Vietnam Morning News For January 12

Banks cut interest on priority sector loans
The Bank for Foreign Trade of Viet Nam (Vietcombank) and the Agriculture and Rural Development Bank of Viet Nam (Agribank) announced on Wednesrday that they would cut interest rates on short-term loans in priority sectors this year.
— Bizhub

Vietnam negotiates trade pacts with 60 economies
Vietnam has been negotiating free trade agreements (FTAs) with around 60 economies worldwide, which currently occupy approximately 90% of Vietnam’s total trade revenue, heard a meeting in Hanoi, on January 11.
— Nhan Dan Online

Thai fruits and vegetables to flood Vietnamese market
Vietnam expects the volume of fruits and vegetables imported from Thailand to surge this year: import tariffs imposed on these products are reduced to zero percent.
— Fresh Plaza

R&D comes to forefront for local pharma sector
Vietnam’s top-three pharmaceutical firms will give priority to the research of new drugs this year to increase competitiveness amid stiffening competition from multinational corporations and new domestic rivals.
— VietnamNet Bridge

Vietnam Airlines gained impressive profits in 2017
The revenue and profit indicators of Vietnam Airlines Corporation showed growth as planned in 2017, the firm reported.
— Viet Nam News

Hanoi debuting scandal-plagued SOEs with executives in court
Vietnam National Oil and Gas Group (PetroVietnam or PVN) is sending three subsidiaries to market this month with initial public offerings (IPOs) that coincide with corruption trials involving former senior officials.
— Nikkei Asian Review

Hyundai considers plant in Vietnam or Indonesia
The Republic of Korea (RoK)’s Hyundai Motor said it is considering building a car plant in Southeast Asia with Indonesia and Vietnam being possible locations.
— VietnamNet Bridge

Binh Thuan pledges to roll out red carpet for investors
The south central coastal province of Binh Thuan always creates the optimal conditions for enterprises and investors to do business and develop sustainably in the locality, said a local official.
— VietnamPlus

City seeks more funds for metro lines 1, 2
HCM City authorities have proposed increasing capitalisation for the city’s first two metro lines as the projects continue to face a capital shortage.
— Bizhub

China objects to Vietnam’s call for Indian investment in South China Sea
China on Thursday objected to Vietnam’s invitation to India to invest in oil and natural gas sector in the disputed South China Sea, saying it is firmly opposed to infringement of its rights using development of bilateral ties as an “excuse”.
— Business Standard

Thai owner targets sale of 2bn liters of Vietnam’s Sabeco beer following acquisition
Thailand’s Beer Group, an indirect but wholly-owned unit of Thai Beverage, has set a sales target of two billion liters in 2018 for Sabeco, Vietnam’s largest brewer, since purchasing a controlling stake in the company at an auction last year.
— Tuoi Tre

Vietnam fashion industry suffers setback
Analysts say the golden age of Vietnam’s fashion industry is encountering difficulties amid the arrivals of foreign fashion brands.
— VietnamNet Bridge

Vietnam: Mekong-backed restaurants chain Red Wok acquires peer Quan Ut Ut
Mekong Capital-backed Vietnamese restaurants operator Red Wok Cuisine has acquired Quan Ut Ut Co Ltd, the owner of Quan Ut Ut Barbecue and BiaCraft restaurant chains, it announced on Thursday.
— DealStreetAsia

Climate change refugees imperil Vietnam’s growth
Climate change refugees are streaming out of Vietnam’s vital Mekong Delta agricultural region amid warnings of deep economic losses unless the government steps up its commitment to environmental sustainability.
— Asia Times

VN Index steady amidst rising profit earning
Viet Nam’s benchmark VN Index was steady on Thursday morning despite investors’ profit-making that hit large-cap stocks.
— Bizhub

Top events that marked Vietnam’s startup ecosystem in 2017
Thanks to growing consumption power, a tech savvy population and good Internet infrastructure, Vietnam is now actively blipping on the radar of venture capital investors who are scouting for deals in Southeast Asia.
— DealStreetAsia

Feature photo Simone D. McCourtie / World Bank

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