Vietnam Economy Forum

[MohitV]

well guys i juss wanna say that elly tran ha is awesome .....

 

[Viet]

the biggest problem for VN is actually the citizen with the same slave mentality worshipper of globalistion like the Viets here on defence pk
completely disgusting are your Viets did not even care for your own people but just introduce ridiculous nonsense like this

where do you live? on the moon?

 

[Minjitta]

the biggest problem for VN is actually the citizen with the same slave mentality worshipper of globalistion like the Viets here on defence pk
completely disgusting are your Viets did not even care for your own people but just introduce ridiculous nonsense like this

Well you and your slave mentality using your master English language to post here. What a hypocrite trolls. Go get a life, and stop crying to your master.

 

[NiceGuy]

Ex-PM Tony Blair delivers speech at Da Nang event

TUOITRENEWS

UPDATED : 11/18/2013 11:04 GMT + 7

Former British Prime Minister Tony Blair was in Vietnam over the weekend to attend an international conference together with 120 of the world’s billionaires and investors.

>> World billionaires’ private jets in Da Nang

The workshop, titled Creative Connection, was hosted by UK bank Standard Chartered and organized by a Singaporean PR agency at the InterContinental Danang Sun Peninsula Resort in the coastal city of Da Nang from November 15 to 17.

Blair, who had been invited to deliver a speech at the event, arrived in the city on November 16 via his black private jet Blair Force One, reportedly worth US$48.36 million.

The former PM was the only attendee who arranged to have his aircraft landed and put under tight security at the military terminal belonging to Vietnam’s air force.

A source close to Tuoi Tre said the event attracted more than 120 guests who arrived in Da Nang from many financial centers worldwide via 19 costly private jets and a charter flight from Singapore.

The attendees were billionaires from financial and tourism hubs in Saudi Arabia, Hong Kong, Singapore, the Philippines, Thailand, and Indonesia. They landed in planes numbered N383AJ, VPBJT, TPJ57DP, JJA095, and AJ 601.

The 11 private jets are under tight security at Da Nang airport.

The attendees were going to enjoy a dinner in Hoi An on Saturday. But both the city and its renowned Old Quarter were heavily flooded that day, so the dinner was relocated to the resort.

Normally, local residents and tourists can pay VND700,000 for a ticket to tour and take photos at the resort, but admission was suspended during the three days of the conference.

It is reported that the organizers booked all of the rooms at the InterContinental for the event.

Room rates range from VND7 million to VND120 million ($350 - $6,000).

One of the attendees, a CEO, booked the Royal Residence room for three nights at $6,000 each. Earlier this year a Saudi Arabian princess also chose to stay in this room during her visit to Da Nang.

By the end of Sunday, all of the guests had checked out and left Vietnam.
Ex-PM Tony Blair delivers speech at Da Nang event | Tuổi Trẻ news

Seem like VNese will get rich soon

 

[Viet]

Seem like VNese will get rich soon

perhaps in 10 years

 

[yue10]

where do you live? on the moon?

Well you and your slave mentality using your master English language to post here. What a hypocrite trolls. Go get a life, and stop crying to your master.

recently I have learned the new word of nguy from internet, that is fit for your Annams mentality, VN is in desperate need of mix Hitler/Park Chung Hee to take care these sick mentalities

well guys i juss wanna say that elly tran ha is awesome .....

no! just stop your pervert mentality and stop look at the Vietnam girl ok my India friend

 

[Viet]

recently I have learned the new word of nguy from internet, that is fit for your Annams mentality, VN is in desperate need of mix Hitler/Park Chung Hee to take care these sick mentalities

how do you comment this?

Asiana adds Hanoi-Incheon flights

(VOV) - Asiana Airlines has announced it will add four more weekly flights to its Hanoi-Incheon route as of December 9.

Updated : 11/19/2013 5:56:54 PM
source: Voice of Vietnam

Asiana will expand the route’s current seven to 11 flights per week departing Mondays, Wednesdays, Fridays, and Sundays.

Asiana’s Chief Hanoi Representative Seon Jong RoK said the new flights coincide with the beginning of a two-week tourism promotion starting on December 9. Passengers will have the rare chance to experience VIP level service at reasonable prices.

If Asiana follows through on its plans to add another three weekly flights in early 2014, Hanoi and Incheon will be served by two flights every day.

