Vietnam Morning News For March 1

Vietnam needs to invest US$7 billion yearly in power for sustainable growth
The power industry will need to rise by 1.2-2 percent per year to help Vietnam’s GDP grow by 1 percent, Minister of Industry and Trade Tran Tuan Anh said.
— The Hanoi Times

Vietnam’s Industrial Zones Focusing on SMEs for Investment
Industrial zones (IZs) and Export processing zones (EPZs) in Vietnam have played an important role in attracting foreign investments and the development of the local economy.
— Vietnam Briefing

Real estate sector expects record FDI in 2018
FDI flows into real estate have been very high so far this year, and a new record is expected to be set this year.
— VietnamNet Bridge

Vietnam set to finalize equitisation of 86 SOEs in 2018
Vietnam considers 2018 a key year in the country’s restructuring plan of State-owned enterprises (SOEs), targeting to equitise at least 86 SOEs in the year with 64 of which being large size.
— The Hanoi Times

VinaCapital fund channels $32.5mn into Vietnam’s largest egg producer
Ba Huan JSC, Vietnam’s leading producer of pasteurized eggs and poultry meat, has received a US$32.5 million investment from a flagship fund managed by private equity and venture capital firm VinaCapital.
— Tuoi Tre

New Regulations for Pharmaceutical Product Labelling in Vietnam
Vietnam’s Ministry of Health (MoH) issued Circular No. 01/2018/TT-BYT (Circular 01) on January 18, 2018, regarding regulations on labeling of pharmaceutical products.
— Vietnam Briefing

8,000 firms owe social insurance fees
More than 8,000 enterprises nationwide currently owe social insurance premiums totalling some VNÐ2 trillion (US$87 million).
— Viet Nam News

Vingroup picks banks for property unit IPO that could raise $1b
Conglomerate Vingroup JSC , Vietnam’s biggestproperty developer, has picked four foreign banks to work on a planned IPO of its residential property unit that could raise about $1 billion, sources familiar with the matter said.
— DealStreetAsia

FDI pledges to Vietnam down 1.8% but disbursement up 9.7% in Jan-Feb
Foreign direct investment (FDI) pledges to Vietnam over the first two months of 2018 dropped by 1.8% year on year to US$3.34 billion but disbursements rose by 9.7% to US$1.7 billion, as per official data as of February 20.
— Nhan Dan Online

VASEP proposes measures to counter IUU yellow card
The Vietnam Association of Seafood Exporters and Producers (VASEP) has proposed urgent measures to tackle the European Commission’s illegal, unreported and unregulated fishing (IUU) yellow card in March as the EU will assess Vietnam’s efforts to fight IUU fishing in April.
— VietnamPlus

Honda, Suzuki recall thousands of vehicles in Vietnam
Automakers Honda and Suzuki have announced a recall of thousands of cars and motorbikes in Vietnam to fix faults found in their front passenger airbags and starter switches, respectively.
— Tuoi Tre

US volume of Vietnamese rambutan to resume this week
Shipments of rambutan are set to arrive in the U.S. from Vietnam this week.
— Fresh Plaza

Local authorities closely watch on US proposal on steel and aluminum import curbs
The Ministry of Industry and Trade will continue watching closely on moves from the United States related a proposal to impose steep curbs on steel and aluminum imports to be able to ensure legal interests of domestic firms, according to the ministry’s trade defense department.
— The Hanoi Times

Vietnam goes to WTO to challenge U.S. restrictions on pangasius fish
Vietnam has launched a complaint at the World Trade Organization (WTO) to challenge U.S. restrictions on imports of pangasius seafood from Vietnam, a WTO filing showed on Tuesday.
— Tuoi Tre

Vietnam Digest: SCIC fixes base price for BMP auction; PV Power trading on UPCoM
Vietnam state fund SCIC is targeting to raise $103 million from the sale of 24.15 million shares in blue-chip company Binh Minh Plastic while PV Power will trade on UPCoM on March 6
— DealStreetAsia

CGV invests an additional US$200 million in Vietnam
CJ CGV Vietnam (CGV) wants to help Vietnam become one of the five countries with world-class cinema in 2025.
— The Hanoi Times

Poor infrastructure slows Vietnam’s development: PM
Vietnam’s infrastructure is improving with major projects but flaws in planning and slow progress in construction projects remain bottlenecks to the country’s development, Prime Minister Nguyen Xuan Phuc has said.
— Nhan Dan Online

Gap widens in deposit interest rates
A gap has opened up between deposit interest rates offered by different categories of banks due to differences in their liquidity, cash demand and status.
— VietnamNet Bridge

Binh Phuoc enterprises resume operation after Tet
All enterprises in the southern province of Binh Phuoc have resumed their operation with 40,438 workers, or nearly 100 percent, returning to work after the week-long Lunar New Year (Tet) holiday.
— VietnamPlus

Quang Tri to invest in My Thuy International Seaport
Deputy PM Trinh Dinh Dung has directed the Ministry of Planning and Investment to guide the Quang Tri People`s Committee on executing the dossier, sequence and procedures for the investment decision on the My Thuy International Seaport construction project in Hai Lang district, Quang Tri province.
— The Hanoi Times

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