Vietnam morning news for August 23

Vietnam morning news for August 23

Vietnam morning newsVietnam goes solar
With electricity demand in Vietnam growing 12 percent annually, the Vietnamese government has set a goal to generate 265 billion kilowatt-hours (kWh) of electricity by 2020 and 570 billion kWh of electricity by 2030.
— The Asean Post

Vietnam convicts 12 ‘terrorists’ for subversion
Vietnam Wednesday jailed two American citizens and 10 others from an outlawed US-based “terrorist” group for attempting to overthrow the state after they spread anti-government leaflets and tried to incite protests last year.
— Channel NewsAsia

VN posts $2.92b trade surplus by mid-August
Viet Nam gained a trade surplus of US$2.92 billion to August 15, according to the latest statistics from the General Department of Customs.
— Bizhub

Logistics is new growth engine for Vietnam’s sustainable development: experts
“As a market economy, there is no other option for sustainable development than a high competitiveness,” stated the head of the Institute for Brand and Competitiveness Strategy (BCSI).
— The Hanoi Times

Cassava struggles to reach export goal
Cassava is one of Viet Nam’s billion-dollar export products. But the starchy root’s dependence on a single export market as well as shrinking production supply areas have challenged the industry’s ambitious goal of reaching US$2 billion worth of exports by 2023.
— Bizhub

Vietnam looks to low alcohol beer for growth as government ban looms
The country’s Saigon binh Tay Beer (Sabibeco), an affiliate of the country’s biggest brewery Sabeco, is planning to quintuple the production of its ‘Sagota’ brand of low-alcohol beer to 1 billion litres by 2025, Nikkei reported.
— The Drink Business

ASEAN businesses to reinforce connectivity to grab chances from Indsutry 4.0
Vietnamese enterprises should find new ways to adapt to and grab chances from the fourth industrial revolution, Vietnamese Deputy Foreign Minister Bui Thanh Son said.
— The Hanoi Times

Vietnam customs actively implements WTO Trade Facilitation Agreement
The Vietnam customs has actively carried out a number of activities in a bid to realise its commitments under the Trade Facilitation Agreement (TFA) signed between members of the World Trade Organisation (WTO).
— Nhan Dan Online

Mekong Delta urged to apply hi-tech in fish farming
Minister of Agriculture and Rural Development Nguyen Xuan Cuong has urged the Cuu Long (Mekong) Delta provinces, especially An Giang Province, to apply advanced technologies in production of tra fish (catfish).
— Bizhub

Vietnam to Hike Minimum Wages by 5.3 Percent in 2019
Vietnam’s National Wage Council has proposed to increase the minimum wage by 5.3 percent in 2019. The proposed hike, which is the lowest compared to previous years, will increase the minimum wage in the four regions by US$7-9 per month.
— Vietnam Briefing

GlucoMe and Merck KGaA, Darmstadt, Germany to Collaborate on Digital Diabetes Management Project in Vietnam
Digital diabetes platform provider GlucoMe has entered into a pilot collaboration agreement with Merck KGaA, Darmstadt, Germany to evaluate GlucoMe’s digital diabetes platform across several hospitals in Vietnam.
— AEC News today/ PR Newswire (media release)

Vietnam Railways upgrades level crossings
VIETNAM National Railways (VNR) has awarded Wegh Group, Italy, a contract for 200 TD96/2 level crossing barrier machines.
— IRJ

It’s tech time for local companies
The application of modern digital technologies would help local firms increase productivity, reduce costs and risks, especially in the Fourth Industrial Revolution.
— Viet Nam News

Vietnam video website requires island sovereignty test
A Vietnamese video streaming website showing popular Chinese TV series requires Chinese visitors to answer a questionnaire on South China Sea over several islands before using the site.
— Global Times

Central ramps up Vietnam expansion
CENTRAL Group, Thailand’s largest retail conglomerate, plans to spend as much as US$500 million to expand its retail network in Vietnam over the next five years.
— The Nation

HCM City Farmers Association seeks to improve members’ lot
The HCM City Farmers Association targets increasing farmers’ average income to VNĐ65 million (US$2,900) by 2023, up from VNĐ49 million last year.
— Viet Nam News

Capital market faces imbalances
The Viet Nam’s capital market is facing a concerns in the imbalance between the credit market and the capital market.
— Bizhub

Mekong Delta PPP sustainable fishery development project launched
A project promoting sustainable fishery development via strengthening public-private partnership (PPP) in the Mekong Delta was launched in Ho Chi Minh City on August 22.
— VietnamPlus

Non-life insurance companies in Vietnam open doors for more investments
Domestic non-life insurance companies expect the additional investment capital will help them expand distribution networks and enlarge market shares in the prosperous but competitive market.
— The Hanoi Times

Strong growth will support stabilisation in Vietnam’s debt burden: Moody’s
Strong economic growth will likely continue in Vietnam over the next few years and support a stabilisation in debt, Moody’s Investors Service said on August 21.
— Nhan Dan Online

Japan Taisho Group increases holding in Vietnam DHG Pharmaceutical to 32%
DHG`s largest shareholder is State Capital Investment Corporation (SCIC) with 56.6 million shares or 43.31% of the medicine maker`s charter capital.
— The Hanoi Times

SCIC reports 19% decrease in profit in Jan-Jun
SCIC sets revenue target of VND7.9 trillion (US$341.62 million) and after-tax profit of over VND5.4 trillion (US$233.51 million) for 2018.
— The Hanoi Times

PM urges thorough preparations for WEF ASEAN
Prime Minister Nguyen Xuan Phuc has urged the relevant ministries and agencies to prepare diligently for the World Economic Forum on ASEAN (WEF ASEAN), which is set to take place from September 11-13 in Vietnam.
— Nhan Dan Online

Ben Tre: Shrimp to become spearhead of production industry Ben Tre
The Mekong Delta province of Ben Tre will be developing its shrimp sector’s value chain with intensive farming and advanced technological application, aiming to make it the spearhead of the locality’s industrial production sector by 2025, according to Vice Chairman of the provincial People’s Committee Nguyen Huu Lap.
— VietnamPlus

Cuba and Vietnam to expand economic cooperation
The governments of Cuba and Vietnam are working together to increase economic cooperation and bilateral business, Granma newspaper reported on Monday.
— Caribbean News Now

Men’s football demands peak Asiad 2018 ad prices in Vietnam
A 30-second halftime advert during Vietnamese men’s football matches at Asiad 2018 will cost a hefty $6,450.
— VnExpress

Vietnam Fisheries International Exhibition opens in Ho Chi Minh City
The 2018 Vietnam Fisheries International Exhibition (Vietfish) officially opened at the Saigon Exhibition and Convention Centre in Ho Chi Minh City on August 22.
— Nhan Dan Online

Don’t treat ride-hailing firms as taxis, Vietnam government advised
Forcing ride-hailing cars to work like traditional taxis is a serious mistake revealing a non-innovative mindset, a leading economist says.
— VnExpress

 

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Vietnam morning news by AEC News Today is your one stop source for Vietnam news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies, not politics.

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Sreypov Men recently completed a course of study in International Relations at the Institute of Foreign Languages.

She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018

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