Vietnam Morning News For December 26, 2019

Vietnam loses around $432 million a year due to cigarette smuggling
Vietnam loses tens of trillions of dong (VND10 trillion = $432 million) a year due to cigarette smuggling, a long-standing problem.
— Vietnam Insider

Vietnam logistics firms pressured to grow or face being taken over in EVFTA era
Vietnam’s targets of becoming Asia’s logistics hub would only be feasible if local firms can fence off competition from the world’s major logistics players.
— The Hanoitimes

Vietnam decreased by 14 notches in Total Workforce Index 2019
Vietnam has descended from 43rd to 57th in the latest Total Workforce Index (TWI) created by the American recruitment firm ManpowerGroup.
— Vietnam Insider

Vietnam’s imported cars up 95% in Jan-Nov
Vietnam imported 133,696 cars in the first 11 months of 2019 for nearly US$2.91 billion, up 95.6% in quantity year-on-year, according to the General Department of Vietnam Customs (GDVC).
— The Hanoitimes

PM urges Vietnam Electricity to ensure adequate power for socio-economic development
Vietnam Electricity (EVN) should ensure there’s enough power for socio-economic development and avoid power shortages no matter any circumstances.
— NDO

VN beauty market boasts ‘excellent’ growth potential
The personal care sector has enjoyed strong growth of 7 per cent a year on average, higher than the fast moving consumers goods (FMCG) market, thanks to the skincare and make-up segment, according to a study by global data and consulting company Kantar Worldpanel.
— The Phnom Penh Post

Vietnam seizes two tonnes of ivory, pangolin scales
Vietnamese authorities have seized more than two tonnes of pangolin scales and ivory from Africa, state media reported on Tuesday.
— Reuters

State firms make up 5% of total corporate loans in Vietnam
A major proportion of bank loans are provided for the business community, particularly the private sector and individuals.
— The Hanoitimes

State agencies’ websites most vulnerable to cyberattacks
Vietnam reports an average of 26 cyberattacks per day, with governmental agencies, banks and e-commerce websites the most vulnerable.
— VietnamPlus

EVFTA to boost logistics industry development
The EU-Việt Nam Free Trade Agreement (EVFTA) will boost the demand for logistics services and significantly impact on the Việt Nam’s logistics industry.
— Viet Nam News

In Vietnam, Christmas brings joy to shoppers, retailers alike
Vietnam may not be considered a Christian country. With a population topping 96 million, only seven million people are estimated to practice Christianity.
— Inquirer.net

Trade promotion to focus $5.8m on key markets
Việt Nam is planning to launch a VNĐ136 billion (US$5.8 million) trade promotion programme in 2020, focusing on expanding key markets and enabling Vietnamese firms to join global value chains.
— Viet Nam News

The first Cambodia-Vietnam model border market was inaugurated
Da market, the first Cambodia-Vietnam model border market, was inaugurated and handed over to Cambodia’s Tbong Khmum province on December 24 as a gift from Vietnam.
— Vietnam Insider

Vietnam’s Fast Capital Solution supports the acquisition of Song Giang hydropower project
Nexif Energy just announced the successful closing of a share purchase transaction with shareholders of Song Giang Hydro Power Joint Stock Company where Nexif Energy has acquired 94% of the equity of the Song Giang Hydropower JSC, a company that owns two run-of-river hydropower projects in cascade on the same river totaling 49MW in the Khanh Hoa province of Vietnam.
— Vietnam Insider

Vietnam PM holds phone talk with Russian counterpart, focusing on oil cooperation
PM Nguyen Xuan Phuc said Vietnam will facilitate Russian-invested oil and gas projects.
— The Hanoitimes

PM: Da Maket to address trade deficit with Vietnam
It was announced at the inauguration of the jointly constructed Da Market in Tbong Khmum province on Tuesday that Cambodia and Vietnam are to build two more markets along their shared border to increase bilateral trade and boost the Kingdom’s exports.
— The Phnom Penh Post

PM: Vietnam willing to send experts to support Laos
Vietnam is willing to send experts to support Laos, especially in macro-economic policy consultancy, Prime Minister Nguyen Xuan Phuc said at a reception for Laos’ Deputy Prime Minister and Minister of Planning and Investment Sonsay Siphandone in Hanoi on December 24.
— NDO

Vietjet commences HCM City-Pattaya route
In order to celebrate the new route during the festive season, super-saving tickets priced from just zero dollars are being given away between today and next Tuesday.
— Viet Nam News

A thick layer of fog enveloped the sky of Hanoi
A thick layer of fog enveloped the sky of Hanoi from the early morning until the afternoon, with weather forecasts showing that the phenomenon could continue over the next days.
— Vietnam Insider

Trade promotion contributes to boosting exports
The National Trade Promotion Programme significantlycontributed to boosting exports and bringing Vietnam’s import and export turnover to an estimated US$500 billion in 2019.
— NDO

Company, research institute in tie-up to develop new rice varieties
The Cửu Long Delta Rice Research Institute and agricultural company Lộc trời Group on December 24 signed a five-year agreement to jointly develop new rice varieties.
— Viet Nam News

Cigarette smuggling costs Vietnam hundreds of millions of dollars
Vietnam loses tens of trillions of dong (VND10 trillion = $432 million) a year due to cigarette smuggling, a long-standing problem.
— VnExpress

