Vietnam Morning News For July 31

Vietnam Morning News For July 31
Estimated Reading Time: 5 minutes |

Vietnam morning newsVietnam’s PM sets up new economic advisory board
The 15 members will advise the Prime Minister on long-term strategies and policy changes in difficult times.
— VnExpress

New wave of billion-dollar FDI projects hits Vietnam
On July 25, Korean Lotte Group and the Ho Chi Minh City People’s Committee signed a contract to construct Eco-Smart City in Thu Thiem New Urban Area.
— VietNamNet Bridge

Vietnamese firm to grasp opportunities from AEC
The ASEAN Economic Community has existed for two years, yet there are few signs of Vietnamese enterprises in this marketplace. This was the opinion of many participants in the seminar held recently in Hanoi as part of activities to mark the 50th anniversary of ASEAN.
— VietnamPlus

Second Vietnam Private Sector Forum set for July 31
The second Vietnam Private Sector Forum (VPSF) will be held in Hanoi on July 31, chaired by Prime Minister Nguyen Xuan Phuc and attended by leaders from the government, departments, international organizations, and business associations.
— Vietnam Economic Times

Vietnam plans to spend over $6 bln for crude oil, fuel storage
Vietnam plans to spend more than US$6 billion to build a strategic petroleum reserve and to expand commercial storage for crude oil and oil products by 2025, according to a document reviewed by Reuters.
— VnExpress

Trat SEZ pinned as border hub
Thailand’s much-touted Eastern Economic Corridor (EEC) and a new special economic zone (SEZ) in Trat province are expected to become instrumental in bolstering trade not only to Thailand but also to Cambodia…
— Bangkok Post

Vietnam’s biggest trade deficit is no longer with China but S.Korea
Experts said the trend is not a source of concern as the Korean imports mostly serve industrial production in Vietnam.
— VnExpress

VN exporters gain insights into Australia, New Zealand markets
The growing importance of Australia and New Zealand as export markets for Viet Nam was emphasised at a conference on Friday.
— Vietnam News Bizhub

Japanese, Vietnamese enterprises seek cooperation opportunities
Japanese and Vietnamese enterprises in the areas of agriculture, fisheries and food gathered at a meeting in Hanoi on July 28, with the aim of seeking partners and business opportunities.
— VietnamPlus

Vietnam’s trade deficit estimated at US$3.1 billion in seven months
Vietnam’s merchandise trade deficit widened to an estimated US$3.1 billion in the first seven months of 2017, equivalent to 2.7% of exports, according to the latest data released by the General Statistics Office (GSO).
— Nhan Dan Online

Vietnam’s exports still going strong despite US protectionism
According to the General Statistics Office, the US remained the largest market for Vietnamese exports in the first half of 2017, at US$19.6 billion, up 9.5% annually, lower than the 12.8% growth rate during the same period of 2016.
— VietNamNet Bridge

Long Son Petrochemicals complex to begin operations in 2022
“SCG has recently approved investment in the first petrochemicals complex in Vietnam, Long Son Petrochemicals, with a 71 per cent stake and investment of $5.4 billion, with the Vietnam Oil and Gas Group (PetroVietnam),” he said.
— VietNamNet Bridge

Vietnamese textile sector overcomes TPP fall-back in style
After the two years considered the high point of FDI in the textile industry (2014-2015), since the start of 2016, the number of FDI projects in this industry has decreased considerably.
— VietNamNet Bridge

Vietnamese bankers rush to invest in neighboring markets
BIDV (the Bank for Investment & Development of Vietnam), VietinBank, Sacombank, MB and SHB all have subsidiaries or branches in the markets, while SBV has approved Vietcombank’s plans to set up a subsidiary in Laos.
— VietNamNet Bridge

Vietnam commits to create favorable conditions for Malaysian investors
PM Nguyen Xuan Phuc said the Vietnamese Government will create favorable conditions for Malaysian investors to do business in Vietnam, including solar power development.
— Hanoi Times

Ho Chi Minh City boosts investment in Laos
A conference on promoting investment, trade, and tourism was organized in Vientiane on Saturday afternoon, with the attendance of leaders from Ho Chi Minh City and Laos, along with hundreds of Vietnamese and Lao businesses.
— Tuoi Tre News

Regional minimum wage hike debate falls through
An increase in regional minimum wage for 2018 has yet to be finalised due to disagreements over the margin of increase.
— VietNam News Bizhub

Vietnam Airlines bids farewell to Boeing 777-200ER fleet
The airline has inked deals with U.S. aerospace manufacturer Pratt & Whitney to sell its last four Boeing 777-200ER’s and one PW4090 jet engine for upwards of US$70.7 million, ending the airliner’s 15-year service in the fleet.
— Tuoi Tre News

HCM City banks on administrative reforms to boost economy
Speaking at a meeting held yesterday to review socio-economic development and revenue collection, Le Duy Minh, deputy head of the city Department of Taxation, said: “Revenues grew thanks to better business and production by local enterprises as well as start-up support and production assistance programmes.”
— VietnamNet Bridge

Leading global solar cell manufacturer opens Vietnam plant
The GCL System Integration Technology Co. (GCL-SI), a leading global solar manufacturer, has announced that its solar cell plant in Vietnam with 600 MW of production capacity began operations on July 27.
— Vietnam Economic Times

4G forecast to boom in Vietnam this year
Impressive growth of the 4G services has helped Vietnam upgrade its IT infrastructure for ambitious national programmes like Smart City and will make a boost to the country’s mobile phone ecosystem in the country.
— The Nation

3 reasons why telco giant Viettel’s global expansion is booming
Vietnam’s military-run telecoms group Viettel said its pre-tax profit from the nine overseas market it currently has a foothold in rose 156 percent on-year to $41 million in the first half of 2017.
— Vietnam Times

Is Vietnam ready for the next ransomware attack?
As a result, ransomware attacks soared around the globe by more than 11% in the 12 months leading to March 2017, said the report.
— VietnamNet Bridge

 

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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

Sreypov Men

Journalism intern at AEC News Today
Sreypov Men is currently a senior student at Institute of Foreign Languages where she is majoring in International Relations.
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