Vietnamnet.vn
Podcast
Banks told not to raise ATM cash withdrawal fees
The State Bank of Viet Nam (SBV) on Tuesday directed commercial banks not to increase ATM fees after some commercial banks announced plans to hike fees from the middle of this month.
The move comes after Vietinbank, Vietcombank, BIDV and Agribank announced they would increase service fees for ATM cash withdrawals from VND1,100 to VND1,650 for each transaction from July 15.
This is the second time the SBV has thwarted plans to raise fees in the past two months. On May 9, banks were instructed to cancel their plans for fee hikes after a public backlash.
If the plan has been approved nearly 49 million ATM card holders would have been affected as the four banks currently account for 63 per cent of the country’s total ATM market share.
According to an SBV representative, the bank has framework for ATM cash withdrawal fees and commercial banks are required to follow it.
The central bank’s Circular 35, which came out in 2012, allows banks to start collecting ATM fees from March 2013. A maximum fee of VND3,300 for each transaction has been permitted since 2015, but most banks have kept their fees at VND1,100.
However, the representative said that the adjustments do not violate regulations, but noting that banks should seek consensus from customers and ensure the interests of customers and banks.
ESMO starts construction of the first wiring harness facility in Viet Nam
ESMO Group from South Korea (formerly NEXEN TECH) has just started construction of ESMO VINA - its first wiring harness factory in Viet Nam.
With total investment of VND700 billion (US$30.4 million), this facility, located in Gia Phu Industrial Zone, the northern province of Ninh Binh, is expected to create about 2,000 jobs.
The ceremony on Sunday was attended by South Korean Ambassador Kim Do-hyun, General Director of ESMO Korea Kim Cheong-hoon and General Director of Global Land (ESMO) in Viet Nam Lee Jong-wook.
Its key product line is Wiring Harness - the company’s flagship product with a production volume of about 450,000 products per year - used in large and small buses as well as Battery Module Harness (battery module system) and electric vehicle charger cables.
Based on manufacturing experience and using high-quality local and international engineers, ESMO Group is expected to boost growth for Ninh Binh Province and Viet Nam.
Phu Bai int’l airport to have new passenger terminal
The Airports Corporation of Viet Nam (ACV) will source about VND1.7 trillion (US$74.1 million) from its development capital to build the T2 passenger terminal at Phu Bai International Airport in the central coastal province of Thua Thien-Hue.
The corporation and the provincial People’s Committee agreed on a plan to implement the project as part of the national transport development scheme.
The terminal will be built to serve five million passengers per year, including one million foreign visitors.
The project is set to be completed by December 2020, after 18 months of construction.
To ensure the progress of the project, the ACV asked Thua Thien-Hue Province to help clear land. The deadline to hand over land to start the construction of the terminal and supporting facilities is the second quarter of 2019.
Chairman of the provincial People’s Committee Phan Ngoc Tho said the province will focus on clearing land in Phu Bai, Thuy Tan and Thuy Phu communes in Huong Thuy Town to expand the airport.
Phu Bai Airport strives to welcome 3-3.5 million passengers by 2020 and some 6.5-7 million passengers by 2025.
The airport is now able to serve 1.5 million passengers per year and is often overloaded.
In 2017, the airport received 1.75 million passengers. The annual average passenger growth rate is 15 per cent.
Manufacturing, processing drive economic growth in H1
The country’s industrial sector posted high growth of 9.28 per cent in the first half of the year, surpassing the rates of 7.01 per cent and 5.42 per cent reached during the same periods in 2016 and 2017.
During a conference held in Ha Noi on Monday, the Ministry of Industry and Trade said the manufacturing and processing industry had posted growth of 13.02 per cent – the highest increase in the past seven years.
Duong Duy Hung, director of the ministry’s Planning Department, said the Vietnamese economy had continued to enjoy growth in the second quarter of 2018 following impressive results in the first three months of this year
The index of industrial production (IIP) rose by 10.5 per cent from the corresponding period last year.”Notably, the main momentum for Viet Nam’s economic growth in the first half of the year came from improvements to the business environment, increased local consumption and the manufacturing and processing industry,” he added.
