Vietnam Morning News For July 7, 2020

Vietnam blocks new airlines until 2022 despite market duopoly
Vietnam plans to freeze approval for new entries to the airline industry until 2022, a move that threatens to solidify the virtual duopoly already in place.
— Nikkei Asian Review (paywall)

Exporters fear coronavirus will cause more pain
A global resurgence in Covid-19 cases could put paid to Vietnam’s plans to boost exports in the second half, business executives have warned.
— VnExpress

National retail sales, service revenues up in June
Online shopping has become increasingly popular, especially when social distancing measures were put in place.
— Viet Nam News

Vietnam Sentences Three Members of Exile Group to 19 Years Total for Spreading ‘Propaganda’
A Vietnamese court on Monday sentenced three members of an exile group Hanoi calls a terrorist organization to a total of 19 years in jail for sharing information critical of the government.
— Radio Free Asia

Vietnam reports 14 new COVID-19 cases, all imported
Vietnam’s health ministry on Monday reported 14 new coronavirus infections, all among Vietnamese citizens held in quarantine upon their arrival from overseas.
— The Guardian

Vietnam Airlines Launches Three New Domestic Routes
Vietnam Airlines is stepping up its flying out of Da Lat in southern Vietnam. From July 2, the airline will begin flying to Can Tho from Da Lat. Shortly after, new routes between Da Lat and Hue and Da Lat and Thanh Hoa will begin.
— Simple flying

Vietnam Outperforms Among Asia’s Frontier Sovereigns
Vietnam is positioned to stand out among Asia’s frontier and emerging markets this year in terms of its economic resilience and success in bringing the coronavirus outbreak under control, says Fitch Ratings.
— Fitch Ratings

VinSmart launches Vsmart Aris 5G smartphone
VinSmart Research and Manufacturer Joint Stock Company, an affiliate of Vingroup, on Monday announced smartphone Vsmart Aris 5G, marking its trial manufacture of the first domestic terminal incorporating 5G technology in Việt Nam.
— Viet Nam News

Vietnam’s northern region prepares for natural disasters
The Central Steering Committee for Natural Disaster Prevention and Control has asked ministries, sectors and local governments to prepare for flooding as a result of heavy downpours in the northern region in the coming days.
— The Star Online

VIB’s journey to large retail bank
Vietnam International Bank (VIB) aims to earn pre-tax profit of VNĐ4.5 trillion (over US$193 million) in 2020, up 10 per cent year-on-year.
— Viet Nam News

OECMs promise a new conservation opportunity for Việt Nam
A new conservation designation of the Convention on Biological Diversity (CBD) promises more opportunities for Việt Nam to boost conservation work in the country, experts have said.
— Viet Nam Net

Moody’s maintains ratings for BIDV
Moody’s has announced to maintain the ratings of the Joint Stock Commercial Bank for Investment and Development of Việt Nam (BIDV).
— Viet Nam News

Việt Nam’s coffee exports up in H1
Việt Nam exported 955,000 tonnes of coffee, worth US$1.6 billion in the first six months of 2020, according to the Department of Import and Export under the Ministry of Industry and Trade.
— Viet Nam News

HEINEKEN Vietnam listed in top Asia’s best places to work
HEINEKEN Vietnam on July 1 took home the award for one of the best companies to work for in Asia for the third year in a row by HR Asia Magazine, one of Asia’s leading publications for human resources professionals.
— Vietnam Insider

Stock market players hail covered warrants on 1st anniversary
One year after they were introduced on the Ho Chí Minh Stock Exchange, covered warrants have had a positive impact on the market, helping increase liquidity for their underlying stocks.
— Viet Nam News

Việt Nam to go digital or lose out: Deputy PM Đam
Deputy Prime Minister Vũ Đức Đam highlighted the role of digital transformation when he met with leaders from the Ministry of Information and Communication (MIC) and the Việt Nam Computer Association, as well as members of the IT community, at a seminar on July 3.
— Viet Nam News

