Vietnam Morning News For February 25, 2020

Vietnam tells banks to cut or delay loan payments from virus-hit firms – c.bank
Vietnam’s central bank ordered commercial banks on Monday to eliminate, cut or delay interest payments on loans to companies facing losses due to the coronavirus outbreak.
— Yahoo News

Vietnam loosens regulations for car imports
Vietnam has scrapped the requirement for vehicle type approval certificates for car imports and eased customs clearance procedures.
— Retail News

An Introduction to Doing Business in Vietnam 2020 – New Publication from Dezan Shira & Associates
An Introduction to Doing Business in Vietnam 2020, the latest publication from Dezan Shira & Associates, is out now and available for complimentary download through the Asia Briefing Publication Store.
— Vietnam-Briefing

Vietnam to restructure key services through IT
Vietnamese Prime Minister Nguyen Xuan Phuc has launched an initiative to restructure the services sector using advanced technology and artificial intelligence to improve competitiveness.
— The Phnom Penh Post

What effect will COVID-19 have on Viet Nam’s FMCG market?
The COVID-19 epidemic is having an impact on Vietnamese consumer behaviour in the first quarter and will possibly continue in the second quarter, according to global data and consulting company Kantar Worldpanel.
— Viet Nam News

Vietnam train services may be derailed by funding chaos
Vietnam could cease to have an operating train system in less than two weeks unless a funding issue at Vietnam Railways (VNR) is resolved, an official has said.
— The Phnom Penh Post

Vietnam opens first overseas tourism office in UK
The Vietnam National Administration of Tourism (VNAT) launched its first international office in London during a ceremony at the Foreign and Commonwealth Office.
— Travel Daily Media

MoIT to give fixed prices for more solar power projects
The Ministry of Industry and Trade (MoIT) has had a change of heart on the bidding mechanism for solar power tariffs in Việt Nam.
— Viet Nam News

Defense Meeting Puts Japan-Vietnam Security Ties into Focus
The recent consultation highlighted what both sides are emphasizing in 2020 within the defense aspect of the relationship.
— The Diplomat

Export activities at border gates still slow: Ministry
Export activities through border gates with China were still slow by February 23, according to the Ministry of Industry and Trade.
— Viet Nam News

HCM City draws up specific policies for large firms
HCM City plans to draw up specific policies for firms having capital of more than VNĐ100 billion (US$4.3 million) in the first quarter of this year, and has committed to create more favourable conditions for enterprises.
— Viet Nam News

Japanese businesses to invest in Vietnam’s services and retail
Services and retail are forecast to attract a large amount of Japanese direct investment into Vietnam this year.
— VietnamPlus

Bamboo Airways suspends S.Korea flights to contain coronavirus
Vietnam’s private airline Bamboo Airways will suspend all routes to and from South Korea to stem the spread of the virus.
— VnExpress

Vietjet Offers 50% Discount On All Routes Across Asia
Vietjet has announced its latest special promotion offering 50 per cent discount on ticket fares for all routes (excluding taxes and fees) with booking time till February 29, 2020. This exclusive promotion brings people and tourists opportunities to experience new destinations, refresh emotions and enjoy flying green with Vietjet.
— Travel Trend Today

US delisting of Vietnam as developing nation no big deal
The U.S. declassification of Vietnam as a developing nation was anticipated and will affect neither existing countervailing duties levied nor its WTO benefits, experts say.
— VnExpress

BIDV puts auto firm Vinaxuki up for sale to recover bad debt
The Bank for Investment and Development of Vietnam (BIDV) has announced plans to put secured assets of Xuân Kiên Auto JSC (Vinaxuki) up for auction to recover the VNĐ1.26 trillion (US$55 million) non-performing loan.
— Viet Nam News

Bà Rịa-Vũng Tàu authorities step in, warn against land price bubble due to Vincom rumour
Authorities in a ward in Châu Đức District in the southern province of Bà Rịa-Vũng Tàu are warning buyers to be careful when buying land there, saying rumours about a giant property company buying there has caused a price bubble.
— Viet Nam News

Sugar stocks on the rise thank to global rising prices
Shares of sugar companies have gained sharply as raw sugar prices are skyrocketing on the world market.
— Viet Nam News

MoIT fines online sellers hiking prices of face masks and hand sanitiser
Sellers hiking the prices of face masks and hand sanitiser on some e-commerce websites have been fined.
— Viet Nam News

Việt Nam records trade deficit in first half of February
Việt Nam recorded a trade deficit of US$30 million in the first half of February, according to the General Department of Customs.
— Viet Nam News

