Vietnam Morning News For April 30

Foreign businesses accelerate indirect investment in Vietnam
Vietnam`s high and steady economic growth in the past years has strongly drawn foreign capital and investment in local firms, considered as the shortest way for foreign investors to enter the Vietnamese market.
— The Hanoitimes

Vietnam maintains trade surplus in first four months of 2019
Vietnam maintained a trade surplus of US$711 million in the first four months of this year, much lower than US$3.7 billion recorded in the same period in 2018.
— Nhan Dan Online

Vietnam gets low rating as cyber attacks rise
Official statistics show that Vietnam suffered 4,770 cyber attacks in the first quarter of this year — more than half of the total figure in 2018.
— Asia Times

Over 60,000 enterprises established, resume operations during Jan-Apr
Nearly 60,800 enterprises registered for establishment or returned to operations in the first four months of 2019, according to the latest data from the General Statistics Office of Vietnam.
— Nhan Dan Online

Vietnam’s April annual inflation rate at 2.93%: stats office
Vietnam’s consumer price index in April rose 2.93 per cent from a year earlier, led by an increase in the cost of education services and food, government data released on Monday showed.
— Business Times

Retail sales and consumer services revenue reaches highest rate in four years
The country’s total revenue generated from retail sales and consumer services in the first four months of 2019 reached the highest growth rate since 2015, topping nearly VND1.6 quadrillion (US$68.8 billion).
— Nhan Dan Online

Outlook for Việt Nam’s economy remains sound in 2019: IMF
The outlook for Việt Nam’s economy remains sound, aided by its strong fundamentals, diversified trade structure and the authorities’ commitment to macroeconomic stability and private sector-led growth, according to the International Monetary Fund (IMF).
— Viet Nam News

Rostec opens engine repair centre in Vietnam
Rostec has opened an integrated logistics support centre for the repair of United Engine Corporation’s UEC-Klimov helicopter engines in Vũng Tàu, Vietnam.
— Shephard Media

Public Bank eyes expansion in Cambodia, Vietnam
Public Bank Bhd, the country’s third largest lender by assets, said it it is actively pursuing opportunities in Cambodia, in view of the growing potential of the Indochina market.
— The Edge Markets

Vietnam, US two-way trade posts robust growth
This year, export turnover of Vietnam to the US market grew at lightning speed. In January alone, it exceeded $5.15 billion, up 42.1 percent compared to the same period last year. With such figures, export growth rate of Vietnam to the US market was 4.7 times higher than average growth rate of all other export markets. Noticeably, garment and textile got the highest export turnover with $1.59 billion, up 34.1 percent, followed by footwear and wood products.
— Sggp News

Vietnam’s Vingroup takes aim at Samsung and China’s Oppo
Vietnam’s richest man, Pham Nhat Vuong, is stepping up his efforts to grab a share of the domestic smartphone market from foreign rivals such as South Korea’s Samsung.
— Financial Times

Vietnam gets its first MVNO
Indochina Telecom has become the first MVNO in Vietnam, operating on the VinaPhone network.
— Telecom Asia

Citi Enters Partnership with one of the Hottest Fintechs in Vietnam
Citi Treasury and Trade Solutions announced a strategic partnership with Vietnam-based intermediary payment service provider Payoo to facilitate consumer-to-business collections for corporate clients in the country.
— Finch News

Indonesia detains 12 fishermen after sea clash with Vietnam
Indonesia’s navy says one of its patrol boats was rammed by two Vietnamese coast guard ships after intercepting an alleged illegal fishing boat.
— Fox News

CPI during first four months at the lowest in last three years
The average consumer price index (CPI) in the first four months of 2019 increased by 2.71% compared to the same period in 2018, the lowest increase for the first four months of the year in the last three years.
— Nhan Dan Online

Good pay, but real estate firms struggle to hire managers
Vietnamese real estate firms are finding it difficult to recruit managers despite offering competitive remuneration.
— VnExpress

Vinatex targets 12 percent growth in profit in 2019
The Vietnam National Garment and Textile Group (Vinatex) eyed a 12 percent increase in profit this year despite various challenges arising from the US-China trade war, Vinatex General Director Le Tien Truong said.
— VietnamPlus

