Vietnam Morning News For January 26

Vietnam raises $184 mln by selling 20 pct of PVOIL in IPO
The Vietnamese government raised 4.18 trillion dong ($184 million) through the sale of a 20 percent stake in state-owned Petrovietnam Oil Corp (PVOIL) in an initial public offering (IPO), the company said on Thursday.
— Reuters

Cashew businesses worry about high price trap in 2018
Although global cashew demand is predicted to continue rising, the Vietnam Cashew Association (Vinacas) and cashew processors and exporters are worrying about a high price trap which may affect their activities in 2018.
— VietnamPlus

Footwear sector awaits rebound with US giant
Foreign capital flow in the footwear industry is expected to rebound this year after a slowdown in 2017, with the anticipated arrival of a major US player.
— VietnamNet Bridge

More Vietnamese people to access formal financial services
The State Bank of Viet Nam (SBV) is drafting the National Financial Inclusion Strategies (NFIS) to increase the ratio of people and firms with access to formal financial services.
— Bizhub

Confidence returns, but private businesses proceed cautiously
For the first time in 10 years of the ranking called the VNR500, a list of the 500 largest Vietnamese companies, private businesses have shown stronger growth in comparison with SOEs (state owned enterprises) and FIEs (foreign invested enterprises).
— VietnamNet Bridge

FDI Opportunities in Vietnam in 2018
Fuelled by rapid growth and increased FDI, 2017 emerged as one of the strongest years for Vietnam.
— Vietnam Briefing

Agribank cooperates with RoK in remittances transfer
The Bank for Agriculture and Rural Development of Việt Nam (Agribank) and the Republic of Korea (RoK)’s NongHyup Bank (NHB) on Tuesday officially launched the service of transferring money without using bank account.
— Viet Nam News

Deputy PM vows to facilitate Vietnam-Russia oil-gas cooperation
The Vietnamese Government always encourages and creates favourable conditions for Vietnamese and Russian oil and gas companies to strengthen their cooperation, said Deputy Prime Minister Trinh Dinh Dung.
— VietnamPlus

Vietnam Dealbook: SG fund commits $500k to startups, FE CREDIT gets $50m loan
An undisclosed investment fund from Singapore has committed $500,000 in capital to ten startups of Topica Founder Institute while FE CREDIT, a consumer finance company, has signed a $50-million loan agreement with Lion Asia I (RB) Limited.
— DealStreetAsia

Domestic demand to fuel Viêt Nam economy in 2018
Growth prospects for Viet Nam this year are bolstered by strong domestic demand and prospects of a global economic revival.
— Viet Nam News

Gov’t to consider amended Decree 38 next month
Minister and chairman of the Government Office Mai Tien Dung said that amendments to the Decree No 38 guiding the implementation of the Law on Food Safety will be submitted to the Government early next month.
— Bizhub

Vietnam pays US$28.8 million debt per year for railway project
The Government has to pay debt totaling at least US$28.8 million a year to the Chinese side for the Cat Linh-Ha Dong urban railway in Hanoi City, news website VnEconomy.vn reports.
— VietnamNet Bridge

Law to seek keen green investment
Vietnamese authorities have started developing specific guidelines for selecting investors to develop renewable energy projects under their management, weeding out weak investors and out-of-date technology.
— VietnamNet Bridge

HCMC aims to halve customs clearance time
The HCM City customs department aims to cut the time it takes for clearing goods by half by the end of this year, Dinh Ngoc Thang, its deputy head, told the media on the sidelines of a meeting with American businesses on Wednesday.
— Bizhub

Can Tho seeks industrial park investors
The Mekong Delta City of Can Tho’s Trade and Investment Promotion Centre plans to promote investment in the Viet Nam – Japan Industrial Park this year, according to Nguyen Khanh Tung, director of the Can Tho’s Trade and Investment Promotion Centre.
— Bizhub

Vietnam emerges as attractive destination for foreign luxury cruises
Vietnam has emerged as one of the leading destinations in Asia for international cruise ships after the arrival of more than 400 ships in 2017.
— NNT

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