Vietnam and India’s shared interests in the South China Sea The Interpreter 11th Jul 2017
Vietnam's recent request to India to play a more prominent role in Southeast Asia and the South China Sea did not come as a total surprise. It's not the first time Vietnam has asked a nation with no direct interest in the area for backing – it made a similar call to South Korea a few months ago. While not much appears to have come of that request (unsurprisingly, given the nature of Vietnam and South Korea's relationship – big on business and investment and low on strategy), India is a different proposition entirely.
Vietnam drills for oil in South China Sea BBC News 5th Jul 2017
Vietnam has begun drilling for oil in an area of the resource-rich South China Sea also claimed by China. An oil industry consultant told the BBC that a drilling ship on contract to international firm Talisman-Vietnam was working off Vietnam's south-east coast.
India-Vietnam should achieve $15 billion trade target by 2020: President Pranab Mukerjee The Economic Times 4th Jul 2017
NEW DELHI: President Pranab Mukerjee today said India and Vietnam should take steps to achieve USD 15 billion bilateral trade target by 2020.
$2.8 bln power plant makes Japan Vietnam’s biggest foreign investor in H1 - VnExpress International VnExpress International – Latest news, business, travel and analysis from Vietnam 11th Jul 2017
Actual foreign direct investment flowing into Vietnam is estimated to have risen 6.5 percent in the first six months of 2017 from the same period last year to $7.72 billion, according to figures from the Ministry of Planning and Investment.
Vietnam to lift restrictions on foreign investment The Nation 11th Jul 2017
Addressing the Vietnam-Netherlands Business Forum in The Hague, Phuc told 450 participating enterprises, including nearly 300 from the host country, “You can become strategic shareholders in many Vietnamese state-owned enterprises that are about to sell shares on the market.”
PM Phúc encourages Dutch investment in Việt Nam vietnamnews.vn 12th Jul 2017
Prime Minister Nguyễn Xuân Phúc on Monday assured Dutch firms that Việt Nam was making a concerted effort to build a development-facilitating, transparent government, and create favourable conditions for businesses.
Vietnam is Churning Out 300 New Startups a Day The News Lens International Edition 3rd Jul 2017
Last year was called the year of the startup in Vietnam. Never before has the Vietnamese government shown so much support for startups. Entrepreneurship has been emphasized as a key driver for Vietnam’s economy by the national media and in almost all official speeches made by Vietnam’s new Prime Minister Nguyen Xuan Phuc.
PHL, Vietnam rising as Asean’s new car hubs | BusinessMirror BusinessMirror 6th Jul 2017
TO get a taste of Southeast Asia’s burgeoning 600 million-strong consumer base and what it means for economic growth, take a look at the car industry. Carmakers are racing to steal a bigger slice of the market attracted by rising incomes and young workers looking to buy their first set of wheels. The Philippines and Vietnam will be the two fastest-growing production hubs from 2017 to 2021, according to BMI Research. Output will surge 300 percent in the Philippines to 359,000 units and almost double in Vietnam to 112,000 units, it forecast in June.
Vietnam exports over US$16 billion goods to US - News VietNamNet VietnamNet 12th Jul 2017
Vietnam exports over US$16 billion goods to US Vietnam shipped to the US US$16 billion worth of commodities in the past five months of this year, up 10% year on year while its imports from the partner reached US$3.94 billion, up 26.3%.
Vietnam works to realise export target of $188 billion - News VietNamNet VietnamNet 11th Jul 2017
Vietnam works to realise export target of $188 billion The industry and trade sector expects to make a beeline for realising its export turnover target of 188 billion USD in 2017, or 6.9 percent higher than last year.
HCM City to tackle smuggling, trade fraud at port - News VietNamNet VietnamNet 11th Jul 2017
HCM City to tackle smuggling, trade fraud at port VietNamNet Bridge – HCM City plans to step up enforcement against smuggling and trade fraud to cope with the increasing number of violations, especially at Cat Lai Port in HCM City.
