Vietnam Morning News For May 28

Viettel establishes high-tech ‘Make in Vietnam’ firm
Vietnam’s top telecom firm Viettel has set up a high-tech subsidiary to carry out the government’s mandate to make products locally.
— VnExpress

Việt Nam seafood exports to CPTPP member countries up 15 per cent
Việt Nam’s seafood exports to the other 10 members of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) have increased sharply since the agreement took effect earlier this year, according to the Ministry of Agriculture and Rural Development.
— Viet Nam News

Vietnam attracts record FDI
Vietnam has drawn FDI worth $16.74 billion in the first five months of the year, the highest in the period since 2015.
— VnExpress

Vietnam has become a hot spot for energy investors
Coal reigns in Vietnam’s booming energy sector but interest growing in renewables. This South East Asia country has become a hot spot for energy investors eyeing a spend of up to $150 billion over the coming decade to meet surging power demand, with coal set to dominate despite signs of a government effort to go green.
— Vietnam Insider

Vietnam considering mobile money trials this year
Vietnam’s Ministry of Information and Communication has held an international workshop on the ability of mobile money to promote financial inclusion, as part of preparations for potential mobile money trails.
— Telecomasia

Committed FDI inflow to Vietnam hits four-year high
The inflow of foreign direct investment (FDI) pledged to Vietnam in the first five months of this year hit a four-year high of 16.74 billion USD, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
— VietnamPlus

Scarcity causes new record prices for Vietnamese dragon fruit
On May 24, the price of dragon fruits continued to break a record high hovering at VND30,000-31,000 per kilogram (€1.15-1.18) in Binh Thuan Province, considered to be the Vietnamese capital of dragon fruits.
— Fresh Plaza

VN markets mixed on continued trade worries
Domestic markets were mixed on Monday, with the benchmark southern index rising but the northern one falling due to the continued uncertainty of regional and world markets.
— Viet Nam News

Rise of Vietnam’s Second-Tier Cities
In 2017, long after the Vietnam War, U.S. President Donald Trump finally made his debut in Vietnam, not in the capital city of Hanoi in the north, nor in the business hub of Ho Chi Minh City in the south, but at about the midway point, in Da Nang.
— VOA

RoK company invests $1.2 million in Vietnamese startup Luxstay
GS Home Shopping, a leading shopping channel operator in the Republic of Korea, announced on Sunday that it has invested US$1.2 million in Luxstay, a Vietnamese home-sharing platform.
— Viet Nam News

Ministry starts project to restore forests in Central Highlands
The Ministry of Agriculture and Rural Development (MARD) has kicked off a project to achieve forest coverage of 49.2 per cent in the Central Highlands, or a total of 2.72 million hectares, by 2030.
— Viet Nam Net

You Can Still Buy a House With Gold Bars in Vietnam
Vietnam may be one of the world’s fastest-growing economies, yet it’s still in the dark ages when it comes to joining the global trend toward cashless transactions.
— Bloomberg

Funding capacity, asset quality of banks improves
The financial capacity of Việt Nam’s credit institutions has solidified in recent years, with their charter capital reaching VNĐ578.9 trillion (US$24.85 billion) by the end of the first quarter 2019.
— Viet Nam News

Central bank, Quang Ninh admin reform leaders in Vietnam
The central bank and the northern Quang Ninh Province topped the respective categories of state agencies and localities in the 2018 admin reform index.
— VnExpress

China exempts tariffs on 33 Vietnamese seafood exports
China has exempted tariffs on 33 kinds of Vietnamese seafood exports, the Vietnam Association of Seafood Exporters and Producers (VASEP) has said.
— Vietnam Insider

Vietnamese people develop greater trust in local goods
Since its launch a decade ago, the “Vietnamese people prioritise Vietnamese goods” campaign has gained significant achievements. Local producers have improved their product quality and in return, Vietnamese people now have more trust in domestic goods.
— VietnamPlus

