Vietnam morning news for August 6

Vietnam morning news for August 6

Vietnam morning newsVietnam Spends Less Importing More Steel In 7 Months
Vietnam spent nearly 5.7 billion US dollars importing 8.4 million tonnes of steel and iron between January and July, down 2.4% in value but up 4.5% in volume against the same period last year.
— Steelguru

Five products to see stronger export to EU: ministry
Five key exports of Vietnam – seafood, fruit, woodwork, footwear and apparel goods – will have a good chance to boost their growth into the EU market thanks to tariff reduction brought about by the EU – Vietnam Free Trade Agreement (EVFTA), according to the Ministry of Industry and Trade.
— VietnamPlus

Vietnamese police disrupt funeral of Catholic lawyer who fought corruption
Victims of alleged land-grabbing in southern Vietnam’s Ho Chi Minh City have accused local authorities of seriously disrupting a relative’s funeral.
— UCA News

VN imports of US goods shoot up
Vietnamese imports of US consumer goods and feedstock in the first seven months has shot up from the same period last year.
— Viet Nam News

Vietnam’s textile and garment under pressure to qualify for EVFTA’s rules of origin
Nearly 90% of the input materials for the industry is currently being imported from countries which are not members of the EU or those which the bloc has signed trade deals with.
— The Hanoitimes

Sharp announces new production plant in VN
The plant will produce air purifiers, LCD displays and electronic devices from fiscal 2020, the company said in a press release last week. But it did not disclose the cost of building the factory.
— Viet Nam News

HCM City speeds up development of logistics sector
Ho Chi Minh City is making efforts to improve its logistic services to create a driving force for its economy as well as that of the southern key economic region.

State Treasury to become digital in next ten years
The State Treasury of Việt Nam will set up an effective and transparent treasury system in the next ten years, said General Director Tạ Anh Tuấn.
— Viet Nam News

Bus subsidies cost HCMC $21 mln
HCMC has provided subsidies of VND494 billion ($21.3 million) to operate public buses in the first eight months of the year.
— VnExpress

Tax cuts reduce the burden for enterprises
Đậu Anh Tuấn, head of the Việt Nam Chamber of Commerce and Industry’s Legal Division, speaks to Hải Quan (Customs) newspaper on the Government’s decision to reduce the corporate tax for enterprises – good news for small- and medium-sized enterprises nationwide.
— Viet Nam News

Việt Nam wants to have 10 tech “unicorns” in 2030
Việt Nam wants to have at least five billion-dollar tech firms (unicorns) by 2025 and 10 by 2030 as planned in its draft on national strategy on the Fourth Industrial Revolution.
— Viet Nam News

Textile firms go green to boost export
The Vietnam Textile and Apparel Association said that textile exports is expected to exceed US$40 billion this year, especially amid the context that the EU-Vietnam Free Trade Agreement has been signed.
— Sggp News

Vietnam becomes a winner in growing global electronics supply chain
Prime Minister Nguyen Xuan Phuc admitted although Vietnam has gained initial success in global supply chains, Vietnamese businesses have mainly joined these chains in fields such as assembling or product packaging, which are lower in value and lack sustainability in supply chains.
— The Hanoitimes

Vietnam in compliance with UN sanctions on N. Korean workers abroad, gov’t says
More than half of the North Korean laborers at work in Vietnam have been sent home since UN Security Council (UNSC) sanctions requiring their repatriation were passed in late 2017, Hanoi said in a recent implementation report to the UN.
— NK News

India, Vietnam concur on East Sea oil and gas cooperation
India and Vietnam are on the same East Sea page and keen to continue oil and gas cooperation, senior officials say.
— VnExpress

Banks rush to cash in on Vietnam’s FDI boom: The Banker
Vietnam has seen a boost from investment moving out of China, significantly increasing its foreign direct investment levels. Peter Janssen (The Banker) looks at how international and domestic banks are grabbing a share of this growing business.
— Vietnam Insider

The 19-year-old Student becomes Miss World Vietnam 2019
The 19-year-old student at the Foreign Trade University in Vietnam’s capital Hanoi, Luong Thuy Linh happened to be Miss World Vietnam 2019 on Saturday night after winning a Vietnamese beauty competition.
— Vietnam Insider

State Financial funds should be restructured for efficiency
The operation of some State financial funds have overlapped with the State Budget in terms of purpose and tasks, experts have warned.
— Viet Nam News

Potential service disruptions at Hong Kong International Airport warned
National flag carrier Vietnam Airlines has warned of possible disruptions of flights from/to Hong Kong International Airport in the wake of demonstrations in Hong Kong (China) going on since last month.
— VietnamPlus

Long An seeks FDI boost to industrialisation plans
A favourable geographic location, abundant resources and a dynamic and investor-friendly administration make Long An an optimal destination for foreign direct investment.
— Viet Nam News

