Vietnam Morning News For August 14

Chinese ship returns to Vietnam’s exclusive economic zone
A Chinese survey ship returned to Vietnam’s exclusive economic zone off its coast on Tuesday, ship tracking data showed, less than a week after it left the area where vessels from the two countries were locked in a month-long standoff.
— Reuters

MoF proposes to increase import tax on heavy trucks
The Ministry of Finance has proposed to increase import tax on complete built-up units (CBUs) of trucks weighing more than 45 tonnes from the current zero to 10 per cent. This tax level is equal to commitments under the World Trade Organisation (WTO).
— Viet Nam News

EU-Vietnam trade deal shows EU will bend human rights standards if the price is right
Since the EU-Vietnam Free Trade Agreement (EVFTA) was signed in Hanoi in June, states across Southeast Asia are looking to push forward trade deals of their own with the regional bloc.
— Asean Today

Vietnam’s lagging 5G ambitions
On 10 May 2019, Vietnam became one of the first countries to successfully establish a 5G-powered phone call. It was a milestone for the country given Hanoi’s ambitious plan to deploy a 5G network for commercial operations by 2020 using domestically-developed technology.
— East Asia Forum

Vietnam mulls 5%-increase duty on hot rolled coil amid massive imports
Every year, Vietnam imports more than 8 million tons of hot rolled coil, of which Chinese products account for 40%.
— The Hanoitimes

Vietnam posts $175 mln trade surplus in confectionery products
Vietnam earned a H1 trade surplus of $175 million in confectionery and grain products, up 2.94 percent year-on-year.
— VnExpress

Vietnam boosts construction for an innovative ecosystem
Vietnam is likely to have multiple advantages to promote its economic development by science and technology in the context of the fourth Industrial Revolution. However, to make full use of advantages, it is necessary to invest in science and technology solutions and strengthen links among research institutes, universities and enterprises in solving technological innovation issues.
— NDO

Vietnam sets up data bank of over 10,000 medicine for first time
The Vietnam Drug Administration under the Ministry of Health yesterday launched the data bank Drugbank.vn with information of over 10,000 domestically circulated medicines.
— Sggp News

EVNNPC’s electrical output in first seven months up 9.16%
The electrical output of the Northern Power Corporation (EVNNPC) in the first seven months of 2019 increased 9.16% compared with the same period of last year, the company has announced.
— NDO

Imported cars overwhelm domestically-assembled vehicles
While sales of domestically-assembled cars has decreased by 14% in the first seven months of 2019, the complete imported cars to Vietnam shows up to 207% growth compared to the same period last year.
— NDO

PM demands solutions for shipping firms
The Prime Minister has asked ministries and Government agencies to support marine shipping firms.
— Viet Nam News

Starting a business in Vietnam : law and incorporation for expat
The procedures for investing or starting a business in Vietnam as a foreigner have been considerably simplified in recent years. Setting up a business in Vietnam is now quick and easy for foreign investors and entrepreneurs.
— New Daily Live

Car sales in Vietnam up 22% y/y in 7 months
Sales of domestically assembled cars reached 107,006 units in the January – July period, down 14% year-on-year, while the sale volume of imported completely-built-units (CBUs) jumped 207% to 73,934 units.
— The Hanoitimes

Vietnam’s aviation market saw growth slow down in the first half of 2019
It grew by 9.4 per cent to 38.5 million passengers, while growth in the same period last year was 14 per cent. Vietnam News Agency reports.
— Vietnam Insider

Vietnam allows foreign firm to import drugs for first time
France-based Sanofi-Aventis Vietnam Co., Ltd has been licensed to directly import drugs to Vietnam, becoming the first foreign-invested firm eligible to get such right in the country.
— The Hanoitimes

Vietnam’s largest beauty trade event to gather 450 enterprises
The two shows including “Vietbeauty” and “Mekong Beauty Show” will take place together on August 22-24 at the Saigon Exhibition and Convention Centre with the participation of more than 450 enterprises.
— NDO

