Vietnam Morning News For September 5

Vietnam Morning News For September 5

Vietnam morning newsVietnam says violations found at central bank in war on graft
Vietnam has found faults with the central State Bank of Vietnam, including poor supervision of credit organizations and inefficiency in preventing corruption, the government said on Saturday.
— Business Insider

The three biggest risks in doing business in Vietnam
“Why have Vietnamese businesses died?” was a question raised by Nghia at a forum on financial security and business competition held several days ago.
— VietnamNet Bridge

Vietnam to see cutthroat competition in petroleum market
Vietnam’s oil refining industry is built based on two huge projects capitalized at multibillion dollars – Dung Quat Oil Refinery and Nghi Son Petrochemical & Oil Refinery Complex.
— VietnamNet Bridge

Foreign tourists keep flocking to Vietnam, but whether they come back is another story
In 2015, Tim Doling, a British author who has studied Vietnam’s history and tourism extensively, said he was left “simply astounded” when the vice director of one of the biggest hotels in Saigon told him there was “nothing to see or do here.”
— VnExpress

NMDC may pick up stake in Vietnam tungsten mine
NMDC Ltd is considering picking up stake in a tungsten mine located in Vietnam and is awaiting the Union Cabinet nod to take up due diligence and then pursue the deal.
— Hindu Business Line

How fair is our food? Big companies take reins on sourcing schemes
From cocoa to tea, food and drink giants are setting their own standards for ethical sourcing of raw materials, moving away from third-party labels such as Fairtrade.
— VnExpress

Bay Area nonprofit helps farmers in war-torn lands heal history
Roots of Peace, a Bay Area nonprofit working in Vietnam helping farmers improve their crops, has sold its first crop of black pepper from those farmers to one of the top spice companies in the country.
— abc7News

Macau casino junket king invests in billion-dollar resort in Vietnam
A $4 billion integrated resort will soon spring up in Hoi An, a UNESCO-listed town in central Vietnam.
— VnExpress

Low land taxes prompt rich to hoard money in houses
Under the non-agricultural land use tax law, which took effect on January 1, 2012, non-agricultural land, including housing land in urban areas, is subject to tax. The tax rate is 0.03 percent of the land price set by local authorities, applied to the land area within the limits.
— VietnamNet Bridge

Over 12,400 new firms set up in August
As many as 12,404 new enterprises were set up in August with total capital of 131 trillion VND (5.76 billion USD), up 6.2 percent in volume and 39 percent in value, reported the General Statistics Office (GSO).
— VietnamPlus

$1.2mn locally-made water bus launched, ready for Saigon route
A Vietnamese-made express boat has been launched and is expected to be utilized for a river bus route in Ho Chi Minh City.
— Tuoi Tre

Drivers in Vietnam to enjoy smart transport system
Motorists in Vietnam, especially in big cities, are expected to benefit in coming years from a smart transport system like those in developed countries as the Ministry of Transport has recently directed relevant agencies to speed up progress on building the digital traffic map system in the country.
— The Nation

Price of material shrimp increases in August
Price of material shrimp, especially tiger prawn, was on the rise in August, said the Ministry of Agriculture and Rural Development.
— VietnamPlus

Vietnamese company installs equipment in Brunei
Lilama 69-2 Company, a subsidiary of the Lilama Corporation, has completed the installation of its equipment at an Air Liquide plant in Kuala Belait, Brunei.
— VietnamPlus

Hit & miss
Since February this year, Vietnam has been contemplating collecting taxes from vendors selling goods on social media platforms.
— Vietnam Economic Times

Vietnamese pangasius sector urged to consider European sales hub
Throughout the Vietfish 2017 trade show, several voices urged the Vietnamese pangasius sector to consider some form of European distribution center (EDC) as a way to begin to reinvigorate that market.
— Under Current News

In the cross-hairs
Conducting business online has never been so fruitful in Vietnam as now, but whether tax authorities can extract collections remains up for debate.
— Vietnam Economic Times

​Hospital-goers fall for unlicensed cabbie’s scams in Ho Chi Minh City
A recent probe by Tuoi Tre (Youth) newspaper has revealed that several taxi drivers in front of the Oncology Hospital, located in Binh Thanh District, have been overcharging passengers.
— Tuoi Tre

Quang Viet Enterprises Co Ltd (4438) Is Yet to See Trading Action on Sep 5
Shares of Quang Viet Enterprises Co Ltd (TPE:4438) closed at 174 yesterday. Quang Viet Enterprises Co Ltd currently has a total float of 103.38 million shares and on average sees shares exchange hands each day. The stock now has a 52-week low of 134.5 and high of 189.5.
— Herald UK

South Korean coast guard ship visits Vietnam
Vessel Badaro of South Korea’s coast guard force arrived in the central Vietnamese city of Da Nang on Monday, commencing its four-day visit to the city.
— Tuoi Tre

Egyptian President’s Vietnam visit to open new chapter in bilateral ties
Egyptian President Abdel Fattah el-Sisi’s official visit to Vietnam from September 6-7 is expected to usher in a new chapter in the bilateral relationship, according to Egypt’s Al Messa daily on September 3.
— VietnamPlus

Vietnam’s PE landscape improves, SOE opportunities remain uncertain
Deal making by private equity firms in Vietnam this year has already reached around $770 million through 19 deals compared to $750 million across 13 completed transactions in the last fiscal year, according to DEALSTREETASIA data.
— Deal Street Asia

 

Feature photo ILO in Asia and the Pacific
Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

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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