VN Index rebounds, boosted by VIC and MSN

Longer morning stock market hours aim to promote liquidity (16-05-2009) HA NOI — Stock market trading hours will be extended by 15 minutes in the morning from next month following the State Securities Commission approval. The longer trading hours will help activate transactions and promote market liquidity, commission Market Development Department head Nguyen Son said. The commission is working with stock exchanges and the securities depository centre to revise the capacity of technical and payment systems for the longer trading hours, Son said. Previously, the commission planned to lengthen the trading hours to the whole afternoon which would have helped investors catch up with what was happening in the world market, he said. "But the extra session needed more advancing technical and payment systems which take time to get working well." In the attempt to promote investment activities in equity market, the commission submitted a draft on a trading method to the Ministry of Finance in which it allowed investors to open more than one account and sell or buy in the same session. At present, an investor has only one account open in one securities firm and each investor is allowed to sell or buy shares in a single session. — VNS... [read more]

The proposal aims to bring in more quality tourists and maintain the country’s traditional tourism markets. It is also intended to create higher economic value and distribute tourism income to the regional areas of the country. Apart from the domestic market, the new tourism campaign also targets international markets, such as China, India, ASEAN, East Asia, and Europe. Activities to mark the Thailand Tourism Year 2018 will begin in November this year and will continue until the end of next year. The Ministry of Tourism and Sports has asked the public and private sector to join in hosting various activities to support the 2018 tourism year. The National Tourism Policy Committee will supervise tourism promotion in line with the campaign in order to achieve the set target. The Tourism Authority of Thailand (TAT) recently held the annual TAT Action Plan for 2018 meeting, which covers both international and domestic tourism. TAT’s marketing plan 2018 has been designed to serve the purpose of generating revenue and increase visitor arrivals. It will also follow the development agenda of Thailand 4.0, based on the Sufficiency Economy Philosophy, as well as Inclusive Tourism that maintains a balance between the economy, society, and the environment. All these strategies are in line with the 12th National Economic and Social Development Plan and the Second National Tourism Development Plan. Major activities include sports, gastronomy, marine, medical, and wedding and honeymoon tourism. Emphasis will also be placed on "ASEAN…... [read more]

A Nielsen report shows that revenue from the global online tourism market in 2016 was US$565 billion, an increase of 13.8% from a year earlier. Nielsen has predicted that Asia Pacific would surpass North America to become the world’s largest online tourism market. The South East Asian market is expected to see a 4-fold increase, according to survey by Google and Temasek Holdings conducted in 2016. It would reach US$90 billion by 2025. Ten percent of the revenue, or US$9 billion, would go to Vietnam. Lai Viet Anh, deputy director of the Ministry of Industry and Trade’s E-commerce and Information Technology Agency, said that up to 45% of Vietnamese internet users book hotel services or air tickets, with the figure increasing by 11% per annum. According to VECOM (Vietnam E-commerce Association), the online ticket booking market in Vietnam is worth roughly US$3 billion, while the online tour and hotel room booking market is worth US$1 billion. The online tourism market is now valued at US$4 billion. “Vietnam’s online tourism market is a new gold mine,” said Do Huu Hung, CEO of Interspace. In order to exploit the potential of the market, businesses need to make professional and methodical investments instead of ‘hit-and-run’ projects.  “The tour & hotel room booking market is being controlled by foreign invested enterprises or overseas businesses,” he said. “Agoda, for example, controls 40-50% of the Vietnamese market.” To develop online tourism, businesses need to have…... [read more]

At lunchtime, bank officer Dang Thu Thuy of Hanoi, for example, placed an order via phone 15 kilos of Australian grapes and 8.5 kilos of Rose apples from a fruit shop.  Thuy said she usually buys imported fruit. “Australian grapes are big and sweet, priced at just VND50,000 per kilo. If you get a whole box of Rose apples, you’ll just have to pay VND43,000 per kilo only. The prices are very reasonable,” she said, adding that imports have become as cheap as domestic products.  The owner of a fruit shop confirmed that imported fruit is getting cheaper with prices of some products falling by 50%. American cherries, for example, which sold at VND350,000-700,000 per kilo, are now VND180,000-200,000. MARD has reported that Vietnam imported US$216 million worth of fruit and vegetables in July and US$852 million in the first seven months of the year. This included US$659 million spent on fruit imports, a two-fold increase compared with the same period last year. Dao Anh Tuan, director of a fruit import company in Hanoi, said the company only imported fruits grown in temperate zones which cannot be grown in Vietnam, such as kiwi, apple, pea and cherry. But now, it imports mango, longan and coconut which are grown in many areas of Vietnam. A kilo of domestically grown custard-apple is priced at VND40,000-60,000 only. However, Vietnamese pay VND500,000 for every kilo of Taiwanese products.  Many types of fruits which…... [read more]

