Vietnam Morning News For November 7

Vietnam to extend e-visa scheme to lure foreign visitors
The Ministry of Public Security has issued 336,932 e-visa to foreigners from January 2017 to October 2018.
— The Hanoi Times

Vietnam maintains tariffs on imported steel
Vietnam’s Ministry of Industry and Trade (MoIT) has decided to maintain safeguard measures for steel billets and steel bars imported from a number of countries and territories including China, the US, Canada, Germany, France, Japan and the Republic of Korea.
— VietNamNet Bridge

PetroVietnam Technical Services awarded $176m equipment contract for Sao Vàng-Ð?i Nguy?t gas project
The Malaysia Vietnam Offshore Terminal (MVOT), a joint venture between PetroVietnam Technical Services Corp and Malaysia’s MIBS Bhd, has won a US$176 million contract to provide equipment for Idemitsu Kosan to develop the Sao Vàng-Ð?i Nguy?t gas project.
— Viet Nam News

Waterway transport needs investment
A lack of investment in inland waterways has stunted the development of water-borne shipping and made Vietnam’s logistics sector heavily dependent on more expensive road transport.
— VietnamPlus

Transport Ministry seeks US$40 million for My Thuan-Can Tho expressway project’s site clearance
The sum is part of the total investment for project of VND5.4 trillion (US$232 million), but the ministry has proposed disbursing it now to complete land clearance work to find an investor for the project.
— VietNamNet Bridge

Brokerage predicts BIDV’s pre-tax profit up over 8% in 2018
The future sale of 600 million shares to KEB Hana, if successful, will have a big positive impact on BIDV’s financial picture by improving its credit and profit growth potential.
— The Hanoi Times

Vietnam, Thailand withdraw from bidding to supply 203,000 MT rice to PH
Both Thailand and Vietnam refused to participate in the bidding to supply the country with 203,000 metric tons of rice, citing the National Food Auhtority’s (NFA) terms of reference of importation.
— CNN Philippines

Export revenue drops in October
Export revenue in October topped 20.8 billion USD, a drop of 1.5 percent from the previous month, but increasing 2.3 percent compared to the same period last year, according to the Ministry of Industry and Trade.
— VietnamPlus

Removing barriers to develop collective economy
Deputy Prime Minister Vuong Dinh Hue has asked ministries and sectors to identify and address existing obstacles to create a new driving force and direction for the development of the collective and cooperative economy.
— Nhan Dan Online

PV Power’s output expected to exceed 5.6 billion kWh in Q4
PetroVietnam Power Corporation (PV Power) set a target of reaching an output of more than 5.6 billion kWh in the last quarter of this year to fulfill its full year’s plan.
— VietnamPlus

Vietnam’s e-wallet breaks top 100 on KPMG Fintech list
A financial technology (fintech) firm that owns one of the most popular mobile wallet apps in Vietnam has become the first-ever Vietnamese representative to be listed among the world’s top 100 companies of this kind.
— Vietnam Insider

Long An to host Vietnam Rice Festival 2018
The third Vietnam Rice Festival will be held in Tan An city, in the Mekong River Delta province of Long An, from December 18-24.
— Nhan Dan Online

Aquatic product exports rake in 7.24 billion USD in 10 months
Vietnam exported 7.24 billion USD worth of aquatic products in the past 10 months, up 6.2 percent year-on-year, reported the Agro Processing Market Development Authority (Agrotrade) under the Ministry of Agriculture and Rural Development.
— VietnamPlus

VinFast and Vespa crack open electric motorcycle segment
Both VinFast and Vespa have come out with spectacular new electric motorcycle models to green out the roads with style – at very different prices.
— Vietnam Insider

Airports Corporation of Vietnam earns healthy profits over first three quarters
The Airports Corporation of Vietnam (ACV) earned trillions of VND in revenue in the initial three quarters of this year.
— VietnamPlus

Vietnam attends defence expo, forum in Indonesia
Vietnam has sent a delegation to attend the Indo Defence Expo & Forum 2018 which will be held on November 7-10 in Jakarta.
— VietnamPlus

Canada makes final say on anti-dumping probe into cold-rolled steel
Cold-rolled steel imported from China, the Republic of Korea (RoK) and Vietnam is being unfairly subsidised and dumped in Candida, according to the Canada Border Services Agency (CBSA).
— Nhan Dan Online

