Vietnam Update: Vietnam Targets 6.4 to 6.8 percent growth in 2018

Vietnam Update | July 26, 2017
Authors: Hai Pham, Brian Ong

 
THE COUNCIL'S TAKE
 
 

Vietnam Targets 6.4 to 6.8 percent growth in 2018

The Ministry of Planning and Investment seeks a 6.4 to 6.8 percent economic growth rate for 2018, which remains in a consistent range with their 6.7 percent target growth rate for 2017. Similarly, they anticipate a nine to 10 percent increase in total export revenue; a sub-three percent trade deficit ratio of the total export revenue; and total investments for social development at 33.5 to 35 percent of the nation’s GDP. This type of growth will be achieved by improving business conditions, increasing foreign and private investments, and relaxing certain regulations to facilitate production and trade. The manufacturing, construction, banking and tourism sectors will benefit from these relaxed regulations and will drive growth in the upcoming year. Furthermore, the agriculture, forestry, and fishing sectors are all expected to remain strong in the global markets, which will contribute to this projected growth.

It should be noted that despite a projected 6.7 percent growth rate for 2017, Vietnam only experienced a 5.73 percent growth rate in the first half of the year. They would need a 7.42 percent growth rate the rest of the way to hit that 6.7 percent mark.

Vietnam Cybersecurity Ranks 101st, Lags Behind ASEAN Counterparts

Vietnam’s cybersecurity ranks 101 out of 195 countries, according to the UN International Telecommunication Union’s (ITU) Global Cybersecurity Index 2017 (GCI). To provide regional context, Singapore, Malaysia, and Thailand landed in the top 20. The ITU surveyed member nations regarding their commitment to cybersecurity and the five pillars of its Global Cybersecurity Agenda – legal, technical, organizational, capacity building, and cooperation. From this survey, the ITU generated the GCI score. Vietnam’s lack of resources to cybersecurity poses a risk to the nearly 50 million people in who have internet access in the country. For example, in August 2016, Vietnam experienced cyberattacks on two of its main airports. However, the nation has made strides in developing policy regarding cybersecurity as evidenced by its recent draft cybersecurity law, found here in English and in Vietnamese.

The draft cybersecurity law establishes the following provisions:

  • Foreign enterprises providing “telecommunication and/or internet services” to obtain business licenses, establish representative offices, and locate all servers “in which Vietnamese users data are administered” within Vietnam’s borders
  • Obliges telecommunication and internet service providers to deny service to any user failing to provide “authentic personal information”
  • Sets broad definition of cybersecurity, including national security, public order, and social interest issues; this allows for the suspension or withdrawal of the operating license for any website hosting content “contrary to the morality of the fine customs and practices.”

The Council has drafted a letter with comments regarding this law, with recommendations and concerns. Among the concerns, ICT industry leaders believe the scope of cybersecurity and certain provisions may be too broad. There are also concerns that this draft law may increase the cost of doing business in Vietnam and create roadblocks in building the digital economy.

 
IN THIS UPDATE
 
 
Regional Affairs
Việt Nam, Singapore share terrorism concerns
Vietnam, Malaysia vow to step up strategic partnership
Vietnam donates $25m for National Assembly expansion
Vietnam and India’s shared interests in the South China Sea

National Affairs
Vietnam to lift restrictions on foreign investment
$2.8 bln power plant makes Japan Vietnam’s biggest foreign investor in H1 - VnExpress International

Market Development
Three Funds That Will Ride Vietnam’s Growth
PM Phúc encourages Dutch investment in Việt Nam

Customs
HCM City to tackle smuggling, trade fraud at port - News VietNamNet
Vietnam and Singapore firms set up logistics joint venture
Cutting-edge trade portal opens
Issue handbook on National Single Window and ASEAN Single Window
Vietnam to lift restrictions on foreign investors: PM

