Vietnam Morning News For October 9, 2019

Vietnam doubles down on solar: $37 mln ADB loan to fund largest floating solar project in region (video)
After commissioning the largest solar farm in Southeast Asia last month Vietnam is to kick its use of renewable energy to a higher level with the largest installation of floating solar photovoltaic (PV) panels in the region.
— AEC News Today

New guidelines on incentives for investments at industrial or economic zones
The Circular provides details on tax incentives for enterprises that have investment projects in Vietnam’s industrial and economic zones, encouraging them to make investments that improve the quality of life around industrial zones.
— Vietnam Insider

Pollution app pulled in Vietnam after coordinated campaign of abuse
A leading air quality monitoring app was removed from Vietnam’s Apple and Google stores after it said it was attacked in a “coordinated campaign” for posting pollution data from the country’s smog-choked capital.
— asia one (extremely annoying popups)

Việt Nam is in the process of getting an export licence for avocados to the US
The Việt Nam Trade Office’s branch in San Francisco (US) said avocados are mainly sold at big supermarkets with large volumes, so they must meet the high requirements of the US market.
— Vietnam Insider

Vietnam to name government agencies sluggish in disbursing ODA
Starting October 15, the Ministry of Finance is scheduled to disclose the disbursement data on a 15-day basis at http://mof.gov.vn.
— The Hanoitimes

Vietnam Airlines will launch inflight Wi-Fi service on some flights from this week
Providing inflight Wi-Fi service is one of the steps that Vietnam Airlines is taking towards becoming a digital airlines by 2020 and an international five-star airline in the future.
— Vietnam Insider

Vietnam Cuts Enterprise Registration Fees
Vietnam’s Ministry of Finance issued Circular No 47/2019/TT-BTC reducing enterprise registration certificate (ERC) fees or business registration fees by half. The new circular went into effect on September 20.
— Vietnam Briefing

Tech giants must challenge Vietnam censorship: HRW
A Vietnamese pro-democracy activist arrested last month for his Facebook posts must be released, according to Human Rights Watch (HRW).
— Asean Economist

Vietnam’s footwear export rises 13.5 pct in 9 months
Vietnam raked in over 13.3 billion U.S. dollars from exporting footwear in the first nine months this year, witnessing a year-on-year rise of 13.5 percent, according to the Vietnam Leather, Footwear and Handbag Association on Tuesday.
— Xinhua

Saigon to double car registration fees
HCMC will raise registration fees of cars under 9 passenger seasts from VND11 million ($473) to VND20 million ($860) from October 17.
— VnExpress

Why Vietnam ranked top 20 as World’s Best Countries To Invest
This is a remarkable improvement against the 23rd position last year, surpassing neighbors like Malaysia, Indonesia, and Singapore. Vietnam Investment Review (VIR) report
— Vietnam Insider

Air quality app under ‘coordinated attack’ in Vietnam amid heavy Hanoi smog
Independent online air quality index monitor AirVisual said on Monday it is under coordinated attack to discredit the company after its data showed Hanoi has at times recently topped the list of the most polluted cities in the world.
— CNA

Vietnam-Russia Bilateral Ties Deepen, Boost Investment
Russia was one of the first countries to establish diplomatic relations with Vietnam, laying the groundwork for a strong bilateral and economic relationship between the countries.
— Vietnam Briefing

PVN’s business result exceeds set target
The Vietnam Oil and Gas Group (PVN) gained nearly VNĐ561 trillion (US$24.28 billion) in revenue in the past nine months, 12 per cent higher than its nine-month target, the group has announced.
— Viet Nam News

New mindset needed for Vietnam to have tech unicorns
There has been a growing number of local startups who neglect raising funds in subsequent rounds after gaining initial successes, said an expert.
— The Hanoitimes

ME Corp licensed to provide payment intermediary services
The State Bank of Việt Nam (SBV) has licensed the Mobile Entertainment Corporation (ME Corp) to provide payment intermediary services.
— Viet Nam News

Rice export volume up but value falls
Việt Nam enjoyed growth in its rice export volume but saw value fall in the first nine months of the year, according to the Ministry of Agriculture and Rural Development.
— Viet Nam News

Hanoi hospital successfully applies first fetal intervention technique
The Hanoi Obstetrics and Gynecology Hospital is the first public hospital in Vietnam to carry out interventions in amniotic sac.
— The Hanoitimes

Vinpearl Air eligible for establishment: Transport Ministry
The Ministry of Transport has given the go ahead for Vinpearl Air JSC under private conglomerate Vingroup to seek the Prime Minister’s approval for its investment plan.
— VietnamPlus

Vietnam sentences 11 people to death for drug trafficking
A court in Ho Chi Minh City has sentenced eight people to death for drug trafficking, a court official said on Tuesday (Oct 8), while in northern Vietnam, three others faced the same fate and two received life imprisonment.
— The Straits Times

Fintech has huge opportunities in VN: experts
With cash still being the main payment mode, a youthful demographic and growing smartphone penetration, Việt Nam offers great opportunities for fintech developers, experts said.
— Viet Nam News

Shrimp breeders expand production, seek to join global supply chains
Local shrimp-breeding enterprises have mobilised investment from various sources to expand production in an aim to attract partners from shrimp supply chains from around the world.
— Viet Nam News

