Vietnam Morning News For May 10

State Bank vows to flexibly direct monetary policy
Deputy Governor of the State Bank of Vietnam (SBV) Nguyen Thi Hong has affirmed that the SBV will direct monetary policy in a proactive, flexible, and cautious manner, and in harmony with fiscal and other macro-economic policies to curb inflation, maintain macro-economic stability, and fuel economic growth.
— Nhan Dan Online

Vietnam’s Free Trade Agreements – Opportunities for Your Business
Free trade agreements (FTAs) are when two or more countries agree on the terms of trade between them. They determine the value of tariffs and duties that countries impose on imports and exports. In 2007, with Vietnam’s ascension into the World Trade Organization (WTO) – it took a significant step integrating with world trade and subsequently entering into several free trade agreements.
— Vietnam Briefing

Opening Vietnam up to Industry 4.0
The country’s big potential in IT and large smartphone penetration are the key enablers for Vietnam to develop its digital economy.
— Vietnam Insider

Viet Nam finalises agreement to trade legal timber with EU
Starting from June 1, Viet Nam could export only verified legal timber products to the European Union (EU) markets as the Voluntary Partnership Agreement on Forest Law Enforcement, Governance and Trade (VPA/FLECT) would officially enter into force.
— Bizhub

Ho Chi Minh City mulls ‘special consumption tax’ for mobile phones
The Ho Chi Minh City People’s Committee proposed that mobile phones and cosmetics should be included among goods subject to a special consumption tax, a move that many say inadequately categorizes certain products.
— Vietnam Insider

Vietnam’s GDP growth on track to meet target of 6.78% in 2019
Despite signs of slowing down, Vietnam’s GDP growth remains on track to reach 6.78% in 2019, which is in line with the target of 6.6 – 6.8% set by the National Assembly (NA), according to Nguyen Chi Dung, minister of Planning and Investment.
— The Hanoitimes

How travel industry in Vietnam gets a boost
Boosted by the fastest growing middle class in Southeast Asia, Vietnam’s travel industry has seen phenomenal growth which has led to Vietnamese airlines launching direct flights to the United States (US) for the first time.
— Vietnam Insider

Australian royal naval ships make port call in Khanh Hoa
Royal Australian Navy amphibious assault ship HMAS Canberra and frigate HMAS Newcastle docked at Cam Ranh International Port, the central coastal province of Khanh Hoa on May 7.
— Vietnam+

Vietnam’s animal feed import rises in 4 months
Vietnam spent 1.3 billion U.S. dollars importing animal feeds and materials for animal feed production in the first four months of this year, up 2.4 percent against the same period last year, according to the country’s Ministry Agriculture and Rural Development on Thursday.
— Xinhua

Vietnam to Have Mandatory Sexual Abuse Prevention Classes for First Graders
Elementary schools across the country will provide mandatory classes to educate students on how to avoid and report sexual abuse.
— Saigoneer

How strategic investors transforming Vietnam’s tourism landscape
A number of outstanding new tourism products have been helping draw international visitors to Vietnam and boosting tourism in recent years.
— VnExpress

Vingroup conducting project using AI in healthcare
A project to support doctors in image diagnosis through AI is being implemented by local conglomerate Vingroup.
— Vietnam Insider

Vietnam’s illegal bear bile trade
Five moon bears were rescued in August last year from a bile farm near the city of My Tho, located 70 kilometres from Ho Chi Minh City in South Vietnam. The bears, likely captured from the wild, were rescued by the Animals Asia Foundation.
— The Asean Post

Vietnam posts US$500m trade deficit in April; coffee exports down 13%
Vietnam had a trade deficit of US$550 million in April, smaller than the government’s forecast for compared with a government forecast of a US$700 million deficit, customs data showed on Thursday.
— Business Times

VN consumers demand security, convenience in digital experience: report
As organisations and consumers increasingly interact over digital channels, both parties must find ways to establish mutual trust, British consumer credit reporting company Experian has said in a new report.
— Viet Nam News

Vietnam may be added to expanded U.S. list on currency manipulation –Bloomberg
The Trump administration will expand the number of countries it monitors for currency manipulation in an upcoming report expected this month, and Vietnam may be named a currency manipulator, Bloomberg reported on Thursday.
— Asahi

HCM City to develop resettlement housing without state funds
HCM City plans to develop social housing on its own instead of building new resettlement housing with state funds, according to the city’s People’s Committee.
— Viet Nam News

Plan to Rebuild 134-Year-Old Nam Dinh Cathedral Sparks Public Outcry
According to Tuoi Tre, a renovation project carried out by by the Diocese of Bui Chu with support from local Catholics in Nam Dinh will begin mid-May 2019. The plan will obliterate the current Bui Chu Cathedral in Xuan Truong District and construct a new replica on the site using more durable materials.
— Saigoneer

Firms advised to sign contracts in transactions with Chinese partners
Any transactions with Chinese businesses should be conducted via contracts in line with international trade practice, heard a conference in the Mekong Delta province of An Giang on May 8.
— VietnamPlus

Vietnam Detainee is Denied Contact With His Lawyer in Move Contrary to Law
Vietnamese authorities are blocking a defense attorney from meeting with his detained client, citing “national security” concerns in the case, the jailed man’s lawyer told RFA’s Vietnamese Service on Thursday.
— Radio Free Asia

