Vietnam Morning News For July 11

Vietnam electronic retailer asked to pay $6.7 million in back taxes and fines
The HCMC Tax Department wants the Nguyen Kim Company to pay VND147 billion ($6.7 million) in back taxes and fines for tax evasion.
— VnExpress

Vietnam telecom revenue exceeds US$7.8 billion in 6 months
As of July, there were some 124 million phone subscribers in Vietnam, informed the Ministry of Information and Communications (MIC).
— The Hanoi Times

Vietnam arrests former chairman of Mobifone and ministry official
Police in Vietnam on Tuesday arrested a former chairman of one of the country’s largest mobile carriers and a senior official of the Ministry of Information and Communications on allegations of economic mismanagement, as the communist-led government widens a crackdown on corruption.
— Channel NewsAsia

North Korea would find Vietnam’s road to modernisation hard going
Most of the debate around the thawing of relations between the US and North Korea has focused on denuclearisation. But the longer-term, more challenging issue is how best to “normalise” Pyongyang’s economy.
— Financial Times

Pepper prices will struggle to recover this year: MARD
The Department of Farm Produce Processing and Market Development (DFPPM), under the Ministry of Agriculture and Rural Development (MARD) has forecast that pepper prices will struggle to recover in July and the rest of the year.
— Viet Nam News

Vietnam agri firms seek opportunities for cooperation with Swiss
A trade and investment promotion forum on agriculture in Zurich helped businesses of both Vietnam and Switzerland find agricultural cooperation opportunities.
— Fresh Plaza

Banks told not to raise ATM cash withdrawal fees
The State Bank of Viet Nam (SBV) on Tuesday directed commercial banks not to increase ATM fees after some commercial banks announced plans to hike fees from the middle of this month.
— Bizhub

Vietnam to earn over USD 3 billion from 5G technology
5G has the potential to generate over US$3 billion in Vietnam says president of Ericsson for the region Denis Brunetti.
— Computer World

JA Solar gets loan for Vietnam wafer factory
Chinese solar power products maker JA Solar Holdings Co Ltd (NASDAQ:JASO) has secured a loan to fund the procurement of equipment at its 1.5-GW wafer manufacturing facility in Vietnam.
— Renewables Now

Vietnam to oversee correction of Facebook map error
Vietnam’s PM has asked the information minister to oversee final resolution of the imbroglio over an inaccurate map of Vietnam carried by Facebook.
— VnExpress

US-China trade war to hurt VN economy
The ongoing US-China trade war will greatly impact the structure of the world economy in the future, causing damage but also generating indirect opportunities for countries where the economy relies heavily on agricultural production like Việt Nam.
— Viet Nam News

Vietnam looks for strengthened friendship with international peace organisations
Vice Chairman of the National Assembly and Chairman of the Vietnam Peace Committee (VPC) Uong Chu Luu has stressed the need to enhance friendship and solidarity between the Vietnamese people and peace organisations around the world, especially those in America and Africa.
— Nhan Dan Online

Bamboo Airways gets PM’s approval to take off
The carrier will offer attractive fares that are a little bit more expensive than those of budget carriers, but with “five-star” services, said CEO of Bamboo Airways Dang Tat Thang.
— The Hanoi Times

Star hotel room rate rebounds in Vietnam: survey
The average room rate for five-star hotels in Vietnam in 2017 recovered from a 2.2-percent decline from the previous year, picking up 4.2 percent to 107.6 U.S. dollars, according to a recent survey by U.S.-based audit, tax, and advisory service provider Grant Thornton.
— Xinhua

Overcoming limitations of FDI inflows
Foreign direct investment (FDI) continued to be the highlight of the economy in the first six months of the year, with growth in registered capital and disbursed capital.
— Nhan Dan Online

Việt Nam commits to fight money laundering
The 2015 penal code includes revised articles and supplements to fight money laundering.
— Viet Nam News

TPBank gets US$100-million IFC loans to support MSMEs
The five-year financing package is likely to improve the Vietnamese banking sector`s competitiveness by promoting a cashless economy via innovation and competition, according to IFC.
— The Hanoi Times

Manufacturing, processing drive economic growth in H1
The country’s industrial sector posted high growth of 9.28 per cent in the first half of the year, surpassing the rates of 7.01 per cent and 5.42 per cent reached during the same periods in 2016 and 2017.
— Bizhub

Viet Nam signs up to international fishing legislation
The Government has agreed to accede to the Food and Agriculture Organisation’s Agreement on Port State Measures (PSMA), the first binding international agreement to specifically target illegal, unreported and unregulated (IUU) fishing.
— Bizhub

Vietnam’s automobile sales drop 6 percent in first half
Automobile sales in the two first quarters of 2018 went down 6 percent compared to the same period last year to reach 125,659 units, the Vietnam Automobile Manufacturers’ Association (VAVA) reported on July 10.
— VietnamPlus

Ministry aims to mobilise resources for transport infrastructure
The Ministry of Transport (MoT) will work on solutions, mechanisms, and policies to push forward the mobilisation of resources for transport infrastructure development in the second half of this year, said chief of the ministry’s office Nguyen Tri Duc.
— VietnamPlus

Vietjet tops list of delayed flights in first half of 2018: reports
Quality assessment reports submitted by airlines to Vietnamese aviation watchdogs have turned the spotlight on the country’s major carriers for dominating the industry’s rankings, shamefully, in terms of flight delay and cancellation.
— Tuoi Tre

Vietnam excavating ancient ship laden with Chinese porcelain
Twelve Vietnamese professional divers are excavating a sunken ancient ship laden with porcelain products made in China’s Ming dynasty in the 16th century in central Quang Ngai province, according to the National Museum of Vietnamese History on Tuesday.
— Xinhua

Vietnam’s Hanoi Selected To Host SEA Games 31
The Vietnamese government has approved the Ministry of Culture, Sports, and Tourism’s proposal to hold the 31st Southeast Asian Games (SEA Games 31) and the 11th ASEAN Para Games (Para Games 11) in Vietnam in 2021, reported Vietnam News, a daily English language newspaper.
— Malaysian Digest

65 cyclists line up in Vietnam for national tournament
A dozen teams from Vietnam, Thailand and Kazakhstan will compete at the Vietnam Open national women’s cycling tournament on July 13-18, organizers announced on Tuesday.
— Xinhua

Feature photo Justin Jensen

Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

Vietnam morning news by AEC News Today is your one stop source for Vietnam news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies, not politics.