Mastercard appoints Safdar Khan as Division President for Southeast Asia Emerging Markets
Mastercard on Monday announced the appointment of Safdar Khan as Division President for Southeast Asia Emerging Markets, to further expand the region’s cashless agenda and will be supported by Winnie Wong, Country Manager, Việt Nam, Cambodia & Laos.
— Viet Nam News

Nature reserve founded in central province
The Tam Giang-Cầu Hai Wetlands Nature Reserve has been founded following a decision by chairman of the Thừa Thiên-Huế People’s Committee Phan Ngọc Thọ.
— Viet Nam Net

Vietnamese universities to raise admission criteria
The Ministry of Education and Training (MoET) states that in the upcoming academic year, universities in Vietnam must stop using unsuitable subject combinations to accept new students. Neither can they lower admission grades to attract more people. Autonomy is encouraged among these educational institutes, as long as they are able to ensure admission and training quality.
— Sggp News

Vietnam, US Cooperate on Arrest in Child Sex Case
Vietnam and the U.S. have announced that cooperation on cross-border crime has led to a U.S. grand jury indictment of an American teacher accused of traveling to the Southeast Asian nation to have sex with minors.
— New Delhi Times

ACV expects 2020 profit down by 6 trillion VND due to COVID-19
The Airports Corporation of Vietnam (ACV) expects profit this year will reach just 1.7 trillion VND (73.4 million USD), a decrease of more than 6 trillion VND compared to the year’s forecast, due to the effect of COVID-19.
— VietnamPlus

HCM City instructs apartment buildings to strengthen preventive measures against COVID-19
The HCM City Department of Construction has urged district administrations to instruct the managements of apartment buildings to strengthen preventive measures against COVID-19 infection to ensure residents’ safety.
— Viet Nam News

Last patient in Vietnam tests Covid-19 negative
The last of 16 people who have been infected with the novel coronavirus in Vietnam has tested negative, doctors announced Sunday.
— VnExpress

Vietnam-based Amanotes ranks among top mobile app publishers worldwide
Amanotes, a mobile game publisher based in Viet Nam, has been ranked among the top positions worldwide in two recent major surveys of the rapidly growing global mobile market.
— Viet Nam News

Duolingo plots expansion in Vietnam
US-based language learning app Duolingo, which is valued at US$1.5 billion, is exploring ways to step up its presence in Vietnam.
— Tech In Asia

Japanese businesses to invest in Việt Nam’s services and retail
Services and retail are forecast to attract a large amount of Japanese direct investment into Việt Nam this year.
— Viet Nam News

Services sector to promote IT application
The restructuring of the services sector would be hastened towards increasing the application of high technologies and artificial intelligence to improve competitiveness.
— Viet Nam News

Vietnam Sharply Divided on Coronavirus School Closures
Vietnam is sharply divided on how long to close schools because of the coronavirus, which has prevented parents from going to work and threatens further economic damage. Supporters want to keep students at home until April, while opponents say the panic is overblown.
— VOA

Afternoon News Roundup: Vietnamese startup Waves raises US$1.2M seed funding for its podcast service
Vietnamese startup Waves raises US$1.2M seed funding for its podcast service Waves, an audio and podcast startup, announced today that it has raised US$1.2 million seed funding in a round led by Singapore’s Insignia Ventures Partners, with participation from Hustle Fund and Skystar Capital, according to KrAsia.
— e27

Work starts on $59m wind power plant in Sóc Trăng
The first phase of the plant is slated for completion at the end of 2020, it said.
— Viet Nam News

South Korean investment in Vietnam grows amid U.S.-China trade war
Samsung Electronics and other South Korean companies are increasing investment in Vietnam against the backdrop of slowing exports resulting from trade friction between the U.S. and China.
— Nikkei Asian Review

Foreign capital keeps flowing out to weigh on VN stocks
Last week’s net-selling figure jumped nearly 600 per cent from the number recorded in the previous week.
— Viet Nam News

ACV expects 2020 profit down by VNĐ6 trillion due to disease influence
The Airports Corporation of Vietnam (ACV) expects profit this year will reach just VNĐ1.7 trillion (US$73.4 million), a decrease of more than VNĐ6 trillion compared to the year’s forecast, due to the effect of the COVID-19.
— Viet Nam News

Đang Nai becoming housing hot spot as neighbouring HCM City runs out of land
Eleven major real estate projects will be developed in Đang Nai this year, according to the province People’s Committee.
— Viet Nam News

Feature photo Không phân biệt đối xử

This week’s Vietnam morning news feature photo focus on Zero Discrimination Day, March 1.

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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