Vietnam morning news for October 29

Vietnam morning news for October 29

Vietnam morning newsVietnamese cement sales projected to far exceed 2018 target
The quantity of cement exported and sold in the domestic market reached 85.23 million tonnes in the first ten months of 2018, already surpassing the target of 85 million tonnes for the whole year.
— Nhan Dan Online

Vietnam’s PV Gas net profit sees 50% increase in Jan-Sep
The result was partly thanks to an increase in oil prices in the world market, reaching US$71.4 per barrel, up 42% compared to PV Gas` original estimate and US$20 year-on-year.
— The Hanoi Times

Coca-cola plans fourth Vietnam factory worth US$300 million in Hanoi
Coca-Cola is looking for a location in Hanoi for a plant worth US$300 million, which would be the soft drinks group’s fourth in Vietnam, according to Calin Dragan, president of Coca-Cola’s Bottling Investment Group.
— The Hanoi Times

Vietnam banks look abroad in rush for long-term capital
Struggling to attract domestic funds, banks are rushing to seek foreign capital ahead of the central bank’s tightened policy on medium- and long-term lending early next year.

Which is the best business to start in Vietnam?
As a professional investment consultant in Vietnam, Global Business Services Company (GBS | Vietnam) shares with Vietnam Insider the most preferred industries by foreign invested SME companies, which used the services of GBS to set-up their business in Vietnam.
— Vietnam Insider

Vietnam Airlines launches Da Nang-Osaka route
The first flight of the national-flag carrier Vietnam Airlines from the central city of Da Nang to Japan’s Osaka city was launched on October 28.
— VietnamPlus

$50 billion surplus: Vietnamese agriculture reaps hi-tech dividends
Vietnam’s agriculture sector has been reaping significant hi-tech returns of late, Minister Nguyen Xuan Cuong has informed the parliament.
— VnExpress

Viet Nam makes slow start on ‘smart factories’
The fourth industrial revolution is giving rise to “smart” factories where robotics, artificial intelligence (AI), cloud computing, and data analytics are used to link production and logistics processes and make manufacturing more intelligent, efficient and sustainable, but their number is limited in Vi?t Nam.
— Viet Nam News

Long Thanh International Airport among world’s most expected new airports and terminals
With more people than ever flying, cities around the world are building new airports and upgrading old terminals to create facilities capable of handling tens of millions of passengers.
— The Hanoi Times

Rising dollar, market glut cut Vietnam’s shrimp export value
Vietnam’s shrimp export value plunged almost 15 percent year-on-year in September, hit by the rising dollar and other factors.
— VnExpress

Vietnam’s authorities consider tax relief to support local auto production
The Ministry of Industry and Trade (MoIT) is scrutinizing a plan to exempt special consumption tax on locally produced auto parts in a move to promote domestic auto manufacturing and build up a supply chain for the industry.
— The Hanoi Times

Vietnam’s No-Nonsense New President Takes Lead in China, US Affairs
Vietnam’s Communist Party head will have unprecedented power to keep relations stable with old foe China while pursuing stronger trade and security ties with the United States as he exercises his duties as the nation’s new president.

Vietnam calls for full, effective implementation of DOC
Vietnam always calls on all concerned parties to avoid militarisation, restrain, implement the Declaration on the Conduct of Parties in the East Sea (DOC) fully and effectively, and build a practical and effective Code of Conduct in the East Sea, a Vietnamese diplomat has said.
— Nhan Dan Online

State’s divestment plan set for failure
As the stock market is experiencing strong volatility and shows little signs of strong recovery, the State may struggle to sell its stake in State-owned enterprises (SOEs) on schedule.
— Viet Nam News

ABS-CBN signs distribution deals in Vietnam, Myanmar
ABS-CBN said Sunday it signed distribution deals in Vietnam and Myanmar to make more of its shows available in the 2 Southeast Asian countries.

