Vietnam Morning News For October 4, 2019

MoIT imposes highest tax on Chinese aluminium products
The Ministry of Industry and Trade (MoIT) decided to officially impose the highest rate of anti-dumping duties on aluminium products originating from 16 Chinese producers.
— Viet Nam News

Luxury Vietnam Apartment Owners Left Hanging as Land Seized
A luxury residential project jointly developed by Novaland Investment JSC, one of Vietnam’s biggest property firms, is in limbo.
— Bloomberg

Vietnam’s automobile import surges 50.9 pct in 9 months
Vietnam spent nearly 5.5 billion U.S. dollars into importing completely-built automobiles and components for assembly in the first nine months of this year, posting a year-on-year rise of 50.9 percent.
— Xinhua

Thailand, Vietnam and Philippines named as likely 5G laggards
Thailand, Vietnam and the Philippines will lag behind other Asian countries in the deployment of fifth-generation mobile networks, although Singapore is poised to lead the race, a recent report said.
— Nikkei Asian Review (paywall)

MoIT allows export of raw mineral inventory
Despite the Government limitation on the export of raw minerals, Ministry of Industry and Trade (MoIT) still allows some to help local enterprises.
— Viet Nam News

Hanoi’s planned metro, already 2 years late, hit with new delays
Vietnam’s first metro system under construction in Hanoi faces yet another obstacle, leaving residents waiting more than two years after the trains were expected to go into service.
— Nikkei Asian Review (paywall)

South China Sea tensions surge: Vietnam urges India to back them against Beijing
SOUTH CHINA SEA tensions are heating up ahead of a visit by China’s president to New Delhi as a Vietnamese envoy said he hoped India would intervene as a force for peace in the escalating situation which he described as “serious”.
— Express

Viet Nam’s industrial production hits four-year high
The manufacturing and processing sector led the industry sector and the whole economy with an expansion of 11.4 per cent.
— Viet Nam News

Properly managing relationship with US crucial for Vietnam: Moody’s
Fading external demand and a weaker global outlook serve as the primary concerns for Vietnam’s export-reliant economy.
— The Hanoitimes

HAGL offloads entire stake in realty arm
HAGL once held 100 per cent ownership in the real estate unit. In the third quarter of 2018, HAGL Land issued 125 million shares for VNÐ13,414.63 ($0.58) per share in a private deal.
— Viet Nam News

Vietnam trade ministry rejects rumors on selling Sabeco shares to Chinese
To date, Saigon Beer Alcohol Beverage Corp (Sabeco) only has two major shareholders, including Vietnam Beverage with a 53.59% stake and the Ministry of Industry and Trade (MoIT) being state capital representative at the brewer with 36%.
— The Hanoitimes

Firms advised to use derivative instruments to minimise exchange rate risks
Experts suggested firms use more derivative instruments, such as futures and forward contracts, to minimise exchange rate risks when they can no longer borrow the US dollar from commercial banks, starting early this month.
— Viet Nam News

Central city to host start-up innovation event
Leading speakers from home and abroad will address the Fourth Ðà N?ng Start-up Innovation Festival on November 1.
— Viet Nam News

Agriculture trade fair underway in Bình Thu?n
The event, which kicked off here on Tuesday, is showcasing the Southeast region’s achievement in agro-forestry-fishery industries and its key farm produce beside to machinery and equipment used in the agriculture sector.
— Viet Nam News

Trà Vinh calls for investment in six tourism areas
The C?u Long (Mekong) Delta province of Trà Vinh is calling for investment in six tourism areas, including Long Tr? Islet, Bà Om Pond, Ba Ð?ng Beach, Hàng Duong, Tân Quy Islet and Duyên H?i hot mineral springs.
— Viet Nam News

Vietnam’s mid-cap stocks become more attractive to investors: Dragon Capital
There is real value to be found in the mid- to small-cap selections in the benchmark VN- Index, many of which carry amazing growth stories, said Dragon Capital’s executive.
— The Hanoitimes

Vietnam rejects money laundering report as ‘inaccurate’
A report saying Vietnam tops a list of countries by dollar value in illicit inflows is ‘inaccurate’, the Foreign Ministry spokeswoman said Thursday.
— VnExpress

Defense Policy Dialogue Puts Vietnam-UK Relations into Focus
The two countries held another iteration of a new defense mechanism between them.
— The Diplomat

Four carriers offer flight safety officers to Vietnam aviation authority
Four airlines have offered their eight flight safety officers to the national aviation authority as more carriers enter the fray.
— VnExpress