Vietnamese Navy to be prepared in all circumstances
Political Commissar, Rear Admiral Phạm Văn Vững from the Việt Nam People’s Navy talks to Vietnam News Agency on the application of historical lessons obtained 55 years ago from the first victories the navy has made in the Gulf of Tonkin to today’s context of national defence.
— Viet Nam News

Several dead, missing as Tropical Storm Wipha slams into Vietnam
Heavy rain reported in northern Vietnam over the weekend, with more rain expected to cause flooding on Monday.
— Aljazeera

January to July retail sales gain 11.6 per cent
Total retail sales of goods and services in Việt Nam in the first seven months of the year rose 11.6 per cent from the same period in 2018 to reach VNĐ2.85 quadrillion (US$122.5 billion).
— Viet Nam News

Siam City Cement Vietnam signs US$468m investment agreement with Kien Giang province
Kien Giang province has signed an investment cooperation agreement with Siam City Cement Vietnam, part of the Thailand-based Siam City Group, for a cement plant in Kien Luong district. The agreement represents an investment of VND10.89trn (US$468m) for both a limestone and clay mining project as well as a clinker line.
— Cemnet

Saigon campaign against foreigners violating traffic laws underway
The Ho Chi Minh City police are set to crack down on violations of traffic laws by foreigners in a campaign starting August 16.
— VnExpress

Vietnam probing MDF dumping allegations
The Vietnamese authorities are investigating alleged dumping of medium density fibreboard (MDF) by Malaysia and Thailand.
— New Sarawak Tribune

Ensuring synchronous post-customs clearance inspections
Post-customs clearance inspection is an important activity of customs agencies in order to properly control export-import activities, prevent smuggling and trade fraud, and help prevent revenue losses for the government.

Domestic market woos foreign investors
Representatives of over 550 enterprises working in food and beverages and 400 others in medicine and pharmaceuticals from 350 countries will arrive in Vietnam from August 7 – 10 to explore business opportunities, according to the Ministry of Industry and Trade.
— VietnamPlus

Industrial production gains stable growth in seven months
Việt Nam’s index of industrial production (IIP) rose by 9.4 per cent year-on-year in the first seven months of this year, according to the General Statistics Office (GSO).
— Viet Nam News

Vietnamese businesses urged to join circular economy
Vietnamese businesses cannot stand outside the circular economy, especially in the context of global economic integration with commitments on ecological and environmental safety standards through free trade agreements.
— Viet Nam News

Fair on trade and tourism under-way in Đà Nẵng
The International East-West Economic Corridor (EWEC) Trade and Tourism Fair is taking place in the central coastal city of Đà Nẵng, featuring 500 booths from more than 360 domestic and international exhibitors.
— Viet Nam News

State Financial funds should be restructured for efficiency
The operation of some State financial funds have overlapped with the State Budget in terms of purpose and tasks, experts have warned.
— Viet Nam News

Bad debts on the rise in H1 2019
Though many banks have posted positive profits in the first half of 2019, their bad debts have continually increased in the wake of high credit growth in risky business segments.
— Viet Nam News

Keep an eye on core inflation: analysts
Some experts have said recently there is an excessive money supply in the economy.
— Viet Nam News

Vietnam announces new team entry in Clipper 2019-20 Race
Following a high profile signing ceremony this morning, it has been revealed that the Quang Ninh Province, in northeast Vietnam, has signed a two edition deal with the Clipper Race.
— Sail World

Japan’s Nomura Real Estate drives Asian expansion with Vietnam deal
Japanese property group Nomura Real Estate has bought the Zen Plaza office building in Ho Chi Minh City (HCMC), as the firm expands further throughout Asia.
— APAC Real Estate

RI, Vietnam reach for $10b trade in 2020
Indonesian Ambassador to Vietnam Ibnu Hadi has expressed confidence that trade between Indonesia and Vietnam will reach US$10 billion by 2020.
— The Jakarta Post

Vietnam Rideshare Be Group Adds Delivery To Challenge Grab, Go-Viet
Ride-hailing firm Be Group in Vietnam is launching two delivery services to compete with Grab and Go-Viet, Deal Street Asia reported on Monday (Aug. 5).
— pymnts

Gold market demand quiet despite recent strong gains
Gold prices on global markets have made strong gains in the past two months, but investors with short-term appetite seem uninterested in gold.
— Viet Nam News

Significant role of enterprises, cooperatives in promoting North, South’s fruits
According to the Department of Crop Production under the Ministry of Agriculture and Rural Development, the North has 393,000 hectares of land for planting fruit, accounting for 39.73 percent with more than 7,900 hectares of VietGAP fruits mostly oranges, lychees, mangoes, longans.
— Sggp News

Urban areas see boom in Japanese restaurant chains
Japanese investors are pouring money into hundreds of restaurants in Việt Nam as local incomes continue to rise around the country.
— Viet Nam News


Feature photo The Paper Planes Blog

This week’s Vietnam morning news feature photo focus on International Day of the World’s Indigenous Peoples,  August 9.


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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