Vietnam morning news for August 1

Vietnam morning news for August 1

Vietnam morning newsVietnam will face severe power shortages from 2021 – ministry
Vietnam will contend with severe power shortages from 2021 as electricity demand outpaces the construction of new power plants in the Southeast Asian country, Vietnam’s Ministry of Industry and Trade told Reuters on Wednesday.
— Macau Business

Foreign interest in Việt Nam’s LNG sector remains high
Foreign investors are diving into developing liquefied natural gas (LNG) and gas-fired power projects in Việt Nam, in part due to country’s growing demand for electricity.
— Viet Nam News

Cambodia, Vietnam to collaborate in smart cities
The Agence Kampuchea Presse reported that the issue was among the major topics discussed during a meeting between Pa Socheatevong, Phnom Penh Municipal Council president, and a visiting delegation from Vietnam headed by Nguyen Thi Le, deputy secretary of Ho Chi Minh City Party Committee.
— Khmer Times

Vietravel explores $30 million bond issuance for aviation projects
Local tour operator Vietravel is collecting shareholder opinions on its plan to issue non-convertible bonds worth VNĐ700 billion (US$30 million) to provide supplementary capital for the establishment of Vietravel Airlines.
— Viet Nam News

Vietnam Might Be the Next iPhone Manufacturing Center
Due to the trade war between the United States and China, companies are looking to put their eggs into more baskets. Vietnam could be one of them.
— Mac Observer

Hanoi urged to increase patrol in South China Sea to protect fishermen from Chinese harassment
Vietnamese fishermen must be better protected from Chinese harassment, a society has said.
— The Hanoitimes

Rubber group sees both revenue and profit rise
The figures represent 31.4 per cent of the revenue target and 25.5 per cent of the profit target for this year.
— Viet Nam News

Four Vietnamese firms in Forbes Asia’s ‘Best Under A Billion’ list
Bình Dương Minerals and Construction Joint Stock Company, Đất Xanh Group, Đa”ng Nai Port Joint Stock Company and Phú Tài Joint Stock Company were all listed.
— Viet Nam News

Indonesia, Vietnam seek middle ground
Indonesia and Vietnam have begun talks on a “provisional arrangement” to prevent any further maritime skirmishes as they try to settle their overlapping claims to economic borders, which have been a source of tension between the Southeast Asian neighbors.
— The Jakarta Post

Vietnam ETF: Opportunity Knocks
The VanEck Vectors Vietnam ETF (VNM) is up more than 11% this year and has been highlighted as a winner in the US/China trade spat, but some market observers see more potential upside in shares of Vietnamese companies.
— etftrends

Vietnam, Thailand intensify political-enhance cooperation
The Vietnam-Thailand Joint Working Group on Politics and Security (JWG) convened its 11th meeting in Hua Hin, Thailand, on July 31.
— VietnamPlus

Ministries, gov’t agencies fail to disclose spending details
Twenty of total 37 ministries and central government agencies receiving funding from the State budget disclosed no information about expenses in 2018, a report revealed on July 30.
— VietnamPlus

Grab bets on Vietnam, Malaysia in bid for super app status
Leading Southeast Asian ride-hailing operator Grab is investing heavily in smaller regional startups as the SoftBank Group-backed unicorn strives to expand the reach of its all-in-one app.
— Nikkei Asian Review (paywall)

Vietnam’s NextTech Group launches $10m fund to focus on early-stage deals
Vietnam technology company NextTech Group of Technopreneurs has launched a $10-million early-stage-focused fund with a hybrid model with a combination of venture builder, ecosystem and venture capital.
— DealStreetAsia

No more import of red chillies from Vietnam till year end
THERE will be no more import of red chillies from Vietnam permitted until the end of this year, said Deputy Minister of Agriculture and Agro-Based Industry Sim Tze Tzin.
— Daily Express

Vietnam’s Solar Drive
Vietnam has witnessed a huge rush in solar PV projects development as the validity of attractive feed-in-tariff (FIT) rates ended on 30 June 2019. According to the Vietnam Electricity Group (EVN) as of 30 June, a total of 82 solar power plants with a cumulative capacity of 4.46GW had been connected to the national grid.
— Power-technology

Vietnam Rushes to Adopt 5G
But Vietnam lacks the crucial industries and talent to maximize the technology’s potential.
— The Diplomat

