Vietnam morning news for October 5

Vietnam morning news for October 5
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Vietnam morning newsFDI lays foundation for acceleration of oil and gas sector
Since the Vietnamese Government and Italian contractor AGIP signed the first production sharing contract in 1978, foreign direct investment (FDI) in the oil and gas sector has not only brought large revenue to the country but also laid important foundations for the sector to develop strongly.
— VietnamPlus

Vietnam’s first domestic car manufacturer bets big at Paris Motor Show
At a time when auto companies in the developed world are facing a squeeze on their profits from cash-rich tech firms, Vietnam is betting car-making can be a ticket t o a more prosperous economy, just as it was for the likes of Japan and South Korea.
— The Straits Times

Vietnam Q1-3 fruit and vegetable exports: US$ 3.1 billion
Earnings from fruit and vegetable exports in the first nine months of the year reached US$ 3.1 billion, a year-on-year surge of 17.1%, according to the Ministry of Agriculture and Rural Development.
— Fresh Plaza

World Bank raises Vietnam’s growth forecast for 2018 to 6.8%
The World Bank has upgraded its growth forecast for the Vietnamese economy in 2018 to 6.8%, from a previous estimate of 6.5%, citing a further improvement in the medium-term outlook.
— Nhan Dan Online

VN seafood companies face barriers in home market
Seafood companies are concerned as the year-end and Tet sale season nears, the doors to supermarkets are closed to their products.
— VietNamNet Bridge

Vietnam increases reference exchange rate
Vietnam’s central bank on Thursday raised its reference exchange rate between Vietnamese dong and U.S. dollar by 2 Vietnamese dong to 22,720 Vietnamese dong per U.S. dollar.
— Xinhua

After 30 years, FDI still pays dividends for VN
It has been 30 years since Vi?t Nam promulgated the Law on Foreign Investment on December 29, 1987.
— Viet Nam News

EuroCham: Vietnam’s business climate has improved significantly
European companies expressed their optimism regarding the business environment in Vietnam, according to the latest survey on the Business Climate Index (BCI) in the second quarter of 2018 conducted by the European Chamber of Commerce in Vietnam (EuroCham).
— Nhan Dan Online

Rubber exporters hope US-China trade war ends soon
According to the General Department of Customs (GDC), in the first half of September, Vietnam only exported 77,141 tons, worth $99.1 million, a decrease of 9.9 percent in quantity and 28 percent in value compared with the same period last year.
— VietNamNet Bridge

Asia Coffee: Vietnam quiet despite recovery in global prices; Indonesia premiums tighten
Global coffee prices recovered but markets were subdued in Vietnam and Indonesia due to low stocks in both the countries, traders said on Thursday.
— Reuters

Vietnam to host international tourism fair annually
Ministry of Culture, Sports and Tourism (MoCST) has approved a plan of organising Vietnam International Tourism Fair (VITM), aiming to make it become an important annual international event.
— Nhan Dan Online

FDI policy shift aims to support domestic firms
Viet Nam will institute new policies designed to attract foreign direct investment (FDI) by boosting the development of local companies and setting up value chains driven by advanced technologies.
— Viet Nam News

Over 520 enterprises participate in VietnamPlas 2018
More than 520 domestic and foreign enterprises are taking part in The Vietnam International Plastic and Rubber Industry Exhibition 2015 (VietnamPlas 2018), which opened in Ho Chi Minh City on October 4.
— Nhan Dan Online

Vietcombank’s profits in 9 months exceed entire 2017
Profits of the Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) by the end of September are estimated to exceed the VNÐ11 trillion (US$470 million) that the bank gained in the entire 2017.
— Viet Nam News

Analysis: Vietnam gasoline supply hike leads South Korea to shift focus to Mexico, Oceania
Vietnam’s growing self-sufficiency in auto fuel requirements following the startup of a new refinery complex at Nghi Son raised alarm bells among South Korean gasoline suppliers.
— S&P Global

Vietnam issues civil penalties for unsafe FCMs
The Vietnam Food Administration’s (VFA) Decree on the Provision on Civil Penalties for Food Safety Violations, issued in September, is to take effect on 20 October.
— Chemical Watch

VinFast uses one of the best engines in the world
The new VinFast cars, which are on display at the 2018 Paris Motor Show, offer a top-level engine that is comfortable and safe, saving fuel while minimising pollution.
— Vietnam Insider

Leadership key to business success in digital age
Leadership plays a key role in ensuring the successful operation of a business during digital transition, speakers said on October 3 at the “Industry 3.0 to Industry 4.0” forum held in HCM City.
— Bizhub

E-Mart to open first outlet in Hanoi
Opening at StarLake to join South Korean retailer’s HCMC outlet.
— Vietnam Insider

Banks expand networks to increase market share
Domestic banks have been enlarging their network of branches and transaction offices rapidly in recent years in an effort to increase market share.
— Viet Nam News

France’s Air Liquide interested in upgrade of Vietnam’s first oil refinery
French Ambassador to Vietnam Bertrand Lortholary affirmed that many French businesses are looking to cooperate and invest in Vietnam.
— The Hanoi Times

Foreign investment sky high in HCMC
For the last 30 years, foreign direct investment (FDI) has significantly contributed to HCM City’s economic-socio achievements. But how to continue attracting FDI and mitigating the problems related to the sector are moot questions for the city.
— Bizhub

Vietnam: End Repression Against Activists
Vietnam should drop politically motivated charges against five pro-democracy campaigners from a political group that challenges the Communist Party of Vietnam’s monopoly on power, Human Rights Watch said today. The government should immediately release them without conditions.
— Human Right Watch

Corporate culture crucial for sustainability in 4.0
During the era of Industrial Revolution 4.0, building corporate culture is mandatory if an enterprise wants to develop sustainably, said Viet Nam Chamber of Commerce and Industry (VCCI) Chairman Vu Tien Loc.
— Bizhub

Three Vietnamese caught in Cambodia with nearly half a kilo of meth
Preah Sihanouk Provincial Court of Cambodia on Tuesday charged three Vietnamese nationals with possessing and trafficking nearly half a kilogram of methamphetamine in the province.
— Vietnam Insider


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.

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Sreypov Men recently completed a course of study in International Relations at the Institute of Foreign Languages.

She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018

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