Vietnam Morning News For December 4, 2019

Vietnam Airlines asked to spell out details of plan to buy 50 jets
The Ministry of Transport has asked Vietnam Airlines for details about its plan to acquire 50 narrow-body aircraft by 2025.
— VnExpress

VinCommerce and VinEco of Vingroup will be merged with Masan Consumer
Vietnam’s real estate, tech and retail conglomerate Vingroup JSC (Vingroup) on December 03 has signed a deal with Masan Group.
— Vietnam Insider

The South China Sea conflict will dominate Vietnam’s agenda as ASEAN chair
“It’s time for us to think and act as a united and cohesive body so as to respond effectively and develop sustainably in a constantly changing world. Think as a community, act for the community.”
— Asean Today

Vietnam tightens pork imports from Thailand and Cambodia despite shortage
These two markets are not included in the 24 countries and territories having agreements with Vietnam on importing pork.
— The Hanoitimes

80% of Vietnamese dragon fruit is exported to China
In order to increase the 2019 total fruit exports to USD 3.6 billion, Vietnam’s fruit production and export industries are gearing up to develop high-quality growing areas and provide convenience for fruit processing and export, export market expansion, and the efforts of improving the status of Vietnamese fruits in the international market.
— Fresh Plaza

Chinese airlines boost Vietnam flights
Chinese airlines are adding more services to Dalat and Danang for the peak tourist season starting this month.
— TTR Weekly

Vietnamese Stocks Get Cheaper, But There Aren’t Many to Trade
A recent retreat in Vietnamese stocks has brought the market’s valuation back below its five-year average. While that’s the cheapest level in a year, tapping this opportunity is easier said than done.
— Bloomberg

Vietnam to soon regulate condotels: Construction Ministry
A regulatory framework for condotels must be soon made to end the current chaos which causes huge losses to secondary investors.
— The Hanoitimes

Vietnamese overseas investment hits US$458 million in 11 months
Vietnamese businesses invested US$458.8 million in 31 foreign markets in the first 11 months of 2019, reported the Foreign Investment Agency under the Ministry of Planning and Investment.
— Vietnam Insider

Aquatic exports expected to decline by 1.2 percent
Due to several difficulties, aquatic exports of Vietnam this year is forecast to drop by 1.2 percent over the previous year.
— Sggp News

More support policies needed to boost startups, innovation: VCCI President
Vietnamese startups needs more support institutions and policies to reach their goals, said President of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc on December 2.
— VietnamPlus

Quality rumor sends Vietnamese dairy giant Vinamilk’s shares plummeting
Dairy group Vinamilk, Vietnam’s second-largest listed company, saw its shares drop 2.63 percent on Monday due to a rumor circulating on social media about the origin of ingredients used in its products.
— Vietnam Insider

Plant-Based Diet Craze Spurs Vietnam Coconut Star to Sell Shares
Vietnam’s biggest coconut milk producer plans to sell shares to the public in the next few years as sales soar thanks to a groundswell for plant-based diets in the West.
— Bloomberg

Travelogix joins hands with STA Travel to extend its long term partnership
Data management specialist Travelogix today announced a new partnership agreement with travel company STA Travel.
— Vietnam Insider

Samsung seeks preferential treatments for US$220-million R&D center in Hanoi
Samsung wants to change the purpose of the R&D Center or transfer the building and its related land-use rights to another party, in case of necessity.
— The Hanoitimes

Defense Minister Visit Highlights Mongolia-Vietnam Security Ties
A recent engagement highlighted ongoing efforts by both sides to advance aspects of their defense collaboration.
— The Diplomat

Vietnam’s harvest kept coffee bean supply steady
Vietnam’s harvest kept coffee bean supply steady from the world’s second biggest producer while trading in Indonesia remained subdued on low stockpiles, traders said on Thursday.
— Vietnam Insider

