Vietnam Morning News For August 17

Vietnam Morning News For August 17

Vietnam morning newsFinance Ministry proposes new tax on pickups
The Ministry of Finance has proposed that the Government apply a special consumption tax on pickups to be set at 60 percent of the tax on cars with nine seats or less with similar engine displacement, a move that would sharply increase their costs.
— VietnamPlus

Vietnam spends nearly $1.7 billion on corn import every year
The figures represented increases of 9 percent in volume and 11 percent in value compared to the same period last year.
— VietnamNet Bridge

Cost of flying set to rise as Vietnam hikes airport service fees
Airlines are unlikely to bear the brunt of the additional cost they will have to pay for using the country’s airports.
— VnExpress

Bình Dương supports investors
Authorities in the southern province of Bình Dương and the representatives of South Korean companies operating in the province met on Wednesday to resolve difficulties faced by businesses in the area.
— Viet Nam News

Businesses’ fear of failure stifles startup culture
The government in 2014-2015 gradually restored business confidence, helping reduce the ‘fear-of-failure’ index to 45.6 percent in 2015.
— VietnamNet Bridge

Red Wok launches beef hotpot chain in HCMC
Red Wok has officially launched its Lau Bo Sai Gon Vivu chain, with a first outlet at Vincom in Ho Chi Minh City’s District 9. It also opened its first Wrap & Roll restaurant in Shanghai on July 12.
— Vietnam Economic Times

Advice for FDI firms on distribution rights
Enterprises with foreign-owned capital (even one per cent) need to register distribution rights before trading goods purchased from other Vietnamese organisations or imported into the country.
— Viet Nam News

Trade surplus returns in second half of July
Vietnam posted a trade surplus of nearly 430 million USD in the second half of July, after many consecutive months of deficit.
— VietnamPlus

PM urges aviation industry to tighten security
Prime Minister Nguyễn Xuân Phúc has urged the aviation industry to tighten security and safety as they are important issues currently.
— Viet Nam News

Saigon lottery firm fails to match the numbers as profit plunges to 5-year low
Vietnam’s state-run lottery companies have been bleeding red ink over the past year following the launch of an American-style rival that offers significantly bigger prizes.
— VnExpress

Minh Phú Seafood sees profit up 34 times
Minh Phú Seafood Corporation (MPC) recorded a post-tax profit of VNĐ101.4 billion (US$4.54 million) in the second quarter of this year, 34 times higher than the same period last year and the highest level in the last eight quarters, online newspaper Infonet.vn reported.
— Viet Nam News

Elderly need community-based care, experts urge
Sustainable long-term, community-based care that provides health care, nursing care, housing and livelihood support for the elderly is vitally important for Việt Nam and other countries with aging populations, experts said yesterday at a forum held in HCM City.
— Viet Nam News

CJ Group eyes Vietnamese food market
According to the Korea Times, the return of president Lee Jae-hyun after four years of absence has spurred CJ’s expansion overseas, with a plan to obtain revenue of 100 trillion won, or $89.7 billion, by 2020.
— VietnamNet Bridge

PV Power raises share-for-sale IPO ratio to 20 percent
The PetroVietnam Power Corporation (PV Power), the country’s second-biggest power provider, will offer 20 percent of its total shares for sale at an initial public offering (IPO) in December.
— VietnamPlus

Mekong Capital invests 4.9 million USD in education
The Mekong Enterprise Fund III under Mekong Capital has invested 4.9 million USD in YOLA Education JSC (YOLA) for a minority stake.
— VietnamPlus

Naticorp signs condotel project agreement with Thai firm
Nam Tien Lao Cai Corporation (Naticorp) and Thailand’s InVision Hospitality signed a management agreement for the Scenia Bay condotel project in Nha Trang City on Tuesday.
— Bizhub

Savills: Opportunities in underground urban planning
The construction and development of underground urban areas is an indispensable trend in modern urban development, according to Savills Vietnam. In the case of Ho Chi Minh City, the consultancy firm emphasizes the potential for real estate segments to be formed in underground areas.
— Vietnam Economic Times

Domestic digital content firms ask for fair policies
Local digital content firms are claiming of unfair treatment compared to their foreign peers, with Vietnamese companies saying they face many regulations while firms like Google, Facebook and YouTube don’t pay taxes and are unhindered by regulations and policies.
— Viet Nam News

Businesses have to contend with a “forest” of sublicenses
After July 2016, when the Investment and Enterprise Laws took effect, many unreasonable sublicenses were abolished, paving the way for 110,000 businesses to emerge.
— VietnamNet Bridge

City firms fear plan to extend mini-truck ban
With HCM City authorities considering an increase in the number of hours that mini trucks are banned in the inner city, businesses are worried about its fallout.
— Bizhub

Dinh Vu Polyester Fibre Plant to restart production
The Vietnam National Oil and Gas Group (PetroVietnam), holding 75 percent of the capital at the 325-million USD plant, held a meeting recently with the Vietnam National Textile and Garment Group (Vinatex) to discuss a fibre consumption solution for the plant.
— VietnamNet Bridge

 

Feature photo imke.stahlmann
Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

 

Vietnam morning news by AEC News Today is your one stop source for Vietnam news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies, not politics.

 

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Sreypov Men recently completed a course of study in International Relations at the Institute of Foreign Languages.

She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018

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