Vietnam Morning News For October 23

Rubber industry needs better adaptation to market
The rubber industry of Vietnam is facing a dire need to better adapt itself to the market situation as it is likely to be affected by the US-China trade tension that is forecast to not end soon.
— VietnamPlus

Nearly 80 per cent of fruit stores in Ha Noi meet safety standards
Nearly 80 per cent of the 1076 fresh fruit stores in the downtown districts of Ha Noi met food hygiene, safety and quality control standards, according to the municipal Department of Industry and Trade.
— Bizhub

Vietnam SSC approves RHB Bank to acquire 51 pct stake in Vietnam Securities
RHB Bank Bhd has obtained approval from the State Securities Commission of Vietnam (Vietnam SSC) for its proposed acquisition of the remaining 51 per cent stake in Vietnam Securities Corp (VSEC) for RM21.28 million.
— New Straits Times

Vietnamese PM sees growth for 2018 at 6.7%
Vietnam’s economic growth for 2018 is expected to meet the target of 6.7%, with growth in the first three quarters of 2018 reaching 6.98%, said Prime Minister Nguyen Xuan Phuc at the opening of the National Assembly on October 22.
— Nhan Dan Online

Foreign investors set sights on Vietnam’s seaports
Vietnam’s rapidly growing trade and production have pushed the cargo volume through the country’s seaports to rise by 20-30 percent per annum, making port projects appealing to foreign investors.
— The Hanoi Times

Vietnam’s fruits and vegetables struggle to enter overseas markets
Vietnamese fruit and vegetable exporters are struggling, now that many countries are increasingly imposing quality standards.
— Fresh Plaza

State firms’ debts edge up, worth 50 pct of assets
State-owned firms saw their debts rise by 1.3 percent last year to reach almost half the value of their total assets.
— VnExpress

Key agriculture, industrial product groups for HCM City identified
A number of industrial and agricultural product groups have been identified as the city’s key products in the 2018 – 2020 period, giving them special priorities in terms of growth promotion.
— Bizhub

Vietnam’s Communist Party chief set to become president
Nguyen Phu Trong, the general secretary of Vietnam’s ruling Communist Party, is expected to be chosen as the country’s next president when the one-party state’s rubber-stamp National Assembly meets on Monday, making him the first person since founding father Ho Chi Minh to hold both posts.
— Aljazeera

Vietnam was set for reform — until Trump canceled a trade deal
DOES AMERICA really have the capability to influence other nations toward the ideals of democracy, free markets, rule of law and respect for human rights? Often it seems not when dictators, strongmen and party bosses engage in abominable behavior, silencing critics and imprisoning civil society activists.
— The Washington Post

Dung Quat biofuel plant resumes operations after 3-year suspension
After a three-year hiatus, the Dung Quat Biofuel Plant has reopened and produced its first batch of E100 ethanol fuel.
— VnExpress

Domestic retailers strive to gain competitive edge
Domestic retailers must work to outline rational business strategies to gain a competitive edge over their foreign rivals, especially as the local retail market has become more attractive than ever to foreign investors.
— VietnamPlus

Vietnam develops own earth observation satellite
Vietnam is developing its own earth observation satellite to manage natural resources and mitigate the impacts of climate change and natural disasters.
— Telecompaper

Malaysia arrests 8 Vietnamese for liquor, wildlife trafficking
Eight Vietnamese fishermen have been arrested for smuggling over $72,000 worth of liquor and exotic animals, the Malaymail reported Saturday.
— VnExpress

Vietnam, Cambodia work to fight illegal timber trading
Vietnam and Cambodia should intensify cooperation in monitoring their export and import of timber and wood products, thus minimising illegal timber trading at border areas, heard a dialogue held in Ho Chi Minh City on October 22.
— VietnamPlus

Vietnamese handicraft firms attend Mega Show Hong Kong (China)
Nearly 70 Vietnamese handicraft and gift enterprises are exhibiting their products in over 80 booths at the Mega Show Hong Kong (China) 2018 from October 20-23.
— Nhan Dan Online

Southern region hits target for rice harvest
The southern region estimates that it will produce more than 26 million tonnes of paddy this year, up 1.1 million tonnes against last year, meeting its target for the year.
— VietnamPlus

HCMC faces potential lawsuit over proposed repossession of land from company
A HCMC company, whose prime land is set to be repossessed by the city on suspicion of corruption, has complained to the prime minister.
— VnExpress

Mega food firm KIDO announces modest Q3 results
Giant food producer Kido Group has announced its third quarter results and those of its subsidiaries.
— Viet Nam News

VPBank posts 41% increase in profit in 9 months
Vietnam Prosperity Bank (VPBank)`s total asset value was reported at VND296.21 trillion (US$12.74 billion), up 17% year-on-year.
— The Hanoi Times

HCM City urged to speed up equitisation of State-owned enterprises
Deputy Prime Minister Vuong Dinh Hue has urged leaders of HCM City to promote and arrange the equitisation of state-owned enterprises that operate in HCM City.
— Bizhub

VN indices falter on late selling
Vietnamese shares ended on a negative note for the third session in a row on Monday as profit-taking pressure rose in the closing minutes.
— Viet Nam News

11th Vietnam-Cambodia friendship monument inaugurated in Cambodia
A Vietnam-Cambodia Friendship Monument was inaugurated in Kep, the capital city of Cambodia’s Kep province on October 20, which is the 11th of its kind built under the direction of Cambodian Prime Minister Samdech Techo Hun Sen and his Vietnamese counterpart Nguyen Xuan Phuc.
— Sggp News

Decree 86 expected to fuel foreign investment in education
The Government’s Decree 86/CP, which took effect on August 1, is expected to stimulate investment in education with a new regulation allowing foreign-funded schools to enroll more Vietnamese students.
— VietnamPlus

European beer brand Amstel officially launched in Vietnam
Vietnam’s beer market has witnessed the official arrival of premium European beer brand Amstel, the latest addition to Heineken Vietnam’s product portfolio.
— Vietnam Insider

As prices drop, coffee companies coming back to home market
Coffee exporters have been told to exploit the home market as the export price is on the decrease.
— VietNamNet Bridge

6th session of Vietnam’s 14th National Assembly kicks off in Hanoi
Vietnamese Prime Minister Nguyen Xuan Phuc delivers a report of the Government at the sixth session of Vietnam’s 14th National Assembly in Hanoi, capital of Vietnam, on Oct. 22, 2018.
— Xinhua

Solution near for tech giant tax limbo
Applying the highest tax rate on advertisers of Facebook and Google seems to be the Vietnamese government’s latest solution to collect taxes from the technology giants, who still do not have representative offices in Vietnam and currently pass through a policy blind spot.
— VietNamNet Bridge

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This week’s Vietnam morning news feature photo acknowledges World Development Information Day, October 24.

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