Vietnam to become manufacturer of established global brands
Vietnam’s garment and textile sector is set to expand its market share globally, taking advantage of free trade agreements (FTAs) to become “a manufacturer of the world’s established brands”, a trade and investment official has said.
FDI to Vietnam increases 28.6pc in first four months of 2019
Vietnam attracted foreign direct investment (FDI) of over USD7.4 billion in the first four months of this year, witnessing a year-on-year rise of 28.6 per cent, according to the country’s Foreign Investment Agency on Friday.
— Borneo Bulletin
Vietnam Develops Own Smartphones After Decades of Contract Work
Vietnam is used to being an order taker. Companies such as Nokia and Samsung Electronics use the Southeast Asian country’s cheap labor to assemble consumer electronics for export. Those investments from abroad have slowly handed Vietnam the supplies, parts and know-how needed for local companies to make their own smartphones.
Over six tonnes of drugs seized in Vietnam in first quarter of 2019
Vietnamese police busted many drug trafficking rings in the first quarter of 2019, seizing over six tonnes of drugs – higher than the amount seized last year and tripling that in 2017, Vietnam News Agency (VNA) reported.
— Borneo Bulletin
Vietnam’s petrol import falls in 4 months
Vietnam imported nearly 2.9 million tons of various kinds of oil and petroleum products totaling over 1.7 billion U.S. dollars in the first four months of this year, seeing respective year-on-year decreases of 35.2 percent and 39 percent, its Ministry of Industry and Trade said on Saturday.
Japan and Vietnam agree to promote defense cooperation
Defense Minister Takeshi Iwaya and Vietnamese Prime Minister Nguyen Xuan Phuc met in Hanoi on Saturday and agreed to strengthen their countries’ defense cooperation.
— The Japan Times
Vietnam’s socio-economic situation witnesses positive signs: PM
Vietnam’s socio-economic situation in April 2019 witnessed many positive signs with macroeconomic stability and surging aggregate demand, Prime Minister Nguyen Xuan Phuc told a regular cabinet meeting in Hanoi on May 4.
— Sggp News
Vietnam to examine potential issues with recent power price hike
Government inspectors will study the latest power price adjustment that saw electricity bills go up by 8.36 percent from March 20.
Vietnam, in the spotlight: the gap between minimum wage and standard of living widens
In three years, the Vietnamese Government approved three wage rises: 7.3% in 2017, 6.5% in 2018 and 5.3% in 2019, according to a report prepared by the Fair Labor Association.
— The emds
January-April total retail value grows at highest rate since 2015
Goods and services trading continued its upward trend in the January-April period with the retail sale value increasing at the highest rate since 2015, according to the General Statistics Office (GSO).
New steps to speed up replacement of magnetic strip ATM cards
The National Payment Corporation of Vietnam (NAPAS) has announced a fee reduction for its local switching system services with an aim to encourage banks replacing their current magnetic strip ATM cards with chip cards ahead of schedule.
Viet Nam’s digital transformation expected to add US$162 billion to GDP
Viet Nam could enjoy an additional US$162 billion to GDP in the next 20 years if the country succeeds in its digital transformation, said Deputy Minister of Planning and Investment Vu Dai Thang.
Vietnam arrests 3 drug traffickers
Police of Vietnam’s northern Son La province have detained three local people who traded and possessed nearly 1.5 kg of heroin and over 3,000 pills of lab-made drug.
Govt to send protest note to Vietnam on its fishermen straying into Malaysia waters, says foreign minister
Malaysia will send a protest note to Vietnam on the encroachment by its fishermen into national waters, said Foreign Minister Datuk Saifuddin Abdullah.
— Malay Mail
UK reports flow of illegal migrants from Vietnam through Russia
According to British authorities, thousands of adults and children enter the UK from Vietnam every year. Criminal organizations help them move to the United Kingdom using Russian tourist visas. This is reported by RBC referring to The Sunday Times.
PM Nguyen Xuan Phuc speaks of highly-skilled workers’ role
Highly-skilled workers create a chance for the competitive development as Vietnam is intensively and extensively integrating into the world economy, Prime Minister Nguyen Xuan Phuc stressed at a dialogue in Ho Chi Minh City on May 5 with representatives of workers.
Vietnam rejects China’s fishing ban in South China Sea
The foreign ministry has condemned China for violating Vietnam’s sovereignty by imposing a unilateral fishing ban in the South China Sea.
Equitisation of State-owned enterprises remains slow: official
The equitisation of State-owned enterprises (SOEs) is still slow, failing to reach the rate of progress as directed by the Prime Minister, Deputy Minister of Finance Vu Thi Mai said at the Government’s regular press briefing in Hanoi on May 4.
