Vietnam morning news for October 31

Vietnam morning news for October 31

Vietnam morning newsVietnamese millionaire kingpin ‘Mr Truong’ wanted in Essex truck deaths investigation
Police in Vietnam investigating the deaths of 39 migrants in an Essex truck have identified the millionaire kingpin believed to be behind the fatal people-smuggling plot, it is reported.

Vietnam kicks off 1M-ton LNG terminal to ease energy thirst
Once operational in 2022, the terminal will serve the operations of Nhon Trach Power Plants 3 and 4 with capacity of 600 MW each, and supply LNG for a number of customers.
— The Hanoitimes

Hanoi’s first metro line has begun a 20-day commercial trial run
The test run begun on Monday to inspect all aspects of the Cat Linh-Ha Dong Metro Line, including functioning stations with staff on duty in operation rooms and at ticket booths.
— Vietnam Insider

Total import-export turnover in Vietnam exceeds $400B
The total import-export turnover of Vietnam reached $403.05 billion from the beginning of the year to October 15, a year-on-year increase of eight per cent, equivalent to an increase of $30.02 billion over the same period last year, General Department of Customs data shows.
— The Phnom Penh Post

Singapore’s Olam taps Vietnam for farm product exports to China
Singapore-based agri-trader Olam International has positioned Vietnam as an export center to China in a scheme to safeguard against the volley of tariffs being exchanged in the Sino-U.S. trade war.
— Nikkei Asian Review (paywall)

Chinese experts confident illegal migrants from Vietnam will decline after economic takeoff
The Vietnamese village Yen Thanh finds itself at the epicenter of global attention after media reported that up to 25 of the 39 victims in the Essex truck container case were reportedly from there.
— Global Times

In Vietnam’s ‘Billionaire Village’, migrant cash can buy a palace
Vietnam’s “Billionaire Village” doesn’t sound like a place people would want to leave, but at least three of the 39 victims found in the back of a truck in Britain last week set off from there in search of their fortunes.
— Reuters

Food, beverage, fashion and lifestyle promote retail property market in HCM City
Food and beverage and fashion and lifestyle will continue to drive demand in HCM City’s retail property market, according to real estate consultancies.
— Vietnam Insider

Free trade pacts boost the opening of Vietnam’s financial market
Vietnamese companies need to prepare because European companies will flock to the domestic market in about next five years.
— The Hanoitimes

Binh Duong named in the list of Smart21 Communities of 2020 in the world
For the second time in a row, the southern Vietnamese province of Binh Duong has been named one of the urban areas with the most typical smart city development plan in the world. What has helped Binh Duong obtain such an achievement?
— Vietnam Insider

Vietnam ranks high in global military strength: Global Firepower
According to Global Firepower’s 2019 Military Strength Ranking, Vietnam’s total military personnel hits 5.482 million, including 482,000 active personnel.
— The Hanoitimes

Vietnam, Russia enhance cooperation in ATM card payment
The National Payment Corporation of Vietnam(NAPAS) and the Russian National Payment Card System (NSPK) held jointly a ceremony to announce the MIR-NAPAS cooperation and the official completion of technical connectionfor domestic card payment.

Sorting waste at source: Start-up on mission to make Vietnam greener
Developing a business related to the environment is not usually the first option for most start-ups due to the lack of profit. However, Tran Thi Thoa decided to take a risk.
— The Phnom Penh Post

Korea Development Bank to install branch in Vietnam
South Korea’s state-run Korea Development Bank (KDB) is setting up a branch in Vietnam focused on corporate finance as it ramps up efforts to expand its footprint in Southeast Asia.
— Pulse News

Vietnam’s overseas investment hits nearly US$412 million
Total foreign investment by Vietnamese companies in the first ten months of 2019 was estimated at US$411.9 million, according to the General Statistics Office.

