Vietnam Morning News For October 1, 2019

Lower tariffs may demotivate investment in new solar power plants
Investors are concerned that a proposed reduction in solar power prices could slash their profits and demotivate investment in new plants.
— VnExpress

Shoes and Clothes Made in Vietnam? Try Phones and PCs
LG Electronics said this year it would cut smartphone production at home in South Korea and move it to Vietnam, according to Korean news reports.
— VOA Cambodia

Vietnam receives more foreign visitors in 9 months
Vietnam hosted nearly 12.9 million international arrivals in the first nine months of this year, surging 10.8 percent against the same period last year, according to the Vietnam National Administration of Tourism on Monday.
— Xinhua

Hà Nội is reaching purple-warning level for air pollution
AirVisual, an international air quality monitoring facility that generates data from public, ground-based and real-time monitoring stations, recorded on Monday that Hà Nội continued to be the most polluted city in the world with the Air Quality Index (AQI) exceeding the red-warning level.
— Vietnam Insider

Infrastructure constraint discourages foreign investors in Vietnam
Despite having interests in Vietnam thanks to the country’s low-cost labor and fast-growing market, many foreign firms have been hesitant to do business in the country due to major concerns about the country’s limited infrastructure.
— The Hanoitimes

Digital economy to account for 20 pct of GDP: Politburo
Vietnam’s digital economy will account for 20 percent of its GDP by 2025, according to a resolution issued by the Politburo.
— VnExpress

Trade surplus expected for 2019
A major trade surplus since early this year, particularly a soar in electronics exports, is expected to enable the Vietnamese economy to continue enjoying the fruits of trade in 2019.
— NDO

Car imports skyrocket in first 9 months
Việt Nam imported 109,000 cars in the first nine months of 2019, a year-on-year increase of 167.8 per cent, reported the General Department of Việt Nam Customs.
— Viet Nam News

GDP in first three quarters climbs to 9-year high
Local gross domestic product (GDP) climbed nearly 7 per cent in the first three quarters of 2019, reaching its highest level for the last nine years.
— Viet Nam News

SOEs need solutions to improve production and business efficiency
As State-owned enterprises (SOES) have many functions in the local economy, they struggle to fulfil their main task of doing business, so they need solutions to improve business efficiency, according to experts.
— Viet Nam News

Vietnam’s industrial growth hits four-year high
The value added for the entire industrial sector in the first nine months of 2019 grew 9.56% compared to the same period last year, which is the highest it has been within the last four years, according to the General Statistics Office (GSO).
— NDO

Vietnamese exporters to take advantage from e-commence platform
Âu Tuấn Long, CEO of King Bread Joint Stock Company, a chain of bakery products based in HCM City, said his company would sell bakery products via online sites in the near future.
— Viet Nam News

Vietnam Arrests Young Businessman For Critical Facebook Comments
Authorities in Vietnam’s Lam Dong province have arrested businessman Nguyen Duc Quoc Vuong for posting information about political and social issues on Facebook, his brother told RFA’s Vietnamese Service on Momday.
— Radio Free Asia

Vietnam boosting pangasius exports to China as sales to US tumble
Vietnam’s pangasius exporters are focusing more on Chinese market as their sales to the United States continue to spiral downward.
— Seafood Source

China and Vietnam need sustainable coffee farming
In a street renovated for Buon Ma Thuot’s seventh biennial coffee festival, tourists sat in cafes watching children sing and dance in the traditional dress of the Ede people.
— Chinadialogue

Credit growth expands 8.4 per cent
Credit growth has expanded by 8.4 per cent against the end of 2018 so far this year, the General Statistics Office reported.
— Viet Nam News

Vietnam Growth Forecasts Upgraded As Quarterly GDP Beats 7%
Economists are upgrading their growth projections for Vietnam after data this weekend showed the economy surged more than 7% in the third quarter.
— Bloomberg

Each Vietnamese citizen will be issued with a unique health ID card
The ID will be automatically generated through the general identification system of the ministry and used to identify individuals for healthcare services.
— Vietnam Insider

$7.6 million mechanical engineering factory opens in Vũng Áng
A factory manufacturing mechanical products, machinery and spare parts was inaugurated at Phú Vinh Industrial Park inside Vũng Áng Economic Zone in the central province of Hà Tĩnh on Sunday.
— Viet Nam News

Vietcombank was honored three awards by Asiamoney
With this, Vietcombank continues affirming its effective performance in domestic market, towards becoming among the top 100 banks in the region, the world’s top 300 banking-financial organisations up to international practices by 2020.
— Vietnam Insider

Beijing Preps 10-Story Oil Drilling Platform for South China Sea despite Wary Vietnam
China has developed a giant new offshore oil exploration platform for possible use in disputed tracts of sea, a move that would anger Vietnam and extend years of energy-related disputes between the two Asian neighbors.
– VOA News

