Vietnam Morning News For August 7

Hyundai Engineering wins $320 mln order to build industrial plant in Vietnam
South Korea’s Hyundai Engineering said Sunday that it has won a US$320 million order to build facilities at a Vietnamese petrochemical complex.
— Yonhap News

3.3% of Vinamilk on sale in October
After failing to sell the full 9 per cent of the Vietnam Dairy Products JSC (Vinamilk) put up for sale late last year, the government is now putting 48.333 million shares, or 3.3 per cent of charter capital, up for sale in October.
— Vietnam Economic Times

Vincom Retail plans $600 million IPO
Vincom Retail, the Vietnamese mall operator under the property and retail conglomerate Vingroup JSC, plans to launch its initial public offering (IPO) this year, according to Bloomberg.
— VietnamNet Bridge

Viettel well set to tap AEC potentials
The giant of telecom in Việt Nam, Viettel, has achieved major success after 10 years of investment in foreign countries, including ASEAN. On the occasion of ASEAN’s 50th anniversary, Lê Đăng Dũng, Viettel’s Deputy General
Director talks with Việt Nam News reporter Vũ Hoa about the group’s contributions to their overseas markets in general and the regional community in particular.
— Viet Nam News

Graduates’ jobless rate due to low qualifications, high expectations
A job day recently organized by the HCMC Student Support Center attracted thousands of bachelor’s degree graduates. About 5,000 jobs were offered on the day, from high-ranking managers and technical officers to salespeople and assistants. However, many graduates still returned empty-handed.
— VietnamNet Bridge

FDI firms to get unexpected inspections
Firms operating in Viet Nam with foreign direct investment (FDI) will be subjected to regular and sudden examinations by appropriate Vietnamese authorities of their financial assets, according to the recently issued Decision 1381/QÐ-BTC by the Ministry of Finance (MoF).
— VietnamNet Bridge

Mobile World to spend $111m on MA deals
Mobile World Corporation, one of the biggest mobile phone and accessory retailers in Viet Nam, is preparing to take over local electronics and pharmacy retail firms for VND2.5 trillion (US$111.1 million).
— VietnamNet Bridge

Measures to promote exports of vegetables and fruits
Vegetables and fruit continue to be a bright spot in the field of agricultural exports during the first seven months of 2017. According to the Ministry of Agriculture and Rural Development (MARD), the total export value
of agricultural, forestry and fishery products reached US$20.45 billion between January and July, in which fruits and vegetables alone accounted for US$2.03 billion – an increase of 49% over the same period in 2016.
— Nhan Dan

HCM City: Individually owned business more than double
Ho Chi Minh City has received more than 80 percent of questionnaires from enterprises, the highest rate in recent years, after four months of gathering data for the first phase of the 2017 economic census.
— VietnamNet Bridge

Only 15 foreigners, Viet Kieu own houses in Ho Chi Minh City
The reality is in stark contrast with a government decree and new housing laws enacted in 2015, which relaxed requirements for foreigners to own properties in Vietnam.
— Tuoi Tre News

Shahriar for more business to business contacts with Vietnam
State Minister for Foreign Affairs M Shahriar Alam stressed on more business to business contacts between Bangladesh and Vietnam.
— The Financial Express

Construction ministry to revaluate unlicensed buildings
Hung also stressed, at a press meeting in Ha Noi on Thursday, that the country is estimated to have around 60,000 types of licences for both small and large-scale real estate projects, and the number of construction projects that violate regulations on licensing permissions have decreased annually. In the past five years, this rate went down by around 10 to 20 percent, he added.
— VietnamNet Bridge

Vietnamese beers join 21st Berlin Beer Festival
Hanoi and Saigon beers joined 2,400 other kinds of beers around the world at the 21st Berlin International Beer Festival in Berlin, Germany from August 4-6.
— VietnamPlus

BSR wants guaranteed loan for oil refinery upgrade
Binh Son Refining & Petrochemical (BSR) is seeking a $1.26 billion government-guaranteed loan out of the total $1.8 billion needed to upgrade the Dung Quat Oil Refinery.
— VietnamNet Bridge

Vietnam pledges to promote Investing in Women Initiative
The Government of Vietnam has attached importance to and implemented numerous concrete measures to promote gender equality and women empowerment, Foreign Minister Pham Binh Minh said at a seminar in the Philippines on August 6.
— VietnamPlus

Mitsubishi recalls 4,200 SUV units
Mitsubishi Motors Vietnam (MMV) is recalling 4,218 Outlander Sport and Pajero Sport units, which were found to have malfunctioning rear hatchdoors.
— Bizhub

Special economic zones should enjoy special rules: PM
Prime Minister Nguyen Xuan Phuc agreed in principle that the three special economic zones being planned by the Government to spearhead the country’s economic growth should enjoy special regulations and fewer limitations to
woo investments.
— VietnamPlus

Workshop backs SMEs in loan access, payment in foreign trade
A workshop took place in northern Hai Phong city on August 4 to provide information on loan access and methods of payment in international trade for small- and medium-sized enterprises (SMEs).
— VietnamPlus

Feature photo ILO in Asia and the Pacific
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.