The listing of Vietnam National Petroleum Group (PLX) in April 2017 as well as the recent equitization of Binh Son Refining & Petrochemical company (BSR) and PetroVietnam Oil Corporation (OIL) offer investors opportunities for exposure to a young and high-potential industry. Vietnam is thirsty for refined products. We estimate that Vietnam’s petroleum consumption CAGR will be 5.0% p.a. over the next five years, which is much higher compared to the global growth rate of 1.3% p.a. Such growth is
We were honored to moderate the panels on Vietnam Retail and E-commerce at our recent Vietnam Access Day conference. Our panel consisted of executives at leading retailing and e-commerce companies in Vietnam as well as experts in these spaces.
We are pleased to present our power sector masterclass presentation from our recent Vietnam Access Day conference. Vietnam electricity consumption growth remains robust at double digit rates. Vietnam is liberalizing its power sector. The competitive generation market (CGM) began operation in 2012 while the wholesale competitive market (WCM) is expected to begin operation in 2019. The WCM brings huge opportunities for power producers by allowing them to sell directly to wholesale custom
We presented a masterclass on Vietnam's residential real estate sector at our Vietnam Access Day investor conference last week. Please find our masterclass slides attached and key takeaways below: We expect Vietnam's residential real estate market to remain stable. We do not see signs of a property bubble as price growth has been measured. Macro and mortgage conditions also remain supportive for buyers.
We presented a masterclass on Vietnam's steel sector at our Vietnam Access Day investor conference last week. Please find our masterclass slides attached and key takeaways below: Robust demand from domestic residential, industrial, and infrastructure construction activity should drive strong steel consumption over the long-term. Vietnam is becoming a galvanized steel heavyweight in the region, with around half of total selling volume being exported, mostly to ASEAN markets.
We presented a masterclass on Vietnam's aviation sector at our Vietnam Access Day investor conference last week. Please find our masterclass slides attached and key takeaways below: Vietnam is the fastest growing aviation market in ASEAN and one of the fastest growing globally. Vietnam's air passenger traffic (inbound, outbound and domestic) grew by a CAGR of 17.4% over 2011-2016. International arrivals by air should more than double within the next decade as Vietnam is becoming a major
We are pleased to provide our consumer sector masterclass presentation from the recent Vietnam Access Day conference: Vietnam is at the inflection point of accelerating household consumption, bolstered by a fast-growing middle-affluent class and high consumer confidence. More attention should be paid to Vietnam’s population aging process and beneficial sectors such as healthcare, pharmaceuticals and insurance. Outstanding consumer trends that offer significant growth opportunities
We are pleased to provide our strategy masterclass presentation from our recent Vietnam Access Day conference. Vietnam’s impressive continuing GDP growth, exceeding 6% p.a., has been driven by FDI into the manufacturing sector. Manufacturing growth has had several ripple effects, including growing power consumption, expanding trade and rapid urbanization, leading to increasing wealth and consumption. At the same time, the government has maintained a stable macro environment focused on
We are pleased to present our insurance sector master class presentation from our recent Vietnam Access Day conference. Here is a summary of the key topics covered: Life insurance expected to continue to 30%+ growth in gross written premia having reach inflection point. Dai-ichi continues steady market share gain, but Bao Viet regains #1 spot in 2017. Low government bond yields pose threat to the economics of universal life products.
We are pleased to present our banking sector master class presentation from our recent Vietnam Access Day conference. Please also refer to our recent sector report for further information. Unwinding of cross-holdings starts to accelerate in 2017 after years of deliberation. Problems recede at SOCBs as asset quality improvements made. Sector NIMs hold steady despite funding pressures due to rotation into retail lending. Private banks have first mover advantage in non-interest income revenue