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Coca-Cola to invest $ 300 million more in Vietnam


New Infrastructure, Jobs, Partnerships, Brand Building, Sustainability Programs Underline Vietnam Commitment

Oct 26, 2012. The Coca-Cola Company today announced a new system investment of US$300 million over the next three years in Vietnam to further capture growth opportunities in one of the world’s major emerging consumer markets. The stepped-up investment, commencing in 2013, will bring to US$500 million the total investment that The Coca-Cola Company and its bottling partners have committed to Vietnam from 2010 through 2015..

“Vietnam is an important growth market in the Asia Pacific region as we work to achieve our 2020 Vision goal of doubling system revenues this decade,” said Muhtar Kent, chairman and CEO, The Coca-Cola Company, during a visit to Hanoi.

“Vietnam’s economy has maintained healthy growth in recent years and this new financial commitment is more than an investment in Coca-Cola’s expansion in Vietnam, it is also an important acknowledgement of our belief in the long-term potential of this key market. Our continued investments in Vietnam underscore our commitment to building new infrastructure to support strong and sustainable growth, applying world-class marketing practices, creating new jobs, developing local talent, developing stronger partnerships with our local customers and investing heavily in the thousands of communities across Vietnam we proudly serve.”

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Moody’s downgrades Vietnam’s govt bond rating to B2, outlook stable

Singapore, September 28, 2012—Moody’s Investors Service has today downgraded Vietnam’s foreign- and local-currency government bond ratings to B2 from B1.

The ratings outlook is stable.

The key drivers for today’s ratings action are:

1. A higher likelihood that contingent risks to the government’s balance sheet will be realized due to more pronounced weaknesses in the banking system; and

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Vietnam’s president backs new system to fight corruption

Vietnamese President Truong Tan Sang has said placing the anti-corruption committee under the Party as has been decided is the best way to end corruption in the country.

At a recent meeting the Party decided to restructure the system by placing the Central Guidance Board for Anti-corruption under the Party general secretary. Hitherto, it was under the Prime Minister.

“The previous board made several gains in preventing waste and corruption, but not to the extent expected by the people,” Sang told Tuoi Tre newspaper in an interview.

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Japan’s Tokyu Corp. and Becamex to develop new city and transport infrastructure in Binh Duong

Japan’s Tokyu Corporation and Becamex IDC Corporation on Wednesday clinched a cooperation memorandum on traffic system development in Binh Duong, after the two sides had got licensed to develop an urban area in the province.

Takahashi Toshiyuki, executive officer of Tokyu Corporation, said the memorandum was aimed at developing a modern bus transit system and possibly a rail line connected to the inter-provincial transport system between Binh Duong and other areas in the Southern Key Economic Zone.

According to Toshiyuki, Binh Duong has a strategic position as a center of the Southern Key Economic Zone, with an annual GDP growth of 14-15%, far exceeding the nation’s average level. Despite a population of 1.6 million over the total of 24 million residents in the southern region, the public transport infrastructure there is still full of shortcomings.

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Weekly Update Jul 9: U.S.-ASEAN Business Forum, APEC Business Advisory Council

Highlights

AmCham’s World Blood Donor Day in the News
Raffle Prize Winners, USA Independence Day Celebration & Family Picnic
Fr, Jul 13 U.S.-ASEAN Business Forum, Siam Reap, Cambodia
ASEAN Reaps Rewards As Clinton Counters China: Southeast Asia and GMS
Mo, Jul 16 APEC Business Advisory Council – Investment Conference
Tu, Jul 17 Legal & VBF Liaison Committee
Welcome to new AmCham companies • Jan ~ Jun 2012
FDI into Vietnam continues to fall: down 27.3% in first half of 2012
Industrial Parks See Falling Investment in first half of 2012; FDI down 59% compared with 2011
Lockheed Martin-Built VINASAT-2 Satellite Begins Service for VNPT
Vietnam – U.S. Trade Status and Outlook, 2011 – 2020e (updated Jun 26, 2012)
Tu, Nov 6, U.S. General Elections Day • U.S. Voter Registration Web Sites

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Banks in Vietnam had weaker 2011 results, face rising debts

Jun 20, 2012. Banks in Vietnam had weaker financial performance in 2011 than the year before and their bad debts recently have been “rising continuously,” the central bank said in a report.

The report said that overall profit growth of banks slowed in 2011 to 15.1 percent, but it didn’t give any comparable figure for 2010.

The return on equity (ROE) of Vietnam’s banking system was 11.86 percent last year compared with 14.56 percent in 2010, and the 2011 return on assets (ROA) dropped to 1.09 percent from 1.29 percent the previous year, according to the report said.

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Bosch reports robust growth in 2011 business (FDI)

Jun 6, 2012. HCMC – Germany-based Robert Bosch Group obtained total revenues of US$ 220.5 million in Vietnam last year, up 75% from the previous year, mainly resulting from the export of push-belts, the company said on Tuesday.

Among the six business sectors in Vietnam, the sector of auto spare parts and accessories is the one having the highest sales growth of 160%.

Speaking at the press conference announcing the business results on Tuesday in HCMC, Vo Quang Hue, general director of Robert Bosch Vietnam Co. Ltd., said that this was the result of the domestic investments and the recruitment of more employees to expand operations in three big cities of Hanoi, Danang and HCMC.

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Vietnam’s drive to fix its weak banks could be stalling

May 4 (Reuters) – Moves to shrink the number of banks in Vietnam and reform its financial sector may be stalling, which could hurt efforts to put the country’s economy on a solid footing for the long-term.

Financial sector reform is one of three pillars in a program of economic restructuring Vietnam unveiled late last year, and on March 1 the government approved and published a broad plan for bank reform.

But banking reform could be stalling because authorities have higher priorities. The merger of up to eight banks, planned for the first quarter of this year, did not take place. The central bank changed the timeframe to the first half.

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Vietnam to Buy Bad Debt From Banks to Ease Risk of Collapse

Mar 5, 2012 Vietnam will buy bad debt from lenders under a plan approved by Prime Minister Nguyen Tan Dung this month, as the Southeast Asian nation seeks to prevent a collapse in the banking system.

The finance ministry will buy collateralized bad-debt from commercial banks to strengthen their balance sheets, under a plan to overhaul the industry by 2015 that was approved by Dung. Vietnam aims to cut bad-debt ratios at state-owned banks to below 3 percent by 2015, according to a statement posted on the government website on March 2.

The nation has stepped up efforts to fix a banking system hobbled by bad debt after rapid credit growth in recent years fueled a trade deficit and Asia’s fastest inflation.

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Moody’s upgrades Indonesia’s sovereign rating to Baa3; outlook stable

Singapore, January 18, 2012—Moody’s Investors Service has today upgraded the Government of Indonesia’s foreign and local currency bond ratings to Baa3 from Ba1.

The ratings outlook is stable.

The key drivers of this decision are:

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