Japan helps Vietnam enhance water environment management
A project on a regional survey on the private sector to disseminate Japanese technology for simple water monitoring devices to enhance water environment management capacity was officially launched on October 8.
— NDO

Uber of Southeast Asia to Get Police Safety Training in Vietnam
But that is the main public service mission now that the Uber of Southeast Asia, Grab Inc, has signed a memorandum of understanding to cooperate with the Vietnamese police.
— VOA

Pig prices inch up in Vietnam’s southeast region
The price of pigs in southeastern provinces has increased by VND10,000 (US$0.43) per kilogram since the start of October as pig farmers in the region begin to rebuild their herds, the Voice of Vietnam reports.
— NDO

Vietnam holds ceremony for first smart city project in Hanoi
At the ceremony for the first smart city project, it was revealed that a multi-functional smart monitoring and warning system will be installed as part of the project.
— OpenGovAsia

Banks forecast strong performance despite credit slowdown
Most domestic credit institutions and foreign banks’ branches in Việt Nam expect their business performance in 2019 to be better than last year despite the predicted slowdown in credit growth, according to the State Bank of Việt Nam’s latest survey released late last week.
— Viet Nam News

Incentives for Developing Infrastructure at Vietnam’s Industrial Zones
Vietnam’s industrial zones have played a pivotal role in attracting foreign investments and driving economic growth in the country.
— Vietnam Briefing

MoIT targets contraband, counterfeit goods sold online
Jewellery, cosmetics, supplements, liquor, clothing and footwear sold online are among the Ministry of Industry and Trade’s (MoIT) targets in their upcoming campaign to fight contraband and counterfeit goods, and to reinforce intellectual property rights.
— Viet Nam News

Today’s top tech news: Vietnamese edutech MindX raises US$500K led by ESP Capital
Didian introduces B2B proptech marketplace, claiming to be the first [Press Release] New proptech firm Didian Realtor Sdn Bhd announces the launch of Malaysia’s B2B property marketplace aimed at reinventing property sales.
— e27

MoIT to ensure enough goods for Tết festival next year
The Ministry of Industry and Trade (MoIT) will ensure the supply-demand balance of essential commodities for the Tết (Lunar New Year) of 2020 and implement a programme on keeping goods in stock for market stabilisation.
— Viet Nam News

Vietnam is powering full steam towards the future
These days, I get nostalgic every time I make a trip to Hanoi. This time around, it was about Vietnam’s street food scene.
— Bangkok post

External risks weigh on foreign capital pouring into Vietnam’s stock market
Foreign investors’ trading on exchanges and net injecting/withdrawing value from the exchange-traded funds (ETFs) has a high correlation with a usual lag of one month.
— The Hanoitimes

Budweiser maker Anheuser-Busch InBev targets expansion in Vietnam
In order to grow further, the company needs to make a breakthrough in Southeast Asian countries such as Vietnam and the Philippines, said a research analyst at Euromonitor.
— The Hanoitimes

Amazon, Alibaba speed up their race in Vietnam
Alibaba, the Chinese e-commerce group, recently revealed there will be ameeting for Vietnamese enterprises in October. Prior to that, Amazon promised to create an effective channel for Vietnamese brands to sell their products.
— Vietnam Insider

HSBC Will Cut Up to 10,000 Jobs to Slash Costs
HSBC Holdings Plc may eliminate as many as 10,000 jobs as part of a cost-cutting drive, according to a Financial Times report that signaled Europe may bear the brunt of the initiative.
— Vietnam Insider

Vietnam’s coffee trade remains lacklustre
Coffee trading in Vietnam remained lacklustre this week as stockpiles dwindled and supply from the new season is unlikely to be available in around a month.
— Business recorder

Former delivery CEO joins Vingroup’s logistic firm
One Mount Group was founded by Vingroup and its partners on September 26, 2019 and has charter capital of VNĐ3 trillion (US$129 million).
— Viet Nam News

Central Highlands seeks business opportunities with Japan
Localities in the Central Highlands are seeking to strengthen cooperation with partners from Japan.
— Viet Nam News

VN stocks slide on overall worries
Modest trading liquidity proved investors were quiet to trade ahead of key international events this week, including the US-China talks.
— Viet Nam News

Green actions help ditch plastic in Đà Nẵng
Phạm Đạt, 28, started up his own café – Tipi Coffee – in the central city of Đà Nẵng in 2014, but started going ‘green’ by using bamboo straws two years later. The café started using glass and stainless steel straws in 2017.
— Viet Nam Net

Japanese firms increase investment in Vietnam’s agriculture
Up to 70 percent of Japanese businesses want to expand investment in Vietnam, especially in agriculture, a recent survey conducted by the Japan External Trade Organisation (JETRO) showed.
— VietnamPlus

Vietcombank reports a record profit
Joint Stock Commercial Bank for Foreign Trade of Vietnam (Vietcombank) on Monday reported a record profit of nearly VNĐ17.6 trillion (US$758.2 million) in the first nine months of the year
— Viet Nam News

Shares open week on negative note, foreign net sells continue
Shares closed on a negative note on Monday after foreign investors extended their net selling streak, further damping investor sentiment.
— Viet Nam News

Feature photo Bưu điện Việt Nam – VNPost

This week’s Vietnam morning news feature photo focus on World Post Day, October 9.

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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