Vietnam Morning News For February 14

Strengthening e-payments in Vietnam
2018 proved to be a fantastic year for the Vietnamese economy. Figures from the government showed that the socialist state’s gross domestic product (GDP) grew by 7.1 percent year on year in the first six months of 2018 – the fastest growth recorded since 2011. Vietnam’s impressive growth rate is expected to continue this year.
— The Asean Post

Vietnam exports 550 mln USD worth of animal products in 2018
Vietnam gained 550 million U.S. dollars from exporting animal products, mainly pork, chicken, eggs, honey and fresh milk, in 2018, according to its Ministry of Agriculture and Rural Development on Wednesday.
— Xinhua

How will Bamboo Airways affect the aviation market?
The national flag air carrier Vietnam Airlines and the private Vietjet Air continue to dominate the domestic aviation market, but newcomers may begin to take away some market share.
— Vietnam Insider

Domestic retailers urged to team up to compete
Competition between domestic and foreign retailers was likely to remain fierce this year, requiring Vietnamese businesses to co-operate in order to maintain their market shares, said an official from the Ministry of Industry and Trade (MoIT).
— Bizhub

Laos-Vietnam trade over $1 bln in 2018
The combined trade value of imports and exports between Laos and Vietnam rose and crossed the $1 billion mark in 2018.
— Khmer Times

Deputy PM wants Long Thanh airport construction to begin next year
Construction of Long Thanh International Airport should begin next year with private funding prioritized, Deputy PM Trinh Dinh Dung has said.
— VnExpress

Direct Vietnam-US Flights could be launched this Year
United States-Vietnam civil aviation are in touch to establish direct flights between the two countries this year, most likely in the coming weeks.
— Vietnam Insider

North Korea may choose to follow Vietnam’s economic model as it looks to open up
As North Korea signals a willingness to open up its highly centralized, socialist economy, Vietnam’s model of development is being widely suggested as a blueprint for Pyongyang to emulate.
— CNBC

Local car maker to export to ASEAN and the US
The Trường Hải Automobile Company (Thaco) plans to export locally manufactured buses, cars and semi-trailers as well as spare parts and accessories to the US, Canada, Thailand, Singapore and the Philippines worth US$60 million in 2019.
— Viet Nam News

Vietnam to focus on 5 key scientific projects
Deputy Prime Minister Vu Duc Dam yesterday had a meeting with more than 70 scientists who are taking part in the 5 major scientific projects in Vietnam.
— Sggp News

Vietnam orders hotels near Hanoi venue of Trump-Kim summit to cancel reservations for security
With the US-North Korea summit scheduled to take place Feb. 27-28 in Hanoi, the Vietnamese government has ordered hotels near JW Marriott Hotel Hanoi to cancel reservations that have already been made, a local daily here reported Wednesday.
— Eleven Myanmar

Grab says Uber deal did not infringe Vietnam laws
Ride-hailing company Grab said Wednesday its acquisition of Uber did not breach Vietnam’s competition laws and it had consulted lawyers before the deal.
— VnExpress

Petro firms drive VN Index up for a third day
Vietnamese shares extended their growth for a third straight day as focus switched to the petroleum sector following sharp increases in oil prices.
— Viet Nam News

Aquatic exports record two-digit growth in January
Vietnam raked in 700 million USD from aquatic exports in January, a year-on-year rise of 15.2 percent, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
— VNA NET

Vietnam Banks Urge Government to Lift Foreign Ownership Ceiling
Vietnam’s largest banks are pushing the government to allow them to sell more equity to foreign banks to bolster their capital levels.
— Regulation Asia

BIDV among world top three banks of highest brand strength change
The Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) recorded a brand strength improvement of 22 percent between 2018 and 2019, the third largest change among 500 banks worldwide.
— VNA NET

Marine’s Vietnam tour is topic of round table session
Vietnam veteran David Crawley will recount his wartime experiences at the Veterans & Emergency Services Museum Round Table at 7 p.m. Monday at Autumn Ridge Church, 3611 Salem Road SW.
— Post Bulletin

Tasks approved to adjust Da Nang master plan
Deputy Prime Minister Trinh Dinh Dung has approved tasks adjusting the master plan for the central city of Da Nang.
— VNA NET

VN to face difficulties in cassava exports
Việt Nam will continue to face difficulties in exporting cassava this year, especially to China, the largest export market of local cassava, according to the Việt Nam Cassava Association.
— Viet Nam News

