Vietnam morning news for May 17

Vietnam morning news for May 17

Vietnam morning news

Industry 4.0 could boost Việt Nam’s GDP by up to 16 per cent
The Fourth Industrial Revolution could increase Việt Nam’s GDP by between US$28.5 billion and $62 billion by 2030, equivalent to a rise of 7-16 per cent, according to the Central Institute for Economic Management (CIEM).
— Viet Nam News

Labor Outsourcing in Vietnam: 5 Key Reforms from Decree 29
Vietnam recently issued new updates on labor outsourcing regulations under Decree 29/2019/ND-CP (Decree 29). The new regulation came into effect on May 5 and details guidelines on Clause 3 of Article 54 of the Labor Code regarding outsourcing services, deposit payment and the list of permissible outsourced jobs.
— Vietnam Briefing

Why Vietnam is Overtaking China as a Destination for US Export Manufacturing
As has been the case for several emerging Asian countries, Vietnam has followed an export-led growth model, combining trade liberalization and foreign direct investment promotion to spur exports.
— China Briefing

Humans and technology key to Viet Nam’s new-stage development
New technology and skilled human resources were the decisive factors to drive Viet Nam’s long-term growth, especially in the face of Industry 4.0-induced changes.
— Bizhub

Vietnam automaker buys 7.86 percent stake in agriculture company
Truong Hai Auto Corporation has acquired a 7.86 percent stake in rubber and fruit producer Hoang Anh Gia Lai Agrico.
— VnExpress

VN needs to improve economic resilience: experts
It is critical to improve the resilience of the Vietnamese economy to withstand and recover from external shocks, experts told a conference in Hà Nội on Wednesday.
— Viet Nam News

Vietnam leverages foreign investors in SOE privatization
Vietnam expects to speed up the privatization process which has been at slow pace over the past years.
— The Hanoitimes

Vietnam Can Turn Into A Developing Country With Technological Advancements
Vietnam has been working hard on boosting its economy over the past three decades and while the country has not experienced a recession in over 30 years, analysts said local economy can further be propelled through technological developments.
— Vietnam Insider

Digitization could add 1.1 percent to Vietnam’s GDP growth
Digitization could contribute 1.1 percent GDP per year to Vietnam until 2045, experts say.
— VnExpress

Hà Nam grants licences for two projects
Hà Nam Province People’s Committee on Wednesday granted investment licences for two projects, worth a total of US$52 million.
— Viet Nam News

Food Safety, Pollution Top Vietnam’s Latest Survey of Public Concerns
The biggest worries among Vietnamese people are food safety, pollution, and corruption, according to a new survey that suggests not enough has been done about these issues since they were raised two years ago.
— VOA

Birdies on a plane: Vietnam’s Bamboo airways banks on golf resorts for success
As Vietnam’s aviation sector booms and passenger numbers rise at double-digit rates, local upstart Bamboo Airways is embracing what it hopes will be a novel way of standing out in a crowded market: Golf.
— Euro news

Multi-currency e-wallet YouTrip secures US$25.5m funding
The Singapore-based mobile wallet plans to expand its multi-currency across Southeast Asia YouTrip, Singapore’s first multi-currency mobile wallet with a prepaid Mastercard® that offers zero transaction fees across 150+ currencies at wholesale exchange rates, announced that it has raised US$25.5 …
— e27

Treat detained fishermen humanely, Vietnam requests Malaysia
Vietnam has proposed an amicable settlement after 29 Vietnamese fishermen were caught in Malaysian waters last Saturday.
— VnExpress

Phoenix Petroleum expands in Vietnam
Businessman Dennis Uy further expands his oil business overseas as it acquired a majority stake in Vietnam’s major liquefied petroleum gas (LPG) company as part of its Asia-Pacific expansion.
— PhilStar

Auchan to sell Vietnam business
The French supermarket group’s CEO Edgar Bonte told newspaper Les Echos that the group had decided to sell its 18 stores in Vietnam which currently generate sales of US$50.4 million.
— Insider retail

Vietnam promotes export of avocados to US market
Along with Vietnamese mangoes exported to the United States market after nearly 10 years of negotiations, Vietnam is currently promoted export of avocados to the market.
— Sggp News

Mitsui confirms $150 million stake in Vietnam shrimp giant
The $150 million investment in the Vietnamese shrimp giant is part of the conglomerate’s wider focus on nutrition as a key growth area for its business.
— Intrafish

Thai firm to export poultry products by 2020
The Thai-funded C.P. Vietnam Corporation said it will begin shipping Vietnamese processed poultry products to Asia and Europe in the second quarter of 2020, with export volume estimated at 3,000 tonnes per month.
— VietnamPlus

