Vietnam: Banks announce impressive profits in first half of 2019

Banks announce impressive profits in first half of 2019 VNS/VNA/VOV Domestic banks have unveiled positive business performance results in the first half of this year, with some new records being set. Among the group of large-sized banks, Vietcombank's pre-tax profit hit a record high of more than 11.1 trillion VND (476.39 million USD) in the first half of 2019, meeting 54% of the bank's... View Article The post Banks announce impressive profits in first half of 2019 appeared first on Dutch Business Association in Vietnam. Lees verder Vietnam steps up share sale plans to foreign investors Hanoitimes/VOV Vietnam's ratification of the CPTPP and the EVFTA compels the country to liberalize the state sector. The government is taking financial investment promotion in overseas markets and improving legal regulations to facilitate cross-border deals with the aim to boost the divestment from state-owned enterprises (SOEs). According to Chairman of State Capital Investment Corporation Nguyen... View Article The post Vietnam steps up share sale plans to foreign investors appeared first on Dutch Business Association in Vietnam. Lees verder VCCI, EuroCham to help SMEs extract EVFTA gains Vnexpress/VOV SMEs will be counseled on how to benefit the most from the newly-signed EU-Vietnam Free Trade Agreement. Small and medium-sized enterprises (SMEs) are a priority target under the EVFTA, said Vu Tien Loc, president of Vietnam Chamber of Commerce and Industry (VCCI). He was speaking at a conference titled "The EVFTA: What happens next",... View Article The post VCCI, EuroCham to help SMEs extract EVFTA gains appeared first on Dutch Business Association in Vietnam. Lees verder Stakeholders urged to consult arbitrators in PPP project disputes VNS/VNA/VOV Arbitrators need to step in and deal with disputes in public-private-partnership (PPP) projects so economic development will not be disrupted, experts have warned. Vietnam has encouraged PPP projects in recent years to meet the demand for energy and infrastructure development in the context of limited State budget. According to Vice Chairman of the Vietnam... View Article The post Stakeholders urged to consult arbitrators in PPP project disputes appeared first on Dutch Business Association in Vietnam. Lees verder Vietnam's research-based pharmaceutical industry expects high growth VNS/VOV The European Chamber of Commerce in Vietnam (Eurocham) highly values the potential of Vietnam to become a centre for the research-based pharmaceutical industry including production, export and supplies of high quality healthcare services in the ASEAN region. Pharma Group (PG) – the Pharmaceutical Sector Committee of EuroCham, which represents the voice of the international... View Article The post Vietnam's research-based pharmaceutical industry expects high growth appeared first on Dutch Business Association in Vietnam. Lees verder Deputy PM reviews SOEs equitisation, restructuring VNA/VOV Deputy Prime Minister Vuong Dinh Hue chaired a meeting of the Steering Committee for Business Renovation and Development in Hanoi on 8 July to review equitisation, divestment and restructuring of State-owned enterprises (SOEs) and corporate development in the first half and tasks for the remaining months of this year. The committee reported that it... View Article The post Deputy PM reviews SOEs equitisation, restructuring appeared first on Dutch Business Association in Vietnam. Lees verder Rising FDI calls for better supporting industry: experts VNS/VOV The domestic supporting industry needs to improve to take advantage of foreign direct investment (FDI) pouring into Vietnam, experts have urged. In the first six months of the year, Vietnam attracted more than 1,720 new FDI projects with total registered capital of nearly USD7.5 billion, according to the General Department of Statistics. The period also saw USD9.1 billion of FDI being disbursed, an... View Article The post Rising FDI calls for better supporting industry: experts appeared first on Dutch Business Association in Vietnam. Lees verder Enterprises urged to take action amid Industry 4.0 wave VOV Local firms must prepare strategic digital transformation blueprints in line with technological changes emerging from Industry 4.0 in order to keep up with market trends, insiders have noted. A recent survey by the Vietnam Chamber of Commerce and Industry (VCCI) indicates that up to 75% of manufacturing enterprises in Vietnam have run operations based... View Article The post Enterprises urged to take action amid Industry 4.0 wave appeared first on Dutch Business Association in Vietnam. Lees verder Six laws take effect since July VGP A series of new laws on anti-corruption, university education, public security, coast guard, amnesty, and competition shall come into effect since July, 2019. Asset declaration  The 2018 Law on Anti-corruption, comprising of ten chapters and 96 articles, expands the scope of anti-corruption activities to non-State sector. Under the law, cadres, civil servants and public employees... View Article The post Six laws take effect since July appeared first on Dutch Business Association in Vietnam. Lees verder ​​​​​​​​Tetra Pak inaugurates Vietnam's first carton packaging material factory in Binh Duong, creating a regional production hub. Tetra Pak EUR120 million state-of-the-art facility to serve domestic and export market On 3 July, Tetra Pak, the world's leading food processing and packaging solutions company, inaugurates the country's first-ever aseptic carton packaging material factory in Binh Duong, adding Vietnam to its global supply chain map. As Tetra Pak's eighth factory in the Asia Pacific... View Article The post ​​​​​​​​Tetra Pak inaugurates Vietnam's first carton packaging material factory in Binh Duong, creating a regional production hub. appeared first on Dutch Business Association in Vietnam. Lees verder World billionaires have their eyes on Vietnamese key economic sectors Hanoitimes/VOV Vietnam now has to ensure fair competition, national treatment for foreigners and nationals equally as well as no quantitative restrictions in foreign trade. That foreign investors have pumped some huge investments to Vietnamese retail and distribution segment as well as some key economic