Vietnam morning news for November 6

Vietnam morning news for November 6

Vietnam morning newsVietnam: Southeast Asia’s fintech hub
Vietnam’s strong economic growth in recent years has led to the flourishing of the nation’s digital economy. The country’s economy in 2017 was deemed to be one of the best performing in the region. Its economy saw a 6.8 percent increase in gross domestic product (GDP) – higher than the government’s initial target of 6.7 percent – making it one of the fastest growing economies in Southeast Asia.
— The Asean Post

Vietnam gains more from rice export in 10 months
Vietnam reaped over 2.6 billion U.S. dollars from exporting over more than 5.2 million tons of rice in the first 10 months of this year, up 16.1 percent and 3.4 percent respectively against the same period last year, according to the Vietnamese Ministry of Agriculture and Rural Development on Monday.
— Xinhua

Cement industry surpasses 85 million tonne target
High demand, especially in global markets, have helped the cement industry surpass its annual sales target of 83-85 million tonnes in just ten months.
— Viet Nam News

Vietjet Air targets young aircraft fleet to keep costs low
Budget carrier Vietjet Air plans a fleet age average of three years to keep fuel and maintenance costs low.
— VnExpress

Vietnam has the highest e-commerce adoption rate in Southeast Asia: EIU Report
Consumers in the land of smiles may have the most voracious online shopping habits in Southeast Asia but a higher percentage of Vietnamese are tossing items into online carts.
— Yahoo News

Hanoi targets to be national logistics service hub
A series of measures have been proposed at a recent workshop in Hanoi, aiming to turn the capital city into a logistics centre of the nation in the future.
— VietnamPlus

Forum discusses ways to cut shrimp production costs
Viet Nam, which is among the world’s largest shrimp exporters, is expected to encounter difficulties in the future due to the impact of climate change, high production costs and other factors, according to experts.
— Bizhub

Vietnam sees imported cars up 58% y/y in October
As of October 2018, Vietnam has imported 14,261 cars worth over US$295 million. Cars from Thailand and Indonesia accounted for 75% of total cars imported to Vietnam.
— The Hanoi Times

Low budget deficit follows tariff cuts
The Vietnamese government has set a low budget deficit target for next year given Vietnam’s sinking revenues from crude oil and tariffs, with a cut in recurrent spending which will leave the country’s public investment unaffected.
— VietnamNet Bridge

Vietnam’s first bank enables cardless cash withdrawals
Tien Phong Commercial Joint Stock Bank (TPBank) is the first bank in Vietnam to allow cash withdrawals using a QR Code at both its ATMs and Livebank service without needing a card.
— VietnamPlus

Mobikor Enters Into a Strategic Alliance with Vietnam’s Largest Cartoon Company ‘comicola’
Mobikor (www.vinatoon.com.vn, co-CEOs — Kim Joong-hwan and Lee jin-woo), Vietnam’s first webtoon service provider, announced on October 31 that it entered into a strategic alliance with ‘comicola’ (www.comicola.com), Vietnam’s largest cartoon company, for the supply of cartoons and future businesses.
— AEC News Today/ PR Newswire (media release)

Vietnam urges China to import more agriculture produce
China should import more Vietnamese products, especially agriculture produce, so as to balance bilateral trade, PM Nguyen Xuan Phuc said Sunday.
— VnExpress

Vietnam puts high hopes on three business fields to develop in 4.0 era
Vietnam will gather strength in three production and business fields, considering these the pillars of the national economy in the 4.0 industry revolution era.
— Vietnam Insider

Vietnam: Need for logistics space at all-time high
The reliance and need for logistics space was at an all-time high, driven by advancements in the e-commerce sector, according to real estate and investment management services firm Jones Lang Lasalle (JLL).
— Borneo Bulletin

Tight monetary policy: where can businesses find funds?
A report from the H? Chí Minh Securities Company shows that bank interest rates have risen by 0.46 percentage points for short-term loans since the end of last year to 7-9 per cent and to 9-12.5 per cent for medium- and long-term loans.
— Viet Nam News

Vietnam’s core interests still ensured with CPTPP membership
Vietnam’s core interests will still be ensured after the country joins the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), Deputy Prime Minister and Foreign Minister Pham Binh Minh told the National Assembly on November 5.
— Nhan Dan Online

Vietnam surpasses annual sales targets
The Vietnamese cement industry has surpassed its annual sales target of 83-85Mt in the first 10-months of 2018, on the back of high demand in global markets. The country’s industry recorded a 51 per cent YoY increase in sales to 85.23Mt in the 10M18, according to the Ministry of Construction.
— Cemnet

