Vietnam Morning News For April 23, 2020

Vietnam reports no new COVID-19 cases for 6 days in a row
Vietnam reported no new cases of COVID-19 infection on Wednesday, the sixth consecutive day after it confirmed the latest case on April 17, with its total confirmed cases remaining at 268, Vietnam News Agency reported.
— Xinhua

Tax cuts proposed from SMEs to accelerate growth after COVID-19
The Ministry of Planning and Investment has asked for corporate income tax (CIT) to be cut for small and medium-sized enterprises (SMEs) by half this year in an effort to boost growth when the COVID-19 pandemic eases.
— Viet Nam News

Hanoi and HCMC downgraded from Covid-19 high-risk to medium-risk group
Social distancing restrictions will be eased in Hà Nội from April 23 as Prime Minister Nguyễn Xuân Phúc agreed to downgrade the city from the COVID-19 high-risk group to medium-risk.
— Vietnam Insider

Volume of cargo in four months up despite COVID-19
The volume of cargo passing Vietnamese ports in the first four months of this year rose by four per cent to about 215.3 million tonnes despite the novel coronavirus (COVID-19) pandemic, reported the Việt Nam Maritime Administration.
— Viet Nam News

Internet resumes full speed service in Vietnam after cable repair
Millions are enjoying normal internet service after repair work on the AAG undersea cable was completed Tuesday morning, one day earlier than expected.
— VnExpress

Vegetable shortage continue to push prices upward
Vegetable prices have been surging in HCM City as farmers reduce production due to the Covid-19 pandemic and costs increase because of saltwater intrusion in rivers in the Mekong Delta.
— Viet Nam News

NEC wins $190m deal to supply satellite to Vietnam
Japanese electronics company NEC has won a 20 billion yen deal ($190 million) to supply a radar satellite to Vietnam, highlighting an advantage traditional players have over startups in these times of economic crises.
— Nikkei Asian Review

Vietnam-linked hackers targeted Chinese government over coronavirus response – researchers
Hackers working in support of the Vietnamese government have attempted to break into Chinese state organisations at the centre of Beijing’s effort to contain the coronavirus outbreak, U.S. cybersecurity firm FireEye said on Wednesday.
— Channel NewsAsia

Made-in-Vietnam Covid-19 test kit approved for sale in Europe
Vietnamese Covid-19 test kits have received CE certification and a Certificate of Free Sale from the U.K., which allows them to be sold in Europe.
— VnExpress

93 per cent of HCM City enterprises use tax e-invoice
The number of firms in HCM City using e-invoices has skyrocketed this year due to their convenience and low cost.
— Viet Nam News

Vingroup and Vietnam Airlines offer five-star vacations to thank frontline workers
National flag carrier Vietnam Airlines and Vinpearl, a subsidiary of conglomerate Vingroup, have joined forces to launch a scheme aimed at showing their gratitude for workers on the frontline in the battle against the novel coronavirus (COVID-19).
— Vietnam Insider

Vietnam sees seven more coronavirus patients fully recovered and discharged
Seven more patients with COVID-19 in Vietnam have fully recovered and discharged from the hospitals on Wednesday, bringing the country’s total cases being given the all-clear to 223 and active cases do

EVN’s standalone profile steady despite tariff cut, collection delays
Vietnam Electricity’s (EVN) Standalone Credit Profile (SCP) of ‘bb’ has reasonable headroom to absorb the impact of the proposed reduction in electricity tariffs in the country, Fitch Ratings said in a report released on Wednesday.
— Viet Nam News

Vietnam Airlines upgrades “Flight Pass”
With only one purchase, customers can choose between four to 1000 flights operated by Vietnam Airlines, to one or multiple destinations, valid up to 12 months. Once purchased, passengers can decide when they want to travel at a later date.
— Viet Nam News

Digital Payments Startup GPay Awarded Vietnam License
The State Bank of Vietnam granted FinTech startup GPay a 10-year license to provide intermediary payment services in the country — electronic payment portals, payment services, digital money transfer services and eWallet services.
— Pymnts

Germany supports installation of solar panels on aquaculture farms in southern Vietnam
The German Agency for International Cooperation (GIZ) and the Fraunhofer Institute for Solar Energy Systems (ISE) have signed an agreement with other partners to carry out a project that will install solar photovoltaics panels on aquaculture farms in Vietnam.
— Seafood Source

