Vinhomes to list on HOSE

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Vinhomes JSC, an arm of the real estate conglomerate Vingroup, has registered to list nearly 2.7 billion shares on the HCM Stock Exchange (HOSE).

HOSE announced receiving the listing registration documents for the shares of Vinhomes on April 2.

Saigon Securities Incorporation (SSI) will be the listing advisor for Vinhomes, according to HOSE.

Vinhomes operates in the high-end residential property segment, offering luxury serviced apartments and villas developed by Vingroup JSC.

According to HOSE, Vinhomes has chartered capital of nearly VND26.8 trillion (US$1.2 billion). As of February 8, Vingroup owned 69.67 per cent of Vinhomes’ charter capital.

Vingroup is a multi-disciplinary business group, operating in the segments of real estate, retail, hotel and leisure services, education, healthcare and heavy industry. Real estate is the core business of this corporation.

Vingroup shares, listed on HOSE under the code VIC, hit a new peak of VND127,500 on April 4. On the same day, the market capitalisation of the group reached $14.7 billion.

Commercial real estate contributed nearly 70 per cent of Vingroup’s total revenue of more than VND90 trillion in 2017.

According to Vingroup, revenue earned from the real estate segment increased sharply in the past year, by more than 33 per cent, thanks to the completion and handing over of property assets for projects such as Park Hill, Vinpearl Phu Quoc, Vinpearl Nha Trang, Vinhomes Central Park and Vinhomes Riverside – The Harmony.

Vingroup has developed real estate projects in many provinces and cities across the country. However, the projects under the banner of this corporation are mainly located in Ha Noi, such as Royal City, Times City and Park Hill, and in HCM City, such as Vinhomes Central Park and Vinhomes Golden River.

Previously, in November 2017, Vingroup also submitted the listing registration documents for the shares of its retail arm Vincom Retail (VRE) to HOSE, with a total listed volume of 1.9 billion shares.

Vincom Retail is the largest mall operator in Viet Nam, with a total area of some 1.2 million sq. m by the end of 2017.

- BIZHUB

Vietnam has huge e-commerce potential

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Vietnam’s e-commerce is valued at USD5bn and may reach USD10bn in the next four years, according to the Vietnam E-commerce Association (Vecom)

According to Vecom, Vietnam experienced over 25% growth in e-commerce last year and may have the same growth for 2018-2020 period. Revenue growth of retail e-commerce alone last year was 35%. The revenue growth rate of many delivery companies was from 62% to 200%.

Statistics from the National Payment Corporation of Vietnam show that the number of domestic transactions had a growth rate of 50% last year and growth rate of the total values was 75%. The affiliate marketing also experienced impressive growth as high as 200%.

A recent survey by the BSA centre showed that more people are shopping online, especially young people who are familiar with numerous shopping sites such as Lazada, Shopee and Tiki. Only 0.9% of asked people chose online shopping last year but the figure went up to 2.7% in the 2018 survey.

According to Nielsen, 23 million Vietnamese people often go online shopping and this number will continue to rise.

Vietnam still has many potential markets. Two biggest cities which are Hanoi and HCM City have 154,221 and 159,379 websites with .vn domain respectively. Other cities have much fewer websites. Danang has 7,685 and Thanh Hoa has 3,324 websites.

Nguyen Ngoc Dung, Vice President of Vecom, said it was because citizens in Hanoi and HCM City can access the internet and online-shopping more easily.

Dang Thuy Ha, Director of Consumer Insight of Nielsen Vietnam, said many people were still worried about the quality of the products and delivery time. The interfaces of many websites are also not user-friendly.

Both Alibaba and Amazon have launched their services in Vietnam, showing a positive to the customers and the developing market. However, domestic companies must also shape up for competition.

“The sellers must be honest when advertising. The websites must look beautiful. They must be user-friendly and easy to use to keep customers,” she said.

Source: Dtinews

Vietnam is not only partner but also friend: Australian assistant minister

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The third Taste of Australia, an annual event that promotes Australian food and beverages, has begun and this year also marks the 45th anniversary of the establishment of diplomatic relations between the two countries. We speak with Australia’s Assistant Minister for Trade, Tourism and Investment Mark Coulton.

After 45 years of relations, what is the status of trade, investment and tourism between the two nations?

I believe that we as two nations are as close together as we have ever been. After 45 years of diplomatic relations, we are now parts of ASEAN, we are part of the TPP11, but we also got our own strategic partnership signed by Prime Minister Nguyễn Xuân Phúc in Australia two weeks ago. Our trade is growing, the number of students from either country going either way is at a high level. I think the two countries have become close friends over the years. Three hundred thousand people in Australia have direct Vietnamese heritage; we have these direct family links.

