Vietnam Morning News For March 27

Mechanical engineering sector to lift exports by 2020
Vietnam’s mechanical engineering industry is striving to apply advanced technology, produce high-quality products meeting international standards and join the global value chain by 2035.
— VietnamPlus

Banks seek expats for leading roles
Vietnam’s finance and banking sector has attracted quite a number of foreigners to leading roles over the years. This trend is expected to continue, as foreign expertise and experience are in high demand for the sector’s development and expat incomes have become more competitive over the years.
— VietnamNet Bridge

Industry to contribute 40% to Vietnam’s GDP by 2030
The Poliburo recently issued Resolution 23-NQ/TW to develop the national industry until 2030, with vision to 2045, aiming to finalize the industrialization and modernization targets and become one of the top three countries in industry in ASEAN.
— The Hanoi Times

Logistics decree underwhelms
While signalling a breakthrough improvement in the local logistics service market, Vietnam’s new regulations have raised concerns over e-commerce among EU investors.
— VietnamNet Bridge

Maybank Research cautious on Yinson over Vietnam Red Emperor contract
Maybank Investment Bank Research is cautious on Yinson Holdings over the latest development in the Red Emperor or Ca Rong Do (CRD) project offshore Vietnam.
— The Star Online

Competitiveness benchmark drives local reforms in Vietnam
The provincial competitiveness index (PCI), which was first launched in 2005 as an optional tool to measure the business friendliness of Vietnam’s provinces and cities, has now evolved into a driver that stimulates local reforms.
— Nhan Dan Online

Vietnam hopes for no “yellow card” over illegal fishing by May
Vietnam is in high hope to get its “yellow card” withdrawn after the European Union (EU)’s examination in May, following the country’s numerous measures against illegal fishing.
— The Hanoi Times

Japan’s Mazda opens largest Southeast Asia factory in Vietnam
Japanese automaker Mazda on Sunday launched its largest and most modern production facility in Southeast Asia in central Vietnam.
— Tuoi Tre

CBRE: Ha Noi to have high supply of retail space this year
Retail space is expected be abundant this year in Ha Noi with a total of 157,000 sq.m coming from eight projects under development, according to the CBRE’s Real Estate Market Outlook in Viet Nam.
— Bizhub

First phase of Vietbuild Hanoi 2018 to open on March 28
The first phase of the first international Vietbuild Hanoi in 2018 will take place at the National Exhibition Construction Centre from March 28 to April 1.
— VietnamPlus

Agribank asked to become leading bank in region
Prime Minister Nguyen Xuan Phuc on March 26 asked the Vietnam Bank for Agriculture and Rural Development (Agribank) to strive to become one of the leading commercial banks in the region.
— VietnamPlus

PM urges Japan’s Mitsubishi to expand investment in Vietnam
Prime Minister Nguyen Xuan Phuc has urged Japan’s Mitsubishi Corporation to expand investment in infrastructure, airport transport, seaports and energy, especially renewable energy, in Vietnam.
— Nhan Dan Online

Mobile payment the next big thing
State-of-the-art QR code payment methods and the mass adoption of smartphones are predicted to provide ample room for the development of mobile shopping in Vietnam.
— VietnamNet Bridge

Seminar to promote links between logistics, e-commerce
Although logistics and e-commerce in Vietnam is booming, the two sectors have been hamstrung by a lack of linkages between them, said Tran Thanh Hai, Deputy Director of the Import-Export Department under the Ministry of Industry and Trade.
— VietnamPlus

Russian Foreign Minister Sergei Lavrov meets Vietnamese counterpart in Hanoi
Russia’s top diplomat Sergey Lavrov recently held talks with his Vietnamese counterpart Pham Binh Minh in Hanoi, amid a visit aimed at reviewing bilateral cooperation between the two countries.
— News Today

Vietnam’s HRC import prices fall further amid trade jitters
Import prices for re-rolling-grade hot-rolled coil sold into Vietnam continued to trend downward on lower demand caused by fears over a looming trade war between China and United States.
— Metal Bulletin

Vietnam-France bilateral trade enjoys continuous growth
Bilateral trade between Vietnam and France have seen positive growth, with Vietnam having enjoyed continuous trade surplus since 2010, reported the Ministry of Industry and Trade.
— VietnamPlus

ComfortDelgro Savico Taxi JV in Vietnam suspends business operations
ComfortDelgro Savico Taxi, a joint venture of Saigon General Service Corporation (Savico) and Singapore’s largest taxi operator ComfortDelGro, has suspended its business to preserve funds and restructure its taxi-related business in the wake of competition from rivals.
— DealStreetAsia

US rejoining TPP would benefit the world: Vietnamese leader
Vietnamese Prime Minister Nguyen Xuan Phuc wants to expand a renewed version of the Trans-Pacific Partnership trade pact to include the U.S. and other countries to drive global economic growth and fight the rising tide of protectionism.
— Nikkei Asian Review

Vietnam is the latest target for Lotte and CJ
Korean food and retail companies are shifting their focus from their struggling ventures in China to Vietnam, sensing opportunity in the Southeast Asian country’s young consumers, many of whom are interested in Korean pop culture.
— Korea Joongang Daily

Feature photo Lucas Jans

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