Vietnam Morning News For November 12, 2019

Vietnam’s struggles to become a developed, industrialised nation
VIETNAMESE Prime Minister, Nguyen Xuan Phuc said the biggest threat to the country’s development was the reluctance to take action and the fear of responsibility.
— New Straits times

NA adopts resolution on socio-economic development plan 2020
The National Assembly voted to pass a resolution on the socio-economic development plan for 2020 during the ongoing eighth session in Hanoi on November 11.
— VietnamPlus

Australian retiree convicted of terrorism and jailed for 12 years in Vietnam
A Sydney retiree has been convicted of terrorism and jailed for 12 years by a Vietnamese court, in a judgment human rights advocates have described as “essentially a death sentence”.
— The Guardian

Power shortage could happen in Vietnam from 2019: Deputy PM
The power shortage will come sooner than forecast due to the delay of key power generation projects.
— The Hanoitimes

This Elusive Creature Wasn’t Seen for Nearly 30 Years. Then It Appeared on Camera.
By interviewing people who live around a forest in Vietnam, scientists captured visual evidence that silver-backed chevrotains still exist.
— New York Times

Vietnam gov’t insists on estimating trade deficit in 2020 after 4 years of surplus
There could be another wave of investment capital to Vietnam in 2020 in anticipation of the enactment of the EU – Vietnam Free Trade Agreement, as well as impacts of the US – China trade war, leading to a surge in imports of equipment, machinery and input materials, said Minister of Industry and Trade Tran Tuan Anh.
— The Hanoitimes

Vietjet launches new international routes
Vietjet now connects Asia’s two economic hubs – Singapore and Hong Kong with Da Nang, the well-known beach destination in Vietnam.
— Business Traveller

Vietnam vouches for blockchain potential in building smart city
Ho Chi Minh (HCM) city envisions to build a smart city and plans to explore blockchain potential in solving the city’s most pressing problems to bring about urban development.
— Cryptopolitan

Industrial manufacturing exports nearly reach US$183 billion in first ten months
According to statistics of the Ministry of Industry and Trade, 10-month export turnover was estimated at US$217 billion, an increase of 7.4 percent over the same period last year, of which, industrial manufacturing contributed most to growth with $182.9 billion.
— Sggp News

Vietnam’s chemical import up slightly in 10 months
Vietnam spent nearly 4.3 billion U.S. dollars into importing chemicals and over 4.4 billion U.S. dollars importing chemical products in the first 10 months of this year, up 0.4 percent and 6.7 percent on-year, respectively, according to the country’s Ministry of Industry and Trade on Monday.
— Xinhua

Vietnamese products enter 200 markets around the world
Vietnamese products have entered over 200 markets around the world including markets with strict import regulations and standards such as the EU, Japan, South Korea and the US, according to a recent report released by the Ministry of Industry and Trade.
— Viet Nam News

Storm Nakri floods hundreds of houses in central region
Hundreds of houses in the central and Central Highlands regions of Vietnam have been inundated by Storm Nakri.
— Vietnam Insider

Vietnam bans recalled and damaged lithium batteries on flights
Vietnam will ban damaged and recalled lithium batteries, as well as electronic devices using those batteries, on Vietnamese airlines as well as foreign airlines operating into and from Vietnam, the country’s Civil Aviation Authority announced in a statement this month.
— Aircargo World

Hanoi: Very bad air quality remains unchanged in some areas
Hanoi’s air quality index (AQI) measured at 10 monitoring stations in the city was in the range of from 147 to 225.
— The Hanoitimes

AES Commits to Build 2.2-GW CCGT Plant in Vietnam
AES Corp. on Nov. 8 signed a memorandum of understanding with the Vietnamese government to build a $1.7 billion gas-fired power plant in Vietnam.
— Power Magazine

Việt Nam’s export of tea to Taiwan up
About 14,200 tonnes of Vietnamese tea, worth over US$22.5 million, was shipped to Taiwan between January and September, marking a year-on-year increase of 6.1 per cent in volume and 8.3 per cent in value.
— Viet Nam News

Saigon land prices increased 2.5-3 times every decade
Saigon land prices have increased 2.5-3 times every decade in the last 20 years, putting house ownership beyond most residents.
— Vietnam Insider

Blockchain technology vital in building smart city
HCM City plans to develop a regulatory framework and policies associated with blockchain technology to minimise potential risks in building a smart city, a top city official has said.
— Viet Nam News

