Vietnam morning news for June 12

Vietnam morning news for June 12

Vietnam morning newsHanoi to curb fake ‘Made-in-Vietnam’ goods
Hanoi has vowed to crack down on manufacturers illegally using “Made in Vietnam” labels on items destined for America to dodge punishing tariffs as the US-China trade spat drags on.
— The Asean post

Vietnam posts $1.3bn trade deficit in May, matches forecast
Vietnam had a trade deficit of $1.3 billion in May, matching the government’s forecast, customs data showed on Tuesday.
— Bangkok Post

Vietnam’s chemical import increases 7.9 pct in 5 months
Vietnam spent nearly 2.2 billion U.S. dollars importing chemicals and over 2.1 billion U.S. dollars importing chemical products in the first five months of this year, up 7.9 percent and 6.9 percent on-year, respectively.
— Xinhua

Vietnam Foreign Policy in the UN Security Council Spotlight
The country’s upcoming UNSC stint will spotlight Hanoi’s approach to the world, and the opportunities and challenges therein.
— The Diplomat

Vietnam becomes world’s 2nd largest litchi exporter: organization
Vietnam has become the second largest exporter of litchi in the world, accounting for 19 percent of the global market share, according to the world’s leading independent organization of horticultural scientists International Society for Horticultural Science (ISHS).
— Xinhua

Vietnam becomes second largest exporter of lychees
According to the International Society for Horticultural Science (ISHS), Vietnam has become the second largest exporter of lychees in the world. Growers of the southeast Asian nation are now accounting for 19% of the global market share.
— Fresh Plaza

Vietnam’s Foreign Contractor Tax – 3 Ways to Calculate FCT
Foreign contractors are subject to taxes on payments for work done in Vietnam based on the contracts signed with a Vietnamese partner in the form of the foreign contractor tax (FCT).
— Vietnam Briefing

Vietnam to increase wind power capacity
The Vietnamese government has aimed to raise total capacity of wind power to 800 megawatts (MW) by the end of 2020, some 2,000 MW by 2025 and 6,000 MW by 2030, Vietnam News Agency reported on Tuesday.
— Xinhua

Vietnam plays role of reluctant Asian middle power
In private discussions with senior Vietnamese foreign ministry officials, one could easily get the feeling that the socialist republic is a reluctant rising middle power in Asia.
— Bangkok Post

Vietjet introduces air ticket buying via installment in Vietnam for first time
Vietjet Air has cooperated with HD SAISON Finance Co., Ltd. to provide the first installment programme for buying air tickets in Vietnam, making air travel within everyone’s financial capability.
— VietnamPlus

Vietnam legislators: Alcohol bill not influenced by lobbying
The National Assembly general secretary, asked if interest groups have influenced a bill against alcohol, has assured that lobbying cannot sway the lawmaking process.
— VnExpress

Vietnam’s footwear export up 14.3 pct in 5 months
Vietnam made footwear export turnovers of more than 7.1 billion U.S. dollars in the first five months of this year, witnessing a year-on-year rise of 14.3 percent, according to the Vietnam Leather, Footwear and Handbag Association on Tuesday.
— Xinhua

Vietnam’s supporting industries attract Korean businesses
More and more businesses from the Republic of Korea (RoK) are coming to Vietnam to operate in supporting industries.
— VietnamPlus

New phone plant can make 125 million units a year for Vietnam’s VinGroup
Vingroup JSC, Vietnam’s biggest listed firm by market value, said on Monday it has started work on a second smartphone factory with a capacity to produce 125 million units a year.
— Vietnam Insider

Half of Nike products sold globally made in Vietnam
Nike’s Vice President Chris Helzer highly regarded the quality of Vietnam’s labor force, which has contributed to the success of Nike as one of the world’s largest sportswear and accessories companies.
— The Hanoitimes

Vietnam becomes second largest exporter of lychees
Vietnam has become the second largest exporter of lychees in the world, accounting for 19 percent of the global market share, according to the International Society for Horticultural Science (ISHS).
— VietnamPlus

Public debt within permissible limit: Finance Ministry
Public debt indicators were under strict control and fell within the permissible limits set by the National Assembly’s Resolutions as of the end of 2018, according to the Finance Ministry.
— Viet Nam News

Vietnam biggest winner from US-China trade war
Vietnam’s already strong economic outlook received another boost last week after Japanese investment bank Nomura named it the biggest winner from the United States (US) – China trade war, with its economy surging by 7.9 percent as a result of one year’s worth of trade diversions leading up to the first quarter of this year.
— The Asean post

Investors pledge $425 million at Vietnam Venture Summit 2019
Eighteen venture capital funds Monday committed a combined $425 million for Vietnamese startups over the next three years.
— VnExpress

