Vietnam Morning News For August 23

Government looks to cut special inspection red tape
Local enterprises are spending around 28.6 million working days valued at 14.3 trillion VND (636 million USD) a year to complete administrative procedures for special inspections on imported and exported goods.
— VietnamPlus

Stocks plunge as investors worry
Việt Nam’s benchmark VN Index extended its loss for a second straight session on Tuesday as investors remained pessimistic over trading conditions.
— Viet Nam News

TPP fate to be decided at APEC 2017 in Vietnam
The future of the Trans Pacific Partnership grouping will be decided during the APEC leaders’ summit in Vietnam in November.
— New Straits Times

Vietnam fruit & veg revenues to reach $3.6B in 2017
The basket of fruit and vegetables that Vietnam will offer the world this year will bring revenues of 3.6 billion dollars, authorities confirmed.
— Fresh Plaza

Yamato bringing chilled delivery to Vietnam’s sizzling market
Delivery company Yamato Holdings will launch its flagship temperature-controlled service in Vietnam, where competition is heating up amid a new generation of players.
— Nikkei Asian Review

Vietnam’s debt-collecting agency seizes skyscraper to cover $308 million loan
A skyscraper in downtown Saigon has been seized by the government’s asset management company as collateral for the VND7 trillion ($308 million) debt the investors owe.
— VnExpress

CapitaLand starts private equity fund in Vietnam
CapitaLand has successfully set up its first private equity fund in Vietnam, which closed at US$300 million (S$408.5 million).
— The Straits Times

Digiworld moves into healthcare products
The Digiworld Corporation (DGW) has officially announced its entry into the local healthcare industry with the debut of its first product, Kingsmen, a supplement for men exclusively distributed by the company.
— Vietnam Economic Times

Shipping firms engulfed in difficulties, report losses
Vinafco’s Q2 financial report showed that the company’s business performance continued to decline in the first six months of the year.
— VietnamNet Bridge

MPI proposes big breaks for special economic zones
The investment incentives are contained in a draft Law on Special Administrative Economic Units that the ministry has prepared for submission to the Government and the National Assembly (NA).
— VietnamNet Bridge

Binh Duong strives to become ideal destination for investors
Southern Binh Duong province has been striving to build a friendly administration and turn itself into an ideal destination for investors.
— VietnamPlus

Vietnam needs better policies to tap solar power potential
The Vietnam Sustainable Energy Alliance (VSEA) said the country lacks a set of standards for the development of solar power, which is abundant and untapped.
— VietnamPlus

Green growth – a magnet for foreign investors
Green development projects in Vietnam are catching attention of foreign investors on account of the Government’s favourable policies on land, taxes and capital as well as a large number of potential customers in the country, said Duong Thanh An, Head of the Policy and Legal Affairs Department under the Vietnam Environment Administration.
— VietnamPlus

Minister urges Japan to increase investment in VN
Indirect investment from Japan into Viet Nam remain relatively modest compared to the potential of Japan and the ability to absorb investment capital sources of Vietnamese market, finance minister Dinh Tien Dung said.
— Bizhub

Speed Queen opens first laundry in Vietnam
Alliance Laundry Systems from the US inaugurated its first laundry, Speed Queen, on August 19 at the Sai Gon Pearl Building in Ho Chi Minh City’s Binh Thanh district.
— Vietnam Economic Times

PM urges Vietnam and Egypt to increase two-way trade
Trade between Vietnam and Egypt could develop strongly from the current annual level of US$400 million if the two sides make good use of cooperation opportunities.
— Nhan Dan

Household spending on children in Vietnam surges
Rising incomes in Vietnam are encouraging parents and grandparents to spend more for their children, fueling the expansion of baby store chains as well as expensive educational services such as in-home tutoring programs and swimming lessons.
— Nikkei Asian Review

Phu Trong visit to boost VN’s economic ties with Myanmar
Economic activities between Myanmar and Vietnam are likely to be more active thanks to the upcoming visit by Phu Trong, general secretary of the Communist Party of Vietnam (CPV), says Chu Cong Phung, former Vietnamese ambassador to Myanmar.
— The Nation

India is 3rd-largest importer of Vietnam pepper
India became the third-largest importer of Vietnamese pepper in the January-July period, overtaking the UAE. Much of the Vietnamese export of 3,113 tonnes of pepper to Sri Lanka might have also found its way into the country, Kishor Shamji, a veteran pepper exporter told BusinessLine.
— The Hindu Business Times

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