Natural scenery: Ta Dung Lake in the province of Dak Nong province (Photo: VNA)   Hanoi (VNS/VNA) - Original photos and videos featuring the wonderful landscapes of Vietnam and interesting life stories of its inhabitants are on display at a new exhibition in Hanoi. The Go Explore Vietnam Immersive Art exhibition presents a selected collection of photography and videography artwork, featuring different destinations across Vietnam to create an immersive art space, combined with diverse visual and sound effects such as lighting, experimental/electronic music and art performances. “We want to bring the image of Vietnam as well as the Vietnamese people, art and cultures closer to the world through creative photographs and videos. Through this art and cultural event, we want to create a chance for everyone to experience art, including both art lovers and the travel community,” said Huong Nguyen, a travel blogger and founder of the exhibition project. It comprises three main art spaces: Landscapes of Vietnam, Humans of Vietnam, and Life in Vietnam. Visitors can admire landscape photography featuring gorgeous travel destinations in Vietnam shot by drone cameras, portraits of Vietnamese people, photographed by international artists who have travelled throughout the country; and typical daily life in the country’s various regions, reflecting a mixture of traditional and modern influences. Sound and visual elements take visitors to different places across Vietnam. They can better discover interesting stories of the life and people in Vietnam through the filming of scenes and photographs. The exhibition display…... [read more]

The imported automobile market in Vietnam have had numerous disturbances after the scandal of the official BMW distributor importing its newly introduced BMW 320i Sport illegally as well as the withdrawal of the official Renault distributor. Auto Motors Vietnam, the authorised dealer of Renault, is preparing to withdraw from the country altogether Due to consecutive losses in business operation, Auto Motors Vietnam, the authorised distributor of Renault, has narrowed down its operations and wants to transfer its distribution rights to other businesses in order to withdraw from Vietnam. According to newswire Lao Dong, automobile sales, particularly imported units, has seen a plunge, impacting Auto Motors Vietnam’s revenue to a degree that the company now wants to withdraw from Vietnam after seven years of operation. The company sold out the remaining automobiles and stopped importing new units, while simultaneously looking for a partner to transfer the distribution rights before they withdraw from Vietnam. At present, the company’s showrooms in Ho Chi Minh City are closed. Regarding the showroom in Hanoi, it has stopped sales and is completing the procedures and supplying services for passengers who previously bought automobiles. Auto Motors Vietnam started to distribute Renault automobiles in mid-2010 and grew its distribution system rapidly. However, Renault is in the high-end automobile segment with high prices, thereby, after a short time under sales pressure, the company was forced to cut prices of some models by…... [read more]

NDO – GDP growth has been the focus of much public opinion in recent months. It is only possible to achieve the 6.7% growth rate target for 2017 if the government controls macroeconomic risks in the context of high credit growth. Second quarter witnessing a sudden growth Normally, Vietnam's GDP has a low growth rate in the first quarter, before accelerating gradually in the following quarters. However, the growth rate in the second quarter of this year is higher than that of the previous year, at more than 1 percentage point and can be considered as a sudden increase. Since 2001, this situation has only happened once, coming in the second quarter of 2009. If this special case is excluded, the quarterly increase of 1 percentage point has only occurred six times from 2001 to 2016, all falling in the third quarter. Whilst the agricultural sector contributed just 0.43 percentage points and the industrial and construction sector 2 percentage points, the service sector contributed 2.59 percentage points. It is thanks to the service sector’s growth of 6.85% in the first six months of the year. Compared to the past few years, this growth rate tends to return to the 2006-2008 period, in which Vietnam experienced the highest growth rate in almost two decades. The basis for a “sprint” With GDP growing dependent on the service sector, as in the first six months of 2017, the outlook for economy growth in the second half of the year is relatively bright. Statistics…... [read more]

