Vietnam Morning News For February 21, 2020

Vietnam’s Rights Record Deteriorating Despite Regular Dialogue With West: Experts
Vietnam’s human rights situation continues to deteriorate despite regular dialogues between Hanoi and Western nations, a social analyst and a former political prisoner said Wednesday, as representatives of the European Union and the one-party communist state sat down for talks on the latter’s rights record.
— Radio Free Asia

Vietnam car market ranks fourth in Southeast Asia
Vietnam’s localization rate for passenger cars of under nine seats is 7 – 10%, much lower than the target of 35 – 45% set for the car industry 20 years ago.
— The Hanoitimes

Ministry requests tightened control of wildlife trafficking, consumption
The Ministry of Natural Resources and Environment (MoNRE) has demanded sectors and localities nationwide to enhance the management of illegal wildlife caging, trading and consumption.
— VietnamPlus

Vietnam’s Annual Tax Finalization – Challenges and Recommendations
The three-month period from January 1 to March 31 of a calendar year is often referred to as the “high season” for most accountants since this is a period of preparation and submission of Corporate Income Tax (“CIT”) and Personal Income Tax (“PIT”) finalization returns. The deadline for these returns is 90 days from the end of the previous financial year.
— Vietnam-Briefing

State-owned enterprises more profitable after privatization: report
Former state-owned enterprises that were sold off since 2005 showed improved financial performances three years after divestment on average.
— VnExpress

Vietnam wants ASEAN to “not have to choose sides”: military official
Vietnam aims to foster ASEAN’s unity in its chairmanship year 2020 to prevent the regional bloc from “having to choose sides,” in the context of growing strategic competition between global powers.
— VietnamNet

Mobile money to add up 0.5 ppts to Vietnam economic growth
Over 50% of the Vietnamese population does not have a payment account at banks, therefore, mobile money would offer a non-cash payment method for a large base of customers.
— The Hanoitimes

Vietnam PM assures ASEAN sugar import tariffs are history
Vietnam is set to keep its commitment to ASEAN to scrap sugar import tariffs despite demands by the industry to delay the move.
— VnExpress

VN needs to improve structural reform, competitiveness to tap CPTPP opportunities
Vietnam should improve structural reforms and businesses’ competitiveness to efficiently implement the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP), heard a conference held by the Central Institute for Economic Management (CIEM) in Hanoi on February 19.
— VietnamPlus

Vietnam encourages private investment in energy: Politburo
The Politburo will encourage all economic sectors, especially private businesses, to invest in energy projects, Party General Secretary, President Nguyen Phu Trong has said.
— Sggp News

Ministry forms alliance to develop plastic waste management
A public-private partnership agreement on building the circular economy in plastic waste management in Vietnam has been signed for the first time by the Ministry of Natural Resources and Environment (MONRE), Dow Chemical Vietnam Limited Company, SCG Group, and Unilever Vietnam International Co. Ltd on February 19.
— Sggp News

Investment funds make more stock purchase despite decling prices
Although the novel coronavirus epidemic COVID-19 has been continuously slamming the stock market, sending stock prices down, many investment funds are still actively buying.
— Viet Nam News

Vietnam, China and Laos hold fruitful talks at meeting on Covid-19
Deputy Prime Minister and Foreign Minister Phạm Bình Minh had bilateral meetings with Chinese State CouncilLor and Foreign Minister Wang Yi and Lao Minister of Foreign Affairs Saleumxay Kommasith in Vientine on Wednesday (Feb 19).
— The Star Online

Samsung says Galaxy factories in Vietnam running ‘at full capacity’
Samsung Electronics unveiled its latest smartphone for the Vietnamese market on Wednesday and said its workhorse factories in the Southeast Asian country are fully operational despite the coronavirus outbreak.
— Nikkei Asian Review

Vietnam universities break into top 1,000 in global ranking
Tertiary education in Vietnam has achieved greater fame on the global academic map with two universities entering the world top 1,000 Quacquarelli Symonds ranking.
— VnExpress

CPTPP pressurizes Vietnam to speed up institutional reforms
Whether Vietnam could take advantage of the CPTPP would depend on the country’s institutional capabilities and local enterprises’ adaptability.
— The Hanoitimes

Masan Group completes US$24-million stake acquisition of Net Detergent
At a price of VND 48,000 (US$2.07) per share, Masan valued the company at US$46 million and price to earnings (P/E) multiple of 13x.
— The Hanoitimes

Saigon metro to test run in Q3
An elevated section of Ho Chi Minh City’s Ben Thanh-Suoi Tien Metro Line 1 will be tested out within the third quarter this year.
— VnExpress

Affirma Capital to invest $34m in Vietnam-based HR platform Sieu Viet
Singapore-headquartered emerging market private equity firm Affirma Capital, formerly known as Standard Chartered Private Equity, has agreed to invest $34 million in Vietnam-based online recruitment firm Transcendental Human Resources JSC, known locally as Sieu Viet.
— DealStreetAsia

Vietnam attends UN social development commission session
Dinh Nho Hung, Deputy Permanent Representative of the Vietnam Mission to the United Nations, has affirmed the importance of social protection in dealing with homelessness while attending a UN Commission for Social Development session.
— VietnamPlus

