Vietnam Morning News For January 3, 2019

Vietnam posts high labour productivity growth in ASEAN
Labour productivity in the Vietnamese economy has been estimated at 102 million VND (4,512 USD) per workhand in 2018, up 8.8 million VND (346 USD) from the previous year, according to the General Statistics Office (GSO).
— VietnamPlus

Vietnam Airlines Group achieves $120.46 million profit in 2018
On Wednesday, Vietnam Airlines Group announced it made a record consolidated revenue of VNÄ100 trillion in 2018, marking an increase of 15 per cent in pre-tax profit to nearly VND 2.8 trillion (US$120.46 million).
— Viet Nam News

Vietnam’s cyber-security law comes into effect
The law comes into force a week after the Vietnam Journalists Association announced a new code of conduct on the use of social media by its members, forbidding reporters to post news, pictures and comments that “run counter to” the state.
— Vietnam Insider

Viet Nam should boost trade promotion for more exports to ASEAN
Viet Nam should promote trade more overseas to bring in new customers and boost exports to the ASEAN region.
— Viet Nam New

Fisheries sector aims at 10 billion USD in export value
The fisheries sector is aiming at 10 billion USD in the export of aquatic products in 2019, a year-on-year rise of 11 percent, according to the Directorate of Fisheries under the Ministry of Agriculture and Rural Development.
— VNA NET

Manufacturing, processing contribute to economic growth
Manufacturing and processing were the major contributor to Vietnam’s gross domestic product (GDP) growth of 7.08 percent in 2018, the highest level in 11 years, according to the General Statistics Office (GSO).
— VNA NET

Taxing business households proves controversial
The General Department of Taxation’s plan of taxing business households with annual revenue from VNÄ100 million (US$4,350) is causing controversy.
— Viet Nam News

Foreign businesses hunt for Vietnamese suppliers
Â With preferential policies on land investment and value-added and corporate taxes for enterprises, the number of investment projects for key exports is expected to increase.
— Viet Nam Net

Vietnam Ride-Hailing Service Expands To Myanmar
Vietnam’s first homegrown ride-hailing service, FastGo, has kicked off operations in Myanmar as part of its Southeast Asia expansion plans. The firm partnered with Myanmar conglomerate Asia Sun Group in a joint venture and began offering its services starting from December 28.
— Investvine

Solar rooftop panels ease thirst for power
With the prospects of power shortages in the coming time as well as concerns about transmission line and grid connection, solar rooftop panels could ease power demand, while contributing to sustainable development.Â
— Viet Nam Net

ACV expects to welcome 112 million passengers in 2019
A representative of the Airports Corporation of Viá»‡t Nam (ACV) has predicted the number of passengers passing through ACV’s airports will exceed 112 million this year, up by 8 million from last year.
— Viet Nam News

Top five auto events 2018
Â From F1 races to Viet Nam’s first car, it was a great year for the automobile sector. Here are Bizhub’s five top auto events of 2018.
— Viet Nam Net

Plan to tax business households causes controversy
The General Department of Taxation’s plan of taxing business households with annual revenue from 100 million VND (4,300 USD) is causing controversy.
— VNA NET

Foreign currency lending extended into 2019
The State Bank of Viet Nam (SBV) has issued a circular to allow credit institutions and foreign bank branches to extend loans in foreign currencies to some borrowers in 2019, rather than cutting them off at the end of last year as planned.
— Viet Nam News

2019’s promising economic outlook
With the economy reaching an 11-year high and growth quality significantly improved in 2018, the Vietnamese government expects the same growth to be achieved in the following 12 months.
— Viet Nam Net

A retro stroll in Saigon going back three centuries
Students from Ho Chi Minh City Open University at the photo exhibition “320 years Saigon – Ho Chi Minh City – Where aspiration rises high” on Nguyen Hue Street. The exhibition, which opened December 28, 2018, will remain open until January 8, 2019.
— VN Express

Property market waits for regulations
Â The property market awaits technical standards for the development of small apartments, which may become a trend to deal with the housing crisis caused by the country’s rapid urbanisation.
— Viet Nam Net

Vietnam struggles with paucity of AI engineers
IT firms are offering artificial intelligence (AI) engineers salaries of $22,000 a year, but are still struggling to recruit enough people.
— VN Express

Saigon cops bust commercial surrogacy ring led by Chinese national
Ho Chi Minh City police have arrested a Chinese man and three Vietnamese women for running an illegal surrogacy business.
— VN Express

Business activities will be better in 2019’s first quarter: firms
Â Most firms in the manufacturing and processing industry were optimistic about their production and business activities for the first quarter of 2019, according to a survey by the General Statistics Office (GSO).
— Viet Nam Net

First storm of 2019 heads towards Southern Vietnam
The latest report from the national weather service showed that as of 7 am this morning, the storm, internationally named Pabuk, was about 460 km to the southeast of the mainland in the South, about 360 km southeast of Con Dao Island. The strongest wind near its centre is from 60 to 75 km/h.
— Nhan Dan online