Defense & Security
Vietnam confirms order of Russian T-90 tanks

Economics
Vietnam targets 6.4 - 6.8% growth in 2018
Taxation desperation in Vietnam
Chart Of The Week: A Golden Aging For Vietnam?
Taking Stock: An Update on Vietnam's Recent Economic Developments - July 2017
Vietnam exports over US$16 billion goods to US - News VietNamNet
Vietnam warned of increasing dependence on foreign capital - News VietNamNet
Vietnam works to realise export target of $188 billion - News VietNamNet
Vietnam’s economic growth to out-tiger China by 2018: UBS report - VnExpress International
$8.9b received from loan interest
Vietnam's unemployment dips slightly in Q2 - News VietNamNet

Energy
Vietnam's fuel imports may drop as Dung Quat oil refinery tax cut finally felt
Vietnam plans oil reserves equivalent of 90 days of imports by 2020
Hanoi air polluted by thermal power plants - News VietNamNet
VN to co-operate with Saudi Arabia in renewable energy projects
Concerns as Vietnam allows coal-fired power plant to dump waste near protected waters - VnExpress International
Coal imports/exports remain tricky problem for Vietnam - News VietNamNet
Dung Quat Oil Refinery seeking loans of $1.26bn to expand - News VietNamNet

Financial Services
Foreigners may be allowed to deposit savings in Vietnam
Vietnam: Life market grows steadily with US$1.06 billion revenue in 1H2017
SBV official clarifies MA concerns in banking sector
Vietnam: Insurance mart jumps by 21% in 1H on economic growth
Foreign banks scale down business in Vietnam
Vietnam’s insurance market up 21% in H1
Vietnam’s Economy Shows Fundamental Strength, with Stable and Positive Medium Term Outlook
Vietnam Ministry of Finance, Launch Trade Portal to Improve Ease of Doing Business
Swiss Asset Manager Puts Vietnam on the Map

Food & Agriculture
Vietnam's coffee export plunge could raise global supply concerns
Vietnam wastes 1 bln USD in over-fertilization annually
Iran, Vietnam keen to boost agricultural cooperation
Vietnamese processing industry in development
Vietnam gears toward agro export expansion - News VietNamNet
Vietnam may sue the US for trade barriers on catfish exports - News VietNamNet
Workshop on trust networks for food safety held

Health & Life Sciences
Việt Nam, UNFPA organise conference on family planning
How this private equity firm is betting on Asia's trillion-dollar health care industry
Japan and Vietnam cooperate on health insurance
VN to wipe out TB in 2030, says Deputy PM
Gov't to bring all HIV patients into insurance net
More management needed in medical sector

ICT
Vietnam telecom market posts strong growth-
Vietnam falls in global cybersecurity index
Good news from Vietnam’s robot industry - News VietNamNet
YouTube removes 3,000 clips with bad content in Vietnam - News VietNamNet
Vietnam ranks bottom in Southeast Asia for cybersecurity: UN report - VnExpress International
State ‘cyber troops’ manipulating social media facilities -- study

Infrastructure
Insufficient funds in Vietnam
Vietnam: Joint ventures more preferred for equity investment in real estate
Government looks to private sector for help building infrastructure - News VietNamNet
Smart cities: intelligent infrastructure for Vietnam’s grid | Lexology

Legislation
Vietnam plans new law for venture capital investments

Manufacturing
Vietnam logistics industry draws global attention - News VietNamNet
Domestic brands gain better recognition internationally - News VietNamNet
How can Vietnam’s goods enter foreign distribution chains? - News VietNamNet

Market Regulation
Vietnamese casino regulation amendments could bring benefits to the country
Vietnam to lift restrictions on foreign investment in privatization push: Prime Minister - VnExpress International
Central Bank of Vietnam cuts rates by 0.25-0.5 per cent - News VietNamNet
VN building management firms forced to improve

TPP
Will TPP's Death Kill Labor Rights Reform in Vietnam?
 
ARTICLE CLIPS
 
 
Regional Affairs

Việt Nam, Singapore share terrorism concerns vietnamnews.vn 25th Jul 2017
Việt Nam and Singapore share concerns over terrorism in the region and the world, and are willing to join hands in the fight against extreme violence, leaders of both countries said yesterday.

