Vietnam morning news for July 11

Vietnam morning news for July 11

Vietnam morning newsVietnam may spend 26 bln USD building North-South high-speed railway
Construction of Vietnam’s North-South high-speed railway, which allows passengers to travel between capital Hanoi and Ho Chi Minh City in about eight hours, will cost about 26 billion U.S. dollars, local media reported on Wednesday.
— Xinhua

Central bank to keep monetary policy on hold through 2019
The State Bank of Việt Nam (SBV) will hold its benchmark refinancing and discount rates at 6.25 per cent and 4.25 per cent, respectively, in addition to maintaining its 14 per cent credit growth target for the remainder of 2019, experts forecast.
— Viet Nam News

Vietnam’s automobile market to be flooded with zero-tariff ASEAN cars
The car sales in Vietnam are forecast to reach 500,000 units per year in 2020 and 1 million per year by 2030, with a turnover of US$12 billion each year.
— The Hanoitimes

Đà Nẵng attracts $542 million of foreign investment in H1
More than US$542 million worth of foreign capital was invested in the central city of Đà Nẵng in the first half of this year.
— Viet Nam News

New airline Vinpearl Air to enter Vietnam’s aviation market
Hà Nội News The Hanoi Department of Planning and Investment in Vietnam granted a business licence to yet another new airline start-up – Vinpearl Air, a member of Vingroup.
— The Thaiger

Vietnamese private SMEs find it hard to get bank loans
The Provincial Competitiveness Index (PCI)’s 2018 report showed that there was no improvement in information transparency as many businesses still struggled with access to information.
— The Hanoitimes

Cement sector looks set to continue growth
The prospects of cement enterprises in the second half of the year will continue to improve, especially during the construction season at the end of the year, according to Chairman of the Vietnam Cement Association (VNCA) Nguyn Quang Cung.
— Viet Nam News

World billionaires have their eyes on Vietnamese key economic sectors
Vietnam now has to ensure fair competition, national treatment for foreigners and nationals equally as well as no quantitative restrictions in foreign trade.
— The Hanoitimes

Việt Nam’s forestry sector targets US$11 billion in export
Việt Nam’s export of timber and wood products is expected to reach US$11 bllion this year, said Minister of Agriculture and Rural Development Nguyn Xuân Cường.
— Viet Nam News

VN economy to rely on strength of private corporations
Many economists believe that the key to development does not lie in GDP growth. For a $240 billion economy, a one percent GDP growth rate is just $24 billion, a modest figure compared with Indonesia and Thailand, economies with a scale five and two times larger than Vietnam, respectively.
— Vietnam Insider

Most new landed property in eastern Ha Noi
The east of Hà Nội has led the new supply of landed property, covering 80 per cent of the total new launch in the first half of this year, according to property consultancy CBRE Vietnam.
— Viet Nam News

Vietnam logistics market likely to hit US$87 billion in 2022
The development will be backed by increasing industrial activities, growing e-commerce, and stronger investment in logistics infrastructure.
— The Hanoitimes

Concerns raised over Việt Nam’s largest infrastructure project
The tentative total investment for the North-South high-speed railway, according to Ministry of Planning and Investment (MPI), is about US$26 billion – $32 billion less than the previous proposal by Ministry of Transport (MoT).
— Viet Nam News

Vinpearl Air to enter aviation market
Hà Nội Department of Planning and Investment has granted business licence to Vinpearl Air Joint Stock Company, a member of Vingroup.
— Viet Nam News

MoIT tightens supervision to avoid trade sanctions
Sectors which have seen high growth in the past few years such as wooden furniture, garments and textiles, seafood and steel are being placed under special supervision by the Ministry of Industry and Trade (MoIT) to avoid having high tariffs and trade sanctions imposed by other nations.
— Viet Nam News

VTC Pay joins hands with DOCOMO to boost Vietnam’s mobile commerce
The mobile wallet service VTC Pay currently dominates the market in Vietnam, attracting mobile commerce enabler DOCOMO to join forces Vietnam’s mobile wallet and a payment gateway provider VTC Pay has announced a partnership with DOCOMO Digital to scale the mobile commerce ecosystem in the country. DOCOMO Digital’s platform connects international …
— e27

Number of Thai visitors to Vietnam sees sharp increase in H1
The number of Thai visitors to Vietnam in the first half of 2019 recorded a sharp increase of 45% when compared to the same period last year, thanks to the launching of new air routes liking Thailand and major tourist cities in Vietnam.
— NDO

Thailand’s Centara plans major growth in Vietnam
Asian hospitality company Centara Hotels & Resorts, part of Thai conglomerate Central Group, is looking to open at least 20 new hotels across Vietnam in the next five years.
— Hotelmanagement

Bình Định focuses on investment in big projects in H2
The central province of Bình Định in the second half of this year will prioritise to attract domestic and foreign investment for big and labour intensive projects, according to the provincial People’s Committee.
— Viet Nam News

Vietnam pact a slow-motion boon for Europe apparel importers
The recently signed free trade agreement between the EU and Vietnam will initially be tricky to navigate for European importers, but the long-term benefits will be significant.
— JOC

Vietnam Needs to Break Its Addiction to Chinese Coal
Hanoi needs to consider the environmental and strategic consequences of reliance on Chinese coal projects.
— The Diplomat

