Vietnam morning news for October 24

Vietnam morning news for October 24
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Vietnam morning newsCeiling rates for airfares unchanged
The Ministry of Transport will keep the ceiling rates for airfares unchanged despite proposals from airlines to increase the rate.
— VietnamNet Bridge

Stung by scandals, Vietnam tightens food safety laws (video)
The Vietnamese government has increased penalties for food safety violations by 350 per cent after a string of embarrassing scandals, including the sale of chemically enhanced shrimp and coffee made from dirt and batteries.
— AEC News Today (video)

State Audit completes 96 percent of annual plan
The State Audit of Vietnam (SAV) has carried out 222 audits out of total 232, equivalent to 95.7 percent of its yearly plan, recovering nearly 8.4 trillion VND (360.5 million USD) for the State budget in the last nine months.
— VietnamPlus

EVFTA – Acceleration and expectations
The EU-Vietnam Free Trade Agreement (EVFTA) is a new-generation FTA between Vietnam and the 28 EU member States, which includes the highest level of commitments from Vietnam so far.
— Nhan Dan Online

Vietnam Parliament Elects Communist Party Chief as President
Vietnam’s rubber stamp National Assembly elected Communist Party General-Secretary Nguyen Phu Trong as the country’s president on Tuesday, consolidating his influence as the most powerful man in the Southeast Asian nation.

Vietnam enhances policy enforcement on management, use of foreign loans
The Standing Committee of the National Assembly (NA) has recently issued a resolution on promoting law enforcement on the management and use of foreign loans.
— VietnamPlus

Developing oil refinery projects no longer ‘fashionable’
Petrolimex’s chair Pham Van Thanh, at a meeting with the Prime Minister’s task force two weeks ago, unexpectedly asked for permission to stop implementing Nam Van Phong oil refinery project ($6 billion), saying that Petrolimex needs capital for other important projects.
— Vietnam Insider

Regional cooperation as key to boost Asian economies: ADB
“Enhanced regional cooperation and coordination can help countries manage regional issues, particularly if they complement national and global actions,” said ADB Chief Economist Yasuyuki Sawada.
— The Hanoi Times

Commercial banks race to expand foreign investments
Vietnamese commercial banks are racing to develop their networks by opening representative offices and subsidiaries in foreign nations, paving the way for them to expand their overseas operations, according to market watchers.
— VietnamPlus

Vietnam’s foreign debt projected to touch in 2019
The National Assembly`s Finance – Budget Committee requested the government to ensure national financial safety by strictly implementing financial disciplines.
— The Hanoi Times

Seeking “swimming path” for catfish exports
Catfish exports are flourishing, but trade protectionism and unfavourable information campaigns also make the industry unstable. Maintaining the quality and facilitating brand building for catfish is a sustainable and long-term direction for the industry, experts have suggested.
— Nhan Dan Online

Tech drives Vietnam investment
A Viet Nam Report survey on the 500 most profitable companies in the country said most business insiders expect technology to remain the leader in attracting investment.
— VietnamNet Bridge

Strong FDI flows poured into Hai Phong, Hai Duong
Northern Hai Phong city and Hai Duong province have welcomed big high-tech foreign direct investment (FDI) projects this month, with a combined investment of over 850 million USD.
— VietnamPlus

Vietnam to Launch MicroDragon Earth Observation Satellite in December
MicroDragon, a miniaturized satellite developed by Vietnamese engineers, is scheduled to be launched in December with the assistance of Japan. The launch was announced on October 18 by the Vietnam National Space Center (VNSC), as part of a joint Vietnam-Japan project on disaster and climate change prevention using earth observation satellites.
— Satelliete Today

Local firms win bid to supply rice for Philippines
The Vietnam Northern Food Corporation (Vinafood 1) and the Vietnam Southern Food Corporation (Vinafood 2) will sell 14,000 tonnes and 15,000 tonnes of rice, respectively, to the Philippines.
— VietnamNet Bridge

Environmental protection tax on many commodities next year
Lawmakers have decided to raise the environmental tax on a number of commodities from January 1, 2019.
— Bizhub

New bus route transports passengers from airport to Hanoi’s centre
A new bus route carrying passengers from Noi Bai International Airport to Hanoi’s My Dinh bus station and vice versa was launched by the Transport Corporation Hanoi (Transerco) last weekend.
— Vietnam Insider

Visitors can discover Ho Chi Minh City by QR codes
Visitors to Ho Chi Minh City can scan a quick response code (QR code) to discover all information, images and videos about tourist destinations, such as the Central Post Office, Saigon Opera House and Ben Thanh Market in the city from November 2018.
— The Hanoi Times

Housing developers take a shine to northern Vietnamese province
More property companies are pouring money into housing in Bac Ninh which is believed to have great potential for development.
— VnExpress

Vietnam’s first ethical elephant tours launch
Amid growing global condemnation of elephant riding as a tourist activity, Yok Don national park in southern Vietnam has ended the practice and replaced it with the first ethical elephant experience of its kind in the country.
— The Guardian

VIB 9–month profit before tax rises 176% YoY, Retail revenue increases 92% YoY
Vietnam International Bank (UPCoM: VIB) announced its financial statements of the first 9 months of 2018, with positive business results shown in key indicators such as asset growth, profit from core business.
— Vietnam Insider

Vietnamese and Danish enterprises ink strategic agreement
The CMC Corporation from Viet Nam signed a strategic co-operation agreement with Approxima, a partner from Denmark on October 20, within the framework of the Viet Nam – Denmark Business Forum held at the headquarters of the Confederation of Danish Industry (DI). Prime Minister Nguyen Xuan Phuc witnessed the ceremony.
— Bizhub

An overview of Vietnam’s venture capital industry
Vietnam has one of the best track records in making growth more inclusive and sustainable towards all segments of the society and population.
— Vietnam Insider

Sailing the Mekong with Aqua Expeditions
Combining unparalleled luxury with exhilarating excursions, Aqua Mekong is breathing new life into the cruise industry
— The Week

Khanh Hoa focuses on maritime economic development
The central coastal province of Khanh Hoa has seen considerable development in recent times, which is partly attributable to the three sea bays – Nha Trang, Cam Ranh, and Van Phong.
— VietnamPlus

For Vietnamese exporters, ASEAN market remains bridge too far
Vietnamese companies are struggling to sell their products to ASEAN member countries despite the abolition of tariffs within the bloc.
— VnExpress

Over 250 enterprises participate in Vietnam International Industrial Fair
The 27th Vietnam International Industrial Fair (VIFF 2018) officially opened in Hanoi on October 23, attracting the participation of over 250 enterprises.
— Nhan Dan Online


Feature photo Agroecology Learning Alliance

This week’s Vietnam morning news feature photo acknowledges World Development Information Day, October 24.


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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