HCM City becomes most attractive investment destination

Ho Chi Minh City was the most attractive destination for foreign investors, luring 3.74 billion USD in the first nine months of this year, accounting for 14.6 percent of the country’s total 25.4 billion USD.

According to the Foreign Investment Agency under the Ministry of planning and Investment, the north central province of Thanh Hoa came second with 3.15 billion USD, accounting for 12.4 percent of total FDI.

Meanwhile, the northern province of Bac Ninh ranked third with 3.14 billion USD, or 12.3 percent of total figure, the agency reported.

As of September 20, Vietnam attracted 25.4 billion USD in foreign direct investment (FDI) in the reviewed period, up 34.3 percent year on year.

Of the total, 14.5 billion USD was poured into 1,844 new projects, while 6.75 billion USD was additional capital to 878 underway ones, and 4.16 billion USD was worth capital shares bought by foreign investors.

So far this year, foreign investors invested in 18 areas, mostly in the processing and manufacturing sector with 12.64 billion USD, or 49.6 percent of total FDI.

Production and distribution of power was the second most attractive sector, which reeled in 5.37 billion USD, followed by the wholesale and retail sector with 1.58 billion USD.

Vietnam-Australia trade ties thriving

Vietnam and Australia have opportunities to advance their economic and trade ties, said Secretary of the Ho Chi Minh City Party Committee Nguyen Thien Nhan. 

At a reception for Australian Ambassador to Vietnam Craig Chittick in HCM City on September 26, Nhan said the Vietnamese metropolis has good ties with many Australian localities, voicing his hope that relations will continue to thrive. 

For his part, the ambassador highlighted the rapid development of economic relations between Vietnam and Australia, with two-way trade increasing sharply annually and more flights launched to connect the two countries. 

Also, bilateral education collaboration is also thriving, he said, noting that tens of thousands of Vietnamese are studying in Australia. 

Australia is the 19th largest investor in Vietnam with 407 projects worth 1.85 billion USD and is also an important market of Vietnamese investors who are running 36 projects with total capital of nearly 200 million USD in the country.

Australia is the seventh largest trade partner of Vietnam. Two-way trade reached about 5.3 billion USD in 2016, with Vietnam’s exports valued at 2.86 billion USD.

Dong Nai nearly achieves annual FDI attraction target

The southern province of Dong Nai attracted 55 new foreign direct investment (FDI) projects and permitted 84 existing projects to add capital in the first nine months of 2017, with a total amount of 955.5 million USD, equivalent to 95.5 percent of the annual target.

According to the provincial Department of Planning and Investment, 339.4 million USD was poured into new projects and the remaining was added to operational projects. 

The province is now home to 1,300 valid FDI projects worth 26.27 billion USD by investors from 45 countries and territories. The leading investors were the Republic of Korea, Taiwan (China) and Japan. 

In recent years, Dong Nai has given priority to projects using advanced and eco-friendly technologies and fewer workers.

Vietjet offering more than 1 million free tickets for Tet travel

Vietjet Air will offer 1.22 million tickets at prices starting from VND0 (including tax and fees) on three super-promotional days from September 27 to 29. The tickets are to welcome in the Lunar New Year (Tet) in 2018 and are available for domestic and international flights to Seoul and Busan (South Korea), Hong Kong, Kaohsiung, Taipei, Taichung, and Tainan (Taiwan), Singapore, Bangkok, Kuala Lumpur, Yangon (Myanmar), and Siem Reap (Cambodia) between November 1 and March 31, 2018.

The promotional tickets are available for booking within the “golden hours” of 12pm to 2pm (GMT+7) daily at www.vietjetair.com (compatible with smartphones at https://m.vietjetair.com) and at www.facebook.com/vietjetvietnam (just click the “Booking” tab). Payment can be easily made with debit and credit cards of Visa, MasterCard, AMEX, JCB, and KCP, and ATM cards issued by 32 Vietnam’s banks that have internet banking.

Passengers who purchase the early-bird fares will enjoy extra low prices and be sure they have their tickets. They can also learn about promotions, baggage conditions, travel document regulations, and ticket and carriage conditions for food and apricot and peach trees at Vietjet’s website www.vietjetair.com, to avoid any unexpected situations during the Tet holidays.

Vietjet has launched many new routes and increased frequencies to serve rising travel demand for family reunions during the Tet holidays.

