Vietnam Morning News For May 8

Vietnam Morning News For May 8

Vietnam morning news

PM directs 4th Industrial Revolution preparations
Prime Minister Nguyễn Xuân Phúc has ordered all central agencies and local administrations nationwide to make plans for optimum usage of all advantages offered by the 4th Industrial Revolution.
— Viet Nam News

Probe Finds Rampant Log Smuggling to Vietnam
Corruption in Cambodia and demand in Vietnam have in recent months fueled illegal logging at “unprecedented scales” in the protected forests of Ratanakkiri province, according to a new report using undercover investigators.
— Cambodia Daily (paywall)

World Bank helps Vietnam improve transportation, sanitation
The World Bank’s Board of Executive Directors has approved 315 million USD in financing to improve water transport infrastructure and sanitation and transport services in Vietnam.
— VietnamPlus

FDI value reaches $10.95b to April
The value of foreign direct investment (FDI) capital in Viet Nam reached US$10.95 billion in the first four months of this year, a year-on-year increase of 40.5 per cent.
— Viet Nam News biz hub

Vietnam dismisses Ho Chi Minh City leader from Communist Party’s decision-making body in rare move
Dinh La Thang was voted out of the Politburo on Sunday, a week after Party inspectors condemned him for past business wrongdoings.
— VnExpress

Moody’s upgrades VIB credit rating outlook
Moody’s Investors Service, one of the world’s leading credit ratings agencies, has upgraded the credit rating outlook of Vietnam International Bank (VIB)’s local currency deposits and issuer ratings to “positive”, from its previous level of “stable”.
— VietnamPlus

Growth in the Vietnam private sector slows in 2017
The latest growth indicator published by the General Statistics Office has revealed that growth in the Vietnam private sector slowed in the three months leading to April 2017.

China’s naval fleet visits Ho Chi Minh City
A Chinese naval fleet arrived in Ho Chi Minh City’s International Port on May 6, starting a four-day friendship visit to Vietnam.
— VietnamPlus

Hyosung Corp likely to increase investment in Vietnam
Hyosung Corporation, a South Korea based textile and chemicals company, is likely to increase its investment in Vietnam, encouraged by good earnings by its Vietnamese subsidiary and a slew of measures taken by the government to attract foreign investment in the Southeast Asian nation. The company may increase its spandex and tire cord production capacity.
— Fibre2Fashion

Trade Minister heads to Vietnam to discuss remnants of the TPP
Trade Minister Todd McClay is headed to Vietnam to discuss the remnants of the controversial Trans-Pacific Partnership and the prospect of an alternative agreement.

Vietnam’s green vehicle policies inadequate
In the endeavour to reduce emissions and the dependence on fossil fuels, many governments have been adopting preferential policies for green vehicles, while car-makers are increasingly seeing the value of turning green and coming out with environment-friendly vehicles. However, in Vietnam, the policies to support green vehicles are still lacklustre.

HCM City allows advertising on buses
HCM CITY – The HCM City People’s Committee has approved a proposal by the Department of Transport to put up advertisements on local buses. The plan is intended to increase bus companies’ earnings, reducing their dependence on state subsidies.
— Viet Nam News

Construction Ministry approves small apartments
The Ministry of Construction (MoC) has allowed the Dat Lanh Real Estate Company to temporarily apply the minimum areas of 25 sq.m for its commercial apartments. However, the apartments should still ensure enough functional space for living.
— VietnamPlus

Tourism investment to continue in Vietnam
Based on their strong growth in recent years, the tourism and hospitality sectors are predicted to develop rapidly and attract plenty of investment.

Aquaculture export to reach $13b
Việt Nam’s exports of marine aquaculture produce is expected to reach US$12-13 billion by 2020 and $30-35 billion by 2030, according to the Việt Nam Sea Culture Association.
— Viet Nam News

Taiwan’s Formosa to pump $1 bln in notorious steel plant in Vietnam – report
The fresh funds would be used to expand production capacity and environment protection, following a toxic spill a year ago.
— VnExpress

Growth of VN textile industry to continue
THE TEXTILE and garment industry are forecast to continue growing this year with promising signs from new markets abroad.
— The Nation Social and Mobile Commerce on the Rise in Vietnam
In Vietnam, online retail makes up about 1% of the total retail market. Various forecasts cited in the publication predict that this number will significantly multiply by 2020. Drivers to this growth are an increase in smartphone and Internet penetration rates as well as growing customer openness to online shopping.
— (media release)

Banks seek increased charter capital
It is the bank shareholders meeting season, and topping the agenda, besides the dividend payout ratio, is increasing their regulatory capital.
— Viet Nam News

Viettel accelerating foreign expansion
After experiencing various successes in its investment markets around the world, Viettel is welcomed by a large number of markets, especially in Africa, for its investment in telecommunications. Thanks to various favourable conditions for development, Viettel is now eying Nigeria and Indonesia.

Industrial land up despite TPP uncertainty
Industrial land in Việt Nam has continued expanding since the beginning of this year, despite uncertainty over the future of the Trans-Pacific Partnership (TPP) after the withdrawal of US support for the deal.
— Viet Nam News

Fitness centers riding the wave in Vietnam
For a while after it opened a few years ago, the gym at the Ba Dinh Sports Center welcomed just a few customers every day.


Feature photo Monica Volpin
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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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John Le Fevre

Thailand editor at AEC News Today

John is an Australian national with more than 40 years experience as a journalist, photographer, videographer, and copy editor.

He has spent extensive periods of time working in Africa and throughout Southeast Asia, with stints in the Middle East, the USA, and England.

He has covered major world events including Operation Desert Shield/ Storm, the 1991 pillage in Zaire, the 1994 Rwanda genocide, the 1999 East Timor independence unrest, the 2004 Asian tsunami, and the 2009, 2010, and 2014 Bangkok political protests.

In 1995 he was a Walkley Award finalist, the highest awards in Australian journalism, for his coverage of the 1995 Zaire (now Democratic Republic of Congo) Ebola outbreak.

Prior to AEC News Today he was the deputy editor and Thailand and Greater Mekong Sub-region editor for The Establishment Post, predecessor of Asean Today.

In the mid-80s and early 90s he owned JLF Promotions, the largest above and below the line marketing and PR firm servicing the high-technology industry in Australia. It was sold in 1995.

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