Tourism from Australia is growing rapidly. People I talked to who visited Việt Nam are very excited and enthusiastic about the Vietnamese holiday experience. Việt Nam has a really solid reputation in Australia as a tourist destination. We would like to see more as Việt Nam’s economy grows and more Vietnamese have higher incomes and can travel more. We encourage international tourists to go not to just big cities but also regional Australia. We have more work to do, but I think there is great potential.

We are seeing investment now. From my short visit over the last couple of days I see that there is a belief that there could be more investment from Australia. Australia has already had many successful companies doing businesses in Việt Nam. They are very fast-developed companies that are employing lots of local people. There is a lot more we can do to encourage Australian companies to invest here. It would be beneficial for both.

I am very comfortable here. Our relationship has matured, we are now not only partners but also friends. When people trust each other, that is a great basis for building trade and security. As we have seen in the last couple of weeks the trade relationship between countries like China and the US has been quite volatile. It is important that Việt Nam and Australia are seen as sensible trading nations and an example of a relationship built on trust.

Can you comment on the future of Vietnamese markets for Australian products?

Last night I was at the Taste of Australia gala, it was interesting to see a lot of Vietnamese dishes made with Australian produce. That is our strength: we can produce a lot of high-quality produce and high quality wheat or cotton. There is a real opportunity to grow those markets too.

Vietnamese fruits like longan and lychee are coming to Australia. How can more fruits enter Australia?

We are working on those fruits at the moment. Australia doesn’t have a lot of diseases that other countries have. We are very particular about the process that we put in place for imports. Longans are going through risk assessment. Hopefully for both of us these fruits can be imported and pose no risk to Australia.

Taste of Australia is an annual Việt Nam-wide celebration that promotes Australian food, beverages, culture and design to Vietnamese industry and consumers through a range of business, trade and public events. It highlights Australia’s vibrant culinary culture, world-class culinary education, and innovative agricultural expertise and the country’s reputation as a supplier of high-quality, safe and sustainable food and beverages.

Taste of Australia is a partnership between the Australian Government and producers, distributors, retailers, restaurants and organisations in both Việt Nam and Australia that showcases the best Australia has to offer.

The event, led by Vietnamese-Australian celebrity chef Luke Nguyen, takes place across Việt Nam’s major cities including HCM City, Hà Nội, Nha Trang and Danang from early April until the 22nd.

- VNS

E-commerce expected to grow strongly in 2018

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The e-commerce market has taken off in Vietnam thanks to booming internet usage and smartphone ownership, along with massive investments from key retail players, local media reported.

Vietnam is one of the world’s fastest growing e-commerce countries, according to Lai Viet Anh, Deputy Director of Vietnam E-commerce and Information Technology Agency (Vecita) under the Ministry of Industry and Trade. The country’s e-commerce is growing 35 percent per year, 2.5 times faster than Japan, he said.

The number of Vietnamese businesses capable of taking advantage of the internet and technology has grown 2.1 times faster than those with less use of the internet.

Small- and medium-sized enterprises (SMEs) that spend more than 30 percent of their budget on technological innovation are growing nine times faster than those spending less than 10 percent of their budget.

Vietnam’s e-commerce retail sales growth in the 2016-20 period is estimated at 20 percent per year, and the country’s total retail e-commerce sales is expected to reach 10 billion USD by 2020, Anh said.

However, e-commerce has faced several barriers deterring its sustainable development, including low consumer trust in products and services, and worries over online payment security.

In addition, most Vietnamese e-commerce websites provide only basic services, such as information about products and modes of payment. Services such as digital marketing optimisation and connecting online with offline sales need to be added.

Logistics is expected to be a game changer for the Vietnamese e-commerce market in 2018 as new entrants are coming in, and existing operators are expanding to improve their delivery services.

According to Kantar Worldpanel, a global expert in shoppers’ behaviour, the percentage of e-commerce shoppers grew from 5.4 percent to 8.8 percent in the largest four cities last year alone.

In light of this trend, many foreign logistics providers and e-commerce operators are making efforts not to miss an opportunity to provide e-logistics and meet the rapidly growing demand.

As e-commerce is growing at a robust pace, logistics providers have to come up with new business models to deal with a soaring number of frequent and small-size orders. They are investing in technology and infrastructure to counter the challenges from traffic congestion to failed deliveries, as well as the higher logistical costs in rural areas.

