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Business in brief
Date :  16/05/2018
(Sourced from various news agencies)
  • The Government promulgated Decree No. 63/2018/ND-CP on investment in form of public-private partnership (PPP). The decree stipulates the areas, conditions, sequence, and procedures concerning the implementation of investment under the form of PPP. It regulates the investor’s equity and mobilized capital to implement the PPP investment projects. Specifically, the investor(s) shall be responsible for contributing equity and mobilizing other legal capital sources to implement the project as agreed in the project contract. The  investor’s  equity  ratio  must  not  be  lower  than  20%  of  the  total investment  capital, as for the project worth up to VND1.5 trillion (US$66 million). Regarding  the  project  with  a  total  investment  capital  of more  than  VND1.5 trillion,  the  equity  ratio  shall  be  determined  based on a principle as follows: For  the  capital  portion  of  up  to  VND1.5 trillion,  the  equity  ratio must not be lower than 20% of this portion, and for the capital portion of more than VND1.5 trillion, the equity ratio must not be lower than 10% of this portion.  (VGP)
  • Vietnam's garment-textile and footwear export turnover to Australia ranked the 2nd after China, according to businesses at a seminar held by the Vietnam Textile & Apparel Association (Vitas) in HCMC. Accrding to the Vietnam Textile and Apparel Association (VITAS), last year the two countries' bilateral turnover reached US$6.46 billion, up 22.2% over the same period last year. Of which, Vietnam's export and import turnover with Australia was US$3.3 billion and US$3.17 billion, up 15.1 and 30.1% respectively compared with the same time of the previous year. The growth rate of bilateral export-import turnover between Vietnam and Australia has increased by 29% in the last five years. VITAS Chairman Vu Duc Giang said enterprises should actively seek and capture market information, and exploit the close connection between Australia and New Zealand markets to increase market share of Vietnamese products in these countries. Vitas will help local businesses meet rules of Origin (ROO) Provisions of AANZFTA and provide a clear understanding of the trade agreement to reap the benefits from AANZFTA, he added. (SGGP)
  • PM Nguyen Xuan Phuc has approved a proposal to hire foreign consulting units or domestic and foreign joint ventures to verify the pre-feasibility study report of the Ho Chi Minh City metro line 5 project. The PM assigned the Minister of Planning and Investment as the Chairman of the State verification council to select the consulting unit, while gathering ideas of other ministries to maximise the effectiveness and economise the hiring. The Metro line 5, spanning from the new Can Giuoc coach station to Sai Gon bridge, has a total length of 26 kilometres. In the first phase, an 8.9km section will be built from Bay Hien crossroad in Tan Binh district to Sai Gon bridge. The line has a total investment of 1.562 billion EUR and an implementation time from 2009 to 2027. Under its design, the Metro line 5 will connect with line 2 at Bay Hien crossroad, line 4 at Phu Nhuan crossroad, Tan Son Nhat airport terminal in Tan Binh district, line 3b at Hang Xanh station and line 1 at Saigon bridge station in Binh Thanh district. (VNA)
  • The sixth Vietnam International Exhibition on Film and Television Technology (Telefilm) will be held next month in HCM City, showcasing products, services and technologies used in film and television. It is expected to attract more than 250 exhibitors from 15 countries and territories and more than 2,000 film and television technology professionals. On display will be TV programmes and serials; value-added and support services; technology and solutions for the TV, media, and communications industries and for image processing and transmission; and post-production services. Several seminars will be held on the sidelines on current television trends amid rapid digitisation in the TV industry globally and in Vietnam specifically. As a prestigious international exhibition specialising in film and television, Telefilm will offer visitors the opportunity to meet potential partners and learn about the latest international film and television trends. (VNS)
  • The 15th International Exhibition on Automobile, Transportation and Supporting Industries (Vietnam AutoExpo 2018) will be held at the Vietnam National Convention Centre in Hà Nội from June 6-9. The event will cover 10,000sq.m and will see the participation of the top brands in commercial cars, passenger cars and special-purpose vehicles, such as Vietnam Engine and Agricultural Machinery Corporation as well as international brands, including Gaz Group, Maz, Man Motor, Scania, FAW-Long Giang, HongYan Truck and KC Motors, in addition to imported motorbikes such as Harley Davidson, Triumph, Royal Enfield and Ducati. The expo will also showcase spare parts and components for producing, manufacturing and assembling automobiles. Besides this, it will provide garage services, banking and insurance services and consultative and assistant services for activities related to vehicle manufacturing and trading. The auto expo is the largest annual event of the automobile industry in the northern region of Vietnam. This year, the event is expected to attract 50,000 visitors. (VNS)
