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261217Intellasia Finance Vietn finance & business news 26 December FINANCE . 1 Japanese, Thai goods reach every corner of Vietnamese market 36 Reference exchange rate continues to go down 1 Ever upwards 36 Foreign exchange reserve sets a new record 1 Quang Ninh needs more luxury tourism products 39 Remittance to HCM City to top $5.2bn in 2017: cbank 2 Infrastructure lifts south HCM City property market 40 Cash payments targeted at below 10pct in 2020 2 Curiosity piqued 41 Bond market gets a promising start 3 Denmark and Vietnam sign energy development Is Bitcoin a game for desperadoes? 4 partnership for 2017-2020 43 Consumer credit: high interest rate is a 'double-edged sword' 5 BIZ NEWS. 43 SBV urged to amend regulations to back real estate market 6 Business Briefs 26 December, 2017 43 Many banks complete whole year profit target early 7 VN Index gains lightly, signaling more volatility 44 Higher profits make it easier for banks to raise capital 8 Shares mixed, market cap hits 74.6pct GDP 45 E-banking in Vietnam is still treading water 8 VN shares up slightly on financial, energy stocks 46 Banks pursue sustainable growth 9 Stocks set to rise further in last week of 2017 46 SBV wants ATMs to run efficiently before Tet 10 Saigonres to debut on HOSE 47 Management of consumer finance companies to be tightened 10 Becamex IDC to auction leftover IPO shares 47 Pouring capital into 'king' stocks 11 PV Power to launch IPO in January 2018 48 Banking stocks to drive market higher, experts say 12 Song Da Corporation reports pathetic IPO 49 NAPAS collaborates with DFS in card switching 13 VNPT to auction shares in five companies 49 Agricultural insurance guarantees productivity 13 ThaiBev submits official report on Sabeco acquisition 50 SHB sells brokerage arm SHBS 14 Dung Quat IPO expected to bring in $176 million 51 Foreign funds flock to grab HDBank stocks 14 Certain fruits and vegetables at home still unsafe 52 New FDI approvals highest since 2009 15 VN bans dirty diesel cars starting January 1 52 Treasury reports strong fiscal year 16 Vietnam, China set up 'golden' logistics corridor 53 Seafood exports grow sharply 17 Biotechnological products seek markets 53 Rice exports beat low expectations in 2017 18 U.S is the most visited country by Vietnamese people in 2017 53 Garment-textile export earnings likely to hit 31 billion USD 19 Sabeco sale to fund infrastructure 54 Dong Nai to export more pepper to Europe in 2018 19 Fitting together 54 Pepper producers warned of difficult period ahead 19 More than $500mn in loans provided via Tima Financial 56 Vietnamese steel makers in battle against steep US import Japan's Mitsubishi Group invests in HCM City's green property 57 duties 20 Ninh Thuan: Work begins on hi-tech animal feed production plant 57 Hanoi's industry sector targets 8pct growth for 2018 21 Can Tho builds industrial park for Japanese investors 57 Switzerland imports over 50pct shrimp from VN 22 VinMart+ opens 15 stores in Vung Tau 58 Vietnamese-Korean trade celebrates quarter century milestone 22 Ninh Thuan: Feed processing factory construction kicks off 58 State divests capital from industrial parks 23 Vinacomin targets 36 million tonnes of coal consumption in 2018 59 ICT revenues exceed VND2,100 trillion 25 BSR targets over VND3.47 trillion profit next year 59 530 SOEs equitised in the last five years 26 Mobile World nears profit goal 60 National Strategy on Green Growth integrated into local VNPT wants to sell finance subsidiary for VND500b 60 development 26 Jeju Air to open route to Da Nang in early 2018 61 Forthcoming Labour Code amendments help cut business costs 27 FLC to invest 1.5 billion USD in hi-tech farm 61 MoIT announces next batch of hot M&A opportunities 27 Deloitte Vietnam again among Most Sustainable Businesses 62 Condotel oversupply due to massive investment 28 Uber threatens to take tax department to court 62 MA in real estate sector to increase in 2018 29 Vietnamese restaurateur makes 'pho'-nomenal comeback 63 A modest end to 2017 transactions sets up big for 2018 29 New PetroVietnam chair named 63 Foreign firms taking control of Vietnamese M&A market 31 Da Lat market hi-tech farming models, produce 64 Vietnam tourism lags behind other Asean nations 32 Products for smart city, 4IR win ICT awards 64 Shoe industry gears up to go hi-tech 33 International fashion fair kicks off in Hanoi 64 Vietnam instant noodle market controlled by three big brands 34 Vietnamese conglomerates fall into Thai hands 35 FINANCE FINANCE Reference exchange 26/DEC/2017 INTELLASIA| VNA rate continues to go The State Bank of Vietnam continued to adjust the daily reference exchange rate down for down the