Vietnam Morning News For December 11, 2019

Vietnam greenlights $141 mln northern expressway
Deputy Prime Minister Trinh Dinh Dung has approved construction of VND3.27 trillion ($141 million) expressway connecting two northern provinces to serve rising travel demand.
— VnExpress

Vietnam’s banking sector is an attractive investment opportunity
It is a rare combination where Vietnamese banks are growing fast and are quite profitable, Harsh Modi, co-head of Asia ex-Japan for financials research at the investment bank, told CNBC.
— Vietnam Insider

Hanoi ranked second nationwide in number of enterprises
The ratio of enterprises to population in Hanoi stood at 1:38, nearly four times the national average at 1:144.
— The Hanoitimes

Vietnam-Laos trade in first 10 months reaches US$940 million
Trade between Vietnam and Laos in the first 10 months of this year hit US$940 million.
— New Straits Times

Vietnam Approves Labor Code for 2021
Vietnam has approved an amended Labor Code which will come into effect in January 2021. The amendment to the labor regulations are a step towards aligning with international labor standards particularly as Vietnam integrates into the world economy as noted by the International Labor Organization (ILO).
— Vietnam Briefing

Vietnam textile industry orders hit by African competition
Vietnamese textile manufacturers are seeing orders decline with buyers moving to others, cheaper developing countries.
— VnExpress

Vietnam among six nations worst hit by climate change in 20 years
Vietnam is one of six countries most affected by climate change between 1999 and 2018, according to survey results released this week.
— VnExpress

Focus the key as FM Logistic eyes new opportunities in Vietnam
Vietnam’s booming economy and surging domestic retail sector is creating big opportunities for contract logistics players.
— The load Star

Vietnam struggles to stay a trade war winner
Vietnam, widely regarded as one of the US-China trade war’s biggest winners, is stepping up efforts to prevent US-bound China-made goods from being transported through its territory to dodge US tariffs.
— Asia Times

Vietnam Airlines wants caps removed on domestic ticket prices
National flag carrier Vietnam Airlines has proposed that price caps on domestic air tickets be removed to allow carriers more pricing flexibility.
— VnExpress

Vietnam, EU in good position to further strengthen bilateral relations
Deputy Prime Minister and Foreign Minister Pham Binh met with Head of the delegation of the European Union (EU) to Vietnam, Ambassador Giorgio Aliberti in Hanoi on December 9.
— NDO

Foreign investors grasp more control overn Vietnam’s aviation market
Experts believed that the government’s decision on increasing foreign holding will be a springboard for foreign investors to penetrate into the Vietnamese burgeoning market.
— The Hanoitimes

Vietnam sales decline in November
New vehicle sales in Vietnam declined by 2.7% to 27,989 units in November 2019 from 29,709 units in the same month of last year, according to wholesale data released by the Vietnam Automotive Manufacturers Association (VAMA).
— Just-Auto

Surge in Vietnamese imports prompts calls for India duty review
The Indian government has been urged to review duties on the import of mobile device components from Vietnam by the India Cellular and Electronics Association (ICEA).
— Developing Telecoms

Fruit, vegetables exports see slight decrease
The export value of fruit and vegetables in the January-November period saw a slight decrease of 0.6 percent year on year to 3.5 billion USD, according to the Ministry of Agriculture and Rural Development.
— VietnamPlus

Legal framework for water supply essential in Vietnam
Tighter regulations are needed to ensure good quality water is sourced for years to come, according to Nguyen Thi Hong Khanh, from the Ministry of Construction’s Technological Infrastructure Department.
— VietnamPlus

HCM City, China’s Chongqing step up cooperation
Vice Chairwoman of Ho Chi Minh City People’s Council Phan Thi Thang hosted a reception for Vice Chairman of the Standing Committee of Chongqing Municipal People’s Congress Du Liming in Ho Chi Minh City on December 10.
— VietnamPlus

Vietnam’s national public services portal starts operation
The portal would help speed up administrative procedures, and ensure transparency, accuracy, efficiency and convenience for all parties involved.
— The Hanoitimes

Remittances to HCM City set to top $5 billion
Remittances to HCM City from overseas in the first 11 months of 2019 exceed US$4 billion, and are expected to top $5 billion for the year, according to the State Bank of Việt Nam.
— Viet Nam News

JP Morgan expects high growth and profitability from Vietnamese banks
It is a rare combination where Vietnamese banks are growing fast and are quite profitable, said an expert at JP Morgan.
— The Hanoitimes