With high-quality services, diverse ticket classes, and special low-fare tickets, Vietjet offers passengers a new flying experience on new aircraft, with comfy seats, delicious hot meals, beautiful and friendly flight attendants, and other interesting added-on services.

Vietjet is the first airline in Vietnam to operate as a new-age airline with low-cost and diversified services to meet customers’ demands. It provides not only transport services but also uses the latest e-commerce technologies to offer various products and services for consumers. Vietjet is a member of the International Air Transport Association (IATA) and has IATA Operational Safety Audit (IOSA) certification.    

EU tops the list of Vietnam coffee importers

Vietnam exported more than 1.03 million tons of coffee to earn over US$2.34 billion in the first eight months of this year, down 19.5% in volume but up 3.5% in value, according to the General Department of Vietnam Customs.

In August lone, 95,033 tons of coffee with the value of US$222.2 million was shipped abroad, down 5.73% in volume and 5.86% in value. The average price was US$2,338 a ton.

EU countries were biggest consumers of Vietnam coffee with 446,822 tons valuing at US$986.9 million, accounting for 43% of the country’s total coffee export volume and 42% of its value. In the EU, Germany was the largest importer of Vietnam coffee with 157,601 tons worth US$344.31 million.

Vincom Retail submits listing document to HOSE

Vincom Retail, a retail arm of VinGroup, has submitted the listing registration document to the HCM Stock Exchange (HOSE), the southern exchange announced.

Vincom Retail has charter capital of over VNĐ19 trillion (US$837.4 million) and plans to list a total of 1.9 billion shares on the southern market.

The listing timetable has not been disclosed.

The consulting firm for the listing is Saigon Securities Inc.

Vincom Retail is Việt Nam’s largest shopping mall operator with 41 commercial centres nationwide. Its popular brands include Vincom Center, Vincom Mega Mall, Vincom Plaza and Vincom+.

The operation of commercial centres is among the biggest profitable segments of VinGroup.

According to VinGroup’s first-half financial report, this business line brought in over VNĐ2.88 trillion in revenue (including VNĐ787 billion in internal trading) for VinGroup in the first half of this year. Vincom Retail’s pre-tax profit was VNĐ1.45 trillion.

Vincom Retail has two foreign shareholders – Warburg Pincus and Credit Suisse AG – which own 15.17 per cent and 5.06 per cent of the mall operator, respectively.

In August, Bloomberg reported that Vincom Retail is planning a domestic initial public offering worth some $600 million, which could become Việt Nam’s largest-ever share sale in the private sector.

The last first-time IPO that topped $100 million was from local budget airline VietJet Aviation JSC at the end of 2016.

Energy and banking-finance industries drive VN stocks down     

Vietnamese shares fell on Wednesday morning, driven by energy, banking and insurance-finance stocks.

The benchmark VN Index on the HCM Stock Exchange inched down 0.19 per cent to close at 803.85 points. It fell a total of 0.2 per cent in the previous two sessions.

The HNX Index on the Ha Noi Stock Exchange lost 0.42 per cent to end at 107.45 points, retreating from a five-day increase of three per cent.

More than 134.4 million shares were traded on both local exchanges, worth VND2.52 trillion (US$112.2 million).

Shares of energy and finance-banking sectors were the main reason for the market’s slump on Wednesday morning.

Energy stocks posted losses after crude prices slipped on Tuesday. Brent crude lost almost one per cent to end at $58.44 per barrel, resulting in a 0.7 per cent drop for PetroVietnam Drilling and Well Services (HOSE: PVD).

In the banking sector, Sacombank (HOSE: STB) and Asia Commercial Bank (HNX: ACB) slid on profit-taking. STB declined by two per cent following a two-day increase of 8.2 per cent and ACB fell 1.3 per cent after rallying a total of 8.5 per cent in the previous seven sessions.

On the positive side, shares of property developer and retailer Vingroup (HOSE: VIC) advanced 2.6 per cent, lifting the property sector.

On Tuesday, Vingroup’s retail arm Vincom Retail submitted its portfolio to the HCM Stock Exchange to list on the stock market.

The afternoon trading session begins at 1pm.

9M FDI hits record $25.48bn

Foreign direct investment (FDI) in Vietnam in the first nine months this year hit a record $25.48 billion, up 34.3 per cent year-on-year, according to the Foreign Investment Agency (FIA) at the Ministry of Planning and Investment.

