Vietnam’s Economic Miracle Unabated – New “Tiger” Is Born, Report Says
A latest commentary by Qatar National Bank (QNB) on Asian economies stated that Vietnam has become one of Asia’s, as well as the world’s fastest growing economies and can been seen as Asia’s latest “tiger” nation in the tradition of Hong Kong, Singapore, Taiwan and South Korea in the 1970s and 1980s and the so-called “tiger cub” economies of the following generation, Thailand, Indonesia, Malaysia and, more recently, India.
Vietnam lays out development strategy of banking sector until 2025
Vietnam is expected to have at least 2 – 3 commercial banks in Asia`s top 100 largest banks in terms of assets and 3 – 5 banks listed in foreign stock markets by the end of 2025.
— The Hanoi Times
Vinfast, Siemens sign deals for electric bus manufacturing
Vinfast Manufacturing and Trading Company Limited, a subsidiary of Vingroup, has signed two contracts on the supply of technology and spare parts for electric bus manufacturing with Siemens Vietnam Company.
Vietnam war hero Bui Tin dies at 90
A Vietnamese former colonel and revolutionary war hero who became disillusioned with the communist regime and defected, becoming one of its most vocal and influential critics, died in France at age 90.
— Gulf Times
Vietnam activist placed under house arrest
A Vietnamese activist was put under house arrest and barred from leaving the country after she defaced the national flag, she told media on Friday, vowing to fight for democracy in the one-party state where dissent is swiftly stamped out.
— The Asean Post
Doors to export markets narrow for steel manufacturers
It has become more difficult to export steel products to large markets amid the strong rise of protectionism. Steel manufacturers have been advised to protect and exploit the domestic market, which is full of potential.
— VietNamNet Bridge
Vietnam to postpone equitizing Mobifone until 2019 on failed deal
After receiving full refund from AVG, the Ministry of Information and Communications (MIC) will conduct the valuation process of Mobifone as part of the equitization later on.
— The Hanoi Times
Ministries to promote GI products
Three ministries including Industry and Trade (MoIT), Agriculture and Rural Development (MARD) and Science and Technology (MoST) on Wednesday signed a co-ordination agreement on construction and management of geographical indication (GI).
Vinamilk to spend over 170 mln USD on hi-tech dairy farm in Can Tho
Vinamilk, Vietnam’s largest dairy producer, will plashed out some 4 trillion VND (171.3 million USD) to develop a 6,000-ha complex of hi-tech dairy farms in the Mekong Delta city of Can Tho under a newly-inked agreement with Song Hau Farm Corporation.
Vietnam strives for higher rate of non-cash payment
Vietnam is setting to make the rate of cash payment to be below 10 percent among all means of payment by 2020 and eight percent by 2025, local online newspaper Thoi Bao Ngan Hang (Banking Times) quoted the Vietnamese banking development strategy as saying on Sunday.
Japan Will Soon Help Vietnam Extract Gas from the South China Sea. How Will China Respond?
Idemitsu Kosan and Teikoku Oil signed the agreement with the Vietnamese state-owned oil and gas giant, PetroVietnam, on July 31. They will help develop and sell the gas located in the Sao Vang-Dai Nguyet project.
— The National Interest
Outgoing envoy urges Taiwan to assist Vietnam’s infrastructure
Vietnam’s outgoing top envoy to Taiwan on Friday called on Taiwan’s government to invest in his country’s infrastructure and share its expertise with the developing country which is in need of more upgrades in this field.
— Taiwan News
Vietnam, Thailand mull mutual recognition agreement on auto standards
Thailand has proposed the signing of a mutual recognition agreement (MRA) for automobile standards with Vietnam.
Moody’s upgrades Viet Nam’s ratings
Moody’s Investors Service on Friday upgraded the Government of Viet Nam’s long-term issuer and senior unsecured ratings to Ba3 from B1 and changed the outlook to stable from positive.
Vietnam demands China end celebration of city in flashpoint waters
Vietnam has expressed objection to China’s celebrating the founding of a city in the South China Sea, which it calls the East Sea.
Experts see property market unturn in run-up to Tet
The HCM City real estate market will be positive from now until the Lunar New Year in early 2019, according to HCM City Real Estate Association (HoREA).
Experts warn Vietnam’s economy shows signs of losing momentum
The Vietnamese economy enjoyed a high growth in the first half of 2018, however, there are indications that it is losing momentum in the remaining months of the year, experts warned.
— The Hanoi Times
SCIC evaluates State capital divestment
Given the stock market’s recent lethargy, the State Capital Investment Corporation (SCIC) is assessing market demand to consider choosing the most efficient capital divestment options at State-owned enterprises (SOEs).
Organic produce does not meet rising demand: experts
The rapidly growing demand for organic agricultural produce offers huge potential for businesses to invest in production and develop retail networks, experts said at a workshop Thursday in HCM City.
200 drug users bust out of Vietnam rehab centre
Around 200 drug users escaped from a rehab centre in Vietnam on Saturday (Aug 11), police said, the latest breakout attempt from the country’s controversial treatment facilities.
— Channel NewsAsia
Vietnam faces challenges to lure foreign indirect investment in H2
After receiving strong foreign indirect investment (FII) capital in the first half of the year, it is forecast that it will be hard for Vietnam to maintain the positive inflow due to external risks.
— The Hanoi Times
Vietnam’s Most Instagrammable Resort: The InterContinental Danang
Danang may not be the first place you think of when you think of Vietnam. However, the InterContinental Danang Sun Peninsula Resort is reason enough to go.
National external affairs conference held in Hà Nội
The Ministry of Foreign Affairs and heads of Vietnamese representative missions abroad are ready to work alongside domestic cities and provinces in comprehensively fostering external relations with other countries, said Deputy Prime Minister and Foreign Minister Phạm Bình Minh.
— Viet Nam News
Black smoke belches out of Vietnam’s tallest building
A fire broke out on the 64th floor of Landmark 81 building in Saigon’s Binh Thanh District on Saturday afternoon.
Feature photo Travis Hawk
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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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