Vietnam central bank to cut policy rates Wednesday to boost growth
The State Bank of Vietnam announced a reduction in its policy rates, making a second cut in less than two months to help the economy weather the impact of the coronavirus pandemic.
— Nikkei Asian Review (paywall)
Mobile payments in Vietnam set to soar 400% in volume by 2025
One quarter of banks in Vietnam will actively pursue modern digital core platforms by 2025.
— The Hanoitimes
Prices of face masks fall steeply due to plentiful supply
More than one month ago, because of hoarders, medical face masks became scarce with some sellers overcharging them 10 times higher. Currently, with plentiful supply, the prices of face masks have started to plummet, especially the price of medical face masks has dropped by 50 percent.
— Vietnam Insider
Vietnam construction sector forecast to grow over 7% over next decade: Fitch
FDI will play a key role for the expansion of Vietnam’s industrial buildings sector, as Vietnam emerges as a global manufacturing hub, stated Fitch Solutions.
— The Hanoitimes
HCM City recovers more than VNĐ1.1 trillion in tax
HCM City Tax Department has fined a number of tax violators and managed to reclaim more than VNĐ1.1 trillion (US$51 million) for the State budget in the first four months of this year.
— Viet Nam News
Vietnam’s low-cost COVID-19 battle shows the world what can be done
Daily, a staggering quarter of a million people use the public bus network in Ho Chi Minh City, Vietnam’s largest metropolis.
— Devpolicy
How has Vietnam, a developing nation in South-East Asia, done so well to combat COVID-19?
Zero deaths. It’s an achievement amid the coronavirus pandemic that governments from the United States to Italy can only dream of.
— ABC
Vietnam’s cement exports to China drop 5% in 1Q20
China was the largest market for Vietnamese cement imports in the first quarter of 2020, importing 2.73Mt worth US$96.92m, according to the latest data from the General Department of Vietnam Customs.
— Cemnet
VFCA wants to cut trading during massive sell-off sessions
The Việt Nam Financial Consulting Association (VFCA) has recently asked for securities transactions to be suspended during massive sell-off sessions to stabilise the market.
— Viet Nam News
Vietnam is ready to ratify FTA with European Union
Vietnam is expected to ratify EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA) on May 20, official sources confirmed on Tuesday.
— Plenglish
Vietnam faces fierce competition to attract capital flight from China
With its early success in containing the Covid-19 pandemic, Vietnam is having a jump-start among potential investment destinations in attracting a new wave of FDI.
— The Hanoitimes
Action urged to speed up construction of National University on Hanoi’s outskirts
The government should work harder to arrange funding and compensation for site clearance to accelerate the construction of the Vietnam National University campus in Hoa Lac.
— The Hanoitimes
Path cleared for US sorghum exports to Vietnam
A new pest risk assessment has been approved by both the U.S. Department of Agriculture and Vietnam’s Ministry of Agriculture and Rural Development, opening the door for U.S. sorghum to flow into the country for high-value uses including pet food and liquor as well as a feed product for the aquaculture, poultry and swine industries.
— HPJ
Vietnam Digest: BravoHR raises seed funding; Viet Valley Ventures backs 3 startups
HR tech startup BravoHR has raised an undisclosed amount in seed funding from Zone Startups Vietnam and 1005 Ventures, while homegrown venture capital firm Viet Valley Ventures has invested in three technology startups.
— DealStreetAsia
Vietnam Encourages Fishermen to Defy China Ban
Vietnam’s government on Tuesday encouraged the nation’s fishermen to keep operating around the disputed Paracel Islands, despite China’s unilaterally imposed fishing ban in the South China Sea, and directed provincial authorities to support Vietnamese fishermen at sea.
— Benar News
Building inward remittances in Vietnam with blockchain
In past years, inward remittances have made remarkable contributions to Vietnam’s economic growth.
— Lexology
Vietnam provides more support to disadvantaged people across the nation
More support has continued to be provided to disadvantaged people across the nation to help ease their difficulties due to the coronavirus disease (COVID-19).
— Vietnam Insider
No new cement projects expected in Vietnam this year
Vietnam’s cement industry is not expected to see the construction of any new production lines this year, according to Nguyen Quang Cung, chairman of the Vietnam Cement Association (VNCA). Mr Cung noted that the industry is now facing oversupply, creating a challenging environment for cement firms to invest in new factories.
— Cemnet
Mobile transactions in Vietnam to soar 400% by 2025: Backcase
Mobile transactions in Vietnam are expected to surge by up to 400% by 2025, according to a Fintech and Digital Banking 2025 in Asia Pacific (APAC) report by Backbase released on May 11.
— NDO
Vietnam will repatriate nearly 300 citizens from Australia in early June
The Vietnamese Embassy in Australia has worked with relevant agencies to organise the return of approximately 300 Vietnamese citizens from Australia in early June.
— Vietnam Insider
E-commerce market develops significantly in Ho Chi Minh City
The e-commerce market in Ho Chi Minh City has developed significantly, with total online spending growth up by more than 12 percent annually since 2015, according to the municipal Department of Industry and Trade’s report on e-commerce development.
