Vietnam Morning News For July 16

Vietnam Seeks to Sell Stake in Military Commercial Bank
Vietnam’s government is looking to sell part of its stake in Military Commercial Joint Stock Bank , MBB -0.23% a large local lender with a market capitalization of close to $2 billion, people familiar with the plans said.
— WSJ

PetroVietnam assigned $863 mln profit target
State-owned oil giant PetroVietnam has a profit target of VND20 trillion ($863 million) this year, up 17 percent from last year.
— VnExpress

Vietnam ranked 15th among the World’s Most Populated Countries
Vietnam had over 96.2 million people as of April 1, up 10.4 million against 2009, making it the 15th most populous country in the world, according to the result of its latest national population and housing census released on Thursday.
— Vietnam Insider

Garment and footwear firms will have to wait for EVFTA benefits
Textile, garment and footwear products made in Việt Nam will not enjoy immediate tariff cuts after the EU-Việt Nam Free Trade Agreement (EVFTA) comes into effect, according to a report from Bảo Việt Securities Joint Stock Company (BVSC).
— Viet Nam News

70% of Vietnam’s low-cost houses built in Hanoi
Hanoi expects to meet housing targets for 2020 required in the context of high urbanization rate.
— The Hanoitimes

Hanoi demands individual responsibility for delay in SOEs privatization
In the 2017 – 2020 period, Hanoi is tasked with privatizing 15 state firms, divesting state capital in other 34 and SOEs’ share in 67 enterprises.
— The Hanoitimes

Japan invests nearly US$58 billion in Vietnam
According to the Ministry of Industry and Trade, up to now, Japan has had 4,190 investment projects in Vietnam with total registered capital of US$57.9 billion, the second largest investor among countries and territories investing in Vietnam.
— Sggp News

Local enterprises pump nearly US$93 billion into Vietnam economy in H1
The number of newly-established enterprises in Vietnam in the first six months of 2019 reached a five-year-high of 67,000 with registered capital of VND870 trillion (US$37.54 billion).
— The Hanoitimes

Nike supplier look beyond Vietnam for risk diversification
Firms are realizing that no nation is tariff-proof enough to serve as a global supply hub.
— The Hanoitimes

VPBank prices US$300 million under $1-billion EMTN programme
The Vietnam Prosperity Joint Stock Commercial Bank (VPBank) has raised US$300 million from issuing three-year bond notes to international bondholders.
— Viet Nam News

Solar power glut overloads power transmission lines in Ninh Thuận, Bình Thuận
Electricity transmission lines, especially in Ninh Thuận and Bình Thuận provinces, are being overloaded after a number of renewable power projects began production simultaneously without the requisite strengthening of transmission capacity.
— Viet Nam News

TPBank to launch payment service in partnership with UnionPay
Vietnam’s TPBank has signed a payment service partnership pact with China’s UnionPay International, targeting tourists as potential customers.
— VnExpress

Vietnamese goods struggle to find shelf space at home as foreign retailers dominate
Though Big C Vietnam’s decision to stop buying Vietnamese garments was discontinued immediately and it was soon business as usual, public opinion has yet to settle down, with many people worrying about the fate of Vietnamese goods in future.
— Viet Nam News

VN-Index could pass 1000-point landmark soon
VN-Index could continue its short-term uptrend this week and may surpass the 1000-point milestone again thanks to macroeconomic stability and the US Federal Reserve’s expected interest rate cuts, analysts have said.
— Viet Nam News

Vietnam: Binh Duong bumper mangosteen harvest
Mangosteen farmers in the south-eastern province of Binh Duong have had a bumper crop of mangosteens this season, caused by long periods of hot weather, low rainfall and support from local authorities.
— Fresh Plaza

Vietnam, US step up comprehensive partnership
Nguyen Xuan Thang, Secretary of the Communist Party of Vietnam Central Committee and Chairman of the Central Theory Centre, has had meetings with representatives of US and international organisations and institutions in Washington DC.
— NDO

UPDATE 1-Vietnam’s MBBank to sell 7.5% stake to foreign investors this year – CEO
Vietnam’s Military Commercial Joint Stock Bank is seeking to sell a 7.5% stake to one or more foreign investors this year, its chief executive officer said on Monday.
— Reuters

KB Securities facilitates investments in Vietnam
KB Securities is focusing on offering services facilitating investment in Vietnam to capitalize on the potential of the Southeast Asian country. The brokerage said Monday it has added Vietnam to its Global One Market Service, which allows investors to trade foreign stocks in Korean won.
— Korea Times

Korean electricity tech to be introduced at HCM City fair
Smart electricity and green power technology from the Republic of Korea (RoK) will be introduced at the Việt Nam ETE and Enertec Expo 2019 from July 17-20 in HCM City.
— Viet Nam News

Vietnam 5-star hotels revenues rise on strong demand
Five-star hotels last year reported higher revenues as room rates increased thanks to increasing demand from foreign visitors.
— VnExpress

Cabinet discusses measures to boost trade with major partners
Key members of the government met with the ministries concerned on July 13 to discuss the measures aimed at bolstering trade with Vietnam’s major partners amid global and regional uncertainties.
— NDO

Military Commercial Bank to sell stake to foreign investors
Vietnam’s Military Commercial JSC (MBBank) is seeking to sell a 7.5 percent stake to one or more foreign investors this year.
— VnExpress

Samsung C&T alerts investors of Vietnamese company using its brand
A Vietnamese real estate developer is reportedly promoting new apartments named in HCM City by invoking the name of Samsung C&T – a luxurious South Korean apartment brand that is not involved in the projects.
— Viet Nam News

