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Transcript of 180618 Intellasia Finance Vietnam - HKBAV Intellasia_Finance_ ¢  Digital economy offers...

  • 18 June 2018

    finance & business news

    FINANCE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 2 Reference exchange rate opens new week with rise 2 More pressure put on inflation as Fed raises benchmark

    interest rate 2 Financial experts urge caution against dollar loans 3 Banks rush to provide consumer loans, compete with finance

    companies 5 VN banks actively applying 4.0 technologies 5 Huge number of bank cards unused 6 Banks to strongly raise profit targets as business prospers 7 Unlike others, Techcombank and HDBank target at wholesale 9 Techcombank to complete procedures to raise capital to

    nearly 35 trillion dong in July 10 Strong State coffer depends on tax revenue 10 Hanoi needs new momentum for growth: prime minister 11 Hanoi follows international development investment trend:

    Indonesian Ambassador 12 Hanoi leads in six-month FDI attraction for first time 13 Quang Binh attracts 14 investment projects in five months 14 An Giang to seek investors for 54 projects 15 New businesses to enjoy fee-free services in Hanoi 15 HCM City calls for more healthcare projects under

    public-private partnership 16 Kien Giang targets 9.5 billion USD for socio-economic

    development 17 NA passes resolution on State capital control in SOEs 17 VN cyber law keeps with treaties 18 Decree 116 moves foreign car makers to expand production in

    Vietnam? 18 Law on special economic units aims to create new momentum 19 Vietnam likely to achieve 10pct export growth this year 20 Agricultural product exports via Lao Cai border gate surge 21 Seafood exports to China surge 21 Chinese and Thai produce top Vietnamese imports of fruit and

    vegetables 22 Sharp drop in pork and beef imports 22 Sticky rice sees price reduction 22 Hanoi sets up large-scale aquatic farming areas in eight districts 23 Digital economy offers SMEs a bright new world of opportunity 23 Being smart in the 'smart' era 24 Local companies embracing environment and the community 26 Furniture firms must use domestic materials 28 Premium product market in VN set to take off 28 Pharmaceutical firms make big investments on

    predicted market growth 30 Cashew industry suffers from weakness 32 Vietnam's aviation market heats up 32 More foreign investors enter Vietnam's logistics industry 33 Foreigners active in food and beverage startups 34

    Vietnam's hotel market attracts foreign management companies 35 JLL: Industrial property holds promise 35 HCM City in property boom 36 Grabbing Grab's share a tough ask in Vietnam 37 Da Nang seeks EU investment 38

    BIZ NEWS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 39 Business Briefs 18 Jun 2018 39 VN Index struggles to regain lost ground 40 VN stocks positive on ETF reviews 40 Stock market briefs 41 Fed's interest rate hike not to have large impact on

    Vietnamese stock market 41 Stock market confronting macro risks 42 Feasibility studies completed for several southern

    expressway projects 42 TV market heats up for World Cup 43 No betting on World Cup matches in Vietnam 43 More efforts required to fight cigar smuggling 44 International travellers daily spend VND3.3 million each

    in HCM City 45 Farmers earn higher incomes from protecting mangrove forests 45 Thousands of foreign specialists work in Binh Duong,

    live in HCM City 46 Burial plots offered for sale 46 Vietnam builds IT and foreign language centre 47 Hanoi's $4 billion smart city to enter first phase by late 2018 48 New tollgates in Long An start fee collection on Sunday 48 Investor of Trung Luong-My Thuan Expy gets funds for

    construction 49 BASF introduces chemical-based battery materials for

    electric vehicles 50 Navigos, ILSSA strike labour information deal 50 Vinamilk preparing ambitious plan for Burma market 51 TRACODI shareholders set $3.4mln profit goal 51 AMD targets 2018 revenue of $100.7 mn 52 Saigon Co.op distributes VietGAP litchis 52 $53 million hospital to be built in Da Nang 53 Da Lat to launch $50-m sheep wool yarn spinning plant 53 Alpha King to change HCM City skyline 54 HATECO LAROMA to open at end-2019 54 Savico sets low targets 55 Viettel's general director appointed as new chair 56 Seminar sheds light on Kien Giang's real estate 56 Local startups can join MTA Vietnam 2018 58 Youth Co:Lab Vietnam 2018 kicks off 59 HCM City to host Asian-Pacific cities' tourism promotion forum 60

    FINANCE

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    Vietnam finance & business 18 June 2018

