Vietnam Morning News For June 26

Vietnam Silicon Valley Accelerator invests $40,000 in startups
Vietnam Silicon Valley Accelerator (VSVA) – the first Vietnamese Government project to directly support startups – continues to invest in startups this year, with capital of $40,000, double that in 2018, through the “VSV Bootcamp Program Batch 7”.
— Vietnam Insider

Made in Vietnam: US-China tensions spark a manufacturing shift but not without growing pains
Multinational companies are starting to question whether it’s time to shift production out of China due to the ongoing trade war between Washington and Beijing.
— CNBC

Two Vietnamese get nine-month flight bans for smoking
Vietnam’s aviation authorities have imposed nine-month bans on two Vietnamese men after they failed to pay fines for smoking on domestic flights.
— Vietnam Insider

Việt Nam posts trade surplus as of June 15
Rising export value this month has helped Việt Nam gain a trade surplus for the year so far of nearly US$70 million as of June 15 after posting a trade deficit of $434 million in the first five months.
— Viet Nam News

Vietnamese enterprises explore export opportunities in South Africa
A trade promotion delegation, including 22 Vietnamese enterprises, is currently on a working visit to South Africa, from June 21 to 29, to advertise products, seek import partners, establish partnerships and explore opportunities for business and investment cooperation.
— NDO

E-wallets’ latest converts: HCM City street vendors
From morning to early afternoon Nguyn Văn Chiêm in HCM City’s District 1 is bustling with food vendors selling breakfast and lunch and customers coming to eat.
— Viet Nam News

Vietnamese fishing communities seek justice in lawsuit against Taiwanese corporation
In April 2016, a group of divers off the coast of central Vietnam’s Ha Tinh province discovered a plume of red and yellow liquid pouring into the ocean from a pipe. The pipe was a sewage line connected to a steel plant run by Taiwanese company Formosa Plastics Group.
— Asean Today

Việt Nam attracts less FDI in first half of the year
Foreign investors registered to pour US$1.73 billion into Việt Nam in June, bringing the total amount of foreign direct investment (FDI) committed to the country in the first six months of the year to $18.47 billion, down 9.2 per cent year on year. Experts have said the decline is due mainly to a number of large-scale.
— Viet Nam News

Vietnam to take an active part in G20 Summit: ambassador
Vietnam will take an active part in the upcoming G20 Summit in Osaka, Japan, where it will participate as a guest at the invitation of host Prime Minister Shinzo Abe, according to Vietnamese Ambassador to Japan Vu Hong Nam.
— VietnamPlus

Vietnam posts highest-ever power consumption due to hot waves
The peak power output (Pmax) hit 38,147 MW on June 21, the highest figure recorded in Vietnam so far.
— The Hanoitimes

Foreign investors to reset Vietnam’s fintech market
The number of fintech companies have increased rapidly in Vietnam in recent years as the industry has high growth potential while the government encourages cashless transactions.
— The Hanoitimes

Rice exports shrink in first five months
Vietnam’s rice exports fell 6.3 percent in volume and 20.4 percent in value in the first five months of 2019 compared to the same period last year.
— VnExpress

Oil & petrol exports exceed 311,000 tonnes in May
Vietnam shipped more than 311,000 tonnes of oil and other petrol products in May for 191 million USD, up 1.9 percent in quantity and 2.3 percent in value compared to April.
— VietnamPlus

Vero announces wholly owned offer in Vietnam with digital focus
Vero today announced the launch of a wholly owned offering in Vietnam. The Vero office in Vietnam includes a team of digital-focused account managers, planners, creatives, and media and influencer relations specialists who share a goal of building impactful stories and delivering integrated campaigns for local and international brands.
— Digital Journal

Vietnamese authorities and fishermen against Beijing’s South China Sea ban
China is preventing fishing in disputed waters. The area subject to the ban extends from 12 degrees north latitude to China’s southern provinces of Fujian and Guangdong. Meanwhile, Vietnamese fishing boats continue to be attacked and intimidated.
— Asia News

Vietnam, Australia enhance training of senior officials
The Ho Chi Minh National Academy of Politics (HCMA) and the Department of Foreign Affairs and Trade of Australia will work together to intensify the training of senior officials for Vietnam.
— NDO

Covered warrants to be officially listed on June 28
Covered warrants (CWs) will be officially listed and traded on the Vietnamese stock market from June 28, according to the State Securities Commission of Vietnam (SSC).
— NDO

Vietnam, UK seek to foster trade, investment links
A memorandum of understanding (MoU) to promote relations between Vietnamese localities with UK partners, towards strengthening trade and investment cooperation between the two countries was signed in London on June 24.
— NDO

