Vietnam Morning News For November 1, 2019

Trade ministry launches online public services for export-import
The Ministry of Industry and Trade (MOIT) will begin accepting electronic documents for a number of administrative procedures in the export-import field on its portal starting from November 1.
— NDO

Vietnam, US probe $4B aluminium origin fraud
Ba Ria-VUNG Tau province’s Customs Department seized a suspicious aluminium shipment worth $4 million that was heading to the US and other countries, a General Department of Vietnam Customs director-general Nguyen Van Can said.
— The Phnom Penh Post

Ho Chi Minh City’s financial hub ambitions will hinge on these reform challenges
In order to make Ho Chi Minh City, Vietnam`s largest economic metropolis, a financial hub in the country and region, reforms will be needed.
— The Hanoitimes

Vietnamese durian promoted in Australia
A royal antique car decorated with durian fruit and a banner that read “Vietnamese Durian” travelled around the centre of Sydney on October 29 as part of a campaign to promote the fruit in Australia.
— Viet Nam News

Vietnam: Agriculture exporters must change approach for better access to Chinese market
Vietnamese business leaders and Government officials have stated that measures must be taken by the nation’s companies to adapt to changes in China’s import regulations for agricultural products.
— Fresh Plaza

Vietnam’s VietJet orders 20 Airbus A321XLR aircraft
Industry sources said VietJet would be among the first to put the XLR into service.
— Aljazeera

Vietnam Records High Female Employment But Challenges Remain
Vietnam has consistently outperformed ASEAN countries, as well as Western ones, with its female labor participation rate, as reported by the Asian Development Bank (ADB) and the Organization for Economic Co-operation and Development (OECD).
— Vietnam Briefing

Vietnamese consumer financier FCCOM sells 50% stake to foreign investor
Hyundai Card’s officers will be responsible for the finance while MSB staff will take care of sale and operation in the post-merger business.
— Viet Nam News

Focus on Systems, Not Only Victims, Vietnam Labor Group Says
The International Labor Organization in Vietnam has called for improved conditions for migrants — not just those who were among the 39 dead in a British truck container this month, but also migrants crossing the Mediterranean and in the Americas.
— VOA

Việt Nam ready to catch up with Industry 4.0, says expert
Việt Nam is making efforts to adapt to new technologies in the fourth industrial revolution (Industry 4.0) across all sectors.
— Viet Nam News

Vietnam among world’s top 10 in international arrivals growth
International visitors to Vietnam increased from 8 million in 2015 to 15.5 million in 2018 with a growth rate of 25% per year, ranking among 10 countries posting the highest growth in international tourist arrivals.
— NDO

Vietnamese Labor Broker Sentenced For Trafficking Workers to Taiwan
A court in north-central Vietnam’s Ha Tinh province on Thursday sentenced a labor broker convicted of sending workers illegally overseas to a five-year term in prison, state media reported on Thursday.
— Radio Free Asia

VinSmart to launch 5G smartphones next year
Smartphone maker VinSmart says it will launch its first 5G smartphone next July, and use its own 5G stations and equipment.
— VnExpress

Authorities uncover nearly 900 cases of sugar smuggling within two years
Since last year to the end of the first nine months of this year, authorities have inspected and handled 876 violations nationwide, fined more than VND1 billion for administrative violations and seized more than 3,000 tons of sugar worth more than VND12 billion.
— Sggp News

Singapore firm to invest $60 mln in Vietnam appliance maker
Investment firm Platinum Victory will spend $60 million increasing its stake in Vietnam’s industrial appliance maker REE by 10.11 percent.
— VnExpress

Vietnam to seriously realise commitments in deals with EU: NA leader
National Assembly (NA) Chairwoman Nguyen Thi Kim Ngan received a delegation of the European Parliament’s Committee on International Trade (INTA) led by its Chairman Bernd Lange in Hanoi on October 30.
— NDO

Vietnam is under massive cyber attacks from overseas
Vietnam is being under aggressive cyber attacks by a group of foreign hackers, the Department of Information Security under the Ministry of Information and Communications (MIC) said on October 30.
— The Hanoitimes

Over 400,000 IP addresses in Vietnam are contaminated with malware
The Authority of Information Security said over 400,000 IP addresses in Vietnam are contaminated with malware from an advanced persistent threat (APT).
— Vietnam Insider

Vietnam set to become a solar power hotspot
Given its natural potential, robust government support and aspirations for the sector, Vietnam may become a solar power investment hotspot soon.
— VnExpress

Digital payments to bring Đà Nẵng $72 million
Increased use of digital payments has the potential to add US$72 million annually to the central city of Đà Nẵng’s economy, according to the latest study from Visa, “Cashless Cities: Realising the Benefits of Digital Payments.
— Viet Nam News

Private sector the main driving force for economic growth
The private sector was the main driver of growth for Việt Nam in the first nine months this year, a conference held by the Central Institute for Economic Management (CIEM) heard on Wednesday in Hà Nội.
— Viet Nam News

Hanoi listed among world’s 50 most beautiful cities
Hanoi is described as an amazing city in Vietnam since the millennial metropolis has not only attracted visitors for its dynamic beauty of an economic hub but also the diverse culinary art.
— The Hanoitimes

