Multi-dollar tax evasion discovered in import companies
A number of enterprises have taken advantage of technology used for tax collection to avoid paying taxes.
Tokyo Gas acquires stake in PetroVietnam subsidiary
Tokyo Gas, through its subsidiary Tokyo Gas Asia, has acquired a stake of 24.9% in PetroVietnam Low Pressure Gas Distribution (PVGas D) for an undisclosed price.
— Energy Business Review
JETRO connects food and agriculture enterprises
The number of Japanese restaurants has been rapidly increasing in the two major cities of Hanoi and Ho Chi Minh City in recent years as domestic food consumption becomes more diversified.
— Vietnam Economic Times
Short supply of Euro 4 fuel exacerbates pollution in Vietnam
While most cars in Vietnam are running on Euro 2 standard fuel, a new law effective January 1 mandates that all new automobiles in Vietnam, both imported and domestically assembled, must use petrol meeting the Euro 4 standard.
— Tuoi Tre News
Vietnam targets 16 bankers in latest crackdown
Vietnam issued arrest warrants for 14 bankers and took two more into custody on Tuesday after accusing them of causing losses totalling hundreds of millions of dollars in the scandal-tainted sector.
— Geo News
South Korean convenience stores move into Vietnam, Iran
South Korea’s two largest convenient store operators are reaching into Vietnam and Iran, seeking to exploit fast-rising consumer power in the emerging countries amid growing competition in the domestic markets.
— Nikkei Asian Review
Vietnam’s National Assembly supports stronger economic ties with US
The National Assembly (NA) of Vietnam always backs stronger economic and trade cooperation with the US and facilitates the adoption of legal regulations to create a transparent and favourable business environment for foreign businesses, including those from the US.
Vietnam’s retail sales jump to $74bln in first 7 months
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.
Choosing an Effective Entry Model for Vietnam Investments – New Publication From Vietnam Briefing
Choosing an Effective Entry Model for Vietnam Investments, the latest publication from Dezan Shira & Associates, is out now and available for complimentary download through the Asia Briefing Publication Store.
— Vietnam Briefing
Vietnam, Sri Lanka to facilitate bilateral business activities
Vietnam and Sri Lanka will provide favourable conditions for their enterprises to seek business and investment opportunities, senior diplomats have said.
FPG still seeking new partners in Vietnam steel plant project
Formosa Plastics Group, one of the leading conglomerates in Taiwan, said Tuesday that it is still in the process of finding partners to jointly invest in the improvement and expansion of its steel plant in Vietnam, which reopened earlier this year after months of inactivity due to a toxic waste spill in 2016.
— Focus Taiwan
Vietcombank launches new promotional campaign
On the occasion of National Day on September 2, Vietcombank will offer its card holders free-of-charge services relating to debit cards and credit cards from August 1 to September 30.
— Viet Nam News
Viettel launches 4G in Timor Leste
Telemor, Viettel’s subsidiary in Timor Leste, has become the first mobile service provider to operate a 4G network in the country.
— Viet Nam News
Ministry urges Thach Khe Iron Mine termination
Thach Khe Iron Mine Project covers 3,877 hectares was approved in 2007. The Thach Khe Iron JSC was then set up with VND2.40trn (USD105m) charter capital. However, the project was largely inactive and work was suspended in 2011.
— VietnamNet Bridge
Vietnam gives power monopoly the power to hike prices
Depending on cost changes, EVN will be allowed to raise prices by up to 10 percent every six months without seeking gov’t approval.
Smart technology in the spotlight in Hanoi
Vietnam has a solid foundation for information technology but must constantly strive to be globally competitive, Hajime Hotta, co-founder of Innovatube and president of Cinnamon AI Labs, said at the Hanoi technology event at the weekned.
Investment flow into Phu Quoc Island remains strong
Apart from these nine projects, which cover 64.38 hectares in the island district, the board proposed the provincial government of Kien Giang to give approval in principle to 16 other projects which need 476 hectares of land.
— VietnamNet Bridge
As online sales boom, fast-delivery services thrive
Many businesses, from startups to big express delivery firms, have jumped into the market of fast delivery services for online shops.
— Vietnam Times
VinaCapital arm makes final divestment
Vietnam Infrastructure Limited (VNI), the AIM-quoted investment vehicle established by VinaCapital to target infrastructure and related investments in Vietnam, has announced it has successfully divested 100 per cent of its stake from its last remaining asset, the in-building cellular enhancement systems (IBS) in Southeast Asia Telecommunications Holding Pte Ltd (SEATH).
— Vietnam Economic Times
Quang Tri province attracts more than 300 projects to local industrial parks
The central province of Quang Tri has to date licensed 316 projects in its industrial parks and economic zones with a capital totalling nearly VND68.5 trillion (US$3 billion).
— Nhan Dan
Feature photo Asian Development Bank
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.
She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018