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(4-6) THỜI SỰ

(7-12) SỰ KIỆN - VẤN ĐỀ

(13-15) CHÍNH SÁCH

(16-23) QUỐC TẾ HỘI NHẬP

(24-27) ĐẦU TƯ - TÀI CHÍNH - NGÂN HÀNG

(28-29) THỊ TRƯỜNG

(30-33) SỐNG

(46-55) DOANH NGHIỆP - DOANH NHÂN

(56-61) KHOA HỌC - CÔNG NGHỆ

(62-63) TỰ HÀO HÀNG VIỆT NAM

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(36-37) FEATURES Vietnam’s economic outlook brightens

(38-39) NEWS Government resolution eyes business environment

improvement

VCA begins investigation into Grab-Uber merger

(40-41) INVESTMENT & FINANCE 2019: Vietnamese exporters to EU must self-verify origin

(42-43) INTERNATIONAL & INTEGRATION Improving product quality, added value to access the US

market

(44-45) MARKETS New regulations to improve Vietnam commodity exchange

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NGÀY BÁO CHÍ CÁCH MẠNG VIỆT NAMNGÀY BÁO CHÍ CÁCH MẠNG VIỆT NAM

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FEATURE

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VIETNAM’S ECONOMIC

OUTLOOK BRIGHTENS


OUTLOOK BRIGHTENS

FEATURE

At a conference in Hanoi on May 15 on the Vietnamese economy’s outlook for 2018 and to 2020, Minister of Planning

and Investment Nguyen Chi Dung highlighted the good socio-economic performance in the first months of 2018, especially a GDP growth of 7.38 percent, the highest rise of the first quarter in 10 years. The macro-economy was kept stable, and inflation was under control.

Consumer price index (CPI) in the first four months of 2018 remained at a low level, having increased by 2.8 per cent. The money market

liquidity and banking system are stable and ensured.Disbursed FDI reached US$5.1 billion, up by 6.3 per cent from 2017’s first quarter, along with more than 41,200 newly established enterprises with a total registered capital of about VND412 trillion ($18.2 billion).Total export turnover is estimated at $73.76 billion for 2018’s first quarter, up by 19 per cent year-on-year, with trade surplus around $3.39 billion.Positive socio-economic signs in the first months


OUTLOOK BRIGHTENSVIETNAM’S ECONOMIC PROSPECTS FROM 2018 TO 2020 IS LOOKING UP, AS THE INTERNATIONAL COMMUNITY ACKNOWLEDGES AND APPRECIATES THE COUNTRY’S ROLE AND RESPONSIBILITY IN INTEGRATING AND IMPLEMENTING INTERNATIONAL ECONOMIC COMMITMENTS.

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of 2018 have made economist optimistic about the Vietnamese economy’s outlook for the whole year as well as until 2020. The country also saw its ranking enhanced in many fields, including business environment, competitiveness and innovation.The minister added that domestic reform policies have begun to show their good effects, while free trade agreements and the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) are expected to bring positive effects. “There are many reasons for us to believe in the growth prospects of the Vietnamese economy in the rest of the years and the years to come,” stressed Mr. Dung. President of the Vietnam Association of Foreign Invested Enterprises (VAFIE) Nguyen Mai held that foreign investment (FDI) has played an important role in the Vietnamese economy. Last year, the FDI disbursement reached a record figure of 17.5 billion USD. He predicted that FDI disbursement this year may hit 19 billion USD.

Meanwhile, Mr. Warrick Cleine, President and General Director of KPMG Vietnam asserted that foreign investors are becoming more confident in the Vietnamese economy.A number of forecasts of international organisations put the country’s average GDP growth in the 2018-2020 at around 6.85 percent and even 7 percent in some years.However, Minister Nguyen Chi Dung said the Vietnamese Government has been highly aware of the possible impacts by the economy’s internal problems and outside influence. The country aims for fast and sustainable economic growth on the basis of making full use of humankind’s science-technology advances, especially from the 4.0 industrial revolution, towards the goal of a modern industrialized country with an advanced market economy.He also highlighted the need for joint efforts of all sectors at all levels as well as all economic players in maintaining the growth trend not only in 2018 but in following years