There were 1,844 new projects in the total, with registered capital of $14.56 billion, up 30.4 per cent year-on-year, while 878 projects invested additional capital of $6.75 billion, up 28.3 per cent.

FDI projects disbursed $12.5 billion in the period, an increase of 13.4 per cent.

Foreign investors are investing in 18 sectors, with manufacturing and processing attracting the most, with total capital of $12.64 billion, accounting for 49.6 per cent of the total.

Power production and distribution followed, with $5.37 billion, accounting for 21 per cent, then wholesale and retail, with $1.58 billion, or 6.2 per cent.

One-hundred and eight countries and territories have investment projects in Vietnam. South Korea led the way, with investment of $6.31 billion, accounting for 24.7 per cent of the total, then Japan, with $5.91 billion, or 23.17 per cent, and Singapore with $4.14 billion, or 16.2 per cent.

Ho Chi Minh City was the most popular FDI destination, with capital of $3.74 billion, followed by north-central Thanh Hoa province with $3.15 billion and northern Bac Ninh province with $3.14 billion.

Exports by foreign-invested enterprises (FIEs), including crude oil, reached $110.8 billion, up 21 per cent year-on-year and accounting for 71.9 per cent of total export turnover. Excluding crude oil, exports by FIEs totaled $108.5 billion, up 20.8 per cent and accounting for 70.5 per cent of the total.

Imports by FIEs reached $93.2 billion, up 26.1 per cent and accounting for 60.3 per cent of total import turnover. FIEs therefore recorded a trade surplus $17.63 billion including crude oil and $15.36 billion excluding crude oil.

Links in central region economy promoted

The central region’s economy is facing many obstacles caused mainly by differences in economic structure.

This was one of the issues discussed by Deputy Prime Minister Vuong Dinh Hue at the Second Central Region Economic Forum held by VET, the Da Nang People’s Committee, the Vietnam Chamber of Commerce and Industry (VCCI), and the Central Coastal Region Coordination Board in Da Nang on September 25.

Deputy PM Hue affirmed that regional economic development and regional links play a very important role in the country’s socioeconomic development. He cited documents from National Party Congress XII that focus on the development of key economic regions, dynamic regions, economic zones, and industrial parks.

The government and the Prime Minister have issued many guiding documents to remove difficulties and obstacles to developing the economy in the central region. “It can’t develop economically if the economic space is divided,” the Deputy PM emphasized.

This year’s Central Region Economic Forum focused on three main issues: solutions to removing barriers in policies and mechanisms to create a breakthrough in the sustainable development of the central region’s economy, solutions to harmonious development between the local economy and regional links, and solutions to developing the private sector - the driving force for sustainable economic development in central Vietnam.

One of the reasons for the lack of regional connectivity is that the potential, strengths, and natural resources of cities and provinces in the region are similar and equal, according to experts at the forum. Economic development is based on this potential, and products and economic structure overlap and lack specialization.

Dr. Tran Du Lich, Head of the Central Coastal Consultative Group, proposed that the government create an economic development mechanism for Chu Lai - Dung Quat Economic Zone to become the center of industry in the region.

According to Mr. Lich, priority should be given to investing in coastal roads to create a driving force for economic development, with special land and tax incentives for urban development adopted in coastal economic zones.

In this regard, Mr. Le Viet Chu, Secretary of the Quang Ngai Provincial Party Committee, proposed there be links in the regional economy in both medium and long-term planning.

A quick survey presented by economist Mr. Vo Tri Thanh at the forum showed that nearly 80 per cent of respondents agree that poor connections and underdeveloped links between provinces in the region are major barriers to growth. The central coastal region saw average growth of 8.4 per cent last year, with revenue of $5.8 billion.

Ideas sought for a sustainable Mekong Delta

A conference on sustainable development in the Mekong Delta and coping with climate change is taking place on September 26 and 27 in Can Tho city, chaired by Prime Minister Nguyen Xuan Phuc.

The conference will review and assess the challenges and opportunities and mobilize ideas, experience, and resources for sustainable development in the Delta.

More than 500 delegates are in attendance, including representatives of ministries, branches, localities, Party committees, the National Assembly, the Vietnam Fatherland Front Central Committee, the Farmers’ Association in the Mekong Delta, research institutes and national organizations, development partners, and the business community, as well as experts and scientists, who will focus on a wide range of matters.

The Mekong Delta consists of one centrally governed city and 12 provinces, covers an area of 3.9 million ha, and accounts for 12.3 per cent of the country’s natural area and 19 per cent of its population. It annually contributes about 30 per cent of GDP, with main goods being rice, fruit, and seafood.

