Vietnam Morning News For June 26

Vietnam’s Bamboo Airways commits to 20 Boeing aircraft
Boeing Co (BA.N) said on Monday entered into an agreement to sell 20 of its widebody long-haul aircraft to Vietnamese startup Bamboo Airways in a $5.6 billion deal at current list prices.
— Reuters

Forestry exports reach US$ 4.15 billion
The export of forestry products in the first six months of the year reached US$ 4.15 billion, accounting for 46 percent of the yearly plan and up nearly 8.4 percent annually.
— Nhan Dan Online

Textile, garment export markets grow
Viet Nam witnessed a growth in textile and garment exports to most of the major markets in the first five months of 2018, reported the General Department of Viet Nam Customs.
— Bizhub

Fiscal deficits and public debt under strict control
Vietnam has been doing a highly efficient job in controlling public debt, which has received great applause from the World Bank, one of the country’s largest development partners.
— Nhan Dan Online

Prices of groceries climb in Ho Chi Minh City
Prices of food and many commodities are beginning to rise in Ho Chi Minh City, which can be attributed to a variety of reasons, including a recent hike in gasoline prices.
— Tuoi Tre

Imports driving Vietnam cattle farmers out of business
Dealers are putting pressure on local farmers to sell their cows at a low price because of abundantly available imported beef.
— VnExpress

Japan’s Sojitz buys Vietnam industry leader Saigon Paper
Japanese trading house Sojitz has purchased Vietnam’s Saigon Paper for about 10 billion yen ($91.2 million), inking a deal to tap the fast-growing demand for cardboard and tissue paper in the Southeast Asian country.
— Nikkei Asian Review

Vietnam’s planned special economic zones spark unrest | Video
Vietnam’s government is facing widespread public criticism and unprecedented unrest over its plan to set up three special economic and administrative zones, expected to serve as growth drivers for the country.
— Channel NewsAsia (video)

Vietnam getting thrown on the scrap heap
Thousands of scrap containers are stuck in Vietnam’s major seaports, no easy solution is sight.
— VnExpress

Vietnam exports first batch of fresh pork to foreign market
Mavin Group has become the first business in Vietnam to officially export fresh pork to a foreign market when the first batch was shipped to Myanmar, a success of not only the company but also the country’s animal farming sector.
— VietnamPlus

The Need for High-Tech Farming in Vietnam
The agriculture industry contributes around 20 percent to the GDP while employing 40 percent of the working population in Vietnam.
— Vietnam Briefing

Positive outlook forecast for Vietnam’s economy in 2018
The outlook for Vietnam’s economic growth in 2018 is quite bright thanks to a positive economic performance in the first quarter, said Tran Quoc Phuong, Director of the Ministry of Planning and Investment’s National Economic Issues Department.
— NNT

Hanoi’s largest public lake mulls over visitor fees to solve pollution problems
As environmental problems mount in Vietnam’s largest fresh-water lake, visitor fees are mooted to improve lake management and conservation.
— Mekong Commons

Startup Ecosystem in Vietnam
Vietnam currently has around 3,000 startups involved in sectors such as fintech, food tech, healthcare, and e-commerce.
— Vietnam Briefing

Vietnam, eyeing trade with U.S., pledges major trade barrier reductions
Vietnam is working to reduce its trade barriers by 25 percent in the coming months, Deputy Prime Minister Vuong Dinh Hue said on Monday, adding that he was confident about the overall trajectory of U.S.-Vietnam trade relations.
— Inside Trade

Uber and Saigon tax man still at odds
City says Uber has to pay millions of U.S dollars in back taxes, ride-hailing firm says it is not subject to several tariffs.
— VnExpress

Vietnamese join hands with foreign plastics companies
Many Vietnamese plastics companies have decided to open their doors widely, receiving more foreign shareholders amid increasingly fierce competition in the market.
— VietNamNet Bridge

Viet Nam remaining a frontier market: MSCI
Morgan Stanley Capital International (MSCI) has decided to hold Viet Nam’s status in the equity market in the Frontier Markets Index until 2019.
— Bizhub

Vietnam’s first major car maker is called VinFast, will debut in Paris
VinFast will be the country’s first high-volume producer of cars, and while we have no idea what kind of vehicles the company will be making, apparently we can expect to find out at the Paris Auto Show later this year.
— Cnet

Local business environment lacks robust reforms
The local business environment has not witnessed strong reforms although the Government has made efforts to improve the same over the past years, according to experts.
— Bizhub

Traditional taxis struggle to compete against Grab
Vietnam`s traditional taxi firms are considering merging with each other to compete with Grab.
— The Hanoi Times

Growing Partnership Between Vietnam and Australia
The year 2018 marks the 45th anniversary of the establishment of diplomatic relations between Vietnam and Australia.
— Vietnam Briefing

Vietnam’s ‘vermicelli village’: A delicious Hanoi side trip
Known as mien in Hanoi, vermicelli takes many forms in Vietnam.
— CNN (video)

Vietnam wants to promote social forestry in ASEAN: Official
Vietnam wants to promote social forestry among member countries of the Association of Southeast Asian Nations (ASEAN) to create favourable conditions for the involvement of private and non-governmental organisations, community and people in forestry activities, said a local official.
— Nhan Dan Online

Israel supports development of Vietnamese start-ups: Ambassador
The Israeli Government has devised policies and provided consultancy to support the development of Vietnamese start-ups, said Israeli Ambassador to Vietnam Nadav Eshcar.
— VietnamPlus

Rough sea strands thousands of tourists on Vietnam’s northern island
All ships have been prohibited from traveling to or leaving Co To Island due to strong winds.
— VnExpress

Feature photo Michel Coutty

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