Vietnam Morning News For September 12

Vietnam’s FDI up 9.2% to US$11.25b in August
Vietnam’s foreign direct investment (FDI) from January to August hit $11.25b which is a 9.2% YoY increase, the investment ministry said.
— SBR

Vietnam denies entry to rights advocates
Vietnam has denied entry to two prominent rights campaigners invited to attend this week’s World Economic Forum (WEF) on ASEAN 2018 in Hanoi, as the one-party communist state continues its hard line on critics of its dismal rights record.
— The Asean Post

Vietnam startups lack government support when it matters most
Vietnamese startups do not get the financial support they need from the government at the discovery and validation stages.
— Vietnam Insider

PVN asks for revision of oil law
The ongoing exploitation of petroleum resources in Viet Nam threatens to outpace exploration of new sites, which could lead to a drop in the country’s oil and gas output.
— Bizhub

Vietnam Issues New Competition Law
In June 2018, Vietnam passed a new Competition Law, replacing the 2004 version of the law. The new law which focuses on competition restraining agreements, market dominance, economic concentration, and unfair practices, will be in effect from 1 July 2019.
— Vietnam Briefing

Cheap Vietnamese imports rob pepper of flavour
The uptrend in pepper prices witnessed last month, following incessant rains impacting the crop in Kerala and Karnataka, appears to have been short-lived.
— The Hindu Business Line

Gov’t gets tough on food safety violations
The Government has approved a decree to raise fines for food safety violations, which would reach VNĐ200 million (US$5,840) or seven times higher than the value of goods.
— Viet Nam News

Vietnam implements biggest mining project in Laos
The Lao Government and Viet Phuong Group (VPG) of Vietnam on September 11 signed a contract for exploiting and processing bauxite ore and building an alumina factory in Sekong province of Laos.
— Viet Maz

Vietnam c.bank approves merger between HDBank and PGBank
The State Bank of Vietnam (SBV)`s approval is a major step creating necessary legal framework for the merger of two banks, which is scheduled to be completed by the end of 2018.
— The Hanoi Times

Japan top investor in Vietnam, has interests in multiple sectors
Japan is the biggest foreign investor in Vietnam in terms of pledged investment capital in January-August.
— Retail News

China’s Guangxi urged to facilitate exports of Vietnamese products to China
Deputy Prime Minister Vuong Dinh Hue has suggested China’s Guangxi province to continue creating favourable for Vietnamese key products to enter Chinese market.
— Nhan Dan Online

Vietnam announces intangible cultural heritage practices
Vietnam has announced eight additional national intangible cultural heritage practices under Decision No.3325/DD-BVHTTDL, recently signed by Minister of Culture, Sports, and Tourism Nguyen Ngoc Thien.
— NNT

Vietnam shines despite trade and emerging market pressures of Southeast Asia
Vietnam – with its economy growing at its fastest pace in eight years in the first half of 2018 — is defying the stress in emerging markets as its Southeast Asian rivals face an uncertain outlook driven by trade war risks and a stronger dollar.
— CNBC

You ready to buy a car from Vietnam? VinFast seem make a splash
If Vietnam’s first automaker, Vinfast, is serious about contending in the global auto market, it’s initial car designs don’t indicate that it is very serious about making a splash with design.
— Vietnam Insider

Industry 4.0 can catalyze ASEAN development: Vietnam PM
Vietnam and ASEAN should seize growth opportunities presented by the fourth industrial revolution, PM Nguyen Xuan Phuc said.
— VnExpress

Domestic airlines’ punctuality better than world average
The number of delayed or cancelled flights operated by national flag carrier Vietnam Airlines and budget carriers Vietjet and Jetstar Pacific in the first eight months of the year was lower than the world average of 25 per cent.
— Bizhub

Vietnam’s capital urges residents to stop eating dog meat
Authorities in Vietnam’s capital Hanoi are urging residents to stop eating dog meat because it hurts the city’s image and improper raising and slaughtering of the animals could also spread rabies.
— Business Standard

Grab partners Vietnamese firm for mobile payment service
GRAB announced on Tuesday its partnership with Vietnam’s MOCA Technology and Service company (Moca) for a mobile payment service in Vietnam, as the ride-hailing firm pushes to cement its position in the Southeast Asian country.
— Business Times

