190617Intellasia Finance Vietn
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finance & business news 19 June 2017 FINANCE . .1 Vietnam, Indonesia boost economic, energy cooperation 38 Reference exchange rate up 7 VND at week's beginning 1 Central Highlands localities court RoK investments 38 Greenback changes little despite Fed rate hike 2 Hai Duong province calls for investment in agriculture 39 Credit support programme benefits 4,000 firms in HCM City 2 Ben Tre: New cooperatives to form agricultural value chains 39 As bank share prices soar, investors make more deposits at banks 3 BIZ NEWS . 40 Online banking in Vietnam is safe, secure and convenient 4 Business Briefs Jun 19, 2017 40 VN banks look to tap into big data 5 Foreigners spur transactions 40 Zero-dong banks promote themselves as fully state-owned Stocks rise on bargain-hunting 41 banks to attract customers 6 Derivatives market expectations downplayed 42 Card users are unreasonably charged 6 State to retain 51pct stake in Becamex 43 City banks create $5b link-up programme 8 Vietjet Air takes first step to list shares in New York 43 TPBank launches eBank BIZ 3.0 8 PNJ to sell over 9.8mn shares to open 40 stores 44 Sacombank's AGM to be officially organised on June 30 9 KIDO completes industry switch 45 PVcomBank registers to sell 12.5m PVI-coded shares 9 KIDO Corporation plans big for 2017 45 300 million KLB-coded shares to be traded on Upcom on Vietnam 4th in Asia-Pacific for online shopping 46 June 29 at 10,000 dong each 9 Users allowed to transfer Vietnamese domain name 46 Rocky road 10 Expressway construction in Vietnam costlier than elsewhere 47 Bao Viet opens first financial supermarket 12 HCM City to name and shame tax-evading Facebook shop owners 48 Vietnam ranks 47th in Global Innovation Index 13 Microsoft urges local firms to shift to cloud computing 48 Vietnam looks to accelerate reform 13 HCM City, Microsoft step up cooperation 49 Unsatisfactory GDP leaves Vietnam in middle-income trap 14 Private investors needed for wastewater treatment projects 49 Annual report gives VN macroeconomic scenarios 15 PM orders halt to golf course construction at Tan Son Nhat Experts: Vietnam yet to take full advantage of FDI 15 airport 50 HCM City lures 2.15 billion USD in FDI in six months 16 Nha Trang residents tricked into buying mortgaged villas 50 Hi-tech exports soar 80pct in H1 17 River bus route in service next month 51 VN eyes export boost through Chinese border 17 Airport overload puts airlines in trouble 51 Australia agrees to re-import processed shrimps from Vietnam 18 Bamboo Airlines has yet to produce financial confirmation US refuses shrimp entry from Vietnam for banned antibiotics 18 statement 52 US has trade deficits with most Asian trade partners 19 CAAV denies Viet Bamboo rumour 52 Rice prices increase in both domestic, foreign markets 19 Vietnam Airlines to spend $96mn on aircraft this year 53 Vietnam's aquatic product growth likely to be challenged in 2017 20 HK eyes $2bn entertainment project in VN 54 Govt unable to spend on investment: deputy PM 21 Japanese retailer Aeon to launch English version of Low disbursements blamed for growth slowdown 21 AeonEshop.com 54 Minimum wage increases continue to fall far short 22 FPT reportedly selling distribution business 55 Land pooling policies urged 23 First 7-Eleven store inaugurated in town 55 HCM City to seek NA endorsement for special financing Time to refresh 56 mechanism 24 Firms reject clean production initiative 57 VN targets parity between FDI, domestic firms 25 La Casta project opens at VND47 million per square metre 57 Promoting SMEs as a driving force for economic growth 26 HP launches next-generation printers in Vietnam 58 Farmers blamed as they suffer falling prices 27 Beautiful beach faces destruction in Hoi An 59 OVs scientists propose measures to boost IC industry 28 CBRE Vietnam wins three 1st prizes at Asia Pacific E-commerce deemed lucrative market in Vietnam 28 Property Awards 59 Boosting bird nest industry in Vietnam 29 VN start-up wins Mekong innovation grant 60 Green light turned on for private economic groups 30 Workshop promotes digitalisation in SMEs 61 Midterm VBF: Problems persist for FDI enterprises 31 Lychee week kicks off in Hanoi 61 Prospects for the aviation industry 32 Nghe An: Cua Lo Trade and Tourism Fair opens 62 Grass is greener 32 Expo trio to promote localisation in Vietnamese supporting Competition among retail giants more intense after 7- industries 62 Eleven's market entry 34 European Art of Living exhibition opens 63 Small rice export businesses to get support from new decree 36 International workshop discusses food safety for export 64 Northern region holds major aquaculture