HCM City’s eastern region targeted to become innovative hub

The eastern region of HCMC comprising districts 2 and 9 and Thu Duc should become the city’s innovative hub given the long-established intellectual and technological facilities that have been thriving there, said Nguyen Thien Nhan, secretary of the HCMC Party Committee.

Speaking at a meeting between the HCMC government and enterprises here on Saturday, Nhan said urban special planning should be adjusted to make the eastern part of the city “an innovative city inside the city.” The three districts covering over 22,000 hectares and having a population of one million are currently home to two high-tech parks, over ten industrial and export processing zones, and 12 universities.

Nhan said the municipal government would make changes to zoning plans so as to turn the three districts into an innovative city, which “serves as the nucleus for the city’s high-tech development.”

District 9 is widely known for the Saigon Hi-Tech Park covering over 700 hectares, where investors have poured US$6 billion and employed 35,000 workers, while Thu Duc District has been aneducationalcenter with 12 universities.

“These two districts serve as two poles of technology and intellectual, and when combined with District 2 as the administrative center, the region should become a highly-interactive innovative city,” Nhan said, adding this region should also become the springboard for innovative startups.

To realize this orientation, the municipal Department of Zoning and Architecture will send a delegation to Japan this week to learn from innovative center development models there. Meanwhile, an international conference will be organized in the city in May to discuss ways to develop an innovative hub encompassing the three districts. A design for the innovative city is expected to come out later this year.

Districts 2 and 9 and Thu Duc District are strategically located at the eastern gateway to HCMC with fairly modern infrastructure facilities, which has helped spur real estate projects.

Many key infrastructure works have either been completed or underway in the past few years, connecting the city with neighboring provinces. These include the HCMC-Long Thanh-Dau Giay Expressway, An Phu Interline, Rach Chiec 2 Bridge, Ring Road 2, and the first metro line linking Ben Thanh and Suoi Tien among others.

Industry growth predicted to hit over 6.8 percent in Q1

Industry is forecast to lead all sectors in terms of growth at 6.87 percent each in the first quarter of 2018, according to the National Centre for Socio-Economic Information and Forecast (NCIF).

Dr. Dang Duc Anh, head of the centre’s Department of Analysis and Forecast, said the surge of 17 percent of the manufacturing and processing industry in the first two months of this year would drive the whole industry sector.

According to the centre, which is run by the Ministry of Planning and Investment, economic growth of the country in the first quarter may reach 6.23 percent, up from 5.15 percent in the same period last year.

The NCIF predicted the service sector will expand 6.74 percent in the first quarter, while inflation many reach 3.1 percent, higher than in the same period last year.

Continuing from 2017, progress has been seen in all economic indications in the first quarter of 2018 thanks to busy manufacturing, construction, trade, wholesale and retail, banking and tourism sectors.

GDP growth in 2018 is now predicted to hit 6.83 percent, higher than the centre’s forecast in December last year. 

The Government’s efforts in removing difficulties facing businesses are expected to help boost the industry and construction sectors.

Meanwhile, agro-forestry-fishery is forecast to continue expanding as measures to develop sustainable agriculture are becoming effective.

At the same time, economic experts said the three main factors boosting economic growth this year include drastic actions of the Government in improving the business environment, and stability in macro-economic policies.

Additionally, major projects in the processing and manufacturing sector and the newly-signed Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are predicted to lift investment and trade, they added.-

An Giang expands material tra fish farming area

The Mekong Delta province of An Giang has expanded breading areas for material tra fish (pangasius) due to increasing export demand since the start of the year, said Chief of the Office of the provincial Department of Agriculture and Rural Development Tran Dac Mau.

According to the province’s statistics office, as of mid-March 2018, prices of material tra fish remained high. The prices of young tra fish for breeding also rose due to increasing breeding demand and are at 60,000-70,000 VND per kg.

An Giang’s farming area for tra fish harvested in the first three months of the year was estimated at 239ha, an increase of 3.6 percent year-on-year while output hit 73,000 tonnes, up 3.36 percent against the previous year’s correspondent period.

The province’s farming area for tra fish currently totals 770ha, up nearly 3 percent compared to one year ago.

The An Giang Tra Fish Association (AFA) aims to have 130 households breeding tra fish on a total 160ha, along with increasing the production of tra fish farms in Chau Phu and Phu Tan districts and Tan Chau township.