$3,855 fine for changing $100 will be reviewed: Deputy PM
The legality of a $3,855 fine imposed for exchanging $100 in a gold shop should be reviewed, Deputy Prime Minister Truong Hoa Binh says.
— VnExpress

Vietnam’s exports to India rise sharply
Vietnam’s export turnover to India hit US$5.1 billion in the first nine months of 2018, according to preliminary statistics released by the General Department of Vietnam Customs.
— Nhan Dan Online

Responsive plans urged to cope with El Nino’s negative impacts on Vietnam’s agriculture
El Nino is an extreme natural phenomenon that directly affects Vietnam’s agri-food system. If there is no responsive plan, El Nino will create a shock that affects agriculture, which in turn will negatively affect social welfare, food security, and agricultural development.
— Nhan Dan Online

Vietnam to navigate rough trade war waters
Parliament members say the ongoing US-China trade war has had visible impacts, and Vietnam needs to reduce dependence on both nations.
— VnExpress

FDI pledges into Vietnam hit nearly US$28 billion in first ten months
Foreign investors pledged to pour US$27.9 billion into Vietnam in the first ten months of 2018, down 1.2% compared with the same period of last year, according to the Foreign Investment Agency.
— Nhan Dan Online

HN aims for more social housing by 2020
Ha Noi’s property market will have more supply of social housing products for low-income people by 2020 in order to address the paucity of those products on the market combined with the over-supply of commercial houses.
— Bizhub

Overnight rate skyrockets to 4.44%
Liquidity in the banking system is getting tighter, causing interest rates on the inter-bank market to surge.
— Bizhub

Viettel Billing System won Gold International Business Stevie Award
Viettel’s real time billing system (vOCS 3.0) was awarded the Gold Stevie Award for “Best New Product or Service of the Year” entry at the International Business Stevie Awards held in London, England on October 21st, 2018 by the time zone of Vietnam.
— AEC News Today/ PR Newswire (media release)

No major barriers remain for EVFTA: Ambassador
“Green light” has been turned on, the Europe-Vietnam Free Trade Agreement is getting straight to the European Parliament and is expected to be realized in early 2019.
— The Hanoi Times

Vietnamese banks optimistic about transaction picture in 2018
A recent survey conducted by the State Bank of Vietnam in September revealed that 83 percent of credit institutions have expectation for a high business growth this year with interest rates being kept stable and profit continuing to increase year-on-year.
— VietnamNet Bridge

Vietnam’s FX reserves exceed US$60 billion: Deputy PM
Vietnam`s exchange rate policy has been managed on the basis of market mechanism.
— The Hanoi Times

Police hunting S. Korean gang over assault on rivals in Ho Chi Minh City
Police in Ho Chi Minh City are hunting five South Korean men who are still on the run after assaulting their fellow countrymen and business rivals at the latter’s residence in District 2, leaving the victims with severe injuries.
— Vietnam Insider

Food companies spend big money on food hygiene, branding
Food is one of the most attractive business sectors as it not only has a 93 million customer domestic market, but also a vast world market with average annual export turnover of tens of billions of dollars.
— VietNamNet Bridge

250 brands to attend Coffee Expo Vietnam 2018
The third Coffee Expo Vietnam 2018 will be held in Ho Chi Minh City next week, attracting 250 brands from 10 nations.
— VietnamPlus

India’s Waaree Energies to set up 60-MW solar project in Vietnam
Being developed in central Khanh Hoa province, the project has been approved by EVN (Vietnam Electricity), the country`s sole electricity distributor, for 60 MW and is expected to generate 106,000 MWh of electricity per year, once commissioned.
— The Hanoi Times

Uniqlo acquires stake in Vietnamese firm
Japan’s Uniqlo has acquired a 35 per cent stake in Ha Noi-based women’s fashion products maker Elise Joint-Stock Company.
— Bizhub


Feature photo Vietnam Electricity Corporation

This week’s Vietnam morning news feature photo acknowledges World Cities Day, October 31.


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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