Japan Firms Prioritize Vietnam in Overseas Business Strategy
Japanese firms pay special attention to and consider the Vietnamese market a top priority in their overseas business strategy, particularly those operating in automobile and electronic spare parts, optical glasses and food processing.
Governor of Saitama prefecture Ueda Kiyoshi made the statement at a meeting with Vietnamese Prime Minister Nguyen Tan Dung in Hanoi on Monday.
Foreign Tourist Arrivals to Vietnam Slide 4.1% y/y to 6.34 Million in Jan-Oct
Vietnam welcomed an estimated 6.34 million international tourists in the first ten months of this year, slipping 4.1% year-on-year, data of the General Statistics Office showed.
The number of U.S. travelers rose 7.9% year-on-year in the period to 403,900, marking the ninth month of growth as 2015 marked the 20th year of the normalization of the U.S.-Vietnamese diplomatic relations.
Vingroup Buys out Maximark Supermarket Chain
Vingroup has wholly acquired the supermarket chain Maximark of Ho Chi Minh City-based An Phong Investment Joint Stock Company, part of the group’s plan to increase its presence in the retail sector.
With this acquisition, Vingroup will own nine Maximark outlets and other properties which previously belonged to An Phong Company.
Real Estate Tops Industries with FDI in Ho Chi Minh City
The real estate sector in Ho Chi Minh City has attracted $1.43 billion worth of foreign direct investment in the year to October 15, accounting for 58.9% of total FDI in the city.
The HCM City granted a license to 456 new FDI projects with a combined capital of $2.43 billion in the period, of which 58.9% belonged to the realty industry.
Vietnam Fiscal Deficit Widens to $7 Billion as of Oct 15
Vietnam has run an estimated state budget deficit of 157.9 trillion dong ($7.02 billion) in the year to October 15, or 69.87% of the year’s estimation, widening from 136 trillion dong ($6.04 billion) a month earlier.
Vietnam Public Debt Stays High, Says Finance Ministry
Vietnam’s public debt will be 63.2% of gross domestic product at the end of 2016, still below the 65%-of-GDP limit, said Deputy Finance Minister Do Hoang Anh Tuan at a press meeting on Monday.
Vietnam to Collect $2.5 Billion from Personal Income Tax in 2015
The Vietnamese Finance Ministry expects to collect 55 trillion dong ($2.5 billion dong) from personal income tax this year, nearly 60 trillion dong in revenues from crude oil.
Eximbank to Step out of Sacombank
Vietnam Export Import Commercial Bank or Eximbank has withdrawn its representatives at Saigon Thuong Tin Commercial Bank or Sacombank, marking the first step to divest from latter.
Eximbank will unload a 6.4% stake in Sacombank to partners when the central bank approves a plan to be submitted soon, an Eximbank executive told local media.
Vietnam Banks Disburse 41% of Home Loan Package
Banks in Vietnam have granted loans worth 12.29 trillion dong ($546.22 million) or 41% of a $1.4 billion home credit package as of September 30.