Vietnam Morning News For August 16

Vietnam’s e-commerce market may rank third in Southeast Asia
Vietnam could have Southeast Asian’s third-largest e-commerce market by 2025. The information was released during the Vietnam online marketing forum in Hanoion August 14.
— Viet Nam Net

Vietnam speeds up tourism cooperation with Southeast Asian countries
The Vietnam National Administration of Tourism yesterday hosted the sixth Meeting of Greater Mekong Sub-region (GMS) Southern Tourism Corridor with representatives of tourism agencies from Vietnam, Cambodia, Thailand, Myanmar and the Mekong Tourism Coordinating Office (MTCO) in the Mekong Delta city of Can Tho.
— Sggp News

Vietnam aims to sell stakes in nearly 100 state firms by end of 2020
Vietnam plans to speed up its privatisation programme by selling stakes in nearly 100 state-owned firms by the end of 2020, including Agribank, the government said late on Thursday.
— Reuters

Bank credit growth likely to fall below target: securities firms
Securities companies forecast banking credit growth this year to be 12-13 percent, lower than the central bank’s 14 percent target.
— VnExpress

Vietnam among 12 most valuable markets for global franchise expansion
The International Franchise Association ranked Vietnam eighth out of the 12 most valuable markets for global expansion, according to Nguyen Phi Van, chairwoman of Retail & Franchise Asia.
— VietnamPlus

Labor productivity lowest in domestic private sector
The domestic private sector has the lowest productivity in Vietnam, where the public sector tops the list.
— VnExpress

Audit Your Suppliers When Sourcing in Vietnam
Many foreign investors diversifying their supply chains are choosing Vietnam to manufacture and export their products. However, these supply chain shifts can bring new challenges to a business, including labor problems, poor factory conditions, or product quality issues.
— Vietnam Briefing

Bamboo Airways okayed to expand fleet to 30 jets
Budget carrier Bamboo Airways has received permission to operate 30 aircraft by 2023, improving its profit-making chances.
— VnExpress

Despite Trump’s Tariffs, Vietnam’s FDI Will Grow
With no clear sign that the Sino-US trade dispute will be over anytime soon, multinational firms have increasingly shifted their manufacturing from China to Vietnam to avoid US tariffs and to find new low-cost suppliers in Asia. As a result, Vietnam’s realized foreign direct investment (FDI) capital has risen by 7.8 percent in the first five months of 2019, totaling about $7.3 billion.
— Yahoo News

Public security minister affirms support for Google
Minister of Public Security To Lam has affirmed that the ministry always welcomes and facilitates foreign enterprises, individuals and organisations, including Google, to do long-term business in Vietnam.
— NDO

Manufacturing and support industry expos open in Hà Nội
Two major events on manufacturing and support industries opened at the Hà Nội International Exhibition Centre on Wednesday, creating business opportunities and aiming to increase the use of local parts for the domestic machinery and support industries.
— Viet Nam News

Asia Rice: Vietnam struggles to find new buyers as Chinese demand dwindles
Export prices of rice from Vietnam fell this week as the country struggled to find new buyers amid waning demand from China, while a drought continued to squeeze supply in Thailand and a weak rupee weighed on rates for the Indian variety.
— Yahoo news

Vietnam, Singapore, Indonesia lead in BRI opportunities
VIETNAM, Singapore and Indonesia are seen as the markets in Asean and South Asia with the most opportunities related to China’s Belt and Road Initiative (BRI), according to a survey by the Singapore Business Federation (SBF) and PwC Singapore.
— Business Times

Hundreds in Vietnam Protest Dam Upgrade, Fearing Floods
Hundreds of residents in a largely Catholic district of central Vietnam’s Quang Binh province protested on Thursday to oppose the enlargement of a local dam, saying that an increase in the dam’s height will raise the risk of floods, Vietnamese sources said.
— Radio Free Asia

VinaCapital Ventures invests in Vietnamese logistics startup An Vui
Vietnam-based VinaCapital Ventures has invested in An Vui, a transportation management system startup, according to an announcement.
— DealStreetAsia

Solutions needed to ensure State budget collection: resolution
The Government on August 13 issued a resolution asking for the Ministry of Finance to ensure the completion of State budget collection in 2019, as well as strict management over the budget.
— VietnamPlus

Hanoi needs to learn international experience in urban solid waste management
Hanoi is advised to head the country in urban solid waste management to meet demand for circular economy development, based on technological diversification.
— The Hanoitimes

Vietnam products for domestic use no longer labeled as “Made in Vietnam”
Among Vietnamese, there is no need for foreign language as means of communication, said the trade ministry.
— The Hanoitimes

HCM City seeks to clean up public bus subsidy regime
HCM City has ordered its Department of Transport to review the subsidies paid to bus companies after inspectors recently concluded they have indulged in fudging of figures and other wrongdoing to get larger subsidies since 2011.
— Viet Nam News

Goodbye China: Chinese manufacturers look to Vietnam
Chinese companies are following their foreign counterparts out of the country in search of alternative production bases to mitigate the impact of the prolonged trade war with the U.S. Nikkei reports.
— Vietnam Insider

US cotton exports fall in major markets outside Vietnam
Despite lower cotton exports to most major markets, United States’ exports to Vietnam, its top market, continued another positive year of growth.
— Fibre2fashion

Identifying opportunities for Vietnamese firms in the context of EU trade deal
The EU-Việt Nam Free Trade Agreement would provide a big impetus to Việt Nam’s exports to the EU and be key to Vietnamese companies penetrating one of the largest and most lucrative markets in the world, experts have said.
— Viet Nam News

