 billion , withVND142 ($6.2 million), HSG ring to close the morning at 723.3 points. ring toclose morningat723.3 the sing to726.8 points then edgingupwards per cent,ROS1perper cent,and VJC0.3per is seeking its share restrictions on the bu restrictions on VND754 billion VND754 ($33.3 es, and increase its ability to raise capital capital raise to ability its increase and es, per cent per cent and 0.6percent, respectively. , PetroVietnam Drilling and Well Servic- and Well Drilling , PetroVietnam per cent and 0.4per cent cent, respectively. and per s. Sixoftheninelistedbanksdecreased to take part in the restructuring ofthe partintherestructuring to take 0.7cent per at toclose 90.04 points, r the tobe company holders' approval to ion) and onHNX by k (VCB), Asia Com- k (VCB), siness,it could but ing further, withoil million), followed 10 April 2017 44 /66 10 April2017 BUSINESS Vietnam finance& business Vietnam revenue on rising net profit bags $65millioninQ1 Gas PV Vietnam's Intellasia ping uptherestructuring ofthe economy lower cr planned governmentThe Vietnamese has cent to14.2million barrels per tonnes, or 285,000 day. an cubic meters, billion 9.61 to percent 9.4 PetroVietnam, itsparentfirm,hasalreadyproj and businesstargets for 2017. scheduledGas is PV tohold itsshareholde coming years. helps and output gas natural declining try's Gas outputfromSuTuTrang, oneofthefour field off the country's southern between coast and 2035. 2020 to second phase the Corporation todevelop agreement Gas signedan February, PV In down quarter, 8.9 percent from in thefirst Overall, Vietnam'snaturalga targets PVGassaid. of theannual for 2017, liquefied petroleumgasoutp Condensate and its percent of 27 three months,or This year PVGas produced nearly 2.5billi per barrel. global crude oil prices decreased 15 percent In the net whole saidits pr of PV Gas 2016, lion, based on thecompany's financial statement. periodas of2015,the same reported in lion made anet profit ofVND1.478 trillion inth Last year PV Gas, the gas processing arm advisingunau said inastatement, ago whilerevenue rose nearly 7percentinth trillion($65 VND1.476 reached anestimated The HCMCity-basedfirm, also yearago. period a the same in percent 44 improvementaf year,a last period significant quarte first net in profit the PetroVietnam Gas Corporation, Vietnam'sbigg a year agotoVND15 trillion. qu first inthe revenue reported The company 10/APR/2017 INTELLASIA |VNEXPRESS The return on average equity(R tively. brokerage servicesmargin lendingacco and isset target revenue Its total $16 million), up 19 per centyear-on-year. netprof The companyisexpectedtoraiseits It aims to raiseitsbrokerage market ket share, with 11.2 per centinthe last quarter of 2016. is thesecondlargestbrokerage firm HSC when required. ownership.html cent. The firstpaymentof5per cent toraise its cash alsoplans The 2016 company year-on-year. per cent year's 13 per cent, and the earnings per sh http://english.vietnamnet.vn/fms/business/ up 39 percentce and43 per bi VND824 revenueof posted a HSC 2016, In r ending March stoodnearly flatcomparedendingrsame withthe nt year-on-year, respectively. nt year-on-year, 23 per cent higher than lastyear, ofwhichincomefrom s output reacheds output anestimate knownasPVGas, reported January-Marchnet profit OAE) ratioistargeted at 14. annual target, thestatement said. dited results for the first quarter. thefirst dited results for share to12.3per cent thisyear. was made on January 12 12 this year. onJanuary was made on the HCM Stock Exchangeon theHCMStock interms ofmar- d the crude oil output would drop would 14.6 per- output oil d thecrude of state oiland gas PetroVietnam group, toward sustainable growth via expanding sustainable growth via toward are (EPS) is estimated at VND2,645, up10 are is (EPS) estimated atVND2,645, with PetroVietnam Exploration Productionwith PetroVietnamExploration r meeting onApril 17todiscuss production a year ago, government statistics statistics show. ayearago,government on cubic metersof natural gas inthe first ofit fell 14 percent to VND7.17 trillion as trillion ofit fell 14 percent toVND7.17 176099/hsc-seeks-to-s tril- revenue fell9.6 toVND14.04 percent e first quarter, far below the VND2.66 tril- belowtheVND2.66 e far quarter, first unt for 45 per cent and 41 per cent,respec- 41 per centand 45 per for unt it target in 2017 to VND361 billion (nearly billion(nearly VND361 to in2017 target it meet Vietnam's risingdemandforfuel meet in from the previous year to an average $45 average $45 an year to previous from the tap gas at the Su Tu Trang (White Lion) Trang (White Tu gas atthe Su tap fields in block 15-1, could offset thecoun- offset could 15-1, block in fields e same periodtoabou million), almost unch million), almost llion and netprofits dividend ratefrom12per centto 17 per ter reporting an annual net profit fall of profit fall reportingter anannualnet arter of 2017 arter of2017 rose nearly7 from percent ut have also reached around 30 percentreached around 30 ut havealso ected natural gas output this year tofall est listed energy firm, said Friday its its Friday said firm, energy est listed ude oil outputthisyear as it is step- d 2.52billioncubic meters 7 percent,higherthanlast crap-cap-on-foreign- of VND304 billion, anged from a year anged fromayear t VND15 trillion, it it trillion, t VND15 10 April 2017 45 /66 10 April2017 BUSINESS shareholder of VAS become themajority to TPG Asiasets finance& business Vietnam Intellasia odology, using it as a guideforthe students th to introduce alsothefirstschool is VAS of going abroad. In particular, CIE's A Level also receivethe national Ministryof Educ Examinations Council(CIE), whichhave knowledge, skills, certificates, and diplomas issued by the Cambridge International the VASbilingual Students enrollingin City. inHCM grades Programme throughoutall ery oftheCambridge InternationalEducation VAS has created differentiation and a comp especially private schoolsteac alternativestopublic Many with the school since itsinception. and Vietnamese international teache quality The growthofVAShas been achieved by a bringing more educational opportunit HC in Hills campusandplannedcampuses Garden the as such newly-opened and facilities buildings innew investments With which has led toanincrease 4,10 from growth has thrived since it introduced the InternationalCurriculum, Cambridge K-12educati private largest It isnow the crease fromthe2004 school year acrossseve than6,300 students has VAS more Asia,andwe in Southeast believe busine the "VAS isa ofthe good type ofcreaexample managing director class, and ithasastrong brand with great educational model responds to the needs and preferences oftheexpanding middle- "VAS isa business that is Masan Group, andFPTCorporation. AcrossTPG's platforms, pastcurrent and andWharf Union BankofColombo, T&T. scope, HCPPackaging, JanalakshmiFinanc include8990 past andcurrent investments one ofthefirstAs equityto private firms invest inAsia,TPG CapitalofsomeAsia's more thanmanaging $6 Kong, professionals inBeijing,Hong ment invest- with TPG, for platform Asia thededicated is Asia Capital management. TPG alternat leading global TPG isa the leader in to remainthemarket staff expand itscampuses, improve Leveraging TPG's expertise in Asia and in vestment is closed. Tan Nghi Pham Founder (VAS). for success in higher levels inhigher for success MAJ Invest, will fully divest their holdings fully divesttheir MAJ Invest,will As part of this tran shareholdersVietnam Aust of asse Global alternative 10/APR/2017 INTELLASIA |VIR profit-on-rising-revenue-3567127.html http://e.vnexpress.net/news/business/vie PV Gas stocks closed up per shareon 4.4 percent atVND57,200 Friday. the sectors which do notrely on th of TPGAsia. saction, two private equity funds, saction, twoprivate t firm TPG has just entered into entered hasjust TPG firm t billion inassets. uniquely adapted to theVietnamese market. Itsinnovative of education andinlife. of Diploma atVAS helps many st education havebeen opened inrecent years inVietnam, ralia International School to become amajority owner. to School ralia International hing international programmes. ive asset firm with more than $74 billion of assets under under assets of billion $74 than more with firm asset ive the quality of its programmes, and further develop its a will continue as a VAS shareholder asaVAS TPG's after a willcontinue in- , whenit had e exploitation ofnaturalresources. 0 students currenttotal. 0 students in toits 2014 ies to students throughout Vietnam. throughout students ies to bilingual K-12 education segment inVietnam.K-12 education bilingual programme have advantages in terms of in programme haveadvantages on group inVietnam. schoolThe system's tnam-s-pv-gas-bags-65 million-in-q1-net- tnam-s-pv-gas-bags-65 permanent, worldwide currency.permanent, worldwide Students ation and Training-mandated qualifications.ation andTraining-mandated e "7-core-value system" initsteachingmeth- investments in Vietnainvestments in potential for growth," said Dominic Picone, Picone, Dominic said forgrowth," potential Melbourne,and Singapore, Seoul, Mumbai, Holdings, Cushman & Wakefield, Health- Wakefield, & Cushman Holdings, tive investmentopport to sector, VASwillcontinue education the in VietnamAustrali to develop strongvalues ial Services, Lenovo, M CityandHanoi, the school system is dedicated teammo of etitive advantage by pioneering thedeliv- rs andstaff, many ofwhom have been ss will thrive in pa in thrive will ss in Vietnam,combinedwith theNational n campuses in HCM City -- a steep in- asteep -- campuses inHCMCity n 400 students. MekongEnterprise FundII and a definitiveagreementwiththe udents saveoncostsinstead rtnership with TPG." rtnership with a InternationalSchool m include Proconco, m include Myer, PropertyGuru, re than 1,300 re than1,300 high- unities we look for for look we unities as well as prepare 10 April 2017 46 /66 10 April2017 BUSINESS Vietnam finance& business Vietnam major highway PM okays $2.4b for Argentinean market VN productslook to Intellasia The has PM alsoinstructed the MoT toreview the project. He hasasked the MinistryofPlanning andIn tions andattract investment. It quotedthePMassaying the mechanisms policies for the project, the report said. and Justice, andthe State Bank of Vietna ofPl also collaborate with theministries appr Assembly the National projects soonafter responsible transport ministrywillbe The added. The finalselection willbe based on cost and ding toplan process and de The report saidthat a consultancy firm wo clearance. forsite support capital provide also The governmentwill is transparentand highly effective,the announcement said. The highway will beconstructedPublic using Private a Partnership (PPP) model that on Thursday, citing agovern nam's expressway network until 2020 (withnam's expressway networkuntil2020 a report its results to thego to results its report He hasasked the Ministry of 2016-2020 period. ernmentthe bondsduring ofVN55 tr with investment Highway South Prime Nguyenminister XuanPhuc has agr 10/APR/2017 INTELLASIA |VNS productsto enter the for Vietnamese So had aworkingsessionwith leadersof week Representatives fromthe Trade Officeof 10/APR/2017 INTELLASIA |VNS vas.html http://www.vir.com.vn/tpg-asia-sets-to- w teachers and staff VAS the accompany to to continue City andother provinces.Iamveryhonoured inHCM es "Regarding our expansionplans,VASintend VAS executive chair Marcel vanMiert. and faci the activities, the teaching-learning develop- the in ment and training ofourstaf invest will we TPG, of support the with years, five to three next the "In bizhub.vn/news/vn-products-look- cent