Vietnam Morning News For December 11

Vietnam to cut costs, rules for firms
THE PRIVATE business sector in Vietnam is vital for the economy, however, obstacles and challenges remain, which can only be overcome through the combined efforts of policymakers and business leaders next year.
— The Nation

Vietnam plans to raise over $570m through IPOs in energy firms
Vietnam hopes to raise a total of more than $570 million by selling stakes in an oil refinery, an oil distribution firm and a power company, the government website said on Saturday.
— DealStreetAsia

Vietnam police arrest ex-politburo member over misconduct
Vietnamese police arrested on Friday a former top Communist Party official suspected of misconduct while he was chairman of the main state energy firm, the first former politburo member to face prosecution in decades.
— Nikkei Asian Review

Property inventories drop by 17 percent
Real estate inventories were estimated at 25.7 trillion VND (1.13 billion USD) at the end of November, according to the Housing and Real Estate Market Management Department under the Ministry of Construction.
— VietnamPlus

Vietnam finally rolls with privatisation drive as investors show thinning patience
Foreign investors and bankers who flocked to Vietnam in the past two decades as they sought to cash in on government plans to sell state assets usually left frustrated as what was promised rarely materialised.
— DealStreetAsia

Global brewers line up bids for Sabeco sale
Brewing groups including Thai Beverage, Anheuser-Busch InBev and Kirin Holdings are gearing up to bid for a stake in Vietnam’s largest brewer, Sabeco, people familiar with the matter said, with the $5 billion sale process by the government opening this week.
— DealStreetAsia

Vietnam’s seafood sector looks to long-term growth
Vietnam’s seafood exports have seen rapid growth over the past 11 months and this year’s total revenue is expected to reach an all-time high, but more efforts are needed to ensure this growth is sustainable.
— Nhan Dan Online

USG Boral to Invest USD20 Million in Vietnam to Expand Production
USG Boral, a global leader in building products technology, announced its plans to expand production in Vietnam, with a USD20 million investment in a plant at Hiep Phuoc Industrial Zone, Ho Chi Minh City.
— Business Insider

VAT refund process needs simplifying: experts
Experts have urged simplifying the procedures to receive refunds on value-added tax (VAT) for foreign tourists.
— Bizhub

Gov’t suspends change to red book rules
The Ministry of Resources and Environment early this week issued a circular suspending a regulation that required each family to include information about every member in their certificate of land use rights, or red book, instead of only the head of household.
— Bizhub

Vietnam refinery inks crude oil supply deals with SOCAR, Glencore
The operator of Vietnam’s only operating refinery and a state-run oil giant have signed initial agreements with two foreign trading companies for annual crude supplies over dropping domestic production.
— Tuoi Tre

HCM City highly appreciates WB’s support
Ho Chi Minh City highly appreciates the World Bank (WB)’s support and always considers it as an important partner of the city, said a local official.
— VietnamPlus

Hotel real estate needs better plans
Viet Nam’s hotel and resort real estate needs to have a comprehensive plan to ensure its development is on the right track.
— Bizhub

VN goods enjoy promotion gains
A programme launched by HCM City has proved to be effective in promoting local-made products and supporting domestic businesses to develop brands and improve their production.
— Viet Nam News

Weak coffee demand in Vietnam amid erratic weather, prices steady
Demand for robusta coffee beans was slow this week in major producer Vietnam at a time when erratic weather slowed down bean processing in the country’s Central Highlands, traders said on Thursday.
— Tuoi Tre

VN’s 2018 economic prospects look up
In their latest report, experts at the Australia and New Zealand Banking Group (ANZ) are optimistic about Việt Nam’s 2018 economic situation.
— Viet Nam News

TOUS les JOURS launches new brand identity
CJ Foodville’s bakery brand TOUS les JOURS launched a new brand identity on December 7 at its Hai Ba Trung outlet in Ho Chi Minh City’s District 1.
— Vietnam Economic Times

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