Vietnam Morning News For November 13, 2019

Vietnam’s coal, crude oil imports surge on rising energy demand
Vietnam’s coal and crude oil imports surged in the first ten months of this year, government data released on Tuesday showed, highlighting the Southeast Asian country’s increasing reliance on imported energy to support its fast-growing economy.
— Reuters

Vietnam’s legislative body ratifies 6.8% GDP growth for 2020
Vietnam’s economic growth next year will be driven by strong exports, increasing FDI and robust domestic demand.
— The Asset

Vietnam trade surplus in Oct widens to $1.86bn
Vietnam recorded a trade surplus of $1.86 billion in October, widening from a surplus of $1.6 billion in September, customs data released on Tuesday showed.
— Bangkok Post

Draft PPP law proposes minimum investment, risk-sharing mechanism
Legal plans to help attract more public private partnerships (PPP) in Viet Nam have been submitted to the National Assembly for approval.
— Viet Nam News

Vietnam troubled by child and incestuous marriages among ethnic minorities
Child and incestuous marriages among ethnic minority groups have been a headache for local administrators in Nghệ An and Quảng Bình provinces in Vietnam.
— New Straits times

Cryptocurrency rules need to be clarified
The State Bank of Vietnam (SBV) is working on a new decree to regulate cryptocurrency.
— Viet Nam News

BIDV completed the sale of a 15% stake to South Korea’s KEB Hana Bank for 20.3 trillion dong ($875 million)
Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has completed the sale of a 15% stake to South Korea’s KEB Hana Bank for 20.3 trillion dong ($875.00 million), it said on Monday.
— Vietnam Insider

Experts warn of trade fraud risks in wood industry
Foreign direct investment (FDI) in the wood processing industry is on an upswing, but it should be tightly controlled to avoid trade fraud.
— Viet Nam News

Ho Chi Minh City has difficulties in garbage collection
The problem was discussed during a talk show held by the HCM City People’s Council about the collecting and transporting rubbish from local households held on November 10.
— Vietnam Insider

Vietnam’s war on China’s illegal South China Sea map has turned to navigation apps
Vietnam has fought Chinese territorial claims over the South China Sea on t-shirts and in a movie. Its latest battleground is phones and cars.
— Qz

Vietnamese families struggle to repatriate Essex lorry victims
The families of the 39 Vietnamese people found dead in a refrigerated lorry in Essex last month are facing financial difficulties over repatriating the bodies of their relatives.
— The Guardian

The puzzles of political reform in Vietnam
Vietnam’s growing economy is one of a very few recent global success stories. With a population of 95 million people and with GDP approaching US$8000 per capita, Vietnam is home to millions of private businesses and has become an attractive destination for foreign direct investment.
— East Asia Forum

Vietnam leading ASEAN’s solar PV market
With the International Monetary Fund (IMF) expecting Vietnam’s economy to grow by 6.5 percent in 2019 and 2020, it is only natural that one of the region’s fastest growing countries is turning towards renewable energy to secure its energy needs.
— The Asean post

Vietnam promotes innovative startup ecosystem in Singapore
The “Techfest Vietnam in Singapore” took place in Singapore on November 11 to introduce the Techfest Vietnam festival in 2019 and Vietnam’s innovative startup ecosystem to international partners.
— NDO

Hong Leong Bank Vietnam launches new digital banking platform, which allows you to have more ‘me-time’
You can now connect your banking needs with every aspect of your lifestyle with the next generation customer-centric digital banking platform via mobile app by Hong Leong Bank Vietnam.
— Vietnam Insider

US-China trade war sends ripples to Vietnam
The trade war between the US and China is having an impact on economic growth around the world but it has provided a boost to some countries in Southeast Asia, such as Vietnam.
— NHK World

Vietnam land-based salmon farm just one of a broad portfolio for Norwegian aquaculture investment firm
The global advisory firm’s CEO said they would not be restricting themselves in terms of region.
— Intrafish

Vietnamese products enter 200 markets around the world
Vietnamese products have entered over 200 markets around the world including markets with strict import regulations and standards such as the EU, Japan, South Korea and the US, according to a recent report released by the Ministry of Industry and Trade.
— Viet Nam News

IHG Partners With Ho Tram Project for Two Hotels on Vietnam’s Ho Tram Strip
IHG® (InterContinental Hotels Group), one of the world’s leading hotel companies, signed agreements with Ho Tram Project Company Limited (HTP) to rebrand The Grand Ho Tram at the Ho Tram Strip integrated resort to InterContinental Grand Ho Tram within a year after refurbishments.
— Hotel-online

What Would a Vietnam South China Sea Legal Challenge Mean?
A closer look at the potential implications of a significant move if it is taken.
— The Diplomat

Việt Nam’s export of tea to Taiwan up
About 14,200 tonnes of Vietnamese tea, worth over US$22.5 million, was shipped to Taiwan between January and September, marking a year-on-year increase of 6.1 per cent in volume and 8.3 per cent in value.
— Viet Nam News

Swine Flu Complicates Australia-Vietnam Relations
After news last month that Australia withdrew a visa for a Vietnamese woman who brought pork to the country, another Vietnamese citizen faced the same punishment for a similar offense this month, prompting the Australian government to release an official statement on the matter.
— VOA

Work against trade fraud should be intensified
Minister of Industry and Trade Trần Tuấn Anh has asked market surveillance to promote its role and functions to fight smuggling, trade fraud and fake commodities.
— Viet Nam News