Southeast Asia emerges as leader in conversational commerce; Thailand, Vietnam most advanced in adoption
Southeast Asia has emerged as a leader in conversational commerce with high awareness and adoption of chat to buy and sell, says a new study.
— e27

Two Chinese arrested for stealing VND1.5 billion ($64,900) from four company safes
Da Nang police opened a criminal probe Tuesday into two Chinese citizens for stealing VND1.5 billion ($64,900) from four company safes.
— Vietnam Insider

VN, New Zealand enhance co-operation in timber trade, weather intelligence
Tô Ngọc Ngời, General Director of VinaFor Saigon said his company has imported New Zealand Radiata pine since 2001. For over 19 years, this wood species provides a sustainable and reliable source of timber material for Vietnamese furniture manufacturers.
— Viet Nam News

Vietnam closes airports, bans sailing as storm Matmo near
With Storm Matmo set to make landfall in central coastal provinces Wednesday night, Vietnamese authorities are preparing to mitigate its impact.
— VnExpress

Company fined for illegal sand mining
The Đắk Nông Province People’s Committee in Tây Nguyên (Central Highlands) has fined a company VNĐ130 million (US$5,600) for illegal sand mining, vov.vn online newspaper reported on Wednesday.
— Viet Nam Net

Vietnamese startup Lozi secures 8-digit funding from Smilegate Investment
Vietnam’s fast-growing tech startup, Lozi, which operates a consumer-to-consumer ecommerce portal and its own fleet for on-demand delivery service LoShip, said it has secured an eight-digit funding (in US dollars) led by South Korea’s Smilegate Investment, supporting its expansion across the country to become a one-stop solution for Vietnamese consumers’ one-hour delivery needs.
— Tech In Asia

Interest income delivers double digit profit growth for banks
Vietnamese banks have posted double digit profit growth in Jan-Sept 2019, with net interest income accounting for the lion’s share.
— VnExpress

SeABank meets Basel II standards
The State Bank of Việt Nam (SBV) has recognised the Southeast Asia Joint Stock Commercial Bank (SeABank) as having met the minimum capital adequacy ratio according to Basel II international standards.
— Viet Nam News

AFD supports 49-MWp solar project of Vietnam’s EVN
The French development agency AFD will provide EUR 24.2 million (USD 27m) in debt to power company Electricity of Vietnam (EVN) for the construction of a 49-MWp solar park in the country’s Gia Lai Province.
— Renewablesnow

Market makes gains, VN-Index hits 1,000 points
The benchmark VN-Index on the Ho Chí Minh Stock Exchange increased 0.50 per cent to end Wednesday at 1,000.89 points.
— Viet Nam News

Taipei Court Dismisses Lawsuit Filed by 8,000 Vietnam Marine Disaster Victims
On October 14, 2019, the Taipei District Court dismissed a lawsuit filed by nearly 8,000 Vietnamese fishermen against Taiwan-based Formosa Plastics Group (FPG) over a 2016 marine disaster in Vietnam.
— The News Lens

First collaboration of Singapore fintech and innovation week to kick off in November
The Singapore FinTech Festival (SFF) and Singapore Week of Innovation and Technology (SWITCH) will work together this year to organise a showcase of innovative technologies to encourage business transformation.
— Viet Nam News

Brazil terminates anti-dumping duty on Vietnam’s cold-rolled stainless steel
Brazil’s Ministry of Economy has announced thetermination of its anti-dumping duties imposed on cold-rolled stainless steel imported from Vietnam, according to the Trade Remedies Authority of Vietnam.
— NDO

VN, Russia hold high-level government-business dialogue
Government officials and businesses of Viet Nam and Russia attended a high-level dialogue forum held in Hà Nội on October 29 by the Vietnam Chamber of Commerce and Industry (VCCI) and the office of the Russian Presidential Commissioner for Entrepreneurs’ Rights.
— Viet Nam News

Cambodia an important development partner of Vietnam: diplomat
The Vietnamese Ambassador to Cambodia, Vu Quang Minh, has reaffirmed that Vietnam considers its neighbour an important development partner.
— NDO

Vietnam Airlines launches direct route to China’s Hainan province
National flag carrier Vietnam Airlines officially opened a new direct route connecting HCM City and Haikou city in China’s southern province of Hainan.
— Viet Nam News

Abundant chances remain in Chinese market for Vietnamese exporters
There is room for Vietnamese exporters to further exploit the Chinese market, said Tran Van Cong, Vice Director of the Agro Processing and Market Development Authority (Agrotrade) under the Ministry of Agriculture and Rural Development, at a conference in Can Tho city on October 30.
— VietnamPlus

Seminar discusses ways to combat sugar smuggling
Reducing smuggling of sugar into Việt Nam requires strengthening of preventive measures and co-ordination among relevant agencies, further lowering of sugar production costs and requiring sugar to have clear origin details among other things, a seminar heard in HCM City on Wednesday.
— Viet Nam News

Exhibition of Vietnamese brands held in Myanmar
An exhibition of Vietnamese brands in Myanmar was held in Yangon city from October 29-30.
— NDO

First Vân Đan-Đà Nẵng route starts on Friday
The first ever route between northern Vân Dan District and central Đà Nẵng City will officially open on November 1, with a frequency of three round trips per week.
— Viet Nam News

Feature photo CITEK Technology

This week’s Vietnam morning news feature photo focus on World Cities Day, October 31.

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).

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