Some key industrial products saw high growth in the January-June period, including steel (up 43.7 per cent), woven fabrics of synthetic or manmade fibers (up 22.1 per cent), refined sugar (up 18.9 per cent) and liquified petroleum gas (up 18.5 per cent).
“The mineral sector saw favourable conditions as the prices of crude oil and some minerals were on the rise together with increasing consumption,” he said, adding that most companies in the sector had completed their targets for the first half of the year, creating momentum for the rest of 2018.
The relatively low economic growth rate during the first half of 2017 was also a factor contributing to a perception of this year’s high growth rate, he stated.
The Viet Nam Steel Association said the output of crude steel, rolled steel, steel bars and corner steel had increased by 43.7 per cent, 5.3 per cent and 16 per cent respectively. The sector expected high growth of 20 per cent this year.
The director said the growth was due to the stable local economy while many infrastructure, construction and real estate projects had been implemented in 2018. Minister Tran Tuan Anh said the country should focus on improving the business environment to maintain high industrial growth.
The Government should also continue to simplify administrative procedures and enhance online public services.
“The industry and trade sector will also take measures to resolve delayed projects and loss-making firms. The ministry is working to resolve these shortcomings by the end of this year to create resources for the development of the industrial sector,” Anh said.
Viet Nam’s economy is now deeply integrated with the world, so it is naturally affected by changes to the global economy, according to Anh. The country’s economic growth has enjoyed the benefits of the global recovery in terms of trade and trade pacts.
However, Phan Van Chinh, director of the Import-export Department, pointed out several challenges facing the country, such as policy changes from several of Viet Nam’s main importers, including the US, higher inflation pressure, and complicated weather conditions.
Minister Anh said that given the fact that trade conflicts were growing, with technical and trade production barriers rising, ministries and sectors should work together to tackle future problems. Although Viet Nam had signed a multiple free trade agreements and bilateral trade agreements, technical barriers and administrative procedures were still an issue, making it difficult to approach export markets, he said.
He stressed the need to study markets thoroughly in order to balance interests and spot weaknesses in cooperation mechanisms intended to facilitate the export of products. To achieve the targets set for 2018, the minister emphasised the need to improve the business and investment environment and speed up the restructuring of the industry and trade sector. Firms should also keep a close watch on market developments, Anh stated, pointing out that import-export activities were normally at their busiest in the second half of the year.
In addition, the Comprehensive and Progressive Agreement for Trans-Pacific Partnership and the EU-Viet Nam FTA, expected to become effective in 2018, had helped Viet Nam attract more foreign investors, helping to increase production capacity.
The ministry would intensify measures to remove barriers and create favourable conditions for exports, especially agricultural products and seafood, he added.
SMEs urged to take advantage of FTA opportunities
Vietnamese businesses have not yet taken full advantage of the potential to create high added value with low cost in the production chain, said Deputy Regional Managing Director of the US-ASEAN Business Council in Viet Nam, Vu Tu Thanh.
Thanh spoke at a workshop held in the Mekong Delta city of Can Tho, which focused on trade facilitation and promoting small and medium enterprises (SMEs) to join the global value chain.
The workshop was attended by more than 240 leaders and senior officials from the Ministry of Industry and Trade, General Department of Customs and small and medium enterprises (SMEs) nationwide.
The workshop aimed to implement the Memorandum of Understanding (MoU) signed between the US-ASEAN Business Council and the Vietnam Chamber of Commerce and Industry (VCCI), providing SMEs with the information and skills to participate in the global value chain effectively.
The participants discussed the role of Free Trade Agreements (FTAs) and customs reforms in facilitating trade in Viet Nam, trade facilitation clauses in the Law on Foreign Trade Management, the importance of logistics services and the application of technology in trade promotion.
Thanh said that although Viet Nam was considered by many international organisations as having high potential in terms of investment, only 21 per cent of SMEs in the country were involved in global supply chains.
“This figure is very low compared to the average of 46 per cent among ASEAN countries,” said Thanh.
The linkage among enterprises is not tight. Thus, SMEs in Viet Nam are less likely to benefit from the spillover effect of FDI enterprises through technology transfer, knowledge and productivity improvement,” he added.
