Vietnam Morning News For June 15

Vietnam Internet speed improves
The average Internet speed in Vietnam has risen to 9.5 megabit per second (Mbps) to take the 58th spot in the world rankings, according to a report by content delivery network service provider Akamai.
– VietnamNet Bridge

First cargo train linking VN, China sets off
The first cargo train on the 854-km route connecting Việt Nam and southwest China departed from China’s Kunming City for Hải Phòng Port on Tuesday afternoon.
– Viet Nam News

Vietnam to update technology in 4G-to-5G transition
Director of the Authority of Radio Frequency Management (ARFM) Doan Quang Hoan has recently said that Vietnam needs to avoid ineffective investment and outdated technology in the transition from 4G to 5G.
– Hanoitimes

China Vietnam’s largest trade partner in 5M
China was Vietnam’s largest trade partner in the first five months of this year, with turnover of $32.76 billion, up 23.6 per cent year-on-year, according to General Department of Vietnam Customs.
– Vietnam EconomicTimes

How are Japanese investors conquering Vietnam’s retail market?
7-Eleven has announced it will open its first shop in Vietnam on June 15. Aeon, MiniStop and FamilyMart have already joined one of the fastest growing retail markets in the world.
– Vietnam Times

Domestic firms’ 5M trade deficit at $9.31 billion
While foreign-invested enterprises (FIEs) continued to record a trade surplus in the first five months of this year, domestic enterprises saw a trade deficit of $9.31 billion, contributing substantially to Vietnam’s overall trade deficit of $2.7 billion in the period.
– Vietnam EconomicTimes

Minister stresses improving efficiency of public, foreign investment
Minister of Planning and Investment Nguyen Chi Dung stressed improving the efficiency of public and foreign investment during a Q&A session at the 14th National Assembly’s ongoing third plenum in Hanoi on June 14.
– VietnamPlus

Consumer loans rise nearly 30% by end May
Consumer lending by end May rose 29.7 per cent against the end of 2016, the National Financial Supervisory Commission (NFSC) has said.
– Viet Nam News

FAO: Vietnam to have among largest rice quantities this year
The United Nations’ Food and Agriculture Organization (FAO) has predicted that Vietnam will be among the Top 5 countries in terms of rice quantities in 2017.
– Vietnam EconomicTimes

PPP –optimal solution to infrastructure investment in HCM City
Public-private partnership (PPP) is one of the optimal solutions to investment attraction for infrastructure projects in Ho Chi Minh City, said Chairman of the municipal People’s Committee Nguyen Thanh Phong.
– VietnamPlus

Japanese company seeks opportunity in Can Tho infrastructure
A delegation of the Eight-Japan Engineering Consultants Inc. (EJECT) met authorities of the Mekong Delta city of Can Tho on June 13 to discuss joint local infrastructure projects.
– Viet Nam News Bizhub

Solar energy provider ET Solar wishes to invest in Can Tho
The multinational group ET Solar held a working session with authorities of the Mekong Delta city of Can Tho on June 14 to seek business opportunities in solar energy supply.
– VietnamPlus

How expensive are cars in Vietnam?
Foreign-invested automobile manufacturers have denied a MOIT report about Vietnam’s automobile industry that says assembled-in-Vietnam cars are twice as expensive as Thailand’s and Indonesia’s.
– VietnamNet Bridge

Viet Capital Bank’s cheap loans for small firms
Viet Capital Bank has earmarked VND600 billion (US$26.38 million) for lending to small and medium-sized enterprises based in HCM City and the north at an interest rate of 7 per cent.
– Viet Nam News Bizhub

Shinhan Bank and Hanwha Life Insurance come together
Hanwha Life Insurance Vietnam has signed a strategic bancassurance agreement with Shinhan Bank Vietnam, under which the latter will provide the former with insurance products to customers using its sales channels in the country.
– Vietnam EconomicTimes

Vietnam Airlines targets nearly $4 bln in revenue for 2017
Vietnam’s national flag carrier Vietnam Airlines (VNA) has set a revenue target of VND87.9 trillion (nearly $4 billion) for 2017, up 22.7 percent from last year, reported VnEconomy.
– VnExpress

Zara looking to zip up fashion market with new store in Hanoi
High street retailer Zara has announced plans to open its first store in Hanoi in October, VnEconomy reported.
– VnExpress

Four VN universities get accreditation from France
Four universities in Việt Nam have been evaluated and accredited for meeting international standards by the High Council for Evaluation of Research and Higher Education (HCERES) in France.
– Viet Nam News

City Council passes green resolution
The HCM City People’s Council has passed a resolution on environmental protection and solid waste management in urban and residential areas, with the target of significantly improving the environment, an issue that has taken on urgency.
– Viet Nam News

More rhino horns seized at Tan Son Nhat airport
Rhino horns weighing nearly 4 kilogrammes with estimated value of nearly 8 billion VND (over 352,000 USD) have been seized at Tan Son Nhat International Airport, the airport’s custom officers said on June 14.
– VietnamPlus

Feature photo Jorge Cancela
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