second day in a row on December 26, to 22,425 VND/USD, a reduction of 5 VND from Intellasia the previous day. Tel: +844 2213 2244 No. 21, lane 173/63/17, Ngoc Ha Ward, Ba Dinh Dist, Hanoi Fax: +844 3759 2034 © All Rights Reserved Email: [email protected] Websites: www.Intellasia.Net www.TriTueAChau.com Vietnam finance & business 26 December With the current trading band of/-3 percent, the ceiling rate applied to commercial banks during the day is 23,088 VND and the floor rate 21,752 VND/USD. The opening hour rates at major commercial banks saw only slight changes. Vietinbank adjusted both rates down by 5 VND to 22,675 VND/USD (buying) and 22,745 VND/USD (selling). Meanwhile, the rates remained the same at Vietcombank and BIDV. Vietcombank listed the buying rate at 22,675 VND/USD and selling rate at 22,745 VND/USD, unchanged from December 25. The greenback is being bought at 22,680 VND and sold at 22,750 VND/USD, the same as on the previous day. https://en.vietnamplus.vn/reference-exchange-rate-continues-to-go-down/ 123895.vnp Foreign exchange 26/DEC/2017 INTELLASIA| TIEN PHONG FINANCE reserve sets a new On the evening of December 21, at the 26th anniversary of the establishment of Sai Gon record Thuong Tin Joint Stock Commercial Bank, Governor of the State Bank of Vietnam (SBV) Le Minh Hung said Vietnam's foreign exchange reserve reached nearly $48 bil- lion, the highest level ever. This is a very impressive figure that makes great contribution to the stabilisation of the macro economy, building trust for the community of investors, especially foreign in- vestors, in the economy as well as the policy of the government and the banking sys- tem. Reportedly, from the beginning of the year to the end of December 8, SBV bought an- other $7 billion. Also at the ceremony, Le Minh Hung added that the banking sector has carried out its mission of providing credit in a safe and healthy way to the economy to support growth. The governor asserted that in 2017, the banking sector adjusted monetary policy to achieve macro-control, keep inflation low, operate policy tools to maintain stable li- quidity, stabilise interest rates and reduce lending rates, bringing credit to the priority areas of production and business. Besides, the whole system including Sacombank made efforts to restructure, handle bad debt, and apply international standards in operation strongly. Remittance to HCM 26/DEC/2017 INTELLASIA| VNA City to top $5.2bn in There has been a steady rise in inward remittances over the final months of 2017 2017: cbank HCM City is forecast to receive a total inward remittance of around $5.2 billion in 2017, according to reports by the local branch of the State Bank of Vietnam. This translates to an expected rise of 4.5 percent from 2016, said Nguyen Hoang Minh, deputy director of the central bank's HCM City branch. As 2017 approaches its end, the flow of inward remittances to the southern hub has surged roughly 1.5 times compared to the earlier months of the year, Minh said. Between January and September, the city received $375-400 million per month in re- mittances on average. This number spiked to $600 million in October and topped $650 million in November, Minh cited statistics acquired by the central bank. Over the January-November period of 2017, a total of $4.55 billion in inward remit- tance flowed into HCM City. If the trend is to persist, the city is expected to receive at least $650 million in remittanc- es in December, putting the end of the year total at around $5.2 billion. Over 60 percent of HCM City-bound remittances come from the US, while Europe is the second-largest source, at over 19 percent. According to reports by the local branch of the State Bank of Vietnam, 72 percent of the remittances were spent on production and ventures, while 22 percent were poured into real estate. The remaining six percent were used for personal purposes. Intellasia 26 December 2017 2 / 65 Vietnam finance & business 26 December As the State Bank of Vietnam continues to regulate zero-percent interest rates on US dollar savings for both individual and corporate clients as an anti-dollarisation effort, many recipients of remittances now exchange the dollar for the dong to deposit for bet- ter rates, Minh pointed out. https://tuoitrenews.vn/news/business/20171224/remittance-to-ho-chi-minh-city-to- top-52bn-in-2017-cbank/43295.html Cash payments 26/DEC/2017 INTELLASIA| THE SAIGON TIMES targeted at below The proportion of cash payments in all transactions is to be brought down to below 10 10pct in 2020 percent as per the non-cash payment scheme towards 2020 announced by the govern- ment, Thanh Nien newspaper reports.
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