Under the memorandum of understanding (MoU) signed this morning with Vietnam National Shipping Lines (Vinalines), Rent-A-Port N.V. may purchase 10 per cent of Vinalines' stake and may also have other possible cooperation in the projects of a terminal and a logistics facility in Lach Huyen and a general cargo terminal in Dinh Vu in the northern port city of Haiphong. The MoU signing ceremony  this morning marked a possible cooperation between Vinalines and Rent-A-Port On August 30, 2017, the MoU signing ceremony between Vinalines and Belgian Rent-A-Port and Deep C Industrial Zones (including the Belgian government’s investment) took place in Hanoi. The MoU aims to utilise the potential, the expertise, and experience of both parties to promote a transportation link between Vietnam and the EU. Accordingly, there may be possible cooperation between parties in the projects of a terminal and a logistics facility in Lach Huyen and a general cargo terminal in Dinh Vu. In particular, a joint venture to develop the terminal in the area of Lach Huyen deepwater seaport may be established. Besides, there will be another joint venture to develop a logistics hub on a scale of around 250 hectares, opposite the aforementioned terminal to optimise loading and unloading, storing, processing, and distributing grain to meet the increasing demand. In addition, Rent-A-Port may participate in the 630-metre General Cargo Terminal project in Dinh Vu. This project is now invested by Vinalines Dinh Vu, in which…... [read more]

Corporate establishments and representative office openings have been mushrooming in big cities in recent years on high demand for office space. This is also an opportunity to rapidly develop officetel, a portmanteau of office and hotel. Potential of officetel model As a new model, officetel has just appeared in the two major cities of Hanoi and Ho Chi Minh City, with most projects located outside the downtown areas. In Ho Chi Minh City, there are about 40-50 officetel projects invested by many investors like Bitexco, NovaLand, Vingroup and Hung Thinh. The largest city of Vietnam is expected to have nearly 8,000 officetel units by the end of 2017. The Hanoi market has also witnessed some of its first officetel projects with a total supply of about 1,000 units. Typical projects include Dcapitale Tran Duy Hung, invested by Vingroup and Officetel Giang Vo. Currently, officetel has a wide range of space areas for enterprises, starting from 30 square metres to over 150 square metres. In addition, this model holds a price advantage over conventional apartments of the same area. With Vietnam’s economic integration, more foreign companies are present in Vietnam and bringing more foreign people to the Southeast Asian nation. As their stay in the country is not very long, it is not really effective to spend large sums of money to buy luxury apartments. Therefore, the officetel model is the perfect solution to this. The officetel model also has distinct privileges…... [read more]

NDO – An international campaign aimed at raising public awareness concerning elephant protection was launched in Ho Chi Minh City, on August 30. Co-organised by the Centre of Hands-on Actions and Networking for Growth and Environment (CHANGE) and WildAid, the "Ivory Free" campaign is part of the global wildlife relief programme entitled “When the Buying Stops, the Killing Can Too.” Do Quang Tung, Deputy Head of the Ministry of Agriculture and Rural Development's Office, said that from approximately 1.2 million individuals in Africa in 1979, the number of African elephants has dropped to just over 420,000. Two thirds of the elephants have been killed mainly for ivory in order to serve the demand of Asian countries and every day the world loses around 100 African elephants. Previously in Vietnam, there were over 1,000 elephants but now the country has only about 100 individuals living along the border with Laos and Cambodia. In the last ten years, Vietnam has become an illegal ivory transit point for transportation to other countries. According to CHANGE, the most recent data showed that around 33,000 elephants are killed each year for ivory. China accounts for 70% of the global demand for ivory and the ivory is used to make carvings, jewellery and handicrafts and is considered a symbol of wealth. Worryingly, the profits from the sale of ivory are very high, estimated at US$450-900 per kg, only behind drug trafficking in terms of profits. Wishing to prevent ivory trafficking in Vietnam in order to contribute…... [read more]