Vietnam Morning News For June 18

ASEAN’s Biggest Solar Farm Project Commences Operations in Vietnam
With Dau Tieng 1-2 billed as the largest solar facility in Southeast Asia to date with a total capacity of 420 MW, and the 257-MW Phu Yen, BGRIM operates 45 power projects with a combined installed capacity of 2,892 MW.
— Chiangrai Times

Vietnam slaps tariffs on Chinese aluminum seeking haven in US-China trade war
Vietnam is taking drastic measures to prevent the shipment of Chinese products labelled “Made in Vietnam”.
— The Hanoitimes

Mastercard names FE Credit as the “Best in Card Acquisition” in Vietnam
FE CREDIT, one of the largest consumer finance companies in Vietnam, was recently recognized by Mastercard as the “Best in Card Acquisition” in the country.
— Vietnam Insider

Vietnam Becomes Second Largest Exporter Of Lychees: VDSC
Vietnam has become the second largest exporter of lychees in the world, accounting for 19% of the global market share, according to the International Society for Horticultural Science (ISHS).
— Vietnam Insider

Big players vie for Vietnam’s delivery market share
Online shops could be the major clients of the firms as they have diverse service requests. In this field, small firms have bigger advantages than large ones. Delivery services can also seek niche markets such as instant delivery services, low-cost services and delivery of specialized products.
— The Hanoitimes

Growing Chinese investment in Việt Nam: time to worry?
Chinese investors are accelerating its investments in Việt Nam which have raised concerns of the Vietnamese enterprises being acquired by Chinese companies.
— Viet Nam News

Vietnam to foot $1.1 bln bill for diabetes by 2025
Given the high rate of diabetics in Vietnam, treatment costs for the disease are expected to soar to $1.1 billion by 2025.
— VnExpress

Social media for political and social stability in Vietnam
Politburo member, Secretary of the Communist Party of Vietnam (CPV) Central Committee and Head of the CPV Central Committee’s Commission for Communication and Education Vo Van Thuong has run an article on social media and its influence on political and social stability in Vietnam. Following is the brief of the article.
— NDO

Construction of $162m port complex gets green light
The complex will cost more than VNĐ3.77 trillion (US$162 million) and will be divided into two phrases, online newspaper baodautu.vn reported.
— Viet Nam News

Vietnam fintech sector set for ‘bloodbath’ competition
Vietnam’s fast-growing but fragmented digital payments market is set for a wave of consolidation following the recent merger of e-wallet service VIMO and point-of-sale startup mPOS, with one analyst predicting a “bloodbath” as competition heats up.
— Nikkei Asian Review

Vietnamese securities catch the eye of South Korean investors
The Vietnamese stock market now has many South Korean-owned securities companies following a series of acquisitions in recent years.
— Viet Nam News

AEON plans to quadruple sourcing from Vietnam
Japanese retail giant AEON plans to quadruple the value of products it purchases from Vietnam to $1 billion by 2025.
— VnExpress

7 reasons to visit Hoi An, one of Vietnam’s most beautiful towns
Set on the banks of the Thu Bon River in central Vietnam, Hoi An is easily one of the most beautiful towns in Southeast Asia.
— CNN

Vietnam raises reference exchange rate
Vietnam’s central bank on Monday adjusted up its reference exchange rate between Vietnamese dong and U.S. dollar by 10 Vietnamese dong to 23,069 Vietnamese dong per U.S. dollar.
— Xinhua

Central province okays two tourism projects worth $64 mln
Quang Ngai has approved in principle two tourism projects which together cost almost VND1.49 trillion ($64 million).
— VnExpress

$32 million solar plant powers up in Ninh Thuận
A solar power plant costing VNĐ747 billion (US$32 million) opened in the south central province of Ninh Thuận last week.
— Viet Nam News

Petrol prices sharply reduced
The retail price of RON 95 dropped by VNĐ1,085 to a maximum of VNĐ20,134 (US$0.86) per litre at 3pm on Monday, the ministries of Industry and Trade and Finance announced.
— Viet Nam News

Fast food chains in the slow lane in Vietnam amid focus on health
International fast food chains fighting to increase their Vietnam market share are challenged by consumers leaning towards healthier options.
— VnExpress

JG Summit Holdings keens on Việt Nam’s tea, plastic recycling sectors
The Philippines’ JG Summit Holdings expects to participate in public private co-operation projects to develop a sustainable tea industry in Việt Nam, said its CEO Lance Y. Gokongwei.
— Viet Nam News

Malaysian fund acquires major Vietnam education company
Malaysia’s Navis Capital Partners has announced the acquisition of Thanh Thanh Cong Education, which owns 17 educational institutions in Vietnam.
— VnExpress

Vietnamese securities catch the eye of South Korean investors
The Vietnamese stock market now has many South Korean-owned securities companies following a series of acquisitions in recent years.
— Viet Nam News

Vietnam allows policemen to work until 70
A new decree is set to allow specialist police officers to work for another 10 years after their normal retirement age.
— VnExpress

Endangered sea turtle found in fishing net
An endangered sea turtle was found in a fishing net in Mỹ Xuyên District in the southern Mekong Delta province of Sóc Trăng on Saturday.
— Viet Nam Net

Mining blamed for pollution in Đắkrông River
Mining on the upper part of the Đắkrông River in central provinces of Thừa Thiên -Huế and Quảng Trị had polluted the river, affecting the lives of tens of thousands of people.
— Viet Nam Net

Vietnam ETF Offers Opportunity With Some Risk-adjusted
The VanEck Vectors Vietnam ETF (NYSEArca: VNM), the lone US-listed exchange traded fund dedicated to Vietnamese stocks, offers exposure to a fast-growing market, but with some of the usual risks associated with investing in frontier or emerging markets.
— ETF Trends

An Phát Group accelerates investment in the US
An Phát Holdings Group is accelerating its construction of an environmentally-friendly packaging factory with 300 production lines in the US.
— Viet Nam News

Year’s 2nd Vietbuild to be held in HCM City this week
The Vietbuild International Exhibition with the theme construction, building materials, real estate, and interior and exterior decoration will be held in HCM City from June 19 to 23.
— Viet Nam News

$17,000 hatchback from Vietnam rolls out to take on Ford and Toyota
Real-estate conglomerate Vingroup JSC’s auto unit VinFast marked the rollout of its first vehicles from its assembly line on Friday, embodying the aspirations of the fast-developing country’s government to build a modern manufacturing sector.
— Detail News

Foreign tourists rescued from Hanoi hotel fire
A fire at a hotel in Hanoi’s Old Quarter Monday morning caused foreign guests to flee in panic, but there were no casualties.
— VnExpress

Vietnamese, Russian leaders exchange greetings on friendship ties anniversary
Party General Secretary and President Nguyen Phu Trong and President of the Russia Federation V. V. Putin have exchanged greetings on the occasion of the 25th anniversary of the treaty on basic principles for the bilateral friendship (June 16, 1994-2019).
— Sggp News

European high-end interiors brands flock to Vietnam
Vietnam is attracting Italian and other European interior manufacturers with its strong demand for premium furniture.
— VnExpress

Cajuput tree trellises used to grow pepper
Farmers in Kiên Giang Province’s Gò Quao District are using environmentally-friendly cajuput trees as trellises instead of concrete or wooden pillars to grow pepper plants.
— Viet Nam Net

Feature photo Justice for Lai Dai Han

This week’s Vietnam morning news feature photo acknowledges International Day for the Elimination of Sexual Violence in Conflict, June 19.

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.