Vietnam Morning News For January 24, 2020

ADB agrees financing package for 50-MW solar project in Vietnam
The Asian Development Bank (ADB) has inked a USD-37.8-million (EUR 34.1m) deal to support the development and construction of a 50-MW solar photovoltaic (PV) park in Vietnam.
— Renewables Now

Vietnam confirms first acute pneumonia cases in Saigon
Two Chinese nationals were quarantined at a Saigon hospital Thursday after they tested positive for the pneumonia virus originating in Wuhan, China.
— VnExpress

3 Insights into 2020 Prospect of Vietnam’s E-commerce
2019 was a year of many surprises for the Vietnamese e-commerce sector: new ambitious players joining the heated competition, previously formidable companies abruptly leaving the market, and strong positive movements from the big brands.
— Vietnam Insider

Vietnam aims at US$ 5 billion in fruit & vegetable exports in 2020
According to a spokesperson from the Vietnam Fruit and Vegetable Association (VINAFRUIT), the fruit and vegetable sector aims to gross $5 billion from exports this year on the back of new-generation free trade agreements.
— Fresh Plaza

Vietnam’s banks to complete shift to chip cards in 2 years
Vietnam’s banks started replacing magnetic cards with chip cards some years ago, but the process has been going slowly.
— Vietnam Insider

Vietnam grants investment decision to US$4-billion LNG project
This is the biggest foreign direct investment project in the Mekong Delta so far, scheduled to become fully operational by the end of 2027.
— The Hanoitimes

New solar power prices not incentive enough: Finance Ministry
Newly proposed feed-in-tariffs (FIT) much less than earlier incentive rates might be too low to encourage solar power investments, the ministry says.
— VnExpress

Vietnam to build maritime militias in 14 coastal provinces
This kind of military force will be entrusted two missions namely sovereignty protection and economic development.
— The Hanoitimes

EU-Vietnam free trade deal gets green light in trade committee
The Committee on International Trade backed the free trade and investment protection agreements between the EU and Vietnam on Tuesday.
— Fresh Plaza

Construction begins on flagship 48 MW wind farm in Vietnam
Climate Fund Managers (CFM), the manager of the Climate Investor One facility (CI1), is pleased to announce that construction has begun on one of its flagship projects, a 48 MW near-shore wind farm in Tra Vinh province, Vietnam.
— Power engineering int

Vietnam placed 31st in global power ranking
High scores in military strength has given Vietnam 31st place in a 2020 global power ranking of 73 economies.
— VnExpress

No Case Of New Coronavirus Detected In Vietnam
Two Chinese people from Wuhan City who were in Vietnam were tested negative to the virus. They were discharged from hospital and returned to their country, the department said.
— Vietnam Insider

Techcombank posts double digit growth in profits
Techcombank has reported a 20 percent year-on-year surge in 2019 consolidated pretax profits to more than VND12.8 trillion ($552.8 million).
— VnExpress

Banking systems experience intense Tet surge
Banks, ATMs, and online banking systems have been overloaded towards the end of the Lunar New Year, forcing customers to wait long hours.
— VnExpress

Vietnam’s Mobile Payments Landscape Sees Strong Developments
Vietnam’s mobile payments landscape has continued to evolve on the back of strong growth and expansion coming from industry players, investment deals, and efforts by the government to establish a favorable environment for the industry to thrive.
— Fintech News

Austal secures $15.5m ferry work for Vietnam
Henderson-based shipbuilder Austal has picked up more work for its Vietnam operations with a $15.5 million contract for a 41m, high-speed catamaran.
— The West

Vietnam to rebuild defunct palace and first writing school
The central province has commenced construction on a memorial park in honour of the Thanh Chiêm Palace – the first school of Vietnamese romanised script – in Điện Bàn town.
— The Star Online

How the Vietnam War Shaped U.S. Immigration Policy
The makings of our modern resettlement system can be traced back to the fallout of the Vietnam War, a cascade of international crises stoked by the U.S.
— jstor

Greek products offered great trade deal with Vietnam under new EU Agreement
Greece will enjoy a new trade arrangement with Vietnam which will see the removal of customs duties, non- tariff barriers and geographical indicator protections on the majority of its exported products, greekcitytimes.com reports.
— Tornos News