These dynamics will fuel some of 2018’s most important trends including customer collection points, designed for customers to receive an order from a designated collection point. Such collection points allow customers to pick up their orders at any time, without being required to wait at home.

DHL eCommerce launched a nationwide network of service points in Vietnam last November, with a plan to expand up to over 1,000 outlets by the end of next year. Similar to the concept of customer collection points, the firm uses the shop-in-shop model by opening DHL eCommerce counters in grocery stores, minimarts, and coffee shops.

Giao Hang Nhanh Company (GHN) also plans to extend its network of customer collection points in local shops, convenience stores and buildings. The last-mile delivery startup plans to reach 1,500 outlets by the end of 2018.

In the third quarter of 2017, Lazada launched its first automated sorting centre in HCM City, with its second centre was opened in the first quarter of 2018 in Hanoi. Lazada will also upgrade its existing sorting centre next year, tripling its sorting capacity.

-VNA

No casualties

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There were no casualties in the Greenlines DP C3 ferry boat capsizing at Tắc Suất Habour in Cần Giờ District. According to Trần Quang Lâm, deputy director of HCM City Department of Transport, by yesterday evening the salvage operation was still underway.

The cause of the accident has not been identified. Meanwhile, other ferry boats connecting the two cities of Vũng Tàu and HMC are running normally.

Trần Song Hải, director of Greenlines DP Company, said that the boat was in good condition and its registration number was still valid at the time of the accident.

Tac Quat port on Google Map
- VNS

Alab Pilipinas Completes Sweep Over Saigon Heat, Books Ticket to Semis

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After two grueling games, San Miguel Alab Pilipinas are on their way to the Semifinals.

Alab completed a series sweep of the Saigon Heat, taking a 96-85 Game 2 victory on Saturday at the CIS Arena in Vietnam.

The Philippines now sets up a semis date with the defending champions, Hong Kong Eastern Basketball Team.

Renaldo Balkman fought through foul trouble to finish with 21 points and 12 rebounds. Alab also found a spark from their bench as Lawrence Domingo flourished with a season-high 21 points, missing just one field goal of his 10 attempts.

Game 2 was marred with a ton of intensity and physicality, similar to their first game last Sunday in the Philippines. The Heat provided a gallant effort as they refused to bow out of the playoffs easily.

Maxie Esho scored 14 of his 20 points in the first quarter, setting the pace for his team.

However, the turning point of the contest was a huge second half rally by the visiting squad. Alab found their rhythm in the third period, outscoring the Heat, 27-17.

From then on, Alab Pilipinas poured it on, leading by as much as 15 points. Ray Parks, Justin Brownlee, and Domingo took turns in pummeling their opponent.

The Heat would not quit till the dying seconds in front of their raucous home crowd but Alab had an answer for every run.

Akeem Scott tried to keep his team afloat all game long as he finished with 22 points and 6 rebounds.

Alab Pilipinas will take on Hong Kong Eastern on Wednesday, April 11.

- ABL

NISHIZAWAARCHITECTS’ pizzeria catches the rich local color of saigon

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Saigon, or ho chi minh city, is a metropolis rich in history, and this reflects in its diverse and colorful architecture. one needs only observe the ben thanh market, a landmark and one of the earliest surviving structures in the city. it has changed much over the years, encompassing new uses for the inhabitants with new interests. these days for instance, the people of saigon have developed a taste for pizza. so NISHIZAWAARCHITECTS designed this pizza place in the historic market center of town. just like taste in food, the ornamentation too has changed; the original symbolic tiles were replaced with clunky red metal ones, which give the building a drastic new impression. this different use of material marks the city’s striving for something new.

image by hiroyuki oki (also main image)

with this recent work, NISHIZAWAARCHITECTS shows that something new doesn’t have to replace something old. this restoration project creates something new that embellishes the old. this pizzeria, called pizza 4P’s, plays with the notion of merging traditional and modern styles. NISHIZAWAARCHITECTS speaks of the design process for this project that required insight of the unique south-east-asian city. they explain how they learned of siagon’s ‘urban intelligence‘ which, unlike many european cities, ‘intuitively manages to preserve its historical records and simultaneously adapt the urban form to contemporary functions or lifestyles.’

image by hiroyuki oki

to create a space that most effectively uses the local environment, the architects had to drastically restore the façade, which had been covered with absurd advertisements. the designers wanted to revert back the structure’s original components, which were cluttered by partitioned layers. the decorative walls hide the true essence of the building, and removing them clarified the space, giving it a new serenity. opening it yet further, they created a sort of loggia (an interior deck) with framed views of the city.