Young entrepreneurs urged to promote enterprising spirit
The Vietnam Young Entrepreneurs Association needs to encourage its members to promote their enterprising spirit in implementing activities to solve the demand of jobs in each locality, increase people’s income, and create more competitive products.
— Nhan Dan Online

City to invest in agriculture products
HCM City will invest in six agricultural products and six craft villages under the One Commune One Product Programme in which each rural commune or district will develop its own specialty.
— Viet Nam News

Ambassador affirms ASEAN’s efforts to narrow development gap
Vietnamese Ambassador Dang Dinh Quy noted the efforts by the Association of Southeast Asian Nations (ASEAN) to narrow development gaps among its members at a session of the Commission for Social Development of the UN Economic and Social Council (ECOSOC).
— VNA NET

Mobile phone ads gain greater purchase during Tet in Vietnam
Vietnam recorded the fourth highest mobile in-app ad revenues (eCPM) in the Asia-Pacific region during Tet 2018. It ranked behind China, Singapore and the Philippines, according to a report recently released by Vietnamese digital advertising service company Adsota.
— Retail News

Purchasing power higher during Tet
Purchasing power during the Tet (Lunar New Year) holiday increased by 10-12 percent from last year and 15-20 percent in comparison with previous months, according to the Ministry of Industry and Trade (MoIT).
— VNA NET

Vietnam takes action to reduce plastic waste
Vietnam is one of Asia’s five worst polluters of ocean plastic waste, according to international organizations. With 13 million tonnes of waste released to the ocean every year, the country ranks 17th in the world for ocean plastic waste pollution.
— Vietnam Insider

521 endangered animals saved in 2018
As many as 521 endangered wildlife animals were saved in Vietnam in 2018 thanks to the engagement of people and law enforcement agencies, NGO Education for Nature-Vietnam (ENV) announced on February 11.
— VNA NET

Vietnam’s clampdown on academic freedom
Under new rule, Vietnam is discrediting critics of the one-party state. Alexandre Sisophon reports from Hanoi on the academics and students resisting this campaign.
— New Interantionalist

Vietnam, Democratic People’s Republic of Korea seek stronger ties
Deputy Prime Minister and Foreign Minister Pham Binh Minh has affirmed that Vietnam would work with the Democratic People’s Republic of Korea (DPRK) to promote bilateral cooperation in the areas that match potential and interests of each side, as well as national and international regulations, for peace and development in the region and the world.
— Nhan Dan Online

Can North Korea use Vietnam as a model for its future progress?
Vietnamese Prime Minister Nguyen Xuan Phuc has welcomed the US and North Korea’s decision to hold the next Trump-Kim summit in Hanoi. He said it was a reflection of the country’s commitment to security and safety, but also that it is an indicator that “Vietnam’s development model is going in the right direction.”
— AseanToday

Vietnam mulls multi-layered FIT scheme as it kicks energy transition into gear
With its feed-in tariff set to expire at the end of June, Vietnam is considering different levels of payment, classified across three irradiation regions and involving four solar technologies.
— PV Magazine

GBS to support BlueStar AMG extending its business in Vietnam
BLUESTAR AMG company said on Thursday that, with the support of GBS — a business and legal services firm in Vietnam, it has received an in-principle foreign-owned enterprise (FOE) license from the Vietnam’s Ministry of Planning and Investment.
— Vietnam Insider

Vietnam’s pangasius farmers reporting record profits
Although the price of pangasius has slightly declined since the beginning of this year, it is still at a high enough level to ensure strong returns.
— Infrafish

Cần Thơ Industrial Zones lure $112m
Industrial zones in the Mekong Delta city of Cần Thơ attracted total registered investment capital of US$112 million last year, 12 per cent higher than its annual target, according to the municipal Industrial Zones and Processing Zones Management Board.
— Viet Nam News

Vietnamese students win gold medals at int’l mathematics contest
Vietnamese students won two gold medals at the International Talent Mathematics Contest (ITMC), which took place in Thailand from February 7 to 11.
— VNA NET

Vietnamese poetry aired on US radio
Vietnamese poetry and music hit the airwaves in the US on February 11, with the programme “Lanterns hanging on the wind” broadcast on several university radio stations.
— VNA NET

Feature photo Asian Development Bank

This week’s Malaysia morning news feature photo acknowledges International Day of Women and Girls in Science, February 11.

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).

Vietnam morning news by AEC News Today is your one stop source for Vietnam news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies, not politics.