270717Intellasia Finance Vietnam - HKBAV ... HCM City, Lotte Group ink deal to build Thu Thiem Eco...

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Transcript of 270717Intellasia Finance Vietnam - HKBAV ... HCM City, Lotte Group ink deal to build Thu Thiem Eco...

  • 27 July 2017

    finance & business news

    FINANCE . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 1 Reference exchange rate down 3 VND 1 Overnight and 1-week interbank rates fall to below 1pct due to

    abundant liquidity 2 Project on credit institution restructuring gets PM's approval 2 Experts discuss VN's financial security 3 How many banks are paying employees more than 20m

    dong per month? 3 Vietnam expects stronger auditing cooperation with Japan 4 S Korean banks to expand in VN 5 NCB becomes first commercial bank to report losses in Q2/2017 6 BIDV reports 24pct growth in H1 operating income 6 Sacombank achieves $19 million pre-tax profit in H1 7 VIB opens new branches nation-wide 7 ABAC meeting looks into finance, business development issues 8 Agro-forestry-aquatic exports hit 20.45 billion USD in 7 months 8 Vietnam sees feasible 3 billion USD export of fruits, vegetables 9 Vietnam gets $145 billion from 30 years of oil export 10 Exports to Laos see upturn trend 10 EVFTA boosts export-import opportunities between

    Vietnam and Italy 10 MoIT to auction duty quota for sugar import 11 Finance Ministry refuses to cut coal import tax 12 Ministry gives more information about public investment

    disbursement 12 PM criticises 13 provincial leaders and ministers for slow

    disbursement 13 Private capital in healthcare sector helps ease city's budget

    constraints 13 BSC lowers outlook for oil and gas industry in Q3/2017 14 Government refuses to budge on tight aviation rules 15 Mekong Delta authorities warn about excessive rice stock 16 Real estate inventories drop slightly 16 Vietnamese hospitality wins big 17 FIEs' ups and downs affect Vietnam's economic index 17 VN leatherware makers make a mark 18 Vietnam accounts for about 10pct in Southeast Asia's

    online travel market 19 Vietnamese firms embrace telework trend 20 Products for mothers and children worth $7 billion,

    but consumers prefer imports 21 What do real estate billionaires contribute to the economy? 22 Vietnam wishes to further trade ties with Paraguay 22 Indonesian embassy promotes palm oil, paper trade

    with Vietnam 23 Vietnam-Australia rice cooperation in fine shape 23 Ontario premier to lead 1st ever trade mission to Vietnam 24 PM asks Ha Tinh to become major industrial centre 24

    BIZ NEWS . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 25 Business Briefs July 27, 2017 25 Market strongly recovers 26 Large-cap stocks lift VN market again 26 Main indexes close higher 27 Foreign currency strongly flows into the market in H2 27 What can be seen through foreign investors' trading

    on Vietnam's stock market in H1? 28 50 listed firms win best annual report awards 30 Vietnam Azalea Fund sells 75pct of Loc Troi holding 30 Seagoing vessels to be inspected for safety worldwide 31 Vietnam's growing demand for US property 31 HCM City to upgrade downtown sewer system 32 HCM City, Lotte Group ink deal to build Thu Thiem Eco Smart City 32 Lam Dong licenses 10 adventure tour operators 33 Leading US spider silk developer expands footprint into Vietnam 33 Three foreign firms to invest in Hanoi's urban railway network 34 Dragon Capital mulls solar power project in Can Tho 34 Long Thanh Airport lotus design criticised for high cost 35 SBT and BHS merge to compete with Thai sugar 35 Financing issue delays Long Son petrochemical project 36 Internet of Things hackathon to award VND600 million in prizes 37 TTC Sugar receives EU organic certification 37 VNA to operate from Singapore Changi Airport T4 38 HK financial group invests in low-cost multiplexes 38 Bitexco steadfast in pursuing $1.35 billion urban project 39 3 reasons why telco giant Viettel's global expansion is booming 39 LG Electronics gets preferential customs 40 RoK firm seeks investment opportunities in Hau Giang 41 HSBC suffers $75,000 loss due to loose management of staff 41 JW Marriott Hanoi named Vietnam's top ten 5-star hotels 42 International farm, food and agricultural machinery expos

    open in HCM City 42 Vietnam attends international gifts fair in Singapore 43 HCM City to host export markets forum 43 Urban farming expo opens in HCM City 44 Samsung Sourcing Fair 2017: more opportunities for local firms 44 Taiwan Excellence side by side with IoT revolution at

    Taiwan Expo 2017 45 VietnamJapan Cultural Exchange Festival in Da Nang on way 46

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    FINANCE Reference exchange rate down 3 VND

    27/JUL/2017 INTELLASIA| VIETBAO

    The State Bank of Vietnam (SBV) announced the daily reference exchange rate for VND/ USD on July 27th 2017 at 22,430 VND per USD, down by 3 VND compared to July 26th 2017.

