Vietnam Morning News For May 31

Vietnam parliament rejects $171 mln allocation for expressway debt
The National Assembly has refused to prioritize a VND4 trillion ($171 mln) budget allocation to help pay Hanoi-Hai Phong Expressway dues.
— VnExpress

Vietnam teacher arrested for Facebook posts ‘undermining state’
A Vietnamese music teacher has been arrested for posting material on Facebook “aimed at undermining” the state, his family and official media said Thursday (May 30) in the communist country where a crackdown against online critics has gathered pace.
— Channel NewsAsia

Vietnam’s garment export up 10.3 pct in 5 months
Vietnam reaped nearly 12.1 billion U.S. dollars from exporting garments and textiles in the first five months of this year, posting a year-on-year rise of 10.3 percent, according to its Ministry of Industry and Trade on Thursday.
— Xinhua

New Minimum Basic Salary, Social Insurance Rates in Vietnam
Vietnam will introduce new regulations on the minimum basic salary for social insurance. The government’s Decree 38/2019/ND-CP on minimum basic salary will take effect from July 1, 2019.
— Vietnam Briefing

Vietnam central bank says not pursuing ‘unhealthy competitive advantage’ in trade
The State Bank of Vietnam, the central bank, said on Thursday it is not pursuing an “unhealthy competitive advantage” in international trade after the Trump administration raised concern over currency practices this week.
— Reuters

Vietnam’s new businesses hit 5-year high
The number of newly established enterprises reached nearly 54,000 in the first five months of 2019, which is the highest figure in the last five years, according to the Statistics Office.
— Nhan Dan Online

Vietnam banks begin switching from magnetic stripe to chip technology for their domestic debit cards
Seven commercial banks in Vietnam on Tuesday began switching from magnetic stripe to chip technology for their domestic debit cards, the first wave of transition pursuant to a government policy that looks to completely phase out the old-school swipe cards by the end of 2021.
— Vietnam Insider

MoIT goes online for administrative procedures
The Ministry of Industry and Trade has moved to put more public administrative services online to achieve a more simplified and transparent administration.
— Viet Nam News

Vietnamese activists call for end to travel restrictions
Religious leaders and activists in Vietnam have launched a national campaign to demand the government lift unlawful restrictions on their freedom of movement.
— UCA News

Vingroup, three Vietnamese banks in Forbes’ Global 2000
Vietnam’s largest private company Vingroup and three of its biggest banks are in Forbes’s list of 2,000 largest listed firms in the world.
— VnExpress

Vietnam Rubber Group plans FSC certification for rubber forests
The Vietnam Rubber Group (VRG) will work to have Forest Stewardship Council (FSC) certifications for all of its rubber forests as part of the sustainable development programme for 2019-2024 tenure.
— Sggp News

Vietnam moves up in country rankings for providing safe, healthy childhood
Vietnam has climbed one place to 95th in the Global Childhood Report’s ranking of 176 countries in protecting and providing for children.
— VnExpress

Vietnam Banks Allowed to Retain Dividends to Boost Capital
State-owned banks will be allowed to retain dividends or pay them in shares to help them meet Basel II capital adequacy requirements by January 2020.
— Regulation Asia

What benefits do Vietnamese laborers gain from ILO’s Convention 98?
As Vietnam is pushing forward with international economic integration, industrialization and modernization, joining Convention 98 is necessary and implies political, legal and socio-economic significance.
— The Hanoitimes

Hanoi seeks to export Japonica rice
Sixteen cooperatives in Hanoi’s eight districts have produced Japonica rice on a total area of 800 hectares during the 2019 summer-autumn crop in service of export, heard a conference in Hanoi on May 29.
— VietnamPlus

Vietnam will not escape impact of trade war, foreign minister warns
Vietnam will “not be able to avoid the impacts of trade protectionism” due to the open nature of its economy, Foreign Minister Pham Binh Minh told Nikkei’s Future of Asia conference in Tokyo on Thursday.
— Nikkei Asian Review (paywall)

19 State-owned groups to be under financial supervision
The Commission for the Management of State Capital at Enterprises (CMSC) this year will oversee the finances of 19 State-owned groups and corporations.
— Viet Nam News

Ministry of Finance proposes to slash business costs
Household businesses may be exempted from paying fees for enterprise registration and first-time provision of information needed to become an enterprise.
— Viet Nam News

Shares fall as selling pressure increases
Vietnamese shares continued to decline on Thursday on low liquidity as large-caps were hit strongly by selling pressure.
— Viet Nam News

