Vietnam Morning News For July 13

Coal, oil and gas mining exceed six-month targets
Crude oil output reached 7.1 million tonnes in the first six months of this year and in doing so hit 54.3 per cent of the annual target.
— Bizhub

State Audit suggests financial prosecutions of nearly VND23 trillion
The State Audit Office of Vietnam (SAV) has detected and proposed VND22,669 billion (US$974.76 million) worth of financial prosecutions in the first six months of 2018.
— Nhan Dan Online

Vietnam to upgrade runways of two int’l airports
Vietnam mulled upgrading runways at Noi Bai international airport in Hanoi and Tan Son Nhat international airport in Ho Chi Minh City, to ensure aviation safety, the Transport Ministry said on Thursday.
— Xinhua

Vietnam posts US$800 mln trade surplus in June – Customs
Vietnam posted an US$800-million trade surplus in June, much higher than a government estimate of a US$100 million deficit for the month, customs data showed on Thursday.
— New Straits Times

The next generation for the textile industry
The textile and apparel industry was defined as a field with one of the highest growth rates potentials over the next 12 years.
— Viet Nam News

After Pompeo visit, Vietnam to put American beaten and held on trial
Vietnam has ordered that an American man beaten by police and now detained for a month to stand trial, even after Secretary of State Mike Pompeo brought up his case during a visit there this week.
— ABC News

Vietnam disciplines communications minister over pay TV deal
The ruling Communist Party of Vietnam disciplined the country’s communications minister Thursday for approving a mobile phone operator’s purchase of a stake in a private pay TV provider, a deal that caused serious financial losses to the state.
— The News Tribune

Vietnam boosts its exports to ASEAN
Two and a half years after the ASEAN Economic Community was established, enterprises in Vietnam have found a way to capitalise on the bloc’s import tariff cuts and expand their exports, helping to narrow the years-long trade deficit between Vietnam and ASEAN.
— Nhan Dan Online

Businesses willing to pay more for mobile ads
Although the mobile advertisement market in Vietnam is still modest as compared to regional countries, businesses are said to splash out 200 million USD on advertisement on mobile platform in 2020, much higher than the amount of 78 million USD recorded in 2017.
— VietnamPlus

Frasers Property unit takes 75% stake in Vietnam property development company
MULTINATIONAL property company, Frasers Property, said on Thursday that it will be spending 799 billion dong (S$47,3 million) for a majority stake in Phu An Dien Real Estate Joint Stock Company (PAD), which will undertake the development of a residential-cum-commercial project in Vietnam.
— Business Times

Sabeco projects profit down 19% in 2018
With Thaibev being a major shareholder of Saigon Beer Alcohol Beverage Corp (Sabeco), Vietnam`s largest domestic brewer considers 2018 to be a turning point for its next development phase, said the company.
— The Hanoi Times

Ministry to hold trade activities to promote longan consumption
Many trade activities will be launched in the coming time to promote the consumption and export of fresh longan, said the Department of Farm Produce Processing and Market Development under the Ministry of Agriculture and Rural Development (MARD).
— VietnamPlus

How will Vietnam deal with a 10-year crisis cycle?
Vietnam will have solutions to restrict the effects of any future global economic downturn, according to General Statistics Office’s director Nguyen Bich Lam.
— VietNamNet Bridge

Vietnam raises reference exchange rate
Vietnam’s central bank on Thursday adjusted up its reference exchange rate between Vietnamese dong and U.S. dollar by 5 Vietnamese dong to 22,652 Vietnamese dong per U.S. dollar.
— Xinhua

Vietnam upgrades navy MRO capabilities
Vietnam’s state-run media has published details of the work the country’s Ministry of National Defence (MND) is doing to modernise the country’s naval maintenance, repair, and overhaul (MRO) capabilities.
— Janes

Vietnam launches volunteer campaign to clean the sea
A volunteer driven campaign titled “Clean the Sea” has been launched to raise community awareness of the importance of the sea and to encourage actions to protect the marine environment.
— Nhan Dan Online

Smaller, below the radar Vietnam firms go hi-tech as needed
Small companies see Industry 4.0 not as an image booster, but as a tool to meet customers’ specific requirements.
— VnExpress

Korean footwear firms to increase investment in Vietnam
Footwear enterprises from the Republic of Korea are operating effectively in Vietnam and their investment flows to the country are expected to increase strongly once the EU-Vietnam Free Trade Agreement is signed.
— Nhan Dan Online

US firms appreciate Viet Nam’s investment environment
Viet Nam’s business environment has improved significantly, especially its competitiveness, said representatives of US businesses in the US-ASEAN Business Council (USABC).
— Bizhub

Vietnam facilitates US enterprises to invest in agriculture
Minister-Chairman of the Government Office, Mai Tien Dung, hosted a reception for a business delegation from the US-ASEAN Business Council (USABC), led by Senior Vice President and Regional Managing Director Michael Michalak, in Hanoi on July 11.
— Nhan Dan Online

VASEP urges strict quality control for tra fish exports to China
The Vietnam Association of Seafood Exporters and Producers (VASEP) has urged domestic enterprises to maintain strict quality control of aquatic products exported to China amid the recently accelerated growth of tra fish exports to this market.
— Bizhub

Vietnam veteran reflects on damage, healing on anniversary of devastating Burlington floods
One year ago, Burlington was underwater. Rains pounded all of the area, with record flooding devastating lives.
— TMJ 4

H1 car imports slow down to a crawl in Vietnam
Tough regulations have slowed down car imports, advancing the government’s aim of a more level playing field between importers and local assemblers.
— VnExpress

MoIT assists firms in brand building for safe food
Food products must be certified as safe by national or international agencies in addition to building brand awareness to win trust from customers, experts said at a workshop on the morning of July 12.
— Nhan Dan Online

VN’s auto industry at crossroads: report
Viet Nam’s automobile industry is at cross roads, lagging behind ASEAN competitors, according to a report launched by the International Finance Corporation (IFC) and the Ministry of Planning and Investment (MPI) early this week.
— Bizhub

Vietnam calls for science-technology experts
Vietnam continues the call for more incentives for experts, scientists, as well as domestic and international enterprises to accompany the country in its adoption of the Fourth Industrial Revolution (Industry 4.0), stated Prime Minister Nguyen Xuan Phuc.
— Nhan Dan Online

Industry 4.0 Summit Expo 2018 opened
The Industry 4.0 Summit Expo 2018 was opened in Ha Noi on Thursday.
— Bizhub

Feature photo Justin Jensen

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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.