industries has been a concern for the domestic business community, VietNamNet... View Article The post World billionaires have their eyes on Vietnamese key economic sectors appeared first on Dutch Business Association in Vietnam. Lees verder Ministry tightens supervision to avoid trade sanctions VNS/VNA/VOV Sectors which have seen high growth in the past few years such as wooden furniture, garments and textiles, seafood and steel are being placed under special supervision by the Ministry of Industry and Trade (MoIT) to avoid having high tariffs and trade sanctions imposed by other nations. Minister of Industry and Trade Tran Tuan... View Article The post Ministry tightens supervision to avoid trade sanctions appeared first on Dutch Business Association in Vietnam. Lees verder Banking expert clarifies reasons behind six-month credit growth VOV The soaring credit growth recorded during the first half of 2019 can be attributed to efforts by local firms to complete periodical business reports and some banks' application of Basel II standards, a senior banking expert has claimed. According to the State Bank of Vietnam, the banking sector reported the credit growth of 7.33%... View Article The post Banking expert clarifies reasons behind six-month credit growth appeared first on Dutch Business Association in Vietnam. Lees verder Vietnamese brands try to milk markets across globe VNS/VNA/VOV Vietnamese businesses are further participating in the global value chain and reaching out to the world market. According to experts, State-owned enterprises used to invest mainly in neighbouring markets such as Laos and Cambodia, but things have changed now. Many investments now are made by private enterprises and span many fields from technology and... View Article The post Vietnamese brands try to milk markets across globe appeared first on Dutch Business Association in Vietnam. Lees verder Prompt action needed to take advantage of FTAs VIR/VOV Opportunities provided by free trade agreements (FTAs) will only exist on paper if local authorities and enterprises do not take prompt and concrete actions to take advantage, experts said at a meeting on 10 July in Hanoi. Viet Nam has signed many trade deals with different countries and regions but both local authorities and... View Article The post Prompt action needed to take advantage of FTAs appeared first on Dutch Business Association in Vietnam. Lees verder National oil group's six-month business tops plan VNA/VOV The Vietnam Oil and Gas Group (PVN) has announced it generated a total revenue of 365.5 trillion VND (15.8 billion USD) in the first half of this year, 18% higher than the six-month target and equivalent to 60% of the yearly goal. The PVN contributed 53.5 trillion VND (2.31 billion USD) to the State... View Article The post National oil group's six-month business tops plan appeared first on Dutch Business Association in Vietnam. Lees verder Vietnam hopes for further support in access to ODA: Deputy PM VNA/VOV As official development assistance (ODA) plays an important role in the country's socio-economic development, Vietnam hopes to receive further supports from its partners to diversify capital sources, Deputy Prime Minister and Foreign Minister Pham Binh Minh said on 10 July. He made the remarks while hosting Resident Coordinator of the United Nations in Vietnam... View Article The post Vietnam hopes for further support in access to ODA: Deputy PM appeared first on Dutch Business Association in Vietnam. Lees verder Driving forces for industrial property market sought VOV Infrastructure improvements along with the production shift triggered by US-China trade tensions are set to further leverage growth in industrial production and the domestic industrial property market. The Vietnamese industrial property market, which covers industrial land, ready-built factories, warehouses, and logistics areas, is enjoying a number of signs of strong growth. The occupancy rate... View Article The post Driving forces for industrial property market sought appeared first on Dutch Business Association in Vietnam. Lees verder Exchange rates under less pressure, no sharp fluctuations VOV The increasing process of monetary policy normalization by some of the world's most powerful economies will help to ease pressure on the domestic exchange rate. The Vietnam Institute for Economic and Policy Research (VEPR) made the forecast during a conference to release its macro-economic growth report for the second quarter of 2019. VEPR experts predicted that... View Article The post Exchange rates under less pressure, no sharp fluctuations appeared first on Dutch Business Association in Vietnam. Lees verder Economists: Vietnamese economy could grow by 6.86% in 2019 VNA/VOV Economists have forecast that the Vietnamese economy could grow by 6.86% this year, higher than the 6.6 – 6.8% set by the National Assembly. They made the prediction during a symposium held by the National Centre for Socio-Economic Information and Forecast (NCIF) in Hanoi on July 11 discussing 2019 mid-term economic report.  Speaking at... View Article The post Economists: Vietnamese economy could grow by 6.86% in 2019 appeared first on Dutch Business Association in Vietnam. Lees verder HCM City draws over 3 billion USD in foreign investment in H1 VNA/VOV The southern economic hub of Ho Chi Minh City attracted 3.21 billion USD in foreign direct investment (FDI) in the first six months of 2019, a year-on-year rise of 20%, according to the municipal People's Committee. HCM City granted new investment licences to 598 projects worth over 539 million USD, up 15.8% and 3.6%... View Article The post HCM City draws over 3 billion USD in foreign investment in H1 appeared first on Dutch Business Association in Vietnam. Lees verder HCM City wants to cooperate with European businesses in smart city VNA/VOV Ho Chi Minh City is keen to cooperate with European businesses in building a smart city, Vice Chairman of the municipal People's Committee Tran Vinh Tuyen has said. At a meeting with the European Chamber of Commerce in Vietnam (EuroCham) on 11 July, Tuyen said the city is facing pressing issues such as flooding,... View Article The post HCM City wants to cooperate with European businesses in smart city appeared first on Dutch Business Association in Vietnam. Lees verder