Industrial production index up 7.9 percent in 9 months

 Vietnamese Ambassador to the US Pham Quang Vinh emphasised the role of regional mechanisms in promoting trust building and cooperation in peace, stability and development in the region.

 The Party Central Committee (PCC) elected two additional members to the PCC Secretariat on October 6, the third working day of the PCC’s sixth plenary meeting in Hanoi.

 The Political Bureau has issued a warning as a disciplinary measure against the Standing Board of the Da Nang city Party Committee (2015-2020 term) for its serious rule violations and mistakes. 

 Prime Minister Nguyen Xuan Phuc has vowed that Vietnam always supports and creates all optimal conditions for foreign investors, including Samsung, to run business in Vietnam. 

More than 250 representatives from 20 member economies of APEC and observer organisations on October 5-6 examined venues for events during the upcoming APEC Economic Leaders’ Week in central Da Nang and Quang Nam. 

 Veteran Vietnamese bodybuilder Pham Van Mach won a gold medal at the ongoing World Bodybuilding and Physique Sports Championships in Ulaanbaatar, Mongolia.

 Member of the Party Central Committee and Transport Minister Truong Quang Nghia will take the position of Secretary of the Da Nang municipal Party Committee for the 2015-2020 tenure. 

Standard Chartered Bank (SCB) on October 6 increased its forecast for Vietnam’s GDP growth rate for the whole year to 6.8 percent, higher than the Government’s set target of 6.7 percent.

 Salary increases this year at both multinationals and major local companies have in general been higher than inflation rates, a survey by Mercer has found.

A Vietnamese delegation attended the third meeting in 2017 of the ASEAN Connectivity Coordinating Committee (ACCC) and related meetings in Manila, the Philippines from October 4-5. 

 Foreign investment capital continues to flow into the Vietnamese real estate market as foreign investors are actively acquiring suspended projects.

Despite a continued downturn in the mining sector, nine-month figures show Vietnam’s economy is on a good growth trajectory.

 Vietnam is pursuing sustainable development in the wave of the Fourth Industrial Revolution, with a focus laid on creating smart cities.

Vietnamese swimming enjoyed a fruitful 29th SEA Games, with young talents Nguyen Thi Anh Vien (21 years old), Nguyen Huy Hoang (17) and Nguyen Huu Kim Son (15) securing 10 gold medals and breaking five records.

It is no longer easy to sell goods via Facebook as sales are not high enough for many shops to cover expenses of ads. 

 Lotte Card’s purchase of TechcomFinance from Techcombank is considered a move to expand in Vietnam and break into the US$26.55-billion consumer finance market, which has been showing signs of rapid development.

 State employees and workers will likely be given seven days off during the forthcoming Lunar New Year holiday, or Tet holiday, from February 14 to 20, according to a proposal by the Ministry of Labor, Invalids and Social Affairs.

With a recent tax reform proposal coming from the Ministry of Finance, HSBC Economist Mr. Noelan Arbis tells VET that raising taxes, particularly VAT, is not a bad idea on the surface but the problem lies with its potential effect on growth.

 Bank points to rising exports and industrial production as well as a continuing strong tech cycle as pushing up growth.