Hai Phong: Infrastructure all set but few firms ready for e-business

The northern port city of Hai Phong ranked third in the 2017 e-Business Index (EBI), and though local infrastructure is all set for e-commerce, few companies are ready to trade online.

According to Deputy Director of the e-Commerce Centre at the municipal Department of Industry and Trade Le Duc Truong, some 22,000 businesses have registered to operate in the city but only 320 have e-commerce websites registered with the Ministry of Industry and Trade.

A recent survey in Hai Phong shows that 100 percent of local firms use email and search for information on the internet, however, only 4.4 percent of them are on electronic trading platforms and 14.8 percent have e-commerce websites, Truong said.

While there is a growing trend of mobile shopping, up to 89 percent of the companies have yet to develop a mobile commerce website and 95.2 percent have yet to take part in mobile-based trading, he added.

Though smartphones are the most popular tool to make online purchases in the city and more and more businesses accept card payments, most customers prefer cash. 

To fully tap local e-commerce potential, Truong advised firms to be more active in applying e-commerce and provide more solutions to help customers shop online, particularly in transportation and e-payment.

He also suggested local authorities help the firms solve difficulties in this matter and play a greater role in promoting e-business.

Hai Phong is a high potential market with more than 2.1 million people, not to mention those living in neighbouring provinces of Thai Binh, Quang Ninh and Hai Duong who come to the city.

​The city produced the most impressive growth in the overall e-business development as the city’s EBT jumped from fifth to third place last year, behind only HCM City and Hanoi, the Vietnam E-commerce Association (VECOM) announced at the recent Vietnam Online Business Forum.

The EBI was first published in 2012, aiming to evaluate the use of e-commerce and compare development among localities. The index is based on four criteria: information technology infrastructure and human resources, transactions between businesses and customers (B2C), transactions between businesses and businesses (B2B) and transactions between businesses and state agencies (G2B).

HCMC plans to build logistic centers

In its project to develop logistics till 2025 with the vision to 2030 aiming to shrinking cost, the Department of Industry and Trade in HCMC has planned to build logistics centers in locations with huge consumption market, in production districts or near ports with container terminals.

Vietnam Logistics Association and the Department of Industry and Trade jointly organized a seminar themed “Developing logistics service sector in Ho Chi Minh City” with the participation of nearly 100 logistics firms yesterday.

According to the World Bank’s Logistics Performance Index in 2016, Vietnamese logistics ranked the 64th out of 160 countries and the fourth in ASEAN after Singapore, Thailand, and Malaysia.

Vietnam is set to see very strong growth in trade over the coming years, which will support ongoing development and expansion of its logistics. The logistics sector is one of the fastest growing sectors in Vietnam, but poor infrastructure is increasing its costs.

For instance, in 2016, Vietnam’s total logistics cost was $41.26 billion making up 20.8 percent of gross domestic product (GDP) while these costs accounted for between 9 percent and 14 percent of GDP in developed countries, yet the sector contributed 2-3 percent into GDP.

Statistically, logistics cost in Vietnam is 6 percent, 12 percent and 3 percent higher than in Thailand, Malaysia and Singapore respectively. High logistics fee indirectly reduces Vietnamese products’ competitiveness in the world.

Though it has many advantages for growing, Vietnam’s logistics sector is still weak. Vietnamese firms just mainly provide domestic services such as transportation, port services, air services, storage service and loading and unloading services. Some firms are subsidiaries of foreign enterprises.

In order to address the above-mentioned weaknesses, the logistics hubs should be built.

SMEs to benefit from State support policies

The Government recently issued Decree No. 39/2018/ND-CP which stipulates a number of support policies for small and medium-sized enterprises (SMEs), concerning information supply, consultation, human resource development, innovation, and participation in industrial linkages and value chains.

Specifically, SMEs will have open access to the information specified in clause 1, Article 14 of the Law on Support of SMEs on the national portal for support of SMEs, which is managed by the Ministry of Planning and Investment, and on the websites of ministries, ministry-level agencies, and provincial-level People’s Committees.

In an effort to help SMEs develop their human resources, the State budget will subsidise at least 50% of the total cost of a training course on entrepreneurship and business administration for SMEs. The trainees of SMEs in extremely disadvantaged socio-economic localities and women-owned SMEs are exempted from tuition fees for the training course.

The provincial-level People’s Committees will assign relevant units to provide free advice and instructions for household businesses registering to be developed into enterprises.

