[Round-up] U.S. Tops Vietnam’s Export Markets, Foreign Investors Bet on VietJet’s Growth

Tuan Minh

23:50 03/01/2017

BizLIVE - The U.S. continued topping the list of 200 countries and territories importing Vietnamese goods in 2016. VietJet Air is selling a combined 73 million shares, or a 24.36% stake, to as many as 26 foreign investors.

[Round-up] U.S. Tops Vietnam’s Export Markets, Foreign Investors Bet on VietJet’s Growth

Japanese Emperor Akihito and Empress Michiko are planning to make their first visit to Vietnam in early March.

Japanese Emperor, Empress Likely to Visit Vietnam in Early March
Japanese Emperor Akihito and Empress Michiko are planning to make their first visit to Vietnam in early March, Kyodo reported, citing a source close to the Imperial Household Agency.
The trip, that could last five days, is being arranged as the imperial couple has often received invitations from Vietnamese leaders when they have visited Japan, the source said.
U.S. Tops Vietnam’s Export Markets
The U.S. continued topping the list of 200 countries and territories importing Vietnamese goods in 2016, with a total import value of over $34.8 billion, according to government statistics.
It was followed by China, Japan and South Korea, with respective values of $19.6 billion, $13.2 billion and $10.4 billion. The four markets made up nearly 49% of Vietnam’s total export last year.
Millions of Vietnamese Workers Need Retraining to Compete with Robots
Nearly five million workers in the textile, electronics and retail sectors will be affected by the technology movement, according to a survey by the Chamber of Commerce and Industry of Vietnam (VCCI) on labor market trends.
This is one of the major downsides of the technological revolution that has for many years also greatly benefited people and economies, the Tin Tuc (News) reported.
HCM City Targets 50,000 New Firms in 2017
Ho Chi Minh City hopes to incorporate 50,000 new companies in 2017 so that there are 500,000 operational ones by 2020, Chairman of the municipal People’s Committee Nguyen Thanh Phong has said.
The city aims to achieve 19 socio-economic targets in 2017, especially economic growth of 8.4% – 8.7%, according to the Vietnam News Agency (VNA).
Tan Son Nhat Airport Must be Expanded: Deputy PM
The capacity of Tan Son Nhat International Airport will double as many projects to expand it and ease traffic congestion have been announced, a high ranking official said.
“Tan Son Nhat airport needs to be upgraded to handle between 40 and 50 million passengers each year,” Deputy Prime Minister Trinh Dinh Dung stressed at a meeting between the government and local administrations last week.
FDI in HCM City IZs Expected to Hit $500 Million in 2017
Industrial zones in Ho Chi Minh City hope to attract investments worth $500 million in 2017, according to the HCM City Export Processing and Industrial Zones Authority (HEPZA), VNA reported.
Exports by companies situated in industrial zones (IZs) and export processing zones (EPZs) are expected to top $6 billion this year, Tran Cong Khanh, head of the HEPZA office, told a recent press meeting.
Vietnam Airlines Shares Jump 40% on Debut Day
Shares of Vietnam Airlines surged 40% on its first trading day on the UPCoM on Tuesday, valuing the firm at $2.11 billion, as investors sought exposure to the country's flagship carrier amid strong growth in regional air travel.
The shares hit 39,200 Vietnam dong ($1.73) at the close, compared to their opening price of 28,000 dong, data from the secondary exchange showed. There were bids for 1.3 million HVN shares, while just 700 shares were bought.
VIB to Trade 564.4 Million Shares on UPCoM
Vietnam International Joint Stock Bank (VIB) will trade 564.4 million shares on the Unlisted Public Company Market (UPCoM) on January 9, the Hanoi Stock Exchange announced.
The bank’s shares will be traded with code VIB at a starting price of 17,000 dong ($0.75) apiece, making the bank’s capitalization 9.6 trillion dong ($423 million).
Here’s a look back at Vietnam’s economic performance in 2016 and the previous years.
The market capitalization of stock exchange-listed companies in Vietnam reached a combined 1,640 trillion dong ($72 billion) at the end of 2016, rising 26.6% from a year earlier and equivalent to 36.4% of GDP.
Low-cost carrier VietJet Air is selling a combined 73 million shares, or a 24.36% stake, to as many as 26 foreign investors after the airline raised its registered capital by 50% to three trillion dong ($132.2 million) last month, local media reported.
Of the amount, VietJet transferred 6.57 million shares in mid-December 2016 to British Virgin Island-incorporated Wareham Group Limited, Cayman Island-incorporated Dragon Capital Markets Limited and Ireland’s DC Developing Markets Strategies Public Company, according to the Dau Tu (Investment) newspaper.
The Nikkei Vietnam Manufacturing Purchasing Managers' Index, or PMI, slipped to 52.4 in December from an 18-month high of 54.0 in November, but marked strengthening in manufacturing operating conditions for the 13th month in a row.
Thanks to higher new orders, manufacturing output rose for the twelfth time in the past 13 months during December, albeit at a weaker pace than in the previous month. Consequently, manufacturers increased staffing levels for the ninth successive month.

TUAN MINH

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