Vietnam out of step with rest of ASEAN - China - Chinadaily.com.cn China Daily 7th Aug 2017
At their meeting in Manila on Sunday, the foreign ministers of China and the members of the Association of Southeast Asian Nations spoke highly of the achievements made in China-ASEAN ties over the past 15 years and agreed to push their cooperation to an even higher level.
PH, Vietnam eyes enhanced cooperation Update Philippines 7th Aug 2017
The Philippines and Vietnam are looking forward to a enhanced cooperation. This is after Foreign Affairs Secretary Alan Peter Cayetano and Minister of Foreign Affairs of Vietnam Pham Binh Minh met at the sidelines of the 50th ASEAN Ministerial Meeting (AMM) in Manila.
Vietnam and Malaysia eye $15 billion trade by 2020 Bangkok Post 27th Jul 2017
Trade between Vietnam and Malaysia has increased three-fold over the last decade to $10.3 billion and the two countries have set the target of $15 billion by 2020.
Trump picks Nebraska native Daniel Kritenbrink to be U.S. ambassador to Vietnam Omaha.com 28th Jul 2017
President Donald Trump has tapped Nebraska native Daniel Kritenbrink to be the next U.S. ambassador to Vietnam. Currently senior adviser for North Korea policy at the State Department, Kritenbrink has served at the highest levels during his foreign service career. He’s been a diplomat since 1994. He was senior director for Asian affairs for President Barack Obama’s National Security Council. Prior to that he was deputy chief of mission in Beijing. Kritenbrink grew up outside Ashland and developed his interest in world affairs while studying political science at the University of Nebraska at Kearney.
Vietnam’s retail sales jump to $74bln in first 7 months - VnExpress International VnExpress International – Latest news, business, travel and analysis from Vietnam 8th Aug 2017
Vietnam’s retail sales rose 10 percent to around $74 billion in the first seven months of this year, latest data from the General Statistics Office (GSO) showed, of which sales of foods and foodstuffs witnessed the strongest growth, followed by clothing and footwear, and household appliances.
Where is Vietnam’s banking system on the region’s map? - News VietNamNet VietnamNet 7th Aug 2017
Phan Minh Ngoc, an economist, analyses the indexes to show the health of Vietnamese banks. Credit growth rate Reports show that credit in Vietnam has soared since 2015, putting Vietnam among the countries with the highest credit growth rates. However, other developing countries at the same development level with Vietnam also saw relatively high credit growth rates in 2016 and expect the same high growth rates for 2017, just 2-3 percentage points lower than Vietnam’s.
Vietnam : Vietnamese garment firms not fully benefiting from FTAs - Apparel News Vietnam Fibre2Fashion 8th Aug 2017
At a recent seminar in Ho Chi Minh City, the experts observed that the firms in the country that have taken advantage of FTA breaks belong to the FDI sector. Garments and textiles comprise Vietnam’s key exports.
Vietnam considers cutting export tariff to rescue cement manufacturers - News VietNamNet VietnamNet 7th Aug 2017
The Ministry of Planning and Invetsment (MPI) has proposed slashing the export tariff to save cement manufacturers facing million tons of cement in stock.
Willingness to deploy the “airway single window” Customs News 7th Aug 2017
The Customs Department of Hanoi is selected as the first unit to implement the national airway single window mechanism and the Project on supervision of air cargo (belonging to General Project of the General Department of Customs on management and supervision of goods in seaports and airports) by the General Department of Customs.
Health enterprises join the National Single Window: Saving time, cost and human resources Customs News 6th Aug 2017
According to Mr. Nguyen Minh Tuan, the Director of the Department of Medical Equipment and Health Facilities (under the Ministry of Health), from 30th November 2015, the Ministry of Health has coordinated with the General Department of Vietnam Customs to officially carry out procedures for granting import paper for medical equipment on the National Single Window (NSW) system for importers of these items nationwide.
Finance Ministry refuses to cut coal import tax Vietnamnet 31st Jul 2017
The Ministry of Finance has proposed increasing import duty on coal instead of reducing it for the Vietnam National Coal - Mineral Industries Group (Vinacomin). The ministry has proposed the Government increase import duty on coal to 3% or 5% from the current 0%. The volume of coal inventories of the group had reached 9.5 million tons by May.
