Vietnam morning news for July 31

Vietnam morning news for July 31

Vietnam morning newsVietnam: Crypto Mining Firm CEO Allegedly Flees With $35 Mln in Investor, Company Funds
The CEO of Vietnamese cryptocurrency mining firm Sky Mining has reportedly disappeared with investor and company funds worth an alleged $35 million, local media outlet VNExpress reported July 29.
— Coin Telegraph

Twenty Sentenced in Vietnam For Their Role in June 10 SEZ Protests
Twenty protesters went on trial on Monday and were quickly sentenced for their roles in June 10 protests in Vietnam’s Bien Hoa city, with prison terms handed out of from eight months up to one and a half years in prison, sources in the country said.
— Radio Free Asia

Industrial production maintains high growth of nearly 11% in 7 months
Viet Nam’s index of industrial production (IIP) scored a growth of 10.9 per cent in the first seven months of this year, up 7.1 per cent against the same period last year, the General Statistics Office announced.
— VietnamNet Bridge

Agro-forestry-fishery exports hit 22.2 billion USD in first seven months
The export turnover of agro-forestry-fishery products in July was estimated at 2.85 billion USD, bringing the total value in the first seven months of 2018 to 22.2 billion USD, a year-on-year rise of 7.8 percent.
— VietnamPlus

China demand likely drives Vietnam shrimp imports past $3bn
Vietnamese shrimp imports surged past $3 billion in 2017, with demand from China likely being the main driver.
— Undercurrent News

Northern Vietnam province wants dual-purpose airport near popular travel spot
Lao Cai Province in the northern highlands has proposed that an airport be built near Sa Pa, one of Vietnam’s top tourist attractions.
— VnExpress

Cashew businesses lack capital to continue operation
Shortage of capital is hampering the operation of many small cashew factories in Viet Nam.
— Bizhub

Fugitive spy jailed in Vietnam for ‘leaking state secrets’
A fugitive spy was jailed for nine years in Vietnam on Monday (Jul 30) for “divulging state secrets” after he tried to flee to Europe holding a forged passport in a rare case involving a high-ranking intelligence officer.
— Channel NewsAsia

Transfer pricing – a challenge to Vietnam’s tax authorities
Over the past 30 years, foreign-invested companies have been given many incentives and have become a major drive of Vietnam’s economy.
— Nhan Dan Online

Vietjet Air posts 26% increase in profit in 6 months
Vietjet Air announced its business results in the second quarter of 2018 with robust growth in core business activities including air transport and ancillary revenue.
— The Hanoi Times

PM urges Vietnamese agriculture to be among the world’s top 15 in next decade
Prime Minister Nguyen Xuan Phuc has ordered the agricultural sector to reach the top 15 most developed countries in the world in the next 10 years, with its agricultural product processing ranked in the top 10.
— Nhan Dan Online

14 killed in Vietnam wedding party car crash
Fourteen members of the same family were killed in a car crash in central Vietnam on Monday (Jul 30) en route to a wedding party, including the groom who died instantly when their van hit a container truck, police said.
— Channel NewsAsia

Vietnam Received 9 Million Tourists in Seven Months
If Vietnam follows the pace set from January to July this year, when it received nine million foreign tourists, it will safely reach a record level of 15 million before December 31, an official source confirmed today.
— Prensa Latina

Property investors look to fast-growing Vietnam
VIETNAM is becoming the region’s magnet for property developers and buyers as housing prices in the neighbouring Chinese mainland and Hong Kong markets continue to shoot higher.
— The Nation

US continues to be key export market for Việt Nam
The United States has maintained its leading position as Việt Nam’s largest export market having spent US$21.6 billion on Vietnamese products in the first half of the year, accounting for 19 per cent of the country’s total export value as of July 15.
— Viet Nam News

VN-Index rises, but liquidity remains low
The VN-Index rose by 14.21 points to reach 949.73 points on July 30, with the majority of codes enjoying increases.
— VietnamNet Bridge

Chinese visitors to Vietnam surge in January-July
Vietnam welcomed nearly 3 million Chinese visitors between January and July, or 32.7 percent of the total international arrivals, posting a year-on-year rise of 34.1 percent, the Vietnam National Administration of Tourism said on Monday.
— Xinhua

Vietnam budget overspending reaches US$1.5 billion in 7 months
Vietnam`s state budget revenue is estimated to reduce by some VND30.15 trillion (US$1.32 billion) this year as the country has to remove multiple tariffs under signed free trade agreements (FTAs), according to the Vietnam Customs.
— The Hanoi Times

Leading fast food brands in Vietnam report consecutive losses
For many years, both KFC Vietnam and Lotteria Vietnam, and to a lesser extent Jollibee, posted revenues of millions of USD but still sustained losses.
— The Hanoi Times

Tourism booming but stock market takes little notice
At the close on July 20 the share price of Tay Ninh Cable Car Tour Joint Stock Company (TCT) stood at VND67,000, slightly up for the year but with a gain of 40 per cent from a year ago.
— VietnamNet Bridge

Foreign investors target Vietnam’s huge sports betting market
Since sports betting has been legalized, foreign investors are scrambling to build racecourses in Vietnam.
— VnExpress

First Vietnam entertainment focused-fund makes debut
For a population of over 100 million, of which the majority is at young age, Vietnam Entertainment Fund (VEF) reckons Vietnam has huge potential for the entertainment sector.
— The Hanoi Times

Moody’s: Vietnam’s banks show diverging capital profiles
The profitability of Vietnamese banks is strengthening as robust economic growth fuels credit demand and supports an improvement in asset quality, but challenges are also apparent, Moody’s Investors Service says in a recent report.
— Bizhub

VAMC helps bring ratio of non-performing loans to under 3 percent
The ratio of the non-performing loans (NPLs) at commercial banks fell from 3.61 percent at the end of 2013 to 2.18 percent at present, according to Chairman of the Vietnam Asset Management Company (VAMC) Nguyen Tien Dong.
— VietnamPlus

HCM City, Los Angeles establish sustainable economic alliance
Ho Chi Minh City and Los Angeles have established an economic alliance to promote the cooperation and sharing of information in solar energy development and infrastructure investment.
— Nhan Dan Online


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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.


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Sreypov Men recently completed a course of study in International Relations at the Institute of Foreign Languages.

She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018

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