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maandag 10 april 2017

Vietnam: Reference exchange rate goes up 5 VND

Reference exchange rate goes up 5 VND

The daily reference exchange rate for VND/USD was set at 22,265 VND/USD on March 30, up 5 VND from the previous day. With the current +/- 3 percent trading band, the ceiling rate for commercial banks during the day is 22,932 VND per USD and the floor rate 21,598 VND per USD...

Meanwhile, the opening hour rates listed by commercial banks continued to reduce slightly.

The post Reference exchange rate goes up 5 VND appeared first on Dutch Business Association Vietnam.

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M&A in banking unlikely to pick up soon

According to Le Minh Hung, governor of the State Bank of Vietnam (SBV), the government has recently made a few steps aiming to accelerate the restructuring of the banking system and dealing with bad debts, but there are many prevailing issues.

The post M&A in banking unlikely to pick up soon appeared first on Dutch Business Association Vietnam.

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TPG buys majority stake in Vietnam Australia International School

"In the next three to five years, with the support of TPG, we will invest in the development and training of our staff, further improvements in the quality of our services, teaching-learning activities, and facilities," said Mr. Marcel van Miert, Executive Chairman of VAS. "Regarding expansion plans, VAS intends to open many more large-scale campuses in Ho Chi Minh City and elsewhere. I am honored to continue to accompany VAS's staff and teachers, who will implement the plan."

The post TPG buys majority stake in Vietnam Australia International School appeared first on Dutch Business Association Vietnam.

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Vietnamese economy sees slower Q1 growth

Vienam posted a year-on-year GDP growth of 5.1 per cent in the first quarter of 2017, slower than the previous two years at 5.48 and 6.12 per cent, respectively. Nguyen Bich Lam, head of the General Statistics Office of Viet Nam (GSO), said at a press briefing yesterday that one of the main reasons for the contraction was the slow growth of agriculture, forestry and aquaculture.

The post Vietnamese economy sees slower Q1 growth appeared first on Dutch Business Association Vietnam.

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Imported goods subject to customs procedures at import border gates to be listed

These imports include cigarettes, cigars and tobacco products; liquor; beer; under-16 seat cars; two- and three-wheeled motorcycles of a cylinder capacity of over 125 cm3; aircraft and yachts liable to excise tax; gasoline of all kinds; air conditioners of up to 90,000 BTU; playing cards; votive gilt papers and votive objects; and imported goods with preferential import duty rates, even particularly preferential tax rate of 10 percent or higher.

The post Imported goods subject to customs procedures at import border gates to be listed appeared first on Dutch Business Association Vietnam.

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Environmental protection projects provided with capital assistance

The Ministry of Finance has issued Circular No. 12/2017/TT-BTC guiding the procedures of supporting investment capital for environmental protection projects, which are protected by the State under the form of granting the Patent for Invention or Utility Solution as stipulated at Decree No. 19/2015/NĐ-CP detailing the Law on Environmental Protection.

The post Environmental protection projects provided with capital assistance appeared first on Dutch Business Association Vietnam.

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Decree on administrative violations in VN's sea areas amended

Fines of between VND5-10 million will be imposed on foreign boats or submarines not flying the national flag and the Vietnamese flag or flying the flags incorrectly when operating in Vietnam's internal and territorial waters except allowed by the Vietnamese Government based on the agreements between Viet Nam and the nations occupying the boats or submarines.

The post Decree on administrative violations in VN's sea areas amended appeared first on Dutch Business Association Vietnam.

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New draft law sets minimum air ticket price

VNA and JPA commented that regulation for the floor price is in line with the current law on Civil Aviation of Vietnam. The law regulates that "airlines will decide ticket prices for domestic flights in the price framework regulated by the Ministry of Transport."

The post New draft law sets minimum air ticket price appeared first on Dutch Business Association Vietnam.

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Creditors adjust growth forecasts

Despite expectations of stable interest rate levels this year, credit institutions have made adjustments in their forecast for capital mobilisation and credit growth in the second quarter and the year, according to a State Bank of Vietnam (SBV)'s latest survey.

The post Creditors adjust growth forecasts appeared first on Dutch Business Association Vietnam.

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VN manufacturing PMI hits 22-month high in March

According to a Nikkei's report released on Monday, the Vietnamese manufacturing sector ended the first quarter of the year on a positive note. The strengthening of business conditions was the most marked since May 2015. "Particularly pleasing in the latest month was a near-record increase in employment as companies maintained optimism that workload will continue to expand in the near term at least," Andrew Harker at IHS Markit said.

