Vietnam Morning News For May 17

Vietnam Morning News For May 17

Vietnam morning newsVietnam says eyeing formal antitrust probe into Uber-Grab deal
Vietnam’s trade ministry said on Wednesday it is considering launching a formal investigation into the takeover of Uber Technologies’ Southeast Asia business by rival Grab after an initial probe showed the deal would violate antitrust law.
— Yahoo News

Chinese tourists spark ire in Vietnam with controversial shirts
A photo of Chinese tourists wearing T-shirts depicting Beijing’s claims to the disputed South China Sea has sparked online anger in Vietnam, prompting calls for the visitors to be deported.
— Asia One

PV Power’s profit to grow due to power shortages
Power shortages could be more severe than estimation, indicating a promising long-term outlook for PetroVietnam Power (PV Power), said a report by Viet Capital Securities (VCSC).
— The Hanoi Times

Vietnam fast approaching automobile manufacturing dream
The dream is not so far because the progress is very fast and the owners of the Vietnamese car manufacturers are very successful, globally-famous billionaire businessmen.
— VietnamNet Bridge

Petrolimex, JCCP ink second-phase cooperation deal
The Vietnam National Petroleum Group (Petrolimex) and the Japan Cooperation Centre Petroleum (JCCP) has signed an agreement for the second phase of a technical cooperation project on operating the petroleum depot at Petrolimex’s headquarters.
— VietnamPlus

Banks eye bigger shares of Vietnam’s promising consumer finance market
Several Vietnamese banks have planned to establish consumer finance arms to gain a bigger share of a local market that is expected to annually grow 29 percent to some 44 billion U.S. dollars by 2020, Vietnam News Agency reported Wednesday.
— Xinhua

Withdrawal fees at ATMs to quadruple
THE NATIONAL Payment Corporation of Vietnam (NAPAS) has proposed to increase the fee for money with action from August 1.
— The Nation

Vietnam’s quiet coffee revolution
An indigenous community is trying to improve Vietnam’s coffee reputation by growing better-quality, organic beans. There’s more to the world’s second-biggest producer than just instant coffee, they say.
— Deutsche Welle

Ministries urged to remove 49% foreign ownership cap in some firms
The Prime Minister’s working group recently proposed to remove the 49 percent foreign ownership cap at enterprises where foreign investment is not restricted.
— The Hanoi Times

S Korea to inspect VN shrimp firms
South Korea will send an inspection team to Viet Nam to assess the country’s activities in controlling chemicals and antibiotics in the processing and export of shrimp to South Korea in June this year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
— Bizhub

Hanoi to promote the use of Vietnamese products and services
In response to Vietnamese People Use Vietnamese Products campaign, the Hanoi Department of Tourism has taken many measures to promote the use of domestic products and services in the field of tourism.
— The Hanoi Times

Investors weary, wait for law on Public-Private Partnerships
They plan to make investments after the legal framework becomes clear. However, the law has yet to be enacted.
— VietnamNet Bridge

Import cars arrive, but only from Thailand, Indonesia
Only Thailand and Indonesia have adjusted their regulations to satisfy Vietnam’s requirements to export cars to Vietnam. Imports from other countries still cannot meet the requirements stipulated in Decree 116.
— VietnamNet Bridge

Spinning sector greatly contributes to textile export
Vietnam’s fibre and yarn production and export is witnessing a strong growth, boosting the country’s textile and garment export turnover.
— VietnamPlus

Vinamilk to spend $127m to advance 2018 dividend
Vinamilk will pay the interim dividend for 2018 and issue additional shares to increase the share-capital in the third quarter.
— Viet Nam News

Vietnam, Thailand police play illegal gambling whack-a-mole
Authorities in Vietnam have broken up an illegal online gambling ring that used virtual credits for wagering purposes.
— Calvinayre

Public capital disbursement must be publicised: Deputy PM
Deputy Prime Minister Vuong Dinh Hue has requested the Ministry of Planning and Investment and Ministry of Finance to monthly publicise the disbursement of capital for public investment projects by ministries, sectors and localities.
— Nhan Dan Online

Vietnam’s finance ministry pushes ahead with environmental tax hikes
The Ministry of Finance (MOF) has proposed increasing taxes on petrol and diesel to as much as VND4,000 per litre (nearly US$0.18) in a move to raise government income and encourage the use of environmentally friendly fuels.
— Nhan Dan Online

Opportunities in Vietnam for foreign investors
Thai Thuan Nguyen, Managing Director, VinaCapital tells Hubbis about the opportunity Vietnam represents for foreign investors.
— Hubbis

ADB, CITI partner on new risk product to help SMEs
The Asian Development Bank (ADB), through its Trade Finance Programme (TFP), has signed an agreement with Citibank to further support trade across Asia.
— Viet Nam News

Vietnam by planes, trains, automobiles… and then some
If a Harley Davidson is said to throb to the rhythm of the human heartbeat, then the guttural barking of a classic Russian Ural motorbike is probably what a coronary feels like.
— CNN

Fi Vietnam 2018, a venue to connect food and beverage firms
An exhibition on food and beverage ingredients, Fi Vietnam 2018, opened at the Saigon Exhibition and Convention Centre in Ho Chi Minh City on May 16 and has attracted the participation of more than 170 food and beverage enterprises from 20 countries and territories across the world.
— Nhan Dan Online

VN-India set to boost trade ties
The Assam Investment Roadshow, which took place in Ha Noi on Monday, gave businesses from India in general and from the Assam region in particular investment opportunities with Vietnamese partners, especially in the agricultural field.
— Bizhub

FPT Software proposes trial of self-driving autos
FPT Software has asked the Ministry of Transport and relevant sectors for permission to operate self-driving autos in hi-tech zones and software parks nationwide on an experimental basis.
— Viet Nam News

Sixth Vietnam Startup Wheel launched for entrepreneurs at all ages
The sixth Vietnam Startup Wheel in 2018 was launched on May 15 nationwide for all individuals, groups and startup business founders residing in Vietnam regardless of their age.
— VietnamPlus

 

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Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

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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