Vietnam Morning News For November 26, 2019

Nations Aim for Inclusive Trade; Vietnam Uses Small-Business Loans to Get There
When politicians try to win votes by blaming foreigners for stealing jobs, economists say they ignore technology, which is what is really replacing many of these jobs.
— VOA

Vietnam to Raise Minimum Wages, Unemployment Wage Caps, for 2020
The minimum wages for Vietnam’s four minimum wage regions and the maximum taxable wages for unemployment insurance tax assessed on wages attributable to work in those regions are to increase for 2020, under a decree that the national government finalized Nov. 15.
— Bloomberg Tax

Vietnam Railways to upgrade infrastructure
Vietnam Railways (VNR) plans to upgrade rail infrastructure to satisfy passenger demand by building 300 new carriages and purchasing more locomotives by 2023 to provide better services.
— Viet Nam News

Government approved two new factories of Viettel and VinSmart in Hanoi
The government has approved the construction of two new factories in Hanoi by state telecom giant Viettel and private smartphone producer VinSmart.
— Vietnam Insider

MoT gives green light to build Sa Pa Airport
The Ministry of Transport has approved a plan to build an airport in Sa Pa in the northern mountainous province of Lào Cai.
— Viet Nam News

Briton who drove truck in which 39 Vietnamese died admits plot
A British man admitted on Monday plotting to assist unlawful immigration after 39 Vietnamese migrants were found dead in the back of a truck he was driving.
— Reuters

Banks Required to Assess Environmental, Social Goals in Vietnam
For several years, the worldwide financial crisis that began in 2008 had little effect on Vietnam’s banks. That is not because its banks were stronger than the U.S banks that created the crisis. It was mostly because of the country’s lack of international trade.
— VOA

Foreign funds inject about 10 billion dollars into Vietnam’s leading corporations
Just over the last two years, about 10 billion dollars from the region have been poured into Vietnam’s leading corporations.
— Vietnam Insider

Taiwan exports first shipment of local cabbage to Vietnam
Taiwanese cabbage will officially enter the Vietnamese market next week, when the first shipment of 180 metric tons of the vegetable arrives in the Southeast Asian country, Agriculture and Food Agency Director-General Hu Jong-i (胡忠一) announced Monday.
— FocusTaiwan

Downtown Hanoi metro will be delayed until 2027 and cost to rise by 82 percent
The completion of a downtown Hanoi metro section will be delayed until 2027 and its cost is set to rise by 82 percent.
— Vietnam Insider

Vietnam’s white paper on defense released
Vietnam on Monday published its white paper on national defense, the first time since 2009.
— Xinhua

Fast-growing Bình Dương appeals to local, foreign investors
As one of the fastest-growing provinces in the southern key economic zone and among Việt Nam’s hottest investment destinations, Bình Dương is opening its doors to investors in a diverse range of fields.
— Viet Nam News

Four million-dollar projects land in Hoa Lac Hi-tech Park this year
The Hoa Lac Hi-tech Park is currently home to 91 projects which have combined investment approvals of over VND85.8 trillion (nearly US$3.7 billion).
— The Hanoitimes

HCM City to review management of State-owned land, property
Authorities in HCM City are planning a review of State-owned housing, funds and assets in an aim to improve management and use of state-owned land and properties in the city.
— Viet Nam News

North-South Expressway projects receive applications from 32 investors
The management boards of the North-South Expressway’s sub-projects have received applications from 32 domestic investors and joint ventures.
— Sggp News

58% of Samsung smartphone revenue comes from Vietnam: PM
Around 50% of Samsung’s smartphones and tablets are produced in Vietnam and exported to 128 countries and territories.
— The Hanoitimes

Sustainable infrastructure investment speeds up growth in Vietnam
Sustainable infrastructure investments are becoming the norm and enabling stable economic and social growth in Vietnam, Nirukt Sapru, CEO, Vietnam and ASEAN & South Asia Cluster Markets at Standard Chartered Bank, said at a recent conference in Ho Chi Minh City.
— VietnamPlus

