Vietnam Issues New Regulations on Banking Guarantees for Home Purchases
The State Bank of Vietnam has issued a circular, effective on November 15, regulating that commercial banks must issue guarantees for buyers of future property within 10 days from the date the real estate purchase contract is signed.
The guarantee means that banks would implement financial obligations to the buyers on behalf of the housing developers in case they fail to hand over the property before the committed deadline without adequately refunding the advances.
Ukraine, Vietnam Agree to Expand Economic Cooperation
At the plenary session of the Ukrainian-Vietnamese Intergovernmental Commission on Trade and Economic and Scientific and Technical Cooperation, the parties agreed on expanding the economic cooperation.
Ukraine is interested in developing cooperation with Vietnam, especially as regards obtaining permission for the export of plant products to the Vietnamese market. Ukraine also seeks to deepen cooperation in the production of engineering products, cooperation in the energy sector, namely, in the modernization, reconstruction and construction of new power stations in Vietnam.
Thai Firms Keep up M&A Interest
In the near future, Thai investors are likely to remain enthusiastic buyers of Vietnam’s equitized state firms and private companies in various sectors.
As Vietnam puts more state-owned enterprises (SOEs) on sale by the end of 2017, Thai investors have returned to the spotlight as potential bidders for stakes of the country’s flagship companies such as Vinamilk (VNM) and Sabeco (SAB).
Vietnam Cement Sales Rise in Jan-Sep
Vietnam sold 59.3 million tons of cement in the first nine months of 2017, a rise of 6% compared to the same period of 2016. The country has now fulfilled 74.1% of its whole-year plan, according to the Ministry of Construction.
Of the amount, 45.3 million tons of cement was sold domestically, a 4% rise year-on-year, while 14.0 million tons was exported.
At present, Vietnam’s cement capacity is 86 million tons per year but domestic demand is estimated at 60 million tons/year, a surplus of 26 million tons/year, according to the Vietnam National Cement Association.
Vietnam Exporter Predicts EU Yellow Card Would Drive up Production Costs
If the EU slaps Vietnam with a yellow card warning it will result in 100% of shipments from the former to the latter undergoing border inspections -- driving up production costs, reports VietNamNet, citing an exporting executive.
Ngo Viet Hoai, deputy general director of Ba Ria – Vung Tau Seafood Processing and Import Export Company, said in the event of 100% inspections, the production cost will go up, thus making Vietnam’s products less uncompetitive in the EU market.
Vietnam Seeks Ways to Boost Fruit, Veggie Exports to EU
Experts and businesses discussed ways to maintain and expand EU markets for Vietnam’s fruit and vegetable exports at a seminar in Ho Chi Minh City on October 9, VNA reported.
The EU is a potential market for fresh fruit and vegetables of Vietnam, but the country could face a decline in export revenue and stricter supervision from the EU if it fails to meet food safety requirements.
Retail Space for Lease in Hanoi Sees Best Performance in Five Years
Retail space for lease in Hanoi has recorded the best occupancy rate and rental prices in the last five years, Savills Vietnam has said in a report.
The property consultancy said at a press conference on October 11 that the average occupancy rate has hit a five-year high – 95%, up 11 percentage points from a year earlier. Rental prices of retail space have increased by about $7 per square meter to some $45 per square meter.
HCM City Wants Investment in Transport Infrastructure, Hi-tech Industry
Ho Chi Minh City prioritizes investment in green hi-tech industries, urban development and transport infrastructure, said Vice Chairman of the municipal People’s Committee Tran Vinh Tuyen at an investment promotion conference held in the city on October 11.
At the event, the city called for investment in 133 projects, including 73 in transport, 21 in urban improvement and resettlement housing construction, 11 in education and seven in flood reduction.
Yamanashi Prefecture Seeks Partnerships in HCM City
Japan’s Yamanashi Prefecture, which hosts popular tourism sites and diverse agribusiness, wants to connect with potential partners in Ho Chi Minh City for mutual benefit and development, said Governor Goto Hitoshi at a meeting with Ho Chi Minh City’s authorities.
Standing Vice Chairman of the HCM City People’s Committee Le Thanh Liem on October 11 suggested both sides join hands in building specific cooperation programs in tourism and agriculture to increase exchanges of tourists and signature commodities between the two markets.
Uber, Grab Hard Hit Top Taxi Operator Vinasun
In the last three years, ride-hailing applications Uber and Grab have decimated the business of local taxi firms. Now, taxi companies’ foreign shareholders are feeling the pain.
One of the most affected companies is Vinasun (VNS), which mainly operates in the south. Vinasun has reported slower growth rates in both net revenue and profit since the two apps entered Vietnam in mid-2014.
Ford Vietnam Recalls 119 Cars over Airbag Failure
Ford Vietnam said it is recalling 119 Ford Ranger and Ford Everest cars manufactured in Vietnam for checking and replacing failed airbags.
The recall is attributed to failure in their airbag activation devices, which might cause the safety equipment to not inflate when a collision occurs.
Vinamilk Expects its Q3 Revenue at $591 Million
Vinamilk (VNM), Vietnam’s largest dairy producer, has estimated its pre-tax profit to rise 5.66% year-on-year to 3.2 trillion dong ($141 million) and post-tax profit to rise 5.46% to 2.69 trillion dong in the July-September quarter.
The firm also forecast its third-quarter revenue at 13.3 trillion dong ($591 million), an increase of 8.4% over the same period last year.
Vietnam’s External Trade Hits $308.3 Billion in 9 Months
Vietnam’s import and export turnover increased 21.34% year-on-year to a total of $308.3 billion in the first nine months this year, of which exports rose 20% to $154.32 billion and imports expanded 22.7% to $153.99 billion, according to customs data.
Vietnam Central Bank Lowers U.S. Dollar Buying Cost as FX Reserves Hit Fresh Record
The State Bank of Vietnam (SBV), the country’s central bank, has reduced its buying price for the U.S. dollar, indicating a different approach, as the foreign exchange reserves have reached a new high.
The buying price for the greenback at the bank’s head transactions office on October 10 was quoted at 22,720 dong a U.S. dollar, down 5 dong from the fixing in place since end-June and 20 dong below the upper limit of 23,121 dong.
Tin liên quan
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Cùng dòng sự kiện
Từ khóa: Uber, Grab, State Bank of Vietnam, Vinamilk, Sabeco, VNM, SAB, HCM City, Savills, Vinasun, VNS