Vietnam morning news for November 2

Vietnam morning news for November 2

Vietnam morning newsVietnam ranked 69th in WB’s ease of doing business ratings
Vietnam is ranked 69th among 190 economies in terms of the ease of doing business (EODB), one place lower than last year’s ranking, according to the latest World Bank annual ratings announced on October 31.
— Nhan Dan Online

New decree facilitates rice trading, export activities
New regulations included in Decree No.107/2018 ND-CP have helped cut down costs for businesses in market engagement activities and created strong motivation for the improvement of their trading capacity and the promotion of rice exports, said business representatives at a conference in Ho Chi Minh City on November 1.
— VietnamPlus

Chinese coast guard chases down, rams fleeing Vietnamese fishing boat (HD video)
A Chinese coast guard vessel was filmed apparently ramming a Vietnamese fishing boat in video posted on Facebook on October 12 by the Tin Tuc Mong Cai 24/7 news agency.
— AEC News Today (video)

Vietnamese dragon fruit farmers worried as Chinese market shrinks
China has been expanding the growing area of many kinds of farm produce and has gradually reduced imports from Vietnam.
— VietNamNet Bridge

Vietnam’s Average Wages on the Rise
According to a recent economic development report by the government, average monthly wages in Vietnam grew by over 10 percent last year. The private sector witnessed the highest growth, while employees of state-owned enterprises earned the highest salaries. Major FDI destinations in the country continue to have much higher salaries compared to the rest of the country.
— Vietnam Briefing

Scrapping waste imports would cut deep, Vietnamese paper makers worry
Vietnamese paper makers are worried they will lack raw material for production if mixed paper waste import is banned.
— VnExpress

SBV Governor vows to speed up settlement of weak banks, bad debts
Governor of the State Bank of Vietnam (SBV) Le Minh Hung was questioned on the pace of handling bad debt and banks with bad performances during the question-and-answer session on November 1 at the 14th National Assembly’s ongoing sixth session.
— Nhan Dan Online

Vietnam primed for M&A boom as foreign ownership limit eases
Vietnam appears poised for a surge of investment following the country’s move to lift restrictions on foreign ownership of companies, as Asian multinationals realize the benefits of having a presence in one of the region’s fastest-growing economies.
— Nikkei Asian Review

Vietnam rolls out web monitor to control ‘false information’
Vietnam said on Wednesday (Oct 31) it has set up a web monitoring unit that can scan up to 100 million news items per day for “false information”, in a move that tightens its grip on internet freedom.
— Channel NewsAsia

Vietnam c.bank to further push cashless payment: C.bank governor
By the end of 2020, the ratio of cash transactions is expected to be reduced to below 10% and at least 300,000 point of sales (POS) are installed nationwide.
— The Hanoi Times

First Formula 1 Race In Hanoi Starts With 2020 Season
Vietnam’s capital Hanoi will start hosting Formula 1 races by April 2020, the Hanoi People’s Committee said on November 1 in a statement. That way, Vietnam is becoming the third Southeast Asian nation – after Singapore and Malaysia – to welcome the F1 racing circus as the franchise seeks to move into new markets.
— Investvine

Vietnam Digital Economy Forum focuses on small and medium-sized enterprises
The 2018 Vietnam Digital Economy Forum (VDEF), themed ‘Challenges and Strategic Solutions for Small and Medium-sized Enterprises (SMEs) in the Fourth Industrial Revolution’, took place in Ho Chi Minh City on November 1.
— Nhan Dan Online

Vietnam Social Security Scheme Update for Expatriate Workers
The government has issued the Social Security Scheme for expatriate workers, also known as Decree No. 143/2018/ND-CP, which will enter into force on December 1, 2018.
— Vietnam Briefing

Land issues blamed for slow SOE equitization
Obstacles to the valuation of the land use rights of State-owned enterprises (SOEs), especially those with multiple land lots in different parts of the country, have slowed the equitization of SOEs, said Minister of Finance Dinh Tien Dung at a question-and-answer session before the National Assembly (NA) today, October 31.
— VietNamNet Bridge

Vietnam sets up facility to monitor all social network messages: minister
The government is stepping up efforts to combat fake news on social networks, information minister Nguyen Manh Hung has told the National Assembly.
— VnExpress

How Vietnam’s New Leader Could Strengthen Ties to China
Nestled in Hanoi’s leafy French Quarter, under the shadow of its neoclassical Opera House, is a tiny gallery that exclusively stocks Vietnamese propaganda art.
— TIME