potential: conference 36 Vietnam ETE & Enertech Expo 2017 set to open 64 Localisation of Japanese enterprises in Vietnam is only half of Premier Village Danang Resort Has New Executive Chef 65 China's 37 Russia willing to cooperate with VN during Apec Year 37 Intellasia Tel: +844 2213 2244 No. 21, lane 173/63/17, Ngoc Ha Ward, Ba Dinh Dist, Hanoi Fax: +844 3759 2034 © All Rights Reserved Email: [email protected] Websites: www.Intellasia.Net www.TriTueAChau.com Vietnam finance & business 19 June 2017 FINANCE FINANCE Reference exchange 19/JUN/2017 INTELLASIA| VNA rate up 7 VND at The daily reference VND/USD rate on the first day of the week (June 19) was set at week's beginning 22,417 VND per USD, up 7 VND from the end of last week. With the current trading band of +/-3 percent, the ceiling rate applied for commercial banks during the day is 23,089 VND and the floor rate 21,745 VND per USD. The opening hour rates listed at commercial banks saw slight fluctuations. While Vietcombank kept both rates unchanged from June 16 at 22,655 VND (buying) and 22,725 VND (selling), BIDV raised both rates by 5 VND to 22,655 VND (buying) and 22,725 VND (selling). Techcombank maintained its buying rate at 22,630 VND, the same as on June 16, but reduced its selling rate by 5 VND to 22,735 VND per USD. http://en.vietnamplus.vn/reference-exchange-rate-up-7-vnd-at-weeks-beginning/ 113511.vnp Greenback changes 19/JUN/2017 INTELLASIA| THE SAIGON TIMES FINANCE little despite Fed rate Although the US Federal Reserve (Fed) raised rates by 25 basis points, the dong-US hike dollar exchange rate saw little change, with the greenback firmer against the domestic currency before quickly stabilising given supportive macro factors. On Wednesday, strong foreign currency buying sent the dollar up on the local market as people were expecting the Fed's rate hike decision and a subsequent response by the State Bank of Vietnam. However, the dollar declined shortly after the decision was made on June 15. The inter-bank rate was VND22,695 per dollar in the morning, down VND8 against Wednesday. Local banks quoted the dollar at VND22,725 per dollar, dropping VND10 versus the previous day, before revising it down to VND22,690-22,695 in the after- noon. On the informal market, the dollar was sold at VND22,700, which was unchanged from Wednesday afternoon. Meanwhile, the central bank cut the central rate by VND3 to VND22,405 per dollar, al- lowing banks to trade the dollar in a range of VND21,718 and VND23,801. According to bankers, the Fed decision caused little change to the dollar price as the nation has had huge liquidity in foreign currency and dong. Besides, the domestic cur- rency is backed by some macro-economic factors. Before the Fed meeting, expectations for the Fed rate rise and the State Bank of Viet- nam's response, coupled with speculative factors, had led banks to increase dollar buy- ing. Banks had maintained a strong buying position for two days. However, after the Fed raised rates on June 15, the dollar price was seen stabilising thanks to large foreign in- vestments into Vietnam and big foreign currency holdings at big companies and banks, a foreign currency trading expert at a local bank told the Daily. According to the expert, the dollar appreciation was mainly driven by speculative fac- tors rather than real market demand. Therefore, the macro-economic factors are still supporting the dong-dollar exchange rate stability. Due to speculation, some banks wanted to sell foreign currency following the Fed rate hike, so the dollar might decline in the next few days, even on the informal market. Dollar lending rates were almost unchanged on the inter-bank market, staying at 2.2 percent per year for the overnight tenor, 2.5 percent for one week, 3.6 percent for one month and 2 percent for three months. On the global market, the dollar also weakened slightly against other currencies. Meanwhile, dong lending rates on the inter-bank market dropped, having gone up slightly by 10-20 basis points at tenors from overnight to three weeks two days ago. The lending rate for the overnight term was 2.13 percent a year, 2.43 percent for one week, 2.93 percent for two weeks and 3.43 percent for one month. http://english.thesaigontimes.vn/54540/Greenback-changes-little-despite-Fed-rate- hike.html Intellasia 19 June 2017 2 / 65 Vietnam finance & business 19 June 2017 Credit support 19/JUN/2017 INTELLASIA| VNA programme benefits More than 4,000 enterprises in HCM City were provided with credit loans worth over 4,000 firms in HCM 124.3 trillion VND (nearly 5.47 billion USD) in the first five months of this year under City a cooperation programme on credit support between businesses and commercial banks.