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maandag 21 augustus 2017

Vietnam: Interest rates supporting the economy

Interest rates supporting the economy

As per the State Bank of Vietnam (SBV), credit growth in the first six months of the year was more than nine percent; credit flow to production, risky and priority areas was controlled; foreign exchange market and exchange rate was stable, leading the market.

The post Interest rates supporting the economy appeared first on Dutch Business Association Vietnam.

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Reference exchange rate up by 4 VND

The State Bank of Vietnam set its reference VND/USD exchange rate at 22,434 VND/USD on August 3, up by 4 VND from August 2. With the current +/- 3 percent VND/USD trading band, the ceiling exchange rate is 23,107 VND per USD and the floor rate is 21,761 VND per USD.

The post Reference exchange rate up by 4 VND appeared first on Dutch Business Association Vietnam.

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Industrial index up 6.5 per cent in seven months

Vietnam's Index of Industrial Production (IIP) posted a 6.5 per cent year-on-year increase in the first seven months of the year, according to the general Statistical Office (GSO). But GSO experts said it was lower than the 7.2 per cent rate in the first seven months of 2016. They also warned that the growth of the national IIP in the first seven months was not sustainable because the index of inventory rose by 10.4 per cent year-on-year, higher than the inventory index of 10.2 per cent in the first seven months of 2016.

The post Industrial index up 6.5 per cent in seven months appeared first on Dutch Business Association Vietnam.

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2017 seafood exports may hit $8bn for first time

VASEP makes prediction based on exports year-to-date. Seafood exports this year may reach $8 billion for the first time, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).

The post 2017 seafood exports may hit $8bn for first time appeared first on Dutch Business Association Vietnam.

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Investment flow into Phu Quoc Island remains strong

The investment flow into Phu Quoc Island off Kien Giang Province has stayed strong, with nine projects worth around VND2.6 trillion approved in the first half of this year, said the Management Board of the Phu Quoc Economic Zone.

The post Investment flow into Phu Quoc Island remains strong appeared first on Dutch Business Association Vietnam.

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SunCity Group to acquire casino project

Subsidiary to pick up holding in Hoi An South Integrated Resort, Quang Nam province, for $76.8 million. Goal Summit Ltd., a subsidiary of casino junket operator the SunCity Group, is set to acquire a 34 per cent stake in a casino project in central Quang Nam province.

The post SunCity Group to acquire casino project appeared first on Dutch Business Association Vietnam.

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Mid-end apartment supply plentiful

The real estate market will see an abundant supply of mid-end apartments toward the end of the year, according to the Vietnam National Real Estate Association. A number of renowned investors, such as Vingroup and Eurowindow, will launch a large number of mid-end apartments, which are of high demand.

The post Mid-end apartment supply plentiful appeared first on Dutch Business Association Vietnam.

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Nghi Son 2 thermal power plant to be kicked off by year-end

The construction of the $2.8-billion Nghi Son 2 thermal power plant, located in the central province of Thanh Hoa, will start by the end of this year. It was announced by the investor, namely the consortium of Japanese company Marubeni Corporation and Korea Electric Power Corporation (KEPCO), at the working session between the investors and representatives of Japan Bank for International Cooperation (JBIC), Export-Import Bank of Korea (K-Eximbank), and leaders of the Thanh Hoa People's Committee.

The post Nghi Son 2 thermal power plant to be kicked off by year-end appeared first on Dutch Business Association Vietnam.

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Foreign home ownership may rise to 99 years

Draft Law on Special Administrative-Economic Units contains provision for extending leaseholds for foreigners to 99 years, up from 50. The leasehold for home ownership for foreigners in Vietnam will be extended from 50 years to 99 years if the draft Law on Special Administrative-Economic Units is approved.

The post Foreign home ownership may rise to 99 years appeared first on Dutch Business Association Vietnam.

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New state budget rules start today

Starting today, establishments that draw funds from the State budget will have to publicise their budget estimates and balance every quarter under a new Circular of the Ministry of Finance. Establishments can publicise the information at meetings, post the information at their headquarters or issue publications on their budget estimates and balance.

The post New state budget rules start today appeared first on Dutch Business Association Vietnam.

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New regulations on temporary import, re-export

The Ministry of Industry and Trade has issued Circular No. 11/2017/TT-BCT on temporary import, re-export, temporary export, re-import, and transshipment of goods. Goods for temporary import and re-export will be temporarily imported and re-exported through international and main border gates.

The post New regulations on temporary import, re-export appeared first on Dutch Business Association Vietnam.

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Vietnam: 30 years of FDI and counting

Vietnam's Ministry of Planning and Investment (MPI) is drawing up a report summing up 30 years of foreign direct investment (FDI) since approval of the national Law on Foreign Investment, looking back at the impact of opening the country's doors to multinational companies.

