Vietnam morning news for July 9

Vietnam morning news for July 9

Vietnam morning newsVietnam’s automobile industry faces growing pressures from FTAs
Vietnam’s auto market is scheduled to fully open to foreign car companies by 2030, including those from ASEAN, Japan, Mexico and the EU.
— The Hanoitimes

Foreign investors compete for Vinamilk shares
Since early 2018 to date, F&N Dairy Investment and Platinum Victory have been competing with each other for the acquisition of 1% of Vinamilk stake, but their respective moves have failed to materialize.
— The Hanoitimes

Agriculture sector will boost seafood, forestry production in H2
The agricultural sector in the second half of this year will focus on the development of commodities that have potential in production and export growth such as seafood and forestry products, said Minister of Agriculture and Rural Development Nguy�…n Xuân Cường.
— Viet Nam News

Can Vietnam turn 90% of its transactions into cashless payments?
In the past year, consumers in Hanoi have adopted new ways of paying for things. In some parts of the city, they no longer need cash or conventional bank cards. Stroll down Nguyen Huu Huan Street, which is known for its popular coffee shops, and you’ll spot customers settling their bills for meals and purchases using smartphones by scanning QR codes.
— KrAsia

Hanoi posts 7.21 percent GRDP growth in H1
Hanoi posted a 7.21 percent increase in Gross Regional Domestic Product (GRDP) in the first half of the year, it was reported at the 9th session of the municipal People’s Council that opened on July 8.
— VietnamPlus

HCM City promotes IC, semiconductor industry
The market for integrated circuits (IC) and semiconductors in Việt Nam has huge potential, offering great investment opportunities for domestic and foreign enterprises, according to experts.
— Viet Nam News

HCM City bus services seek higher subsidy
Nine of 13 bus enterprises and co-ops in HCM City have asked for a reduction of bus trips on several lines as their subsidies are lower than bus owners’ expenditures.
— Viet Nam News

Vietnam to gain growth in shrimp exports to EU
The domestic shrimp industry considers the EU-Vietnam free trade agreement (EVFTA) a good chance to boost exports to the EU market, according to the Vietnam Association Seafood Exporters and Producers (VASEP). Especially, tariffs on frozen prawn exported from Vietnam to the EU will fall from 20 per cent at present to zero as soon as the agreement comes into effect.
— Vietnam Insider

Hanoi office rental maintains upward trend
Grade A office enjoyed the highest upswing with a growth of 4.1% on quarter and 5.7% on year.
— The Hanoitimes

June’s pepper exports up 58.8 per cent
Việt Nam exported 35,000 tonnes of pepper in June worth US$85 million, increasing by 58.5 per cent in volume and 20 per cent in value year-on-year.
— Viet Nam News

Japanese electric wire manufacturers shift operation to Vietnam
Japanese wire makers are keen to expand sales elsewhere in Asia as automobile electrification takes off and Japan`s auto parts suppliers shift their own production bases.
— The Hanoitimes

Nintendo to move Switch output to Vietnam as China tariffs loom
Japan’s Nintendo will shift some production of its Switch console to Vietnam from China, Nikkei has learned, as the Washington-Beijing trade war threatens to cast a shadow over the hit gaming device.
— Nikkei Asian Review

Organic fertilisers are key to sustainable agriculture in Vietnam
Identifying organic fertilisers as the key to organic agriculture, Vietnam’s agriculture ministry has set a target to raise the proportion of organic fertilisers to 15% and the consumption of organic fertilisers industrially produced at home from one to three million tonnes by 2020.
— NDO

Jetion Solar completes first EPC project in Vietnam
Jetion Solar has completed its first engineering, procurement and construction (EPC) project in Vietnam.
— PV Tech

Economic Commentary: China Trade Truce, Vietnam in the Spotlight
I know this will sound un-American, especially around Independence Day. But I have enjoyed following the Cricket World Cup. Think baseball, but with only two bases, no foul territory and no seventh-inning stretch.
— Fxstreet

Hyundai Merchant Marine advances into Vietnam’s logistics industry
South Korean carrier Hyundai Merchant Marine is soon to advance into Vietnam’s logistics industry along with institutes such as Busan Port Authority. The company recently joined THE alliance, one of the three major maritime alliances, to expand its maritime networks.
— Donga

Enterprises need better branding to compete in int’l market
Vietnamese enterprises must develop globally competitive brands if they want to succeed internationally, speakers said at a conference on domestic trademarks held recently in Ho Chi Minh City.
— VietnamPlus

Defense Dialogue Spotlights Vietnam-France Military Ties
The interaction was yet another sign of ongoing attempts by both sides to further boost security collaboration.
— The Diplomat

