Vietnam Morning News For August 7

Vietnam a top spot for foreign garment-textile firms
Free trade agreements (FTAs) are the driving force to help Vietnam emerge as one of the top spots in the world for investors in the garment and textile industry.
— The Hanoi Times

Fleet registered Vietnamese nationality consists of 174 airplanes
The number of aircraft registered Vietnamese nationality reached 174 as of the end of July 2018, up 14 ones compared with the figure of the same period last year, according to the Civil Aviation Administration of Vietnam (CAAV).
— Nhan Dan Online

Vietnam’s banking sector goes digital
Digital banking will be the future of the Vietnamese banking system, especially amid the development of the fourth industrial revolution, according to experts.
— VietnamNet Bridge

Vietnam court jails 46 bankers, execs for loan scheme
A court in Vietnam convicted 46 former bankers and businessmen of corruption on Monday over a multi-million-dollar lending scam spearheaded by the once-powerful chairman of Vietnam’s Construction Bank.
— The Star Online

List of websites violating e-commerce rules to be published
The Ministry of Industry and Trade (MoIT) plans to publish a list of e-commerce websites and mobile applications that violate laws and regulations on online trading.
— VietnamPlus

SCG inks loans worth $3.2 billion, ready to start construction of Vietnam petrochemicals complex
SCG has pushed forward Vietnam’s first fully integrated petrochemical-complex project, Long Son Petrochemicals (LSP), by recently signing loan agreements worth over US$3.2 billion (Bt106 billion) with six leading financial institutions.
— The Nation

Rubber farmers’ challenges as prices bounce
The southeastern region of Viet Nam offers favourable conditions for the cultivation of major industrial crops such as rubber, coconut trees and pepper vines, all of which earn high profits, but challenges remain as yields have decreased for various reasons, including oversupply and unplanned expansion.
— Bizhub

Vietnam coffee growers expecting record crop next season
Coffee farmers in Vietnam, the largest producer of robusta beans, are tipped to have a record crop next season after good weather favored plant development and replanting boosted yields. Local prices remain low.
— Business Time

Vietnam’s Nghi Son refinery seeks approval for oil product exports – sources
Vietnam’s Nghi Son oil refinery is seeking approval to export oil products as high inventories and pre-existing import contracts have limited domestic fuel demand, said three industry sources on Monday.
— Hellenic Shipping News

Vietnam seafood trade continue to rise in 2018
Vietnam’s seafood exports in the first seven months of 2018 rose 6.3% year-on-year in value to $4.63 billion, according to the country’s ministry of agriculture and rural development (MARD), Vietnam Plus reported.
— Undercurrent News

Smooth waters for seaside porperty market
Viet Nam’s seaside real estate market holds great potential for strong growth thanks to its development of tourism industry, impressive economic growth, and the efforts of Viet Nam in improving infrastructures.
— Bizhub

Vietnam’s wood, woodwork export up 13.4 pct in January-July
Vietnam gained over 4.8 billion U.S. dollars from exporting wood and wood-based products in the first seven months of this year, up 13.4 percent year-on-year, the Wood & Forest Products Association of Vietnam said on Monday.
— Xinhua

Vietnam committed to building strong ASEAN Community
Vietnam is committed to closely coordinating with the ASEAN Secretariat and other member states in building a strong ASEAN Community, said Vietnam’s new Permanent Representative to ASEAN Tran Duc Binh on August 6.
— Nhan Dan Online

UOB celebrates opening of fully-owned subsidiary in Vietnam
UNITED Overseas Bank (UOB) has incorporated its fully-owned subsidiary in Vietnam, making it the first Singapore bank to open a foreign-owned subsidiary bank in the country.
— The Business Times

Bright prospects for Vietnam’s economic growth in second half
Financial institutions and research organisations at home and abroad have shown their optimism about Vietnam’s economic growth in the second half of 2018 and the whole year.
— VietnamNet Bridge

Complete infrastructure system crucial for e-commerce growth: experts
E-commerce and online shopping are forecast to become a key trend in the world, accounting for 25 percent of the global retail revenue, experts said, suggesting Vietnam promptly complete infrastructure system to boost the growth of trade.
— VietnamPlus

HCM City port overloaded, authorities seek to popularise others
The Ministry of Transport has announced plans to limit the cargo handled at HCM City’s Cat Lai Port since volumes are exceeding its handling capacity, exerting pressure on the city’s transport infrastructure.
— Bizhub

MALAYSIA AND VIETNAM FOLLOW CHINA’S LEAD WITH WASTE IMPORT RESTRICTIONS
Both Vietnam and Malaysia have introduced import restrictions in response to the increased volumes of waste entering the countries in the months since China’s ban on 24 grades of solid waste – casting further doubt on the ability of other South-East Asian economies to absorb China’s lost capacity.
— Resource

Power group EVN to withdraw capital from five companies
The country’s largest power group Viet Nam Electricity (EVN) has announced it will divest from five companies in August.
— Bizhub

Vinalines changes IPO plan after failing to find strategic investors
The initial public offering (IPO) is expected to take place at the Hanoi Stock Exchange on September 5, a representative informed.
— The Hanoi Times

Why Navy SEALs wore blue jeans in Vietnam
Nothing screams Americana more than rock and roll, blue jeans, and the toughness of our fighting men and women. If you mix them all together, you get the Navy SEALs who fought in the jungles of Vietnam. They were unquestionably rugged, they were probably rocking out to some CCR, and they wore blue jeans throughout.
— We Are The Mighty

Vietnam arrests 2 Lao drug traffickers
Border forces of Vietnams central Ha Tinh province have detained two Lao men for smuggling 52 cakes of heroin and 25 kg of crystal methamphetamine into Vietnam, local media reported on Monday.
— Xinhua

VR launches recall campaign for Mercedes GLC
More than 760 luxury Mercedes GLC vehicles are being recalled in Việt Nam over faulty airbags after reports that they may be prematurely deploying in several certain conditions.
— Viet Nam News

Feature photo Travis Hawk

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