Vietnam Morning News For June 11

Vietnam to crackdown on Chinese goods relabelled to beat U.S. tariffs
Vietnam has said it will crackdown on goods of Chinese origin illegally relabelled “Made in Vietnam” by exporters seeking to avoid U.S. President Donald Trump’s tariffs on Chinese imports.
— Today Online

Vietnam’s e-commerce to surge in 2020
Vietnam’s e-commerce growth reached 30 percent last year, marking total retail revenue 8 billion U.S. dollars, and this figure is expected to surge to 13-15 billion U.S. dollars next year, according to its Ministry of Industry and Trade.
— Xinhua

Vietnam pursues multilateralism, consensus at UNSC: Deputy PM
Vietnam’s highest priority during its term as a non-permanent member of the United Nations Security Council (UNSC) for 2020-2021 would be promoting multilateralism and compliance with international law in addressing global challenges regarding peace and security.
— NDO

Pork shortage is expected in Vietnam later this year
Vietnam is expected to import more pork in the coming months to make up for domestic shortages as African swine fever continues to spread, according to the Ministry of Industry and Trade.
— The Phnom Penh Post

Cement company wants to sell $60 mln office tower to shore up finances
The state-owned Vietnam Cement Industry Corporation wants to sell a long-delayed office tower it is building in Hanoi as it seeks to privatize.
— VnExpress

Vietnam Imposes 17% Safeguard Duties On Billet Imports From Malaysian & Kazakhstan
S&P Global Platts reported that Vietnam’s Ministry of Industry and Trade has imposed 17.3% safeguard duty on steel billet imports from Malaysia and Kazakhstan effective June 13.
— Steel Guru

Vietnam has become an attractive beer market
With sales reaching billions of USD and continuously growing strongly year by year, Vietnam is becoming an attractive beer market that makes both domestic and foreign businesses stand to fight. However, there are many signs that the victory is tilting towards foreign brewers.
— Vietnam Insider

Regulations block Vietnamese start-up businesses
The regulatory framework was still the biggest challenge for the Vietnamese start-up community, speakers said at a summit on Monday.
— Viet Nam News

Garment, fruit and vegetable exports sharply increase
The total textile and garment export revenue for the first five months of 2019 reached US$14.5 billion, up by 9.11% over the same period last year and accounting for 36.3% of the yearly plan, according to the Vietnam Textile and Apparel Association (VITAS).
— NDO

Policy key to boosting Việt Nam’s digital economy, say experts
In 2018, the country’s e-commerce growth reached 30 per cent, marking total retail revenue of US$8 billion. This figure is expected to reach $13-15 billion by 2020.
— Viet Nam News

Over 10 of Vietnamese key farm produce sold abroad
More than 10 key agricultural products of Vietnam are being sold across 160 countries and territories worldwide.
— VietnamPlus

Việt Nam to shape growth strategy for next decade
Việt Nam would have to push ahead with bold reforms in institutions, human resources, infrastructure and innovation for better quality growth in the next ten years.
— Viet Nam News

Two Vietnam Startups Will Merge With Plans to Raise $30 Million
Two of Vietnam’s payments startups are merging to add scale in the market where cashless payments are booming.
— Bloomberg

Partnership for Vietnam LNG-to-Power Project
Russia’s largest private gas producer Novatek will work alongside French multinational integrated oil and gas company Total, state-controlled compatriot oil company Zarubezhneft and Germany’s Siemens on Vietnamese LNG-to-power project.
— Marine Link

Vietnamese agricultural products face barriers to enter China market
Many of Vietnam’s agricultural products – especially rice, vegetables and cassava – have faced barriers preventing their export to China, according to the Ministry of Agriculture and Rural Development.
— The Phnom Penh Post

Deposit interest rates jump as banks compete with strengthening greenback
Việt Capital Commercial Joint Stock Bank (VietcapitalBank) offers the highest deposit interest rate of any bank: 8.6 per cent.
— Viet Nam News

100 Vietnamese firms chosen to list products on Amazon
One hundred Vietnamese firms have been chosen to list their products on Amazon from June 6, 2019, under a long-term programme between the Vietnam Trade Promotion Agency (VTPA) and Amazon Global Selling.
— Vietnam Insider

