Vietnam Morning News For July 25

Vietnam securities watchdog urges trading groups to stay clear of cryptocurrencies
Prime Minister Nguyen Xuan Phuc in early April urged greater vigilance against cryptocurrency transaction and investment, while using cryptocurrencies as means of payment is prohibited in Vietnam.
— The Hanoi Times

Vietnam Seeks Ways to Snuff Out Cigarette Smoking
On a recent weekday afternoon in Ho Chi Minh City, the passengers bouncing along on one of the city’s green buses breathed in mouthfuls of carbon monoxide, hydrogen cyanide and other chemicals that add to Vietnam’s notorious pollution.
— VOA

Vietnam flood death toll rises to 27, more rain forecast
The death toll from floods and landslides triggered by tropical storm Son Tinh rose to 27 on Tuesday, and seven people are still missing, the government’s Disaster Management Authority said.
— Reuters

Vietnam Electricity revises up 2017 pre-tax profit to US$350 million
Electricity demand in Vietnam is forecast to continue increasing at an average rate of 9% per annum, driven by rising industrialization, urbanization and affluence, according to Fitch Ratings.
— The Hanoi Times

Catfish exporters need to diversify
Việt Nam’s catfish exports have been robust this year but the country’s overwhelming dependence on the increasingly competitive Chinese market remains a matter of risk.
— Viet Nam News

Vietnam’s H1 textile-garment exports hit US$16.5 billion
Overseas shipments of Vietnam’s textile and garment grew 16.5% year-on-year to reach US$16.5 billion in first six months of 2018, Truong Van Cam, vice head of Vietnam Textile and Apparel Association (VITAS), was quoted by the Dau Tu (Investment) newspaper as saying.
— The Hanoi Times

Vietnam: Dawn of the SEZs
A look back at the past failures, and challenging present, of Vietnam’s huge economic gamble.
— The Diplomat

Facebook and Vietnam’s new cybersecurity law
As any good activist knows, “fake news” is not only in the eye of the beholder, but also the eye of the enforcer.
— The Interpreter

Vietnam to focus on developing modern IT system: Deputy PM
Vietnam is concentrating on building an advanced IT infrastructure to serve the development of its digital government and economy, stated Deputy Prime Minister Vu Duc Dam.
— Nhan Dan Online

Vietnam offers assistance to Laos following hydropower dam collapse
Vietnamese leaders have offered assistance to the neighboring Laos after a partly-constructed hydropower dam in the country collapsed.
— VnExpress

Vietnam’s M&A deals value seen at $6.5 billion to $6.9 billion in 2018: government
Vietnam’s total mergers-and-acquisitions (M&A) deal value this year could be in a range of $6.5 billion to $6.9 billion, down from a record $10.2 billion in 2017, the government said on Tuesday citing industry data.
— Reuters

Vietnam tops ASEAN in luring Japanese investment
Vietnam has surpassed Thailand to become the top ASEAN member in attracting investment from Japanese businesses.
— VnExpress

Poor people lack access to mobile banking
A large number of poor people and women in Viet Nam have not accessed mobile banking.
— Bizhub

In Vietnam, cable car plans continue to threaten important cave system
Since 2014, one of the world’s largest cave systems has been under threat from developers planning to construct a cable car that would carry thousands of tourists every day.
— Mongabay

Motorbike market to heat up in coming years
Viet Nam’s motorcycle market has been rapidly growing in recent years, bucking expectations that it would enter a saturation stage, as consumption shifts from semi-automatic motorbikes to scooters and from widely popular scooters to luxury vehicles.
— Bizhub

FDI might suffer from high VND devaluation
The foreign direct investment (FDI) capital inflow to Vietnam can reduce significantly if the Vietnamese dong (VND) – the local currency – devalues sharply against the US dollar.
— The Hanoi Times

Samsung Vietnam opens more training courses for consultants in support industry
Samsung Vietnam and the Ministry of Industry and Trade (MoIT) opened the third and fourth training courses for Vietnamese consultants in the support industry in Ho Chi Minh City on July 24.
— VietnamPlus

PM talks macroeconomics stability
New driving forces for growth will be needed for Viet Nam in the coming years, Prime Minister Nguyen Xuan Phuc said on Mon day at a meeting with the Party Central Committee’s Economic Commission in Ha Noi.
— Bizhub

Many foreign investors eye industrial property in Vietnam: JLL
Vietnam can be a new industrial powerhouse in Southeast Asia and this will open up huge opportunities for industrial property developers, according to JLL Vietnam.
— The Hanoi Times

Teleconference discusses national, ASEAN one-stop shop mechanism
The Finance Ministry held a teleconference in Hanoi on July 24 to discuss developing national and ASEAN one-stop shop mechanisms and trade facilitation.
— VietnamPlus

He left Brooklyn to launch a start-up in ‘the next frontier’: Vietnam
Three years ago, Peter Petracca was working as a consultant in New York, itching for a change.
— CNBC

Feature photo Justin Jensen

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