Vietnam Morning News For December 23, 2019

Vietnam needs US$10 billion a year for energy sector
The deputy PM said Vietnam needs to mobilize domestic financial sources and credits to develop 8,000 megawatts per year.
— The Hanoitimes

Vietnam 32nd most powerful country in the world: report
Surpassing several of its Southeast Asian peers in the latest global power ranking, Vietnam proves key player on world stage.
— VnExpress

Cambodia’s King Signs Controversial Treaty Defining Border With Vietnam
Cambodia’s King Norodom Sihamoni has put into effect a treaty that would complete the demarcation line between Cambodia and neighboring Vietnam, drawing criticism from opponents of Prime Minister Hun Sen who say the move violates the country’s sovereignty.
— Radio Free Asia

Vietnam-linked hacking group targets Toyota, other companies
A Vietnam-based hacking group is learning from China’s playbook, using increasingly sophisticated cyber-attacks to spy on competitors and help Vietnam catch up to global competitors, according to cybersecurity experts.
— The Straits Times

Kingdom, Vietnam eye Single Window inspection facility
Cambodia and Vietnam are seeking to jointly establish a Single Window Inspection facility at the Bavet-Moc Bai Border Gate to ease traffic congestion and the flow of goods between the two nations.
— The Phnom Penh Post

Vietnam’s economy comes of age
Vietnam in Southeast Asia is one of the best growing economies in the region. The country has become an attractive destination for investment from all over the globe.
— Bangkok Post

Vietnam’s rice sector forecast to face difficulties in 2020
The Philippines and China, Vietnam’s two major rice export markets, may reduce rice imports in 2020.
— The Hanoitimes

Exporters warned of potential trade barriers under EVFTA
Vietnamese businesses should prepare to deal with potential trade barriers that could arise early next year when the European Union-Vietnam Free Trade Agreement (EVFTA) takes effect, experts have said.
— VietnamPlus

Vietnam Utility Dares Mekong Devastation
Inertia and the inherent tone-deafness of an authoritarian regime have set Vietnam on a course toward economic and political disaster. It is not too late, however, for the ruling party’s top leaders, the Politburo, to disavow support for state-owned PetroVietnam’s plans to build a huge dam on the Mekong River.
— Asian Sentinel

Vietnamese salary a seventh of regional median
The average wage in Vietnam is only one-seventh that of Asia Pacific, with a low ratio of skilled labor impeding productivity.
— VnExpress

VN to boost tourism development in protective, special-use forests
Developing tourism and services in protective and special-use forests in parallel with conservation will become a key part of the national economy in the future.
— Viet Nam Net

Founding anniversary of Vietnam People’s Army marked abroad
Defence cooperation is an important aspect in the India-Vietnam comprehensive strategic partnership, said Lt. Gen. Amarjeet Singh Bedi, Director General of India’s Defence Intelligence Agency.
— NDO

Education in Vietnam: Opportunities and Challenges
Vietnam has become a growing destination for foreign investment in Southeast Asia. The demand for high-quality education is reaching new heights, proving favorable opportunities for foreign investors looking to enter the market. Decree No. 86/2018/ND-CP (“Decree 86”), which was introduced in August 2018, to regulate foreign investment in the education sector in Vietnam, is expected to ease regulations allowing foreign-funded schools to enroll more students.
— Vietnam-Briefing

PM orders government agencies to review debt repayment delays
The Prime Minister has asked all state agencies who’ve delayed foreign debt repayment despite “having the money” to reflect on the damage caused.
— VnExpress

Thaibev refutes rumors on selling Sabeco to foreign investors
Vietnam continues to be one of Thaibev’s core markets and is an integral part to its goal of becoming a stable and sustainable leader in Southeast Asia’s beverage industry, stressed Thaibev.
— The Hanoitimes

Zuellig Pharma supports Việt Nam’s healthcare access with innovative packaging solution
Zuellig Pharma, the National Institute for Control of Vaccines and Biologicals (NICVB) and the National Institute of Hygiene and Epidemiology (NIHE) on Friday presented more than 600 eZCooler boxes to health service of six northern provinces.
— Viet Nam News

Japan actively involves in drafting Vietnam’s industrialization strategy
Foreign investment in six priority industries under the industrialization strategy accounted for 27% of total registered capital in Vietnam from 2013 to March 2019, focusing on electronics, automobiles and energy saving.
— The Hanoitimes

Moody’s confirms outlook downgrades for 15 Vietnamese banks
International credit rating agency Moody’s has lowered 15 banks’ credit outlook to negative after doing the same to the Government of Vietnam.
— VnExpress