the colorful city outside, including the new red metal tiles, merges with the interior bringing its rich colors into the pizzeria. the architect describes them as melting together, just as the old architectural elements melt with the new, this restaurant embraces ho chi minh city’s eclectic vibrant urban landscape. a large part of this update was accomplished by effective use of material including new interior transparent dividers, constructed of about 1,000 pieces of tempered glass. transforming the space’s relation to the outside, once again refracts the light from the outside in new beautiful ways.

image by NISHIZAWAARCHITECTS

image by hiroyuki oki

image by hiroyuki oki

image by NISHIZAWAARCHITECTS

image by NISHIZAWAARCHITECTS

image by hiroyuki oki

project info:

name: ben thanh restaurant
architects: NISHIZAWAARCHITECTS
completion year: 2017
location: district 1, ho chi minh city, vietnam
floor area: 440 sqm
photography: hiroyuki oki, NISHIZAWAARCHITECTS
architects in charge: shunri nishizawa, vũ ngọc tâm nhi, nguyễn đỗ hồng quân
contractor: trung long company
manufacturers / products: INAX, toto, philips
client: pizza 4P’s

- designboom.

Japan shuts out Vietnam in Women’s Asian Cup opener

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Defending champion Japan took an early lead in its group at the Women’s Asian Cup with a 4-0 shutout of Vietnam on Saturday.

Kumi Yokoyama opened the scoring in the third minute at King Abdullah II Stadium, and later goals by Emi Nakajima, Mana Iwabuchi, and Mina Tanaka earned Nadeshiko Japan three points.

“It’s a good start. If I’m being greedy, I wanted a few more goals, but four is enough of a harvest,” manager Asako Takakura said. “But there’s still more to go. We’ll give it everything (in the next match).”

In the other Group B match, Australia and South Korea held each other to a 1-1 draw.

The Women’s Asian Cup serves as the final stage of Asian qualification for the 2019 World Cup in France, with the top five teams qualifying.

Japan faces South Korea on Tuesday.

- Amman/ Japan Times

Honor World Carnival is Coming to Vietnam

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Honor, a leading smartphone e-brand, today announced its biggest sales event of the year, Honor World Carnival, will start this week to celebrate its overwhelming success in overseas markets during Q1 2018.

According to sales figures as of March 25, Honor’s sales outside of Chinaalmost doubled in the first quarter of 2018. To thank fans for their support, Honor World Carnival will offer an unmatched US$270 millionin cumulative savings to consumers. The discounts will be available across tens of Honor’s global markets including Vietnam, one of the key markets in South East Asia for Honor.

“We want to thank our fans and consumers all around the world for helping us to succeed as a leading e-brand. We are offering unparalleled deals this year for Honor World Carnival,” said Mr. George Zhao, President of Honor. “Honor World Carnival is part of our longstanding dedication to providing unrivaled products at unbeatable prices. We look forward to co-creating more fun experiences with our fans in Vietnam and bringing quality products which best fit in the needs of local young generations.”

In Vietnam, Honor World Carnival promotions will start on April 10 on different platforms including LAZADA, Tiki and Shopee. Great deals will be promoted to Vietnamese customers who purchase Honor phones on these sites. Promotion details are as below:

Platform

Date

Time

Product on promotion

Promotion details

LAZADA

April 10, 2018

10am – 12pm

Honor 9 Lite

Voucher valued at 300,000 VND
and the earphones

10am – 12pm

Honor 7X

Voucher valued at 500,000 VND

Tiki

12pm – 1pm

Honor 9 Lite

Voucher valued at 300,000 VND

10am – 12pm

Honor 7X

Voucher valued at 500,000 VND
and the UBL earphones

Shopee

12pm – 6pm

Honor 9 Lite

Voucher valued at 300,000 VND

12pm – 6pm

Honor 7X

Voucher valued at 500,000 VND

With a unique Internet-powered business model, unrivaled product, and unbeatable value, Honor has taken its successful business model from China to the global market. As Mr. George Zhao, President of Honor, announced in a launch event in London last December, Honor aims to become a top-five smartphone brand by 2020. Since then, Honor has continued building up its young, innovative, and trend-setting brand image in the Europe and US markets – the brand received ten “Best of CES” awards in the US in January and collaborated with fashion brand KOCHE at Paris Fashion Week in February.