According to Director of the Vietnam Chamber of Commerce and Industry office in Can Tho, Vo Hung Dung, another difficulty in joining the global value chain for SMEs is that they have low finance and weak technology, meanwhile access to capital and trade finance is still limited due to their insufficient financial resources to participate in the global supply chain.
They also lack skilled labourers to participate in high-added value areas such as processing, distribution (retail) and marketing.
At the workshop, many participants agreed that to overcome these challenges, the Government should step up the reform of institutions and improve the business investment environment, creating a breakthrough in the development of business and the economy. Enterprises should actively seek market information, potential industries and international standards, on which they can set up long-term development plans.
In addition, businesses must promote links to take advantage of each enterprise, enhancing the ability to supply and implement contracts of great value and gradually occupy the market. They must also actively co-operate with banks, investment funds and training institutions to raise capital, improve the quality of human resources and upgrade technology.
Truong Quang Hoai Nam, Deputy Chairman of Can Tho People’s Committee, said that as a dynamic economic centre in the South West region, Can Tho City would be a pioneer in production and export of hi-tech, value added and new products.
“We will attach importance to supporting and encouraging enterprises to renew their technologies and equipment, and improve their product models and designs so as to meet the demands of the market,” said Nam.
In addition, he said the city would promote trade promotion activities to expand the market and simplify the export procedures for businesses, helping them reduce production costs and lower prices.
"Achieving these goals will not only drive SMEs in the Mekong Delta to effectively participate in the global supply chain, but also help the region become a destination for big global investors, thereby creating motivation for other localities across the country,” said Nam. — VNS
Viet Nam’s economy maintained impressive growth in the second quarter this year, but risks are becoming more apparent, especially threats on the exchange rate and interest rate.
The statement was made by Nguyen Duc Thanh, director of Viet Nam Institute for Economic and Policy Research (VEPR) at a conference held in Ha Noi on Wednesday.
“The impact of the US-China trade war has made the value of the Chinese yuan (CNY), fall sharply against the US dollar. Viet Nam cannot refrain from adjusting its exchange rate, thus creating a risk for the enterprises,” Thanh told Viet Nam News.
Vietnamese inflation is starting to increase slightly; therefore, the State Bank of Viet Nam (SBV) needs to control inflation to not exceed five per cent.
With many large central banks tightening currency, together with the risk of high inflation in the near term, the SBV may raise interest rates for the dong to stabilise the exchange rate, Thanh added.
Such findings from a macroeconomic report released yesterday by VEPR showed that the economy in Q2 saw growth rate of 6.79 per cent year-on-year, the highest in ten years.
According to VEPR’s report, the agriculture, forestry, fishery and service sectors continued to improve sharply. The industry and construction sector also grew at a high rate of 9.07 per cent in the first half of the year.
Manufacturing continued to drive the economy, while the mining industry fell back to decline, reflecting the seasonal characteristic of the positive growth in Q1.
Inflation surged in Q2, reaching 4.67 per cent at the end of June, due to rising food and fuel prices. Meanwhile, core inflation remained at 1.37 per cent, reflecting the SBV’s prudent monetary policy.
Trade growth slowed in the second quarter of this year; meanwhile trade balance recorded a surplus in the fourth consecutive quarter and reached US$1.4 billion in Q2. Notably, China regained its position as the country with the highest trade deficit among Viet Nam’s trading partners.
One noteworthy point in the VEPR study was that the number of temporarily ceased enterprises was abnormally high, while the number of new jobs declined.
Speaking at the report announcement, economist Pham Chi Lan raised concerns about the decrease in employment rate due to the remarkable rise of shuttered firms. In other countries such as the US, Europe or Japan, the employment rate was always a top priority, however, unemployment in Viet Nam had not received sufficient concern from authorities, Lan said.
VEPR’s statistics also showed that Viet Nam’s budget balance returned to a deficit in Q2, after a temporary surplus in Q1. Recurrent expenditures continued to be higher than 70 per cent of total expenditures, while development investment expenditures had not improved much.
In the second quarter, the country’s total retail sales of goods and services increased in value but declined in volume over the same period last year, reflecting a recovery trend in prices in 2018.