Vietnam and India see explosion in direct investment from China as tech suppliers shift production overseas, says Goldman Sachs
Vietnam and India have seen an explosive surge of investment from Chinese companies shifting their production capacity abroad as they try to minimise the affects of the trade war, research by Goldman Sachs has found.
— Yahoo News

CP Vietnam plans hatchery with Jamesway machines
Responding to the growing demand for poultry in Asia, CP Vietnam is opening a new hatchery in Chon Thanh District in Binh Phuoc Province and have chosen Jamesway machines.
— The Poultry Site

Pacifico Energy brings online 40-MWp solar park in Vietnam
Asian renewables developer Pacifico Energy KK announced Monday that its 40-MWp Mui Ne solar photovoltaic (PV) park in Phan Thiet city, Vietnam, started operations on June 12.
— Renewables Now

Forest industry posts trade surplus of more than $4b in H1
The forest industry gained a trade surplus of US$4.03 billion in the first six months of this year, according to the Việt Nam Administration of Forestry under the Ministry of Agriculture and Rural Development.
— Viet Nam News

Vietnam architects campaign to save cathedral
Architects in Vietnam are concerned that plans to renovate an historic cathedral could lead to its destruction.
— BBC

Clean production gets fruity in export
In the coming year, the value of Vietnamese goods sold into modern retail system Aeon Group (Japan) will likely reach US$0.5 billion and is expected to reach $1 billion in the next five years.
— Viet Nam News

Việt Nam to perfect its legal systems in compliance with new era’s demand
Prime Minister Nguy Xuân Phúc yesterday attended a national science conference to explore ways of improving the Vietnamese legal system.
— Viet Nam News

PM requests investigation into Asanzo’s alleged faked made-in-Vietnam products
Vietnam’s leading electronic firm Asanzo admitted using up to 80% of foreign-made components for the company’s self-claimed made-in-Vietnam products including televisions and air-conditioners.
— The Hanoitimes

MARD plans to develop more quality plant and animal breeds
The Ministry of Agriculture and Rural Development (MARD) will continue to develop breeding sources for the agriculture sector according to the needs of market, said Minister of Agriculture Nguy Xuân Cường at a workshop held to review the seed production plan.
— Viet Nam News

Vietnam leads way as giants’ trade spat bites
Vietnam is reaping the lion’s share of benefits from the US-China trade war as manufacturers transfer their supply chains to avoid US tariffs, according to one analyst.
— Bangkok Post

Unlisted Public Company Market promises investors better performance
The Unlisted Public Company Market (UPCoM) has grown over the last 10 years and become more transparent, attracting increased interest from investors.
— Viet Nam News

BGRIM’s Vietnam solar projects come on line adding 31% to operating capacity
B.Grimm Power Plc (BGRIM), one of Thailand’s largest private power producers, successfully commenced commercial production from its two large solar power schemes in Vietnam with a combined total installed capacity of 677 megawatt during June 3-13, 2019.
— Bangkok Post

8 tech providers form Vietnamese security group
Initiative will set out to analyse, research, propose and implement measures to build and develop the market for information security inspection, assessment and verification services in Vietnam.
— Channel NewsAsia

Samsung C&T-led consortium wins LNG terminal project in Vietnam
Samsung C&T Corp., a construction unit under Samsung Group, said Tuesday it has won a US$179.5 million project to build a liquefied natural gas (LNG) terminal in Vietnam.
— YNA

Deep tech startups have lower risks, less need for big money
Tuan Cao, CEO of Genetica, said starting a business in deep tech only needs simple conditions and a question good enough to solve.
— Vietnam Insider

Vietnam stock market mired by being insular
MSCI notes that the Vietnamese equity market is significantly impacted by issues concerning access to foreign investors, as well as equal rights to foreign investors.
— Business Times

Vietnam – China Youth Development Forum
The Vietnam – China Youth Development Forum took place in Zunyi city, Guizhou province, China, on June 24, as part of activities as part of the 19th Vietnam-China youth friendship meeting.
— NDO

Vietnam’s investment arm SCIC to sell state stakes in 108 firms
Taking into account the potential sale of 108 SOEs in the list, SCIC’s revenue in 2019 could reach VND21.6 trillion (US$934.55 million).
— The Hanoitimes

Việt Nam, EU to sign EVFTA on June 30 in Hà Nội
The European Council announced on Tuesday that it has approved the European Union – Việt Nam Free Trade Agreement (EVFTA) and the EU – Việt Nam Investment Protection Agreement (EVIPA), and assigned the EU to sign the deals with Việt Nam on June 30 in Hà Nội
— Viet Nam News

VN, South Africa explore boosting trade relations
Despite the geographical distance, bilateral trade between South Africa and Việt Nam has increased from US$658 million in 2010 to more than $1 billion in 2018.
— Viet Nam News

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