The SMEs transformed from household businesses will be exempted from the first-time business registration fee at business registration offices if they meet the necessary requirements. In addition, they will be allowed to publicize their first-time business registration on the national business registration portal.

The SMEs converted from household businesses will be free from examination fees and first-time licensing fees as for conditional business lines. They will also be exempt from business license fees for three years from the date on which they were first granted a business registration certificate.

The State also has many policies to support innovative SMEs, concerning intellectual property consultancy; exploitation and development of intellectual property; the observance of procedures on technical standards, measurement and quality; the pilot run and finalisation of new products and business models; the application and transfer of technologies; and trade promotion, among others.

Tien Giang moves to manage quality of star apple exports

The Mekong Delta province of Tien Giang is taking measures to ensure the quality of star apples for export to the US, said Director of the provincial Department of Agriculture and Rural Development Nguyen Van Man.

Local authorities have detailed farming techniques and instructed farmers to manage agricultural product quality, he noted, elaborating that farmers have received training in disease prevention and the use of plant protection substances. They were warned not to use substances that the US bans and replace those chemicals with biological products.

Tien Giang has provided codes for new farming areas while expanding the areas which already had codes. It has also requested star apple exporters to coordinate with specialised agencies to receive timely technical support.

Man said the province is pushing star apple cultivation towards VietGAP (Vietnamese Good Agricultural Practice) standards to ensure food safety and origin traceability.

The agriculture department also asked the Plant Protection Department under the Ministry of Agriculture and Rural Development to continue reviewing the granting codes for star apple exporters and strictly examine the origin, package and quality of export batches so as not to affect the prestige of Vietnamese star apples.

The Plant Protection Department has also been asked to update localities with plant quarantine information to deal with violations in a timely manner, the official said.

He added his province is making efforts to form long-term cultivation areas to ensure stable production and supply of quality star apples. Notably, it is implementing a pilot project on recovering Lo Ren star apple trees, a Tien Giang variety.

It is also re-organising the production and consumption chain, improving star apple cooperatives, and stepping up trade promotion to boost exports to the US and other markets, Man noted.

In the Mekong Delta, Tien Giang is one of the provinces with the biggest star apple farming areas. In late December 2017, the agriculture ministry and the provincial People’s Committee announced that the first batch of Vietnamese star apples had been shipped to the US after 10 years of negotiations.

Since the announcement, Tien Giang has exported 73 tonnes of star apples to the US, according to Vo Van Men, deputy head of the plant protection division of the provincial agriculture department.

Methodical approach to exporting aquatic products to US suggested

Commercial Counsellor and head of the Vietnam Trade Office in the US Bui Huy Son has said Vietnamese firms should take a methodical approach to exporting aquatic products to the US. 

He made the statement during an interview with Vietnam News Agency following the US Department of Commerce’s 13th administrative review on countervailing duties on frozen tra fillets imported from Vietnam from August 1, 2015 – July 31, 2016 ended with record high taxation, triple that of the 12th review. 

Son said the Ministry of Industry and Trade has clearly expressed its stance on the taxation in its announcement, that it is unfair and reflects inappropriate protectionism. 

The Vietnam Association of Seafood Exporters and Processors also issued an announcement affirming that the DOC’s calculation method is improper and biased and asked the DOC to reconsider the tax on frozen tra fillets imported from Vietnam. 

Asked about what Vietnam could do to change the DOC’s decision, Son said after the ninth administrative review when the DOC refused to reconsider its decision in 2013, Vietnam later filed a complaint to the US Court of International Trade. Even if the court’s ruling, which often takes 3-4 years, is inappropriate, Vietnam could file a complaint to the US Court of Federal Claims. 

According to him, the US will continue enforcing new regulations, including the Food Safety Modernisation Act, which requires exporters to provide information regarding fishing locations and vehicles, preservation, transportation, processing and distribution. 

Therefore, the State, local agencies and associations need to store and digitalise such information to make it readily available when necessary, he said.  

Together with efforts of aquatic exporters, relevant associations, the ministries of Industry and Trade, and Agriculture and Rural Development, the media also plays a significant role in raising public awareness of fishing and aquatic processing which ensures safety and meet importers’ requirements, Son added.

Petrolimex Aviation recognised as Vietnamese top brand

The Petrolimex Aviation Fuel JSC has been named among top Vietnamese brands as part of an award held by the Ministry of Industry and Trade in response to the “Vietnamese people prioritise Vietnamese goods” campaign.