Blackstone very confident of its Vietnam nickel venture
BULLISH Blackstone Minerals MD Scott Williamson anticipates a further re-rate of the Vietnam nickel sulphate play following a resource estimate next quarter and the results of scoping work soon after.
— Mining News

Vietnam builds public private collaboration to address plastic waste
A Memorandum of Understanding (MoU) to build public private collaboration towards circular economy in plastic waste management was signed in Hanoi on February 19.
— VietnamPlus

VNĐ4.61 trillion mobilised through G-bond auction
The State Treasury mobilised VNĐ4.61 trillion (US$198.5 million) from a recent G-bond auction on the Hà Nội Stock Exchange (HNX).
— Viet Nam News

VN stocks up as large-caps return
Vietnamese shares advanced for a third day as investors turned their attention back to large-cap items despite negative development of global markets.
— Viet Nam News

Online stores work to stop face mask price gouging
Online shopping platforms in Việt Nam were enhancing cooperation with the Department of e-Commerce and Digital Economy to regularly check the sales of face masks and hand sanitiser.
— Viet Nam News

Việt Nam-China trade to resume as border gate reopens
The Tân Thanh-Pò Chài Border Gate in the northern province of Lạng Sơn has been reopened, allowing cross-border trade between Việt Nam and China to resume after it was suspended due the outbreak of novel coronavirus (COVID-19) in China, said Nông Hải Thăng deputy director of Đang Đăng Economic Zone.
— Viet Nam News

City to expand collective economic model
Lê Thanh Liêm, deputy chairman of the city’s People’s Committee, said the city had achieved positive results after 15 years of implementing the Party Central Committee’s resolution on continued reform, development and improvement of the collective economy model.
— Viet Nam News

Hanoi willing to enhance cooperation with Malaysia in numerous fields
Hanoi will create favorable conditions for Malaysian businesses operating in the city.
— The Hanoitimes

Border gate reopened for transport of Vietnamese exports to China
A border gate between China and the northern Vietnamese province of Lang Son has been reopened for the transport of exports following a temporary shutdown due to the novel coronavirus disease (COVID-19).
— Vietnam Insider

Boosting structural reform and businesses’ competitiveness vital to grab CPTPP opportunities
Improving structural reforms and businesses’ competitiveness is critical to efficiently implement the Comprehensive and Progressive Trans-Pacific Partnership (CPTPP) in Việt Nam, heard a conference held by the Central Institute for Economic Management (CIEM) on Wednesday in Hà Nội.
— Viet Nam News

Vietnam supports seeking of political solutions to Syria
Ambassador Pham Hai Anh, Deputy Head of the Vietnam Mission to the United Nations (UN), laid stress on the significance of seeking political solutions and diplomatic efforts to restore peace in Syria while speaking at the UN Security Council’s session on February 19.
— VietnamPlus

Việt Nam to develop a master plan on environmental monitoring system
Việt Nam is planning to develop a master plan on an environment and natural resource monitoring system to better prevent natural disasters and protect the environment.
— Viet Nam Net

MONRE teams up with firms on plastic waste management
The Ministry of Natural Resources and Environment signed a memorandum of understanding (MoU) with three enterprises on building public-private collaboration towards the circular economy in plastic waste management in Hà Nội on Wednesday.
— Viet Nam News

EU funds project to promote sustainable forest management in Quảng Trị
The central province of Quảng Trị has approved a project funded by the EU to promote sustainable partnership between smallholder forest owners and enterprises in sustainable forest management in response to climate change.
— Viet Nam Net

15 of 16 coronavirus patients in Vietnam recovered and discharged
According to the Vietnam’s Ministry of Health, among 16 cases of infection across the country, 15 patients have recovered and discharged from the hospitals. The remaining case, a U.S Citizen man in Saigon has recovered and is expected to be released from hospital on Friday.
— Vietnam Insider

Vietnam, Japan co-chair workshop on maritime domain awareness
Vietnam and Japan co-chaired the second ASEAN Regional Forum (ARF) workshop on international cooperation on maritime domain awareness in Tokyo on February 20.
— NDO

Vietnam expects EU shrimp export boost from trade deal
Vietnamese shrimp exporters hope that European sales will continue to grow once a trade deal between their country and the 27-member European Union takes effect, Vietnam Plus reported.
— Undercurrent News

Forestry industry to gain export value growth of 10% this year
Việt Nam this year expects to gain a total export value of US$12.5 billion from timber, wooden products and forest products, up 10 per cent year on year, according to the Việt Nam Timber and Forest Product Association (VIFORES).
— Viet Nam News

VN-Index steadies amid scepticism
The VN-Index on the Ho Chi Minh Stock Exchange inched up 0.09 per cent to close at 928.76 points.
— Viet Nam News

Equity crowdfunding platform to boost development of start-ups
An equity crowdfunding platform would be established in a bold effort to boost the development of start-up firms.
— Viet Nam News

Feature photo Global Partnership for Education/ World Bank

This week’s Vietnam morning news feature photo focus on International Mother Language Day, February 21.

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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