Vietnam Morning News For January 15

Deputy PM urges PetroVietnam to up efficiency
Deputy Prime Minister Trinh Dinh Dung urged the Viet Nam Oil and Gas Group (PetroVietnam) to focus on restructuring and improving business efficiency in 2018.
— Bizhub

Indonesia to import Vietnamese rice to curb price hikes
Indonesia will import 500,000 tonnes of rice from Vietnam and Thailand to contain rice price hikes and a declining supply in the local market, said Indonesian Minister of Trade Enggartiasto Lukita.
— Nhan Dan Online

South Korea, Vietnam seek redress from U.S. through World Trade Organization
South Korea has asked the World Trade Organization for authorisation to impose annual trade sanctions worth at least $711 million on the United States, a filing published by the World Trade Organization showed on Friday.
— CBC News

Vietcombank aims to reduce bad debt to below 1% in 2018
Vietcombank, a major commercial lender in Vietnam, aims to bring down the ratio of non-performing loans to less than 1% as one of its main targets for 2018.
— Nhan Dan Online

HCM City tops state budget revenue target
Total state budget revenue in HCM City reached VND347.98 trillion (US$15.32 billion) in 2017, slightly more than the year’s target, and up 13.5 per cent compared to 2016, according to the city’s State Treasury.
— Bizhub

Vietnam’s first smart fertilizer plant inaugurated in Tra Vinh province
The Rynan Smart Fertilizers Limited Company held a ceremony on January 13 at Long Duc Industrial Park in the southern province of Tra Vinh to inaugurate a smart fertilizer plant, the first of its kind in Vietnam.
— Nhan Dan Online

Vinasugar II to auction 93% stake next month
Viet Nam Sugarcane and Sugar Corporation II (Vinasugar II) will auction 63.59 million shares to the public on February 13, according to the HCM Stock Exchange (HoSE).
— VietnamNet Bridge

ThaiBev-owned Saigon Beer seeks 50% market share in Vietnam
Vietnam’s largest brewer, Sabeco, will aim to grow its share of the home market from around 40% to 50% on the strength of new owner Thai Beverage’s retail network, executives from the Thai company said Friday.
— Nikkei Asian Review

Vietnam: Mekong-backed restaurants chain Red Wok acquires peer Quan Ut Ut
Mekong Capital-backed Vietnamese restaurants operator Red Wok Cuisine has acquired Quan Ut Ut Co Ltd, the owner of Quan Ut Ut Barbecue and BiaCraft restaurant chains, it announced on Thursday.
— DealStreetAsia

Stumbling blocks facing businesses in FTA implementation
Lack of information, human resources and viable strategies are the three major difficulties facing Vietnamese businesses attempting to carry out the Free Trade Agreements (FTAs), says Nguyen Dinh Cung, Director of the Central Institute for Economic Management (CIEM).
— VietnamNet Bridge

Agriculture makes up exports imprints in 2017
Export achievements in 2017 were encouraging amidst declining minerals and crude oil exports thanks to the strong growth in telephone, electronic components, and especially the agricultural sector, made up for the gap left by the mining industry’s exports.
— Nhan Dan Online

Manulife set to become largest life insurer
Life insurer Manulife Vietnam has said that it has received approval from the Ministry of Finance to increase its chartered capital.
— VietnamPlus

Standard Chartered exits Vietnam’s Asia Commercial Bank
Standard Chartered has sold its entire stake in Vietnam’s Asia Commercial Bank (ACB), bringing a 12-year partnership to an end.
— DealStreetAsia

Top Glove to invest in Vietnam following Aspion acquisition
Top Glove, the world’s largest maker of rubber gloves, plans to expand into Vietnam this year to capitalize on the country’s competitive edge as global demand continues to climb.
— Nikkei Asian Review

First seafood batch of 2018 shipped abroad
The Vietnam Association of Seafood Exporters and Producers (VASEP) on January 14 shipped abroad the first batch of aquatic products in 2018 at Cat Lai port in Ho Chi Minh City.
— VietnamPlus

Feature photo ILO/Nguyễn ViệtThanh

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