According to the award organising board, the company is a pioneer in trading Jet A-1 fuel from the Dung Quat oil refinery domestically and internationally, with a total volume of hundreds of thousands cubic metres annually.

Domestic clients, like VietJet Air, the Hai Au Aviation, and Northern Vietnam Helicopter Company, make up a large proportion in the business’ customer structure.

A representative of Petrolimex Aviation Fuel JSC said the corporation prioritises the sale of Jet A-1 fuel, particularly when the Nghi Son oil refinery is put into operation.

Launched in 2009 nationwide, the “Vietnamese people prioritise Vietnamese goods” campaign has changed customers’ attitude toward locally made products while enhancing the competitiveness of domestic enterprises.

Binh Duong prepares for WTA events

Leaders of the southern province of Binh Duong on March 20 had a meeting with a delegation from the UNESCO-WTA Technopolis Development Centre to discuss preparations for the World Technopolis Association (WTA) in the locality.

Binh Duong will host the 11th meeting of the WTA General Assembly, the High Technology Fair, and the 2018 Global Innovation Forum in this October.

At the meeting, Chairman of the provincial People’s Committee Mai Hung Dung proposed that the two sides work on a detail plans and choose the theme for each event, along with communications contents and the plan for construction of venue for the High Technology Fair.

Yoslan Nur, a UNESCO expert who led the delegation, said that the UNESCO and the WTA have cooperated from 2005 in all fields, including supporting countries in organising training courses for officials and providing technology in building high technology parks. From 2014, the Global Innovation Forum was launched, he added.

Yoslan Nur showed his delight at the development of Binh Duong, expressing his belief that the province will successfully host the events, opening more opportunities for bilateral affiliation in the future.

Earlier, Binh Duong and the WTA signed a memorandum of understanding for hosting WTA events.

Binh Duong is an industrial hub of the southern region and the country as a whole. Last year the province grew at 9.15 percent, its highest ever rate. Exports grew by 17.6 percent to 28.5 billion USD.

In the first two months of this year, domestic and foreign investments have been worth 10.3 trillion VND (450 million USD) and 435 million USD, respectively.

The province now has 31,548 domestic enterprises with registered capital of 247.5 trillion VND (11 billion USD) and 3,075 foreign projects worth 29 billion USD.

It is ranked second in terms of FDI attraction behind only HCM City.

Toyota Vietnam recalls Corolla Altis over faulty rear shock absorber

Toyota Vietnam said it is recalling 16 Corolla Altis 2017 sedans to check and fix their rear shock absorber between now and March 15, 2019.

The cars were made in Vietnam between August 11 and 12 last year. Due to a production mistake, their rear shock absorber are spun rather than staying in its fixed position, thus posing a risk of colliding with surrounding features and making noise.

The faulty can be fixed in about two hours per car free of charge at Toyota agents nationwide. 

Toyota Vietnam said it has to date recorded no reports on abnormal noise from customers. It is recalling the cars to ensure benefits for clients. 

The upgraded Corolla Altis 2017 was introduced in August last year and became available for purchase at the end of September. It has five models, sold at prices ranging between 702 to 936 million VND (30,958 – 41,277 USD).

ProPak Vietnam, Plastics & Rubber exhibition open

The International Processing and Packaging Exhibition and Conference (ProPak Vietnam) and the International Plastics and Rubber Technologies and Material Exhibition (Plastics & Rubber Vietnam) opened in Ho Chi Minh City on March 20.

According to BT Tee, Director of the UBM BES Vietnam, the organizer of the events, the ProPak Vietnam 2018 draws 420 companies from 29 countries and territories such as India, Germany, the Republic of Korea, Japan and Thailand.

Meanwhile, about 160 enterprises from 20 countries and territories are participating in the Plastics &Rubber Vietnam 2018.

The annual events, which will last until March 22, aims to introduce products and materials, machines, equipment and technologies in plastics and rubber sectors as well as processing and packaging.

Alongside, they give a chance for businesses to meet and seek partners, promoting cooperation and import-export activities, contributing to boosting the growth of the industries in Vietnam.

Paolo Lemma, Italian Trade Counsellor in Vietnam, said that most of the participating firms have distributors, representative offices or branches in Vietnam. They are seeking business opportunities in the developing market and foster connections with local peers.

The manufacturing of packaging machines is one of the most dynamic industries of Italy with the involvement of about 300 production facilities, he said, adding that over 50 percent of automatic packaging machines in the world are originated from Italy and Germany.

