Vietnam Morning News For June 6

Vietnam begins to adopt chip bank cards
Since the start of the year, the Vietnamese government has underlined the role of cashless payment, which recently received a boost when the State Bank of Vietnam (SBV) has also asked card issuers to switch at least 30% of their cards from magnetic stripe to chip cards, especially contactless cards.
— NDO

Vietnam’s credit growth up 5.07 pct in 5 months
Total loans of Vietnam’s banking system in the first five months of this year expanded 5.07 percent against the end of 2018, according to the State Bank of Vietnam on Wednesday.
— Xinhua

Online tax payment a boon to import-export businesses
Around 99 per cent of import and export tax payments in HCM City are made online, according to the customs department.
— Viet Nam News

Trade authority to take flexible trade policy to support exports
The Ministry of Industry and Trade (MoIT) will take the initiative in changing trade policies and collaborate with other ministries and localities to effectively support domestic enterprises to increase exports, it said.
— Viet Nam News

HCM City seeks investors for nine plots in Thủ Thiêm
HCM CITY will organise an auction to seek investors for the right to use nine land plots in the Thủ Thiêm new urban area in District 2.
— Viet Nam News

Foreign students seek medical experience in Vietnam
More foreign students and doctors are coming to study at Vietnamese hospitals in a development that benefits both sides.
— VnExpress

In Vietnam beer war, Heineken and Sabeco seek to take each other’s turf
In Vietnam, one of the world’s largest and fastest-growing beer markets, new battle lines are being drawn as Heineken NV and local industry leader Sabeco hone their product offerings and build up marketing muscle.
— Channel NewsAsia

Japanese diplomat confident Vietnam will be elected to UNSC
On the threshold of the election of five countries as non-permanent members of the United Nations Security Council slated for June 7, a Japanese high-ranking diplomat has expressed his belief that Vietnam will have a high chance to win the election.
— NDO

How to Terminate an Employee in Vietnam
Terminating an employee can be challenging for foreign investors in Vietnam. Blossoming foreign investment and emerging opportunities throughout cities such as Ho Chi Minh City and Hanoi often provide existing staff with a variety of alternative work destinations leading to higher turnover rates.
— Vietnam Briefing

Vietnamese enterprises seeks export opportunities in China
Forty Vietnamese enterprises will join a business trip to explore export opportunities in the Chinese cities Nanning and Kunming from June 10-13.
— Viet Nam News

Central bank enhances measures against loan sharks
Governor of the State Bank of Việt Nam (SBV) Lê Minh Hưng on Monday instructed agencies to rapidly research and propose new policies to enable the expansion and diversification of lending and bank services with the aim of fighting loan sharks.
— Viet Nam News

AC Energy’s Vietnam plants activated
AC Energy Inc., the power arm of the Ayala Group, recently switched on in Vietnam its two solar power plants worth $83 million.
— Manila times

Transport ministry wants to treat ride-hailing firms like taxis until law enacted
The Ministry of Transport has suggested it could treat ride-hailing services like taxi companies until there is a law in place to regulate them.
— VnExpress

How Vietnam Will Avoid Currency ‘Manipulator’ Label, Save its Economy
Vietnam is likely to make concessions to the United States so it can escape a U.S. watch list of possible currency manipulators and head off a hit to its fast-growing economy led by exchange rate-sensitive exports, analysts who follow the country say.
— VOA

Viet Nam: Sham trial shows authorities ‘abusing Facebook’ to silence criticism
Ahead of the court hearing in the case of Nguyen Ngoc Anh tomorrow, Nicholas Bequelin, Amnesty International’s Regional Director for East and Southeast Asia, said:
— Amnesty

Sharp completes 49-MW solar power plant in Vietnam
Sharp Energy Solutions Corporation (SESJ), part of Sharp Corporation (TYO:6753), said today it has completed a 49-MW direct current (DC) solar power plant in Vietnam.
— Renewables Now

Vietnam earns less from seafood export in 5 months
Vietnam gained nearly 3.2 billion U.S. dollars from exporting seafood, mainly prawns and catfish in the first five months of this year, seeing a year-on-year decline of 1 percent, according to the Vietnamese Ministry of Agriculture and Rural Development on Wednesday.
— Xinhua

US blueberries touchdown in Vietnam
Some of the first US-grown blueberries will land in Vietnam this week following the removal of trade barriers.
— Fruitnet

Shared database needed to fight tax loss in e-commerce
There should be a shared database of online sellers to make sure tax collection in e-commerce activities is sufficient, officials have said.
— VietnamPlus

China’s Sichuan province promotes tourism in Vietnam
A programme promoting the culture and tourism of Sichuan, a province in southwest China, was held in Hanoi on June 3 in a bid to attract more Vietnamese tourists to the province and boost bilateral cooperation on tourism projects.
— NDO