— Vietnam Insider
Hanoi steps up economic restructuring to hit growth target
Hanoi continues to encourage the business community to join the city’s efforts in restructuring the agricultural sector.
— The Hanoitimes
EU, French agency support Việt Nam’s resilience to climate change, COVID-19
“Adaptation to climate change is crucial for the sustainability of Việt Nam’s development, and water and natural resources are a key element of it,” EU Ambassador Aliberti said.
— Viet Nam Net
France to import hundreds of millions of masks from Việt Nam
France has announced it would import hundreds of millions of antibacterial cloth masks from Việt Nam by air.
— Viet Nam News
Son La exports first shipment of mangoes to China
VGP – Located in the northern province of Son La, Yen Chau district province exported its first shipment of 30 tons of mangoes, heading to to China through official channels on May 11.
— VGP Local Activities
COVID-19 sends Vietnamese shoppers online
The COVID-19 pandemic is changing the shopping habits of Vietnamese consumers, many of whom are moving online, experts said.
— Viet Nam News
Local support industry is hard to attract foreign investment moving from China
Việt Nam’s the support industry are difficult to attract foreign investment from the wave of moving production to other countries outside of China after the COVID-19, according to the Việt Nam Association of Support Industry (VASI).
— Viet Nam News
F&B businesses take different strategies after social distancing
With social distancing measures eased, some F&B businesses have gradually restarted operations, with some even opening new branches.
— Viet Nam News
Marry by 30, two children by 35: Vietnam’s plan for young people to boost its economy
Media professional To Chau, 34, has been thinking about having children with her husband since they bought a home in Saigon two years ago. But she still feels unprepared, “mentally or otherwise”.
— South China Morning Post
New high-tech park to be built in Đang Nai
The Việt Nam-Korea Techno Park Investment and Development Joint Stock Company (VKTP) has proposed to Đang Nai Province the investment and construction of Techno Park, a Việt Nam-South Korea high tech park project.
— Viet Nam News
Four-month State budget revenue posts drop as Gov’t offers tax relief
The State budget revenue in January – April was estimated to total VNĐ491.38 trillion (US$21.18 billion), representing a drop of 5.9 per cent against the same period last year.
— Viet Nam News
Hà Nội implements six solutions to improve PCI ranking
Hà Nội is implementing six solutions to improve the city’s ranking in the PCI in 2020, maintaining its position among the top ten localities in the index.
— Viet Nam News
State-owned enterprises forecast revenue down due to virus
Nineteen State-owned groups and corporations under the Commission for the Management of State Capital at Enterprises (CMSC) expect to incur losses worth some VNĐ26 trillion (US$1.1 billion) this year due to coronavirus crisis.
— Viet Nam News
Vietnam kids return to school as COVID-19 restrictions eased
Hanoi, May 12 (IANS) Children in Vietnam returned to school after more than two months, as authorities gradually eased restrictions imposed since February to contain the spread of COVID-19.
— Outlook India
Market rallies continue as individual purchases boost large-caps
Vietnamese shares rallied for a fifth straight day as better market sentiment continued driving large-cap firms up.
— Viet Nam News
Online shopping is on the rise in HCM City
The e-commerce market in HCM City has developed significantly, with total online spending growth up by more than 12 per cent annually since 2015, according to the city Department of Industry and Trade’s report on e-commerce development.
— Viet Nam News
EU, France back Vietnam in fight against climate change
The European Union and the French Development Agency (AFD) have established a 20-million-euro ($21.5 million) fund to help Vietnam deal with climate change.
— VnExpress
Mobile money pilot project submitted to PM for approval
A mobile money pilot project has been submitted to the Prime Minister for approval, marking a bold step for the development of payments using telecommunication accounts in Việt Nam, Governor of the State Bank of Việt Nam Lê Minh Hưng said at the dialogue between the PM and the business community on Saturday.
— Viet Nam News
One of sickest COVID-19 patients has experienced “wonderful recovery”
Few people imagined that patient 19, who have in been critically ill at times, has experienced “wonderful recovery” thanks to great efforts of frontline medical workers, according to the National Steering Committee for COVID-19 Prevention and Control.
— VGP RSS Feed
Central city port gains 37 per cent profit growth in Q1
Đà Nẵng Port Joint Stock Company earned revenue of VNĐ224.4 billion ($9.75 million) from sales and services, earning net profit of $2.44 million, up nearly 37 per cent year-on-year.
— Viet Nam News
One COVID-19 patient transferred to HCMC hospital due to deteriorating lung conditions
Female patient 278 has been transferred from Bac Lieu General Hospital to Ho Chi Minh City Hospital for Tropical Diseases after her health conditions deteriorate, according to HCMC-based hospital director Nguyen Vinh Chau.
— VGP Local Activities
Bắc Giang will boost domestic lychee consumption due to difficulties in export
Bắc Giang Province will promote domestic consumption of lychees due to difficulties faced in exporting this kind of fruit this year.
— Viet Nam News
Feature photo Electro Deal Pro
This week’s Vietnam morning news feature photo focus on World Telecommunication and Information Society Day, May 17.
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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Vietnam morning news for May 13 added by Sreypov Men on
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She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018
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