Vietnam Morning News For September 17

Vietnam’s state budget collection up 12.4 pct in 8 months
Vietnam posted budget collection of 997.6 trillion Vietnamese dong (43.4 billion U.S. dollars) in the first eight months of this year, up 12.4 percent on-year, according to the Vietnamese Ministry of Finance.
— Xinhua

Many foreign companies move factories to Vietnam: Savills
Many companies are moving their factories from other countries to Vietnam, showing the potential for strong development of industrial real estate, according to Savills Vietnam.
— VietnamPlus

Tax authority pilots online payment for vehicle registration fee
The Vietnam’s General Department of Taxation is planning an experimental online payment for vehicle registration fee, helping facilitate people in application for tax procedures.
— Sggp News

Việt Nam’s textile export value up almost 7% in eight months
Việt Nam Textile and Apparel Association (Vitas) said the total export value of textiles, fiber, and cloth reached US$25.7 billion in the first 8 months of the year, up 8.6 per cent year on year, including 60.6 per cent from foreign direct investment (FDI) enterprises.
— Viet Nam News

LNG Ltd to supply gas to Vietnam from Louisiana project
Australia-listed Liquefied Natural Gas Ltd said on Monday it signed a deal with a province in Vietnam to supply liquefied natural gas (LNG) from its Louisiana-based Magnolia project.
— Yahoo News

Resource efficiency helps to save US$30 million annually
In the past three years, The Vietnam Improvement Program, an International Finance Corporation’s initiative to improve resource efficiency in the local apparel, textile, and footwear sector, has supported 82 factories to invest US$37 million in resource efficiency measures, helping them to save $30 million annually by using less water, energy and chemicals.
— Sggp News

SBV tightens loans with savings books as collateral
The State Bank of Việt Nam (SBV) has warned local commercial banks to improve control of loans that use savings books as collateral to ensure the safety of the banking system.
— Viet Nam News

Vietnam’s hotel industry faces challenge in technology
In most countries, three- and four-star hotels are usually popular with domestic tourists, and Vietnam is the same, said Troy Griffiths, Deputy Managing Director Savills Vietnam – a foreign property service provider in Vietnam.
— Vietnam Insider

Foreigners’ access to title documents in Vietnam remain obstructed by legal challenges?
The Finnish husband of Huynh Truc Mai was happy when he bought an apartment in District 2, HCMC, two years ago, and was eager to have their names appear as joint owners. But this was denied because he was not Vietnamese.
— Vietnam Insider

Transport ministry urges metro line contractor to meet deadline
The Ministry of Transport has asked the Chinese contractor of Cát Linh-Hà Đông metro line in Hà Nội to commit to a specific deadline when the project will be finished.
— Viet Nam News

Made-in-VN Lotus network aims to have 60 million users
The Vietnamese social network Lotus revealed its plan to attract 60 million users in Việt Nam during its official launch in Ha Noi yesterday.
— Viet Nam News

Viet Capital Bank submits profile to VSD
Bản Việt Bank (Viet Capital Bank) has registered with the Vietnam Securities Depository (VSD) to trade more than 317 million shares on the Unlisted Public Company Market (UPCoM).
— Viet Nam News

Hà Nội’s air quality declines
Hà Nội’s air quality has declined last week, especially on Sunday which witnessed serious pollution in a number of districts, according to environment monitoring results.
— Viet Nam Net

Korean businesses ready to transfer technologies to Vietnam
A conference themed ‘Technology Connection between Vietnam – Korea 2019’ will be held in HCMC’s District 1 on September 19 to boost technology connection activities and inter-investment among businesses between Vietnam and the Republic of Korea.
— Sggp News

Vietnam experiences a travel bloom: Thai media
Vietnam’s non-smoke sector is enjoying a boom, with a substantial increase in the number of Thai visitors buoyed by growing low-cost flights, Thai media reported.
— VietnamPlus