The number of Vietnamese visiting the Republic of Korea (RoK) has increased significantly in recent years, up 30% in July this year alone. Approximately 108,000 Vietnamese tourists will have visited the country by the end of November 2013.

Asiana’s decision seeks to meet the increasing travel demands of both peoples.

 
Discount on Vietnam-RoK flights

Updated : 11/12/2013 6:18:32 PM
source: voice of Vietnam

(VOV) -The national carrier Vietnam Airlines (VNA) is offering 25–30% discounts on flights to the Republic of Korea (RoK) as part of a VNA and Korea Tourism Organisation (KTO) campaign launched on November 12.

Under the campaign, flights from Vietnam to the RoK departing between November 15, 2013 and March 31, 2014 will be eligible for the discounts (excluding the Lunar New Year holiday). The KTO’s Hanoi office wants to see a 20% improvement in Vietnamese tourist numbers from 2012’s benchmark.

The VNA and KTO will also cooperate on organising the 2013 Korea Travel Awards.

Vietnam Airlines Northern Regional Office Deputy Director Le Kim Anh said the two countries boast huge potential for lucrative tourism cooperation.

 

[Viet]

Mobius Can’t Buy Enough Vietnam Equities on Foreign Limits


By Bloomberg News - Nov 21, 2013 10:58 AM GMT+0100

Hoan Dinh Nam/AFP via Getty Images
Traffic in a newly developed residential quarter in Hanoi on May 7, 2013.


The rush of foreign investors into Vietnam’s most-favored companies has exhausted the government-limited supply of shares, freezing out some as inflation slows and the economy recovers from the weakest growth since 1999.

“It’s like a double-edged sword,” Mark Mobius, who oversees about $53 billion as the chairman of Templeton Emerging Markets Group, said in a Nov. 5 phone interview from Singapore. “On one hand, it’s difficult to get in. But once you’re invested, you could do quite well.”

“It’s like a double-edged sword,” Mark Mobius, who oversees about $53 billion as the chairman of Templeton Emerging Markets Group, said in a Nov. 5 phone interview from Singapore. “On one hand, it’s difficult to get in. But once you’re invested, you could do quite well.” Photographer: Jerome Favre/Bloomberg

Vietnam Dairy Products JSC, the nation’s largest milk producer, and DHG Pharmaceutical JSC, the biggest listed drugmaker, are among 20 companies with overseas ownership at the 49 percent limit, according to Ho Chi Minh City-based ACB Securities Co. Foreigners have bought a net $208.5 million of the nation’s shares in 2013, the eighth straight year of inflows, as the benchmark VN Index rose 22 percent.

Signs that Prime Minister Nguyen Tan Dung’s Communist government is relaxing its grip on the Southeast Asian economy have helped spur the fastest pace of stock purchases by foreigners since 2008. Templeton Emerging Markets Group and Dragon Capital Group Ltd. say they’ve been unable to buy as many shares as they want, while PXP Vietnam Asset Management predicts the $45 billion market will extend gains as limits for some companies get raised to 60 percent as soon as year-end.

“It’s like a double-edged sword,” Mark Mobius, who oversees about $53 billion as the chairman of Templeton Emerging Markets Group, said in a Nov. 5 phone interview from Singapore. “On one hand, it’s difficult to get in. But once you’re invested, you could do quite well.”

New Constitution

Exports jumped 13 percent in October, more than twice the pace in China, and pledged foreign direct investment surged 66 percent to $19.2 billion in the first 10 months of the year. The central bank has cut its refinancing rate eight times since the beginning of 2012 as inflation dropped to a 14-month low.

The government predicts economic growth will accelerate to 5.4 percent this year and 5.8 percent in 2014. Gross domestic product rose 5.25 percent in 2012, the slowest pace in 13 years, International Monetary Fund data show.

Vietnam’s Communist Party, which has ruled over the reunified country since 1976, is revising the constitution. A draft version dated Nov. 17 on the National Assembly’s website indirectly acknowledges the private sector while saying the state will maintain its “leading role” in the economy.

“There are a lot of positive things happening that are going to push the market higher over the next few years,” Patrick Mitchell, the head of institutional sales at VinaSecurities JSC, said in an e-mailed statement from Ho Chi Minh City on Nov. 19. “The charts on Vietnam are steadily moving upwards.”

