Vietnam Morning News For October 10

Vietnam fastest growing Asean economy, says British bank
Driven by strong FDI-supported electronics manufacturing and rising consumption, Vietnam’s GDP growth is likely to reach 7 per cent in 2018, according to Standard Chartered Bank.
— Inquirer.Net

Seafood exports likely to rake in $9b this year
Viet Nam expects to earn a total of US$9 billion from seafood exports this year, a year-on-year increase of 7 per cent, after achieving good results in the first nine months, according to the Viet Nam Association of Seafood Exporters and Producers (VASEP).
— Bizhub

Foreign manufacturers in dire need of local qualified suppliers
Though having high demands for high-quality input materials and spare parts for their production bases in Vietnam, foreign manufacturers are finding it hard to seek for local qualified suppliers, experts said.
— The Hanoi Times

Removing difficulties for coffee industry
According to the Vietnam Coffee Association, the world market outlook for robusta coffee was quite gloomy in September. Currently, the export price of Robusta coffee grad 2, with 5% black and broken, reached only US$1,401 per tonne at Ho Chi Minh City’s ports, down 0.8% over the end of August.
— Nhan Dan Online

Dog meat culture clashes with modern tastes in Vietnam
Hoang has been eating dog meat since he was young. He can’t imagine there will be a time that he won’t be eating it at least twice a month. However, Vietnamese officials announced in September that dog and cat meat should no longer be served in the inner districts of the capital city Hanoi because it’s offensive to tourists and can spread diseases like rabies.
— Vietnam Insider

Vietnam’s SMEs make technolgy their top priority, survey finds
TECHNOLOGY is the top investment priority of small- and medium-sized enterprises (SMEs) in Vietnam as they aim to ensure continued growth, according to the Asean SME Transformation Study.
— The Nation

Vietnam laureled with FDI fruits
With 30 years’ successful mobilisation of foreign direct investment (FDI), Vietnam has remarkably been improving its economic climate in favour of investors and businesses. However, challenges remain.
— Nhan Dan Online

Budget carrier to offer steep discounts, free flights to Vietnam
Vietnamese airline VietJet said Tuesday it will launch a promotional campaign Oct. 10-12, offering 70,000 tickets at discounted rates or free of cost for flights from Taiwan and other countries in the region to Vietnam.
— Focus Taiwan

Vietnam, Japan agree to advance extensive strategic partnership
Vietnam and Japan have pledged to advance their strategic partnership for peace and prosperity in Asia during talks between Vietnamese Prime Minister Nguyen Xuan Phuc and his Japanese counterpart Shinzo Abe.
— Inquirer.net

High-rise buildings are indispensable trend in Hanoi: Mayor
Chairman of the Hanoi People’s Committee Nguyen Duc Chung said at the meeting with voters on October 8 that it is indispensable to build high-rise works in the capital to meet rising demand for housing.
— The Hanoi Times

Vietnam more willing to boost security ties with major powers: experts
A number of foreign naval ships have visited Vietnam recently, and analysts say the nation is keen to promote defense diplomacy.
— VnExpress

Business is Booming in Vietnam
Earlier this year, one of the world’s biggest private equity firms Warburg Pincus added banking and logistics to its Vietnam portfolio, pushing its total investment into the country over the $1 billion mark.
— VOA

juwi to build two large-scale PV power plants in Vietnam
PV project developer and EPC firm, juwi Renewable Energy has entered the Vitenam market after securing contracts to build two large-scale PV power plants in Ninh Thuan province, Vietnam.
— PV Tech

Outstanding credit expected to rise by over 15% in 2018
Vietnam’s outstanding credit is anticipated to grow 4.52% in the fourth quarter of 2018 and increase by 15.22% in 2018 in the context of stable deposit and lending interest rates.
— Nhan Dan Online

Hanoi plans second sports complex for SEA Games 2021
Hanoi plans to upgrade the Hang Day stadium into an international sports complex for the SEA Games 2021.
— VnExpress

Bamboo Airways postpones maiden flight
The first Bamboo Airways flight will not take off on October 10 as planned.
— VnExpress

Vietnam’s Hoan My Medical raises $100 mln in bonds
Private hospital chain Hoan My Medical Corp has raised bonds worth VND2.33 trillion ($99.9 million) through Standard Chartered Bank (SCB) Vietnam.
— VnExpress

Interview: Vietnam 2019 polystyrene demand to get a boost from trade war, auto sector – distributor
Vietnam’s polystyrene demand is expected to get a boost in 2019, with the US-China trade war hitting the Chinese finished goods market while boosting the Vietnamese one, and also due to its burgeoning automobile sector, David Hsu, general manager of Kim Hoang Long said during an interview late last week.
— S&P Global

Legal due diligence vital for business acquisitions in Vietnam
Investors seeking M&As could end with legal entanglements at a time when the country is in the process of making its laws consistent.
— VnExpress

Europe businesses back early implementation of EVFTA
“This report provides clear evidence that the EVFTA is a ‘win-win’ for Europe and Vietnam,” said Co-Chairman of EuroCham Nicolas Audier.
— The Hanoi Times

Importers lay scrap import policy to waste
Vietnam has been saying no more waste imports, but a port in southern Vietnam has paid no heed.
— VnExpress

VN banks’ shares a better investment than foreign banks: VDSC
An analysis by Viet Dragon Securities Corporation (VDSC) has found that Vietnamese banks’ shares have better returns than shares of foreign banks.
— Bizhub

European firms support EU-Vietnam FTA signing
European businesses expressed their support for the signing and ratification of a free trade agreement between the European Union (EU) and Vietnam (EVFTA) at a conference on October 8.
— VietnamPlus

Vingroup acquires Fivimart supermarket chain
Vingroup’s retail arm, VinCommerce, has completed the acquisition of the Fivimart supermarket system, according to a Vingroup press release published on Monday.
— Bizhub

Feature photo USAID Vietnam

This week’s Vietnam morning news feature photo acknowledges International Day for Disaster Reduction, October 13.

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.