Vietnam Morning News For September 4

Vietnam ex-minister took US$3 million bribes in MobiFone case: Police
Police in Vietnam have accused a former information minister of taking US$3 million in bribes in connection with a controversial deal at state telecoms firm MobiFone, state media reported on Tuesday (Sep 3).
— CNA

Vietnam GDT proposes to erase $515M in irrecoverable debts
Vietnam’s General Department of Taxation (GDT) has proposed to erase 12 trillion dong ($515 million) out of the total 30 trillion dong in irrecoverable tax debts.
— The Phnom Penh Post

Vietnam sees slowest rise in industrial output in 21 months
The slowdown in growth in August, and panelist reports of the US-China trade tensions harming demand, show that the Vietnamese manufacturing sector is not immune to the impacts of global trade issues.
— The Hanoitimes

Vietnam’s GDP grows by 25.4% after review: statistical agency
Vietnam’s gross domestic product (GDP) during the 2010-2017 period increased by 25.4% from previously announced data, according to results of a review by the General Statistics Office (GSO).
— NDO

Vietnam’s export turnover up 7.3 percent in eight months
Vietnam’s export turnover hit nearly 170 billion USD in the last eight months, a year on year increase of 7.3 percent, according to the Ministry of Industry and Trade (MoIT).
— VietnamPlus

Vietnam startups gain on Indonesia and Singapore with new funding
Vietnam’s startup sector is growing at a rapid clip despite the global economic slump, as it closes the gap with regional leaders Indonesia and Singapore.
–Nikkei Asian Review (paywall)

Internet Gets Slower in Vietnam, Undersea Cable Repairs Delayed
Repair work on the disaster-prone AAG undersea cable will be completed eight days behind schedule, and Vietnamese internet users will suffer slower speeds.
— Subtelforum

Vietnam’s forestry exports up 18.6% in first eight months
Vietnam’s forestry exports in the January-August period reached US$7.08 billion, up 18.6% over the same period of 2018, with timber and timber products bringing in US$6.66 billion.
— NDO

Vietnam: easing investment rules proposed
Vietnam’s Ministry of Finance has proposed easing minimum investment regulations for building integrated resorts to attract more investment, local media reports.
— Intergame Online

Vietnam among top 10 cheapest countries for taxi fares
Vietnam is one of the 10 countries with the cheapest taxi fares, just 2.8 USD for a 5km cab ride, according to a recent report from Taxi2airport, the global cab-hailing system.
— VietnamPlus

Vietnamese central bank’s anti-dollarization on right track
Experts attributed the success in the fight against the dollarization in the economy to the central bank’s effective policies, including the zero percent dollar deposit interest rate and the foreign exchange stability.
— The Hanoitimes

Vietnamese mangoes enter Chilean market
The first batches of Vietnamese mangoes and Chilean apples were shipped to each other’s markets on August 15, a representative of Chile’s trade office (ProChile) in Ho Chi Minh City said at a recent meeting between the two countries’ businesses.
— VietnamPlus

World powers voice concerns over South China Sea as Beijing bullies Vietnam
The US, India, the UK, Germany, France, Australia, among others have expressed concerns over China`s bullying tactics.
— The Hanoitimes

Rooftop solar power gains popularity in Vietnam
Rooftop solar power capacity in Vietnam is likely to reach roughly 2,000 MW by the end of 2020, local media reported, citing Vietnam Electricity (EVN) as the country is encouraging this type of power.
— The Hanoitimes

EU enhances inspections on Vietnam’s agricultural products from Sept 1
The European Union (EU) began strict phytosanitary inspections on agricultural imports, including those originating from Vietnam, from September 1, according to the Plant Protection Department.
— VietnamPlus

Seven Vietnamese firms among Forbes Asia’s 200 Best Over A Billion list
Vingroup and Mobile World Investment Corporation (MWF) are among the seven Vietnamese firms named in Forbes Asia’s recently announced “Best Over A Billion” list which features 200 top-performing listed companies in the Asia-Pacific region with revenues of a US$1 billion or more.
— NDO

‘New fraud opportunity’: Expert lambasts new Vietnam-Malaysia halal certification centre
An industry expert has voiced criticism over the newly-established Vietnam-Malaysia halal certification centre, saying that this could potentially open up the local food industry to more food safety and food fraud issues.
— Food Navigator

