Vietnam morning news for June 4

Vietnam morning news for June 4

Vietnam morning newsHo Chi Minh City calls for investment to build $210 million financial hub
HCMC is soliciting investment to build a VND4.9 trillion ($210 million) financial, banking and trade center in Thu Thiem New Urban Area.
— VnExpress

Vietnamese outbound investments reach US$183 million
According to the Foreign Investment Agency under the Ministry of Planning and Investment, in the first five months of this year Vietnamese enterprises have invested US$183.1 million overseas.
— Sggp News

Long Thanh Airport construction to start by end-2020
The Ministry of Transport has said the construction of the Long Thanh International Airport will be started at the end of 2020.
— Vietnam Insider

Vietnam Supports Solar and More Coal Generation
The first solar power plant licensed to operate in Vietnam came online in late April, another signal of the country’s increasing reliance on renewable energy.
— Power Mag

Nearly 54,000 new businesses established in first five months of 2019
According to the General Statistics Office of Vietnam there were nearly 54,000 newly-established firms with the total capital of nearly VND 670, 000 billion (US$ 28.6 billion) in the first five months, an increase of 3.2 percent in quantity and 29.6 percent in term of capital compared to the same period last year.
— Sggp News

Investors benefit from Vietnam’s new planning law
The new policies will simplify procedures, explaining that instead of 95 laws and ordinances, investors only have to relate to two legal documents regulating planning. This is a way to reduce administrative procedures and increase transparency and stability of the law.
— The Hanoitimes

Tourism a big winner as South Korea-Vietnam partnership develops
Evidence of how far relations between South Korea and Vietnam have developed came in an unusual form in Hue. The mayor of South Korea’s Namyangju City gifted a statue of a naked man to his Vietnamese counterpart.
— Asean today

Expert questions sustainability of Vietnam’s export-led growth model
The overall exports pattern of Vietnam portrays its similarities with export-led growth model of Mexico, which has turned itself into export production platforms for foreign multinationals, rather than developing own indigenous industrial capacity.
— The Hanoitimes

Inside China’s state-owned industrial park in Vietnam, Beijing’s image trumps trade war profits
Until the middle of 2018, business was slow for the only Chinese state-owned industrial park in Vietnam, located in the northeastern manufacturing hub of Haiphong and wholly-owned by the Shenzhen city government.
— South China Morning Post

Fire, explosion casualties down in Vietnam in 5 months
A total of 1,581 fires and explosions broke out in Vietnam in the first five months of this year, killing 55 people and injuring 83 others.
— Xinhua

Colliers International in Vietnam releases the Vietnam Quarterly Knowledge Report Q1 2019.
The Colliers International Vietnam Quarterly Knowledge Report Q1 2019 briefly introduces national economic indicators such as GDP, CPI, FDI, Retail Sales and Trade Balance, and focuses on the market insights of each real estate sector.
— Retalk Asia

Silver Heritage Group’s future in limbo as loss of Vietnam business impacts ability to repay debt
The unexpected loss of its Vietnam business has left Southeast Asian casino operator Silver Heritage Group in need of additional funding if it is to meet an upcoming US$2 million repayment of bonds.
— Asgam

ANI eyes JV with Vietnam rice supplier
Agricultural trader Agrinurture Inc. (ANI) aims to be a major player in the country’s newly liberalized rice trading regime with a potential deal with the state-controlled Vietnam Southern Food Corp (Vinafood II) to bring in two million metric tons of Vietnamese rice to the Philippines a year.
— Inquirer.net

Viettel completes Vietnam’s first 5G call
Vietnamese military-run operator Viettel has completed the nation’s first 5G call in collaboration with Ericsson.
— Retail News

Philippines, Vietnam lead FMCG sales growth in Southeast Asia
The Philippines and Vietnam led Southeast Asian FMCG sales growth last year, according to a report by market research company Nielsen.
— Insider Retail

Vietnam’s ruined church, Hindu temple complex among CNN’s abandoned sacred places
An abandoned church in Nam Dinh and the cluster of Hindu temples at My Son are on CNN’s list of abandoned sacred places.
— VnExpress

Vinalines buys backs 75% stake in central port
State-owned Vietnam National Shipping Lines (Vinalines) has paid VNĐ415 billion (US$17.8 million) to reacquire a 75 per cent stake in Quy Nhơn Port JSC, which it had sold illegally to Hợp Thành Investment & Mineral JSC without the Government’s approval.
— Viet Nam News

Solving maritime disputes requires multilateral cooperation, Hanoi says
Vietnam calls for the cooperation of all related stakeholders in the South China Sea in restraining risks and conflicts, Vietnamese Defense Minister Ngo Xuan Lich has said at the 18th Shangri-La Dialogue in Singapore.
— The Hanoitimes

