U.S. Grains Council Working to End Vietnam Suspension of Distillers' Grain Imports
The U.S. Grains Council is working with Vietnamese importers of distillers' dried grains with solubles (DDGS) to end the country’s planned suspension of U.S. shipments of the protein-rich animal feed, according to a letter sent to council members and seen by Reuters last week.
The move came after Vietnam said it would suspend all imports of U.S. DDGS from mid-December due to contamination with the Ballion variety of beetle.
Bangkok Bank Eyes 15% Loan Growth in Vietnam
Vietnamese branches of Bangkok Bank (BBL) are maintaining their aggressive loan growth target of 15% this year in the face of intense competition, according to Bangkok Post.
The bank's Hanoi branch has already achieved its full-year loan growth target but the Ho Chi Minh City
branch is still behind, said Tharabodee Serng-Adichaiwit, senior vice-president and general manager of BBL's Vietnamese operations.
Cambodia PM Visits Vietnam for Summits
Cambodian Prime Minister Hun Sen and senior government officials are due to fly to Hanoi Tuesday for a busy two days of international summits and conferences involving regional leaders.
According to a press release from the Foreign Ministry, the Cambodian delegation will attend the eighth Cambodia-Laos-Myanmar-Vietnam (CLMV) Summit, seventh Ayayawady-Chao Phraya-Mekong Economic Cooperation Strategy (ACMECS) Summit and the 2016 World Economic Forum Mekong Conference.
Vietnamese Shrimp Exports See Uptick in Q3
Vietnamese shrimp exports maintained growth in the third quarter of 2016, thanks to stable demand from major markets such as the U.S., EU, China, and South Korea, said the Vietnam Association of Seafood Exporters and Producers (Vasep
Global shrimp prices also saw a tendency to rise amid a decline in overall shrimp supply, Vasep added.
Peugeot Returns to Vietnam with High-end Scooters
French automaker Peugeot has said it will make a comeback to Vietnam's motorbike market with scooters having prices between 50 million dong and 80 million dong ($2,230-3,580) each.
Various models of the company were popular in Vietnam in the 1950-70s, but now Peugeot is a newbie in the market, which consumes around three million motorcycles a year made by the likes of Honda, Yamaha and Piaggio.
HCM City to Launch $45-Million Fund to Aid Startups
Ho Chi Minh City will launch a fund worth one trillion dong ($45 million) next month to support startups, part of a plan to aid 2,000 projects in the coming five years.
The fund will be opened for projects from a wide range of sectors which include mechanics, electronics, chemicals, food production, finance, banking, insurance, commerce, transport, tourism, logistics, post and communication, real estate, healthcare, education and technology.
U.S. Publishes Anti-dumping Duty Review on Vietnam’s OCTG
The U.S. Department of Commerce (DOC) last week announced the preliminary results of the administrative review of the anti-dumping duty imposed on some of Vietnam’s oil country tubular goods (OCTG), according to the Vietnam News Agency.
The review was conducted at the request of Vietnam’s SEAH Steel VINA Corporation (SSV) on OCTG for the period from February 25, 2014, to August 31, 2015. OCTGs are essentially tubes that are used in oil and gas production.
India Unlikely to Impose Anti-dumping Duty on Vietnamese Batteries
The Directorate General of Anti-dumping and Allied Duties (DGAD) under the Indian Ministry of Commerce and Industry has recommended not to impose anti-dumping duty on AA dry cell batteries imported from China and Vietnam.
The Vietnam Competition Authority cited the DGAD’s announcement on the final findings of its probe on batteries imported from the two countries as saying that imposition of the duty on the imports “is not required”.
South Korea’s top retailer will launch an online shopping website in Vietnam this week in a move to capitalize on the rapidly-growing e-commerce market in the country, VnExpress reported.
The website will offer all items on display at Lotte’s physical stores, with clothes and cosmetics expected to play a big role.
The online Fast Moving Consumer Goods (FMCG) market in Vietnam has enjoyed double-digit growth in recent years from a small base and this trend is expected to continue, said Fabrice Carrasso, managing director of Kantar Worldpanel Vietnam, Indonesia and the Philippines.
According to Kantar Worldpanel’s “Future of E-commerce in FMCG” study, e-commerce in Vietnam has grown 33% in the 12 month through June 2016, while the FMCG market posted growth of 4.4% in four key cities, which are Hanoi, Da Nang, Ho Chi Minh City and Can Tho.
Vietnamese state-owned groups and corporations reported a total of 1,547.86 trillion dong ($69.3 billion) in liabilities in 2015, up 1% from 2014, resulting in an average debt-to-equity ratio of 1.23 times, according to a government report.
The Vietnamese government will experimentally allow ailing banks to file bankruptcy in a move to speed up the reshuffle of the local banking system while protecting depositors’ interests, said Deputy Prime Minister Vuong Dinh Hue.
Vinamilk, Vietnam’s largest dairy producer, has said its pre-tax profit in the first nine months of this year soared 27.57% year-on-year to 9.03 trillion dong ($404.5 million), according to a filing sent to the Ho Chi Minh Stock Exchange.
The company, formally known as Vietnam Dairy Products JSC, reported total revenue of 35.13 trillion dong ($1.57 billion) in the three-quarter period, representing a 17.6% increase from a year earlier.