Vietnam morning news for July 25

Vietnam morning news for July 25

Vietnam morning newsViệt Nam’s foreign reserves hit record high $68 billion
Việt Nam’s foreign reserves hit a record high of US$68 billion at the end of June, revealed a report from the HCM City Banking University.
— Viet Nam News

Vietnam says Chinese vessel violated its sovereignty in South China Sea, tells Beijing to remove ships
Vietnam on Friday accused a Chinese oil survey vessel and its escorts of violating its sovereignty and demanded that China remove the ships from Vietnamese waters. Vietnam and China have for years been embroiled in a dispute over the potentially energy-rich stretch of waters in the South China Sea.
— Spratly Islands

Vietnam Startups Are Attracting Big Venture Capital Money
Startup companies in Vietnam, ranging from FinTech to logistics and artificial intelligence, are attracting a record amount of venture capital money in the country, according to a report by the Financial Times.
— pymnts

Vietnam could face power shortage
Vietnam could face an electricity shortage of 6.6 billion kWh in 2021 and 11.8 billion kWh in 2022. The shortage could increase to 15 billion kWh in 2023, according to the Ministry of Industry and Trade (MoIT).
— Eleven Myanmar

Viet Nam spent $11.4 billion on material imports in first half of year
Viet Nam spent US$11.4 billion to import materials for garment and textile production in the first half of the year, up 5.6 per cent from the same period last year, according to Vietnam Textile and Apparel Association (VITAS).
— Pulse News

Vietnam FTA: EU is more pragmatic than principled
On June 30, after almost seven years of discussions and negotiation, pen was finally put to paper on the European Union-Vietnam Free Trade Agreement – or the EVFTA, as it is commonly known.
— Asia Times

Facebook-Style App Launches in Vietnam Amid Tightening Internet Rules
The Communist government has called on domestic tech companies to create alternatives to US tech giants like Facebook and Google.
— Irrawaddy

Vietnam’s cashew export to China strongly rises
Vietnam raked in 221.47 million USD from exporting over 28,000 tonnes of cashew nut to China in the first half of this year, up 24.8 percent in value and 53.2 percent in volume year-on-year, according to the General Department of Customs.
— VietnamPlus

Vietnam aluminium profile association launched
The association of Vietnamese aluminium profile for the north made its first public appearance in Hanoi on July 23.
— NDO

Venture capital piles into Vietnamese technology companies
Vietnamese companies in sectors ranging from trucking to fintech and facial recognition are attracting a record wave of venture capital money, drawn in by the digital transformation and growing wealth of one of Asia’s youngest and fastest growing economies.
— Financial Times

HCM City to host Vietnam M&A Forum in August
The Vietnam M&A forum 2019, an annual event of mergers and acquisitions for domestic and foreign enterprises, will return in its 11th edition at GEM Conference Centre in Ho Chi Minh City on August 6.
— NDO

Eni Announces Gas Find Offshore Vietnam
Eni’s Ken Bau 1X exploration well in block 114 of the Song Hong Basin offshore Vietnam has proven the presence of gas and condensate in the Ken Bau prospect, the Italian supermajor announced on Wednesday.
— Oedigital

Strong aviation growth creates room for more players: AirAsia
With the region’s highest growth rate, there is room for new airlines to enter Vietnam’s aviation market, AirAsia says.
— VnExpress

Vietjet, Masan buy 77 pct of bonds issued by Viet Capital
Budget airline Vietjet and food producer Masan have spent VND387 billion ($16.62 million) on the bonds issued by stock brokerage firm Viet Capital Securities.
— VnExpress

Vietjet Recognised as One of “Vietnam’s 50 Best Performing Companies in 2018”
Vietjet was recognised as one of the leading companies in “Vietnam’s 50 Best Performing Companies 2018”. Held in Ho Chi Minh City on 27 June 2019, the award ceremony celebrated the leading companies listed on Vietnam’s stock market for their significant contribution to the economy.
— Alvaradonews

Huawei Celebrates National Day with $54 Smartphone Deal
Huawei Consumer Business Group , Singapore, has announced that it will be offering its popular casual smartphone series, the HUAWEI Y6 Pro 2019 , at a mere $54 (original RRP of $198) for just three days, happening from 26th to 28th July.
— Viet Nam News

US working with Vietnam to strengthen coast guard force
The U.S. Coast Guard is closely cooperating with its Vietnamese counterpart and will continue supporting regional nations, said a senior U.S. official.
— VnExpress

New social media app Gapo aims to rival Facebook in Vietnam, as state clamps down on tech giants
A Facebook-style social network was launched in Vietnam on Tuesday, following calls by the Communist-ruled government for domestic tech companies to create alternatives to US tech giants Facebook and Google.
— South China Morning Post