Việt Nam must be more active in exporting fruit
Nguyen Quý Dương, deputy director of the Ministry of Agriculture and Rural Development’s Plant Protection Department, spoke with Hải quan (Customs) newspaper about China’s import policies and the need to improve the quality of Vietnamese fruits to meet the stricter standards.
— Viet Nam News

Security, fire safety, rescue exhibition opens in HCM City
The International Fire Safety and Rescue and Security Technology and Equipment Exhibition and Conference opened in HCM City yesterday (August 14).
— Viet Nam News

Nghệ An to host VN-Thailand trade forum
During the event, 500 entrepreneurs from Việt Nam and Thailand as well as overseas Vietnamese firms will share their experience and discuss new business models.
— Viet Nam News

Digital economy to bring new momentum for VN
Việt Nam has several advantages in terms of the digital economy.
— Viet Nam News

Forest school opens in Đà Nẵng
Central Việt Nam’s first forest school has been launched in Sơn Trà Nature Reserve to provide an outdoor education site for school students in the central city of Đà Nẵng.
— Viet Nam Net

Hà Nội debates measures to clean up Tô Lịch River
Many people have raised concerns over the wastewater of the cleaning progress of Tô Lịch River.
— Viet Nam Net

Tây Ninh to get safe dairy cow breeding area
The province has a total 13,353 dairy cows, with the two key breeding areas of Bến Cầu District (with 8,000 cows of Vinamilk farm) and Trảng Bàng District (5,300 cows) producing 29,137 tonnes of milk per year.
— Viet Nam News

Securities regulator unveils corporate governance code
The first ever Việt Nam Corporate Governance Code of Best Practices, a set of recommended practices for Vietnamese public companies, has been issued by the State Securities Commission of Việt Nam.
— Viet Nam News

Vietnam risks debt ‘crutches’ without skills transfer: Economist
VIETNAM remains an economic success, despite raging trade tensions worldwide, but one observer has called urgently for skills transfer, to address a so-called “dual economy”.
— Business Times

Vietnam cross-border e-commerce platform Fado eyes expansion
“Vietnam has so many quality products but local suppliers don’t have an official platform to sell them worldwide,” Fado CEO Pham Tan Dat said.
— Retail News

Vietnam shows persistent, consistent efforts to maintain peace, stability at sea
Vietnam has long been persistent and consistent in safeguarding its national sovereignty in the East Sea through peaceful measures on the basis of international law to maintain peace, stability, security and cooperation at sea for the legitimate interests of all parties.
— VietnamPlus

Japanese businesses want to purchase more Vietnamese components
The eighth Vietnam-Japan Supporting Industries Exhibition and the 11th Vietnam Manufacturing Expo were opened at Viet Xo Friendship Labour Cultural Palace in Hanoi yesterday.
— Sggp News

Vietnam promotes tourism in Argentina
The Vietnamese Embassy in Argentina held an event on August 14 to introduce Vietnam’s tourism potential to representatives of many Argentinian travel agencies.
— NDO

Union Bridge to honor Vietnam veteran with road signs on Route 75
On Monday, the Veterans of Foreign Wars will dedicate road signs on Route 75 to a Carroll County veteran who was killed in Vietnam in 1968.
— Baltimoresun

Facebook must identify account users: Vietnamese government
Vietnam’s government has told Facebook to identify users behind its Hanoi and HCMC accounts and remove fake news ads.
— VnExpress

KiotViet gets US$6M Series A funding from Jungle Ventures, Traveloka, eyeing expansion
POS software provider KiotViet becomes the first deal Jungle Ventures made in Vietnam Vietnam-based POS/store management software firm KiotViet announced that it has raised US$6 million in Series A funding from venture capital firm Jungle Ventures and Indonesian traveltech giant Traveloka.
— e27

Men arrested over pine trees poisoning in an attempt to take over forestry land
According to initial findings, Hùng, a former banker in Bảo Lâm District, hired the other defendants to destroy nearly 6,500sq.m of 30-year-old pine forest.
— Viet Nam Net

Adoption of circular economy vital to solid waste settlement
Businesses which reuse materials are the lifeline of Viet Nam’s environmental future, a workshop in Hà Nội was told on Wednesday.
— Viet Nam Net

Việt Nam, Uruguay ink trade, investment agreement
The trade and investment promotion agencies of Việt Nam and Uruguay inked a memorandum of understanding on Wednesday on co-operation between the two sides
— Viet Nam News

Kiên Giang vows to provide best conditions for investors
The Cửu Long (Mekong) Delta Province of Kiên Giang has pledged to further improve its competitiveness and investment climate, making it easy for investors to do business, Secretary of the provincial Party Committee, Nguyen Thanh Nghị, said.
— Viet Nam News

Vietnam’s tech major CMC to set up Korean subsidiary to expand global footprint
CMC Corporation, Vietnam’s second-largest technology company by market share, is looking to set up a subsidiary in South Korea as it plans to expand its global footprint, said a senior company executive.
— DealStreetAsia

Vietnam’s fine arts in the whirlwind of technology
The fourth Industrial Revolution (Industry 4.0) has not only brought about advantages for artists to innovate their ways of creation and advertise their art to the public but also requires them to keep themselves updated on technological advances and meet the raising modern-day demand.
— NDO

Vietnam’s Vinpearl Air targets early 3Q20 launch
Vietravel Airlines, a start-up aiming to begin commercial flight operations in late 2020, could get a major cash boost as parent company Vietravel, Vietnam’s biggest tour operator, seeks to raise VND700 billion dong (USD30.15 million) from the sale of a non-convertible two-year bond to fund the project.
— Ch-aviation

Feature photo ILO Asia-Pacific

This week’s Vietnam morning news feature photo focus on life throughout the Asean Community.

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).

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