Vietnam Morning News For January 23

Demand for beef up in Vietnam
Vietnam paid 410 million USD for imported beef last year due to increasing demand, according to the Ministry of Agriculture and Rural Development.
— VietnamPlus

Thailand’s SCG makes bid to fully acquire Vietnam’s Long Son Petrochemicals complex
Thai industrial conglomerate Siam Cement Group (SCG) has proposed to acquire the 29 per cent stake in Vientam’s Long Son Petrochemicals (LSP) Complex that it does not currently own from Vietnam Oil and Gas Group (PetroVietnam).
— DealStreetAsia

Vietnam’s Habeco stake to be sold at market price without ‘discounts’
Carlsberg A/S, the Danish brewer negotiating to buy a majority stake in Hanoi Beer Alcohol Beverage Corp., must pay market price if it wants to acquire Vietnam’s second-largest beer maker.
— DealStreetAsia

Former Vietnam politburo member gets 13 years in jail
A court in Vietnam on Monday sentenced a former politburo official to 13 years in prison and another high-profile energy official to life imprisonment for embezzlement and violating state rules, in a corruption crackdown, state media said.
— Nikkei Asian Review

Vietnam gears up to develop a digital economy
The vigorous growth of the internet and technology in Vietnam is expected to provide a platform to support the development of a digital economy.
— VietnamNet Bridge

Viglacera to reduce State holding to 36 percent
Viglacera Corporation JSC (Viglacera) plans to reduce its State ownership to 36 percent this year, said Luyen Cong Minh, executive chairman of the corporation.
— VietnamPlus

Association proposes stopping temporary import of sugar
The Viet Nam Sugar and Sugarcane Association has proposed to the Prime Minister not to allow an extension for temporary sugar imports for re-export as the sweet industry was struggling with high stockpiles and slumping prices due to illegally imported sugar.
— Bizhub

VPBank posts $356.6 million pre-tax profit
Viet Nam Prosperity Joint Stock Commercial Bank (VPBank) posted a pre-tax profit of more than VNÐ8.1 trillion (US$356.6 million) in 2017, registering a 65 per cent year-on-year increase.
— Viet Nam News

Finance ministry tightens casino supervision
Casino establishments in Vietnam must soon equip their venues with features like a working camera system to aid the Ministry of Finance (MoF) in supervising the casinos’ operation, as part of the ministry’s plans to legalise casino activities for Vietnamese people.
— VietnamPlus

Vietnam plans 6.5 times more sales of stakes in state companies
Vietnam is dramatically accelerating sales of stakes in state-owned companies to boost revenue and ease a strained budget, while seeking to exceed its economic growth target this year.
— DealStreetAsia

Vietnam’s garment workers dangling on a thread at bottom of income divide: Oxfam
Vietnam’s garment sector accounts for the country’s largest workforce, but many of its employees are forced to work hard to fill the pockets of rich shareholders, Oxfam has said in a new report on the global inequality crisis.
— VnExpress

VN’s FTAs: Boon or Bane?
As 2018 brings newer and bigger free trade agreements (FTAs), Vietnamese enterprises are faced with tough choices. They can either adapt and move up the global supply chain, or stand by while imported goods flood the country’s market.
— Bizhub

Uber appoints new leaders for Vietnam, Cambodia, Myanmar markets
US ride-hailing major Uber has appointed two new members to its Asia Pacific’s leadership team as a part of its plan to improve service quality in Vietnam, Cambodia and Myanmar, according to its latest statement today.
— DealStreetAsia

Vietnam’s industrial parks ready to take off
THE STRONG development of industrial parks would make a large contribution to the domestic property market, according to experts.
— The Nation

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