Vietnam Morning News For June 11, 2020

Vietnam seeks to raise about $50 mln in power plant stake sale
Vietnam is seeking to raise around $50 million by selling a 9% stake in Haiphong Thermal Power via an auction on June 18, the government said on Wednesday.
— Reuters

How Vietnam’s authoritarian government succeeded at containing COVID-19
The coronavirus pandemic is continuing to spread across much of the world, but one country that set out to defeat it has apparently succeeded: Vietnam.
— PBS

Vietnam Arrests Khmer Krom Family Over Land Dispute Clash
Vietnamese authorities in Kien Giang province have arrested a Khmer Krom minority family of six for their involvement in a violent confrontation during a forced eviction last month, relatives told RFA Tuesday.
— Radio Free Asia

In Vietnam, British pilot Stephen Cameron making ‘miraculous recovery’ from coronavirus, reports say
A British pilot who has been in hospital in Vietnam since contracting the novel coronavirus in March has made an “miraculous recovery”, according to local media reports.
— South China Morning Post

Vietnam adds Taiwan to list of ‘safe countries’ for international flights
As the Wuhan coronavirus (COVID-19) outbreak slows in Vietnam, its state-run media on Tuesday (June 9) announced that the government is planning on resuming international flights to countries that have not reported confirmed cases in 30 days, with Taiwan among the list of considered destinations.
— TaiwanNews

Vietnam-EU FTA will impact India, say exporters and trade experts
The FTA was ratified on June 8 and will ensure zero duty trade on 99 percent of products Reuters reported.
— CNBCTV 18

Ministry of Health refutes ‘false’ Vietnam virus reports
Minister of Health Mam Bun Heng on Wednesday criticised Vietnam for its claims based on a local news report that a Vietnamese youth who tested positive for Covid-19 had come from Cambodia.
— The Phnom Penh Post

Vietnam promotes catfish at home as virus slashes exports
The Ministry of Agriculture and Rural Development (MARD) held an event on June 9 to promote shark catfish among domestic consumers as exports to major markets have fallen sharply due to the coronavirus pandemic.
— NDO

Sungrow Forges a 100 MW Distribution Agreement with DAT in Vietnam
ungrow, the global leading inverter solution supplier for renewables, announced that a 100 MW distribution agreement was forged with a reputed Vietnam-based company DAT Technology Co., Ltd. to supply PV inverter solutions for commercial & industrial (C&I) installations across Vietnam within a year.
— Yahoo News

Chinese loan sharks infest Vietnam credit waters
Vietnamese police are investigating a rising number of foreign loan sharks, mostly Chinese, targeting low-income workers in urgent need of money.
— VnExpress

VN goes 55 days without new COVID-19 community infection
VGP – Viet Nam has gone 55 consecutive days without any new COVID-19 infection case in the community found, according to the National Steering Committee for COVID-19 Prevention and Control on June 10.
— VGP Ministerial Activities

COVID-19 recovery rate improves to 95.48%
VGP – The recovery rate of COVID-19 patients in Viet Nam improved to 95.48 as of Tuesday afternoon, according to the National Steering Committee for COVID-19 Prevention and Control.
— VGP Ministerial Activities

Vietnam’s F88 raises US$6M in funding to expand its loan lending platform
Hanoi-based financial services platform F88 has raised US$6 million in funding, according to a DealStreet Asia report.
— e27

Hà Tĩnh approves $695 million wind power plant
The People’s Committee of the central province of Hà Tĩnh has approved a wind power project with a total investment of VNĐ16.2 trillion (US$695.3 million).
— Viet Nam News

Finance ministry wants to cut 30 per cent of environment protection tax on jet fuel
The Ministry of Finance has proposed to cut environmental protection tax on jet fuel by 30 per cent, from VNĐ3,000 to VNĐ2,100 per litre.
— Viet Nam News

Prudential Vietnam names new CEO
Phương Tiến Minh has been appointed CEO of Prudential Vietnam Assurance Private Ltd to succeed Clive Baker.
— Viet Nam News

