Vietnam Morning News For October 30

Vietnam records US$1.23 billion trade surplus in ten months
Phones and components exports contribute most to total export turnover of the nation in October.
— VietnamNet Bridge

Bitcoin use might face criminal charge in Vietnam
That was quoted from the State Bank of Vietnam (SBV)’s yesterday official announcement about using crypto currencies for means of payment.
— VietnamNet Bridge

Vietnam’s October crude oil output falls 5.1 percent year-on-year to 1.12 million tonnes
Vietnam’s crude oil output in October is estimated at 1.12 million tonnes (265,000 barrels per day), down 5.1 percent from a year ago, the government said on Sunday.
— Tuoi Tre

Japanese investors pour fund in Da Nang projects
Yamato Sewing Machine Manufacturing Company from Japan plans to build a factory in Da Nang Hi-Tech Park providing sewing machines, spare parts and accessories as well as automotive equipment in sewing industry.
— Vietnam Times

Strict supplier sourcing policy for Thai giant
Vietnamese subsidiary of Thailand’s Charoen Pokphand Foods (CPF) has introduced a strict sourcing policy for more than 50 firms from which it buys raw materials, ingredients and packaging.
— GlobalMeat

Viet Nam Rubber Group targets $1.76b revenue
Viet Nam Rubber Group (VRG) has targeted annual sales of VND40 trillion (US$1.76 billion) after equitisation.
— Bizhub

Vietnamese workers could earn $13,000 per year at special economic zones: official
Tax and other incentives in the zones are expected to bring ‘unimaginable’ breakthroughs.
— VnExpress

Vietnamese president chairs rehearsal of APEC summit
Vietnamese President Tran Dai Quang on Sunday chaired a rehearsal of activities of the Asia-Pacific Economic Cooperation (APEC) Leaders’ Week in central Da Nang city.
— Xinhua

MARD must reform procedures: official
Minister, Chairman of the Government Office, Mai Tien Dung, urged the Ministry of Agriculture and Rural Development (MARD) to simplify quality control procedures to facilitate imports and exports.
— Bizhub

VN, Canada discuss boosting trade
Officials from Viet Nam and Canada discussed boosting trade and mutual investment between the two countries at a seminar in Toronto on Thursday.
— Bizhub

GDT ponders delaying e-invoice application
Nguyen Dai Tri, deputy general director of the General Department of Taxation (GDT), said at the press briefing on October 27 that the GDT is considering a delay before submitting an application roadmap to the Ministry of Finance (MoF) before MoF’s proposal to be reported to the government.
— VietnamNet Bridge

Coca-Cola supports local SMEs amid Industry 4.0
Coca-Cola Vietnam has recently announced it will assist local small and medium-sized enterprises (SMEs) through a mentorship program, in line with its sustainability commitment to help improve their capabilities.
— Vietnam Economic Times

Grab, Uber tax inspection results announced
At a press conference on October 27, Dang Duy Khanh, deputy inspector of the General Department of Taxation, said Grab Taxi has earned VND1.7trn (USD74.8m) from 2014 to 2016 and paid VND9.5bn in taxes.
— VietnamNet Bridge

Vietnam, Australia strive to lift bilateral ties to new height
Vietnamese Ambassador to Australia Ngo Huong Nam has paid a courtesy call to Australian Minister of Foreign Affairs Julie Bishop.
— Vietnam Times

Start-up universe forms in south-east, but faces teething troubles
A start-up environment with plenty of support for innovation is taking shape in the south-eastern region but there are many teething troubles, a conference heard in HCM City on Thursday.
— Viet Nam News

Hanoi seeks partnership with Belarus in transportation, health care
Vice Chairman of the Hanoi People’s Committee Nguyen Doan Toan had a meeting on October 27 with Belarus Deputy Minister for Industry Aleksandr Ogorodnhik on cooperation in public transportation and health care in Hanoi.
— VietnamPlus

Firms must adapt to FTA changes
As part of the ASEAN Trade in Goods Agreement (ATIGA), Việt Nam will cut 669 tariff lines to zero per cent starting in January 2018. Among these are automobiles and spare parts, vegetable oil, refrigerators, air conditioners and dairy products.
— VietnamNet Bridge

Vietnam motor show draws big manufacturers in Ho Chi Minh City
The annual Vietnam International Motor Show (VIMS) has opened in Ho Chi Minh City with 13 leading automakers taking part.
— The Nation

Vietnam’s Oct industrial production index rises 17 pct y/y – govt
Vietnam’s index of industrial production in October rose an estimated 17 percent from the same month last year, the General Statistics Office (GSO) said on Sunday.
— Reuters/Times Of India

HCM City eyes large tax on second homes
The People’s Committee said the move was targeting at ensuring equality in owning a home.
— VietnamNet Bridge

Programme fosters sustainable SME growth
The Sustaining Competitive and Responsible Enterprises (SCORE) programme has benefited participating factories by helping cut costs, improve workplace co-operation, increase productivity and reduce employee turnover rate, a forum heard in HCM City on Friday.
— Bizhub

Contemporary traits
Recent fast research by Talentnet revealed new insights held by those occupying managerial level positions and higher in businesses around Vietnam, covering their expectations of an ideal company, new skills required for talent, and an overall portrait of an @ leader.
— Vietnam Economic Times

Khaisilk closes Ho Chi Minh City stores as ‘Made-in-China’ scandal widens
Two Khaisilk outlets in Ho Chi Minh City were shut down on Friday, the latest development in the mislabeling scandal that left the reputation of Vietnam’s popular silk brand in tatters.
— Tuoi Tre

Vietnam’s Jan-Oct coffee exports down, rice up
Vietnam’s coffee exports are expected to have fallen an estimated 22 percent in the first 10 months of this year from a year earlier, while rice shipments are set to have risen 21.6 percent, the General Statistics Office said in a report on Sunday.
— Tuoi Tre

Rapid retail growth leaves employers scrambling to find staff in Vietnam
Low salaries and more attractive opportunities have left the booming retail sector in an employment crisis.
— VnExpress

Feature photo Asian Development Bank
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.