Vietnam justified in defending its rights in Vanguard Bank in South China Sea
Vietnam has rightfully protested Chinese aggression in Vanguard Bank in the South China Sea region and Hanoi has alleged that Chinese ships have violated sovereignty, sovereign rights and jurisdiction of Vietnam under United Nations Convention on the Law of the Sea (UNCLOS).
— India Times

Why Vietnam is seen by many investors as the developing world’s next ‘big thing’
One of the things you least want to hear when travelling is how much more interesting or beautiful a country was 10 or 20 years ago.
— Telegraph

INSIGHT: Technology Transfer Transactions in Vietnam—Potential Tax Risks
Nguyen Thu Phuong and Nguyen Hung Du, of Grant Thornton Vietnam, discuss the tax implications of transfer of technology in Vietnam and consider what taxpayers need to do to mitigate any tax risks.
— Bloomberg Tax

Vietnamese leaders extend congratulations to China on National Day
In the congratulation messages, the Vietnamese senior leaders congratulated the great achievements of China in the past 70 years, especially accomplishment in the reform and opening up over the past 40 years.
— Sggp News

Japanese firm expands industrial park in Việt Nam
Japan’s Sumitomo Corporation will spend more than 14 billion yen (US$129.7 million) to expand its Thăng Long Industrial Park II in the northern province of Hưng Yên.
— Viet Nam News

Saudi-Vietnam trade exchange hits $1.1bln in eight months
The Vietnamese delegation visit aims at reinforcing trade and economic ties between Saudi Arabia and Vietnam.
— Zawya

Investors are finding value in obsolete buildings: JLL
The most suitable buildings for adaptive reuse are those which are well-positioned, even if the site is not suited to the current use.
— The Hanoitimes

Seafood export rushes to achieve target
The Ministry of Agriculture and Rural Development set seafood export target at US$10 billion for this year, but after the first eight months of this year, seafood exports merely reached $5.4 billion, down 2.6 percent over the same period last year.
— Sggp News

With high tide peaking, Saigon braces for heavy flooding
High tides in Saigon are expected to peak at 1.7 meters on Monday and Tuesday, heavily flooding several areas in the city.
— Vietnam Insider

Swiftlet farming needs long-term plan to maintain sustainable growth
Farming swiftlets for their edible bird nests has high economic potential, but the lack of a long-term development plan is holding back industry progress.
— Viet Nam News

Culture week introduces Vietnam’s land and people to Myanmar
Vietnam Culture Week in Myanmar took place from September 27 to 30 in Yangon city, Myanmar, aiming to promote the image of the country and people of Vietnam, and promote cultural and tourism cooperation and enhance people-to-people exchanges between the two countries.
— NDO

TRAVEL PHOTOGRAPHER ‘TRAPPED’ IN VIETNAM AFTER AIRLINE REFUSES TO LET HIM FLY WITH LAPTOP
A British travel photographer is “trapped” in Vietnam because the national airline will not allow him to fly with his Apple MacBook Pro.
— Independent

Positive outlook for Vietnam’s property market
In Ho Chi Minh City, apartment prices surged 21.6% in Q2 2019 from a year earlier, to an average of US$2,009 per sq. m, according to Jones Lang La Salle Vietnam.
— Globalpropertyguide

Vietnam-Laos relations of special solidarity enjoy substantive progress
The official visit to Vietnam by Lao Prime Minister Thongloun Sisoulith from October 1 to 3 is set to give a further boost to the two countries’ traditional friendship, special solidarity and comprehensive cooperation.
— VietnamPlus

The first Text-to-speech technology developed in Viet Nam
When she was a student, Nguyễn Thị Thu Trang was part of a volunteer group that made audio books for visually impaired people.
— Vietnam Insider

Việt Nam remains frontier market: FTSE Russell
No big improvements have been made since FTSE Russell’s last review in September 2018, according to Bảo Việt Securities Company (BVSC).
— Viet Nam News

VN stocks to beat 1,000 points in Q4
Việt Nam’s benchmark VN-Index could breach the 1,000 point mark in the last quarter of the year after the Q3 corporate earnings season and with investors shifting attention towards firms with hopes for full-year earnings growth.
— Viet Nam News

Ministry proposes higher fines, but sexual offences lack definition
The Ministry of Public Security has proposed significantly higher fines for sexual harassment and molestation, but is yet to define the offences clearly.
— Vietnam Insider

Developing tourism in association with preservation of heritage
Ninh Binh provincial authorities have removed the ‘Kong: Skull Island’ film studio from the centre of Trang An world heritage site, following UNESCO’s recommendations.
— NDO

Feature photo People’s Police Academy

This week’s Vietnam morning news feature photo focus on World Teachers’ Day, October 5.

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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