EU lawmakers give initial backing to Vietnam trade deal
EU lawmakers gave initial backing on Tuesday for a free trade agreement struck with Vietnam, the bloc’s most comprehensive such pact with a developing country and a sign that Europe has an appetite for a more expansive trade policy.
— Hellenic Shipping News

Vietnam’s all-women mine clearance teams work to remove legacy of war
Inching across a field littered with war-era landmines, a team of women in the central Vietnamnese province of Quang Tri work to clear unexploded ordnance. Their efforts are helping to remove a deadly legacy of the Vietnam war that has killed tens of thousands of people since the conflict ended in 1975.
— South China Morning Post

Local markets in central Vietnam, a magnet for foodies
Located in the centre of Da Nang city, the three-storey market faces Quang Trung and Ong Ich Khiem streets and is easy to find. It’s open from 6am till around 7.30pm.
— VietnamPlus

Hundreds of millions of USD await to enter Vietnam’s realty market
The Vietnamese real estate market at all segments continues showing its appeal to foreign investors, and hundreds of millions of USD are waiting to be poured into the market, according to a research conducted by property and investment management services firm Jones Lang LaSalle (JLL).
— VietnamPlus

Đang Nai pulls the plug on 531 tardy foreign projects
The southern province of Đang Nai last year scrapped the licences it had issued for 531 proposed foreign projects due to slow progress.
— Viet Nam News

Remittances to Việt Nam through banks grow by 12 per cent in 2019
Remittances into Việt Nam in 2019 exceed US$2.5 billion, up by 12 per cent compared with the previous year.
— Viet Nam News

WEF wants to speed up Industry 4.0 Center project in Vietnam
The center would be among the WEF’s global network of Industry 4.0 centers.
— The Hanoitimes

Twelve SOEs have losses in 2019: report
The Ministry of Finance has revealed that twelve of 136 wholly state-owned enterprises had posted losses of VNĐ720 billion (US$30.9 million) in the first half of last year, and six others faced warnings regarding financial security.
— Viet Nam News

Vietnam says only 20% of country’s asset managers make profits
Only one in five fund managers in Vietnam yields profits, the country’s State Securities Commission (SSC) said. Pham Hong Son, SSC vice-chairman, said the industry’s assets under management expanded 20% to USD13.4bn in 2019, but that only ten out of the country’s 47 fund managers are making a profit and expanding in the market.
— Asia First

Japanese fashion giants see new frontier in Vietnam
Japanese fashion brands are swooping into Vietnam as local consumers become more brand-sensitive as they grow prosperous.
— Vietnam Insider

Vietnam goes up on innovative economy index
Vietnam has moved up on the Bloomberg Innovation Index of the world’s 60 most innovative economies, but lags far behind Asian peers.
— VnExpress

Japanese firms increase investments in advanced technologies in Việt Nam
Japanese investment in Việt Nam has strongly developed in both quality and quantity as investors are applying the most advanced technologies in production, experts have said.
— Viet Nam News

Viet Capital Bank unveils excellent 2019 results
Viet Capital Bank met most of its business targets in 2019, with pre-tax profits rising by 36 per cent.
— Viet Nam News

Iran plans to promote investments in Vietnam
The move is intended for Iranian businessmen and traders to become acquainted with the business potential of Vietnam and having more vigorous presence in this market.
— The Hanoitimes

Tết specialities from all over the country available in HCM City
Specialities from all parts of the country are being transported to HCM City ahead of Tết (the Lunar New Year).
— Viet Nam News

Banks stocks propel market
Shares made good gains on Tuesday thanks to the push from banking stocks.
— Viet Nam News

SSI shrugs off market volatility to achieve targets
SSI Securities Corporation achieved consolidated revenues of VNĐ3.3 trillion (US$142.8 million) last year, or 112 per cent of the target it had set, and its pre-tax profit target of VNĐ1.01 trillion ($43.7 million).
— Viet Nam News

Brokerages appoint new CEOs to boost performance
Securities firms are shaking up their leadership ranks at the beginning of the year as they want to lift performance amid fiercer market competition.
— Viet Nam News

High demand for rare fruits in Mekong Delta
In the Cửu Long (Mekong) Delta, traders and consumers scour for unique fruits such as purple longan, red-flesh orange and jabuticaba and do not mind paying high prices for them.
— Viet Nam News

Feature photo Vietnam Tourism Portal

This week’s Vietnam morning news feature photo focus on Vietnamese (Lunar) New Year, January 25.

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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