Vietnam morning news for September 21

Vietnam morning news for September 21
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Vietnam morning newsSupply overhang threatens condotel market
According to the Viet Nam Real Estate Brokers Association last year around 23,000 units of condotels, or condo-hotels, were offered for sale, and 65-70 per cent of them were snapped up.
— VietnamNet Bridge

Vietnam credit growth outpaces money supply expansion
The difference between M2 growth and credit growth fell from VND238 trillion (US$10.24 billion) as at June 20, 2018 to only VND124 trillion (US$5.33 billion) August 22, 2018.
— The Hanoi Times

DHL brings e-commerce COD to Malaysia, Thailand, & Vietnam
E-commerce exporters in China and Australia, consumers in Malaysia, Thailand and Vietnam, and DHL eCommerce are all expecting benefits from the introduction of a Cross Border Cash-on-Delivery (COD) system by Deutsche Post DHL Group.
— AEC News Today

IFC Said to Seek Buyer for Stake in $4 Billion Vietnam Bank
The World Bank’s International Finance Corp. is seeking a buyer for its stake in Vietnam Joint Stock Commercial Bank for Industry & Trade, the country’s third-largest lender by market value, according to people with knowledge of the matter.
— Bloomberg

HCM City eyes 23 million USD from ornamental fish exports
The Ornamental Fish Festival 2018 kicked off in Ho Chi Minh City on September 20.
— VietnamPlus

Success of impact-driven SMEs is key for inclusive business in Vietnam: Oxfam
In its quest for poverty reduction and social equality, Oxfam identifies impact-driven small and medium enterprises (SMEs) play a key role for the success in inclusive business in Vietnam, stated Nguyen Thi Le Hoa, deputy country director of Oxfam in Vietnam.
— The Hanoi Times

ANZ Vietnam reports 75 pct fall in profit in H1
ANZ Vietnam’s profits fell 75 percent in the first half of this year following the sale of its retail arm to Shinhan Bank.
— VnExpress

PNJ fined for tax arrears
According to PNJ’s announcement, the Ho Chi Minh City Tax Department issued Decision No.5787 on September 13, 2018 to penalise PNJ for tax violations committed between January and December 2017.
— Vietnam Insider

Nearly 4.5 trillion VND needed to repair two key runways
The Ministry of Transport (MoT) on September 19 sent a document proposing the Ministry of Finance to allocate nearly 4.5 trillion VND (193.5 million USD) for upgrading two key runways in the country’s largest international airports.
— VietnamPlus

E-payment continues to go mainstream in globalizing Vietnam
Electronic payments are becoming more and more common in Vietnam, according to Visa.
— VnExpress

Thai Vietjet becomes the first airline in Thailand to take delivery of new Airbus A321
Thai Vietjet has taken a new Airbus A321 under its wing that is the sixth in its fleet and the first of its kind in the country.
— The Nation

Soi Dog congratulates the Hanoi people’s committee ban on dog and cat meat trade
Barely 24 hours after urging citizens to stop eating dogs and cats, Hanoi’s authorities have announced that the sale of dog meat will be banned from the central districts of the city from 2021.
— The Thaiger

Is Sony, LG leaving Vietnam?
The move to slash prices of Sony’s models has raised doubts that Sony is trying to dump stock before leaving Vietnam. But Sony has denied this.
— Vietnam Insider

Vietnam’s large banks to end cross-ownership soon
Favorable stock market and positive economic growth have helped large banks to step up divestment from other peers to meet the central bank’s regulation on holding shares at other credit institutions.
— The Hanoi Times

Overworked, abused, hungry: Vietnamese domestic workers in Saudi
Women say they are forced to work at least 18 hours a day, denied food, assaulted and prevented from returning home.
— Aljazeera

Facebook Faces a Challenge in Vietnam
Vietnam has enacted a law that would require technology companies to store personal data on its citizens locally.
— Market Realist

Vietnam needs to adapt to digitisation, meet hears
VIETNAM needs to improve the quality of its technical and vocational education and training to meet the requirements of digitisation and industry 4.0, a conference heard in Ho Chi Minh City.
— The Nation

