Vietnam Morning News For April 24

Petrol prices remain stable, oil prices slightly rise
The price of bio-fuel E5 was kept unchanged while those of diesel 0.05S and kerosene increased slightly by 380 VND and 500 VND per litre respectively in the latest regular adjustment of petrol and oil prices on April 23.
— VietnamPlus

Vietnam accounts for 6 pct of world’s timber, wooden furniture market
Vietnam’s exports account just 6 percent of the global timber and wooden furniture market which is estimated at 120 billion USD, said a local official.
— VietnamPlus

Asian Development Bank and Viet Nam: Fact Sheet
ADB supports Viet Nam in promoting job creation and competitiveness, increasing the inclusiveness of infrastructure and service delivery, and improving environmental sustainability and climate change response.
— Asian Development Bank

Domestic brewers expand to compete against foreign rivals
As foreign brewers are strengthening their foothold in Vietnamese beer market, domestic businesses are also implementing plans to enlarge the market share.
— The Hanoi Times

PetroVietnam to continue with large-scale divestment
The State-owned Vietnam Oil and Gas Group (PetroVietnam or PVN) has drafted a plan for a comprehensive restructuring until 2025, under which it will continue with large-scale divestment from all of its member corporations and companies.
— VietnamPlus

Hanoi to promote female start-ups and economic development
The Hanoi People’s Committee has recenty issued Document No. 1901/QD-UBND, approving project on supporting female start-ups for the period of 2018-2025.
— The Hanoi Times

City calls for foreign investors to further contribute to sustainable growth
HCM City authorities told members of the foreign community at a meeting on last Saturday that they warmly welcomed foreign investment that has significantly contributed to the city’s sustainable and rapid growth.
— Bizhub

Vietnam’s HDBank to absorb PGBank in merger
Vietnam’s Ho Chi Minh City Development Joint Stock Bank, better known as HDBank, said its shareholders approved on Saturday a plan to merge with the unlisted Petrolimex Group Commercial Joint Stock Bank as it seeks to expand operations in the country.
— VnExpress

Vietnam to keep sugarcane area at 300,000ha by 2030
Vietnam will keep its sugarcane growing area stable at 300,000 hectares until 2030 in parallel with increasing sugar output and quality, according to a plan on the sugar industry’s development until 2020 with a vision to 2030.
— VietnamPlus

Sacombank targets 23.2 per cent rise in pre-tax profit
Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) has set itself a target of increasing its assets to VND430.9 trillion (US$18.92 billion) this year, an increase of 16.9 per cent from last year.
— Bizhub

Vietnam’s digital economy face challenges in data protection
The government should take bold actions to ensure the law enforcement in protection of the rights of privacy and personal information to be strictly observed as it is the prerequisite condition for the development of the digital economy, according to experts.
— The Hanoi Times

Vietnamese province raises eyebrows with red-carpet treatment given to resort project
The administration of the central province of Quang Ngai Province has attracted criticism for providing unusual support for a proposal to develop a seaside resort by a local realty conglomerate.
— Tuoi Tre

Bank dividend pay-out hit record high
After years of receiving low dividend payout rate by banks, shareholders of many banks are now happy with the record high rates announced at this year’s annual general meetings (AGMs) of shareholders.
— The Hanoi Times

Vietnam is big winner of free trade deals
The clinched free trade agreements (FTAs) has opened the door wider for Vietnamese goods to enter foreign markets, helping the country improve trade balance with its trade partners.
— VietnamNet Bridge

Vietnam renews business license for Globaltrans Air
Deputy Minister of Transport Le Dinh Tho recently signed a decision to renew the business license to Globaltrans Air to operate as a general aviation service provider in domestic and international markets.
— The Hanoi Times

Dong Nai draws over 456 million USD in FDI
The southern province of Dong Nai has granted investment licences to 56 foreign direct investment (FDI) projects worth 456.6 million USD, fulfilling 45.6 percent of the yearly target.
— VietnamPlus

Foreign media laud Vietnam’s economic achievements
A number of foreign press outlets have published articles lauding Vietnam’s economic achievements.
— Nhan Dan Online

Sabeco adds majority shareholder ThaiBev’s representatives to board
Shareholders of Vietnam’s largest brewer Sabeco voted to add three representatives of Thai Beverage PCL to its management board, Sabeco said in a statement.
— DealStreetAsia

With bigger paycheck in sight, millennials lead job hopping trend in Vietnam
As Vietnam’s private sector is booming, millennials refuse to settle for an OK job. They want more.
— VnExpress

Korea’s FDI to Vietnam in focus of finance – banking sector
Korea currently is the largest among 126 countries and territories investing in Vietnam, for which the trend is expected to continue growing in the coming time, said the Ministry of Planning & Investment (MPI).
— The Hanoi Times

Feature photo Lucas Jans

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