Vietnam veteran fights for disability benefits to Thailand-based vets
More than 50 years after he served in the Vietnam War, a veteran from Elmsford says he is still fighting for disability benefits.
— Westchester

National Assembly rejects bank capital hike proposal
The proposal was presented by the NA Economic Committee Chairman Vũ Hang Thanh on Monday as a part of the socio-economic development plan for 2020.
— Viet Nam News

BCG says close to achieving full-year targets
Bamboo Capital Joint Stock Company has said it will surely meet this year’s revenue and after-tax profit targets of VNĐ2.96 trillion (US$127.5 million) and VNĐ312 billion ($13.4 million), which represent an increase of 166 per cent and 265 per cent from last year.
— Viet Nam News

Hanoi promotes multifaceted cooperation with Belgium’s Antwerp province
Hanoi expects to learn advanced technologies from Belgium in the fields of infrastructure development, culture, education, healthcare, high-tech agriculture, among others.
— The Hanoitimes

Open mindset needed for public-private partnership law: PM
All fields, except for security and national defense, must be open for investment, said Prime Minister Nguyen Xuan Phuc.
— The Hanoitimes

Rare deer-like species rediscovered after nearly 30 years in Việt Nam
A deer-like species thought lost to science for almost three decades has been discovered living in Việt Nam, according to a new study in Nature, Ecology and Evolution.
— Viet Nam Net

Gaz launches assembly in Vietnam as US sanctions are postponed
Russian carmaker Gaz is about to begin assembly of its Gazelle Citiline minibus in Vietnam, according to statements made last week by Russian deputy Prime Minister Maksim Akimov.
— Automotive logistics

Year-end promotions heat up e-commerce market
The year-end online shopping frenzy has kicked off with giant local and foreign players like Lazada, Tiki, Sendo, and Shopee rolling out promotions since the middle of last month.
— Viet Nam News

Local fashion brand alleged of selling Chinese products as made-in Vietnam
Customers of Seven.AM accused some products had Chinese labels cut off and replaced with the Vietnamese brand’s label.
— The Hanoitimes

Russia’s GAZ plans to produce trucks in Vietnam to tap FTA
From Vietnam, which has signed many FTAs that are beneficial for companies like GAZ in the country, GAZ can export vehicles to other Southeast Asian countries.
— The Hanoitimes

Vietnam attends FEALAC foreign ministers’ meeting
Vietnamese Deputy Minister Nguyen Minh Vu attended the 9th Foreign Ministers’ Meeting of the Forum for East Asia-Latin America Cooperation (FEALAC) in Santo Domingo, the Dominican Republic, on November 9.
— NDO

Swiss-Belhotel unveils Vietnam expansion plans
Swiss-Belhotel International has revealed plans to expand its portfolio in Vietnam with a series of new hotels, resorts and residences.
— Breaking Travel News

Dong Nai to assist people affected by airport project
Authorities in the southern province of Dong Nai plan to establish hi-tech agricultural co-operatives to create jobs for those over the age of 40 who are affected by the construction of Long Thanh International Airport.
— VietnamPlus

Việt Nam needs to promote access to supply chain financing : experts
Promoting supply chain financing will help improve the competitiveness of micro, small and medium enterprises (MSEME) in Việt Nam, enabling them to join global supply chain, experts said in the 4th annual conference on supply chain financing in Asia-Pacific in HCM City on Monday.
— Viet Nam News

Hana Bank completes $875m acquisition of 15% stake in Vietnam’s BIDV
Joint Stock Commercial Bank for Investment and Development of Vietnam (BIDV) has completed the sale of a 15 per cent strategic stake to South Korea’s KEB Hana Bank for 20.3 trillion dong ($875 million), it announced on Monday.
— DealStreetAsia

Government agencies slow with online bidding process
Vietnam targets having 50 percent of its bidding packages auctioned online this year, but government bodies have only achieved 30.8 percent so far.
— VnExpress

VinUni calls for admission for the first academic year 2020-2021
VinUni announced three majors of Business Administration, Health Sciences, Engineering and Computer Science for its first ever academic year of 2020-21.
— Viet Nam News

Consumers show preference for imported cars
The sales of imported cars in Jan-Oct surged 2.2 times, while that of locally-assembled ones fell 12 percent.
— VnExpress

Digital literacy helps to reduce disparities in universal healthcare
Health literacy can contribute to reducing disparities among different groups of people in accessing universal healthcare services, Professor Dianne Levin-Zamir from Israel’s University of Haifa said on Monday (November 11) at an international conference held in HCM City.
— Viet Nam News

RAL to select adjusting services for fire loss
Rạng Đông Light Source and Vacuum Flask JSC (HoSE: RAL) asked its shareholders to select PVI Insurance Corporation and Vietnam International Adjuster (VIA) to value the damage from the fire in August at the request of Hà Nội’s Police.
— Viet Nam News

KEB Hana Bank becomes BIDV’s strategic shareholder
South Korea’s KEB Hana Bank has officially become a foreign strategic shareholder in the Bank for Investment and Development of Việt Nam (BIDV) following a cooperation agreement with the two sides inked on Monday.
— Viet Nam News

Feature photo John Le Fevre

This week’s Vietnam morning news feature photo focus on Vietnam’s receipt of the Asean Chair’s gavel for the year 2020.

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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