  • A working delegation of the European Commission’s Directorate-General for Maritime Affairs and Fisheries began a fact-finding trip to Vietnam on May 15 to inspect the implementation of recommendations related to the fight against illegal, unreported and unregulated (IUU) fishing, said a local official. The delegation will check at random the performance of the nine recommendations in Vietnam’s coastal provinces and cities, then evaluate what the country has done and whether they have met the EC’s requirements, said Deputy Minister of Agriculture and Rural Development Vu Van Tam. According to EC’s requirement, the Vietnamese seafood sector had to implement the nine recommendations in six months from October 23, 2017, to April 23, 2018. The EC also wanted Vietnam to issue sanctions and increase the level of sanctions against IUU fishing, which should be written in the revised Law on Fisheries, and give concrete evidence proving Vietnam’s efforts in the fight against IUU fishing. On April 20, Vietnam submitted a report on its efforts to address IUU fishing to the EC. (VNA)
  • MSCI, a global leading provider of research-based indexes and analytics, has eyes for Vietnamese shares when it added five local shares to its MSCI Frontier Markets Small Cap Index. In its semi-annual review released on May 15 (local time), MSCI decided to add 18 shares in the MSCI Frontier Markets Small Cap Index, five of which are Vietnamese shares. They are Ho Chi Minh City Infrastructure Investment JSC (CII), Ho Chi Minh Securities Corp (HCM), The Pan Group (PAN), Văn Phú - Invest Investment JSC (VPI) and Vietnam Electrical Equipment JSC (GEX). After this review, the MSCI Frontier Markets Index – the underlying index of the MSCI Frontier Markets Index ETF – will increase to 115, 11 of which are Vietnamese shares, accounting for 14.69% of total weights. (VNS)
  • Vinamilk will pay the interim dividend for 2018 and issue additional shares to increase the share-capital in the third quarter. On September 6, the dairy company will finalise the list of shareholders that will receive the interim dividend for 2018 at the ratio of 20% (equivalent to VNĐ2,000 per share-holding). The dividend will be paid in cash on September 26, which means Vinamilk will spend some VNĐ2.9 trillion (US$127.2 million) for this payout. Earlier, in its annual shareholders’ meeting on March 31, Vinamilk set a target of VNĐ55.5 trillion in revenue and VNĐ10.75 trillion in net profit in 2018. The 2018 dividend ratio is set at least 50% of the after-tax profit. The first payment will likely happen in the third quarter of this year, while the second disbursement will be made in May or June 2019. (VNS)
  • The BW Industrial Development JSC, a joint-venture between the US private equity fund Warburg Pincus and Vietnam’s Investment and Industrial Development Corporation (Becamex IDC), made debut in the southern province of Binh Duong on May 15. With over 2 million sq.m of industrial land and 200 million USD in initial capital, BW is considered the largest supplier of industrial properties and logistics services in Vietnam, thus meeting demand of multinational corporations and e-commerce companies. BW will support Vietnam’s sustainable development and serve as a strategic investor in the global supply chain. With a mission to offer added value services to other economies, it ensures the supply of the best solutions in real estate, mechanical engineering, electronics, automobile manufacturing, garment, leather and footwear. The company has bought land for eight projects in five localities lying in key economic zones in the north and south, including Binh Duong, Dong Nai, Hai Phong, Hai Duong and Bac Ninh. (VNA)
  • Indian carrier IndiGo Airlines has plans to launch services to 24 new international destinations, including Vietnam, in the next 18 months. From March 2019 to October 2019, the airline will open routes to Vietnam, Belgium, Italy, Myanmar, Switzerland, Thailand and China. IndiGo Airlines is the largest of its kind in India, according to Business Insider online.  The airline owns 39.5% of the country’s market share. It has a fleet of 163 aircraft as of March 2018. The carrier also plans to expand the fleet to 200 by the end of the 2018-2019 fiscal year. Currently, IndiGo Airlines is operating international routes to Nepal, Oman, Qatar, Singapore, Sri Lanka, Thailand and the United Arab Emirates. (VNA)
  • Authorities of the two districts of Ba Vì and Hoài Đức and Hanoi city’s related agencies have been urged to intensify the inspection of long-delayed construction projects and revoke the credentials of those which are violating the Land Law. Nguyễn Ngọc Tuấn, vice chairman of the municipal People’s Council who headed an inspection team in the two districts on Thursday, said that once violations were found, they should be reported immediately to the city’s People’s Committee for withdrawal. He also asked the two districts to clarify the responsibilities of local authorities concerning land management violations. The local authorities were requested to strengthen the information dissemination work so that people know about projects that are underway and can supervise them, ensuring the transparency. (VNS)
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