3,000 old buildings in HCM City should be renovated
HCM City has great potential for restoring thousands of villas, houses and buildings, many of them over 100 years old, according to the Architectural Research Centre at the city’s Department of Planning and Architecture.
— Eleven Myanmar

Asia: Dengue cases up in the Philippines, Vietnam and Malaysia
Dengue fever cases are up among most countries in Southeast Asia during the first months of 2019 compared to last year. Here is a look at three of the countries:
— Outbreak News Today

Samsung donates thermal imaging cameras to firefighters in Vietnam
Samsung Electronics has donated 300 IGNIS thermal imaging cameras to firefighters in Vietnam in a bid to help improve efficiency and safety in fire prevention and rescue activities there.
— Korea Times

Vietnam plans to increase retirement age amid rapid aging
According to the draft of the revised Labor Code, the retirement age will be raised to 62 for males and 60 for females.
— The Hanoitimes

China, India, Vietnam charged us big tariffs: Trump at Wisconsin rally
President Trump has criticised India’s “big tariffs” on American paper products and the iconic Harley-Davidson bikes once again, saying the US has been losing billions of dollars to countries like India, China and Japan.
— Wio News

$1bn illegal online gambling ring exposed in Vietnam
Police in Vietnam have broken up an online gambling ring that had handled more than $1 billion in bets and arrested 22 people in what is believed to be the largest-ever internet betting operation in the country.
— Southeast Asia Globe

Vietnam joins multinational maritime drills from April 29
Participating in the ADMM-Plus maritime drills is a token of what Vietnam does to defend its sovereignty.
— The Hanoitimes

Central Vietnam steel plant sold for ‘peanuts’
The Van Loi Steel Mill, deserted for eight years, has auctioned off for just 10 percent of its investment value.
— VnExpress

Bamboo Airways fleet expansion plan runs into overreach concerns
Bamboo Airways’ request to expand its fleet has hit a roadblock with Vietnam’s aviation authorities unsure of its management capabilities.
— VnExpress

How Much Do You Know About Vietnam?
Vietnam’s capital, Hanoi has experienced extraordinary growth over the last three decades, evolving from a grim, famine-ravaged place into a sophisticated metropolis with high-rises, sensational cuisine and world-class art.
— Vietnam Insider

Vietnam’s Business environment improving significantly
Vietnam’s business environment continues to improve according to the recently released 2018 Provincial Competitiveness Index (PCI) report.
— Vietnam Insider

Forestry exports on the rise
The forestry industry showed a strong increase in export value in the first four months of the year, according to the Viet Nam Forestry Administration.
— Bizhub

Visit Puts the Prospects of EU-Vietnam Security Ties Into Focus
A recent interaction spotlighted some of the ongoing activity within the defense aspect of the relationship.
— The Diplomat

Vietnam seeks to boost Kuwaiti investments in gas, oil
Vietnam’s Deputy Prime Minister Trinh Dinh Dung said his country seeks to enhance Kuwaiti investments in gas, oil and infrastructure as it intends to obtain more non-refundable governmental aids from Kuwait Fund for Arab Economic Development (KFAED) considering Kuwait is an investor in an oil refinery in Vietnam, reports Al-Qabas daily quoting La Guerre du Vietnam Newspaper.
— Arab Times Online

Jadestone Energy announces HOA for Vietnam gas sales
Jadestone Energy Inc. (‘Jadestone’ or the ‘Company’), an independent oil and gas production company focused on the Asia Pacific region, is pleased to announce that two of its wholly-owned subsidiaries have signed a Heads of Agreement (‘HOA’) with Petrovietnam, relating to gas sales from the Nam Du and U Minh gas fields (Jadestone 70% working interest, and operator) in block 46/07 and block 51, respectively, offshore Southwest Vietnam.
— Energy Global

Fintech and its impact on the mortgage market
Applying for a mortgage has always followed the same pattern historically.
— Vietnam Insider

Vietnam asked to speed up payment for Japanese-funded metro line in HCM City
The majority of Japanese official development assistance (ODA) to Vietnam goes to infrastructure projects.
— The Hanoitimes

Feature photo WWF Seafood Sustainability

This week’s Vietnam morning news photo features World Tuna Day, May 2.

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.