Vietnam Morning News For May 18

Vietnam Morning News For May 18
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Vietnam morning newsVietnam says conducts maritime oil operations under international law
Vietnam’s maritime oil and gas operations are in accordance with international law and conducted in waters in which it has total sovereignty, the country’s foreign ministry said in a statement on Thursday.

Rosneft Vietnam Worried About South China Sea Drilling
Russia’s Rosneft earlier this week announced that it had started drilling a production well off the coast of Vietnam in the South China Sea.
— OilPrice

MoF mulls increasing green tax
The Ministry of Finance (MoF) has proposed increasing environmental protection tax on gasoline from the current VND3,000 to ceiling level of VND4,000 per litre, to help raise the State budget.
— Bizhub

Industry 4.0 innovation poses challenges to Vietnam
On the journey toward the industry 4.0 innovation, Vietnam has met plenty of roadblocks and difficulties. However, one problem seems to be extremely challenging is the lack of high quality workforce. This problem has kept Vietnam from realizing its potentials in the 4.0 era.
— VietnamNet Bridge

Vietnam’s communist government has recognized the past to attract investors, strategist says
Frontier market Vietnam has the right strategy to make it a foreign direct investment hotspot, according to one strategist.

Vietnamese delicacies: Agricultural products rake in cash in global markets
Several cheap and common Vietnamese herbs and fruits are sold at high prices in foreign markets.
— Fresh Plaza

Kim looks to China and Vietnam for economic inspiration
Hoping that the June 12 summit with the U.S. will help ease international sanctions, North Korean leader Kim Jong Un is drawing on Chinese and Vietnamese experience with introducing market forces into previously closed economies.
— Nikkei Asian Review

Vietnam renews support for state with East Jerusalem as capital
Vietnam Thursday renewed its firm position in supporting the legitimate rights of the Palestinian people including the establishment of an independent state with East Jerusalem as its capital.

Commercial banks resume M&A plans
More domestic banks have once again mentioned to merge and acquisition (M&A) plans at this year’s annual general meetings of shareholders after a long time kept it quite.
— The Hanoi Times

Vietnam welcomes AES’s gas investment: Deputy PM
Vietnam values the presence of AES Corporation and investment in the Mong Duong 2 power plant in Quang Ninh, stated Deputy Prime Minister Vuong Dinh Hue.
— VietnamPlus

Imports of oil and petrol increase by 31% in four months
Vietnam spent US$630 million on importing oil and petrol in April 2018, raising the total import value of oil and petrol in the first four months of this year to over US$2.8 billion, up 31.6% over the same period last year.
— Nhan Dan Online

Many FDI firms choose commercial arbitration in resolving disputes
The proportion of FDI enterprises selecting to use commercial arbitration, instead of going to court, in cases of dispute is 40 percent thanks to its effectiveness and transparency.
— The Hanoi Times

Vietnam’s export-led cement market sees strong growth: report
High demand from Bangladesh and the Philippines has led to Vietnamese cement export growth of 27.7 percent.
— VnEpress

Vietnam’s dairy products gain large local market share
Dairy firms in Vietnam have expanded their production rapidly and met local demands in recent years, helping the country reduce the product’s imports.
— The Hanoi Times

Vietnamese businesses reap fruits in foreign markets
Vietnamese firms have had a lot of success while investing in foreign markets.
— VietnamPlus

SAEZs to spur Vietnam’s economic development
The draft Law on Special Administrative-Economic Zones (SAEZs), scheduled for adoption in early next month, reflects Vietnam’s sharp change in mindset in investment attraction, with incentives expected to help lure in investment and boost the country’s economic development.
— VietnamNet Bridge

​Foreign transportation apps ready to ride in Vietnam
With Uber gone and the road clear for Grab to control Vietnam’s tech-based transportation market, two new players are buckling up for their entrances in the Southeast Asian country.
— Tuoi Tre

U.S. auto council bemoans stringent Decree 116
The American Automotive Policy Council (AAPC) has expressed its concern over some points in the Vietnamese Government’s Decree 116/2017/ND-CP on auto trade, saying such policies are more stringent than needed and show discrimination between imported and locally-assembled vehicles.
— VietnamNet Bridge

Air Seoul to open route to Vietnam this week
Air Seoul Inc., the budget unit of Asiana Airlines Inc., of the Republic of Korea (RoK) said on May 17 that it will launch a new route to Da Nang in central Vietnam this week.
— VietnamPlus

Vietnam, Cambodia agree to foster partnerships in various fields
The 16th meeting of the Vietnam-Cambodia Joint Commission on Economic, Cultural, and Scientific-Technological Cooperation was held in Hanoi on May 17 under the co-chair of Vietnamese Deputy Prime Minister and Foreign Minister Pham Binh Minh and Cambodian Minister of Foreign Affairs and International Cooperation Prak Sokhonn.
— Nhan Dan Online

Vietnam Int’l Jewelry and Watch Fair 2018 kicks off
People visit Vietnam International Jewelry and Watch Fair 2018 in Ho Chi Minh city, Vietnam, on May 17, 2018. The four-day fair kicked off here on Thursday.
— Xinhua

Vinhomes makes historic stock market debut
Vinhomes, the real estate arm of Vingroup JSC, listed 2.68 billion shares on the Ho Chi Minh City Stock Exchange on May 16 under the ticker VHM. The company expects to garner attention from foreign investors.
— VietnamNet Bridge

Vietnam continues to enjoy large trade surplus in UK market
Vietnam enjoyed a 1.5 billion USD trade surplus with the UK for the first four months of 2018 as the country exported 1.75 billion USD worth of goods to the market and imported 238 million USD.
— VietnamPlus

Exports to India skyrocketed by over 110%
Vietnam’s export value to India in the first three months of this year jumped by up to 111 percent year-on-year to nearly US$1.57 billion, data from the General Department of Customs showed.
— The Hanoi Times

Cuba – new investment destination of Vietnamese firms
Cuba has emerged as the third biggest investment destination of Vietnamese enterprises after Laos and Cambodia.
— VietnamPlus

IFC names VPBank as best issuing-bank partner for women-owned businesses
The Vietnam Prosperity Joint-Stock Commercial Bank (VPBank) was presented with the award ‘2017 Best Issuing-Bank Partner for Women-Owned Businesses in East Asia and the Pacific’ by the International Finance Corporation (IFC), on May 16.
— Nhan Dan Online


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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.


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Sreypov Men recently completed a course of study in International Relations at the Institute of Foreign Languages.

She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018

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