Vietnam morning news for May 8

Vietnam morning news for May 8

Vietnam morning newsVietnam’s Transfer Pricing Regulations – Compliance Strategies
Vietnam’s transfer pricing regulations under Decree No. 20/2017/ND-CP (“Decree 20”) became effective in May 2017 and outline all relevant aspects of the transfer pricing compliance process. Foreign investors should consider the following when creating a compliance strategy for transfer pricing in the country.
— Vietnam Briefing

Vietnam: Fruit & vegetable export increases in first 4 months of 2019
Vietnam earned nearly US$1.4 billion from exporting fruits and vegetables in the first four months of this year, up 5.5 percent on-year. Of course, China has been the largest importer, the Vietnamese Ministry of Agriculture and Rural Development said on Monday.
— Fresh Plaza

Vietnam Airlines to pay $63.9 million cash dividend
National flag carrier Vietnam Airlines, listed under code HVN, plans to pay cash dividends for 2018 at the rate of 10 per cent of charter capital, estimated at VNĐ1.49 trillion (US$63.9 million).
— Viet Nam News

Too Many Jobs, Too Few Qualified Workers are Economic Obstacles in Vietnam
Vietnam has long been a tough place to hire and keep employees, but it’s even tougher now, as business trends force companies to scramble to recruit enough staff, according to a new report.
— VOA

Vietnam’s tra fish export to ASEAN rises 18 pct in Q1
Vietnam gained nearly 55.2 million U.S. dollars from exporting tra fish or shark catfish, a common kind of catfish, to other members of the Association of Southeast Asian Nations (ASEAN) in the first quarter of this year, witnessing a year-on-year increase of 18 percent.
— Xinhua

Vietnam Airlines listed on HoSE
The Ho” Chí Minh Stock Exchange (HoSE) today officially opened the first trading session for more than 1.4 billion shares of Vietnam Airlines Corporation, listed with code HVN.
— Viet Nam News

Hanoi to benefit from more financial-budgetary autonomy
Greater autonomy would allow Hanoi to eliminate institutional bottlenecks on its way toward sustainable development.
— The Hanoitimes

Việt Nam’s credit growth expands in first months of 2019
The credit growth of Vietnamese banks as of April 17 this year had expanded by 3.23 per cent against the end of 2018, the State Bank of Việt Nam (SBV) reported.
— Viet Nam News

Saigon’s streets seriously flooded due to a heavy rain
Saigon (Ho Chi Minh city), the largest economic hub in southern Vietnam has suffered from widespread floods as part of heavy rain in the afternoon Of May 07.
— Vietnam Insider

Ho Chi Minh City wants luxury tax on mobile phones
The HCM City government wants to slap special consumption tax on mobile phones and certain goods it considers “luxury.”
— VnExpress

More and more foreign tourists heading to Vietnam
Vietnam clocked up close to 6 million visits in the first four months of the year encouraging officials to believe the country could welcome around 18 million visits by the end of 2019.
— Vietnam Insider

More rivals, more pressure in delivery market
In early February 2019, many online sellers stopped taking orders via social networks because of a goods deadlock at border gates. At the same time, the goods-carrying trucks of J&T were seen rolling on the streets in HCM City.
— Vietnam Insider

Trade war pushing companies from China to Vietnam, but experts warn they may have missed the boat
When Ernie Koh first opened a production plant in Vietnam in 1993 to manufacture furniture, the Southeast Asian nation was not on the radar of many manufacturers, but a quarter of a century on, and companies are moving there in their droves.
— South China Morning Post

Foreign airlines target Vietnam’s niche market ?
Some airlines in Southeast Asia are looking to fly to secondary airports in Vietnam, which are considered a potential niche market in the country.
— Vietnam Insider

Five held in Vietnam over missing Taiwan tourists
Authorities in Vietnam have arrested five more people who they claim were connected to the disappearance of 152 Vietnamese tourists in Taiwan in late 2018.
— Asia Times

Allow us to set pilots’ wages: Vietnam Airlines
National flag carrier wants to set pilot wages on its own to prevent an exodus to other better-paying airlines.
— VnExpress

Japanese encephalitis enters its peak season in Vietnam
In Vietnam, year-round Japanese encephalitis is usually prevalent in summer season and peaks between June and July. The Hanoi-based National Children Hospital’s intensive care unit is treating many Japanese encephalitis children.
— Sggp News

Vietnam’s key agricultural product export values drop in 4 months
Vietnam’s export turnovers of key agricultural products including coffee, rice, cashew nuts and pepper plunged in the first four months of this year, the Ministry of Agriculture and Rural Development said on Tuesday.
— China.org

Ministry’s proposed change to working schedule stirs controversy
For Hanoi, the regulation of working hours must be considered and evaluated in many aspects because the capital houses many state administrative bodies, with a big population of state servants.
— The Hanoitimes

Vietnam diocese launches pastoral plan for migrant workers
An archdiocese in central Vietnam has rolled out pastoral care activities to serve domestic migrant workers who have been forced to neglect their faith due to the demands of trying to earn a living.
— UCA News

