Vietnam Morning News For January 9, 2020

Vietnam’s steel industry went through a stormy year in 2019
Vietnam’s steel industry went through a stormy year last year as imported products flooded into the country while both domestic consumption and export of steel declined heavily.
— Vietnam Insider

Vietnamese citizens increasingly concerned about corruption: Survey
Surveyed people indicate the government’s anti-corruption efforts are increasingly effective.
— The Hanoitimes

Vietnam Shipbuilding Capabilities in the Headlines With Patrol Vessel Deliveries to Nigeria
The developments highlight Hanoi’s ongoing ambitions to increase the global reach of its shipbuilding capabilities.
— The Diplomat

Vietnam misses 2019 seafood export target of USD 10.5 billion
Once again, Vietnam has failed to deliver on its seafood export value goal, as sales of key commodities including shrimp and pangasius, were lower than previously expected in 2019.
— Seafoodsource

182 rice traders certified as eligible for rice exports
The Ministry of Industry and Trade has granted 47 certificates of eligibility to rice export businesses over the past year, lifting the number of rice exporters to 182 traders.
— Viet Nam News

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

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

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

Oman, Vietnam ports join TradeLens shipping blockchain
Today the Times of Oman revealed that the Port of Salalah has joined the TradeLens shipping blockchain.
— Ledgerinsights

Vinacomin forecasts more demand for coal
The Việt Nam National Coal – Mineral Industries Holding Corporation Limited (Vinacomin) forecasts another 10 per cent in local consumption demand this year.
— Viet Nam News

Vietnam’s economy shines in 2019 but concerns exist for 2020
Uncertainty and high risks impeded growth momentum as a consequence of geo-political confrontations and a conflict between investment liberalisation and protectionism, not to mention climate change.
— Eleven Myanmar

Vietnam to deliver patrol boats to African customers
African customers have ordered patrol boats that have been built by Vietnamese shipyards, the country’s Tuổi Trẻ newspaper reported on 2 January.
— Janes

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

Vietnam,Cambodia joint victory over Pol Pot regime was milestone
After taking control of Cambodia in April, 1975, Pol Pot’s regime conducted barbaric policies against its own nation and hatred actions against Vietnam.
— Khmer Times

PM asks statistics office to improve macro-economic analysis, forecasting
Prime Minister Nguyen Xuân Phúc asked the General Statistics Office (GSO) to improve macro-economic analysis and forecasting while addressing a conference to launch tasks for the sector this year in Hà Nội on January 6.
— Viet Nam News

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

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

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

HCMC office rent hits decade high
Prime office rent across Ho Chi Minh City in Q4 2019 experienced a decade peak amid rising demand and limited supply.
— VnExpress

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

Hanoi to trim off 10 media outlets in 2020
Hanoi’s move is in line with the government’s press reshuffle plan by 2025 with an aim to reinforce pubic trust in the society and combat fake news and disinformation.
— The Hanoitimes

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

VN needs to become low-carbon economy to serve Paris Agreement: experts
Việt Nam must continue to take concrete climate actions to become a low-carbon economy and comply with the global Paris Agreement, a workshop heard in HCM City yesterday.
— Viet Nam Net

Expand credit to prevent usury, central bank asks
The State Bank of Việt Nam has asked domestic credit institutions and foreign banks’ branches to expand credit for business, production and consumption as an effort to prevent usury.
— Viet Nam News

Easing legal conditions to boost supply in Vietnam’s condominium market
It is expected that the overall supply in the condominium market in Vietnam will slightly improve thanks to the easing of legal conditions, but the sales price growth will be lower than in 2019, according to Viet Dragon Securities Company (VDSC).
— The Hanoitimes

The business of driving drinkers home soars
The crackdown on drunk driving through a new law has sparked a boom in the business of driving drinkers home.
— Vietnam Insider

SBV keeps preferential interest rate for social housing unchanged
The commercial banks’ preferential interest rates will be remain unchanged at 5 per cent for social housing this year, according to a decision of the State Bank of Việt Nam (SBV).
— Viet Nam News

PwC, Deloitte receive ‘good’ accreditation in 2019
Two auditing firms were graded “Good” by the State Securities Commission (SSC) regarding the quality of their services in 2019, while eight others were deemed “Acceptable”.
— Viet Nam News

VRG listing plan approved
The Ho Chí Minh Stock Exchange (HoSE) has approved the listing of four billion shares for the Vietnam Rubber Group JSC (VRG).
— Viet Nam News

Medical risks and traffic accidents remain concerns for tourists in Vietnam
Vietnam has a stable political environment and no terrorism threats but medical risks and traffic accidents remain concerns for tourists.
— Vietnam Insider

Hanoi will ban traffic from five streets for flower market
Hoan Kiem District People’s Committee will hold a spring flower market and various activities at Phung Hung Street from January 9 to 24. Traffic will be banned from five streets including Hang Luoc, Hang Ruoi, a section of Hang Khoai, Hang Ma, and Phung Hung streets.
— Vietnam Insider

Cỏ May to supply pangasius fish to Saigon Food
Cỏ May Group has signed a memorandum of understanding with the Saigon Food Joint Stock Company to supply pangasius.
— 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

Rich-poor gap in Vietnam epitomised by Hanoi’s Old Quarter, where people live in poverty next to banks and boutiques
“If anyone offered me a bigger house in exchange for my leg, I would give it to them in a heartbeat,” says Vietnamese delivery man Hoang Van Xuan, a 56-year-old who lives in a tiny decrepit attic in Hanoi, in the moneyed commercial centre known as the Old Quarter.
— South China Morning Post

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

Vietnam’s KiteAir seeks 2020 launch in fast-growing aviation market
Vietnam’s Thien Minh Group is seeking to launch an airline this year, state media reported on Wednesday, making the private firm the latest entrant in one of the world’s fast-growing aviation markets.
— Nasdaq

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

TNG records sales up 26 per cent in 2019
TNG Investment and Trading JSC has announced total sales in 2019 of VNĐ4.56 trillion (US$198 million), up 26 per cent year on year.
— Viet Nam News

Former minister appeals against life sentence in TV firm acquisition scandal
Nguyen Bac Son, former Minister of Information and Communications, has appealed his life sentence, citing his age and previous service record.
— VnExpress

Gold prices slide but further growth expected
Gold prices declined on Tuesday after touching a four-month high, but the uptrend is unlikely to stop.
— Viet Nam News

Bank stocks push markets up
Shares rebounded on Tuesday, fueled by the advancement of banking stocks.
— Viet Nam News

Phú Thọ to lure investment into new IPs
Once established, the parks will open up opportunities for the province to lure new domestic and foreign investors, contributing to socio-economic development, it said.
— Viet Nam News

Procedures for starting a business to be cut this year
Việt Nam would strongly cutting the number of procedures needed to start a business this year as an effort to improve the country’s business climate.
— Viet Nam News

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