The plastics and rubber sectors of Vietnam have drawn great attention of many investors both at home and abroad.

In the January-November period of 2017, Vietnam earned 2 billion USD from exporting 1.2 million tonnes of rubber, up 39 percent in value and 8.4 percent in volume. Meanwhile, plastics exports grew by 17.3 percent to over 3 billion USD in 2017.

Cultivation law promotes farm produce’s competitiveness

Cultivation law should be issued to facilitate plantation and improve values and competitiveness of agricultural products to meet domestic and export demand.

Phan Xuan Dung, Chairman of the National Assembly’s Committee on Science, Technology and Environment, made the statement at a conference that was held in Hanoi on March 20 to seek international experience and comments on the draft cultivation law.

Dung said that once the law takes effect, comprehensive management will be applied for cultivation activities in value chains.

Regarding the draft law on cultivation, Nguyen Hong Son, Head of the Crop Production Department under the Ministry of Agriculture and Rural Development, said that as compared to the Ordinance on Plant Varieties, the draft has some new points, including the recognition of local aged old varieties in production and private sector involvement in the testing of plant varieties.

The draft law also regulates the focused production zones and management of plantation zones to encourage the production value chain. Contracts to connect farmers with enterprises are also stipulated in the draft law.

At the event, representatives from the Southeast Asia Regional Initiatives for Community Empowerment (SEARICE), the Food and Agriculture Organisation (FAO) and Oxfam talked about challenges and trend of the global agricultural production as well as the role of the farmers in varieties management and food security.

The conference will close on March 21.

Kien Giang moves to support local fishermen

Implementing the Government’s Decree No 67/2014/ND-CP on offshore fishing development, the Mekong Delta province of Kien Giang has built and upgraded 59 fishing and logistic ships at total cost of 577 billion VND (25.4 million USD).

Of the sum, 410 billion VND were sourced from credit loans to support local fishermen. To date, 38 ships were put into operation.

The decree, which came into effect in August 2014, stipulates policies on investment, credit, insurance and tax incentives to support fishermen and ship owners who wish to build new fishing boats, upgrade existing boats and buy fishing and marine equipment, among others.

The provincial fishery sector has worked with relevant authorities and other coastal provinces to raise awareness among fishermen, putting an end to illegal fishing in foreign waters.

Vietnam received a “yellow-card” from the European Commission (EC) because of its failure to meet standards over illegal, unreported and unregulated (IUU) fishing last year, and the country has been offered the opportunity to take measures to rectify the situation within six months. The EU will assess Vietnam’s efforts to fight IUU fishing in April.

The "yellow card" is followed by a "green card" if issues are resolved or a "red card" if they are not. A “red card” can lead to a trade ban on fishery products.

On December 13, 2017, Prime Minister Nguyen Xuan Phuc issued Directive 45/CT-TTg on some urgent tasks and solutions following the EC’s warning.

To carry out the directive effectively, the province has intensified inspections over fishing activities, and taken strict punishment against violations of regulations on fishing and ship registrations and management.

In addition, Kien Giang has launched a project to improve the quality of product values, reducing losses as well as apply advanced technology to preserve products after harvest. It is also devising a project to inspect and re-arrange local fishing activities in Kien Giang’s waters.

The province boasts a fishing ground of more than 63,000 sq.km. Since the start of 2018, Kien Giang’s seafood output exceeded 90,000 tonnes, equivalent to 16 percent of the year’s plan and up 4.6 percent year-on-year. In 2017, the figure was above 548,000 tonnes, accounting for 20 percent of the country’s output.

Can Tho conference to promote investment in logistics, tourism, IT

The Mekong Delta city of Can Tho will be calling for investment in local logistic services, tourism, hi-tech agriculture and IT projects at its investment promotion conference slated for August 8-10.

The information was released by Truong Quang Hoai Nam, Vice Chairman of the municipal People’s Committee at a meeting to review preparations for the conference on March 20.

Nam underlined the significance of the event, saying that it aims to introduce the city’s socio-economic achievements and potential, as well as policies on investment attraction to domestic and international partners.

The conference will be chaired by the Prime Minister, the Minister of Planning and Investment, the Secretary of the municipal Party Committee, and the Chairman of the municipal People’s Committee. It is expected to welcome 500 delegates, including 100 foreigners.

A ceremony will be held in the framework of the conference to present investment scheme and investment license certificates to the Vinmex Can Tho General Hospital project, the 6,000 hectare organic dairy farm project.