Shareholders should use their power to deal with rumours: officials
Shareholders were unaware of the power they held when dealing with a lack of transparency in listed companies, according to Nguyn Thế Thọ, director of the Securities Market Surveillance Department under the State Securities Commission.
— Viet Nam News

Management on solid waste to be strengthened
Experts discussed measures to promote a sustainable and effective waste management service in Southeast Asian suburban and urban areas in a conference on Wednesday in Hà Nội.
— Viet Nam Net

Vietnamese, French firms encouraged to expand cooperation in aviation
Deputy Prime Minister Trinh Dinh Dung spoke highly of France’s investment in Vietnam while hosting a reception in Hanoi on May 15 for several large French enterprises operating in infrastructure and aviation.
— VietnamPlus

Central bank depreciates the greenback against
The SBV on Thursday announced a daily reference exchange rate of VNĐ23,056 per dollar, down VNĐ8 against the previous day
— Viet Nam News

How can Vietnam avoid the middle-income trap?
Vietnam is one of the great economic success stories of the 21st century thus far. Just a generation ago, the country was one of the poorest in the world, scarred by decades of conflict and with an economy stifled by a central planning system.
— Brookings

Central province to host TechFest
According to the Ministry of Science and Technology, there are currently more than 3,000 start-ups in Viet Nam
— Viet Nam News

Breakup of state monopoly in public services to create competition: VCCI
The government should focus on drafting and perfecting legal framework, while divesting state resources from providing general public services that the private sector are capable of.
— The Hanoitimes

1400 Corp 3 Vietjet offers special promotion for Việt Nam-Japan routes
Vietjet is offering travellers a new treat with an exclusive promotion for all its Japan routes, the airline announced on Wednesday.
— Viet Nam News

CP Việt Nam to export poultry products by 2020
The project will include an animal feed plant to produce 300,000 tonnes of feed annually and five farms producing breeding chicken with a total capacity of 53.6 million chicks each year
— Viet Nam News

Vietnam Airlines offers 7.5 million seats in summer
In the peak three months, the carrier will offer more than 4.8 million seats for domestic flights, up 422,000 seats year-on-year
— Viet Nam News

Vingroup sell US$1 billion stake to South Korean firm
Việt Nam’s real estate, tech and retail conglomerate Vingroup JSC (Vingroup) yesterday signed a billion dollar deal with the Republic of Korea’s SK Group.
— Viet Nam News

Vietnam denies keeping political prisoners
Vietnam denied that it held any “prisoners of conscience”, calling an Amnesty International report — which said the Communist government is jailing more of its critics — “unfounded”.
— The Malaysian Reserve

Vinalines to hold shareholders’ meeting in June
In preparation for equitisation, the corporation has held two share offerings, in which the initial public offering attracted 42 investors who registered to buy nearly 5.5 million shares
— Viet Nam News

Chinese companies moving to Vietnam keep quiet on trade war to avoid wrath of authorities and staff
Many factory owners planning to relocate outside China fear response from Chinese governments, employees, suppliers and local communities
— South China Morning Post

Cuba welcomes Vietnamese businesses, investors: official
Cuba stands ready to support Vietnamese businesses and investors, President of the Cuban Chamber of Commerce Orlando Hernandez has said.
— Viet Nam News

Risk of money laundering in Việt Nam assessed at ‘average level’
The risk of money laundering in Việt Nam was at “an average level”, according to a State Bank of Việt Nam (SBV) report released on Wednesday.
— Vietnam Insider

Central province to host TechFest
According to the Ministry of Science and Technology, there are currently more than 3,000 start-ups in Viet Nam
— Viet Nam News

ASEAN’s New Economic Player: Vietnam’s Industry 4.0, Opportunities And Challenges – Analysis
Vietnam is trying to leap-frog to close the gap with other ASEAN countries by leveraging high-technologies to boost Vietnam economy. Not to be left behind other nations, Vietnam is riding on the Fourth Industrial Revolution to develop action plans to attract both technical domestic and foreign investors.
— Eurasia Review

Vietnamese solar power manufacturer expands in New Zealand
The centre was designed with total capacity of 10.8 kWp to generate an average of 11,997 kWh per year, while reducing emissions of 9.7 tonnes of carbon to the environment
— Viet Nam News

Hot development leading to tourism property bubble
Many real estate firms which previously focused on high-end apartment projects have jumped into the tourism property segment.
— Vietnam Insider

 

Feature photo Youthucancook

This week’s Vietnam morning news photo features World Telecommunication and Information Society Day , May 17. 

 

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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