REE to raise stake in hydropower firm by nearly 30%
The Refrigeration Electrical Engineering Corporation (REE) has asked to increase its stake at Vĩnh Sơn Sông Hinh Hydropower JSC to more than 50 per cent of the latter’s capital.
— Viet Nam News

Industry and Trade sector forecast to fulfil all set targets for 2019
All planned targets of the Industry and Trade sector in 2019 are forecast to reach and exceed the set figures assigned by the Government, according to the Ministry of Industry and Trade (MOIT).
— NDO

City to spend more on road infrastructure
HCM City will prioritise investment in road infrastructure if it receives permission to raise the budget revenue-retention ratio, according to HCM City Party Committee Secretary Nguyen Thiện Nhân.
— Viet Nam News

Vietnam promotes handicraft products in India
The Vietnamese Trade Office in India set up a pavilion to sell handicraft products at the India International Mega Trade Fair (IIMTF), which took place in Kolkata city in West Bengal State from December 13-25.
— VietnamPlus

Bamboo Airways offers shares to foreign investors at nearly $7 per share
Bamboo Airways is offering its shares to strategic foreign investor for minimum VNĐ160,000 (US$6.91) per share, local media reported.
— Viet Nam News

Small banks struggle to meet Basel II deadline
Capital difficulties are putting pressure on some banks struggling to meet the central bank’s Basel II deadline of early next year, but experts suggest the central bank should not delay the process.
— Viet Nam News

Masan Consumer looks beyond F&B, offers to buy 60% stakes of Net Detergent
Masan Consumer Corporation (HNX-UPCoM: MCH) said on December 24 that Masan HPC, a newly established home and personal care subsidiary, has made an offer to buy up to 60 per cent stakes in Net Detergent JSC at a price of VNĐ48,000 (US$2.06) per share, valuing it at $46 million and a price-earnings multiple of 19x.
— Viet Nam News

Khánh Hòa warns about illegal sale of tourism property to foreigners
Khánh Hòa Province Department of Construction has warned about illegal sale of tourism property to foreigners, asking project developers to comply with the established laws.
— Viet Nam News

Bright prospects for aquatic product exports to China
Vietnam’s aquatic product exports to China rose 19.7 percent year-on-year to reach 1.1 billion USD in the first 11 months of 2019, according to the General Department of Vietnam Customs.
— VietnamPlus

HCM City plans new industrial zone in Bình Chánh District
The HCM City People’s Committee has submitted to the Prime Minister a proposed zoning plan of 1/2000 scale for a new 380-hectare industrial zone in Bình Chánh District.
— Viet Nam News

Hà Nội needs more efficient policies to develop key industrial products
The capital city of Hà Nội needs to have a more efficient mechanisms and create a more favourable business environment, attracting large enterprises to develop key industrial products, according to many experts.
— Viet Nam News

Problems remain in turning public non-business units to joint-stock firms
According to the Ministry of Finance, the transformation plan has lagged behind schedule set for 2015-20 period as the number of successfully-transformed units accounts for only 14.5 per cent.
— Viet Nam News

PM urges firms to highlight difficulties
Prime Minister Nguyen Xuân Phúc has urged local firms to point out the difficulties their operations were facing, pledging the Government’s continued efforts to improve the business climate and stimulate business development.
— Viet Nam News

Large livestock firms should control pork prices
Large livestock enterprises should keep pork prices in check despite limited supplies on the domestic market due to African swine flu, said Minister of Agriculture and Rural Development Nguyen Xuân Cường on Sunday.
— Viet Nam News

Việt Nam beauty market boasts excellent growth potential
The personal care sector has enjoyed strong growth of 7 per cent a year on average, higher than the fast moving consumers goods (FMCG) market, thanks to the skincare and make-up segment, according to a study by global data and consulting company Kantar Worldpanel.
— Viet Nam News

HCM City ensures supply of special food for Tết
On the occasion of Tết (Lunar New Year) holiday, which will fall on January 25, businesses in HCM City will provide consumers with many specialty products such as herbal chicken, herbal pork, and Bánh Chưng cake with multiple fillers.
— Viet Nam News

VN, S Korea aim for $100b bilateral trade turnover in 2020
Bilateral trade between Việt Nam and South Korea is well on track to reach US$200 billion in 2020, said Kim Dong Bae, minister counsellor at the Republic of Korea’s Embassy in Việt Nam.
— Viet Nam News

VN-Index falls due to lack of support
The VN-Index failed to maintain its rally on Tuesday due to the absence of supporting information at the end of the year.
— Viet Nam News

VN to host global ICT event
ITU Digital World, a global platform for accelerating information and communications technology (ICT) innovations, will take place in Hà Nội from September 6 to 9.
— Viet Nam News

SSIAM VNFIN LEAD ETF targeting financial sector’s stock launched
SSI Asset Management Co., Ltd. (SSIAM) has launched an ETF called the SSIAM VNFIN LEAD based on the Vietnam Leading Financial Index (VNFin Lead).
— Viet Nam News

Christmas brings joy to shoppers, retailers alike
Christmas they say, is a time for giving. But for many businesses around the country, it is prime time to receive as well.
— Viet Nam News

Feature photo Hanoi Hotels

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

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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