In 2017, trade promotion activities helped the city lure investment and increase export revenue. 

Some 77 foreign direct investment projects worth 656 million USD landed in the city in the year.

The city earned nearly 1.8 billion USD from export and service revenue, 5.9 percent above its goal and 13.9 percent higher than the figure in 2016.

Vietnam makes every effort to successfully host ASOSAI 14

The State Audit of Vietnam (SAV) wishes to receive the positive contribution from the State Audit of Malaysia in order to successfully organize the 14th Assembly of the Asian Organisation of Supreme Audit Institutions (ASOSAI).

The statement was made by the State Auditor General of Vietnam, Ho Duc Phoc at a working session with Deputy Auditor General of Malaysia Khalid Khan in Hanoi on March 20.

At the meeting, both sides discussed the detailed programs of the event such as issues related to the Governing Board Meeting, the draft Hanoi Declaration, election and vote counting.

State Auditor General of Vietnam Ho Duc Phoc highly appreciated the support and experience sharing of Malaysia’s National Audit Department (NAD) during the past time, both in terms of bilateral cooperation and particularly the support of the State Audit of Malaysia during the process of hosting such an event as well as preparations for the 14th ASOSAI Assembly.

Mr Phoc voiced his continued support for boosting bilateral ties at bilateral and multilateral forums, especially ASOSAI as well as continuously facilitating cooperative activities with the State Audit of Malaysia.

He also expressed his desire to continue receiving the positive contribution from the State Audit of Malaysia so as to successfully host the 14th ASOSAI Assembly and well perform its role as ASOSAI Chair for the 2018-2021 tenure.

Positive outlook for Hanoi and HCM City's office rental market

Office rents in HCM City are 50 percent higher than in Hanoi, according to the Vietnam Real Estate Market Outlook by the real estate firm Commercial Real Estate Services (CBRE).  

The real estate markets in both Hanoi and HCM City supposedly had a great year in 2017. CBRE predict that the real estate markets in both cities will continue to develop thanks to increased FDI and improved infrastructure.

While more office building projects completed last year in HCM City, Hanoi still suffers a severe lack of offices which led to a first significant price hike in a decade. However, according to CBRE, the office rents in HCM City still double those in Hanoi and this gap is not going to close any time soon.

There are not many new office building projects in Hanoi. However, this also means the market has time to absorb the leftover stock. The occupancy rate in grade A buildings was 91% as of late 2017, the highest since 2011. New supplies of rental offices are expected to increase by 4-8% a year from 2018 to 2019.

CBRE forecast that the annual rents for grade A buildings in Hanoi will increase by 3.5% and the occupancy rate will reach 98% this year. Banks and tech companies are in an active search for new headquarters. Education facilities and logistics company will continue to be regular customers.

HCM City's market also shows positive signs for 2018-2020 period thanks to sustainable economic growth and metro line projects.

New projects have been announced near the city's centre, an area has been neglected before, in order to meet demand for the next three years. Despite current high monthly rents of USD38 per square metre for grade A and USD21 for grade B buildings, prices will continue to increase by 2% each year.

Prices for grade B buildings will see a larger increase due to lower supply.

FPT Software now GE Digital authorised reseller     

FPT Software announced that the company has signed a resale agreement with GE Digital to commercialise its software solutions on Tuesday.

According to the agreement, GE Digital has officially named FPT Software an authorised reseller of GE Digital’s products and services in South Asia, specifically for its Automation, MES, Platform and APM Classic solutions.

The two companies will collaborate to deploy from pre-sales to sales and marketing activities, delivering technical support to customers initially in Viet Nam, Singapore, Malaysia, Thailand, the Philippines and Indonesia.

In addition to the reseller agreement, FPT University has also signed an Academic Alliance with GE Digital, the Predix Developer training programme.

As a part of the Academic Alliance, FPT University aims to train certified instructors to train qualified students to build apps faster and smarter, embarking on the leading edge of digital twin and edge-to-cloud computing. From the synergies of FPT University and GE Digital, the overall competitiveness of the domestic labour pool can benefit.

“GE Digital is pleased to provide the tools to help Vietnamese industries transform their businesses and lead the digital industrial era through our Predix portfolio. FPT Software’s expertise in cloud computing, mobility, BI and analytics, coupled with GE Digital’s deep domain expertise and global scale make this partnership an exciting landmark for the Industrial IoT in Viet Nam,” said Bill Ruh, CEO of GE Digital and chief digital officer of GE.