Relative Value

The VN gauge slipped 0.4 percent to 503.54 at the close today, after earlier rising as much as 0.9 percent. The Vietnam measure has outperformed the MSCI Frontier Markets Index by 4 percentage points this year. Both indexes are valued at about 13 times reported earnings, according to data compiled by Bloomberg.

Vietnam’s finance ministry has submitted a plan to Dung for raising the foreign ownership cap. The proposal would allow overseas investors to increase holdings of voting shares in some industries to a maximum 60 percent from 49 percent, Nguyen Son, the head of market development at the State Securities Commission, said on Nov. 14. Foreigners would be able to buy as much as 100 percent of non-voting shares, Son said.

Market Catalyst

The Vietnam Securities Depository and the nation’s exchanges are responsible for tracking foreign ownership and enforcing the limits, said Giang Trung Kien, the head of research at FPT Securities Co. The current cap has been in place since 2009.

In China, the biggest emerging market, the ruling Communist Party unveiled its largest package of economic reforms since the 1990s this month. The nation will phase out investment caps for both domestic and foreign investors, People’s Bank of China Governor Zhou Xiaochuan wrote in a guidebook explaining the reforms. The Shanghai Composite Index climbed to an almost one-month high yesterday.

Higher foreign limits in Vietnam “would be a great catalyst for the market,” said Tran Thi Kim Cuong, the head of equities at Manulife Asset Management (Vietnam) Co. in Ho Chi Minh City, which oversees about $325 million. “The stocks which are at the full limit will be beneficiaries.”

Economic Outlook

Vietnam’s economic recovery faces headwinds from slowing growth in consumer spending and a banking system burdened by bad debt. Retail sales rose 12.6 percent in the first 10 months from a year earlier, the slowest pace since at least 2005, according to data compiled by Bloomberg. Fitch Ratings estimates about 15 percent of bank loans are delinquent, the highest level among six Southeast Asian countries it covers.

“Uncertainties are still there, such as high non-performing loans that need some time to tackle,” said Attila Vajda, the Ho Chi Minh City-based head of institutional sales at ACB Securities, Vietnam’s fourth-largest brokerage.

Policy makers set up an asset-management company to purchase soured loans from banks in July. VAMC, as the entity is known, has bought about 15 trillion dong ($711 million) of bad debt from 15 banks as of Nov. 10, according to a posting on government’s website. VAMC may purchase as much as 150 trillion dong by the end of 2014, central bank Governor Nguyen Van Binh said this month.

The Vietnamese companies favored most by foreign investors have continued to grow in the face of a slowdown in consumer spending. Vinamilk, as Vietnam Dairy Products is known, posted third-quarter profit growth of 21 percent.

Earnings Growth

The Ho Chi Minh City-based company, which started in 1976 and makes dairy products from powdered milk to cheese, will probably boost earnings by 15 percent next year and 16 percent in 2015, according to the average of four analysts’ estimates compiled by Bloomberg. Shares have jumped 60 percent this year and are trading at 17.5 times reported earnings, versus the average multiple of 29 for global peers tracked by Bloomberg.

Refrigeration Electrical Engineering Corp., one of the first two companies to trade on the Ho Chi Minh City Stock Exchange when it opened in 2000, has rallied 75 percent in 2013. Earnings this year are poised to top 1 trillion dong for the first time, exceeding the company’s 650 billion-dong forecast, General Director Nguyen Thi Mai Thanh said in an interview this month.

DHG Pharmaceutical’s profit growth will probably accelerate to 20 percent this year from 15 percent in 2012, according to the mean analyst estimate compiled by Bloomberg. The stock, which has rallied 49 percent this year, has been difficult to buy after foreign holdings climbed to the limit, said Le Anh Tuan, the Ho Chi Minh City-based chief economist at Dragon Capital, which oversees about $1.2 billion, including funds incorporated in the Cayman Islands.

Vietnam’s government may announce increased foreign ownership limits in the next two months, according to Kevin Snowball, whose PXP Vietnam Fund Ltd. has climbed 52 percent in dollar terms this year.

“Improved access is a very important step,” he said. It “will likely be a catalyst for a break out to multi-year highs toward the end of this year and into 2014.”


To contact Bloomberg News staff for this story: Nguyen Kieu Giang in Hanoi at giang1@bloomberg.net
To contact the editor responsible for this story: Michael Patterson at mpatterson10@bloomberg.net

 

[Viet]

10:35 | 21/11/2013
source: VIR

Fuji Xerox Co Ltd yesterday opened a factory manufacturing digital colour multifunction devices and small-sized LED printers in northern Hai Phong City, with a total investment capital of US$119 million.

