Vietnam Morning News For December 19, 2019

World Bank sees Vietnam’s economy grow 6.8% in 2019
The World Bank (WB) expects that the Vietnamese economy will have expanded by 6.8% in 2019, with public debt reduced by nearly 8 percentage points of GDP since 2016 and a trade surplus for the fourth year in a row.
— NDO

Vietnam fights China’s ‘nine-dash line’ amid old enmities
Vietnam is pushing back on Chinese claims over the South China Sea targeting Beijing’s controversial nine-dash line.
— Aljazeera

A third of firms bribe tax authorities: study
30 percent of Vietnamese firms bribed tax officials last year for the latter to overlook possible violations and mitigate fines, a study has found.
— VnExpress

Việt Nam remains a top destination for cross-border investment
A survey of business leaders in the Asia Pacific region has revealed Việt Nam is a top destination for cross-border investment.
— Viet Nam News

Myanmar, Vietnam travellers to get 30-day visa-free visits to boost tourism
Myanmar and Vietnam travellers can visit each other’s country for 30 days without visas starting on January 1, a Ministry of Foreign Affairs official said on Tuesday.
— Myanmar Times

Vietnam Turning into Medical Tourism Destination for Dental, Cosmetic Care
Foreign tourists normally pour into Vietnam to see colonial architecture and limestone jutting out of the sea. Now some are headed to Vietnam’s clinics and hospitals. They’re part of Asia’s latest medical tourism industry.
— VOA

Vitamin drips: Malaysian clinic highlights sports, addiction and jet lag benefits
One of the latest celebrity trends sweeping wealthy, beautiful people involves a novel approach to taking vitamins and supplements, but a Malaysian clinic is also touting the benefits for more down-to-earth consumers.
— Nutraingredients

Stop accepting new solar plant proposals, trade ministry says
The Ministry of Industry and Trade has called on provinces and Vietnam Electricity to stop accepting proposals for new solar power plants.
— VnExpress

Retail, banking sectors see big-ticket M&A deals in 2019
Acquisitions worth well over a billion dollars took place this year in retail and banking, and the trend could persist in 2020, experts say.
— VnExpress

Lao Cai to link ASEAN-China economic relations
The northern mountainous province of Lao Cai was set to become a bridge connecting economic and external relations between Vietnam, ASEAN countries and the southwest of China, Deputy Prime Minister Trinh Dinh Dung said last week.
— VietnamPlus

Eight Vietnam universities find place in world’s top 2,500 list
Vietnamese higher education is on a roll, with eight universities making the list of the world’s top 2,500 in terms of academic performance.
— VnExpress

Vingroup quits retailing to drive tech, industrial development
Vingroup, Việt Nam’s largest private firm by market value, has given up control of its retail unit as it wants to concentrate on the technology and industrial sectors.
— Viet Nam News

MoIT launches sites to deal with e-commerce disputes, counterfeit goods
Counterfeit goods have always been a major concern in Việt Nam. Whether it’s fashion items, electronic equipment, or even medicine, the problem of authenticity is often an issue.
— Viet Nam News

Vietnam, Japan enhance parliamentary ties
Vice Chairwoman of the National Assembly Tong Thi Phong and Vice President of the House of Councillors of Japan Ogawa Toshio agreed to promote parliamentary cooperation between the two countries during their talks in Hanoi on December 18.
— NDO

High-tech supply chain the key to sustainability for VN agriculture: experts
New technologies are key to advancing the agriculture sector since they can boost the value of products to make them more competitive on the global market, experts said.
— Viet Nam News

Total of $206 million needed to expand Điện Biên Airport
The total investment in the Điện Biên Airport is estimated at about VNĐ4.8 trillion (US$206 million), said the Airport Corporation of Việt Nam (ACV) on Tuesday.
— Viet Nam News

Garment, textile export falls short of target but surplus impressive: VITAS
Việt Nam’s garment and textile exports were estimated at US$39 billion this year, slightly falling short of the $40 billion target, according to the Việt Nam Textile and Apparel Association (VITAS).
— Viet Nam News

Vietnam funded border market to begin trade
After a year of construction, the $2-million, Vietnam-funded border market in Tboung Khmum province will have its official launch next Tuesday, the government announced on Monday.
— Khmer Times

Mergers and Acquisitions in Vietnam – Latest Issue of Vietnam Briefing Magazine
The latest issue of Vietnam Briefing Magazine, titled “Mergers and Acquisitions in Vietnam”, is out now and currently available to subscribers as a complimentary download in the Asia Briefing Publication Store.
— Vietnam-Briefing

Vietnam committed to opening door in service sector
Vietnam is committed to opening door for foreign investors, especially in the field of services, according to the roadmap in signed bilateral and multilateral free trade agreements.
— NDO

Vietnam to promote ASEAN’s interests, prosperity in 2020
As Chair of the Association of Southeast Asian Nations (ASEAN) in 2020, Vietnam will be responsible for promoting and increasing ASEAN’s interests and prosperity, Vietnamese Deputy Foreign Minister Nguyen Quoc Dung has said.
— NDO

