Vietnam Morning News For October 4

Work permit for foreigners granted online
Companies in Việt Nam who wish to employ foreign employees can now apply for work permits online.
— Viet Nam News

Govt seeks investment from Vietnam in auto sector
Government on Tuesday sought investment from Vietnam into the country’s auto sector that offers a number of incentives for new investors.
— The News International

LienVietPostBank denies rumour of merger with Sacombank
Rumours about the merger have been afloat since LienVietPostBank’s former chairman, Duong Cong Minh, became Sacombank’s chairman and Him Lam Co’s divestment from LienVietPostBank.
— VietnamNet Bridge

Vietnam grapples with a wild and wooly web
Where is Vietnamese President Tran Dai Quang? That was the question the country’s social media users were consumed with in recent weeks.
— Asia Times

EVFTA on track to bring new German investors
In the first eight months of 2017, Germany was the EU’s largest foreign investor in Vietnam.
— VietnamNet Bridge

Hanoi revamps financial team to hasten state enterprise privatization
Vietnam’s cash-strapped government has brought in a new team of advisers to assist with a state enterprise divestment envisioned as a model for far broader privatization.
— Nikkei Asian Review

Large cap stocks perform poorly
Shares fell further on the HCM Stock Exchange as large-cap stocks continued performing negatively on poor market sentiment.
— Viet Nam News

Vietnam plays a calculated game of risk with new solar PPA
Vietnam appears to be betting on gung ho enthusiasm to kick start solar power development rather than taking bold steps to deliver a stable backbone to the industry.
— Lexology

FDI into real estate exceeds 51 billion USD
Accumulated foreign direct investment (FDI) in the real estate sector reached 51.1 billion USD as of the end of September, accounting for 16.5 percent of the total FDI in Vietnam, according to the Foreign Investment Agency under the Ministry of Planning and Investment.
— VietnamPlus

Derivatives market vibrant in September
There were always four contract codes traded on the derivatives market, which official ran on August 10, as in line with international practice.
— VietnamNet Bridge

Vietnam seeks to diversify its seafood markets as exports to US decline
The United States remains one of the largest importers of Vietnamese shrimp and catfish but revenues from this market have been falling in recent months, forcing Vietnamese exporters to seek new markets.
— Nhan Dan Online

Vietsovpetro posts gas output of 50 billion cu.m
Vietsovpetro, a giant oil and gas joint venture, posted gas output of 50 billion cu.m after 30 years of operation on Sunday.
— Viet Nam News

WB, Vietnam publish joint Vietnam Public Expenditure Review
The World Bank and the Government of Vietnam on October 3 launched a joint report titled “Vietnam Public Expenditure Review (PER): Fiscal Policies towards Sustainability, Efficiency, and Equity”.
— VietnamPlus (press release)

Priority sectors need preferential credit: PM
Priority sectors like high-tech agriculture, exports, small and medium-sized enterprises (SMEs) and start-ups should receive preferential credit, Prime Minister Nguyễn Xuân Phúc said yesterday.
— Viet Nam News

Feature: Hong Kong-style mooncakes the apple of Vietnamese’s eyes
Queues at makeshift stalls selling mooncakes, a harbinger of the approaching Mid-Autumn Festival, are not as long as in previous years, partly due to the economic slowdown, and partly because more and more Vietnamese are opting for Hong Kong-style bakery products.
— Xinhua

Vietnam: Vegetable & fruit exports set to hit record high
Vegetable and fruit export revenue is hoped to hit a new record of US$3.6 billion in 2017, with bumper crops forecast for the rest of the year.
— Fresh Plaza

Indian Navy chief to visit Vietnam from Wednesday
Navy Chief, Admiral Sunil Lanba will visit Vietnam from October 4 to 7, holding meetings with Prime Minister Nguyen Xuan Phuc and other ministers and officials, it was announced on Tuesday.
— Business Standard

PM calls on Boeing to set up pilot training center
Prime Minister Nguyen Xuan Phuc called upon Boeing to consider setting up a pilot training center in Vietnam and to support the country conducting direct flights to the US, at a meeting with President and CEO of Boeing Commercial Airplanes, Mr. Kevin McAllister, in Hanoi on October 2.
— Vietnam Economic Times

Ride-hailing firm Grab denies allegations of multi-million dollar tax evasion in Vietnam
Rival taxi companies that are losing out to Grab claim it is shifting money into overseas accounts to foil detection.
— VnExpress

Programme launched to help consumers identify Vietnamese goods
The Ministry of Industry and Trade (MoIT) launched a programme in Hanoi on October 3 to raise public awareness, and increase the consumption, of Vietnamese goods.
— Nhan Dan Online

Uber Vietnam CEO leaves post, reasons unknown
The company had to pay nearly $3 million in back-taxes and fines last month, but it is unclear if this had any bearing on the decision.
— VnExpress

Retail and consumer services up 10.5% in first nine months
The value of retail sales and consumer services was estimated at VND2,917 trillion (US$128 billion) in the first nine months of 2017, up 10.5% over the same period last year, according to the General Statistics Office.
— Nhan Dan Online

Vietnamese party chief urges stronger Vietnam-Laos trade, connectivity
General Secretary of the Communist Party of Vietnam Central Committee Nguyen Phu Trong on Tuesday urged the governments of Vietnam and Laos to work out measures to boost two-way trade and connectivity in economy, transport infrastructure and energy.
— Xinhua

Viet Capital blazes a trail
While foreign investment banks await Vietnam’s promotion to full MSCI emerging-market status, local investment bank Viet Capital Securities is wasting no time, setting records in its home market with some of the biggest share sales in years.
— Euromoney

Can Tho affiliates with Japan in developing model farm
Chairman of the People’s Committee of the Mekong Delta city of Can Tho Vo Thanh Thong had a working session on October 3 with Abe Masayuki, Director of the Vietnam Agricultural Information Centre (VAIO) on the development of the ideal model farm project in the locality.
— VietnamPlus (press release)

Film studio privatisation under scrutiny
Deputy Prime Minister Trương Hòa Bình on Monday directed the Government inspectorate to begin a two-month inspection of the privatisation process of State-owned Việt Nam Feature Film (VFS) studio.
— Viet Nam News

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