Vietnam Morning News For October 3

Vietnam ex-party chief behind harsh communist reforms dead at 101
Vietnam’s former Communist Party leader Do Muoi, a revolutionary who broke out of a French prison and later led the controversial push to dismantle private businesses after the Vietnam War, died late Monday (Oct 1) at age 101, officials said.
— Channel NewsAsia

Top 5 tips for doing business in Vietnam
With Vietnam’s economy expanding at an impressive rate, navigating its unique business culture is vital for potential investors hoping to enter this burgeoning market.
— World Finance

Vietnam launches agency to manage 19 biggest state-owned firms
Vietnam has launched a ministry-level government agency aimed at boosting the performance of some of the Communist nation’s biggest state-owned enterprises (SOEs).
— Vietnam Insider

Central bank takes no responsibility for ‘black’ lending: SBV official
Some online lenders that offer very high interest rates are in fact a form of ‘black’ credit and the State Bank of Viet Nam (SBV) is not responsible for management over such activities, SBV deputy governor Nguyen Thi Hong has said.
— Bizhub

Big increase in Vietnamese fruit and vegetable exports
Vietnamese fruit and vegetable exports should reach over $4 billion this year thanks to average growth reaching over 14%. According to the Department of Import-Export at the Ministry of Industry and Commerce, fruit and vegetable exports in the first 8 months of 2018 have already reached $2.7 billion.
— Fresh Plaza

Vietnam to speed development of 5G network
VIETNAM’S Ministry of Information and Communications is encouraging the development of broadband infrastructure to complete the 4G network and begin work on 5G as early as possible to enhance the performance of the Internet of Things (IoT).
— The Nation

Vietnam’s U18 liquor sales ban impractical, experts say
Experts say it will be difficult to implement an age-based ban on selling liquor, better options are needed.
— VnExpress

Brokerage projects VietinBank’s pre-tax profit to reach US$430 million in 2018
Brokerage expected the bank`s provision expense will continue to be high in next five to six quarters and undermine its earnings.
— The Hanoi Times

Cambodia Accused Vietnam of Systematic Logging Fraud
Cambodia has asked INTERPOL to investigate its allegations that Vietnam has repeatedly and knowingly accepted fraudulent permits for endangered luxury timber that is illegally logged across the border.
— VOA Cambodia

Growth rate of retail sales and services up 11.3%
Viet Nam’s total revenue from retail sales and services in the first nine months of this year is estimated at nearly VND3.24 quadrillion (US$138.64 billion), up 11.3 per cent year-on-year, according the General Statistics Office (GSO).
— Bizhub

Vietnam bishops plan family support
Bishops in Vietnam have asked Catholics in a fast-changing society to provide pastoral care to internal migrant couples as well as families facing difficulties such as marriage break-ups.
— UCA News

Vietnam: Dong Thap deploys protective measures for fruit crops
Vietnam’s Dong Thap province is threatened by dangerously high water levels in the Mekong Delta, as are the major fruit crops grown there. Local authorities have deployed various flood prevention plans to protect the fruit.
— Fresh Plaza

VinFast Steals the Show in Paris
Global sporting and style icon, David Beckham, helped new Vietnamese car manufacturer, VinFast, reveal its first two vehicles at the 2018 Mondial de l’Auto in Paris earlier today.
— AEC News Today/ PR Newswire (media release)

Belt Road Capital invests US$3 million in Vietnamese P2P lending platform Tima
Belt Road Capital Management (BRCM), a Greater Mekong-focused private equity fund, has invested US$3 million in a Series B funding round of Tima, a Vietnamese financial marketplace and peer-to-peer (P2P) lending platform, local media reported.
— The Hanoi Times

Vietnam has been forecasted to face 2-3 storms in late year
Vietnam has been forecasted to see 2-3 tropical storms from now to the year-end which would mostly happen in the central and southern regions.
— Vietnam Insider

What’s Next for the Presidency in Vietnam?
The death of a president has raised wider questions about the role in addition to a focus on his legacy.
— The Diplomat

CNN lists the best banh mi restaurant in Hoi An
There is a banh mi stand on almost every corner in Hoi An, an ancient town in central Vietnam, but which are the best of the best?
— Vietnam Insider

Vietnam strives to become strong sea-based country
Vietnam has exerted efforts to tap into its immense maritime potential to become a strong, prosperous country based on its marine economy.
— VietnamPlus

Vietnam among top cruises to visit in 2019
A cooking cruise on the Mekong from Vietnam to Cambodia has been selected as one of seventh best river cruises to book now, according to British journalist Caroline Hendrie of Mail on Sunday.
— Nhan Dan Online

Hitachi Zosen Expands its Waste to Energy Operations in Vietnam
Osaka, Japan based industrial technology firm Hitachi Zosen Corporation’s subsidiary, Hitachi Zosen Vietnam Co., Ltd., yesterday opened a branch in Hanoi as it aims to expand its waste to energy operations in the country.
— Waste Management

Why Vietnam a magnet for Thai firms
Vietnam has attracted a growing number of big Thai corporations to invest in its huge domestic market of 96 million people, a new trend that should be closely watched by Thai economic planners. While Vietnam’s GDP is half the size of Thailand’s – $223 billion to $455 billion in 2017 – its economy has for years been growing at a much faster rate, averaging 6-7 per cent per annum.
— Phnom Penh Post

Brunei patrol vessel docks in central Vietnam
Brunei Navy’s offshore patrol vessel KDB Daruttaqwa docked Tuesday at the Tien Sa Port in central Vietnam.
— VnExpress

Feature photo pxhere

This week’s Vietnam morning news feature photo acknowledges International Day of Older Persons, October 1.

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.