Vietnam Morning News For November 17

Vietnam to offload 21.8% of construction major Vinaconex on Dec 8
The State Capital Investment Corporation (SCIC), Vietnam’s sovereign wealth fund, is seeking to sell a 21.79 per cent stake in the country’s construction major Vinaconex on December 8.
— DealStreetAsia

Government Inspectorate detects Hà Nội housing violations worth $69.4million
The Government Inspectorate has detected violations worth (US$69.4 million) in many housing projects developed in Hà Nội between 2002 and 2014.
— Viet Nam News

Central bank governor stresses solutions to bad debt settlement
Governor of the State Bank of Vietnam (SBV) Le Minh Hung on November 16 fielded lawmakers’ questions about the banking system’s operations, underlining the need to focus on effectively implementing a resolution on piloting the settlement of bad debt at credit institutions.
— Nhan Dan Online

Vietnam pledges to improve cashew quality to meet growing local demand
Michael Waring, vice chairman of the International Nut and Dried Fruit Council Foundation (INC), said “The global nut industry has increased in both production and consumption tremendously in the past 10 years.
— Fresh Plaza

Techfest wraps up with fruitful commercial affairs
Nearly 29 commercial deals with total investment of more than US$4.5 million have been committed as a result of investment matching activities at the national innovative start-up festival Techfest 2017.
— Viet Nam News

Vietnam, WEF cooperate on infrastructure development
The Ministry of Planning and Investment (MPI), in collaboration with the Foreign Ministry and the World Economic Forum (WEF), organised a workshop, titled “Vietnam-WEF infrastructure development cooperation,” in Hanoi on November 16.
— Nhan Dan Online

Vietnam-China int’l trade fair yields economic deals
The 2017 Vietnam-China International Trade Fair in Vietnam’s northern Lao Cai province has concluded, with eight economic contracts worth over 258.3 million U.S. dollars signed, the provincial authorities said on Thursday.
— Xinhua

Capitaland to build 870-unit Vietnam project
CapitaLand has bought a site in Ho Chi Minh City for US$38.9 million (S$53.5 million), saying that the homes it can build on the 1.45 hectare plot will be worth US$177 million.
— The New Paper

Local car maker to debut new Mazda car model
Truong Hai Automobile Joint-Stock company (Thaco), in co-operation with Japan’s Mazda Motor Corporation, has launched a new Crossover Utility Vehicle model, the Mazda New CX-5, in Chu Lai-Trường Hải Industrial Complex in Quảng Nam Province.
— Viet Nam News

Minister grilled on public investment efficiency
Dung said that thanks to the Law on Public Investment which set forth stricter management and allocation of central and local budget, the number of investment projects dropped from 20,000 during the 2011-2015 period to 1,000 in 2016-2020.
— VietnamNet Bridge

ICOs stir up action in Vietnam’s startup space but venture capital to remain mainstay
Initial coin offerings (ICO) have started to stir up action in the fledgling tech startup ecosystem in Vietnam.
— DealStreetAsia

Vietnam halts exportation of silica sand used in glassmaking
Customs departments across Vietnam have been asked to stop clearing the export of silica sand as per a government order to preserve the resource.
— Tuoi Tre

Singapore Jardine unit ups investment into Vinamilk to $1b for 8.9% stake
Singapore-listed automotive firm Jardine Cycle & Carriage (JC&C) has made two additional purchases of Vinamilk shares after its maiden $616.6 million investment on November 10, to consolidate its presence in the Vietnam’s biggest listed business to 8.9 per cent.
— DealStreetAsia

VN sees over $24 billion trade deficit from APEC economies
Exports reached $120.48 billion and imports reached $144.83 billion, up 23.9 per cent and 22 per cent, respectively, over the same period last year.
— VietnamNet Bridge

Tra export value rises, firms cautious
Specifically, exports to the US reached 258.3 million USD, making up more than 19.8 percent of total exports and down 9.9 percent year-on-year.
— VietnamNet Bridge

Long Thanh International Airport capital debate divides NA
In the pre-feasibility report submitted to the NA, the government reported that the total estimated cost for site clearance, including the construction of resettlement and cemetery areas, is about VND23.04 trillion ($1.01 billion).
— VietnamNet Bridge

Chinese e-commerce firm JD.com pours $44 million in Tiki.vn
According to newswire Nhipcaudautu, Tiki.vn has received an investment capital worth VND1 trillion ($44 million) from JD.com to serve its plans to expand its operations.
— VietnamNet Bridge

HN prepares goods worth $1.14 billion for Tet
Ha Noi’s Department of Industry and Trade is partnering with firms and business households to prepare goods for the upcoming Tet (Lunar New Year) holiday, worth VND26 trillion (US$1.14 billion) in total.
— Bizhub

Dirty food ruins appetite and costs lives in Vietnam
Vietnamese people are scared to eat food supplied by their fellow countrymen.
— Tuoi Tre (video)

Feature photo ILO in Asia and the Pacific
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