Vietnam Morning News For March 5

Vietnam’s Data Localisation Push To Hurt Economy, Deliver Few Benefits
Vietnam’s Ministry of Public Security (MoPS) thinks that it is killing two birds with one stone by passing new laws regulating data storage.
— AEC News Today

Vietnam’s Start-Up Scene Thrives, Funding Almost Doubles
Vietnamese start-ups received $291 million in funding last year, an increase of 42 per cent over 2016, according to a recent report by Topica Founder Institute, a Hanoi-based accelerator.
— Investvine

Leather Sector: Vietnam set to invest $100m
A Vietnamese company is set to invest around $100 million in Bangladesh’s leather sector.
— The Daily Star

Honda tries to restart exports to Vietnam
Two months after Vietnam put in place a rule requiring stringent inspections of imported vehicles, some 2,000 Honda Motor passenger cars are slated to arrive at a port near Hanoi early next week, likely the first batch of foreign-made autos to undergo the new checks.
— Nikkei Asian Review

Wood export growth recorded in most markets
Vietnam exported wood and timber products worth 1.48 billion USD to 38 markets in the first two months of 2018, a year-on-year rise of 38.3 percent.
— VietnamPlus

Shipbuilding industry needs special policies
New investment projects committed by Singaporean investors and orders from South Korea have signalled a revival of the shipbuilding industry in 2018.
— VietNamNet Bridge

Vietnam’s GDP projected to touch 8% in Q1 2018
Based on positive macroeconomic indicators in the first two months of 2018, Vietnam can be confident that its GDP growth in the first quarter of the year will be equivalent to the second half of 2017 and even tough 8 per cent in a good scenario.
— The Hanoi Times

Da Nang shuts down two polluting steel factories
The administration of the central city of Da Nang has ordered suspension of the operations of two local steel mills over their polluting activities.
— Tuoi Tre

Shrimp industry takes action for US$10 billion export target by 2025
The shrimp industry must rapidly implement the national action plan for the development of the industry by 2025 to meet the export target of US$10 billion in the next seven years, the Ministry of Agriculture and Rural Development said.
— The Hanoi Times

Retail goods, services generate over US$30.8 billion in Jan-Feb
Retail goods and services generated revenues of VND704 trillion (US$30.88 billion) in the first two months of the year, an annual increase of 10.1 percent.
— Nhan Dan Online

Young Vietnamese creates feeding machine for Vietnam’s export staple
A young Vietnamese man has designed a new machine which can automatically feed shrimp, one of Vietnam’s lifeline food exports.
— Tuoi Tre

Finance ministry proposed to clear over US$1 billion of tax arrears
The Ministry of Finance (MoF) recently proposed the National Assembly to clear over VND26.5 trillion (US$1.16 billion) of tax arrears, which accounted for nearly a third of total tax debt, late payments and fines managed by the tax agencies.
— The Hanoi Times

Vietnam, EU likely to sign FTA soon
Vietnam and the European Union (EU) are likely to sign the EU-Vietnam Free Trade Agreement (EVFTA) soon, Daniel Muller, ASEAN Regional Manager for the German Asia-Pacific Business Association, said in an interview granted to Vietnam News Agency (VNA) reporters in Germany.
— VietnamPlus

India, Vietnam deepen ties on N-energy, trade, agriculture
India and Vietnam agreed to cooperate on nuclear energy, trade and agriculture as Prime Minister Narendra Modi held talks with the President of Vietnam, Tran Dai Quang here on Saturday.
— Times of India

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