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September 27

Released at: 12:30, 27/09/2017 PRESS WATCH

September 27

VET's round-up of news from Vietnamese media for September 27.

Huawei among best global brands

Huawei rose to No. 70 on the Best Global Brands 2017 rankings from Interbrand, a global brand consultancy. It also saw its brand value grow 14 per cent against 2016, reaching $6.6 billion. It is among 16 brands to enjoy double-digit growth in brand value in the Top 100.

Spending on fresh food up 17%

An urban household now spends an average of VND1.1 million ($478) on fresh food, or three times the spending on fast-moving consumer goods (FMCG), according to market researchers Kantar Worldpanel. Spending on fresh food has increased 17 per cent year-on-year, according to a report on the FMCG market issued on September 25 after Kantar Worldpanel conducted a 12-week market survey in four large cities in Vietnam: Ho Chi Minh City, Hanoi, Da Nang, and Can Tho.

FDI up 35%

Vietnam attracted $25.4 billion in foreign direct investment (FDI) in the first nine months of this year, up 34.3 per cent year-on-year, according to the Ministry of Planning and Investment. $14.5 billion went to 1,844 new projects while $6.75 billion was added to 878 existing projects.

Viettel Global turns project around

The Viettel Global Investment JSC has released its financial report for the first half of 2017, with revenue at VND8.7 trillion ($383.4 million), an increase of nearly 25 per cent year-on-year, with pre-tax profit at VND651 billion ($28.7 million), compared to losses of nearly VND1.8 trillion ($79.2 million) in the same period last year.

Miniso targets 200 stores in Vietnam within five years

Miniso expects to open 200 stores in Vietnam over the next five years. The company opens 80-100 new stores each month around the world. Its ambition is to have 6,000 stores globally by 2020. In 2015, it saw turnover of $750 million, which doubled in 2016 to $1.5 billion.

9M foreign tourist arrivals increase nearly 30%

According to the General Statistics Office, foreign tourist arrivals Vietnam reached more than 9.4 million in the first nine months of this year, a year-on-year increase of 28.4 per cent. The tourism sector earned VND376 trillion ($16.54 billion) in revenue, up 26.5 per cent. The number of domestic tourists hit 57.9 million from January to September.

VAMC purchases $15bn in bad debts this year

As at August 31, the Vietnam Asset Management Company (VAMC) had purchased 26,110 bad debts this year from 16,197 customers at a purchase price of VND266.3 billion (nearly $15 billion). From 2013 to August 2017, it cooperated with credit institutions to sell 139 debts from 59 customers at a selling price of VND7.8 trillion ($339 million), and sold collateral at a selling price of VND11 trillion ($484 million).

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