Vietnam Morning News For May 4

Vietnam Morning News For May 4

Vietnam morning newsVietnam makes trade surplus of US$3.39bn
Viet Nam made a trade surplus of US$3.39 billion in the first four months of 2018, in which foreign direct investment (FDI) sector, including fuel, took the lead with $11.17 billion. This was reported by the General Statistics Office (GSO).
— VietNamNet Bridge

Vietnam’s fintech market value to hit $7.8 billion in 2020
Value of Vietnam’s financial technology (fintech) market is estimated to soar to US$7.8 billion in 2020 from last year’s $4.4 billion thanks to rising bank penetration.
— The Hanoi Times

Vietnam to auction smuggled cigarettes for export
Vietnam will auction quality smuggled foreign cigarettes for export on a trial basis starting on June 18 according to a prime ministerial decision, its Ministry of Industry and Trade said on Thursday.
— Xinhua

​PetroVietnam Gas starts up $439 mln LPG processing facility
PetroVietnam Gas JSC has started up a 10 trillion dong (US$439 million) gas processing plant in southern Vietnam to produce liquefied petroleum gas (LPG) to meet the nation’s rising fuel demand.
— Tuoi Tre

First Vietnamese bank issues ATM card through LiveBank
Tien Phong Joint Stock Commercial Bank (TPBank) has updated a new function of issuing ATM cards to customers through LiveBank – the first auto banking system in Viet Nam.
— Bizhub

Vietnam embraces Taiwan-style bubble tea
Taiwanese-style tea shops offering concoctions of cold milky tea filled with fruit, jelly and tapioca balls — often known as bubble tea — are all the rage in Vietnam, where coffee-drinking culture has long prevailed.
— Nikkei Asian Review

Vinamilk’s profit down by 9 percent in first quarter
Dairy giant Vinamilk reported a fall of 9 percent in its consolidated net profit in the first quarter of this year, reaching over 2.68 trillion VND (118 million USD).
— VietnamPlus

MoIT continues to cut administrative procedures
The Ministry of Industry and Trade (MoIT) has decided to remove and simplify 54 administrative procedures in 10 sectors under its management including energy, import-export and food safety.
— Bizhub

Hanoi to host World Economic Forum on ASEAN in September
The World Economic Forum on ASEAN (WEF ASEAN) 2018 is scheduled to take place in Hanoi from September 11-13, featuring entrepreneurship and the fourth industrial revolution (Industry 4.0).
— VietnamPlus

HCM City industrial production index drops
The industrial production index of HCM City of the first four months rose merely 6.07 per cent compared with the 7.09 per cent of the same period of 2017, according to figures released at a meeting held yesterday to review the city’s socio-economic development.
— Viet Nam News

Foreigners allowed to own 49% of commodity exchange
Foreign investors will be allowed to contribute capital to establish commodity exchange in Viet Nam as per Decree No. 51/2018/ND-CP, which will be effective from June 1, 2018.
— Bizhub

RoK helps Vietnam develop investment information system
The Government of the Republic of Korea (RoK) will provide a non-refundable aid package worth US$5.5 million to help Vietnam carry out a project on upgrading and developing the national investment information system for 2018-2021.
— Nhan Dan Online

Vietnam Cafe Show 2018 draws top domestic, int’l brands
The Vietnam Cafe Show 2018 kicked off at the Saigon Exhibition and Convention Centre in Ho Chi Minh City on May 3.
— VietnamPlus

Clarity needed to lure investors in BOT projects
Nguyen Danh Huy, general director of the transport ministry’s Public-Private Partnership Investment Project Management Department, speaks to Tuoi tre (Youth) newspaper about measures to attract investors to participate in BOT projects.
— VietNamNet Bridge

New Zealand’s import of rambutan to boost Vietnam’s exports
After mango and dragon fruit, rambutan is the third largest Vietnamese fruit to be exported to New Zealand.
— Fresh Plaza

Int’l tourists jump some 30%
Viet Nam welcomed more than 5.54 million foreign visitors in the first four months of 2018, a year-on-year rise of 29.5 per cent, according to the General Statistics Office.
— Bizhub

How money trumped Marx in post-war Vietnam
Two centuries after the birth of Karl Marx, the Socialist Republic of Vietnam has embraced capitalism with open arms – but its economic success has yet to trickle down to its working class.
— Southeast Asia Globe

Việt Nam pledges support for US firms, says Deputy PM
The Vietnamese Government will create the best possible conditions for US enterprises, all in accordance with domestic and relevant international laws, Deputy Prime Minister Vương Đình Huệ announced yesterday.
— Viet Nam News

Ninh Binh Nitrogenous Fertiliser under investigation
Ninh Binh Nitronegous Fertiliser Plant and the investor Ninh Binh Nitrogenous Fertiliser One-Member Co., Ltd. will be investigated to clarify the violations of the Board of Directors during the construction and operation of the plant.
— VietNamNet Bridge

Asia-Pacific Crude-Steady; Vietnam tenders eyed
Trade in the Asia-Pacific crude market was muted on Thursday as traders waited for the results of Vietnamese tenders for second-half 2018 supplies.
— Business Recorder

VN reviews foreign-funded projects in 2017-2018
Deputy PM Pham Binh Minh asked for reviewing approved 26 projects using foreign loans in period 2017-2018 which are not listed in the mid-term public investment plan so that these projects could be carried out soon after the signing of credit agreements to optimize the effectiveness of foreign loans.
— VietNamNet Bridge

An Giang: rice export up in both volume, value
The rice export of the Mekong Delta province of An Giang rose both in volume and value in the first four months this year, said Director of the provincial Department of Industry and Trade Vo Nguyen Nam.
— VietnamPlus

​Hot or cold? Vietnamese give icy reception to frozen meat
The Vietnamese habit of opting for meat advertised as freshly butchered over frozen alternatives is one many experts say should be reconsidered.
— Tuoi Tre

VN investors seek spots at DC summit
More than 30 Vietnamese investors participated in a seminar held on Thursday in HCM City as part of the US Mission to Việt Nam’s ongoing recruitment for the SelectUSA Investment Summit in Washington, DC in June.
— Viet Nam News

Exclusive: VI Group said to have backed Vietnamese bubble tea chain Toco Toco
Vietnamese private equity firm VI (Vietnam Investment) Group is said to have invested in one of the country’s largest bubble tea chains, Toco Toco, owned by Taco Vietnam Service and Trading JSC (Taco).
— DealStreetAsia

 

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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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