Vietnam Morning News For August 10

Vietnam to limit or stop issuing new licenses for foreign banks
Vietnam will limit or possibly stop issuing new licenses for the establishment of wholly-owned foreign banks in the country, Deputy Prime minister Vuong Dinh Hue said on Thursday.
— Reuters

Vietnam could face power shortages during 2020-2030
Vietnam could face the risk of power shortages in the early years of the 2020-2030 period, an industry official warned at the annual Vietnam Energy Forum held on August 9.
— Nhan Dan Online

S.Korea, Japan investors target Vietnam’s logistics, infras and pharmaceuticals
Vietnam is considered favorite destination for investors from Japan and South Korea.
— The Hanoi Times

Viet Nam’s GDP projected to grow 6.83% in 2018
Viet Nam’s gross domestic product (GDP) is expected to grow 6.83 per cent in 2018, almost unchanged from 6.8 per cent over the same period last year.
— Bizhub

Over 90% of Vietnamese lychee exported to China
Vietnam exported over 83,500 tonnes of fresh lychee to China worth more than US$33.9 million in the 2018 lychee season.
— Nhan Dan Online

Central Bank to inspect lending to stock, real estate sector
The central bank has said it will inspect banks with large lending portfolios in real estate and stock markets.
— VnExpress

Localities urged to control pork prices
The Ministry of Agriculture and Rural Development have urged localities to stabilise pork prices which have been on the rise.
— VietnamNet Bridge

Vietnam poised to become top player in ocean aquaculture
Vietnam has set an ambitious goal of becoming a leading country in aquaculture – specifically in the productive development of its coastal marine environment.
— Seafood Source

Vietnam Steel Association hopes to circumvent ban on scrap imports
The Vietnam Steel Association wants the ban on metal scrap waived so that its members can continue importing it as feedstock.
— VnExpress

Vietnam’s F&B market – fertile ground for global franchisors
With rapidly growing consumer demands for food and beverage (F&B) products, Vietnam – a market of more than 95 million people with rising income – is offering ample space for global franchisors to expand in the sector.
— The Hanoi Times

Vietnam: Tackling credit shortage for SMEs
“State authorities, financial institutions and enterprises must sit together to tackle credit shortages for small- and medium-sized enterprises.”
— Fresh Plaza

Vietnam automaker THACO to invest US$1 billion in Hoang Anh Gia Lai
one of the leading car manufacturers in Vietnam is expected to invest nearly US$1 billion in conglomerate Hoang Anh Gia Lai Group (HAGL), announced the latter on its website.
— The Hanoi Times

PetroVietnam surpasses business targets in seven months
The Vietnam Oil and Gas Group (PetroVietnam) reported rosy business operation in the first seven months of the year, exceeding its set plan and on the way to achieve annual target, despite considerable risks involved in the global economy.
— VietnamPlus

WHO recommends Vietnam to tighten alcoholic use
The letter adds a voice in prompting a draft law on alcohol harm reduction in Vietnam, which is scheduled to be on the National Assembly’s table for approval later this year.
— VietnamNet Bridge

Efforts needed to preserve wetlands
Wetlands play a major role in preserving biodiversity and fighting climate change in Việt Nam, but the country is yet to establish firm strategies on how to preserve them.
— Viet Nam News

SCG signs $3.2b loans in Thailand to fund project in Vietnam
SCG has signed loan agreements worth over US$3.2 billion with six banks in its home country, Thailand, to fund construction of Viet Nam’s first fully integrated petrochemical complex, Long Son Petrochemicals Company Limited (LSP).
— The Nation

UOB signs first MOU to encourage FDIs
As part of its long-term commitment to Vietnam, United Overseas Bank (Vietnam) Ltd (UOB Vietnam) has signed a Memorandum of Understanding (MOU) with VSIP JV1 to encourage and to facilitate foreign direct investment (FDI) into Vietnam.
— The Borneo Post

Vietnam Manufacturing Expo 2018 underway in Hanoi
The Vietnam Manufacturing Expo 2018 is taking place in Hanoi from August 8-10, displaying the latest machinery and technologies for manufacturing and associated industries by 200 brands from 20 countries.
— Thai PBS

Vietnam’s tourism tally soars
Vietnam’s tourist arrival totalled 9,080,347 for the first seven months of the year, up 25.4%, according to the latest provisional statistics released by the Vietnam National Administration of Tourism.
— TTR Weekly

Vietnamese Blogger, Rights Activist Detained by Police
A well-known Vietnamese blogger and human rights advocate was taken into custody on Thursday by local police, who later returned to search her home where they confiscated her laptop computer, camera, books, and other personal items, her husband said.
— Radio Free Asia

A tropical metropolis poses a puzzle for Vietnamese planners
Ho Chi Minh City’s Thu Thiem peninsula is the kind of place that makes real estate people spout clichés about the “wow factor” or “location, location, location”.
— Financial Times

SBV to ease regulations on bank establishment
Business conditions related to the establishment and operation of joint stock commercial banks and non-bank credit institutions in Vietnam will be eased under a draft circular from the State Bank of Vietnam (SBV).
— VietnamPlus

E-procurement removes costs, transparency issues
E-Government procurement has proven a good way to improve transparency, publicity, fairness and efficiency in bidding for State-funded projects since it was launched nationwide in 2016 to replace the use of paper documents.
— Bizhub

Southern Vietnam reports one more H1N1 death
A 60-year-old man from Vietnam’s southern Tra Vinh province has died in Ho Chi Minh City after contracting flu virus H1N1, the provincial Department of Health announced Thursday.
— Xinhua

Vietnam to welcome over 800 participants to WEF on ASEAN
Vietnam expects to welcome more than 800 leaders of governments, global leading groups, civil society organisations and media to the World Economic Forum (WEF) on ASEAN slated for this September in Hanoi.
— Nhan Dan Online

MAs in real estate sector show strong development
Viet Nam’s real estate industry continued to attract foreign investment thanks to the development of merger and acquisitions (M&As) in the first half of the year, according to experts.
— Bizhub

VN top solo destination
US News has listed Việt Nam as one of the 30 best solo travel destinations alongside its neighbours Singapore and Thailand.
— Viet Nam News

Feature photo Travis Hawk

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