Peacekeeping force affirms Vietnam’s position
Â Vietnam’s participation in the UN’s peacekeeping mission is a breakthrough in implementing the Party’s consistent foreign policy of independence, self-reliance, peace, cooperation and development.
— Viet Nam Net

Official trade of birds nests to China to increase exports, profits
Demand for bird’s nests in China is increasing, offering opportunities for Vietnamese firms, but new measures are needed to enable producers to export the product directly to China, rather than carrying it over the border, according to the Ministry of Agricultural and Rural Development.
— Viet Nam News

Hanoi electricity strives to supply enough power
The Hanoi Electricity Corporation (EVN HANOI) is speeding up the progress of major works to achieve the city’s electricity development plan in the 2016-2025 period.
— Viet Nam News

HCM City’s police uncover illegal surrogacy network
Ho Chi Minh City’s police have discovered an illegal surrogacy network.
— VNA NET

New Year Holiday traffic accidents kill 111, injure 61
A total of 147 accidents occurred within the four-day New Year’s holiday (December 29-January 1), claiming 111 lives and wounding 61 people, traffic police said.
— Viet Nam News

Toll collection company under investigation
Five officials of the Yên KhÃ¡nh Company were detained for further investigation into alleged illegal activity of using software to hide fee collection and evade tax at HCM City-Trung LÆ°Æ¡ng Expressway’s toll booth, the Ministry of Public Security said yesterday.
— Viet Nam News

Are Vietjet’s recent troubles the result of scorching-hot development?
From a small airline with only three aircraft in 2011, Vietjet Air has become a big low-cost air carrier (LCC) with annual revenue of VND50 trillion.
— Viet Nam Net

Extreme weather forecast for start of 2019
Up to five cold spells are predicted to hit the northern region in January, according to the National Centre for Hydro-Meteorological Forecasting.
— VNA NET

CPTPP provides driver of institutional reform
The CPTPP, which officially came into force on December 30, 2018, is expected to provide a push for Vietnam to reform its economic institutions and further improve the business climate to optimize opportunities brought by the deal.
— VNA NET

Time for teachers to go back to school
Kindergarten teacher Nguyen Thi Hang is starting the new year with a lot on her mind. Although working at a public school in Hanoi’s Ha Dong District, Hang has learned she has to meet a new foreign language proficiency level
— Viet Nam News

Tsunamis, earthquakes may have impact on Vietnam
The Ministry of Natural Resources and the Environment (MONRE) estimates that if a 9.2 Richter earthquake occurs at the Manila Trench, it may cause a 10.6 meter tsunami in Quang Ngai province and a 5 meter tsunami in Nha Trang City.
— Viet Nam Net

Minister hopes for more UK support in crime prevention
Minister of Public Security Sen.Lt.Gen To Lam has proposed the UK Government continue supporting Vietnam in enhancing capacity, information exchange and technical equipment for the fight against organised and cyber crimes.
— VNA NET

Shares disappoint as new year begins
Shares failed to maintain their rally from the morning session as selling pressure increased towards the end of the session while buying demand remained weak.
— Viet Nam News

More support needed to optimise Can Tho int’l airport
More favourable policies and support are expected to help promote the use of Can Tho International Airport – a port of entry of Can Tho city and the whole Mekong Delta region.
— VNA NET

Textiles firm race to list on the market
Many textile and garment enterprises has been improving operation to prepare themselves for the list on the stock market.
— Viet Nam News

Countdown Festival draws crowds to downtown Hanoi
For several years now, Hanoi’s Countdown Festival has become one of the most anticipated events to welcome 2019.
— VNA NET

EVN accepts QR payments
Viá»‡t Nam Electricity (EVN) is co-operating with Viá»‡t Nam Payment Solution Joint Stock Company (VNPAY) to enable online QR payments of electricity bills.
— Viet Nam News

Tropical Storm Pabuk to threaten Vietnam with flooding rain
Strengthening on Tuesday brought the cyclone to tropical storm status, and it was given the name Pabuk.Faith Eherts, AccuWeather meteorologist reports.
— Vietnam Insider

Vietnam’s mushroom market very promising as family incomes climb
High-quality, made-in-Vietnam products are also becoming better known to consumers.
— Viet Nam Net

Toll collection on National Highway 10 to begin on January 4
The upgraded National Highway 10, developed under the build-operate-transfer (BOT) model with a total length of 31 kilometres, will begin toll collection on January 4, project investor Tasco Joint Stock Company has announced.
— Viet Nam News

Feature photo i Tour Vietnam

This week’s morning news photo focuses on the death, pain, and loss that typically occurs at this time of year on Asean roads due to drunk driving, speeding, and a failure to wear protective helmets when travelling on motorbikes.

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.