Vietnam Morning News For July 11

Large corporations rush to lift foreign ownership ratio limit
A number of leading corporations have lifted the foreign ownership ratio limit after the government issued Decree 60.
– VietnamNet Bridge

Facebook business must pay five per cent revenue tax
Small and home-based business owners who use the Facebook platform to sell products and have revenue of more than VND100 million (US$4,500) per year will be taxed at five per cent.
– Viet Nam News Bizhub

Saigon’s housing market hits highest sales since 2011 bubble crisis
Ho Chi Minh City saw a strong performance in the apartment business in the second quarter this year, thanks largely to the affordable segment.
– VnExpress

Central Bank cuts rates by 0.25-0.5 per cent
The State Bank of Việt Nam (SBV) has cut several interest rates for the first time since 2014 in order to support business and boost economic growth.
– Viet Nam News

NPC signs VND515 billion loan
Northern Power Corporation under Electricity of Viet Nam (EVN NPC), signed a syndicated loan agreement worth VND515 billion (US$22.7 million) last week for the period of seven years.
– Viet Nam News Bizhub

Shrimp export up nearly 16 pct in first half
Vietnam earned 1.56 billion USD from shrimp exports in the first half of this year, up 15.7 percent annually, according to the Vietnam Association of Seafood Exporters and Processors (VASEP).
– VietnamPlus

All catfish shipments to US subject to examination
All batches of products made from Siluriformes fish supposed to be shipped to the US will have to undergo food safety tests from August 2, 2017 instead of September 1, 2017, according to the National Agro-Forestry-Fisheries Quality Assurance Department (NAFIQAD) under the Ministry of Agriculture and Rural Development
– VietnamPlus

Fishery output hits 1.6 million tones in H1
Vietnam’s fishery output in the first half of this year reached 1.6 million tonnes, up 4.8 percent against the same period last year and fulfilling 54.8 percent of the yearly target.
– VietnamPlus

Industrial manufacturing index up in six months
Vietnam’s industrial manufacturing index increased by about 8.6 percent in June, the General Statistics Office (GSO) has announced.
– VietnamPlus

Here are Southeast Asia’s next big car manufacturing hubs
Vietnam will emerge as the second fastest-growing production hub for cars in Southeast Asia after the Philippines between 2017 and 2021, according to BMI Research, a part of Fitch Group.
– VnExpress

Steel firms’ revenue positive
The Vietnam Steel Corporation (VNSTEEL)’s Deputy Director Nguyen Trong reported that most steelmaking companies turned a profit in the first two quarters of 2017, despite difficulties in March and April.
– Viet Nam News Bizhub

Tour operators to involve more in tourism training
Deputy Prime Ministy Vu Duc Dam had a meeting with representatives from tourism businesses and tourism training institutions on July 6at the Government Office.
– Hanoitimes

Hanoi property market sees lower Q2 sales
Apartment sales in Hanoi declined in the second quarter, while their supply increased in the first half of the year, a new report says.
– VietnamPlus

Bến Tre charms investors with a helping hand
The Cửu Long (Mekong) Delta province of Bến Tre cannot compare with south-eastern provinces such as Bình Dương and Đồng Nai in terms of investment conditions or geographical advantages, but it has attracted investors by helping them every step of the way, the director of the province’s Department of Planning and Investment (DPI) Nguyễn Minh Cảnh said.
– Viet Nam News

Long An pledges help for Taiwan firms
Long An Province will direct relevant agencies to remove bottlenecks for businesses, including those from Taiwan, Tran Van Can, Chairman of the provincial People’s Committee said at a dialogue with Taiwanese enterprises last week.
– Viet Nam News Bizhub

Government bonds become darling of foreign investors
Recently government bonds have seen strong foreign buying despite the facts that the dollar is expected to continue appreciating due to the US’s plan to raise interest rates a few more times in the near future and that Viet Nam does not have incentives to attract foreign investment in its bonds.
– VietnamNet Bridge

Privately run hospitals still cannot make profit
Very few privately run clinics in Vietnam can make a profit, and after several years of operation, many have shut down.
– VietnamNet Bridge

YouTube removes 3,000 clips with bad content in Viet Nam
Working with Vietnamese authorities, YouTube and Facebook have removed 3,000 clips and over 600 accounts deemed inappropriate or slanderous toward Vietnamese individuals and organisations.
– Viet Nam News Bizhub

Vietnam officials seize 3 tonnes of ivory hidden among fruit
Vietnamese authorities have found and seized nearly three tonnes of ivory hidden among boxes of fruit, officials said yesterday, the latest haul to spotlight the country’s key role in the global wildlife smuggling trade.
– Fresh Plaza

Where’s Vietnam in the global value chain?
Ten years ago, the risk for Vietnam was that it might miss the glbal ‘integration train’. Today, the question is where is Vietnam in that train?
– VietnamNet Bridge

Vietnam’s deputy defense minister on why military must engage in business activities
The Vietnamese military needs to get involved in business activity, but the scope of it is larger than the public may understand, Deputy Minister of Defense Nguyen Chi Vinh has said.
– Vietnam Times

Feature photo ILO/ Nguyễn Việt Thanh
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