Vietnam Morning News For May 7

Shrimp industry ambitious for $4.8 billion export plan
Vietnam’s shrimp exporters are expected to meet the US$4.8 billion export target this year thanks to market advantage and competitive improvement of added-value products.
— The Hanoi Times

Viettel’s revenue from overseas investment reaches 1.7 bln USD
Viettel Group’s revenue from its overseas investment in 2017 surged by 38 percent from the previous year to reach 38 trillion VND (1.7 billion USD).
— VietnamPlus

Developer seeks $50M addt’l investment in Vietnam
Infrastructure developer CII Bridges and Roads Investment Joint Stock Co. (CII B&R) is seeking additional funding from the tollways unit of Metro Pacific Investments Corp. (MPIC) to partly finance the estimated $300 million tollways projects in Vietnam.
— Malaya

New regulation in textile industry postpones until next year
The application of a new regulation on formaldehyde and aromatic amines limits used in Vietnam’s textile industry will be postponed until January 1 next year, instead of May 1 this year as planned earlier, the Ministry of Industry and Trade announced on its website.
— The Hanoi Times

Vietnam should rethink locations of proposed special economic zones
It’s hard to see any logic behind Vietnam’s choice for special economic zones, all of which are far from the biggest cities.
— VnExpress

Vietnam toll road operator wants Metro Pacific to raise investment
Vietnam toll road operator CII Bridges and Roads Investment Joint Stock Co. is seeking additional capital from Filipino investor Metro Pacific Tollways Corp.
— The Standard

Visa exemption extended for 3 years
Tourists from the United Kingdom, France, Germany, Spain and Italy will continue to be exempted from visa until June 2021, Prime Minister Nguyen Xuan Phuc said at a Government meeting on Thursday.
— Bizhub

Behind the lobbyists who drew Trump to Vietnam
The Washington-based lobbying firm hired by a major Vietnamese military-run company to promote its defense-related interests is at the center of legal proceedings brought against a close associate of US President Donald Trump.
— Asia Times

Fruit-vegetable surpasses crude oil in export earnings
The export value of fruit and vegetable in the first four months of 2018 has exceeded earnings from crude oil for the first time ever, according to the Ministry of Agriculture and Rural Development.
— VietnamPlus

Second tunnel of Ho Chi Minh City subway line nears completion
Construction of the second tunnel of the first-ever metro line in Ho Chi Minh City is reaching its completion phase, with workers busy drilling the ground and installing large concrete slabs to meet a June deadline.
— Tuoi Tre

Banks tighten lending rules
Many commercial banks in the country have increased loan interest rates by 1-2 per cent to investors in real estate as property prices continue to rise.
— Bizhub

Philippines accepts 250,000T rice offers from Vietnam, Thailand
Vietnam also won a separate deal involving 80,000 tonnes of 25 percent broken rice at $517.50 a tonne, below the NFA’s budget of $520.50 a tonne
— Tuoi Tre

Data management needs to streamline for digital economic growth
Vietnam should develop a legal framework on data management to boost the growth of digital economy, experts said.
— The Hanoi Times

High air freight costs hinder Vietnamese fruit exports
The shipping fee per kilogram of fruit can be three times higher than the price at farmer’s garden.
— VnExpress

ODA projects scrutinized for optimal investment efficiency
Deputy Prime Minister Pham Binh Minh instructed relevant authorities to scrutinize approved projects using foreign loans in a move to optimize the capital source.
— The Hanoi Times

Hanoi promotes auctions of land use rights
Hanoi plans to promote auctions of land use rights from now to 2020 in order to make effective use of land fund and meet the increasing demand of businesses and people.
— VietnamNet Bridge

Private sector needed in infrastructure
After handing over the newly-built Pham Van Dong Street in Ho Chi Minh City to the local government at the end of 2016, GS E&C, one of South Korea’s leading property developers and engineering construction companies, actively sought further business opportunities in Vietnam last year and prepared to launch long-awaited property projects in the city.
— VietnamNet Bridge

Strong growth for steel production
Steel production and consumption showed strong growth in the first four months of this year owing to favourable weather, said Nguyen Van Sua, deputy chairman of the Viet Nam Steel Association.
— Bizhub

Remittance to Vietnam on the Rise
Vietnam received nearly US$13.8 billion in remittances in 2017, making it the eighth highest recipient of remittances in the world.
— Vietnam Briefing

Siemens, Idemitsu among suitors drawn to Vietnam energy sell-off
Buyers from Germany, Japan, India and beyond are kicking the tires on Vietnam’s great state asset sale.
— DealStreetAsia

Vietnam exempts import tax for Emirates Airline
Deputy Prime Minister Vuong Dinh Hue has agreed with the Ministry of Finance’s proposal to exempt tax on imported goods of Emirates Airline.
— VietnamPlus

Certificates of origin to be issued by exporters next year
Vietnamese exporters to the European Union (EU) will be obliged to issue self-certification of origin (C/O) from next year to be able to enjoy the Generalized System of Preferences (GSP).
— The Hanoi Times

Quang Ninh puts the breaks on land sales
Quang Ninh Province’s local authorities requested the suspension of land use conversions and land transfers in Van Don District until the National Assembly adopts the Law on Special Administrative Economic Zones later this month.
— Bizhub

UBM Asia signs MOU with Vietnam’s Ministry of Agriculture and Rural Development witnessed by Vietnam Prime Minister
Vietnam’s Ministry of Agriculture and Rural Development and UBM Asia signed a Memorandum of Understanding (MOU) to cooperate in promoting Vietnam Agro Trade in region by contributing the development of action plan to enhance agro value chain management, agro processing and agro trade in Vietnam.
— AEC News Today/ PR Newswire (media release)

Mekong Delta shows best competiveness nationwide
The Mekong Delta has consistently recorded the highest average provincial competitiveness index (PCI) among six regions nationwide since 2014, said the Vietnam Chamber of Commerce and Industry (VCCI).
— VietnamPlus

Youngsters will lead Viet Nam to future prosperity
Young Vietnamese entrepreneurs must pay attention to six crucial steps in order to successfully found a startup business, said CEO of Startup Viet Nam Foundation (SVF) Pham Duy Hieu at a forum held on Friday in Hai Phong.
— Bizhub

Feature photo Lucas Jans

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