inthe whole country. To the a30.1 cent date, group has retail per nationwide. under construction the leading retailersinArgent now oneof is and hyperm supermarkets chainof is a Coto crafts, wood furniture and coffee, he added. house like inimports interested Coto is ucts onhis supermarkets' shelves. Meanwhile, President of Coto Group Alfredo Cotosaidhe wanted Vietnamese prod- trade, shesaid. two-way increase help it will Once aresoldinCotomarkets, products Vietnamese Argentinean market. ances tohandicrafts.goldena opportunity ThisisVietnamesefor goods toenter the office, said Pham HongTrang,headofthe chain. vernment, the Giao Thong (Tra vernment, theGiaoThong sign thehighwayconstruction. Transport (MoT)toconduct ho willcarryout this plan." f, the further improvement in the quality of our service, our of further improvementf, the inthequality ment Officeannouncement. to-argentinean-market_285368.html anning and Investment, Finance, Construction hold appliances, electr uth America country's America uth become-the-majority-shareholder-of- m to develop investment mechanismsand the Vietnamese Embassy in Argentina this the VietnameseEmbassyinArgentina Coto products range from household appli- products range fromhousehold Coto for directing theplanningof component market share in Buenos Aires 18.3per inBuenos and marketshare uld be selected through a competitive througha bid- uld beselected competitive eed to support construction of the North- of eed tosupport construction lities throughout the entire system,"said entire throughout the lities arkets, established in Argentina in 1987. It in1987. inArgentina established arkets, the Coto Group to explore opportunities the CotoGrouptoexplore and policies must both abide with regula- vision to2030), towa illion (US$2.4 billion) sourced from gov- ina withover branchesand others 120 20 and adjust the plan andadjust vestment to counciltoassess vestment to form aState feasibility of their technical designs, it it of designs, their technical feasibility s toopen manymore large-scale campus- oves of highway's masterplan.It will nsport) newspaperreported a pre-feasibility studyand onic products,handi- leading supermarket supermarket leading rds developing the on developing Viet- 10 April 2017 47 /66 10 April2017 BUSINESS 4.0 forum Industry VET holds finance& business Vietnam Industry 4.0wave the rides Scantech Intellasia Vietnamese manufacturers are usingalot of more inthe demanding investors wa foreign are challengesfor the What the manufacturin transform business opportunities for his firm. general director ofScantech First came steam and thefirs First camesteam revolu the industrial about fourth nam EconomicTimeson April 7 at the JW Lose" 4.0-Gain & was hosted by Revolution Viet- "Industrial A CEO Forum entitled fourth industrialre &Lose 4.0-Gain Revolution "Industrial 10/APR/2017 INTELLASIA |VNECONOMIC TIMES last Decemberon building the North-So the transp follow latestinstructions The PM's said. the PM regulations, Road markers should be instal inst into6-10lanes Highway North-South ese business landscape even profound more 3D technology is the coretechnology ofIn 10/APR/2017 INTELLASIA |VIR Dang Viet Dung, CEOofUberVietnam, beli such as and textiles garments. http://vneconomictimes.com/article/bu thinking," ofKirbySoutheastCEO ed. "Even though Vietnamese workers areskille Edu policies. and inmechanisms be support Experts andspecialistsbelieve that forVietna intoit. ing cent saidtheydid notunderstand Industry4. revolution butsome79 per cent had done ab were per cent members, 85 ofits2,000 out that A survey conducted by the Hanoi Small and Medium Enterprises Association revealed life more convenient," NguyenHu housewarethe smallest household, witheven of mode On theother hand,"theapplication in thefuture, he added. Th artificial intelligence. the foundationof on revolution istheconvergence ofeconophysics wo of the number cut definitely will try 4.0 AccordingThanh Huyen,the Garment10Company, Indus- NguyenThi totheCEOof tellectual workerswillbeaffected computers," CEO of theFPTGroup,Truong "Eight-five percentofthe wo cooperating bothwith each other and wi decisions. The physical systems become the physicalphysical systems monitorthe processes and makefactory ofthe decentralised This revolution introduces what hasbeen ca botics with very little inputfromhuman hands. canlearnandcontrol with equipped that algorithms ro- systems remotely tocomputer come togetherinan and automation puters industrial thefourth nowweenterinto And lines. automation, when robots and machines be the with came revolution industrial third cestors. Thencameelectricity, theassembly volution may hold for and theeconomy society. t machines,whichmechanised Vietnam JSC, told VIR's Phuong Thu how this shift will will shift this how Thu VIR's Phuong JSC, told Vietnam rk at the Big 4 auditing firm theBig4auditing rk at led along the highway tomanage land in accordancewith tion among Vietnamese enterprises. first whenIndustry4.0kicksin. Asia, Anup Kumar Dave, toldVET. ng, CEO ofTP Bank, told the forum. uth Highway (from Hanoi to HCM City). (from HanoitoHCM uth Highway siness/vet-holds-i ead of 4, as originally proposed. of4,asoriginally ead " forum on April 7 hears views on whatthe th humans in real time via the web. the via th humansinrealtime advent ofcomputers and the beginnings of dustry 4.0, which will connect the Vietnam- rkers needed inlabour gan toreplace humanlabouron assembly Marriot Hotel Hanoi to raise knowledge Hotel Hanoitoraise Marriot line, andthebirthofmassproduction.The rn technology will slowly creep up on each rn technologywillslowlycreepupon ort ministry's submission ofthree proposals entirely new way, with robotics connected eves the substanceof solutely nothing to prepare. About 76 persolutely nothing 76 toprepare. About "Internetcommunicating and ofThings", ly with the world. revolution, orIndustry4.0,inwhichcom- lled the "smart factory", in which cyber- inwhich factory", the"smart lled cation, however, willhavetobe innovat- out-of-date anda highrateof equipment 0 and 55per centthey said0 werestill look- y ofprecision, cost saving, and quality? Gia Binh, told the forum, addingthat in- g industryinVietnam, in the contextof is will certain alter the industrial sector sector theindustrial alter certain is will , digitaleconomics, an m to enter intoIndustry there 4.0, must to be connected tothe internet, making very interested in the fourth industrial industrial thefourth in veryinterested d, they are somewhat lacking in critical incritical lacking theyaresomewhat d, ndustry-4-0-forum s rightnowisbeingdoneby the manual tasks of our an- manual tasksof the Nguyen Minh Khoi, Nguyen -intensive industries the fourth the fourth industrial d biologics,based 10 April 2017 48 /66 10 April2017 BUSINESS Vietnam finance& business Vietnam 4G race phase of hand infinal Viettel holds upper Intellasia http://www.vir.com.vn/scantech-rides-the-industry-40-wave.html printing systems, and 3Dapplications and solutions. to theirfields. The key productswhichSc tion. Customers will receive more informati Our staff will test samples andreduce service prices by 50per cent during the exhibi- VME's placeinthemachinery, technology, (VME) Expo Manufacturing theVietnam At Face-to-facemeetings will k helpus toopen more wants Scantech and individuals. businesses, tutions, plications, andVRsolutions in wi Vietnam, ap- scanning, in printing, and services equipment 3D insupplying company leading tothis strategy,inthenextthre According carry out its full co focu Scantech has From2012, been continuous. focused in Vietnam As oneofthefirstfirms industry? toVietnamese bring and 3Dtechnology adapt What is the marketing plan of Scantech for chaeology, thedefence industry, ou increasing we areconstantly cooperationswith Through leadin powerful Viet- in role big a industry. nam's 3D taking now is Scantech 3D, in experience of years 10 than more With manufacturing. and testing, moulding, design, R&D, as such phases, all in chain supply the global join pler, faster, moreexact, andcost-focused. It points ofviewand product th 3D technology is the core technology ofthefo fashion, andconsumer products. ture. Fields with untapped applications include healthcare, themilitary, architecture, tor, technologyproducts,andinart-relate only has last fiveyears,In the 3Dtechnology How havemanufacturersinVietnam em end-products. of cost the lowering and improving their own productivity byincrea shortened time andcost in research anddevelopment (R&D), risk, and labour, and are that prop Right now,businesses tivity, making it hard have disadvantages These labour. manual Viettel plans to launch 4G all overthecoun 4G all to launch plans Viettel been andisready installed not only for4G many BTSinsuch a short time. leaderof The numberas This there a record is (BTS). inst firm has months, the last six over the deputy DucThang, Tao newspapers, Talking to periods. launching similar situation has race, the 4G However, inthe could Viettel jointhebattle. programmes. 3G launch officially to viders ecommunications Group(VNPT),and they ha 3G services. At the time, VinaPhone and Mo Several yearsago,networkproviders inVi ese networkproviders. and launched tobeofficially going 4G is 10/APR/2017 INTELLASIA |VIR mprehensive strategy. for made-in-Vietnam forgoods tocompete made-in-Vietnam with others. direct contact with partnersdirect contact andpotential customers. inking. Itmakes the productivi r utility in all fields of busi of fields all in r utility erly approach the 3D field aretakingadvantageofthe 3D erly approachthe and aviation, and in daily life. indaily and aviation, and now their requirements andneeds better. has been no networkproviders toinstall so this willopen up a new race among Vietnam- braced andadaptedto3D technology? alled 36,000 4G base transceiver stations 4Gbase transceiverstations 36,000 alled d initiatives such as VR museums and sculp- e years,Scantechwillfocus on becoming the antech willpresentare 3D scanning and try by themiddleof try changed as giantshave four Vietnamese , butalsofor5G and6Ginthe future. limited productdevelopmentand produc- etnam had different launchingperiodsof etnam had and trendsmarket. Vietnamese ofthe on through live demosthatthey can apply the next three years, including the plan to on 3Ddatadigitisation,Scantech's growth th awide customer range including insti- Only half a year VNPT's3Grollout after sing manufacturing a manufacturing sing biFone belonged to Vietnam Post and Tel- Vietnam Postand biFone belongedto also gives businesses more of a chanceto of a more also givesbusinesses g 3D companies from all over the world, 2017, we hope to understand more about more about understand wehopeto 2017, urth industrialrevolution.Ithaschanged Viettel said that the infrastructure has has thattheinfrastructure said Viettel been involved in fields like the auto sec- involved infieldslikethebeen d the advantage of d advantage being thefirstpro- the sed on building up a specialist team to team a specialist up building sed on general director of Viettel, said that said director ofViettel, general ness, such as health,art,ar- ness, suchas ty circle mucheasier,sim- April 2017. Also, Thang Also, Thang 2017. April ccuracy andquality, 10 April 2017 49 /66 10 April2017 BUSINESS Vietnam finance& business Vietnam startup businesses HCM City supports dollar' Chinesetours crackdown on'zero Prime ministerorders Intellasia http://www.dtinews.vn/en/ October 6. seized and arrest warrants havebeen issued fo to losses of USD9bn. Three companies were shut down and 2,155 tour buses were Thailand hasalsocracked downon zero dollar