20:59 (GMT +7) - Tuesday 20/02/2018
Bit part players

Business 20/2/2018

Bit part players

More is required for Vietnamese enterprises to fully benefit from increasing levels of foreign investment.

Where to watch Tet fireworks

Head to the following locations to watch dazzling fireworks displays from midnight on Tet Eve, February 15.

Constructon of Toyoda Gosei auto parts factory underway

Thai Binh factory expected to come into operation in 2019.

Optimism surrounds Vietnam-China trade

Solid 2017 bridges trade deficit with high hopes that greater exports will continue, trade counselor conference hears.

Yellow Ochna Festival to brighten up Da Nang

A "forest" of yellow ochna will bring a festive Tet to the central city.

Continuing favor

Growth in the soft drink industry is expected to continue upwards into the foreseeable future though certain problems...

Boutique concept

Hôtel des Arts Saigon is a lifestyle, boutique property with a story to tell.

Warburg Pincus teams up with Becamex

Affiliates of both create joint venture developing institutional-grade industrial and logistics properties around...

Out of pocket

Getting home for Tet is no easy task for those who now live away from their homeland.

Fruit & vegetable trade up in January

Exports at $320 million and imports $160 million in first month of new year, up 37% and 57% year-on-year.

Toyota posts high January sales

Vios, Innova and Corolla Altis count among best-sellers in Vietnam during the month.

Business 20/2/2018

Bit part players

Bit part players

More is required for Vietnamese enterprises to fully benefit from increasing levels of foreign investment.

Facts & Figures

$5.2 billion in overseas remittances are estimated to have gone to Ho Chi Minh City in 2017, up 4.5 per cent year-on-year, according to the State Bank of Vietnam. The figure stood at $4.55 billion in the first eleven months of the year, with 60 per cent coming from the US and over 19 per cent from Europe.

$4 billion has been invested in a smart city project along the Nhat Tan-Noi Bai route in Hanoi, with construction expected to begin in the first quarter of the new year, a meeting held last month between the Chairman of the Hanoi People’s Committee, Mr. Nguyen Duc Chung, President and CEO of Japan’s Sumitomo Corporation, Mr. Kuniharu Nakamura, and Chairwoman of the BRG Group, Ms. Nguyen Thi Nga, heard.

$835 million came from State divestment activities in 2017 and is expected to be added to the State budget. The figure is calculated based on the par value of the portion of State capital expected to be withdrawn from 135 enterprises during the year.

$61 million in investment has gone to an FPT University campus and software park inside a complex in the Mekong Delta city of Can Tho, construction of which has begun. Covering 5.2 ha and straddling Ninh Kieu and Binh Thuy districts, FPT University and the FPT Can Tho Software Park complex will include an office building and a lecture hall in the first phase.

$20 million will be invested by USG Boral, a Malaysia-based plasterboard manufacturer, to build a plant at the Hiep Phuoc Industrial Zone in Ho Chi Minh City to expand its production in Vietnam. The new facility is set to increase production capacity by 17 million sq m to 47 million sq m once in operation in September 2019.

$10 million worth of apartments for lease and facilities providing services for Japanese employees at the Dong Van I Industrial Park in the northern province of Ha Nam has been opened by Japan’s Fuji Engineering Vietnam Co., Ltd.

$7 million in a five-year coffee industry development project has been approved by the Ministry of Agriculture and Rural Development (MARD), aimed at improving coffee quality, developing a premium Vietnamese brand, and expanding export markets.

$2 million was spent by Jardine Cycle & Carriage (JC&C) on acquiring an additional 1.1 million shares in the Refrigeration Electrical Engineering Corp. (REE). JC&C previously spent over $1 billion on acquiring a large stake in Vinamilk.

Commodities

Crude Oil: $59.48 ? -0.27%
Copper: $2.64 ? 0.38%
Sugar: $134.30 ? 1.21%
Coffee: $12.05 ? -2.19%
Gas: $2.75 ? 0.00%
Corn: $375.25 ? -1.83%

Source: vietstock

Exchange Rates

Unit: VND

NABuySell
EURNANA
GBPNANA
JPYNANA
SGDNANA
USDNANA

Source: Vietcombank

Gold

Unit: milion VND/ounce

Province Buy Sell
SJC NA NA
Ring NA NA

Source: SJC

Weather

Hanoi, vn

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Sky is Clear

NA m/s Light breeze

South-southwest (NA)

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BUSINESS SPOTLIGHT

PRESS WATCH

  • February 13
    February 13

    VET's round-up of news from Vietnamese media for February 13.

  • February 12
    February 12

    VET's round-up of news from Vietnamese media for February 12.

Editor’s letter

Vietnam celebrated the 30th anniversary of its Law on Foreign Direct Investment in December, which was an historic milestone on the path towards development after its “doi moi” economic reforms were introduced in 1986. This month we have a Special Report looking back on the 30 years since the first foreign investors were welcomed to the country... (read more)

The Guide this February looks at all things Tet: the special food, how it was in the old days, what foreigners think about it, the efforts of many to retain traditions in the modern world...