Vietnam, Malaysia vow to step up strategic partnership VietnamNet 25th Jul 2017
Vietnam, Malaysia vow to step up strategic partnership Vietnam and Malaysia have agreed to increase visits at all levels and through all channels along with exchanges between their citizens in order to advance the bilateral strategic partnership. 

Vietnam donates $25m for National Assembly expansion Khmer Times 21st Jul 2017
Cambodia and Vietnam have signed five agreements and the latter has also promised $25 million in aid to help Cambodia expand its National Assembly.

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.

National Affairs

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.”

$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.

Market Development

Three Funds That Will Ride Vietnam’s Growth Barron's 22nd Jul 2017
Vietnam has one of Asia’s fastest-growing middle classes, and foreign companies are pouring in to tap a workforce whose wages are much lower than those earned by workers in China.

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.

Customs

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. 

Vietnam and Singapore firms set up logistics joint venture VnExpress International 24th Jul 2017
Quang Binh Import and Export Joint Stock Company has inked a joint venture deal with Transworld GLS Vietnam Ltd, a unit of Transworld Singapore Group, to establish Transworld QBV ICD. The joint venture will specialize in providing warehouse, loading and unloading, packing and customs clearance services and other services related to road, rail and waterway transportation at Quang Binh - Dinh Vu ICD (Inland Container Depot) in Hai Phong.

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”.

Defense & Security

Vietnam confirms order of Russian T-90 tanks Jane's 360 25th Jul 2017
Vietnam has ordered 64 T-90S/SK main battle tanks (MBTs) from Russia, state-run news agencies in Hanoi confirmed on 21 July.

Economics

Vietnam targets 6.4 - 6.8% growth in 2018 The Jakarta Post 24th Jul 2017
The Ministry of Planning and Investment is targeting an economic growth rate of 6.4 percent to 6.8 percent for Vietnam in 2018, according to a document sent to ministries and local authorities with guidelines to develop the socio-economic plan for 2018.

Taxation desperation in Vietnam Asia Times 23rd Jul 2017
But for Vietnam’s government, Grab and Uber, another foreign-owned app-based taxi firm, are paying less than they should to state coffers. Last month, the General Department of Taxation, the agency charged with collecting domestic taxes, instructed local tax departments across Vietnam to increase inspection of both companies.

Chart Of The Week: A Golden Aging For Vietnam? Seeking Alpha 18th Jul 2017
Vietnam’s demographic dividend is fast turning into a handicap. For decades, working-age Vietnamese made up an expanding share of the population, boosting economic growth and helping to keep retirement and health spending in check.

Taking Stock: An Update on Vietnam's Recent Economic Developments - July 2017 The World Bank 17th Jul 2017
Taking Stock: An Update on Vietnam's Recent Economic Developments, Special Focus: Towards a High-Quality Fiscal Consolidation, July 2017

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 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.

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.

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.

$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).

Energy

Vietnam's fuel imports may drop as Dung Quat oil refinery tax cut finally felt The Times of India 25th Jul 2017
Vietnam's fuel imports may drop as the effects of a tax cut on sales of gasoline and diesel fuel from the country's Dung Quat oil refinery start to be felt as earlier term contracts expire.

Vietnam plans oil reserves equivalent of 90 days of imports by 2020 Reuters 19th Jul 2017
Vietnam's prime minister has approved a plan for the country's total crude oil and oil product stocks to be at least 90 days' worth of net imports by 2020.

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.

Financial Services

Foreigners may be allowed to deposit savings in Vietnam VietnamNet 25th Jul 2017
According to a draft circular of the State Bank of Vietnam (SBV), foreigners will be permitted to deposit savings in VND and foreign currency at commercial banks in Vietnam.

Vietnam: Life market grows steadily with US$1.06 billion revenue in 1H2017 Asia Insurance Review 25th Jul 2017
Life insurance in Vietnam continues on a steady growth trajectory. Total life insurance premiums collected in 1H2017 amounted to VND27.83 trillion (US$1.06 billion), according to the Ministry of Finance's Insurance Supervisory Authority (ISA). This is a marked increase from VND21 trillion in the same period last year, which was in turn a 37% rise from 1H2015.

