Industrial and Trade developments from the press review on May 14, 2018.
I. Energy and Petroleum Developments
- Fuel Skepticism: Specifically, consumers and experts remain doubtful about the quality of E5 gasoline.
- Independent Testing: Consequently, some experts suggest that independent agencies should evaluate the fuel with consumer supervision.
- Aviation Strategy: Regarding distribution, Petrolimex Aviation aims to supply fuel to all 26 domestic airports within five years.
- Renewable Energy: Meanwhile, experts noted that Vietnam has high potential for renewable energy but lacks efficient exploitation.
- Solar Innovation: Additionally, EVN is studying solar power solutions for shrimp farming in Southern provinces.
II. International Trade and Export Challenges
- Market Inspections: Importantly, both the U.S. and EC will inspect Vietnamese catfish safety programs this month.
- Export Records: Regarding performance, six agricultural items reached export values of over $1 billion each in early 2018.
- Trade Barriers: However, major sectors like steel and textiles still face technical barriers and trade defense lawsuits.
- Cement Growth: In contrast, cement exports to Taiwan surged by over 114% in volume recently.
- Textile Outlook: Finally, the CPTPP agreement is expected to help the textile industry return to its “golden age”.
III. Corporate Management and SOE Performance
- Legal Cases: Specifically, authorities are urged to resolve the thousand-billion-VND losses and legal violations at PVtex.
- Project Delays: Furthermore, the Tan Mai Paper Factory remains unfinished after eight years of delays.
- SOE Efficiency: In general, the efficiency of state-owned enterprises remains low compared to their massive assets.
- Fiscal Discipline: Therefore, the government is ordering stricter control over credit in high-risk areas like virtual currencies.
IV. Industrial Growth and Manufacturing
- VinFast Roadmap: Regarding the automotive sector, VinFast plans to launch its first electric motorcycle in late 2018.
- Car Models: Furthermore, the company will introduce four car models, including sedans and SUVs, by 2019.
- Global Shifts: Notably, Vietnam is benefiting as simple manufacturing shifts away from China to Southeast Asia.
V. Domestic Market and Consumer Protection
- Simplified Rules: Regarding food safety, the Ministry of Industry and Trade has cut eight administrative procedures.
- Legal Definitions: In addition, a new draft decree aims to refine the definition of “fake goods” more clearly.
- Brand Scams: Meanwhile, authorities warned consumers about fake bank websites and ambiguous brand origins like Mumuso.
- Market Volatility: Conversely, the sugar and pork industries face risks from high inventory and spontaneous herd expansion.
