080617Intellasia Finance Vietnam Vietnam's exports to US reach 12.4 billion USD 11 Vietnam's tuna...

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Transcript of 080617Intellasia Finance Vietnam Vietnam's exports to US reach 12.4 billion USD 11 Vietnam's tuna...

  • 8 June 2017

    finance & business news

    FINANCE. . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Reference exchange rate up by 5 VND 1 SBV wants to cut lending rates 2 Banks getting more cautious about lending foreigners 2 Changed taste boosts long-term G-bond trading 3 VIAC encourages alternative dispute resolutions 3 Life insurers 'test' a series of new sales channels 4 Sacombank still faces troubles in senior personnel 5 Should we pursue quantity or quality of GDP? 6 Industrial growth should add value: CIEM 8 Japan offers $1 billion ODA for Vietnam 9 Vietnam M&A market hits $1.8 billion in Jan-May 9 VN placed 6th in 2017 Global Retail Development Index 10 Vietnam's exports to US reach 12.4 billion USD 11 Vietnam's tuna exports witness impressive growth 12 US FDA warns about hepatitis A in frozen tuna from Vietnam 12 Vietnam's five-month tea export sees strong growth 13 MARD seeks to increase livestock product exports 13 Vietnam Customs tightens controls on car imports 14 Automobile sales rebound in May 14 Vietnam boosts institutional reforms to lure Japanese investment 15 NA lukewarm to planned seafood protection and

    development fund 16 Shrimp, coffee, ginseng added to national products list 16 Measures sought for sustainable pepper development 17 PM orders stricter fines on food safety violations 17 Pollution in HCM City a burden too heavy to shoulder 18 Franchising remains a new concept in Vietnam 18 Vietnam's aviation market attracts private firms 19 Instant noodle market still has room for new rookies 20 Privatisation no cure for healthcare ills: deputy PM 22 Should FIEs provide outbound tours? Domestic travel firms say no 23 High-tech, clean agriculture: investment trends for powerful

    capitalists 23 VN, US entrepreneurs, officials discuss trade 24 Japanese firms shifting to consumer goods sector 25

    VN, Czech firms see cooperation potential 27 Gia Lai invites HCM City investors into agro-forestry sector 28 Farm products main exports of Vietnamese firms in Dong Nai 29 Ca Mau looks to develop shrimp sector 29

    BIZ NEWS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . .30 Business Briefs Jun 08, 2017 30 Financial stocks boost the markets 30 VN Index stays above 750 points 31 Market surges nearly eight points 31 Why have big firms still not listed their shares on foreign

    bourses? 32 IDICO to sell 45pct State capital to investors 33 Cam Ranh Airport Services to sell 1.45m shares 33 FLC Group to list on Singapore exchange 34 Viet Ha to trade on UPCoM from Q3 34 Can Tho cuts training deal with US city 34 Investment inflows into Binh Dinh rise in five months 35 Jica provides support to Hoa Lac Science and Technology City 35 New international container route goes through Quang Ninh 36 FLC plans roadshow in Singapore 36 Japanese project hoped to help spur Vinh Phuc's development 37 H&M to open first Vietnam store in HCM City 37 Hai Phong Sakura Golf Club given green light 37 Honeywell upbeat about Vietnamese growth 38 Vinpearl Da Nang Resort & Villas wins award 38 GE Healthcare and partners extend BME training to South

    Vietnam 39 How will Saigon track down Facebook retailers to collect tax? 40 Top 50 businesses to be announced 41 Movement to rescue Dong Nai pig farmers begins to pay off 41 Vietnam, US discuss ways to boost trade-investment ties 42 Midterm VBF 2017 to open this month 42 Industrial, manufacturing fair kicks off in Binh Duong 43 Vietnam international arbitration centre holds dispute workshop 43 Summer electronics fair and ICT expo opens today in HCM City 44


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    FINANCE Reference exchange rate up by 5 VND

    08/JUN/2017 INTELLASIA | VNA

    The State Bank of Vietnam (SBV) set its reference VND/USD exchange rate at 22,406 VND/USD on June 8, up 5 VND from the previous day. With the current +/- 3 percent VND/USD trading band, the ceiling exchange rate is 23,072 VND per USD and the floor rate is 21,730 VND per USD. In opening hours, the exchange rate at major commercial banks saw fluctuations. Vietcombank listed its buying rate at 22,665 VND and its selling rate at 22,735 VND, per USD, down 15 VND in both buying and selling rates as compared to those late on June 7. BIDV also kept its buying and selling rates at 22,665 VND and 22,735 VND, unchanged from the previous day. Vietinbank kept its buying and selling rates unchanged from a day ago at 22,660 VND and 22,730 VND per USD.

