Vietnam Morning News For September 15

Vietnam Morning News For September 15

Vietnam morning newsVietnam wants foreign investors’ presence in SOE equitisation: PM
Vietnam is stepping up the equitisation of State-owned enterprises (SOE) and wants foreign investors to pay attention to this area, Prime Minister Nguyen Xuan Phuc said on September 14.
— VietnamPlus

Police widen probe of alleged graft linked to PetroVietnam
Vietnamese police have widened their investigation into alleged graft and mismanagement connected with the state-owned oil and gas giant PetroVietnam that caused $69 million in losses.
— News & Observers

Wage growth outpacing labor productivity growth in Vietnam
According to the report of the same name, released at the workshop, growth in the minimum wage was higher than growth in labor productivity during the 2007-2015 period.
— VietnamNet Bridge

iPhone X to cost a fortune in Vietnam, even with me-too features
As with previous iPhone releases, Vietnamese hoping to get their hands on the iPhone X – Apple’s latest flagship device – are able to preorder the phone at double the original price, a number higher than the country’s GDP per capita of $2,185.69.
— Tuoi Tre

WB launches country partnership framework for Vietnam
The World Bank (WB) Vietnam launched on September 14 the Country Partnership Framework (CPF) for Vietnam for the 2017-2022 period, which aims to support the realisation of the targets set in the country’s socio-economic development plan for 2016-2021.
— Nhan Dan Online

Construction enterprises need Government support
Though legal documents relating to real estate development in our country have achieved notable progress, there is still room for improvement – particularly in land prices.
— Viet Nam News

VN’s exports to Algeria surge
Việt Nam exported US$228 billion worth of goods to Algeria this year as of early September, up 26 per cent year-on-year, according to the Vietnamese Trade Office in Algeria.
— Viet Nam News

Thai Vietjet continues international expansion
Thai Vietjet will announce its international expansion plan for flights from Bangkok to new destinations in Việt Nam, China and Taiwan once it obtains the new Air Operator Certificate (AOC).
— Viet Nam News

Vietnamese banks no longer burn for foreign capital
Under the current law, foreign investors can hold up to a 30 percent stake in one Vietnamese bank. However, Techcombank is collecting shareholders’ opinions about cutting the foreign ownership ratio limit in the bank to zero percent.
— VietnamNet Bridge

Hermes bags record profitability in first half
Revenues rose by 11 percent to 2.713 billion euros ($3.23 billion) in the period from January to June.
— VnExpress

APEC: Role of Vietnamese MSMEs highlighted
Micro, small and medium sized enterprises (MSMEs) hold important role for the economic development of Vietnam, said participants to meetings within the framework of the ongoing 24th Small and Medium Enterprises Ministerial Meeting (SMEMM) held in Ho Chi Minh City.
— VietnamPlus

H&M opens first store in Vietnam
A different type of traffic filled the streets of Dong Khoi and Ly Tu Trong when Ho Chi Minh City was greeted by bright lights early last weekend, as more than 4,000 people queued for the grand opening of H&M’s very first store in Vietnam.
— Vietnam Economic Times

Vietnam steps up aquaculture cooperation with Cambodia
Vietnamese Deputy Minister of Foreign Affairs Vu Hong Nam suggested Vietnam and Cambodia join hands in aquaculture when visiting Kampong Chhnang, one of the five Cambodian provinces adjacent to Tonle Sap Lake.
— VietnamPlus

Prices of steel products to rise
Prices of steel products are forecast to continue rising in the latter months of the year due to a hike in the prices of steel ingot and steel scrap.
— Bizhub

Coconut farming remains languishing
Exports of coconut-based products are sluggish due to challenges and difficulties facing the coconut processing industry and coconut cultivation, according to the Agricultural Promotion Centre of the Mekong Delta province of Ben Tre.
— VietnamPlus

Prime Minister Nguyen Xuan Phuc, INTA Chair talk EVFTA signing
Prime Minister Nguyen Xuan Phuc and Chair of the European Parliament’s International Trade Committee (INTA) Bernd Lange discussed the signing of the EU-Vietnam Free Trade Agreement (EVFTA) during their meeting in Hanoi on September 14.
— VietnamPlus

Higher minimum wage may hurt VN
While labour productivity in Viet Nam remains low compared with neighbouring countries, the drastically disproportionate increase of minimum wage and wages might harm the competitiveness of businesses and the long-term development of the country.
— Bizhub

​Slow ODA disbursement challenges Ho Chi Minh City metro project
Despite ODA loans provided by Japan, the construction of Saigon’s first metro line is still delayed by sluggish disbursement.
— Tuoi Tre

Investor blames Quang Tri authorities for business problems
In a report sent to Quang Tri Provincial People’s Committee on September 12, the businessman, Huynh Van Tri, said that leaders of Huong Hoa District had not yet finished the land transfer to his MTV My Anh – Khe Sanh Company to carry out their USD37 million project as committed.
— VietnamNet Bridge

Vietnam keen to import oil engineering products from Azerbaijan
Vietnam is interested in importing oil engineering products from Azerbaijan, Vietnamese Prime Minister Nguyen Xuan Phuc said at the meeting with Azerbaijani Foreign Minister Elmar Mammadyarov in Hanoi.
— Trend News Agency

Traditional PE doesn’t work in volatile Asian market: EXS Capital CEO Eric Solberg
In Vietnam, EXS Capital started to invest in SonKim Land in 2012, and has since then helped the company raise $84 million.
— DealStreetAsia

Vietnamese firms assist Cuba’s post-Irma re-building efforts
Some Vietnamese companies, via the Cuba Embassy in Vietnam, have offered material support to Cuban people with a view to helping them to overcome consequences caused by hurricane Irma.
— VietnamPLus

Khánh Hòa Sanest Beverage earns $10m from IPO
Khánh Hòa Sanest Beverage Company earned VNĐ222.7 billion (US$9.8 million) from the sale of nearly eight million shares at its initial public offering (IPO), the HCM City Stock Exchange said.
— Viet Nam News

 

Feature photo ADB Photo/Tran Viet Tuan
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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 recently completed a course of study in International Relations at the Institute of Foreign Languages.

She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018

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