Shinhan Bank launches new mobile banking app
Shinhan Bank Vietnam has officially launched a new mobile banking app, SOL, with many outstanding features.
— Vietnam Insider

Pork processing complex inaugurated in Nam Dinh
A hi-tech pork slaughterhouse meeting international standards, run by Bien Dong DHS, was inaugurated in Hai Nam commune, Hai Hau district, the northern province of Nam Dinh on November 4. It is one of the biggest of its kinds in the north.
— Nhan Dan Online

Hapro boosts exports of agro products, foodstuffs
Prime Minister Nguyen Xuan Phuc and a high ranking delegation from Vietnam visited the Vietnamese enterprises’ booths, including one by Hanoi Trade Joint Stock Corporation (Hapro) – a subsidiary of BRG Group, at the opening of the first China International Import Expo (CIIE 2018) in Shanghai city on November 5.
— Nhan Dan Online

Japan, Vietnam agree to enhance friendly ties
A special adviser to Japanese Prime Minister Shinzo Abe and the chief of the Vietnamese ruling Communist Party agreed Monday to further develop friendly relations between the two countries.
— The Mainichi

Gaming firm VNG’s profits fall 52 pct in 9 months
Vietnamese online gaming giant VNG has reported Jan-Sept 2018 profits of VND152 billion ($6.5 million), a 52 percent year-on-year slump.
— VnExpress

Auto imports experience year-end season surge
Up to 13,000 vehicles were imported last month, almost three times the number in October 2017.
— VnExpress

Banks race to issue bonds for capital hike
Many banks have issued a large amount of bonds to raise capital in a move to meet high demand during year-end’s peak lending season and prepare to meet the State Bank of Viet Nam (SBV)’s regulations on tightening the use of short-term funds for long-term loans from early next year.
— Bizhub

ThaiBev earns over US$100 million in net profit after Sabeco investment
The amount did not include the 35% of prepayment of 2018 dividends or VND2.24 trillion (US$96.49 million) that ThaiBev is expected to receive in the remaining months of 2018.
— The Hanoi Times

SSC, JICA sign quality boosting project agreement
The State Securities Commission (SSC) and the Japan International Co-operation Agency (JICA) on Monday signed a project agreement to improve the quality, transparency and equality of the Vietnamese stock market.
— VietNamNet Bridge

Vietnam shouldn’t bank heavily on trade war benefits: experts
Vietnam does stand to gain from the ongoing U.S.-China trade spat, but daunting challenges remain, experts warn.
— VnExpress

Vietnam’s MoMo e-wallet named in Fintech100 report
The Vietnamese MoMo e-wallet has been named in the Fintech100 report –a list of the year’s best fintech innovators from around the world, announced by H2 Ventures and KPMG.
— VietNamNet Bridge

Vietnam: The new Anantara Quy Nhon is for luxury holiday seekers
Anantara’s new-build resort in Vietnam is in its soft-opening phase. Once it’s in full swing, its parent company, Minor Hotels, is hoping the property will become a destination in and of itself.
— Traveller

Vietnam’s highway robbers put traffic safety at risk
Components of a major expressway in southern Vietnam are being stolen repeatedly, putting vehicles at risk and causing mounting losses.
— VnExpress

Investors in short-term apartment rentals for tourists struggle to make a profit
Most travelers choosing homestays and short-term rentals like novelty and often change tourism destinations, and do not return to the same rental.
— VietNamNet Bridge

Public debt under control: MoF
Viet Nam’s public debt remains under the ceiling limit, according to the Ministry of Finance.
— Bizhub

Vietnamese man escapes controversial $3,900 fine for $100 note exchange
A Can Tho man who had been slapped with a VND90 million ($3,900) penalty for changing a $100-bill has been pardoned.
— VnExpress

Manage golf course investment by conditions
Investment in golf courses will be managed by conditions drafted by the Ministry of Planning and Investment, instead of an overall planning.
— VietNamNet Bridge

Feature photo Beyond Pesticides

This week’s Vietnam morning news feature photo acknowledges International Day for Preventing the Exploitation of the Environment in War and Armed Conflict, November 6.

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.