Vietnam Morning News For November 21

VN mining investors seek long-term returns
Although fluctuations in international demand and pricing have put pressure on returns from Viet Nam’s mining industry, the sector remains a magnet for foreign direct investment (FDI), a sign of confidence in its long-term prospects.
— Bizhub

Vietcombank divests from two firms
The Bank for Foreign Trade of Việt Nam (Vietcombank) on Monday was estimated to receive VNĐ342.6 billion (US$15.2 million) from selling its entire stakes in the Saigon Bank for Industry and Trade (SaigonBank) and Việt Nam Cement Finance Company (CFC).
— Viet Nam News

Are foreign-invested firms enjoying too many incentives in Vietnam?
Preferential treatments including tax and land use incentives are a key factor in the Vietnamese government’s bid to attract foreign investment; however, domestic enterprises are beginning to voice their complaints.
— Tuoi Tre

Rising global coal prices a threat to budget
Vietnam may have to spend an additional $1.27 billion each year on the fuel to 2021, given the global price of coal has doubled since the beginning of 2016, new analysis reveals.
— VietnamNet Bridge

Singapore investor acquires 10% Vinamilk stake
The Singapore-based automotive group, Jardine Cycle and Carriage (JC&C), has made additional purchases of Vinamilk’s shares after its maiden US$616.6 million investment on November 10.
— Bizhub

What does Vietnam expect from the ‘TPP without the US’?
The 11 original TPP (Trans Pacific Partnership Agreement) signatories have come to an agreement, the CPTPP, which is good news for Vietnam, according to analysts.
— VietnamNet Bridge

Foreign brands up the ante in fashion market
They say that the Vietnamese consumer market is growing, and stiff competition could motivate domestic firms to change their production methods and business practices in order to stay in business.
— VietnamNet Bridge

TTCS announces name change
The Thành Thành Công Sugar Joint Stock Company (TTCS), stock code SBT, held its 2016 – 2017 annual shareholders’ meeting on Monday, the first since its merger earlier this month with Biên Hòa Sugar Joint Stock Company (BHS), stock code BHS.
— Viet Nam News

Vietnam’s Key Regions and Economic Zones – New Issue of Vietnam Briefing Magazine
The latest issue of Vietnam Briefing Magazine, titled “Vietnam’s Key Regions and Economic Zones”, is out now and currently available to subscribers as a complimentary download in the Asia Briefing Publication Store.
— Vietnam Briefing

No foundation to prove $3 billion flow from Vietnam to US for house purchase
SBV Governor Le Minh Hung made the remarks at a National Assembly (NA) Q&A session on November 17.
— VietnamNet Bridge

VIC, VRE lift VN-Index over 900 mark
The benchmark VN-Index rose to yet another new 10-year peak on Monday, ending the session at 903.55 points, up 13 points, or 1.44 per cent over Friday’s close.
— Viet Nam News

Petrol prices increase by over 400 VND per litre
The Ministry of Industry and Trade and the Ministry of Finance decided to increase the retail price of RON 92 petrol by 434 VND to a maximum of 18,580 VND (0.82 USD) per litre from 3:00pm on November 20.
— VietnamPlus

Binh Phuoc approves Indian-invested solar power project
The southern province of Binh Phuoc announced on November 17 that it has approved an investment plan for a 54 million USD solar power plant project funded by Indian Tata Power Company.
— VietnamPlus

Nokia outpaces Apple in Q3 smartphone sales
Two Asian brands, Samsung and OPPO, retained their leading positions in Vietnam’s smartphone market in the third quarter of 2017, according to IDC Indochina.
— Vietnam Economic Times

HCM City gears towards smart city
Ho Chi Minh City and military telecom group Viettel signed an agreement on November 17 to develop the southern metropolis into a smart city during 2017-2020.
— VietnamPlus

Vietnamese seedless lime sees great chance to enter Japanese market
Vietnamese seedless lime cultivated in Ben Luc district, the Mekong Delta province of Long An, sees a great opportunity to be exported to Japan, a fastidious market, heard an agricultural promotion conference recently held in Wakayama prefecture, Japan.
— VietnamPlus

US state promotes investment in Vietnam
A high-level trade mission from the US state of Idaho recently visited Ho Chi Minh City to promote trade and investment activities in Vietnam and the southern economic hub in particular.
— VietnamPlus

Why Canada hesitates over Asia-Pacific free trade deal that includes Vietnam
Even without the U.S., the Trans-Pacific Partnership (TPP) accord represented US$356.3 billion in global trade in 2016.
— Tuoi Tre

Vietnam-Tatarstan Business Forum opens in Ho Chi Minh City
The Vietnam – Tatarstan Business Forum took place in Ho Chi Minh City on November 20, attracting nearly 50 business representatives from the two countries.
— VietnamPlus

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