Popularity of smart townships in Vietnam offers chances for investors
Rising demand for smart townships would enable investors to change the Vietnamese real estate landscape.
— The Hanoitimes

Vietnamese Business Club in Myanmar launched
The Vietnamese Business Club in Myanmar (VBCM) launched in Yangon on May 28, according to Vietnamese media.
— Mizzima

Vinalines buys back 75% stake in Quy Nhon port in an unprecedented deal
Vinalines previously faced criticism from the public following the sale of majority stake in Quy Nhon port at price significantly lower than its market value during the 2013 – 2015 period.
— The Hanoitimes

Some 85 per cent of VN enterprises remain outside of Industry 4.0
As many as 85 per cent of industrial enterprises in Việt Nam still lag behind Industry 4.0 revolution, and only 13 per cent are at the beginner level, one official has warned.
— Viet Nam News

Vietnam-Cambodia border management reviewed
The management of the Vietnam-Cambodia border in 2019 was reviewed at a conference in the Mekong Delta province of Kien Giang on May 29.
— VietnamPlus

The impact of credit policies on Việt Nam’s banking outlook
The Vietnamese central bank has a number of policies, including tightening credit growth, designed to improve the health of the country’s banking system. Jonathan Cornish, Head of Asia-Pacific Financial Institutions at Fitch Ratings, talks with Việt Nam News reporter Nguy Thu Hà about …
— Viet Nam News

Vietnam seeks to slow China inflows
When Vietnam’s ruling Communist Party tabled last year a new law to create three special economic zones (SEZs) that would allow foreign investors to lease land for as long as 99 years, many Vietnamese believed the measure aimed to sell out the country to China.
— Asia Times

Vietnam continues to attract record numbers of foreign visitors
More than 7 million foreigners visited Vietnam in January-May, attesting to the country’s rising popularity as a tourism destination.
— VnExpress

Ministries urged to help Bắc Giang export more lychee fruit
Deputy Prime Minister Vương Đình Huệ yesterday highlighted the importance of quality management and traceability for lychee, a speciality fruit of the northern province of Bắc Giang, to meet export requirements for China and other potential markets.
— Viet Nam News

Dong Nai: Communes’ administrative boundaries changed for airport
The administrative boundaries of six communes in Long Thành District, the southern province of Dong Nai, will be officially changed starting in June to make space for the planned construction of Long Thanh International Airport.
— VietnamPlus

Ship rammed by Chinese on display in Vietnam
A fishing boat that was damaged during an attack by Chinese authorities has been put on display as a reminder to citizens in Vietnam.
— Asia Times

Đắk Lắk eyes $66 million hi-tech farming complex
The complex includes an 80-ha farm for 2,400 breeding pigs selected and imported from the Netherlands; a 30-ha chicken breeding area; and a 15-ha plant for pork slaughtering and organic fertiliser production.
— Viet Nam News

Vietnam’s ethnic minorities thrive on connectivity: study
Ethnic minorities can escape poverty with physical and economic connectivity, market linkages and opportunities to join labor markets.
— VnExpress

Ceramic firm shares jump on HoSE debut
Việt Nam’s largest ceramics and tile producer Viglacera Corporation (Viglacera) debuted on the Ho Chí Minh Stock Exchange (HoSE) on Wednesday.
— Viet Nam News

Win-win for Vietnam in Reducing Emissions
Through cost-saving practices for coffee, rice, corn and livestock production, Vietnam can take steps to meet Paris Agreement commitments, says a study that highlights climate action potential for agriculture, forestry and land use in SE Asia — by the International Centre for Tropical Agriculture.
— Technology Networks

VN shares mixed as world markets remain volatile
Shares were mixed on Wednesday on the two national stock exchanges due to a lack of supportive information and the risk of volatility on world markets.
— Viet Nam News

Indonesian insurtech platform PasarPolis enters Vietnam, Thailand
In 2018, PasarPolis raised an undisclosed Series A funding round from Indonesian unicorns Go-Jek, Traveloka, and Tokopedia Updates: PasarPolis’s plan and targets for its expansion Indonesian insurtech startup PasarPolis announced its launch in the Vietnam and Thailand market.
— e27

Six ICT executives join National e-Government Committee working group
The heads of six leading information and communications technology (ICT) companies will join a working group for the chairman of the National Committee on E-Government.
— Viet Nam News

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This week’s morning news photo features International Day of UN Peacekeepers, May 29.

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