Under Vietnam-EAEU Free Trade Deal, Russian Trucks to be Produced in Vietnam
Maxim Akimov, the head of the Russian Intergovernmental Commission of the Russian Federation and Vietnam on Trade, Economic, Scientific and Technical Cooperation has announced that Russia’s GAZ Group will start to assemble vehicles in Vietnam.
— Vietnam Briefing

Trung Nguyen to open 3000 E-Coffee outlets next year
Vietnamese coffee giant Trung Nguyen says it plans to open 3000 E-Coffee shops next year, before making its debut offshore.
— Insider Retail

MBS plans to issue five covered warrant codes
A total 37 covered warrants have been traded on the market since the market launch on June 28.
— Viet Nam News

Grab tests new bus booking service in Vietnam
A new service, now available on Grab’s app, allows customers to look at schedules and book tickets from the ride-hailing giant’s partner bus operators.
— Palmer Business News

Vietnam Joins The Hague System for the International Registration of Industrial Designs
On 30 September 2019, on behalf of the Government of Vietnam, the Minister of Science and Technology deposited the instrument of accession to the Geneva Act (1999) of the Hague Agreement with the Director General of the World Intellectual Property Organization (WIPO).
— Lexology

Gelex Electric buys 30 million shares in ceramics firm
Gelex Electrical Equipment Co Ltd (Gelex Electric) has bought 30 million shares in ceramics firm Viglacera, completing 75 per cent of its purchasing target.
— Viet Nam News

Vietnam exposed as Argentina’s export tax plight stokes supply fears
Amid expectations that Argentina’s incoming president, Alberto Fernandez, will have little choice but to increase the country’s export duties, corn, wheat and soybean meal importers in Vietnam fear they are particularly exposed to any change in taxes.
— Agricensus

Vietnam’s consumer price index up 0.59% in October
The consumer price index (CPI) in October went up 0.59% against the previous month, the General Statistics Office (GSO) has reported.

HCM City set to host international retail tech, franchise expo
Following its success in previous years the Việt Nam International Retail Tech and Franchise Show will see its 11th edition organised in HCM City this week.
— Viet Nam News

Argentina ready to fill Vietnam’s wheat supply gap: export chamber
Argentina could export up to 2 million tonnes of wheat to Vietnam per year, replacing shipments from Russia which were suspended because of the presence of thistle seed, Argentina’s export company chamber said on Wednesday.
— Reuters

Co-working operators see hot market in Vietnam
UK-based Workthere, a website listing platform and brokerage services, has entered the Vietnamese market to help businesses find flexible, co-working and serviced office spaces in a country where co-working has expanded rapidly.
— The Phnom Penh Post

Vietnam plays constructive role in ASEAN
Since obtaining the membership 24 years ago, Vietnam has contributed to building up a strong and united ASEAN.
— The Hanoitimes

F&B to drive retail property market in HCM City
Food and beverage and fashion and lifestyle will continue to drive demand in HCM City’s retail property market, according to real estate consultancies.
— Viet Nam News

Forestry exports expected to beat US$11 billion in 2019
Robust signs since the outset of the year have made the timber and forestry sector confident of gaining US$11 billion in export revenue in 2019, beating the target of US$10.5 billion.

Vincom Retail reports higher Q3 profit, but core sale drops sharply
Q3 revenue fell because Vincom Retail did not record the sale of any large-scale projects in the past quarter.
— Viet Nam News

Programme highlights film production opportunities in Vietnam
The potential and opportunities for film production in Vietnam were introduced at a programme held by the Vietnam Association of Film Promotion and Development (VFDA) in Tokyo on October 29.
— VietnamPlus

Draft revisions to law on foreigners’ exit, entry discussed at National Assembly
A draft law amending and supplementing a number of articles of the Law on Entry, Exit, Transit and Residence of Foreigners in Vietnam was among several bills tabled for discussion at the NA on October 29.
— VietnamPlus

ParkCity Hanoi’s residential condominium for sale in November
The Vietnam International Development JSC (VIDC), a member of ParkCity Group, will open the sale of Park Kiara – the first full residential condominium in ParkCity Hanoi township – late next month.
— Viet Nam News

Freight to rise for Vietnam seafood exporters on new emission rules
Seafood exporters expect transport costs to surge by 30 percent when new international limits on sulfur content in fuel take effect next January.
— VnExpress

Digital payments to bring Đà Nẵng $72 million
Increased use of digital payments has the potential to add US$72 million annually to the central city of Đà Nẵng’s economy, according to the latest study from Visa, “Cashless Cities: Realising the Benefits of Digital Payments.
— Viet Nam News