Vietnam’s Balance Between Great Powers May Start Skewing West
The U.S.-China trade war has escalated Vietnam’s move up the industrial value chain in recent years by more deeply integrating Hanoi’s economy with manufacturers seeking refuge from the fallout.
— Stratfor

How many airlines should Vietnam have?
The move by Vingroup to establish Vinpearl Air once again shows the attractiveness of the domestic aviation market.
— Viet Nam Net

PM requests design of middle-term public investment plan
Prime Minister Nguyen Xuan Phuc has asked ministries, ministry-level and central agencies as well as centrally-run localities to make middle-term plans for public investment in the 2021-2025 period.
— NDO

Vietnamese prefer cash to credit cards when traveling abroad
Up to 60.1 percent of Vietnamese used foreign cash, while 50.3 percent went for credit cards when traveling abroad, a report says.
— VnExpress

Made-in-Vietnam cars have just hit the market
Vietnam aims for Thailand’s auto-making crown as VinFast, the Made-in-Vietnam cars have just hit the market, the first step in Hanoi’s grand plan to become a new auto-production hub
— Vietnam Insider

Kiên Giang approves 20 projects worth total $2 billion
The Mekong Delta province’s authority also signed investment co-operation agreements with 25 investors for 36 projects with total registered capital of more than VNĐ150 trillion.
— Viet Nam News

AEON Việt Nam promotes local products to help them enter supply chain
Japanese retailer AEON Việt Nam Co.,Ltd is seeking to increase the number of local businesses in its supply chain system in Việt Nam.
— Viet Nam News

Banks step up bad debt recovery in 2019
According to a representative of Sacombank, the lender has recovered bad debts worth more than VNĐ11 trillion (US$472 million) in the first half of the year.
— Viet Nam News

Highlights of Vietnam’s economy in H1/2019
Vietnam`s economy kept growing track in the first half this year with maintained GDP growth rate and stable CPI.
— The Hanoitimes

IndiGo announces daily flights to Vietnam
IndiGo on Tuesday announced non-stop daily flights between Kolkata and Vietnam’s capital city, Hanoi, from October 3.
— The Hindu

Dozens of live pangolins found hidden on bus in Vietnam
Dozens of live pangolins smuggled from Laos were discovered “dehydrated and weak” on a bus in central Vietnam, police and conservationists said Tuesday, in a country where the endangered mammals are a highly-prized delicacy.
— Telegraph

Chinese Embassy in Vietnam marks 92nd anniversary of PLA founding
The Chinese Embassy in Vietnam hosted a reception here on Tuesday evening to celebrate the 92nd anniversary of the founding of the Chinese People’s Liberation Army (PLA) which falls on Aug. 1.
— Xinhua

Vietnam a magnet for South Korean travelers: report
Vietnam is among the top three overseas travel destinations for South Koreans in 2019, a new report says.
— VnExpress

Vietnam attends Asean Senior Officials’ Meeting ahead of AMM-52
A delegation from Vietnam led by Deputy Foreign Minister Nguyen Quoc Dung attended the Asean Senior Officials’ Meeting (SOM) in Bangkok, Thailand on Monday.
— Eleven Myanmar

Nomura Real Estate acquires 14-story office tower in Vietnam
Nomura Real Estate Development acquired the 14-story Zen Plaza building in Vietnam’s Ho Chi Minh City in July, also buying the company that owns the tower.
— Nikkei Asian Review (paywall)

Nearly VND200 trillion invested in projects in Kien Giang
Kien Giang province has just handed over investment certificates and decisions to 18 investors for 20 projects with total capital of VND43,385 billion; and signed an investment cooperation agreement with 25 investors for 36 projects with total registered capital of over VND150 trillion.
— NDO

Proptech gains popularity in Vietnam: JLL
Proptech or property technology is gaining popularity in Vietnam thanks to benefits in improving accuracy and speed, cost savings and convenience, according to JLL – leading professional services firm that specializes in real estate and investment management.
— The Hanoitimes

Vietnam – EU Trade Forum opens in Ho Chi Minh City
The Vietnam – EU Trade Forum in 2019 with the theme “EVFTA: New horizon for extensive and comprehensive cooperation” opened in Ho Chi Minh City on July 30.
— NDO