Customs hurdles for cashew Vietnamnet 30th Jul 2017
The Vietnam Cashew Association (VINACAS) has asked Government authorities to tackle obstacles in customs declaration procedure. According to the association, many enterprises importing cashew materials for processing and re-export are facing the risk of demurrage/storage charge hike due to the Prime Minister’s Decision No 15/2017/QD-TTg on May 12 and the General Department of Vietnam Customs’ Document No 4824/TCHQ-GSQL.
Ministry proposes tax cuts to boost cement export VietnamPlus 28th Jul 2017
Defense & Security
The Ministry of Planning and Investment has proposed export tax cuts on cement while local producers are struggling with high stockpiles as supply has exceeded demand in the domestic market. In a recent report submitted to the government, the ministry said that the export tax rate of five percent on cement was too high, which undermined competitiveness of Vietnamese cement in the global market.
Reforms are needed for Vietnam’s military - Shephard Media - Aerospace, defence and security news and analysis Shepherd 7th Aug 2017
Vietnam must begin serious modernisation and structural reform if it wants to hold its own against China’s growing control of the South China Sea and, to investigate this matter further, Shephard canvassed an international cross-section of Vietnam specialists for recommendations.
Vietnam to hasten welfare distribution VietnamNet 8th Aug 2017
The Ministry of Labor, Invalids and Social Affairs needs to set up a council to assess and define poor districts in order to support fast and sustainable poverty reduction, Deputy Prime Minister Vuong Dinh Hue said yesterday.
Vietnam third in attracting international acquirers - News VietNamNet VietnamNet 8th Aug 2017
Rich with investment opportunities and positive demographics, ASEAN continues to attract international acquirers according to the latest edition of Spotlight Asia, Kroll’s quarterly M&A newsletter, produced in association with Mergermarket.
Draft law doubles foreigners' realty ownership terms in Vietnam VnExpress International 7th Aug 2017
Vietnam’s government has expressed support for a new draft law that would give foreigners 99-year leaseholds on properties they buy in key investment areas.
FIEs’ ups and downs affect Vietnam’s economic index - News VietNamNet VietnamNet 7th Aug 2017
The Vietnamese economy is so reliant on the foreign-invested economic sector that any change in foreign invested enterprises (FIEs) can affect the economic indexes.
Vietnam’s exports to the US estimated at $40 billion this year VietnamNet 7th Aug 2017
Vietnam’s exports to the US estimated at $40 billion this year The Ministry of Industry and Trade (MoIT) has forecast that Vietnam’s exports to the US will hit 40 billion USD this year, according to the Industry and Trade newspaper.
Vietnam urged to reform IT training amid demand for workers VietnamNet 7th Aug 2017
The rapid changes of business fields ahead of the 4.0 industrial revolution are putting pressure on the labor market, causing a shift in training of human resources to keep up with technological trends.
In Vietnam, it's harder for college hopefuls to become a military officer than a doctor VnExpress International – Latest news, business, travel and analysis from Vietnam 7th Aug 2017
In Vietnam, it's harder for college hopefuls to become a military officer than a doctor. The results are in from this year's university entrance exams, and nearly 150 institutions across Vietnam have set their benchmark scores for admission, with some surprising results. Forget medical, economics or engineering schools, it is the armed forces that are demanding the highest grades.
Vietnam to increase minimum salary by 6.5 pct next year Xinhua 7th Aug 2017
Vietnam's National Salary Council on Monday decided that regional minimum salary in 2018 will increase by 6.5 percent against 2017, or each employee will receive additional 180,000-230,000 Vietnamese dong (8-10.1 U.S. dollars) a month.
Vietnam Learns Becoming a Tiger Economy Comes With a Cost Bloomberg.com 6th Aug 2017
Asia’s newest tiger economy is about to find out the cost of being a member of the club. Vietnam has more than doubled its gross domestic product over the past eight years, becoming a high performer in the world’s fastest-growing region. One consequence is it’s now well-enough off to be disqualified from getting development funding from international institutions on a “concessional” basis at well below market rates.
Vietnam looks to record foreign investment of $16bn Bangkok Post 4th Aug 2017
Vietnam forecasts disbursed foreign direct investment to rise to a record this year as the government steps up efforts to attract more manufacturing.
Is Vietnam Putting Itself At Risk In Bid To Hit Growth Targets? Frontera News 29th Jul 2017
Earlier in July, the State Bank of Vietnam sprang a surprise on markets by reducing the refinancing rate, rediscount rate, overnight electronic interbank rate, and rate of loans to offset capital shortage in clearance between the central bank and domestic banks by 25 basis points.