Vietnam remains among top 10 remittance recipients in 2019
Remittance, along with foreign direct and indirect investment and official development assistance, is a major source of Vietnam’s foreign currency supply.
— The Hanoitimes

Sweden proposed $1bn loan to build Vietnam’s Long Thanh airport
Sweden’s Export Credit Corporation (SEK) has offered to loan Vietnam $1bn towards the $4.8bn cost of Long Thanh International Airport’s first phase, on condition that 30% of it is spent on Swedish technology and equipment.
— Vietnam Insider

Vietnam records 30 types of goods with export revenue of over US$1 billion each
Vietnam saw 30 types of goods reporting export revenue of over US$1 billion each in the January-November period of 2019, accounting for 91.6% of Vietnam’s total export revenue.
— NDO

Vietnam Fin Min to remove import tariffs for automotive input materials
The move is aimed to help develop the automotive supporting industries, particularly as Vietnam still has to import massive basic materials for domestic car production.
— The Hanoitimes

Eleven North Korean defectors detained in Vietnam, activists say
Eleven North Koreans seeking to defect to South Korea have been detained in Vietnam since Nov. 23 and are seeking help to avoid being repatriated, a South Korean activist group said Monday.
— Japan Times

Total assets of banks in Vietnam increase 9% to nearly US$520 billion
The total assets of commercial banks under state ownership accounted for 43.4% of the total of the banking sector, followed by joint stock commercial banks with 41.4%.
— The Hanoitimes

VNA, PRD step up cooperation in news exchange
The Vietnam News Agency (VNA) and the Public Relations Department of Thailand (PRD) have agreed to boost cooperation in information and news exchange.
— VietnamPlus

Vietnamese carriers keen to fly to Thailand amid tourism boom
Vietnamese airlines are increasing the number of flights to Thailand to cash in on a two-way boom in tourism.
— VnExpress

HCM City strives for 8.5 percent GRDP next year
HCM City has set a target of achieving a growth rate of 8.5 percent in Gross Regional Domestic Product (GRDP) next year, with total private investment accounting for 35 percent of GRDP.
— VietnamPlus

HCMC to get 150-ha public park
Ho Chi Minh City has green-lighted the construction of a 150-hectare park in District 12 in the northwest.
— VnExpress

Liver cancer kills about 25,000 people yearly in Vietnam
According to the Vietnam Society of Hepato Biliary Pancreatic Surgery, liver cancer is the leading cause of cancer death in Vietnam presently killing up to 25,000 patients yearly, tripling traffic accident-related victims.
— Sggp News

Vietnam E-Pavilion launched to promote locally-made products
The E-Commerce and Digital Economy Department has announced the launch of the Vietnam E-Pavilion on e-commerce platforms and deals for consumers on the country’s largest online shopping day, Online Friday, on December 6.
— Viet Nam News

Condotel investment craze surges in Vietnam
Thousands of people are pouring money into condotel projects with hopes of getting the 8-12 percent interest as promised by owners, despite a nearly non-existent market and undefined legal rules for this type of building.
— Sggp News

Chinese investment in Vietnam surges
Pledged FDI from China reached $2.28 billion between January and November, nearly double that of the same period last year.
— VnExpress

Vietjet to launch HCM City – Pattaya service
In order to celebrate the new service, the budget airline is giving away more than 100,000 super-saving tickets selling from zero ng between Monday and Thursday.
— Viet Nam News

Banking industry waits for big M&A deals
The merger and acquisition (M&A) market in banking industry in the first half of this year has received new signal when Korean bank, Keb Hana, officially became a major shareholders of BIDV in early November with a record M&A deal in the banking industry worth more than VND20 trillion (nearly US$890 million).
— Sggp News

Sovico Group, Samsung SDS enhance co-operation in wide range of sectors
For his part, Nguyen Thanh Hùng, Chairman of the Founder Council of Sovico Group said the cooperation with Samsung SDS will contribute to a significant growth for two companies and soon offer more products and services to the market community.
— Viet Nam News