Review Lee’s Vietnam Pic Is The Right Movie For Right Now
Good news: there’s no expensive “de-aging” process used in “Da 5 Bloods,” Spike Lee’s absorbing, brash, exhausting, urgent, sometimes brilliant and sometimes unapologetically messy new film about four black Vietnam vets who return to the battlefield site for reasons … well, we’ll get to the reasons.
— My Motherlode

Banks upbeat about charter capital hike in 2020
Banks, especially State-owned banks, are expected to increase their capital significantly this year as they are allowed to retain profits or pay dividend in shares instead of cash as previously.
— Viet Nam News

Two projects worth $215 million granted in Hà Nam
The People’s Committee of the northern province of Hà Nam province said that it had granted a decision on investment guidelines for two projects, worth nearly VNĐ5 trillion (US$214.6 million)
— Viet Nam News

COVID-19 to create an M&A wave in Việt Nam
Weak financial stability and a lack of capital are forcing many businesses to seek M&A deals amid the COVID-19 pandemic.
— Viet Nam News

North-South Highway project to use public investment
Explaining the shift in policy, Minister of Transport Nguyen Văn Thể cited great difficulties to secure the needed investment as banks were tightening their purse for long-term loans in a post-COVID-19 financial market.
— Viet Nam News

HCM City sees big decrease in street flooding
The anti-flooding works carried out in HCM City since 2008 have helped reduce the number of streets that are flooded during moderate to heavy rainfall, according to the city Department of Construction.
— Viet Nam Net

VN stocks off from 3-month high, dragged by banks and retailers
Vietnamese shares gave up gains, sliding from a three-month high on Tuesday, as banks and retailers declined
— Viet Nam News

KIDO Group ties up with Vinamilk to explore beverage market
Food producer KIDO Group announced on Tuesday it is entering the beverage industry by setting up a joint venture with dairy giant Vinamilk.
— Viet Nam News

More Vietnamese use livestream, says e-commerce company
Vietnamese consumers, across ages, are tending to use livestream as a way to connect with sellers and gather information about products while shopping from home, e-commerce giant Shopee said in a report.
— Viet Nam News

Saigon Co.op promotes consumption of green products
Besides collaborating with a number of brands to offer discounts on many products to help sell them and to reduce spending pressure on consumers after the Covid-19 outbreak, Saigon Co.op is also undertaking many activities to promote consumption of environment-friendly products.
— Viet Nam News

Deputies, experts, businesses on EVFTA approval
National Assembly deputies ratified the Europe-Vietnam Free Trade Agreement (EVFTA) and the Europe-Vietnam Investment Protection Agreement (EVIPA) on Monday morning. Vietnam News Agency spoke to various officials about the EVFTA’s implementation as well as opportunities and challenges facing Việt Nam on the way to better access to the European market.
— Viet Nam News

Property firms return to market after Covid-19
After a brief hiatus, property companies have been resuming sales of developments and revealing their post-Covid-19 business plans since the beginning of May.
— Viet Nam News

Pig breeding firms report surge in profit
Many large pig breeding firms in the country have reported a surge in profits in the first months of the year thanks to high prices due to a supply shortage.
— Viet Nam News

New traders flock to market
Of the new 100,000 accounts, 31,900 were opened in March and 36,700 were opened in April.
— Viet Nam News

PVOIL targets profit up 8 per cent this year
The information was released at the annual general meeting of shareholders held on Monday in HCM City.
— Viet Nam News

Two more cases cleared of COVID-19, total recovered patients rise to 319
VGP – Two more COVID-19 infection cases have been cleared of the virus, raising the total recovered patients to 319, the National Hospital for Tropical Diseases said on early June 10.
— VGP Ministerial Activities

Merger to be discussed at shareholder’s meeting: Haraco
Details on a plan to merge the Hanoi Railway Transport JSC (Haraco) and the southern Saigon Railway Transport JSC (Saratrans) will to be discussed Haraco shareholders meeting next week, according to a letter from its board of directors.
— Viet Nam News

Feature photo ILO Asia-Pacific
This week’s Vietnam morning news feature photo focus on World Day Against Child Labour, June 12.

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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