Vietnam Morning News For June 13

Vietnam Morning News For June 13
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Vietnam morning newsVietnam legislators back cyber law clamping down on tech firms, dissent
Vietnamese legislators approved a cybersecurity law yesterday that tightens control of the internet and global tech companies operating in the Communist-led country, raising fears of economic harm and a further crackdown on dissent.
— The Borneo Post

North Korea reportedly wants a ‘Vietnam-like’ debut to the world economy
Could North Korea’s economy, the most isolated in the world, ever follow in the footsteps of Vietnam’s? Even as Pyongyang warms up to the leader of the free world, some analysts doubt it.
— Business Insider

Embarrassing: Elite Vietnamese Anti-terror Police Saved by Fireworks (video)
Embarrassing and humiliating are the only two words that can describe the reaction of so-called elite Vietnamese anti-terror police to a violent assault by protestors in Bình Thu?n Province on Sunday.
— AEC News Today (video)

Vietnam’s top conglomerate Vingroup to foray into smartphones
Vietnam’s biggest conglomerate Vingroup JSC is making its first foray into smartphone manufacturing and sales, aiming for success in the Southeast Asian nation where smaller rivals have failed to dent the popularity of Samsung and Apple phones.
— Reuters

China Closes The Door On Vietnam’s Oil And Gas Ambitions
As China tightens the noose over Vietnam’s ability to drill for oil and gas in its own UN-mandated 200-nautical mile Exclusive Economic Zone (EEZ), the country is turning to solar energy and other renewables to make up for lost ground.
— Oilprice

Indonesia, Vietnam discuss minimum wage for workers
Vice President Jusuf Kalla and Vietnam’s Deputy Prime Minister Truong Hoa Binh discussed the minimum wage for workers in Southeast Asia and the fate of Vietnamese fishermen in Indonesia during their bilateral meeting in Tokyo on Tuesday.
— The Jakarta Post

Vietnam bars dissident priest from traveling abroad
A priest who is known for speaking out against Vietnam’s communist government has been banned from leaving the country
— UCA News

Viet Nam spent $3.6 million on petrol imports
Viet Nam imported more than 5.56 million tonnes of oil and petroleum products worth nearly US$3.6 billion in the first five months of the year.
— Bizhub

How ‘white gold’ plunges Vietnamese farmers into dire straits
Many rubber tree growers in Vietnam have been facing huge losses, as their plants failed to withstand adverse weather conditions and fetched low prices although the government initially encouraged massive rubber farming.
— Tuoi Tre

Vietnam’s credit growth up 6 pct in 5 months
Vietnam’s total loans surpassed 6,700 trillion Vietnamese dong (over 295 billion U.S. dollars) as of May 31, up 6.16 percent from the end of 2017, said a central bank official.
— Xinhua

Catfish skin: a promising export
Catfish is one of Viet Nam’s major seafood exports with a turnover of US$1.8 billion, and its skin, a waste product, is also being exported starting recently.
— Bizhub

Da Nang sets economic goals towards 2030
The central city of Da Nang aims to have the GRDP growth of 9-11% and GRDP per capita ranging between US$7,000 and US$9,000 for 2018-2030.
— Nhan Dan Online

Viet Nam commits to stable business community
Viet Nam is committed to maintaining a stable environment to ensure the rights and interests of foreign businesses investing in the country, said Deputy Prime Minister Truong Hoa Binh at the 24th International Conference on the Future of Asia in Tokyo on Monday.
— Bizhub

Numbers tilt in favor of traditional lottery firms in southern Vietnam
Their revenue increases can be attributed to a decline in popularity for tickets sold by computerized lottery firm Vietlott.
— VnExpress

Growing middle class drives car demand in Vietnam
Vietnam now has a golden population structure and a fast growing middle class – potential buyers of private cars, which is forecast to boost domestic car sales by about 22 percent annually from now to 2025.
— VietnamNet Bridge

New decree clarifies PPP projects
The Government will abolish administrative procedures for issuing investment registration certificates for Public-Private-Partnership (PPP) projects, according to the government’s Decree 63.
— VietnamPlus

VCSC downgrade local pharmacy firm
The Viet Dragon Securities Company (VCSC) has forecast a bleak outlook on sluggish sales and rising input costs for Hậu Giang Pharmaceutical Joint Stock Company (DHG).
— Bizhub

Prudential commits long-term investment in Vietnam
Prudential Vietnam has got approval from the Ministry of Finance to increase its chartered capital to 4,128 billion VND (around 181.8 million USD).
— VietnamPlus

72% of fintech firms expect partnership with banks
“72% of fintech firms choose to cooperate with commercial banks in providing products and services instead of direct competition”, said Le Anh Dung from the Payments Department under the State Bank of Vietnam (SBV).
— Nhan Dan Online

Internet streaming one up on traditional TV in Vietnam
Industry insiders say local Over-The-Top service providers should act together instead of against each other.
— VnExpress

Vietnam promising market for foreign cosmetics manufacturers
Vietnamese youth, who account for 60 percent of the total population, are a promising market for health and beauty products. The industry has an average growth rate of 30 percent per annum.
— VietNamNet Bridge 


Feature photo  UNIDO


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).

Vietnam morning news by AEC News Today is your one stop source for Vietnam news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies, not politics.


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Sreypov Men recently completed a course of study in International Relations at the Institute of Foreign Languages.

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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