business

Techcombank’s board of directors answered questions at the pre-listing conference on May 23 (Source: VNA) Hanoi (VNA) – The Vietnam Technological and Commercial Joint Stock Bank (Techcombank) will begin selling its 1.1 billion shares coded TCB on the Ho Chi Minh City Stock Exchange (HOSE) on June 4 with a starting price of 128,000 VND (5.62 USD) per share. At the price, the bank is valued at 149 trillion VND (6.5 billion USD), making it Vietnam’s second-biggest listed bank after State-owned Vietcombank at 192 trillion VND (8.4 billion USD). Techcombank’s capitalisation is even higher than that of the BIDV and Vietinbank, whose charter capital is three times higher in comparison. Last month, Techcombank raised 922 million USD in one of the country’s biggest initial public offerings (IPO). Singapore wealth fund GIC, Fidelity Management and Research, and Dragon Capital are among the funds coming in as cornerstone investors. Techcombank also planned to … [Read more...] about Techcombank shares to be listed on HOSE on June 4

A sourcing fair to link Vietnamese supporting industries with FDI and other manufacturing firms held recently by the HCM City Department of Industry and Trade (Photo: VNA) HCM City (VNA) – Ho Chi Minh City is enacting policies to aid businesses in the supporting industry by encouraging investment, networking between firms and banks, and creating special zones. The municipal People’s Committee has approved 15 investment projects related to the mechanical, plastic and food industries, with total investment of 938 billion VND (41.3 million USD), 581 billion VND of which would be supported by the government in the form of paid interest on loans, according to the municipal Department of Industry and Trade. A city multi-disciplinary team has also appraised nine projects, at a total of 943 billion VND (41.5 million USD). Two of them have been approved by the city. The HCM City Export Processing and Industrial Zones Authority (HEPZA) is working with related authorities to form … [Read more...] about HCM City boosts development of supporting industry

A meeting of the  supervision group on May 23 (Source: http://hanoi.gov.vn)   Hanoi (VNA) - The supervision group of the Hanoi People’s Council has asked the municipal Department of Natural Resources and Environment to work with the city’s authorities in order to reclaim long-delayed projects which violate the current Land Law. The department has been urged to publicise projects which violate the law in the mass media, and to refuse to hand over any new projects to violating investors. The projects in question were financed by extra-budgetary resources. According to the department, 161 projects have been found to have violations, it was proposed that they be investigated, and punishments be handed out accordingly. During a working session on May 22, the supervision group pointed out the department’s shortcomings in the management of these projects. The department has been slow in consulting with city’s authorities to address these … [Read more...] about Hanoi People’s Council proposes revoking long-delayed projects

Each three-coloured mango weighs between 450g and 700g on average, with the largest ones reaching nearly two kilos. (Photo vnexpress)   Hanoi (VNA) - The Mekong Delta province of An Giang has exported 5.4 tonnes of three-coloured mangos to Australia for the first time. The mango skin changes from green to reddish purple and then yellow when it ripens, so locals have named it the "mango of three colours." With seeds being imported from Taiwan, this mango variety has become increasingly popular in the Mekong Delta region over the years due to its large size, pretty colours and pleasant taste. The trees grow well, flowering easily and bearing fruit 18 months after being planted. Each mango weighs between 450g and 700g on average, with the largest ones reaching nearly two kilos. Deputy Director of An Giang Department of Agriculture and Rural Development Nguyen Si Lam said the province had cooperated with the Chanh Thu Im-export Company in the Mekong Delta province of Ben Tre … [Read more...] about Vietnam exports three-coloured mangos to Australia

Many Vietnamese SMEs lack long-term strategies to build their brands. (Photo: vnreview.vn) Hanoi (VNA) - Vietnamese businesses lack a proper strategy to build brands, a survey by British brand consultant Mibrand has found. An online survey last month of 200 small and medium-sized firms in Hanoi and HCM City in many sectors like IT, finance and banking, retail, insurance, healthcare, and dining services found most of them building their brands by themselves but without having the tools for it. Among the biggest problems Vietnamese firms face when building brands are the lack of an instruction toolkit and standard methods to assess outcomes, Phung Thai Duong of Mibrand said. Some companies do hire a professional agency or consultancy to help with the branding, but face challenges like high fees, the outside experts not having a thorough understanding of the company’s situation, and inability to evaluate the outcomes since they are not provided the tools for it, he said. … [Read more...] about Vietnam firms lack brand building strategy: survey