19:47 (GMT +7) - Monday 10/12/2018


November 7

Released at: 16:00, 07/11/2017 PRESS WATCH

November 7

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

Agribank selling financial leasing company

Agribank has announced the sale of its 100-per-cent-owned Financial Leasing Company 1 (ALCI). The company has charter capital of VND200 billion ($8.8 million), with main activities being financial leasing and related operations.

Retail sales on the up

Vietnam recorded a retail sales of VND3,258 trillion ($106.9 billion) in the first ten months of this year. Retail sales growth and consumer services accounted for 74.9 per cent of total retail sales. Residential, restaurant, and catering services were estimated at $18 billion, or 12.5 per cent of total retail sales, and were a 12.5 per cent increase over the same period of 2016.

HP acquires Samsung Electronics’ printer business

HP has completed the acquisition of Samsung Electronics’ printer business in a $1.05 billion deal. The acquisition, HP said, will expand its product line and help disrupt the $55-billion A3 business printer market with multifunction printing technologies and strengthen its leading position in the A4 laser printer segment. As part of the deal, HP will have access to more than 6,500 printing patents from Samsung and a workforce of nearly 1,300 researchers and engineers proficient in laser technology, electronic imaging, supplies and accessories.

Japan’s Koike-ya in Vietnam

Japanese snack food maker Koike-ya Inc. has arrived in Vietnam, opening a plant in the southern province of Dong Nai. At the Long Duc Industrial Park, the plant is the first of Koike-ya overseas, though its products are present in many foreign markets like China, Taiwan, Singapore, Malaysia, Thailand, Canada and the US. A leader from Koike-ya said the plant cost $8.7 million. Products will target local customers aged from 15 to 29 in the short term.

SY opens rep office in Bac Lieu

The SY Group from South Korea has opened a representative office in Bac Lieu city in the Mekong Delta province of Bac Lieu. SY operates in multiple industries, such as construction materials, architecture, color-coated steel, and energy. At the opening ceremony for the office last week, Deputy Director of the Bac Lieu Department of Planning and Investment, Tran Thanh Hai, said the province will provide the best possible conditions for the group and that it supports all businesses and investors, since their development also means growth for the locality.

Bank assets up 8.79% this year

Total assets in Vietnam’s banking system reached more than VND9,250 trillion ($407.5 billion) as at the end of August, an increase of 8.79 per cent over the beginning of the year, figures from the State Bank of Vietnam (SBV) show. The assets of seven State-owned banks rose 8.69 per cent to nearly VND4,200 trillion ($182.6 billion), accounting for 45.4 per cent of the total. State-owned banks where the State holds the majority stake include Agribank, Vietcombank, VietinBank, the Bank for Investment and Development of Vietnam (BIDV), Vietnam Construction Bank, GPBank, and Ocean Bank.

Mobile payments heading ever upwards

Vietnam has over 41 commercial banks providing payment services via mobile phones with high growth in the volume and value of transactions, a representative from the Payment Department at the State Bank of Vietnam told the 2014 E-Payment Forum. In the first nine months of the year, the number of mobile phone transactions exceeded 90 million with transactions valued at over VND423 trillion ($18.5 billion), up 93 per cent and 139 per cent compared to 2016 and 153 per cent and 316 per cent compared to 2015.

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