Vietnam Morning News For July 20

Mekong Delta faces troubling sand shortage
Provinces in the Mekong Delta have run out of sand for construction at a time when many key infrastructure works are in progress.
– Viet Nam News

Can Tho seeks investors in 27 projects
Can Tho city is calling for investment in 27 projects worth a total of $1.4 billion, according to the Mekong Delta city’s Investment and Trade Promotion Center.
– Vietnam EconomicTimes

Việt Nam to have more wholly foreign-owned bank
The State Bank of Việt Nam (SBV)’s Governor Lê Minh Hưng on Wednesday gave approval in principle to the Singapore’s United Overseas Bank Limited (UOB) to open a 100-per cent foreign owned bank in Việt Nam.
– Viet Nam News

PM pushes SBV to achieve robust growth target
Prime Minister Nguyễn Xuân Phúc has urged the State Bank of Việt Nam (SBV) to take more comprehensive and bold measures to boost credit growth and reduce interest rates.
– Viet Nam News

VPBank receives $57mn loan from IFC
The International Finance Corporation (IFC), the private equity arm of the World Bank Group, has provided a $57 million convertible loan to the Vietnam Prosperity Joint Stock Commercial Bank (VPBank).
– Vietnam EconomicTimes

Vietnam’s Nghi Son refinery to import its first Kuwaiti crude cargo
Vietnam’s Nghi Son Refinery and Petrochemical LLC (NSRP), the owner of the country’s second oil refinery, has chartered a supertanker to carry crude from Kuwait in a sign that the behind-schedule project may soon begin startup operations.
– VnExpress

Vietnam province says yes to new hydropower plants in rumbling earthquake zone
The local legislature in the central province of Quang Nam on Wednesday approved a plan to build four new hydropower plants in a district that has been constantly hit by earthquakes.
– VnExpress

China’s outdated coal thermal power technology sold in Vietnam
China’s policy on exporting its coal thermal power technology has raised concerns among environmentalists, who say Vietnam could become the destination for the outdated technology.
– Vietnam Times

EVN reports enough power to meet dry season demand
National power utility Electricity of Vietnam (EVN) says increased production and decreased transmission loss will allow it to meet power needs in the 2017 dry season.
– Viet Nam News Bizhub

South Korea now Vietnam’s 2nd largest trade partner
South Korea has surpassed the US, the EU, and ASEAN for the first time to become Vietnam’s second-largest trade partner.
– Vietnam EconomicTimes

Whopping rise in steel imports from India
Steel imports from India posted a whopping increase in the first six months of this year, customs’ statistics revealed.
– Viet Nam News Bizhub

US largest export market for VN’s footwear, bags
The United States (US) has been the largest export market for Vietnamese footwear, bags and suitcases in the first five months of 2017, the General Department of Customs said.
– Viet Nam News Bizhub

Aquatic, farm produce exports to Netherlands on the rise
Vietnam’s aquatic product exports to the Netherlands enjoyed a substantial jump of 15.4 percent to 101 million USD in the first half of the year, paving the way for the shipment growth in the European market.
– VietnamPlus

Vietnam, Guangdong, Hong Kong firms seek business opportunities
A seminar on economic and trade cooperation between Vietnam and Guangdong-Hong Kong (China) took place in Hanoi on July 19, attracting senior officials from 14 Vietnamese cities and provinces and nearly 200 businesses from both sides.
– VietnamPlus

Luxury segment booms despite very high prices
The quick sale last week of Titia Residences in the Empire City project has again borne out the attractiveness of the luxury segment.
– VietnamNet Bridge

Vietnamese support industry sees big improvements
Many electronics and engineering companies have become first-class suppliers for foreign-invested enterprises (FIEs) in Vietnam.
– VietnamNet Bridge

VN could be major AI market: experts
Although Viet Nam is a relative late comer to the Fourth Industrial Revolution, it can be confident of catching up if it adopts correct policies and measures, Nguyen Anh Tuan, CEO of the Boston Global Forum, told the Viet Nam CEO summit in Ha Noi on Tuesday.
– Viet Nam News Bizhub

Domestic retailers face challenges
Domestic retailers are facing a lot of challenges and losing market share to foreign rivals due to limited capital, scale and governance skills.
– VietnamPlus

Viettel IDC to introduce private cloud designed on Fujitsu infrastructure
Viettel IDC agreed to terms with Fujitsu on July 19 in Ho Chi Minh City to introduce private cloud products that are created in Fujitsu’s server infrastructure.
– Vietnam EconomicTimes

FLC Do Son complex green lit
The government have given in principle approval to the FLC Group building the FLC Do Son complex.
– Vietnam EconomicTimes

Energy-savings exhibition opens in HCM City
Some 170 companies from Viet Nam and other countries are showcasing their latest technologies and products at around 300 booths at the 10th International Exhibition on Electrical Technology and Equipment (Viet Nam ETE 2017) and the 7th International Exhibition on Products, Technologies of Energy Savings and Green Power (Enertec Expo 2017) in HCM City.
– Viet Nam News Bizhub

Lao provinces organise HCMC investment conference
Three central Laos provinces, Savannakhet, Khammouane, and Bolikhamxay, sought investment in many sectors at a conference held in HCM City on Wednesday.
– Viet Nam News

Feature photo Thorsten Martens
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