Recruitment startups bag millions of dollars
Vietnamese recruitment startups have raised tens of millions of dollars in the last six months despite coronavirus impacts on the economy.
— VnExpress

Telecommunication revenue grows slightly due to COVID-19
The growth was lower than in the same period last year at 7.2 per cent.
— Viet Nam News

25 years of Vietnam – America relations: Historical moments
Vietnam- America relation has remarked countless memorable events over the last 25 years. However, now looking back, there are a few moments are truly stood out that have strengthened the rapport between the two countries. These are honored as historical events.
— Vietnam Times

ACV revenue and profit to tumble
The ACV estimated it would record total revenue of VNĐ11.3 trillion (US$489.3 million) and total profit before tax of more than VNĐ2 trillion.
— Viet Nam News

Legal framework being improved to implement EVFTA
Tax policies are being specified while customs procedures simplified to improve the legal framework to facilitate the European Union – Việt Nam Free Trade Agreement (EVFTA) enforcement.
— Viet Nam News

EuroCham proposes Gov’t to cut 50 per cent of registration fee for imported cars
The European Chamber of Commerce in Việt Nam (EuroCham) proposed the Government to apply the 50 per cent registration fee reduction to all automotive assembly firms, importers and dealers of new vehicles.
— Viet Nam News

Environmentally-friendly production and consumption to enhanced
The production and use of environmentally-friendly and recycled products will be encouraged in economic development plans for 2021-2030.
— Viet Nam Net

P2P firms waiting for a sandbox
Peer-to-peer (P2P) lending companies expect that the sandbox for fintech would eliminate unscrupulous businesses and help the market grow significantly.
— Viet Nam News

T’way Airlines to resume one-way flights from Vietnam to Korea
Budget carrier T’way Airlines has announced plans to resume its HCMC-Seoul service on July 22, though only carrying passengers one way to South Korea.
— VnExpress

National retail sales, service revenues up in June
Online shopping has become increasingly popular, especially when social distancing measures were put in place.
— Viet Nam News

Shares to correct amid lack of positive news
Shares are forecast to experience volatility and correction this week because the absence of supportive information may negatively influence the stock price movement.
— Viet Nam News

Suncity Group reveals latest US$30 million loan to developer of Vietnam IR Hoiana
Suncity Group has announced that it will contribute part of a new US$60 million loan to the operating entity of integrated resort, Hoiana, located near Hoi An in Vietnam.
— Asgam

Sacombank signs up to lend to enterprises affected by COVID-19
Sacombank and 15 other banks have signed credit contracts to provide preferential loans to corporate customers to support them in their efforts to restore and expand business and production after the COVID-19 pandemic.
— Viet Nam News

VN-Index starts new week with positive signs
The VN-Index surged 1.6 percent, or 13.55 points, to 861.16 points Monday, with blue chips driving the market’s gains.
— Vietnam Insider

Đà Nẵng sees negative economic growth for first time in over 20 years
Due to the coronavirus pandemic, the central city of Đà Nẵng saw its GRDP for the first half of the year contract by 3.61 per cent from the same period in 2019, the first time since the city became a centrally-run locality in 1997.
— Viet Nam News

Firms to recruit more workers in Q3
Q3 recruitment will improve over the previous quarter as countries reopen borders and some companies start to boost much-delayed production, a new report says.
— VnExpress

Why Vietnam is going to emerge the strongest post-COVID-19?
Vietnam is one of the first countries to ease social distancing measures and reopen its society as early as April 2020, where most countries are only starting to grapple with the severity and spread of COVID-19.
— e27

Vietnam insurance firms expect Covid-19 profit downers
Many insurers have their lowered profit targets, finding it harder to sell non-life insurance products as Covid-19 restricts travel, tourism and international trade.
— VnExpress

Vietnam’s rapid retail recovery melts Covid virus gloom
Vietnam retail and service revenues surged by 5.3 percent in June over the same month last year – and by 6.2 percent over May.
— Retail News

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