VET's daily round-up of news from Vietnamese media for April 21.
ANZ’s retail operations sold to Shinhan VN
ANZ announced on April 21 that it had reached agreement with Shinhan Vietnam, a subsidiary of South Korea’s Shinhan Financial Group, over the sale of its retail operations in Vietnam. ANZ hopes the transaction will be completed late this year.
Nielsen: FMCG sales in Q1 highest in three years
According to Nielsen’s Fast Moving Consumer Goods (FMCG) Market Pulse report for the first quarter, Vietnam’s FMCG sales recorded a yearly increase of 9.6 per cent, the highest growth for three years. Food saw 13.9 per cent growth; the highest among the six super FMCG categories.
Japanese Kobe cows to be raised in central province
Central Quang Binh province has signed deals with Japanese businesses from Hyogo Prefecture on the latter’s investment to build a 500-ha farm to raise Japanese cows and a 2,200-hectare plot reserved for growing plants to be used as cattle feed.
Japan commits $1.19 billion in loans in FY 2017
Preferential loans from Japan to Vietnam in fiscal year 2017 will amount to JPY130 billion ($1.19 billion), compared with the pledged amount of JPY187.1 billion ($1.75 billion) and a disbursed amount of JPY175.6 billion ($1.6 billion) in the previous fiscal year.
Vietjet Air targets $1.82 billion in 2017 revenue
Shareholders of Vietjet Air agreed at its annual general meeting on April 20 that the low-cost carrier will target revenue of VND42 trillion ($1.82 billion) in 2017, with pre-tax profit of over VND3.6 trillion ($156 million). They also agreed to raise the foreign ownership limit from 30 per cent to 49 per cent.
Vietnam, Iran vow to reach $2 billion in trade
Vietnamese and Iranian leaders have committed all possible support to their businesses to navigate the respective markets and record trade of $2 billion, State President Tran Dai Quang told the Chairman of the Chamber of Commerce, Industries and Mines and Agriculture of Iran, Mr. Gholam Hossein Shafei, during a reception in Hanoi on April 20.
Two million South Korean tourists expected this year
Vietnam is expected to welcome some 2 million South Korean tourists this year, compared with 1.5 million last year. According to the Vietnam National Administration of Tourism, more than 500,000 South Koreans visited the country in the first three months of the year.
Bankrupt creditors may be aided to refund customers
Bankrupt financial and credit institutions may have to refund their individual customers using support loans from the State Bank of Vietnam (SBV) and other financial firms, according to a draft SBV law on the restructuring of credit institutions and bad debt settlement.