Vietnam Morning News For August 6

Ministry asks for land review for equitisation
State-owned businesses must undergo an urgent review of their assets before they can be equitised over the next two years.
— Viet Nam News

Vietnam to restrict import of scrap
The General Department of Vietnam Customs will study and submit to the Ministry of Finance a proposal to the Government to restrict imports of scrap materials and move towards a ban on scrap imports to Vietnam.
— VietnamPlus

Legal corridor needed for digital industry
The fourth industrial revolution offers many opportunities for Viet Nam, but also poses a number of challenges.
— Bizhub

Vietnam’s highway network is expanding
Vietnam is expanding its road and highway network with a series of major projects, as well as numerous upgrades to rural roads.
— World Highways

PM tells authorities to investigate tax evasion
Prime Minister Nguyen Xuan Phuc has assigned the Ministry of Finance (MOF) and General Department of Taxation (GDT) to study media reports on transfer pricing of foreign direct investment (FDI) enterprises and tax policy.
— VietnamPlus

Vietnam inches towards auto standards
Thailand and Vietnam have agreed in principle to push forward a mutual recognition agreement (MRA) on automotive standards, as Thailand tries to persuade Vietnam to scrap its car import barriers.
— Bangkok Post

Vietnam, Thailand discuss ways to achieve US$20 billion in trade
The third meeting of the Vietnam-Thailand Joint Trade Committee opened on August 2 in Hanoi with the aim of enhancing bilateral economic and trade cooperation.
— Inquirer.net

ID numbers for tra fish allow for trace of origin
The Mekong Delta province of Dong Thap has issued identification numbers to ponds that breed tra fish under a government decree on aquaculture management that went into effect last July.
— Nhan Dan Online

Hanoi to breathe easier by banning bikes
The city of Hanoi is choking in air pollution and its city council hopes to reduce it by banning motorcycles from the inner city by 2030. The city aims to remove some 2.5 million old motorcycles from its streets between now and 2020.
— The Asean Post

Vietnam exports 1.8 million tonnes of petroleum in first seven months
Vietnam shipped 200,000 tonnes of petroleum in July, raising the total volume of exported petrol in the first seven months of 2018 to 1.8 million tonnes, bringing in US$1.14 billion.
— Nhan Dan Online

Five major SOEs to be restructured
The Prime Minister has approved the restructuring plans for five of the six major State-owned enterprises (SOEs), and two large corporations under his jurisdiction, in the first half this year.
— Nhan Dan Online

HCM City port overloaded, authorities seek to popularise others
The Ministry of Transport has announced plans to limit the cargo handled at HCM City’s Cat Lai Port since volumes are exceeding its handling capacity, exerting pressure on the city’s transport infrastructure.
— Bizhub

Seafood exports fetch 4.63 billion USD in seven months
Vietnam’s seafood export value in the first seven months of 2018 was estimated at 4.63 billion USD, up 6.3 percent over the same period last year, according to the Ministry of Agriculture and Rural Development (MARD).
— VietnamPlus

Viet Nam takes action to remove EC yellow card on fisheries
Deputy Prime Minister Trinh Dinh Dung has said that convincing the European Commission (EC) to remove a “yellow card” warning on Vietnamese seafood was of particular importance for the Government, ministries, agencies and localities.
— Bizhub

Foreign giants start targeting Vietnam’s energy market
Foreign investment in liquefied natural gas-fuelled power projects will help Vietnam meet the increasing energy demands with reasonable prices while still ensuring the environment protection.
— The Hanoi Times

Vietnam’s response to China’s militarized fishing fleet
China has long been infamous for incorporating maritime militias into its fishing industry to assert its sovereignty claims.
— Taiwan News

Regulations needed to ensure condotel investors’ rights: Assoc.
The government has no specific regulations for maintenance and management of the condotel model which has seen a boom over the past several years.
— The Hanoi Times

Experts talk trade in Ho Chi Minh City
Ho Chi Minh City’s Department of Industry and Trade met with more than 50 experts, researchers and business leaders at a meeting on August 3 to discuss solutions to develop the city’s main products in the trading and services sector.
— VietnamPlus

Companies similar to Mumuso in Vietnam under scrutiny
An investigation of the Ministry of Industry and Trade (MoIT) concluded that 99.3% or 2,257 out of the total 2,273 products sold by the self-claimed-Korean-brand Mumuso Vietnam were imported from China.
— The Hanoi Times

Reactionary ‘red flags’ tilt Vietnam to the Alt-right
The Facebook page of Nguyen Thanh Tuan, a retired lieutenant general in the Vietnamese military, seethes with his critical commentary of the newly released book Gạc Ma: Vòng Tròn Bất Tử, a historical account of China’s annexation from Vietnam of the Spratly Islands in the South China Sea.
— Asia Times

Reform policies needed to lure foreign investments in Vietnam’s consumer finance
Consumer finance has ample room for growth in Vietnam, however, it is necessary to improve the policy framework to make the sector more attractive to foreign investors, experts said.
— The Hanoi Times

Hanoi firms to attend Asia Fruit Logistica 2018
Fruit and vegetable enterprises representing Hanoi will attend the “Asia Fruit Logistica 2018” at the AsiaWorld-Expo in Hong Kong (China) on September 5-7.
— Nhan Dan Online

Vietnam’s bad debt ratio unlikely to drop below 3% by 2020: Ministry
The Ministry of Planning and Investment (MPI) considered the target of “having 12 – 15 commercial banks meet Basel II standards by 2020” as feasible.
— The Hanoi Times

U.S. citizen thought missing in Vietnam reportedly detained by government
A U.S. citizen of Vietnamese descent who had gone missing in Vietnam in early July has been under detention in the communist country for almost a month, according to his family and a member of Congress.
— NBC News

No light-box sign needed for Grabcar: transport ministry
The application of technology to the management and connection of electronic contract-based passenger transportation has created more options for passengers, providing information on drivers, fares, among others, according to the Vietnamese Ministry of Transport.
— The Hanoi Times

Vietnam’s HCM City to host international marathon to promote tourism in January
An international marathon will be held here on January 13, 2019 with runners from nearly 50 countries and regions participating, the city’s municipal Department of Culture and Sports said on Sunday.
— Xinhua

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.