Vietnam Morning News For August 28

Vietnam intends to provide a 5G network without China’s tech
Vietnam is intent on being the first Asean nation to provide a 5G network — without China’s tech powerhouse Huawei Technologies Inc. Bloomberg reports.
— Vietnam Insider

MoIT accepts new C/O form E for imports
The Ministry of Industry and Trade (MoIT) late last week informed the Ministry of Finance’s General Department of Customs to accept a new C/O (certificate of origin) form E in accordance with the ASEAN-China Framework Agreement on Comprehensive Economic Cooperation.
— Viet Nam News

Banks required to tighten control over credit cards
The State Bank of Vi?t Nam (SBV) has directed commercial banks to tighten control over credit card payments to prevent the improper use of credit cards.
— Viet Nam News

‘Work and holiday maker’ visa program for Vietnamese expanded
Australia has expanded the number of Work and Holiday Maker visa places available to young Vietnamese people, upping our annual intake from 200 to 1,500 a year. Work and Holiday visa holders who work in cropping, horticulture and livestock jobs in regional Australia become eligible for a second and third visa to extend their for up to three years.
— Fresh Plaza

Vietnam’s farming exports reach US$26.58 billion
Vietnam’s agricultural exports in the first eight months of 2019 were estimated at US$26.58 billion, up 1.6% over the same period of last year.
— NDO

Vietnamese fruits & vegetables exports to China have dropped off
Last July, Vietnam exported $144.2 million worth of vegetables and fruit to China, down 44.2 % year-on-year. This was the strongest decline amongst Vietnam’s high 10 export markets for vegetables and fruit (China being the most important market).
— Fresh Plaza

FDI disbursement up 7.1% to US$12 billion in Jan-Aug
Disbursement of FDI projects in Vietnam totaled US$12 billion in the first eight months this year, representing an increase of 7.1% year-on-year, a report of the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment has shown.
— The Hanoitimes

Mobile platform Kobiton raises $5m from BIP Capital
Kobiton, a US-based mobile testing platform with an R&D team in Vi?t Nam, has successfully raised US$5.2 million in new capital to continue growing its mobile app experience business.
— Viet Nam News

US-China trade war brings more challenges than opportunities: Vietnamese firms
Many Vietnamese enterprises are keeping a close eye on the escalating US-China trade war and have said the challenges from it outnumber the opportunities for them.
— Viet Nam News

Australia: Press Vietnam to Respect Rights
The Australian government should press the Vietnam government to respect human rights at the 16th Australia-Vietnam human rights dialogue on August 29, 2019, in Canberra, Human Rights Watch said today.
— Human Right Watch

Vietnam Airlines employee returns lost bags to passengers
An employee of Vietnam Airport Ground Services Company Limited (VIAGS), a subsidiary of Vietnam Airlines, has found and returned assets worth nearly VNĐ1 billion (US$43,000) to two passengers.
— Viet Nam News

Vietnam’s banks requested tighter control over corporate bonds
In the first six months of 2019, total corporate bond issuance reached VND116 trillion (US$5 billion), up 7.4% year-on-year, including VND36.7 trillion (US$1.58 billion) from commercial banks, and VND22.12 trillion (US$953.53 million) from realty firms, among others.
— The Hanoitimes

Trade deals bring more foreign investment but also challenges
With its series of recent free trade agreements, Vi?t Nam is becoming very attractive to foreign businesses, especially in the textile and garment sector.
— Viet Nam News

New Zealand, VN sign deal to develop start-up, innovation eco-systems
The HCM City’s Department of Science and Technology and New Zealand’s Creative HQ signed a MoA for co-operation to develop the city’s start-up and innovation environment.
— Viet Nam News

Five more officials prosecuted in Mobifone’s AVG purchase case
The Investigation Police Agency under the Ministry of Public Security has begun legal proceedings against another five officials of the State-owned telecommunications giant Mobifone for their role in a major corruption case.
— Viet Nam News

Due Diligence in Vietnam: Legal and Financial Aspects in the M&A Process
Mergers and Acquisitions (M&A’s) are an increasingly popular route for foreign investors looking to begin operations in Vietnam – and due diligence is a key component of the M&A process.
— Vietnam Briefing