Nearly 107,000 mobile subscribers switch networks in July
Nearly 107,000 out of 164,871 or 70.7 percent of mobile service subscribers that registered to change their networks performed the procedures successfully and retained their numbers from July 1-28, according to statistics from major service suppliers.
— VietnamPlus

My Lai: Ghosts in another Vietnam wall
Two walls have brought me to tears. They are on opposite sides of the world, 8,600 miles apart. Both are filled with names of people I never knew but who have helped shaped the person I have become.
— Vietnam Insider

Vietnam, Indonesia’s top diplomats share joint stance on South China Sea issues
Both Hanoi and Jakarta highlight the importance of cooperation amid Chinese-caused troublesome situation in the South China Sea.
— The Hanoitimes

HCM City retail sales remain strong
HCM City’s retail sales and services grew by 12.2 percent year-on-year in the first half to nearly VNĐ 600 trillion (US$25.8 billion), according to its Department of Industry and Trade.
— Viet Nam News

Wipha, new tropical storm threatens northern Vietnam
Tropical Storm Wipha, which formed west of the Philippines, will have ideal conditions to further strengthen before reaching southeastern China later this week.The tropical storm lay centered 230 kilometers northeast of Vietnam’s Paracel Islands.
— Vietnam Insider

Up-coming seminar: “Việt Nam-US direct route: ready for taking off”
The Việt Nam Association on Aviation Science and Technology and Bamboo Airways plan to hold a seminar on opportunities and challenges when opening Việt Nam – US direct flights.
— Viet Nam News

PM works to ensure funding for expressway project
Prime Minister Nguyen Xuân Phúc asked contractors to return to work on the Trung Lương- Mỹ Thuận Expressway Project in a meeting yesterday in Hà Nội.
— Viet Nam News

500 businesses to take part in Hà Nội promotion month
About 500 businesses will take part in the Hà Nội Sales Promotion Month, offering promotions to spur purchasing.
— Viet Nam News

Việt Nam’s new FTA with EU a “role model” for ASEAN members
Việt Nam is expected to become a “role model” for other countries in the ASEAN region when its free trade agreement with the EU takes effect early next year, a EuroCham official has said.
— Viet Nam News

Tra Vinh applies advanced technology in super-intensive shrimp farming
The Department of Agriculture and Rural Development of the Mekong Delta province of Tra Vinh is running a high-tech project to boost the capacity of the local super-intensive farming model for white-leg shrimps.
— VietnamPlus

Long Thành Airport to be equipped with modern technologies
Long Thành International Airport, one of Việt Nam’s key projects, will make use of the most advanced technologies to reach the service quality and flying safety standards of the world’s leading airports.
— Viet Nam News

VN stocks mixed as investors wait
Vietnamese shares closed Wednesday morning on a mixed note as traders were still looking for profits rather than making investments.
— Viet Nam News

Brand new aviation training centre in Vietnam is ready to open
BAA Training Vietnam – a European standard aviation training provider announces the completion of the construction of a brand new modern aviation training centre in Ho Chi Minh city. 3000-square-meter, strategically located 18km from the airport training facility is designed to accommodate 4 full flight simulators and fulfil the need of the professional aviation training in the region.
— Aero Times

Lộc Trời Group expands organic agricultural production
The programme aims to ensure efficiency and sustainability for modern agriculture and thereby improve the value of Vietnamese rice.
— Viet Nam News

Korean investors worry about lack of skilled workers in Bình Dương
A shortage of skilled workers is among the biggest problems they face, South Korean companies told authorities in the southern province of Bình Dương.
— Viet Nam News

July CPI slightly increases
The national consumer price index (CPI) in July grew 0.18 per cent from the previous month and 2.44 per cent year-on-year, according to the General Statistics Office (GSO).
— Viet Nam News

Train-coach collision kills 3, injures 1 in central Vietnam
A train hit a 16-seater coach in Vietnam’s central Binh Thuan province on Wednesday morning, killing three local people and leaving one injured, Vietnam News Agency reported.
— Xinhua

Quảng Ninh works to preserve Hạ Long Bay
Near Hạ Long Bay, experts discussed environmental pollution during a question-and-answer session of the Quảng Ninh People’s Council yesterday.
— Viet Nam Net

 

Feature photo Anti-Slavery International

This week’s Vietnam morning news feature photo focuses on World Day against Trafficking in Persons, July 30.

 

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).

 

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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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