Vietnam Morning News For April 12

Vietnam Morning News For April 12

Vietnam morning news$666m lost in massive cryptocurrency fraud in HCM City
As many as 32,000 people have fallen victim of an alleged cryptocurrency fraud in HCM City, involving a sum of up to US$666 million.
— The Nation

Government to promote reforms of realty market
The government will make breakthrough in streamlining legal regulations and reforming business conditions in the real estate sector this year.
— The Hanoi Times

Hanoi prepares to power up automated convenience stores
No more sleepy cashiers, but there have been complaints of the country’s first store in HCMC running out of goods.
— VnExpress

Vietnam’s crackdown on dissent could undermine its stability and growth
Since General Secretary Nguyen Phu Trong emerged in firm control atop Vietnam’s political leadership in early 2016, Hanoi has gone on the offensive in a massive effort to clamp down on internal political dissent of all stripes, arresting bloggers and purging corrupt state officials.
— Lowy Institute

Government raies US$61.5mn from SOE divestment
The Government raised more than VND1.39 trillion (US$61.5 million) by divesting its stake in State-owned enterprises (SOEs) in the first quarter of this year, according to the Ministry of Finance.
— Bizhub

Remittance soars to over U$1.1 billion
Remittance to Ho Chi Minh City in the first quarter of 2018 increased by 4.5 percent against the same period last year to reach US$1.12 billion, a central bank official said.
— The Hanoi Times

Deputy PM slams MPI for poor investment capital allocation
Poor coordination between the Ministry of Planning and Investment and other ministries and localities is to blame for the late disbursement of public investment, said Deputy Prime Minister Vuong Dinh Hue.
— Bizhub

Open policies to lure PPP investment in transport
Vietnam is streamlining policies on the public-private partnerships (PPP) investment model in the transport sector to make the regulations attractive to domestic and foreign investors.
— The Hanoi Times

Vietnam sales fall 8% in March
New vehicle sales in Vietnam continued to fall in March, by 8.1% to 20,956 units from 22,792 units in the same month of last year according to member data released by the Vietnam Automotive Manufacturers Association (VAMA).
— Just Auto

Sabeco asked to pay $111 million to State budget after audit report
The Ministry of Finance has asked the Saigon Beer-Alcohol-Beverage Joint Stock Corporation (Sabeco) to pay about VND2.5 trillion (US$111 million) worth of undistributed profit to the State Budget.
— Bizhub

Government to make 25 vital inspections in 2018
The Government Inspectorate (GI) will conduct 25 crucial inspections this year, according to a plan issued recently by Chief Government Inspector Le Minh Khai.
— The Hanoi Times

Logistics sector struggling to meet demands of e-commerce
The e-commerce sector in Viet Nam has seen remarkable growth in recent years, but a lack of uniformity in delivery and payment methods may lead to many businesses missing opportunities.
— Bizhub

Vietnam Airlines to add 300 flights during upcoming holidays
The national flag carrier Vietnam Airlines announced on April 11 that it would increase domestic flights to meet the high travel demand of passengers during the Reunification Day (April 30) and May Day (May 1).
— VietnamPlus

Law on dual roles rearranges top bank personnel
In order to comply with the new amendment on holding dual posts in commercial banks and enterprises, leaders of various banks, including LienVietPostBank and Nam A Bank took leave, signalling huge changes in the banks’ board of directors (BOD).
— VietnamNet Bridge

Manufacturing firms optimistic about production in second quarter
Approximately 89.6% of surveyed enterprises in the manufacturing industry said that their business and production activities will be stronger and more stable in the second quarter of 2018.
— Nhan Dan Online

ADB forecasts Vietnam’s economy to grow 7.1 percent in 2018
The Vietnamese economy will rise to 7.1 percent this year, before easing back to 6.8 percent in 2019, said the Asian Development Bank (ADB) in a new report launched on April 11.
— VietnamPlus

Vietnam weighs law for coast guard to open fire to protect sovereignty
Vietnam wants to give its coast guard more flexibility to open fire at sea, amid tension in the busy South China Sea waterway, a draft law released on Wednesday showed.
— Channel NewsAsia

Renewable energy projects up in 10 months
An average of nine projects in power generation and distribution were registered every month since June 2017, according to the Vietnam Renewable Energy Report 2018.
— VietnamPlus

Vynn Capital bullish on early stage bets as growth funding matures in SE Asia
Vynn Capital, a new Southeast Asia-focused venture capital firm founded by former Gobi executive Victor Chua and Singapore’s Darren Chua, says it categorizes Vietnam as one of its Tier 1 markets.
— DealStreetAsia

​Russia wants to boost multifaceted cooperation with Vietnam
Russia is keen on fostering its collaboration in various areas with Vietnam, which the former regards as a promising market, a Russian official said at the Vietnam-Russia Business Forum in Ho Chi Minh City on Tuesday.
— Tuoi Tre

Vietnam’s widened trade deficit with RoK: no worries
Vietnam has witnessed continued growth in its trade deficit with the Republic of Korea (RoK), due to the latter boosting its investment and exports to the former in a bid to cash in on tax cuts under trade pacts.
— Nhan Dan Online

SaigonTex 2018 introduces modern textile-garment machinery
The Vietnam Textile and Garment Industry Expo – SaigonTex 2018, the biggest and most influential event of the textile and garment industry of Vietnam, opened in Ho Chi Minh City on April 11.
— VietnamPlus

​Vietnam kicks off annual awards for listed firms
The 2018 edition of the annual Vietnam Listed Company Awards (VLCA), which recognizes firms for their corporate governance and success, was kick-started on Tuesday in Ho Chi Minh City.
— Tuoi Tre

 

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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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