During this year’s first quarter, Honor has made major progress across Asia, where its massive consumer base represents significant growth potential. In Myanmar, Honor opened its first overseas experience store in January, integrating product experience together with lifestyle trends for a young generation. In Indonesia, Honor set up a local manufacturing line in March, demonstrating its commitment to Indonesian users and the local business environment. In Thailand, Honor signed agreements with over 3,000 stores across the nation, ensuring that Honor fans could purchase devices conveniently at the sales channel of their choice.

According to Sino Market Research, an independent market research firm, Honor surpassed all industry players in China, from January to December, in terms of sales volume and revenue, with shipment volume at almost 55 million, and sales revenue at CNY79 billion (over US$12 billion).

Honor World Carnival was first established in 2014 as a sales event to recognize its global fan base and consumers. This year marks the event’s fifth consecutive year, and the company has more to celebrate than ever, following a spectacular year. Honor World Carnival will offer unprecedented prices, making it the prime time to purchase the brand’s award-winning devices, with deals to be found for almost all Honor products, such as the Honor 6A, Honor 6C, Honor 6X, Honor 7X, Honor 8 Lite, Honor 9, Honor 9 Lite, Honor View10, and more.

About Honor

Honor is a leading smartphone e-brand under the Huawei Group. In line with its slogan, “For the Brave”, the brand was created to meet the needs of digital natives through internet-optimized products that offer superior user experiences, inspire action, foster creativity and empower the young to achieve their dreams. In doing this, Honor has set itself apart by showcasing its own bravery to do things differently and to take the steps needed to usher in the latest technologies and innovations for its customers.

For more information, please visit Honor online at www.hihonor.com

Siemens Gamesa Renewable Energy to deliver 39 megawatt wind farm in Vietnam

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Siemens Gamesa Renewable Energy (SGRE) is to install and commission a 39 MW (megawatt) wind farm in Vietnam.

Located in the southern province of Ninh Thuan, the Dam Nai wind farm’s development has been divided into two phases, SGRE said in a statement Wednesday.

During the first phase, which took place last year, SGRE installed three turbines, which are already operational. The second phase, which has just been signed, will see the business work on 12 more turbines, due to be commissioned by October. SGRE said that it would also be responsible for the operations and maintenance services on the project over the next 10 years.

“We are committed to Vietnam as a market and we want to be our customers’ preferred partner in developing wind power projects,” Alvaro Bilbao, CEO of Siemens Gamesa in the Asia-Pacific region, said in a statement.

Wind energy is becoming an increasingly important source of power. Over 54 gigawatts (GW) of wind power were installed globally in 2016 and cumulative capacity grew by more than 12 percent to hit 486.8 GW, according to an April 2017 report from global trade association the Global Wind Energy Council.

- CNBC

Vietnam rescue dog gives new owner slip in Paris

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A British woman has had an emotional reunion with the puppy she rescued from the dog meat trade in Vietnam – only to see it go missing en route back home.

Amelia Clayton, 22, spent a frantic nine days searching for Marlin after she ran away from a terminal at Charles de Gaulle airport in Paris on 26 March.

Volunteers enlisted on a Facebook page for lost animals helped track the mongrel down to a wooded area nearby.
Amelia, who is returning to the UK with Marlin later, says everyone was crying.
Speaking to the BBC from Paris, she said: “When she realised it was me… she just fell on her back. I picked her up. I was crying my eyes out.

“Then all the volunteers helping the whole nine days came and saw her. God, it was emotional. Everyone got so attached to this story and trying to find her.”

‘Heart-sinking feeling’

Amelia, from Bournemouth, had been working for an animal charity in Hoi An, Vietnam, when she came across Marlin and formed a bond.

“She was chained to a wall for nearly her entire life and pretty much the only contact she ever knew from birth was being hit… She was terrified of people.”

After crowdfunding the costs of Marlin’s veterinary treatment and transportation, the pair left Vietnam at the end of March.

“When we got to Paris after a 16-hour journey. I thought we did it… eight months of planning, making sure everything was perfect. I was so excited.”

But Marlin went missing when left “for literally two minutes” with people looking after other rescue dogs at the airport.

Amelia Clayton with Marlin, Image copyright@ AMELIA CLAYTON

Amelia says there was a “heart sinking feeling” when she returned from fetching her luggage.

“I couldn’t believe it. I was running around the airport crying and screaming her name.

“I spent about nine hours looking for her that night and basically didn’t stop after that.”

Eventually Marlin was spotted in the wooded area close to the terminal.

Amelia said: “I called her for a bit but I didn’t see her. I thought she’d gone again.

