[Round-up] Firms Upbeat about Q4 Performance, Central Group Encouraged to Invest More in Vietnam

Tuan Minh

09:15 04/10/2016

BizLIVE - Enterprises, especially foreign-invested and state-owned ones, expect better business performance in the last quarter of this year. The Vietnamese government has encouraged Thailand’s Central Group to invest in product distribution, retail and wholesale trade in Vietnam.

[Round-up] Firms Upbeat about Q4 Performance, Central Group Encouraged to Invest More in Vietnam

The Vietnamese government has encouraged Thailand’s Central Group to invest in product distribution, retail and wholesale trade in Vietnam.

Vietnam President Asks Businesses in HCM City for Larger Efforts
President Tran Dai Quang has asked the business community in Ho Chi Minh City to take a pioneering role in the development of domestic private economic sector, especially small-and medium-sized enterprises, according to the Vietnam News Agency (VNA).
He also asked local businesses to promote the city’s advantages to develop the economy in the southeastern and southwestern regions while supporting, nurturing and implementing new business initiatives.
Vietnam DPM Encourages Central Group to Increase Presence
Vietnamese Deputy Prime Minister Vuong Dinh Hue has expressed hope that Thailand’s Central Group will continue to invest in product distribution, retail and wholesale trade in Vietnam, according to VNA.
At a reception for Central Group General Director in Vietnam Jariya Chirathivat in Hanoi on October 3, the official called on the group to introduce the world’s quality goods, especially those from ASEAN, to Vietnamese consumers.
Cabinet Meeting Mulls SCIC’s Divestment of Stake in Flagship Firms
PM Nguyen Xuan Phuc has emphasised the need to publicly choose qualified consultant firms in order to prevent state capital losses caused by wrong stake valuations while selling State Capital Investment Corporation (SCIC)’s shares in major companies, according to VNA.
He gave the instruction after hearing Minister of Finance Dinh Tien Dung’s report on the SCIC’s sale of its shares in enterprises listed in the stock market or those in the unlisted public company market (UPCOM) during the regular cabinet meeting on October 3.
Most Companies Confident of Better Performance in Q4
Enterprises, especially foreign-invested and state-owned ones, expect better business performance in Q4, according to the General Statistics Office (GSO).
Up to 85.6% of the surveyed companies believe that their production and business situation will remain stable or improve in the last quarter of 2016. Among them, 48.8% expect improvement while another 36.8% hope for continued stability.
Vietnam-India Trade Hits $3.47 Billion in Jan-Aug
Two-way trade between Vietnam and India reached $3.47 billion in the first eight months of this year, up 1.23% year-on-year, according to the Ministry of Industry and Trade’s Vietnam Trade Office in India.
Of the figure, Vietnam exported $1.76 billion and imported $1.7 billion worth of goods, up 7.4% and down 4.4%, respectively.
Australia to Import Fresh Vietnamese Dragon Fruit
The Vietnamese Ministry of Agriculture and Rural Development announced that Australia has completed a draft assessment on fresh Vietnamese dragon fruit, paving the way for the fruit to be imported to that market next year.
Australia plans to certify and allow the fruit to enter its market in early 2017. If it receives certification, Vietnam will be the first and only country to export dragon fruit to Australia.
HCM City Speeds up Low-Income Housing Investment
The HCM City Department of Construction plans to speed up the granting of investment licenses for social housing projects and redress administrative procedures to provide housing to low-income residents.
Social housing is built to accommodate the poor, near-poor, state staff, and people who have been recognized as making a great contribution to the country’s revolutions, VNA reported.
PropertyGuru Buys Vietnam’s Batdongsan.com.vn
Singapore-based PropertyGuru has invested an undisclosed amount in Vietnam’s largest real estate information platform Batdongsan.com.vn. This folllows its buyouts of realty portals ePropertyTrack and RumahDijual.
Japanese investor Cyberagent Ventures exited Dai Viet Group, the parent firm of Batdongsan.com.vn, through the transaction.
Hanoi-based conglomerate Geleximco and Hong Kong United Investors Holding (HUI) have asked for the Ministry of Transport’s permission to invest in four large-scale infrastructure projects in Vietnam, which is thirsty for funding to bolster its slowing economy.
The consortium is interested in four projects namely two sections of the North-South expressway, an expressway that spans three economic hubs of the northern province of Quang Ninh, the North-South high-speed railway, and the Long Thanh International Airport in southern Vietnam.
On the occasion of a three-day visit to Vietnam of the Swedish Trade Delegation, Swedish Minister of Trade Ann Linde expressed her wish to further boost trade between Sweden and Vietnam as well as Southeast Asia.  
The following article shows her thoughts about Vietnam and outlines the perspective of the future trade relations between Sweden and the Southeast Asian country.
Vietnam’s gross domestic product (GDP) is likely to grow 5.9% this year, driven by solid growth of the manufacturing sector, said IHS Markit, a global provider of information, analytics and expertise, in a report jointly elaborated with Nikkei released Monday.
The country’s Manufacturing Purchasing Managers’ Index (PMI), which measures its manufacturing performance, improved to 52.9 in September, marking the strongest rise over the past 16 months, driven by both output and new orders.

TUAN MINH