Vietnam Stresses Cooperation with Tokyo Gas, Fires Vice Trade Minister

Vice Minister of Industry and Trade Ho Thi Kim Thoa has been dismissed from her position. Photo: tienphong.vn

Vietnam PM Stresses Cooperation with Tokyo Gas

Prime Minister Nguyen Xuan Phuc stated that cooperation with Tokyo Gas Co Ltd is very important as oil and gas cooperation is one of the top priorities in Vietnam-Japan economic ties.

At a reception for the company’s President Michiaki Hirose in Hanoi on August 15, the PM called on Tokyo Gas to run long-term business in Vietnam, noting that the Vietnamese government always pays attention to and protects legitimate rights of foreign investors.

Vietnam Aims for Deeper Relations with Thailand through PM’s Visit

The official visit to Thailand by Prime Minister Nguyen Xuan Phuc from August 17 to19 is expected to deepen the two countries’ relations in various fields such as politics, security, defense, economics and trade, the Vietnam News Agency (VNA) reported.

Establishing diplomatic ties in 1976, Vietnam and Thailand elevated their relations to strategic partnership during the visit to Thailand by Party General Secretary Nguyen Phu Trong in June 2013, becoming the first two nations in ASEAN to set up a strategic partnership.

Vietnam Fires Vice Trade Minister amid Graft Crackdown

Prime Minister Nguyen Xuan Phuc in a decision signed on Wednesday dismissed Vice Minister of Industry and Trade Ho Thi Kim Thoa from her position for her alleged wrongdoing as the Communist Party of Vietnam steps up its crackdown on corruption.

The party’s Inspection Committee stated last month that Thoa had committed wrongdoing in buying and transferring shares of Dien Quang Lamp JSC while she chaired the firm.

Vietnam Ranks 87th Globally in Safety Index: Report

Vietnam's safety standards have been ranked 87th out of 187 countries and territories in the latest UL Safety Index released on Tuesday by Underwriters Laboratories, a global independent safety science company.

Despite being preventable, drowning was the top safety concern in Vietnam, followed by road accidents, the report said.

Vietnam-India Trade Posts Strong Growth

Vietnam’s total trade with India reached $4.24 billion in the first seven months of this year, representing an annual rise of 42.95%, data of the General Department of Vietnam Customs showed.

Of this figure, exports to India increased 34.1% year on year to $2 billion while imports stood at $2.24 billion, up 51.9%.

MobiFone Has New Chairman

Nguyen Manh Thang, a member of the management board of state-owned Vietnam Posts and Telecommunications Group (VNPT), has been appointed to chair MobiFone Telecommunications Corp after the post had been left vacant for two months.

South Korea Invests $2.7 Billion in Binh Duong

South Korea ranks third among the foreign investors in Binh Duong province as of June 30, with 619 projects worth approximately $2.69 billion.

The information was announced at a meeting between the People's Committee of Binh Duong province and South Korean investors on August 16.

In Response to Call, Insurer AIA to Buy More Vietnamese G-Bonds

Hong Kong-headquartered AIA Group Limited will continue to invest in Vietnam’s long-term government-bonds (G-bonds) and pay attention to life insurance in the Southeast Asian country, the group’s Chief Executive and President Ng Keng Hooi has stated.

At a meeting with Deputy Prime Minister Vuong Dinh Hue in Hanoi on Tuesday, Ng Keng Hooi applauded the Vietnamese government’s efforts to improve the local investment climate over the past years and described Vietnam as a promising market for financial investors.

Vietnam's Finance Ministry Proposes Hiking VAT to Ease Fiscal Burden

Vietnam’s Ministry of Finance has proposed increasing the general value-added tax (VAT) to 12% from 2019, from 10% currently, in a bid to ease fiscal burden and bring down public debt.

The ministry also laid out the possibility of a further rise in VAT to 14% starting 2021.

Vietnam Aims to Raise Size of Bond Market

The size of the Vietnamese bond market is aimed to reach 45% of the country’s GDP by 2020 and 65% by 2030, up from 36.9% in 2016.

Total outstanding corporate bonds will be equivalent to 7% of GDP by 2020 and 20% of GDP by 2030, compared to 5.27% in 2016, according to a government-approved master plan.

VinaCapital Disposes of Remaining Stake in Realty Project in Central Vietnam

VinaLand Limited (VNL), an AIM-listed investment vehicle run by management firm VinaCapital, has announced that it has divested its remaining stake in the My Gia project to a Vietnamese development company, following its partial divestment late in April.

The My Gia township development project located in the beach town of Nha Trang in the central province of Khanh Hoa and was acquired by VNL in 2008.

TUAN MINH