The report said that investment growth in the private sector was strongest in all economic sectors. Meanwhile, newly registered foreign direct investment capital in Q2 reached a record level. Japan was the top investor in Viet Nam in the first six months of 2018.
The liquidity of the system was abundant due to the higher deposit growth than credit growth, coupled with foreign currency purchases by the SBV. Foreign exchange reserves continued to rise, reaching $63.5 billion at the end of Q2, the same level as the International Monetary Fund’s recommendation.
Another notable point from the report was that the real estate market in Q2 declined in both Ha Noi and HCM City, both in new apartments for sale and transactions.
Economist Pham The Anh attributed the gloomy real estate sector to some factors such as the slow growth of the economy, instabilities in exchange rate, consumer price index and the tension between the US and China.
“The potential risk of an increase in interest rates in the near future could also push the real estate market down,” he told Viet Nam News.
VEPR’s report forecast that this year’s GDP growth target might clock in at 6.8 per cent, higher than the 6.5 to 6.7 per cent goal set by the National Assembly, as it forecast economic growth rates for the upcoming quarters to reach 6.65 and 6.55 per cent, respectively.
The Viet Nam Annual Economic Report, published by VEPR, is a series of annual reports summarising major economic issues in the previous year, giving an outlook for the coming year and providing policy recommendations.
The quarterly report was completed by the VEPR with support from the Konrad Adenauer Stiftung.
Kien Giang set to increase exports
Kien Giang Province will focus on improving exports by increasing product quality, and holding more promotion and networking events for Vietnamese firms, according to the provincial Department of Industry and Trade.
Within the first six months of the year, provincial exports totalled US$269 million, which was more than 51 per cent of the year’s target and 45 per cent higher than the same period last year.
Agricultural products alone accounted for $117 million, while seafood totalled $81.5 million.
The biggest export earners were rice and frozen and processed seafood.
Rice, which is exported to 11 countries and territories, saw a 34 per cent increase in output and 51.6 per cent increase in value compared to the same period last year.
Several Kien Giang businesses said they would export canned seafood to the US, and pineapples and fish sauce to South Korea.
The province said that it would also focus on improving the quality of exports and help firms build more sources of high-quality raw materials.
The province is developing brackish-water shrimp farming under international standards for exports, in addition to increasing the farming area for high-value rice.
Kien Giang targets reaching an annual $1 billion of export value by 2020.
BSR changes to joint stock model
Binh Son Refining and Petrochemical Company Limited (BSR) in the central province of Quang Ngai has officially been operating as a joint stock company since July 1, 2018.
This change follows the directive of Prime Minister Nguyen Xuan Phuc in accelerating the equitisation process of State-owned enterprises (SOE) during the 2016-20 period.
Through the transforming into a joint stock company, BSR hopes to seek foreign strategic investors to help the company develop petrochemicals business, as well as increase its product quality and competitiveness.
The company’s legal representative is Tran Ngoc Nguyen, the general director of the firm.
Binh Son Refining and Petrochemical Joint Stock Company is responsible for receiving, managing and operating Dung Quat Oil Refinery Plant. After nine years of operation, Dung Quat Oil Refinery has generated about US$38 billion in revenue and contributed nearly $7 billion to the State budget.
In the first six months of 2018, BSR produced 3.56 million tonnes of products, consuming nearly 3.6 million tonnes of finished products, fulfilling 57 per cent of the yearly plan. The firm’s revenue and after-tax profits are estimated at nearly VND55.36 trillion ($2.4 billion) and VND2.95 trillion, equivalent to 69.7 per cent and 84.7 per cent of the plan set for the whole of 2018, respectively.
The company also contributed approximately VND5.81 trillion to the State budget in the first half of 2018.
On December 8, 2017, the Prime Minister signed the Decision No 1978 / QD-TTg approving the equitisation plan of BSR.
On January 17, 2018, BSR successfully held the first public auction of shares at the HCM City Stock Exchange (HOSE), with a total of 241,556,969 shares (equivalent to 7.79 per cent of BSR), earning the State budget about VND5.5 trillion. The average price was VND23,043 per share. It marked Viet Nam’s largest IPO this year, valuing the company at $2 billion.