Despite many achievements, socioeconomic development in the Delta has not been sustainable or efficient, and the region’s competitiveness remains low, with small-scale, fragmented agricultural production affected by climate change and rising sea levels.

Industry and services have not developed in line with their potential. Linking the Mekong Delta market with other development areas such as Ho Chi Minh City has been limited for many reasons, in particular poor infrastructure.

In that context, the PM held the conference in order to identify ideas that may help the government and localities in the Mekong Delta build strategic policies for sustainable development and vision to 2100.

Participants will discuss topics such as the challenges, opportunities, and solutions for transforming the development model in the Mekong Delta; sustainable agriculture, irrigation infrastructure, and natural disaster and landslide prevention; and master planning and infrastructure development. They will then discuss the mobilization and coordination of resources for the Mekong Delta’s development.

International organizations such as the World Bank, the German Development Cooperation (GIZ), and the United Nations Development Program (UNDP) will also contribute ideas on livelihood conversion solutions, transitional solutions suited to the natural conditions of the Delta, integrated coastal management, and landslide prevention. 

Binh Duong removes difficulties for foreign investors

Leaders of Binh Duong provincial People's Committee and representatives from the related departments and sectors joined a meeting with foreign investors, on September 26, in a bid to remove any obstacles for foreign investors conducting business in the province.

Binh Duong is one of the localities attracting the highest amount of foreign direct investment (FDI) and has a total of nearly 1.3 million local workers, as well as more than 50,000 foreign workers.

Due to a large number of FDI projects and workers, many problems have arisen related to policies towards workers, including social insurance payments, health examinations and treatment for foreign workers, and the deductions of personal income tax, among others.

Some foreign enterprises said that they have to pay health insurance fees for foreign workers working in Binh Duong but most of the foreign workers do not seek medical care at public hospitals due to the language problems and they often visit international hospitals.

A representative from the insurance sector of Binh Duong said that it is working with several international hospitals in the locality so that foreign workers holding health insurance cards can access medical services at these hospitals with their interests ensured.

The enterprises also asked for a specific plan to increase the working hours up to 400 hours per year from the current 200 hours per year. They also raised a number of questions on tax policy and confusing legal documents from the provincial Department of Taxation, among others.

Other issues related to transport infrastructure and the rights of workers were also discussed at the meeting.

The leaders of the province also gave detailed answers to the questions within their competence and other problems which will be sent to the Government and the National Assembly in order to make appropriate adjustments.

Many enterprises noted that the investment environment of Binh Duong has been improved. The province has attracted nearly US$2 billion worth of FDI since the beginning of this year, reaching 140% of the year's plan and up 27% over the same period in 2016. 

Binh Duong has 28 industrial zones with a total area of over 10,000 ha and the number of industrial zones is expected to increase to 34 by 2020, on a total area of 14,000 ha.

HCMC, Thanh Hoa take lead in FDI attraction

Foreign investors have invested in 59 provinces and cities throughout Vietnam, in the first nine months of this year, with the largest amount of investment being poured into Ho Chi Minh City, Thanh Hoa and Bac Ninh.

Nearly US$25.5 billion in foreign direct investment (FDI) was registered to invest in Vietnam in the first nine months of this year, up 34.3% over the same period last year. In this period, approximately US$12.5 billion was disbursed, an increase of 13.4% against the same period last year, according to the Foreign Investment Agency.

Ho Chi Minh City continued to rank first in FDI attraction, with a total registered investment of US$3.74 billion, whilst Thanh Hoa province came in second with US$3.15 billion and Bac Ninh came in third with US$3.14 billion in FDI capital.

The total US$25.5 billion FDI capital comprises of US$14.56 billion worth of newly-registered capital invested in 1,844 newly-licensed projects, a 30.4% annual increase and US$6.75 billion worth of supplemented capital added to 878 existing projects, a 28.3% annual increase.

Meanwhile, the remaining US$4.16 billion worth of FDI was invested in company stakes bought by foreign investors.

According to the Foreign Investment Agency, the processing and manufacturing sector attracted the largest investment from foreign investors, with a total registered FDI capital of US$12.64 billion, accounting for 49.6% of the total registered capital in the first nine months of this year.

