Vietnam Morning News For June 22

VN’s growth target returns to 6.5% as FDI rises
Stronger export growth and a continued rise in investment suggest Việt Nam’s GDP growth will go back above 6.5 per cent in 2017, after a slowdown to 6.2 per cent in 2016.
– Viet Nam News

New decree to help rice exporters
The Ministry of Industry and Trade is drafting a decree to remove bottlenecks for domestic rice exporters, especially small-and medium-sized enterprises (SMEs).
– Viet Nam News Bizhub

Vietnam: Foreign Retailers Face Tax Inspection
Vietnam’s General Department of Taxation has asked local tax authorities to inspect foreign-owned retailers for tax avoidance through transfer pricing or profit shifting.
– Vietnam Briefing

Dialogues in economic zones to be promoted
The Ministry of Labour, Invalids and Social Affairs has requested localities to encourage talks between employers and employees in industrial and processing zones to promptly respond to issues faced by the labourers and prevent labour disputes and strikes.
– Viet Nam News

Thuan Hoa Hydropower Plant starts commercial operation
Thuan Hoa Hydropower Joint Stock Company and Ha Giang Province’s People’s Committee has jointly inaugurated a power plant on the Mien River.
– Viet Nam News Bizhub

2.6 trillion VND invested to enhance southern electricity network
The Southern Power Corporation of the Electricity of Vietnam (EVN SPC) put into use 19 new 110kV power lines with combined investment of 2.63 billion VND (115.8 million USD) in the first half of the year.
– VietnamPlus

VINPA supports petrol tax hikes proposed by MoF
The Viet Nam Petroleum Association (VINPA) has sent a document to the Ministry of Finance (MoF) in support of the ministry’s proposal to increase the environmental protection tax on oil and gas consumption.
– Viet Nam News Bizhub

EU & Vietnam sign joint declaration on sustainable energy cooperation
As a side event at the launch of the Vietnam Energy Partnership Group, a joint declaration on reinforced cooperation in the field of sustainable energy was signed between Vietnam and the European Union, together with Germany, Belgium, Denmark, Finland, France, Ireland, Italy, Luxembourg, Slovakia, Spain, and the UK, on June 21 in Hanoi.
– Vietnam EconomicTimes

Vietnam – US Increasing Trade Relations
In May 2017, Vietnam and the US signed business deals worth US$8 billion.
– Vietnam Briefing

Vietnamese street food favored over foreign fast food chains
Foreign fast food chains in Vietnam are some of the most famous in the world, but many of them have had to leave or close some of their shops in the country.
– Vietnam Times

Korean company plans VN aircraft engine parts factory
South Korean Hanwha Techwin has earmarked some 10ha of land near Ha Noi to build a plant to manufacture aircraft engine parts, Business Korea reported.
– Viet Nam News Bizhub

HSBC: Growth in operating conditions in manufacturing sector ongoing
Operating conditions in the manufacturing sector – Vietnam’s bedrock – point to ongoing growth, with output, employment, and new orders – both overall and overseas – continuing to expand, according to HSBC’s Vietnam at a Glance report for March to May released on June 13.
– Vietnam EconomicTimes

Shaky internet connections in Vietnam as new undersea cable breaks
Internet users in Vietnam started to experience slow speed on Wednesday after a major undersea cable snapped, only months after it was put into use.
– VnExpress

Vietnam has to sell fruits cheaply because of poor processing
Vietnamese have to buy some imported fruits at exorbitant prices, but can only export fruit at low prices.
– VietnamNet Bridge

Officials, business slam agriculture investment incentives
Feasibility, ease of implementation and transparency in information are factors that will prove decisive in attracting investment for agriculture projects, stakeholders agreed at a conference held on Monday.
– Viet Nam News Bizhub

East-West Seed helps small cultivation companies in Vietnam
The almost globally operating company East-West Seed has been known in Vietnam as Hai Mũi Tên Đỏ (HMTD), ever since it was introduced on the Vietnamese market in 1997.
– Fresh Plaza

The Real Estate Market: A Surging Wave of M&A Transactions
Actually, the M&A (merge and acquisition) transactions are not the only one factor that stirred up the real estate market up until now.
– Hanoitimes

Footwear exports targeted at over $35bn by 2025
Vietnam’s footwear industry targets export turnover of $35-38 billion by 2025 and $50-$60 billion by 2035, according to a draft plan from the Ministry of Industry and Trade (MoIT) on developing the industry.
– Vietnam EconomicTimes

HCMC calls for private investment in different fields
The figure was released at a meeting on plan to boost social contribution for the period 2017-2020 presided by People’s Committee Deputy Chairman Tran Vinh Tuyen.
– TalkVietnam

HCM City eyes share of Asian medical tourism pie
With a growing number of medical tourists who combine travel with medical care coming to HCM City in recent years, lucrative medical tourism needs concerted efforts by various official agencies and travel firms to realise its huge potential, experts have said.
– VietnamPlus

Vietnam drops criminal charge threat against unregistered online businesses
Vietnam’s lawmakers have officially removed a controversial clause from the Penal Code that would have allowed criminal proceedings to be taken against unregistered online businesses with possible jail sentences.
– VnExpress

Lâm Đồng firm fined for breaking environmental rules
The People’s Committee of the Tây Nguyên (Central Highlands) province of Lâm Đồng has slapped a fine of VNĐ425 million (US$18,800) on Atlantic Commodities Việt Nam Co Ltd for violating environmental regulations.
– Viet Nam News

Feature photo Dennis Jarvis
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