Vietnam Morning News For September 1

Prime Minister calls on Gov’t to cut business fees
“Many enterprises reported that it takes great efforts to manufacture products but procedures to consume and export these products are more complicated. Some say that raising chickens takes only 40 days but it is more complicated and takes longer to consume and export chickens,” Phuc said.
— VietnamNet Bridge

HCM City calls for foreign investments
Ho Chi Minh City authorities, on August 31, held a meeting with foreign consuls general in the city to discuss orientations to develop the southern metropolis and joint works to increase foreign capital.
— VietnamPlus

Bitcoin rush: Miners on the rise with Vietnam set to regulate virtual currencies
The demand for hardware to mine Bitcoins in Vietnam is on the rise following a government decision to develop a legal framework to manage digital currencies.
— VnExpress

Auto imports rise slightly in August
Some 8,000 complete built-up units of cars worth US$180 million were imported to Viet Nam in August, marking a slight increase of 1,000 units in volume and $13 million in value compared with the previous month.
— Bizhub

Thừa Thiên-Huế’s export turnover up 21%
The central province of Thừa Thiên-Huế shipped US$530 million worth of products to foreign countries in the first eight months of 2017, a year-on-year surge of 21.16 per cent.
— Viet Nam News

Macau Junket King Plans Billion-Dollar Moves Into Japan, Vietnam
Macau’s biggest junket operator wants to be more than a middleman lender for Chinese high rollers, so it’s spending billions of dollars to transform itself into an overseas casino operator on par with Las Vegas Sands Corp. and Wynn Resorts Ltd.
— Bloomberg

PV Drilling secures 6 million USD deal with KrisEnergy
The PetroVietnam Drilling & Well Service Corporation (PV Drilling) has signed a contract worth over 6 million USD to offer jack-up drilling services to Singapore-based KrisEnergy.
— VietnamPlus

Growing Commerce With India Gives Vietnam New Defense Against China
A flood of Indian business in fast-growing Vietnam has solidified commercial ties to help Hanoi upgrade an alliance with a powerful Asian neighbor and offset dependence on its historic rival, the more massive China.
— VOA

Ministry proposes scrapping 3,000 business conditions
Nguyen Thi Thanh Hai, representative of VN Gas-Dak Lak Company said they had filed complaints with every state agency and the Vietnam Chamber of Commerce and Industry (VCCI), about the difficulties they had with Resolution 19 issued in 2016 about trading liquefied petroleum.
— VietnamNet Bridge

Startups on the move in Vietnam social media market
VSMC is one of the leaders in the social media segment of Vietnam that has successfully taken on multinational giants such as Google, Facebook, YouTube, Twitter and Microsoft.
— VietnamNet Bridge

Foreign insurers expand distribution network
Along with the strong growth of revenue (81 per cent in the first half of 2017), Generali Vietnam, a member of the Italian Generali Group, is rapidly expanding its distribution network with one headquarter and 45 branches all over Vietnam.
— VietnamNet Bridge

Dutch businessman sues Vietnam gov’t for $1.25 billion in decades-long dispute
The former Vietnamese national claims he was wrongfully convicted of bribery and land management violations.
— VnExpress

Hau Giang seeks capital for key investment projects
The southern province of Hau Giang will organise an investment promotion conference in the middle of September to attract investment capital for its key projects.
— VietnamPlus

Vietnamese auto firm to export bus parts to Kazakhstan
This is the second batch to be exported to Kazakhstan – part of the contract on exporting bus components and parts to Kazakhstan and the Commonwealth of Independent States (CIS). Thaco did not disclose the export value.
— Vietnam Times

State budget collection hits over 623 trillion VND in eight months
The total State budget collection hit upwards 623.2 trillion VND (27 billion USD) in the first eight months this year, meeting 64.4 percent of the yearly estimate and rising by 10.8 percent annually, reported the General Department of Taxation.
— VietnamPlus

Ha Nam exerts efforts to draw more investment
Investment in Ha Nam has significantly increased in recent years thanks to the northern province’s concerted efforts in attracting more projects.
— VietnamPlus

Ministry proposes abolishing nearly 2,000 business conditions
The Ministry of Planning and Investment recently proposed the Prime Minister abolish nearly 2,000 business requirements and conditions, a move to help improve the business climate and the economy’s competitiveness.
— VietnamPlus

Diplomat assures special priorities for Vietnamese investments in Cuba
Talking to Vice Chairman of the Can Tho People’s Committee Truong Quang Hoai Nam, the outgoing diplomat said Cuba’s investment attraction policy prioritises firms from fraternal nations which have mutual trust with Cuba, and Vietnam is one of such countries.
— Vietnam Times

IDICO releases criteria on strategic investor role
The Vietnam Urban and Industrial Zone Development Investment Corporation (IDICO) has released the list of criteria that institutional investors must satisfy to become a strategic partner of the firm.
— Bizhub

Vietnam protests at Chinese military drill in South China Sea
Vietnam on Thursday opposed what it said was a Chinese announcement of military exercises in the disputed South China Sea, amid rising tension between the neighboring countries.
— Reuters

Bao Viet & Munich Re launch storm coverage product
The Bao Viet Insurance Corporation (Bao Viet Insurance) and the Munich Reinsurance Company (Munich Re) officially launched their new “One Storm” insurance product on August 31 in Hanoi, providing protection against losses caused by typhoons.
— Vietnam Economic times

Vietnam’s plans to pump more money into economy risky: economists
Bui Quang Tin, a lecturer at HCM City Banking University, said the increase in money supply will have an impact on GDP, inflation, interest rate and exchange rate.
— VietnamNet Bridge

Dyke degradation worries Huế locals
The degradation of Thảo Long Dyke in central Thừa Thiên- Huế Province has fanned residents’ fears of saline intrusion, an issue which affects their daily water supply and farms.
— Viet Nam News

VietnamWorks & TopITworks release latest salary report
There are pay gaps among application groups, programming languages, and scope of work, according to a report from VietnamWorks and TopITworks on Salary in Information Technology in mid-2017, released on August 29.
— Vietnam Economic Times

Vietnam Customs holds dialogue with European businesses
The General Department of Vietnam Customs held a dialogue with European businesses in HCM City on August 30 to help clear customs issues of their concern, especially customs revaluation.
— Viet Nam News

Feature photo Oxfam in Vietnam
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.