Vietnam Morning News For July 25

Government targets 6.4-6.8% growth in 2018
The Ministry of Planning and Investment is targeting an economic growth rate of 6.4 per cent to 6.8 per cent for Viet Nam in 2018, according to a document sent to ministries and local authorities with guidelines to develop the socio-economic plan for 2018.
– Viet Nam News Bizhub

IMF: Vietnam’s dynamic economy continues to do well
“Strong manufacturing and FDI, an improving construction sector, and robust domestic demand continue to underpin activity [in Vietnam],” Mr. Ranil Salgado, Assistant Director, Asia and Pacific Department at the International Monetary Fund (IMF), told the recent launch of its World Economic Outlook (WEO) Update in Kuala Lumpur, Malaysia.
– Vietnam EconomicTimes

Green tax hike on petrol
The Ministry of Finance (MoF) is going ahead with its plan to increase environmental protection tax on petroleum from the current VND1,000-4,000 to VND3,000-8,000 per litre, despite objections from other ministries and the public.
– Viet Nam News Bizhub

HN: 179 electricity grid works operated in H1
Ha Noi Power Corporation (EVN Ha Noi) put into operation 179 medium and low voltage grid works in the first six months of the year, contributing to providing electricity for production and daily living of residents.
– Viet Nam News Bizhub

FDI attraction in first half records new peak
This business is one of more than 1,000 foreign enterprises granted investment licences in Vietnam in the first six months of 2017.
– VietnamPlus

Vietnam, RoK enjoy thriving trade
The Republic of Korea (RoK) surpassed the US to become the second largest trade partner of Vietnam, with two-way trade hitting 29.1 billion USD in the first six months of this year.
– VietnamPlus

Vietnam, Laos work closely to promote trade
Since Vietnam and Laos set up diplomatic relations in 1962, the relationship between the two countries has flourished thanks to efforts from both sides to make ties deeper and more effective, especially in economy, trade and investment.
– VietnamPlus

Aussie firms seek VN investments
Australian food, rice processing and information technology companies want to accelerate co-operation and expand operations in Việt Nam, according to Australian officials and business representatives who met yesterday in Sydney with Deputy Prime Minister Vương Đình Huệ.
– Viet Nam News

Hybrid corn seeds dominate fields in Vietnam
All corn fields in Vietnam use hybrid seeds, with the volume of seeds used for annual production amounting to about 20,000 tonnes, said the Plantation Department under the Ministry of Agriculture and Rural Development.
– VietnamPlus

Influx of local travellers feeds vital hotel market
Vietnam’s hotel segment continues to attract a great deal of capital to serve the booming tourism sector.
– VietnamNet Bridge

Consumer credit grows rapidly as retailers thrive
The appearance of big foreign retail chains like CircleK, Shop&Go, FamilyMart and Aeon and the strong rise of Vietnamese chains Vinamart, Co-op and The Gioi Di Dong have fostered the development of consumer credit in Vietnam, according to the State Bank of Vietnam.
– VietnamNet Bridge

Bright outlook for franchising in Vietnam
This coffee enterprise has franchised more than 2,000 outlets nationwide since 2010.
– VietnamPlus

Sweets industry still pulling in investors
Though the growth of the sweets market has slowed down, it is still attracting investors.
– VietnamNet Bridge

Binh Son Refining and Petrochemical reports positive business results ahead of IPO
Binh Son Refining and Petrochemical Company Limited (BSR), which owns the $3-billion Dung Quat Oil Refinery, reported positive business results in the first half of 2017 and revealed its plans for an IPO.
– VietnamNet Bridge

Saigon Plant Protection company opens branch in Myanmar
The HCM City-based Saigon Plant Protection JSC (SPC) has recently opened a representative office in Myanmar, after obtaining a local licence earlier this year.
– Viet Nam News Bizhub

Starbucks arrives in Hai Phong
Starbucks Vietnam has opened its first outlet in northern Hai Phong city, reaffirming its commitment to thoughtful and disciplined growth in Vietnam.
– Vietnam EconomicTimes

Facebook traders face taxation anxieties
Lê Hà of Hà Nội, who has been selling clothes on Facebook, is stressed and worried after receiving a message from tax authorities inviting her to come and declare her income.
– Viet Nam News

Real estate conglomerates vie for Hanoi railway projects
Real estate developers are seeking land plots in the suburbs, especially in areas with good infrastructure development, as available space in the inner city is diminishing.
– VietnamNet Bridge

HCM City: retail sales, services revenue up 10.2 percent in H1
Ho Chi Minh City’s total retail sales and services revenue are expected to hit nearly 450 trillion VND (19.8 billion USD) in the first half of 2017, up 10.2 percent from the same period last year.
– VietnamPlus

Vietnam hopes to attract investment in tourism
The southernmost province of Ca Mau is calling for investment in two tourism projects worth 1.2 trillion VND (52.7 million USD) in Dat Mui (Cape Ca Mau) tourism area in Ngoc Hien District, and along the Trem River in Thoi Binh District.
– Hanoitimes

Opinion: Why Vietnam needs to expand its visa exemption policy
Nguyen Quoc Ky, CEO of local tour organizer Vietravel, believes Vietnam’s current visa-free travel policy is insufficient and should be expanded to more countries
– Vietnam Times

88,560 smugling cases detected in H1
In the first six months of 2017, authorities uncovered 88,560 cases of smuggling, prosecuting 1,100 cases involving 1,372 people.
– Viet Nam News Bizhub

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