Foreign investment surges 52% vietnamnews.vn 28th Jul 2017
Việt Nam attracted US$21.93 billion in foreign direct investment (FDI) during the first seven months of this year, a surge of 52 per cent year-on-year, the highest rate since 2011, according to the latest Foreign Investment Agency statistics.
Vietnam Increases Oil Production Prensa Latina - Agencia Latinoamericana de Noticias 8th Aug 2017
The Vietnam Oil and Gas Group (PetroVietnam) produced 9,230,000 tons of oil in the first seven months of the year, accounting for $12.2 million revenues, according to official sources today.
The Price Of Power In Vietnam: Not All Dollars And Cents - Energy and Natural Resources - Vietnam mondaq 7th Aug 2017
It's clear that meeting Vietnam's substantial energy demands over the coming years is a tall order even in the best of circumstances. It is hoped that renewable energy sources will play a large part in the country's energy generation landscape, however, the dominance of large SOEs is blocking the entry of more efficient private operations and slowing down the pace of change.
Vietnam should speed up renewable energy development - News VietNamNet VietnamNet 7th Aug 2017
Vietnam should speed up renewable energy development Vietnam should develop renewable energy sources in a timely manner in order to meet the rising demand for electricity in the years to come, according to industry watchers.
Việt Nam needs to develop renewable energy vietnamnews.vn 7th Aug 2017
Associate Professor Nguyễn Minh Duệ, chairman of the Việt Nam Energy Science Council speaks to Tuổi trẻ (Youth) newspaper about the need to develop renewable energy in Việt Nam.
Vietnam plans to sell 34.7 pct stake in major power firm The Times of India 27th Jul 2017
Vietnam plans to sell a 34.7 percent stake in power producer Vinacomin Power Holding Corp , worth about 3.3 trillion dong ($145.4 million), the government said on its website on Thursday.
Legal framework, roadmap needed for Việt Nam’s wind power vietnamnews.vn 31st Jul 2017
Food & Agriculture
Việt Nam needs to develop a legal framework and feasible roadmap to turn its wind energy potential into reality, which will help to meet the country’s rapidly rising electricity demand, experts have said. Tobias Cossen, head of GIZ’s project on supporting the up-scaling of wind power said that Việt Nam has great potential to develop wind power as the country possesses around 3,000 km of coastline with excellent wind conditions. The Vietnamese government has approved several programmes to encourage the development of renewable energy in the country. As many as five wind farms with total capacity of almost 200MW are currently in operation. More than 50 other projects are in the construction and planning phase. However, a number of regulatory and market barriers as well as the lack of capacity have been identified as obstacles for investors in wind projects, according to Cossen. Specifically, the major challenge for wind power investment is the Feed in Tariff (Fit) of 7.8 US cent/kWh, which is too low for investors to overcome the perceived risks for wind power development.
Vietnam to ban antibiotics in livestock farming - News VietNamNet VietnamNet 8th Aug 2017
Vietnam will impose a ban on all kinds of antibiotics in livestock farming after 2020, and those currently used in animal feed are only allowed until the end of this year, said Hoang Huong Giang from the Livestock Production Department under the Ministry of Agriculture and Rural Development, Thanh Nien reported.
Vietnam pushes up fruit exports - News VietNamNet VietnamNet 7th Aug 2017
Export Service Trading Co Ltd last week exported its first batch of fresh coconuts to the US, which is considered to be a difficult market.
Tuna export revenue surges 21% vietnamnews.vn 7th Aug 2017
Việt Nam’s tuna export turnover has risen 21 per cent year-on-year to hit US$271 million in the first half of 2017.
Vietnam removes cap on milk retail prices - Xinhua | English.news.cn Xinhua 3rd Aug 2017
Milk traders in Vietnam will be allowed to self-determine retail prices of products from Aug. 10, the Vietnamese Ministry of Industry and Trade announced Thursday.
Hi-tech agriculture: a solution and a challenge vietnamnews.vn 2nd Aug 2017
Việt Nam has become known for its remarkable feat in becoming an agricultural powerhouse in a relatively short time, but it seems that the benefits accrued to farmers are not commensurate with the country’s comparative advantages and efforts. Far reaching agricultural reforms over the past 30 years have provided farmers with ‘catalysts’ and motives to produce and earn their living in a market-driven, open economy, becoming self-reliant in the process. These reforms have enabled significant achievements in export, food security and poverty reduction. However, recent studies have shown that agricultural growth has been slowing down and that added value created in the sector as well as benefits to farmers do not match the efforts made. About 24 million workers, i.e. 25 per cent of the country’s population or about 45 percent of the country’s labour force, are engaged in agricultural production, but the sector has only contributed roughly 17 per cent of the nation’s gross domestic product (GDP) and this has been decreasing for many years now.
