Vietnam Morning News For January 17

Mining sector gains record VND2.5 trillion profit in 2017
Vietnam National Coal and Mineral Industries Group (Vinacomin) earned a record profit of more than VND2.5 trillion (US$110 million) in 2017, an increase of approximately VND1.5 trillion compared to 2016.
— Nhan Dan Online

Foreign-invested convenience stores seek to find firm niche in Vietnam
With huge investment, commodities suiting all tastes, ages and income levels, and round-the-clock services, convenience stores could make a splash in the Vietnamese food and beverage market.
— VietnamPlus

Hanoi will now start using QR codes to trace fruit
According to a plan issued by the Hanoi People’s Committee, starting this year the city of Hanoi plans a pilot programme on using technology to trace the origins of agricultural products.
— Fresh Plaza

Beer consumption still rising rapidly
Beer consumption in Vietnam topped 4 billion liters last year, representing a year-on-year increase of 6 per cent.
— Vietnam Economic Times

MoF wants hike in tax on capital/securities trade income
The Ministry of Finance has proposed the Government raise the individual income tax imposed on capital/securities transfer to 2 percent for trades not registered to the Vietnam Securities Depository (VSD) and not made on the securities market.
— VietnamPlus

JD.com invests in Tiki, Vietnam’s leading B2C E-commerce platform
JD.com, China’s largest retailer, has gained another foothold in Southeast Asia with its strategic investment in Tiki, Vietnam’s leading B2C e-commerce platform.
— Fresh Plaza

HCM City industry shows stability
HCM City’s industrial production was forecast to maintain steady growth in 2018 with the industrial production index (IIP) to rise about 8- 8.5 per cent against last year, according to HCM City’s Department of Industry and Trade (DoIT).
— Bizhub

Japan bank eyes more Eximbank shares
Sumitomo Mitsui Banking Corporation (SMBC) of Japan is considering hiking its ownership at Vietnam Export Import Bank (Eximbank) if the restructuring of Eximbank is successful, said Yutaka Moriwaki, an Eximbank board member.
— VietnamNet Bridge

Carmakers forced to halt exports to Vietnam on costly, strict tests
Automakers have suspended exports to Vietnam since the beginning of the year following the implementation of a new rule that requires stringent checks on imported vehicles, a move viewed as protectionism by industry officials.
— Nikkei Asian Review

Vinacomin eyes payroll cut, revenue rise in 2018
Deputy Prime Minister Trinh Dinh Dung asked the Viet Nam National Coal and Minerals Group (Vinacomin) to focus on labour and environmental safety as it develops a specialised management model.
— Bizhub

VeriME links with three leading Asian fintech companies
Identity verification and payment authentication solutions provider working with, among others, Vietnam’s Cement Finance Company.
— Vietnam Economic Times

PM urges MPI to turn Viet Nam into ’new tiger’ of Asia
Prime Minister Nguyen Xuan Phuc asked the Ministry of Planning and Investment to offer the Government solutions to boost economic development and turn Viet Nam into a “new tiger” of Asia.
— Bizhub

Vietnam an ideal destination for foreign startups
Vietnam has become an ideal location to start a business, not only for young overseas Vietnamese people but also for expats thanks to the country’s strong economic growth in recent years.
— VietnamNet Bridge

SE Asia Stocks-Philippines, Thailand set fresh records; Vietnam falls
Philippine and Thai shares climbed to all-time highs on Tuesday, while most other Southeast Asian stock markets trod water in line with broader Asia as caution set in after the previous session’s record-setting gains.
— Tuoi Tre

Feature photo ILO/Nguyễn ViệtThanh

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