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PRESS WATCH

April 11, 2017

Released at: 12:00, 11/04/2017 PRESS WATCH

April 11, 2017

VET's daily round-up of news from Vietnamese media for April 11.

Budget revenues up 15% in Q1

Budget revenues were estimated at VND280.9 trillion ($12.38 billion) in the first quarter of this year, up 15.2 per cent year-on-year and representing 23.2 per cent of the annual estimate, the Ministry of Finance announced on April 10.


Ministry approves Uber pilot

The Ministry of Transport has approved Uber Vietnam’s proposal to carry out a ride-hailing pilot scheme with local drivers. Uber and Grab are the two foreign app companies allowed to join the pilot scheme.


Number of multi-level marketing businesses down by half

The number of multi-level marketing businesses had halved to 37 by the end of March, following a government crackdown over the last two years to ensure they are operating correctly. The latest figures from the Ministry of Industry and Trade shows that the licenses of 15 multi-level marketing firms were revoked last year while 12 others closed of their own accord and three others temporarily ceased operations.


HCMC, Japanese city boost cooperation

Ho Chi Minh City and the Japanese city of Nagano signed a memorandum of understanding on bilateral cooperation on April 10 during a ten-day visit to Japan by leaders from Vietnam’s southern hub. The two sides agreed to boost cooperation in agriculture, industry, tourism, and human resources development.


Apple orders Vietnamese mobile stores to stop using logo

The Vo Tran Co. Ltd., which was engaged by Apple Inc. to protect its intellectual property in Vietnam, has sent letters to mobile phone stores in Ho Chi Minh City and Hanoi to alert them of trademark infringements. A number of mobile phone stores in Vietnam have been using Apple’s logo and other registered trademarks without the US tech giant’s permission.


Coffee exports to fall this year

Nationwide coffee exports for 2017 are expected to fall 30 per cent in volume, with revenue of $3.35 billion, said Do Ha Nam, Vice Chair of the Vietnam Coffee and Cacao Association. The Ministry of Agriculture and Rural Development has estimated that export volumes in the first quarter dipped 5.4 per cent year-on-year to 449,000 tons, with revenue of $1 billion.


Japan’s Mizuho to establish $252mn fund

Japan’s Mizuho Financial Group will set up a $252 million investment fund early this summer to invest in small- and medium-sized enterprises (SME) in Southeast Asia, including Vietnam, Indonesia, and Malaysia. According to a Nikkei report, each selected SME will receive around $9 million.

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