Resolution expected to boost FDI attraction to Vietnam
With a political bureau’s resolution on improving legal framework for FDI attraction until 2030 adopted recently, many insiders pin high hope on FDI attraction prospect of Vietnam.
— VietnamPlus

Vietnam, China jointly investigate Chinese-run drug ring
Vietnamese and Chinese police are working together to investigate a meth ring operated by Chinese men in the Central Highlands.
— VnExpress

Only 10 percent of ODA, concessional loans disbursed in eight months
According to the Ministry of Finance, by August 30, 2019, disbursement of official development aid (ODA) and foreign concessional loans was merely at VND6.48 trillion, accounting for 10.7 percent of the target of VND60 trillion, set by the National Assembly of Vietnam (NA).
— Sggp News

From trash to treasure: circular economy brings hope
Consumers, as well as Vietnamese customers, today pay more attention to the environment. This is an opportunity but also a challenge for companies to take action towards sustainable development.
— Viet Nam News

Hong Leong and TPG acquire all Columbia Asia Hospitals in Việt Nam
All three hospitals and clinics of Columbia Asia Hospitals in Việt Nam are now owned by Malaysia-based Hong Leong Group and global alternative asset firm TPG.
— Viet Nam News

CNN suggests 13 essential Vietnam experiences for international travellers
The US Cable News Network (CNN) has suggested 13 memorable experiences for international travellers to Vietnam.
— NDO

Vietnam strives to earn VND700 trillion from tourism in 2019
The Vietnamese tourism sector is approaching to the target of welcoming 17.5 -18 million international visitors and serving 85 million domestic tourists in 2019, while earning an estimated total revenue of VND700 trillion (nearly US$30.1 billion).
— NDO

Coffee export prices plummet
Although ranked second in the world, Việt Nam’s coffee exports are plummeting. Sadly, the price of Vietnamese coffee exports is ranked close to the bottom, much cheaper than the same type of coffee from other countries.
— Viet Nam News

Market growth to slow as momentum runs out
Việt Nam’s benchmark VN-Index has climbed to the highest level in three weeks but analysts have warned positive market sentiment may not last in the coming week.
— Viet Nam News

Upgraded Thaco KIA factory inaugurated
Trường Hải Auto Corporation (Thaco) on Saturday inaugurated the upgraded Thaco KIA factory at Tam Hiệp Industrial Park in the central province of Quảng Nam’s Chu Lai Open Economic Zone.
— Viet Nam News

The 8 contenders to watch for in Vietnam’s burgeoning fintech ecosystem
The eight companies solve different finance problems the country have seen, by providing solutions from P2P lending to e-wallet According to the data uncovered by Solidiance, an APAC-focused consultancy firm, Vietnam’s fintech market is predicted to reach US$7.8 billion by 2020.
— e27

Mitsubishi to start building the Xpander in Vietnam by 2020
There’s no doubt that the Xpander is one of Mitsubishi’s best selling models today. In fact, the automaker even had to increase production at the lone Indonesia plant building it, to keep up with demand. They even plan to further expand the plant’s capacity to produce the popular 7-seat model.
— Auto Industriya

Philippine, Vietnam navies forge bond, pray for peace on disputed island beach
In a bid to show cooperation and unity among claimants in the West Philippine Sea despite overlapping claims, the navies of the Philippines and Vietnam recently gathered on a disputed island to play sports and exchange cultures.
— The Phnom Penh Post

Vietnam sees pangasius sales improving as inventories begin to clear
Vietnam’s pangasius sector is hoping sales, and prices, can pick up in the coming weeks, after a sluggish first half to the year.
— Undercurrent News

The secret ingredient in Vietnam’s most indulgent bowl of pho
But at Peter Cuong Franklin’s acclaimed Ho Chi Minh City restaurant Anan Saigon, the noodle dish is taken to a whole new level of delicious thanks to an unexpected secret ingredient — Japanese sake, or rice wine.
— CNN

USAID project assists Thua Thien – Hue in forest management
The US Agency for International Development (USAID)’s Green Annamites Project has recently equipped the central province of Thua Thien-Hue with a forest management system.
— VietnamPlus

