Vietnam Morning News For May 22

Vietnam imposes duties on imported steel wire, rolled steel
The Trade Remedies Authority of Vietnam under the Ministry of Industry and Trade announced that it has recently issued a decision on application of measures to prevent imported steel wire and rolled steel products from avoiding trade remedies.
— Sggp News

Vietnam’s first-quarter GDP sees 6.79% growth: Government report
Deputy Prime Minister Truong Hoa Binh presented the Government’s report on the implementation of socio-economic development in the first quarter of 2019 and measures for the remaining months of the year at the opening meeting of the 7th session of the 14th National Assembly on May 20.
— NDO

Vietnam to put top ex officials on eight major corruption trials this year
Intensifying its corruption crackdown, Vietnam will bring a series of its former officials to courts from now until year end.
— VnExpress

Vietnam named among 4 most dynamic private equity markets in Southeast Asia
Vietnam, along with Singapore, Indonesia and Malaysia, has been named one of the four most dynamic private equity markets in Southeast Asia in 2018, with over US$1.6 billion poured into the country’s private equity sector, up 285% year-on-year, according to Moody’s analytics company Bureau Van Dijk.
— The Hanoitimes

Vietnam central monetary institution says ready to sell dollars to aid dong
HANOI, Could perchance well well also 21 (Reuters) – Vietnam’s central monetary institution said on Tuesday it used to be ready to pump U.S. dollars into the market to stabilise the dong currency’s alternate charge, because it had advance underneath pressure attributable to fallout from the U.S.-China commerce war.
— National Times

Vietnam salt farmers battered by imports, climate
The salt farmers of Hon Khoi rise before dawn as they have for generations, fanning out across shallow seawater pools in southern Vietnam to harvest the precious mineral, hoping for a better season than the last.
— India Times

Vietnam promotes agricultural products in China
The Vietnam Agricultural Trade Promotion Forum was held in Liaoning province, China, on May 20 with the participation of more than 100 Vietnamese and Chinese agricultural enterprises.
— NDO

Power tariffs should have been increased more: MoIT
Electricity retail prices should have been raised by 9.26 per cent instead of 8.36 per cent if Việt Nam Electricity (EVN) had correctly calculated the VNĐ3.26 trillion foreign exchange rate difference in 2018 into its power production costs.
— Viet Nam News

Vietnam public debt at lowest level since 2015
The Ministry of Finance estimates public debt at the end of 2018 at 58.4 percent of GDP, or VND3.2 quadrillion ($136.75 billion), the lowest since 2015.
— VnExpress

Cashew exports to China surge in April, but overall figures poor
Việt Nam’s cashew exports to China in April went up by a whopping 54 per cent to US$31.4 million, the Ministry of Industry and Trade said citing customs data.
— Viet Nam News

How to Plan a Supply Chain Shift to Vietnam: 3 Guiding Factors
Global supply chain networks have been disrupted since the US-China trade war began in January 2018, prompting several foreign investors to look for manufacturing alternatives. Vietnam Briefing highlights three key steps if planning a supply chain shift to Vietnam.
— Vietnam-briefing

Various environmental activities to be held during Vietnam Seas and Island Week 2019
A wide range of environmental protection activities are to be held during Vietnam Seas and Island Week 2019, scheduled for early next month, announced the Ministry of Natural Resources and Environment (MoNRE) on May 20.
— NDO

Processing and manufacturing firms expect to perform better in Q2
Up to 89.4 per cent of enterprises in the processing and manufacturing industry expect to perform better in the second quarter of 2019, according to the General Statistics Office (GSO).
— Viet Nam News

HCM City lacks licensed truck, container yards
The number of private, unlicensed container and truck yards in HCM City’s districts 2 and 9 continues to increase because of a shortage of legal truck yards in the city.
— Viet Nam News

Việt Nam coffee exports plummet on global headwinds
Việt Nam’s coffee exports have fallen in both volume and value terms this year, according to the Ministry of Agriculture and Rural Development.
— Eleven Myanmar

Bình Định solar power plant joins national grid
Cát Hiệp Solar Power Plant on Monday became the first in the central province of Bình Định to link up with the national grid.
— Viet Nam News

State capital divestment faces pressure
Capital divestment from State-owned enterprises had slowed and was still facing difficulties, said Đặng Quyết Tiến, director of Corporate Finance Department under the Ministry of Finance.
— Viet Nam News

Vietnam’s Ongoing Fight Against Agent Orange
Hundreds of thousands of Vietnamese suffer from gene mutations resulting from the Americans’ use of Agent Orange during the war. Birth defects are still a regular occurrence. Now, 44 years later, the U.S. has suddenly pledged more aid.
— Spiegel

