Vietnam Morning News For May 22

Vietnam Morning News For May 22
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Vietnam morning newsVietnam says Chinese bombers in disputed South China Sea increase tensions
Recent activity by China’s strategic bombers in the South China Sea’s Paracel Islands seriously violated Vietnam’s sovereignty over the disputed territory, Vietnam’s foreign ministry said on Monday.
— Business Insider

State to exit PetroVietnam tourism service arm in share auction
The Vietnamese government is targeting to raise VND80 billion ($3.52 million) by divesting the tourism service arm of state-owned energy giant — PetroVietnam.
— DealStreetAsia

U.S. slaps heavy duties on Chinese steel shipped from Vietnam
The U.S. Commerce Department on Monday slapped steep import duties on steel products from Vietnam that originated in China after a final finding they evaded U.S. anti-dumping and anti-subsidy orders.
— Reuters

EU tops exports of Viet Nam shrimp
The European Union (EU) market was the largest export market of Vietnamese shrimp in the first quarter of this year, according to Viet Nam Association of Seafood Exporters and Producers (VASEP).
— Bizhub

Chinese Tourists Fuel Tension in Vietnam
A series of incidents involving Chinese tourists in Vietnam has fueled tension despite the countries’ efforts to improve relations.

Air China to Launch New Route Between Beijing and Hanoi
Air China will launch a new service between Beijing and Hanoi on 1 June 2018. The non-stop route will enable passengers to travel from Beijing to Vietnam’s charming capital city in just four hours.
— AviationTribune

City seeks more funds for metro
HCM City authorities have asked the National Assembly (NA) to increase investment for the city’s first two metro lines that start near Ben Thanh Market in District 1 and end at Suoi Tien Theme Park in District 9 and Tham Luong depot in District 12.
— Bizhub

Vietnam, Australia renewable energy roundtable in Hanoi
Vietnam-Australia Roundtable 2018 will be organized by the Australian Government in partnership with Vietnam’s Ministry of Industry and Trade in Hanoi.
— Devdiscourse

Meeting stricter requirements of foreign investors to promote FDI
Vietnam posted a total foreign direct investment (FDI) capital of US$8.06 billion in the first four months of this year, including newly registered capital, supplemented capital and capital contribution and share purchases by foreign investors, according to the statistics released by the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
— Nhan Dan Online

Vingroup target 50% profit growth
Private business conglomerate Vingroup is seeking shareholders’ approval for targets of 34 per cent and 50 per cent increases in revenue and net profit, respectively, this year.
— Viet Nam News

This Clean Energy Champion Is Out To Break Vietnam’s Coal Habit
Vietnam is addicted to coal. Its economy has grown over 6%, on average, since the turn of the century, among the fastest of its Southeast Asian peers, yet that growth is fueled by coal, the most polluting fuel source on the planet.
— Hellenic Shipping News

HCMC boosts supporting industries
HCM City is enacting policies to aid businesses in the supporting industry by encouraging investment, networking between firms and banks, and creating special zones.
— Bizhub

Steel industry maintains positive growth
The production and sales of steel products in the first four months of this year increased significantly compared to the same period in 2017, according to the Vietnam Steel Association (VSA).
— The Hanoi Times

VN payment service market, e-wallets boom
Under a government program on stimulating non-cash payment, revenue from cash payments would reduce to 10 percent by 2020.
— VietnamNet Bridge

Proposed regime for reporting market prices
The Ministry of Finance (MoF) has drafted a circular on rules and methods of collecting information and reporting market prices of some domestic goods and services.
— Bizhub

Stabilizing macro-economy for sustainable development
National Assembly Chairwoman Nguyen Thi Kim Ngan request the Government to stabilize macro-economy in the context of unexpected certainties surrounding the world economy.
— The Hanoi Times

​Ships still ‘grounded’ on lifeline canal in Vietnam’s Mekong Delta despite $35mn upgrade
Traffic along an arterial inland waterway in the Mekong Delta in southern Vietnam has been frequently snarled due to the route’s shallow water, despite its VND786 billion (US$35 million) worth of makeover several years ago.
— Tuoi Tre

Gov’t strives to boost business environment
Recent policies have underscored the Government’s efforts to improve Viet Nam’s business environment and national competitiveness.
— Bizhub

Auto imports drop sharply last week
A total of 231 cars worth 10.2 million USD were imported to the Vietnamese market over the past week, reported the General Department of Customs.
— VietnamPlus

PE firm Navis Capital invests in Vietnam-based denim supplier Saitex Holdings
Asia-focused private equity firm Navis Capital Partners has invested an undisclosed amount into Saitex Holdings, a jeans supplier with its manufacturing base outside of Ho Chi Minh City, in Vietnam.
— DealStreetAsia

Vietnamese labourers struggle amid Industrial Revolution 4.0
The fourth industrial revolution has been commonly heard recently. What are the impacts of the revolution on labourers and what should firms do to mitigate the adverse impacts and claim benefits brought by the revolution?
— VietnamPlus (video)

Vietnam maintains trade surplus in five months
Vietnam has posted a trade surplus of US$2.51 billion thanks to rising exports in the first months of the years, according to reports from the General Department of Customs.
— The Hanoi Times

EVFTA – a push for Vietnam-EU economic relations
The upcoming valid EU-Vietnam Free Trade Agreement (EVFTA) will create a strong driving force for fostering Vietnam – EU comprehensive economic partnership via the abolition of 99 percent of import tariffs in the next 7-10 years.
— VietnamPlus

Room to boost India-CLMV trade
India’s trade relations with Cambodia, Laos, Myanmar and Việt Nam (CLMV) have immense potential to flourish, said Deputy Minister of Industry and Trade Cao Quốc Hưng.
— Viet Nam News

Korean firms expand investments in Vietnam
The Republic of Korea (RoK) poured 2.32 billion USD in Vietnam in the first four months of 2018, making up nearly 30 percent of the inflow of investment in the Southeast Asian country.
— VietnamPlus

Italian coffee producers highly evaluate Vietnamese coffee beans
Italian coffee producers highly evaluated Vietnamese coffee beans as they are essential ingredients of their products, Mario Vicentini from Comunicaffe International, an Italian daily newspaper about coffee, told Vietnam News Agency reporters at Milano Coffee Festival.
— VietnamPlus


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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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