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Diesels must meet Euro 4 standard

New diesel vehicles are required to follow Euro 4 emission standards before December 31 this year, according to the Ministry of Transport (MoT). The information was released in a Government message sent to the MoT last week, urging implementation of the roadmap for application of exhaust emission standards to manufactured, assembled and imported new cars and motorbikes.

The post Diesels must meet Euro 4 standard appeared first on Dutch Business Association Vietnam.

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Overseas shipment touches nearly US$ 44 billion in Q1

However, overseas shipment of phones and spare parts was US$ 7.39 billion, down 10.7% against the same period last year. Coffee export suffered a 1.6% decline in volume and 30.7% decrease in value to US$ 1.05 billion. Petrol export was estimated at US$ 2.63 million tons and US$ 1.42 billion in revenue.

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VN, Netherlands enhance cooperation in climate change adaption

He hailed the developments in the two nations' relationship over the recent years, affirming the importance of the Strategic Partnership on Climate Change Adaptation and Water Management in 2010 and the Strategic Partnership Agreement in Sustainable Agriculture and Food Security in 2014.

The post VN, Netherlands enhance cooperation in climate change adaption appeared first on Dutch Business Association Vietnam.

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Transfer centre to be built in City hi-tech park

Basing on studying and applying advanced techniques, the centre will develop concentrated and intensive science research activities. It will encourage pilot studies and new products with high technology content. Nearly $10.6 million out of the total investment will be used to purchase modern equipment serving technological study, application and transfer, and training activities in the centre, especially in terms of automation, new materials, precision mechanics, biotechnology, wastewater and solid waste treatment, and environmental protection.

The post Transfer centre to be built in City hi-tech park appeared first on Dutch Business Association Vietnam.

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HCMC posts growth of 7.46% in first quarter

HCMC has seen positive economic indicators in the first quarter of this year compared to the same period last year, with gross domestic product (GDP) expanding 7.46%, the municipal government said.

The post HCMC posts growth of 7.46% in first quarter appeared first on Dutch Business Association Vietnam.

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GDP grows 5.1%, CPI rises 4.96% in Q1

GSO general director Nguyen Bich Lam said GDP growth in the first quarter was below 6.12% in the same period of 2015 and 5.48% last year. "It is expected that without many breakthroughs, this year's 6.7% growth target is unlikely to be achieved," he said.

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Vietnam has trade relations with 200 countries

The stable growth of import and export in 2016 contributed significantly to GDP growth, job creation, farm produce consumption for farmers and helped increase foreign exchange reserves, stabilize exchange rates and ensure a macroeconomic balance.

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Startups grow 11.4% in Q1

Enterprises pointed out a number of major factors impacting their production and sales in the first three months. According to the survey, 56.2% selected improved competitiveness of domestically-made products, 44.2% ticked low domestic demand, 34.5% pinpointed financial difficulties, 31.2% had difficulty recruiting employees, 27% claimed high interest rates, and 22.9% chose strong competition of imported goods.

The post Startups grow 11.4% in Q1 appeared first on Dutch Business Association Vietnam.

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Tetra Pak Vietnam building factory in Binh Duong

The Tetra Pak Vietnam JSC will invest $110 million in building a factory in southern Binh Duong province this year, according to General Director Mr. Robert Graves. Construction of the factory, with a capacity of 20 billion packaging products per year, is expected to be completed in 2019.

The post Tetra Pak Vietnam building factory in Binh Duong appeared first on Dutch Business Association Vietnam.

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Green business competition launched

Up to six cash prizes worth VND720 million (USD34,400) will be awarded to those shortlisted. There are two prize categories – start-ups (worth VND100 million (USD4,800) each) and step-ups (for existing projects), worth VND140 million (USD6,688) each. These include waste reduction and efficiency, environmental transport and travel, energy reduction, water efficiency and sustainable design.

The post Green business competition launched appeared first on Dutch Business Association Vietnam.

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Vietnam's coffee cup could overfill two weeks earlier this year

"Based on our preliminary forecasts, the rainy season will begin earlier in the southern part of the Central Highlands, starting from April 25," said Pham Vu Tuan, head of the regional weather station based in Gia Lai Province, which oversees the entire Central Highlands.

The post Vietnam's coffee cup could overfill two weeks earlier this year appeared first on Dutch Business Association Vietnam.

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In official letter, Trump seeks stronger ties with Vietnam amid global trade tensions

Earlier this week, Osius said the U.S. will further boost trade ties with Vietnam as part of bilateral cooperation which also include investment and education even when its new administration has rejected the Trans-Pacific Partnership trade deal.

The post In official letter, Trump seeks stronger ties with Vietnam amid global trade tensions appeared first on Dutch Business Association Vietnam.

