Vietnam Morning News For January 10, 2020

Vietnam passport bottom of 2020 global power list
Among those enjoying the least visa free access, Vietnam’s passport climbed two spots to 88th among 107 in the latest power ranking.
— VnExpress

Is Vietnamese fruit exported to China “disguised” as Cambodian fruit?
Everybody knows that Chinese importers are extremely careful with fruit imported from Vietnam ever since Vietnamese fruit farmers struggled with food safety issues.
— Fresh Plaza

U.S. Furniture Industry Eyes Cambodia as Vietnam’s Wages Rise
A shortage of workers in Vietnam — a huge beneficiary of the U.S. trade war with China — is getting severe enough that some furniture makers are now scouting Cambodia and Bangladesh for factories, according to one industry chief executive.
— Bloomberg

Cement exports hit record second straight year
According to the Import-Export Department under the Ministry of Industry and Trade, the country’s cement and clinker exports reached approximately 34 million tons, worth more than US$1.39 billion, in 2019, an increase of $148 million compared to that in 2018.
— Sggp News

Vietnam to imports 100,000 tons of pork in Q1 to offset shortage
As of December 2019, the nation’s hog herd shrank by 25.5% year-on-year due to the impact of African swine fever.
— The Hanoitimes

Vietnam posts lowest CPI growth in 3 years
The consumer price index (CPI) of Vietnam, which measures changes in the prices paid by consumers for a basket of goods and services, rose 2.79 percent in 2019, the lowest level over the past three years, the country’s General Statistics Office said Thursday.
— Xinhua

Vietnam extends visa exemption for tourists from eight countries
In a clear move to guarantee the goals of the sector, the Vietnam National Administration of Tourism (VNAT) confirmed this Wednesday that until the end of 2022, vacationers from eight countries will continue to be exempt from visas.
— Plenglish

Vietnam most promising Asian investment destination in 2020: survey
Vietnam has been tapped by Japanese firms as the most promising place in Asia to invest in 2020, with India and Southeast Asian countries dominating other top spots, a survey showed Wednesday.
— Kyodonews

Phones, components led Vietnamese export items in 2019
Phones and components top Vietnam’s export revenue in 2019, with value of 51.8 billion U.S. dollars, posting a year-on-year increase of 5.3 percent and accounting for 19.7 percent of Vietnam’s total export revenue, according to the country’s General Statistics Office on Wednesday.
— Vietnam Insider

Việt Nam needs to change policy or lose out in Industry 4.0
Việt Nam needs a “revolution in its policy-making mind-set” before it can take advantage of the fourth industrial revolution, said Phạm Xuân Hòe from the Banking Strategy Institute, at a forum in Hà Nội yesterday.
— Viet Nam News

Vietnam Railways struggles to compete with budget carriers
The Vietnam Railways Corporation (VNR) has admitted its inability to meet performance targets because of competition from low-cost airlines.
— VnExpress

US Development Finance eyes to invest in Vietnamese enterprises
US Development Finance Corporation is committed to investing in Vietnam, particularly in energy, healthcare and infrastructure development.
— The Hanoitimes

Vietnam Real Estate Market is Driven by Companies Migrating away from China
Vietnam Real Estate Market is Driven by the Rising Demand for Retail and Office Spaces from Companies Migrating away from China, the Government’s Pro Real Estate Policies and Rise of Vietnam as a Popular Tourist Destination – Ken Research reported.
— Vietnam Insider

New opportunities for Vietnamese fruits and vegetables
During this time in previous years, enterprises were promoting exports to China to meet increasing demand by the year’s end, however this year, many enterprises have chosen to export to other markets.
— Fresh Plaza

Three policemen killed in clash with protesters in Vietnam
Three policemen were among at least four people killed in Vietnam on Thursday when protesters attacked soldiers building a wall near a military airport, the Ministry of Public Security said.
— Reuters

Saigon Has 13 New Air Quality Monitors, Mostly at Public Schools
They will provide residents with more accurate air quality readings across the city.
— Saigoneer

