Vietnam Morning News For June 5

HCM City authorities act as rumours threaten to cause property bubble
Prices in HCM City have increased by 30-70 per cent, reaching up to VNĐ20million (US$900) per square metre in some places.
— Viet Nam News

State treasury raises 5.9 trillion VND from government bonds
The State treasury has successfully raised 5.9 trillion VND (260 million USD) for the State budget through an auction of Government bonds on the Hanoi Stock Exchange (HNX) on June 1.
— VietnamPlus

Vietnam urges nearly 13,500 Facebook retailers to declare tax
Most online transactions in Vietnam involve cash, which is difficult to track and tax.
— VnExpress

Experts assess HCM City property market
Being the economic hub of the country, HCM City has kept developing and attracting people from other regions as well as countries. This migration is one of the factors that keep its real estate market buzzing.
— Viet Nam News

Lotte Duty Free opens first outlet in Vietnam
Lotte Duty Free, the travel retail arm of South Korean conglomerate the Lotte Group, is making a foray into the Vietnam market for the first time as a duty-free retailer as it seeks to diversify its revenue sources after local outlets were hard-hit by thinning Chinese visitors, according to Pulse by Maeil Business News Korea, South Korea’s leading daily business newspaper, and the Yonhap News Agency.
— Vietnam EconomicTimes

Vietnam insistent in chasing growth with mining despite concerns
The trade ministry plans to increase oil and gas revenues by 8-10 percent this year.
— VnExpress

Banks remain backers of property market
The real estate market is recovering strongly and attracting huge sums of money from banks, foreign investors and overseas Vietnamese.
— Viet Nam News Bizhub

World Bank suggestions to resolve VN’s bad debts
Experts from the World Bank have made four key recommendations to resolve Việt Nam’s problem of non-performing loans (NPLs).
— Viet Nam News

Forum discusses auto industry cooperation with Indonesia
The Embassy of Indonesia in Vietnam held a forum on promoting Vietnam – Indonesia partnership in the auto industry in Hanoi on June 2, bringing together businesses from both nations.
— VietnamPlus

Organic product demands keeps rising
Demand for organic farm and other products has increased significantly both in Việt Nam and globally, and this is good news for businesses investing in the field, according to the Ministry of Agriculture and Rural Development.
— Viet Nam News

ICT workshop to be held to support SMEs
The Vietnam Internet Association (VIA) will organise a workshop entitled “ICT Comm Vietnam 2017” to promote the development of internet and information technology in Vietnam.
— VietnamPlus

Government to fully own 34 less SOEs by year 2020
The Government aims to reduce the number of fully State-owned enterprises (SOEs) from 137 to 103 by the end of 2020, according to a plan approved by the Prime Minister.
— Viet Nam News

Regional cooperation ‘key’ to Mekong projects
As nations in the Greater Mekong Subregion suffer a rise in water shortages and salinity intrusion, governments need to cooperate in order to safeguard the livelihood of residents in the river basin and their diverse cultures, speakers at an international workshop in Vietnam’s Mekong Delta said last week.
— The Nation / Myanmar Eleven

Interest rates remain stable: survey
Interest rates for deposits and loans and bond yields have remained relatively steady since the end of January, as inflation is under control and foreign exchange rate is stable.
— Viet Nam News

BSR valued at $3.2bn ahead of IPO
Binh Son Refinery (BSR), the operator of Vietnam’s only oil refinery, Dung Quat, was valued at VND72.88 trillion ($3.2 billion) at the end of 2015, with the State holding a 60 per cent stake, according to the Ministry of Industry and Trade.
— Vietnam EconomicTimes

Social insurance required for foreign workers from 2018
AUTHORITIES in Vietnam are developing a compulsory social-insurance scheme for foreign workers, citing the need to follow international practices as the country deepens integration.
— The Nation

Khánh Hòa: Investors interested in solar power projects
Investors have shown interest in the solar energy sector in the central coastal province of Khánh Hòa, with some 10 solar projects applying for investment licences in the province.
— Viet Nam News

Cashew production forecast to drop nearly 20 per cent in 2017
Việt Nam is expected to yield only 0.87 tonnes of cashew nuts per ha in 2017, 0.21 tonnes or nearly 20 per cent less than 2016’s output per ha, heard a conference in HCM City on Thursday.
— Viet Nam News

New decree elaborates mineral mining rules
Mineral exploration and mining activities are guided and governed by Government Decree No 158/2016/ND-CP (November 29, 2016), which elaborates on a number of provisions of the Law on Minerals.
— Viet Nam News Bizhub

Việt Nam software lacking at home
As information technology plays an ever more decisive role in the development of a country’s economy, Việt Nam’s software sector has made significant advances in the global outsourcing market, but has not yet managed to cement a “Made in Việt Nam” trademark.
— Viet Nam News

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