The electricity production and distribution sector ranked second with a total registered capital of US$5.37 billion, accounting for 21% of the total registered capital. Meanwhile, the wholesale and retail sale sector came in third with a total registered capital of US$1.58 billion, making up 6.2% of the total registered capital.

The Republic of Korea (RoK) remained the top foreign investor in Vietnam, with a total investment capital of US$6.31 billion, accounting for 24.7% of the total investment capital.

Japan was the runner-up with a total investment capital of US$5.91 billion, accounting for 23.17%, while Singapore came in third with a total capital of US$4.14 billion, accounting for 16.2% of the total investment capital.

HCMC proposes ministries to supply more finance to urgent projects

The HCMC People’s Committee has proposed the Ministry of Planning and Investment and the Ministry of Finance to use official assistance development (ODA) funds for urgent projects in the city.

Specifically, the city’s first metro line Ben Thanh-Suoi Tien needs an additional capital of VND3.3 trillion (US$145.17 million) and the second phase of HCMC environmental hygiene project needs VND300 billion (US$13.2 million).

The city People’s Committee has reported the capital demand of the two projects in July and September this year.

According to the committee, the first metro project needs over VND5,420 billion (US$238.44 million) this year.

However, it nears only VND2,120 billion in the capital allocation plan of the central budget this year. Investors have used up the amount right after the city received it. Afterwards, HCMC must advance an extra of VND500 billion ($22 million) on its budget but the advance is still insufficient to pay contractors.

At a meeting with Prime Minister Nguyen Xuan Phuc in June, HCMC proposed the PM to consider an advance of VND3.3 trillion on the central budget for the first metro line to speed up progress and build the project by 2020 as per schedule.

On July 5, the Government Office sent a document announcing the Prime Minister’s conclusions about the working session. Of these, he agreed with the ODA capital advance as per proposal by HCMC.

He has assigned the Ministry of Planning and Investment and the Ministry of Finance to have specific proposals and report to the PM before July 30. Still the project has yet to receive supplementary capital. Investors have no funds to make payment so many contractors have extended progress, stopped construction and even sued the investors.

Japanese firms want to expand supply chains in HCMC

Japanese firms are looking for partners and expanding support industry supply chains in HCMC, said the Japan External Trade Organization (JETRO) in HCMC yesterday.

Support products of which they want to develop supply chains are precision tools and components, precision plastic moulds, industrial equipment and machines, electronic components and painting equipment.

The HCMC Center of Supporting Industries Development will organize supply and demand connectivity activities for local and foreign businesses especially those from Japan next month.

These activities aim to assist foreign firms in market expansion in the country and create a chance for city businesses to improve ability and connect with Japanese firms in industry and support industry fields.     

Fertilizer dealers required to have qualification certificates

Government Decree 108 which took effect on September 20 requires fertilizer dealers to have a certificate of qualification.

According to Article 19 of the decree, fertilizer dealers have to meet four conditions. The most notable condition is that fertilizer dealers must have a certificate of qualification, except for those having already had at least mid-level education degree in cultivation, plant protection, agronomy, chemistry or biology.

In addition, fertilizer dealers must have a certificate of establishment, a store with specific address, signboard and price list, and a warehouse.

According to the Ministry of Agriculture and Rural Development, Decree 108 replaces Decree 202 which does not require fertilizer dealers to have a certificate of qualification issued by competent agencies. This has led to uncontrollable trading of fertilizers, resulting in fake and poor-quality products flooding the market.

The new decree also stipulates that all kinds of fertilizer will be managed by the Ministry of Agriculture and Rural Development.

Fertilizers were earlier under the management of two ministries, with the Ministry of Agriculture and Rural Development overseeing organic fertilizers and the Ministry of Industry and Trade being responsible for inorganic fertilizers, resulting in complicated and inefficient management.

Decree 108 contains some very detailed regulations. Notably, names of fertilizer must not coincide with names of country leaders, folk heroes, celebrities, medicines, food and drinks.

Raw rubber wood in short supply

Experts and entrepreneurs say the main source of raw timber, especially rubber wood, for processing products for export will be in short supply in the long run.

Dien Quang Hiep, director of Binh Duong Province-based Minh Phat 2 (Mifaco), told the Daily the price of rubber wood for producing furniture for foreign markets has risen sharply by 30-40% compared to early this year.

Given the tough situation, he has no way but to advance money to wood suppliers. However, he admitted this is just a short-term solution. He found it tough to secure enough raw timber for the company in the next one or two years.