“After 10 minutes I saw her head… my heart stopped. I called her name and she just starred at me for ages. Gradually she came closer and closer.”

Marlin is exhausted after her ordeal, and while she picked up a few cuts and bruises is healthy.

Amelia praised the “amazing” people who helped the search.

And she says Marlin is now sleeping and eating a lot and looking forward to a “much happier life”.

- BBC

Vietnam starts next phase of bank reform with TPBank listing

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Nine more in pipeline this year as country seeks foreign investors

Tien Phong Commercial Joint Stock Bank, or TPBank, will debut on Vietnam’s main stock exchange on April 19, the first of 10 domestic banks scheduled to list in 2018.

Out of the 31 lenders ordered by the government to list, 17 banks, including TPBank, have still to do so. The State Bank of Vietnam has told them to meet Basel II international bank capital rules by the end of 2020.

TPBank will list 555 million shares at an offer price of 32,000 dong ($1.40) each on the Ho Chi Minh City Stock Exchange. The lender has raised its foreign ownership limit to 30% ahead of the offering.

Vietnam plans to list and divest nine more state-owned banks this year, including Vietnam Technological and Commercial Bank, also known as Techcombank, Orient Commercial Bank and Maritime Bank. Hanoi has ordered all state-owned companies, especially the 31 banks, to list their shares one year after privatization as part of an effort to modernize its economy.

Vietnam International Bank, LienViet Post and KienLong Bank, which are seeking foreign partners, will also move from secondary to main bourses this year.

Hanoi set a 2016 deadline for banks to go public. But few met that target, given the unfavorable investment environment and problems in restructuring. The Vietnamese banking system has undergone huge changes and cleaned up nonperforming loans since 2012, reducing the number of lenders to 31 from more than 40.

The latest measures to restructure lending institutions, which took effect on Jan. 15, include the introduction of a bankruptcy process, marking the first time Vietnam has allowed this practice in the industry.

In 2016, the central bank urged banks to meet the Basel II standards by January 2020. The minimum capital ratio for commercial banks under Vietnam’s own accounting standard is now more than 9%, but this is much lower than for other countries in the region, which have already applied Basel II and the more stringent Basel III.

This gap has prompted a rush among Vietnamese banks to seek foreign strategic investors and issue more shares to raise needed capital.

Market observers say the remaining 17 banks will have trouble attracting investors, as they are mostly small or midsized institutions with weak capital structures compared to the 14 banks that have already completed their listings.

These bigger institutions include Joint Stock Commercial Bank for Foreign Trade of Vietnam, also known as Vietcombank, Bank for Investment and Development of Vietnam, Military Commercial Bank, Asia Commercial Bank and Vietnam Prosperity Bank. Since the laggard banks suffer from nonperforming loans, they need to tap the capital markets or find strategic partners to bolster their capital.

Vietnam’s government fund, the State Capital Investment Corporation, is seeking direct buyers for its holding in Maritime Bank, after canceling public auctions in October 2016 and March 2018 for lack of bidders. Ho Chi Minh City also expects to divest a 65% stake in SaigonBank, while Petrolimex Group Commercial Bank will on April 21 ask shareholders to approve its merger with another bank following execution of a reform plan.

Hanoi is also in talks with potential partners to sell major stakes in three banks that were nationalized in 2015. They include Ocean Bank, the lender at the center of corruption and embezzlement trials that led to an 18-year prison sentence for former Communist Party Politburo member Dinh La Thang, and a life sentence and a death sentence for two other bankers.

Vietnamese banking expert Can Van Luc said it will not be easy for all 31 lenders to meet the deadline, but state policies and the benefits of listing are encouraging more unlisted lenders to speed up reforms ahead of the 2020 target.

Hanoi is desperately seeking more funding for infrastructure development and economic growth. The socialist country has embraced the stock market as an efficient channel to raise funds and improve transparency in corporate governance.

The government is likely to be flexible in supporting weaker lenders to restructure and list at the right time, which benefits both the state and shareholders, Can Van Luc added.

(Nikkei)

VN-Index keeps upward trend, approaching 1,200 points

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The VN-Index on the Ho Chi Minh Stock Exchange (HOSE) continued the upward trend on April 6 when it gained nearly 7 points to move closer to the 1,200 point benchmark.

The index rose 0.98 point to 1,194.15 points right at the beginning of the trading session. Later, a sudden strong demand pushed the VN-Index up, helping it to quickly surpass 1,200 points and even reach 1,202 points.

