Vietnam Morning News For August 21

Vietnam Controls Inflation, Avoids Broader Economic Fallout
Vietnam is trying to get a grip on inflation that might otherwise threaten its quick economic growth again as it did a decade ago, analysts and domestic media say.
— VOA

Tuna exports likely to hit $500m in 2018
Viet Nam’s tuna export revenue is likely to reach the target of US$500 million in 2018 after hitting $351 million in the first seven months of this year, while growth has been seen in the majority of markets.
— VietnamPlus

Ministry rejects proposal to raise plane ticket prices in 2018
In its urgent document to the Civil Aviation Authority of Vietnam and three carriers, the Ministry of Transport ordered not to increase plane ticket prices in 2018.
— VietnamNet Bridge

Vietnam to invest over 202 mln USD to buy new locomotives, carriages
Vietnam Railways, the state-owned operator of Vietnam’s railway networks, said on Monday that it has planned to invest over 202 million U.S. dollars in purchasing 100 new locomotives and 950 new carriages from now to 2020.
— Xinhua

Cabinet members debate amendments on Law on Public Investment
Prime Minister Nguyễn Xuân Phúc on Thursday chaired the cabinet’s regular meeting on the development of institutions. The discussion focused on the revised Law on Public Investment which amends and supplements a number of articles of laws relating to the Planning Law.
— Vietnam Times

Malaysia makes record US$12mil rhino horn seizure
Malaysia has made a record seizure of 50 rhino horns worth an estimated US$12mil at the Kuala Lumpur airport as they were being flown to Vietnam, authorities said Monday.
— The Star Online

FTI: Vietnam’s red tape to persevere
The Federation of Thai Industries (FTI) expects Thailand’s car shipments to Vietnam to continue affecting all carmakers, even after both governments resolved to tackle obstacles posed by Vietnam’s non-tariff.
— Bangkok Post

FAO, ECTAD finance biosecurity practices in Vietnam poultry farms
Financial support from the FAO and its Emergency Centre for Transboundary Animal Diseases (ECTAD) has funded improved biosecurity practices of poultry farms and hatcheries in Vietnam.
— Animal Pharm

B. Grimm Power acquires 80% stake in Vietnam’s 257MW solar project
Thai energy firm B. Grimm Power’s subsidiary has signed a share purchase agreement to co-invest in a 257MW solar power plant project located at Phu Yen province in Vietnam.
— Power Technology

Zara, H&M report high revenues in Vietnam
For a population of nearly 100 million, of which the majority is at young age and with a steady growth of income per capita, Vietnam is considered potential market for fashion retailers.
— The Hanoi Times

NDA Trade Delegation Visited Vietnam For Talks About Beef
A trade delegation led by the Nebraska Department of Agriculture recently visited Vietnam to promote Nebraska agriculture and talk with potential trade partners of Nebraska beef products. The trip to Vietnam took place the week of August 6.
— NET

2-3 typhoons forecast to hit Vietnam in coming months
There will be five to six typhoons and tropical depressions in the South China Sea from now to the end of this year, of which two to three are likely to make landfall in Vietnam, the country’s National Center for Hydro-Meteorological Forecasting said on Monday.
— Xinhua

Vietnam food firm plans to sell 11 pct stake to Sojitz for up to $35 mln
Vietnamese food and agricultural firm PAN Group JSC said on Monday it was planning to raise at least 817.3 billion dong ($35.09 million) by selling an 11 percent stake to Japan’s Sojitz.
— Reuters

VIETNAM SCRAPS PROPOSED MY XUAN PORT
Vietnam has decided to scrap the proposed $477m My Xuan port, citing delays in construction, according to official media.
— Port Strategy

Việt Nam needs a public transaction floor for bad debts
Nguyễn Trí Hiếu, a banking expert, tells Hải Quan (Customs) newspaper that the Government should appoint an agency to develop an official transaction floor for buying and selling debt.
— Viet Nam News

Vietnam’s Kienlongbank adds JCB credit card
In Vietnam, where 80% to 90% of transactions are still conducted in cash, Kienlongbank is the latest to announce a credit card for Vietnamese consumers who shop and travel internationally.
— Payments Source

Farmed chicken price falls, as problems come home to roost
The price of industrially-farmed chicken in Việt Nam’s southern region has dropped as businesses imported too many chicken products from foreign countries.
— Viet Nam News

Senior CPC official calls on China, Vietnam to turn consensus into actions
Senior Communist Party of China (CPC) official Wang Huning held talks with Tran Quoc Vuong, Politburo member and permanent member of the Communist Party of Vietnam (CPV) Central Committee’s Secretariat, in Beijing on Monday.
— Xinhua

Great hope for organic food in Vietnam
The shortage of organic foods in the country is both an opportunity and a challenge for growers, a forum on organic agricultural development was told on August 18.
— VietnamNet Bridge

Elumis Foundation, a Charity Formed by Children, Donates 1,000 Solar Electricity Kits in Vietnam
The Elumis Foundation Inc., a United States based nonprofit 501(c)3 charitable organization donated 1,000 solar powered electricity kits in the Mekong Delta region of Vietnam. The donations were made in the provinces of Ca Mau, Bac Lieu, Ben Tre, Vinh Long, and Phu Yen.
— AEC News Today/ PR Newswire (media release)

No grounds for property crisis now, says HoREA
Following worries that the property market is entering a ten-year crisis cycle, a representative of the HCMC Real Estate Association (HoREA) said there are not sufficient grounds to conclude that a property crisis will recur.
— VietnamNet Bridge

FLC launches Bamboo Airways
Bamboo Airways’ first flights are scheduled for October and the airline plans to open 37 domestic and international routes in the future.
— Bizhub

Agriculture restructuring help optimise strength of sectors, localities
After five years of restructuring, the agricultural sector has recorded numerous achievements in improving its production structure and effectiveness, while the strength of each locality has been optimised and many major agricultural products improved their competitiveness in the market.
— VietnamPlus

Innovation network launched in Ha Noi
The Programme of Connecting Viet Nam Innovation Network 2018, which gathers hundreds of talented Vietnamese in the fields of science and technology, was launched in Ha Noi on Sunday.
— Bizhub

SBV to divert more credits to eco-friendly projects
The State Bank of Vietnam (SBV) has issued Decision No.1604/QD-NHNN, approving a scheme on developing green banks in the country by using credit to back eco-friendly projects, with the aim of raising awareness of local banks on the social responsibility in fighting climate change, reported the local media.
— Vietnam Times

Vietnam banks struggle with credit growth limits
According to economists, some banks could struggle with liquidity in a certain period under the current credit growth limit, especially in a peak period by the end of the fourth quarter.
— The Hanoi Times

Bac Ninh licenses 116 FDI projects in seven months
The northern province of Bac Ninh licensed 116 new foreign direct investment (FDI) projects worth US$332.5 million in the first seven months of 2018, according to the provincial Department of Planning and Investment.
— Bizhub

Foreign players dominate Vietnam’s animal feed market
Despite accounting for some 65 percent of Vietnam’s market share, foreign animal feed producers are continuously expanding production to further dominate the country’s fertile market.
— VietnamNet Bridge

VN-Cuba joint venture to produce detergents near Havana
Suchel TBV S.A., a joint venture between Viet Nam and Cuba, has received approval from the Cuban Government to build a detergent plant in the Mariel Special Development Zone (ZEDM), according to the Cuban News Agency (ACN).
— Bizhub

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