Vietnam morning news for February 21

Vietnam morning news for February 21

Vietnam morning newsUS$ 6 billion foreign investment disbursed into Saigon last year
Saigon (Ho Chi Minh City) has licensed foreign investors invested 6 billion U.S. dollars into the city through mergers and acquisitions (M&A) deals in 2018, the municipal authorities said on Tuesday.
— Vietnam Insider

Ministry wants to reduce tax on locally made auto parts
The Ministry of Finance has asked the Government to amend its laws to eliminate the special consumption tax on locally manufactured auto parts and components, a move which could reduce prices of locally assembled cars.
— VietnamPlus

Gov’t agencies blamed for lack of corporate transparency
The slow listing of post-equitisation firms, including State-owned enterprises (SOEs), may make Vietnamese firms less attractive regarding a lack of corporate transparency and government agencies managing those firms must be blamed for the problem.
— Viet Nam News

Vietnam fast becoming haute new market for luxe property
The 39-story development will house apartments, a hotel, restaurants and some of the most expensive real estate in the country. But instead of Central Park views, it’s located in Ho Chi Minh City’s District 1, better known as Saigon’s Wall Street.
— Business Times

Vietnam can be template for a US deal with North Korea
The dates, Feb. 27-28, and the venue, Hanoi, for a second summit between U.S. President Donald Trump and North Korean leader Kim Jong Un have been confirmed. But almost nothing else is clear. The agenda for the talks is unknown, and nobody, except sometimes Trump, seems to believe that Kim genuinely intends to abandon nuclear weapons.
— Nikkei Asia Review (paywall)

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Plastic protective screen in taxi is legal: the Vietnam Register
After an image of a homemade plastic screen installed in a taxi was posted on social media, the Việt Nam Register confirmed that such modifications were legal. However, the screen must be inspected to ensure its safety to both drivers and passengers.
— Viet Nam News

Rice exporters face a tough year
A Government decree that sought to remove difficulties and legal barriers for rice businesses to boost their exports, which took effect last October, has not impacted rice exports as much as expected, according to exporters.
— Bizhub

Made-in-China mini electric cars banned in Vietnam
The first Made-in-China mini electric cars have been introduced to Vietnam by a company in Hai Phong City, but local authorities have warned people not to buy the vehicle.
— Vietnam Insider

Banks see higher employee efficiency
Many banks have seen their employee efficiency increase significantly, with each member of staff earning them more than VND1 billion (US$43,000) in pre-tax profit on average last year.
— Bizhub

Vietnam will be able to export mangoes to the United States
Vietnam can now export mangoes to the United States, a demanding market where it already exports pitahaya, rambutan, lychee, longan and caimito.
— Fresh Plaza

Artist wins copyright row over characters in Vietnam’s longest-running comics after 12-year lawsuit
A Ho Chi Minh City court on Monday made a landmark decision to award an artist intellectual property rights over four fictional characters in an iconic series of Vietnamese children’s comics, putting an end to a high-profile lawsuit that had dragged on for 12 years.
— Vietnam Insider

OK for Direct US Flights Moves Vietnam Into Economic Fast Lane
The U.S. decision last week to permit Vietnam to fly its commercial aircraft directly to American airports is seen as a continuation of improving relations and follows other signs of international recognition for Hanoi.

Germany aims to reset ties with Vietnam after kidnapping case
German Foreign Minister Heiko Maas said on Wednesday he would use a meeting with his Vietnamese counterpart to discuss resetting ties between the two countries after past differences over the kidnapping of a Vietnamese businessman in Berlin.
— Reuters

Viet Nam tourism to be boosted by Trump-Kim summit
The day before US President Donald Trump met North Korean Supreme Leader Kim Jong-un in Singapore last year, one phrase was googled in America more than two million times.
— Bizhub

Ministry warns of increasing trade fraud via “made-in-VN” labelling
The Ministry of Industry and Trade’s Import – Export Department has recently warned of the increase in trade fraud through labeling products as “Made-in-Vietnam”.

