021017Intellasia Finance Vietnam - hkbav.org Kien Giang moves to develop supporting industry 35...

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Transcript of 021017Intellasia Finance Vietnam - hkbav.org Kien Giang moves to develop supporting industry 35...

  • 2 October 2017

    finance & business news

    FINANCE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Reference exchange rate goes down by 2 VND at week's

    beginning 2 HCM City credit growth reaches 13.5pct in 9 months 2 Banks face charter capital difficulties 2 Banks forecasted to have spectacular recovery in 2017 3 Banking risks and the rule on 'no pocket' workwear 5 Startup businesses still thirsty for capital 6 Consumer finance market underdeveloped 7 Vietnam Holding Limited adds VPB shares to its portfolio 7 Singapore bank licensed to set up subsidiary 8 Sacombank thrives in the reign of new chair 8 HDBank wins Asiamoney award 9 Sacombank additionally sells 2.580 trillion dong bad debts

    to VAMC 10 Sacombank Laos opens branch in Savannakhet province 10 FE CREDIT a double winner at CEPI Asia Awards 11 Lotte eyes Vietnamese credit card firm 11 Ethnic women to access formal banking services 12 OceanBank trials end in death sentence 13 Vietnam-EU Free Trade Agreement ratification expedited 15 GDP target achievable, but risks building 15 Vietnam economy grows, boosted by exports 16 Hanoi: Consumer price index rises over 3pct 17 HCM City's CPI rises 0.9pct in September 17 ADB applauds Vietnam on reducing deficit 18 Hanoi on track to fulfil annual revenue target 19 FDI grows 34pct from last year 19 Vegetable, fruit exports estimated at 2.64 billion USD 20 VN strives for chicken meat export to EU 20 EU becomes Vietnam's top shrimp importer 21 US approves star apple fruit imports from Vietnam 21 VN to reach $70b trade with S Korea 22 Vietnam, China seek measures to balance trade 23 Trade defence investigations: Ministry discusses experiences 23 Ministry relaxes requirements for strategic investors in

    equitised SOEs 24 Ministry's historic move eliminates hundreds of business

    prerequisites 24 PM holds policy dialogue with leading private firms 25 Industry, trade ministry affirms no beer stamping policy 26 Hai Phong attracts over $870 million of FDI in nine months 26 VND94.5 trillion of capital pledged for Hau Giang 26 HCM City industry parks need new plan 27 Retail premises in HCM City's CBD in high demand 28 Hai Phong infrastructure boom paves the way for stellar

    rise in FDI ranks 29 PM urges Hanoi to build green, smart city 30 $1.87 billion projected for offshore fishing development 32 High growth expected for VN's land lot segment 32 Home sales slowdown in September in major cities 33

    Hanoi retail sector rising with real estate 34 Real estate developers in small provinces do big business 34 Kien Giang moves to develop supporting industry 35 Vietnamese, Thai firms seek to promote trade at business-

    matching event 35 BIZ NEWS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .36

    Business Briefs 02 October, 2017 36 HOSE stock rally triggers profit taking 37 VN Index falls after late selling 38 HNX raises over 4 trillion VND from government bonds in

    September 39 Which areas will strongly attract investment? 39 Vinacomin divestment opens large opportunities for investors 40 Close-up of PetroVietnam's three major IPOs in 2017 41 Experts urge to follow market pricing in Sabeco 44 Tool to enable construction sector approach industry 4.0 45 Using smart phone in cultivating vegetables 45 Leading telcos committed to 4G service expansion 46 Purchasing power of apartment market in Hochiminh city

    drops 25pct 47 Housing market in western area of Hanoi in Q3 remains

    attractive 47 Local e-commerce sites win the hearts of Vietnam's shoppers 48 More state-funded projects continue facing losses 49 Forest brings higher income to farmers 49 India to continue supporting Hanoi in IT training 50 Chinese tourists top list of foreign visitors to Vietnam 50 Expats get higher incomes in VietnamHSBC survey 51 Saigontourist to build more boat stops for waterway tourism 51 US$660 million needed to finance ring road project in HCM City 52 Cat Linh-Hadong Metro Line unable to start test runs in October 53 Vietnam faces shortage of Korean interpreters 53 Vietnam suggests foundation of Apec women entrepreneurs'

    network 54 Bac Van Phong, no longer a sleeping beauty 55 Cai Mep-Thi Vai Port needs changes 55 Hanoi, Qatar Airways seek tourism development cooperation 56 Air New Zealand continues seasonal flights to HCM City 56 Airlines sell tickets for Tet flights! 57 Details of Toyota recall programme announced 58 RoK firm to build waste-to-energy plant in Hung Yen 58 Novaland Group receives $40mn loan facility 58 Tisco reaches agreement with Chinese contractor to resume

    multimillion-dollar project 59 Vietnam Airlines aims to transport 25 million passengers in 2018 60 Hoa Binh Group conferred Labour Order 60 Conference seeks ways to build sustainable rice production

    chains 61 'Vietnamese Dragon Fruit Day' goes vibrant in Australia 61 Workshop in France spotlights Vietnam's economy 62