VIB records positive business results in H1
Vietnam International Bank (VIB) yesterday released its unaudited financial statements for the first half of this year with positive business results in key indicators.
During the period, VIB’s net revenue increased by 56 per cent year-on-year to VND2.7 trillion (US$118.5 million) while its operating expense reached nearly VND1.32 trillion, up 16 per cent year-on-year. That resulted in the bank’s strong rise in pre-tax profit at 216 per cent, hitting VND1.51 trillion.
Moreover, thanks to the continuous improvement of credit quality, the bank’s credit loss provision was maintained at a low level of VND234 billion.
According to the results, lending and deposits of VIB topped VND91.7 trillion and VND83.2 trillion in the first six months, up 8.94 per cent and 7.1 per cent, respectively.
In the period, the bank also successfully managed other financial adequacy ratios such as ratio of short-term deposits used for long-term loans at 40.7 per cent compared with permitted maximum limit of 45 per cent by the State Bank of Viet Nam (SBV); loan-to-deposit ratio at 75.7 per cent compared with SBV’s permitted maximum limit of 80 per cent. The bank’s non-performing loan ratio was 2.3 per cent.
The most important contribution to VIB’s growth and profitability came from its retail banking business, which gained a year-on-year revenue rise of 100 per cent in the first half, the bank said in a statement.
“As accumulated personal lending is growing rapidly, VIB currently ranks among the biggest retail banks in the market,” the bank said.
The bank expects its pre-tax profit to reach over VND2.5 trillion by the end of the year, 25 per cent higher than the target set by its shareholders.
In addition to its achievements in the banking sector, VIB has continued to carry out different corporate social responsibility activities in promoting education and healthcare. In June, about 100 disadvantaged children born with cleft lips or cleft palates in the north were given free surgeries under the medical charity mission run by VIB and Operation Smile Vietnam (OSV).
Earlier in 2017, VIB also coordinated with OSV to provide medical consultations and free surgeries for nearly 200 children with cleft lips, cleft palates and phonetics training for nearly 400 families of patients across the country.
More Vietnamese consumers are preferring cashless and contactless payments to make the process faster, according to Visa.
The number of contactless transactions has been growing at 44 per cent per month since July last year. The total value of purchases made using Visa contactless cards increased by 43 per cent a month in the same period.
Sean Preston, Visa’s country manager for Viet Nam, Cambodia and Laos, said: “Vietnamese consumers, retailers and financial institutions are embracing the concept of going cashless. We’re seeing very positive growth in the usage of Visa contactless payments as more consumers understand the benefits of speed, security and convenience that contactless payments can bring to their everyday purchases.”
According to the Visa Consumer Payment Attitudes Report, which polled 4,000 consumers in Indonesia, Malaysia, Myanmar, the Philippines, Singapore, Thailand, and Viet Nam in July 2017, more than half of consumers in Viet Nam were aware of contactless payments.
Around 30 per cent have used contactless payments and two thirds are interested in trying it.
Fashion and beauty products are the main items purchased using contactless payments.
Contactless technology is shifting the in-store payment landscape, opening up space for consumer-centric innovation. Contactless payment provides a safer and more convenient purchasing experience for customers and a more effective solution for issuers’ sales and customer satisfaction, and improves checkout productivity for merchants.
DHG Pharma lifts foreign ownership limit to 100 per cent
Hau Giang Pharmaceutical Joint Stock Company, DHG Pharma, has completed the procedures to lift the foreign ownership cap from its current rate of 49 per cent to 100 per cent, effectively abolishing the cap altogether.
In a document sent to the State Securities Commission and the HCM Stock Exchange on Wednesday, the company said the lifting of the cap is in accordance with the Ministry of Finance’s Circular 123/2015/TT-BTC, dated August 18, 2015, providing guidance on foreign investment activities in Viet Nam’s securities market.
The foreign ownership limit for DHG shares has been officially adjusted up to 100 per cent from July 4, 2018.
After the company’s information was disclosed, it said it had received requests for buying DHG Pharma shares from Japan’s Taisho Pharmaceutical Co Ltd.