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Hanoi's economy grows 7.06 percent in Q1

Hanoi's economy grew in the first months of this year, with good performance in the industry-construction and service sectors, according to the municipal People's Committee. During January-March, the city's gross regional domestic product (GRDP) increased by 7.06 percent, the industry-construction sector grew by 6.99 percent, the service sector by 7.26 percent and the agricultural sector recorded growth of 0.54 percent.

The post Hanoi's economy grows 7.06 percent in Q1 appeared first on Dutch Business Association Vietnam.

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HCM City to offer soft loans to manufacturing firms

Half of the interest rate will be covered for projects that include construction of exhibition centres and provision of gas and chemicals for factories and research laboratories. Projects on design, research and development of products for supporting industries and industry in general will also pay only 50 percent of the interest.

The post HCM City to offer soft loans to manufacturing firms appeared first on Dutch Business Association Vietnam.

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PM approves industrial cluster development plan

services.

The program aims to complete researches, indentify potential areas, suitable competitive products and industrial clusters to start pilot projects in the mentioned sectors as well as review economic and industrial development plans and strategies to attract more investment in 2015. By 2020, it sets to form five pilot industrial clusters at identified potential areas, complete mechanisms and policies to attract investment, improve capacity of businesses, develop human resources and science-technology to serve the upgrade of the value chains and the formation of industrial clusters.

The post PM approves industrial cluster development plan appeared first on Dutch Business Association Vietnam.

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New policies take effect in April

A string of new policies on trade reconciliation, energy labeling, cash collection and expenditure, and financial management mechanisms for Electricity of Vietnam (EVN) will come into effect in April, according to the Government e-Portal.

The post New policies take effect in April appeared first on Dutch Business Association Vietnam.

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Foreign investment key to Vietnamese growth: experts

"It is important that FDI attraction is targeted at promoting technology transfer and improving competitiveness," Tue Anh said, adding that policies should direct investment to environmentally friendly and hi-tech sectors. "Rapid globalization and the fourth industrial revolution requires Vietnam to be selective in FDI attraction, with a focus on quality rather than quantity," he said

The post Foreign investment key to Vietnamese growth: experts appeared first on Dutch Business Association Vietnam.

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Vietnamsterdam

behance Now I live in Amsterdam, after having spent the last 4 years of my life in Vietnam. But for some reasons, I didn't feel disoriented when I landed in here. To ease your next trip either to Amsterdam or Vietnam, I will demonstrate in 8 points why Amsterdam and Vietnam are a kind of same same but different. Traffic Call it how you want it, but Xe Honda (motorbike) and fiets (bike) are a real nightmare for[...] READ MORE

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Flow of FDI to HCM City up 56.7%

Ho Chi Minh City attracted US$574.71 million in foreign direct investment (FDI) in the first quarter of 2017, a year-on-year increase of 56.7%, according to the municipal Department of Planning and Investment.

The post Flow of FDI to HCM City up 56.7% appeared first on Dutch Business Association Vietnam.

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Abbott: empowering employees is key to best working place

"It's great honor for Abbott to be recognized as No.9 Best place to work in Vietnam. This is a strong demonstration of our commitment and efforts in creating an ideal workplace for our talents to develop themselves. We believe that a healthy workplace inspires people to dedicate themselves in improving the quality of healthcare, offering the better healthcare solutions for Vietnamese people, allowing them to reach for their full potential and live their best life." – said Douglas Kuo, General Manager of Abbott Vietnam.

The post Abbott: empowering employees is key to best working place appeared first on Dutch Business Association Vietnam.

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Vietnamese 'mVisa' to come out later this year

"When asked why they are carrying less cash the majority of consumers said this was because of greater usage of cards and safety concern of carrying cash," the study said. Visa said that its findings come on the back of an announcement that the Vietnamese Government plans to make transactions almost totally electronic by 2020.

The post Vietnamese 'mVisa' to come out later this year appeared first on Dutch Business Association Vietnam.

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Vietnam should not aim to become industrial power

Nghia, who was deputy chair of the National Finance Supervision Council, said:
"I have little hope that Vietnam would become an industrial power. That seems far-fetched. But it is very likely that Vietnam would become a great power in farm produce, and tourism thanks to its great advantages in the fields."

The post Vietnam should not aim to become industrial power appeared first on Dutch Business Association Vietnam.

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Vietnam urged to focus on FDI quality, not quantity

Vietnam has been successfully calling for foreign direct investment (FDI) in the last 10 years, but in order to improve the quality of FDI projects, it needs new policies and technologies. Dien Dan Doanh Nghiep cited an MPI report as saying that Vietnam has received many FDI projects in the last year, including from big Japanese firms such as Sanyo, Matsushita, Sony, Fujitsu, Toshiba, Panasonic and Nidec.