Cutting-edge trade portal opens Vietnamnews 13th Jul 2017
The Vietnam Trade Information Portal (VTIP) was officially launched yesterday by the General Department of Vietnam Customs (GDVC) with the help of the World Bank (WB), in order to provide the business community with a reliable one window information source on relevant legal regulations and categorisation for both export and import purposes. The latest effort by the government to increase information access for businesses and meet the requirements of the World Trade Organisation (WTO)’s Trade Facilitation Agreement (TFA), the VTIP contains all the information needed for exporters and importers in their business.
Issue handbook on National Single Window and ASEAN Single Window Customs News 11th Jul 2017
The General Department of Vietnam Customs has issued the “Handbook on National Single Window and ASEAN Single Window to support the business community, ministries, and sectors in the implementation of the NSW and ASW. According to the leader of the General Department of Vietnam Customs, the development of the Handbook on National Single Window and ASEAN Single Window is to raise awareness and promote information dissemination and provision in a timely fashion and sufficiently on the National Single Window to people and businesses.
Vietnam to lift restrictions on foreign investors: PM VietnamPlus 11th Jul 2017
Vietnam will lift restrictions in areas including services, telecommunications, financing and banking among others, facilitating foreign investors’ engagement and raising their ownership stakes in domestic firms, said Prime Minister Nguyen Xuan Phuc. Addressing the Vietnam-Netherlands Business Forum entitled Towards a Sustainable Future in the Hague on July 10, PM Phuc told 450 participating enterprises, including nearly 300 from the host country, that “you can become strategic shareholders of many Vietnamese State-owned enterprises that are about to sell shares on the market”.
Projects on management and supervision of goods at airports will be implemented in October 2017 Customs News 5th Jul 2017
Defense & Security
In order to inform enterprises about the plan for implementation of the project on managing and supervising goods at airports, on the afternoon of 4th July 2017, the General Department of Vietnam Customs held a seminar to introduce the plan. The IT system solution is to deploy a centralized information technology system for the exchange of information between Customs and air cargo companies, and related parties through the National Single Window. The seminar was attended by about 40 enterprises operating in warehouses, ports, and airlines. According to the plan, the information system supporting the management and supervision of cargoes at airports will be piloted at the Hanoi Customs Department in October 2017.
Navy to train with Vietnam amidst rising tensions with China Navy Times 10th Jul 2017
While the relationship between the U.S. and China has strained recently over territorial disputes in the South China Sea, the U.S. Navy announced Wednesday that it has begun training drills with a different nation with ties to the region — Vietnam, reports
Vietnam emerges as a big Military equipment market New Delhi Times 10th Jul 2017
Vietnam is considered by most global defence contractors as a market with great potential. The country’s defence expenditure is increasing strongly and the government is determined to enter into strategic partnerships with new allies, which means its traditional reliance on Russia is gradually diminishing. Its list of military requirements, meanwhile, is long.
US, Vietnam Kick Off First Naval Engagement Activity in Trump Era The Diplomat 6th Jul 2017
On July 5, the United States and Vietnam kicked of the eighth iteration of their annual naval engagement in just the latest sign of their ongoing defense ties.
Vietnam warned of increasing dependence on foreign capital - News VietNamNet VietnamNet 12th Jul 2017
Vietnam warned of increasing dependence on foreign capital Indexes for 2017 second quarter reflected Vietnam’s increasing dependence on foreign direct investment (FDI), said the Vietnam Institute for Economic and Policy Research (VEPR) in its recent report on the performance of the economy in the quarter.
$8.9b received from loan interest vietnamnews.vn 11th Jul 2017
Credit institutions have received some VNĐ200 trillion (US$8.9 billion) yearly from interest rates of bank loans, according to the Ministry of Finance’s estimates.
