Vietnam Morning News For September 21

PM urges US financial investment in Vietnam
Vietnam wants to attract more investment from the US, especially in finance, Prime Minister Nguyen Xuan Phuc told former US Secretary of the Treasury Tymothy Geithner, who is President of Warburg Pincus during a reception in Hanoi on September 20.
— VietnamPlus

Foreign employees to get work permits online from October 2017
Foreign nationals who want to work in Vietnam will be able to acquire employment permits online, via the web portal http://dvc.vieclamvietnam.gov.vn, starting from October 2, 2017.
— Vietnam Times

Chinese, Vietnamese Communist parties have ‘shared destiny’, says Beijing
China and Vietnam’s Communist parties have a “shared destiny” and there is great potential for economic cooperation, a senior Beijing official said on Tuesday on a visit to Vietnam, which has clashed with China over the South China Sea.
— South China Morning news

Vietnam: Transition from Paper Invoices to E-invoices
Vietnam’s Ministry of Finance (MoF) has introduced a draft circular to replace paper bills with electronic invoices from the start of 2018.
— Vietnam Briefing

BIDV, Lao foreign trade bank beef up cooperation
The Bank for Investment and Development of Vietnam (BIDV) and the Banque Pour Le Commerce Exterieur Lao Public (BCEL) will continue to promote their comprehensive cooperation during 2017-2020 as stipulated in an agreement inked between the two banks in Hanoi on September 20.
— VietnamPlus

Investment promotion forum held in Brussels
A forum was held in Brussels, Belgium, on Monday to promote economic ties between Việt Nam and Belgium and other European nations, with over 100 business representatives in attendance.
— Viet Nam News

Honouring innovative climate ideas of Vietnamese start-ups
The Vietnam Climate Innovation Centre (VCIC) honoured the leading Vietnamese start-up businesses on September 20 for employing innovative approaches to addressing climate-related challenges in local communities.
— Nhan Dan Online

Vietnam’s banana industry held back from its true potential
Banana prices have seen sharp increases in the last 30 years, with an estimated market value of $15 billion per year.
— Fresh Plaza

Ensuring monetary security
The State Bank of Vietnam (SBV)’s draft circular on ranking credit institutions and branches of foreign banks has recently attracted a lot of attention from the public.
— Nhan Dan Online

State capital at credit institutions to be assessed
Credit institutions in which the State controls over 50 percent of charter capital will now be subject to assessment, according to a circular drafted by the Ministry of Finance.
— Viet Nam News

Vietnam among countries with high number of FTAs: expert
Vietnam is also now conducting negotiations for a series of FTAs, including one with the European Free Trade Association (EFTA) which comprises Switzerland, Norway, Iceland and Liechtenstein, and the ASEAN+6 FTA (ASEAN plus China, Japan, South Korea, India, Australia and New Zealand).
— VietnamNet Bridge

Vietnamese firms spend less on R&D
Innovation was critical for the growth of factory productivity, but Vietnamese firms spent less on research and development (R&D) than in most other Southeast Asian countries.
— VietnamPlus

Ministry draft proposes maximum incentives in three special EZs
The Ministry of Planning and Investment’s (MPI) draft law on developing special economic zones (EZs) will provide EZ investors with major incentives, and in particular, investors of innovative startup projects will receive the most benefits.
— VietnamNet Bridge

MTA HANOI 2017 features many international pavilions
The 5th International Precision Engineering, Machine Tools and Metalworking Exhibition & Conference featuring the latest technologies and equipment will be organised in Hà Noi on October 11-13.
— Viet Nam News

Vietnamese people consume nearly 73 tons of ice cream per day
Ice cream industry in Vietnam this year witnesses the sales of 26,000 tons, bringing about USD 1,3 billion revenue for ice cream suppliers.
— Vietnam Times

Viet Nam’s import of machines up 33%
Viet Nam spent US$24.12 billion importing machines, equipment, tools and spare parts in the first eight months of this year, marking a year-on-year increase of 33 per cent.
— Bizhub

Mekong countries emphasise infrastructure connectivity
Countries in the Greater Mekong Sub-region (GMS) should enhance their economic and infrastructure connectivity to promote economic development in the sub-region, Deputy Minister of Planning and Investment Dang Huy Dong said at a forum on Tuesday.
— Bizhub

TMV introduces new Corolla Altis 2017
Toyota Motor Vietnam (TMV) has officially introduced the new Corolla Altis 2017 with a development design concept of “Futuristic Prestige”.
— Vietnam Economic Times

Vietnam asks airlines to provide passenger lodging for six-hour delays
The Civil Aviation Authority of Vietnam has issued a new set of requirements for local airlines in the event of flight delays and cancelations, including mandatory compensation for affected passengers.
— Tuoi Tre

Aeon to accelerate project in Hai Phong
Aeon Vietnam’s 180 million USD shopping centre in the northern port city of Hai Phong is expected to begin operation by 2020 and welcome about 13 million customers each year, said General Director of the company Iwamura Yasutsugu.
— VietnamPlus

Hanoi to host International Precision Engineering Exhibition
The International Precision Engineering, Machine Tools and Metalworking Exhibition and Conference (MTA Hanoi 2017) is scheduled to be held at the International Centre for Exhibition in Hanoi, from October 11-13.
— Nhan Dan Online

FPT launches new RD centre in Japan
FPT Okinawa R&D (FORD), the group’s fifth facility in Japan, will operate as a near-shore centre of FPT in the country to improve its accessibility to advanced technology to transform innovative and creative ideas into products and services.
— VietnamNet Bridge

HCM Stock Exchange warns TTF could be delisted
The Ho Chi Minh Stock Exchange has warned that shares of Truong Thanh Furniture Corporation (HOSE: TTF) could be delisted as its accumulated losses might have exceeded the company’s charter capital.
— VietnamPlus

PE’s industrial moment may be here
In the last 15 years, foreign direct investment (FDI) in Vietnam has grown at 15 per cent every year, as multinational firms relocated their manufacturing bases to Vietnam to take advantage of low-cost labour and government incentives.
— VietnamNet Bridge

Feature photo ILO/Nguyen Viet Thanh
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