However, this upward trend did not last long and the VN-Index fluctuated between 1,198 – 1,199 points in the remaining time of the session. Among large-cap stocks, VCB and SAB kept their prices unchanged from April 5 while MSN and GAS decreased by 2,700 VND and 100 VND per share, respectively. VIC, VNM, BVH and CTG were coloured green when they grew 100 – 1,400 VND per share. At the end of the trading session, the VN-Index rose 6.79 points to close at 1,199.96 points. More than 252 million shares were traded, equivalent to over 7.38 trillion VND (323.2 million USD).

In the VN30 basket, which measures the performance of 30 stocks with the highest market capitalisation and liquidity on HOSE, there were 11 codes recording price declines, five codes unchanged and 14 others with price hikes.

The VN30 Index edged up 5.25 points to 1,174.37 points when 74 million shares worth some 3.44 trillion VND (151 million USD) were traded. Meanwhile, the HNX-Index on the Hanoi Stock Exchange (HNX) ended at 138.02 points after increasing by 1.26 points with more than 69 million shares worth about 1.19 trillion VND (52.2 million USD) traded. HNX30, which tracks the HNX’s 30 leading shares in terms of market capitalisation and liquidity, inched up 0.19 point to 261.65 points.

About 45 million shares worth over 941 billion VND (41.3 million USD) were traded. UpCoM Index on the Unlisted Public Company Market (UPCoM) gained 0.22 point to close at 60.64 points. Over 30 million shares were traded at nearly 580 billion VND (25.4 million USD).

Source: VNA

Fast food and its invasion of Vietnam’s culinary paradise

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Nothing could be more different from fast food, the American way, than the traditional Vietnamese diet.

For seven happy years, from 2003 to 2010, I lived on Tran Hung Dao Street, Hanoi. Right behind our elegant French villa, within a few blocks, there was a food paradise. The area to the south was full of wonderful eating places, from grand restaurants to sidewalk cafés.

I loved the oceanic taste of stir fried squid, the freshness of rice-paper spring rolls, the strength of beef in black pepper sauce… But perhaps my biggest favorite was bun cha, which we used to purchase from a little restaurant on Le Van Huu Street, to eat at home on Sundays.

Renowned chef Anthony Bourdain once wrote: “You don’t have to go looking for great food in Vietnam. Great food finds you. It’s everywhere. In restaurants, cafes, little storefronts, in the streets; carried in makeshift portable kitchens on yokes borne by women vendors.” I was not at all surprised that the little restaurant on Le Van Huu Street where we used to buy our Sunday bun cha was the place where Anthony Bourdain took President Obama for dinner.

If fact, the quality of the meals one can get sitting on small plastic stools on Vietnamese sidewalks can easily make the offerings of many posh western restaurants pale by comparison. Which is why I felt so disturbed when reading in a recent New York Times article that Vietnam is one of the countries with the fastest penetration of fast food in the world.

Among the 54 countries considered in the article, only Argentina saw a speedier growth in sales between 2010 and 2015. I could not refrain from wondering whether the tasty and healthy Vietnamese cuisine I had so much enjoyed while living in Hanoi could end up being displaced by bland and fatty fast food.

The Vietnamese craze for fast food seems to have become stronger since this New York Times article was published in the fall of 2017. Youngsters queued in line for hours to grab their hamburgers, French fries and sodas when the first McDonald’s outlet opened in Hanoi, in December 2017. And many Vietnamese children seem by now hopelessly addicted to deep fried chicken, the Kentucky way.

Nothing could be more different from fast food, the American way, than the traditional Vietnamese diet. Fast food is bountiful in saturated oils and industrially processed inputs. Vietnamese cooking, on the other hand, relies on natural ingredients, with minimal use of dairy and oil, and an abundance of herbs and vegetables. Everything is fresh in Vietnamese cuisine, almost nothing is in fast food.

While Vietnamese cuisine is considered one of the healthiest worldwide, fast food is a global source of obesity. And obesity is indeed ballooning in Vietnam. According to Professor Le Thi Hop of the National Nutrition Institute, about 1.2 million children already suffer from it. In HCMC, the share of children who are obese increased from 3.7 percent in the year 2000 to 11.5 percent in 2013. The share is probably higher nowadays.

By now the paradox is obvious: Vietnam is a country of beautifully slim moms with sadly overweight children. And Dr. Huynh Hanh, of the University of British Columbia, believes that the opening of fast food chains is a major cause of this disturbing trend.

There is another reason to be concerned about the penetration of fast food in Vietnam.