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    Vietnam finance & business 2 October 2017

    FINANCE Reference exchange rate goes down by 2 VND at week's beginning

    02/OCT/2017 INTELLASIA| VNA

    The State Bank of Vietnam set its reference VND/USD exchange rate at 22,468 VND/ USD on October 2, down by 2 VND from the end of last week. With the current +/- 3 percent VND/USD trading band, the ceiling exchange rate is 23,141 VND per USD and the floor rate is 21,795 VND per USD. Major commercial banks made slight changes to their rates. Vietcombank kept its buying and selling rates unchanged from the end of last week at 22,690 VND and 22,760 VND, per USD. BIDV offered 22,695 VND (buying) and 22,765 VND (selling), per USD, up by 5 VND. Vietinbank set its buying rate at 22,690 VND per USD, up by 10 VND, and kept its sell- ing rate unchanged at 22,760 VND per USD. https://en.vietnamplus.vn/reference-exchange-rate-goes-down-by-2-vnd-at-weeks- beginning/118814.vnp

    HCM City credit growth reaches 13.5pct in 9 months

    02/OCT/2017 INTELLASIA| VNA

    Outstanding loans of commercial banks in HCM City in the first nine months of 2017 rose 13.5 percent against December last year to more than 1.67 quadrillion VND (73.57 billion USD), the city People's Committee report stated. Of the total, loans in dong accounted for 90.4 percent, equal to more than 1.5 quadril- lion VND, up 13.2 percent against December last year. Loans in foreign currencies made up 160 billion VND, up 15.4 percent. Non-performing loans accounted for 4 per cent of the city's total outstanding loans, down 0.04 percentage points against December last year. HCM City-based commercial banks during the period lent 152.77 trillion VND to 37,920 customers in the government's five prioritised industries of agricultural pro- duction, export business, production of small and medium-sized enterprises (SMEs), supporting industry and high-tech production, of which loans to SMEs made up the highest proportion of 64.4 percent, or 98.44 trillion VND. The committee also reported that the banks mobilised 1.94 quadrillion VND in the first nine months, up 9.2 percent against December last year. Of the total capital, deposits in dong reached over 1.7 quadrillion VND, accounting for 87.9 percent and rising 9.6 percent against December last year. https://en.vietnamplus.vn/hcm-city-credit-growth-reaches-135-percent-in-9-months/ 118748.vnp

    Banks face charter capital difficulties

    02/OCT/2017 INTELLASIA| VNS

    State-owned banks are finding it more difficult to increase charter capital, especially when they still have to pay dividends instead of keeping the money for this purpose. It is estimated that the State budget will get an additional nearly VND6.1 trillion (US$268.7 million) from the dividend payout of three State-owned banks VietinBank, Vietcombank and BIDV by the end of October this year. VietinBank on September 19 announced it will pay cash dividend to shareholders for 2016. The payment rate will be 7 per cent, meaning that for each share, shareholders will receive VND700 on one share holding. At this rate, the bank will pay dividend worth VND2.6 trillion for 3.72 billion shares held by the stakeholders. Of the total dividend, State capital representative State Bank of Vietnam, which holds 64.46 per cent of VietinBank's charter capital as of June 30, 2017, will receive VND1.68 trillion. Bank of Tokyo-Mitsubishi UFJ, VietinBank's strategic investor, will get VND514 billion, thanks to its ownership of 19.73 per cent of VietinBank's charter cap- ital. Previously, Vietcombank's board of directors also approved to make an 8 per cent div- idend payout on October 16. The bank will pay shareholders VND800 per share. With nearly 3.6 billion shares listed on the HCM Stock Exchange, the value of the dividend payout will reach nearly VND2.9 trillion. SBV is also the largest shareholder of Vietcombank, owning more than 2.77 billion

    Intellasia 2 October 2017 2 / 62

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    Vietnam finance & business 2 October 2017

    shares, or 77.1 per cent of the bank's charter capital. The second-largest shareholder is Japanese Mizuho Bank Ltd, which owns nearly 540 million shares, or 15 per cent of the bank, while other shareholders own total 7.89 per cent of the bank's capital. Thus, the State will receive more than VND2.2 trillion from Vietcombank once the bank com- pletes its dividend payout while Mizuho Bank Ltd will collect VND431.7 billion. With these dividend payout plans, the three banks will contribute nearly VND6.1 tril- lion to the State budget this year.