Vietnam 

Central region told to develop tourism as key economic sector – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News THỪA THIÊN-HUẾ — The Central and Central Highlands Region has been told to work harder to make tourism a key economic sector of the whole region. Speaking at a conference seeking solutions for the development of regional tourism, Prime Minister Nguyễn Xuân Phúc urged 19 provinces in this region to work harder for a common plan to boost the growth of tourism. “Tourism [in the region] has seen a slow pace of progresses in both service type and service quality. Operations of the sector…

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Vietnam 

Vietnamese market best in the region: Deputy PM – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Deputy Prime Minister Vương Đình Huệ. — Photo zing.vn HÀ NỘI — The Vietnamese stock market was Southeast Asia’s most successful market in 2018 in terms of capital mobilisation, said Deputy Prime Minister Vương Đình Huệ. In a New Year meeting held on Sunday, Huệ was quoted by online news outlet zing.vn as saying that the speeding up of the equitisation process has helped Viet Nam’s IPO market lead Southeast Asia in terms of value. “With…

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Vietnam 

More funding needed for Southern Key Economic Region – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — The Southern Key Economic Zone needs special policies to attract foreign direct investment (FDI) and improve linkages between localities to ensure sustainable development, experts have said. The Southern Key Economic Region includes HCM City and the provinces of Bình Phước, Tây Ninh, Bình Dương, Đồng Nai, Bà Rịa-Vũng Tàu, Long An and Tiền Giang.  The region accounts for only 8 per cent of the country’s area but plays a leading role in its economic development as it makes up 60 per…

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Vietnam 

VN to keep outperforming region: Fitch Solutions – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HÀ NỘI — Việt Nam’s economy expanded by 7.1 per cent in 2018, but its increasing openness and reliance on foreign investment suggest it is unlikely to be spared from the global growth slowdown arising from rising trade protectionism and tighter financial conditions. This conclusion was included in the economic analysis released by Fitch Solutions Macro Research on Wednesday. According to Fitch, Việt Nam’s real gross domestic product (GDP) grew by 7.3 per cent year-on-year in the fourth quarter of 2018, up from 6.8…

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Hong Kong and Singapore’s corporate governance lead in region narrowed by dual-class shareholding IPOs, say experts

Hong Kong and Singapore maintained their high ranks in a report on corporate governance published on Wednesday, but a decision to allow listings by dual-class shareholding companies has eroded their edge over other jurisdictions in the region. The report was presented by brokerage CLSA and non-profit organisation Asia Corporate Governance Association. The association ranked Hong Kong second in the region, with a score of 60 in its biennial survey, followed by 59 for Singapore in third position. CLSA, on the other hand, ranked Singapore second with 70.1 points, Japan third…

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Vietnam 

Asia Pacific is world’s fastest aging region – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — The Asia-Pacific is the fastest aging region of the world with over 200 million people expected to move into the ranks of the elderly (aged 65 years and above) between now and 2030, according to the Asia Pacific Risk Centre. “With rapidly aging populations posing unprecedented social and economic challenges in the region, we believe that consumers should be educated on the need to start taking active steps towards healthy aging through improving nutrition and physical activity,” said Stephen Conchie, senior vice president and…

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Toys ‘R’ Us Asia aims to expand in the region after divorce from American parent

Toys ‘R’ Us Asia plans to expand its presence in the region, mainly in China and Japan, after divorcing itself from its US parent company which filed for bankruptcy last year. At a press conference in Hong Kong, Andre Javes, president of Toys ‘R’ Us Asia Pacific, repeatedly stressed that the Asian business is now completely separate from the troubled US entity, Toys ‘R’ Us Inc, and that its shareholders are focused on developing the market in the region. He outlined expansion plans at the event on Monday, which included…

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China, the fastest growing region for the outlet mall sector

Designer outlet operators, which previously focused on the US and Europe, are now casting their eyes further eastwards to Asia, most notably to China. The global expansion of outlet malls presents significant investment opportunities as they have proved to be relatively immune to cyclical economic and real estate market swings, as compared to other core real estate sectors which have more pronounced market cycles. But what are outlet malls and what makes them so special? Typically, they are single-storey, village-style retail centres, selling goods at a 30 to 70 per…

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Vietnam 

More FDI projects to locate to southern region – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY   —  More foreign-invested enterprises are expected to relocate or open in the Southern Focal Economic Zone in the last quarter of 2018. Ajinomoto Việt Nam, which has been in the country for 27 years, has two manufacturing plants at the Biên Hoà Industrial Park No.1 and Long Thành Industrial Park, both in Đồng Nai Province. With five supply centres and 2,400 employees across the country, the company supplies local customers with spices, food products, beverages and biological fertilisers. The company has…

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Vietnam 

Southern region hits target for rice harvest – Economy – Vietnam News | Politics, Business, Economy, Society, Life, Sports

Viet Nam News HCM CITY — The southern region estimates that it will produce more than 26 million tonnes of paddy this year, up 1.1 million tonnes against last year, meeting its target for the year. The region, the country’s rice granary, has planted more than 4.4 million hectares of rice this year, down by 63,500ha against last year, according to the Ministry of Agriculture and Rural Development’s (MARD) Plant Cultivation Department. However, the yield has been 5.95 tonnes per hectare a crop, up 338 kilogrammes against…

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