Sales of auto down despite of strong discounts
Many businesses strongly reduced price of cars by between tens of millions to more than hundred million for their clients to stimulate sales, however, the market still witnessed a sluggish consumption, not as expected.
— Viet Nam News

Forest watchers makes mangrove forest their homes
More than a hundred forest watchers from the HCM City’s Youth Volunteers are spending their days and nights in the vast Cần Giờ Mangrove Forest.
— Viet Nam Net

Oil uptrend lifts VN stocks for seventh day
ietnamese shares soared on Monday as increasing oil prices helped boost the performance of petroleum companies.
— Viet Nam News

Market to face difficulties while VN-Index approaching 980 points
The Vietnamese market is expected to move modestly this week as VN-Index approaches its difficult resistance level of 980 points, analysts said.
— Viet Nam News

Int’l children festival to be held in Vietnam
Children from eight countries, including China and Russia will participate in an international children festival in Vietnam’s central Quang Nam province on May 26-June 3, the Central Vietnam Television (VTV) said on Tuesday.
— Xinhua

Legal framework needed to promote OTT media services
Việt Nam needed to raise an appropriate legal framework to promote the development of over-the-top (OTT) media services in the context that the Government was striving to build a digital economy.
— Viet Nam News

Marian devotion strengthens Catholics’ faith in Vietnam
Joseph Nguyen Dang Binh and his wife were cleaning their newly built house in Vietnam’s Yen Bai province while their neighbors helped beautify their Marian altar with roses, candles and electric lamps on May 4 as the local Catholic community prepared for a Marian march.
— UCA News

Hà Nội set to host banking expo
The 2019 Banking Vietnam to be held on May 30 in Hà Nội will display new technological advancements and applications in the financial-banking sector.
— Viet Nam News

Trường Thành Furniture to acquire ceramics firm to raise capital
Trường Thành Furniture Corporation (HoSE: TTF) would acquire Thiên Thanh Sanitaryware JSC on Tuesday to avoid the risk of cumulative losses outpacing charter capital, cafef.vn reported.
— Viet Nam News

Hà Giang beef receives geographical indication
The geographical indication for Hà Giang beef covers beef produced in six districts — Đ Văn, Mèo Vạc, Yên Minh, Quản Bạ, Hoàng Su Phì and Xín Mần.
— Viet Nam News

Local pork prices rise following Vietnam import ban
Pork prices have surged since Vietnam, the Kingdom’s biggest supplier for the meat, reported an outbreak of African Swine Fever (ASF).
— Khmer Times

Hanoi to spend $4 million on CNN ads to reach global audience
The capital city will spend $4 million on continuing its tourism promotion campaign on CNN over the next five years.
— VnExpress

Cuba, Vietnam vow to strengthen ties
Cuba and Vietnam agreed to strengthen bilateral ties by signing a joint plan of political consultations for the 2020-2022 period on Monday.
— China.org

Việt Nam-Russia economic, trade relations thrive
Economic and trade relations between Việt Nam and Russia have been growing consistently, according to the Ministry of Industry and Trade.
— Viet Nam News

Macau Legend eying Laos, Cambodia, Vietnam expansion
Asian casino operator Macau Legend Development Ltd is looking to expand its current portfolio further into Laos and potentially through Cambodia and Vietnam, according to Executive Director Sheldon Trainer.
— Asgam

Vietnam – working with the government to open the market
In many ways Vietnam is like a phoenix emerging from the ashes of the past. The paralyzing effect of the Vietnam War (1954-1975) and the repression that followed means the economy is growing from a low base.
— Investment Europe

Swiss flavours company Givaudan to acquire Vietnam’s Golden Frog
Givaudan, a Switzerland-based flavours and fragrances company, announced that it has reached an agreement to acquire Golden Frog, a Vietnamese flavour company.
— DealStreetAsia

Land clearance for expressway should be completed soon: ministry
Officials have been told by the Ministry of Transport to finish land clearance for the ongoing Bến Lức – Long Thành Expressway project, which has been delayed because of several problems.
— Viet Nam News

Gia Lai struggles to fight pine forest destruction
Gia Lai Forest Protection sub-department has asked police to investigate the destruction of pine forest emerged recently, Thanh Niên (Young People) newspaper reported.
— Viet Nam Net

Bottlenecks limiting Vietnam’s economy growth from OECD perspective
The OECD noted that the country should focus on improving labor productivity to ensure national economic prosperity.
— The Hanoitimes

Feature photo Daderot

This week’s Vietnam morning news photo features International Day for Biological Diversity, May 22.

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.