HCM City seeks investments for infrastructure
With the aim of attracting more investment for much-needed infrastructure, Ho Chi Minh City is touting its efforts to become a digital- and knowledge-based economy with a highly skilled workforce.
— VietnamPlus

FDA adds JK Fish of Vietnam to import alert
FDA is recommending restaurants not serve recalled ground tuna from Jensen Tuna.
— IntraFish

Central bank injects $236 million to improve banks’ liquidity
The State Bank of Việt Nam (SBV) net injected more than VNĐ5.51 trillion (US$236.69 million) into the market last week to support the liquidity of the banking system.
— Viet Nam News

Forum discusses how to enhance management of digital economy taxation
Experts gathered at a forum in Hanoi on May 8, discussing measures to enhance tax management as e-commerce is enjoying strong growth amid the Fourth Industrial Revolution.
— VietnamPlus

Transformation needed for Vietnamese banks’ sustainable growth: Expert
Local banks should focus on improving management capability and raising operational efficiency, which can be achieved through transformation, including digital transformation and workforce transformation.
— The Hanoitimes

Two British men smuggled 29 Vietnamese people into the UK
Two men who smuggled 29 Vietnamese people into the UK on a fishing boat before police discovered them crammed in the back of a lorry on the M5 motorway plead guilty to trafficking.
— Vietnam Insider

Eastern Europe could be a lucrative market for Vietnamese exporters: forum
Eastern European markets offer great potential to exporters given their relatively high GDP growth and less stringent quality requirements compared to Western European countries.
— Viet Nam News

Man gets life for $192,400 bank robbery in central Vietnam
Two bank robbers were sentenced to life and 20 years in prison in central Vietnam Wednesday.
— VnExpress

More than 350 foreign investors join VN’s securities market in April
Of them, 44 were institutional investors and 312 individual investors
— Viet Nam News

Kasikornbank to allocate US$100M to help Thai startups enter Vietnam
The investment arm, called KASIKORN Vision or KVision, will use US$100 million of its US$245 million for Vietnam expansion KVision, Kasikornbank’s investment holding company, announces that it will take a sum of US$100 million from its current startup investment budget of US$245 million.
— e27

International container port inaugurated in Thanh Hóa
An international deepwater container port was put into operation at Nghi Sơn International Port in the north central province of Thanh Hóa on Wednesday.
— Viet Nam News

Drunk drivers face tougher suspensions and fines
The Vietnam Road Administration has proposed harsher punishment for those driving while drunk.
— Vietnam Insider

Thanh Hóa to have $162.6 million dairy cow farm
The farm cluster will use modern technology to help TH Group meet he increasing demand for fresh milk in the domestic market
— Viet Nam News

Bắc Ninh hopes to attract more Korean investment
The northern province of Bắc Ninh is rolling out the red carpet for Korean investors, pledging to create the best conditions for firms of all sizes to invest in the province, Chairman of the provincial People’s Committee Nguyn Tử Quỳnh has said.
— Viet Nam News

Vietnam, Lao commissions boost communication cooperation
The Vietnamese Party Central Committee’s Communication and Education Commission and the Lao Party Central Committee’s Commission for Propaganda and Training will step up cooperation in the communication work in the time ahead.
— Nhan Dan Online

Hải Phòng international terminal welcomes first container ship
The Hải Phòng International Container Terminal (HICT) of the Tân Cảng Sài Gòn Corporation welcomed its first container ship on Tuesday.
— Viet Nam News

PM Oli leaves for Vietnam, Cambodia
PM Oli is visiting Vietnam at the invitation of Vietnamese Prime Minister Nguyen Xuan Phuc, and Cambodia at the invitation of his Cambodian counterpart Prime Minister Hun Sen.
— The Himalayan Times

Yeah1 sets ‘lowest’ ever growth rate for 2019
Media firm, Yeah1 Group, on Wednesday announced the business plan for 2019 at its annual shareholders’ meeting, in which a growth rate that are “lowest at the company’s history” was set.
— Viet Nam News

After Saudi Arabia, Kimia Farma eyes expansion to Vietnam
After acquiring shares in a Saudi Arabian company, state-owned pharmaceutical company PT Kimia Farma has expressed its intention to expand its business to Vietnam by acquiring a local company.
— The Jakarta Post

Ba Na’s Oktoberfest: an attractive, jubilant summer festival
Where would you hide away from the heat of the summer, drinking cold German beer and immersing yourself in the air of a thrilling festival? It’s not the land of Germany, many hours away from Viet Nam by plane. It’s the beer festival B’estival 2019 at Sun World Ba Na Hills in the …
— Viet Nam News

Vietnam health facility overwhelmed by vaccination registrations amidst side-effects scare
A Thua Thien-Hue health center was overrun on Wednesday by people trying to register for on-demand vaccine shots for their children.
— VnExpress

HCM City seeks $54 billion for investment projects
In an aim to attract more investment for much-needed infrastructure, HCM City is touting its efforts to become a digital- and knowledge-based economy with a highly skilled workforce.
— Viet Nam News

VN stocks expand losses for 5th day
Vietnamese shares fell for a fifth trading day as investors remained sceptical over the market’s short-term prospects amid the uncertainty of the US-China trade row.
— Viet Nam News

Feature photo BirdLife International Asia

This week’s Vietnam morning news photo features World Migratory Bird Day, May 11.

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).

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