tours which the country claims has led profits arereturnedtoChinese operators. into spendingalargesumofmoneyon gift low tour packages for visitors. Visitors onl Visitors visitors. for packages low tour on--zero-dollar--chinese-tours.html According toseveral experts, zerodollar to rarely want to return to Vietnamasecondtime. tourism firmsaresupportingthesepackages.Th so-called packages are 'zero dollar tour' be Compan Tourism Viet Director ofVongTron services ofsuchfirms. use cut short and the mealsare cheap. Theyarealsoforced togooverpriced shops or However, once inVietnam, theyaretransferre have toworry about accommodation or nam isoneofthepopulardest be tour packagesare 2015, cheap Since early ism totightenmanagementover ch Prime minister Nguyen XuanPhucordered th 10/APR/2017 INTELLASIA |DTI NEWS netw Inthepast, decade. last Also, he added thattheVietnamese network phone numbers. attract and new ones, especiallyascustomers areallowe customers old serve to quality high ensure to is coverage wide the said He that unacce is 23hours, for theremaining available. Ifcustomers canconnect to 4G are persistently connected athighspeed. For "The implementation ofour4Gprogramme and remote areas. networkprovider willextend4Gcoveragethis phase,rural provinces, toother next HCM City focus onbigcitieslikeHanoi, to provinces.Ho in53 4G BTS additional 8,000 4G 4,500 hasinstalled it said that MobiFone SIM card conversion, which their competit preparatilittle newinformationabouttheir Two otherfirmsthathavealsobeenlicensed 2017. theApecSummit Festival and about 400BTStoserve itskey eventsofth cally completed. Only halfas Meanwhile, a leader ofVinaPhone stated that giving Viettel' 4Ghigh speed, capacity, an of thehighestnumber said that Viettel has The programme was carried out atthe city's startup enterprises on April 5. The Department of TaxationinHoChiMi 10/APR/2017 INTELLASIA |VNA http://www.vir.com.vn/viettel-holds-upper-hand-in-final-phase-of-4g-race.html capacity, theirstrategies competitive little room forbrandstodifferentiate th 4G coverage inkeyareas in all the cities of news/017004/50324/ ork providers competedbyco many VinaP BTS asViettel, inations for suchtours.Chin eap holidaysfor Ch have tochange,quality. focusingon emselves. Thus,nowadays, to increase the entrance fees to beauty spots. beauty fees to entrance for only one hour a day and are left with 3G for onlyonehouradayand leftwith are ptable," Viette's TaoDucThang ptable," Viette's said. e year, theDanangInternationale Fireworks d large coverage, consistency, and stability. nh city launched a programme tosupport nh citylaunchedaprogramme Vietnam.In particul y have to pay forpl ing offered in Vietnam. Anumberoflocal in offered ing BTSamong all mobile networkoperators, ors havealready been doing for months. ur packagesareatric s andother services. However, most of the ons. Some of their publicised news include ofpublicised news their ons. Some , Hai Phong,CanTho,andDanang.Inthe, BTS. In 2017, MobiFone plans to launch an launch to plans MobiFone 2017, BTS. In wever, in the first phase, MobiFone plans for 4G, MobiFone andGtel,havereleased for4G,MobiFone tax office and five sub-departments indis- office and tax market has changed significantly over the ing offered toChinese tourists and Viet- will only be successful when customerswillbe successful only when d toswitch whilekeeping operators their this, we have to ensure that 4G isalways y Phan Dinh Hue admitted last year that year that last admitted y PhanDinhHue d toanotherfirm. Their stayathotelsare its preparations for 4G have been basi- itspreparationsfor4Ghavebeen r ninepeopleinvolved inthe tours as of e Ministry of Culture, Sports andTour- e MinistryofCulture, prime-minister-orders-crackdown- e industry is badly affected as visitors inese tourists. hone's 15,000 BTS will ensure BTS will hone's 15,000 verage and charges, leaving andcharges,leaving verage ese tourism firmsoffervery ane tickets and tickets don't ane ar,Danang willhave k to attract customers customers k toattract 10 April 2017 50 /66 10 April2017 BUSINESS Vietnam finance& business Vietnam canal in HCMCity revitalise polluted to investors Japanese welfare social market, ensures HCM City stabilises Intellasia 346968.vov http://english.vov.vn/econom ma tobuy age Vietnamese is programme stabilisation market The city's Subsidised fruit. this and used being is pork origins tracing dustry, said "Weare focusing on the qualit Nguyen HuynhTrang,deputy director of toimprove trade infrastructure HCM City is combining traditional andmo hy- and safety food ensure to food goods." dependable supplyof of a giene and producers credible in invest to is policy "My said general of Thanh Nhan,director Nguyen producers toensure asteadysupplyofgoods. Many enterpriseshavedeve milk, andeggs. beginning.shops inthe 86 enterpwith only240 offe There shops arenow10,500 trust." consumers' gaining pr Duc district.Shesaid"The IEx intheLinh Trung My works Thi Nguyen cial welfare andmeeting low-income families' need for essential goods. The 15-year-old stabil market fordable prices. to enabling citydwellerssation programme, locality the first City was ago, HCM years 15 10/APR/2017 INTELLASIA |VOV5 http://en.vietnamplus.vn for business establishment. Therefore,committed to the department was businessesare afinancialforceto Director ofthe Department of Planning social insurance, accountingand co startup businessessupport withfree taxdecl ciation, tax andcertificate services agencies The municipalDepartmentof Planning and and declaration payment. e-tax toconduct for enterprises The portalprovidesdocumentsontaxandadmi reduce taxviolations. also aimsIt tosavetimemoney and forbusinesses, mitigate troubles for taxpayers and State taxmanagement. ing achannel toeaseconcerns abouttaxpoli toprov The programmeaims on 16, 2016, olution No.35/NQ-CPMay issued Head ofthe department Tran NgocTam saidthe moves aim tocarry outgovernment Res- www.hcmtax.gov.vn/. alsoactivate day,thedepartment The same trict 1, 3,TanBinh, Tan Phuand Binh Chanh. tion opportunities for the southern Vietname tion opportunities for the ficials, headedby Party chiefDinhLaThang, the ten-day workin was partof The meeting Canal inHCMCitymeeting afteren Tam a investorshave A ofJapanese agreed number 10/APR/2017 INTELLASIA |TUOITRE NEWS goods shouldbe ofgoodquality." /hcm-city-suppor de-in-Vietnam products. loped distribution networks andbrands and work with ices are reasonable. The qual reasonable. The ices are isation programme ha ide startup businesses with tax information while creat- y/hcm-city-stabili thestabilisation price programme. ring essential goods at subsidised prices, compared prices, atsubsidised goods essential ring boost the city's economicboost thegrowth. rporate administration, amongothers. and Investment Su Ng and Investment the Saigon Trading Cooperatives'Alliance, ts-startup-businesses/109873.vnp HCM City's Department will be applied to chicken, vegetables, and and vegetables, chicken, to beapplied will y ofgoodsand goods' supply. A toolfor cies andprocedures andensuring effective pledgedtoput forth dern distribution systems and optimising d a portal to assist startups athttp:// startups toassist d a portal with city leadersinTokyoon with Saturday. Investment alongwiththe Business Asso- aration services, tax services,tax aration g agenda ofa delegation of HCM City of- buy high-quality essential goods at af- to help revitalise the eight-kilometer Xuy- eight-kilometer the revitalise help to port Processing andIndustrialZone, Thu coordinated with a campaign to encour- to with acampaign coordinated on supporting anddeve on inVietnamtocarry simplifying administrative procedures se metropolis and Japanese cities and and Japanesecities se metropolis inJapantoboost ties and seek coopera- rises are selling rice, cooking oil, sugar, sugar, oil, rice,cooking areselling rises ses-market-ensures-social-welfare- nistrative procedures, makingiteasier s achieved its goal of ensuring so- ity of goods is improving, is ity ofgoods oc Anh said non-State declaration software, practical policies to to policies practical out amarketstabili- of Trade andIn- of Trade loping businesses. 10 April 2017 51 /66 10 April2017 BUSINESS Vietnam finance& business Vietnam HCM City river bus routes in Local firm to develop Intellasia in-ho-chi-minh-city http://tuoitrenews.vn/business/40439/japanes the by chieftold Party 2020," on tocommencing iscommitted work City "HCM Thang said. ministration forapproval, and become available nextmonth, upon which The construction plan would be draftedby year. as this ly site clearancefinishedwithin15monthsso Party chiefThangpromised Japanese invest ca) loans. 70 percent ofwhichwould be funded by project a massiverenovation on thecanal a at In Marchlastyear,theadministration ofHC circumstances. was neverimplemented but 2002, as early as to million)plan (US$5.5 billion A VND123 sis. District, mete receiving around40,000 cubic The canal is the destination of about 40 Vap Districts,measures between Canal, whichsnakeseigh The XuyenTam said. in2015, Thang Committee Party municipal by the along the polluted canal, and is among th service will connect Bach DangWharf in Di un routes river bus build will The company service couldcontribute toea earl statement in a said government The city to use the new service. and the city inJune, in bus service river Municipal authorities have asked the compan city. velop riverbus routes as a me The HCM governmenthasgiventhe City green 10/APR/2017 INTELLASIA |THE SAIGON TIMES The project, despite its small investment,is canal renovation project. Engineering, andOrientalConsultingGroup-- At the meeting, agroupof Japanese investor businesses. Tickets cost VND15,000 ride. per Tickets costVND15,000 to day a two trips The company will conduct route.minutes totraveltheentire Bach DangWharfandbetweenometer route The companywilloperate 10boatswitheach Hung areas,Phu My bothand Den Do inDistrict7. isalsoweighing The company two other ro Tan CangTouristArea. Thu ThiemNewUrbanArea,oneinDuc hasalsosecuredapproval The company to develop three other wharfs, with one in tions. solu- prevention jam traffic have should company the routes, transit public and roads wharf the Since intact. area the in landscape repairs tokeepthemake minorwharfrenovationsand to the firm askedhascity The Duc District. Japanese investors on Saturday. asure to cope with with asure growing tocope in the road traffic congestion sing road traffic congestion. 17and metersinwidth. 42 offer reasonable fares toencourage commuters percent ofhousehold sewage inBinhThanh e seven breakthrough programmes outlined Japan InternationalJapan C t kilometers through BinhThanhandGo der the build-operate-own format. The first that work on the project could beginasear- the projectcould on work that the DepartmentofTransport municipal renovate the canal hasbeen inplace since strict 1 and Hiep Bi Hiep strict 1and area istheconverging utes linking Bach Dang Wharf with Mui Dang Wharfwith utes linkingBach vital tothe livelihood y this week that the forthcoming river bus forthcoming that the y thisweek rs of untreated wastewater ona daily ba- orsthat HCMCityauthoritieswillhave transport an estimated 5,000 passengers. transportan estimated 5,000 M Cityapprovedaproposaltocarry out s -- Daiwa Housing, Mitsubishi, Fujita able to carry 60 passengers on the 11-kil- passengersonthe 60 tocarry able Hiep Binh Chanh. It willtakearoundHiep BinhChanh. 