FITCH RAISES RATING FOR VIET NAMFitch Ratings has upgraded Vietnam’s sovereign rating based on the country’s rising foreign exchange reserves and strong economic growth.Bloomberg cited Fitch’s announcement on May 15 that shows that the rating on the nation’s long-term, foreign currency-denominated debt was raised one level to BB, with a stable outlook. The upgrade puts Việt Nam at the second-highest speculative grade on a par with Costa Rica.The rating agency also predicted that Việt Nam’s foreign reserves will increase to some US$66 billion by the end of this year from $49 billion in 2017, while the general government debt is likely to decline to below 50 per cent of the gross domestic product (GDP) by 2019.According to Fitch, the country’s economy can expand 6.7 per cent this year. Most economic forecasts since early April said Việt Nam’s GDP growth would be 6.5 per cent or higher in 2018. In an annual credit analysis released on April 3, Moody’s Investors Service said Vietnam’s real GDP growth would remain robust, averaging 6.7 per cent. Meanwhile, World Bank on April 12 predicted Vietnam’s economic growth to stabilise at some 6.5 per cent in 2018. The International Monetary Fund projected Vietnam’s economy to grow by 6.6 per cent this year and 6.5 per cent in 2019 in its report “World Economic Outlook, April 2018”. Vietnam’s economy enjoyed a strong economic expansion of 7.38 per cent in the first quarter of this year, the best first-quarter performance in the last decade, according to the General Statistics Office.

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NEWS

Government resolution eyes business environment improvement

The Vietnamese Government has issued a resolution on continuing with solutions and tasks

to improve the business environment and increase national competitiveness in 2018 and beyond.

The resolution aims to improve indexes related to the business environment in order to jump 8-18 steps from the current 68th place the in World Bank’s Doing Business Rankings, with the focus on low-rated indexes.Specifically, the country will try to move up at least 40 places in the index of Starting a Business, 10 places in Enforcing Contracts and 10 places in Resolving Insolvency.Under the document, half of business and investment conditions will be eliminated or simplified, while the number of commodity types subject to specialised

inspections will be reduced by at least 50 percent. State management will be shifted from pre-inspection to post-inspection. Additionally, products will be no longer be managed by more than one agency. The rate of import goods subject to specialized customs check will be reduced from the current 25-27 percent to under 10 percent. The resolution requires hastening the application of information technology in handling administrative procedures, including online public services.The Government asked Ministers and Chairpersons of People’s Committees of provinces and centrally-run cities to build action plans on carrying out the resolution before May 31, and to direct the implementation of measures to improve the business climate and competitiveness

The World Bank and Vietnam’s Ministry of Transport have launched the Vietnam Logistics

Statistical System Project.

Designed to establish a national system for collecting, processing and publishing transport and trade logistics statistics annually, the project is part of the World

Bank’s support to the Vietnamese Government’s integrated programme for trade facilitation and logistics development.Financed by the multi-donor Trust Fund for Statistical Capacity Building and managed by the World Bank, the project also provides support for project implementation, through a partnership between the World Bank, the International Transport Forum, the Organisation for Economic Cooperation and Development and the Australia-World Bank Partnership Programme. In 2016, Vietnam ranked 64th out of 160 countries in the World Bank’s Logistics Performance Index and fourth in ASEAN after Singapore, Thailand and Malaysia.Vietnamese firms mainly provide domestic logistics services such as transport service, airport, seaport and warehouse services and cargo loading and unloading services.Few firms provide international logistics services through acting as agents for foreign enterprises

The Vietnam Competition Authority (VCA) under the Ministry of Industry and Trade issued a decision

on May 18 on its official probe into ride-hailing company Grab’s takeover of Uber Technologies’ Southeast Asia business.

It said the investigation will take 180 days and could be extended by up to 120 days.The VCA said earlier this week its initial 30-day probe suggested Grab’s acquisition of Uber could have violated the Competition Law. The preliminary investigation focused on contents of the investigated parties, relevant markets, concentrated market shares and signs of violations.Uber and Grab announced a deal in March under which Uber would take a 27.5 percent stake in Grab in exchange for its Southeast Asian business.The VCA sent a dispatch to Grab requesting information and documents related to the acquisition.The VCA held a working session with Grab’s legal representative on April 6, but the firm failed to provide evidence proving its claim.According to the Ministry, if the concentrated market

share of parties accounts for 30 to 50 percent in the market without announcement to VCA before their acquisition, the firms will be fined 10 percent of their total revenue in the previous financial year. If the rate is more than 50 percent, the transaction will be prohibited from being completed

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VCA begins investigation into

Grab-Uber merger

World Bank helps Vietnam develop logistics system

NEWS

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INVESTMENT & FINANCE

With the aim of integrating further into the global economy, Vietnam has joined many free trade agreements (FTAs) that have the

self-certification mechanism of origin.

