Vietnam Morning News For January 18

Gov’t moves closer to SOE capital committee
Prime Minister Nguyen Xuan Phuc signed a decision to form a working group to boost the formation of a special committee responsible for managing State capital at enterprises.
— Bizhub

Plastics growth garners strong interest
Vietnam’s plastics and packaging industry is luring in a new wave of foreign investors due to the sector’s strong growth.
— VietnamNet Bridge

Auspicious start to Vietnamese rice export in 2018
Vietnamese rice exports have got off to a positive start right from the outset of the year, with promising signs from traditional rice importers like the Philippines and Indonesia.
— VietnamPlus

Vietnam raises $245m from refinery operator Binh Son’s IPO
The Vietnamese government has raised 5.57 trillion dong ($245 million) by selling a 7.79 percent stake in refinery operator Binh Son Refining and Petrochemical company in an initial public offering, the company said on Wednesday.
— DealStreetAsia

PV Oil is courted by global oil giants
Six overseas investors are vying for majority stakes at state-owned PetroVietnam Oil Corporation, competing against two domestic bidders.
— VietnamNet Bridge

Bright economy dimmed by public debt: report
Viet Nam experienced a relatively stable macroeconomic situation in 2017, in accordance with general global economic trends, but experts warned there will be obstacles to maintaining such momentum in the turbulent environment of 2018, according to a report by the Vietnam Institute for Economic and Policy Research (VEPR).
— Bizhub

Vietnam oil executives apologize to Communist Party in corruption trial
Vietnamese executives on trial for losses at a scandal-hit state oil firm used their final statement in court on Wednesday to apologize to the ruling Communist Party, media said, as Vietnam’s biggest corruption trial for years draws to a close.
— Reuters/Business Insider

Toyota and Honda suspend exports to Vietnam
Toyota Motor and Honda Motor have suspended exports to Vietnam since the beginning of the year following the implementation of a rule that requires stringent checks on imported vehicles, a move viewed as protectionism by industry officials.
— Nikkei Asian Review

OMO rates cut to support growth
The State Bank of Vietnam (SBV) late last week announced its first interest rate cut in the open market operation (OMO) in the past five years.
— VietnamPlus

Experts decry Vietnam’s risky coal compulsions
With Vietnam planning to signigicantly increase its number of coal plants over the next decade, potentially posing great risks to the environment, international experts have advised the country to work on a cleaner path forward.
— VietnamNet Bridge

Supermarkets develop own brands
From the many cooking oils on a shelf at Co.opmart Ðinh Tiên Hoàng supermarket, Nguy?n Thanh Trúc of District 1 has picked a 2l bottle of Co.opmart soya cooking oil.
— Viet Nam News

Investment in startups expanded
More than 300 enterprises have been certified as science-technology firms, along with 43 organisations recognised to operate in high technology area, according to the Ministry of Science and Technology.
— VietnamPlus

All consumer sectors should do well in Vietnam till 2020: Chris Freund, Mekong Capital
Mekong Capital, the first private equity firm in Vietnam founded in 2001, is placing its bets on consumer-focussed sectors among top themes to watch out for in the south-east Asian country up to 2020.
— DealStreetAsia

Risks cloud Vietnam outlook: researcher says
VIETNAM experienced a relatively stable macroeconomic situation in 2017, in accordance with general global economic trends, but experts warned there will be obstacles to maintaining such momentum in the turbulent environment of 2018, according to a report by the Vietnam Institute for Economic and Policy Research (VEPR).
— The Nation

Standard Chartered forecasts 6.8 percent GDP growth for Vietnam
Standard Chartered Vietnam in Ho Chi Minh City on January 17 issued a global economic report, forecasting that Vietnam’s GDP will expand 6.8 percent in 2018.
— VietnamPlus

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