30 e-investors-to-revital unfavourable tomultiple due in reality y to prepare forthe launch ofthefirst District's TruongThoWard, andonein cost of VND5 trillion ($223.21 million), trillion($223.21 cost ofVND5 showed particular interest in the city's city's the in interest particular showed it would be submitted tothecity'sad- wouldbe it submitted light to local firm Daily CoLtd to de- the canalin2017andhavingitdone nh ChanhWardin Thu ooperation Agency (Ji- point of waterways, waterways, of point of citizens living of citizens ise-polluted-canal- 10 April 2017 52 /66 10 April2017 BUSINESS incubator become technology help to Microsoft's Hanoi wants finance& business Vietnam focus energywith green business inVietnam further expandits Rent-a-Port NV Intellasia 109872.vnp en.vietnamplus.vn/hanoi-wants-microsoft the developmentof informationtechnology. will pledgedthatthe He administration local technology zone. soon, Chungnoted, askingMicrosofttoc A software industrial park invested by Vietnam's Vingroup will bebuilt in Hanoi technology, andwants Microsoft's coop On April8, Rent-A-Port Green Energy inke 10/APR/2017 INTELLASIA |VIR Hanoi attachesimportance tobuildingast out on schedule and at the fastest pacenationwide. He saidtheVietnamesecapita Stefan SjostrominHanoion April Microsoft Sector at Public Asia for President vice receiving while theremark made He Microsoft toturn cooperation with Ng Chair oftheHanoiPeople'sCommittee 10/APR/2017 INTELLASIA |VNA City.html HCM http://english.thesaigontimes.vn/53345/Lo Rent-A-Port keeps expanding it Rent-A-Port keeps Zone in HaiPhong city, Vietnam. over all the shares ofAIG, tobecome the largestthe 20 - companiesthe BEL20 of ofBelgium, amember -- took Van Haaren Concession GroupVINCI, and of the success asubs thecompanyRent-A-PortNV, Since 2008, worldwide. zones industrial as well as ergy developmentinfrastructures, ofport,logisticsandmarine andmanagement en- green can fall back on a wealth ofin-house experi of marineinfrastructures an and investment companyheadquartered in Belgium, specialising in the development cent per Rent-A-Port GreenEnergyis100 problems ofsalinisation the tion tosolve (MARD) Development Rural and riculture the Mekong Delta. Each demo plant consists the MekongDelta. Eachdemoplant of providing fresh water for at least 200 hectar ered water desalination plants with the inve wi MARD and firm Belgian the Accordingly, duction inthe Mekong Delta region. wind in on cooperation MoU withtheMARD In November 2016, Rent-A-Port Green Energy route by sea. traffi dangerous diverts that ports waterway Uong Bi.Rent-A-Port Vu and modules inDinh Delta and HaiPhong,pioneering in solar en nam. These includes projects inwind-pow ingreen investing energy The groupstarts Oman, Belgium. Rent-A-Port Green Energy have participated megawatts. stalled sofaroffshore(30kilometres). The "far shore" wind farm C power. This was the the pioneeringthe drivingforcebehind managementRent-A-Port GreenEnergy's was in QuangNinh province, creating the Deep d industrialzones. Through itsshareholders, Rent-A-Port l city's plan to build ane-government is being carried industrialzones not only in 5, according to Hanoi Moi daily. Moi Hanoi to according 5, the cityinto a te eration inthisfield, he said. major shareholder of the DinhVuIndustrial ooperate in making th in therice fields inthe Mekong Delta. uyen DucChung has expressedhishopefor owned by Rent-A-Portowned NV,anengineering cal-firm-to-develop- s-help-to-become-technology-incubator/ ered waterdesalinationin MekongRiver total farm capacity was approximately 360 360 wasapproximately capacity farm total artup ecosystem, especi for the sustainable development ofViet- d the MoU with Vietna on wind andsolardriven micro desalina- ence in the analysis, design, construction, analysis, ence inthe of two water productionunitswithatotal of two C industrial ergy in north Vietnam,ergy waste-to-energy innorth stment of$15million, whichare capable c on road to a safer and more ecological more and road to asafer c on in several related power green projects in first time ever that timeeverthat first ful listed industrial group Ackermans & Ackermans group industrial listed ful ll set up five dem upfive ll set provide the best possible conditions for for conditions possible thebest provide -driven desalination for agricultural-driven desalinationfor pro- and Rent-A-Port Utilities, signed an es ofricefields in fivelocations across is also looking at developing an inland inland an developing at looking also is idiaryof CFE, part of thelarge French chnology incubator. cluster of 3,000 of3,000 cluster hectares. HaiPhong city, but also river-bus-routes-in- onstration wind-pow- e parkaninnovation wind turbines was in- m's Ministry ofAg- ally in information ininformation ally 10 April 2017 53 /66 10 April2017 BUSINESS Vietnam finance& business Vietnam Dak Lak Province in plants energy clean Businesses keenon Malaysia showcase in international Halal Vietnam attends Intellasia 347187.vov http://english.vov.vn/economy/vietnam-at and Europe.East the Middlethose fromAsean, 580 businesses drew showcase The MIHASisalarge-scale showcase onfood sia's halalhepledged. market, uct exporters. The office will continue to support local businesses in entering Malay- potentialimmense forVietnamese market has Halal the SonHa said Nguyen inMalaysia Trade Office Vietnam of the Counsellor tors. and tarofromother Vietnamese businesses ofHapro'sproductslikecandiesand Some products. Halal expand to partners seeking while event, the pany wants to study customers' interest an Tran ThiMyHanh, deputy director of Ha 8. province-347127.vov http://english.vov.vn/econom Don Districts. toge capacity have the will which factory, the power Meanwhile, US hasspent$750 million on group AES Corporation a solar solar plant on anareaof1,117 a 1,117 ha in MW the same locality. vest $310 million in a250MWsolar installation while TH True Milk Groupwill build Long ThanhInfrastructureDevelopment an solar inEa District. installation Sup in a2,000MW Th Xuan Vietnam's projects, power solar For ofelectricity per year. KW lion the Centra in first ofitskind The farm,the with total capacity of 120 MW in inve Ltd has Power Company Wind The HBRE plants. power at solar be generated will tricity capa atentative and Buon Hotownwith tricts Wind powerwillbe developedKrong in Bu MW. 5,250 province aims Dak Lak with avisionto2030, According toanationalmaster onso plan committee. People's to theprovincial according Lak, of Dak Highlands intheCentral projects power wind and velop solar Many domesticand foreign enterpriseshave 10/APR/2017 INTELLASIA |VNA 2017) in the (MIHAS Showcase The Hanoi Trade Corporation (Hapro) partic 10/APR/2017 INTELLASIA |VNA green-energy-focus.html http://www.vir.com.vn/rent-a-port-nv-further-expand-its-business-in-vietnam-with- aging director of Rent-A-Port sa source for the development ofsuch plants in the Mekong Delta," Marc Stordiau, man- We arealsowillingto help Vietnam identi productioning Vietnaminimprovingrice oftheregion'slivelihoods andthe farmers. "We are tobe expecting around250 such plants forthelocal people. drinkable produced would bebelow0.1per cent, maki combined peak of400 capacity cubic metres y/businesses-keen-on-clean from 33 from33 thisyear, countries and territories including capital city Kuala Lumpur of capital cityKualaLumpur id at the MoU signingid attheMoU ceremony. Dlie Yang Commune, Dlie Yang l Highlands, isdesigned450 mil-to produce pro's HCM Citybranch, said pro's HCM that the com- lar and windpowerdevelopmentto2020 nerate 300 to 500 MW in Ea Sup and inEaSup nerate 300 Buon to 500 MW fy and seek themost suitable financing tends-intl-halal-show spices, along with cashew nuts, lotus seeds d demand during itsfirst in participation d Investment Company has plannedtoin- d InvestmentCompanyhas cooperation inthe import andexport of were highly valued by international visi- international by valued highly were k, CuM'gar, KrongNang, Ea H'leo dis- per day.The salinityofthefreshwater ien Company Ltdwillinvest$2.2billion ien Company ng it suitable for irrigation and even forirrigation and ng suitable it ipated in the 14th International Halal to bring clean energy capacity to about about to energycapacity clean bring to been granted investment licenses to de- s and services The of Muslim-standard. businesses, especially agricultural prod- agricultural especially businesses, city of 1,382 MW. Therestoftheelec- city MW. of 1,382 built intheregion, as apartofsupport- sted million awindfarm $270 to build Ea H'leo District.Ea H'leo -energy-plants-in-dak-lak- Malaysia from April 5to fromApril Malaysia case-in-malaysia- 10 April 2017 54 /66 10 April2017 BUSINESS 2017 target of $2.25bnfor Vinamilk sets revenue finance& business Vietnam at $162mn Vissan's revenue 2016 growth targets Vinamilk publishes Intellasia http://bizhub.vn/markets/vinamilk- tobe 15. onApril held quarter of the first 2017, the targetsinitsreport Vinamilk released farms,withanadditional its 251,000 Between 2017 and 2021, Vinamilk andNew Australia Zealand. States, the East United Asia, tions inSouth isalsoseeking investment The company ket share especially inthefrozen good In the long term, Vinamilk plans tolead cent, higher thanthe percentin2016. 16.7 The current averagecorporateincometax rate http://asia.nikkei.com/Business/AC/Vinamil Abbo Nestle, FrieslandCampina, including cent over the past five years despite stiffer competition from foreign and local rivals, Cityarerelatively compared HCM humble The targets beingpresentedtoshareholders percent and 4percent, respectively. over revenue and 9.7 trillion donginnet prof tion network covering about 130,000market tion network covering fresh meat, poultry andprocessed food.Itpo Vissan Founded in1970, the is coun among be sold in the southern market. fa raised at being heads 10,000 trillion($434.7 VND9.7 an increase of eight per cent from2016, As for2017, the milk company's currentreve ered on par or abovethe market average. Vinamilk's expected 10per cent growth rate markets. foreign from million) ($851.5 will also launch pork products that are free are that products pork launch also will company the year, this of quarter third the In years. few next in cent per 45 to market According to company leaders, it is trying reaching 28,500 tonnes, andprocessed food19,760 tonnes, up 14.5per cent. to su Thecompany expects porkoutput 2016. million),up23 per billion($6.8 and VND156 Vissan targets high revenue and profitforth begeneraldirector. will generaldirector, deputy An, Quang Giau Huynh board willbe onthe him alsoapprovedthe dismissalof The meeting the company's financial report released lion ($162million)and pre-ta Meat manufacturer theVissanJointStockCo year. Recent shareholders meeting alsoagrees to 10/APR/2017 INTELLASIA |VNECONOMIC TIMES per cent ofwhichwillcome from the domest earningsis total goalfor 2021 The company's erage production by capacity 2021. target forthe next five years of 10 per cent The Vietnam Dairy Products Joint Stock 10/APR/2017 INTELLASIA |VNS Vietnam Dairy Products, or Vinamilk, is aimi 10/APR/2017 INTELLASIA |NIKKEI million), an increase of four an million), x profitofVND148.2billion rms in Dong Nai and Ninh Thuan. Allofthispork will in DongNaiandNinh rms aims to harvest a total of harvest a aims to publishes-growth-targets_285370.html tonnes from individualfarmers. tonnes s sector anddevelop new sales channels. whereas the 2017 desired post tax incomeis tax post desired 2017 whereas the at its shareholders meeting on April 5. April meeting on at itsshareholders the domestic milk market,mar- their expandthe domestic Company (Vinamilk)announced agrowth opportunities through mergers and acquisi- and mergers through opportunities for the upcoming shareholders meeting forthe upcomingshareholders for