Vietnam Morning News For March 20, 2020

Vietnam Military Increasing Isolation Housing to 60,000 Beds
Vietnam’s military is expanding its quarantine facilities to house about 60,000 people by adding as many as 20,000 beds as thousands of Vietnamese return home from virus-hit countries, the government said on its website.
— Bloomberg

Vietnam shutters borders with Cambodia as pandemic spreads
The Vietnamese government on Sunday locked down its borders with the Kingdom and imposed a month-long entry ban for any foreign traveler – except accredited diplomats – as the country adopts measures to contain the spread of the coronavirus.
— Khmer Times

MoIT issues requirements for consultants of SMEs
The Ministry of Industry and Trade (MoIT) issued requirements for individuals and organisations who wish to join the network of consultants for small and medium-sized enterprises (SMEs).
— Viet Nam News

Việt Nam jumps 23 places in economic freedom index
Việt Nam jumped 23 places from last year to reach 58.8 points, ranking 105th place in the economic freedom index this year.
— Viet Nam News

ASEAN Summit in Vietnam Postponed Until end-June Over Coronavirus
A summit of Southeast Asian and other international leaders scheduled in Vietnam early next month has been postponed until end-June due to worries about coronavirus, Vietnam’s Ministry of Foreign Affairs said on Thursday.
— VOA News

Vietnam health ministry reports rise in coronavirus cases to 85
Vietnam’s health ministry reported an additional nine coronavirus cases on Friday, bringing the total number in the Southeast Asian country to 85.
— Reuters

Vietnam’s Vietjet Air suspends ASEAN flights as coronavirus concerns escalate
Budget airline Vietjet Air said on Tuesday it will suspend its flights to major Southeast Asian destinations from Friday due to the coronavirus.
— The Jakarta Post

How to Operate Your Vietnam Business Remotely During COVID-19
The COVID-19 outbreak has triggered the world’s largest ever work-from-home experiment as businesses are called to consider how to effectively utilize their employees while also minimizing physical contact.
— Vietnam-Briefing

Samsung Galaxy faces delays on Vietnam entry limit
Samsung Electronics has been hit hard by Vietnam’s restrictions on travel from South Korea, fueling concerns that production of the latest Galaxy Note smartphones will fall behind schedule in the technology giant’s biggest manufacturing hub outside its home country.
— Nikkei Asian Review (paywall)

Popping up: Vietnam’s growing appetite for snacks presents opportunity for Nestle’s Air Popcorn
Nestle Vietnam has entered the popcorn category with its new Air Popcorn products targeted at the growing number of younger consumers who snack.
— Food Navigator

Vietnam to crack down on discrimination against foreigners to protect tourism image
The government is worried about the increasing discrimination against foreigners by tourism establishments because of coronavirus fears and asked for a crackdown on it.
— VnExpress

Vietnam’s capital advises people to stay home in coronavirus fight
Vietnam’s capital, Hanoi, has advised its residents to self-isolate at home until at least the end of March, after Vietnam recorded the biggest daily increase of the coronavirus, the city’s ruling body said on Thursday.
— The Star Online

Vietnam Jails Two Hmong Men For Life in Alleged Campaign to Set up Separate Ethnic State
A Vietnamese court sentenced two Hmong ethnic minority men to life in prison Wednesday for attempting to overthrow the state and establish a separate state in a rural district of northwestern Vietnam, state media and local police reported.
— Radio Free Asia

China Remains Unfazed by Warming US-Vietnam Security Ties
U.S.-Vietnam ties continue to advance, and Beijing doesn’t seem too concerned.
— The Diplomat

KTG Industrial starts construction of Nhơn Trạch 3B Industrial Centre phase 2
KTG Industrial, a subsidiary of the KTG Group focusing on industrial development, on March 17 broke ground for the construction of Nhơn Trạch 3B Industrial Centre phase 2 project at the Nhơn Trạch 3 Industrial Zone in Đang Nai Province.
— Viet Nam News

Washington couple barred from entering Vietnam as coronavirus lockdown imposed during their flight
A couple’s dream trip to Vietnam became a nightmare when the country was closed to visitors over the coronavirus crisis – while their flight was in the air.
— Sunderlandecho

Hitron accelerating construction of new plant in Vietnam
Networking device maker Hitron Technologies will accelerate from mid-April the construction of its new plant in Vietnam looking to complete trial operations and kick of volume production there in the second quarter or third quarter 2020, according to company sources.
— Digit Times

Vietnam’s state energy firm Petrovietnam says considers stockpiling oil amid low prices
Vietnam Oil and Gas Group, or PetroVietnam, said on Wednesday it is considering stockpiling crude oil amid low prices, while exploring measures to cope with the impact of the coronavirus.
— Reuters

Vietcombank to make $256 mln bond issuance
Lender Vietcombank is set to issue VND6 trillion ($256 million) worth of bonds this year to fund operations.
— VnExpress

MoIT issues requirements for consultants of SMEs
The Ministry of Industry and Trade (MoIT) issued requirements for individuals and organisations who wish to join the network of consultants for small and medium-sized enterprises (SMEs).
— Viet Nam News

Key export products of Vietnam compatible with import demand of Sweden
According to the Vietnam Trade Office in Sweden, the import-export turnover between Vietnam and Sweden was merely at around US$1.4 billion last year; the export market share of Vietnam accounted for about 0.2 percent of total imports of Sweden.
— Sggp News