Vietnam looks to build criteria for ecological seaports
Standards for Vietnamese ecological seaports will help build a professional environment management system, thus raising seaport management units’ awareness of environmental protection, said Dr. Du Van Toan from the Vietnam Administration of Seas and Islands’ Vietnam Institute of Seas and Islands.
— VietnamPlus

Vietnam becomes Startup hub, Billionaire Mai Vu Minh takes notice
Vietnam is becoming one of the hottest startup hubs, not only in Asia, but in the world. This is validated by the locals’ recent achievements in the industry, including winning a prestigious entrepreneur competition against the rest of the globe.
— IB Times

Vietnamese SMEs shown how to enter global supply chains
Vietnam is among the top countries attracting foreign direct investment in the Asia-Pacific region, but the rate of domestic small- and medium-sized enterprises (SMEs) participating in the value chains of foreign-invested companies is rather low, according to the Investment and Trade Promotion Centre of Ho Chi Minh City (ITPC).
— VietnamPlus

EVN to complete divestment in 2019
In 2011-15, EVN completed divestment at its non-core businesses, earning VNĐ2.3 trillion and capital surplus of VNĐ127 billion.
— Viet Nam News

VN hopes to enter MSCI watchlist this year, but experts are uncertain
One year after failing to enter MSCI’s watchlist for a market status upgrade, it is still uncertain if Việt Nam will make it this year despite efforts made to improve market conditions.
— Viet Nam News

Quang Ngai province’s largest solar power plant inaugurated
Binh Nguyen solar power plant, with investment from Truong Thanh Quang Ngai Power And High Technology Joint Stock Company, was inaugurated in Nam Binh hamlet, Binh Nguyen commune, Binh Son district, on June 4, becoming the largest solar power plant to date in Quang Ngai province.
— NDO

Residential solar power purchase begins in central region
The Central Power Corporation (CPC) under the Vietnam Electricity (EVN) has paid nearly VNĐ1 billion (US$43,000) to buy solar power from 134 residential roof-top systems in the central and Central Highlands regions since 2018.
— Viet Nam News

Vietnamese SMEs shown how to enter the global supply chain
Việt Nam is among the top countries in attracting foreign direct investment in the Asia-Pacific region, but the rate of domestic small and medium-sized enterprises participating in the value chains of foreign-invested companies is rather low, according to the Investment and Trade Promotion Centre …
— Viet Nam News

Symposium discusses Russia – Vietnam cooperation in the contest of economic globalisation
An international symposium themed ‘Russia – Vietnam cooperation in the context of economic globalisation’ was held in Moscow, Russia, on June 4 by the Russian Academy of Sciences (RAS).
— NDO

Fine art and handicraft exports surge in five months
The country’s fine art and handicraft exports experienced a significant increase of 50 per cent to reach US$45 million in May, according to statistics from the General Department of Customs.
— Viet Nam News

Shared database needed to fight tax loss in e-commerce
There should be a shared database of online sellers to make sure tax collection in e-commerce activities is sufficient, officials have said.
— Viet Nam News

Kien Giang home to 49 FDI projects
The Mekong Delta province of Kien Giang has so far attracted 49 foreign direct investment (FDI) projects with a combined registered capital of over 2.75 billion USD.
— VietnamPlus

Exports rise thanks to trade war: VNDS
Export growth rebounded sharply in April, up 10.4 per cent year-on-year, while May’s industrial production index increased by 10 per cent year-on-year.
— Viet Nam News

Central bank enhances measures against loan sharks
Governor of the State Bank of Việt Nam (SBV) Lê Minh Hưng on Monday instructed agencies to rapidly research and propose new policies to enable the expansion and diversification of lending and bank services with the aim of fighting loan sharks.
— Viet Nam News

Vietnam imposes temporary anti-dumping duties on aluminium extrusion from China
Vietnam’s ministry of industry and trade imposed temporary anti-dumping duties on aluminium extruded products originating from 17 Chinese producers on Wednesday June 5, according to an announcement on May 29.
— Metal

HCM City to try again to auction advertising space on buses
An auction for leasing advertising space on HCM City buses will now be held between June 21 and July 18 following four previous unsuccessful attempts.
— Viet Nam News

Shares recover on bottom fishing
Vietnamese shares recovered yesterday from Monday’s sharp fall which sent stocks down to attractive prices, thus triggering investors to buy in.
— Viet Nam News

Feature photo Communist Party of Vietnam Online Newspaper

This week’s morning news photo features International Day for the Fight against Illegal, Unreported and Unregulated Fishing, June 5.

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.