Vietnam Morning News For August 5

Huge opportunities await foreign investors in Vietnam’s telco industry
Vietnam’s telecommunication market is becoming more attractive to foreign investors as it has returned to the growth path in the first half of 2019 after a long period of saturation.
— The Hanoitimes

Vietnam’s Longest Serving Female Prisoner of Conscience Released from Prison
Authorities in Vietnam released an activist who had been one of the country’s longest serving political prisoners Friday, after she had endured eight years detention for documenting peaceful demonstrations.
— Radio Free Asia

Vietnam ministry announces criteria for “made in Vietnam” products amid rampant trade fraud
In addition to having a localization rate of 30%, made-in-Vietnam products are required to be partly produced in Vietnam, not just basic processing.
— The Hanoitimes

Vietnamese businesses invest US$277.4 million abroad
Vietnamese enterprises invested US$277.4 million in 30 countries and territories in the first seven months of this year, the Ministry of Planning and Investment’s Foreign Investment Agency (FIA) said in its latest report.
— NDO

US remains largest importer of Vietnam in seven months
The US was the largest importer of Vietnam in the first seven months of 2019 with a turnover of US$32.5 billion, a year-on-year surge of 25.4 percent, according to the Ministry of Industry and Trade.
— Sggp News

China Becomes Third Major Investor in Vietnam
China allocated a large amount of capital in the first seven months of 2019 to Vietnam, thus becoming the third major investor in the Indo-Chinese nation.
— Plenglish

Vietnam to push for greater transparency in Chinese-funded projects
For Chinese-funded projects with specific requirement of selecting Chinese contractors, there are concerns over project quality and implementation progress, particularly the engineering – procurement and construction (EPC) form of contracts.
— The Hanoitimes

Silencing Vietnam’s activists
Recently, a Vietnamese court sentenced an anti-corruption activist to 30 months in jail for causing public disorder. According to the state-owned Tien Phong newspaper, activist Ha Van Nam was accused of inciting drivers to repeatedly block a highway toll station in Bac Ninh province to protest against newly applied fees that Nam considered to be unfair for local residents.
— The Asean Post

80 percent of strikes in Vietnam occur at foreign companies
Foreign enterprises accounted for 82.1 percent of workers’ strikes in January-June, according to a government report.
— VnExpress

Vietnam tech company pledges US$10M fund for early-stage startups
The main purpose that the fund aims is to provide coaching for startup founders so they can raise larger rounds of capital from other local and international investors as part of scale-up plans, as reported by DealStreetAsia.
— Vietnam Insider

Typhoon Wipha leaves one dead, 15 missing in Vietnam
Hanoi: Typhoon Wipha, the third tropical storm to strike Vietnam so far this year, has left one person dead and 15 others missing according to state media.
— Times of Oman

Toilets from Japan becoming a symbol for the rich in Vietnam
High-tech toilets with bidet functions and heated seats have joined automobiles and beauty products as Japanese-made status symbols for wealth in Vietnam, according to industry insiders.
— Asahi

Is There Strength Behind the Numbers For Vinacapital Vietnam Opportunity Fund Ld (VOF.L)
Shares of Vinacapital Vietnam Opportunity Fund Ld (VOF.L) are on watch as they closed the most recent session above the Parabolic SAR line. The current level of the shares currently stands at 349.00 at the time of writing.
— Chander Caller

Federica Mogherini in Hanoi to sign EU-Vietnam defence deal
The European Union’s chief diplomat Federica Mogherini will sign a defence agreement with Vietnam today.
— Foreign Brief

PE firm Navis said to mull exiting investment in Hanoi French Hospital
Southeast Asia-focused private equity firm Navis Capital Partners is looking to exit its investment in Vietnam’s Hanoi French Hospital (HFH), people familiar with the development told DealStreetAsia.
— DealStreetAsia

As Vietnam’s Economy Booms, More Luxury Buyers Emerge
Over the past decade, Ho Chi Minh City’s skyline has been redefined by increasingly flashy towers of glass and steel, bold symbols of the country’s economic advancement and growing luxury property market.
— Mansion Global

Raped, beaten and sold in China: Vietnam’s kidnapped young brides
More young girls from Vietnam are ending up in forced marriages in China, where the gender imbalance has created a demand for foreign brides, as Insight discovers.
— Channel NewsAsia

Việt Nam seeks to protect migrants’ rights
Improved international regulations and standards to protect the rights and welfare of migrants, including thousands of Vietnamese guest workers, are needed in today’s globalised world, speakers said at an international conference on migration and labour held yesterday in HCM City.
— Viet Nam News