Self-certification of origin is a mandatory requirement of the EU for some countries, including Vietnam.The Import and Export Department under the Ministry of Industry and Trade said under the requirement, the responsibility for verifying product origin will be shifted from authorities to enterprises or exporters.Enterprises will have to perform all the steps themselves, meeting the requirements of product origin and be accountable for their accuracy.

At the same time, it reduces the risk of licensing authorities and minimises the burden on customs.According to trade experts, this mechanism offers many benefits in terms of reducing time and cost of transaction, actively issuing commercial invoices, and helping businesses to know commitment on rules of origin in the FTA.Vietnam currently has 2,700 Vietnamese enterprises exporting to the EU that enjoy the benefits of GSP and it will be quite a rush to force enterprises with self-certification of origin from early 2019, according to the ministry.The only difference is that instead of the authorities, the enterprise will issue its own C/O by including

Vietnamese exporters to EU

MUST SELF-VERIFY ORIGIN

2019:

Vietnam’s exporters must self-verify the origin of their products that

they export to the European Union (EU) from 2019 to be qualified for Generalised System of Preferences

(GSP) which is the tariff preference for developing countries.

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The Prime Minister’s working group has asked the ministries of Finance and Planning and Investment

to swiftly lift the foreign ownership limit of 49 percent at enterprises where foreign investment is not restricted.

The request for removing the foreign ownership restriction at certain businesses is mentioned in a report of the PM’s working group on the implementation of the assignments given by the Government to ministries and agencies and on results of inspections last month.From January 1 last year to April 30, the Government assigned ministries, agencies, cities and provinces more than 26,700 tasks, of which nearly 15,900 have been completed.Particularly, ministries of Finance, Industry and Trade, and Agriculture and Rural Development have so far cut numerous business conditions.The PM’s working group said it conducted inspections at the Ministry of Finance and Vietnam Cement Industry Corporation (VICEM) in April.Accordingly, the group concluded that the Ministry of Finance has accomplished 1,340 out of nearly 1,600 assigned tasks. However, many business conditions for enterprises under its management still overlap and are unreasonable, so the ministry plans to simplify or abolish 188 of 370 conditions.

In addition, the ministry is told to impose strict sanctions on officials found to harass businesses, and direct the General Department of Taxation and the General Department of Customs to lower tax debts to below 5 percent of State budget revenue.The ministry must also complete the drafting of a law amending tax regulations to support enterprises, ensure sufficient tax collections and propose new tax policy for small enterprises, especially those converted from household businesses.Meanwhile, the inspection at VICEM found that the corporation has grown strongly, and secured a domestic market share of 35-36 percent. It has created jobs for a huge number of workers, and contributed significantly to the country’s socio-economic development.However, VICEM must handle its shortcomings in some investment projects, the shift to advanced technology, land and property management and cooperation with other firms to make use of by-products of the sector

Ministries urged to

swiftly lift the foreign

ownership limit

the line “this product is qualified for GSP” in their document and invoice.Enterprises becoming self-certifying exporters shows the trust of government agencies in businesses, in compliance with Vietnam’s commitment to the FTA, said Mr Tran Thanh Hai, Deputy Director of the Export and Import Department.Vietnamese businesses will have around six months of transition time to reduce the burden on them. During this time, if enterprises are unable to self-verify the origin of their products, they can apply for certification of origin from the Vietnam Chamber of Commerce and Industry (VCCI) and the Ministry of Industry and Trade as usual.The ministry will still train, instruct and remain a place for business registry. In case any issue arises in the trading process, the agency will have information to collaborate with the EU to determine the source of goods and enterprises.