Mifaco specializes in manufacturing wooden furniture for sale to the United States, with its main material being rubber wood. The sharply rising price of the material has severely affected the company’s profit, as the export price has been fixed at least one year earlier.

Bui Nhu Viet, general director of Long Viet MDF Wooden Technology JSC, told the Daily that shrinking material sources and their increasing prices are main obstacles wood processors are faced with.

He added many large wood processors have merely met around 40-50% of their designed capacity, due to a lack of materials. “If the situation persists, many enterprises may go bust,” he stressed.

According to timber processors, rubber wood is the main material source for processing interior and exterior wooden products which serve the demand at home and abroad. Therefore, the domestic demand for rubber wood is strong.

Meanwhile, the neighboring China has closed its forests, which means a ban on the usage and export of raw timber since early this year. Thus, Chinese traders have flocked to other countries for collecting raw timber.

To Xuan Phuc, a senior policy analyst at the Forest Trends, said China is expected to face a shortage of around 50 million cubic meters of timber a year. Earlier, Malaysia which used to provide a large amount of rubber wood to China has halted its exports since early 2017. Therefore, Vietnam may be one of the markets where Chinese traders are coming to purchase rubber wood.

The Vietnam Timber and Forest Products Association forecast the scarcity of raw timber as a whole would be a daunting challenge for the sector.

HCMC says will still execute BOT projects

The HCMC government will still move on with projects under the build-operate-transfer (BOT) and build-transfer (BT) formats, but enforce more stringent supervision, heard a press conference on the city’s January-September economic and social performance.

Given the dense locations of tollgates in the city and recent public protests against BOT road projects elsewhere, the Daily asked the municipal government whether to continue developing BOT traffic infrastructure projects or not. Vo Van Hoan, chief of the Office of the HCMC People’s Committee, said the local government has no way but to continue BOT and BT projects, as the State budget is not enough to fund all of them.

He added many countries have also resorted to this investment mode, and have completed a slew of traffic projects under the BOT and BT formats.

He however stressed three important procedures should be given special attention in the course of implementing BOT and BT projects.

The first procedure relates to who will propose such projects. According to Government Decree 15/2015/ND-CP on public-private partnership investment, the Government and investors are eligible to put forward projects.

Owing to the limited State budget, the Government has given investors the green light to propose and study most of these projects on their own which would give them excessive advantages. If the Government analyzes projects, and then puts them out to tender, competent investors will be chosen.

“The municipal government considers launching a scheme for studying projects instead of giving investors the right to do so,” Hoan stressed.

The second procedure is to inspect work on projects. Despite the participation of management agencies, the Government has yet to keep a close eye on most projects. Therefore, competent agencies should conduct closer inspections of them.

The third procedure is to manage costs. At present, toll fees and collection time require approval from the provincial or municipal people’s committees.

According to Hoan, the question is that every procedure of BOT projects must be adjusted so that the role of State management can be stricter.

Recently, State agencies have found numerous irregularities at BOT road projects, including construction cost overestimates, wrong reports on toll fee collections, and the wrong locations of tollgates.

Urban consumers spend more on fresh food

An urban household now spends an average of VND1.1 million on fresh food, or three times the spending on fast-moving consumer goods (FMCG), according to market research firm Kantar Worldpanel.

Spending on fresh food has also increased 17% year-on-year, according to a report on the FMCG market issued on September 25 after Kantar Worldpanel had conducted a 12-week market survey in four large cities in the nation – HCMC, Hanoi, Danang and Can Tho. 

Consumers in cities spent more on five main types of fresh food – fruit (19%), pork (14%), fish (12%), seafood (12%) and vegetables (11%). These figures increased slightly compared to the same period last year.

The result showed consumers are increasingly aware of the importance of fresh food to their health. Therefore, manufacturers and retailers should come up with business plans to meet such consumer needs.

Bizweb, DHL eCommerce jointly provide e-commerce services

Bizweb, an online shopping platform, on September 25 struck a deal with DHL eCommerce, a division of global logistics group DHL, to offer e-commerce services for local enterprises.

More than 30,000 enterprises with websites connected to Bizweb can use DHL’s express delivery service more conveniently. Previously, Bizweb has not integrated e-commerce order management on its website.

DHL is a large delivery service provider in the world. The group has launched its domestic delivery service in Vietnam for enterprises in the e-commerce sector. DHL eCommerce has cooperated with Bizweb to introduce its services to a large number of Bizweb’s customers.