Vietnam publicly showcases modern weapons
The exhibition displays modern weaponry, marking a rare move in the country in which military issues have not been normally publicized.
— The Hanoitimes

Gardeners in Hanoi gear up preparing bonsai trees for upcoming Tet holiday
A perfect kumquat tree full of fruits may cost around VND2 million (US$86).
— The Hanoitimes

Leading hospitality chain sues Da Nang authorities over demolition order
Hospitality chain Muong Thanh has sued Da Nang authorities for ordering the demolition of portions of its hotel and apartment complex in the city.
— VnExpress

Alibaba’s Ant Financial quietly acquires stake in Vietnamese e-wallet firm
Ant will not control more than 50% of eMonkey, but is expected to have significant influence and provide technical expertise to the e-wallet
— The Hanoitimes

Exchange rate likely to come under pressure in 2020: HSBC
Vietnam’s currency exchange rate might face pressures next year due to declining export growth, an HSBC official says.
— VnExpress

Flaring solar investment ruptures infrastructure in 2019
To capitalize on incentives, investors racing to complete solar power plants before June-end caused the national power grid to overload.
— VnExpress

Environment minister lists urgent measures to combat pollution
The Vietnamese environment minister has called for urgent measures to reduce air pollution, from improving monitoring system to changing people’s use of coal stoves.
— Vietnam Insider

How to spend a day in Vietnam’s central city of Hoi An?
The ancient town of Hoi An, 100km south, down the coast, is a much more beguiling place to spend a few days, with its lazy river lined with mustard-yellow merchants’ houses, and beaches a few kilometres away.
— Vietnam Insider

Vietnam caught pants down in gender gap ranking
Struggling to eliminate gender inequality, Vietnam falls 10 places to 87th in 2019 global ranking.
— VnExpress

Vietnam to boost tourism development in protective forests
Developing tourism and services in protective and special-use forests in parallel with conservation will become a key part of the national economy in the future, said Minister of Agriculture and Rural Development Nguyen Xuan Cuong.
— VietnamPlus

Domestic property market to have enough capital next year
Vietnam’s real estate market will not be short of capital next year but will still face many challenges from policies and administrative procedures, experts said at the annual Vietnam Real Estate Forum.
— VietnamPlus

Korean conglomerate sets up $860m investment fund for Việt Nam
The National Pension Service of Korea recently launched a US$860 million corporate partnership fund with the Korean conglomerate SK Group that will allow the latter to increase investment in Vietnamese firms Masan Group and Vingroup, according to the Korean Investors news outlet.
— Vietnam Insider

Death sentence proposed for former minister of Information and Communications
A death sentence for violations in a multimillion-dollar TV firm acquisition has been lodged against former minister of Information and Communications Nguyen Bac Son.
— Vietnam Insider

Construction work done, Hanoi metro gets ready to run
Construction work on Hanoi’s first metro line has been completed, only safety checks remain before commercial operations can begin, its project director says.
— Vietnam Insider

Vestas wins second contract for intertidal wind in Vietnam
Danish wind turbine manufacturer Vestas has announced a second order for a 50MW intertidal wind project in Vietnam, this time it includes a full engineering, procurement and construction (EPC) contract.
— Recharge News

Bonus Pay in the Philippines, Vietnam’s Tourism Sector – China Outbound
Employers in the Philippines should understand the obligations around the 13th month pay and Christmas bonuses.
— China-Briefing

Vietnam puts its advanced military might on show
Many new advanced Vietnamese military vehicles and equipment are on display at the Viet Bac Exhibition held in the northern Thai Nguyen Province.
— VnExpress

Electricity of Vietnam celebrates 65th anniversary of traditional day
The Electricity of Vietnam (EVN) held a ceremony in Hanoi on December 21 to mark its 65th anniversary of Traditional Day and receive the Labour Order, first class.
— NDO

Vietnamese products promoted in Myanmar
The 2019 Vietnam Expo in Myanmar, an annual trade promotion event, is taking place in Yangon City, from December 19-22.
— NDO

Vietnam sit on top of ASEAN in 2019
Vietnam end 2019 as the Southeast Asian No 1 team, following the December rankings released by FIFA on December 19.
— VietnamPlus

VN to join Microsoft’s network security protection programme
With increasing use of technology, Vietnam is facing risks in terms of cybersecurity, threatening national security, said Nguyen Minh Chinh, Director General of the Cyber Security and High-tech Crime Prevention Department under the Ministry of Public Security.
— VietnamPlus

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This week’s Vietnam morning news feature photo focus on Christmas Day, December 25.

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