Insurers’ total assets reach over $15 billion
Total assets of Vietnamese insurance companies in the first eight months of the year surged sharply by 35.16 per cent year-on-year to nearly VNĐ365.52 trillion (US$15.55 billion), a report from the Ministry of Finance (MoF) showed.
— Viet Nam News

Hanoi to expand green works for sustainable urban development
Hanoi has paid more attention to the balance of living environment protection in order to develop in a sustainable way for the past ten years.
— The Hanoi Times

Can Tho earns more than 451 million USD from retail, services in August
The Mekong Delta city of Can Tho earned more than 10.5 trillion VND (451.5 million USD) in retail and service revenue in August, up 15 percent year on year, according to the city’s Statistics Office.
— VietnamPlus

Software exports achieved, FPT sets sights on bigger goals
At 10 p.m. on July 12, 2018, FPT chairman Truong Gia Binh was waiting calmly and patiently in front of a screen at the company’s headquarters in Hanoi.
— VnExpress

Investors See Opportunity in Vietnam
Ruchir Desai, senior investment analyst at Asia Frontier Investments, discusses Vietnam and other frontier markets in Asia.
— Bloomberg (video)

WEF ASEAN: Grow Asia Forum talks innovation in agriculture
The Grow Asia Forum was held in Hanoi on September 11 within the framework of the World Economic Forum (WEF) on ASEAN 2018 which lasts from September 11-13.
— VietnamNet Bridge

HCM City to host int’l pharma expo
More than 100 exhibitors from 25 countries and territories will showcase their latest products and technologies used in the medical, pharmaceutical and hospital industries at the 13th Pharmed & Healthcare Vietnam in HCM City next week.
— Viet Nam News

Vietnam banks long for foreign capital
Securing long-term finance is considered a common challenge for Vietnamese banks, CafeF reported.
— The Hanoi Times

WEF on ASEAN: Young Vietnamese show entrepreneurial aspiration
Young Vietnamese people show their strong aspiration for self-employing and setting up enterprises amid the fourth industrial revolution (4IR), according to a survey from the World Economic Forum.
— VietnamPlus

Domestic private investment is key for Vietnam to achieve SDGs: UNDP
Domestic private investment is yet to fulfill its increasing role as a driver of Vietnam`s lower middle-income economy, according to UNDP`s director.
— The Hanoi Times

Vietnam, Indonesia Vow to Fight Illegal Fishing, Boost Trade
Indonesian President Joko “Jokowi” Widodo says his country and Vietnam have agreed to cooperate more in fighting illegal fishing and hope to boost two-way trade.
— The New York Times

“Future proof” core businesses to unleash innovation: MDEC
Malaysian companies need to step up in their automation efforts to ‘future proof’ their core businesses and unleash innovation to stay ahead of the competition, said Malaysian Digital Economy Corporation (MDEC) chief executive officer Datuk Yasmin Mahmood.
— New Straits Times

Rice production drops slightly in summer-autumn crop
Southern localities have harvested nearly 962,000 hectares of total rice farmed in the summer-autumn crop this year, equivalent to 88.7 percent of the same crop last year, according to the Ministry of Agriculture and Rural Development (MARD).
— VietnamPlus

Vietnam considers PPP an important tool for attracting investment: DPM
The statement was made by Deputy Prime Minister Trinh Dinh Dung at Grow Asia Forum 2018, alongside the World Economic Forum on ASEAN 2018 (WEF-ASEAN 2018) held in Hanoi on September 11-13.
— The Hanoi Times

Generali Vietnam launches new cancer protection product
“VITA – La Chan Vang” (VITA – Golden Shield) helps customers secure peace of mind in being protected against all types of cancer.
— Vietnam Insider

Removing EC’s yellow card key to boosting seafood exports
The fishery sector needs to take actions to convince the European Commission (EC) to remove a “yellow card” warning on Vietnamese seafood so as to realise the set target of 9 billion USD in export turnover this year.
— VietnamPlus

New vaccine to be rolled out soon
The ComBeFIVE vaccine is undergoing quality checks and will be delivered to injection sites next week, the Drug Administration of Việt Nam announced on Monday.
— Viet Nam News

Feature photo Travis Hawk

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