Vietnam Morning News For September 18

Vietnam Renewable Energy Week 2019: electricity transition in spotlight
The energy transition enables Vietnam to move toward a greener country as the country pursues sustainable development.
— The Hanoitimes

Vietnam receives first benefits of CPTPP
Vietnam’s had a taste of what could be to come thanks to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), in making a surplus of over $1 billion from transactions with the other 10 signatories of the free trade agreement.
— Plenglish

Vietnam on right track to lift EC’s yellow card: official
Vietnam has carried out comprehensive measures as recommended by the European Commission (EC) to remove a “yellow card” warning from the commission on Vietnamese seafood, according to Deputy General Director of the Ministry of Agriculture and Rural Development’s Directorate of Fisheries Nguyen Quang Hung.
— VietnamPlus

16 arrested for stealing thousands of dogs in Vietnam
Sixteen gang members have been arrested and 51 dogs were rescued as part of an investigation into the thefts of thousands of dogs in northern Vietnam, police said on Tuesday (Sept 17).
— The Straits Times

Despite US exports rise, VN is urged to tighten origin rules to avoid investigations
Some Vietnamese exports have been investigated for origin fraud and tax evasion, which requires tougher action from the Vietnamese Government to settle the problem and keep its exports growing.
— Viet Nam News

State Bank of Vietnam strengthens relations with Cambodian partner
The State Bank of Vietnam (SBV) and the National Bank of Cambodia (NBC) held a bilateral meeting in Phnom Penh, Cambodia on September 16 to exchange and share experiences on macroeconomic management, especially in finance and banking.
— NDO

Vietnam’s social media crowd swells with new entrant to take on Facebook, Google
Lotus, a social network that allows users to create content and share posts to a home page, had received 700 billion dong ($30.14 million) in funding from tech corporation VCCorp and hoped to raise another 500 billion dong, company General Director Nguyen The Tan said at the launch ceremony.
— Reuters

RFA Blogger Formally Indicted in Vietnam for ‘Abuse of Power’
An RFA blogger held in Vietnam since the beginning of the year has been formally indicted on a charge of taking advantage of his position and powers during the performance of his official duties, state media reported on Tuesday.
— Financial Times

Promoting efficient and sustainable energy transition in Vietnam
Vietnam Renewable Energy Week 2019 was launched on September 17, in Hanoi, as an activity to respond to contribute to the implementation of Government policies on renewable energy development in Vietnam.
— NDO

Vietnam gains ground in shift from China
Outside a former Nokia phone factory in the north Vietnamese province of Bac Ninh, a freshly-posted sign advertises jobs for “hardworking, dynamic” workers over 16 years old.
— Financial Times

Vietnam’s solar FiT program beats expectations
Impressive achievement validates the government’s step-by-step approach to market development and the ability of domestic and international developers to mobilize capital for scalable renewable energy (RE) portfolios.
— The Asset

Lower benchmark rates help boost Vietnam’s economic growth: C.bank
The State Bank of Vietnam, the country’s central bank, would continue to closely monitoring the macro-economic conditions and managing the monetary policy in a flexible manner, aiming to support economic growth.
— The Hanoitimes

Five Vietnamese companies among ten most visited e-commerce sites in Southeast Asia
Five Vietnamese e-commerce platforms were named among ten most visited sites in Southeast Asia in the first half of this year.
— Viet Nam News

BIM Land to get $87.5m from IFC to develop tourism in Viet Nam and Lao PDR
BIM Land Joint Stock Company, a property developer under BIM Group, has reached an agreement with International Finance Corporation (IFC), a member of the World Bank Group, for a loan of up to US$87.5 million to develop tourism infrastructure in Vi?t Nam and Lao PDR.
— Viet Nam News

Enterprises to handle plastic waste
Enterprises in the Packaging Recycling Organisation Vietnam (Pro Vietnam) will collect all packaging they use by 2030, said the organisation’s leader in Hà N?i last week.
— Viet Nam Net

Viet Capital Bank submits profile to VSD
Ben Viet Bank (Viet Capital Bank) has registered with the Vietnam Securities Depository (VSD) to trade more than 317 million shares on the Unlisted Public Company Market (UPCoM).
— Viet Nam News

First seeding material sent to Vietnam
The first seeding materials of 2019 have already been shipped to the earliest export destinations in Vietnam. The seeding material of the early variety Actrice was ready to be prepared for export.
— Fresh Plaza

How hard is it for Vietnamese air carriers to fly to the US?
As if meeting technical requirements to fly to the US is not hard enough, Vietnam Airlines has to ensure the profitability of those flights.
— The Hanoitimes

Gov’t supports stronger ties between Vietnam, Singapore’s courts: deputy PM
Deputy Prime Minister Truong Hoa Binh affirmed the Vietnamese Government’s support for stronger cooperation between Vietnamese and Singaporean courts, while meeting with Chief Justice of the Supreme Court of Singapore Sundaresh Menon in Hanoi on September 16.
— NDO

Fitch Ratings assigns PetroVietnam at ‘BB’ for first time
Fitch Ratings has assigned the Vietnam Oil and Gas Group’s (PetroVietnam or PVN) first-time long-term foreign-currency issuer default rating (IDR) at ‘BB’ with a positive outlook.
— Viet Nam News