Vietnam's unemployment dips slightly in Q2 - News VietNamNet VietnamNet 11th Jul 2017
Vietnam's unemployment dips slightly in Q2 In the second quarter of this year, Vietnam recorded a labour force of 54.52 million, of which 53.4 million people aged 15 years or more found work, according to the General Statistics Office (GSO).
Vietnam’s economic growth to out-tiger China by 2018: UBS report - VnExpress International VnExpress International – Latest news, business, travel and analysis from Vietnam 11th Jul 2017
Swiss investment bank UBS has forecast that Vietnam will marginally outpace China’s economic growth for the first time in 2018.
Vietnam's Rate Cut May Spur Growth Amid Credit Worries Bloomberg.com 9th Jul 2017
Vietnam’s surprise lowering of interest rates for the first time in three years may help to support economic growth, but raises credit risks in a nation still grappling with a hangover of bad debt.
Vietnam eyes economic growth of 6.4 to 6.8 pct next year - Xinhua | English.news.cn Xinhua 6th Jul 2017
HANOI, July 6 (Xinhua) -- Under a directive on building a plan for socioeconomic development and state budget estimate in 2018 recently signed by the Vietnamese Prime Minister Nguyen Xuan Phuc, the Vietnamese economy is expected to grow 6.4-6.8 percent next year, Vietnam News Agency reported on Thursday.
IMF lowers 2017 GDP forecast for Vietnam Financial Times 6th Jul 2017
The International Monetary Fund nudged its 2017 forecast for Vietnam’s gross domestic product lower on Thursday, but voiced optimism that the country’s economy could benefit from what it described as an “ambitious reform agenda”.
Hanoi air polluted by thermal power plants - News VietNamNet VietnamNet 12th Jul 2017
Inspection tours by the General Directorate of Environment at 19 thermal power plants have found that regulations on environmental protection have been violated at many plants.
VN to co-operate with Saudi Arabia in renewable energy projects vietnamnews.vn 12th Jul 2017
Việt Nam’s FECON Corporation and Saudi Arabi’s Acwa Power on Monday signed a Memorandum of Understanding (MOU) for co-operation on joint development of renewable energy projects in Việt Nam.
Concerns as Vietnam allows coal-fired power plant to dump waste near protected waters - VnExpress International VnExpress International – Latest news, business, travel and analysis from Vietnam 11th Jul 2017
Vietnam’s environment ministry has given a power company permission to dump nearly one million cubic meters of mud from a coastal thermal plant into the sea.
Coal imports/exports remain tricky problem for Vietnam - News VietNamNet VietnamNet 11th Jul 2017
While a large amount of coal was exported in the first months of the year, most coal used in the country was imported. Coal exports have had a sharp export growth rate. GDC said that coal exports from the beginning of the year to May 15 reached 709,624 tons, worth $106.73 million, which represented an increase of 375 percent in quantity and 660 percent in value in comparison with the same period last year.
Dung Quat Oil Refinery seeking loans of $1.26bn to expand - News VietNamNet VietnamNet 11th Jul 2017
Dung Quat Oil Refinery seeking loans of $1.26bn to expand The Binh Son Refining and Petrochemical Co. (BSR), the operator of the Dung Quat Oil Refinery in central Quang Ngai province, plans to take out loans of a combined $1.26 billion to expand its capacity, according to a plan unveiled by the Ministry of Industry and Trade.
Vietnam's EVN opens new control center for 21 provinces Asian Power 7th Jul 2017
The center is to remotly monitor medium and low-voltage grids. In June 2017, Siemens and the state-run energy company, Electricity of Vietnam Southern Power Corporation (EVN SPC), opened a new main control center in Ho Chi Minh City. The Vietnamese energy provider had Siemens develop, design and build the facilities in the main control center in order to be able to remotely monitor and control the medium- and low-voltage grids in 21 provinces in the southern part of the country. This project will significantly improve the availability and efficiency of the distribution grids in this region and reduce power outages, thus contributing to the economic development.