SBV official clarifies MA concerns in banking sector vietnamnews.vn 21st Jul 2017
Việt Nam will have one more wholly foreign-owned bank if the merger and acquisition (M&A) deal on OceanBank is finalised, a State Bank of Việt Nam (SBV) official said on Thursday. Bùi Huy Thọ, deputy director of the Department for Management of Credit Institution and Banking Operation Licensing under the SBV’s Banking Supervision Agency, said that a foreign investor has started the second phase of comprehensive assessment of the OceanBank’s operation before deciding to acquire the lender.

Vietnam: Insurance mart jumps by 21% in 1H on economic growth Asia Insurance Review 20th Jul 2017
Vietnam's insurance industry is benefitting from the country's GDP growth, as is shown by the sector's 21% increase in total premiums to VND47.17 trillion (US$1.8 billion) in the first half of this year. Insurance growth is forecast to continue as GDP growth is projected at more than 6% annually over the next three years, reported Vietnam News. Swiss investment bank UBS has forecast that Vietnam's economic growth will expand by 6.5% this year.

Foreign banks scale down business in Vietnam News VietNamNet 18th Jul 2017
Some large foreign banks operating in Vietnam have recently scaled down their business or withdrawn capital from Vietnamese banks. What is happening with the banking sector? VIB Bank has announced it will take over the operation of Commonwealth Bank of Australia (CBA) HCMC branch. 

Vietnam’s insurance market up 21% in H1 Business World 13th Jul 2017
Vietnam’s insurance market up 21% in H1 The total premium collected by insurance companies in Viet Nam in the first half of 2017 has grown 21 per cent year-on-year to VND47.17 trillion (US$1.8 billion).

Vietnam’s Economy Shows Fundamental Strength, with Stable and Positive Medium Term Outlook World Bank 13th Jul 2017
WB bi-annual report recognizes strong momentum of Vietnam’s economy and points to policies to solidify macroeconomic resilience and address structural bottlenecks to growth. Amidst strengthening recovery in the global economy since late 2016, Vietnam’s gross domestic product (GDP) expanded by 5.7 percent during the first half 2017, while inflation has so far moderated and core inflation remains low, at less than 2 percent.

Vietnam Ministry of Finance, Launch Trade Portal to Improve Ease of Doing Business World Bank 12th Jul 2017
Vietnam’s business community now has a one-stop shop to get information on import-export regulations and procedures, thanks to the newly-launched Vietnam Trade Information Portal (VTIP). Deputy Prime Minister Vuong Dinh Hue, Minister of Finance Dinh Tien Dung, World Bank’s Acting Country Director Sebastian Eckardt, and Director General of Vietnam Custom Nguyen Van Can jointly pushed the button to make VTIP live.

Swiss Asset Manager Puts Vietnam on the Map finews.asia 11th Jul 2017
Vietnam hasn’t figured prominently on the radar of Swiss investors yet. An asset manager is now opening the country’s market for European investors in a cooperation with Neue Helvetische Bank. Turicum Investment Management (TIM), which is based in Baar near Zug, has been active in Vietnam for more than ten years and has an office in Ho Chi Minh City. There, the company is managing assets belonging to international institutions and private clients alike.

Food & Agriculture

Vietnam's coffee export plunge could raise global supply concerns VnExpress International 25th Jul 2017
Vietnam's coffee exports fell last month by more than a fifth from the same period last year, extending a downward trend that started in March following a smaller harvest this season and a higher ratio of low-quality beans, government data showed.

Vietnam wastes 1 bln USD in over-fertilization annually Xinhua 22nd Jul 2017
Vietnam wastes at least 23 trillion Vietnamese dong (over 1 billion U.S. dollars) annually in over-fertilization, the Vietnam News Agency quoted local experts as saying on Saturday.

Iran, Vietnam keen to boost agricultural cooperation Xinhua 16th Jul 2017
Iran and Vietnam have discussed boost of cooperation particularly in agriculture sector, Financial Tribune daily reported on Sunday.