Next step in rolling out Vietnam’s new competition regime
On 1 July 2019, Vietnam’s new Law on Competition (“Competition Law“) took effect. On 26 September 2019, the government issued the first implementing instrument, Decree No. 75/2019/ND-CP (“Decree 75“).
— Jdsupra

PPP regulations to be changed to serve development
More than per 76 per cent of current investment projects following public private partnerships (PPP) are in the field of transport infrastructure, but investors still feel insecure.
— Viet Nam News

Vietnam aims for 6.8% GDP growth in 2020
Vietnam’s legislature on Monday passed a resolution on plans for socio-economic development in 2020, including a target of 6.8 percent in GDP growth.
— Vietnam Insider

Rescue failed MoIT projects makes little progress
Three years after the implementation of a government directive aimed at salvaging 12 failed business projects under the Ministry of Industry and Trade (MoIT), little progress had been made and the majority were still losing money, according to a recent Government report supplied to the National Assembly.
— Viet Nam News

VinUni calls for admission for the first academic year 2020-2021
VinUni announced three majors of Business Administration, Health Sciences, Engineering and Computer Science for its first ever academic year of 2020-21.
— Viet Nam News

Vietnam’s hospitality to continue attracting investors
Vietnam’s hospitality industry will remain attractive for the next ten years, experts told the Vietnam Hospitality Forum held by CBRE Vietnam on November 7 in Hanoi.
— Vietnam Insider

Nearly 90% of Hanoi population covered with health insurance
In the time ahead, Hanoi city will simultaneously implement solutions to have more compulsory participation in social insurance, unemployment insurance, and voluntary social insurance.
— The Hanoitimes

Vietnam, US cooperate to strengthen infrastructure finance
The cooperation framework would support mobilizing capital from the private sector and developing financial markets for infrastructure development, in turn helping Vietnam realize its priorities in the field in near future, said a Vietnamese vice finance minister.
— The Hanoitimes

Vietnam, Italy promote economic cooperation
The Embassy of Vietnam in Italy recently coordinated with authorities from Castelbuono in Palermo, the capital of southern Sicily region, to organise a forum on enhancing economic cooperation.
— VietnamPlus

Foreign businesses look to expand investment in Vietnam
Many foreign businesses have come to explore the investment opportunities in Vietnam recently with the intention of investing or expanding operation in the country.
— VietnamPlus

Vietnam’s PAN Group acquires coffee company Golden Beans
Vietnamese agriculture and food-focused firm PAN Group has acquired an 80 per cent stake in coffee company Golden Beans Coffee JSC, according to a regulatory filing.
— DealStreetAsia

Kiên Giang Province needs investment in tourism infrastructure, experts say
Authorities in the Cửu Long (Mekong) Delta province of Kiên Giang should offer incentives to attract investment in tourism infrastructure and services in Hà Tiên- Kiên Lương, Rạch Giá- Kiên Hải- Hòn Đất, and U Minh Thượng to realise their tourism potential, experts have said
— Viet Nam News

Vietnamese products attract foreign distribution channels
According to the Ministry of Industry and Trade, Vietnamese products are attractive to foreign distribution channels as lots of purchase departments of foreign distribution channels have arrived in Vietnam to speed up purchasing contracts with local enterprises.
— Sggp News

As rural residents drink more milk, the dairy market grows
Nguyen Thị Duyên, 35, from the rural commune of Đức Thượng in Hà Nội, spends an extra VNĐ500,000(US$21.5) on milk after her 11 year-old son was said to be “shorter than others” in his class.
— Viet Nam News

VN-Index to move flat, large-cap stocks to weaken amid lack of information
The index’s struggle was totally normal and any declines in the early days of next week are also expected especially after the benchmark index and VN30 large-caps have made the strongest rallies so far in the year.
— Viet Nam News

ZF opens its first plant in Vietnam
ZF also says that this plant will help the brand in its strategy to become one of the fastest-growing automotive markets in South East Asia.
— India times

Momo listed among top 50 global fintech innovators
Vietnamese electronic wallet and payment application Momo has made it into the 2019 Fintech100 list of leading global fintech innovators.
— VnExpress

Mekong Delta needs to be innovative to overcome climate change: experts
The Cửu Long (Mekong) Delta Region needs to be more innovative in production to grow sustainably in the context of climate change and environmental and integration challenges, experts have said.
— Viet Nam News

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