Government bonds become darling of foreign investors vietnamnews.vn 10th Jul 2017
Food & Agriculture
Recently government bonds have seen strong foreign buying despite the facts that the dollar is expected to continue appreciating due to the US’s plan to raise interest rates a few more times in the near future and that Việt Nam does not have incentives to attract foreign investment in its bonds.
Vietnamese processing industry in development Fresh Plaza 12th Jul 2017
The Vietnamese export of fruit and vegetables has risen considerably in recent years. The increasing demand, both domestically and from abroad, and the economic growth, contribute to the development of this sector. More investments are also made in the processing industry.
Vietnam may sue the US for trade barriers on catfish exports - News VietNamNet VietnamNet 11th Jul 2017
Tra fish export companies in Mekong Delta have been warned about the disadvantages of exporting tra fish to the US because of stringent provisions set by the US Farm Bill.
Vietnam gears toward agro export expansion - News VietNamNet VietnamNet 11th Jul 2017
VietNamNet Bridge – Nguyen Xuan Cuong, Minister of Agriculture and Rural Development, talks to Nong thon Ngay nay (Countryside Today) about plans to increase exports of agro-products.
Workshop on trust networks for food safety held vietnamnews.vn 11th Jul 2017
Nearly 100 representatives attended a one-day workshop called “Scaling up the trust networks for food safety with small farmers,” held today in Hà Nội.
Vietnam to promote high-quality rice Bangkok Post 6th Jul 2017
HANOI - Vietnam has outlined plans to boost revenues from rice exports over the next decade by focusing on a higher quality product and selling more outside Asia.
Ho Chi Minh City: The heart of Asia's craft brew scene CNN 5th Jul 2017
Health & Life Sciences
But feather-light lagers aren't the only game in town anymore. The country's craft beer scene is booming, having welcomed more than a dozen micro-breweries in the past two years.
Việt Nam, UNFPA organise conference on family planning vietnamnews.vn 11th Jul 2017
The health ministry and the United Nations Population Fund (UNFPA) in Việt Nam on Tuesday commemorated the 40th anniversary of Việt Nam-UNFPA Co-operation by organising a conference on family planning.
How this private equity firm is betting on Asia's trillion-dollar health care industry CNBC 11th Jul 2017
Singapore-based private equity firm Quadria Capital is growing in Vietnam and expanding its holdings in Singapore as it looks to grow its influence in Asia's trillion-dollar health care space.
Good news from Vietnam’s robot industry - News VietNamNet VietnamNet 12th Jul 2017
After a year of working for a US-based robot company which has an office in Vietnam, Truong Trong Toai, a graduate of the HCMC University of Technology, left Vietnam for South Korea to study for a master’s degree. He returned to Vietnam to set up a robot manufacturing company called Robotics 3T.
YouTube removes 3,000 clips with bad content in Vietnam - News VietNamNet VietnamNet 11th Jul 2017
YouTube removes 3,000 clips with bad content in Vietnam
Vietnam ranks bottom in Southeast Asia for cybersecurity: UN report - VnExpress International VnExpress International – Latest news, business, travel and analysis from Vietnam 11th Jul 2017
Vietnam's cybersecurity has been ranked 101st out of 195 countries in the Global Security Index 2017 compiled by the U.N. International Telecommunication Union, while regional peers Singapore, Malaysia and Thailand made it into the top 20.
Vietnam rides on Samsung's coattails- Nikkei Asian Review 6th Jul 2017
HANOI -- Vietnam's economic growth picked up in the three months through June thanks largely to a recovery in Samsung Electronics' exports.
Facebook business to pay five percent revenue tax VietnamPlus 10th Jul 2017
Small and home-based business owners who use the Facebook platform to sell products and have revenue of more than 100 million VND (4,500 USD) per year will be taxed at five percent. The money will be paid through a tax registration, value added tax, personal income tax and other taxes depending on the goods they sell. The tax level for those who have the same revenue in a traditional business is around four times higher, nearly 8 million VND (360 USD).