Thomas Edward Harris, managing director of DHL eCommerce Vietnam, said the company wants to provide logistic services to e-commerce companies. Vietnam is a potential e-commerce market with over 600,000 small and medium enterprises, he said.

Bizweb CEO Tran Trong Tuyen said its customers could have a new high-quality service for effective delivery management.

The two sides have launched a promotion program under which Bizweb’s customers using DHL eCommerce delivery service will be offered the first ten orders at no charge and a discount of 50% for the next 20 ones. DHL eCommerce customers will be deducted VND1 million if they connect their websites with Bizweb.

Prudential opens first pop-up insurance store in Vietnam

Life insurer Prudential Vietnam last weekend organized its first pop-up store for two days at the Saigon Centre, also the first pop-up store in the local life insurance sector.

Pop-up stores which exist for a very short span of time are no longer strange to fashion and technology enterprises in developed countries. However, as for the life insurance sector in which customers have been used to traditional offices, running a pop-up store is challenging.

Prudential focused on interactions with its customers through the first pop-up store themed “Plan for your future.” The store was designed as a modern metro to help customers get experience and achieve their dreams.

The pop-up store aiming at customers in urban areas with high consumption demand was equipped with a large billboard at the center and a coordinator to interact directly with visitors.

Prudential also provided many tablets so that customers can do multiple-choice tests on life concerns such as health, old age, children and property. Customers in need would be given advice by experienced consultants of Prudential based on test results.

In addition, customers who have inked contracts with Prudential could check their policies, find information about new products, participate in multiple-choice tests and receive gifts.

The first pop-up store attracted thousands of visitors. Prudential will continue introducing more pop-up stores at seven other commercial centers in HCMC and Hanoi City until the end of December with a target to lure more than 52,000 guests.

Vietnam Airlines, Jetstar Pacific sell tickets for Tet holidays

The national flag carrier Vietnam Airlines and budget Jetstar Pacific on September 27 began selling air fares for domestic flights serving the Tet holiday (Lunar New Year), which falls in February, 2018.

During January 31-March 2, 2018, Vietnam Airlines will offer 1.4 million seats on all domestic routes, up 127,700 seats (equivalent to 694 flights) from the same time last year.

Meanwhile, Jetstar Pacific puts 540,000 tickets on sale to serve increasing demands in the period.

Representatives from both airlines said that ticket prices will not scale up and passengers are advised to book tickets as soon as possible to enjoy a good deal.

Vietnam Airlines is using Boeing 787, Airbus A350, A330 and A321 with four-star quality service on domestic routes.

For more detailed information, passengers of Vietnam Airlines should visit www.vietnamairlines.com, contact ticket agents or call customer service 1900 1100. Meanwhile, Jetstar Pacific customers should call 1900 1550.-

SSI opens new transaction office

Saigon Securities Inc (SSI) inaugurated a new transaction office on Wednesday at Nguyễn Văn Cừ Street in HCM City’s District 1.

This is SSI’s 12th transaction office in Việt Nam.

At the opening ceremony, Nguyễn Duy Linh, deputy director of the SSI’s Customer Services Department, said that after over 17 years of establishment and operation, the SSI’s transaction office network has spread across the country, with a leading market share on both the HCM City Securities Exchange (HOSE) and the Hà Nội Stock Exchange (HNX). 

The expansion of the network of transaction offices aims to increase SSI’s market share in the segment of individual customers, he added.

Nguyễn Văn Toàn, director of the transaction office Nguyễn Văn Cừ, said that the establishment of the transaction office would continue to consolidate SSI’s leading position in the stock brokerage network for clients, and at the same time expand opportunities for investors to access the capital market. 

Previously on September 21, SSI had opened a transaction office on Nguyễn Thị Minh Khai Street in HCM City’s District 1.

The two new transaction offices would continue to provide services to clients relating to securities brokerage, securities investment consultancy and securities depository.

SSI opens new transaction office

Saigon Securities Inc (SSI) inaugurated a new transaction office on Wednesday at Nguyễn Văn Cừ Street in HCM City’s District 1.

This is SSI’s 12th transaction office in Việt Nam.

At the opening ceremony, Nguyễn Duy Linh, deputy director of the SSI’s Customer Services Department, said that after over 17 years of establishment and operation, the SSI’s transaction office network has spread across the country, with a leading market share on both the HCM City Securities Exchange (HOSE) and the Hà Nội Stock Exchange (HNX). 

