Vietnam Morning News For May 21

Vietnam Morning News For May 21
Estimated Reading Time: 6 minutes |

Vietnam morning newsSynchronised real estate laws will bring stability
Since the real estate market began to recover in 2014, the country’s laws regulating the market have transformed significantly. But as the laws have developed, many of them overlap, creating redundancies that the Government must now try to eliminate, Dang Hung Vo, former deputy minister of Natural Resources and the Environment, said at a conference held in Ha Noi on Thursday.
— Bizhub

Vietnam plans etiquette code for social media users
Vietnam’s information and communication authorities are discussing ways to build a code of conduct for social media users in the country to prevent negative contents, protect users and create a healthy online environment.
— VnExpress

Vietnam’s Fintech Market To Reach $7.8 Billion In Value By 2020
As financial technology startups, or fintechs, keep disrupting Vietnam’s financial services industry, their market value is expected to reach $7.8 billion in just two more years, according to a new report Disruption by fintech: Transforming Vietnam’s Financial Services Ecosystem released by Asia-focused consulting firm Solidiance.
— Investvine

Vietnam drives to revive its ‘moral’ revolution
Shortly before his death in 1969, when revolutionary leader Ho Chi Minh put down on paper his last testament, his thoughts were occupied with how Vietnam’s Communist Party should maintain its core ethics.
— Asia Times

With an eye on China, India to hold naval exercise with Vietnam
India will hold its first naval exercise with Vietnam next week, as part of the overall strategy to steadily build military ties with nations in the Asia Pacific region with an eye firmly on a confrontationist and expansionist China, even as defence minister Nirmala Sitharaman is slated to visit Hanoi next month.
— Times of India

Vietnam targets US$900 million from beverage exports by 2025
The country’s beverage industry is expected to earn US$900 million from exports by 2025, according to the Vietnam Beverage Association (VBA).
— The Hanoi Times

Trade and service sectors need revision
The development of wholesale and retail infrastructure in Viet Nam has faced its fair share of rocky moments, but the industry’s growing role in consumption has put it at the forefront of the economy.
— Bizhub

Vietnam’s OCB Expects a $1 Billion Market Value After Listing
Vietnam Orient Commercial Joint Stock Bank expects its market capitalization to rise to $1 billion after its planned listing on the country’s benchmark bourse during the second half of the year, according to Chairman Trinh Van Tuan.
— Bloomberg

Japanese firms in Vietnam raise wages every year: report
Employees at most Japanese firms receive a 5-10 percent raise every year.
— VnExpress

Banks expand presence in Vietnam
Major lenders are accelerating their expansion in Vietnam, which is considered to be their next overseas cash cow. Vietnam has enjoyed a 6 percent economic growth in recent years and more than 6,500 Korean firms have already entered the country.
— Korea Times

Treasury raises $2.5b worth of Gov’t-bonds
The State Treasury of Viet Nam has mobilised over VND56 trillion (US$2.46 billion) through government bond (G-bond) auctions in Ha Noi Stock Exchange since the beginning of this year.
— Bizhub

Private capital inflows to realty sector positive
There have been positive signals of private capital inflows to the real estate sector in the past three years, economist Can Van Luc said at a recent forum.
— The Hanoi Times

Vietnam Airlines plans to build logistics hub in Can Tho city
The Vietnam Airlines Corporation plans to build a logistics centre in the Mekong Delta city of Can Tho this year, Deputy General Director Trinh Hong Quang said at a meeting with municipal leaders on May 18.
— VietnamNet Bridge

Vietnamese farm produce promoted in Japan
Vietnam’s firms are striving to promote Vietnamese farm produce in the Japanese market at a trade promotion programme held within the 10th Vietnam festival in Tokyo.
— VietnamPlus

​High levels of carcinogen found in chili powder in Vietnam
Vietnam’s authorities have imposed fines on five local establishments for producing and trading poor-quality chili powder, which have been found containing excessive amount of a carcinogen, or cancer-causing agent.
— Tuoi Tre

HOSE witnesses record transaction value of $1.54 billion
Vietnam’s stock market recorded a memorable trading session on May 18 when total transaction value surpassed 35 trillion VND (1.54 billion USD) on the Ho Chi Minh Stock Exchange (HOSE).
— VietnamNet Bridge

Domestic firms urged to improve product quality, added value
Improving the quality and added value of products is crucial for Vietnamese firms to access and fully tap the US market, experts said at the Vietnam-US Business Forum held in Ho Chi Minh City on May 18.
— Nhan Dan Online

Hanoi’s smart city project sparks doubts
Four investors from Vietnam and Japan, namely BRG, Phu Cuong Real Estate Investment, Motor NA Vietnam, Hanoi Service & Real Estate and Sumitomo Corporation, have asked for Hanoi authorities’ permission to develop a smart city capitalized at $4 billion.
— VietnamNet Bridge

TTC Bien Hoa buys back 62 million treasury shares
Bien Hoa Joint Stock Company (Market Identifier Code: SBT) has completed the buyback of treasury shares (TS) as announced previously.
— Tuoi Tre

Provinces ban land speculation
After land prices, and, along with them, instances of violation of land laws, surged in certain places, the provinces involved have temporarily banned land transactions pending the approval of new regulations, helping cool off the market.
— Bizhub

Lazada faces inspection after multiple service complaints in Vietnam
The market and consumer rights agency in Vietnam has planned to conduct an examination of the operation of Southeast Asian e-commerce firm Lazada Group after it has been accused of providing persistently unreliable services.
— Tuoi Tre

Vietnam launches official investigation into Grab’s acquisition of Uber
The Vietnam Competition Authority (VCA) issued a decision on May 18 to launch an official investigation into Grab’s purchase of Uber’s business in Vietnam.
— Nhan Dan Online

BAY puts Vietnam plans on back burner
SET-listed Bank of Ayudhya (BAY) has put off exploring business opportunities in Vietnam after facing several hurdles, particularly the high costs of mergers and acquisitions (M&A).
— Bangkok Post

Viet Nam-US forum seeks boost to investment, trade ties
There is a huge opportunity for Viet Nam and the US to expand investment and trade ties in many sectors, a bilateral trade forum heard in HCM City on Friday.
— Bizhub

Vietnam embarks on green campaigns
Vietnam launched an environmental protection campaign at the weekend that will position the country as a green tourism destination.
— TTR Weekly

 

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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

junior writer/ trainee journalist at AEC News Today
Sreypov Men is currently a senior student at Institute of Foreign Languages where she is majoring in International Relations. She commenced as an intern and was appointed as a junior writer/ trainee journalist on April 2, 2018

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