“Our partnership with GE Digital, a global market leader in Industrial Internet is a testament to FPT’s commitment to help Vietnamese and global businesses drive digital transformations. Accordingly, expanding our partnership opens doors to inspiring digital innovations and limitless global job opportunities for local young talents,” said Truong Gia Binh, FPT’s Chairman. 

Bosch products to be displayed at Demo ProSound Vietnam     

Bosch Security has announced that its certified partner, Truong Thinh Equipment Sound-Light Company, Ltd, will demonstrate the powerful sound output of electro-voice’s X-Line advance X2 line array system and its excellent portable loudspeaker range consisting of the new ELX200, EVOLVE50 and EVID S at the Quan Khu 7 Stadium this weekend.

With more than 10,000 registrants, Demo ProSound Vietnam continues to be the biggest platform for music enthusiasts and professionals working in the sound and entertainment industry to meet, experience the latest technologies, promote cutting-edge products, and generally enjoy two days of unforgettable performances.

Terence Ng, general manager (Vietnam, Cambodia, and Myanmar), Bosch Security and Safety Systems, said: “Coming to the Demo ProSound Vietnam for the second time, we are very thrilled that we are able to showcase our X-Line Advance line array loudspeakers and introduce new products in the portable sound family.

“Rather than just talking about ourselves, we want to create an ‘experience’ and let participants enjoy what Electro-Voice has to offer through diverse musical performances and let them evaluate us themselves.”

The latest loudspeaker system from Electro-Voice combines innovative new technologies and time-saving features that work together to exceed the increasing expectations of audiences, performers and production professionals all over the world.

For the event, Truong Thinh will install a twin 12-box line array of Electro-Voice X2/212-90 mains (24 units) and 16 X12-128 subwoofers.

Backed by 16 TG7 amplifiers equipped with RCM-28 remote control module and a NetMax N8000 system controller, the system is capable of producing powerful sound output to fully cover the event venue.

Besides, the latest members of the portable loudspeakers category will be introduced at the event. The EVID-S series incorporates low-profile looks with robust, set-it-and-forget-it reliability with no compromises, which are ideal for both indoor and outdoor applications.

With a potent blend of performance and portability, ELX200 series offers real professional audio quality, precision control and EV-engineered components in an ultra-lightweight package.

Lastly, the EVOLVE 50-powered column loudspeaker offers sleek design, ease of transportation and setup and superior sound output with wide yet even coverage.

Pham Ngoc Truong, director of BSCP Truong Thinh Equipment Sound-Light Company Limited, said: "Electro-Voice has been a pioneer in the line array market, and we are proud to be the first provider of the X-Line Advance X2 line arrays in Viet Nam since November 2016 because we are now able to give customers the experience of a lifetime.

“This year we aim to meet the increasing expectation of audiences, performers, and fellow participants for our X-Line Advance systems.

“Moreover, we will introduce the newest offerings from Electro-Voice that combines modern design and quality with wide applications for the Vietnamese market.”

Begun in 2017, Demo ProSound has quickly become the biggest platform for top providers of professional sound systems in Viet Nam.

With the participation of 12 national and international brands, the two-day event on March 22 and 23 will be packed with fantastic music performances, product introductions and experience programmes. 

VPBank to lift charter capital     

Viet Nam Prosperity Joint Stock Commercial Bank (VPBank) plans to increase its current charter capital from VND15.7 trillion (US$690 million) to VND27.8 trillion in 2018, the bank announced at its shareholders’ meeting held on Monday in Ha Noi.

The plan for raising charter capital includes the following mechanisms: issuance of shares for dividend payments instead of cash, issuance of shares using reserves to supplement charter capital, issuance of shares to VPBank staff under the Employee Stock Ownership Plan (ESOP) programme, private shares placement for local and foreign investors and the distribution of surplus capital.

The bank plans to make dividend payments in the form of common shares by utilising retained profits after allocating profit in 2017 and issuing common shares to raise capital from owner’s equity.

In the second quarter of 2018, VPBank also plans to issue shares worth nearly VND337 billion—equivalent to about 1.7 per cent of the bank’s charter capital at the time of issuance—to its staff under the ESOP programme.

In third quarter of 2018, the bank will buy over 73 million dividend preferred shares, with capital sourced from the firm’s capital surplus (VND1.3 trillion) and development investment fund (VND1.2 trillion).

