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Tighter bank credit to ensure bubble-free market

The State Bank of Vietnam has recently ordered commercial banks to lower the percentage of short-term capital used for mid- to long-term loans from 50 per cent in 2017 to 45 per cent in 2018 and 40 per cent in 2019. 

Q1 workforce up by 150,000

 Vietnam expects to have a total of 54.2 million people in the workforce in the first quarter of 2018, up 150,000 from last year’s final quarter, according to the Ministry of Labour, Invalids and Social Affairs (MoLISA).

Vietnam’s banking system records $440bil in total asset

 The total assets of the Vietnamese banking system surpassed 10 quadrillion VND (440 billion USD) in late 2017, according to the State Bank of Vietnam. 

VietJet inks deal to open direct flights between HCM City, Brisbane

 Vietnamese budget carrier VietJet and the Brisbane Airport Corporation (BAC) of the Australian state of Queensland signed a cooperation agreement in Sydney on March 16 to open a direct route connecting Ho Chi Minh City and Brisbane.

Indonesia urges ASEAN to strengthen patrols in East Sea

 Indonesia has lobbied countries in the Association of Southeast Asian Nations (ASEAN) to carry out maritime patrols in the East Sea to strengthen security.

PVEP sells 5 percent interest in Block 15-1/05 to Murphy

 The PetroVietnam Exploration Production Corporation (PVEP) has signed a deal on the transfer of a 5-percent interest and the administration right in Block 15-1/05 to Murphy Cuu Long Bac Oil Co. Ltd.

Prime Minister Nguyen Xuan Phuc meets New South Wales leaders

 Prime Minister Nguyen Xuan Phuc had meetings with Premier Gladys Berejiklian and Governor David Hurley of New South Wales on March 16 immediately after he arrived in Sydney, continuing his official visit to Australia. 

HCM City adopts resolutions to implement special mechanisms, policies

 The Ho Chi Minh City People’s Council adopted resolutions to implement the National Assembly’s Resolution 54 on piloting special mechanisms and policies for the city’s development at the closing session of its seventh meeting on March 16.

PM Nguyen Xuan Phuc urges Australian businesses to invest in Vietnam

 Prime Minister Nguyen Xuan Phuc has urged Australian companies to invest in the potential market of Vietnam at the Vietnam-Australia Business Forum in Sydney on March 16, which was held during the Vietnamese PM’s official visit to Australia. 

Ly Hoang Nam makes final of India F3 Futures

 Ly Hoang Nam booked a spot in the final of the India F3 Futures after beating his doubles teammate Carlos Boluda-Purkiss on March 16 in Chandigarh City, India.

Tourism property in 2017: Carrying out commitments of profit

 In the context of impressive economic growth and Vietnam’s successful hosting of the APEC meetings and events, 2017 recorded good progress in the Vietnamese tourism industry. 

BUSINESS IN BRIEF 16/3

Meeting tackles difficulties facing Japan’s food firms, Vietnam imports 2,300 tonnes of beef from US, Australia, Japanese firm takes acquisition route to VN beauty market, Vietnamese fruit and veg entering strict markets

VTVcab to hold $263mn IPO in April

 Viet Nam Television Cable Corporation Limited Company (VTVcab) will float nearly 42.3 million shares in its initial public offering (IPO) on April 17 on Ha Noi Stock Exchange.

VN central bank issues bills valued at nearly $1.9bn

 The State Bank of Viet Nam (SBV) issued bills worth some VND43 trillion (US$1.89 billion) in the past week to withdraw money from the banking system.

Assets of Vietnamese banks reach US$440.5bn in 2017

 Total assets of banks in Viet Nam by the end of last year surged 17.62 per cent against 2016 to VND10 quadrillion (US$440.5 billion).

Book of those born in Year of Renewal marked best-seller

The book 1987, containing stories of those born in 1987 — the first year after the initiation of the country’s famous Doi Moi policy — has become a best-seller, with 10,000 copies selling out only three months after its release.

Vietnamese goods less competitive because of high costs, bad design

A report from the World Bank released in 2017 showed that business costs in Vietnam are much higher than in other regional countries such as Malaysia and Singapore.

Vegetable prices plunge in northern and central regions

 VietNamNet Bridge – After waking up at 5am, Nguyen Thi Oanh, a farmer in Hanoi’s Ba Vi District, headed to the field to cut cabbages and carried them to the local market for sale.

Seminar talks fruit, veg exports

 Viet Nam’s fruit and vegetable exports are expected to top US$4.5 billion by 2020, with fruits accounting for $3.6 billion, according to the Crop Production Department.

4 dead from suspected alcohol poisoning, 1 critical

 Four persons have died, and one is in critical condition after drinking rice spirit in the central province of Quang Nam.