Vietnam morning news for June 21

Vietnam morning news for June 21

Vietnam morning newsVietnam named among Apple’s favorites for smartphone diversification from China
The US tech giant is believed to ask its major suppliers to evaluate the cost implications of shifting 15% to 30% of their production capacity from China to Southeast Asia as it prepares for a fundamental restructuring of its supply chain.
— The Hanoitimes

Huawei prices dropped across Vietnamese e-commerce after the ban
Selling prices of Huawei’s smartphones are taking a dive on Vietnamese e-commerce websites, almost a month after the American government restricted companies in the U.S. from supplying products to the Chinese company, according a new research by price aggregator iPrice Group.
— Vietnam Insider

Vietnam to impose temporary anti-dumping duties on Chinese, RoK steel products
The Ministry of Industry and Trade (MOIT) has issued a decision to apply temporary anti-dumping measures on several colour coated steel products imported from China and the Republic of Korea (RoK).
— NDO

19 State-owned groups to undergo financial supervision
The Management of State Capital at Enterprises (CMSC) plans to strengthen the supersivion and management of state capital and assets at 19 State-owned groups and corporations.
— Viet Nam News

Expanding export market of textile and garment sector
Vietnam’s textile and garment sector posted a total export revenue of US$11.43 billion in the first four months of this year, a year-on-year increase off 9.56%; however textile and apparel products were exported mainly to traditional markets.
— NDO

E-wallet firms tussle for bigger slice of the pie
Recent mergers and acquisitions in Vietnam’s fintech industry indicate a strategic fight for e-wallet market share.
— VnExpress

Banks urged to prepare for new financial reporting standards
Under the draft IFRS roadmap released recently by the Ministry of Finance, IFRS implementation will become compulsory for the consolidated financial statements of all State-owned enterprises, listed companies and large-scale unlisted public companies after 2025.
— Viet Nam News

Food companies target increasingly adventurous consumers
Asian consumers are increasingly adventurous about exploring and experiencing new foods and beverages, according to the Vietnamese High Quality Products Business Association.
— Viet Nam News

Vietnam’s state-owned Vinapharm plans to divest 35% stake this year
State-owned Vietnam Pharmaceutical Corporation (Vinapharm), one of the leading Vietnamese pharma firms, plans to sell 35 per cent stake this year and another 30 per cent in 2020.
— DealStreetAsia

Japanese firm to build coffee processing plant in Vietnam
Marubeni Corporation of Japan said it plans to invest JPY 12.7 billion (US$ 117.7 million) for building an instant coffee processing plant in an industrial park in the southern province of Ba Ria – Vung Tau.
— Sggp News

Vietnam issues ICT reference framework for smart city development
According to a press release, an ICT reference framework for the development of smart cities (version 1.0) has been issued by the Ministry of Information and Communications (MIC) as a basis for localities and businesses to develop smart city projects.
— OpenGovAsia

Hanoi serves nearly 14.4 million visitors so far
Hanoi welcomed nearly 14.4 million visitors so far this year, up 9.5% over the same period last year, including more than 3.3 million foreign tourists, a year on year rise of 10.6%, reported the municipal Department of Tourism.
— NDO

Direct flight launched between India, Vietnam
Vietnam’s Ambassador to India, Pham Sanh Chau also expressed his pleasure at Prime Minister Narendra Modi’s win at the 2019 Lok Sabha elections, outlining the steps taken towards the further strengthening of India-Vietnam relations under Modi’s leadership.
— India Today

HCM City connects biodegradable production enterprises with food enterprises
The HCM City Department of Industry and Trade has established linkages between 32 biodegradable plastic bag production enterprises and food enterprises.
— Viet Nam Net

Certificate of Eligibility goes online for garment and textile exports
The Ministry of Industry and Trade (MoIT) on Thursday officially launched an electronic certificate of eligibility (C/E) issuance system for garment and textile exports to Mexico.
— Viet Nam News

Vietnam calls in Russian experts to help preserve corpse of Ho Chi Minh
Vietnam has formed a special team of experts, including four Russian scientists, to help preserve the embalmed body of the Communist-ruled state’s founding leader, Ho Chi Minh, according to a written copy of the official decision seen by Reuters.
— Reuters

Hoi An has been praised as one of the most beautiful towns in Southeast Asia
The US Cable News Network (CNN) has praised Hoi An as easily one of the most beautiful towns in Southeast Asia.
— Vietnam Insider

What does world leading consultant suggest Vietnam to unlock offshore wind potential?
First and foremost, Vietnam needs to declare its official ambitions and targets for offshore wind, according to DNV GL.
— The Hanoitimes

International Symposium on Tropical Fruits, Vietnam 24-26 September
The deadline for submission of abstracts for the International Symposium on Tropical Fruits (ISTF2019) has been extended to 28 June 2019.
— Fresh Plaza

Vietnam to deepen ties with Myanmar
A recent Vietnamese delegation to Nay Pyi Taw led by the country’s Deputy Prime Minister Mr. Vuong Dinh Hue is hoping to boost investment and trade ties with Myanmar.
— Myanmar Times

Vietnamese firms join Samsung consultation programme
Sixty Vietnamese enterprises have participated in a consultation programme supported by Samsung experts since 2015, helping to reduce their error rates and improve productivity.
— Viet Nam News