VPBank will conduct private placement for local and foreign investors to raise charter capital. The maximum offer is about 15 per cent of total common shares at the time of issuance.

The last mechanism to raise charter capital will be implemented in the fourth quarter by distributing bonus shares from capital surplus gains after the 2017 private placement. The total surplus distributed to common shareholders is expected to be more than VND4.6 trillion. After surplus distribution, the charter capital will be raised to VND27.8 trillion.

With the tentative VND12 trillion capital surplus as results of the abovementioned actions, VPBank plans to use VND8.500 billion to raise mid- to long-term capital to serve credit growth.

At this meeting, VPBank’s shareholders also approved the bank’s business plan for 2018. Main targets include reaching total assets of VND359.4 trillion, customer deposits and valuable papers of VND241.7 trillion, a non-performing loan ratio below 3 per cent and profits before tax reaching VND10.8 trillion.

According VPBank, 2017 is the final year of the bank’s five-year transition period from 2012-2017.

By the end of fiscal year 2017, VPBank was named one of Viet Nam’s top five joint-stock commercial banks and one of the country’s top three retail joint-stock commercial banks.

As of December 31, 2017, the bank’s total assets reached VND278 trillion, outstanding loans reached VND196.7 trillion and capital mobilisation reached VND199.7 billion.

VPBank’s total operating income in 2017 reached VND25 trillion, up 48 per cent from 2016, recording the highest level ever achieved by the bank, helping to bring the bank’s compound annual growth rate (CAGR) to 51 per cent.

Before-tax profit in 2017 reached VND8.1 trillion, the highest level ever, up 65 per cent year-on-year and meeting 120 per cent of the yearly target.

The non-performing loan ratio was controlled at less than 3 per cent as regulated by the State Bank of Vietnam.

Also in 2017, the bank’s charter capital has increased from VND9.2 trillion to VND15.7 trillion.

An important milestone of VPBank in 2017 was the listing of more than 1.3 billion shares on the Ho Chi Minh Stock Exchange (HOSE) with the reference price of VND39,000 per share.

As of March 16, 2018, VPBank’s share price was VND64,300 per share and market capitalisation reached VND96.3 trillion, ranking fourth among the listed banks.

The bank said it would continue to maintain its retail banking strategy in 2018, specially focusing on digitalisation of financial products and services to better meet customers’ demand and create new growth momentum.

It will also enhance association with financial technology companies and strategic partners to create a diversified financial ecosystem, which could provide better products to all market segments.

Land lot prices spike in HCM City     

A spike in price for land lots in HCM City’s suburban districts has been occurring since the end of 2017 due to high demand.

A representative of a real estate exchange company in District 9 said the price of land lots had been rising steadily by 10 to 15 per cent since Tet (Lunar New Year), while some plots in the outskirts of HCM City had increased by 30 per cent.

Offered lots are usually bought very quickly.

One woman said that a 56-sq metre wide piece of land lot that she bought in the morning and put up for sale was immediately bought by someone else in the afternoon, netting her VND700 million (US$30,730).

In another case, one man said that he wanted to buy a land lot in Thu Duc District’s Pham Van Dong Street, which was VND3.3 billion at the end of 2017, but then decided to wait until after Tet to buy it. But it was bought by someone else for VND3.9 billion.

Lots in the western part of the city such as Binh Tan and Binh Chanh districts are also seeing massive increases in prices. Some have nearly doubled in value.

A man in Binh Tan District said: “I just bought a 120 sq metre wide land lot on Ten Lua Street for VND5.5 billion. Now someone is willing to pay VND9.5 billion for it, but I will hold on to the land because I think its value will increase in the future.”

According to Tran Thi Cam Tu, general director of Eximrs Real Estate Company, people who profited from stock investment since the end of last year are now investing in land instead.

A financial expert said that people were investing in land instead of putting savings in banks due to the low interest rates now offered by banks. "Investing in land lots is more profitable and affordable compared to property," he said.

"There is only a limited amount of empty land, but demand is always rising, so prices will increase accordingly," he added.

Tran Khanh Quang, general director of Viet An Hoa Real Estate Company, said that land lots in the eastern part of the city were rising in value, while the price of land in the southern part remained relatively unchanged.

This was due to the eastern area’s development of infrastructure, which had increased the value of the land.

Despite the price spike and expected profits, customers are urged to be cautious and avoid paying more than what a lot is actually worth.