Vietnam Morning News For December 27, 2019

New code of conduct to be introduced in 2020 for brokers and securities firms
A new code of conduct will be introduced in 2020 to improve the ethical standards of brokerage firms and brokers, according to the Vietnam Association of Securities Businesses (VASB).
— Viet Nam News

Vietnam’s 4%-inflation target for 2020 challenging but feasible: Deputy PM
The inflation is estimated to be in range of 3.59 – 3.91% for 2020, much higher than the rate of 2.7 – 2.8% for this year.
— The Hanoitimes

Lotte shutdowns e-commerce website in Vietnam
South Korean multinational conglomerate plans to close its e-commerce website Lotte.vn in Vietnam from January 20 to restructure its business plan.
— Vietnam Insider

Vietnam mulls tariffs to protect its coil producers
Vietnam is mulling tariffs on flat steel imports to protect its domestic steelmakers in the face of lower-cost overseas shipments and new capacity in 2020, adding to oversupply in the market.
— Argus Media

Viet Nam strives for $4 billion in cashew exports next year
According to the Vi?t Nam Cashew Association (Vinacas), the sector will focus on deep processing, improving quality and diversifying products towards realising the goal.
— Viet Nam News

Vietnam Wants to Be Next Singapore
As the only Southeast Asian nations in what was once called the TPP trade agreement, Vietnam and Singapore seem far apart.
— VOA

AirPods Suppliers Want to Expand Into Vietnam
AirPods launched in 2016, and AirPods Pro launched in 2019, and they continue to be a massive success.
— Macobserver

What’s in the New Vietnam-Cambodia Search and Rescue Exercise?
The new interaction highlighted some of the ongoing activity in the defense relationship amid wider challenges that ties continue to face.
— The Diplomat (paywall)

Remittances to Vietnam in 2019 estimated at US$16.7 billion
Remittances sent home by Vietnamese expatriates in 2019 were estimated at US$16.7 billion, revealed a Vietnamese official, citing World Bank data.
— NDO

Vietnam’s pork imports more than double amid swine fever outbreak
Vietnam’s pork imports during the first 11 months of this year more than doubled to 110,000 metric tonnes, the Ministry of Finance said on Thursday, as the country’s pig herd has been battered by an outbreak of African swine fever.
— Reuters

Franchising in Vietnam, One of Asia’s Fastest-Growing Markets
My first visit to Vietnam was in November 2008 when international franchises were just starting to appear in the country, and the GDP per capita on a purchase power parity basis (PPP) was US$4,200.
— Franchising.com

Technology investors spurred by Vietnam’s robust growth
Kosmo, the latest highrise residential and commercial development in Bac Tu Liem District, a new, upmarket suburb west of Hanoi, is approaching completion. One Friday afternoon, Thanh Thuy, a 38-year-old resident, steps out of a street-level cafe to receive a parcel from green-uniformed Giaohangnhanh deliveryman. Thuy has no wallet.
— Nikkei Asian Review (paywall)

No power shortages in 2020, PM orders
The Prime Minister has ordered that there are no power shortages next year, when demand is set to rise by 9.2 percent.
— VnExpress

Vietnamese Authorities Block Detained Writer’s Access to Lawyer During ‘Investigation’
Vietnamese authorities are blocking defense lawyers from speaking with a journalist detained for criticizing Vietnam’s government, saying that their investigation into the writer’s case has not yet finished, one of the two attorneys told RFA on Thursday.
— Radio Free Asia

Ensuring power supply is a must: Vietnam PM
The PM demands no power shortage for economic development in the coming years.
— The Hanoitimes

Best Places to Watch New Year’s Eve 2020 Fireworks in Ho Chi Minh City
New Year’s Eve is almost upon us and in Ho Chi Minh City that means fireworks. The 15 minute show is a huge attraction and pulls thousands into the city centre and causing chaos on the roads in and out of town.
— Vietnam Insider

Americans are retiring to Vietnam, for cheap healthcare and a decent living standard
When John Rockhold drew a low number, No. 12, in the 1971 draft lottery, his adolescence in the San Fernando Valley forever changed. Seeking to avoid the Army, he signed up for the Navy just after graduating from Granada Hills High School.
— LA Times

Untangling Christmas lights: How Vietnam gains from the trade war
Christmas light shipments to the US from Vietnam have more than doubled this year, while those from China have plunged.
— Aljazeera

Viet Nam – Cambodia border market expected to boost two-way trade
Ða market, the first Cambodia – Vi?t Nam model border market is expected to boost cross-border trade and leverage economic cooperation between the two countries.
— Viet Nam News

Khanh Hoa bans selling tourism real estate projects to foreigners
Department of Construction of Khanh Hoa province had sent an official letter to request 129 investors of tourism real estate projects in districts of Cam Lam and Van Ninh, Ninh Hoa town, Nha Trang city and Cam Ranh city about not selling tourism real estate to foreign organizations and individuals.
— Sggp News

VPBank settles US$129.7 million VAMC bonds
The Vietnam Prosperity Joint Stock Commercial Bank (VPBank) on Wednesday completed settling a total of VNÐ3 trillion (US$129.7 million) worth of bonds sold to the Vietnam Asset Management Company (VAMC).
— Viet Nam News