Make Vietnam your largest strategic base, PM urges Samsung
PM Nguyen Xuan Phuc has suggested that Samsung expands its scale to make Vietnam the group’s largest strategic base.
— VnExpress

Measures urged to improve quality of Vietnamese coffee
As the world’s leading producer of coffee, it is important to promote branding, value-added increases and global value chain participation for Vietnamese coffee, experts have suggested.
— Nhan Dan Online

Agreement opens EU to VN timber
The signing of the Forest Law Enforcement, Governance and Trade Voluntary Partnership Agreement (FLEGT-VPA) between Viet Nam and the European Union is expected to have a positive impact on the country’s economy and environment.
— Bizhub

“Pure roasted coffee” movement kicks off in Vietnam
Thousands of cafes have opened in the last three years serving ‘clean coffee’ or ‘100 percent pure coffee’.
— Vietnam Insider

South Korea’s KEB Hana Bank to buy 15% stake of Vietnam’s BIDV
At the current market price of VND30,350 (US$1.3) per share, the planned shares of Bank for Investment and Development of Vietnam (BIDV) issued to KEB Hana Bank are worth VND18.3 trillion (US$735 million).
— The Hanoi Times

Singapore firms show resurgent interest in Vietnam
SINGAPORE firms are looking towards Vietnam again, after an earlier wave of interest was disrupted by the global financial crisis and a domestic slowdown.
— The Business Times

Quang Tri moves to lure investors into coastal areas
The central province of Quang Tri has been making effort to draw investors into its coastal areas, tourism, and sea ports.
— VietnamPlus

Industry 4.0 requires for labour strategy
Vi?t Nam, with its open and internationally integrated economy, had been enjoying a ‘golden population’ period with a high number of working-age people. However, the quality of the labour force was not ‘golden’, experts said at a conference yesterday in Hà N?i.
— Viet Nam News

Thua Thien-Hue sets to draw 10 trillion VND investments
The central province of Thua Thien-Hue is striving to attract 15 domestic and foreign investment projects with total registered capital of some 10 trillion VND (428.8 million USD) in 2018.
— VietnamPlus

Vietcombank gains preliminary agreements to open U.S. office
Vietcombank has made a significant step in becoming the first Vietnamese bank to open a representative office in the United States, it said on Wednesday.
— Vietnam Insider

Hau Giang advised to invest huge money to boost tourism
The Mekong Delta province of Hau Giang should invest over 3.5 trillion VND (150.5 million USD) in 22 projects in order to develop tourism services, improve the transport system, and support tourism activities towards 2025, advised Ngo Son Tung, who represents the consultation company for a project to boost the province’s tourism by 2020, with vision towards 2025.
— VietnamPlus

Bid to stop transfer pricing abuse has local firms crying foul
Local companies complain they are caught in the crossfire of new regulations against transfer pricing abuse by foreign firms.
— VnExpress

Intellectual property rights for Vietnam’s farm produce discussed
Lack of attention to registering brand names and geographical indications is causing difficulties to Vietnamese agricultural products, which are sometimes shut out of other markets after their names are usurped by others, heard a recent seminar.
— VietnamPlus

Vietnam Film Business Comes of Age With Action-Thriller ‘Furie’
Veronica Van Ngo, who had a brief but memorable role as Paige Tico in “Star Wars: The Last Jedi,” is returning to her Vietnamese roots with the action-thriller “Furie.”
— Vietnam Insider

No Progress Seen in Case of US Citizen Held in Vietnam
Almost four months after being detained by Vietnamese police, U.S. citizen Michael Nguyen is still being held in unclear circumstances with no charges filed against him, according to family members and congressional representatives working for his release.
— Radio Free Asia

Vietnam seeking tech transfer from India to boost food processing base
Tran Thanh Nam, deputy minister, Ministry of Agriculture and Rural Development, Vietnam, said that the Asian nation was looking for transfer of technology from India to strengthen its food processing and crop protection base. It was also keen on harnessing India’s strength and developing a mechanism for organic food production in Vietnam.
— FnB News

 

Feature photo Vietnam Electricity Corporation

This week’s Vietnam morning news feature photo acknowledges World Cities Day, October 31.

 

Find our previous morning news feature photos in the AEC News Today Morning News Feature Photos gallery where you will find a pictorial display of daily life throughout the Asean Economic Community (AEC).

 

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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