Rising labor costs erode Vietnam’s appeal to foreign investors
As its labor cost is equal and even higher than other countries, Vietnam will have to replace the cheap labor advantage for the skilled workforce advantage in the coming time to raise the competitiveness.
— The Hanoitimes

Wood exports soar to nearly $3.12b
Export turnover of wood and wooden products reached nearly US$3.12 billion in the first four months of the year, a year-on-year increase of 18.3 per cent, according to the General Department of Customs.
— Viet Nam News

Experts caution against investing in shophouses
Investing in the booming shophouse segment in HCM City could end in losses, if market observers are to be believed.
— Viet Nam News

Logistics enterprises, schools work to close skills gap
With e-commerce and automation changing the landscape of the logistics sector dramatically, there will be a focus on re-skilling the existing workforce in technology.
— Viet Nam News

Samsung SDS signs partnership with Vietnamese IT service company
Samsung SDS Co. said Monday it has signed a strategic partnership agreement with a Vietnamese IT services company to collaborate in the smart factory and cyber security sectors.
— YNA

FPT continues to report solid performance
FPT Corporation has reported a 22.6 per cent increase in profit before tax and 19.4 per cent increase in revenues in the first four months of the year.
— Viet Nam News

Hanoi proposes cooperation with major Norwegian companies in urban development
Norwegian technologies are suitable to solve Hanoi’s current issues arising from the urbanization process.
— The Hanoitimes

VietinBank to issue bonds worth $427.5 million
The State Bank of Việt Nam has approved the plan submitted by the Vietnam Joint Stock Commercial Bank for Industry and Trade (VietinBank) to issue bonds worth VNĐ 10 trillion (US$427.5 million).
— Viet Nam News

KVision launches hackathon to innovate with Vietnamese startups
KasikornBank’s Kasikorn Vision has joined hands with VIISA, a leading accelerator in Vietnam, and UP Co-Working Space to hold a three-day hackathon.
— VnExpress

More purchases of small stocks this week: analysts
Investors have sought opportunities in defensive stocks amid rising fears about the US-China trade war, and brokerage firms expect the trend to continue this week.
— Viet Nam News

SHB Finance issues certificates of deposit worth $13 million
SHB Finance has issued its fourth tranche certificates of deposits worth a total of VND300 billion ($12.88 million).
— VnExpress

Vietnam escapes US’s likely currency manipulator blacklist
Current account surplus was a factor that prompted Treasury to examine for currency manipulation.
— The Hanoitimes

Ninh Thuận builds more solar, wind projects
The central province of Ninh Thuận aims to become the renewable-energy centre of the country, with assistance from the central government’s preferential policies.
— Viet Nam News

Rare animals in urgent need of protection
Professor Dr Đặng Huy Huỳnh, Chairman of the Việt Nam Zoological Society, talks to Tuổi Trẻ newspaper about failures to protect rare animals in Việt Nam
— Viet Nam Net

History shows how to replace Google Play Services: the Nokia X story
The die is cast and the Mobile ecosystem has just reached a turning point by Paulo Trezentos & Tiago Alves, Aptoide In a time when Google Play Services seem to be a political weapon in trade wars after the US company announced the suspension of its business with Huawei, is good to remember a …
— e27

State-owned banks to retain dividends for capital hike
Authorities have basically agreed on a State Bank of Việt Nam (SBV) proposal to allow large State-owned commercial banks to retain their dividends or pay them in shares to increase capital.
— Viet Nam News

Vietnam Cement Comprehensive Market Research Report
Over the past years, the global cement production has sharply increased from 1.38 billion tons in 2002 to 4.1 billion tons in 2017 (equivalent to 73.4% compared to the installed capacity).
— Vietnam Insider

SBV’s many tools to regulate currency exchange rates
Experts say Việt Nam has many weapons in its armoury to stabilise exchange rates.
— Viet Nam News

Feature photo Human Rights Watch

This week’s morning news photo features International Day of UN Peacekeepers, May 29.

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