Taisho currently holds 32,606,096 shares with voting rights, which is equivalent to 24.94 per cent of the charter capital of DHG Pharma. This deal was made in 2016.
Taisho plans to buy 9,232,647 additional DHG shares with voting rights, or 7.06 per cent, bringing its total to 41,838,743 shares, accounting for 32 per cent of DHG Pharma’s charter capital.
The proposed offer price is VND120,000 (US$5.15) per share. At this price, Taisho is expected to pay more than VND1.1 trillion in cash for this transaction.
The purchase must be completed within 30-60 days after receiving written approval from the State Securities Commission on the offer.
Taisho is currently the second-largest sharesholder of DHG Pharma, just behind the State Capital Investment Corporation (SCIC) which holds 43.31 per cent of charter capital. It is one of the pharmaceutical companies with the largest market share of over-the-counter medicines in Japan.
DHG Pharma plans to earn net revenue of more than VND4 trillion in 2018, equivalent to the 2017 result. However, it expects to raise pre-tax profit by 6.7 per cent to VND768 billion.
SSI continues its lead in brokerage market share
Saigon Securities Incorporation (SSI) remained the largest broker in Viet Nam in the second quarter of 2018, accounting for 23.08 percent of the brokerage market share, according to the HCM City Stock Exchange (HoSE).
In the first half of the year, the company also took the lead with 20.9 per cent of the market share, outpacing the brokers in the second and third positions with 11.7 per cent and 9.5 per cent, respectively.
The remainder of the year is likely to be the fourth consecutive year SSI has topped the list.
The company said that it would open two branches in the second half of the year, raising the number of its transaction offices to 14.
SSI has set a target of pre-tax profits of VND1.615 trillion (US$70.8 million) on VND3.41 trillion in revenue this year, year-on-year increases of 12 per cent and 15 per cent, respectively.
Last year it was selected by Forbes Vietnam as the only securities company among Viet Nam’s 40 Most Valuable Brands, with its brand valued at $26.5 million.
Fluxr and Tencent announce mobile game streaming in VN
LiveMe, North America's social networking app has announced the launch of a new mobile gaming and eSports live streaming mobile platform, called Fluxr, for gamers in Việt Nam.
Dedicated to enhancing the gamer experience in Southeast Asia with innovative user-interactive features, Fluxr aims to deliver high quality live streams, rich gaming content and an interactive and immersive gaming community. On the platform, users can watch live streaming of popular games, such as PUBG MOBILE, Fortnite, Rules of Survival, Arena of Valor, League of Legends, Minecraft, CSGO, GTA5, DOTA2, Call of Duty, Clash Royale and many more.
The app has been rapidly growing on the global stage with a footprint in over 120 countries and has seen outstanding results in the Southeast Asian markets. According to a study conducted by Frost & Sullivan, Southeast Asia is the fastest growing region for mobile games in the world, with revenues projected to exceed US$7 billion by 2019. In Việt Nam alone, revenues are projected to hit $208 million by 2022.
“Southeast Asia poses untapped and limitless market potential in the mobile games and professional eSports market. And the support from the local governments towards this area has been beyond our expectations,” said Yuki He, Chief Executive Officer of LiveMe Inc.
In line with the new launch, Fluxr has also announced its partnership with Tencent’s PUBG MOBILE to kickstart its broadcaster and eSports recruitment campaign at VidCon, the world’s largest online video convention in North America. The popular annual gaming event featured top broadcasters from LiveMe Gaming and PUBG MOBILE cosplayers, attracting more than 30,000 people.
Viet Nam is a key market for Nokia phones and it plans to expand in the market, HMD Global, which owns the Nokia brand, said.
As part of this strategy, it has recently launched two new phones, Nokia 2.1 and Nokia 3.1.
The Nokia 2.1 combines a 5.5-inch HD screen and dual front-front facing speakers with a 4,000mAh battery that will last two days.
It runs on Android Oreo.
The phone will be available in three colours: blue-copper, blue-silver and grey-silver.
It will be sold from the beginning of August, but the price has not been revealed yet.
The Nokia 3.1 runs on Android One and is endorsed by Google.
