Vietnam Morning News For February 13, 2020

EU seen opening up trade to Vietnam, closing door to Cambodia
The moves mark Europe’s increased insistence that trading partnerships go beyond liberalization and be coupled with commitments to environmental, labor and social standards. On Wednesday, it will display both its carrot and stick.
— Reuters

Vietnam’s 4G Users To Grow By 10 Million In 2020
Viettel Group is planning to accelerate 4G universalization in Vietnam by cooperating with vendor to supply smartphone under $65 and feature phones under $25. Additionally, Viettel will add around 2,400 base stations to fill 3,700 coverage holes across the country. With these two solutions, Viettel forecasts the number of 4G users in Vietnam to increase by 10 million.
— Yahoo News

Deputy PM hosts investors interested in LNG power development in Vietnam
Deputy Prime Minister Trinh Dinh Dung on February 11 received a group of investors from the US and the Republic of Korea who are interested in liquefied natural gas (LNG) power development in Vietnam.
— NDO

Trade origin fraud remains problem for Vietnam despite US-China deal
Vietnam customs says that it is clamping down on trade origin fraud, which has spiked over the past year, as exporters reroute their goods through the country to take advantage of its free trade agreements (FTAs) and circumvent additional duties.
— Gtreview

Cambodian Monk Stuck in Vietnam as Police Seize Passport
A Cambodian monk belonging to the ethnic Khmer Krom minority group has been left stranded in Vietnam after Vietnamese police seized his passport, leaving him effectively stateless and unable to return home, according to several sources.
— Radio Free Asia

Vietnam to remove 49% foreign ownership cap for payment firms
The State Bank of Vietnam (SBV) has proposed to remove the 49 per cent foreign ownership limit in payment intermediary businesses, according to a statement on Monday.
— DealStreetAsia

Vietnam’s textile industry urged to source for raw materials from Malaysia and India
Vietnam’s textile industry has been urged to source for raw materials from Malaysia and India while its main supplier China rides out the storm created by the outbreak of Covid-19.
— The Star Online

Tax industry seeks ways to fight against transfer pricing
The tax industry has penalized and collected thousands of billion of dong in tax arrears after launching inspections at foreign direct investment (FDI) companies comprising Coca-Cola Vietnam, Heineken and Standard Chartered.
— Sggp News

Vietnam government pushes for new ODA policy
A draft decree on ODA is expected to address pending issues and obstacles existed in the current regulations.
— Hanoitimes

Investment in Việt Nam-based start-ups grows sharply in 2019: Cento Ventures
Investment in Việt Nam-based start-ups grew sharply in 2019, according to Singapore-headquartered venture capital firm Cento Ventures.
— Viet Nam News

Pivot to Vietnam: Reorienting America’s Supply Chain
The general perception of Vietnam as a low-skill manufacturing hub disguises a leap up the value chain over the past decade.
— Industry Week

Vietnam should develop high-added value electronics sector, say experts
Vietnam should pen a general plan to shape up an electronics sector with higher value as the industry is currently assembling and processing simple products, according to experts.
— VietnamPlus

Heineken Sees 2020 Profit Growth As Some Commodity Costs Ease
Heineken, whose chief executive will step down in June after 15 years in charge, said it had closed the year with 4.1% beer volume growth in the fourth quarter, helped by strong increases in Brazil, Vietnam and Cambodia.
— Business World

European Parliament ratifies EVFTA, EVIPA
The European Parliament (EP) on Wednesday ratified the EU-Việt Nam Free Trade Agreement (EVFTA) and the EU-Việt Nam Investment Protection Agreement (EVIPA).
— Viet Nam News

Quảng Trị strives to become regional energy centre in 2025
Local leaders said they had seen breakthroughs in attracting investment in its energy sector in the past few years.
— Viet Nam News

Shares move up but growth narrowed at the end of trading
Shares maintained their upward trend on Wednesday but the gain slowly narrowed at the end of the trading as some pillar stocks lost momentum.
— Viet Nam News

Vietnam to reboot the economy after novel coronavirus damage
Authorities and businesses are scratching their heads for solutions to reboot Vietnam’s economy as the new coronavirus hurts key industries.
— VnExpress

Vietnam seeks US help to develop vaccine against African swine fever
Vietnam has requested the U.S. to transfer the genetically altered African swine flu virus it has developed to facilitate vaccine production.
— VnExpress

Young people in HCMC enthusiastically perform military services
Ceremonies were held in several districts of Ho Chi Minh City (HCMC) this morning to send off a large number of young people, including 6 females, for military and police services in the period of two years.
— Sggp News

