Vietnam morning news for January 25

Vietnam morning news for January 25

Vietnam morning newsNearly $900 million injected into Vietnamese start-ups in 2018
Vietnamese start-ups were invested in to the tune of US$900 million in 2018, tripling the previous year’s investment, according to a report recently released by Topica Founder Institute (TFI), a start-up accelerator programme in Viet Nam and Thailand.
— Viet Nam News

Vietnam makes debut in Bloomberg innovative economy index
Vietnam has for the first time entered the Bloomberg Innovation Index of the world’s 60 most innovative economies.
— VnExpress

Vietnam aims to pocket US$30 billion from tourism in 2019
Vietnam’s tourism industry aims to reach total revenue of over VND700 trillion (US$30.1 billion) in 2019, said Deputy Minister of Culture, Sports and Tourism Le Khanh Hai at the conference on January 21 on tasks and orientations for 2019.
— VietnamNet Bridge

Vietnam to control inflation below 4 percent this year
The Ministry of Finance on January 23 informed that the Government has determined to control prices so as to keep inflation at a level of 3.3-3.9 percent and core inflation at around 1.6-1.8 percent in 2019.
— Sggp News

IZs, EZs attract $8.3 billion in 2018
Industrial zones (IZs) and economic zones (EZs) operating in the country lured more than US$8.3 billion in investment in 2018, a report from the Ministry of Planning and Investment’s Department of Economic Zone Management revealed.
— Vietnam News

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Vietnam: New Laws to be in Effect in 2019
In 2018, the Vietnamese government passed several new and amended laws which are going to come into effect in 2019. The laws primarily focus on wages, environmental projects, food industry, rural development, cybersecurity, and administrative procedures.
— Vietnam Briefing

Bank helps 6.7 million poor households access low-interest loans
Deputy Director General of the Vi?t Nam Bank for Social Policy, Tr?n Lan Phuong, speaks to Nông thôn Ngày nay (Countryside Today) newspaper on extending loans to farmers to expand their production
— Viet Nam News

New auto manufacturing project approved in Thua Thien – Hue
The central province of Thua Thien – Hue has approved Kim Long Nam JSC’s investment in an auto manufacturing – assembly complex at the local Chan May – Lang Co economic zone.

Vietnam – one of best investment havens: PM
Prime Minister Nguyen Xuan Phuc chaired a dialogue with executives of nearly 40 multinational groups in Davos, Switzerland, on January 23 (local time). The activity was within the framework of the ongoing World Economic Forum (WEF) Annual Meeting 2019.
— Nhan Dan Online

Viet Nam protects 75 domestic and foreign products?
Vi?t Nam has so far protected 69 products with geographical indications and six foreign ones. Over the past 10 years, the number of protected GIs has increased by 3.5 times.
— Vietnam News

13th National Party Congress: sub-committee on Party regulations meets
The sub-committee on Party regulations of the 13th National Party Congress convened its first meeting in Hanoi on January 23.

Renewable energy-led pathway vital for Vietnam
Renewable energy could become Vietnam’s lowest-cost option to meet its energy needs, according to a whitepaper released by global management consulting firm McKinsey & Company on January 23.
— VietnamPlus

Vietnam named in top 60 innovative economies
Vietnam has been named among the 60 most innovative economies in the world by the 2019 Bloomberg Innovation Index.

Global economic confidence at a record low: pessimism ends a turbulent 2018
Global economic confidence fell for the third consecutive quarter in Q4 2018 to end the year at an all-time low, found the latest edition of Global Economic Conditions (GECS).
— Viet Nam News

Experts call for increasing economic value of straw
Experts called for making better use of straw – an agricultural by-product abundant in Vietnam’s biggest rice cultivating area of Mekong Delta – during a seminar held in southern Can Tho city on January 23.

Vietnamese, Cambodian localities enhance friendship
A delegation of officials from Cambodia’s Kampong Speu province visited the southern province of Vinh Long on the occasion of the upcoming Tet (Lunar New Year) festival.

Huyndai joins venture with VN auto firm
On Thursday, the Republic of Korea’s carmaker Hyundai Motor Company said it will set up a joint venture (JV) with Vietnamese firm Thành Công Group to boost sales in the emerging market, according to news website Yonhap.
— Viet Nam News

NA Chairwoman asks Hau Giang to focus on agricultural development
National Assembly (NA) Chairwoman Nguyen Thi Kim Ngan has advised Hau Giang province to continue transforming its economic structure with special attention given to developing agriculture.

Vietnam Hikes Minimum Wages by 5.3 Percent in 2019
Vietnam’s National Wage Council has increased the minimum wage by an average of 5.3 percent in 2019. The hike, which is the lowest compared to previous years, will increase the minimum wage in the four regions by US$7-9 per month. In 2018, the increase was 6.5 percent, while in 2017 the minimum wage was hiked by 7.3 percent.
— Vietnam Briefing

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Business community contributes to Hai Phong’s development
The business community in Hai Phong has made great contributions to the northern port city’s development, said Chairman of the municipal People’s Committee Nguyen Van Tung.

New FDI strategy must link firms
Foreign direct investment (FDI) capital is a major driver of Vi?t Nam’s economic development. On the sidelines of the Vi?t Nam Economic Forum 2019 held last week, Kyle Kelhofer, IFC Country Manager for Vi?t Nam, Laos and Cambodia, and Ganesan Ampalavanar, CEO of Nestle Vi?t Nam, spoke to Viet Nam News reporter Nguy?…n Linh Anh about opportunities to leverage FDI and strengthen links with domestic firms.
— Vietnam News

Reference exchange rate goes down by 4 VND
The State Bank of Vietnam set the daily reference exchange rate at 22,875 VND/USD on the morning of January 24, down by 4 VND from January 23.

HR and Payroll in Vietnam – An Overview
After setting up a business in Vietnam, the next big hurdle is hiring the staff that you will need to help grow your operation. The initial hiring process and, ultimately, payroll administration can quickly become a complex and confusing process. Labor intensive sectors, such as manufacturing, are almost certain to face a significant degree of exposure to these challenges, while all companies setting up within Vietnam – from representative offices to fully foreign-owned enterprises – will face some — liability.
— Asiapedia

Hanoi’s Soc Son district urged to relocate residents affected by landfill
Chairman of the Hanoi People’s Committee Nguyen Duc Chung has ordered authorities of Soc Son district to accelerate land clearance and compensation for residents affected by the Nam Son Waste Treatment Complex or Nam Son dumping ground.

PM Nguyen Xuan Phuc encourages Vietnam team for Asian Cup quarterfinals
Vietnamese Prime Minister Nguyen Xuan Phuc yesterday made aphone call to coach of the Vietnam’s national football team Park Hang- seo and footballers in order to encourage them ahead of the 2019 AFC Asian Cup quarterfinals in evening of January 24.
— Sggp News

Ho Chi Minh City aims to tackle traffic jams
The Ho Chi Minh City Department of Transport will focus on implementing major projects to reduce traffic congestion and traffic accidents in 2019.

GrabFood expands to more cities
Grab has announced that its food delivery service, GrabFood, will be expanded to 12 more cities and provinces in Vi?t Nam, taking the total number where it is available to 15.
— Vietnam News


Feature photo Asian Development Bank

This week’s Vietnam morning news feature photo acknowledges International Day of Education, January 24.


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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