Demand for VN rice to be stable in Q3 Vietnam Net 31st Jul 2017
Demand for Vietnamese rice is expected to be stable in the third quarter of the year, Vietnam Food Association (VFA) Chairman Huynh The Nang has said.Thus, rice traders will not have to worry about finding consumption markets, he added. The chairman made the statement after Vietnamese rice enterprises won contracts to supply 175,000 tonnes (MT) of rice to the Philippines through an open tender held by the country’s National Food Authority (NFA) on July 25. According to the association, in the bidding for 2-per cent broken rice export to the Philippines, four Vietnamese traders totalled 175,000 tonnes in the tender at different winning prices.
Agro-forestry-aquatic exports hit $20.45b in 7 months Vietnam Net 30th Jul 2017
The export value of farming, forestry and aquatic products gained a year-on-year increase of 14.7 per cent, to US$20.45 billion, in the first seven months of this year, according to the Ministry of Agriculture and Rural Development. The export value of farming, forestry and aquatic products gained a year-on-year increase of 14.7 per cent, to US$20.45 billion, in the first seven months of this year. Key farm produce raked in $10.89 billion, up 18 per cent while forestry products brought home $4.41 billion, up 10.8 per cent. The US, China and Japan were the three largest export markets of Viet Nam’s timber and timber products in the first half of this year, accounting for 70.2 per cent of total exports of those products. The markets with strong growth in timber export value included China (29 per cent), Canada (21.8 per cent), the US (18.7 per cent), Germany (10.6 per cent) and South Korea (9.2 per cent).
Việt Nam’s corn imports to continue vietnamnews.vn 28th Jul 2017
Việt Nam imported 3.53 million tonnes of corn in the first half of this year, up 5.6 per cent over the same period last year, according to the Crop Production Department. Last year 8.5 million tonnes had been imported, a year-on- year increase of 9.5 per cent, with Argentina, Brazil accounting for 47.2 per cent and 41.2 per cent of the imports. The imports this year are expected to match last year’s, the department said. The area under corn in Việt Nam reached 1.15 million hectares last year, with output being 5.24 million tonnes, the department said. According to the Institute of Policy and Strategy for Agriculture and Rural Development (IPSARD), about eight million tonnes, mostly from imports, are used every year to produce animal feed. The rest is directly used for food, food processing and producing bio-energy, it said.
4G network covers 95% of Vietnam's population - News VietNamNet VietnamNet 8th Aug 2017
4G network covers 95% of Vietnam's population Some 43,000 4G BTS stations have been deployed nationwide, covering 95 per cent of Vietnam’s population, the 4G LTE 2017 International Conference, organized by the Vietnam Internet Association in cooperation with the IDG International Data Group Vietnam on July 27, was told.
4G forecast to boom in Vietnam this year - VietnamNet 7th Aug 2017
Fourth generation (4G) mobile phone services are expected to see a strong development in the country this year, accelerating the completion of national programmes such as e-Government, Smart City and Smart Agriculture, said Pham Hong Hai, deputy minister of Information and Communication (MIC).
Vietnam to tighten cyber protection The Daily Star 7th Aug 2017
Vietnam plans to tighten its grip on the internet via a censorship system to block and prevent personal computers from receiving misleading information.
Vietnam’s tale of two metros built by the Japanese and the Chinese South China Morning Post 30th Jul 2017
Delays and cost overruns are to be expected as the nation tries to recreate the transportion systems of its two largest cities, but accidents and mistakes on the Chinese-led project are feeding into some longstanding prejudices
Vietnam considers making electric cars - News VietNamNet VietnamNet 8th Aug 2017
Foreign investors are planning to make electric cars in Vietnam, but the infrastructure for electric car development is poor, with no charge stations.
Analysis: Vietnam is poised to produce Recycling Today Global Edition 1st Aug 2017
The five-decades-old Vietnamese steel industry has caught the attention of one and all in the steel sector with its spectacular growth over the past few years, growing at a rate of 21.64 percent between 2013 and 2016.