Vietnam Morning News For June 13

Vietnam ramps up pressure on Google’s YouTube advertisers
Vietnam has asked companies not to advertise on videos hosted by Google’s YouTube that contain “anti-state propaganda,” state media said on Wednesday (Jun 12), as the Southeast Asian country ramps up pressure on global tech giants.
— Channel NewsAsia

Vietnam’s plastic import rises slightly in 5 months
Vietnam spent nearly 3.7 billion U.S. dollars importing roughly 2.5 million tons of plastic in the first five months of this year, posting respective year-on-year rises of 2.4 percent and 12.8 percent.
— Xinhua

Vietcombank takes big stride in international market
The Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) has been named in the 17th annual Global 2000 – Forbes’ ranking of the World’s Largest Public Companies in 2019.
— VietnamPlus

New solar cheaper than coal in Vietnam within three years
A study of the relative costs of generation using coal and PV has focused on Vietnam as a case study as the nation is dependent on costly imports of seaborne coal. Analysts paint a straightforward picture explaining why a planned 32 GW new coal pipeline should be shelved.
— PV Magazine

Government to crack down on trade fraud
The Government will adopt stricter penalties to prevent foreign goods being exported to other markets under Vietnamese labels to avoid tariffs.
— Viet Nam News

Vietnam’s seniors shows age no bar to consumption
Elderly population is increasing but its purchasing power is set to grow the fastest of all demographics, a study has found.
— VnExpress

Vietnam’s May coal imports rise 57% on year to 3.86 mil mt
Hanoi — Vietnam imported 3.86 million mt of coal in May, comprising mainly thermal coal and coking coal, surging 57.1% from the same month in 2018, according to preliminary data released by Vietnam Customs on Tuesday.
— SP Global

Vietnam to removes daily transaction limit for e-wallet users
Following the removal of the limit, Vietnam’s central bank said it would only maintain the monthly limit of VND100 million (US$4,284) for each individual.
— Vietnam Insider

VIB proposes cashless solutions in Vietnam
On June 11, 2019, Ms Tran Thu Huong, Head of Retail Banking – Strategic Businesses cum Head of Strategy & Business Support Department of Vietnam International Bank (VIB), shared VIB’s experience regarding its initiatives to pivot to cashless transactions and emphasized benefits to consumers at a conference entitled “Cashless society: policies and realities in Vietnam.”
— Vietnam Insider

VN to be among world’s most dynamic markets by 2030
With an emerging market economy and continued strong growth, Việt Nam is set to become one of the most dynamic markets in the world by 2030, according to Euromonitor International, a global market research company.
— Viet Nam News

Tan Son Nhat airport to stop making announcements via loudspeakers
Passengers at Tan Son Nhat International Airport in Ho Chi Minh City will from next month have to keep track of their flight information, save for boarding gate changes, by themselves as they will no longer receive reminders via the loudspeaker system there.
— Vietnam Insider

Overseas Vietnamese help local startups
Many overseas Vietnamese have returned to Vietnam to start their business as they see high potential and good economic growth.
— VietnamPlus

Việt Nam gathers opinions on direct power purchase agreement
The Ministry of Industry and Trade (MoIT) and the US Embassy on Wednesday introduced a proposal for a Direct Power Purchase Agreement (DPPA) in Việt Nam.
— Viet Nam News

Venture capital funds commit almost half a billion dollars to VN startups
Eighteen local and domestic venture capital funds have committed investment of about VNĐ10 trillion (US$429.2 million) to Vietnamese start-ups over the next three years.
— Viet Nam News

Becamex IDC to pay 6% dividend in August
The Investment and Industrial Development Corporation (Becamex IDC) will pay a 6 per cent dividend payout in cash on August 1.
— Viet Nam News

Province suffered Vietnam’s hottest-ever month on record in April
With temperatures topping 43.4 degrees Celsius in April, Ha Tinh Province in north-central Vietnam just went through the country’s hottest month ever recorded as 2019 might be on course for being the sultriest year in Vietnam’s history.
— 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

China and Vietnam crack down on illegal online gambling
If citizens of China and Vietnam needed any reminder, online gambling is still illegal in those countries.
— Vietnam Insider

Việt Nam must remove regulatory challenges to encourage wind energy
Việt Nam has to cope with regulatory challenges to attract investors and accelerate the development of wind power projects in the long term, experts recommended yesterday at the Việt Nam Wind Power conference hosted by the Global Wind Energy Council (GWEC) in Hà Nội.
— Viet Nam News