Vietnam franchise opportunities Booming
The brands will gather at VF Franchise Consulting headquarters in Ho Chi Minh City on July 9 to meet with prospective area or master franchisees for the market. The franchises are in the food-and-beverage sector, education, services, and come from the US, Taiwan, Thailand, Singapore, India and Japan.
— Retail News

Vietnam-Russia Youth Forum opens in Hanoi
The Vietnam-Russia Youth Forum, jointly held by the National Committee on Youth of Vietnam and the Russian Federal Agency for Youth Affairs, will run until July 29 with various activities in Hanoi, Ho Chi Minh City and the northeastern province of Quang Ninh.
— NDO

VIETNAM GP: Sneak preview of the Hanoi Motor Sport Circuit
With tickets now on sale, the buzz continues to build around F1’s newest race, next April’s inaugural Vietnam Grand Prix.
— Formula1

Vietnam asks China to help find missing boat with five fishermen
Vietnam is seeking Chinese help to find a fishing vessel with five people on board that has been missing since July 2.
— VnExpress

Vietnam’s telecommunications market heats up
The domestic telecommunications market returned to growth in the first half of 2019 after a long period of saturation and is expected to become more vibrant in the time ahead as carriers are racing to test and roll out 5G services.
— NDO

Boosting defence external relations to safeguard national sovereignty
The Naval People’s Force of Vietnam has promoted defence external activities, creating mutual understanding and trust with foreign countries to safeguard national sovereignty over sea and islands.
— VietnamPlus

Guidelines on gender responsive budgeting launched in HCM City
The publication of the guidelines “Gender responsive budgeting in the verification and monitoring of the budget implementation of the People’s Council” was launched in Ho Chi Minh City on July 23.
— VnExpress

Teco unveils new factory in Vietnam
Taiwan-based electrical machinery and home appliance vendor Teco Electric & Machinery on July 23 unveiled a new factory in a high-tech industrial park it developed in southern Vietnam.
— Digitimes

Seeds for seedless watermelons exported to Japan
Loc Troi Group, a leading provider of agricultural services and products in Vietnam, on July 23 announced it had exported 8.1 kg of seeds that will grow into seedless watermelons to Japan.
— VietnamPlus

Vietnam faces challenges from US-China trade conflict
In general, Vietnam reaped no rewards from the trade war and is facing obstacles in shipments to several markets.
— The Hanoitimes

S.Korea’s KOGAS, US Energy Capital Vietnam to build 3,200-MW-LNG power plant in Vietnam
The move aims to meet the significant liquefied natural gas (LNG) demand growth forecast for Vietnam.
— The Hanoitimes

Hanoi drainage company denies ruining Japan team’s river cleanup efforts
Hanoi’s sewerage utility has denied responsibility for disrupting the cleanup of the To Lich River by a Japanese team.
— VnExpress

Development of domestic agricultural sector crucial: Prime Minister
The PM said agriculture is one of three key economic sectors that Việt Nam needs to focus on developing, besides information technology and tourism.
— Viet Nam News

Essential oil project launched in Hội An
The complex will make chemical-free products without preservatives, combined with manufacturing tours for visitors.
— Viet Nam News

Việt Nam seeks foreign investment in ports
Việt Nam is encouraging investors from all around the world to develop its ports, according to the Việt Nam Maritime Administration.
— Viet Nam News

Comprehensive policy needed in time of digital communication economy: forum
Social media spreads information and disinformation rapidly, exerting a big influence on the public and businesses, and so the Government needs to have policies in place to manage and regulate it, a senior academic has said.
— Viet Nam News

Nghệ An to spend more than $800,000 on elephant conservation
The central province of Nghệ An will spend VNĐ19 billion (US$818,000) on elephant conservation by 2025, a conference heard on Monday.
— Viet Nam Net

Shares recover thanks to ‘Vin’ stocks
Nearly 185 million shares were traded on the southern bourse, worth VNĐ4.7 trillion (US$201 million).
— Viet Nam News

Conference highlights investment, trade opportunities in Thanh Hóa
Trịnh Văn Chiến, Secretary of the Thanh Hóa Party Committee described the event as a good opportunity for the province to advertise advantages, saying that it marked a new milestone in co-operation between Thanh Hóa and Russia.
— Viet Nam News

Motorcycle sales decreases in second quarter
Members of the Vietnam Association of Motorcycle Manufacturers witnessed sales of more than 749,500 units in the second quarter of this year, marking a decrease of 4.4 per cent from the same period last year.
— Viet Nam News

 

Feature photo Hiram to Hanoi

This week’s Vietnam morning news feature photo focus on air quality throughout Asean.

 

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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