Food is culture, and it is often said that there is no great civilization without a great cuisine. Of course, the cuisines most people have in mind are the French, the Turkish, the Chinese, the Indian… But Vietnamese cuisine is arguably in that top tier of the world food league. And one of the great cuisines of the world being displaced by bland fast food would no doubt amount to a loss for mankind.

Vietnamese cuisine involves a subtle combination of fragrance, taste and color. Five elements come together and balance each other: spicy, sour, bitter, salty and sweet. The refinement of their combinations was pushed to new heights under the Nguyen Dynasty, when the 50 best chefs from all over the kingdom were selected to serve the emperor.

Later came the French influences, from new ingredients such as potato and asparagus, to new dishes such as banh mi pate or banh xeo. Pho, the quintessential Hanoian dish, was arguably influenced by French onion soup, and its name is said to derive from pot au feu, a traditional French broth.

In my eyes, the cuisine of Vietnam is much better than that of its neighbors: too spicy towards the west, too complex towards the north, too heavy towards the east…

Alas, the prospect of seeing Vietnamese cuisine being displaced by industrial fast food may seem quite real at times. By some accounts, there are already 207 Lotteria outlets, 140 from KFC and 100 stores by Jollibee. Other chains are following suit, and are massively investing to enter the Vietnamese food market.

And yet, my concerns could well be overstated. Some of the western fast food chains are struggling. Burger King invested $40 million to expand its chain, but it is still grappling to gain a foothold in Vietnam. McDonald’s had targeted 100 restaurants after 10 years in the country, but it still has only a few in HCMC, and just one in Hanoi. Some of the successful entrants in the fast food market are Korean and Japanese, and their offerings are more suitable to the eating habits of the Vietnamese, with rice as the main staple.

Meanwhile, young people in Vietnam still love local food. Market research firm Decision Lab reckons that the generation born in the 1990s collectively spends about VND13 trillion ($568.1 million) per month eating out. For many young Vietnamese men and women, monthly spending reaches VND2-3 million. These young people eat sticky rice, fried corn, baked banana… and pho, of course! They drink mango shake, milk tea and Vietnamese coffee. And in continuing the tradition of their elders, they make Vietnam the global capital of “real” fast food, in its sidewalk version.

Even among western countries, food trends can be very different. Fast food, the American way, seems to have taken over the planet, but in parallel a strong “slow food” movement has emerged. Founded in Italy in the 1980s, in reaction to the arrival of fast food chains, it promotes the use of fresh ingredients, from farm to table, and celebrates taking time to cook and share the food with family and friends. The 2000s saw the emergence of the global chain Eataly (from “eat” and “Italy”), where large food halls host a variety of small restaurants and counters selling ham, cheese, olive oil and other fresh ingredients. Looking like market places, Eataly stores are thriving, from Sao Paulo to London and from New York to Tokyo.

The history of Vietnam provides some reassurance. French colonialism exposed the country to western influences for the first time. Unlike the current opening up of the country to foreign trade and investment, globalization back then was imposed. And yet, the Vietnamese culture was strong enough to only absorb the best that western civilization had to offer. From the new poetry movement to the Romanized Quốc Ngữ script, from neo-impressionist paintings to the ao dai dress, the finest French influences and local traditions were mixed back then to generate what we now see as distinctly Vietnamese cultural products.

Food is culture too, and based on the country’s previous experience with globalization, it is difficult to believe that fatty, American-style fast food has much future in Vietnam.

*Martin Rama is the chief economist for the South Asia region of the World Bank. The opinions expressed are his own.

Apple VN announces discount on expired battery replacement

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Apple Việt Nam LLC has launched a discounted replacement programme for iPhone’s expired battery from now until December 31 this year, reported the Việt Nam Competition Authority.

Consumers can visit authorised Apple service providers nationwide to replace batteries.

The discount is applicable to all customers using iPhone 6, iPhone 6 Plus, iPhone 6s, iPhone 6s Plus, iPhone SE, iPhone 7 and iPhone 7 Plus. Accordingly, Apple will reduce the replacement cost of expired batteries by some VNĐ1.31 million ($58) from VNĐ2.04 million to VNĐ729,000.

For phones under warranty, Apple Vietnam LLC (through authorised service stations) will carry out the replacement for free.

Apple said the programme was implemented to overcome battery bottlenecks and prevent sudden power outages.

Apple has also upgraded its new operating system, iOS 11.3, which allows users to choose to turn off the power management function to prevent sudden shutdown.

For phones that have not been purchased through Apple Việt Nam LLC’s distribution system, consumers need to contact hotline 18001127 for instructions. — VNS

Source: Vietnam News

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