JSR starts operation in Vietnam to address automotive demand
Vietnam—Japanese materials supplier JSR Corp. has invested $862,000 to establish trading operations in Vietnam, citing the exponential economic growth in the region as a primary reason for doing so.
— Rubber News

Vietnam reiterates stance after British, Japanese South China Sea drills
Vietnam respects navigation freedom conferred by international laws, Foreign Ministry spokeswoman Le Thi Thu Hang said Thursday.
— VnExpress

Web archive on history of Vietnam-Japan cooperation launched
The State Records and Archives Department of Vietnam held a ceremony on September 20 to launch a website for the online exhibition “History of Vietnam-Japan cooperation through archival record”.
— Nhan Dan Online

Huge HCMC urban area back on front burner after long delay
HCMC authorities might auction a huge, long-delayed mixed-use property development which will also include a golf course.
— VnExpress

HCM City uses Zalo mobile app to help users monitor traffic
HCM City Department of Transport announced on September 18 that it was working to integrate the urban traffic information portal into the Zalo mobile app in an attempt to reduce congestion.
— Vietnam Insider

Hundreds of shiny new BMW cars rust away at HCMC port
The cars are reportedly worth $17.6 million and cost the importer another $264,172 for leaving them at Saigon Port for two years.
— VnExpress (video)

VN food sector lures foreign investors
Viet Nam has a diverse and well-developed agricultural and food industry that offers vast opportunities to companies in the food industry, from sourcing to processing, a Hong Kong speaker said at a forum held on Wednesday in HCM City.
— Bizhub

Viettel Global to float 2.24 billion shares on UPCoM
With the starting price of VND15,000 (US$0.64) per share, Viettel Global would be valued at around VND33.65 trillion (US$1.45 billion).
— The Hanoi Times

Lam Dong leads in attracting FDI in hi-tech agriculture
Located in the Central Highlands, Lam Dong province is blessed with a mild climate and fertile soil suitable for agriculture. The province has made good use of its advantage to attract foreign investment in developing hi-tech farming.
— Nhan Dan Online

Production of clean agricultural products remains insignificant
Despite increasing demand for clean agricultural products, the production of clean agricultural products remains insignificant and the majority of consumers find it difficult to get access to clean farm produce.
— Nhan Dan Online

Vietnam Is One Of The Most Resilient EMs
While Vietnam hasn’t entirely insulated itself in the least from the EM turmoil YTD, as the headline Ho Chi Minh Stock Index remains 21.49% below the high reached at the beginning of April, the market remains one of the few EMs which maintains positive performance year-to-date at pretty much breakeven +0.34%.
— Seeking Alpha

Transparency critical for SOEs
Transparency is critical to enhance the efficiency of State-owned enterprises (SOEs) as Viet Nam enters a new phase of equitisation which will focus on quality rather than quantity.
— Bizhub

4.2 trillion VND mobilised from G-bonds
The State Treasury of Vietnam raised an additional 4.2 trillion VND (180.6 million USD) by auctioning off Government bonds at the Hanoi Stock Exchange (HNX) this week.
— VietnamPlus

Japan’s NSSBC buys 10.5% stake in steel processor in Vietnam
Nippon Steel & Sumikin Bussan Corp, the trading arm of Japan’s largest integrated mill Nippon Steel & Sumitomo Metal Corp, said Wednesday it has purchased a 10.54% stake in construction steel processor QH Plus Corp in Vietnam.
— S&P Global

VN-Index back over 1,000 points
The VN-Index broke through the 1,000-point mark for the first time in more than three months on September 20.
— Vietnam Insider

Vietnam’s Auditor General becomes ASOSAI Chairman
Auditor General of the State Audit Office of Vietnam (SAV) Ho Duc Phoc received the chairmanship of the Asian Organisation for Supreme Audit Institutions (ASOSAI) from Malaysia at the first plenary session of the 14th ASOSAI Assembly in Hanoi on September 19.
— VietnamNet Bridge

New bus station opens in Sapa
Vietnam’s most modern bus station has been opened in Sapa Town in the northern mountainous province of Lao Cai.
— Vietnam Insider


Feature photo HaiRobe


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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