Vietnam Morning News For June 30

GDP bounces back in Q2
Vietnam’s economy bounced back in the second quarter of the year, posting growth of 6.17 per cent, according to official figures from the General Statistics Office (GSO) and driven by gains in the industrial and services sectors, though mining dragged growth down slightly.
– Vietnam EconomicTimes

Vietnamese consumers among most demanding on e-commerce
Viet Nam’s e-commerce may be one of the world’s fastest-growing markets, but the country’s customers are also among the most demanding.
– Viet Nam News Bizhub

Vietnam Report lists 2017’s top 10 commercial banks
Vietnam Report has announced the top 10 commercial banks in Viet Nam in 2017, based on an evaluation of reputation, financial capacity and growth potential in the 2016-17 period.
– VietnamNet Bridge

VN to import petrol for next five years
Viet Nam is expected to continue importing petroleum products for the next five years as production of major oil refineries is unable to meet the increasing local demand.
– Viet Nam News Bizhub

Processing & manufacturing leads in FDI
Processing and manufacturing had attracted more than $180 billion in total foreign direct investment (FDI) capital as at June.
– Vietnam EconomicTimes

FDI into property sector continues rising
The Vietnamese real estate sector has attracted a total foreign direct investment (FDI) of USD701 million in the first half of this year, up 16% on-year.
– VietnamNet Bridge

Japan takes top spot from S.Korea as Vietnam’s largest FDI investor
Japan has replaced South Korea as the largest foreign country or territory investing in Vietnam as the Southeast Asian nation’s multi-billion dollar projects continue to attract investment from overseas.
– Tuoi Tre News

China firms eye opportunities in VN
Executives from 12 companies and business associations in China’s Shandong Province on Wednesday met with more than 50 Vietnamese counterparts in HCM City to discuss the possibilities of collaboration.
– Viet Nam News Bizhub

Viet Nam’s fertiliser imports surge in H1
Viet Nam spent US$628 million on importing 2.34 million tonnes of fertiliser in the first half of this year, surging 24 per cent in volume and 18 per cent in value compared with the same period last year.
– Viet Nam News Bizhub

Vietnam dragon fruit is exported to 40 countries around the world
Vietnamese dragon fruit has been exported to 40 countries and territories such as China, Thailand and Indonesia, according to the Ministry of Agriculture and Rural Development (MARD).
– Fresh Plaza

Funds needed for hi-tech agriculture
Agricultural productivity and quality should be increased by investing more in innovation and strengthening links between all stakeholders, including farmers, enterprises and research institutes, experts say.
– Viet Nam News Bizhub

New WB financing to bolster Việt Nam’s efforts to spur rural development
The World Bank’s Board of Executive Directors approved on Thursday US$153 million in concessional financing to support Việt Nam’s National Target Programmes (NTPs) for rural development and reducing poverty, which are central to the government’s strategy to raise rural incomes and productivity.
– Viet Nam News

Auto firms ask to lower component import taxes
High import taxes on auto components and parts, packaging and logistics expenses are major reasons behind locally-assembled cars costing 10-20 per cent higher than imports from Thailand and Indonesia.
– Viet Nam News

PM pledges all possible support to workers
The Government will offer all possible support to businesses, start-ups and create jobs for workers, Prime Minister Nguyen Xuan Phuc has said.
– Viet Nam News Bizhub

Convenience stores seek ways to differentiate themselves from rivals
Brands are trying to fully exploit their advantage to compete with rivals, but most of them are developing a model that is a hybrid between a convenience store and fast food shop.
– VietnamNet Bridge

SBV may consider lifting credit growth targets: Analysts
The central bank may consider lifting credit growth targets for several banks to support economic growth, according to Bảo Việt Securities.
– Viet Nam News

Tourism plans in Mekong Delta called too ambitious
The Mekong Delta expects 34 million travelers by 2020, but the goal is out of reach if local tourism continues to operate in the traditional way.
– VietnamNet Bridge

City urged to boost competitiveness
HCM City Party Committee Secretary Nguyen Thien Nhan has urged the city to focus on the role of the private sector and continue to improve competitiveness and administrative reform.
– Viet Nam News Bizhub

HCM City to help firms join Samsung’s global supply chain
Ho Chi Minh City is ready to work with Samsung in boosting local enterprises’ capacity in support industry, helping them qualify for the Korean group’s global supply chain, said Secretary of the municipal Party Committee Nguyen Thien Nhan.
– VietnamPlus

HCM City: Service quality key to satisfy tourists
Improving tourism service quality will be given overriding priority in the Ho Chi Minh City Department of Tourism’s policy to make tourists stay longer and spend more, Bui Ta Hoang Vu, director of the department said at a conference held in the city on June 29.
– VietnamPlus

First co-working space for all startup activities opens
The Vuon – Luxury Garden Office, a co-working space belonging to the Vietnam Agency Group (VAG), opened on June 29 in Hanoi.
– Vietnam EconomicTimes

Low-carbon economy in VN’s updated NDC
Việt Nam plans to develop a low-carbon economy and include climate-change resistance work in its updated Nationally Determined Contribution (NDC) for the Paris climate accords.
– Viet Nam News

Feature photo Aleksandr Zykov
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