Vietnam’s Posco SS Vina sells rebar line to focus on steel sections business
Vietnam-based Posco SS Vina, a maker of long steel products, has sold its rebar production line to focus on its steel sections business, a source close the company said Wednesday.
— S&P Global

Eighth bank cleared all bad debts at VAMC
Kiên Long Bank has become the eighth bank to clear all bad debts they had previously sold to the Việt Nam Asset Management Company (VAMC) before the maturity date, VAMC announced on Tuesday.
— Viet Nam News

HDBank opens representative office in Myanmar, ties up with Viettel
The Ho Chí Minh City Development Joint Stock Commercial Bank, HDBank, on December 18 opened a representative office in Myanmar and signed a comprehensive co-operation agreement with Viettel Global Investment JSC, which are expected to help promote economic growth, trade and investment.
— Viet Nam News

Japan to import Vietnamese lychees
Japan has officially opened its doors to the import of Vietnamese lychee.
— Viet Nam News

VN-Index rises 7 per cent this year but new listing on HOSE declines sharply
Việt Nam’s stock market has grown modestly this year but shrinking inflows has made new listings less buoyant than expected.
— Viet Nam News

Lào Cai rejects investment projects causing environmental pollution
The northern mountainous province of Lào Cai has recently rejected two investment projects that have high potential to cause negative impacts on the environment, especially in Bảo Thắng District’s Tằng Loỏng industrial park.
— Viet Nam Net

Export of tra fish expected to reach $2.06 billion this year
Việt Nam’s export of tra fish is forecast to reach US$2.06 billion this year, decreasing by 9 per cent year-on-year, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
— Viet Nam News

Nexif Energy buys two hydropower projects in Vietnam
Singaporean-Australian company Nexif Energy has acquired a 94 percent stake in Song Giang Hydropower JSC, which owns two hydropower plants in Vietnam.
— VnExpress

Air New Zealand offers discounted tickets on VN-Christchurch route
The inaugural flight between Việt Nam and Christchurch via Singapore took off earlier this month, marking the start of its five times weekly seasonal service, which will operate until February 22, 2020.
— Viet Nam News

Investment wave from Korean enterprises
A recent survey by the Korea Trade-Investment Promotion Agency (KOTRA) showed that 93 percent of Korean enterprises operating in Vietnam expressed satisfaction when investing in the country.
— Sggp News

Enterprises pledge to stabilize pork prices
The Department of Industry and Trade of Ho Chi Minh City on December 17 had a meeting with relevant departments to seek for solutions to stabilize the price of pork from now to lunar New Year.
— Sggp News

Meeting of Lancang-Mekong Water Resources Cooperation held
The Ministerial Meeting of Lancang-Mekong Water Resources Cooperation took place in Beijing on December 17, with the participation of six countries, Cambodia, China, Laos, Myanmar, Thailand and Vietnam.
— NDO

New emissions standard to come into force next year
More than 2.4 million of cars manufactured since 2008 will have to meet new emission standards from early next month.
— Viet Nam Net

Việt Nam committed to opening door in service sector
Việt Nam is committed to opening door for foreign investors, especially in the field of services, according to the roadmap in signed bilateral and multilateral free trade agreements.
— Viet Nam News

Bahamas investor sells off stake in Vietnamese detergent company
America LLC has sold its entire 9.33 percent stake in Vietnamese detergent powder producer NETCO.
— VnExpress

Condotels: risky yet promising property segment
Investment in condotels remains appealing despite defaults in profit commitments by property developers, but a clear legal framework is needed to protect investors’ rights, according to experts.
— Viet Nam News

Việt Nam needs more reforms: VCCI
Việt Nam’s reform process needed to step up a gear in order for the country to become one of the top four in ASEAN in terms of business climate
— Viet Nam News

Saigon Newport Company welcomes 5 millionth TEU
The same day, SNP announced it had fulfilled its business targets for the year 15 days in advance.
— Viet Nam News

Petrol prices drop slightly in latest review
The retail prices of petrol were reduced as from 3pm on Monday 16.
— Viet Nam News

Orange lovers indulge in Nghệ An Orange and Specialties Week
Orange lovers will be able to indulge in the Nghệ An Orange and Specialties Week, which opened on Tuesday evening at the Big C Thăng Long supermarket in Hà Nội.
— Viet Nam News

Prolonged caution pulls VN stocks for a third straight day
Vietnamese shares contracted Tuesday as investors waited for a clearer market outlook amid the upcoming year-end holiday.
— Viet Nam News

Reforms needed to unleash potential of capital market
Although progress has been realised by Việt Nam in recent years, the country is still unable to finance all the needs of its hungry productive sector, including private firms and SOEs.
— Viet Nam News

Feature photo People’s Army Newspaper

This week’s Vietnam morning news feature photo focus on International Human Solidarity Day, December 20.

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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