Vietnam Morning News For May 3

Vietnam Morning News For May 3

Vietnam morning newsVietnam’s trade revenue hit nearly US$145 billion
The country’s total import-export turnover in the first four months of this year rose 14.4 percent year-on-year to US$144.13 billion, the General Department of Customs reported.
— The Hanoi Times

Petroleum, rice price hike pushes April’s inflation
Vietnam’s consumer price index (CPI) in the first four months of this year rose 2.8 percent year-on-year, mainly due to price hike of petroleum and food, the General Statistics Office (GSO) reported.
— The Hanoi Times

Real estate firms in a spin over condotel oversupply in Vietnam
Only 19 percent of the new holiday homes on the market sold in the first quarter of this year.
— VnExpress

SMEs’ access to credit: Better, but not enough
Small- and medium-sized enterprises (SMEs) have been highly conducive to economic development in Viet Nam as they significantly contribute to job creation, export promotion, growth generation and poverty reduction.
— Bizhub

History of hustle drives Vietnam’s outbound startups
Communist ruled Vietnam makes no bones about capitalizing on technology and other entrepreneurial startups to speed its drive to reach middle-income status and close the economic gap with more developed regional rivals.
— Asia Times

HCM City needs $80 billion for development
The People’s Committee of Ho Chi Minh City said the city will need VND1,800 trillion (US$80 billion) for investment in 2018-2020 to ensure its growth.
— The Hanoi times

Gas trading violations affect businesses, consumers
The trading of low-quality gas, illegal extraction and failure to ensure the safety continue posing dangers to the health and rights of consumers.
— VietnamPlus

Challenges for the Belt and Road Initiative in Vietnam
Back in March, 2017, China’s Belt and Road Initiative (BRI) was described by the international media as being broad and comprehensive, involving policy coordination, facilities connectivity, unimpeded trade, financial integration, and people-to-people connections.
— The Asean Post

Vietnam Airlines pilots grounded after landing on runway under construction
Vietnam’s Civil Aviation Authority of Vietnam is investigating why a Vietnam Airlines jet carrying 203 passengers landed on a closed, still under construction runway.
— Travel Mole

FDI disbursement up, inflow of capital down
Viet Nam’s foreign direct investment (FDI) disbursement continued a positive trend in the first four months of 2018 while there was a reduction in the registered FDI capital.
— Bizhub

​Vietnam risks becoming ‘haven’ for card fraud with slow move to chip tech
Banks in Vietnam are reluctant to replace all magnetic stripe cards with chip cards by the end of 2020 because of tremendous costs, putting roughly 70 million card owners at risk of identity theft, despite a central bank requirement to make the transition.
— Tuoi Tre

HCM City pilots rental of public vehicles
A HCM City pilot car rental service for Government officials that began on Sunday is expected to save more than VND100 million (US$4,404) per month for the State budget.
— Bizhub

Vietnam’s Vietjet Aviation Q1 net profit up sharply at $60mn
Vietnam’s budget airline Vietjet Aviation said on Wednesday net profit rose sharply in the first quarter, on strong revenue growth.
— Business Recorder

HCM City’s industrial production stalls in four months
Ho Chi Minh City’s industrial production index tended to stall, up only 6.07 percent in the four months this year compared to 7.09 percent one year earlier, said Deputy Director of the municipal Department of Industry and Trade Nguyen Huynh Trang.
— VietnamPlus

Experts call for corruption probe into cheap public land transaction
Several economic experts have raised doubts over possible corruption in the selling of 32 hectares of public land in HCM City.
— VietnamNet Bridge

Vietnamese leaves US startups behind for more meaningful venture in homeland
A Vietnamese man has been running an enterprise in his motherland in the quest for a more meaningful life after deciding to leave the United States, where he successfully co-launched several start-ups.
— Tuoi Tre

Vietnamese steel association seeks exemption from ‘absurd’ Trump tariff
Local firms are concerned they will be unable to compete with countries where the U.S. does not imposes the fees.
— VnExpress

Deputy PM chairs meeting on use of WB, ADB loans
Deputy Prime Minister and Foreign Minister Pham Binh Minh chaired a meeting in Hanoi on May 2 to review and accelerate the launch of 26 projects using loans from the World Bank (WB) and Asian Development Bank (ADB) for 2017-2018.
— VietnamPlus

Motorbike labelling debated
A new draft circular proposes that all new motorbikes imported into or manufactured in Vietnam must be stamped with energy certificates such as the ones found on most electronic appliances, leading to questions about whether the move will actually support regulators’ environmental goals or just create more paperwork.
— VietnamNet Bridge

Singapore edges out Vietnam as Asia’s top stock market
THERE’S been lots of competition for the title of Asia’s best-performing stock market this year. Among the major equity indexes in the region, eight have climbed to records in the first four months alone.
— Business Times

​Vietnam first joins World Free Zones Organization’s annual event
Vietnam attended for the first time the World Free Zones Organization’s yearly event held in Dubai between April 30 and May 1, in an effort to draw more international attention to the Southeast Asian country’s future free zones.
— Tuoi Tre

Exclusive: CyberAgent Ventures says has exited 10 investments to date in SE Asia
Tokyo-headquartered CyberAgent Ventures has exited more than 10 investments from its two Southeast Asia funds, a top executive has revealed.
— DealStreetAsia

 

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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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