Vietnam Morning News For November 24

Vietnam Morning News For November 24

Vietnam morning newsDue Diligence Vital as Vietnam’s SOE Sale Gathers Pace
After 25 years of rhetoric about state-owned enterprise (SOE) reform in Vietnam it appears that there is finally some real progress.
— AEC News Today

Steel sector grows 22.8 percent in ten months
Domestic steel production exceeded 17 million tonnes in the first ten months of this year, growing 22.8 percent year on year, according to the Vietnam Steel Association (VSA).
— VietnamPlus

Bank loans for securities sector falls to $444.4m
Total lending of the banking sector for securities trading has reached VNĐ10 trillion (US$444.4 million), according to State Bank of Việt Nam (SBV) governor Lê Minh Hưng.
— The Nation

Vietnam consumes 4.9 billion instant noodle packets a year
WINA attributed the recovery to the wider range of products available for customers to choose from.
— VietnamNet Bridge

Vietnam wants better fruit processing technologies to increase export
Though Vietnam’s fruit and vegetable industry is growing, its exports still account for less than 1 per cent of the global market, indicating the need for the processing industry to upgrade its facilities and practices, experts said at a seminar on Tuesday in Hà Nội.
— Fresh Plaza

The market kicks in as the driving force in Vietnam’s economy
Next year is expected to bring a flurry of stock listings by Vietnam’s state-owned enterprises — a development executives say symbolizes the country’s shift from a government-led economy to one powered by market principles.
— Nikkei Asian Review

Vietnam’s GDP growth cannot keep pace with an increase in public debt
The report on public debt implemented by the government of Vietnam in cooperation with WB showed that the ratio of public debt on GDP is rising, and that Vietnam is one of the countries with the fastest growing ratio, which has increased by 10 percent in the last five years.
— VietnamNet Bridge

Convenience store market in Ho Chi Minh City
The booming activity of Vietnam creates new opportunities in several economic sectors, including retail. Like other big cities of Vietnam, Ho Chi Minh City sees chains of convenience stores rapidly expanding throughout its districts, providing new services for the population to buy products locally.
— AseanUp

HCM City calls for Malaysian investment in Tay Bac urban area
An investment promotion event was held in Kuala Lumpur on November 22 to call for investment in Tay Bac urban area in Ho Chi Minh City.
— VietnamPlus

Deutsche Bank provides 100 mln USD loan for FE Credit
Germany’s Deutsche Bank will provide a guaranteed loan worth 100 million USD for the VPBank Finance Company Ltd (FE Credit) to strengthen its leading position in consumer finance.
— VietnamPlus

Stop alcohol tax hikes, brewers plead
Taxes on alcohol and soft drinks should not be hiked again in the next few years since successive hikes in special consumption tax have had a strong impact on the market, a round table organised by the Vietnam Beer, Alcohol and Beverage Association heard in Ho Chi Minh City on November 22.
— VietnamPlus

Vietnam’s leader urges a US return to the TPP
The remaining members of the Trans-Pacific Partnership free trade agreement should leave the door open for an American return, Vietnamese Prime Minister Nguyen Xuan Phuc told The Nikkei.
— Nikkei Asian Review

Grape and apple craze in Vietnam
Apples have always been a regular produce for countries found outside tropical climates.
— Fresh Plaza

MPOS Vietnam Technology launches QR code mobile payment solution
The MPOS Vietnam Technology JSC has officially launched its QR code mobile payment solution that allows more than 3,000 retailers to integrate QR payments into devices accepting the MPOS technology.
— Vietnam Economic Times

China consumes 70% of Vietnam’s dragon fruit
Despite Vietnam’s great dragon fruit production, which can reach up to 20,000 tonnes per month, China absorbs the vast majority of this volume, about 70%.
— Fresh Plaza

Urbanisation jumps 10 per cent
The urbanisation rate in Viet Nam has grown from 30 per cent in 2007 to 40 per cent in 2017, according to Singapore-based United Morning Post.
— Bizhub

Textile, garment & apparel expos underway
The 17th holding of the Vietnam International Textile & Garment Industry Exhibition and the Vietnam International Textile & Apparel Accessories Exhibition, collectively known as VTG 2017, are being jointly held at the Saigon Exhibition & Convention Center (SECC) in Ho Chi Minh City’s District 7 between November 22 and 25.
— Vietnam Economic Times

Two real estate frauds exposed
The HCM City Department of Natural Resources and Environment on Monday issued a warning to customers and secondary real estate investors about illegal activity of Alibaba Real Estate Joint-Stock Company and Alibaba Tay Bac HCM City Joint-Stock Company.
— Bizhub

Vietnam: HDBank to sell 20% stake in December IPO at $1.5b valuation
Ho Chi Minh City Development Bank, the financial arm of Vietnam’s first female billionaire Nguyen Thi Phuong Thao commonly known as HDBank, is planning a $300-million IPO this year with a target to list in the first quarter of 2018.
— DealStreetAsia

PM expects Japanese, Korean business expansion in Vietnam
Vietnam wants Japanese and Osaka firms to expand their operations in the country, especially in farm produce processing and consumption, the support industry, health care and technological transfer, said Prime Minister Nguyen Xuan Phuc.
— Nhan Dan Online

Phu Quoc billed as next Phuket
Vietnam is looking to replicate Phuket in putting its largest island in the Gulf of Thailand on the global tourist map.
— Bangkok Post


Feature photo ILO in Asia and the Pacific
Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

Vietnam morning news by AEC News Today is your one stop source for Vietnam news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies, not politics.


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Sreypov Men recently completed a course of study in International Relations at the Institute of Foreign Languages.

She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018

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