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    Vietnam finance & business 8 June 2017

    SBV wants to cut lending rates


    The State Bank of Vietnam (SBV) on June 6th has released the monetary management results in the first half of 2017. Accordingly, the mobilisation and lending interest rate levels of credit institutions (CIs) were stable. In the context when inflation is forecasted to rise, demand for credit and government bond issuance continues to be high, and the disbursement process of investment capital remains low, CIs' interest rates are under the pressure to increase. SBV has focused on managing the solutions to stabilise interest rates through keeping rational liquidity regulation to support CIs keep interest rate stability, and further in- structing CIs to cut costs and enhance business efficiency to keep mobilisation interest rates stable and strive to lower lending rates. As a result, the market interest rates were stabilised, and some banks applied prefer- ential interest rates to some customers. The lending rates are currently ranging around 6-9 percent per annum on short terms and 9-11 percent per annum on medium and long terms. For good customers, short-term lending rates can be 4-5 percent per an- num. According to SBV, in the near future, the agency will continue to manage interest rates in line with macroeconomic developments, inflation and monetary market in order to stabilise interest rates. In addition, SBV will further instruct CIs to save costs and im- prove business efficiency to keep mobilisation rates stable and have conditions to re- duce lending rates, aiming to share difficulties with borrowers while ensuring financial security in operation. Furthermore, SBV will continue to instruct CIs to focus credit for priority sectors and effective production and business areas as directed by the government. The agency will further direct the implementation of specific programmes of the government for products such as rice, coffee, and fishery.

    Banks getting more cautious about lending foreigners


    Commercial banks are more cautious when offering home loans to foreigners, accord- ing to a recent report of HCM City Securities Company (HSC). However, the company does not mention whether the policy is from commercial banks or management agen- cy. HSC supposes that the aforementioned reason only influences on the psychology of in- vestors in the market rather than on the real needs. The proportion of foreigners buying houses has not decreased significantly and for- eigners tend to be more involved in the luxury segment of the real estate market. As per HSC, most foreigners' home purchase transactions are made in cash. Therefore, to get a loan from banks, home purchasers who are foreigners will have to complete a lot of paperwork. Moreover, the tightened lending does not affect existing loans but new loans only. HSC also believes that this is a temporary move in the short term as commercial banks have recognised that supply has exceeded demand for high-end segment. Finding out more from project developers in high-end segment, HSC estimates that foreigners account for about 5-10 percent of the home purchase demand in this seg- ment. In fact, this number does not show the entire demand for home purchase of foreigners because there have not had any officially published data. Besides, many foreigners purchase houses but their Vietnamese wife/husband is the person named in the contract. The report also notes that there has had an oversupply in the high-end segment of the real estate market since Q3/2016 after a boom in 2015. Therefore, the aforementioned tightened lending focuses on high-end segment to cool down this segment.

    Changed taste boosts long-term G-bond trading

    08/JUN/2017 INTELLASIA | VNS

    Trading of long-term government bonds (G-bonds) in the first five months of 2017 has seen improvements compared to 2016 due to changing tastes of institutional investors.

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    Vietnam finance & business 8 June 2017

    The improvements include increasing bond maturity terms, the percentage of long- term bonds over total amount of bonds, which were successfully auctioned, is higher and all yield rates declined in comparison with 2016's figures. According to the Hanoi Stock Exchange (HNX), investors have shown more interests in long-term G-bonds as the percentage of issued bonds, whose maturity is over 15 years, is equal to 45.8 per cent of the total amount of market's bonds. Since the beginning of 2017, the HNX has held 122 bond auctions, raising a total VND121 trillion (US$5.38 billion). Of the issued G-bonds, the percentage of 15-year bonds is 17.5 per cent, of 20-year bonds is 10.4 per cent, and of 30-year bonds is 17.9 per cent. After the first five months of 2016, the government raised a total VND167 trillion from bond issuance with five-year bonds attracting investors' interest, occupying nearly 70 per cent of total issued bonds. The average maturity of