Vietnam Morning News For October 16

Viet Nam to open electricity wholesale market next year
The competitive electricity wholesale market will be fully operational starting in 2019 following a successful year-long pilot period.
— Bizhub

World Oil Prices Help Vietnam Expand an Already Fast-Growing Economy
An increase in world oil prices is helping Vietnam earn money that will quicken its already fast economic growth and may help the country build new infrastructure. The only red light: higher fuel prices among Vietnam’s consumers.
— VOA

Vietnam should prioritize local factories for high-speed railway: senior official
The north-south high-speed railway should be seized as an opportunity for the country’s manufacturing sector and labor, a senior official says.
— VnExpress

Manufacturers warned as Vietnam government raises food safety violation fines by 350%
The Vietnamese government has passed a ruling approving a 350% raise in penalties for food safety violations.
— Food Navigator

Halt Vietnam timber deal: NGOs
A group of environmental NGOs has called on the European Union to postpone signing a trade deal on tropical timber with Vietnam until Vietnam declares a moratorium on illegal timber imports from Cambodia’s forests.
— Khmer Times

Inflation pressure weighs on Vietnam in final months
Although full-year inflation will probably be contained at less than 4%, the average consumer price index (CPI) in the first nine months of 2018 was already 3.57%, putting the efforts to curb inflation in the remainder of the year under even greater pressure.
— Nhan Dan Online

Malaysia suspends chili imports from Viet Nam
The Ministry of Agriculture and Agro-Based Industry Malaysia (MOA) has announced plans to suspend imports of chilies from Viet Nam after detecting residue of chemicals used for plant protection exceeding the permissible level.
— Bizhub

Vietnamese rice exports see constant growth
The Vietnamese rice sector has made strides and achieved positive results over the past few years, with annual rice exports accounting for approximately 15% of the total volume of global rice exports. However, the brands of Vietnamese rice are not yet known by the majority of foreign consumers.
— Nhan Dan Online

Enterprises contribute 60% to Vietnam’s economy
The combined pre-tax profit of enterprises operating in Vietnam in 2017 was reported at VND876.7 trillion (US$37.46 billion), up 23.1% year-on-year. They paid VND954.1 trillion (US$40.77 billion) to state coffers, up 10.8% year-on-year.
— The Hanoi Times

Firms aim to boost official farm exports to China
Many Vietnamese firms want to boost exports of agricultural products to China via official channels to gain higher value and avoid risks from unofficial cross-border trade, but face a number of difficulties in seeking to bring their trade above-board.
— Bizhub

Vietnamese use internet, but don’t want to make online payments
Vietnam has a high percentage of internet and social network users, but the proportion of people making payments via internet remains very modest.
— VietNamNet Bridge

Vietnam invests over US$240 million in three hospitals
Vietnamese Prime Minister has given the green light for Ho Chi Minh City to build three hospitals, estimated total investment of US$240 million.
— Vietnam Insider

Viettel launches Viettel Business Solutions Corporation
Viettel Group on Monday in Hà N?i officially announced the establishment of the Viettel Business Solutions Corporation, marking a move into its so-called fourth development stage.
— Viet Nam News

HCMC upscale apartment sales much higher than Hanoi
Premium and luxury apartments in HCMC are seeing high absorption rates while those in Hanoi get few takers.
— VnExpress

US-China trade spat will exert exchange rate pressure on Vietnam
If US-China trade tensions drag on, Vietnam will still see good growth but face strong exchange rate pressures exerted by two major currencies.
— VnExpress

Vietnam GDP per capita to reach US$2,540 in 2018: Investment minister
The result remains a long way off achieving the target of US$3,200 – 3,500 by 2020, local media reported.
— The Hanoi Times

Saigon shopping malls moving out of downtown: property consultancy
Shopping malls are mushrooming outside HCMC’s central business district, a new report by Jones Lang LaSalle Vietnam says.
— VnExpress

Bac Ninh licences 148 new projects
So far this year, authorities in the northern province of Bac Ninh have licenced 148 new investment projects worth US$376.154 million.
— Viet Nam News

TH Group imports more dairy cows from US
Vietnamese dairy firm TH True Milk (TH Group) on October 14 received nearly 1,800 3 or 5-month pregnant dairy cows, which were inseminated through embryo transfer from high-yielding US dairy cow Holstein Friesian.
— Nhan Dan Online

Filipino AC Energy launches 80-MW solar projects in Vietnam
The projects are estimated to cost US$83 million, financed with debt and equity. AC Energy will participate with at least 50% economic share.
— The Hanoi Times

Heavy traffic in Saigon due to an accident at Thu Thiem Tunnel
The Thu Thiem Tunnel is an underground road tunnel designed to cross the Saigon River in Ho Chi Minh City, the largest city in Vietnam.
— Vietnam Insider

Bankers to divest shares to clear cross-ownership status
A number of commercial banks are rushing to divest shares to withdraw capital they contributed to other banks many years ago.
— VietNamNet Bridge

Presidential candidate, CPTPP on agenda of top legislators’ gathering
The ongoing session of the National Assembly (NA) is the final preparation for the upcoming NA plenum, which is set to start on October 22.
— The Hanoi Times

Ayala launches second renewable energy platform in Vietnam
Ayala Corp on Monday said its subsidiary AC Energy has signed an Energy Performance Certificate (EPC) and financing documents to build its second renewable energy platform on Vietnam.
— ABS-CBN

Second group of VN’s peacekeeping force sets off for South Sudan
A ceremony was held at Tan Son Nhat International Airport in Ho Chi Minh City on October 15 to see off the second group of Vietnam’s first Level-2 field hospital to the United Nations peacekeeping mission in South Sudan.
— Vietnam Insider

Tea ceremony of peace held in Vietnam
Descendants of Japanese soldiers who fought in Vietnam during World War 2 have enjoyed a tea ceremony with a message of peace.
— NHK World

App-based taxi companies must be operated as traditional taxi in Vietnam
Grab and every ride hailing firm in Vietnam may soon have to display electronic lights on their cars showing the word ‘TAXI’, if the Government approves a proposal from the Ministry of Transport (MoT).
— Vietnam Insider

First waste-to-energy plant in Can Tho begins trial operation
The first waste-to-energy plant in the Mekong Delta city of Can Tho began trial operation on October 15.
— VietnamPlus

Feature photo World Bank Photo Collection

This week’s Vietnam morning news feature photo acknowledges International Day for Rural Women, October 15.

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.