Vietnam: Joint ventures more preferred for equity investment in real estate DealStreetAsia 12th Jul 2017
Joint ventures are the most preferred route for investors in the Vietnamese real estate sector since the beginning of this year, as they seek to combine the assets owned by local developers with the capital and expertise of foreign companies.
Smart cities: intelligent infrastructure for Vietnam’s grid | Lexology Lexology 11th Jul 2017
If not already mesmerised by the traffic, visitors to Vietnam’s large cities often comment on the mass of cables that hang like jungle vines across the streets. Along with the ubiquitous motorcycle, the sight of electrical poles that look more like birds’ nests is emblematic of modern-day Vietnam. It is also a clear sign that the country’s power infrastructure has some serious catching up to do.
Government looks to private sector for help building infrastructure - News VietNamNet VietnamNet 11th Jul 2017
Government looks to private sector for help building infrastructure The Vietnam government fully understands that to compete for foreign direct investment with other Asian countries over the long term— low wages aren’t sufficient, says leading economist Eugenia Victorino.
Vietnam, Laos to hold first border friendship exchange vietnamplus.vn 12th Jul 2017
Hanoi (VNA) – The first Vietnam-Laos border friendship exchange will take place in the northern mountainous province of Son La on July 22-24, a senior official from the Defence Ministry’s Border Guard High Command told a press conference in Hanoi on July 12.
Hanoi slated to ban motorbikes, 'the culture of Vietnam' CNN 5th Jul 2017
The entrepreneur's business takes at least a dozen tourists around the Vietnamese capital every day, by way of the city's staple mode of transportation.
Vietnam logistics industry draws global attention - News VietNamNet VietnamNet 12th Jul 2017
As Vietnam emerges from international isolation and opens its markets, the expanded commercial trade offers significant opportunities for foreign transnational transportation and logistics companies, reports the Oxford Business Group.
How can Vietnam’s goods enter foreign distribution chains? - News VietNamNet VietnamNet 11th Jul 2017
Improving the quality of exports is the top requirement that Vietnamese manufacturers must meet in order to have their goods accepted by foreign supermarket chains.
Domestic brands gain better recognition internationally - News VietNamNet VietnamNet 11th Jul 2017
Domestic brands gain better recognition internationally The appearance of 11 Vietnamese brands in the list of Asia’s top 1,000 this year has demonstrated domestic firms’ increasing awareness about building and affirming their own brands.
Vietnam manufacturing picks up in June Financial Times 3rd Jul 2017
Vietnam’s manufacturing sector picked up last month following a slowdown in May thanks to a sharp rise in new orders and production.
Vietnamese casino regulation amendments could bring benefits to the country Casinopedia 12th Jul 2017
It has been reported that, according to Jones Lang LaSalle, a real estate firm based in the United States, ‘major international casino operators’ have been showing an interest in the Vietnamese casino sector.
Vietnam to lift restrictions on foreign investment in privatization push: Prime Minister - VnExpress International VnExpress International – Latest news, business, travel and analysis from Vietnam 12th Jul 2017
Vietnamese Prime Minister Nguyen Xuan Phuc appealed for foreign investment in state-owned enterprises at a business forum in The Hague on Monday.
VN building management firms forced to improve vietnamnews.vn 11th Jul 2017
The rapid urbanisation of Việt Nam, together with a boom in the number of high-rise buildings, is pushing local building management firms to be more professional in order to compete with foreign rivals.
Central Bank of Vietnam cuts rates by 0.25-0.5 per cent - News VietNamNet VietnamNet 11th Jul 2017
Central Bank of Vietnam cuts rates by 0.25-0.5 per cent The State Bank of Viet Nam (SBV) has cut several interest rates for the first time since 2014 in order to support business and boost economic growth.
Vietnamese Party, Government leaders meet Singapore’s PAP chief Nhan Dan 6th Jul 2017
Party leader Trong lauded the valuable assistance that the PAP and Singaporean government have provided for the Communist Party of Vietnam (CPV) in terms of personnel training.