Vietnam Morning News For March 4

Industry 4.0 to boost GDP: experts
The Fourth Industrial Revolution could increase Viet Nam’s GDP by between US$28.5 billion and $62.1 billion – equivalent to a rise of 7 to 16 per cent – by 2030, Director of the Central Institute for Economic Management (CIEM) Nguyen Dinh Cung said at a seminar in Ha Noi on Friday.
— Bizhub

High quality needed for Vietnam’s exports to China
Unofficial exports over the border to China will face technical barriers since the two nations have agreed to limit them and increase official exports, heard a recent seminar in Ho Chi Minh City.
— VNA NET

Vietnam’s Danang poaches tourists from Phuket and Bali
A central Vietnamese port city made infamous by a war that ended more than 40 years ago is now stepping up to compete with some of Southeast Asia’s most famous beach resorts.
— Nikkei Asian Review (paywall)

February’s industrial production index declines due to lunar New Year
The nine-day Lunar New Year holiday made February’s index of industrial production (IIP) down 16.8 percent against the previous month, according to the General Statistics Office (GSO).
— VietnamPlus

Huge investment to touch down in Da Nang
The central city of Da Nang aims to accelerate economic growth from 7.68 percent to 12 percent, while more drastic measures and administrative reforms are needed to turn the city into an as a destination to investment and tourism.
— VNA NET

Vietnam Inks $21-Billion Aviation Deals With Boeing, GE
Two Vietnamese budget airlines signed $20.9 billion worth of deals on February 27 to purchase planes from Boeing and engines from General Electric (GE) on the sidelines of the summit between US President Donald Trump and North Korean leader Kim Jong-un.
— Investvine

Transport ministry claims 60% of HCM City residents support motorbike ban
A Ministry of Transport survey claims that more than 60% of residents in HCM City support the plan to restrict cars and motorbikes in the city centre.
— Vietnam Insider

Property developers eye emerging markets
Distance is no longer a problem for property investors in and around HCM City thanks to improved transport infrastructure.
— Bizhub

Banks, insurers boost bancassurance to get returns
Banks and insurance companies are ramping up co-operation in selling life insurance products (bancassurance) to cash in on the high growth segment as some have posted annual triple-digit growth rates in the business.
— Bizhub

VN records trade deficit of $84m in two months
Viet Nam saw a trade deficit of US$84 million in the first two months of this year, according to the General Statistics Office (GSO).
— Bizhub

Divestment from VEAM Corp hampered by joint venture commitments
State divestment from agricultural machinery producer VEAM may be delayed by capital contribution agreements with Honda and Toyota.
— VnExpress

State capital at four firms to be auctioned in March
About 7.42 million shares of four companies invested with State capital will be auctioned at the Hanoi Stock Exchange (HNX) this March.
— VNA NET

Vietnamese tourist denied entry into Taiwan over undeclared pork snack
A Vietnamese woman fined $6,500 fine for not declaring a pork snack returned from Taiwan Wednesday without entering the territory.
— Vietnam Insider

North Korea’s Kim Jong Un heads home from Vietnam after Trump nuclear summit collapse
Talks between Kim and Trump broke down on Thursday in a dispute over how much sanctions relief Washington should provide Pyongyang in return for nuclear disarmament steps.
— NBC News

Mini paper offerings make tradition green
The burning of joss paper in the form of personal items is a popular tradition around Việt Nam. The paper is burned as part of rituals to honour dead ancestors and the gods. However, as society becomes more environmentally-conscious, the practice has caused controversy. A group of artists has tried to find a solution to satisfy everyone – making the paper models smaller.
— Viet Nam News

Over 18.8 trillion VND raised from G-bond auctions in February
The State Treasury of Vietnam raised more than 18.8 trillion VND (809.9 million USD) via 10 Government bond (G-bond) auctions on the Hanoi Stock Exchange (HNX) in February, down 48 percent from the previous month.
— VNA NET

HCMC to spend $1.2 million on canal clean-up
HCMC will spend more than VND28 billion ($1.2 million) to clear its canals off water hyacinth, other weeds and waste.
— Vietnam Insider

Traffic cameras to be installed nationwide
Surveillance cameras to monitor traffic violations will be installed on a trial basis in Hanoi and HCM City by 2020 and nationwide by 2022, according to the Government.
— VNA NET

5-star hotel InterContinental Hanoi Westlake sold to Vietnamese firm
Malaysia-based Berjaya Group has sold its 75 percent stake in the five-star InterContinental Hanoi Westlake hotel to Hanoi Hotel Tourism Development Company JSC.
— VnExpress

Quang Ninh works to attract flights to Van Don int’l airport
Northern Quang Ninh province is offering incentives to promote the opening of flights to Van Don International Airport, the first airport to be invested by a private business in Vietnam.
— VNA NET

US-Vietnam economic relations: The China factor
While addressing a joint Press Conference at Hanoi, after his summit, with North Korean Leader Kim Jong Un, US President, Donald Trump spoke not just about the Summit, but also the current state of US-China relations.
— Modern Diplomacy

Vinachem tries to sell Lao potassium mine
State-owned chemical group Vinachem is trying to retrieve investment and minimize losses from a half-built Lao potassium mine.
— VnExpress

Property developers eye emerging markets
Distance is no longer a problem for property investors in and around Ho Chi Minh City thanks to improved transport infrastructure.
— VNA NET

Subcommittee prepares documents for 13th National Party Congress
Economic experts and scientists gathered at a meeting chaired by Prime Minister Nguyen Xuan Phuc in Hanoi on March 2 to work on documents on socio-economic development strategies to be summited to the 13th National Party Congress.
— VNA NET

Hanoi plans 40 sports for 31st SEA Games
The 31st Southeast Asian (SEA) Games will have more sports than in the past, according to the Vietnam Sports Administration.
— VNA NET

Vietnamese in Ukraine help with bilateral relations
Key cadres of the Vietnamese community in Ukraine had a meeting in Kiev on March 1 to review their performance last year and set up orientations for activities in 2019.
— VietnamPlus

Over 3,000 people join mass performance in 6th Ao Dai festival
More than 3,000 people wearing ao dai (traditional long dress) joined in a mass performance in Nguyen Hue pedestrian street on March 3, part of the ongoing 6th Ao Dai Festival in Ho Chi Minh City.
— VNA NET

Vietnamese man nabbed for stirring up protests during second Trump-Kim summit
Police in Vietnam have apprehend a man for spreading faux information on social media with an attempt to incite public demonstrations during the second U.S.-North Korea Summit that took place in Hanoi earlier this week.
— Vietnam Insider

PM hails women entrepreneurs’ role in national development
Prime Minister Nguyen Xuan Phuc received representatives of the Vietnam Association for Women Entrepreneurs in Hanoi on March 2.
— VNA NET

Feature photo VietnamShare.vn

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.