Việt Nam a new star in Southeast Asia region: Horasis forum
Việt Nam has emerged as a new economic star in the Southeast Asia region, with its southern province of Bình Dương poised to become a new centre for global dialogue in the near future, the chairman and founder of Horasis said on November 24 at one of Asia’s largest economic forums.
— Viet Nam News

Hyatt Hotels Corporation to open dual-brand property in Vietnam come 2023
Hyatt Hotels Corporation will introduce its first dual-branded Hyatt Place and Hyatt House project in South-east Asia, with the 300-key Hyatt Place Saigon, District 7 and 250-key Hyatt House Saigon, District 7 slated to open in Ho Chi Minh City come 2023.
— Vietnam Insider

Lorry driver pleads guilty over role in Essex deaths
A lorry driver charged with the manslaughter of 39 Vietnamese migrants found dead in a refrigerated trailer has pleaded guilty to plotting to assist illegal immigration.
— The Guardian

Int’l trade fair to kick off in Vietnam
The Vietnam International Trade Fair — Vietnam Expo 2019 will be held on Dec. 4-7 in Vietnam’s southern Ho Chi Minh City, gathering some 800 firms from 20 countries and regions, its organizers said on Monday.
— Xinhua

How foreign investors make capital contributions in Vietnam?
Foreign investors and Vietnamese investors in foreign-invested enterprises may make foreign-currency or Viet Nam-dong investment capital contributions at levels stated in investment certificates.
— Vietnam Insider

Seminar highlights Vietnam-India ties, relevance of Ho Chi Minh
A seminar was held in Kolkata, India, on November 24, highlighting the growing relations between Vietnam and India, and new challenges as well as the relevance of President Ho Chi Minh.
— VietnamPlus

Government can pick Long Thanh airport investor sans parliamentary nod
The National Assembly says the government does not need its approval to select an investor for the Long Thanh Airport megaproject.
— VnExpress

32 new textbooks for grade 1 students have been approved
The Ministry of Education and Training has published 32 textbooks for first graders under the new general education curriculum issued in 2018. These textbooks will be used from the 2020 -2021 school year.
— Vietnam Insider

Da Nang wants $2 bln golf course, horse racing track
Da Nang City has proposed a golf course and a horse racing complex with a total investment almost $2 billion, with construction to start this year.
— VnExpress

HCM City, Mekong Delta face serious land subsidence
Land subsidence in HCM City and the Cửu Long (Mekong) Delta has ranged from 0.1 to 81 centimetres in the last 10 years, according to the Water Resources Management Department at the Ministry of Natural Resources and Environment.
— Viet Nam Net

Jack-up campaign starts in Vietnam
Rig’s owner Japan Drilling Company says Vietnam work started on 19 November.
— Upstream Online

Prime Minister receives Vietnam’s Honorary Consul General in RoK
Prime Minister Nguyen Xuan Phuc received Park Soo-kwan, Honorary Consul General of Vietnam in the Republic of Korea’s Busan-Keangnam region, on November 24.
— NDO

Central bank continues to tighten screws on property companies
Vietnam’s central bank plans to gradually reduce the rate of short-term deposits used for medium- and long-term loans, which go mostly to property companies.
— VnExpress

Exchange efficiency key to exhibition success
Exchange efficiency is a crucial constituent element of the success of an exhibition, enhancing trade promotion and encouraging businesses to participate more and more in exhibition activities.
— Viet Nam News

NUS expands its Block71 initiative to Vietnam; aims to promote innovation and entrepreneurship development
NUS Enterprise, the entrepreneurial arm of the National University of Singapore (NUS), has signed a Memorandum of Understanding with Becamex IDC Corporation to establish BLOCK71 in Vietnam to cultivate a vibrant innovation and entrepreneurship ecosystem in the country and beyond.
— e27

Technical recovery expected but massive spending is risky: analysts
The VN-Index had rallied between the end of October and the beginning of November, with strong growth of large-cap firms.
— Viet Nam News

Construction on Quảng Tri 1 thermal power plant kicks off
A ground-breaking ceremony has been held to kick off the construction of the 1,320-megawatt Quảng Trị 1 thermal power plant.
— Viet Nam News

Feature photo MSAVLC

This week’s Vietnam morning news feature photo focus on Day of Remembrance for all Victims of Chemical Warfare, November 30.

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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