annually, annually, with a70per cent increase in av- from antibiotics and ha from antibiotics and to increase marketshareinthe fresh meat general director VanDucMuoi.Replacing general tt, THTrueMilk, NutiFood, and IDP. high revenue and profittargets for this try's leading producers and exporters of try's leadingproducersexporters and to gains that sometimes exceeded 13 per- k-sets-revenue-target-of-2.25bn-for-2017 per annum from 2017 to 2021 to is consid- per from2017 2021 annum set at VND80 trillion (US$3.58 billion), 75 setatVND80 (US$3.58 trillion nue goal is VND51 trillion goalisVND51 ($2.28 trillion), nue s and more than1,000 supermarkets and mpany recordedrevenu at nextweek's annualgeneral meeting in ssesses many advantages fromadistribu- ssesses advantages many is year, of VND4.5 tr year, ofVND4.5 is cent and5per cent, respectively,against ic market ($2.73 bill ($2.73 market ic it in 2017 -- year-on-year increases of 8 increasesof8 year-on-year -- in2017 it , fromshareholder Satra. Nguyen Ngoc ng for51trilliondong rpass 35 per cent comparedtolastyear, cent per rpass 35 appliedtoVinamilk per cent from the previous per centfromthe year. previous ($6.5 million),accordingto 157,000 tonnes of milk from 157,000 tonnesof ion) and 25 per cention) and25 per illion ($198million) ve traceability, withve traceability, in 2017 is17.5per in2017 ($2.25 billion) in e of VND3.68 tril- e ofVND3.68 10 April 2017 55 /66 10 April2017 BUSINESS Vietnam finance& business Vietnam non-core investment found with massive southern Vietnam Lottery firmsin Intellasia massive-noncore-investment http://tuoitrenews.vn/business/40418/lotte for individuals responsible sanction the "If thenon-core investment withdrawals come projects." are ing and as"manyprovinces st finance, Hai said the companies should be forced towithdraw from risky sectors, suchas bank- used if they had been channeled into educationor healthcare. tors, saidthe nearly VND1trillion of non-co Nguyen HoangHai, general secretary of th is speedingcompany upitsdivestment processes. banned lotterycompanies from investing outs Company director Ly Minh An saidthe tors and saysit can onlywithdrawfr million) intodifferententitiesoperatingin The TienGianglottery firm, forinstance, has take sometime. may their non-core ventures in the near future, The ministry inspectorate also demanded increase billion plans, andVND431 ($19.2 million)tothe billion($64.64 stat VND1,448 The finance ministryasked sevenofthe lo tal intonon-corebusinessventures, according to inspectors. convincingreasons forneedingmoreca lacked toincrease asked either had The companies should therefore be carefullyvetted. billi ofVND4,137 total by a companies The finance ministryalsonoted that plansto reportsfromthe lottery firms. dated financial inspecto the according to million), ($44.51 The combined non-core investmentofthes said. ($3.61 million)was for meant their core bu long-ter ($48.13 million)for 11companiesha By theendof2015, these istry of Finance's inspectorate announced. million)into se (US$44.64 billion VND1,000 All 11lotteryticketcompanies insouthernVietnam havecollectively channeled nearly 10/APR/2017 INTELLASIA |TUOITRE NEWS http://vneconomictimes.com/article/busi of more than VND809bi of80.91 code under withatotal VSN, the In October,thecompany traded on the Un (CJ) Company CheilJedang Korea's CJ South The Agriculture International Company (A ($4.57). VND102,000 was biddingprice highest totalling 63.6million, or six timeshigher The IPOcaughtmuch attention, attracting ch cent ofits to 14per equal shares for sale, on 7, 11.32million held was March with (IPO) offering public initial Its convenience stores. llion ($36.2 million). m financialinvestment,though arter capital and with an init an and with arter capital om thesenon-core investments by 2020. on ($184.69 million) are inappropriate and inappropriate are million) on ($184.69 those investmentde investments were made before Vietnam investments weremade ness/vissan-s-2016 than the number of shares available. The The available. shares of number the than though the firms say the divestment process the divestment thoughthe firmssay million shares and a registered stock value value stock and a registered shares million rs tasked with exam with rs tasked 4 million) for unpaid taxes andfees. d billion earmarked more thanVND1,078 the finance, water supply, and tourism sec- andtourism watersupply, thefinance, that the lottery companies withdraw from companies thelottery that ttery companies to pay back a combined a combined back topay ttery companies ill in need of money for social welfare ry-firms-in-southern siness operations, th listed Public Company (UpCOM) market e companiesamounts to VND997 billion 142 investors with purchaseregistrations nco) under the Masan Group overcame e Vietnam AssociationofFinancialInves- ctors outside theirmainbusiness,theMin- ctors outside re investments would have been ofbetterinvestments wouldhavere e budget e for submittingimpropercapital budget chartered capitalmore invested a total of VND453 billion ($20.22 ($20.22 billion totalofVND453 invested a to become Vissan'sto strategic partner. increase the registered capital ofthe11 capital registered the increase ide their coreide their business,addingthatthe with losses, we should also find and we shouldalsofind losses, with pital, or intended to put the extra capi- theextra to put orintended pital, ial price of VND17,000 ($0.76). price ofVND17,000 ial only overbillion VND80.8 only -revenue-at-162mn cisions," he said. ining the 2015 ining the2015 consoli- -vietnam-found-with- e financeinspectors thanthey should, 10 April 2017 56 /66 10 April2017 BUSINESS start blast furnace blast start meets requirementto Ha Tinh steelcomplex billion Formosa's $10.5 finance& business Vietnam condotel BIM Groupto develop Ascott partnerswith Intellasia general." property Quang NinhProvince's of velopment BI betweenAscottand said: "Thepartnership Le Minh Dung, directorofthe property segment. tobecomethe highlight expected is ities, urban area, Citadines Marina th in Ha LongBay the coastof Located near debut this month. its cons Citadines MarinaHalong, project inQuangNinhProvince under the brand Citadines. operators, has partnered withBIM Group to start operation of thewastewat the companycompleteThe expertsremaining the askedthat procedures be ableto to province ofHa Tinh. mental protectioncomponentsofthe$10.5bill Committee after theworking grouphadcarried at theme conclusion onApril4 nounced the director ofMoNR Deputy requirements forthe first blas Tinh Steel Co., Ltd (HFS), asubsidiary of mented by abodyofother The workinggroupfromtheMinistry ofNatural Resources andEnvironment comple- 10/APR/2017 INTELLASIA |VIR The Ascott Limited,among theworld'slarg 10/APR/2017 INTELLASIA |VNS HFS now, of as that said They of actionincase ofanincident, andtr ment-to-start-bl http://www.vir.com.vn/formosas-105 billion-ha-tinh-steel-complex-meets-require- sequent inspectionidentifiedthereason aswa fishwere 2016, found dyingenma In April prime minister, who will then official comple whole the evaluate will delegation operation. Itaskedthe tocomple company the requirem meets The delegationsaidHFSnow more pollution. thenbutcompany one-sidedly the switched tousingquenching,wet whichcauses approved by was Originally, HFS's project whic quenching ofcoke, wet todry current government agenciesearlier. jobs notatallaffectedhe received affected bytheFormosaincidentwere not people whoselivelihood iscentred on fishin reported intheprocess. According tonewspaper tuoitre.vn, there were caseswhere out thepromisedco started paying HFS has ceived 40-50per cent lessbookings and re- tours cancelledpre-arrangedcent of saw about50perprovinces ism, thefour of Vietnamdecreasedthe shores by of miles pipe was whollyunmarketableandtheprice 20naut within seafoodexploited 2016, July the endof Accordingthe government'sevaluating thedamagesreleasedat reportto provinces. fering economic damage andformarineen payaco saiditwould In lateJune,HFS ast-furnace.html E's Vietnam Environment Agency Hoang Van Thuc an- Agency HoangVanThuc Environment E's Vietnam scientists have concluded that HungNghiepFormosaHa concluded have scientists There isonlyoneleft, changing thetechnologyfrom t furnace to startt furnace operation. Halong, with service and with world-standard quality amen- Halong, has corrected 52outof53 er quality monitoringsystem, isting of condotels and luxu isting ofcondotels fty compensation,ca than in the same period of 2015. of same period inthe than ly authorise HFS tostartoperation. ainworkers inoperatingthese components. mpensation of $500 millionforhouseholds suf- $500 of mpensation business of Quang Ni Taiwanese Formosa PlasticsCorp.meetsthe Taiwanese of the northern propertymarket'shigh-endof the compensated,while people who work in authorities withdry quenchingtechnology, e province'sinfrastructure-developed most x before andthe reportstothe it MoNRE sse alongthecentral co te the remaining structures and then the and then structures the remaining te est internationalserv h HFSsaidwould be completedin2019. ical miles of HFS's wastewater discharge discharge wastewater ofHFS's miles ical vironmental pollution mpensation, but many shortcomings were 30-50 per cent on-year. In the area of tour- of the area cent on-year.In 30-50 per eting with HFS and the HaTinhPeople's with HFSand eting g and relatedservices andwere directly develop thefirstworld-classcondotel of productsexploitedwithin20nautical M Group will contribute to boosting de- to boosting Group willcontribute M ion steel and port complex in the central complexin and port steel ion stewater released duri market in particular and of Vietnam in in Vietnam of and particular in market out aninvestigationofthe environ- ents forthe first furnace to start blast using disagreements. the violationsidentifiedby ry apartments, willmake as well as compile a plan as compile as well nh-based BIMGroup, iced residence owner- ast of Vietnam. Con- ofVietnam. ast treatment offour ng HFS' testrun. 