Welsh ministers accused of ‘cosying-up’ to Vietnam over education links
A Welsh minister has defended her government’s work with Vietnam after a Conservative assembly member accused it of “cosying-up” with the communist country.
— BBC

Vietnam’s Pivotal Month as Leader of the Security Council and of Asean for 2020
With tensions becoming more and more serious in the Middle East and with two crucial leadership roles to play internationally, diplomats in Hanoi are probably working hard to make sure Vietnam’s big diplomatic month of January is a success.
— Passblue

Domestic dairy: Vietnam pumps up milk production as it seeks to reduce reliance on imports
Vietnam’s dairy industry has set a target of producing one billion litres of fresh milk this year, which will meet 38% of the domestic demand, while local firms are increasingly tapping into regional export opportunities.
— Food Navigator

Vietnam named most promising Asian investment destination in 2020 for Japanese firms
Vietnam’s potential as a growing market, large supply of skilled and low-cost labor are key factors attractive to Japanese firms.
— The Hanoitimes

Bars in Vietnam offer drinkers a ride home
Bars in Vietnam have come up with a creative way to get patrons home safely since tough new drink-driving laws came in over the New Year.
— Vietnam Insider

Insurance industry forecast to keep thriving in 2020
The insurance industry aims to maintain a high growth rate of 18.42 per cent this year, gaining revenue of VNĐ188.73 trillion (US$8.1 billion), according to the Ministry of Finance’s Insurance Supervisory Authority (ISA).
— Viet Nam News

Former HCM City Party chief to be disciplined for wrongdoing at Thu Thiem project
Le Thanh Hai is believed to floute working regulations and show a lack of responsibility, slack leadership, and poor inspections in the construction of the Thu Thiem New Urban Area project.
— The Hanoitimes

Complying with origin rules critical for garment exports
Lower-than-expected export revenue last year showed the industry was facing problems in participating more deeply in the global value chain and expanding exports to niche markets.
— Viet Nam News

New drunk driving fines to slow beer market growth
With new drunk driving laws doubling fines and revoking driving licenses for up to two years, beer sales in Vietnam are expected to take a hit.
— VnExpress

Mobile Money waits for legal corridor to become formal payment method in Vietnam
Mobile Money refers to the use of a mobile account for payment in general. This method is gradually more feasible now that 90 percent of the population in Vietnam own a mobile phone.
— Sggp News

HDBank achieves great success after 30 years of development: banking official
The HCM City Development Joint Stock Commercial Bank, formally known as HDBank, has achieved great success after 30 years of development, contributing to the city’s socio-economic development, a banking official has said.
— Viet Nam News

Vietnam always supports US investors: Party official
At a reception in Hanoi on January 8 for Adam Boehler, first CEO of the US International Development Finance Corporation (DFC), head of the Economic Commission of the Party Central Committee Nguyen Van Binh affirmed that Vietnam always supports and facilitates the investment by US firms in general and the DFC in particular.
— NDO

HCM City banks to ensure ATMs cope with extra demand during Tết
The State Bank of Vietnam’s HCM City office has taken measures to ensure workers get their salaries and bonuses paid smoothly before Tết (the Lunar New Year) and ATMs work without a hitch during the holidays, which begin on January 24.
— Viet Nam News

PVN records revenue of $31.7b in 2019
The Việt Nam Oil and Gas Group (PVN) earned revenue of more than VNĐ736 trillion (US$31.7 billion) in 2019, marking a year-on-year increase of 17 per cent.
— Viet Nam News

Online exchange market for new notes gets busy before Tết
Though the State Bank has not prepared new notes for local banks, the exchange market for much-coveted new notes has become very busy in recent days.
— Viet Nam News

Bamboo Airways soars to $13 million profit
Bamboo Airways reported pre-tax profit of VND303 billion ($13 million) in 2019 after one year of flying.
— VnExpress

South Korean persimmons off to Vietnam again
South Korea’s Ministry of Agriculture, Food and Rural Affairs has announced it will resume exporting persimmons to Vietnam after agreeing to quarantine regulations.
— Fruitnet

