Vietnam Morning News For May 9

PetroVietnam-invested projects incurred huge losses under Dinh La Thang
Many projects invested by PetroVietnam, the national oil & gas group, have been found taking huge losses. The common characteristic is that they were invested in when Dinh La Thang was on the post of chair of the board of directors.
– VietNamNet Bridge

Moody’s: Capital shortfall for banks remains key burden
Moody’s Investors Service on Monday said Viet Nam banks will face capital shortfall over the next 12-18 months and such a situation continues to represent a key credit burden for the industry.
– Viet Nam News bizhub

Vietnamese start-up receives $1million fund from Singapore investor
Viet Nam International Group (VNI Group) has received a US$1 million fund from a Singapore-based investment fund World Gold Investments PTE. LTD (World Gold).
– Viet Nam News bizhub

Non-infectious diseases kill 400,000 Vietnamese per year
Infectious diseases kill about 300 people per year, whereas non-infectious infectious diseases kill about 400,000 ones, said Deputy Minister of Health Nguyễn Thanh Long.
Read more at http://vietnamnews.vn/society/health/376021/non-infectious-diseases-kill-400000-vietnamese-per-year.html#wc5iLBXDYAFyWTJt.99
– Viet Nam News

Samsung Fire & Marine takes 20% in Vietnamese insurer PJICO
South Korea’s Samsung Fire & Marine Insurance Company Limited has entered an agreement to acquire a 20 per cent interest in Vietnam-based insurer PJICO, a unit of Vietnam’s largest petrol dealer Petrolimex.
– Deal Street Asia

VN property market stable in April
The real estate market was stable in April, as several developers of high- and middle-end projects slightly lowered prices to speed up sales, according to a new Ministry of Construction report.
– VietNamNet Bridge

Blue chips hit by low confidence
Shares dropped on both local markets on Monday as investors switched investments from large-cap stocks to mid- and small-cap ones, putting blue chips into negative territory.
– Viet Nam News

Thua Thien – Hue aims to attract $400m in FDI
The central province of Thua Thien – Hue aims to attract around US$300-400 million in foreign direct investment (FDI) this year, according to the province’s recent investment promotion plan.
– Viet Nam News bizhub

HCM City looks to boost culinary tourism
One of Southeast Asia’s best kept secrets is HCM City’s food scene: home to a veritable melting pot of local and international flavours found in the finest high-end restaurants and the lowliest streetside cafés.
– VietNamNet Bridge

Việt Nam reaffirms sovereignty over Trường Sa
As asserted many times previously, Việt Nam has sufficient legal grounds and historical evidence proving its sovereignty over Trường Sa (Spratly) archipelago, stated Foreign Ministry spokesperson Lê Thị Thu Hằng.
– Viet Nam News

Vietcombank to revise new online banking security regulations
The Joint Stock Commercial Bank for Foreign Trade of Viet Nam (Vietcombank) on Saturday announced on its website that the bank would revise its plan to apply new online banking security regulations.
– Viet Nam News bizhub

China emerges as biggest importer of Vietnam tra fish
China overtook the U.S. as the largest importer of Vietnamese tra (pangasius) fish in the first quarter of this year, according to the Vietnam Association of Seafood Exporters and Producers.
– VietNamNet Bridge

Hà Nội hi-tech farm expansion remains slow
Agricultural production in the capital city remains small-scale and outdated, despite successful land reform and investment in irrigation networks for many years, says the Nông Thôn Ngày Nay (Countryside Today) newspaper.
– Viet Nam News

Germany helps Vietnam expand wind power development
he project “Support to the Up-Scaling of Wind Power in Vietnam funded by the German Federal Ministry for Economic Cooperation and Development (BMZ) was reviewed in a seminar in Hanoi on May 8.
– VietnamPlus

Chili prices plummet in Vietnam
Pineapple, watermelon and chili growers in Vietnam are complaining about the hot weather which has forced them to work hard to water crops. Meanwhile, farm produce prices have dropped dramatically.
– Fresh Plaza

A top comrade’s fall underlines divisions in Vietnam
A corruption scandal at PetroVietnam has implicated a once fast-raising Politburo member, leading to the first ever in-term dismissal of a top ranking apparatchik
– Asia Times

HCM City’s 2nd control centre for surveillance cameras opens
olice in HCM City’s District 12 last week inaugurated a control centre for surveillance cameras they have installed to tackle street crimes and traffic violations and regulate public order and security.
– Viet Nam News

Social media extends life of resistance for Vietnamese land holders
In recent weeks, long running land disputes in Vietnam have begun to change shape. On 16 April, villagers in My Duc district on the outskirts of Hanoi held state officials and some police officers hostage. The villagers were protesting land clearances for a commercial development.
– East Asia Forum

Training course on investment, trade and tourism promotion opened in Hanoi
Hanoi Center of Investment, Trade and Tourism Promotion (HPA) in collaboration with the Foreign Trade University has recently organized the opening ceremony of a training course on investment, trade and tourism promotion for the city’s officials.
– Hanoitimes

Feature photo Monica Volpin
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Vietnam Morning News For May 9 added by John Le Fevre on May 9, 2017
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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.