BUSINESS IN BRIEF 19/1

VIB posts strong profit growth in 2017, Vietnam runs a US$5.9 billion trade deficit with Southeast Asian countries, Aquatic export expected to hit 9 billion USD in 2018, Committee for state capital management to be founded in Q1

Finance Ministry backs down on VAT

 Fierce public objections about its proposal to impose value-added tax (VAT) on the transfer of land-use rights have forced the Ministry of Finance to shelve the move. 

Vietnam asks for impartial view on its human rights achievements

 Vietnam wants the international community to have an objective, comprehensive, and impartial view on its efforts and achievements in ensuring human rights, said Foreign Ministry Spokesperson Le Thi Thu Hang.

PM Nguyen Xuan Phuc to attend ASEAN-India Commemorative Summit

 Prime Minister Nguyen Xuan Phuc and his spouse will attend the ASEAN-India Commemorative Summit and the 69th anniversary of the Republic Day in India from January 24-26 as guest of Indian Prime Minister Narendra Modi.

Party, State leaders receive Indonesian upper house speaker

General Secretary of the Communist Party of Vietnam Central Committee Nguyen Phu Trong has urged Vietnam and Indonesia to step up bilateral cooperation in different fields as the two nations share many similar characteristics and interests.

Vietnam may lose national brands after SOEs are sold to foreign investors

Many Vietnamese businesspeople are concerned about the the sale of state enterprises to foreign companies which might eliminate their brands. 

Turpin case: California couple deny torturing 'shackled siblings'

 The parents accused of holding their 13 children in shackles at a California home have pleaded not guilty.

Holy See always wants stronger relations with Vietnam: official

Under-Secretary for the Holy See’s Relations with States Antoine Camilleri met with Prime Minister Nguyen Xuan Phuc and senior officials of Vietnam in Hanoi on January 18.

Deadly storm Friederike causes Dutch and German transport chaos

 Eight people including two firefighters have been killed in storm-related accidents as hurricane-strength winds tear across northern Europe.

Luminous murals beautify old residential zone

 The activity is aimed at creating art for a better community. The old walls are now decorated with paintings.

Government News 19/1

 Leaders congratulate on Vietnam-China diplomatic ties, NA Vice Chairman meets with Moroccan delegates, NA Vice Chairman greets Canadian parliamentarians, ARF workshop seeks to enhance maritime law enforcement

Inefficient State sector still hinders growth

 Poorly implemented economic reforms have left Vietnam with a distorted market still struggling to overcome the shadow of inefficient State-owned enterprises, an economist said on January 18.

Old book fair opens in Hanoi

 An exhibition of old books is being held during a fair in Van Lake at the Temple of Literature complex in downtown Hanoi between January 18 and 21.

AFC honours Vietnamese midfielder’s goal at U23 event

 The Asian Football Confederation (AFC) has announced the top five most impressive goals made in the qualifying round of the AFC U23 Championship finals in China.

Deadly synthetic drugs create many new addicts

 VietNamNet Bridge – Waking up after five days in a coma at Hanoi’s Bach Mai Hospital, a 16 year-old girl does not recognise anyone, not even her father.

Vietnam’s teenager falls in third round of Copa Del Café

 Vietnamese tennis player Nguyen Van Phuong was ousted from the third round of the Copa Del Café Junior Tennis Tournament in Costa Rica on January 17.

APPF-26 enters second working day in Hanoi

The 26th Annual Meeting of the Asia-Pacific Parliamentary Forum (APPF-26) will feature two plenary sessions on politics-security and economics-trade matters on January 19, the second working day of the event. 

Vietnam’s stocks rebound on bottom-fishing

Vietnamese shares bounced back on January 18 after the previous day’s sharp fall sent stocks down to attractive prices, thus triggering investors to bottom-fish.

The whirlwind of Thai investment in Vietnam

VietNamNet Bridge - Thai investors, who have been making huge investments in Vietnam, are expected to expand their investment in the country in the time to come. 

Economists remain cautious about Chinese capital flow

VietNamNet Bridge - Vietnam needs to be careful about using foreign capital, especially that from China, economists say.

The dual benefits of climate change solutions

Scientists from the Institute of Environmental Management Science have carried out research evaluating the dual environmental benefits brought by climate change adaptation solutions.

Vietnamese children forced to study too early: expert

VietNamNet Bridge - Many Vietnamese children are sent to classes by their parents at a very early age where they practice English, writing and basic math. 

Capital Economics: Growth to slow from 10-year high

Strong export demand will continue to drive growth in Vietnam during the forecast period of 2018 and 2019, but risks are starting to build as rapid credit growth is fueling vulnerabilities in the financial secto.

'Solar power fever’ breaks out in Vietnam

VietNamNet Bridge - A report from USAID found that by the end of July 2017 hundreds of solar power projects had been committed which have a total capacity of 17,000 MW.

EIB loans to help ease ODA departure

 While Vietnam will no longer receive preferential loans from the World Bank and the Asian Development Bank starting this year, the gigantic European Investment Bank is amplifying its presence in the country.