Vietnam Morning News For December 8

PM assigns new State budget estimates, increased basic salary in 2018
Prime Minister Nguyen Xuan Phuc has issued a decision to assign new State budget estimates in 2018 to the relevant authorities and localities, as well as urging them, on the basis of the assigned estimates, to take initiative in deploying the increase in basic salary for civil servants and public employees from July 1 next year.
— Nhan Dan Online

Vietnam’s central bank contemplates ‘mobilizing’ gold from public
The State Bank of Vietnam, the country’s central bank, likes to be the only entity authorized to accept savings in gold bullion and conduct transactions on gold trading floors.
— Tuoi Tre

Vietnam: FDI Strategy for 2018-2023
Vietnam’s Ministry of Planning and Investment, with the assistance of the World Bank, is currently drafting a new FDI strategy for 2018-2023 focusing on priority sectors and quality of investments, rather than quantity.
— Vietnam Briefing

Ho Chi Minh City taxman suggests requiring cashless payment at restaurants
The Ho Chi Minh City tax department has proposed the mandatory use of point-of-sale (POS) machines in place of cash payment at restaurants and other high-end services in order to improve the city’s tax administration.
— Tuoi Tre

Samsung Electronics Vietnam tops largest firms list
Viet Nam Report Company on Tuesday announced the top 500 largest Vietnamese enterprises list (VNR500) in terms of capital, sales and profits.
— VietnamNet Bridge

Vietnam to strengthen ties with Australia
The President of the Vietnam Fatherland Front Central Committee, Tran Thanh Man, expressed his great hopes for Vietnam’s bilateral ties with Australia.
— Fresh Plaza

Vietnam Rubber Group shows signs of violations
According to information published on the Government Port, Prime Minister Nguyen Xuan Phuc asked the Ministry of Public Security to report the investigation results about signs of violations detected at VRG and its member companies in 2006-2011 that the Government Inspectorate of Vietnam published in 2014.
— VietnamNet Bridge

Vietnam, Taiwan strengthen industrial cooperation
Vietnam and Taiwan share huge potential to accelerate bilateral investment cooperation in the field of industry, stated the delegates at the Vietnam-Taiwan Industrial Cooperation Forum 2017, organised by the Vietnam Chamber of Commerce and Industry (VCCI), in Ho Chi Minh City on December 7.
— Nhan Dan Online

Booking.com, Agoda must pay tax in Vietnam
Analysts estimate that the agents earn trillions of dong from the Vietnamese market, but don’t pay one dong of tax.
— VietnamNet Bridge

VN-China firms ink watermelon trade contract
Vietnamese and Chinese enterprises on Wednesday signed agreements in principle on watermelon trade in 2018 and the following years, at a conference in the central province of Quang Ngai.
— Bizhub

Vietnam makes slow progress in listing its banks
Vietnam’s commercial banks are seeing slow progress in floating their shares on the stock market, despite a government target to list 10 banks between 2013 and 2016.
— Nikkei Asian Review

Viet Nam teams up with Denmark on wind power
Tan Hoang Cau Joint Stock Corporation (THC) and Denmark’s Vestas Wind Systems A/S on Wednesday signed a turbine supply contract and a memorandum of understanding on accelerating wind farm development in Viet Nam.
— Bizhub

Vietjet inaugurates Nha Trang – Seoul route
Vietjet has jubilantly inaugurated route from Nha Trang (Vietnam) to South Korea’s key city, Seoul (South Korea) route.
— The Nation

Conference boosts VN-China investment, trade ties
Businesses in Beijing and Tianjin and Hebei provinces in China want to promote investment and trade with Vietnamese partners, according to the Tianjin Foreign Economic and Trade Promotion Association.
— Bizhub

Sumitomo strikes strategic partnership with Vietnamese wood company
The An Cuong Working JSC, one of Vietnam’s leading wood-working and decorative materials companies, has announced a strategic investment and development partnership with the Sumitomo Forestry Group from Japan, under which both will strengthen their cooperation and aim for business expansion.
— Vietnam Economic Times

Capital flow and reforms unite for pharma sector
Pharmaceutical stocks are once again under the limelight thanks to upcoming state withdrawals, new capital inflows, and possible removals of foreign ownership limits.
— VietnamNet Bridge

Hanoi aims for growth of 7.3%-7.8% in 2018
The capital city has set the target of increasing the size of its economy by between 7.3% and 7.8% next year.
— Nhan Dan Online

HD Bank prepares to list on stock exchange
The HCM Stock Exchange (HoSE) announced that it had on Monday received the bank’s application to list on the bourse.
— VietnamNet Bridge

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