Rep firm expands Vietnam portfolio
Fusion Resort Cam Ranh in Vietnam is the latest hotel to join Red Elephant Reps, a top-end hotel and travel representation company.
— TTR Weekly

Promoting Vietnam-China comprehensive strategic cooperative partnership
At the invitation of Chairman of the Standing Committee of the Chinese National People’s Congress, Li Zhanshu, Vietnamese National Assembly Chairwoman Nguyen Thi Kim Ngan will begin an official visit to China from July 8-12.
— NDO

Australia just got overtaken by Vietnam for large scale solar installations
Australia is experiencing a much talked about boom in large scale solar installations, with a four-fold increase in completed projects in the last 12 months to 2.7GW.
— Renew Economy

How big is Vietnam carton packaging industry following inauguration of Tetra Pak US$135M site?
The development of manufacturing, customer goods, food processing, and export over the past years has driven up carton packaging industry.
— The Hanoitimes

Ninh Binh says no to plastic bags
Ninh Binh (VNA) – The northern province of Ninh Binh has moved to reduce the use of plastic bags as part of its efforts to protect the environment.
— VietnamPlus

Symphony picks up minority stake in Vietnamese freight firm ITL
Symphony International Holdings has, through a wholly-owned subsidiary, acquired a “significant” minority stake in Vietnam-based Indo Trans Logistics Corporation (ITL), it announced on Monday.
— Share Cast

Businesses in VN told to diversify
Vietnamese enterprises are advised to build better business strategies after the US slapped huge tariffs on Vietnamese steel.
— The Phnom Penh Post

Water plant built in Ben Tre to serve over 100,000 people
Work started on July 6 on a factory that is set to supply clean water to more than 100,000 residents in the Mekong Delta province of Ben Tre.
— NDO

Centara plans 20 new hotels across Vietnam by 2024
Centara Hotels & Resorts has revealed expansion plans for Vietnam, with the goal of opening at least 20 new hotels in the next five years.
— Travel Daily Media

Things to do in Phu Quoc, Vietnam’s top island getaway
Vietnam is home to some 2,030 miles of beautiful coastline and hundreds of islands.
— CNN

Enterprises need better branding to compete in int’l market
Vietnamese enterprises must develop globally competitive brands if they want to succeed internationally, speakers said at a conference on domestic trademarks held in HCM City on Saturday (July 6).
— Viet Nam News

India opens investigation into steel imports from Việt Nam
India’s Directorate General of Trade Remedies (DGTR) has initiated an investigation on potential anti-dumping duties against imported flat rolled stainless steel products from 15 countries and territories including Việt Nam.
— Viet Nam News

Vietnam’s image promoted to French friends
The first Vietnamese Cultural Festival was held in the Asia Mekong Village of Lyon City, France, on July 6-7, aiming to promote the image of the land and people of Vietnam to international friends.
— NDO

Quảng Ngãi tells investor to complete waste treatment plant by late September
The People’s Committee of central Quảng Ngãi Province has instructed North Investment and Development Construction JSC – the investor of the Nghĩa Kỳ waste treatment plant – to complete construction of the plant and put it into operation before September 30.
— Viet Nam Net

Banks announce impressive profits in H1 2019
Domestic banks have so far unveiled positive business performance results in the first half of this year, with some new records being set.
— Viet Nam News

Mechanical engineering industry needs more Govt support for growth, experts say
The mechanical engineering industry needs supportive policies from the Government to enhance its competitiveness during the fourth industrial revolution, officials and industry experts have said.
— Viet Nam News

June’s pepper exports up 58.8 per cent
Việt Nam exported 35,000 tonnes of pepper in June worth US$85 million, increasing by 58.5 per cent in volume and 20 per cent in value year-on-year.
— Viet Nam News

VN stocks may keep rising, driven by corporate earnings
As corporate earnings are predicted to rise in the second quarter and first six months of the year, investors may return to the Vietnamese stock markets and lift local shares.
— Viet Nam News

Deutsche Bank to Close Most Equity Businesses in Asia
Deutsche Bank is planning to shutter the majority of its equities business in the Asia-Pacific region as part of a restructuring to be announced as soon as Sunday, a person with knowledge of the matter said.
— Vietnam Insider

Sixty-two Msian undergrads in Vietnam for volunteer programme
Sixty-two students from various local universities left for Vietnam on Sunday to take part in a voluntary programme under the Student Volunteers Foundation (YSS).
— New Straits Times

Global slumping stocks dampen local shares
Indices around the world slumped, such as Japan’s Nikkeri 225, China’s Shanghai Composite Index and South Korea’s Kospi.
— Viet Nam News

 

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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