    FINANCE

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    Vietnam finance & business 27 July 2017

    Vietcombank keeps the rates unchanged at 22,695 VND per USD (buying) and 22,765 VND per USD (selling). BIDV also buys and sells USD at the same rates as the day ago, reaching 22,700 VND (buying) and 22,770 VND (selling) per USD. Vietinbank cut both rates by 10 VND, buying at 22,685 VND per USD and selling at 22,765 VND per USD. Meanwhile, Techcombank offers buying rate at 22,680 VND per USD and selling rate at 22,775 VND per USD, up by 5 VND on buying rate compared to July 26th 2017.

    Overnight and 1-week interbank rates fall to below 1pct due to abundant liquidity

    27/JUL/2017 INTELLASIA| TRI THUC TRE

    As per the weekly monetary market report of SSI Retail Research, in the week until July 21, the interbank interest rates continued to fall deeply, showing abundant liquid- ity. Specifically, overnight interest rates hit 0.7 percent, well below the one percent thresh- old for the first time since November 2016 and were equal to the interest rates in the same period last year. Similarly, one-week, one-month and three-month interest rates were also being traded at 0.8 percent, 2.0 percent and 3.5 percent, the lowest level since early 2017. The signal of good liquidity was also shown by the State Bank's first issuance of Treas- ury bills (T-bills) for the first time after four months. In five consecutive sessions, the State Bank issued 37 trillion dong of 7-day tenor T-bills, which was a large amount of money issued in a short time. In particular, the T-bill interest rate dropped sharply after each session, from 1.3 per- cent on the first day of the week to just 0.5 percent on weekdays. The 0.5 percent level was also much lower than the interest rate in same period of 2016 at 1.5 percent-1.75 percent.

    Project on credit institution restructuring gets PM's approval

    27/JUL/2017 INTELLASIA| VNA

    The prime minister has issued Decision 1058/QD-TTg approving a project on restruc- turing the system of credit institutions in combination with settling bad debt for the 2016-2020 period. The project aims to restructure credit institutions and settle bad debt on the principles of ensuring the interests of depositors and maintaining the stability and safety of the banking system, and reduce the number of badly performing credit institutions. Overall solutions include completing the legal framework, perfecting policies and mechanisms related to monetary and banks' operations, improving the financial and business administration capacity of credit institutions, and bettering inspections and supervisions over banks' operations. The project stresses the need to improve the capacity of the State Bank of Vietnam (SBV) to make early warning of systematic risks and to prevent the risk of law viola- tions of credit institutions and foreign banks' branches. Inspection work will be reformed on the basis of using new risk control tools and methods. The project also puts forward orientations and measures to restructure commercial banks in which the State holds more than 50 percent of chartered capital, and improve operations of joint stock commercial banks, financial and financial leasing companies. For bad debt settlement measures, the project asks the SBV, ministries, localities, credit institutions, Vietnam Asset Management Company (VAMC), and organisations and individuals involved to continue implementing the Decision No.843/QD-TTg on set- tling bad debts of the credit institution system. Credit institutions are required to review the quality and recovery possibility of out- standing debts, while continuing to restructure debts. The SBV, ministries and localities are requested to continue implementing measures related to monetary, credit and banking policies and mechanisms, along with solving difficulties for business and production activities, and stimulating consumption. The SBV needs to intensify inspections and supervisions on credit institutions' observ- ance of rules on credit, safe operation and debt classification, while the VAMC focuses on classifying borrowers, mortgage assets and loans, coordinating closely with credit institutions in taking back and restructuring debts and selling debts and guarantee as- sets, and providing financial assistance for borrowers to recover business and produc- tion and complete unfinished projects. The country's system of credit institutions currently includes State-owned banks, joint

    Intellasia 27 July 2017 2 / 46

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    Vietnam finance & business 27 July 2017

    stock banks, finance companies, financial leasing companies, foreign credit institu- tions, cooperative banks, People's credit funds and microfinance institutions. http://en.vietnamplus.vn/project-on-credit-institution-restructuring-gets-pms-ap- proval/115419.vnp