Vietnam Morning News For March 15

Private sector to contribute 65% to Vietnam’s GDP by 2020
The Government is taking a series of strong reforms in a move to increase the contribution of the private sector to 65 percent of the country’s gross domestic product (GDP) by 2020.
— The Hanoi Times

2,300 tonnes of beef imported from US, Australia
Viet Nam spent some US$15 million to import nearly 2,300 tonnes of beef from Australia and the United States in the first two months of this year, according to the General Department of Customs.
— Bizhub

Vietnam’s automobile support industry remains underdeveloped
The supporting industry for Vietnam’s automobile manufacturing sector is still underdeveloped, heard a seminar on the industry’s development in the fourth industrial revolution in Ho Chi Minh City on March 13.
— VietnamPlus

Vietnamese beer giant makes great losses using government fund
The largest alcoholic beverage manufacturer in Vietnam has been held accountable for issues concerning its distribution of profits and generation of significant financial losses after using the government budget to invest in various domestic businesses.
— Tuoi Tre

Top legislator: SMEs – momentum of national economy
Small-and medium-sized enterprises (SMEs) have become a momentum for national economic growth, said Chairwoman of the National Assembly Nguyen Thi Kim Ngan.
— VietnamPlus

Govt seeks more non-cash payments for public services
The Government has set itself a target of collecting 80 percent of tax payments in cities through banks and enabling treasuries in all provinces and cities to have cashless payment systems by 2020.
— Bizhub

Vietnam state raises $51m from Vinafood 2’s IPO
The Vietnamese government has raised VND1.16 trillion ($51 million) from selling 23 per cent stake in Vietnam Southern Food Corporation (Vinafood 2) in its initial public offering (IPO) in Ho Chi Minh City Stock Exchange on March 14.
— DealStreetAsia

Vietnam central bank seeks to lower commercial rates
The State Bank of Vietnam will seek to lower commercial interest rates this year to support business activity, while keeping the exchange rate stable, the central bank said in a statement.
— Tuoi Tre

Building trade relations in Vietnam key focus for Minister Doyle this week
Minister of State at the Department of Agriculture, Food and the Marine, Andrew Doyle, begins a four-day visit to Vietnam today (Wednesday, March 14) as part of the Government’s St. Patrick’s Day Promote Ireland Programme.
— Agriland

Vietnam bar owner said to have arranged meeting of suspects in Kim Jong Nam killing
A Vietnamese bar owner was asked to act in a video prank show by a man wanted for the killing of Kim Jong Nam, the North Korean leader’s half-brother, but declined the offer, a Malaysian court heard on Wednesday.
— Business Insider

New US import tariffs will have ‘minor’ impact on Vietnam’s economic growth: official
Vietnam’s economy will grow at a faster pace in 2018 than it did last year when it hit a 10-year high, with U.S. President Trump’s new tariffs expected only to have a “minor” impact on growth, said a senior government official.
— VnExpress

Vietcombank selects Finastra trade finance platform
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has selected Finastra to drive its digital transformation initiatives.
— Finextra

Vietnam pulls state-carrier’s acquisition of Buddhist pay-TV
Vietnam’s Ministry of Information and Communications said on Tuesday that MobiFone, a state-owned mobile carrier, and private local pay-TV operator Audio Visual Global have called off their acquisition deal.
— Nikkei Asian Review

Domestic businesses expect positive impacts by CPTPP
Many domestic businesses expect the newly signed CPTPP will bring positive effects on Vietnam through the expansion of export market along with access to the abundant materials sources in CPTPP member countries.
— VietnamPlus

Vietnam, New Zealand to meet US$1.7 billion bilateral trade target by 2020
Target to raise bilateral trade between Vietnam and New Zealand from US$1.2 billion in 2017 to $1.7 billion in 2020 is quite feasible, Vietnam Ambassador to New Zealand Nguyen Viet Dung said on the occasion of Vietnamese Prime Minister Nguyen Xuan Phuc’s official visit to New Zealand.
— The Hanoi Times

Registration open for ‘Start-up Francophone’ contest
Young people from Viet Nam, Laos, Cambodia and Thailand are invited to take part in the “Start-up Francophone 2018” competition, which will be open from March to September.
— Viet Nam News

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