Two Vietnam payments start-ups set to merge
Two of Vietnam’s payments start-ups are merging to add scale in the market where cashless payments are booming.
— The Malaysian Reserve

US man to face death penalty trial in Vietnam
A Vietnamese-American man charged with “attempting to overthrow the state” will go on trial in Ho Chi Minh City on June 24, his family said, and could face the death penalty if found guilty.
— The Phnom Penh Post

Hà Nội publishes draft compensation plan for residents near landfill
The People’s Committee of Hà Nội’s Sóc Sơn District has published a draft compensation plan for households living around the Nam Sơn dump, the largest waste dump in the city.
— Viet Nam Net

Vietnam’s gender imbalance worsens
In 2018, Vietnam`s sex ratio at birth was 115.1 boys/100 girls, representing an increase of 3% compared to 2017 and failing to reach the target of reducing the ratio to 112.8 boys/100 girls.
— The Hanoitimes

Vietnam moves to liberalize its power market
The Direct Power Purchase Agreement (DPPA) will allow businesses in Vietnam to procure electricity directly from private firms producing renewable energy and enable them to power their operations with 100 percent renewable energy.
— The Hanoitimes

Stark contrasts in Vietnam’s automobile industry
Not only did VinFast successfully catch international attention but it also highlighted the “national pride” among the domestic consumers.
— The Hanoitimes

Vân Đ”n Economic Zone lays out $357.2 million development plan
The People’s Committee of northeastern Quảng Ninh Province has released a plan to implement Prime Minister Nguy Xuân Phúc’s conclusions on the development of Vân Đ�”n Economic Zone (EZ) that would require more than VNĐ8.35 trillion (US$357.2 million) to expand its infrastructure by …
— Viet Nam News

LITE-ON Aims to Expand Vietnam Market with IIoT Gateway Solution
The VIMF 2019 (Vietnam Industrial Manufacturing Fair 2019) kicks off on June 12th in Ho Chi Minh City, Vietnam. LITE-ON Technology will showcase the theme of “Upgrade to the Future” through its IIoT gateway debut along with smart factory condition monitoring system that consists of current VFD (Variable Frequency Drive), servo motor, and HMI (Human Machine Interface).
— Yahoo News

Vinafood 2 eyes higher revenue
Việt Nam Southern Food Corporation (Vinafood 2) has set 2019’s revenue at nearly VNĐ21.29 trillion (US$913.73 million), a year-on-year increase of 19 per cent, and does not plan to pay a dividend to compensate for losses in 2018.
— Viet Nam News

Hong Kong – ASEAN FTA deemed big win for Vietnam
The stronger trade flow would boost Vietnam’s productivity and industrial capacity, enabling the country to further take advantage of trade diversion.
— The Hanoitimes

Shares ease on low demand
Shares tumbled on Wednesday on low liquidity due to weak market sentiment as investors adopted a wait-and-watch approach with little capital injection.
— Viet Nam News

Top coffee chains record double digit growth
Five coffee chains are locked in a race for top spot in Vietnam, but Highlands Coffee is the clear leader so far.
— VnExpress

Vietnam high on CNN travel list
Vietnam’s capital Hanoi and Phu Quoc island off Vietnam’s southern coast both made it to CNN’ s list of the 17 best places to visit in Asia.
— TTR Weekly

Fitch sees positive outlook for Việt Nam
Việt Nam’s long-term issuer default rating (IDR) has been upgraded to positive from stable, thanks to its improving track record of economic management, evidenced by high growth with stable inflation.
— Viet Nam News

Vietnam jails shipbuilding executive in graft crackdown
A Vietnam shipbuilding magnate has been sentenced to 13 years in jail for embezzlement, according to state media, the latest victim of an unprecedented anti-corruption drive in the communist country.
— Chaneel NewsAsia

Bình Phước inks deal to expand Su�’i Cam tourism complex
On Monday, Bình Phước People’s Committee and a joint venture between Phúc An Khang Co, Licogi 13 Co and Trung Chính Co have inked a deal to develop the second phase of the Su�’i Cam tourism complex in the province.
— Viet Nam News

Lack of positive news hits market
Vietnamese shares tumbled on Tuesday as a lack of supportive business information dampened investor confidence in the market’s short-term growth potential.
— Viet Nam News

Feature photo Vietnam Red Cross Society

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

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