Vietnam Morning News For March 19

Vietnam’s Vietjet signs $609 million credit MoU with Investec Bank
Vietjet Aviation Jsc on Friday said it signed a memorandum of understanding worth $609 million with Investec Bank PLC to finance the purchase of five Airbus A321 aircraft, as the budget airline is seeking to expand in the region.
— Tuoi Tre

PetroVietnam sells 5% interest at offshore block to US Murphy Oil
Vietnam’s PetroVietnam Exploration Production Corp., or PVEP, has signed an agreement to sell a 5 percent working interest in an oil block offshore Vietnam to U.S.-based Murphy Oil Corp., the Vietnamese company said.
— Deal Street Asia

E-commerce grows but taxes hard to collect
Experts have recommended amending e-commerce regulations that would allow authorities to better manage and collect tax as well as develop the sector.
— Bizhub

Automobile supporting industries remain underdeveloped
The Vietnamese supporting industry is still underdeveloped, causing domestic automobile manufacturing and assembling enterprises having to mainly import spare parts, experts said.
— The Hanoi Times

Abundant credit supply for real estate projects
Although real estate developers can raise funds in many ways, credit from commercial lenders is still the largest source of capital in Vietnam. Bank credit has indeed helped revive the real estate sector in recent years and this trend is expected to continue in the upcoming future.
— VietnamNet Bridge

State Treasury mobilises nearly US$1.5bn from G-bonds
The State Treasury of Viet Nam has so far successfully mobilised VND34 trillion (US$1.49 billion) via Government bond (G-bond) auctions.
— Bizhub

PM welcomes Australian firms to Vietnam
Prime Minister Nguy?n Xuân Phúc applauded business ties between Vi?t Nam and Australia, as 18 memorandums of bilateral investment were exchanged on Friday during his official visit to Australia.
— Viet Nam News

Dragon Capital ramps up stake in Vietnamese brewer Sabeco for $144m
Dragon Capital, a Vietnam-focused group of investment funds, has purchased 15.3 million shares of Saigon Beer Alcohol and Beverage Corp (Sabeco) from Singapore-based Nogard Pte. Ltd, according to Vietnam Securities Depository (VSD).
— Deal Street Asia

Vĩnh Long to get 14 industrial hubs
The Mekong Delta province of Vĩnh Long plans to develop nine industrial clusters with a total area of 492.5 ha from now to 2020, and another five industrial clusters with a combined area of 165.49 ha during 2020-30.
— Viet Nam News

Vietnam Footwear Summit to discuss new growth models
New trend and growth models in the footwear industry will be the main topic of discussions at the Vietnam Footwear Summit 2018 in Ho Chi Minh City from March 21-22.
— Vietnam Plus

Vietnamese farmers expect higher profits with CPTPP trade agreement
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) is expected to help Vietnam boost exports of seafood and farm produce.
— VietNamNet Bridge

SCIC seeks approval for Vinamilk’s ESOP plan
The State Capital Investment Corporation (SCIC) has asked for the Prime Minister’s approval of Vinamilk’s plan for an Employee Stock Ownership Programme (ESOP) in the 2018-21 period.
— Bizhub

Singaporean businesses interested in food industry, agriculture in Vietnam
Many Singaporean firms are interested in investing in the food industry, agriculture, and dining services in Vietnam as they forecast that these sectors will thrive in the near future amidst broader ASEAN integration.
— Vietnam Plus

Vietnam and India strengthen defence ties on state visit
AS CHINA rises, Vietnam is mapping out a strategy to partner with India in an effort to protect freedom of navigation and unimpeded trade in the Indo-Pacific region.
— The Nation

Feature photo Graeme Newcomb

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