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Vietnam’s meat producer’s 9-month profit surges 2,300% on pork shortage

Hanoi-based meat producer Dabaco reported nine-month consolidated after-tax profit at VND1,137 billion ($49 million), up 2,300 percent from a year earlier.

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AppotaPay joins e-wallet race in Vietnam

AppotaPay has got a license from the State Bank of Vietnam to become the 39th payment intermediary service provider in the country.

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Vietnam’s 10-month foreign investment drops nearly 20% to $23.4bln

Vietnam attracted $23.4 billion FDI during the first ten months of the year, down 19.4 percent from a year ago on pandemic, according to data from Ministry of Planning and Investment.

News

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Vietnam-China agro product trade hits over $9.8 billion in nine months

The agro product trade value between Vietnam and China reached over $9.8 billion in the first nine months of 2020, said the Agro Processing and Market Development Authority .

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Nine-month remittances to Ho Chi Minh City rises 2% to $4bln despite pandemic

Vietnam’s largest city received $4 billion remittances during the first nine months of the year, up two percent despite the severe impacts from the global public health crisis.

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Exxon, Japan's JERA to build LNG-to-power project in Vietnam

Exxon Mobil and Japan's biggest power generator, JERA, have agreed to build a power station and import facilities for LNG to fuel it in Haiphong, the companies said on Wednesday.

Economy

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Industrial production expands 2.7 pct. in Jan-Oct period amid virus fears

Industrial production posted a year-on-year expansion of 2.7 percent in the first ten months this year despite the impacts of Covid-19 pandemic, the General Statistics Office reported Thursday.

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Vietnam’s trade surplus widens to $18.72bln in ten months

Trade surplus in the first ten months of the year has widened to $18.72 billion, with October surplus estimated at $2.2 billion, according to latest data from the General Statistics Office.

Companies

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Vinhomes’ Q3 revenues more than double to $1.14 billion

Real estate developer Vinhomes reported third quarter revenues rose 2.4 times year-on-year to VND26.5 trillion ($1.14 billion) thanks to sales of thousands of units in three housing projects.

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Vietnam’s meat producer’s 9-month profit surges 2,300% on pork shortage

Hanoi-based meat producer Dabaco reported nine-month consolidated after-tax profit at VND1,137 billion ($49 million), up 2,300 percent from a year earlier.

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Techcombank’s bad debt falls sharply to 0.6% despite pandemic

Vietnamese biggest private lender Techcombank said its bad debt fell sharply by 55 percent to 0.6 percent from 1.33 percent, bank said in a recent earning statement.

Market

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Vietnam’s stocks erase 2020 losses amid optimism over economy, Bloomberg

Vietnam’s stocks rallied the most in seven weeks on Friday, helping the benchmark gauge erase its year-to-date losses.

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Main stock exchange to list two new bank stocks

VIB has received approval for listing on the Ho Chi Minh Stock Exchange, the second lender to list this year after LienVietPost Bank.

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SCIC to sell entire stake in cooking oil giant Vocarimex

The State Capital Investment Corporation (SCIC) has announced to sell its entire 36.3 percent stake, or 44.2 million shares, in the Vietnam Vegetable Oils Industry Corporation, according to the Hanoi Stock Exchange.

Real Estate

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Ben Thanh-Suoi Tien Metro Line to start test run end-2020

The Ben Thanh-Suoi Tien Metro Line aims to start trial operations in Long Binh Depot end of this year, when the first three carriages were transported to the depot on weekend.

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Realty market embraces digital technology

More and more realty firms are using digital platforms to sell their products, driven by the Government's encouragement to develop local digital technology firms amid the COVID-19 pandemic.

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Office market in Ho Chi Minh City and Hanoi grows despite pandemic

Prices of office rent in Ho Chi Minh City and Hanoi increased following by high demand for office despite the impacts from Covid-19 pandemic, Colliers International Vietnam said in a report.

Life & Art

World

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South Korea's largest trade event to take cues from consumer electronics show

Korea MICE Expo, South Korea's largest trade show for meeting professionals and incentive planners will kick off on 24 November over four days via a hybrid format.

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Ant Group closes $17.2 billion Hong Kong IPO book early amid strong demand

Ant Group will close its Hong Kong institutional book building one day early as it aims to raise about $17.2 billion in the city, sources with direct knowledge of the matter said.

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Huawei’s 9-month revenue grows 9.9% despite trade war, pandemic

Chinese tech giant Huawei's year-on-year revenue growth rate in the third quarter slowed to 9.9 percent as the US government's intensified crackdown on the company crippled its supply chain.