Geographic position makes Vietnam a renewable power hub
High solar irradiance and wind flow velocity are factors making Vietnam`s renewable energy advantages.
— The Hanoitimes

Fisherman refuses cash and releases rare turtle into the ocean
Trung said many dealers came to try and buy the turtle, with some offering up to VNĐ250 million (US$10,750).
— Viet Nam Net

Japan’s Izumo-Class Carrier to Visit Vietnam This Month
As part of its Indo-Pacific deployment this year, the JS Izumo is slated to make a port call in Vietnam.
— The Diplomat

CIC launches portal for borrowers
The National Credit Information Centre of Việt Nam (CIC) and the State Bank of Việt Nam (SBV) officially launched a portal connecting borrowers and credit institutions last week.
— Viet Nam News

Korean firms eye investment in renewable energy in Vietnam
Korean investors are keen to invest in renewable energy due to its potential and the incentives that Vietnam has offered to foreign investors, an HSBC official has said.
— VietnamPlus

VN stocks forecast to move forward
Securities companies are betting Vietnamese shares may expand growth this week as the domestic market could benefit from positive macro-economic signals.
— Viet Nam News

Garment-textile, fruit-vegetable exports surge
Vietnam’s total garment-textile export turnover was estimated at 14.5 billion USD in the first five months of 2019, a year-on-year rise of 9.11 percent.
— VietnamPlus

Cross-ownership in the banking system almost resolved
Cross-ownership in the country’s banking system had almost been eliminated, a recent report by the State Bank of Việt Nam showed.
— Viet Nam News

Vingroup building second smartphone plant
Vingroup on Monday began construction of its second smartphone plant, which would be capable of producing devices for global brands.
— VnExpress

Korean investors eye investment in renewable energy
Korean investors are keen to invest in renewable energy due to its potential and the incentives that Việt Nam has offered to foreign investors, an HSBC official has said.
— Viet Nam News

VN economic growth to be fastest in region
The Vietnamese economy is expected to grow at around 6.7 per cent this year, the fastest rate in Southeast Asia, according to the Institute of Chartered Accountants in England and Wales’ recent Economic Insight: South East Asia report.
— The Phnom Penh Post

Vietnam’s watch market worth about 750 million USD per year
The watch market in Vietnam was worth about 750 million USD in 2018.
— VietnamPlus

Equitisation moves at a snail’s space in May
Only three state-owned enterprises got the nod from the State authority for their equitisation plan in May, lifting the total number of companies to have plans approved in the first five months of the year to 30, the Ministry of Finance revealed.
— Viet Nam News

Work starts on VinSmart phone factory
Việt Nam’s major real estate, tech and retail conglomerate Vingroup JSC (Vingroup) started construction on its smart phone factory in Hà Nội on Monday.
— Viet Nam News

Mitsui raises Minh Phú Seafood stake to 35 per cent
MPM Investments Pte Ltd, a subsidiary of Japan’s Mitsui & Co Ltd, has acquired 60 million shares in Minh Phú Seafood Joint Stock Company (MPC) to raise its stake in the Vietnamese shrimp processor to 35.1 per cent.
— Viet Nam News

Vietnam warns PH cement safeguard ‘violates’ WTO
Vietnam, the largest cement exporter to the Philippines, has warned that the imposition of safeguard duty on imported cement is “inconsistent” with the WTO agreements.
— MB

Hanoi & Phu Quoc among CNN’s top 17 Asian destinations
Vietnam’s capital Hanoi and Phu Quoc Island off the coast of the Mekong Delta’s Kien Giang province have been listed among the top 17 destinations to visit in Asia by CNN Travel.
— Vietnam Insider

Vietnam emerges top Asia-Pacific travel choice for Russians
Russian traveling to the Asia-Pacific region heavily favor Vietnam and neighbor Thailand, says global travel analysis firm ForwardKeys.
— VnExpress

Vietnam Cracks Down on relabelled Chinese-Made Goods Being Shipped to U.S
Vietnam said it will impose higher penalties on Chinese goods transferred to the country and illegally relabeled as made-in-Vietnam for export to the U.S. to dodge tariff hikes.
— Vietnam Insider

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