Endangered baby turtles released to the sea
Baby turtles (Cheloniidae) hatched from eggs that had been moved to a beach in the Chàm Islands’ Marine Protected Area (MPA) were released into the ocean last weekend by the MPA’s management board.
— Viet Nam Net

Vietnam 5-star hotels revenues rise on strong demand
Five-star hotels last year reported higher revenues as room rates increased thanks to increasing demand from foreign visitors.
— VnExpress

MoC plans to release quarterly reports on property market
The quarterly report is a basis for building a database on housing and local property market because information about those factors is unclear.
— Viet Nam News

Vietnam – capital markets – how the CPTPP, EVFTA/TPA can effect Morgan Stanley’s 2020 rating
One of the significant events Vietnam was hoping to occur this June unfortunately did not transpire—being on the Morgan Stanley Capital International (MSCI) watch list for emerging markets.
— Lexology

First commercial mediation center launched in Vietnam amid rising trade deals
The center aims to provide dispute settlement in the context of rising trade relations in Vietnam.
— The Hanoitimes

Foreigners still permitted to make term deposits at Vietnamese banks
Resident and non-resident foreigners in Việt Nam are still permitted to make term deposits at local banks despite some banks saying they would not accept savings deposits from individual foreign customers, the State Bank of Việt Nam has said.
— Viet Nam News

FDI firms to be listed soon: Ministry of Finance
The Ministry of Finance will soon release a policy to put foreign direct investment (FDI) firms on the stock market.
— Viet Nam News

Vietnam launches mediation centre
The Vietnam International Commercial Mediation Centre (VICMC), founded under a licence of the Ministry of Justice, has officially launched in Hanoi.
— Vantage Asia

HCM City implements new policies to attract talented staff
HCM City will begin implementing preferential policies this week to attract and retain talented people who can contribute to the city’s economic, social and cultural development.
— Viet Nam News

New Đà Nẵng-Kaohsiung direct flight to launch
Low-cost carrier Jetstar Pacific will launch three direct flights a week between the central city of Đà Nẵng and Kaohsiung, Taiwan from August 10.
— Viet Nam News

Another Trump Tariff Success Story: Vietnam
Today, we have another Trump “success story” to report. To the detriment of China (and the US), Vietnam benefits.
— Money Maven

HCM City residents lament lack of green space
Rapid urbanisation is reducing green areas in HCM City, with parks coming under increasing threat from shops, cafes, office blocks and parking lots.
— Viet Nam Net

Đang Nai meets 2019 FDI target in just six months
The southern province of Đang Nai completed its full-year target for foreign direct investment (FDI) attraction in the first half of the year, according to the provincial Statistics Office.
— Viet Nam News

Time is running out for Facebook as TikTok takes over in Vietnam
A teenager on Hang Dau street in downtown Hanoi took out his phone and started to shoot a video of an old homeless woman who was sitting under the awning of a store with her small bundle of rugged blankets and bags.
— The Jakarta Post

VN coffee exports plummet as robusta prices fall
Việt Nam’s coffee exports dropped by around 20 per cent in the first half of the year.
— Viet Nam News

VN-Index could pass 1000-point landmark soon
VN-Index could continue its short-term uptrend this week and may surpass the 1000-point milestone again thanks to macroeconomic stability and the US Federal Reserve’s expected interest rate cuts, analysts have said.
— Viet Nam News

Calls for insider traders to be dealt with criminally
Illegal insider stock trading requires a stronger deterrent from regulatory agencies to stabilise the market sentiment
— Viet Nam News

Tech recruitment platform Glints eyes Vietnam, Hong Kong expansion with US$6.8M funding
Glints, a tech-enabled recruitment and career development platform in Southeast Asia, has secured US$6.8 million in an oversubscribed Series B funding round led by Monk’s Hill Ventures.
— e27

Rising labor costs concern labor intensive firms in Vietnam
As Vietnam’s labor cost is equal and even higher than other countries, the country will have to replace the cheap labor advantage for the skilled workforce advantage in the coming time to raise the competitiveness.
— The Hanoitimes

PM asks for more efforts to boost trade ties with key partners
During the meeting, participants reviewed reports presented by ministries and sectors to assess trade relations between Viet Nam and its big partners.
— Viet Nam News

Vietnam Seeks to Sell Stake in Military Commercial Bank: WSJ
Vietnam’s government is looking to sell part of its stake in Military Commercial Joint Stock Bank , MBB -0.23% a large local lender with a market capitalization of close to $2 billion, people familiar with the plans said.
— Vietnam Insider

Vietnamese stock market attracts foreign investment
Vietnam’s stock market has been evaluated as a bright spot in the region in terms of growth speed and foreign capital absorption for years, according to Chairman of the State Securities Commission (SSC) Tran Van Dung.
— VietnamPlus

Meet the 3 startups graduating from Vietnam-based VIISA Accelerator’s fifth batch
The startups have received a seed funding, and stand to get a follow-on funding of up to US$200K when they secure a new round from other investors Vietnam-based VIISA Accelerator has announced the graduation of three startups graduating from the fifth batch of its 4-month accelerator programme with the Investment Day.
— e27

Niles community coming out to honor Vietnam veteran
NILES — A Vietnam veteran who died in late May will be getting a proper sendoff thanks to a Niles funeral home.
— Heraldpalladium

Feature photo ILO Asia-Pacific

This week’s Vietnam morning news feature photo focus on World Youth Skills Day, July 15.

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.