242 HoSE stocks rise as VN-Index inches up
The VN-Index added 0.32 percent to 937.68 points Wednesday, with three blue chips hitting their ceiling prices.
— VnExpress

Vietnam’s Central bank removes foreign ownership limit in payment firms
The State Bank of Vietnam (SBV) has announced it would remove regulations limiting foreign ownership in local intermediary payment firms from its draft Decree No 101.
— Vietnam Insider

EVFTA to open up unprecedented opportunities for Vietnam and EU
The agreement, concluded after six years of negotiations, has been dubbed “the most ambitious” FTA the EU has ever reached with a developing country.
— Hanoitimes

Vietnam seeks measures against transfer pricing at FDI
The tax industry has penalized and collected thousands of billion of dong in tax arrears after launching inspections at foreign direct investment (FDI) companies comprising Coca-Cola Vietnam, Heineken and Standard Chartered.
— Vietnam Insider

Vietnam connects ASEAN nations in fight against coronavirus
Vietnam has suggested setting up a Joint Ministerial Working Group in ASEAN to cope with the coronavirus epidemic.
— Hanoitimes

Three scenarios for Vietnam’s tourism revival proposed
As the epidemic emerges, a series of travel companies have suffered heavy losses in a short time due to cancellations of inbound tours.
— Hanoitimes

Vietnam’s e-commerce firms Tiki and Sendo rumored to engage in merging talks
The merging would create a stronger firm capable of rivaling regional players such as Lazada and Shopee in Vietnam’s retail market.
— Hanoitimes

No shortage of essential goods in HCMC
Contrary to the widespread rumor on the social networking sites saying that Ho Chi Minh City has been facing a shortage of goods as the demand for stockpiling goods of citizens increased strongly, reporters of Sai Gon Giai Phong Newspaper on February 10 made a field trip and recorded that except for face masks and hand sanitizers, all other essential products remained plentiful with steady prices.
–Sggp News

Seafood export value down in January
Việt Nam’s total seafood export value in January fell by 12.5 per cent to US$644 million year-on-year due to the impacts of the novel coronavirus epidemic, according to the Việt Nam Association and Seafood Exporters and Producers (VASEP).
— Viet Nam News

Textile, rubber-plastic brace for raw material shortage
Việt Nam’s key industries such as textiles, rubber and plastic must take measures to prepare for a shortage of raw materials as a result of the outbreak of the novel coronavirus in China, warned industry leaders and economic experts.
— Viet Nam News

VN stocks rebound on bottom-fishing
Shares rebounded on Tuesday after stocks dropped due to the coronavirus, prompting investors to buy in low.
— Viet Nam News

REE to make first 2019 dividend payment in April
REE lists more than 310 million shares on the Ho Chi Minh Stock Exchange (HoSE) with the code REE.
— Viet Nam News

Opportunities to boost consumer goods exports to the US market: seminar
Vietnamese consumer goods are expected to find ways to the US market given rising trade between the two countries.
— Viet Nam News

Foreign investors net buy VN shares after five months
Foreign players’ net purchases of equity on Việt Nam’s stock exchanges approximated VNĐ1.97 trillion (US$84.4 million) in the month.
— Viet Nam News

WWF-Việt Nam, GreenViet work to protect endangered primates
The World Wide Fund for Nature (WWF)-Việt Nam and the Centre of Biodiversity Conservation, GreenViet, will work together on a project to protect the gray-shanked douc langurs in the central province’s Núi Thành district in 2020.
— Viet Nam Net

Lộc Trời Group targets 28 per cent increase in profit
The firm’s net profit target is VNĐ430 billion ($18.5 million).
— Viet Nam News

Digiworld targets 20 per cent revenue growth
The company is also targeting a post-tax profit jump by a quarter to VNĐ202 billion this year.
— Viet Nam News

Phú Yên seek investment
As of last year, the province’s economic and industrial zones had lured 100 projects with a total investment of nearly US$520 million.
— Viet Nam News

Hoar frost damages crops in Lâm Đang Province
The Lâm Đong Province Department of Agriculture and Rural Development will provide financial support for Lạc Dương District farmers whose coffee trees were damaged by hoar frost, Nguyen Văn Châu, deputy director of the department, said.
— Viet Nam Net

Yeah1 shares soar after officers put stakes on sale to strategic investor
Media company Yeah1 shares surged 6.9 per cent on Tuesday after its chairman and CEO offered shares on sale.
— Viet Nam News

Feature photo My VietNam Radio

This week’s Vietnam morning news feature photo focus on World Radio Day, February 13.

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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