CCL to invest $20 million in Chittoor, Vietnam
Private label instant coffee manufacturer CCL Products, which exports to over 90 countries, plans to expand its Vietnam plant as well as set up an agglomeration and packing unit in Chittoor, A.P., with an investment of $20 million.
— The Hindu

Safety initiative for apparel-footwear units in Vietnam
The Sustainable Trade Initiative Vietnam (IDH) and the Vietnam Textile and Apparel Association (VITAS) recently launched the ‘Life and Building Safety Initiative’ (LABS) in Hanoi to boost safer working conditions for apparel-footwear factory workers.
— Fibre2fashion

Reality show slammed for coral reef violation
Amazing Race Vietnam has taken a lot of flak for having cement blocks placed on a coral reef in Phu Yen.
— VnExpress

Hapag-Loyd implements new fees from Vietnam
With effect as from September 15, 2019 Hapag-Lloyd will implement below noted new surcharges from Vietnam to all destinations which will be due on top of the respective FAK rate applicable.
— Hellenic shipping news

Get Retired in Vietnam after 2020: Pros and Cons
What are the advantages and disadvantages of retirement in Vietnam? What percentage of savings can you expect to achieve compared to what you are spending today in France?
— Verna magazine

First Dental Good News: Vietnam Memorial Monument plans underway
A new monument is slated to be placed on the former St. Mary of the Plains campus near Cavalier Field in honor of three local Vietnam veterans.
— Dodge globe

Vietnam initiates 4 anti-dumping probes in 7 months
As goods imported to Vietnam have increased both in terms of quantity and value, the authorities are taking measures to support local enterprises, including anti-dumping duties.
— The Hanoitimes

Fintech Challenge Vietnam to spur financial inclusion and digital banking transformation
The Fintech Challenge Vietnam is an innovative development program that brings together the regulator, banks, and Fintech innovators to find the intersection between private benefits and the public good, said ADB Country Director for Vietnam Eric Sidgwick.
— The Hanoitimes

New decree issued to promote rice exports
More than 40 businesses have been added to the list of rice exporters under the Government’s newly revised decree on rice export, according to the Ministry of Industry and Trade’s Import and Export Department.
— Viet Nam News

Shrimp exports expected to pick up in 2nd half
Việt Nam’s shrimp exports are expected to be strong during the rest of this year because countries tend to import more in the latter months of the year, with the free trade agreements Việt Nam has signed boosting its exports.
— Viet Nam News

Nearly 4,000 flights delayed, cancelled in July
Vietnam Airlines, Vietjet Air, Jetstar Pacific, Vietnam Air Services Company (VASCO) and Bamboo Airways reported 3,933 delayed flights in July, reported the Civil Aviation Authority of Vietnam (CAAV).
— Viet Nam News

Vietnam-based proptech startup Propzy targets a US$25M Series B fundraising
Propzy plans to expand its management products focussing on mortgage banking and property management software for buildings and properties operators Propzy, Vietnam-grown proptech startup said that it is planning to raise US$25 million in a Series B funding round later this year, DealStreetAsia has learned. The company said that it is looking to use the …
— e27

PM demands solutions for shipping firms
The Prime Minister has asked ministries and Government agencies to support marine shipping firms.
— Viet Nam News

Rains damage vegetable, fruit crops in south, prices go up
The stormy weather in the south has hit vegetable and fruit output, leading to higher prices in HCM City and Đà Lạt.
— Viet Nam News

Provinces, experts call for allowing private capital in power grid construction
With power transmission lines and sub-stations getting overloaded in some provinces, authorities there and experts urge the Government to allow renewable energy investors to instal transmission systems and transfer them to the Vietnam Electricity (EVN) for operation.
— Viet Nam News

Trade Wars – Is Vietnam Next?
Do you think you are escaping the trade wars by moving production to Vietnam? Think again. Is Vietnam the next trade war target?
— SCMR