Vietnam Tops List of Biggest Winners From U.S.-China Trade War
Vietnam is by far the biggest winner from the U.S.-China trade war so far as importers look to divert their orders to bypass higher tariffs.
— BloomBerg

Apparel maker Vinatex promotes trade in Canada
General Director of the Vietnam National Textile and Garment Group (Vinatex) Lê Tiến Trường has said Vinatex will promote trade in Canada to tap opportunities brought by the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
— Viet Nam News

In Vietnam, Women Push Back on Work Culture Created by Men
The world of work continues to tell women what they have to do to succeed in a hyper competitive business environment.
— VOA

May’s new order growth of Việt Nam’s manufacturing fastest in year-to-date
Việt Nam Manufacturing Purchasing Managers’ Index (PMI) posted 52.0 in May, down marginally from 52.5 in April but still representing an improvement in business conditions in the Vietnamese manufacturing sector.
— Viet Nam News

Will Vietnam Overtake Thailand as Asian Playground for Russians?
Europe is the top growing source for the Asia-Pacific, and it’s not because of growth from Asia’s traditional European markets such as the United Kingdom. It’s because of a huge spike in Russian arrivals. And Vietnam benefits.
— Skift

Trade war fears darken VN stocks
Growing tension between the US and China continued to cast a shadow over Vietnamese shares on Monday, sending the benchmark VN-Index below the 950-point mark.
— Viet Nam News

Hanoi’s economy continues to grow
Hanoi’s economy continue to grow in the first five months of this year, reported Director of the municipal Department of Planning and Investment Nguyen Manh Quyen at a recent conference held by the municipal People’s Committee.
— VietnamPlus

Tiki sees music video as route to e-commerce dominance
Tiki, which is locked in a fierce battle with other e-commerce giants, is looking at a new strategy to attract more customers: music videos.
— VnExpress

Petrol prices drop in latest review
The retail prices of oil and petrol were adjusted down from 3pm last Saturday following a decision by the ministries of Finance, and Industry and Trade.
— Viet Nam News

Economic, trade promotion seminars held in Italian cities
The European Union – Vietnam Free Trade Agreement (EVFTA) will open up opportunities for Italian firms, especially- small and medium-sized ones, heard recent bilateral economic and trade promotion seminars held in Parma and Piacenza cities, the Italian northern region of Emilia – Romagna.
— VietnamPlus

Agriculture sector gains trade surplus of $3.3 billion in five months
The agriculture sector gained a trade surplus of US$3.3 billion in the first five months of this year, according to the Ministry of Agriculture and Rural Development.
— Viet Nam News

Apparel maker Vinatex promotes trade in Canada
General Director of the Vietnam National Textile and Garment Group (Vinatex) Le Tien Truong has said Vinatex will promote trade in Canada to tap opportunities brought by the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).
— VietnamPlus

Vinamilk to pay third round dividend
The Vietnam Dairy Products Joint Stock Company (Vinamilk) will pay VNÐ2.6 trillion (US$112.3 million) for the remainder of the 2018 dividend payout on June 26.
— Viet Nam News

SA man still missing in Vietnam despite ‘fake’ Facebook posts
Hopes of finding a South African man have been dashed after he went missing in Vietnam, where he was teaching.
— News24

Six firms to have listings cancelled in June
Six companies will have their listings on the Hà N?i Stock Exchange cancelled in June.
— Viet Nam News

Vietnam’s first parliament speaker Nguyen Van To commemorated
A ceremony was held on June 2 to mark the 130th anniversary of the birth of Nguyen Van To, the first chairman of Vietnam’s National Assembly (NA).
— NDO

Viet Nam’s industrial production rises 9.4 per cent in five months
Vi?t Nam’s industrial production index (IIP) rose 9.4 per cent in the first five months of 2019, driven by growth in the processing and manufacturing industry, power production and distribution, and water supply and waste treatment, data from the General Statistics Office (GSO) …
— Viet Nam News

South Korean startups seek investment opportunities in Vietnam
Five most successful startups were selected from more than 100 South Korean firms to introduce their best projects at the Saigon Innovation Hub (SIHUB) under the Ho Chi Minh City Department of Science and Technology on June 3.
— Sggp News

Trade war fears likely to dampen market performance this week
Rising fears about the US-China trade war are forecast to continue to drag down market sentiment and dampen investor confidence.
— Viet Nam News

VNDS to sell covered warrants for two stocks
VNDirect Securities Corporation (VNDS) will issue covered warrants that underline shares of Mobile World Investment Corporation (HoSE: MWG) and FPT Corporation (HoSE: FPT) on June 10.
— Viet Nam News

 

Feature photo Communist Party of Vietnam Online Newspaper

This week’s morning news photo features International Day for the Fight against Illegal, Unreported and Unregulated Fishing, June 5.

 

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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