Vietnam Morning News For August 1

Construction Ministry cuts 85 pct of business, investment conditions
The Ministry of Construction has cut or simplified 85 per cent out of the 215 business and investment conditions, and eliminated five among the 17 conditional business lines.
— Bizhub

Vietnam sees 11,262 new enterprises established in July
The rise in the number of business formations demonstrates that investors are likely to have gained more confidence in the domestic business climate.
— The Hanoi Times

New Airline Set to Join Vietnam’s Congested Skies and Airports
With state-owned Vietnam Airlines JSC and budget carrier Vietjet Aviation JSC serving one of the world’s busiest routes, property developer FLC Group JSC wants a piece of the action with a new airline, operating 37 routes in the country after its inaugural flight in October.
— Bloomberg

PetroVietnam becomes Vietnam’s most profitable company in 2017
A high oil price in the world was one of the main reasons behind PVN`s positive business performances, according to the company`s consolidated financial statement.
— The Hanoi Times

Vietnam crackdown claims first military scalp with ‘Little Baldy’
A Vietnamese military court on Tuesday sentenced the first military official to go on trial in the communist-ruled country’s ongoing crackdown against corruption to 12 years in jail.
— Channel NewsAsia

Beijing angry over Taiwanese flag flown by firm in Vietnam
China is pressuring Vietnam to “correct the mistake” of allowing Taiwanese firms to fly the flag of the Republic of China at their factories, in its latest move to curb signs of the self-ruled island’s presence overseas.
— South China Morning Post

Vietnam’s seafood export rises in 7 months
Vietnam reaped 4.7 billion U.S. dollars from exporting seafood in the first seven months of this year, posting a year-on-year increase of 8.1 percent, the Vietnam Association of Seafood Exporters and Producers said on Tuesday.
— Xinhua

CIC accrues credit information on 36.8 million borrowers
Viet Nam’s National Credit Information Centre (CIC) had compiled credit information on more than 36.8 million borrowers by the end of June, rising nearly two million against the end of last year, CIC’s director Do Hoang Phong said.
— Bizhub

Pork industry rallies in Vietnam, aquaculture sector robust
Feed demand in Vietnam is forecast to increase slightly, as the domestic pork industry rebounds and growth continues in the aquaculture sector, says the USDA.
— Feed Navigator

Economic growth reduces dependence on bank loans
Though credit growth has declined recently, Viet Nam’s GDP has continued to rise in the past one and a half years thanks to the improvement of credit quality and the contribution of foreign direct investment (FDI) firms.
— Bizhub

Foreign investors make boom in acquisition of Vietnam’s companies
Foreign investors have been accelerating the share acquisition or capital contribution in Vietnamese firms, helping the country’s M&A heat up and improve the firms’ transparency significantly.
— The Hanoi Times

Energy efficiency and new energy sources key to Vietnam: official
Further stepping up the application of energy efficient technologies while mastering new energy sources, such as wind and solar power, are key solutions to the energy issue in Vietnam, an official has said.
— Nhan Dan Online

SCG Vietnam’s sales revenue jumps by 20% to US$639m in first half of 2018
SCG Vietnam’s sales revenue rose by 20% year-on-year to US$639m in the first half of 2018.
— Global Cement

Hanoi seeks approval for Vingroup’s $300 million IT park
Hanoi has submitted a proposal to the Ministries of Construction and Planning and Investment for building a new IT park possibly in Dong Anh District.
— VnExpress

Foreign visitors to VN up 25.4%
Viet Nam maintained growth in the number of foreign investors to the nation in the first seven months of this year, according to the General Statistics Office.
— Bizhub

Greenback strengthens to record high against dong
The Vietnamese dong continued to weaken against the U.S. dollar with the exchange rate hitting the lowest in years on Tuesday.
— VnExpress

Vietnam, S’pore sign MOU to boost cooperation
Vietnam’s Deputy Prime Minister and Foreign Minister Pham Binh Minh and Singapore Foreign Minister Vivian Balakrishnan yesterday signed an agreement that will enhance bilateral cooperation in human resource development.
— The Straits Times

More substantial changes needed to improve Vietnam business environment: VCCI
Improving the legal framework for business activities is one of the key objective of a facilitating state, according to Vu Tien Loc, chairman of the Vietnam Chamber of Commerce and Industry (VCCI).
— The Hanoi Times

FMCG sales slightly up in urban Vietnam
The national sales of fast-moving consumer goods on traditional and modern trade channels in urban areas reached some $14 billion in Q2, growing 0.7 percent, according to Nielsen Vietnam.
— VnExpress

Boosting linkages between FDI and domestic enterprises
The linkages between domestic and FDI firms being below expectations was among the issues discussed at the midterm Vietnam Business Forum 2018 (VBF) held in Hanoi earlier this month, which also focused on reviewing the three decades of FDI attraction in Vietnam.
— Nhan Dan Online

Foreign investors take M&A route into Vietnam
Mergers and acquisitions are becoming a favorite investment mode for foreign investors as reflected by the surge in transactions this year.
— VnExpress

More investment needed for agriculture sector
Vietnam’s agriculture sector, from production to exports, has developed impressively in recent times, but its progress is still yet to meet its full potential.
— VietnamPlus

Vietnam, Malaysia enjoy thriving relations
The Vietnam-Malaysia relations have been consolidated and developed across the fields of politics-diplomacy, defence-security, economy, and cultural exchange over the past 45 years, according to Vietnamese Ambassador to Malaysia Le Quy Quynh.
— Nhan Dan Online

Vietnamese brands look plain as foreigners wear the beauty industry crown
While the beauty and personal care industry is doing better than expected in Vietnam, foreign brands are the ones sitting pretty.
— VnExpress

Over 400 athletes to attend int’l badminton tournament in Vietnam
Over 400 athletes from 26 countries and regions will compete at an international badminton tournament which will be held on Aug. 7-12 in Vietnam’s Ho Chi Minh City, the municipal Department of Culture and Sports announced Tuesday.
— Xinhua

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