Finding ways to boost coffee exports
As coffee exports dropped in both volume and turnover in the first nine months of this year, the Ministry of Industry and Trade said improving product quality and brand development are key for coffee export growth.
— Viet Nam News

Forex rate forecast to remain stable till year-end
The Vietnamese was expected to remain broadly stable against the US dollar over the remainder of 2019 and to be slightly weaker on average over 2020,
— Viet Nam News

Viet Capital Bank meets Basel II standards ahead of schedule
Viet Capital Commercial Joint Stock Bank has received approval from the State Bank of Vietnam to adopt Basel II standards, taking the number of banks meeting the global norms ahead of schedule to 12.
— Viet Nam News

Tropical depression turns into storm
A tropical low-pressure system has been upgraded to a typhoon. Matmo, the fifth storm this year, was bearing down on the northern part of Trường Sa (Spratly) Archipelago at 7pm yesterday, about 500km east of the provinces of Bình Định and Ninh Thuận.
— Viet Nam Net

Vietnam begs FG, wants rice importation into Nigeria
The government of Vietnam on Tuesday, October 29, appealed to the Nigerian government to allow its country to import rice into Nigeria.
— Legit

Technologies crucial to curbing emissions from coal combustion: workshop
While other regions are promoting the use of ‘green’ energy, Asia is still dependent on coal to meet energy demand.
— Viet Nam Net

Restaurant, coffee chains struggle in hypercompetitive market
In closing down recently the Mon Hue restaurant chain has followed in the footsteps of many Vietnamese food and beverage businesses.
— VnExpress

Experts say Việt Nam demand for machinery to keep growing
Việt Nam’s machinery and equipment market has achieved solid growth in recent years and the momentum is expected to continue, making the country increasingly attractive to foreign investors, experts have said.
— Viet Nam News

Index of Industrial Production rises 9.5% in January-October
Vietnam’s Index of Industrial Production (IIP) saw a year-on-year increase of 9.5% in the January-October period, according to latest updates from the General Statistics Office (GSO).

First Việt Nam Economic Forum held in Seoul
With more than US$66 billion worth of total registered capital, South Korean firms play an active role in key economic sectors in Viet Nam such as apparel, electronics, infrastructure, energy, automobiles, aerospace, finance-banking, and logistics.
— Viet Nam News

Seafood firms’ profits drag on weak exports
Lack of production materials and flagging export value have caused seafood companies to suffer losses in the third quarter of this year.
— Viet Nam News

Hyundai Card to acquire 50 pct stake in Vietnam consumer finance firm
Hyundai Card, the credit card subsidiary of Hyundai Motor Group, is set to buy a 50 percent stake in consumer finance firm FCCOM.
— VnExpress

Work on LNG storage facility begins in Bà Rịa-Vũng Tàu
Financed by PV Gas, a subsidiary of the national oil and gas group PetroVietnam, the facility will cost an estimated US$285 million in the first phase.
— Viet Nam News

Regulatory reform a must to improve business conditions
Going to court is not an option for most firms when it come to resolving disputes.
— Viet Nam News

First collaboration of Singapore fintech and innovation week to kick off in November
The Singapore FinTech Festival (SFF) and Singapore Week of Innovation and Technology (SWITCH) will work together this year to organise a showcase of innovative technologies to encourage business transformation.
— Viet Nam News

First Vân Đan-Đà Nẵng route starts on Friday
The first ever route between northern Vân Dan District and central Đà Nẵng City will officially open on November 1, with a frequency of three round trips per week.
— Viet Nam News

VN, Russia hold high-level government-business dialogue
Government officials and businesses of Viet Nam and Russia attended a high-level dialogue forum held in Hà Nội on October 29 by the Vietnam Chamber of Commerce and Industry (VCCI) and the office of the Russian Presidential Commissioner for Entrepreneurs’ Rights.
— Viet Nam News


Feature photo CITEK Technology

This week’s Vietnam morning news feature photo focus on World Cities Day, October 31.


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).



About Vietnam morning news.

Vietnam morning news roundup is the most comprehensive hand-curated selection of Vietnam English language news headlines published. Each weekday we scour hundreds of local and international news sites and websites to find the most recent Vietnam English language news today.

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Sreypov Men recently completed a course of study in International Relations at the Institute of Foreign Languages.

She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018

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