When businesses self-certify the origin of their products, they are acting on the government’s behalf.Experts said that if businesses do not comprehend the mechanism and the necessary requirements that can result in false certification, the outcome would not only affect the businesses but also to the whole nation.He said the ministry would assist enterprises by organising seminars that would provide information on the self-certification mechanism of origin and the training courses for enterprises in self-certifying the origin of goods.At present, the ministry has concentrated on developing a circular guiding enterprises to self-certify the origin of goods exported to the EU. After the issuance of the circular, the ministry will cooperate with the VCCI, the associations and branches as well as the enterprises to provide training courses and guidance that would help them certify their origin quickly and accurately

INVESTMENT & FINANCE

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INTERNATIONAL & INTEGRATION

The two economies have supplemented each other, Deputy Minister Do Thang Hai said,

adding that while Vietnam has demand for machinery, hi-tech, aviation, telecommunications equipment, and agricultural products used for production, the US is keen on importinge farm produce, apparel, leather and footwear, and electronic products.

However, products with high added value or luxury consumer goods have accounted for an inconsiderable proportion among Vietnam’s exports to the demanding market.

According to experts, each US state has different laws and regulations apart from the federal laws so that Vietnamese exporters need to grasp them before doing business. Additionally, the US has issued new and strict regulations and standards on food quality, safety and origin, especially for imported agro-forestry-aquatic products. Mr. Chu Thang Trung, Deputy Director of the Ministry of Industry and Trade’s Trade Defence Department, said the US has enhanced protectionism measures

IMPROVING PRODUCT QUALITY, added value to access the US market

AT THE VIETNAM-US BUSINESS

FORUM HELD IN HO CHI MINH CITY, DEPUTY MINISTER OF INDUSTRY AND TRADE DO THANG

HAI SAID TWO-WAY TRADE BETWEEN

VIETNAM AND THE US SURGED 47-FOLD FROM 220 MILLION USD IN

1994 TO NEARLY 51 BILLION USD IN 2017.

VIETNAM IS NOW THE 16TH LARGEST TRADE PARTNER OF THE US WHILE THE

US HAS BECOME VIETNAM’S TOP

TRADE PARTNER IN THE PAST DECADE,

HE SAID.

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Officials from the Ministry of Industry and Trade and the Cambodian Ministry of Commerce have

discussed ways to speed up the construction of Da market - the first model border one between Viet Nam and Campuchia - scheduled to be completed at the end of 2018.

The two sides discussed issues relating to the organisation of a conference developing border trade in 2018-2019 in Cambodia this year and the implementation of a project developing border trade through 2025 with a vision for 2035.They agreed that the bilateral trade relations particularly through border have witnessed remarkable strikes, contributing to socio-economic development in each country as well as reinforcing the friendship and cooperation between two countries in general.The two ministries said they will propose the building of more border markets as part of the cooperation programme between their governments and present this plan at the 16th meeting of the Vietnam-Cambodia Joint Committee on Economic, Cultural and Scientific-Technological Cooperation in Ha Noi.They held that relating the conference on developing bilateral border trade in 2018-2019, Cambodia’s Ministry of Commerce will send a diplomatic note to Viet Nam informing the specific time, location and relevant expenses of the event.On the project on Viet Nam-Cambodia border trade

development to 2025 with a vision to 2035 drafted by the Vietnamese Ministry of Industry and Trade, Minister Pan Sorasaksaid Cambodia will study the project and exchange with Viet Nam so that the two sides can complete a draft one soon and sign for approval.The two sides are maintaining good neighbourhood, traditional friendship and all-around cooperation. Last year’s bilateral trade hit US$3.8 billion, up 25% over a year earlier.The two countries are destined to promote border trade activities towards US$5 billion bilateral trade target in the coming time

for domestic manufacturing and limited imports in recent years. According to Mr. Trung, the number of US lawsuits regarding anti-dumping and anti-subsidy on many countries’ goods has doubled to over 100. For Vietnam alone, the US launched legal proceedings against 25 cases involving aquatic products, steel nails and clothes hangers. He said almost Vietnamese firms are small and medium-sized with little experience in trade defence so that they will incur high costs or even risk losing the market if being sued. Ms Dinh Thi Huong Nga, from the Handicraft and Wood Industry Association of Ho Chi Minh City, said Vietnam’s wooden furniture exports to the US surpassed 3 billion USD last year, accounting for 40

percent of Vietnam’s total, mostly those in medium segment. General Secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP) Truong Dinh Hoe said stricter standards on food quality and hygiene safety will force Vietnamese exporters to improve quality to overcome technical barriers. Mr. Trung urged firms in the same sector to foster connectivity and jointly cope with trade contingencies. In policy terms, the government and trade representative agencies need to devise specific strategies to negotiate with authorities while enhancing warnings and offering instructions to Vietnamese businesses in legal proceedings to protect their legitimate rights and interests, he said

Vietnam Cambodia promote

border trade

MARKETS

The new decree has solved many problems in trading activities on the commodity exchange in

Vietnam and is expected to open a new era for both businesses and farmers to boost their sales through this channel. Trading through commodity exchanges will be more convenient in Vietnam with the Government’s new regulations on the establishment and trading on the commodity exchange.