HNX approves listing of IDICO
The Hà Nội Stock Exchange (HNX) has approved the listing of 192 million shares of the Việt Nam Urban and Industrial Zone Development Investment Corporation (IDICO) on the HNX, under the code IDC.
— Viet Nam News

Online Friday to offer 70 percent discount on over 50,000 essential items
The Department of E-Commerce and Digital Economy under the Ministry of Industry and Trade yesterday announced shopping programs on Online Friday, falling on December 6.
— Sggp News

Garment export target of $40 billion a long shot
The domestic textile and garment industry was still striving to reach its export revenue target of US$40 billion this year despite facing many difficulties, said Vũ Đức Giang, chairman of the Việt Nam Textile and Apparel Association
— Viet Nam News

Gia Lai to develop first wind power plant
Việt Nam-based HBRE Wind Power and Thailand’s Super Energy Corporation recently kicked off a wind power project worth VNĐ1.8 trillion (US$ 77.7 million) in the Central Highlands province of Gia Lai.
— Viet Nam News

Top legislator values water academy’s contributions to agricultural development
Chairwoman of the National Assembly Nguyen Thi Kim Ngan has praised the Vietnam Academy for Water Resources (VAWR) for its contributions to the development of irrigation and agriculture sector in general over the last six decades.
— VietnamPlus

Average registered capital rises in first 11 months
A farmer uses a tablet. In the first 11 months of 2019, the agriculture and forestry sector ranked third in the number of new firms registered.– Photo thoibaokinhdoanh
— Viet Nam News

2019 breakthrough targets must wait for 2020
Việt Nam had targeted breakthroughs in three prioritised areas this year but efforts have fallen short.
— Viet Nam News

Vietnam, Egypt look to strengthen trade, investment connectivity
The Ministry of Industry and Trade (MoIT) and the Egyptian Businessmen Association (EBA) on December 2 held a conference in Cairo to look into the business potential and chances in the field of commodities and logistics, exchanging information, promoting investing and strengthening trade connectivity between the two countries.
— NDO

Garment export target of $40 billion a long shot
The domestic textile and garment industry was still striving to reach its export revenue target of US$40 billion this year despite facing many difficulties, said Vũ Đức Giang, chairman of the Việt Nam Textile and Apparel Association (VITAS).
— Viet Nam News

Startups poised to develop strongly over next five years
Việt Nam’s startup ecosystem could develop strongly over the next five years with venture capital and government assistance, Eddie Thái, general partner of the venture capital firm 500 Startups Vietnam, said at a Startup Việt Summit held on December 2 in HCM City.
— Viet Nam News

PM lauds veterans association’s contributions to national development
Prime Minister Nguyen Xuan Phuc lauded the Veterans Association of Vietnam (VAVN) for its active contributions to national construction and defence during a ceremony in Hanoi on December 3 marking its 30th founding anniversary (December 6).
— VietnamPlus

VN stocks suffer a sudden drop in the afternoon
Vietnamese shares tumbled on Monday under heavy selling pressure that hit banking, technology and other key sectors.
— Viet Nam News

Cambodian female drug trafficker arrested in Vietnam
The customs officers of Vietnam’s southern Tay Ninh province have seized 5 kg of synthetic drugs from a Cambodian woman, Vietnam News Agency reported on Tuesday.
— Xinhua

80 per cent of Happy Valley Premier sold in three weeks
Phu My Hung Development Corporation, the giant HCM City housing developer, announced that 80 per cent of units in its new condominium project, Happy Valley Premier, has been sold within three weeks.
— Viet Nam News

Việt Nam, Egypt to strengthen trade cooperation
Việt Nam and Egypt need solutions to increase bilateral trade, especially as each country has advantageous products that can penetrate the other’s market.
— Viet Nam News

Feature photo Vietnam Youth Ending Slavery – VYES

This week’s Vietnam morning news feature photo focus on International Day for the Abolition of Slavery, December 2.

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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