Singaporeans dish second helping of Vietnam wind
Singaporean developer Blue Circle has completed construction of phase two of the Dam Nai wind farm in Vietnam bringing total capacity 40MW.
— Renews

Foreigners employed in Vietnam are required to pay social insurance
The Ministry of Labour, Invalids and Social Affairs and Vietnam Social Security (VSS) have been working with other countries on bilateral agreements to ensure the benefits to foreign workers employed in Vietnam who are required to pay social insurance.
— Vietnam Insider

French enterprises seeks investment chances in Vietnam
French Chamber of Commerce and Industry in Vietnam (CCIFV) on November 4 organized French-Vietnam Business Forum 2018 in HCMC attracting over 300 Vietnamese and French enterprises.
— Sggp News

Vietnam promotes traditional products in France
The event is among other cultural and tourism activities to celebrate the 45th founding anniversary of diplomatic relations and the 5th anniversary of the establishment of the strategic partnership between Vietnam and France.
— The Hanoi Times

Princess Cruises: Local digital habits disrupting sleep
Princess Cruises’ first global survey on relaxation and sleeping behaviors of people in 12 countries, including Vietnam, found that 60 per cent of Vietnamese check social media before going to bed and this is one of the highest numbers globally, second only to Indonesia, with 62 per cent.
— Vietnam Insider

Four Vietnamese women arrested in Malaysia nightclub raid
Four Vietnamese women were among 46 people detained as Malaysian authorities raided a Kuala Lumpur night club last week.
— VnExpress

Foreign funds want law changes to further invest in Vietnam
According to the funds, though the FOL is raised to 100 percent under Decree No.60/2015/ND-CP, it still prevents foreign investors from pouring funds into the conditional business lines.
— The Hanoi Times

Economy to hit 2019 and five-year growth targets
Fueled by major growth momentum this year and beyond, Vietnam is expected to hit its new growth target for next year, hoping to effectively materialise the target for the 2016-2020 period. Thu Ha reports
— VietnamNet Bridge

NA discusses extending pilot e-visa issuance to foreigners
The 14th National Assembly (NA) has discussed the extension of the implementation of Resolution No.30/2016/QH14, on the piloted issuance of e-visas for foreigners entering Vietnam, during their ongoing sixth session in Hanoi on November 5.
— VietnamPlus

Vietnam hosts training course for UN peacekeeping engineers
The Department of Peacekeeping Operations under the Ministry of National Defence opened a training course on the operation of heavy engineering equipment in Hanoi on November 5, as part of the Triangular Partnership Project.
— Nhan Dan Online

Public debt growth slows
The growth rate of public debts has recorded an annual decline from 18.4% in the 2011-2015 period to the current 10%, a senior official from the Ministry of Finance was quoted by Dan Tri news website as saying.
— VietnamNet Bridge

HCM City vows to strengthen Vietnam-Cambodia ties
Ho Chi Minh City will do its best to continue bolstering the sound neighborliness, traditional friendship, and comprehensive, durable and long-lasting cooperation between Vietnam and Cambodia, a municipal official said.
— VietnamPlus

Vietnam’s newest corridor to Europe
The EU-Vietnam Free Trade Agreement and the Investment Protection Agreement (IPA) between Vietnam and the EU have just been adopted by the European Commission and will be submitted to the European Council for official signature later this year, before approval in the European Parliament in early 2019.
— VietnamNet Bridge

Tackling FDI flaws, key to prosperity
According to Phan Huu Thang, former director of the Foreign Investment Agency under the Ministry of Planning and Investment, if prompt solutions were not taken, the dark side of FDI money would possibly outweigh the bright side.
— The Hanoi Times

Pharmaceuticals stay on course for stronger year-end
Despite some jitters, the business performance of Vietnam’s largest drugmakers took an uphill route in the first three quarters of 2018, with exports set to become a priority focus for many in the near future.
— VietnamNet Bridge

Vietnamese-Cambodian children in Phnom Penh start new school year
Children of Vietnamese Cambodians studying at the Khmer-Vietnam Tan Tien friendship primary school in Phnom Penh began their 2018-2019 school year on November 5.
— VietnamPlus

 

Feature photo Beyond Pesticides

This week’s Vietnam morning news feature photo acknowledges International Day for Preventing the Exploitation of the Environment in War and Armed Conflict, November 6.

 

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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