Vietnam Morning News For December 1

November motor car imports at $200mn
Vietnam imported around 7,000 completely-built-up (CBU) motor vehicles worth $200 million in November, according to the latest report from the General Statistics Office (GSO).
— Vietnam Economic TimesPreview (opens in a new window)

Vietnam wooden furniture products now target high-end market
According to GDC (General Department of Customs), the export turnover of wood and woodwork in the first nine months of the year reached $5.55 billion, an increase of 11.3 percent over the same period last year.
— VietnamNet Bridge

VNA & Agribank sign cooperation agreement
Vietnam Airlines (VNA) and the Vietnam Bank for Agriculture and Rural Development (Agribank) have signed a cooperation agreement that marks the deepening cooperation between the two sides.
— Vietnam Economic Times

Vietnam works towards increasing fruit and veg quality & security with foreign investment
Vietnam has been working to increase food security across the country and their efforts are starting to show results, Vietnam+ reports.
— Fresh Plaza

Vietnam’s ministry details Grab app’s losses ahead of tax inspection
Despite Grab Vietnam’s registered capital of US$881,057, the company has accumulated losses of $41.32 million over the past three years
— Tuoi Tre

Sacombank’s shareholders don’t want listing transferred to HNX
Shareholders of the Saigon Thuong Tin Commercial Joint Stock Bank (Sacombank) disagreed with the bank’s decision to transfer its listing to the Hà Nội Stock Exchange (HNX) under new code SCM.
— Viet Nam News

Viettel tops list of most profitable companies
Military-run telecom operator Viettel Group tops the list of 500 most profitable companies, briefly called Profit500 list in Việt Nam, according to a ranking announced by Việt Nam Report Company.
— Viet Nam News

EU-Vietnam trade deal to remove tariffs on fruits and vegetables
If all goes according to plan the EU-Vietnam Free Trade Agreement (EVFTA) will be signed next year, says Vietnam Net.
— Fresh Plaza

Vietnam’s company to plant 500 ha of rubber in Laos
Quang Tri Rubber Co. Ldt., a subsidy of the under the Vietnam Rubber Group (VRG), will plant 500 hectares of rubber and build a rubber processing factory in Saravane province, Laos under a land leasing contract signed on November 29 in Vientiane.
— Nhan Dan Online

Hanoi reports 8.5 percent rise in industrial production in Nov
Hanoi’s industrial production index showed an 8.5 percent rise year-on-year in November, according to the city’s statistics office.
— VietnamPlus

Agricultural products seek to gain footholds in foreign markets
Vietnam is working towards achieving higher levels of food security.
— VietnamPlus

South Korea’s Hyosung eyes Japan market by way of Vietnam
South Korean chemical maker Hyosung is looking to finally establish a name for itself in Japan — and eventually the rest of the world — by using Vietnam as a back door.
— Nikkei Asian Review

Asia Digest: Thai Beverage buys out Vietnamese consultancy; Fosun’s Onelinkplus, EasyPnP form JV
In a few deals in the region, Thai Beverage Pcl has acquired the remaining 49 per cent interest in Vietnam F&B Alliance Investment Joint Stock Company for VND98 million ($4,321) while enterprise procurement solutions firm Onelinkplus, a subsidiary of Fosun Group, are forming a procurement joint venture company with Chinese enterprise non-core procurement platform EasyPnP.
— DealStreetAsia

German firms eye investment in Ha Noi
Members of the German Asia-Pacific Business Association (OAV) are keen to explore co-operation opportunities in urban development, infrastructure facility, means of transportation, energy, environment and human resources in Ha Noi.
— Bizhub

Argentina aims to up exports to Vietnam
Argentina wants to boost exports of agricultural products to Vietnam and at the same time buy more Vietnamese products, an agriculture official from the South American country has said.
— VietnamPlus

Internet of Things to drive VN’s digital future
The massive potential of Internet of Things (IoT) is set to help Viet Nam pursue its goal of a smart city and becoming an industrial country by 2020, experts said at an international conference held on Thursday in HCM City.
— Bizhub

Vietnam-Poland economic forum opens in HCM City
A Vietnam-Poland economic forum convened in Ho Chi Minh City on November 30 with the attendance of Polish President Andrzej Duda who is currently on a visit to Vietnam.
— Nhan Dan Online

Over VND2.7 quadrillion pumped in Vietnam’s economy
Over VND2.7 quadrillion (US$118.8 billion) has been pumped in the national economy over the past 11 months thanks to the establishment of more than 116,000 enterprises and the capital expansion of more than 32,200 others during the 11-month period.
— Nhan Dan Online

Farmers struggle to approach retailers
Start-ups come to such conferences for retailers to approach distributors as if they want their products on shelves, they need to reach big retailers. Yet, it’s not easy for them.
— VietnamNet Bridge

Eyebrows raised over Vietnam’s flight subsidy policy
Industry insiders have warned that using state money to provide subsidies for empty seats on flights to and from unpopular airports, a scheme widely adapted in provinces across Vietnam, is not a viable policy.
— Tuoi Tre

Grasping transpacific opportunities
The two words ‘comprehensive’ and ‘progressive’ which have been supplemented to the CPTPP, the new version of the TPP, express the determination to revive the TPP and the negotiation efforts of the 11 CPTPP member countries.
— VietnamNet Bridge

Mobile payments boom, but not in Vietnam
Can Van Luc, a banking expert from BIDV, said current conditions are all favorable for mobile payments to develop: the retail market and e-commerce are thriving, while bank cards and smartphones are more popular.
— VietnamNet Bridge

Whopping interest, no problem: Saigon consumers willing to borrow for personal spending
Inflated interest rates have not kept Ho Chi Minh City shoppers from borrowing loans from consumer finance companies, as evidenced by official statistics.
— Tuoi Tre

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