It has an octa-core MediaTek 6750 chipset and features an upgraded 13MP auto-focus rear camera.
Priced at VND3.39 million (US$148) onwards, it is the most affordable 18:9 smartphone.
Kyler Tan, country general director, HMD Global Vietnam, said: “Nokia 3 has been an extremely successful part of the Nokia smartphone line-up in Viet Nam. With so many people enjoying it every day, we’ve had a tremendous amount of positive feedback and a real motivation to refine our fans’ experience even further. We’ve made sure Nokia 3.1 delivers the perfect balance between power and design so our customers do not need to compromise.”
The phone comes in blue-copper, black-chrome and white-iron, and two storage/RAM options. The 2GB/16GB version is priced at VND3.39 million ($148) and the 3GB/32GB version at VND3.99 million ($175).
Viber Community, chat space for 1b users, launched
Messaging application Viber on Wednesday launched Viber Community in Viet Nam, offering a chat space where up to 1 billion users can exchange messages and all kinds of content.
According to the company, group chats on apps now restrict the number to hundreds or thousands of users at most.
The new service was unveiled in March 2018 at the Mobile World Congress, and has since been rolled out around the globe.
Anubhav Nayyar, Viber’s head of business development for Southeast Asia, said: “Viet Nam is a very special market for us. As soon as the country jumped into the global digital revolution, Viber almost instantly became the main chat app for Vietnamese. After a gradual global rollout we are excited to bring Viber Communities to Viet Nam.”
New community members have access to the complete history of a community and can contribute to the conversation with all of Viber’s messaging features.
Superadmins control community member roles with the ability to add members and promote them to admin or super admin status, ban or block members, decide whether or not they can participate in conversations, and if they can invite new members.
Superadmins can grow the community and make it publicly available by enabling a share link or revoke the link at any time.
Nayyar said: “At Viber, we believe in a world where people can connect with one another, wherever and whoever they are. Viber communities achieve just that as they have the potential to bring millions of users to share and connect through common passions and interests.
“They are also places where community owners can easily grow and eventually monetise their communities, empowering them with a formidable opportunity to create valuable conversations worldwide.”
The first communities to be launched will be on beauty, pets and football.
16,500 Mazda car sold in Viet Nam in half 2018
Truong Hai Automobile Joint-Stock company (Thaco) has sold 16,500 Mazda cars in Viet Nam in the first six months of the year, marking it as the second best-selling Japanese car brand in Viet Nam, according to the Viet Nam Automobile Manufacture Association.
Thaco said about 100,000 Mazda cars has been delivered to customers in Viet Nam market since the brand was locally manufactured in 2011.
Thaco, in co-operation with Japan’s Mazda Motor Corporation, has introduced 44 showrooms, of which 33 are international standard, nationwide.
Earlier this year, Thaco and Mazda put a new plant for auto exports into operation in the Chu Lai-Truong Hai Industrial Complex in Quang Nam Province, at a total investment of US$380 million.
The new Mazda plant is expected to produce 100,000 Mazda cars per year with a localisation ratio (local made spare parts and accessories) of 44 per cent.
The Japanese car maker is also boosting links with Thaco in the production of spare parts and accessories.
Mazda has introduced several car models in Viet Nam market including the CUV (Crossover Utility Vehicle) CX-5, pick-up BT50, Mazda3, Mazda2 and Mazda 6.
Thaco has invested $400 million in constructing a logistics centre, car production factories, a vocational training college, a seaport, storage facilities and shipping services.
It sold 112,000 trucks, vans and commercial cars for revenue of $2.8 billion in 2017.
The local automobile producer currently manufactures and distributes Korea’s Kia model, Japan’s Mazda and France’s Peugeot and BMW.
EVN to withdraw capital from Thuan Binh Wind Power JSC in Q3
The Electricity of Vietnam (EVN) plans to withdraw capital from the Thuan Binh Wind Power JSC in the third quarter of 2018.
Thuan Binh Wind Power JSC’s activities include investment in construction of renewable energy projects such as wind power, solar power and waste-to-power, and provision of consultation services for renewable energy projects.
Currently, EVN will continue processing the equitisation of EVN Power Generation Corporations 1 and 2.