09:58 | 19/11/2013
source: VIR

Taiwan’s largest industrial group Formosa is going to spend an additional $500 million to expand its textile and plastics production capacity in Vietnam, in anticipation of the zero-tariff treatment for exports after Vietnam joins Trans-Pacific Partnership agreement.

09:59 | 15/11/2013
source: VIR

First cocoa plant opens in Ben Tre
Puratos Grand-Place Viet Nam, which specialises in bakery, patisserie and chocolate, opened a cocoa collection and fermentation $1ml plant – the first of its kind in the country – in southern Ben Tre Province yesterday.

 

[Viet]

14:23 | 18/11/2013
source: VIR

Bridgestone to pump $1.2 billion into Vietnam
Japan’s Bridgestone Corporation, the world’s largest rubber and tyre manufacturer, last week received an investment certificate for doubling its total investment in Vietnam to $1.22 billion to meet rising global demand.

 

[MohitV]

no! just stop your pervert mentality and stop look at the Vietnam girl ok my India friend

but i just said that she is awesome

 

[yue10]

Vietnam feels free-trade downside By Anh Le Tran

With the implementation of the Vietnam-United States bilateral trade agreement and accession to the World Trade Organization (WTO), Vietnam's economy is now integrated into the global trading system. Trade in goods now represents over 150% of gross domestic product (GDP).

Between 2001 and 2008, Vietnam's exports of goods more than tripled, reaching nearly US$63 billion in 2008. The global recession pushed Vietnamese exports down to less than $57 billion last year, but they are forecast to bounce back this year as demand in the US and other key markets improves.

Even so, that is not easing concerns over Vietnam's rising trade deficit, which in 2008 reached 12.8% of GDP. While steady trade deficits are not necessarily bad, particularly when they entail import of growth-enhancing machinery and technology, Vietnam's case is problematic for several reasons.

Vietnam imports large quantities of raw materials and parts to fuel its export machine, notably the garment and footwear industries. This demonstrates that the country lacks essential supporting industries that would help it reap bigger economic benefits from exports and further the process of industrialization. Heavy reliance on imported inputs also makes it more vulnerable to external market forces, including fast fluctuating commodity prices.

Vietnam's rising trade deficits with China since 2001 are a particular cause for concern. In 2009, the deficit with China was greater than $11 billion, accounting for over 91% of Vietnam's overall trade deficit.

The challenge of Chinese imports, already threatening the development of homegrown industries, may increase as Vietnam engages in further trade liberalization through the Association of Southeast Asian Nations-China Free Trade Area, which will allow an even greater percentage of Chinese goods into its market duty free by 2015.

The trade deficit also reduces the scope for macroeconomic maneuvering. Last year, when key sources of foreign exchange inflows - including foreign direct investment (FDI) and overseas remittances - declined sharply, the government was forced to run down foreign exchange reserves to cover still high import bills. In an attempt to preserve dwindling reserves and rein in the trade deficit, the government engineered two currency devaluations - of 5.4% in November 2009 and 3.4% in February this year.

These interventions have failed to narrow the trade gap. For the first quarter of 2010, imports increased almost 38% in value while exports decreased 1.6% compared with the same period last year. The Economist Intelligence Unit forecasts that Vietnam will run a trade deficit of $13.3 billion this year, equivalent to around 13.4% of a forecast GDP of $99.3 billion.

The devaluations have complicated Vietnam's efforts to contain inflation. Expansionary monetary and fiscal policies, countercyclical measures taken at the height of the global economic downturn to boost growth and maintain employment, resulted in 5.3% GDP growth last year, but led to new inflationary pressures.

As the dong has weakened, the price of imported inputs and products has increased and driven inflation higher. The government has targeted an inflation rate of no greater than 7% for this year. Few analysts believe it can achieve this, in spite of some measures to curb price increases and plans to rein in previous expansionary policies.

The absence of easy solutions for curbing the trade deficit is rooted in the economy's main growth drivers. Vietnam's exports are still heavily concentrated in labor-intensive and commodity-based products. In general, these are relatively low value-added goods, making it difficult to boost overall export values in order to shrink the trade deficit.

