Vietnam Morning News For July 21

Vietnam Morning News For July 21
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Vietnam morning newsHSBC lowers 2017 economic growth forecast for Vietnam
Vietnam’s economy is likely to grow by only 6 percent this year, HSBC said in a new report released on Wednesday, revising down its previous forecast of 6.4 percent.

Private companies’ influence on economy growing
As Thaco’s car sales decreased, the Quang Nam province’s budget revenue suddenly dropped by VND3 trillion. This news has been cited by economists to show the role of large private conglomerates in the economy.
VietnamNet Bridge

HCM City’s industrial production index rises 7.51 percent
Ho Chi Minh City’s index of industrial production (IIP) in the first six months of this year increased 7.51 percent compared to the same period last year, reported the municipal Department of Industry and Trade at a conference on July 19.

Vietnam launches first energy efficiency network
Vietnam has launched its first energy efficiency network in Ho Chi Minh City.

Vietnam plans to top up oil reserves in bid to improve energy security
Vietnam’s prime minister has approved a plan for the country’s total crude oil and oil product stocks to rise to at least 90 days’ worth of net imports by 2020.

VN firms yet to get the hang of AEC
The ASEAN Economic Community (AEC) can be a major catalyst for national growth, but few Vietnamese businesses have grasped the concept and its importance, officials and experts said at a seminar on Wednesday.
Viet Nam News Bizhub

Vietnam ships footwear to nearly 100 countries
Vietnam has shipped footwear products to nearly 100 countries worldwide, with 72 of them buying at least USD 1 million of the products, reported the Vietnam Leather and Footwear Association (LEFASO).
Vietnam Times

Việt Nam’s exports to Algeria grow 37%
Viet Nam’s export revenue to Algeria rose 37 per cent year-on-year to US$190 million in the first half of the year.
Viet Nam News Bizhub

Agro-forestry-fishery exports target 35 billion USD next year
The agricultural sector will aim for a GDP growth rate of between 3 – 3.1 percent and total export value of agro-forestry-fisheries at 34 – 35 billion USD in 2018.

Enterprises urged to grasp food safety standards for export
Given the recent refusal of Vietnamese shipments of agro-forestry-aquatic products from choosy markets, domestic firms have to know about importers’ standards in terms of food hygiene and safety.

Vietnam’s cashew exports to Netherlands on the rise
Vietnam’s cashew nut exports to the Netherlands have enjoyed a considerable hike in the first half of the year.
Fresh Plaza

India firms seek to boost textile machinery exports to Vietnam
Vietnam is a potential market to which Indian businesses are seeking opportunities to boost export of textile machines and equipment, said N.D. Mhatre, Director General (Technical) of the Indian Textile Accessories and Machinery Manufacturers Association (ITAMMA).

Small agri production must end
Vietnam’s agriculture sector needs to end the practice of small-scale production and reorganize it on a larger scale towards high-tech agriculture, the “Reorganizing Agricultural Production” seminar, held prior to the second Vietnam Private Sector Forum (VPSF) at the end of this month, heard.
Vietnam EconomicTimes

Appropriate policies needed to unlock $35b tourism industry
Viet Nam has great tourism potential but the country needs appropriate policies to create breakthroughs to develop tourism into a spearhead industry and affirm its position on the global tourism map, experts have said.
Viet Nam News Bizhub

Tourism market offers opportunities for start-up businesses
Vietnam’s tourism market offers huge opportunities for start-up companies if they promptly seize technological trends to create special and unique tourism products, heard a workshop in Ho Chi Minh City on July 20.

United Overseas Bank to set up Vietnam subsidiary
Singapore’s United Overseas Bank (UOB) announced on July 20 that it will be better positioned to provide stronger support to businesses and consumers in Vietnam as well as its regional clients investing in the country following the receipt of in principle approval from the State Bank of Vietnam to established a foreign-owned subsidiary bank (FOSB) the previous day.
Vietnam EconomicTimes

Cybersecurity firms boom in Vietnam
Internet security firms are cashing in on the increasing number of cyberattacks targeting entities in Vietnam.
Tuoi Tre News

Local plastic products: regain market share
Five to seven years ago, plastic household products originated from Thailand, China, Indonesia occupied the market. However, with the efforts of local enterprises, domestic plastic products have taken a step to regain market share.

Workers over 35 squeezed out of jobs at foreign-invested firms
According to a General Confederation of Labor survey, there are about 300 industrial zones (IZs) and export processing zones (EPZs) throughout the country, attracting 2.8 million workers.
VietnamNet Bridge

Hanoi leaders blamed for blowing millions on late, expensive infrastructure projects
Contractors and investors were hand-picked for most of the projects, which were not put out for tender.

Can Tho lures foreign investment in logistics
The Mekong Delta city of Can Tho wants to lure Singaporean and Japanese investment in the regional logistics centre in the city, a local official said at a meeting in July 19.

PM asks Ben Tre to prioritise land funds for investors
Prime Minister Nguyen Xuan Phuc urged Ben Tre to prioritise land funds for investors while attending an investment promotion conference in the Mekong Delta province on July 20.


Feature photo Thorsten Martens
Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

Vietnam morning news by AEC News Today is your one stop source for Vietnam news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies, not politics.



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