Vietnam Morning News For July 10

VN joins Inclusive Framework to fight tax avoidance
Viet Nam has become the 100th member to join the Inclusive Framework (IF) on Base Erosion and Profit Shifting (BEPS), the General Department of Taxation announced.
– Viet Nam News Bizhub

Foreign banks on trend to exit Vietnam
Several foreign banks have exited Vietnam or narrowed operations in the Southeast Asian country, against early expectations that they would soon eat into the market shares of local lenders.
– Tuoi Tre News

MoIT plans out transition to bio-fuel
The Ministry of Industry and Trade on Thursday worked with petrol wholesalers on the roadmap to replace RON 92 petrol with E5 bio-fuel from 2018.
– Viet Nam News Bizhub

Ho Tram inks $63m power plant agreement
Ho Tram Project Company (HTP) and PetroVietnam Low Pressure Gas Distribution Joint Stock Company (PVGasD) signed a Memorandum of Understanding (MoU) to build a co-generated power plant worth US$63 million for Ho Tram’s own projects.
– Viet Nam News Bizhub

Viet Nam, Germany target US$20b bilateral trade
Prime Minister Nguyen Xuan Phuc expressed hope that Germany, as the largest economy and an influential member of the European Union (EU), will help attract global resources into Viet Nam.
– Viet Nam News Bizhub

Vietnamese & German firms sign cooperation agreements worth over $1.7bn
As the largest economy and an influential member of the EU, Germany can help attract global resources into Vietnam, PM tells business forum in Berlin.
– Vietnam EconomicTimes

Shrimp exporters told to improve methods
If the shrimp industry does not change it will be unable to export and will also need to be rescued like its pork, dragon fruit and watermelon counterparts, a seminar on establishing a disease-free shrimp production chain for export heard in HCM City on July 5.
– Viet Nam News Bizhub

VN building management firms forced to improve
The rapid urbanisation of Việt Nam, together with a boom in the number of high-rise buildings, is pushing local building management firms to be more professional in order to compete with foreign rivals.
– Viet Nam News

Retail market booms, but eventual winners unclear
The foreign retail brands which have entered the Vietnamese market recently are all powerful and experienced, but it is too early to say who will thrive.
– VietnamNet Bridge

Restaurant industry starts 2017 on sour note
The restaurant industry in the three largest cities of Vietnam struggled with weak sales and traffic throughout the first quarter of 2017, according to a report by Decision Lab, a marketing research company based out of Ho Chi Minh City.
– VietnamNet Bridge

Resort real estate in Hanoi suburbs: untapped gold mine
The resort market segment in Hanoi remains untapped and awaits strong investments.
– VietnamNet Bridge

Hanoi to impose parking space rules for high-rises
The Hanoi People’s Committee has proposed regulations related to underground parking space in high-rises to the municipal People’s Council, which will be approved in a meeting in July.
– VietnamPlus

Ha Noi eyes fresh fruit market
Ha Noi’s municipal Department of Industry and Trade is implementing a pilot project to enhance the management of fresh fruit stores in the downtown districts of the city.
– Viet Nam News Bizhub

Quang Ninh lures additional 47 million USD of investment
The northern province of Quang Ninh drew in more than 47 million USD in foreign direct investment (FDI) in the first six months of 2017.
– VietnamPlus

Binh Dinh’s fishermen seize opportunity to develop tourism
The central coastal province of Binh Dinh has witnessed robust growth of tourism in the last three years. Given the influx of visitors, many fishermen in some coastal villages have turned to tourism.
– VietnamNet Bridge

Vietnam customs to tighten baggage security
Customs officials at all airports and seaports in the country will strengthen supervision and inspection of all goods, luggage and cargo transported via the ports, an official said.
– VietnamPlus

Excellent tourism businesses honoured
The Vietnam National Administration of Tourism (VNAT) and the Vietnam Tourism Association (VTA) held a ceremony in Hanoi on July 8 to honour leading tourism businesses in 2017.
– VietnamNet Bridge

Experts warn against excessive titanium mining in south-central Vietnamese province
Experts have warned that excessive mining could lead to the disappearance of titanium from Vietnam, for the resource is not abundant as many have thought.
– Tuoi Tre News

High number of perfect scores no cause for concern: Education Ministry
The Education Ministry yesterday defended the surprising surge in the number of perfect scores in the latest national high school examination results saying they were concentrated in traditionally studious areas.
– VietnamNet Bridge

Government commitment for startups companion: prerequisite for success
The Government ‘s commitment to facilitate and support start-up companies has fired off a wave of startup businesses.
– Hanoitimes

Into the woods: Vietnam’s poor high school grads talk factories, foreign work programs and debt
Many are asking what’s the point of a degree when it doesn’t guarantee a job and leaves them in massive debt.
– VnExpress

Vietnamese say Hague verdict should be noted in South China Sea conduct code
ASEAN should include the Permanent Court of Arbitration (PCA)’s verdict on the South China Sea and international law in the code of conduct being drawn up for the contentious maritime region, Vietnamese scholars and officials said.
– The Nation

Feature photo ILO/ Nguyễn Việt Thanh
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