10 April 2017 57 /66 10 April2017 BUSINESS Vietnam finance& business Vietnam electronic parts sophisticated producing businesses in Vietnamese Samsung toassist Intellasia to-develop-condotel.html http://english.vietnamnet.vn/fms/busine million in2012. equipment efficiency aswell petitiveness ofVietnamese en chain, since 2015, Samsung's supporting rate andthe presence ofVietnamese en It cities inVietnam. The groupiscurrentlyoperatingnearly4, We Somerset Hanoi, Grand as Sumerset such number of credit a cott Limitedhastoits years ofdevelopingpr more than20 With ern region. developments, the northern province is expectedtobecome atouristhubin the north- property intourism investment dollars of ofbillions thelanding and industry tourism to improve efforts authorities' local With but had only 18hotelsof4or 5-star ca Statistics revealed that the province welcomed 2.62 million foreign arrivals last year Photo BIMGroup -- projects inmajorcities. The AscottLimited has been operatinganu year. shortage ofluxury accommodation, receiving Citadines MarinaHalonghasbeen introduced Groupto forBIM andcreate impetus ucts 25 percentreduction indefectrateanda su Through theconsulting,all In response to the call of the government government the of call the to response In sung's factories inVietnam. inthe dures andcompleteallstandards consult andworkwiththem inthefollowing10weeks reforming productionproce- KoreanSouth experts will surveyandasse uct technology andproduction qualitycontrol sung willcontinue to sendSouthKorean ex Vietnamesefirmsparticipating 12 With tothe and contributing development Vietnamese businessestoget further invo demonstrates commitmentin theSamsung's vendors, creating aripple effect inVietnam'ssupporting industry.turning This point pi a launch will Samsung year, inthis Also thisprogrammeforthe join time. first will ics Vietnam Disp Samsung like affiliates Samsung And would bringthe totalnumberofbusine which prov to be will 2017 in target Samsung's chain. supply global the produce sophisticated electronic parts which (PCB, speakers built into TV, wire harness ity consulta of expand their field industries suchas printing to According the consultati the roadmap, 2017. year Vietnamese enterprises, assisting themin ki officially Vietnam 5, Samsung April On 10/APR/2017 INTELLASIA |VIR "We hope Citadines MarinaHal s RealEstate Investment Trust (A , packaging, and plasticmoul as reducing inventory days reducing inventory as tion tohi-tech industries such terprises, bringing positive achievements in improving ppliers have achieved goodresults, including average ong will set a new quality st setanew quality will ong of Vietnam'ssupp tegories, with a total of 3,200 of3,200 rooms. withatotal tegories, terprises in Samsung's component supply componentsupply inSamsung's terprises ide consultationforsuppliers, 12Vietnamese in the consultation programme in 2017, Sam- 2017, programmein consultation in the successful projects under the brandsuccessfulSomerset, projectsunderthe product and parts supply process forSam- ss/176080/ascott-partners-with-bim-group- programmes have helped programmes have increase thecom- on programme started in 2015 withfocuson started in programme on 30 percentincrease the infrastructure system and promote the and the infrastructuresystem joiningthecomponent supplychainforthe of Vietnam, whichis of Vietnam, lved inSamsung's component supply chain 600 apartment units in seven provinces and seven provincesand units in apartment 600 develop other projects," Dung said. ojects in Vietnam, Singapore-based TheAs- cked off their consultation programmefor their cked off lay Vietnam andSamsungElectro-mechan- lay ss local firmsfor twoweeks and directly lot model for tier-1 vendors to guide tier-2 tier-2 vendorstoguide fortier-1 model lot and more)tohelp Vietnameseenterprises perts experienced inthefieldoffinalprod- mber ofworld-classserviced apartment increasing localisationsupporting rate, have added-value have added-value and hi-tech content in st Lake andSomerset Chancellor Court. to directly guide them for 12 weeks. The themfor12weeks. guide to directly an increasing number oftourists every at a time when QuangNinh is facing a ss consultees ss consultees to 26 since theyear2015. scott Reit)earned revenue of $33 orting industry. ding. In 2017, ding. In2017, Samsung will andpoor-qualitystages. as electric and electronics andard forpropertyprod- in manufacturing capac- raising the localisation 10 April 2017 58 /66 10 April2017 BUSINESS Vietnam finance& business Vietnam invest in DakLak TH True Milk to Intellasia http://vneconomictimes.com/article/busi favourable conditions for inthearea. enterprises toinvest district, inEa Sup projects investing and diff with deal and to resolve committee ing provincial power plan.The People's Committ its revise to th and supplement and study power planning Trade and Industry of Department the asked also Nghi Ngoc Pham Chair tothegovernment. forreporting abasis province soit has surveythe the landuseplan constructi and Ngoc Nghi Committee Pham vincial People's At a recent meeting between the Group and the province, Chair ofthe Dak Lak Pro- vantage, creating the basis will bring into full play the local advantag bringing hi focus on ence andtechnologyto Thai Huong, Chair ofthe TH TrueMilk Grou ment forapproval. the province decidetoapproveth that posed the locationof fruit plant. processing Re the Groupwillsurvey its investments, up MW. Tospeed 1,000 and thesecond MW will beimplementedin two The investment Company. on 1,117 habelonging to Dak Lak Forestry It alsoplans to investinasolarpowerpl in theprovince. ing Limited Liability Companyandfrom join terials primarily grown onlandbelonging to fruit proces a modern is to build The Group tral highlands province of Dak Lak. invest to looking is Group Milk True The TH ince. Group tobuildfruitprocessing plantand so 10/APR/2017 INTELLASIA |VNECOMIC TIMES in the numberoflocalfirmsparticipating the Sa of consultation programme isone This said.Vietnam, president ofSamsungComplex and sustainablecommi Samsung's long-term producing sophisticatedparts consultation expansionindustryinto hi-tech enterprisescompetitiven inincreasingtheir "During the past twoyears, Samsunghasal Electronics VietnamThai Vietnam, namelyin Sa Samsung's plants tier-1 vendors and 178 tier-2 vendors). They phisticated-electronic-parts.html http://www.vir.com.vn/samsung-to-assist-v ratein2017. localisation sung's global chain value as wellhelp es will promisingly create more opportunities for Vietnamese suppliers to join Sam- in su point theturning present. Thisyear, from ofproducts localisation rate the raising hasalsore Vietnam 2017. Besides, Samsung of number total Samsung's expectedthat, It is Nguyen (SEVT), and SEHC ComplexinHCMCity. for sustainabledevelopment. and joining the value chain chain is the value joining and Samsung achieve its goal of increasing ofincreasing goal achieveits Samsung ness/th-true-milk-to ant with a maximum capacity of 1,117 of1,117 MW capacity ant with amaximum msung Electronics Vietnam(SEV),Samsung thereby speeding upthe tempo and creating pporting programmefor high-techenterpris- its supply chain its supply with 201 es to create a breakthrough competitive ad- competitive abreakthrough create to es and FoodProcessing Limited Liability iculties facing enterprisesiculties facing whenpromoting gh technologyproduction Group's intothe on ofsolar power plants, and report to the Theess inproductionandproductquality. wayssupport endeavouredVietnamese to garding the solar power project, it has pro- has project,it power the solar garding are participating in supply chainforthree insupply areparticipating lar power plant in central highlands prov- highlands incentral plant power lar cordedsignificant the in breakthrough sing plant in the province with input inthe input ma- with province plant sing ietnamese-businesses-in-producing-so- phases: the first having a capacity of 117 117 of capacity havinga phases: thefirst e investment and submit it to the govern- to it submit and investment e 35 35 per cent in to57 per cent at 2014 t ventures withfarmers andcooperatives the Dak Lak Forestry and Food Process- Food and Forestry Dak Lak the in new projects EaSup district inthecen- suggested thatthe Groupquickly deploy ee unanimously decided to set up a steer- a ee unanimouslyup decided toset in firms local of assisting theaim with tments inVietnam," Han Myoung Sup, tier-1vendorswillincrease to 29onesin msung's efforts to dramatically increase increase todramatically efforts msung's p, said that strategicp,said investment insci- e Group'ssolarpowerproject into the a strong affirmation for astrongaffirmation -invest-in-dak-lak vendors in total (23 (23 vendors intotal 10 April 2017 59 /66 10 April2017 BUSINESS work in Vietnamwork in 10 bestplacesto top Abbott ratedamong finance& business Vietnam funding scores seriesC Vietnamese startup Intellasia nam/109868.vnp http://en.vietnamplus.vn/abbott-rated-am all employeesintheworld, people management, social re as theca astopping well industry equipment list Companies of World'sMost by Admired ing place for its talents globally. For 32 years in arow, Abbotthas been honored inthe milest crucial Abbott's marks also year This Arabia. Saudi Ital ed Kingdom,France,Germany,Ireland, trusted andhighly appreciated byits employee ment, but also the first step towards a health a thefirst steptowards also ment, but not inpeopleis investing es. At Abbott, the corevalue appreciates company, Abbott es totheir own lives and others through wo maximise in orderto employeesbilities for have reaffirmedtheco recognitions These of2017. women" ecutive Association ofFemale Execut empowerwomen leadershiprecognisedby NAFE(TheNational atworkhavebeen is diversity importantly, More global competitiveness. products/services and mark and its total funding close to10millionUSD, founder and of Appota Do CEO The current round bringsAppota's valu ment. Partne two fundsareKorea Investment The the RepublicofKorea(RoK), according for its seri funding undisclosed raised fully best plac addition toitsrecognitionamong In at workandhome. find success work-weeks,job sharing,compressed telecommutingflextime and tohelp employees health care, wellnessandwork The comp Vietnam. across people 3,400 than proach todeveloplocaltalentstheirfull Ab Vietnam, in presence 20-year the During products and services. art healthcare technologiesand solutions of Vietna core ofitsbusiness,helping been the pe etnamese peopleVietnamese better than throughthepowerofhealth, the bestlife As a global healthcare comp best their life. solutions forVietnamesepeople,allowingthem of thequality improving in themselves icate a company believesthat the added that He of AbbottVietnam. workplace forourtalentstodevelopthemse strong demonstrationofourco a is This best No.1 and recognised be Vietnam to Abbott for honour "It's great in work to places global and by Anphabe ranking for2016 best 10 top the in No.9 Healthcare/Bio in terms of place towork placed been has Abbott 10/APR/2017 INTELLASIA |VNA Vietnam-based mobile providerplatform A 10/APR/2017 INTELLASIA |VNA including Vietnamese talents. Vietnamese including any with the commitment to help Vietnamese people live people live Vietnamese to help thecommitment any with ives), namingAbbottamong "Top 60 companies for ex- sponsibility, long-term investment value, quality of value, quality investment long-term sponsibility, highly appreciated at at Abbott. The company'seffortsto highlyappreciated /life benefits, as as we benefits, /life to the Dau Tu (Investment) newspaper. Dau Tu(Investment) to the mmitment and efforts in creating an ideal an increating ideal andefforts mmitment ation on track towards the50million USD only thefoundation ofsustainable develop- market research Nielsen. market company -Technology/Pharmaceuticalssector, inthe Abbott believes that no one understands Vi- nooneunderstands that believes Abbott mpany's commitmentincreating bestpossi- ong-top-10-best-places-to-work-in-viet- potential. Currently, their potentials and positively make chang- make positively and potentials their the world through Abbott's breakthrough theworldthrough Abbott's ppota announced on Apri es C round fromtwoinvestment fundsin C es ople. Andso,investingtalentslocal in has healthy workplace inspires people to ded- peopleto inspires workplace healthy y, Netherland, Spain aswellChinaand y, Netherland,Spain ones inbuildingahealthyandbest work- y community by y community lves,"Kuo, general saidDouglasmanager rk that Asaninnovation-driven matters. of people who can create and make chang- rs (KIP) and Mirae Asset Venturers (KIP)andMirae Invest- Asset mese people access easily tostate-of-the- Fortune, leading the Medical products & & products theMedical leading Fortune, bott has been taking a locally-focused ap- a locally-focused beentaking has bott healthcare, offering the better healthcarethe betterhealthcare, offering any offers acomprehensive offerings of tegory in almost all attributes regarding asNo.9Best place toworkinVietnam. es to workin Vietna s astheemployerofchoiceinUnit- toreachfortheirfullpotentialandlive ll as flexible work options such as suchas flexibleworkoptions ll building better career for building