Nor does the government have a readily apparent plan to build up supporting industries to foster the production of higher value-added goods. Efforts to promote some import-substituting products have not gained traction due to deep-seated economic inefficiencies and competitive pressure from low-cost producers in China.

Vietnam's increasingly affluent middle class also tends to prefer imported products over domestic ones when they can afford them. Thus strong demand for imported consumer goods has contributed to the country's stubbornly high trade deficit. Economists say the only way to close the import gap is faster restructuring of the economy in ways that improve competitiveness.

Deeper reform of the state-owned sector, which currently accounts for nearly 35% of GDP, would help. State-owned enterprises have wide range of privileges, such as favorable access to credit and subsidies, but are overall highly inefficient. Forcing state-owned enterprises to become more efficient and play by market rules would lift a significant drag on the economy.

Vietnamese economic policymakers also need to come up with a meaningful action plan to promote supporting industries in line with broader development needs. Japan has shown a willingness to help. With the implementation of the Vietnam-Japan Economic Partnership Agreement there will be opportunities to engage in joint production of high value-added products for export to the Japanese market.

Without a deeper commitment by the country's leaders to reform and restructuring, imports will continue to outpace exports and contribute to instability and risk in Vietnam's still transitional market economy.

hahaha free trade.....TPP

also look the Annam consumer did not even support their own country, what a pathetic race deserve nothing less economic imperialism

but i just said that she is awesome

too bad, keep your India eyeballs to yourself ok

 

[Viet]

hahaha free trade.....TPP

also look the Annam consumer did not even support their own country, what a pathetic race deserve nothing less economic imperialism


too bad, keep your India eyeballs to yourself ok

ha ha ha...you posted an old article from April 2010 to prove your point?

 

[visom]

There's something I'm always curious about. Whenever I watch the vietnamese channels on TV showing what Vietnamese do on their daily lives, it seems like a large number of people still do trade in the free market (like selling food on boats) where no tax is collected. Does that have a negative effect on the economy?

 

[yue10]

ha ha ha...you posted an old article from April 2010 to prove your point?

look this Annam race, what does the date have to with anything, did you suddenly achieve a trade surplus in last 3 years with Chinese, the point is in 2015 your dumbazz VCP open up to ASEAN-China and you are going to get fawked and still you want TPP, I think in international division of labour if you are happy for your country to be home of low value added cheap manufacturing slave of foreigner then good job

here another more recent article for you

Foreign-made goods overwhelm local markets

At most grocery stores, supermarkets, and trade centers in Ho Chi Minh City, foreign-made products outnumber domestic-made goods and remain more popular as supermarkets and trade centers continue to import them, even though these can be produced locally.

At M. Supermarket on 3 Thang 2 Street in District 10, many household goods, such as ladles, kettles, and electric mugs, have been imported from China, South Korea, and Japan. Even mops, towels, cradles, and makeup remover cotton pads are from foreign countries although in reality, local producers are capable of producing these same items.
Not only household goods, but foodstuffs also out price domestically made commodities. For instance, Thailand tamarind is priced around VND90,000 per kilo, and Thailand wafers are priced VND21,000 per three pieces, at M. supermarket.
Similarly, L. Supermarket on Le Dai Hanh Street in District 11 is also flooded with foreign-made toys and fresh food products. Local products merely account for a modest number. As for instant noodles, shelves are full of instant noodles imported from South Korea and Thailand. Of course, the price of instant noodles from South Korea is fairly higher, from VND20,000 to VND40,000 per pack, while price of other kinds of instant noodles is around VND10,000 per pack.
Bookstores cum mini-supermarkets, including M.K and T.N also display many kinds of pens, glasses imported from China and Thailand from VND200,000 to VND300,000 per item, depending on product and brand name.
Electronics supermarkets, such as N.K, P.K, and P.V, sell cases for mobile phones and laptop cooling pads from VND200,000 to VND2 million per item. Noticeably, all these products have Chinese and Taiwanese origin markings.
There are just a few supermarkets where Vietnamese products account for 80-90 percent of the total amount of goods. But supermarkets where foreign goods are sold are easy to find and it is out of question if these foreign products cannot be replaced by local-made ones.
In fact, many foreign products can be totally replaced by local products. It is said that xenophile of consumers and poor competitiveness of local producers have created favorable conditions for foreign products to crush the domestic market.

what a sick race, become more and more ridiculous everyday