Vietnam Morning News For October 17

Vietnam 16th top country for expat earnings: HSBC survey
An annual HSBC survey says expats in Vietnam earn an average of $90,408 a year, ranking 16th in the world.
— VnExpress

Vietnam’s per capita GDP long way away from 2020 target
Vietnam’s GDP per capita is set to increase this year, but its 2020 target of $3,200-3,500 looks distant. Minister of Planning and Investment Nguyen Chi Dung said at a National Assembly meeting Monday that if Vietnam’s GDP increases by 6.7 percent this year, per capita GDP will reach $2,540, up $155, or 6.1 percent year-on-year, and 1.21 times that of 2015.
— Vietnam Insider

Vietnam police bust massive meth haul
Vietnam police discovered a massive haul of suspected methamphetamine worth an estimated US$3 million after pulling over a speeding truck, authorities said on Tuesday (Oct 16), the latest major bust in a country where synthetic drug use is on the rise.
— Channel NewsAsia

MoIT makes out case for crypto mining
The Ministry of Industry and Trade (MoIT) has proposed not to suspend the imports of cryptocurrency mining machines (HS code 8471.80.90) in order to ensure the production and business activities of enterprises.
— VietnamPlus

Why Vietnam’s auto industry never stepped on the gas
Vietnam’s auto industry has suffered from rewards not being connected to production and the neglect of domestic suppliers.
— VnExpress

Textile & garment, footwear industries told to expect new FDI wave
The foreign direct investment (FDI) flow into the textile & garment and footwear industries increased sharply after Vietnam signed the EU-Vietnam FTA and CPTPP, and is expected to continue to rise in the context of the US-China trade war.
— VietNamNet Bridge

Vietnam’s infrastructure growth hinges on profitability, funding
The realization of the country’s ambitious infrastructure development plan depends on how it sorts out issues of profitability and funding.
— VnExpress

Vietnam boosts sale of locally-made goods
Modern distribution networks are considered an effective and sustainable sale channel for Vietnamese enterprises. However, local enterprises have faced a number of difficulties in terms of experience and international business knowledge.
— VietnamPlus (video)

Brokerage revises up earnings forecasts for Vietnam banking sector
The brokerage firm expected the credit growth of its Vietnamese bank universe to remain robust, at 16% median in 2018 (19% in 2017), followed by 15% in 2019.
— The Hanoi Times

NFSC proposes lowering corporate income tax on SMEs
Corporate income tax levied on small and medium – sized enterprises (SMEs) should be reduced to promote the business development, a solution together with broadening tax base to increase budget revenue from business and production.
— Bizhub

Vietnam’s billion-dollar transportation projects
These road, railway and aviation projects cost up to $58.6 billion and will be invested in by both the government and private companies.
— VnExpress

Coffee exports rise, but value stagnates
Viet Nam exported 1.46 million tonnes of coffee worth US $2.77 billion in the first three quarters of 2018, an increase of 20.1 per cent in volume and 0.4 per cent in value compared to the same period last year.
— VietNamNet Bridge

Foreign manufacturers rush to relocate production from China to Vietnam
Many foreign manufacturers in China are speeding up plans to move their factories from China to Vietnam in a move to take advantages here and avoid impacts of the US-China trade conflict.
— The Hanoi Times

Viet Nam’s mechanicsindustry attracts foreign firms
More than 75 per cent of exhibitors attending the 6th International Precision Engineering, Machine Tools and Metalworking Exhibition & Conference (MTA HANOI 2018), which opened in Ha Noi on Tuesday, come from foreign countries such as the US, UK, South Korea, China and Taiwan. This demonstrates the attractiveness of Viet Nam’s mechanics sector, the organiser said.
— Bizhub

Investment environment is key for Hanoi to attract FDI: Mayor
Hanoi identifies investment environment is instrumental in attracting FDI for development, which translates in its first place in FDI attraction nationwide this year, according to Nguyen Duc Chung, chairman of Hanoi People`s Committee.
— The Hanoi Times

Mattis to visit toxic Agent Orange site in Vietnam
US forces used what is now the Bien Hoa airport outside Ho Chi Minh City as one of the main staging grounds for storing and deploying the poisonous defoliant that is feared to have seeped into ground water, rivers and the local food chain.
— Channel NewsAsia

Crowdfunding to save South African national detained in Vietnam for drug smuggling
The family of South African national Tyron Lee Coetzee who was sentenced to death for smuggling cocaine in Vietnam‚ is pulling out all the stops to save him.
— TimesLive

Vietcombank sells less than 1% of Military Bank shares on offer
Vietcombank is expected to offer the remaining shares amount on the stock market via put-through transaction, for which the specific date has not been disclosed.
— The Hanoi Times

Workforce skills training key in preparation for Industry 4.0
Doãn M?u Di?p, deputy minister of Labour, Invalids and Social Affairs, talks to the newspaper Th?i báo Kinh t? Vi?t Nam (Vi?t Nam Economic Times) about what Vi?t Nam should do to prepare its labour force for the age of Industrial Revolution 4.0.
— Viet Nam News

Vietnam fosters comprehensive relationship with Europe
Promoting the Comprehensive Partnership and Cooperation between Vietnam and the European Union (EU) is always one of the priorities of strategic importance in Vietnam’s foreign policy and international integration process.
— Nhan Dan Online

How technology is transforming lives in Vietnam
While Industry 4.0 may call to mind images of futuristic smart cities and robot waiters, it’s already transforming Vietnam.
— Borneo Bulletin

Vietnam-India market’s rapid growth, VietJet first with nonstops
VietJet Air is poised to become the first airline to operate scheduled nonstop flights connecting Vietnam and India. The Vietnamese LCC plans to operate four weekly services initially, from Ho Chi Minh to Delhi, but over the next several years could add several routes to India.
— CAPA

Bà R?a-Vung Tàu seeks investment from S Korea and Japan
A delegation of Ba Ria-Vung Tau will travel to Japan and South Korea from October 17 to 26 to call for investment from these two countries into the southern province.
— Bizhub

The Same-Sex Couple From “The Bachelor Vietnam” Are Now Officially Together
So remember last month when The Bachelor Vietnam contestant Minh Thu confessed her love for another contestant, Truc Nhu, and asked her to leave the show with her, only for Nhu to decide to stay?
— Buzz Feed

Feature photo World Bank Photo Collection

This week’s Vietnam morning news feature photo acknowledges International Day for Rural Women, October 15.

Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

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.