Vietnam, India foster people-to-people exchange
Vice President Dang Thi Ngoc Thinh on August 12 hosted a reception for an Indian delegation led by Pallab Sengupta, Politburo member of the Communist Party of India and General Secretary of the All India Peace and Solidarity Organisation (AIPSO).
— NDO

Tri-Mode rides on Vietnam’s FDI boom
ACE Market-listed Tri-Mode System (M) Bhd, which hopes to grow into a regional integrated logistics service provider, sees its new joint venture (JV) in Vietnam as timely.
— The Edge Market

Vietnam wants 10 unicorns by 2030
Vietnam wants to have at least five billion-dollar tech firms, or unicorns, by 2025 and 10 by 2030 as planned in its draft on national strategy on the Fourth Industrial Revolution.
— Daily Express

5.6 percent of VN children face risk of human trafficking: research
About 5.6 percent of Vietnamese children are at risk of trafficking, and only 2.8 percent of them confirmed they were victims of human trafficking, according to the latest research announced on August 13 by the Ministry of Labour, Invalids and Social Affairs’ Institute of Labour and Social Affairs (ILSA) and the United Nations Children’s Fund (UNICEF) in Vietnam.
— VietnamPlus

Vietnam, Japan cooperate in health personnel training
The Ministry of Health and Japan’s International University of Health and Welfare (IUHW) signed a memorandum of understanding (MoU) on human resources development for the sector in Hanoi on August 13.
— VietnamPlus

Second Fintech Challenge Vietnam launched
Technology solutions in the fields of big data, artificial intelligence, financial outreach and cyber security are the focus of the second Fintech Challenge Vietnam (FCV), which was launched in Hanoi on August 13.
— VietnamPlus

More than half of processing and manufacturing firms expect to perform better in Q2
Meanwhile, 10.6 per cent said business is going to get more difficult.
— Viet Nam News

Food and beverage firm posts highest cash dividend payout rate
Coffee maker Vinacafe Biên Hòa maintains its top positions on the Vietnamese stock market in terms of cash dividend payout rate.
— Viet Nam News

YSI Asia Convening 2019 kicks off in Hà Nội
Hundreds of young scholars from all over Asia are discussing new economic thinking and presenting their research at YSI Asia Convening 2019, taking place in Hà Nội from August 12 to 15.
— Viet Nam News

Standard Chartered expects Việt Nam to be ASEAN outperformer
Standard Chartered forecasts Việt Nam to remain the fastest-growing ASEAN economy in the near term, with 2019 growth projected at 6.9 per cent.
— Viet Nam News

Nội Bài Airport’s adjustment plan to be publicised this year
The Ministry of Transport will announce the adjustment planning of Nội Bài International Airport in the third quarter of this year.
— Viet Nam News

South Korean investment fund offloads 8 pct stake in Coteccons
Korea Investment Management sold most of its stake in construction giant Coteccons after a third straight quarter of declining profits.
— VnExpress

Vietnam medical equipment market grows 18%-20% in 2016-2020
Demand for better healthcare in Vietnam over the past years has greatly contributed to the growth of medical device market.
— The Hanoitimes

Vingroup-backed Vinpearl Air sets sight for take-off in July 2020
Vinpearl Air plans to add six planes on average per year to its fleet to reach a total of 30 by 2024, including 21 narrow-body and 9 wide-body aircraft.
— The Hanoitimes

Mobile virtual network operators find it hard to exist in Vietnam
The first mobile virtual network operator (MVNO) has been providing service for three months, and more MVNOs are expected to be launched. However, experts believe that it will be difficult to succeed in current conditions.
— Vietnam Insider

Hanoi busts $69 million online gambling ring
The Vietnamese police have busted a gang that allegedly helped gamblers bet VND1.6 trillion ($69 million) through b8ag.com and arrested 13 people.
— VnExpress

Vietnam-based EloQ Communications officially launches EloQ’s Newsroom
EloQ Communications (formerly Vero IMC Vietnam), a public relations and integrated marketing agency based in Vietnam, has officially launched its online newsroom, featuring all the press releases EloQ sent out for its clients and EloQ’s own releases.
— The Cheatnut Post

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