Vietnam Morning News For September 8

Corporate tax law changes worry businesses
Following the supposed changes to value-added consumption tax, the MoF tackled national CIT with a tendentious change to the current level of debt over equity ratio, which is commonly considered a financial leverage for firms to shield themselves against unfavourable income taxes.
— VietnamNet Bridge

Vietnam slow to sell off state-owned companies
The Vietnamese government’s plans to fully divest itself of 12 state-owned enterprises have progressed at a snail’s pace since being announced last September, raising speculation that in reality Hanoi wants to keep its ownership level high enough to still wield veto power.
— Nikkei Asian Review

Ministry moots ethanol import tax cut
The Ministry of Finance has proposed to lower import tax on bio-fuel ethanol from 20 to 17 per cent so as to make E5 petrol cheaper.
— Viet Nam News

Vietnam economy in H2 relies on three major sectors
NCIF (National center for Socio-economic information and forecast), in its report released in August, predicted that Vietnam would obtain GDP growth rate of 6.5 percent this year, while the inflation rate would be 4 percent.
— VietnamNet Bridge

Vietnam to resume importing dried distillers grains from US
U.S. Sen. John Hoeven say Vietnam is resuming imports of dried distillers grains produced in the U.S., creating another market for North Dakota producers.
— News & Observer

Import taxes on auto parts may be cut
Vietnam’s WTO commitments require it maintain a tax level on imported auto components of between zero and 30 per cent. Officials say the changes will also serve domestic interests.
— VietnamNet Bridge

Vingroup, Siemens boost technological co-operation
Vingroup will co-operate with Siemens in applying innovative technologies and solutions for projects in three fields – automobile manufacturing, building and residential development, and hospitals.
— Viet Nam News

Three VN contractors blacklisted by World Bank for fraud
Mekong Delta Transport Infrastructure Development Project-MDTIDP (Project WB5) was executed with a total investment of $312.02 million.
— VietnamNet Bridge

Vietnam seeks ways to engage more deeply in global value chains
Vietnam has successfully integrated in several global value chains and can increase its added value by policy reforms and initiatives in the fields of transport, services, border procedures and regional integration, said Ousmane Dione, World Bank (WB) Country Director for Vietnam.
— VietnamPlus

Special evaluation council for Long Thanh airport component project
Previously, the National Assembly (NA) approved Resolution No.38/2017/QH14 on separating the land revocation, compensation, and support for resettlement into a separate component project in which the government asked Dong Nai and relevant ministries to do a feasibility study and submit it to the National Assembly for approval in October 2017.
— VietnamNet Bridge

6,000 workers go on strike at garment factory in northern Vietnam
The workers protested against unreasonable rules, including a required three-day notice to take leave for a death in the family.
— VnExpress

Overseas remittances to Ho Chi Minh City reach 3 billion USD
Overseas remittances to Ho Chi Minh City through official channels in the first eight months of 2017 were estimated at 3 billion USD, a year-on-year increase of 5 percent, sourced mostly from the US and Europe.
— VietnamPlus

Japan’s Lion leaps into Vietnam’s fast-growing eye drop market
Japanese consumer goods group Lion makes its first foray into Southeast Asia’s eye care market this month in Vietnam and sees room for expansion into Cambodia and other countries as well.
— Nikkei Asian Review

PVtex to be revived with Indian help
Earlier on August 23-24, the plant’s operator PetroVietnam Petrochemical and Textile Fiber JSC (PVTex), PetroVietnam, and the Indian partner held a working session to discuss co-operation plans, reaching a compromise about Reliance’s role in the plant.
— VietnamNet Bridge

Saigon calls for carpooling service ban to be revoked as city grinds to a halt
Carpooling services are convenient because they cost less and reduce congestion, but the transport ministry says they put passengers at risk.
— VnExpress

Wood industry feels the heat from Chinese buyers
Vietnamese wooden furniture manufacturers fear they will not have enough wood to fulfill export contracts as Chinese have been flocking to Vietnam to buy wood.
— Vietnam Times

Lobster farmers march onward despite difficulties
“Lobster debt can only cleared with lobster!,” declared Nguyen Thanh Nhon, the “Lobster King” of Song Cau town in the coastal province of Phu Yen.
— Vietnam Times

Seven-Eleven Japan to school Vietnamese interns in the way of the ‘conbini’
Seven-Eleven Japan will employ Vietnamese university students as interns at convenience stores in Japan starting in mid-2018, the Seven & i Holdings unit announced Thursday.
— Nikkei Asian Review

Leading Vietnamese ocean shipping enterprise flooded by losses
As of the end of 2016, Vosco operated 21 ships with a total capacity of 509,447 DWT. Along with ocean shipping as its key business sector, Vosco also supplies other ocean services, including logistics, training and renting sailors, paint and lubricant sale, and ship repair, among others.
— VietnamNet Bridge

Forum seeks measures to boost Vietnam – Egypt trade cooperation
The Vietnam – Egypt Business Forum, which was held in Hanoi on September 7, offered a good opportunity for Vietnamese and Egyptian enterprises to discuss measures to boost investment and business cooperation.
— Nhan Dan

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