Vietnam Morning News For May 24

Vietnam’s Techcombank readies for market debut after raising $922 mln
Vietnamese lender Techcombank will list its shares on the Ho Chi Minh Stock Exchange next month, the bank said on Wednesday, making it the country’s seventh biggest firm by market value.
— Reuters

Chinese ships were ‘invading’ Vietnamese waters: top defense official
The act was to back China’s nine-dash line which claims most of the South China Sea as its own, the official said.
— VnExpress

Vietnam considering raising import tax on oil products from July 1: traders
Vietnam is considering raising the environment tax levied on oil product imports from July 1, industry sources said Wednesday.
— Platts

New decree expected to halt temporary import violations
Goods temporarily imported for re-export can be kept in Viet Nam for no more than 60 days from the date of completion of customs formalities, according to a new Governmental decree.
— Bizhub

Three major airports need over 5 billion USD for upgrading
More than 116 trillion VND (5.11 billion USD) is needed to build Long Thanh airport and upgrade Noi Bai and Tan Son Nhat airports for the 2018-2021 period, with a vision to 2025, according to the State-owned Airports Corporation of Vietnam (ACV) investment plan.
— VietnamPlus

Vietnam’s shrimp export goal faces imminent failure as farmers close ponds
They can no longer make a profit after shrimp prices plummet to a 10-year low.
— VnExpress

Investors suggest building $8bn artificial island in Da Nang Bay
A group of investors have proposed building a US$8-billion man-made island from land reclamation in Da Nang Bay, with the expectation that a Dubai-like area will emerge here.
— Tuoi Tre

MoIT asked to report on solar power plants
The Ministry of Industry and Trade (MoIT) has been asked to report the list of approved solar power plants to Prime Minister Nguyen Xuan Phuc before July 15, 2018.
— VietnamPlus

Only 2% cooperatives have access to loans
Cooperatives play an important role in improving the capacity and position of the economy.
— Bizhub

HCM City calls for investment in waterway, seaport projects
Ho Chi Minh City is calling for investment in waterway and seaport projects.
— VietnamPlus

Government decree cuts requirements for online businesses
The Government has reduced the number of conditions and notification procedures required from online businesses in a bid to create a more favourable investment environment online.
— Bizhub

Vietnam should think twice before investing in ‘risky’ special economic zones: official
Many countries have failed in developing their own zones, a conference heard on Tuesday.
— VnExpress

Vietnam adjusts down reference exchange rate
Vietnam’s central bank on Wednesday lowered its reference exchange rate between Vietnamese dong and U.S. dollar by 11 Vietnamese dong to 22,584 Vietnamese dong per U.S. dollar.
— Xinhua

HCM City signs China trade deal
HCM City and China’s Shandong Province aim to facilitate bilateral trade by holding more networking events, encouraging investments between both sides, and signing a Memorandum of Understanding (MoU), promising more support in the future.
— Viet Nam news

Wide door for Vietnamese rice export
According to the General Department of Vietnam Customs, rice export grew 23.8 percent in volume to over 2.2 million tonnes, earning 1.11 billion USD, up 39.7 percent in value in the first four months of this year, a high figure over the past five years.
— VietnamNet Bridge

Experts fear potential real estate bubble in Vietnam
The price doubled last year’s, and has climbed a further 30-50 percent so far this year.
— VnExpress

Challenges face Vietnam’s economy despite positive prospects
Vietnam’s economy had a good start in 2018 with a 7.38 percent GDP growth in the first quarter, but experts warn of challenges and risks ahead in the remaining months of the year as well as following years.
— The Hanoi Times

Thai ‘investment wave’ in Vietnam getting stronger
Thai investors are expected to increase their presence in Vietnam through capital contribution and M&A deals, analysts say. This will pose a challenge for Vietnamese goods.
— VietnamNet Bridge

Vietnam’s pangasius exports to China see strong growth
Revenues from exports of Vietnamese pangasius to China during the first four months of 2018 soared by 43% over the same period of last year to US$145 million, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
— Nhan Dan Online

CPTPP’s a must to help VN businesses grow
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will be the backbone of international economic and trade commitments for Vietnamese businesses, despite some changes from its predecessor, the now defunct Trans-Pacific Partnership (TPP) agreement.
— Bizhub

Vietnamese businesses’ products to be shown in ThaiFex 2018
The highlight of the Vietnamese delegation at the event will be an ‘organic and nature village’ which will feature a display of a range of Vietnam’s organic products, including dried fruits, rice, processed coconut, and organic milk.
— The Hanoi Times

FDI sector significantly contributes to Vietnam’s economy
The foreign direct investment (FDI) sector has become an important part in Vietnam’s economy, with remarkable contributions to the country’s socio-economic development.
— VietnamPlus

SK Holdings, Japan’s Idemitsu among suitors for 44.72% stake in Vietnam’s PVOIL
PetroVietnam Oil Corp is in talks to sell a 44.72 percent stake to strategic investors later this year, after its $184 million initial public offering in January, its parent Vietnam Oil and Gas Group, or PetroVietnam, said on Wednesday.
— DealStreetAsia

Chinese tourists pay via unlicensed mobile wallets, POS in Vietnam
More and more Chinese tourists are using mobile wallet apps or unlicensed POS (Point of Sale) machines to make purchases at several popular Vietnamese destinations, a practice banking experts say would shrink the country’s tax revenue.
— Tuoi Tre

Vietnamese firms strive to access foreign distribution channels
Along with ensuring quality and safety, Vietnamese firms should make their products’ price suitable and meet customers’ demands to sell in foreign distribution channels, said Naohisa Saeki, AEON Vietnam’s Deputy General Manager.
— VietnamPlus

Vietnam Is a Frontier Market for Good Reason
Anyone visiting the vibrant and bustling metropolis that is Ho Chi Minh City would hesitate to call Vietnam a frontier market.
— BloomBerg

They came here as refugees. Now the U.S. may be deporting some Vietnamese nationals.
An agreement between the U.S. and Vietnam excludes Vietnamese nationals who arrived in the U.S. before July 12, 1995, from being subject to deportation.
— NBC News

Vietnam Digest: WisePass raises $150k; State earns $69k from airline auction
Vietnam-based lifestyle subscription service WisePass has raised $150,000 seed funding round from angel investors while Vietnam State has raised VND1.57 billion ($69,080) from transferring the right to buy 57.9 million of its shares in flag carrier Vietnam Airlines.
— DealStreetAsia

Vietnam’s TTC Hospitality launches financial statement
Thanh Thanh Cong Tourist Joint Stock Company (TTC Hospitality – VNG) has just released their business statement for quarter I – 2018.
— Tuoi Tre

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