Saigon apartment prices balloon in last 5 years
Apartment prices in HCMC have risen by more 50 percent across all segments since 2015, real estate firm DKRA said.
— VnExpress

Tiki signs loan deal with foreign fund
International debt finance fund Innoven Capital has announced credit deals with e-commerce company Tiki and UP Co-working Space.
— VnExpress

Hanoi strengthens ties with counterparts in Spain and Switzerland
Hanoi wishes to further promote friendly cooperation with localities of Spain and Switzerland for the city’s socio-economic development.
— The Hanoitimes

France-Việt Nam waterway shipping route inaugurated
Nearly 600 tonnes of malt from France’s central Bourgogne-Franche-Comte region will be shipped weekly to Việt Nam via a new waterway route linking an inland port in the French department of Yonne with Cái Mép seaport in HCM City.
— Viet Nam News

HSBC Vietnam has new CEO
Before taking the helm at HSBC Vietnam, Tim Evans served as HSBC’s Regional Head of Commercial Banking, International Markets in Asia-Pacific, covering Bangladesh, Mauritius, New Zealand, Maldives, Sri Lanka, Taiwan, Thailand and Vietnam
— The Hanoitimes

Vietnam highlighted among the most promising consumer markets
Further underpinning the Vietnamese positive consumer outlook in 2019 is the fact that minimum wage growth continues, albeit at a slower rate.
— The Hanoitimes

Executive interview: How Sendo differentiates itself from competitors in Vietnam
Founded in 2012 as part of Vietnam’s largest IT services company FPT Corporation, Sendo is a notable homegrown platform that’s been staying competitive in the country’s burgeoning e-commerce sector.
— Vietnam Insider

Trump’s targeting of Vietnam is misguided
Vietnam is increasingly caught up in Donald Trump’s protectionist trade policies. The culprit is its trade surplus with the US — on track to reach $50bn this year.
— Financial Times

Huge Growth Opportunities in the Vietnam International and MICE Tourism Market and Forecast
Huge Growth Opportunities in the Vietnam International and MICE Tourism Market and Forecast? offers the most up?to?date industry data on the actual market situation and future outlook for Vietnam International and Meetings, Incentives, Conferences and Exhibitions (MICE) travelers? market.
— Financial Express

Auto stocks to grow thanks to rising consumption
Automobile stocks are expected to lure more investment thanks to the growth of market consumption, forecast to reach over 500,000 vehicles per year from 2021.
— Viet Nam News

Petrol price slightly drop
The retail price of petrol has dropped as of 3pm on Monday, the ministries of industry and trade and finance jointly announced.
— Viet Nam News

BIM Land to get $87.5m from IFC to develop tourism in Việt Nam and Lao PDR
BIM Land Joint Stock Company, a property developer under BIM Group, has reached an agreement with International Finance Corporation (IFC), a member of the World Bank Group, for a loan of up to US$87.5 million to develop tourism infrastructure in Việt Nam and Lao PDR.
— Viet Nam News

More local firms join global supply chains
More and more Vietnamese enterprises have become suppliers of supporting products to overseas markets such as the US, Republic of Korea, Japan and Europe.
— Viet Nam News

Fitch Ratings assigns PetroVietnam at ‘BB’ for first time
Fitch Ratings has assigned the Vietnam Oil and Gas Group’s (PetroVietnam or PVN) first-time long-term foreign-currency issuer default rating (IDR) at ‘BB’ with a positive outlook.
— Viet Nam News

Ho Chi Minh City tries to deter dog eating
Food safety officials in Ho Chi Minh City have urged locals to stop eating dog meat in an effort to improve the national image, an official says.
— Juneesoutherncross

GIC buys into Vietnam’s Vingroup retail unit
A GIC-led investment group has purchased a minority shareholding in a Vingroup JSC retail business for US$500 million.
— Insider Retail

Feature photo James Mason-Hudson

This week’s Vietnam morning news feature photo focus on regional parliament houses.

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).

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