The expansion of the network of transaction offices aims to increase SSI’s market share in the segment of individual customers, he added.

Nguyễn Văn Toàn, director of the transaction office Nguyễn Văn Cừ, said that the establishment of the transaction office would continue to consolidate SSI’s leading position in the stock brokerage network for clients, and at the same time expand opportunities for investors to access the capital market. 

Previously on September 21, SSI had opened a transaction office on Nguyễn Thị Minh Khai Street in HCM City’s District 1.

The two new transaction offices would continue to provide services to clients relating to securities brokerage, securities investment consultancy and securities depository.

Outstanding businesswomen to be honoured with APEC award

Excellent businesswomen in the Asia-Pacific region are going to be honoured with the second APEC Business Efficiency and Success Target (BEST) Award on September 27.

The award, APEC’ first contest for women entrepreneurs, is held on the margins of the ongoing 2017 APEC Women and the Economy Forum in Hue city, Vietnam’s central province of Thua Thien-Hue.

Opening the contest on September 27 morning, Natalia Strigunova, Deputy Director of the Department of Asia, Africa and Latin America of Russia’s Ministry of Economic Development, said: “Women entrepreneurship is one of the most efficient engines of economic growth. Given volatility of the global economic and financial architecture, APEC’s main goal as well as the goal of every economy is to create the most favourable environment and give our women all necessary tools and skills to start their business.”

She noted only 6 percent of the chief executive officers (CEO) of the world’s largest corporations are women, and the 30 percent of women-owned businesses are mostly small and medium-sized enterprises. 

However, there has been some progress, the official said, adding that in the 500 Fortunes Companies 2017, the number of women holding the CEO position was up by 11. 

The main idea of the APEC BEST Award, initiated by Russia, is spreading the best practices of women-owned companies among the APEC economies and encouraging business ladies to apply promising business models based on domestic success stories, Strigunova added. 

This year’s contest attracted 12 businesswomen from 12 APEC member economies. They will have 10 minutes to present their firms’ vision, customers, finance and personnel issues and later answer questions raised by the jury.

Awards will be presented in the categories of APEC BEST Award, Highest Growth Potential, Most Innovative Business Model, International Attractiveness, Best Social Impact, Best “Green” Project, and Special Prize.

Three Vietnamese contestants are To Thi Phuong Thao – General Director of package producer VBOX Luxury Joint Stock Company, Hoang Minh Nhat – founder of the Minh Nhat bread chain, and Nguyen Thi My Lien – General Director of the Chau Thong Co. Ltd.

The 2017 APEC BEST Award is co-sponsored by Vietnam, Japan, Chile, Chinese Taipei and China.

Established in 1989, APEC comprises 21 economies, including Australia, Brunei, Canada, Chile, China, Hong Kong (China), Indonesia, Japan, the Republic of Korea, Malaysia, Mexico, New Zealand, Papua New Guinea, Peru, the Philippines, Russia, Singapore, Chinese Taipei, Thailand, the US, and Vietnam.

They account for 39 percent of the world population, 57 percent of the world GDP and 47 percent of the global trade, according to statistics in 2014.

Ha Tinh: Work begins on 2.1 trillion VND Phoenix wharfs

Phoenix Vung Ang Vietnam Co., Ltd under Singaporean Freight Links Capital Pte.,Ltd kicked off construction of Phoenix wharf area (wharfs No.5 and 6) in Ky Loi commune, Ky Anh town, the central coastal province of Ha Tinh on September 27.

The project, 450 metres in length, will be built at total investment of more than 2.1 trillion VND (92.4 million USD). Upon completion in the next 18 months, the wharfs, with designed capacity of 5 million tonnes per year, can receive ships of up to 70,000 tonnes.

Phoenix wharfs are expected to help connect Vung Ang economic zone with domestic and international marine transport system.

Speaking at the ground-breaking ceremony, Vice Chairman of the provincial People’s Committee Duong Tat Thang asked the investor to ensure the project progress and quality.

He ordered relevant departments and localities to create favourable conditions for the investor to complete the project on schedule.

On the occasion, General Director of Phoenix Vung Ang Vietnam Co.,Ltd Liweimin gave a financial support worth 200 million VND (8,800 USD) to Ky Anh town, which was affected by storm Doksuri this month.  

VNA/VNS/VOV/SGT/SGGP/TT/TN/Dantri/VNEVET