Vietnam Morning News For August 14

Vietnam stops bitcoin mining imports
Vietnamese businesses and individuals have stopped importing bitcoin mining equipment to the country since the beginning of July, according to the HCM City Customs Department.
— The Nation

Da Nang plans to become ASEAN logistics centre
The central city plans to build a logistics complex to position Da Nang as an international-standard logistics centre for Việt Nam, ASEAN and the Asia Pacific region by 2030.
— Bizhub

Vietnam’s regional minimum wage poised to increase 5.3% in 2019
The proposed increase in the regional minimum wage will be submitted to the Vietnamese government for approval.
— The Hanoi Times

Foreign investors step up interest in Vietnam’s textile accessories
Vietnam`s export value of textile and garment materials is expected to grow as foreign investors are pouring millions of USD into the industry.
— The Hanoi Times

Vietnam’s shrimp exports face technical barriers in Korea
Vietnamese shrimp exporters need to improve quality of their products, and update procedures and requirements in the Republic of Korea (RoK) to overcome technical barriers that hinder the shipments, experts have said.
— VietnamNet Bridge

Vietnam’s trade ministry to reply to Nghi Son refinery’s fuel export request soon – statement
Vietnam’s Ministry of Industry and Trade will respond to a request from the Nghi Son oil refinery to export fuels such as gasoline and diesel “soon,” it said in a statement on Monday.
— Hellenic Shipping News

Tropical Storm Bebinca to bring flooding rainfall to China, Vietnam this week
A tropical low that has been spinning near the southeast coast of China since last week finally became Tropical Storm Bebinca on Monday and will bring several days of heavy rainfall to parts of China and Vietnam this week.
— AccuWeather

Petrolimex proposes loosening foreign ownership cap to 49% to lure buyers
Petrolimex, Vietnam`s largest petroleum distributor, has suggested postponing the further sale of its shares until the 2019 – 2020 period, citing unfavorable market conditions in 2018 as reason.
— The Hanoi Times

Vietnam is most vulnerable in Southeast Asia to trade war
Vietnam, the Philippines and Indonesia risk incurring serious damage from the spiralling trade war between the United States and China, with Hanoi the most exposed because of its high level of exports, according to analysis by FT Confidential Research.
— Nikkei Asian Review

Japan’s open-door policy for foreign workers – a boon for Việt Nam
With a rapidly aging population and declining fertility, Japan had to adopt a more open-door approach towards foreign workers to staff its labour-strapped industries, with Vietnamese workers among the fastest growing groups.
— Viet Nam News

Vietnam’s insurance industry grows 31% in 7 months
In 2018, Vietnam`s insurance market revenue is set to grow 22.38% year-on-year to reach VND129.2 trillion (US$5.68 billion).
— The Hanoi Times

Vietnam opposes China’s activities in East Sea
Vietnam resolutely objects to China’s recent activities in the Hoang Sa (Paracel) archipelago and reiterated Vietnam’s sovereignty over the islands, according to the Ministry of Foreign Affairs’ spokeswoman Le Thi Thu Hang.
— Inquirer.net

Hanoi to revoke 47 long-delayed projects
Chairman of Hanoi city’s People’s Committee Nguyen Duc Chung said on August 13 that 47 projects in the capital city will have their licences revoked due to delay and violations to the Land Law.
— VietnamPlus

Hung Yen longan becomes dessert on Vietnam Airlines flights
Longan, a speciality from the northern province of Hung Yen, will be served as a dessert on over 70 domestic and international routes of the national flag carrier, Vietnam Airlines.
— Nhan Dan Online

Auto maker Thaco to pump in $1 billion for HAGL firefighting
Truong Hai Motor Company has announced a strategic tie-up with the Central Highlands-based Hoang Anh Gia Lai (HAGL).
— VnExpress

Vietnam vehicle sales rise 4% in July
New vehicle sales in Vietnam rose by 3.6% to 20,044 units in July from already weak year earlier sales of 19,345 units, according to member data released by the Vietnam Automotive Manufacturers Association (VAMA).
— Just-Auto

Foreign investment into Ba Ria-Vung Tau soars 30%
The southern province of Ba Ria – Vung Tau has attracted US$2.15 billion of foreign direct investment (FDI) since the beginning of this year, up 30.6 per cent over the same period last year.
— Bizhub

Macau’s Suncity again defers Hoiana casino-resort stake purchase
Hong Kong’s Suncity Group Holdings has twice delayed a deal in the last two months to acquire 34 percent of a casino-resort in Quang Nam Province.
— VnExpress

Consumer goods, property most attractive sectors for acquisition in Vietnam
The most promising sectors for mergers and acquisitions in Vietnam are consumer goods and real estate, says a global advisory firm.
— VnExpress

Hong Kong calls for investment from Vietnam
Hong Kong is currently an ideal destination for Vietnamese firms to expand operations abroad, heard a round-table seminar in Ho Chi Minh City on August 13.
— VietnamPlus

Local derivatives market busy after only one year of operation
Vietnam’s derivatives market has maintained a monthly growth rate of 35 percent since it was launched one year ago, according to the Hanoi Stock Exchange (HNX).
— VietnamNet Bridge

Overseas remittances to HCMC real estate average US$1 billion annually
Overseas remittances have been an important source of capital for the real estate sector, according to a representative of the State Bank of Vietnam (SBV).
— The Hanoi Times

A New Vietnam-Thailand Navy Pact?
This week, the chief of the Thai navy’s hydrographic department paid a visit to Vietnam in yet another official exchange between the two Southeast Asian states.
— The Diplomat (paywall)

Vietnam Renewables Sector Showing Signs Of Life
Recent project announcements in Vietnam’s renewables sector and a general improvement in the investment environment for renewable energy has led us to upwardly revise our renewables capacity and generation forecasts for the country.
— Fitch Solutions

Enhancing added value for Vietnamese agricultural products
At a national conference to discuss solutions to promote business investment in the agricultural sector, recently held in Da Lat city, in the Central Highlands province of Lam Dong, Prime Minister Nguyen Xuan Phuc ordered the agricultural sector to reach the top 15 most developed countries in the world in the next 10 years, with its agricultural product processing ranked in the top 10.
— Nhan Dan Online

30th Diplomatic Conference opens in Hà Nội
Deputy Prime Minister cum Minister of Foreign Affairs Phạm Bình Minh confirmed that the diplomatic sector had completed the major tasks set by the 12th National Party Congress at the 30th Diplomatic Conference which opened in Hà Nội yesterday.
— Viet Nam News

Feature photo Travis Hawk

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