Vietnam Morning News For May 26

Vietnam Morning News For May 26

Vietnam morning news

Foreign trade law needed: deputies
A law on foreign trade management is needed to better manage foreign trade activities as Việt Nam integrates deeper into the global economy, said lawmakers while discussing the draft law at the ongoing third session of the 14th National Assembly (NA) on Thursday.
– Viet Nam News

Poor management causes Vietnam’s public debt to rise rapidly: official
While debt ratios are still within safe limits, both the government and foreign creditors have noticed a fast growth.

VN FDI inflow lags through May
Foreign direct investment (FDI) into Viet Nam reached US$12.13 billion in the first five months of this year, surging 10.4 per cent against the same period last year.
– Viet Nam News bizhub

FDI poured into Vietnam rises nearly 41%
According to the Foreign Investment Agency under the Ministry of Planning and Investment (MPI), total foreign direct investment (FDI) in Vietnam reached 11 billion USD from the outset of the year, a year-on-year surge of nearly 41 percent.
– Hanoitimes

Vietnam firms eye untapped foreign markets
The Vietnam Trade Promotion Agency held a workshop in the capital on May 25 on trade promotion to the Middle East and Africa, which followed a conference on South American trade promotion on May 24.
– VietNamNet Bridge

VinaCapital exits Times Square, LienVietPostBank acquires Sacomreal
New market developments in the Vietnam real estate industry have seen VinaCapital exit the Hanoi-based mixed-use project, called Times Square, selling to Elite Capital Resources Limited. Meanwhile, banking institution LienVietPostBank has decided to purchase bonds of Sacomreal for VND500 billion.
– Deal Street Asia

Foreign capital dominates insurance sector
The shareholder structure in insurance companies has seen big changes in recent years. Many Vietnamese partners have withdrawn capital in joint ventures, while foreign conglomerates have increased their ownership ratio to 100 percent.
– VietNamNet Bridge

Experts discuss draft Law on Tourism
The Vietnam Economic Times Group held the “Creating a Breakthrough for Tourism to Develop into a Spearhead Economic Sector” workshop in Hanoi on May 25.
– Vietnam Economic Times

Vietnam-linked hackers likely targeting Philippine intel on South China Sea dispute – FireEye
Hackers linked with the Vietnamese government are likely targeting Philippine government agencies to gather intelligence related to the maritime dispute in the South China Sea, cybersecurity company FireEye said on Thursday.
– Channel NewsAsia

Vinamilk imports 2,000 heads of US dairy cattle
The Vietnam Dairy Products Joint Stock Company (Vinamilk) has imported more than 2,000 cows from the US.
– Vietnam Economic Times

Vietnam steps up equitization to get ready for free trade with EU
The Vietnamese government policy to divest itself of these enterprises is twofold, said speakers at a recent forum in Hanoi discussing the country’s preparedness for the Vietnam-EU free trade pact that is on track to come into force in 2018.
– VietNamNet Bridge

Vocational education reform key for VN
Vocational education and training must be reformed to meet the requirements of the fourth industrial revolution, experts said on May 25 at a meeting held in HCM City.
– VietnamPlus

UPCoM gets new classification rules
The Hà Nội Stock Exchange (HNX) recently issued a stock classification code on the Unlisted Public Company Market (UPCoM), in order to help investors keep closer watch on existing companies’ owners’ equity and prepare to categorise a large number of goods to be released into the market soon.
– Viet Nam News

Moody’s: Strong FDI helps Vietnam diversify economy
Robust GDP growth continues, along with macroeconomic and external stability, a situation that is favorable for the stabilization of the government’s debt burden, the ratings agency added.
– VietNamNet Bridge / VN Economic Times

Treasury mobilises more capital from Government bonds
Government bonds worth over VND5.86 trillion (US$262.77 million), issued by the State Treasury, were sold at an auction at the Hanoi Stock Exchange (HNX) on May 24.
– Viet Nam News bizhub

VN’s doctor consulting app gets Google sponsor package
EDoctor, a mobile app developed by a Vietnamese tech startup that connects users with medical professionals, has been selected to receive free mentorship and monetary support from Google.
– Viet Nam News

Lao gov’t takes step to develop seaport in Vietnam
The Lao government has instructed relevant sectors to study the establishment of a Lao joint state-private company to join its Vietnamese counterpart to develop a seaport in central Vietnam, a government spokesman said.
– Xinhua

Breeders Worry Over Falling Chicken Price
The prices of battery-farmed chickens and their egg are falling rapidly, causing concern for breeders nationwide, especially in Hà Nội and Đồng Nai – the two localities raising the highest numbers of battery chickens.
– The Poultry Site

TTC Sugar to take over BHS in a 300m share swap merger
Thành Thành Công Tây Ninh Sugar JSC (TTCS) will make a share swap to fully acquire Biên Hòa Sugar JSC in order to create the biggest sugar producer in Việt Nam.
– Viet Nam News

Novaland Group obtains $30mn syndicated loan
Novaland, one of Vietnam’s leading property developers, has received a syndicated loan from two foreign banks – Maybank in Malaysia and VietinBank Filiale Deutschland (VietinBank’s branch in Frankfurt, Germany) – in which Maybank is the main lender.
– Vietnam Economic Times

Foreign café chains facing competition from local outlets
While gaining success in other markets, many foreign coffee brands have had to leave the Vietnamese market.
– VietNamNet Bridge

MoIT to re-review steel dumping duties
The Ministry of Industry and Trade (MoIT) has issued a decision to conduct a second review of anti-dumping duties on imported cold-rolled stainless steel.
– Viet Nam News bizhub

Will Vietnamese workers have a place in the Fourth Industrial Revolution?
Most of them cannot afford to prepare themselves for the wave of automation, or even worry about it.

Labour safety key to Japan’s ODA projects
The Japan International Cooperation Agency (JICA) takes occupational safety seriously as part of projects sourced from Japan’s official development assistance, stated Fujita Yasuo, Chief Representative of JICA Vietnam Office.
– VietnamPlus


Feature photo AG Gilmore
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John Le Fevre

Thailand editor at AEC News Today

John is an Australian national with more than 40 years experience as a journalist, photographer, videographer, and copy editor.

He has spent extensive periods of time working in Africa and throughout Southeast Asia, with stints in the Middle East, the USA, and England.

He has covered major world events including Operation Desert Shield/ Storm, the 1991 pillage in Zaire, the 1994 Rwanda genocide, the 1999 East Timor independence unrest, the 2004 Asian tsunami, and the 2009, 2010, and 2014 Bangkok political protests.

In 1995 he was a Walkley Award finalist, the highest awards in Australian journalism, for his coverage of the 1995 Zaire (now Democratic Republic of Congo) Ebola outbreak.

Prior to AEC News Today he was the deputy editor and Thailand and Greater Mekong Sub-region editor for The Establishment Post, predecessor of Asean Today.

In the mid-80s and early 90s he owned JLF Promotions, the largest above and below the line marketing and PR firm servicing the high-technology industry in Australia. It was sold in 1995.

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