Vietnam Morning News For October 26

Vietnam aims to become a maritime powerhouse by 2030
Vietnam will build its maritime sector to boost economic development and strengthen national defense, a new Party resolution says.
— VnExpress

Vietnam Airlines to use new-generation regional jet aircraft
National carrier Vietnam Airlines plans to replace its fleet of ATR aircraft with new-generation regional jet aircraft containing about 100 seats in order to improve the efficiency of operation and service quality on short routes.
— VietnamPlus

MoIT wants to cut tax for locally produced auto parts
The Ministry of Industry and Trade (MoIT) wants to take advantage of market and policy opportunities to promote automobile manufacturing projects of domestic automakers including Tru?ng H?i Auto Corporation (Thaco), Thành Công Group and VinFast.
— Viet Nam News

Vietnam’s VinFast in deal with PV Oil for electric car charging stations
VinFast on Thursday signed a memorandum of understanding with PetroVietnam Oil Corp. , or PV Oil, to build charging stations for its electric cars and scooters, its parent said.
— Reuters

Vietnam drinks its way to being Asia’s third-biggest alcohol consumer: study
Vietnam’s alcoholic beverage market is becoming a battleground for several foreign beer producers looking to carve out a foothold in Asia’s third-largest alcohol consuming country.
— Vietnam Insider

Vietnam’s fruit future: Officials urge domestic focus despite soaring export volumes
Vietnam’s fruit and vegetable exports reached the VND 63.5tn (US$2.7bn) mark as of September 2018, up 14.1% year-on-year, but officials are concerned that more needs to be done to improve sales to domestic consumers.
— Food Navigator

Top 10 most prestigious retailers in Vietnam in 2018 announced
The Vietnam Report Company, in collaboration with VietNamNet newspaper, announced the Top 10 most prestigious retailers in Vietnam in 2018 on October 25.
— Nhan Dan Online

Airline passengers projected to double in 2037
The number of airline passengers could double to 8.2 billion in 2037, the International Air Transport Association (IATA) said in a 20-year forecast on October 24.
— VietnamPlus

Traffic congestion costs Hanoi USD1.2bn a year
Hanoi is losing USD1-1.2bn a year due to traffic congestion according to the Transport And Development Strategy Institute under the Ministry of Transport.
— Vietnam Insider

US$72 million project on strengthening banking sector’s capacity reviewed
The State Bank of Vietnam (SBV) held a conference in Hanoi, on October 25, to review the Financial Sector Modernisation and Information Management System (FSMIMS) project.
— Nhan Dan Online

Vietnam to accomplish well all socio-economic goals
Propelled by the global economy’s positive impacts helping raise Vietnam’s global trade and investment, the Southeast Asian country is expected to accomplish well in all its macro-economic goals for this year, with growth quality improved and a rise in foreign direct investment, Thu Ha reports.
— Nhan Dan Online

Southern provinces want environmentally-friendly LNG power, not coal power
The building of new thermopower plants has recently become a cause célèbre in the country as economic demands and environmental concerns face off, especially with a number of localities rejecting central Government-approved plants.
— Viet Nam News

CPTPP opens opportunities for Vietnamese enterprises to expand market
The Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) will create more incentives for Vietnam in term of market openings and investment development with other countries in the region and around the world.
— Nhan Dan Online

Vietnam’s Oil Production To Drop 10% Annually By 2025
Depleting mature fields and lack of new exploration and investment will result in Vietnam’s crude oil production declining by 10 percent every year until 2025, the state-run Vietnam Oil and Gas Group, or PetroVietnam, said on Wednesday.
— Oilprice

Bumper harvest boosts fisheries’ profits, shares
Strong growth of local fisheries production and exports has helped many listed firms increase profits, with some even hitting their yearly profit targets in only nine months.
— Viet Nam News

Cargill opens its largest feed mill in Vietnam to serve livestock industry
Cargill recently opened a new $28 million feed mill in Binh Duong province to better serve livestock farmers in South Vietnam.
— Feedstuffs

Vietnam calls for enhanced multilateral cooperation in security
Vietnamese Minister of National Defence General Ngo Xuan Lich has urged all countries to reinforce cooperation institutions and mechanisms, particularly multilateral ones, to better manage international security.
— Nhan Dan Online

New product could wake up soporific canned coffee market
One of the largest beverage makers in the world is hoping to ‘capture’ Vietnamese taste with its new canned coffee product.
— VnExpress

Technology drives global supply chain participation
Export turnover has been growing steadily in recent years, however, Vietnamese enterprises still face a range of difficulties and limitations when participating in global value chains.
— Nhan Dan Online

Vietnam suspects Korean steel giant Posco of smuggling car parts
South Korean steelmaker Posco has rejected allegations by Vietnam Customs that it has smuggled in car parts.
— VnExpress

Viettel to offload entire holding at Vinaconex
The buyer would have to purchase the entire amount at the minimum of VND2 trillion (US$85.65 million), for which the starting price for each share is VND21,300 (US$0.91).
— The Hanoi Times

Banks need hundreds of million of dollars for digitalization
Vietnamese bankers have all announced that they will digitalize banking transactions, but only a few banks have kicked off the process.
— VietnamNet Bridge

Best Western to open Premier hotel in Vietnam
Best Western Hotels & Resorts has signed a deal to open an upscale hotel overlooking Ha Long Bay, the UNESCO World Heritage site in Vietnam.
— Hotel Management

Big cities should be financial hubs
The Government should develop Ha Noi and HCM City into financial centres as local businesses lack capital markets, National Assembly (NA) deputy Pham Phu Quoc said on Tuesday.
— Bizhub

Vietnam benchmark Vn-Index tops world’s fastest growing indexes
The impressive growth rate of Vietnam`s stock market is thanks to strong growth recorded in the fourth quarter of 2017 and first quarter of 2018.
— The Hanoi Times

Vietnam foresees new wave of Japanese investments
Strengthened bilateral ties between the two countries as well as Vietnam’s high economic growth and improved business environment will usher in a new wave of Japanese investment in the South East Asian country, experts said.
— VietnamNet Bridge

French PM to visit Vietnam
French Prime Minister Edouard Philippe will pay an official visit to Vietnam on Nov. 2-4, the Vietnamese Ministry of Foreign Affairs announced on Thursday.
— Xinhua

VN’s first waste-to-power plant to be officially operational in Nov
The Thoi Lai waste-to-energy plant in the Mekong Delta city of Can Tho is expected to be put into official operation in late November.
— VietnamPlus

Vietnam puppetry in integration process
During the fifth International Puppetry Festival 2018 in Hanoi from October 8-15, Vietnamese puppeteers had a chance to introduce the quintessence of the country’s puppetry to international friends, affirming its position in the integration process.
— Nhan Dan Online

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

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).

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