Vietnam Morning News For August 31

Over 87,000 enterprises established in first eight months
Vietnam saw the establishment of 87,448 new enterprises in the first eight months of 2018, with a total capital of more than VND878 trillion (US$37.8 billion), up 2.4% in the number of enterprises and 6.9% in capital.
— Nhan Dan Online

Vietnam invests in Hue’s airport
Vietnam has announced a major upgrade for Hue Phu Bai airport the nearest to Hue city, home of the World Heritage Imperial Citadel site.
— TTR Weekly

Vietnam’s fruit and vegetable exports up 14.1% in eight months
Vietnam’s fruit and vegetable export revenues were estimated at US$346 million in August 2018, bringing the total value in the first eight months of the year to US$2.7 billion, up 14.1% compared to the same period of 2017.
— Nhan Dan Online

Vietnam arrests exiles group member with weapons: security ministry
Police in Vietnam have arrested a man accused of being a member of a “terrorist” group and planning attacks in the country, the Ministry of Public Security said on Thursday.
— Reuters

Mitsubishi considers plan to produce electric vehicles in Vietnam
Deputy Prime Minister Vuong Dinh Hue stated that Vietnam will provide incentive commensurate with environmentally-friendly products, the government portal reported.
— The Hanoi Times

Thai investors jump into renewable energy sector in Vietnam
In addition to the retail, beer manufacturing, and plastic sector, Thai investors have increased their investment in the renewable energy sector, with the aim to diversify their operations in Vietnam.
— VietnamNet Bridge

Storm Capital Partners plans to construct floating LNG power plant in Vietnam
A floating LNG-fueled power plant is equipped with modern technologies with numerous advantages, for which the city`s leaders expressed supports for the project.
— The Hanoi Times

Uniqlo to enter Vietnam in 2019
Japanese casual clothing retailer Uniqlo on Thursday announced that it would open its first store in Vietnam in fall 2019, in a bid to capitalize on the fastest-growing economy in Southeast Asia.
— Nikkei Asian Review (paywall)

CapitaLand buys prime residential site in Ho Chi Minh City for $81.4 mil
CapitaLand is acquiring a prime site in Ho Chi Minh City for VND1.380 billion (about $81.4 million).
— Edge Prop

Import-export turnover hits over 308 billion USD in eight months
Vietnam’s total import-export value in the first eight months of this year reached more than 308 billion USD, a year-on-year rise of 13 percent, according to the General Department of Vietnam Customs.
— VietnamPlus

Vietnam GDP likely to exceed 6.7% target in 2018: PM
According to Prime Minister Nguyen Xuan Phuc, all 12 economic targets set by the National Assembly for 2018 could be achieved, eight of which may exceed expectations.
— The Hanoi Times

Vietnam’s Agribank plans IPO in 2020: Chairman
By the end of 2018, state-run Vietnam Bank for Agriculture and Rural Development, known as Agribank, will complete the corporate valuation process, said the bank`s chair.
— VietnamNet Bridge

PM requests implementation of drastic solutions in months ahead
Prime Minister Nguyen Xuan Phuc said on August 30 that ministries, sectors and localities must not underestimate their tasks in the four remaining months of 2018 but carry out drastic solutions as many difficulties still arise from the domestic and global situation.
— VietnamPlus

Long An insists on LPG-fired power plants to fight pollution
Authorities of the Mekong Delta province of Long An have just sent a proposal to the Ministry of Industry and Trade seeking approval for developing power plants using liquefied petroleum gas (LPG) instead of coal as suggested by the ministry and the consultant, a local official said.
— VietnamNet Bridge

Boom in FDI benefits Vietnam but risks remain: HSBC
Continued FDI into and expansion of Vietnam`s manufacturing sector are key to reducing poverty and raising productivity, which paves the way for more inclusive growth.
— The Hanoi Times

Vietnamese, Chinese localities enhance border customs cooperation
The customs cooperation between Vietnam’s northern provinces of Lao Cai, Dien Bien, Ha Giang, and Hai Phong city and China’s Kunming has proven successful, reaping many positive outcomes.
— VietnamPlus

Vietnam’s transport projects beckon Japanese investors
Japanese investors are seeking opportunities to join new transport projects in Vietnam as the Vietnamese government considers the investment for infrastructure development among the country’s top priorities.
— VietnamNet Bridge

ACV needs US$2.4 billion to upgrade 15 key airports
Airports Corporation of Vietnam (ACV) has submitted to the Ministry of Transport an investment plan to upgrade airports for the period 2018 – 2021 with the vision to 2025.
— The Hanoi Times

Large firms boost transparency
Some large-cap firms have replaced the board of supervision with independent members in the board of management to improve the quality of corporate governance and reduce expenses.
— Bizhub

U.S. immigration firm LatourLaw opens Vietnam office
Florida-headquartered LatourLaw, which specialises in investment-based immigration, has set foot in Vietnam with the opening of an office in Ho Chi Minh City.
— Legal Business Online

HCMC, Hanoi main locations for hotel acquisitions in Vietnam
HCMC and Hanoi are the main markets in Vietnam for mergers and acquisitions in the hospitality industry.
— VnExpress

Instant noodle business rebounds after a slump
Vietnam’s instant noodle market is once again positioning itself as a fertile ground for both local and foreign producers, as instant noodle sales recovered in 2017 after two consecutive years of decline.
— VietnamNet Bridge

Japan to lift investment in VN IT sector
Japanese information and technology (IT) firms have been expanding their investment into Viet Nam and hiring more Vietnamese workers, according to experts at the Viet Nam-Japan ICT Day held in Ha Noi on Wednesday.
— Bizhub

Hyosung Group gets okay for US$1.2-billion project in Vietnam
South Korea’s leading textile and chemical firm Hyosung Group on August 28 received the investment certificate for the US$1.2-billion polypropylene (PP) manufacturing plant located at Cai Mep Industrial Zone in the southern province of Ba Ria – Vung Tau, local media reported.
— The Hanoi Times

City vows to help real-estate firms
HCM City authorities on August 30 pledged to continue providing assistance and creating favourable conditions for real estate companies at a meeting held in the city.
— Viet Nam News

Growing trade with Mexico, Vietnam
Trade missions are one of the top ways we can grow Nebraska. With 95 percent of the world’s population living beyond our borders, there are billions of potential customers around the world.
— The Independent

Foreign arrivals to Vietnam up 11.3 pct in August
Foreign arrivals to Vietnam surpassed 1.32 million in August, up 11.3 percent month-on-month, reported the General Statistics Office (GSO) on August 29.
— VietnamPlus

Vietnam set to surpass socio-economic targets: PM
Vietnam might exceed several annual socio-economic development targets set by the parliament, PM Nguyen Xuan Phuc said Thursday.
— VnExpress

WEF ASEAN 2018 to present new business opportunities in Vietnam
The World Economic Forum on ASEAN (WEF ASEAN) 2018, which is scheduled to take place in Hanoi from September 11 to 13, will present attendees with new business opportunities in Vietnam.
— Nhan Dan Online

Two Vietnamese among top 30 Southeast Asia tech startup founders
Le Hong Minh and Tran Ngoc Thai Son have made TechInAsia’s top 30 tech startup founders’ list for Southeast Asia.
— VnExpress

Feature photo Travis Hawk

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