Vietnam backs commitments to enhancing ties with Ivory Coast: PM
Vietnam supports commitments to promoting cooperation between the country and Ivory Coast in not only economy but also other spheres, including national defence, Prime Minister Nguyen Xuan Phuc said on June 19.
— NDO

Cần Thơ welcomes Japanese investment: municipal official
Japanese investors are welcome in Cần Thơ and local authorities will create favourable conditions to lure more foreign investment, according to vice chairman of the city’s People’s Committee Dương Tấn Hiển.
— Viet Nam News

VMAC builds strategy for debt trading
The Việt Nam Asset Management Company is planning to develop a new strategy for buying and selling bad debts in Việt Nam this year, in which it will play a central role to promote the development of the debt trading market.
— Viet Nam News

Three Chinese men detained in Vietnam for $32,000 theft
Thanh Hoa police have arrested three Chinese for breaking into companies, drilling into safe boxes and stealing cash and gold.
— VnExpress

Positive economic climate attracts businesses, says AHK outlook
The AHK world business outlook 2019 was released in Hà Nội yesterday by the Association of German Chambers of Commerce and Industry (AHK) in Việt Nam at a press conference.
— Viet Nam News

Exporters of farm produce face tougher standards in China
Vietnamese exports of agricultural products must meet food safety, quality and traceability requirements to China which now requires that exports be sent through official channels only, speakers said yesterday (June 20) at a meeting held in HCM City.
— Viet Nam News

Vietnam showcases its technologies at ConnecTech Asia 2019
Many technological products that are made in Vietnam are being showcased at ConnecTech Asia 2019, one of the largest information and technology events in the region, from June 18-20 in Singapore.
— NDO

Supermarkets develop their own brand products
In Hà Nội, most major supermarkets such as Vinmart, Co.opmart, Hapro and Big C sell many supermarket-branded products.
— Viet Nam News

Fed future plan on rate cuts lift VN stocks
Vietnamese shares joined cheered global markets yesterday after the Fed eyed rate cuts from next month and investors hoped for possible trade war solutions at the G20 summit next week.
— Viet Nam News

Thái Bình seeks Singaporean investment
The northern province of Thái Bình called on Singaporean businesses to invest in prioritised projects during a conference held in Singapore on Wednesday.
— Viet Nam News

BZZ offloads GTNfoods shares
BZZ Invest Joint Stock Company has offloaded its entire holding in the Vietnamese food company GTNfoods.
— Viet Nam News

International agriculture fairs kick off in HCM City
The HCM City Department of Industry and Trade and local business associations have organised several international agriculture fairs at Phú Thọ Stadium in District 11 from June 19 to 22.
— Viet Nam News

Việt Nam, Israel share experience in innovation
Vietnamese and Israeli experts, businesses, officials and researchers discussed policies on innovation for Việt Nam during a conference in Hà Nội on Wednesday.
— Viet Nam News

Sơn La exports first batch of mangoes to UK
The first batch of three tonnes of mangoes, grown in Yên Châu District in the northern mountainous province of Sơn La, were packaged on June 19 for export to the UK.
— Viet Nam News

HAGL Agrico to sell rubber company to Thadi
Hoàng Anh Gia Lai Agrico (HAGL Agrico) plans to sell its 100 per cent of its stake in Đông Dương Rubber Investment and Development Co Ltd to Thadi Agriculture Production And Processing Joint-Stock Company.
— Viet Nam News

Vietnam finds no violations in Grab’s acquisition of Uber’s local business
A Vietnamese competition council has concluded that Grab’s acquisition of Uber’s Vietnam operations in 2018 did not infringe competition laws in the country.
— DealStreetAsia

Vietnam calls for multinational efforts to cope with global security threats
Ensuring national security and sustainable socio-economic development in the context of growing security threats is an urgent and challenging task for all countries around the world, which needs their concerted efforts, Vietnamese Minister of Public Security General To Lam has said.
— NDO

VFMVN30 becomes largest domestic exchange-traded fund
The portfolio value of Việt Nam’s first exchange-traded fund (ETF) VFMVN30 as of June 13 touched VNĐ6.3 trillion (US$272 million), making it the largest domestic stock fund in the market.
— Viet Nam News

VMAC builds strategy for debt trading
The Việt Nam Asset Management Company (VAMC) is planning to develop a new strategy for buying and selling bad debts in Việt Nam this year, in which it will play a central role to promote the development of the debt trading market.
— Viet Nam News

Vietnam sees surge in auto sales
Auto sales rose by 22 percent year-on-year to 126,753 units in the first five months of the year, the Vietnam Automobile Manufacturers Association said.
— VnExpress

Vietnamese startup Abivin taps AI to ease logistics headaches
Four years after an unplanned opportunity switched their focus to logistics, founders of Vietnam startup Abivin, Long Pham and Cassie Nguyen, are looking to expand even further across Southeast Asia.
— Nikkei Asian Review

Vietnam and Thailand top Asia Pacific destinations for Russians
Vietnam is becoming one of the top destinations in the Asia Pacific region for Russian visitors, with the favourite Thailand still a close second, according to global travel analysis firm ForwardKeys.
— The Thaiger

 

Feature photo Justice for Lai Dai Han

This week’s Vietnam morning news feature photo acknowledges International Day for the Elimination of Sexual Violence in Conflict, June 19.

 

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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