Vietnam Morning News For June 28

’Business as usual’ won’t drive growth: official
Key advantages that have driven national growth will not last much longer, and policy breakthroughs are needed to unleash the nation’s ‘inner potential,’ a senior Party official said yesterday.
– Viet Nam News

Country sees record hike in international visitors
The country has seen an estimated 6.2 million international visitors in the first half of this year, up 30.2 per cent year-on-year, the General Statistics Office (GSO) reported.
– Viet Nam News Bizhub

Family businesses make significant contribution to GDP
Around 100 large household businesses in the country are contributing to a quarter of the country’s gross domestic product (GDP), the Viet Nam Chamber of Commerce and Industry (VCCI) said.
– Viet Nam News Bizhub

Vietnam Climbs 12 Places in Global Innovation Index
In the recent Global Innovation Index 2017, Vietnam jumped 12 places to 47th among 127 economies, its highest ranking in the last 10 years.
– Vietnam Briefing

Interest rates for different terms forecast to drop 0.5-1 percent
Interest rates for different terms from now to the end of 2017 are likely to decline by 0.5–1 percent from 2016 thanks to positive signals from the stock and property markets, macro-economic indexes, the Government’s attentions to businesses and banks’ strategies for attracting new clients.
– VietnamNet Bridge

FDI disbursement up in H1
Foreign direct investment (FDI) disbursement experienced a year-on-year increase of 6.5 per cent to US$7.72 billion in the first half of this year, statistics from the Foreign Investment Agency revealed.
– Viet Nam News Bizhub

US initiates anti-dumping investigation on VN’s polyester
The US Department of Commerce (DOC) last week announced the initiation of anti-dumping and countervailing duty investigations on the import of fine denier polyester staple fibre from China, India, Republic of Korea, Taiwan and Vietnam.
– VietnamNet Bridge

MoIT strives to boost agri-aquatic product export to Australia
The Ministry of Industry and Trade (MoIT) has joined hands with other ministries and sectors to promote the export of agri-aquatic products to Australia.
– VietnamPlus

Vietnam, Belarus aim for 500 million USD in two-way trade
Vietnam and Belarus will work to lift bilateral trade to 500 million USD, President Tran Dai Quang and Belarusian President Alexander Lukashenko told a press conference held following their talks in Belarus’s capital city of Minsk on June 27.
– VietnamNet Bridge

LG’s plan to increase investment in Vietnamese project on hold
South Korean firm LG Display’s proposal to increase registered capital at their project in Hai Phong by US$90 million has been put on hold as their financial plan is ‘not convincing enough’, according to the finance ministry.
– Tuoi Tre News

City exports up in H1
The southern economic hub of HCM City generated US$17 billion from exports in the first half of this year, surging 17.4 per cent against the same period last year.
– Viet Nam News Bizhub

HCM City needs 5.6 billion USD for development projects
HCM City is seeking more than 128 trillion VND (5.63 billion USD) in investment between now and 2020 for socio-economic development, according to the city’s Department of Planning and Investment.
– VietnamPlus

Australian businesses study investment opportunities in Hau Giang
The Australian Chamber of Commerce in Viet Nam on Monday worked with Hau Giang to study investment opportunities in the southern province.
– Viet Nam News Bizhub

Vietnam’s mobile game market poised to explode
In recent years, millions of electronic game fans have gradually left internet cafes, where they played games on PCs, and have shifted to mobile phones.
– VietnamNet Bridge

Germany’s Bosch group supports innovative startup in Vietnam
Bosch Group, a leading global supplier of technology and services headquartered in Germany, will send experts to evaluate and give consultancies to startup projects and join hands with the Saigon Innovation Hub (SiHub) to organise annual industrial technology startup contests.
– VietnamNet Bridge

Industrial Park land occupancy rate reaches 73%
The occupancy rate at operational industrial parks (IPs) across the country has reached 73 per cent, according to the Economic Zone Management Department under the Ministry of Planning and Investment.
– Viet Nam News Bizhub

Stock market remains in ‘frontier’ index, still not classified as ‘emerging’
Vietnam has not been upgraded to emerging stock market as expected because of the problems relating to the forex market and limited foreign ownership in Vietnamese companies.
– VietnamNet Bridge

Cut off: Tech firm signals death of Vietnamese-built smartphone
Its producer says an ambitious plan to create a second Vietnamese smartphone may be out of reach.
– VnExpress

Garment 10 outsourcing for Uniqlo and Aeon
The Garment 10 Corporation is planning to provide outsourced work for Japanese clothing apparel company Uniqlo and retail giant Aeon, Mr. Than Duc Viet, Deputy CEO of Garment 10, was quoted by local media as saying.
– Vietnam EconomicTimes

Vietnam to seek help from Facebook to stop tax-evading online shops
Vietnam’s taxman has said it would seek help from Facebook to stop businesses that sell products via its pages without paying tax, despite resistance from online shop owners.
– Tuoi Tre News

Forum seeks to unleash potential for sustainable economic growth
The Party Central Committee’s Economic Commission and the Australian Embassy held the Vietnam Economic Forum 2017 in Hanoi on June 27 under the theme “Unleashing the potential for sustainable economic growth”.
– VietnamPlus

First exhibitors confirmed for HortEx Vietnam
HortEx Vietnam, a dedicated exhibition for Horticulture and Floriculture in Vietnam, which will take place from 14-16 March 2018 in the Saigon Exhibition & Convention Center (SECC) in Ho Chi Minh City, has recently received new support from several (semi) governmental bodies.
– Fresh Plaza

New law will help develop technology in VN
Dr Trần Văn Tùng, Deputy Minister of Science and Technology, tells Hà Nội Mới (New Hà Nội) that the new Law on Technology Transfer aims to prevent the import of outdated technologies and encourage adoption of latest advances.
– Viet Nam News

Feature photo Aleksandr Zykov
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