E-prescriptions to replace written versions in Vietnam
Written medical records could be on their way out, as pilot software will allow patients to use codes to access their e-prescriptions on a national online prescription system.
— Asia One (very annoying popups)

Hà Noi ensures supply of essential goods for T?t
Hà N?i’s authorities are working with local businesses to make sure shelves don’t run dry during T?t.
— Viet Nam News

Navigos Group is new strategic investor of Kyna.vn, Kynabiz.vn
Navigos Group, the HR service provider in Vi?t Nam, has become a strategic investor with a majority holding in Kyna.vn which is an online learning platform for adults and Kynabiz.vn which is one-stop e-learning solutions for business, a subsidiary powered by Dream Viet Education, according to a company press release released yesterday (Dec 25).
— Viet Nam News

Republic of Korea the largest source of Vietnam’s foreign investment in 2019
The Republic of Korea is the leading foreign investor in Vietnam in 2019, pouring 7.92 billion USD into the country, accounting for over one fifth of the total flow of foreign direct investment into Vietnam during the year.
— Vietnam Insider

Hanoi champion nationwide in FDI attraction
The majority of investment capital in Hanoi is under the form of capital contribution and share acquisition with US$6.47 billion.
— The Hanoitimes

Company, research institute in tie-up to develop new rice varieties
The C?u Long Delta Rice Research Institute and agricultural company L?c tr?i Group on December 24 signed a five-year agreement to jointly develop new rice varieties.
— Viet Nam News

Vietnam-Laos foreign ministerial-level consultation held in Quang Ninh
The sixth Vietnam-Laos foreign ministerial-level consultation was held in Ha Long City, the northern province of Quang Ninh on December 25.
— NDO

REE to raise stake in hydropower firm by nearly 30%
The Refrigeration Electrical Engineering Corporation (REE) has asked to increase its stake at Vinh Son Sông Hinh Hydropower JSC to more than 50 per cent of the latter’s capital.
— Viet Nam News

Trade promotion to focus $5.8m on key markets
Vi?t Nam is planning to launch a VNÐ136 billion (US$5.8 million) trade promotion programme in 2020, focusing on expanding key markets and enabling Vietnamese firms to join global value chains.
— Viet Nam News

FDI inflow makes new 10-year record in 2019
Total inflows of foreign direct investment (FDI) into Vietnam amounted to US$38.02 billion this year to December 20, a 10-year high, according to the Foreign Investment Agency (FIA) under the Ministry of Planning and Investment.
— NDO

Keeping power on is ‘a must’: PM
Phúc said the EVN must find solutions to deal with water shortages for hydropower reservoirs, especially during peak dry season.
— Viet Nam News

Basis to believe in Vietnamese economic growth
Despite lowering the economic growth forecast of Asia, the Asian Development Bank (ADB) revised the Vietnamese GDP growth forecast from 6.8 per cent to 6.9 per cent for 2019 and from 6.7 per cent to 6.8 per cent for 2020.
— Viet Nam News

Vietnamese bus booking platform VeXeRe raises funding to accelerate products development
Vietnam-based VeXeRe Joint Stock Company (VeXeRe), an online bus booking system provider startup, today announced the closing of its fourth fundraising round from investors Woowa Brothers, NCORE VENTURES, Access Ventures, as well as other undisclosed investors.
— e27

Bình Phu?c opens agricultural product trading floor
The Department of Industry and Trade of Bình Phu?c Province opened its agricultural product trading floor on December 24.
— Viet Nam News

WWF helps Vietnam combat wildlife trafficking
The World Wide Fund for Nature (WWF) is coordinating with forest rangers of Zone 4 to organise a training course on combating wildlife trafficking, in Buon Ma Thuot city, the Central Highlands province of Dak Lak.
— VietnamPlus

City to spend more on road infrastructure
HCM City will prioritise investment in road infrastructure if it receives permission to raise the budget revenue-retention ratio, according to HCM City Party Committee Secretary Nguyen Thi?n Nhân.
— Viet Nam News

Vietnam mulls raising foreign ownership cap in local petrol firms
Vietnam is considering raising the foreign ownership cap in petrol companies to 34 percent to attract more investors to the state-controlled energy industry.
— VnExpress

Shares recover on large-cap stocks
Shares bounced back on Wednesday as cash flow poured into large-cap stocks, pushing up indices.
— Viet Nam News

Daikin set to make ducted ceiling-mounted air conditioner in Vi?t Nam
Japanese air-conditioning giant Daikin has announced plans to manufacture commercially ducted ceiling-mounted air conditioners in Viet Nam next year.
— Viet Nam News

Vietnam seeks to develop modern livestock industry
Policies on planning, science-technology, finance, commerce and training human resources, have contributed to turning the country’s livestock industry into a strong commodity production sector.
— VietnamPlus

Abundant capital source drives rates in inter-bank market down
Interest rates in the inter-bank market are declining in contrast to previous years when the rate often increased significantly due to rising capital demand at year-end.
— Viet Nam News

Vi?t Nam beauty market boasts excellent growth potential
The personal care sector has enjoyed strong growth of 7 per cent a year on average, higher than the fast moving consumers goods (FMCG) market, thanks to the skincare and make-up segment, according to a study by global data and consulting company Kantar Worldpanel.
— Viet Nam News

Feature photo Hanoi Hotels

This week’s Vietnam morning news feature photo focus on Christmas Day, December 25.

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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