Vietnam Morning News For April 3

Slow Roll-out Planned For Vietnam High-Speed Train
Vietnam is once again talking about a high-speed train linking Hanoi in the north with Ho Chi Min City (HCMC) in the south. However, by the time the North-South express railway is complete very few of today’s lawmakers are likely to be alive to wave off the first train.
— AEC News Today

FDI firms remains concerned about administrative procedures
There has been significant improvement in removing cumbersome procedures in the past year, however, foreign businesses are still concerned about legal provisions regulating operations of investors after having registered and receiving licenses.
— The Hanoi Times

PM approves $921m infrastructure investment for economic, industrial zones
Prime Minister Nguyen Xuan Phuc has given the green light for infrastructure development worth up to VND21 trillion (US$921 million) for economic zones and industrial parks in the 2016-2020 period.
— Bizhub

Vietnam strives for GDP growth rate of 6.7% in 2018
Vietnam set the target for GDP growth rate at the minimum of 6.7% in 2018, requested the Prime Minister Nguyen Xuan Phuc at a regular government meeting on April 2.
— The Hanoi Times

EC investigates steel imports
The European Commission (EC) has decided to initiate a safeguard investigation concerning imports of 26 steel products to its member countries.
— Bizhub

Industry expected to contribute 40 percent to GDP by 2030
Vietnam’s industry is expected to contribute 40 percent to the country’s gross domestic product (GDP) by 2030, according to a newly issued resolution.
— VietnamPlus

Vietwater: Connecting the industry over the last decade
Vietnam’s international water technology, services, supply, sanitation, resources and purification event – Vietwater returns to the Saigon Exhibition and Convention Center, Ho Chi Minh City from 7 to 9 November 2018.
— AEC News Today/ PRNewswire

Car imports rise again as firms adjust to rules
The General Statistics Office of Viet Nam (GSO) estimated that imports of completely built-up cars in April will likely jump in both volume and value compared to the previous month.
— Bizhub

Global trade war risk has limited impact on Vietnam’s securities
Fears of a trade war between the US and China have rocked global stock markets in recent sessions, but experts anticipate limited effects on Viet Nam’s securities market growth as the market is on solid footing and is increasingly reliant on domestic demand.
— VietNamNet Bridge

Funding boost to help SMEs in Trà Vinh Province
The People’s Committee of the southern Province of Trà Vinh has allocated more than VNĐ2.66 trillion (US$117.7 million) to support small and medium sized enterprises (SMEs).
— Viet Nam News

Vietnam has more than 26,700 new firms in first quarter
More than 26,700 enterprises were established in Vietnam in the first three months of the year, with total registered capital of nearly 278.5 trillion VND (12.25 billion USD), according to the Agency of Business Registration under the Ministry of Planning and Investment.
— VietnamPlus

Ben Tre to push Xiem coconut exports
The southern province of Ben Tre plans to develop its renowned Xiem coconut exports by increasing its market value and researching farming technologies and techniques.
— Bizhub

Prime Minister Nguyen Xuan Phuc stresses growth quality
Prime Minister Nguyen Xuan Phuc emphasised the need to ensure the quality of growth and people’s living standards at the same time while addressing the Cabinet’s meeting in Hanoi on April 2.
— VietnamPlus

ThaiBev should wait for Sabeco’s extraordinary meeting, says MoIT
The Ministry of Industry and Trade said that the April 23 annual general meeting (AGM) will have the final say on who can manage Sabeco, in response to ThaiBev’s earlier complaint about not having any control at Vietnam’s top brewery.
— VietnamNet Bridge

Philippines: Metro Pacific acquires 49% stake in Vietnam’s Tuan Loc Water
Philippine-listed infrastructure holding firm Metro Pacific Investments Corp is acquiring 49 per cent stake in Vietnamese water firm Tuan Loc Water Resources (TLW) for P1.988 billion ($38 million).
— DealStreetAsia

Fares hiked by Vietnamese airlines and airports
The cost of traveling with children has jumped in April on national flag carrier Vietnam Airlines.
— VnExpress

Vietnamese VinFast car designs protected in EU
Two models of sedan and SUV developed by Vietnamese automaker, VinFast, will be protected in the 28 member countries of the European Union (EU).
— Nhan Dan Online

Vietnam Ventures pares Khang Dien stake; TPBank to list shares on April 19
Vietnam Ventures Ltd has sold two million shares in real estate firm Khang Dien while TPBank will list 555 million shares on HoSE at price of $1.4 apiece this month.
— DealStreetAsia

Dong Nai lures over 374 million USD in FDI in Q1
The southern province of Dong Nai has licensed 38 foreign direct investment (FDI) projects worth more than 374 million USD in the first three months of 2018.
— VietnamPlus

Itochu positions Vietnam as textile production hub
Itochu has increased its ownership of a Vietnam state-owned textile company with an eye toward turning the country into a textile export hub for Europe amid rising labor costs in China.
— Nikkei Asian Review

Millions of online sellers to compete with Amazon in Vietnam
Amazon will find it not easy to conquer the Vietnamese market as it will have to compete with millions of people selling products via social networks, especially Facebook, analysts say.
— VietNamNet Bridge

Vietnamese stock market breaks 11-year record
Real estate firm Vingroup JSC was the biggest contributor to the main index’s gain.
— VnExpress

Vietnam: Local ride-hailing firms gear up to take on stronger, bigger Grab
The impending exit of Uber from Vietnam has prompted local firms to eye a larger slice of the ride-hailing market.
— DealStreetAsia

Trade Tension With China, U.S. Pushes South Korea Toward Vietnam
Facing persistent trade tensions with China and the U.S., South Korea is deepening ties with Vietnam, which is on course to surpass the U.S. as Korean companies’ second-biggest export market.
— Bloomberg

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