At the same time, the firm will strive to complete the withdrawal of capital in the EVN finance company (EVNFinance), while continue with divestment from the Dong Anh Electrical Equipment Corporation, the Power Engineering Consulting JSCs 3 and 4 after the Ministry of Industry and Trade approves divestment plans.
EVN also revealed that the group has so far finished its divestment from the Thu Duc Electro Mechanical Joint Stock Company (EMC), and launched initial public offering on the Power Generation Corporation 3. It is preparing to hold first meeting of shareholders soon.
EVN sold over 58 billion kWh of electricity in the first four months of 2018, representing a year-on-year rise of 10.59 percent.
Domestic commercial power output rose by 10.51 percent in the four-month period, according to EVN.
In April alone, the corporation sold over 16 billion kWh of electricity, up 10.34 percent against the same month last year.
Electricity losses in January-April were estimated at 6.81 percent, 0.39 percentage points lower than the set target of 7.2 percent.
EVN produced and bought 67 billion kWh of power in four months, a year-on-year rise of 11.08 percent, including 18.03 billion kWh in April.
Power transmission in April was estimated at 15.3 billion kWh, and the figure for the four months was 56.4 billion kWh, up 10.8 percent over the same period last year.
Vietnamese company secures mechanical installation deal in Brunei
Vietnam’s Lilama Corporation has signed a contract to manufacture and install mechanical equipment for a fertiliser plant in Brunei.
The signing marked the first overseas project of Lilama that covers a complete course of material, equipment and human resources supply.
The 23-hectare A/U fertiliser plant is located at the Sungai Liang Industrial Park, 100 km away from Bandar Seri Begawan, the capital of Brunei.
Under the freshly signed contract, Lilama will carry out about 80 percent of the plant’s mechanical workload, which might increase during its working course of 23 months starting December this year.
Director General of Lilama Corporation Le Van Tuan said the project has strict requirements on quality, progress, and labour safety.
He revealed that during intensive periods of the project, Lilama might need to deploy up to 1,200 workers.
Lao Cai boosts farm produce trade with China’s Yunnan
A conference was organised in the northern border province of Lao Cai on July 13 to seek ways to promote the import-export of farm produce, fruits, and aquatic products between Lao Cai and China’s Yunnan province.
The conference aimed at helping Vietnamese localities and firms update information on the Chinese market and customs policies for these products at a pair of international border crossings in Lao Cai and Hekou in China.
Vu Ba Phu, Director of the Department of Trade Promotion under the Ministry of Industry and Trade, said Vietnam holds substantial potential in its agro-aquatic products and fruits, supplying the demand of both domestic and international markets, including China.
Lao Cai, located at the centre of the North-South Corridor in the Greater Mekong region, connects Vietnam with Yunnan province and the southwest region of China.
In the first six months of 2018, the value of import-export via Lao Cai exceeded 1.55 billion USD, up 29 percent year-on-year. Of the sum, the export of fruits and agro-aquatic products brought in more than 306 million USD.
Huang Shan, of Yunnan’s Department of Commerce, attributed the high growth of Yunnan-Vietnam trade to the signing of an agreement on border trade development that is based on mutual benefit and support.
According to her, Yunnan mostly imports Vietnamese fruits and seafood, while Vietnam has high demand for Yunnan’s vegetables and fruits.
She informed participants of the conference on Yunnan’s import policies targeting Vietnamese farm produce, fruits, and aquatic products.
To boost trade between Yunnan and Vietnamese localities, Huang proposed both sides speed up customs clearance and reduce administration fees to cut logistic costs.
She suggested Vietnam work to expand its share in the seafood market of China’s southwest and northwest regions.
Le Ngoc Hung, Vice Chairman of the Lao Cai People’s Committee, stressed the province’s commitment to helping enterprises handle bottlenecks and improve the local business climate.
At the conference, 12 provincial Departments of Industry and Trade of Vietnam signed a memorandum of understanding with Yunnan’s Department of Commerce on trade development cooperation in a bid to capitalise on the potential of the Kunming (Yunnan)-Lao Cai-Hanoi-Hai Phong-Quang Ninh economic corridor.
.svg){kind=icon}