Việt Nam’s credit growth expands in first months of 2019
The credit growth of Vietnamese banks as of April 17 this year had expanded by 3.23 per cent against the end of 2018, the State Bank of Việt Nam (SBV) reported.
— Viet Nam News

Hoa Phat’s construction steel sales surge 30 percent in four months
The sales of Hoa Phat construction steel grew nearly 30 percent year on year to 933,626 tonnes in the first for months of the year.
— VietnamPlus

Electricity tariff must be revised
Expert Ngô Trí Long, former head of the Price and Market Research Institute under the Ministry of Finance, talks to Vietnam News Agency on the key elements in setting electricity tariffs
— Viet Nam News

Vietnam to revise contribution rate of major cities to state budget beyond 2020
Following the Prime Minister’s instruction, the current contribution rate has been decreased to 14 – 16%, allowing provinces and cities to increase expenditure for investment and carry out wage reform.
— The Hanoitimes

Government leader requests steps to develop automobile manufacturing
Prime Minister Nguy Xuân Phúc requested that ministries, sectors and localities adjust their policies to speed the development of the automobile and support industries.
— Viet Nam News

Filipino AC Energy to build multi-million-dollar wind farm in Vietnam
The first phase will have 40 megawatts in capacity with an estimated cost of US$92 million, which can be expanded to 170 megawatts (MW).
— The Hanoitimes

Traditional fish sauces need to be promoted: experts
Vietnamese traditional fish sauce makers need to enhance marketing activities to promote their consumption both at home and abroad, according to experts.
— Viet Nam News

Vietnam boosts Russian coal imports
Russia increased coal supplies to Vietnam to 852,000t in January-February from 237,000t a year earlier, according to national government data, amid growing demand from power utilities that cannot be covered by limited domestic supply.
— Argusmedia

VN looks to export more rice to China
Việt Nam was looking for measures to expand rice exports to China after witnessing a fall in export volume to the market since 2018.
— Viet Nam News

Australian Navy ships conduct goodwill visit to Vietnam
This is the first time Australian Defence Force’s Indo-Pacific Endeavour, which commenced in 2017, has included Vietnam.
— The Hanoitimes

VN’s private sector: Growing but not strong
The Vietnam Private Sector Economic Forum 2019 – an important channel for Government agencies and ministries to identify bottlenecks restricting the development of the private sector and listen to recommendations from the business community – finished last week.
— Viet Nam News

MXP proposes six breakthrough solutions for Vietnam’s private sector development
MXP (Manufacturing Sportswear JSC.) has proposed six strategic solutions to Vietnam’s Government to strengthen Vietnam’s private enterprises, particularly in the apparel sector, in accordance with the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which took effect in the beginning of this year. These proposals were made at the Vietnam Private Sector Forum 2019.
— Yahoo News

PM chairs conference on southern economic growth
Government officials, business groups and executives and experts gathered at a conference in Đ�”ng Nai Province’s Biên Hòa City on Monday to discuss measures to enable the southern key economic region to remain spearhead of the country’s economic development.
— Viet Nam News

Vietnamese banks target more overseas markets
Vietnamese banks are stepping up plans to expand their markets globally instead of just focusing on the Indochina region.
— Viet Nam News

1 million species at risk of extinction: UN report
Around 1 million animal and plant species are threatened with extinction and the rate of species’ disappearance is accelerating, likely having a grave impact on people around the world, a report by a UN body of scientists has found.
— Viet Nam Net

Bảo Việt revenue up 19% in Q1
Bảo Việt Group posted nearly VNĐ8.1 trillion (US$348 million) in insurance revenue in the first quarter of 2019, a year-on-year increase of 19 per cent.
— Viet Nam News

Vietnam Facility Management Industry Revenue is Expected to Cross USD 120 Million by 2023: Ken Research
The industry revenue for soft services is expected to increase at a CAGR of 5.2% during the period 2018-2023E, while the industry revenue for hard services will increase at a CAGR of 8.8% during the same period.
— Yahoo News

Government leader requests steps to develop automobile manufacturing
Prime Minister Nguy Xuân Phúc requested that ministries, sectors and localities adjust their policies to speed the development of the automobile and support industries.
— Viet Nam News

Central province withdraws licences for delayed projects
Authorities in the central province of Quảng Bình have withdrawn the licences of 16 delayed projects that have high percentages of land occupation.
— Viet Nam News

1 million species at risk of extinction: UN report
Around 1 million animal and plant species are threatened with extinction and the rate of species’ disappearance is accelerating, likely having a grave impact on people around the world, a report by a UN body of scientists has found.
— Viet Nam Net

VN stocks head down with global markets on worries about trade war
Vietnamese shares were unable to resist a massive sell-off in the Asian markets over concerns that US president Donald Trump’s latest comments would spark another round of trade tensions between America and China.
— Viet Nam News

 

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.

 

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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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