Vietnam Morning News For June 28

Vietnam aims for 6.8% GDP growth in 2020
Vietnam will strive for a GDP growth of around 6.8% in 2020, according to Directive 16/CT-TTg on the building of socio-economic development plans and State budget estimates for 2020.
— NDO

Infrastructure perfection urged to boost investment attractiveness
Vietnam needs to swiftly perfect its infrastructure to meet growing development requirements as well as foreign investors’ demand, especially when it is expected to become the most attractive investment destination in the region, heard a forum in Hanoi on June 26.
— VietnamPlus

Vietnam eager to work with Japan to help fill labor gap under new visa program
Vietnam is eager to deepen its cooperation with Japan in the field of labor dispatch, Vietnamese Prime Minister Nguyen Xuan Phuc has said.
— Japan Times

The rise and rise of a Vietnamese corporate empire
Several weeks ago, I travelled east from Hanoi, through industrial estates and rice paddies, to the port of Haiphong in northern Vietnam. My driver took me over a causeway to Cat Hai Island, where something big is taking shape: the building of Vietnam’s first “national car” brand, VinFast.
— Financial Times

Suntory joins rival Coca Cola to push Vietnam on plastic recycling
Japanese beverage giant Suntory Holdings says it will work with rival Coca-Cola as well as Nestle to push the government in Vietnam, among the biggest contributors to plastic waste in the ocean, to create a large-scale recycling system.
— Japan Today

ODA disbursement alarmingly slow: Finance Ministry
Vietnam’s disbursement of official development assistance is yet to reach half of the amount planned for 2016-2020, says the Ministry of Finance.
— VnExpress

Big challenges hinder Việt Nam’s largest infrastructure project
The Hà Nội-HCM City high speed rail project will benefit the country’s economy, but there are several challenges to implementation of the mega project, including financing, attracting private sector interest and a weak business case.
— Viet Nam News

Vietnamese overseas investment hits nearly $200m
Of the total, more than $100 million came from 71 newly-licensed projects while the remainder came from 19 others which raised their capital by $96 million.
— Viet Nam News

Vietcombank, JBIC sign contract for renewable energy projects
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) and the Japan Bank for International Cooperation (JBIC) have signed a 200 million USD credit contract to finance renewable energy projects in Vietnam.
— VietnamPlus

Da Nang considers bike rental service
The Transport Department of Danang City has considered a pilot bike rental service at the city centre.
— Vietnam Insider

Vietnam start-up Bamboo Airways eyes first direct flight to US
Start-up carrier Bamboo Airways intends to launch Vietnam’s first direct flights to the US by early next year on a leased Airbus A380, signalling the ambition of the newest entrant to one of Asia’s fastest-growing aviation markets.
— Financial Times

Vietnam, Japan enjoy growing trade relations
The trade relations between Vietnam and Japan have been growing since the establishment of bilateral strategic partnership in 2009, then elevated to comprehensive strategic partnership in 2014.
— VietnamPlus

Singaporean ship sinks Vietnamese fishing vessel
A Vietnamese fishing vessel was rammed and sunk by a Singaporean vessel last Saturday, but its crew were later rescued.
— VnExpress

Vietnam fails on animal care standards
An Australian animal welfare regulator-led investigation into treatment of the nation’s live-stock abroad has exposed Vietnam for breaching tough Federal animal welfare standards.
— The West

Conference discusses Vietnam’s agricultural opportunities, challenges when joining EVFTA
A conference was held in Hanoi on June 26 to discuss the impact of the EU-Vietnam Free Trade Agreement (EVFTA) on Vietnam’s agriculture.
— NDO

Vietnam, Mozambique seek to enhance trade, investment, tourism ties
Over 100 representatives of Vietnamese and Mozambican businesses gathered at a forum in Maputo on June 26 to seek stronger links in trade, investment and tourism between the two countries.
— VietnamPlus

Vinalines moves shareholders’ meeting to end of July
The Vietnam National Shipping Lines (Vinalines) will delay its annual shareholders’ meeting until July 29, one month later than expected.
— Viet Nam News

Alliex Holdings to pour $721m into Việt Nam’s POS infrastructure
South Korea’s Alliex Holdings plans to invest US$721 million in point-of-sale (POS) infrastructure in Việt Nam in the next five years.
— Viet Nam News

Vietnamese firms hit with Industry 4.0 warning
Business can grow quickly if they stay up to date with technology, but they risk falling behind if they stay stuck in the past, an expert has said.
— Viet Nam News

Top 50 most effective businesses in Vietnam honoured
The Vietnam Investment Review in collaboration with Thien Viet Securities Company (TVS) organised a ceremony to honour the Top 50 most effective businesses in Vietnam (Top 50), in Ho Chi Minh City, on June 27.
— NDO

