Vietnam Morning News For July 5

Transport and energy infrastructure key growth drivers in Vietnam
Vietnam’s economy grew 7.1 per cent in the first half of 2018, mainly driven by industry, construction and services – particularly wholesale and retail, transport, banking and finance, education and healthcare.
— Business Times

Four foreign investors lose opportunity at strategic stake in PV Oil
The government’s refusal to extend the deadline to look for strategic investors closes the gates for foreign investors looking for a strategic stake in Vietnam Oil Corporation (PV Oil).
— VietnamNet Bridge

Increase of Vietnamese exports to China in first half of 2018
Vietnam made 1.2 billion US dollars in revenue from the export of fruits and vegetables to China in the first half of this year; up 18.1 percent compared to the previous year, as announced by Vietnam’s Ministry of Industry and Commerce on Thursday.
— Fresh Plaza

Investors balk at PPP projects lacking minimum revenue guarantees
Despite keen interest in traffic infrastructure development projects in Vietnam, Japanese investors are unlikely to participate in public-private partnership (PPP) projects without minimum revenue guarantees, said Nagai Katsuro, Deputy Ambassador of Japan to Vietnam.
— VietnamNet Bridge

Smartphones bring vending machine boom to Vietnam
Once a rare sight in Vietnam due to the poor quality of its paper notes, vending machines are now sprouting up in this city thanks to the spread of smartphones that allows for easy digital payments.
— Nikkei Asian Review

Smart Cities Spotlight: Hanoi
Hanoi is a city that’s rich in history and culture. Throughout history, it has been occupied by various forces, from Chinese dynasties in its early history to the French in the 19th century and it even endured a war with the United States.
— The Asean Post

At a glance: Taxes in Vietnam
Vietnam has seen heated debate over taxes recently. With public expenditure rising more quickly than GDP growth, the Ministry of Finance has come under some pressure to raise tax revenues.
— Business Times

Increasing Chinese investment in wood industry concerns Vietnamese businesses
Việt Nam earned US$4.15 billion from exports of wood and wooden products in the first six months of this year, marking an increase of 8.4 per cent compared with the same period last year.
— Viet Nam News

Machine, metalworking expo opens in HCM City
A wide range of intelligent machinery, equipment and solutions for the manufacturing value chain are on display at the International Precision Engineering, Machine Tools and Metalworking Exhibition that opened on July 3 in HCM City.
— Bizhub

Central bank lowers dollar rate to keep exchange rate steady
The State Bank of Viet Nam (SBV) has stepped in to steady the dollar-dong exchange rate by selling the greenback on Tuesday at 1 per cent lower than the previous day’s rate.
— Bizhub

Vietnam wishes to receive continued support from VBF Consortium
Vietnam wants to continue receiving valuable assistance and cooperation from the Vietnam Business Forum (VBF) Consortium, domestic and foreign organisations and businesses, said a senior Vietnamese official.
— Nhan Dan Online

Foreign invested companies dominate Vietnam’s e-commerce market
Vietnam’s e-commerce market has received big attention from foreign investors in recent years with most of big e-commerce firms operating in the country being foreign invested ones.
— The Hanoi Times

Drastic solutions taken to address EC’s warning of IUU fishing
Vietnam’s fishing sector will employ drastic solutions to deal with the European Commission (EC)’s warning of illegal, unreported, and unregulated (IUU) fishing during the second half of this year, said an official of the Ministry of Agriculture and Rural Development (MARD).
— VietnamPlus

No crisis next year: minister
Viet Nam’s economy is not likely to experience an economic crisis next year, according to Minister of Planning and Investment Nguyen Chi Dung, though it has suffered such crises in 1979, 1989, 1999 and 2009, following consistent 10-year cycles.
— Bizhub

Mid-term Vietnam Business Forum opens in Hanoi
The mid-term Vietnam Business Forum (VBF) 2018, themed “Linkage between domestic and FDI businesses – Partnership for mutual benefit”, opened in Hanoi on July 4.
— VietnamPlus

Vietnam, Laos agree to strengthen friendly, cooperative ties
Vietnamese top leaders and Laos party chief on Tuesday reaffirmed and emphasized the strategic importance of the traditional friendship, special solidarity and comprehensive cooperation between Vietnam and Laos.
— Xinhua

Vietnamese firm suggests launching cruise route from Da Nang to Cham Islands
The new route will allow tourists to travel directly from Da Nang to the Cham Islands, instead of going to Hoi An City before boarding speedboats to the islands.
— Tuoi Tre

VN central bank ready to intervene in forex market
The central bank will absolutely intervene in the forex market if problems with demand and supply affect macroeconomic stability, the governor of the central bank, Le Minh Hung, told a meeting on July 2.
— VietnamNet Bridge

Hue aims to become Vietnam’s gastronomy capital
Local authorities in Hue have the ambitious plan of developing the city into the gastronomy capital of Vietnam to boost tourism.
— The Straits Times

Canada can be a strong partner in Vietnam’s economic development
In the fullness of time, the Quebec G7 Summit will likely be seen as the end point for the U.S.-led world order.
— The Globe And Mail

16 things to know before you visit Vietnam for the first time
I couldn’t recommend Vietnam any more as a destination.
— Her

Feature photo Nam-ho Park

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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.