Vietnam morning news for August 16

Vietnam morning news for August 16

Vietnam morning newsVietJet doubles down on mega Boeing order with jet buying spree (HD video)
Doubling down on its order for 100 high-capacity 737 MAX 8 airplanes in 2016, Vietnam low cost carrier VietJet signed a memorandum of understanding (MOU) for an additional 100 more 737 MAX airplanes with Boeing Commercial Airplanes (BCA) during the recent Farnborough Airshow 2018 in southern England.
— AEC News Today (video)

Oil firms use secretive court hearing in bid to stop Vietnam taxing their profits
Two multinational oil companies have launched a pre-emptive legal strike, seeking to stop Vietnam from collecting taxes on the profits made in a major oil deal.
— The Guardian

Railway sector plans to improve safety, capacity with $300m
Enhancing safety and capacity are the top priorities for the railway sector as it receives a much-needed package of VNĐ7 trillion (US$301 million) from the State budget.
— Viet Nam News

Vietnam’s lychee exports increased 126 percent this year
Vietnam saw strong growth in its lychee exports and the number of enterprises exporting lychees this year, said the General Department of Customs.
— Fresh Plaza

Vietnam e-commerce leader draws $51m pan-Asian investment
Japanese financial services group SBI Holdings and other Asian-based companies will invest a total of $51 million in Vietnam’s online marketplace Sendo Technology, seeking to tap the country’s booming e-commerce market.
— Nikkei Asian Review (paywall)

Vietnam investment ministry warns over China’s ODA loans
Interest rates from Chinese official development assistance (ODA) loans are nearly double those of other countries, coupled with less attractive loan terms.
— The Hanoi times

Vietnam’s cybersecurity law threatens free trade
Vietnam’s parliament has approved a new cybersecurity law that requires all companies doing business in the country to store their data locally — a principle known as forced data localization.
— Nikkei Asian Review (paywall)

Moody’s upgrades ratings of 14 Vietnamese banks
Moody’s Investors Service on Tuesday upgraded the ratings of 14 Vietnamese banks, driven by its upgrade of Viet Nam’s sovereign rating to Ba3 from B1 late last week.
— Bizhub

Vietnam struggles to export fruit to demanding markets
Viet Nam has exported its fruit to high-standard markets in recent years, such as the US, the European Union and Japan, but increasing export volume is no easy task.
— VietnamNet Bridge

Start-ups need more support policies
Viet Nam still faces a shortage of policies for start-up development. Ministries therefore are striving to research and propose to the Government new policies for start-up community development, heard attendees at a conference on investment in start-up and innovative firms held in Ha Noi on Tuesday.
— Bizhub

Vietnam Climbs 25 Places in World Bank’s Logistics Index
Vietnam jumped 25 spots in the World Banks’s Logistics Performance Index 2018, ranking 39th among 160 countries.
— Vietnam Briefing

ThaiBev to ramp up Vietnam operations
AFTER posting disappointing Q3 results on Tuesday, Thai Beverage (ThaiBev) said on Wednesday evening it continued to remain optimistic about its growth in the upcoming quarters.
— Business Times

Vietnam arrests trans-national drug smuggler
Police of Vietnam’s central highlands Dak Lak province have detained a 38-year-old woman from northern Bac Kan province for transporting heroin from Laos to Vietnam.
— Xinhua

Chinese brands grab 39 percent of Vietnam smartphone market
Xiaomi and Huawei were the two fastest growing mobile phone brands in Vietnam in the second quarter, technology industry analyst Counterpoint reports.
— VnExpress

Deeper integration into global value chain
Exports have continued to be a spotlight in the economic picture this year. However, it requires sound strategies from enterprises and State management agencies to make Vietnamese exports closely connected to global value chains and have higher added values towards sustainable export growth.
— Nhan Dan Online

Asean prosecutorial professionals discuss issues of cybercrime
Some 68 prosecutorial professionals from ASEAN member states and China are convening for the 11th China-ASEAN Prosecutors-General Conference at The Rizqun International Hotel, Gadong.
— The Nation

MoIT leading in administrative procedure simplification
The Ministry of Industry and Trade (MoIT) is currently taking the lead in the removal of business conditions and goods from the list of those subject to specialised examination, according to a report of Prime Minister Nguyen Xuan Phuc’s working group.
— VietnamPlus

Phở named world’s 20th best food experience
Vietnamese phở has been named the world’s 20th best food experience by world travel guide book publisher the Lonely Planet.
— Viet Nam News

Building brand name for Vietnam’s coffee
Vietnam is one of the largest coffee producers in the world, earning more than 3 billion USD from the export of coffee bean each year, but the country mainly sells beans as material with low added value.
— VietnamPlus

Mumuso and likes getting away with gentle fines?
With their huge revenue from selling goods of unclear origins, the VND100-140 million ($4,400-6,200) administrative fines may not be enough to discourage stores like Mumuso.
— VietnamNet bridge

Vietnam Coast Guard asked to better support fishermen
President Tran Dai Quang requested that the Vietnam Coast Guard continue coordinating with the authorities of island communes and districts to provide more effective and practical assistance for fishermen, on August 15.
— Nhan Dan Online

Vietnam M&A Forum 2018 explores new drive for M&A
Titled “The Push of the Decade,” the first session of Vietnam M&A Forum 2018 explores the new driving force to boost the Vietnamese M&A market.
— VietnamNet Bridge

Vietnamese mobile game a hit in Korea, China app stores
A made-in-Vietnam mobile game has become very popular in South Korea and China, two major game markets in the world.
— VnExpress

Contest for start-ups in innovative, hi-tech agriculture announced
The Centre for Business Incubation of Agricultural High Technology has announced its annual “Innovation in Agricultural Production with Hi-tech” contest for start-ups and innovative projects.
— Viet Nam News

 

Feature photo Travis Hawk

 

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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