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 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.

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.

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.

Health & Life Sciences

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.

Japan and Vietnam cooperate on health insurance VietnamNet 18th Jul 2017
Japan International Cooperation Agency (JICA), Ministry of Health (MOH) and Viet Nam Social Security (VSS) yesterday signed a record on the discussions of a project to improve the management of health insurance payment in Viet Nam.

VN to wipe out TB in 2030, says Deputy PM vietnamnews 18th Jul 2017
Việt Nam will wipe out tuberculosis in 2030, Deputy Prime Minister Vũ Đức Đam said at the 60th anniversary of the Hà Nội-based Central Lung Hospital, five years earlier than many nations in the world.

Gov't to bring all HIV patients into insurance net VietnamNet 18th Jul 2017
Gov't to bring all HIV patients into insurance net. N.C.T, a 32-year-old man, and his partner, a 38-year-old man, are waiting at the District 11 Preventive Medicine Centre to receive free antiretroviral drugs. With international support, ARV treatment has been made available free of charge in Vietnam.

More management needed in medical sector vietnamnews 18th Jul 2017
Medical equipment and machinery used in hospitals across Việt Nam require significant upgrades, and the management for these expensive devices is currently lacking.

ICT

Vietnam telecom market posts strong growth- Nikkei Asian Review 25th Jul 2017
Vietnam's telecom market posted a 127% increase in total revenues to 213 trillion dong ($9.38 billion) during the first half of 2017, with major contributions from Viettel, with 55% of industry revenues, Vietnam Posts and Telecommunications Group (31%), and Mobifone (9.9%).

Vietnam falls in global cybersecurity index VietnamNet 25th Jul 2017
Vietnam falls in global cybersecurity index Vietnam ranked 101st out of 193 countries with a score of 0.245 in the Global Cybersecurity Index (GCI) 2017 compiled by the International Telecommunication Union (ITU).

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.

State ‘cyber troops’ manipulating social media facilities -- study Business World 19th Jul 2017
LONDON -- Governments around the world are enlisting “cyber troops” who manipulate Facebook, Twitter and other social media outlets to steer public opinion, spread misinformation and undermine critics, according to a new report from the University of Oxford. Adding to growing evidence of government-sponsored efforts to use online tools to influence politics, researchers found 29 countries using social media to shape opinion domestically or with foreign audiences.

Infrastructure

Insufficient funds in Vietnam Asia Times 21st Jul 2017
For a city of eight million and counting, Ho Chi Minh City’s mass transit metro system can only be described as an absolute necessity. Yet construction on the six-line railway, first proposed in 2001, has been dogged by delays caused by insufficient state funds.

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.

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.

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.

Legislation

Vietnam plans new law for venture capital investments DealStreetAsia 17th Jul 2017
Vietnam plans to implement a new law that will govern the establishment of domestic venture capital funds, and help funnel investments into startups in the country, that has become an emerging markets standout with steady growth.  According to the Communist party’s draft socioeconomic plan, Vietnam will target 7 per cent growth annually until 2020. The draft law on support for small and medium enterprises (SME), which is expected to be passed during the country’s third parliamentary session this year, has a dedicated section for startup companies, which it calls “innovative businesses”.

Manufacturing

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.

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. 

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. 

Market Regulation

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.

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.

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.

TPP

Will TPP's Death Kill Labor Rights Reform in Vietnam? The Diplomat 17th Jul 2017
Currently, Vietnamese law and practice are far removed from international labor standards on freedom of association and collective bargaining. First, according to the International Labor Organization, workers have the right to establish organizations of their own choosing without previous authorization, which implies the possibility of creating, if the workers so choose, more than one workers’ organization per enterprise. In Vietnam, the monopoly of the trade union system is imposed by law. Workers do not enjoy the true right to organize, and they cannot choose to establish or to join trade unions of their own choosing because there is only one legally recognized system of trade unions. The organization of trade unions is prescribed by the Charter of Vietnamese Trade Union adopted by the Vietnam General Confederation of Labor (VGCL).