Vietnam Morning News For May 23

US hikes tariffs on Chinese steel exported via Vietnam
The United States has raised tariffs on steel from Vietnam that Washington says originated in China and evaded anti-dumping duties on Chinese steel.
— CNBC

Gov’t asked to help automakers overcome difficulties
Auto businesses are concerned about Viet Nam’s future policy orientation with regard to the auto industry, which they think will affect their business strategy.
— Bizhub

Vietnam to slash tax incentives for casino developments in special economic zones
Vietnamese officials are contemplating cutting previously agreed tax incentives for casino operators in the country’s special economic zones (SEZs).
— Asgam

Vietnam’s shrimp export likely to miss $10bn target due to price drop
Vietnam has seen the ten-year lowest price of shrimp, leading the country’s target of US$10 billion in shrimp export by 2025 to the edge of failure.
— Tuoi Tre

Vietnam gets ‘yellow card’ from EU for unregulated fishing
Do Van Hung, a 58-year-old, third-generation Haiphong fisherman, plies his colorful new 60-foot wooden trawler through a sea that no longer seems boundless.
— Washington Times

Property tax plan postponed at least until 2020
Tax on houses valued at more than VND700 million (US$30,800) will not be applied at least in the next two years as the property tax law is still being studied, Nguyen Van Phung, director of the General Department of Taxation’s large-sized enterprises division, said.
— The Hanoi Times

SBV to probe credit institutions’ operation
The State Bank of Vietnam (SBV) has asked credit institutions to review the implementation of its regulations on consumer loan management.
— VietnamPlus

E-finance system to be operational in 2025
The Ministry of Finance is taking initiative in applying technological achievements of the fourth industrial revolution to be able to provide smart financial services in 2025.
— The Hanoi Times

Vietnam scraps regulations to facilitate internet-based businesses
The Vietnamese Government has issued a decree, known as Decree 27, for the removal of many business regulations which will make it easier to conduct business on the internet.
— Nhan Dan Online

Vietnam, with its low property prices, has become a new treasure hunting ground for Hong Kong and China buyers
With properties priced at a discount to those in neighbouring Singapore and Thailand, Vietnam is rapidly drawing Hong Kong and China investments its way and becoming a popular investment destination.
— South China Morning Post

Vietnam’s GDP projected at 7% in 2018
The country’s growth domestic production (GDP) could reach 7.02 percent this year at the best scenario, according to the National Center for Socio-economic Information and Forecast (NCIF).
— The Hanoi Times

Ho Chi Minh City prioritises luring FDI in urban development
Ho Chi Minh City is giving the priority to luring new-generation foreign direct invest (FDI) in the fields of high technology and urban development, along with FDI attraction in the four main industries and two traditional sectors.
— VietnamPlus

Vietnam’s export turnover exceeds US$80bn
As of May 15, Viet Nam’s export turnover reached US$82.63 billion, a year-on-year increase of 18.7 per cent, according to the statistics of the General Department of Viet Nam Customs.
— VietnamNet Bridge

Vietnam’s leading mobile retailer The Gioi Di Dong shutters six stores in month
Vietnam’s leading mobile retailer The Gioi Di Dong (Mobile World) has for first time had to close as many as six stores in a row this year, whereas its new business in the grocery sector is struggling.
— Tuoi Tre

Conference highlights CPTPP’s commitments, tips for businesses
The Vietnam Chamber of Commerce and Industry (VCCI) and the Ministry of Industry and Trade co-hosted a conference in Hanoi on May 22, focusing on basic commitments of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) and recommendations for businesses.
— Nhan Dan Online

Lotte Mart rejects loss reports
Lotte Vietnam Shopping Joint Stock Company (Lotte Mart Vietnam) has written to the Ministries of Information and Communications and Finance and the media dismissing the false reports in some newspapers that it has made losses of VND2.3 trillion (US$100.87 million) in its 11 years in Viet Nam.
— VietnamNet Bridge

Japanese firms step up win-win cooperation with HCM City partners
The Japanese Chamber of Commerce and Industry in Ho Chi Minh City (JCCH) will actively collaborate with businesses in Vietnam’s southern economic hub for mutual long-term benefits and development.
— VietnamPlus

Startups in VN need easier capital attraction
ELSA, a mobile app founded and managed by Vietnamese Vu Van and that uses artificial intelligence (AI) and speech recognition technology to help language learners improve their English pronunciation, also announced Pre-Series A Round funding of $3.2 million, led by Monk’s Hill Ventures.
— VietnamNet Bridge

Vietnamese, Thai publishers seek partnerships
The Thai Embassy in Vietnam and the Publishers and Booksellers Association of Thailand co-organised a networking event in Hanoi on May 22 to connect Vietnamese and Thai publishing companies.
— VietnamPlus

Dozens of taxes, fees burden VN car users
There are also many kinds of official taxes and fees on cars.
— VietnamNet Bridge

Follow the ETF Route to Tap Vietnam’s Record Growth in Q1
With outstanding first-quarter results, Vietnam has surprised analysts with 7.38% growth mainly in its three key sectors; manufacturing, agriculture and construction activities.
— Nasdaq

Vietnam: DFJ VinaCapital-backed Yeah1 listing; Thai plastic giant ups stake in BMP
DFJ VinaCapital-backed entertainment group Yeah1 will trade 27.4 million shares on HoSE while the Nawaplastic Industries has increased its ownership at Binh Minh Plastic to over 51 per cent.
— DealStreetAsia

Vietnam’s stock market falls from 1,000 points
Vietnamese Deputy Prime Minister Vuong Dinh Hue demanded relevant authorities to find out why the stock market has been so volatile over the past few months.
— VnExpress

Moving Vietnam War monument will cost $152,000
No doubt many have been moved while visiting the Vietnam War Monument in South Bend.
— WNDU (video)

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