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Morning Digest
Sunday,  Jun 10, 2018,09:33 (GMT+7)

Morning Digest

PM Nguyen Xuan Phuc speaks at a roundtable meeting between Vietnamese and Canadian enterprises during his visit to Canada – PHOTO: TTXVN

Vietnam woos Canadian firms with its equitization of SOEs

Vietnam is speeding up the equitization of State-owned enterprises (SOEs) in the fields of aviation, electricity, petroleum, telecommunications, and transport infrastructure. This is a good opportunity for investors, including those from Canada, to become strategic partners or shareholders of such SOEs by buying their shares, said the Prime Minister.

Nguyen Xuan Phuc delivered the statement while he was addressing a roundtable meeting between Vietnamese enterprises and their Canadian counterparts within the framework of his visit to Canada and his participation in the Outreach Session of the Group of Seven (G7) Summit, Tien Phong newspaper reports.

Key socio-economic issues translated into Gov’t resolution

Fighting loan sharks that offer informal credits, replenishing foreign exchange reserves, further lowering toll fees on roads developed under the build-operate-transfer format, as well as inspecting the management and use of State funds are key contents of a newly-issued resolution after a regular Government meeting in late May 2018, according to a VnEconomy news website report.

Industrial production suffers slowdown in May

The sectors of agriculture and fisheries had positive signs, thanks to favorable weather conditions and strong external demands in the year to late May, Lao Dong newspaper reports, citing an update on the Vietnamese economy by Saigon Securities Inc.

However, the industrial production sector suffered a slowdown, due to the United States’ new tariff policies which result in decreasing outputs of foreign electronic giants such as Samsung and LG in Vietnam. The country’s May index of industrial production was at the lowest growth rate in the past four years.

Household businesses reluctant to turn into enterprises

Over 3,000 family-run businesses operational in HCMC have upgraded themselves into companies after more than one year upon a policy by municipal authorities encouraging them to do so.

This number is still quite modest given the total number of active household businesses at up to 250,000 units, said Le Duy Minh, deputy director of the municipal Tax Department, at a function on June 9. Many small businesses reportedly have hesitated to turn into companies as they have to pay more taxes or social insurances, Tuoi Tre Online reports.

GAZ seeks to tap into local auto market

The Russian automotive manufacturer GAZ will further penetrate into the Vietnamese market by establishing a joint venture to distribute its autos in the country, VietnamPlus reports.

At Vietnam AutoExpo 2018 taking place in Hanoi City, Christian Kremer, Senior Vice President of Global Sales & Marketing at GAZ, said that Vietnam is a potential market with high auto consumption in the coming time, adding that the company is bracing for full-steam operation in Vietnam.

Kristina Dubinina, head of sales in Asia of GAZ, said that the exhibition has seen local customers’ strong interests in the GAZ products, so GAZ will join the market soon and then execute its vehicle-assembling plan.

Blockchain can advance various industries in Vietnam

Blockchain technology, which is predicted to bring big changes to lives in the coming years, can be used across sectors in Vietnam like agriculture, logistics and finance, heard a blockchain summit on June 8.

The application of blockchain is often mentioned by technological firms, solution providers and experts, but not many true stories have been told.

 

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