Vietnam Morning News For September 27

Top 3 Vietnamese banks struggle to increase capital to meet global adequacy norms
Three top Vietnamese banks have been struggling to increase their capital to meet international adequacy norms.
— Vietnam Insider

Vietnam is now China’s top trading partner in ASEAN
The economic ties between China and Vietnam, including trade, investment and tourism, are booming. Eclipsing Malaysia, Vietnam is now China’s biggest trading partner in ASEAN.
— CGN (video)

Vietnamese fishocide caught on camera (video)
There was more than a little fishy business going on last week when a truck carrying a load of live fish in Vietnam ended up spilling its load all over the roadway resulting in a ‘fishocide’.
— AEC News Today (video)

Forestry exports reach US$ 6.64 billion
The export value of key forestry products is estimated at US$ 6.64 billion for the first nine months of the year, meeting 73.77% of the yearly plan and a rise of 14% annually.
— Nhan Dan Online

Vietnam to receive new generation of investors with free trade deal
A new generation of European investors, including those from Francophone countries, will enter Vietnam when the EU-Vietnam Free Trade Agreement (EVFTA) is approved.
— The Hanoi Times

Vietnam’s fruit and veg exports likely to exceed $4 billion
Thanks to an average monthly growth of over 14 percent, Vietnam’s fruit and vegetable exports are likely to surpass $4 billion this year. The Import-Export Agency under the Ministry of Industry and Trade stated that Vietnam earned $2.7 billion from fruit and vegetable exports in the first eight months of 2018, a year-on-year rise of 14.1 percent.
— Fresh Plaza

Thaibev to receive US$21.42 million in cash dividend from Sabeco
ThaiBev, which owns a 53.59% stake in Saigon Beer Alcohol Beverage Corp (Sabeco) through its local unit Vietnam Beverage, is expected to receive VND500 billion (US$21.42 million) of 2018 dividend in cash from Vietnam’s largest brewer.
— The Hanoi Times

Vietnam an important market, says US pork industry
Vietnam is an important market, the US National Pork Board has said. “Consumption of US pork here is on the rise, and this trip offers our industry leaders the unique opportunity to get in on the ground floor and build awareness for US pork and pork products with decision-makers,” Craig Morris, vice president of international marketing at the board, said.
— VietnamPlus

Low productivity poses risks to Vietnam economy
Vietnam’s low productivity growth remains one of the main challenges for Vietnam to achieve sustainable development, putting the country’s economy at risk of being left behind by regional competitors, said Nguyen Duc Thanh, director of the Vietnam Institute for Economic and Policy Research (VEPR).
— The Hanoi Times

Vietnam to feature among 5 fastest growing economies by 2030: HSBC
Vietnam, along with Bangladesh, the Philippines, Malaysia and Pakistan, are predicted to be the five fastest-growing economies out of 75 developed, emerging and frontier economies included in HSBC’s projection by 2030.
— The Hanoi Times

Three export commodities earn more than 20 billion USD
Three export commodities have earned Vietnam more than 20 billion USD in revenue each this year to September 15, according to latest statistics of the General Department of Vietnam Customs.
— VietnamPlus

VN fruits need to gain domestic market before exporting: experts
Viet Nam’s fruit sector should focus on gaining trust from domestic consumers before focusing on exports, said deputy general director of the Plant Cultivation Department under the Ministry of Agriculture and Rural Development (MARD) Nguyen Nhu Cuong.
— Bizhub

ADB lowers Vietnam 2018 growth outlook as U.S.-China trade spat lingers
Vietnam, one of the fastest growing economies in Asia, has an open economy that is heavily reliant on exports, while the United States and China are among its biggest trade partners.
— Reuters

Vietnam’s state lenders accelerate unwinding of crossholdings
Vietnamese banks are stepping up efforts to offload crossholdings in other lenders to meet an end-June deadline to comply with new regulations that came into effect in January.
— Nikkei Asian Review (paywall)

Fate of numerous loss-making projects remains uncertain
According to the latest information published by the Ministry of Finance, to date, two of the 12 loss-making projects, namely DAP 1 Haiphong fertiliser plant and the complex of Quy Xa iron ore mining and quarrying project and Lao Cai iron and steel plant, now operate at a profit.
— VietnamNet Bridge

Mobile World reports surging sales, expands fresh-food business
Mobile World says sales grew by 39 percent in the first eight months of the year to VND58.7 trillion ($2.5 billion).
— VnExpress

Nearly 67,000 investors victimized by fraud
Le Xuan Giang, chairman of the board of directors at Vietnam Trading-Links Production JSC, and his accomplices have been charged with defrauding and expropriating assets of 66,880 investors in 49 localities across the country, with total losses exceeding VND2 trillion, the local media reported.
— VietnamNet Bridge

Phu Quoc aims to become special economic zone
The Phu Quoc administration seeks to make the island a special economic zone, a local official said.
— Bizhub

More business startups focus on organic agriculture
An ecosystem for organic agriculture is taking shape in Vietnam, helping ease difficulties for startups in the field.
— Vietnam Insider

EC scraps warning against VN seafood
Viet Nam’s seafood industry will get a “green card” from the European Commission this year after succeeding in its efforts to fight illegal, unreported and unregulated fishing, but fishermen’s attitudes need to be addressed, a conference heard in HCM City on Tuesday.
— Bizhub

Officially: Dunkin’ dropping ‘Donuts’ from its logo
After months of testing a possible name change, Dunkin’ Brands is finally ditching the word “donuts” from the coffee chain’s branding and logo.
— Vietnam Insider

Actual FDI in Vietnam up 6% to US$13.25 billion in 9 months
As of September 20, disbursement of FDI projects jumped to US$13.25 billion, representing an increase of 6% year-on-year, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown.
— The Hanoi Times

What’s in a Canada Warship’s Vietnam Voyage?
This week, a Canadian warship paid a scheduled port visit to Vietnam. The visit, which came following several other such interactions involving major Asian states, highlighted Canada’s continuing efforts to boost security ties with Southeast Asian states such as Vietnam and further emphasize its role as a key defense player in the Asia-Pacific more broadly.
— The Diplomat

Hotels and resorts must go ’green’: experts
Hospitality property owners and developers in Viet Nam should apply green and sustainable architecture and design to respond to the effects of climate change, experts said at a hotel and resort conference which closed on September 25 in HCM City.
— Bizhub

Customs intercept smuggled new iPhones
The iPhones were brought in by four US nationals on US-Vietnam flights. They were unable to provide the required papers when asked. The 250 iPhones worth nearly VND7bn (USD300,000).
— Vietnam Insider

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.