Blue chips drag markets down
Shares tumbled on Thursday on low liquidity due to profit-taking pressure, moving in reverse to regional markets.
— Viet Nam News

Mercedes-Benz VN recalls more than 1,600 cars
Mercedes-Benz Việt Nam is recalling 1,648 vehicles over a steering gearbox issue.
— Viet Nam News

Australian bank’s representative office licence withdrawn
Governor of the State Bank of Việt Nam Lê Minh Hưng has issued a decision withdrawing the business licence of the National Australia Bank Limited’s representative office in Hà Nội.
— Viet Nam News

EVN supports for one price at 9.35 US cents for rooftop solar power
HÀ NỘI – Electricity of Việt Nam (EVN) has agreed with continuing the current FiT rate at 9.35 US cents/kWh for rooftop solar power projects nationwide until 2021 as proposal of the Ministry of Industry and Trade (MoIT).
— Viet Nam News

Business environment needs strong Gov’t actions: VBF 2019
The Vietnamese economy will grow faster if private companies thrive, but development should be sustained, transparent and secure, heard a meeting on Wednesday.
— Viet Nam News

Are foreign degrees all they’re cracked up to be in Vietnam?
When it comes to well-paid and fulfilling careers, are foreign degrees really the answer many advocates believe it to be?
— Study International

VN vows to facilitate bilateral ties with Mozambique
The Vietnamese Government will continue to support the operation of businesses from Việt Nam in Mozambique to reinforce the bilateral partnership and capitalise on their potential and advantages, Vietnamese Ambassador to Mozambique Lê Huy Hoàng said.
— Viet Nam News

Asanzo chairman admits company’s products not ‘Vietnam-originated goods’ as claimed
The chairman of a Vietnamese electronics maker that has been selling finished products imported from China and devices assembled from Chinese parts under the guise of ‘Made in Vietnam’ goods, has admitted that the company’s goods are “not Vietnamese” as it has claimed them to be.
— Vietnam Insider

PetroVietnam has new CEO after two-month vacancy
The new CEO has expertise in petrochemical and organic synthesis technology and was appointed as Deputy General Director of PVN in 2013.
— The Hanoitimes

Viglacera says earnings better than expected this year
Increasing demand for green, environmentally-friendly materials and devices may help Viglacera earn higher-than-expected pre-tax profits this year.
— Viet Nam News

Vietnam to place 5-year driving ban on cheating drivers
Vietnam will impose a five-year driving ban on drivers who try to cheat in driving tests or buy fake driving licenses, starting from September this year, local media reported on Thursday.
— Xinhua

ASF Vietnam: Commercial farms hit; higher pork import prices
No longer is African Swine Fever (ASF) a problem that is only hitting pigs in villages in Vietnam. It has also started hitting large-scale industrial farms in the country, according to the Vietnamese authorities.
— Pig progress

Four international exhibitions open in HCM City
Four international exhibitions in the paper, rubber and tyre, coatings, and plastic industries opened in HCM City on June 26.
— Viet Nam News

Foreign visitors to Ho Chi Minh City up 10.1% in first half of 2019
Ho Chi Minh City welcomed around 4.2 million foreign visitors in the first half of this year, up 10.1% year-on-year, according to the city’s Tourism Department.
— Vietnam Insider

Japan, Not China, Is The Biggest Investor In Southeast Asia’s Infrastructure
Japan is ahead of China in the Southeast Asia. In building the region’s infrastructure, that is.
— Forbes

Vietnam might be Donald Trump’s next trade war target
In an a wide-ranging—and what some deemed unhinged and rambling—interview with Fox Business Network yesterday (June 26), US president Donald Trump talked about everything from Google, the Fed, migrants, Europe, and former vice president Joe Biden. He also turned his fire on Vietnam.
— Qz

Việt Nam’s agricultural sector to face fierce competition
Local firms are set to face fierce competition from EU imports thanks to two upcoming agreements between the two sides.
— Viet Nam News

Fansipan peak found to be 4m higher than old measurement
The height of the Fansipan peak in the northern mountainous province of Lao Cai, the highest mountain in Indochina, was actually 3,147.3 metres, according to the Department of Survey Mapping and Geographic Information under the Ministry of Natural Resources and Environment.
— NDO

Prompt actions urged to control invasive alien species
The Ministry of Natural Resources and Environment (MoNRE) has called for prompt actions by ministries and sectors to control invasive alien species (IAS), some of which have entered Vietnam’s natural environment and caused serious consequences.
— VietnamPlus

Three drug traffickers sentenced to death
The Hà Nội People’s Court sentenced three members of a drug gang to death for the illegal trade and trafficking of drugs on Tuesday.
— Vietnam Insider

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