better Abbott employs more Abbott employs m, Abbottis also l 6 it had success- l 6it 10 April 2017 60 /66 10 April2017 BUSINESS Vietnam finance& business Vietnam foreign gamingfirms enriches market game Vietnamese Intellasia Vietnam isnot the strongest The figures showed thatVietnam is the larg among the most populargames. games were from SouthKorea and China. There wasno purely Vietnamese name revenue2015, the game market oftheIn tional versions)such as ClashofCl happened 10hottest ga thing with The same from China. co operation and forroyalties money big to pay mean which imports, were games of the All Vietnam. in made is none ofthem Legends), Vo LamTruyen Ky mobile (Legend of Swordman) and MUOrigin-VN, 2016, in games successful most 10 the Of ets. However, only a small part of thesum$30 onlyasmallpart However, crease of25 percent over theyear before. while the turnover had reache percent oftotal revenue. Bytheend ofth The domestic mobileonline game market ma marketed, while only70gameswere marketed in theyear before. brought mobile gamesalone in2015, Also and Taiwan. Korea Japan, South China, enue ofthegameindustryinyearreac game marketthe biggest in been Vietnam has the while film, gettheoily only Analysts,the Vietnamesegamemark comparing 10/APR/2017 INTELLASIA |VIETNAMNET with1.5 funds equity venture andprivate etnam through their brokerage housesandwe A and Mirae KIP both The holdinggroups of tors, suchas technology, mobile, finance and products. consumer comprizes 270 Mirae's portfolio Meanwhile, includin tech companies, leading world's the in investing in record track strong a had has KIP Appota, in investing to Prior and five million monthlyactive users. also It Vietnam. in platform Exchange Ad is oneofGoogle'sfourpartnersThe company Hanoi, HCM City, Indonesia andSingapore. pub mobile game three largest one ofthe As confidence toot expandwith Appota found knowledge ofthegaming market, social and Mirae will contribute their extensive fortif to capital much-needed the "Besides funding fromRoK-based funds. investment This round marks a first intermsof a tered fund,willjoinAppo direct KIP Park, Sang-Ho theround, Following forseries Ventures B in2014. and Fundand for seriesAin2012 from Payment Global Golden Gate Japan's GMO Earlier,mobile the platform provider re said. Tuan Anh 347154.vov http://english.vov.vn/economy/vietname AUM. theinvested companie while ment (AUM), ta's board ofdirectors. game industry intheregion. game industry d $300 million, for both PC and mobile games, an in- an games, mobile and PC both for million, $300 d nutrients nourishforeignfirms. an, CallofDutyandPokemon Go. her partsofAsia," Tuan Anh said. Vietnam-based technology startup securing ceived funding from including Lien MinhHuyenThoai (League of was $237 million. However, 80 percent of percent 80 million. However, was $237 e year, Vietnam had had 36 million gamers, se-startup-scores-series-c-funding- g Kakao, Naver and Super Evil Megacorp. Super Evil Kakao, Naverand g hed $237 million,rankin hed $237 and activenetwork, along with theirpro- y our platform and y ourplatform scale services,KIP our has 30 million local and international users local and has 30million billion USD in total intotal billion USD turnover turnover of millionwith170 games $120 s of the latter represent 350 billion USD represent 350 latter s ofthe s that Vietnamese game distributors had est game market in South East Asia, but market inSouthEast est game sset Venture Investment are present in in Vi- present are Investment Venture sset companies worldwide across various sec- across various worldwide companies 0 millionwent toViet lishers inVietnam, Appota has offices in mes on mobile, console andPC(interna- South East Asia since 2015. The total rev- Thetotal 2015. since EastAsia South de a whenbringing big leap in2016 62 in Asia to deploy the tech giant's Mobile Mobile the techgiant's to deploy Asia in alth management units.KIPmanages26 or ofinvestmentSeoul-headquar- atthe sts to foreign game firms, most of them them of most firms, game foreign to sts networkingandfinancialtech to help et withapotofbroth,sayVietnamese Vietnamese VNP-Group assets under manage- g sixth after g sixth in Asia, namese firms' pock- 10 April 2017 61 /66 10 April2017 BUSINESS Vietnam finance& business Vietnam April 8 midnight saleson Robins to run steeply Spain decline Tra to shipments fish Intellasia Revenue fromtra fish exports toSpainin dist largest retailer,stopped rope's Vietnam's exportoftrafish (pangasius)to 10/APR/2017 INTELLASIA |THE SAIGON TIMES firms.html http://www.vir.com.vn/vietnamese-game-market-enriches-foreign-gaming- itaire, also aproduct develo tions onAppStores. The list of 10 most In 2016, three by games developed Pine alsoreceiv In 2016, Khu Vuon May Tren in in March Francisco. 2017 San bile game,washonored Glob IMGA 13th atthe mo- Vietnamese in Paradise), Farm Garden: (Sky KhuVuon Tren May recently, Most dustry. can seesomebrightHowever, one partsin games. foreign distribute and import last the in But state. the from encouragement hopes onthedevelopment oftheindustryas Many yearsago, when Vietnam's game indu Point, JBL, SuperSports, Akemi, Travel Lemino, Vascara, Triumph, Vera, Lovell, iBasic, Kanebo, Brown, Bobbi er, cosmetic, accessoryandhousehold appliances' to 50 up tomers withthousandsofgifts and br This isaspecialpromotionprogramme to MallHCM in City'sDistrict 7. a.m.till 8 from9:30 April sales programmeon Robins departmentstore, a member ofthe 10/APR/2017 INTELLASIA |SAIGON TIMES vouchers worth VND100,000. vouchers worth bi shopping with whilecustomers VND50,000 For shopping bills worth fromVND700,000, prises haveno other choicebut to guarante Vo HungDung, vice president and general Carrefour's decision tostopimporting the fi gasius Association. tothesame peri million to $25.2 compared In the year to traexports mid-February, to Re hit. take a might fish etnamese tra VASEP generalthen Truong DinhHoe Secretary tributing Vietnam's tra fish in mation about Vietnam's pangasiu polluted. In January aSpanish TV station ese trafishsector, claiming that there is hi and Spainsince2009. The Europeanmedia Vietnamese pangasius andwhit been aggrav VASEP saidthesituationhad meaning themonthlyaverageexport to $1 amounted market this Tra exportsto year-on-yearpercent meted 19.9 toaround $6.1 million. In the twomonthsof first year, tra this and Producers (VASEP). year-on-year,th of to areport according ly.html http://english.thesaigontimes.vn/53346/Tr ped by Pine Entertainment. Spain and elsewhere inEurope. e-flesh fish of some European countries like France France like countries European ofsome fish e-flesh Jean Perry, Komonoya, andSanrio. s farmings industry ledbut it Carrefour toceasedis- ributing the year. this ributing fish early cent data shows that has become true. revenue reached over $10million. fish shipments to the European nation plum- the European nation to fish shipments Entertainment were amongtop50nomina- interesting games on App Store included Pol- included onAppStore games interesting e Vietnam Association of Seafood ExportersVietnam AssociationofSeafood e ed IMGASEApeople's choiceaward. 21.8 million in 2008 and $122 million in 2009, 2009, million in and$122 in 2008 million 21.8 February plunged ast Central Group Vietnam, Spain hasfallen sharply since Carrefour, Eu- aired video footage containing wrong infor- wrongaired videofootagecontaining a-fish-shipments-to- gh risk of food hygiene andfishfarmsare the European Union (EU) fell 17.6 percent percent 17.6 fell (EU) Union European the ated by the growing competitionbetween od last year, according to the Vietnam Pan- the Vietnam according to year, od last the grey ofVietnam's game panorama in- percent discounts on hundreds of fashion,discounts onhundreds of percent e high quality to wi sh from Vietnam is one of the reasons, said the reasons, of one is sh fromVietnam has reported inaccuratelyon the Vietnam- Vietnamhasgood engineers and received secretary of the association. Localenter- secretary ofthe customers will receive vouchers worth vouchers customers will receive ing a unique shopping experience to cus- experience shopping a unique ing stry tookshape,an 10 years, whatVietnamhasdone is just midnight at its property in the Crescent in the property atits midnight lls worth from VND1.2 million will get al, an important event which took place al, animportanteventwhich brands like TheBody Shop, Yves Roch- told theDaily thatexport sales of Vi- Spain-decline-steep- n backEUconsumers. alysts once put high aggering 46.7percent will runa midnight 10 April 2017 62 /66 10 April2017 BUSINESS Vietnam finance& business Vietnam lobsters, foreignfruits buy American Affluent Vietnamese Intellasia However, American lobsters arecheaperthan However, American weighing 1-2kilo. per kilo. Vietnameseprefer costs VND700,000 One kilo of freshlobsteris priced at VND1 tributingimports. luxury tional markets and mustbeboughtfromon Eating American lobstersisnow in vogue 10/APR/2017 INTELLASIA |VIETNAMNET http://english.vov.vn/economy/robins-to-ru joined night sales programme. has Robins time fourth the is This Galaxy J7 primeG610. es include TVSamsung40", Bluetooth JBL 9 p.m. 7p.m.to 5 p.m.to7p.m.,from from VND1.2 million during the gold Furthermore, Robinsalsohos membership card holders from VND1.2 (each can million customer The One Card's holders willbe given Robi can-lobsters--foreign-fruits.html http://english.vietnamnet.vn/fms/busine US$1=VND22,000 strict regulationsduring worry aboutunsafeplantprotectionchemicals, forimpo they accept pay to why asked When domestic market. theproductshaveto andNewZealand, Korea While Vietnam's fruits are popular among tralia, New Zealand, Japan and South Korea. other countrieslike Aus- from the remainder was fromChina,with while 25percent imported ofVietnam's In 2016, 45 percent day. million per $2.9 year,or this 15 March milliononfruit to $194 Vietnam spent up pric pomegranate', called 'giant mo times perkilo,6-10 VND360,000-550,000 Taiwanese custard-apple is twice as large asVietnam's product, priced at thoughtheyare sweet potatoes, more more China imported In 2016, times increase of200 an in2016 spent VND7 Vietnamese and Vietnam. However, lobster hasbecome hotinAsian perkilo. or VND90,000 $2.25/pound, sale pricewasjust American lobsterwasevencheaper thansa perkilo. million Vietnamese also like Taiwan foreach. VND500,000 than 100 pomelos each day. Each pomelo weighs The ownerofanimport fruit shopinDong Da kilo. per VND200,000-260,000 are expensiveat products prefer thepomelo However, Vietnamesenow lo. Allofthemare Vietnamese spec Xanh (green-s and BuoiDa VND30,000-70,000 Doan Hungpomelois sold at VND20,0 the previous high of about $90.2 mi $90.2 high ofabout previous the if compared with2010-2016. if compared farming and preservation. farming will get canvasbags,not will ese custard-apple, Egyptian custard-apple, ese ts a lucky drawforshoppe alucky ts than $108 million inlobsters than $108 million ed at VND240,000-400,000 perkilo. ed atVND240,000-400,000 en hours from 10 a.m. to 12 p.m., from2p.m.to4p.m., en hoursfrom10a.m. p.m., to 12 ialties favoured all over the world. over the all favoured ialties llion in according toCNBC. 2014, expensivethan Vietnameseproducts. 