    ANCE Reference exchange rate opens new week with rise

    18/JUN/2018 INTELLASIA| VNA

    The State Bank of Vietnam set the daily reference exchange rate for June 18, the first day of the week, at 22,602 VND/USD, up 7 VND from the last day of previous week. With the current trading band of +/-3 percent, the ceiling rate applied to commercial banks during the day is 23,280 VND/USD and the floor rate 21,926 VND/USD. The opening hour rates at commercial banks either stayed unchanged or saw slight ris- es. Vietcombank and BIDV maintained the same rates as on June 15, buying the greenback at 22,785 VND/USD and selling at 22,855 VND/USD. Techcombank adjusted both rates up by 10 VND, listing the buying rate at 22,765 VND/USD and the selling rate at 22,865 VND/USD. The reference exchange rate was on a rising trend throughout the week from June 11 to 15, opening the week at 22,567 VND/USD and ending at 22,595 VND/USD. Meanwhile, the trend at commercial banks was mixed during the week. The buying rate at Vietcombank opened the week at 22,765 VND/USD and ended the week at 22,755 VND per USD. The selling rate started the week at 22,835 VND/USD, and ended at 22,845 VND per USD. At BIDV the buying rate was at 22,765 VND/USD on the first day of the week and 22,775 VND/USD on the last day. The selling rate was 22,835 VND/USD and 22,845 VND/USD, respectively. At Techcombank, the buying rate stood at 22,745 VND/USD on Monday (June 11) and 22,755 VND/USD on June 15. The selling rate was at 22,845 VND/USD on Monday and 22,855 VND/USD on Friday. https://en.vietnamplus.vn/reference-exchange-rate-opens-new-week-with-rise/ 133043.vnp

    More pressure put on inflation as Fed raises benchmark interest rate

    18/JUN/2018 INTELLASIA| BAO DAU TU

    The U.S Federal Reserve (Fed) decided to raise the benchmark interest rate by 0.25 per- centage points while implying that from now till the end of the year, the rate could be raised two more times. How will this affect the Vietnamese economy? *What are the risks for the Vietnamese economy? On the morning of June 14 (local time in Vietnam), Fed officially announced to raise benchmark interest rate by 0.25 percentage points. As such, after remaining the inter- est rate of 1.5-1.75 percent in May, in this June, the decision was made. With this deci- sion, the federal interest rate is currently about 1.75-2%. In fact, Fed's decision to raise interest rate was not surprising to investors as well as economic experts because it was anticipated. The surprising thing was that, along with the decision to raise interest rate this time, Fed also hinted that there would be two more interest rate hikes this year. That means in 2018, there will have four times of interest rate increases instead of just three last year and the previous projection. The reason for Fed's interest rate hike was because Fed's economy has strengthened. Responding to the aforementioned information, the U.S stock market immediately went down on Wednesday. All the three indexes of Down Jones, S&P 500 and Nasdaq Composite fell. There needs time to wait for the world market's reaction, but surely many economies are worried about this decision of Fed. The reason is the U.S' interest rate hike will make the US dollar to be preferred, and its value will increase compared to other currencies, includ- ing dong. Regarding this issue, economists admit that Fed's decision to raise interest rate is not too surprising as it was anticipated and this will have certain impact on Vietnam's economy. "The fact that the U.S continued to raise interest rate as well as the relative positive growth of the world's biggest economy is likely to lead to the US dollar appre- ciation instead of depreciating like last year, putting pressure on Vietnam currency", said Can Van Luc.

    Intellasia 18 June 2018 2 / 60

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    Vietnam finance & business 18 June 2018

    Senior expert Cao Viet Sinh, former vice minister of the Ministry of Planning and In- vestment (MOPI) said Fed's decision to raise interest rate along with the announce- ment to increase interest rate two more times in this year" will "greatly influence on Vietnam's economy". "There may not have large impact in the immediate future but it is going to be different at the end of the year, perhaps even more in the following year. This decision is going to affect dong's exchange rate. Currently, Vietnam still runs trade surplus ($2.67 billion after the first five months of the year-reporter), so there is not much affect. However, we still have to consider exchange rate issue in the long run," said Cao Viet Sinh. The information shows that currently, though Fed has not raised interest rate, the ex- change rate pressure was higher than the previous year. Last year, the US dollar de- preciated nearly 10 percent but since the beginning of this year, this currently increased about 1.8%. This will put pressure on US dollar/dong exchange rate. In the recently