Property inventories higher than MoC’s statistics: HoREA
Recently released statistics on real estate inventories from the Ministry of Construction were incorrect, according to the HCM City Real Estate Association.
— Viet Nam News

Most adults to have bank accounts by 2030
The State Bank of Việt Nam (SBV) must take action to ensure 90 per cent of the Vietnamese population over the age of 15 have bank accounts by 2030.
— Viet Nam News

Only three SOEs have equitisation plans approved in five months
Only three state-owned enterprises (SOEs) got the nod from authorized agencies for their equitisation plans in the first five months of this year, lifting the total number of companies to have plans approved by the end of May 2019 to 30, according to the Ministry of Finance.
— VietnamPlus

Zara Vietnam posts dramatic growth two years after its debut
Zara is outpacing archrival H&M in one of their fastest-growing markets, Vietnam.
— Insider Retail

Vietnam’s Mekong Delta opts for smart rice farming
Vietnam’s Mekong Delta, including 12 southern provinces and Can Tho city, are increasingly switching to smart rice farming to improve yields, cut costs and protect the environment, local media reported on Tuesday.
— Xinhua

Vietnam: then and now and the future
People usually ask me if Vietnam is a competitor to Thailand or if it has surpassed Thailand. It is because there is an anxiety in Bangkok about the quick leap to big growth in the economy and business in the neighboring Socialist Republic of Vietnam.
— The Nation

Vietnam’s Vimo and mPOS to combine With Plans to Raise $30 Million
Two of Vietnam’s payments startups are merging to add scale in the market where cashless payments are booming.
— Vietnam Insider

VN’s first social tourism network launched
Việt Nam’s online travel agent and start-up Hahalolo launched its first social travel site in HCM City on Monday.
— Viet Nam News

Int’l agricultural fertilisers and plant protection product expo opens in HCM City
A wide range of fertilisers, agricultural machinery, packaging equipment, pesticides and and other products are on display at the third international exhibition for the fertilizer and pesticide industry at an expo that opened in HCM City today (June 11).
— Viet Nam News

Vietnam startups to receive US$425M investments from multiple VCs
Over the next three years, venture capitals like 500 Startups and Golden Gate Ventures among others have pledged to invest into Vietnamese startups Golden Gate Ventures, Access Ventures, Burda Principal Investments, 500 Startups, Jungle Ventures, and Cyberagent Ventures, among others, have signed.
— e27

5 Restaurants In Vietnam That Will Make You Feel Relaxed
Vietnamese food is now making its way in the international scene for its healthier take on different dishes. Vietnam is known for using less oil and meat and incorporating meals with a lot of vegetables.
— Vietnam Insider

Samsung Vietnam profits drop, display subsidiary in the red
Samsung Electronics’ four subsidiaries in Vietnam reported first quarter profits were down 29 percent year-on-year with the LCD screen business posting losses.
— VnExpress

Vietnam sees new movement of FDI inflows
The investment inflow from China to Vietnam is seeing big changes with large investors pouring into the country, instead of just small ones as previously.
— The Hanoitimes

Ba Ria – Vung Tau lures capital from Japan
The southern province of Ba Ria – Vung Tau is working to draw more investment from Japan as it defined the country as one of its future strategic investors, said the provincial Department of Planning and Investment.
— VietnamPlus

How China’s Belt and Road Initiative could lead Vietnam away from renewable energy and towards coal
Even as China turns away from coal-fired power domestically, its financial institutions continue to fund coal plants overseas, including in countries like Vietnam, which have great potential for wind and solar power generation.
— South China Morning Post

Vietnamese model who wore see-through dress to Cannes could be fined in Vietnam for indecency
Vietnam’s Minister of Culture, Sports and Tourism said the dress caused public outrage.
— Mothership

Victims of Formosa spill in Vietnam seek compensation
TAIPEI: Lawyers in Taiwan launched a multi-million dollar lawsuit against the industrial conglomerate Formosa on Tuesday (Jun 11), on behalf of thousands of Vietnamese whose livelihoods were ruined by a toxic spill that devastated fish stocks.
— Channel NewsAsia

Plastic waste management policies need improvement: seminar
Hanoi (VNA) – A seminar in Hanoi on June 10 highlighted the fact that existing policies and laws on plastic waste management have yet to match this type of waste’s impacts on the environment and human health.
— VietnamPlus

Company fined for releasing untreated waste water
Đắk Mil Bazan Stone Company in the Central Highland province of Đắk Nông has received a fine of VNĐ108 million (US$4,600) for releasing untreated waste water.
— Viet Nam Net

Share rally narrows in afternoon trade
Vietnamese markets had a good start on Monday thanks to the performance of large-cap stocks but momentum narrowed in the afternoon.
— Viet Nam News

 

Feature photo Vietnam Red Cross Society

This week’s Vietnam morning news photo features World Blood donor Day, June 14.

 

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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