NA Standing Committee’s 43rd session to open on March 23
The 43rd meeting of the National Assembly Standing Committee (NASC) is scheduled to open in Hanoi on the morning of March 23 and will conclude two days later, with NASC members to consider and discuss a number of important draft laws.
— NDO

Vietnam Airlines suspends flights between Viet Nam and Russia, Taiwan
The national carrier Vietnam Airlines suspended flights between Việt Nam and Russia and China’s Taiwan from March 19 due to the evolving situation of COVID-19 pandemic and the policy of restricting entry among countries.
— Viet Nam News

Skewed allocation mars Vietnam mask supply
Amid a surge in supply, locally produced face masks remain scarce across Vietnam due to distribution challenges.
— VnExpress

Finance ministry to reduce some securities service fees
The Ministry of Finance has approved a plan to reduce the fees for some types of securities-related services this week to support market members and investors badly impacted by the COVID-19 pandemic.
— Viet Nam News

Vietnamese products to join forces with large retailers, e-commerce platforms
As the outbreak of the novel coronavirus (COVID-19) has become a global pandemic, Vietnamese firms must find an alternative to export their products as countries around the world tighten regulations to monitor trade flow.
— Viet Nam News

Banking sector to support businesses in trying times
On Tuesday, commercial banks slashed interest rates in a coordinated effort to support businesses and customers who were affected by the novel coronavirus (COVID-19) outbreak. Director General of the Monetary Policy Department under the State Bank of Vietnam (SBV) Phạm Thanh Hà discussed the details of this plan.
— Viet Nam News

VN stocks head up amid strong foreign selling
Vietnamese shares struggled to stay positive on Wednesday despite the prolonged foreign capital outflow amid worries about the coronavirus pandemic.
— Viet Nam News

Meet 4 VCs who are early adopters of e27 Pro
We have always kept our focus on our mission of empowering entrepreneurs with the tools to build and grow their companies. A couple of months ago, we began building a platform that we envision to do just that. When we quietly launched e27 Pro, our community has been most supportive; offering encouragement and feedback that […]
— e27

Pandemic causes companies to delay annual general meetings
The outbreak of COVID-19 has caused a number of large enterprises to postpone their arrangements for the annual general meeting of shareholders (AGMs) in 2020.
— Viet Nam News

HDBank joins fight against Covid-19
Fifteen banks and a finance company have donated VNĐ140 billion (US$8.5 million) to support the fight against the Covid-19 pandemic and help people suffering from drought and saltwater intrusion in rivers around the country.
— Viet Nam News

Aviation industry asks for tax break due to COVID-19
The Ministry of Transport has proposed Prime Minister Nguyen Xuân Phúc cut several taxes and service prices for the aviation industry, which is being heavily affected by the COVID-19 pandemic.
— Viet Nam News

ABBANK launches promotion for Visa contactless cards
An Bình Commercial Joint Stock Bank (ABBANK) has launched the Cashless payment – Instant cash back promotion programme for its Visa contactless cardholders.
— Viet Nam News

LienVietPostBank raises its charter capital to nearly VNĐ10 trillion
LienVietPostBank has raised its charter capital from more than VNĐ8.88 trillion (US$383.8 million) to nearly VNĐ9.77 trillion.
— Viet Nam News

No significant impact of EU’s border closure on goods circulation: official
The European Union (EU)’s lockdown of its borders to the stop the spread of the novel coronavirus (COVID-19) pandemic had not yet had a significant impact on goods circulation, an official from the Ministry of Industry and Trade said to Việt Nam News Agency.
— Viet Nam News

US becomes top importer of Vietnamese tra fish in February
The US surpassed China to become the biggest importer of Vietnamese tra fish in February, according to the Vietnam Association of Seafood Exporters and Producers (VASEP).
— NDO

Ministry makes int’l accounting rules compulsory after 2025
The Ministry of Finance has issued a decision regulating the roadmap for the application of International Financial Reporting Standards (IFRS), replacing the current Vietnamese accounting standards (VAS).
— NDO

Viettel rolls out nationwide 5G-ready timing solution with ADVA and NEC
ADVA (FSE: ADV) and NEC Corporation (NEC; TSE: 6701) today announced that Viettel, a global telecommunications service provider based in Vietnam, has deployed ADVA’s Oscilloquartz timing solution throughout Laos and Myanmar to provide nationwide 4G services and prepare its synchronization network for 5G.
— Business Wire

PVN estimates billions of dollars in lost revenue as oil prices crash
Petrovietnam estimated a loss worth up to US$3 billion in revenue this year if crude oil prices remained at rock-bottom levels of $30-35 per barrel as in recent days.
— Viet Nam News

Saigonese spend more on food online than Hanoians: survey
The total number of daily online food orders in Ho Chi Minh City is six times that in Hanoi as of 2019, according to a recent survey.
— VnExpress

Ministry eases land issues to boost SOEs’ equitisation
As issues related to land use rights still hinder State-owned enterprises from executing equitisation on time, the finance ministry has built a draft to amend the current decree regulating land issues.
— Viet Nam News

HCM City to host telecom, communications, film, and TV technologies expos
The International Exhibition of Products, Telecommunications Services, Information Technology and Communications (ICT Comm) and the International Exhibition of Film and Television Technology (TELEFILM 2020) will be held together in HCM City in September.
— Viet Nam News

Gold prices and US rates go up in the market
Global and local gold prices increased on March 18 when the forex rate of US notes went up at most local banks.
— Viet Nam News

Feature photo Ontario Energy Group

This week’s Vietnam morning news feature photo focus on World Water Day, March 22

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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