Vietnam Morning News For April 7

Trump’s Trade Threats Forcing Export-Dependent Vietnam to Pivot
President Donald Trump’s withdrawal from a Pacific Rim trade deal was viewed as a glancing blow by Vietnam’s Phu Tai Corp., which makes furniture for Wal-Mart outlets. The knockout punch may come if he follows through on threats of protectionism.
— Bloomberg

Vietnam’s Dragon Capital inks microfinance JV with Myanmar’s Loi Hein Group
Vietnam’s investment firm Dragon Capital has forged a joint venture with Myanmar-based Ruby Financial Company to provide microfinance services in the frontier market. Loi Hein Group’s Ruby Hill Financial will hold a majority stake of 51 per cent in the JV, while Dragon Capital will own the rest.
— Deal Street Asia

Credit growth reaches 3.14% till March 23
Lending from January to March 23 rose by 3.14 per cent against the end of last year, according to a new report from the State Bank of Việt Nam (SBV).
— Viet Nam News

Low FDI in Mekong Delta attributed to poor infrastructure
An official has attributed low foreign direct investment (FDI) in the Mekong Delta over the past years to poor infrastructure.
— Saigon

Decree imposes fines on minerals, water resources violations
The Government has issued a decree on punishments for administrative violations in the minerals and water resources sectors, imposing fines ranging from VNĐ250 million (US$11,125) to VNĐ2 billion ($89,000).
— Viet Nam News

Education Ministry gives recognition to more foreign degrees
The number of applications for recognition of foreign degrees made to the Ministry of Education and Training (MOET) increased by 44 times in 2008-2016.
— VietNamNet Bridge

Hanoi to make effort to attract resources for investment and development
Hanoi Party Committee has recently organized a meeting to collect feedback of leaders of ministries and central agencies, focusing on five years of implementing the 11th Politburo’s Resolution 11 entitled “Orientation and mission for development of Hanoi in the 2011-2020 period” and three years of implementing the Capital Law.
— Hanoi Times

Solar power costs remain high in Vietnam
Vietnam’s renewable energy production costs remain higher than other countries as the country still does not have a competitive solar energy market.
— VietNamNet Bridge

SBV to issue regulations on $4.4b preferential credit package in April
The State Bank of Việt Nam (SBV) will issue regulations on guiding commercial banks to implement a VNĐ100 trillion (US$4.4 billion) credit package with preferential interest rates for high-tech agriculture projects.
— Viet Nam News

Vietnamese startup scores series C funding
Việt Nam-based mobile platform provider Appota announced on Thursday it had successfully raised undisclosed funding for its series C round from two investment funds in the Republic of Korea (RoK), according to the Đầu Tư (Investment) newspaper.
— Viet Nam News

PM requires expanding North-South Expressway to 6-10 lanes
The Prime Minister has assigned the Ministry of Transport to review and adjust the country’s expressway network plan by 2020 to expand North South Expressway to 6-10 lanes to suit the country’s development demand.
— Saigon

Air Asia makes plans to fly in Vietnam, for the fourth time
Air Asia will contribute 30 percent of the joint venture’s capital, while Gumin holds 69.9 percent of capital and HAA will provide transport facilities. The new air carrier is expected to take off early next year.
— VietNamNet Bridge

Valmet to supply automation technology to Vietnam Oil and Gas Group’s Long Phu 1 thermal power plant project in Vietnam
Valmet will supply automation to Vietnam Oil and Gas Group’s (PetroVietnam) Long Phu 1 thermal power plant project in Long Phu District, Soc Trang Province, Vietnam. The order was placed by OJSC Power Machines (Power Machines), St. Petersburg, Russia, as the general contractor and consortium leader for the project and Valmet’s value-added reseller.
— GlobeNewswire

Vietnam Gets Tough On Digital Suppliers’ Tax Non-Compliance
Vietnam is cracking down on businesses seeking to evade value-added tax by transacting with consumers through social media sites and messaging services.
— Tax-News

Hanoi district to resettle street vendors in local market
Authorities in Hanoi will reserve a part of the Thanh Xuan Bac Market in Thanh Xuan District for those street vendors who have been forced off the sidewalks in ongoing campaigns to restore order on the streets.
— Tuoi Tre News

Vietnamese apparel firms avoid stock market for now
Although Vietnamese apparel company movement toward the stock market is an inevitable trend in a market economy, only 30 businesses of the sector’s total of 6,000 have listed so far.
— Vietnam Plus

Vietnam’s pepper products to be traded on VNX
The Ministry of Industry and Trade (MoIT) has added pepper to the list of commodities traded on the Vietnam Commodity Exchange (VNX), according to the ministry’s Decision 1071/QD-BCT issued last week.
— Vietnam Plus

Vietnam products seek inroads into Argentinean market
Representatives from the Trade Office of the Vietnamese Embassy in Argentina had a working session with leaders of the Coto Group to explore opportunities for Vietnamese products to penetrate into the South America country’s leading super-market chain.
— Vietnam Plus

PM urges increasing added-value of rice
Prime Minister Nguyễn Xuân Phúc has urged ministries, sectors and localities to work hard to enhance the added-value of Vietnamese rice.
— Viet Nam News

Online bargain app launched
An online bargain app for mobile phone users, called hago.me, has been launched, allowing online shoppers to freely haggle with various store owners for a product at the same time.
— VietNamNet Bridge

Vietnam Emerged as Major Market for Indian Shrimp Exports in 2016
At the same time that India has become as major shrimp supplier to the US market, it has also stepped up exports to Vietnam with shipments in some months even surpassing those to the US.
— SeaFood News

Feature photo Sharon Ang
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Vietnam Morning News For April 7 added by Leakhena Khat on April 7, 2017
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Leakhena Khat

Leakhena is a junior journalist at AEC News Today who is also currently studying International Relations, which she finds adds perspective to her work reporting on the Asean Community.

“I love what I am doing so much as it gives me a lot of great experience and provides challenges to my mind.