Corporate bond issuance up 222 percent in Q1
More than 9.1 trillion VND (391 million USD) worth of corporate bonds were issued in the first quarter of 2019, up 222 percent year on year.
Audi Vietnam recalls 182 cars, SUVs with faulty fuel pipes
Audi will recall 182 cars and SUVs to replace faulty fuel pipes, the Vietnam Register has announced.
Deputy PM requests stepping up public capital disbursement
Deputy Prime Minister Vuong Dinh Hue has asked ministries, agencies and localities to accelerate public investment disbursement in line with the Government’s Resolution No.70/NQ-CP and the PM’s Directive No.09/CT-TTg.
— Nhan Dan Online
Jakarta, the fastest-sinking city in the world, Ho Chi Minh city ranked among top 5
Not only Jakarta – the capital and largest city of Indonesia, many parts of Vietnam’s Ho Chi Minh City are sinking by 0.2-0.4 inches per year. According to a research report by the Vietnamese Ministry of Natural Resources & Environment and the Ho Chi Minh City University of Technology, the city has sunk by around 1.3 feet (0.4 meters) already. The main reasons cited were “over-exploitation of underground water, rapid urbanization and effervescent transport activities.”
— Vietnam Insider
Construction of country’s 1st farmers support centre begins
Lavifood Joint Stock Company has broken ground for building a farmers support centre in the Mekong Delta province of Trà Vinh’s Càng Long District, the first of its kind in the country.
— Viet Nam News
Vietnam targets having 50 percent of businesses operating on digital platforms
A draft project on national digital transformation has set a target to have 50% of businesses operating on a digital basis by 2025.
— Vietnam Insider
Viet Nam’s PMI at four-month high as employment rises
Viet Nam’s Manufacturing Purchasing Managers’ Index (PMI) – a composite single-figure indicator of manufacturing performance – rose to a four-month high of 52.5 in April from 51.9 in March, signalling solid monthly improvement in the health of the sector.
New changes help boost Vinasun performance
Changes in its business model and operation helped taxi firm Vinasun avoid bankruptcy last year.
— Viet Nam News
Nguyen Phu Trong: Where is the president of Vietnam?
The leader of Vietnam has not been seen in public for nearly three weeks, fuelling speculation over his health.
Vietnam suspect in Kim Jong Nam murder trial freed from prison
A woman charged with the murder of Kim Jong Nam, the half-brother of North Korean leader Kim Jong Un, has been released from prison. She had been in custody for two years before charges against her were dropped.
Some seek healing, remembrance at arrival of Vietnam War replica wall
The sounds of thunder rumbled overhead as volunteers lifted the last panel of names and fit it into place along the 300-foot long Traveling Vietnam Memorial Wall.
— Florida Today
VinBus to launch 3,000 electric buses in Vietnam
A new electric bus company is coming to Vietnam. Set up through the Vietnamese conglomerate VinGroup, the new subsidiary VinBus will start transport services with up to 3,000 e-buses in five major cities from March 2020.
Luxury Car Manufacturing Plant Opened in Vietnam
Hanoi, May 5 (Prensa Latina) With a capacity of 20,000 unit a year, Truong Hai Auto Corporation (THACO) has opened on Sunday a car-manufacturing plant of luxury European brands in the central province of Quang Nam.
CenHomes: Useful tool for Japanese to invest in Vietnam’s real estate
CenHomes is a new realty business platform, developed by Century Land Joint Stock Company (CenLand) – one of the leading realty enterprises in Vietnam. This platform is a combination between the modern technologies, expert knowledge of the market, and the absolute desire for customers’ best experiences.
— Finance Yahoo
ADB calls on unity and multilateralism
Asian Development Bank (ADB) has called on the member countries to move together in “one wave” and support the multilateral system for the future of Asia and the Pacific region.
— Viet Nam News
HCMC should have policies to attract large private firms: Party official
Mr. Tran Quoc Vuong, Politburo member and permanent member of the Communist Party of Vietnam (CPV) Central Committee’s Secretariat, on May 4 stressed that HCMC is the giant of the country so the city’s thinking must be different from other localities, especially to polices to encourage and facilitate large private firms’ investment and development in the city.
— Sggp News
Airport near Nha Trang gets second runway
The second runway at Cam Ranh International Airport near the central resort town Nha Trang is complete and ready for use.
Feature photo BirdLife International Asia
This week’s Vietnam morning news photo features World Migratory Bird Day, May 11.
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.
She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018