09:40 (GMT +7) - Thursday 13/12/2018

PRESS WATCH

March 7

Released at: 10:21, 07/03/2018 PRESS WATCH

March 7

VET's round-up of news from Vietnamese media for March 7.


TPP replacement to be signed on March 8

The Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) is scheduled to be inked in Chile on March 8 by ministers from the eleven signatories. The trade pact is set to take effect at the beginning of 2019 after it is ratified by at least six member countries. The eleven CPTPP economies make up about 13 per cent of global GDP.


Skechers may produce shoes in Hai Duong

Skechers USA, a major footwear maker based in California, is studying a plan to invest in Vietnam in a project that will need some 20,000 workers. The project is good news for the local footwear industry after a slowdown in 2017. Skechers, a heavyweight rival to the two global giants Nike and Adidas, sold more than 200 million pairs last year and now seeks to shift investment from China to Vietnam. The firm was advised by the Vietnam Leather, Footwear and Handbag Association (LEFASO) to set up its first facility in northern Hai Duong province with investment of between $700 million and $1 billion.

Binh Dinh looks at high-tech shrimp farming

The south-central province of Binh Dinh is carrying out a project on high-tech shrimp farming to raise export value. The Provincial People’s Committee has zoned off two areas for shrimp farming in brackish water covering 612 ha, including one area of 206 ha in Cat Hai and Cat Thanh communes, Phu Cat district, and another in My Thanh commune, Phu My district. A project on high-tech shrimp farming in glasshouses is being implemented by the Viet Uc - Phu My Ltd Company on a total area of more than 116 ha in My Thanh high-tech agricultural zone. The company plans to start raising shrimp in March with total output at 8,400 tons per year.


FLC to buy 24 Airbus A321neo for Bamboo Airlines

The FLC Group decided to order 24 A321neo aircraft from Airbus at a meeting at FLC headquarters on March 6, revolving around an agreement to buy aircraft related to Bamboo Airways. Viet Bamboo Airlines, with charter capital of VND700 billion ($30.7 million), is a wholly-owned subsidiary of Bamboo Airways, which was established in 2017 as a subsidiary of FLC. Bamboo Airways aims to operate direct international flights from and to Vietnam.


Central Group to expand in Vietnam

The Central Group, Thailand’s largest retailer, plans to invest some $1.51 billion to expand its store network at home and in Vietnam this year, in a bid to boost sales by 14 per cent for the year, according to the company’s CEO Tos Chirativat. The group aims to raise its network to over 7,500 stores in Thailand by 2020 from the current 4,970 and add more than 500 stores to reach around 750 stores in Vietnam in the same period. Central Group, which has a footprint in Europe and Vietnam, also expects to open stores in Malaysia in the fourth quarter of this year.

FMCG up 5.4% in 2017

Vietnam’s fast-moving consumer goods (FMCG) market, measured in traditional trade channels, increased 5.4 per cent year-on-year in 2017 compared to 4.9 per cent in 2016, despite a dip in the last quarter of the year, a report reveals. Growth slowed in the fourth quarter of last year, to just 0.5 per cent, versus 6.4 per cent in the third quarter, according to the Nielsen Quarterly Market Pulse report released by Nielsen Vietnam.


Amazon to open up platforms in Vietnam

US e-commerce giant Amazon is set to join Vietnam’s fast-growing market this month by opening up its platforms to local small and medium-sized enterprises. The company is expected to sign a deal with the Vietnam E-Commerce Association at an e-commerce forum in Hanoi on March 14. The deal was discussed at a meeting late last year between the association and Amazon, the world’s most valuable brand at $150 billion, according to Brand Finance Global Ranking.

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