Vietnam Morning News For March 6

More needed: Vietnam’s waste-to-energy power policies not powerful enough
As regional public discontent over environmentally destructive plastic straws and single-use plastic bags increases, Vietnam is finding itself facing a multitude of environmental challenges. At the same time energy demand is forecast to grow by 10 per cent by 2020. While plastic bags and drinking straws won’t cure Vietnam’s increasing need for electricity, foreign and local experts say Vietnam has significant potential for producing energy from solid waste.
— AEC News Today

E-commerce may be booming but fake goods still aplenty
E-commerce is a potential goldmine for businesses over the next two years with a potential reach of US$10 billion.
— Bizhub

Vietnam’s automobile import surges 105.1 pct in 2 months
Vietnam spent over one billion U.S. dollars importing completely-built automobiles and components for assembly in the first two months of this year, gaining a year-on-year surge of 105.1 percent.
— Xinhua

Banking, real estate sectors post high profits
The banking sector recorded the highest after tax profits of all sectors at VND68.01 trillion ($2.92 billion), up 31.3 percent over 2017, according to a recent report by the Saigon Securities Inc (SSI).
— Vietnam Insider

Petrol prices up nearly VNĐ1,000 per litre
The prices of oil and petrol have climbed nearly VND1,000 (US$0.043) per litre following the latest adjustment by Ministry of Finance and the Ministry of Industry and Trade on Saturday.
— Bizhub

Real-Estate Developers Look to Vietnam for Cheap Financing
As Chinese investors sour on a program that offers American residency in exchange for certain real-estate investments, U.S. developers are turning to a new, fast-growing source of cheap capital: Vietnam.
— Wall Street Journal

Lower trade surplus expected for 2019
The domestic economy is expected to see a climb in import turnover, but a slowdown in export turnover in 2019, as global demand is forecast to see a go-slow caused by a wide range of reasons.
— Nhan Dan Online

GrabFood grabs pole position in Vietnam food delivery market
Despite being a new entrant, GrabFood has experienced rapid growth in the online food delivery market.
— VnExpress

Retail sales, service revenues increase in 2 months
The country’s total retail sales and services revenue rose 12.2 per cent year-on-year to VND793.8 trillion (US$35.2 billion) in the first two months of this year.
— Bizhub

Cement, clinker exports see strong surges
Vietnam exported 5.37 million tonnes of cement and clinker in the first two months of 2019, raking in 228 million USD, year-on-year increases of 7.4 percent in volume and 29.9 percent in value.
— VNA NET

Japan’s Acecook aims to double cup noodle sales in Vietnam
Japanese instant-noodle maker Acecook aims to increase sales of cup noodles in Vietnam to around 350 million servings in 2022, more than double 2017 levels, as consumers in the growing economy shift to pricier yet more convenient alternatives to bagged instant noodles.
— Nikkei Asian Review (paywall)

Vietnam climbs in ranking of top countries
Vietnam’s up five notches in a ranking of countries with a rich heritage, high growth rate and business openness. A recent report of U.S. News and World Report has ranked Vietnam 39 out of 80 economies, up from 44 last year.
— Vietnam Insider

Vietnam Airlines launches “Hello Summer” promotion
National flag carrier Vietnam Airlines will launch its biggest annual promotion “Hello Summer 2019” on 90 domestic and foreign routes from March 15-24.
— VNA NET

Farming products face difficulties in export this year
The consumption of farming products is expected to face difficulties this year, with increased competition in the global market.
— Bizhub

Cashew price to recover this year
Cashew prices are expected to recover this year on the global market and producers should promote cooperation to remain stable.
— Viet Nam News

Saigon metro authorities request another advance payment to pay staff
HCMC metro officials have asked the city for a VND39 billion ($1.67 million) advance payment to pay staff salaries.
— VnExpress

Forbes Vietnam’s list of 50 most influential women revealed
Business magazine Forbes Vietnam revealed on March 4 its list of the 50 most influential women in Vietnam in 2019, 20 of whom are entrepreneurs.
— Nhan Dan Online

National flag carrier promotes Vietnam on int’l TV channels
The national flag carrier Vietnam Airlines has made a short film on Vietnam, which was broadcast on BBC and CNN television channels.
— VNA NET

Japan promotes investment in manufacturing in Vietnam
Japanese businesses appreciate Vietnam’s business and investment environment and tend to boost investment in manufacturing in Vietnam.
— Nhan Dan Online

40 Years After The Vietnam War, Some Refugees Face Deportation Under Trump
More than four decades after the Vietnam War brought waves of expatriates to the United States, the Trump administration wants to deport thousands of Vietnamese immigrants, including many refugees, because of years-old criminal convictions.
— NPR

Vietnam, Singapore lead gains in Asean on trade deal hopes
Vietnam and Singapore shares led gains in Southeast Asia on Monday, lifted by growing signs that the US and China are close to striking a trade deal that could end a long-drawn tariff row.
— The Star Online

Vietnam calls for ‘drastic measures’ to fight African swine fever
Vietnam’s prime minister has called for “drastic measures” to fight the spread of African swine fever in the Southeast Asian country, state media reported on Tuesday.
— TimesLive

Vietnam’s PMI declined to 51.2 in February
Vietnam’s Manufacturing Purchasing Managers’ Index (PMI) in February fell for the third month in a row to 51.2, according to the latest reports from Nikkei and IHS Markit.
— VNA NET

Japanese investors highly evaluate Vietnam’s business environment
Japanese companies highly evaluate Vietnam’s business climate and tend to boost investment in the manufacturing industry, heard a press conference held by the Japan External Trade Organization (JETRO) Office in Ho Chi Minh City on March 4.
— Vietnam Insider

Quang Tri licences six renewable energy projects in two months
The central province of Quang Tri has approved investment plans for four wind and two solar power projects, whose costs amount to more than 7.4 trillion VND (319.1 million USD).
— VNA NET

Innovation centre crucial for Vietnam to move forward with Industry 4.0: PM
The National Innovation Centre (NIC) is a hallmark in the national strategy on the Fourth Industrial Revolution (Industry 4.0), Prime Minister Nguyen Xuan Phuc has said.
— Nhan Dan Online

GoBear Vietnam inks deal with FE Credit
GoBear, Asia’s first and only metasearch engine for insurance and banking products, and FE Credit, the largest lender in Vietnam’s consumer finance market, have signed a deal to drive greater financial inclusion for Vietnamese people.
— VNA NET

Foreign investment in banking to surge
The improved business performance of Vietnamese banks and a Government regulation to require local banks to meet stricter capital regulations as part of Basel II standards is spelling the start of a wave of foreign investment into the country’s finance and banking sector in 2019, experts said.
— Bizhub

Samsung helps train Vietnamese support industry experts
Samsung in collaboration with the Ministry of Industry and Trade of Vietnam officially launched its first course in the Republic of Korea on March 4 for Vietnam’s support industry experts.
— VNA NET

Blue chip stock plummets after YouTube ‘incident’
YEG shares of Vietnam’s Yeah1 Group lost over $22 million in Monday’s trading session following a YouTube incident.
— VnExpress

Appeal trial on trillion-VND online gambling case opens in Phu Tho
The Hanoi High-Level People’s Court opened an appeal trial on an online gambling case involving former senior police officers and trillions of dong in the northern province of Phu Tho on March 5.
— VNA NET

Nearly 5,000 flights delayed, cancelled in two months
Five domestic airlines reported nearly 5,000 delayed or cancelled flights, accounting for 17 percent of the total operated flights, in the first two months of the year.
— 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.