Việt Nam turns attention to training human resources for tourism
Việt Nam needs a holistic approach to developing human resources for continued success in tourism, experts have said.
— Viet Nam News

Quang Nam earns nearly VND10 billion from Ngoc Linh ginseng
Local farmers in Nam Tra My district, Quang Nam province sold approximately 110kg of Ngoc Linh ginseng, earning nearly VND10 billion (US$430,000), at the third Ngoc Linh Ginseng Festival 2019 held in the district on August 1-3.
— NDO

Son La launches export of locally-grown longan
The northern mountainous province of Son La held a ceremony in Song Ma district on August 3 to open the Song Ma Longan Festival and announce the export of 60 tonnes of longan to China and other countries.
— NDO

Vietnam tourist sites face challenges from overcrowding
Hanoian Nguyen Huy Ha and his family still remember clearly their experience on a tour from the capital city to the town of Tam Dao in the northern mid-land province of Vinh Phuc in May.
— Inquirer.net

Vietnamese chili sauce introduced in Japan
Vietnamese-based Masan Consumer Holdings introduced its Chinsu-branded chilli sauce in Japan at the Vietnam Food Day held by the Vietnamese Consulate General in Osaka on August 3.
— VietnamPlus

Good short-term effects for Vietnam after Fed’s rate cut
The US Federal Reserve (Fed)’s latest rate cut will benefit commodity and equity markets in the short term, according to specialist Nguyen Tri Hieu.
— VietnamPlus

Vietnam attends RCEP Intersessional Ministerial Meeting in China
Deputy Minister of Industry and Trade Tran Quoc Khanh led a Vietnamese delegation to attend the 8th Regional Comprehensive Economic Partnership (RCEP) Intersessional Ministerial Meeting which took place in Beijing, China, on August 3.
— Sggp News

Vietnam English teaching school gets $10 mln from foreign investor
Singapore- and India-based education investment fund Kaizen Private Equity has invested $10 million in English teaching institute YOLA.
— VnExpress

Transport ministry prefers Vietnamese aviation firm as Long Thanh Airport investor
The Transport Ministry highly recommends that funding for the nation’s biggest airport is mainly sourced from the Airports Corporation of Vietnam.
— VnExpress

Key Vietnam projects lacking capital
Over the last 10 years, key infrastructure projects have been repeatedly delayed by capital shortage.
— VnExpress

Expats in Vietnam earn $78,750 per year, higher than global average
According to a recent survey by HSBC, the reasons for higher disposable income are lower cost of living (e.g. accommodation, schooling, transport, medical bills), increased earnings and expats’ employers covering some of their living costs and expenses, respondents said.
— Vietnam Insider

Vietnamese banks ride the retail tide: The Banker
Vietnam’s leading banks have experienced rapid growth over the past three years, riding high on an explosion of retail lending.
— Vietnam Insider

Japan’s Sharp to build automotive LCD plant for US market in Vietnam
Along with the US-bound car display screens, which will incorporate LCD panels made in Japan, the plant will make air purifiers and other electronics for sale in Vietnam.
— The Hanoitimes

Vinamilk continues to lead Forbes Vietnam’s top 50 brands list
Vietnam’s biggest dairy company Vinamilk said on August 2 that it is maintaining the leading position in Forbes Vietnam’s list of top 50 brands in 2019, with its brand value exceeding 2.2 billion USD.
— VietnamPlus

Hanoi to build digital traffic map for drivers as congestion worsens
Hanoi is planning to build a real-time digital traffic map system similar to Google Maps within the year, according to the city’s transport department.
— Eleven Myanmar

Can Tho city works to foster economic ties with Russia
The Mekong Delta city of Can Tho introduced its advantages and cooperation prospects at a conference in Moscow on August 2 in an effort to boost investment, trade and tourism links with Russian businesses.
— VietnamPlus

Unexpected Increase in Dengue Cases in Vietnam
Dengue cases in Vietnam have risen to more than 105,000 so far this year, more than three times higher than in the same period in 2018, while the number of deaths has climbed to 10.
— Plenglish

VN stocks forecast to move down in August
The Vietnamese stock market last week suffered after having rallied for four consecutive weeks amid negative news from the international markets.
— Viet Nam News

RMG global market share: Bangladesh loses as Vietnam gains
Bangladesh suffer the loss despite having enormous scope to gain from the shifting business from China due to tariff war with the USA
— dhakatribune

Feature photo The Paper Planes Blog

This week’s Vietnam morning news feature photo focus on International Day of the World’s Indigenous Peoples, August 9.

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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