The post Vietnam urged to focus on FDI quality, not quantity appeared first on Dutch Business Association Vietnam.

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US$4,34 billion credit package to be spent on high-tech agriculture

Deputy Prime Minister Vuong Dinh Hue and related agencies yesterday discussed on the implementation of credit package of VND100 trillion (US$4.34 billion) from commercial banks' called-up capital for high-tech agriculture development loan. Borrowers will enjoy lower interest rate from 0.5 to 1.5 percent compared to the interest rate levels in the domestic market.

The post US$4,34 billion credit package to be spent on high-tech agriculture appeared first on Dutch Business Association Vietnam.

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Reference exchange rate continues going up

The State Bank of Vietnam set the reference VND/USD exchange rate at 22,297 VND/USD on April 5, up 9 VND from the day ago. With the current +/- 3 percent VND/USD trading band, the ceiling exchange rate is 22,966 VND per USD and the floor rate is 21,630 VND per USD.

The post Reference exchange rate continues going up appeared first on Dutch Business Association Vietnam.

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Banks expect increased interest rates

In the final week of March, the State Treasury held a bond auction with 5-year, 7-year, 15-year, 20-year and 30-year terms having a total value of 7.050 trillion dong, according to the weekly monetary market report recently released by Saigon Securities Inc. (SSI).

The post Banks expect increased interest rates appeared first on Dutch Business Association Vietnam.

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Q1 GDP at 5.1% y-o-y

Vietnam's GDP increased 5.1 per cent year-on-year to VND931.6 trillion ($40.9 billion) in the first quarter of the year, according to the latest figures from the General Statistics Office (GSO). The services sector recorded the highest growth, of 6.52 per cent, representing 2.65 percentage points of total value.

The post Q1 GDP at 5.1% y-o-y appeared first on Dutch Business Association Vietnam.

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Startups attract investment of $205mn in 2016

The TFI report also showed that the value of merger and acquisition (M&A) deals peaked at $110 million. Significant deals included E-pay selling 62.5 per cent of shares to UTC Investment for $34 million and VNG moving back into the domestic e-commerce market by acquiring 38 per cent of Tiki, raising the company's value to $45 million.

The post Startups attract investment of $205mn in 2016 appeared first on Dutch Business Association Vietnam.

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KKR invests $250 million in Masan

Mr. Ashish Shastry, KKR's Head of Southeast Asia, said the investment underscores KKR's commitment to Vietnam in particular and to ASEAN generally. "Vietnam holds great opportunities with its growing economy and favorable demographic trends," he said. "KKR is committed to investing in the market by partnering with leading companies such as Masan Nutri-Science."

The post KKR invests $250 million in Masan appeared first on Dutch Business Association Vietnam.

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Malaysians firms look to expand business into VN

The companies said the key factors influencing their choice of expansion destination were stable/improving political and economic climate (41 per cent); large and growing customer demand (40 per cent); favourable tax and regulatory environment (35 per cent); strong local business connections (32 per cent); and Government incentives (28 per cent).

The post Malaysians firms look to expand business into VN appeared first on Dutch Business Association Vietnam.

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Gamuda Land to launch The ZEN Residence this month

Luxury apartment project in Hanoi's Hoang Mai district to be officially introduced shortly. The ZEN Residence, Gamuda Land's third luxury apartment project, will be officially introduced this month at Gamuda Gardens Township, at Km 4.4 Phap Van, Yen So ward in Hanoi's Hoang Mai district.

The post Gamuda Land to launch The ZEN Residence this month appeared first on Dutch Business Association Vietnam.

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$778mn invested in green energy projects

In terms of project scale, wind-generation power attracted the most attention among foreign investors, with total registered capital of $577 million, accounting for 74 per cent of capital in the green energy sector. Following was solar power, with capital of $137.38 million, or 18 per cent, and biomass power generation, with capital of $59.2 million, or 8 per cent.

The post $778mn invested in green energy projects appeared first on Dutch Business Association Vietnam.

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Signing the documents on the investment cooperation for the Southern Refinery Complex

The equipment of Southern Refinery Complex Project has the advanced and modern technologies to meet the requirements on environmental protection and high quality of the products as PP and PE… The project will create about 15,000 – 20,000 jobs during development process and 1,000 jobs during the commercial operation and contribute about USD 115 million per year to budget of Vung Tau province during 30 operation years.

The post Signing the documents on the investment cooperation for the Southern Refinery Complex appeared first on Dutch Business Association Vietnam.

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MoT revises transport regulations

Under the draft document, many other business conditions, such as the provision that enterprises and cooperatives sign labour contracts and pay social and health insurance for employees, have also been removed because these obligations are already stated under the Insurance Law and Labour Code.

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