Vietnam to host ITU Telecom World 2020
The International Telecommunication Union (ITU) Telecom World 2020 will be held in Hanoi, Vietnam, in September 2020, announced the Ministry of Information and Communications on September 17.
— NDO

Is China Pressuring ExxonMobil to Cease Vietnam Operations?
Earlier this month private emails from Vietnam and elsewhere reported that ExxonMobil was about to suspend or terminate its mammoth Blue Whale natural gas project in Block 118 off Vietnam’s central coast because of pressure from China.
— Radio Free Asia

Vietnam strives to eliminate substances harmful to ozone layer
The Vietnamese Ministry of Natural Resources and Environment in conjunction with the United Nations Environment Programme and the World Bank (WB) organised a ceremony in Hanoi on September 16 to mark International Day for the Preservation of the Ozone Layer.
— NDO

HDBank gets green light to embrace Basel II standards ahead of schedule
The HCM City Development Joint Stock Commercial Bank has received approval from the State Bank of Vi?t Nam to adopt Basel II standards from October 1.
— Viet Nam News

Qu?ng Ninh releases green sea turtle back to nature
A green sea turtle, a rare reptile species, was released back to nature in H?i Hà District, northern Qu?ng Ninh Province on Monday.
— Viet Nam Net

Expert talk about Bình Duong’s FDI
Kelvin TEO, CEO of Sembcorp Development and Co-chairman of Vi?t Nam-Singapore Industrial Park Group, speaks with Vi?t Nam News about foreign investment in Vi?t Nam.
— Viet Nam News

IFC to extend $88m loan to Vietnam-based BIM Land’s tourism properties
International Finance Corporation (IFC), a member of the World Bank, is providing a loan of up to $87.5 million to Vietnamese property developer BIM Land to build tourism infrastructure projects in Vietnam and Laos.
— DealStreetAsia

Three Chinese held in Vietnam for ATM thefts
Police in the central province of Nghe An arrested three Chinese nationals Monday (later u say Wednesday!!) for allegedly stealing money from ATMs by skimming and faking cards.
— VnExpress

Work starts on national expressway’s Cam Lo – La Son section
Prime Minister Nguyen Xuan Phuc commenced the construction of the Cam Lo – La Son highway connecting Quang Tri with Thua Thien – Hue province on September 16.
— NDO

Fitch assesses oil firm PVN’s standalone credit profile at BB+
The credit ratings agency Fitch Ratings has assessed the standalone credit profile of the state-owned Vietnam National Oil and Gas Group, commonly known as PVN, at BB+.
— NDO

Vietnam, US boost people-to-people exchange
The Vietnam – US Society (VUS) and Peace Trees Vietnam (PTVN) held a gathering in Hanoi on September 16 with Vietnamese and American war veterans, on the occasion of the 74th anniversary of National Day (September 2) and the VUS (October 17), and the 25th anniversary of the normalisation of the Vietnam – US ties.
— VietnamPlus

Less working hours not feasible, businesses say
Many companies disagree with a proposal to cut weekly working hours to 44, saying the move would create more problems, not solve them.
— VnExpress

Turkish Airlines now flies directly to Hanoi and Ho Chi Minh City of Vietnam
Turkish Airlines has begun new non-stop Airbus A330 services between Istanbul and Vietnam’s two biggest cities, Ho Chi Minh City and Hanoi. Business Traveller reports.
— Vietnam Insider

HSBC Vietnam appointed Tim Evans as its new CEO
A highly experienced and versatile executive with deep knowledge of HSBC’s franchise in emerging markets, Evans joined the HSBC Group 26 years ago. Since then he has held many senior leadership roles with the Group across three continents and seven markets.
— Vietnam Insider

Vietnamese firms to attend India-CLMV trade meeting in India
Vietnamese business delegations will attend the first meeting between sellers and buyers of India and CLMV countries (Cambodia – Laos – Myanmar – Việt Nam) in India next month.
— Viet Nam News

Dung Quất Oil Refinery finds potential crude oil exporters
Leaders of Dung Quất Oil Refinery met potential exporters of crude oil at an international conference in Singapore last week.
— Viet Nam News

Masan Resources to acquire German tungsten business
Masan Tungsten Limited Liability Company, a wholly owned subsidiary of Masan Resources Corporation, has signed an agreement to buy the tungsten business of Germany’s H.C. Starck Group GmbH.
— Viet Nam News

HoSE, HNX will have separate roles and missions
The two exchanges will become sub-companies of the Vietnam Securities Exchange to improve the control of listed companies and market members (securities firms) and enhance the quality of technological facilities.
— Viet Nam News

FPT’s after-tax profit rises by 30% in the first eight months
FPT Corporation’ s revenue and pre-tax profit in the first eight months of the year increased by 21.1 per cent and 27.9 per cent year-on-year, reaching VNĐ17.032 trillion (US$733.67 million) and VNĐ 2.992 trillion ($129.88 million), respectively.
— Viet Nam News

Feature photo James Mason-Hudson

This week’s Vietnam morning news feature photo focus on regional parliament houses.

Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

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