Vietnam Morning News For June 29

GM to transfer Vietnam operation to Vingroup’s car arm, eyes sales boost
General Motors (GM.N) has agreed to transfer its Vietnamese operation to VinFast Trading and Production LLC and distribute Chevrolet cars through the local carmaker, in a move that could help drive up its modest sales in the country.
— Reuters

Vietnam’s agro – forestry – fishery exports hit over US$19 billion in 6 months
Vietnam`s agro – forestry – fishery export turnover in June came at US$3.45 billion, taking the total export turnover in the first six months to US$19.4 billion, up 12% year on year, according to the Ministry of Agricultural & Rural Development (MARD).
— The Hanoi Times

Vietnamese securities firm sends sensitive image in emails to customers
It seemed like the company’s staff were ‘doing two things at a time,’ emailing customers while admiring the ‘sensitive’ photo.
— Tuoi Tre

Vietnam has first-ever robot-assisted kidney removal surgery
Vietnamese doctors have, for the first time, performed a kidney removal with assistance of robot, Vietnam News Agency reported Thursday.
— Xinhua

Commentary: When a T-shirt riles up an old dispute, Vietnam takes the high road
Vietnam has been quietly and confidently managing potentially explosive incidents involving T-shirts and maps around disputed territories and waters, says one observer from Wikistrat.
— Channel NewsAsia

Import-exports to go up by 13 percent
Vietnam’s total import and export turnover in the first six months of 2018 is estimated to hit 225.29 billion USD, showing a year-on-year rise of 13 percent, according to the General Department of Customs.
— VietnamPlus

Vietnam’s fruit, veggie export to China up in first half of 2018
Vietnam gained 1.2 billion U.S. dollars from exporting fruits and vegetables to China in the first half of this year, seeing a year-on-year rise of 18.1 percent, according to the Vietnamese Ministry of Industry and Trade on Thursday.
— Xinhua

Vietnam’s rice exports surge 42% in first half of 2018
Rice exports brought in US$1.81 billion for Vietnam in the first six months of 2018, up 42% over the same period last year, the Ministry of Agriculture and Rural Development has reported.
— Nhan Dan Online

Efficient budget spending – an alternative for VAT rate hike
The Ministry of Finance (MoF)`s proposal on hiking the value added tax (VAT) rate is expected to have a major impact on low-income earners, for which experts suggested improving state spending`s efficiency as an alternative.
— The Hanoi Times

Textile industry expects high growth rate
The textile and apparel industry was defined as a field with one of the highest growth rates over the next 12 years.
— Bizhub

IMF willing to support Vietnam to achieve higher average income
The International Monetary Fund (IMF) hopes it would support Vietnam to become a country with higher average income and even high income in the next decade, said Changyong Rhee, Director of the IMF’s Asia and Pacific Department.
— VietnamPlus

Japan returns to top spot as Vietnam’s largest foreign investor
Japan channeled US$6.47 billion into Vietnam during the first six months of 2018, accounting for 26.45 percent of the country’s total foreign direct investment.
— Tuoi Tre

FDI-based technological transfer target fails to meet expectations
Over the past 30 years of luring foreign direct investment, though several local firms have been able to learn from the technology of their foreign partners, Vietnam’s overall target of alluring high technology from foreign firms has remained far behind expectations.
— Nhan Dan Online

Vietnam calls for calm negotiations over maritime conduct
Avoid complicating issues, Vietnam urges as ASEAN, China work on code of conduct in the South China Sea.
— VnExpress

Manufacturing firms perform better in Q2
Up to 82.6% of the processing and manufacturing enterprises said they enjoyed a more stable and better business operation in the second quarter of the year, according to the General Statistics Office of Vietnam.
— Nhan Dan Online

Japan to help Vietnam get a better grasp of land prices
Japan hopes to pave the way for its companies in Vietnam and other Asian markets by exporting techniques for real estate appraisal, creating opportunities by fostering urbanization and financial industries.
— Nikkei Asian Review (paywall)

ADB President visits Da Nang Business Incubation Centre
President of the Asian Development Bank (ADB), Takehiko Nakao, hailed the efforts made by the Da Nang city authorities in building a vibrant start-up environment, during his visit to the Da Nang Business Incubator (DNES), on June 27.
— Nhan Dan Online

Deputy PM discusses trade, investment with US officials
Deputy Prime Minister Vuong Dinh Hue said that the economic, trade and investment cooperation was the focus and driving force of Viet Nam’s relationship with the United States.
— Bizhub

Ayala Group to build $493M wind power plant in Vietnam
The Quang Binh provincial government of Vietnam has signed a memorandum of understanding with the Ayala Group for a 352-megawatts (MW) wind energy project in the region estimated to cost up to $493 million.
— Malaya

ADB supports Vietnamese innovative startups for Mekong tourism development
Mekong Innovative Startups in Tourism (MIST), an initiative supported by the Asian Development Bank (ADB) and the Australian Government, has announced its support for ten innovative travel and hospitality companies in 2018.
— Nhan Dan Online

World Bank, IMF promise more support for Việt Nam
Deputy Prime Minister Vuong Dinh Hue met Kristalina Georgieva, CEO of the World Bank, and Mitsuhiro Furusawa, Deputy Managing Director of the International Monetary Fund, during his visit to the United States from June 25-27.
— Bizhub

What’s Next for Vietnam-Brunei Navy Ties?
A recent bilateral interaction put the growing maritime relations between the two countries in the spotlight.
— The Diplomat (paywall)

Ha Noi and Fukuoka boost agricultural cooperation
Ha Noi City and Japan’s Fukuoka prefecture exchanged experiences in agricultural development at an agricultural co-operation promotion workshop today in the capital city.
— Bizhub

Feature photo Michel Coutty

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