Vietnam Morning News For June 1

Vietnam Morning News For June 1
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Vietnam morning newsVietnam PM Teases US $17 Billion Goods Deal Amid Washington Visit
Vietnam’s Prime Minister Nguyen Xuan Phuc said he intends to sign a deal for mostly high-tech imports from the United States worth U.S. $15-17 billion during his visit to Washington, ahead of a meeting with U.S. President Donald Trump scheduled for Wednesday.
— Radio Free Asia

6.7 percent GDP growth rate challenge for Vietnam: economists
As the GDP growth rate was low, at 5.1 percent, in the first quarter of the year, Vietnam will have to speed up in the remaining months of the year.

Vietnam manufacturing PMI slips to 14-month low
Vietnam’s manufacturing sector last month saw its weakest growth since March 2016 as companies reported slower rises in output and new orders.
— Financial Times

Vietnamese realty firm FLC aims to fly with new $31m airline venture
Vietnam-based property developer FLC Group will establish a wholly-owned airline subsidiary, headquartered in Hanoi, after Malaysia’s AirAsia planned a low-cost carrier in Vietnam and Vietjet successfully raised money from investors.
– Deal Street Asia

HCM City tax department to monitor social media businesses
The Ho Chi Minh City Department of Taxation has said recently that its data center is checking Facebook accounts used for conducting business, with a view to determining any tax obligations.

Vietnam’s job market boils hotter than regional peers
Most recruiters in Vietnam are thirsty for candidates to fill managerial and junior positions.
— VnExpress

Country’s aquatic products export hits $2.8 billion
The export turnover for aquatic products touched US$618 million in May, pushing the total amount in 2017 to $2.8 billion, a year-on-year rise of 10.4 per cent.
— Viet Nam News

VN dairy industry boasts potential
Viet Nam’s dairy industry is witnessing strong and rapid growth, Bui Truong Thang, Deputy Director General of Light Industry Department under the Ministry of Industry and Trade, said during a seminar in Ha Noi yesterday.
— Viet Nam News

$1 billion within 3 days: stock market records 10-year high
Although records have been beaten, the market is different from the ‘bubble period’ in 2007. In early May, there were more sellers than buyers, a time when many people often buy.

GE signs $5.58bn in power, aviation deals in Vietnam
General Electric Co said on Wednesday it had signed deals inVietnam worth about $5.58 billion for power generation, aircraft engines and services, its largest single combined sale with the country in GE’s history.
— Nikkei Asian Review

Vietnam refinery operator valued at $3.21 bln – trade ministry
Vietnam’s sole refinery operator Binh Son Refinery (BSR) has been valued at 72.88 trillion dong ($3.21 billion) as at end-2015, the trade ministry said in a statement seen by Reuters on Thursday.
— Reuters

VN’s exports improve, driven by FDI sector
Việt Nam exports touched US$79.29 billion in the first five months of this year, representing a rise of 17.4 per cent over the same period last year.
Viet Nam News

Ha Noi has nearly 10,000 new enterprises until May
Up to 9,725 new enterprises have been established in Ha Noi during the first five months of this year, with total registered capital of VND73.4 trillion (US$3.23 billion), year-on-year increases of 13 per cent and 5 per cent, respectively.
— Viet Nam News

Explosion Rocks Steel Plant in Central Vietnam That Caused Massive Toxic Spill
An explosion has occurred at Taiwanese-owned Formosa Plastics Group’s steel mill in central Vietnam’s Ha Tinh province, one day after the facility came online for the first time since causing a catastrophic toxic waste spill in April 2016.
— Radio Free Asia

Trump hails deals worth ‘billions’ with Vietnam
U.S. President Donald Trump talked trade with Vietnamese Prime Minister Nguyen Xuan Phuc during a White House visit on Wednesday and welcomed the signing of business deals worth billions of dollars and the jobs they would create.
— Reuters

MoIT urged to fine-tune draft plan on industrial restructuring
The Ministry of Industry and Trade (MoIT) should further clarify weaknesses and bottlenecks in the current development of industries so as to have a better plan on industrial restructuring, many insiders said at a workshop in Hanoi on May 31.
— VietnamPlus

HCMC to establish Project Development Fund
The Ho Chi Minh City People’s Committee has approved the establishment of a Project Development Fund (PDF).
— Vietnam Economic Times

Programme to support pig farmers launched
The Central Committee of Việt Nam Youth Federation and DSF Vietnam Co. on May 31 launched a programme called “Support Farmers – Price Subsidy to Consumers” to help farmers sell their unsold pigs at reasonable prices.
— Viet Nam News


Feature photo Guido Da Rozze
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