Economy

The auction aimed to sell VND 5 trillion (USD 215 million) worth of G-bonds with 5-year, 7-year, 10-year, 15-year and 20-year maturity. Additional VND 4.2 trillion (USD 180.6 million) is mobilized from auctioning off Government bonds at the Hanoi Stock Exchange (HNX) this week. Photo: baodautu.vn Bonds with 10-year maturity raised VND 1.8 trillion (USD 77.4 million) with an annual interest rate of 4.75 percent, 0.04 percent higher than the previous auction on September 12. A sub-session sale of the 10-year bonds drew VND 600 billion (USD 25.8 million) with a yield of 4.75 percent per year. Six bidders bought VND 1.2 trillion (USD 51.6 million) worth of 15-year bonds with an annual yield rate of 5.02 percent, up 0.05 percent from that of the September 12 auction. Some VND 600 billion (USD 25.8 million) was mobilized from the sub-session, with an interest rate of 5.02 percent. There were no successful bids for 5-year and 7-year bonds. So far this year, the State … [Read more...] about VND 4.2 trillion mobilized from G-bonds

With its 40 years of formation and development, CUCKOO is presently seen as Korea’s number one electronics home appliance brand. Realizing Vietnam’s potential, the company has taken the initial steps in expectation of winning customer trust by securing a foothold in the Vietnamese market. Apart from promoting the sale of their products, CUCKOO’s official agents will launch a whole raft of attractive shopping activities as well as offer  comprehensive after-sales services. The establishment of a legal entity in Vietnam will help ensure smooth and systematic operation of its agents. CUCKOO plans to introduce a wide range of electronics products such as high-grade rice cookers, water and air purifiers, and electric cookers. In order to meet local customers’ growing shopping demand, the company is also about to kick off an “Easy on” program to provide its new members with instructions on how to to use its high-grade products which are available at … [Read more...] about Korean brand CUCKOO hits Vietnamese shelves

Hotels face serious labor shortage Half a year ago, N, the CEO of a four-star hotel in Khanh Hoa province, drew up a plan to resign from his post and return to Ho Chi Minh City for family reunion. But the plan failed.  The owner of the hotel asked him to stay and continue to work as CEO for three more years, though he said he was old enough to retire. “At my age, working for money is no longer my priority. But I still decided to stay there because the hotel’s owner said he cannot find any other person to replace me,” he said, adding that he had just received an invitation to work as a CEO for a 5-star hotel in Phu Quoc. The hotel market is hot with more and more hotels arising, especially in Phu Quoc and Nha Trang. … [Read more...] about Hotels face serious labor shortage

The Hanoitimes - Favorable stock market and positive economic growth have helped large banks to step up divestment from other peers to meet the central bank’s regulation on holding shares at other credit institutions. After success in divesting all stake holding in Orient Commercial Bank (OCB) recently, Vietcombank will put 53.4 million shares of Military Bank (MB) up for auction on October 12, aiming to reduce its ownership ratio in MB from the current 6.97 percent to 4.5 percent, equal to 97.1 million shares. Vietcombank will divest part of its holding in Military Bank next month Offloading holdings at MB is one of Vietcombank’s moves to comply with the central bank’s regulation, which allows commercial banks to hold shares in a maximum of two other credit institutions, with the stake in each not exceeding 5 percent. The central bank requires unqualified banks to bring their ownership thresholds in other credit institutions to below 5 percent before June … [Read more...] about Vietnam’s large banks to end cross-ownership soon

The Hanoitimes - Stabilizing macro-economic conditions and creating favorable environments for enterprises development are some key recommendations to achieve the one-million enterprise target. Taking into account the number of enterprises recorded in January 2017 of 517,900, the target of having one million enterprises by 2020 is challenging but still feasible, stated Pham Dinh Thuy, director of the Industrial Statistics Department under the General Statistics Office (GSO).   Illustrative photo. Excluding the number of enterprises suspended operation at around 12,000 per year, Vietnam would need an average of 120,000 newly established enterprises in the 2018 - 2020 period to achieve the target, said Thuy in a GSO meeting on September 19. "This would bring the total number of enterprises to 130,000 per year," Thuy stated.  However, only 110,000 enterprises were established in 2016 and 126,900 a year later. If such growth rate does not change, Vietnam is unlikely … [Read more...] about Vietnam’s one million enterprise goal by 2020 challenging but feasible