00-30,000 perkilo,whileDienpomelo at 00-30,000 hands with theCrescent Mallto holdthemid- ss/175879/affluent-vietnamese-buy-ameri- and vegetable imports between January and and between January imports vegetable and receive amaximumoftwopillows).New and from 10 p.m. to 12 p.m. to 10 andfrom vegetables and fruits were fromThailand, in Vietnam. cannotbe They found at tradi- ns' pillows for any shopping bills worth shopping bills pillows forany ns' -1.3 andone kilomillion of frozen lobster speakers, iPadMini232G,and speakers, Samsung choosy consumers in the US, Japan, South US, Japan,choosy consumersinthe countries, including China, South Korea South China, including countries, usage inlate2010whenthelobster whole- n-midnight-sales-online shops and shops specialising indis- and specialising shops line shops re expensive. Egyptian pomegranate re expensive.Egyptianpomegranate is two kilos, sopeoplehavetopay no less kin pomelo) at VND50,000-90,000 perki- VND50,000-90,000 kin pomelo)at rts, housewives saidthere isno need to district inHanoisaidshe cansell nearly struggle to cement their positions in the in struggletocementtheirpositions Vietnamese lobster, fromtheUS and Australia,though the 00 billion00 toimportlobsters, American fresh tofrozen, and prefer big lobsters becauseforeign farmers havetofollow ebooks or Robinshelmets. rs theirbills from with pomegranate pomegranate and Japanese from America, surpassing surpassing fromAmerica, april-8-347098.vov a.m. Interesting priz- sold atVND1.2-1.9 10 April 2017 63 /66 10 April2017 BUSINESS mart international travel snapped up at packages Tour finance& business Vietnam City direct servicesto HCM Jetstar upbeat about Intellasia travel-mart.html http://english.vietnamnet.vn/fms/travel/ outbound tours and arou visi 58,000 over attracted 2016 Hanoi VITM SportTourism. try ofCulture, and Hanoi People's Committee an VITM 2017 is organised by th isorganised 2017 VITM tourism development inthecountry. arts performances,traditional conference Apart frompresentations on several tourism than normal. Nang route, withroundtrip in the queue to buy a promotionticket offered residentLocal Vi Hoang Long told Nguyen Hollywood bl of thethe principalfootage of toa popularity tour's the She attributed the shesaid. with a discount,sold out 20 in percent 10minutes, first Long-Sun -Ha Hanoi thecompany's In fact, Anh. Thi Ngoc attr an at packages, offeringthem tour 300 HCM City-based On theveryfirstday, ing offered travel andairlines by the companies at fair. Over low-costair tickets 150,000 and 20,000 chair of the organising committee. build networks,saidVuTheBinh, vicePres Agents (ASTA) would openup opportunit Europe and Asean, thepresence of travelag Besides the participation of firms from trad Vietnam." ye this which focuses tourism exchangeevent, visitorsare expected toatte Around 60,000 and otherareparticipatin across Vietnam 25 many enterprisesAs tourism 650 as and said. capital This wouldupholdthe alism inorganising theevent, asalsomore Pala at the FriendshipCultural 2017 Hanoi Addressing the opening ceremony of the Vi Ai said. balised, competitive market, Promotion has become more crucialthan ever for tourism development in a glo- 10/APR/2017 INTELLASIA |VNA only Australian carrier to fl only Australiancarrierto HCM City pressin conferenceRombeek tolda from Maygivenincreasing air traveldema direct services which Jetsta Jetstar Group's global head ofsales Paul 10/APR/2017 INTELLASIA |THE SAIGON TIMES Australia. "In the last 12 theremonths, has He stressed thenewflights will alsostimulate inboundtourism,business and trade to we launched since promising been extremely this yearanddemandfrom Vietnam has been Ticket sales for the new flights usingBoeing ney fromMay11. flights fromMelbournetoHCM Cityfrom Ma nd 30,000 airtickets. nd 30,000 y direct between Australia an y direct between Australia r willconductfromSydney s costing just 1 million VND (44 USD), 40 percent percent cheaper 40 USD), (44 1million VND just s costing vice ministerofCulture, e Vietnam TourismAssociation, d Vietnam National Administ city's status asanational city's status dded curiosity aboutthe location where some Rombeek has expressed optimism about the about has expressedoptimism Rombeek 176163/tour-packages-snapped-up-at-int-l- management andpromotion agencies from s andworkshops onkey issues related to active discount, saidsalesexecutive Nguyen efficient mobilisation Saigontourist Travel ServiceCosoldabout Saigontourist nd the travel annual country's largest and ies for Vietnamese tourism businesses to businesses tourism forVietnamese ies ce onApril6, he notedgreater profession- nd and expandingAustralia-Vietnam ties. tors who bought over 15,000 domestic and domestic over15,000 tors whobought been a 21 percent from a21 percent been increase invisitors itional markets likeJapan,Korea,Western ident of the Vietnam Tourism Association,the Vietnam Tourism ident of etnam News that he had waited from 7am etnam Newsthathehadwaitedfrom ockbluster, Kong: Skull Island, wasfilmed. ockbluster, Kong:Skull derworld Park tour, whichwas offered etnam International Tr package tours at reasonable pricesarebe- at package tours ents from the AmericanSocietyof Travel 787 Dreamliner jetliners kicked off early off 787 Dreamlinerjetlinerskicked g in the fair that will close on April 9. on April that willclose the fair g in destinations, VITM 2017 also includes includes also 2017 VITM destinations, ticket sales in January," Rombeek said. higher thananticipated. "Response has y 10, and four services a week from Syd- y 10,andfourservicesaweek from by Vietnam by Vietnam Airlines fo ar on theme: "Hanoi -- Destination of on April 5 that Jetstar will become the become the will Jetstar that 5 April on Sports and TourismHuynhVinh and Melbourne to HCM City and regional tourism hub, Ai d Vietnam withthree weekly ration of Tourism, Minis- ration ofTourism, incollaborationwith the of social resources. avel Mart (VITM) r its Hanoi -- Da r itsHanoi 10 April 2017 64 /66 10 April2017 BUSINESS Vietnam finance& business Vietnam Residence this month launch The ZEN Gamuda Landto Intellasia Simultaneously, anoutdoor pl fifth floor, in addition tothespaciousinfinitypool. especiallyeveryone, youngsters,akids' pool lifestyle the best providing towards Working cial vantagepoint and rela lows residentsand gueststocapturebe the the highlights of one of The infinitypool, purposes. it offersresidentshigh-quali therelationsh oftightening the aim With decades. all oftheelementsthat denceencompasses tobe the real one of es hottest Anticipated district. Mai ward in Hanoi'sHoang introduced Gardens thismonthatGamuda Township, at Km 4.4Phap Van, Yen So The ZEN Residence, Gamuda Land's third luxu shortly. Hoang Ma project inHanoi's apartment Luxury 10/APR/2017 INTELLASIA |VNECONOMIC TIMES betweenflights willhelpgrowthelinks ou already strong centers willfurtherboostour "The seven new weekly Jetsta ity. Australians, and that promoting international investment and tourism is his top prior- nam isquickly becoming one of the mostpo Australia's Assistant minister for Trade, To Rombeek. Faresofthe startfromA$159. flights Jetstarcommitted is tothenew servicesconfident and in their success,according to through theseflights." the people ofViet and economy ment, the demand for holidays to Vietnam. "We unders Rombeek said Jetstar expects its low fares an year grew 3.4percent Offi according theGeneralStatistical 2015, to Australian 320,680 around attracted Vietnam Asean country 10million. surpassing ner airlines of Jetstar. Statistics showed last year saw international arrivals in this mand isrisingasseen onth fastest-is oneofthe Vietnam fares on the route." Vietnam toAustraliaand weexpect tosee In addition to its overall master plan and master plan itsoverall addition to In sess. space areamongthespecialpos- featuresofTheZENResidence thatfewotherprojects City.html http://english.thesaigontimes.vn/53349/Jets and fruits, amongothers. and parts,furn electronic products wear, Vietnam sold crude oil, ca surged18.3perc imports total, Vietnam's exports toAustraliafell1. AustraliaVietnam and st Data of Vietnam's generalDepartmentof City. toHCM from Australia also attended the press conference onthe laun year-on-year to95,160. ent to$2.39billion. ood at$5.26 billionlastyear, up meras and components, steel x among luscious greenery. x e HCMCity-Singapore-Australia flights operated bypart- ty and versatile facilities fo facilities versatile ty and growing aviation markets in the world and de- and inthe air markets travel world aviation growing r flights connecting Vietnam r flightsconnecting ayground, aluxuriousgym, ip between family membersandneighbours, ip betweenfamily The ZEN Residence's landscape concept, al- Customsshowed two-waytrade between detaileddesign,emphasises GamudaLand nam and we are proud to supportthem nam andwe areproud 7 percent year-on-year 7 percentyear-on-year billion to $2.87 and tate productsinthe The ZENResi- market, r businessesr andourpe that grow withtheintroduction of our low have madeGamudaLandasuccess inpast autiful scenery of the township from a spe- the townshipfroma of autiful scenery tar-upbeat-about-direct-services-to-HCM tar-upbeat-about-direct-services-to-HCM urism andInvestment Keith Pitt saidViet- pular destinations in Southeast Asia for for Asia inSoutheast pular destinations iture; and imported coal, minerals, cotton imported coal,iture; and bilateral relationship. In particular, these these Inparticular, relationship. bilateral ce. The number inthefirst quarter ofthis has been wovenintothedesign of the d direct flightsdirect willd more generate even tand tourism is a priority for the govern- for a priority is tand tourism for residents and to ensuresafety of theand to for residents visitors last year, up 5.6 percent over percent 5.6 year, up visitors last ch of Jetstar's low-co ry apartment project,willbe officially ry apartment i district to be officially introduced to be i district r both community and private private and both community r products, apparel and foot- 6.5 percent from 2015. Of the Of from2015. 6.5percent and Australia's commercial and 3,000 sq sq and m ofretail 3,000 ople" saidPitt,who st directservices 10 April 2017 65 /66 10 April2017 BUSINESS Vietnam finance& business Vietnam Intellasia End dence-this-month http://vneconomictimes.com/article/proper Central, GamudaPlaza Gamuda Cityincludesfive key component its first project, the 500 ha Gamuda City in City Gamuda ha the500 project, first its inMalaysia companies infrastructure largest realunde corporation estateGamuda Land,a vicinity. be within the all found asa such and modernfacilities amenities, has become a hub prestigious fo community to providea desire anideallifestyle With &Amenities","Healthy munity Li Vietnam, Gamuda Gardens is Vietnam, Gamuda As the and LilyHomes. i.e. Camelia Homes The architecture is in harmony with the desi the with inharmony is The architecture The elevator system is monitored mi which canbe opened by anumberof me unit atTheZEN Residence is equipped with With brandnew technologicaladvances to township aswell The at ZEN Residence. the importance andconstantimprovement , andGamuda Gardens. built onthefour core pillar festyle", and "Safety & & Security". festyle", and"Safety nimise access and ensure security. thods: key, accesscard,or password. to an integrated township, Gamuda Gardens Gardens Gamuda township, anintegrated to resort-style clubhouseandtenniscourts can Hanoi. With total invest total With Hanoi. s: Yen SoPark, Gamuda Lakes, Gamuda ty/gamuda-land-to-la meet increasing customer demand, each of security systems first township project of Gamuda Land in Gamuda Land of first townshipproject r Hanoians. Lusciousgreenery, high-end gn ofotherprojects a smart digital lock for door, lock the digital main a smart . Itmarked itspresence in with Vietnam r Gamuda Berhad Malaysia, is one of the s of"DesignQuality","Com- at Gamuda Gardens at Gamuda at GamudaGardens, unch-the-zen-resi- ment of$5billion, 10 April 2017 66 /66 10 April2017