Vietnam eases capital rules on large casino schemes: report
The Vietnam government is reportedly planning to ease the conditions for investment in major casino projects – the sort of schemes that in theory might be eligible to take part in a pilot scheme allowing economically-qualified locals to gamble.
— GGR Asia

Australia and Vietnam to collaborate on e-government and digital transformation
The Australian Government has joined forces with Vietnam in an agreement that will allow each country to share their “digital transformation experience”.
— The Mandarin

Gulf strengthens regional base with Vietnam, Laos plants
SET-listed Gulf Energy Development Plc plans to develop power plants in Vietnam and Laos to strengthen its business presence in Indochina.
— Bangkok Post

Binh Duong runs trade surplus of over US$4.5 billion in eight months
The southern province of Binh Duong recorded a trade surplus of over US$4.5 billion in the first eight months of 2019, according to Director of the provincial Department of Industry and Trade Nguyen Van Danh.
— NDO

CEVA Logistics opens new facility in Vietnam
CEVA Logistics has opened a new facility in Ho Chi Minh City, Vietnam, doubling the size of its local operation with the aim to further develop its services.
— Container Mag

PH contribution, support to Vietnam dev’t cited
A Vietnamese envoy on Monday cited the Philippines’ contribution and support to Vietnam’s development during the Southeast Asian nation’s Independence Day celebration in Pasay City.
— PNA

MEM sees Vietnam renewables work exceed 1.3GW
Clean energy technical consultancy Modern Energy Management (MEM) has advised on over 1300MW of projects in Vietnam.
— Renews

Qisda to set up subsidiary in Vietnam
EMS provider Qisda has disclosed it will invest US$40 million to set up a wholly-owned subsidiary in Vietnam to cope with impacts from the US-China trade war.
— Digitimes

Vietnam’s diplomatic missions in many countries celebrate the country’s National Day
Vietnam’s diplomatic missions in many countries have held ceremonies to celebrate the country’s 74th National Day (September 2, 1945-2019). Vietnam News Agency reports.
— Vietnam Insider

Vietnam attends 8th Seoul Defence Dialogue
Senior Lieutenant General Nguyen Chi Vinh, member of the Party Central Committee and Deputy Defence Minister led a delegation of the Ministry of Defence to attend the eighth Seoul Defence Dialogue in the Republic of Korea on September 3.
— NDO

10 Best Things To Do In Vietnam
Vietnam is a country located in Southeast Asia that has a population of close to 100 million people despite the fact that it’s only slightly larger than the state of New Mexico. This Asian country has a long history, beautiful landscapes, and a rich culture that definitely draws in visitors.
— The Travel

Clipper race begins with Vietnamese representative
The Clipper Round The World Yacht Race began yesterday, about 700 amateur sailors setting off after months of preparation.
— Viet Nam News

Ken Research releases new Research Report on Vietnam Leather and Footwear Market
The global’s tanning industry is characterized by small or medium-sized family businesses. Countries with the fastest growing in tanning industry such as South Korea, Taiwan, China, and Indonesia, have difficulty in supplying raw materials and have to import large quantities of raw materials.
— Vietnam Insider

SmartPay has acquired over 200,000 users and 3,000 merchants across Vietnam since May 2019
Merchants and users can become a part of SmartPay ecosystem by simply installing the app and passing KYC (“Know-Your-Customer”) procedure which implies providing their national ID or linking a bank card to their account.
— Vietnam Insider

Vietnamese export products face stricter non-tariff barriers in EU
Việt Nam’s agricultural products need to meet the stricter requirements applied by the EU from September 1, 2019, to promote exports to this market as well as others, according to the Ministry of Agriculture and Rural Development (MARD).
— Viet Nam News

Credit funds to lend helping hand to SMEs
The firms enjoying the credit guarantee funds also includes the SMEs who suffer losses of finance and assets caused by natural disasters and those who go bankrupt in accordance with current law.
— Viet Nam News

Thai firm to expand power plants to VN
Besides Việt Nam, Gulf also wants to develop a power plant in Laos.
— Viet Nam News

SEA Games contests launched in Vietnam
The 31st Southeast Asian (SEA) Games organisers have launched a public competition to create the logo, mascot, slogan and song for the multi-sport event in Vietnam in 2021.
— Vietnam Insider

Feature photo WorldKings

This week’s Vietnam morning news feature photo focus on Vietnam National Day, September 2.

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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