Former U.S. President Barack Obama visits Saigon
Former U.S. President Barack Obama, who was on his second visit to Vietnam, on Monday called on Ho Chi Minh City Secretary Nguyen Thien Nhan.
— Vietnam Insider

Foreign investment increases in wood processing industry
Foreign direct investment in the wood processing industry has increased rapidly, especially since 2018, the Việt Nam Timber and Forest Product Association has said.
— Viet Nam News

The Ministry of Finance proposes reducing import tax on some foods
The ministry said consumers will benefit from tax reductions due to decreasing product prices.
— Viet Nam News

Taiwan electronics maker plans US$172 million Vietnam investment
Chaun-Choung Technology Corp., a Taiwan-based thermal management solution provider, has decided to invest US$172 million in Vietnam over the next seven years to expand its manufacturing network beyond Taiwan and China.
— Focus Taiwan

Vietnam active at 33rd conference of Red Cross & Red Crescent
Vietnam is attending the 33rd International Conference of the Red Cross and Red Crescent which kicked off in Geneva, Switzerland, on December 9.
— NDO

Tourists don’t have much to spend on in Vietnam: forum
Even as increasing numbers of tourists visit Vietnam, there is a lack of products and services for them to consume, industry insiders say.
— VnExpress

Vietnam’s audit agency eyes partnership with France
Auditor General of the State Audit Office of Vietnam (SAV) Do Duc Phoc has paid a visit to France to seek partnerships and learn from French auditing experience.
— VietnamPlus

Competition authority warns of online loan scams
The Ministry of Industry and Trade’s Vietnam Competition Authority (VCA) has warned local consumers to be cautious about taking out online loans amid rampant scams.
— VietnamPlus

Vietjet launches direct flights on Việt Nam-New Delhi routes
Vietjet is the first airline connecting the two biggest economic, cultural and tourist centres of Việt Nam and the capital of India.
— Viet Nam News

Interloan receives US$500K investment to provide unsecured loans to working professionals in Vietnam
Interloan, a P2P lending platform for salaried professionals in Vietnam, has secured US$500,000 in investment from Phoenix Holdings.
— e27

Competition authority warns of online loan scams
The Ministry of Industry and Trade’s Vietnam Competition Authority (VCA) has warned local consumers to be cautious about taking out online loans amid rampant scams.
— Viet Nam News

Vinachem to auction stake in Đức Giang Chemical Group
The Việt Nam National Chemical Group (Vinachem) has registered to auction all 11.45 million shares it holds in Đức Giang Chemical Group JSC (DGC), equivalent to 8.85 per cent of DGC’s capital.
— Viet Nam News

Better tourist experiences would lead to repeat visits: experts
Việt Nam still lags in the region considerably with regards to its tourist service and air transport infrastructure.
— Viet Nam News

Shares end on mixed note with unclear macro signals
Shares ended Monday on a mixed note with the growing momentum of the market weak without clear macro domestic and foreign signals.
— Viet Nam News

HCM City set to host Vietnam Young Leaders Forum
The 2019 Vietnam Young Leaders Forum to be held in HCM City on Friday is expected to create opportunities for young business and other people to learn from successful enterprises and start-ups.
— Viet Nam News

Province to develop facility to serve cruise ships
With cruise ships visiting Bà Rịa – Vũng Tàu having to dock at cargo ports, the province plans to build a new facility to serve cruise ships that bring cash-rich tourists to its shores.
— Viet Nam News

Masan MEATLife lists on UPCoM
More than 324.3 million shares of Masan MEATLife Joint Stock Company (code: MML) were listed on December 9 on the UPCoM market at a reference price of VNĐ80,000 (US$3.45) per share.
— Viet Nam News

Central city to see more three new direct flights
New daily regular air routes connecting the central city with Taiwan, Hong Kong and Singapore will be operating from December 12-20, offering more options for local and foreign tourists as well as businessmen travelling in the New Year.
— Viet Nam News

Start-ups must ‘go global’, says Grab’s Việt Nam chief
Overcoming human resources problems, understanding local cultures and finding reliable partners are needed for Vietnamese start-ups to “go global,” the CEO of Grab Financial Group Việt Nam has said.
— Viet Nam News

Feature photo Thai Hai / Legal Consulting Center Ho Chi Minh City

This week’s Vietnam morning news feature photo focuses on International Anti-Corruption Day, December 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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