Vietnam Morning News For September 24

Vietnam to hold two-day state funeral in tribute to President Tran Dai Quang
Vietnam has announced to hold a state funeral for President Tran Dai Quang, who passed away Friday, on September 26 and 27. President Quang died, aged 62, at the 108 Military Hospital in Hanoi on Friday morning, after fighting a serious illness for more than a year.
— Vietnam Insider

Vietnam to increase environment tax on fuel
The National Assembly’s Standing Committee decided at a meeting Thursday to hike the environment tax on fuel from next year.
— VnExpress

Work starts on US$49.75 million solar power plant in Long An
The European Plastic Joint Stock Company (Europlast) held a groundbreaking ceremony for the 50MWp Europlast Long An solar power plant in Duc Hue district’s My Thanh Bac commune in the Mekong Delta province of Long An on September 21.
— Nhan Dan Online

Dog thief arrested upon delivery to restaurants in Vietnam
Police in the southern Hau Giang Province arrested a man with four dogs he allegedly helped gun down on Saturday.
— VnExpress

E-commerce hits shopping centres but boosts office market in Vietnam
THE RAPID growth of online business has slowed the shopping centre real estate market; however, experts say it has also provided a boost for the office rental market.
— The Nation

Vietnam’s credit card market heats up with big players
Competition in the country’s credit card market has become stiffer as more big players join large domestic banks and finance companies in the race to gain shares in the potential market.
— The Hanoi Times

Seaports told to remove scrap containers
The Việt Nam Maritime Administration has ordered all seaport management agencies to quickly deal with the huge backlog of imported scrap containers across the country.
— VietnamNet Bridge

Vietnam posts record trade surplus of US$5.57 billion year to Sept. 15
Export value of the FDI sector as of September 15 reached US$118.81 billion, up 16.4% year-on-year or US$16.78 billion, accounting for 70.5% of Vietnam`s total export value.
— The Hanoi Times

Taking Vietnam’s aviation industry to greater heights
Vietnam’s aviation industry – both the international and domestic aviation market – is becoming one of the fastest-growing in the world, driven by surging tourism and the country’s strong economic performance.
— VietnamNet Bridge

Vietnam raises wind power price to encourage development
The Government has recently decided to increase price of wind power to encourage the development of this energy after eight years imposing the Feed in Tariff (Fit) of 7.8 US cent/kWh, which is said to be too low for investors to overcome perceived risks.
— VietnamPlus

Vietcombank to cut stake in Eximbank
The Joint Stock Commercial Bank for Foreign Trade of Viet Nam (Vietcombank) has offered to sell 45.6 million shares it is holding in the Viet Nam Export-Import Joint Stock Commercial Bank (Eximbank).
— Bizhub

Vietnam c.bank approves 10% increase in Vietcombank’s charter capital
Vietcombank, Vietnam`s largest lender by market value, is allowed to increase its charter capital from VND35.97 trillion (US$1.55 billion) to VND39.57 trillion (US$1.7 billion) by selling 10% stake to foreign investors.
— The Hanoi Times

SBV refuses to lift credit growth ceiling, but banks remain optimistic
The State Bank of Vietnam (SBV) may not approve the commercial banks’ proposal on lifting the credit growth rate ceiling, but banks still believe they will be able to fulfill their yearly business plans.
— Vietnam Insider

Investors set ambition in Vietnam’s drug distribution system
More investors have planned to take part in the country’s medicine retail system through merger and acquisition (M&A), expecting to gain higher value from owning completed chains from production to distribution.
— The Hanoi Times

Hi-tech in aquaculture needed: experts
The use of modern technologies in aquaculture would ensure sustainable development, experts said at a conference on water monitoring systems in HCM City on Thursday.
— Bizhub

Vietnam faces challenges in restructuring national finance
The process plays a key role towards rapid, inclusive and sustainable development of Vietnam`s financial sector.
— The Hanoi Times

Celebrating its 30th anniversary, Vietnam’s Leading IT Services Company wants to become the global leader in Digital Transformation
FPT, the largest IT services company in Vietnam was chosen as the Digital Transformation service provider on Carlsberg’s Manufacturing Execution System (MES), helping Carlsberg to optimize the manufacturing process and maximize production output.
— AEC News Today/ PR Newswire (media release)

Vietnam Vinalines offers 483 million shares left from underperforming IPO
The registration period of purchasing the said amount share is scheduled from September 20 to September 30, 2018.
— The Hanoi Times

Banks recover bad debts as collateral liquidation simplified
The National Assembly’s Resolution 42/2017/QH14 on dealing with bad debts of credit institutions seems to have created a more efficient mechanism for disposing of collaterals to recover bad debts.
— VnExpress

VCCI envisions an ASEAN startup network
The Vietnam Chamber of Commerce and Industry feels a network of businesses, especially startups, will catalyze regional growth.
— VnExpress

Foreign investors make beeline for Vietnam’s food sector
The country’s food industry has lured foreign investments, especially through merger and acquisition (M&A), thanks to its large population and growing consumer demand fueled by the rapid growth of the middle class.
— The Hanoi Times

Vietnam’s Auditor General highlights connectivity in ASOSAI
Auditor General of the State Audit of Vietnam Ho Duc Phoc has highlighted the importance of connectivity to bring added values to supreme audit institutions in an interview recently granted to the media.
— VietnamPlus

Pilot shot down over Vietnam to be buried in Rhode Island
A U.S. Air Force pilot whose plane was shot down over Vietnam more than half a century ago will be buried will full military honors in Rhode Island.
— News & Observer

Japan NSSBC buys 10.5% stake in Vietnam steel processor QH Plus
Vietnam`s consumption of construction steel was expected to continue growing, and the market was attractive to investors.
— The Hanoi Times

Ha Noi’s lucrative property market attracts foreigners
Ha Noi expects to attract more foreign buyers on its real estate market as a rising number of foreign experts and entrepreneurs are working in the capital city.
— Bizhub

Vietnam active in smart cities
A white paper recently published by Asia-focused management consulting firm Solidiance highlights key initiatives taken by Vietnam to develop smart cities in Ho Chi Minh City and Hanoi.
— Vietnam Insider

Better, universal payment system needed for public transit: experts
A contactless payment system for public transport in HCM City could save costs and increase customer satisfaction, experts said at a conference on modern payments systems for public transit on September 21.
— VietnamPlus

PM Phuc hails WFTU’s support to Vietnam
Prime Minister Nguyen Xuan Phuc on September 23 said the Party, State, people and workers of Vietnam always treasure, be grateful to and highly value the great support and important contributions rendered by the World Federation of Trade Unions (WFTU) to Vietnam during the wars of resistance for national independence and the national construction and defence.
— Nhan Dan Online

Royal battle rages in Vietnam as Coffee King ousts Queen again
The CEO of Trung Nguyen has dismissed his estranged wife as the group’s deputy general director yet again.
— VnExpress

Africa – promising market for Vietnamese goods
With a population of 1.2 billion and a high economic growth rate in recent years, Africa is a promising market for Vietnam, according to the Vietnamese trade counsellor in charge of several African countries.
— VietnamPlus

Feature photo GodImage

This week’s Vietnam morning news feature photo acknowledges the Mid-Autumn Festival on September 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).

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.