Vietnam hopes for further support in access to ODA: Deputy PM
As official development assistance (ODA) plays an important role in the country’s socio-economic development, Vietnam hopes to receive further supports from its partners to diversify capital sources.
— NDO

HBO GO launches in Vietnam
HBO Asia, its Vietnam agent Q.net and their platform partner FPT Play have announced that streaming service HBO GO is now available in Vietnam on the FPT Play app.
— Advanced-television

Vietnam’s GO-VIET to ramp up headcount as it looks to fill key senior positions
GOJEK’s Vietnam affiliate GO-VIET is looking to ramp up its headcount in various departments including its new online payment service Go-Pay.
— DealStreetAsia

Vietnam’s gemstone, precious metal, jewelry export surges 41 pct in H1
Vietnam gained 411 million U.S. dollars from exporting gemstones, precious metals and jewelry in the first half of this year, posting a year-on-year rise of 41 percent, according to its Ministry of Industry and Trade on Wednesday.
— Xinhua

Vietnam privatization efforts bogged down in new rules
Vietnamese agencies have only equitized 35 of 127 enterprises with a 2020 deadline, and many are asking for more time.
— VnExpress

Cutting high-speed rail cost by half impossible, says consultancy
The cost of Vietnam’s first high-speed railroad cannot be cut by half even if its speed is reduced, a consultancy consortium has said.
— VnExpress

Telecom giant Viettel to pilot 5G services in Cambodia
Vietnamese company Viettel and a local partner are set to carry out 5G trials in the Cambodian capital, Phnom Penh.
— VnExpress

Forum promotes Vietnam – Cambodia trade and investment cooperation
The 2019 Vietnam – Cambodia Trade and Investment Promotion Forum was held on July 9 in the Cambodian capital of Phnom Penh.
— NDO

Paradox shadows Vietnam solar power planning after deadline of FiT
The mushrooming of solar power projects in Vietnam over the past few years has caused an overload on the electrical grid, putting many developers in a dilemma.
— The Hanoitimes

CIty seeks ways to speed up construction of HCM City-Mộc Bài Highway
The authorities of HCM City and Tây Ninh Province are building shopping malls and service facilities along the HCM City – Mộc Bài Highway to raise revenue for construction of the highway.
— Viet Nam News

The Stalemate Driving Vietnam’s Illegal Wildlife Trade
Education for Nature – Vietnam’s (ENV) Wildlife Crime Unit recently enabled the rescue of the “Nghe An Three” in one of the most protracted and violent bear bile rescues to date.
— The Diplomat

Deutsche Bank’s restructuring not expected to harm VN market
Recent developments at Deutsche Bank will have no effects on capital flows into Việt Nam, according to Bảo Việt Securities Co (BVSC).
— Viet Nam News

CERES Forum Marks One-Year Anniversary With 10th Country Addition
CERES Forum Marks One-Year Anniversary With 10th Country Addition
— Viet Nam News

Vietnam, Laos review crime fight
The Vietnamese and Lao ministries of public security held the 10th conference in Vientiane on July 9 to review their joint work against crimes.
— NDO

Vietnam is facing a ‘grey’ wave: How will it cope with an ageing population?
Facing the challenge of a rapidly ageing population, the Vietnamese government is considering raising the retirement age and other pension reforms.
— South China Morning Post

VN apparel industry suffers due to lack of competitive dyeing, fabric segments
Weakness on dyeing and dependence on imported cloths have weakened the garment and textile companies’ competitiveness and creativeness, experts have said.
— Viet Nam News

74 works and applications selected to Vietnam Golden Book of Creativity 2019
As many as 74 research works and applications in the field of natural and applied sciences have been selected to the Vietnam Golden Book of Creativity in 2019.
— NDO

Top legislator attends art performance honouring Vietnam-China ties
Chairwoman of the National Assembly Nguyen Thi Kim Ngan on July 10 evening attended an art performance in Beijing, as part of her on-going official visit to China.
— NDO

Large-cap rally helps lift markets
The market received strong support from large-caps on Tuesday with both the VN-Index and HNX-Index rising.
— Viet Nam News

Venture Capital Book Club: Why I make my VC team read books
There’s no better way to cultivate intellectual curiosity and a critical and analytical mind than by reading voraciously Though the corporate venture capital fund that I manage is one of the largest VC funds in Thailand, and we have invested in some of the most fascinating fintech and deep tech startups around the world, lately […]
— e27

Vingroup sets up flight training center amid shortage of aviation personnel
Vingroup has signed an agreement with CAE Oxford Aviation Academy to set up VinAviation School and Vinpearl Air Training Center in Vietnam.
— The Hanoitimes

VIB announces first luxury cruise award winner
Ms Nguyen Thi Theu, a customer of VIB in Hanoi has become the first winner of special prize – a luxury cruise around Asia for two, in the first lottery round of the promotion “Experience the Asia luxury cruise with VIB credit card.” The results were announced July 5, 2019 in Ho Chi Minh City.
— Vietnam Insider

 

Feature photo LINCZ

This week’s Vietnam morning news feature photo focuses on Asean’s endangered species, here, the Delacour’s langur (Trachypithecus delacouri)

 

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.

 

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Sreypov Men recently completed a course of study in International Relations at the Institute of Foreign Languages.

She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018

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