The post Vietnam: 30 years of FDI and counting appeared first on Dutch Business Association Vietnam.

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Cultivation growth predicted to reach 2.05% in 2017

The cultivation sector is expected to grow up to 2.05% in 2017 thanks to bright prospects in major export markets, according to the Cultivation Department under the Ministry of Agriculture and Rural Development (MARD).

The post Cultivation growth predicted to reach 2.05% in 2017 appeared first on Dutch Business Association Vietnam.

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Italy's newspaper: Vietnam makes leaps toward developed status

Under the title "Vietnam's place in the Asian Century", the newspaper underlined that from a war-ravaged and impoverished country just a few decades ago, Vietnam is now associated with humming factories, a swelling middle-class, and its emergence as the new export wonder of Asia.

The post Italy's newspaper: Vietnam makes leaps toward developed status appeared first on Dutch Business Association Vietnam.

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Vietnam tops ASEAN in animal feed production

Vietnam is currently ASEAN's biggest animal feed producer and the tenth biggest in the world, according to the Husbandry Department, Ministry of Agriculture and Rural Development. The country has more than 300 animal feed factories and over 200 facilities producing supplementary food, with total capacity of 31 million tonnes per year.

The post Vietnam tops ASEAN in animal feed production appeared first on Dutch Business Association Vietnam.

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Spurred on by AEC, ASEAN capital flirts with Vietnam

Capital movements across the Southeast Asian region have begun to take shape, evidenced by the growing interest in international investment. It is predicted that Vietnam may well become a net beneficiary of such capital inflows in the years to come.

The post Spurred on by AEC, ASEAN capital flirts with Vietnam appeared first on Dutch Business Association Vietnam.

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Stable economy forecast for second half of 2017

According to the forecast of the National Centre for Socio-Economic Information and Forecast under the Ministry of Planning and Investment, economic growth in the remaining months will be fuelled by the improving global economy, investment climate, prospects of international integration and upbeat mood of businesses.

The post Stable economy forecast for second half of 2017 appeared first on Dutch Business Association Vietnam.

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Da Nang lists 68 PPP projects for investment

The central city of Da Nang has listed 68 Public-Private Partnership (PPP) projects, 22 of them in the hi-tech sector, calling for investment from domestic and foreign businesses in the 2017-20 period. The projects are in the fields of education and training, health care, tourism and services, trade, infrastructure, hi-tech farming, entertainment and environment.

The post Da Nang lists 68 PPP projects for investment appeared first on Dutch Business Association Vietnam.

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Playing golf can add five years to your life

"Evidence suggests golfers live longer than non-golfers, enjoying improvements in cholesterol levels, body composition, wellness, self-esteem and self-worth," he said in the report's release.

The post Playing golf can add five years to your life appeared first on Dutch Business Association Vietnam.

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Why golfers get ahead

Probably not. The same study found that although golfing bosses are paid more, they do not produce better results for shareholders. One explanation would be that they are buttering up members of the compensation committee by inviting them to play wonderful courses like Wentworth. More likely, the correlation is pure chance.

The post Why golfers get ahead appeared first on Dutch Business Association Vietnam.

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Vietnam becomes leading exporter of bags, suitcases

Currently, Vietnam ranks fifth among top ten exporters of bags and suitcases in the world, accounting for 5.4% the global supply, according to the Vietnam Leather, Footwear and Handbag Association (LEFASO).

The post Vietnam becomes leading exporter of bags, suitcases appeared first on Dutch Business Association Vietnam.

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HCM City forecast to become Asia's fastest growing economy by 2021

Ho Chi Minh City will become the second fastest growing economy in Asia by 2021, according to a study by the UK-based Oxford Economics, reported Bloomberg. In the next five years, HCMC's economy is expected to grow by 8 percent each year, according to the study, which ranked Asia's 30 largest cities, Bloomberg cited the study as saying.

The post HCM City forecast to become Asia's fastest growing economy by 2021 appeared first on Dutch Business Association Vietnam.

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APEC officials highlight competition chapters in FTAs/EPAs

Officials from member economies of the Asia-Pacific Economic Cooperation (APEC) forum have highlighted the benefits of establishing competition chapters in free trade agreements (FTAs) and Economic Partnership Agreements (EPAs).

The post APEC officials highlight competition chapters in FTAs/EPAs appeared first on Dutch Business Association Vietnam.

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Capital for high-tech agriculture

High-tech agriculture is a key direction for economic development. A credit package of US$4.4 million for high-tech and clean agriculture is considered a nudge for agricultural enterprises to expand production. But there remain obstacles to accessing the credit package.

The post Capital for high-tech agriculture appeared first on Dutch Business Association Vietnam.

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