VN stocks drop on global pressures
Vietnamese shares were subdued on Monday as market sentiment was dragged down by the escalation of the US-China trade war.
— Viet Nam News

Vietnamese agricultural brands honoured
The Vi?t Nam General Council of Agriculture and Rural Development on Sunday held a ceremony to honour Vi?t Nam’s gold farming brands 2019.
— Viet Nam News

Five more MobiFone officials prosecuted for involvement in AVG scandal
Related to MobiFone’s AVG purchase case, the Supreme People’s Procuracy of Vietnam has approved the implementation of legal proceedings agains five officials of the State-owned telecommunication giant MobiFone.
— Vietnam Insider

Labor ministry proposes two options for next Tet break
After considering the two options, both of which are poised to last seven days, the ministry considered the former is more suitable.
— The Hanoitimes

Vietnamese healthcare startup Med247 gets seed funding from KK Fund, broadens users coverage
Med247 manages to secure its seed funding round prior to its business launch Med247, an offline-to-online (O2O) healthtech startup that facilitates app-based post-treatment after offline visit to its clinic in Vietnam, announces an undisclosed amount of investment from KK Fund, a venture capital (VC) firm that mainly invests in seed-stage internet.
— e27

The first destination of Boeing 787-10 of Vietnam Airlines is Seoul
Vietnam Airlines has officially scheduled Boeing 787-10 service. After taking delivery of the new aircraft, Vietnam Airlines told Simple Flying the first routes would be to Seoul and Ho Chi Minh City.
— Vietnam Insider

Northwest Ðà N?ng urban shopping centre to open
Trungnam Land Joint Stock Company, a member of Trung Nam Group, and VV Mall – a luxurious shopping centre – have agreed to develop the first shopping-entertainment centre on the newly debuted Ðà N?ng Information Technology Park (DITP) Tower at Golden Hills urban area.
— Viet Nam News

Over 73.2 mln USD to develop hi-tech agriculture projects in Binh Phuoc
More than 1.7 trillion VND (73.2 million USD) will be invested in three high-tech agriculture projects in the southern province of Binh Phuoc, under an agreement inked between the provincial People’s Committee and its partners on August 26.
— VietnamPlus

Mooncakes likely to be better, choices wider this Mid-Autumn Festival
For this Mid-Autumn Festival many mooncake brands are increasing their output and varieties and focusing on environment-friendly packaging.
— Viet Nam News

Hanoi seeks investment, cooperation from Greece, Denmark
A delegation of Hanoi’s officials has visited Greece and Denmark to seek investment and cooperation in tourism from the two European countries.
— The Hanoitimes

Market’s best perfomers lose steam due to difficulties
A series of best-performing stocks on the Vietnamese stock market are losing their steam due to poor business performances.
— Viet Nam News

Localities build night entertainment plans
In many cities and provinces, local authorities are moving ahead with plans to develop night entertainment services, such as walking streets and night markets to attract travelers and develop local economies.
— Vietnam Insider

Hanoi offers free bus rides to prioritized from September
The benefit is expected to even cover those needy people having no papers proving they are Hanoi’s residents and children under six year old.
— The Hanoitimes

Rooftop solar power expected to reach 2,000MW by 2020
The Electricity of Vietnam (EVN) anticipated thatthe capacity of rooftop solar power will reachapproximately 2,000 MW by the end of 2020,contributing to ensuring power security.
— NDO

Mobile stairs punch hole in Vietnam Airlines plane at Saigon airport
A mobile boarding ramp accidentally punched a hole in a Vietnam Airlines Boeing 787-9 aircraft at Saigon airport last week.
— VnExpress

HCM City authorities admit to big housing shortage
Ho Chi Minh City faces a housing shortage caused by the rapidly rising population and shortage of new housing projects.
— VietnamPlus

Grab to invest ‘several hundred million dollars’ in Vietnam
Singapore-based ride-hailing firm Grab is set to invest “several hundred million dollars” in Vietnam, where the company sees its next major growth market, just weeks after it unveiled a US$2 billion (S$2.8 billion) plan in Indonesia.
— The Straits Times