Vietnam among world’s fastest aging countries
Vietnam is facing challenges as it is one of the 10 fastest-aging countries, according to recent statistics.
— VietnamPlus

Generali the highest ranked global insurance group
Generali was ranked the highest among global insurance groups on a list of the “The World’s Best Regarded Companies” in 2019, developed by Forbes in collaboration with Statista, a leader in market and consumer analysis.
— Vietnam Insider

Vietjet CEO among world’s top 1,000 billionaires
The CEO of budget carrier Vietjet Air, Nguyen Thi Phuong Thao, is included in Forbes’s listing of the world’s top 1,000 billionaires.
— Vietnam Insider

Vero officially goes 360 in Vietnam as it restructures its offer
Vero today announced the launch of a wholly owned offering in Vietnam.
— Yahoo News/ Cision

Republic of Korea waives fees for short-term visas for ASEAN citizens, including Vietnam
Accordingly, the appraisal-fee waiver has been applied to people travelling on short-term visas from 10 ASEAN countries, including Vietnam, for three months, from October 1, 2019, to December 31, 2019.
— Vietnam Insider

Vietnam steps up fight against dollarization
The stability of the VND has contributed to decreasing demand for the dollar as people prefer the national currency due to the large spread between interest rates on VND and the dollar.
— The Hanoitimes

Vietnam’s first casino for locals begins profitably
Casino Corona made a pre-tax profit of VND108 billion ($4.67 million) in its first six months of operation.
— VnExpress

Phones, components top Vietnam’s export revenue in 9 months
Phones and components led Vietnamese export items between January and September, with value of nearly 38.6 billion U.S. dollars, posting a year-on-year increase of 5.1 percent and accounting for 19.9 percent of Vietnam’s total export revenue, according to the country’s General Statistics Office on Wednesday.
— Xinhua

Vietnam’s FV Hospital mulls IPO as investor looks for an exit
FV Hospital, a Vietnam-headquartered tertiary care provider, is reviewing a plethora of strategic options to provide an exit route to its existing investor Quadria Capital, its CEO Jean-Marcel Guillon told DealStreetAsia.
— Nikkei Asian Review (paywall)

VN a strategic entrance for Italy in Southeast Asia
Italy hopes to turn Vi?t Nam into a strategic entrance for trading and investment in Southeast Asia, especially in the field of manufacturing and processing agricultural products.
— Viet Nam News

CMC Telecom is the first partner in Vietnam to support Hybrid Network Connections to Google Cloud with Google Cloud Interconnect
CMC Telecom, the leading provider of cloud service in Vietnam, today announced support for Google Cloud’s Partner Interconnect, a service from Google Cloud that allows customers to connect to Google Cloud Platform globally.
— PR Newswire

Housing prices rise slightly in third quarter
Housing prices in Hà N?i and HCM City increased slightly in the third quarter, according to an annual report from the Ministry of Construction released at a press conference on Monday.
— Viet Nam News

Hà Nam seeks investment from Republic of Korea
Hà Nam Province held an investment promotion conference in Seoul to seek investment.
— Viet Nam News

Laos, Vietnam plan business dialogue to boost investment, border trade
Trade authorities in six northern Lao provinces and Dien Bien Phu province in Vietnam agreed to hold a business dialogue in 2020 to boost trade.
— Xinhua

Vietnamese enterprises seek business opportunities in Canada
A workshop was held on October 2 in the Canadian city of Montreal for Vietnamese enterprises to seek business opportunities with Quebec Province, especially in the field of supporting industries.
— NDO

Viet Nam tightens imports of outdated machines
The General Department of Customs will not process import procedures for outdated machinery and equipment to enter Vi?t Nam, said the department on September 18.
— Viet Nam News

PV Drilling provides drilling rig for Brunei firm
PetroVietnam Drilling & Well Service Corporation (PV Drilling) will provide Heavy Tender Assist Semi-Submersible Drilling Unit “PV DRILLING V” for Brunei Shell Petroleum Company Sdn Bhd (BSP).
— Viet Nam News

Shares lose steam as selling pressure increases
The VN-Index failed to stay at the 1,000 point mark again as selling pressure increased sharply as the benchmark approaching the landmark.
— Viet Nam News

Swinburne Vietnam officially launches
Swinburne Vietnam officially opened in Hanoi on 1 October 2019, delivering a small suite of sought after undergraduate programs in partnership with the technology-focused FPT University.
— Swinburne

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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