Winners to take it all in e-wallet fight
An economics expert has said e-wallet firms are breaking out promotions to try and win large chunks of the high potential market in Viet Nam.
— Viet Nam News

HOSE lists 10 largest securities companies
The Ho Chi Minh Stock Exchange (HOSE) has announced the list of 10 leading securities companies last year, with SSI Securities Incorporation topping it with a 13.96 per cent market share.
— Viet Nam News

Shares retreat as US-Iran conflict hits sentiment
Việt Nam’s stock market fell on Wednesday in line with global markets on increasing investor caution over conflict between the US and Iran.
— Viet Nam News

Poor infrastructure stymies Southern Key Economic Zone efforts to attract large FDI projects
The Southern Key Economic Zone needs specially tailored policies to attract large amounts of foreign direct investment and improve linkages between localities to ensure sustainable development, experts have said.
— Viet Nam News

Is Vietnam the new golden child of tech startups in SEA?
Vietnam is one of the most densely populated countries in Asia, with 95.5 million residents living in the country, according to the statistics from 2018.
— e27

Luxury hotel segment sees sharp expansion
With 50 five-star hotels and 68 four-star hotels being built last year, the luxury segment now has 466 hotels with 97,098 rooms, according to a report released by the Việt Nam National Administration of Tourism.
— Viet Nam News

HUD, Vicem to be equitised in 2020
The Housing and Urban Development Corporation and the Vietnam National Cement Corporation will have to complete equitisation plans in 2020.
— Viet Nam News

EVN continues buying power from rooftop solar projects
The Ministry of Industry and Trade has approved Vietnam Electricity (EVN)’s proposal to continue buying power from rooftop solar power projects.
— Viet Nam News

CII settles $40 million worth of convertible bonds
The HCM City Infrastructure Investment JSC (CII) has settled nearly VNĐ903 billion (US$40 million) worth of convertible bonds.
— Viet Nam News

Large-cap companies end 2019 lower from their debuts
Three large-cap companies that debuted on the Ho Chí Minh Stock Exchange (HoSE) in 2019 saw their shares beaten by the benchmark VN-Index at the end of the year.
— Viet Nam News

Khánh Hòa aims to have 30,000 private businesses by 2025
Authorities in the province of Khánh Hòa plan to improve the quality and performance of businesses in the private sector, striving to have 30,000 businesses by 2025 and 35,000 by 2030.
— Viet Nam News

30 Vietnamese companies sells goods on Amazon in 2019
Thirty Vietnamese enterprises have sold goods on Amazon, reported the Việt Nam Trade Promotion Agency (Vietrade).
— Viet Nam News

More restructuring for fund management firms in 2020: SSC
Fund management companies will get further restructured in 2020, according to vice chairman of the State Securities Commission Phạm Hang Sơn.
— Viet Nam News

The second centralised IT Zone set up in Đà Nẵng
The Government has approved the Đà Nẵng Information Technology Park (DITP) as a centralised information technology (CIT) zone following Prime Minister Nguyen Xuân Phúc’s decision signed on January 6.
— Viet Nam News

Việt Nam’s GDP to ease slightly in 2020
Việt Nam’s GDP growth would reach 6.8 per cent from the 7.02 per cent posted in 2019, mainly due to a slowdown in the industrial sector, analysts from Fitch Solutions forecast.
— Viet Nam News

Firms urged to monitor exports to China
The Import and Export Department under the Ministry of Industry and Trade urged firms to closely watch exports of agricultural products to China to prevent goods getting stuck at border gates before and after the Tết (Lunar New Year) holiday.
— Viet Nam News

UNIQLO to open first store in Hà Nội this spring
The first UNIQLO store in Hà Nội will be located at Vincom Phạm Ngọc Thạch in Đang Đa District.
— Viet Nam News

Feature photo u/yunie_c

This week’s Vietnam morning news feature photo focus on street food throughout Asean.

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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