Vietnam Morning News For February 6

Vietnam sets up $220 bln committee to boost privatisation
Vietnam said on Monday it has set up a committee to oversee around 5,000 trillion dong ($220 billion) worth of government assets in companies as part of an effort to boost privatisation.
— Reuters

Vietnam sees solar power construction boom as nation goes green
Numerous projects to build large solar power facilities are underway in Vietnam, as the country scrambles to make up for the anticipated power shortage due to the recent cancellation of nuclear power plant construction projects.
— Nikkei Asian Review

Vietnam to sell shares of major rice exporter Vinafood 2 in March
Vietnam will sell state stake in the Southern Food Corporation (Vinafood 2) through an initial public offering (IPO) on March 14.
— The Hanoi Times

Moody’s shows optimism about bad debt resolution in Vietnam’s banks
Some Vietnamese banks have made meaningful progress in the resolution of legacy problem assets, a positive credit for the sector, Moody’s said on Monday.
— Bizhub

Vietnam’s footwear sector likely to attract FDI in 2018
The Vietnam Leather, Footwear and Handbag Association (LEFASO) has invited Skechers, a major footwear manufacturer in California, to study the possibility of investing in the country’s northern province of Hai Duong, according to association chairman Nguyen Duc Thuan, who is also the chairman of the TBS Group based in the southern province of Binh Duong.
— Fibre2fashion

Local communities voice their frustrations on the Hoi Xuan dam in Vietnam
Vietnam is undertaking a massive dam building strategy that will displace almost 200,000 people and affect many more thousands living in downstream areas.
— Mekong Commons

Lotte Accelerator to expand investment in Vietnamese starups this year
South Korean startup booster Lotte Accelerator will expand and diversify its investment capital in Vietnam’s startup ecosystem this year, said Jin Sung Rhee, CEO of Lotte Accelerator at Demo Day event held by Vietnam Silicon Valley (VSV) on February 1.
— DealStreetAsia

Vietnamese corrupt corporate official gets second life sentence
Trinh Xuan Thanh, former chairman of the Board of Directors of state-owned PetroVietnam Construction Corporation (PVC), on Monday was sentenced life behind bars on the charge of asset embezzlement at PetroVietnam Power Land Company (PVP Land).
— Xinhua

State Capital Management Committee officially launched
The government issued on February 3 Resolution No. 09 on the establishment of the State Capital Management Committee.
— The Hanoi Times

Viet Nam, Cambodia’s bilateral trade surged 30% in 2017
Bilateral trade between Viet Nam and Cambodia last year surged 29.7 per cent against the previous year to nearly US$3.8 billion, the General Department of Customs reported.
— Bizhub

Samsung Display Vietnam estimates 2017 profit at US$1 billion
The profit of Samsung Display Vietnam Co., Ltd.(SDV) was estimated at some US$1 billion last year.
— The Hanoi Times

Tien Giang earns 220 million USD in January’s exports
The Mekong Delta province of Tien Giang earned 220 million USD in exports in January, a rise of 9.2 percent year on year, according to Director of the provincial Department of Industry and Trade Ngo Van Tuan.
— VietnamPlus

Vietnam, RoK look towards $100 billion trade by 2020
Representatives from Vietnam and the Republic of Korea (RoK) have discussed measures to foster bilateral trade ties, towards a target of 100 billion USD in two-way trade by 2020.
— VietnamNet Bridge

Cat Bi International Airport eyes expansion by private capital
The People’s Committee of Hai Phong City has proposed to build the second passenger terminal at Cat Bi International Airport by using public private partnership (PPP) funds in combination with other forms of investment.
— The Hanoi Times

Vietnamese investors prosper in Laos, Cambodia, Myanmar
Vietnam’s outward foreign direct investment (OFDI) is expected to continue to increase rapidly in Laos, Cambodia and Myanmar.
— VietnamNet Bridge

Cuba promoted as potential market for Vietnamese firms
A seminar was held in Ho Chi Minh City on February 5, introducing Cuba as a potential market, in terms of both trade and investment, for Vietnamese businesses.
— VietnamPlus

World’s longest sea cable car route launched in Kien Giang Province
The world’s longest sea cable car route connecting An Thoi Town and Hon Thom Island in the southern province of Kien Giang’s Phu Quoc Island District was inaugurated yesterday, reducing travel time by half compared to speed boats.
— Bizhub

Chinese top foreign arrivals in HCM City
Chinese have for the first time become the largest group of international visitors to HCM City, according to the municipal Department of Tourism.
— VietnamPlus

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