Ministry wants to reduce tax on locally made auto parts
The Ministry of Finance has asked the Government to amend its laws to eliminate the special consumption tax on locally manufactured auto parts and components, a move which could reduce prices of locally assembled cars.
— Viet Nam News

PM directs hastening Trung Luong-My Thuan highway construction
Permanent Government members met in Hanoi on February 20 to discuss the acceleration of the construction of the Trung Luong-My Thuan highway.
— Nhan Dan Online

How much are Vietnamese willing to spend on Valentine’s Day gifts?
Vietnamese are likely to spend VND1.3 million ($56.1) on Valentine’s Day gifts, a recent global survey found.
— VnExpress

Hanoi ready to work with Russian firms in building e-Government: official
Hanoi is willing to cooperate with and learn from Russian enterprises’ experience in building an e-Government, said Chairman of the Hanoi People’s Committee Nguyen Duc Chung.

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10 years of unfinished key southern Vietnam expressway
Only 15 percent of the Trung Luong – My Thuan Expressway has been completed even though construction started in 2009.
— VnExpress

FTA helps fuel Vietnam-Russia trade growth
Trade between Vietnam and Russia was estimated at 4.57 billion USD in 2018, up 28.6 percent year on year, partly thanks to the enforcement of the free trade agreement (FTA) between Vietnam and the Eurasian Economic Union (EAEU).

US remains largest export market of Dong Nai
The US is now the biggest importer of the southern province of Dong Nai, accounting for 25.7 percent of the locality’s total export turnover.
— VietnamPlus

MB among strongest banks in Asia-Pacific
The Military Commercial Joint Stock Bank (MB) ranked third among 14 Vietnamese banks in the list of 500 strongest banks (AB500) in Asia-Pacific recently released by The Asian Banker.

PM sets socio-economic development tasks for MPI
Prime Minister Nguyen Xuan Phuc instructed the Ministry of Planning and Investment (MPI) to continue to make breakthroughs for socio-economic development at a meeting in Ha Noi on Tuesday.
— Bizhub

Decree revises list of citizens eligible for e-visas
The Government recently issued a decree on amending and supplementing the list of foreign citizens eligible for e-visas and border gates that allow immigration by e-visas.

HCM City opens new smart traffic centre
A smart traffic monitoring and operation centre, the first of its kind in Vietnam, was opened on February 18 by the Saigon River Tunnel Management Centre.

Vietnam Takes Aim at Radio Free Asia
Vietnam is tightening controls on dissent and targeting journalists. When President Trump goes to Hanoi next week for a summit with his North Korean counterpart, he should raise with the host nation the fate of two Vietnamese journalists working for Radio Free Asia, the U.S. government-funded broadcaster I lead.
— Wall Street Journal

Hanoi: Tuong Phieu communal house receive national special relic status
Tuong Phieu communal house in Phuc Tho district, Hanoi was designated a national special relic site at a ceremony held on February 18.

Media OutReach Expands into Vietnam Through Exclusive Sales and Content Partnership with Viet Nam News
The Asia Pacific’s first global newswire, Media OutReach , has expanded its Asia Pacific footprint following the signing of an exclusive sales and content partnership with one of Indochina’s most successful media organisations — the Viet Nam News .
— AsiaOne

Early completion of Long Thanh int’l airport feasibility report urged
Deputy Prime Minister Trinh Dinh Dung has urged relevant units to complete a feasibility report on the construction of the first phase of the Long Thanh International Airport in the southern province of Dong Nai as soon as possible.

Singaporean firms selected to design master plan for Da Nang
Da Nang authorities have selected Singaporean-based firms Sakae Corporate Advisory and Surbana Jurong to design the central city’s master plan and economic development strategy towards 2030.
— VietnamPlus

Argentine President welcomed in Vietnam
A ceremony was held in Hanoi on February 20 to welcome President of Argentina Mauricio Macri and his spouse, who are paying a State visit to Vietnam from February 19-21 to deepen the ties between the two countries.

Cognex expands presence in ASEAN market, targeting Việt Nam
Việt Nam was an impressive emerging market with a rapid increase of foreign direct investment (FDI) as well as the appearance of mega-factories in recent years, stimulating technology corporations to expand their presence here.
— Viet Nam News


Feature photo Sarahhoa


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).

Vietnam morning news by AEC News Today is your one stop source for Vietnam news on matters of governance and policies affecting Asean business communities. It is published M-F by AEC News Today: Governance, not government; policies, not politics.


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Sreypov Men recently completed a course of study in International Relations at the Institute of Foreign Languages.

She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018

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