Decree 51 expands the list of goods traded on the commodity exchange,

allowing all commodities that are not prohibited by the State and those subject to conditional trading, including the Vietnamese export commodities, as well as goods that Vietnam needs to import to serve the local production.The new regulations also extend the forms of trading order by accepting written documents and other forms such as telegraph, telex, fax or data message.An important content in this decree

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NEW REGULATIONS to improve Vietnam commodity exchange

DECREE NO. 51/2018/ND-CP,

WHICH WILL BE EFFECTIVE FROM

JUNE 1, 2018, AMENDS AND SUPPLEMENTS A

NUMBER OF ARTICLES OF THE GOVERNMENT’S

DECREE NO. 158/2006/ND-CP,

DATED DECEMBER 28, 2006, ON THE CONDITIONS FOR

THE ESTABLISHMENT OF COMMODITY

EXCHANGE.

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is that foreign investors will be allowed to contribute capital to establish commodity exchange in Vietnam. Their ownership in the exchange should not exceed 49 percent of its charter capital.Foreign investors are also permitted to trade goods on the commodity exchange as clients and can become members of the exchange (brokers or traders) without ownership restraint.In addition to this, the decree allows the interconnection of Vietnamese and global commodity exchanges. This is expected to help promote the integration process and development of the Vietnamese commodity exchanges.This (interlink) will create a lot of advantages in terms of commodity trading volume and value information, better market assessment and stronger capital capacity to prop up infrastructure and human resources of local exchanges.It has been eight years since the Vietnam

Commodity Exchange, Vietnam’s first commodity exchange, became operational in 2010. Since then, very few exchanges have been established.The total value of transactions through commodity exchanges has reached only 8 trillion VND (351 million USD) since, of which most transactions are focused on coffee products.Traders are mainly enterprises while farmers have no idea of the exchanges.Decree 51 provided better legal basis for enterprises and farmers to participate and trade on the exchange as well as for welcoming foreign investment in the exchanges.With these changes along with hedging tools, the commodity exchange is expected to help businesses mitigate risks and secure operations as well as enhance their position in both the domestic and global markets

Vietnam is expected to export 900 million USD worth of beverages by 2025, as heard

at a workshop hosted by the Vietnam Beverage Association (VBA) in Ho Chi Minh City.

The industry has grown well recently in Vietnam, creating more than 50,000 jobs and contributing three percent of the State budget. The soft drink sector grew 6.6 percent in 2011 - 2016 on an annual basis, while the beer sector was said to have caught up with global trends.

However, difficulties remained in the industry, including high inventory rate and shortcomings in business management policy.

VBA Chairman Nguyen Van Viet said to realise an average growth of 5.8 percent for 2016 - 2020, the beverage industry need long - term and stable policies which must be practical to avoid impacts on business operations.

Rungphech Chitanuwat, a sales director of

Thai - based UBM Asia, said the global beverage has high demand for food safety, with environmentally friendly materials.

She said key measures to boost the sector growth include trade promotion, material development, and new production machinery

Vietnam targets 900 million USD from beverage

export by 2025

MARKETS

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THÚY HÀ

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N

C.NHUNG

a. Tiêu chí: Công nhân khai thác,

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LÊ HOA

GHI

THÁI LINH

EVNGENCO3:

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thông minh LÊ HOA

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P.VI

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Địa chỉ: 12 đường số 1, ấp An Thuận A, Xã Mỹ Thạnh An, Thành phố Bến Tre, Bến Tre

Điện thoại: 0753822315-38223 - Fax: 0753822319

Giám đốc: NGÔ HỮU TÀI / PHAN QUỐC THÔNG

CÔNG TY CP VẬT LIỆU XÂY DỰNG BẾN TRE

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