Vietnam C-130 arrives at National Warplane Museum
The National Warplane Museum had a visit from Worldwide Aircraft Recovery over the past week to deliver the fuselage of the C-130A aircraft flown out of Saigon in the Vietnam War.
— Evening Tribune

Singapore hotel booking platform raises $70 mln to build Vietnam tech hub
Hotel booking platform RedDoorz has raised $70 million in a Series C funding round for setting up a tech hub in Vietnam.
— VnExpress

Management of fresh fruit stores sees marked improvement
A pilot project to enhance the management of fresh fruit stores in Hanoi has improved consumer awareness of food safety, but sellers’ adherence to food safety regulations remains a problem.
— VietnamPlus

Large room for Vietnam-Botswana cooperation: PM
Vietnam and Botswana have enormous potential to enhance collaboration in the fields of their strengths like agriculture, seafood and healthcare, among others, Prime Minister Nguyen Xuan Phuc said on August 26.
— NDO

Capital contribution, share purchase of foreign investors increase heavily
Although newly-registered foreign direct investment (FDI) capital touched US$9.1 billion, down 32 percent and additional capital was at $3.9 billion, down 28.6 percent, capital contribution and purchase of shares hit $9.5 billion, up 82 percent compared to that in 2018.
— Sggp News

Hospitals honoured for breastfeeding
The Ministry of Health in collaboration with Alive & Thrive on August 26 announced two hospitals as Centres of Excellence for Breastfeeding, including Tran Van Thoi Hospital in southern Ca Mau province and Can Tho Gynaecology and Obstetrics Hospital in the Mekong Delta city of Can Tho.
— VietnamPlus

View of Imperial Citadel of Thang Long in Vietnam
Two visitors walk in the Imperial Citadel of Thang Long in Vietnam’s capital Hanoi, Aug. 23, 2019. The Imperial Citadel of Thang Long was built in the 11th century. Situated at the heart of Hanoi, the central sector of the Imperial Citadel of Thang Long was inscribed on the World Heritage List by the UNESCO in 2010.
— Global Times

Vietnam’s efforts in promoting ASEAN cooperation applauded
Secretary General of the Association of Southeast Asian Nations (ASEAN) Lim Jock Hoi lauded efforts by the Vietnamese Government and businesses in developing cooperation between the ASEAN member countries, while addressing a seminar in Hanoi on August 26.
— NDO

Weakening yuan underpins surge in Chinese exports to Vietnam
Vietnam’s imports from China rose by 18.4 percent year-on-year in the first seven months as the yuan weakened amidst the trade war.
— VnExpress

J&J ordered to pay $572 million for opioid addiction crisis
An Oklahoma judge on Monday ordered US health care giant Johnson & Johnson to pay US$572 million in damages for its role in fostering the state’s opioid addiction crisis.
— Viet Nam News

Domestic gold prices shoot up to VND43 million per tael
Gold prices in Vietnam surged to VND43 million (US$1,849) per teal on the morning of August 26 in tandem with the current global upward trend and setting a record high in seven years.
— NDO

Int’l healthcare expo to be held in Vietnam’s HCM City
An international exhibition on medicine and healthcare will take place here on Sept. 11-14, its organizers said on Tuesday.
— Xinhua

Vietnam vibrant with merger and acquisition activities
The merger and acquisition (M&A) scene in Vietnam has become increasingly active with more domestic firms setting up ties with global partners so their brands can reach global customers and develop domestically.
— VietnamPlus

Vietjet Partners Flying Eye Hospital
Commemorating the 17th year of partnership with Vietnam’s eye care services and the 10th year of operating the Flying Eye Hospital (FEH) program in Vietnam, Orbis has signed a MOU with Vietjet to bring eye care services to the Vietnamese.
— Asia Travel Trips

International volleyball tourney opens in Vietnam
An international volleyball tournament kicked off on Monday in Vietnam’s southern Vinh Long province, featuring 10 teams from five countries.
— Xinhua

Feature photo Prachatai English

This week’s Vietnam morning news feature photo focus on International Day of the Victims of Enforced Disappearances, August 30.

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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