MoIT issues regulations on auction of import tariff quotas on used autos
The Ministry of Industry and Trade on Monday issued regulations and an invitation to carry out an auction of import tariff quotas on used automobiles for this year.
— Viet Nam News

Central city to restore national relic sites
The Prime Minister has agreed to assign the central city’s people’s committee to the restoration of the Ngũ Hành Sơn (Marble Mountains) landscape site – a National Special Relic – in a decision released last week.
— Viet Nam Net

SSI revenues rise by 38.8 per cent in Q1
First quarter revenues were up 38.8 per cent year-on-year to VNĐ975.75 billion (US$41.43 million), SSI Securities Corporation reported.
— Viet Nam News

HCM City increases supplies of price-stabilised goods
Following the success of past price stabilisation programmes for essential products, HCM City has started its latest one.
— Viet Nam News

PM pushes for commodity price cuts
Việt Nam was in a position to hold inflation below 4 per cent this year, according to Prime Minister Nguyen Xuân Phúc.
— Viet Nam News

HAGL Agrico shares available for afternoon trading only
Shares of Hoàng Anh Gia Lai Agricultural JSC (HAGL Agrico) are only tradable in the afternoon starting on April 23 due to its two-year cumulative loss, according to the Ho Chí Minh Stock Exchange (HoSE).
— Viet Nam News

Thai energy firm invests $456.7m in four solar power plants in VN
The plants are Lộc Ninh 1, Lộc Ninh 2, Lộc Ninh 3 and Lộc Ninh 4 with a total installed capacity of 750 megawatts.
— Viet Nam News

Bà Rịa-Vũng Tàu lures over $450m into IZs in Q1
Of the sum, $360.7 million came from seven newly-licensed projects while the remainder of $97.8 million from eight capital-added ones.
— Viet Nam News

Credit declines in first half of April due to COVID-19 pandemic
Low demand for capital due to COVID-19 has caused bank credit in the first half of April to drop 0.5 per cent compared with the end of March, according to the State Bank of Việt Nam (SBV).
— Viet Nam News

Mekong Delta paddy prices drop slightly
Prices of paddy in the Mekong Delta are dropping slightly due to processing businesses having excess stock.
— Viet Nam News

Firms concerned about legality of online meeting amid pandemic
The COVID-19 pandemic means many businesses either can’t, or are reluctant to, meet face-to-face. So in a first for Việt Nam, businesses must now hold crucial meetings via online portals.
— Viet Nam News

US fintech startup SoFi acquires Hong Kong’s 8 Securities, establishing APAC presence
SoFi, an American personal finance company, announced today that it has acquired 8 Securities, a fintech platform based in Hong Kong. 8 Securities will be rebranded as SoFi Hong Kong as a result of the acquisition.
— e27

Shares tumble to three-week decline after oil collapses
Local stocks were hit hard as investors panicked after US crude West Texas Intermediate (WTI) slumped 306 per cent to finish Monday at negative $37.63 a barrel.
— Viet Nam News

Government orders probe into HCM City waiver of fee for land lease to foreign firm
Deputy Prime Minister Trương Hòa Bình has ordered an inspection into HCM City authorities’ leasing of 82.5ha of land to Malaysian property developer Gamuda Land Joint Stock Company without collecting land-use fees.
— Viet Nam News

HoSE adjusts large-cap basket, banks’ total weight increases
The Ho Chí Minh Stock Exchange (HoSE) has updated its large-cap VN30 basket and changes will become valid on May 4.
— Viet Nam News

Three captive bears in Nam Định rescued and taken to Việt Nam Bear Rescue Centre
Three captive bears that were kept on a farm in the northern province of Nam Định were taken to the Việt Nam Bear Rescue Centre in Tam Đảo National Park, Vĩnh Phúc province on Tuesday.
— Viet Nam Net

Africa a potential market but firms must be careful
The Việt Nam Trade Office in Algeria urged Vietnamese exporters to be careful when doing business with African partners to tap the opportunity of exporting to this potential market.
— Viet Nam News

Chance emerges for Vietnam’s more inclusive growth path: ILO
Despite difficulties brought by the COVID-19 pandemic, an opportunity is emerging for Vietnam to build the foundations of a more inclusive growth path, which leaves no one behind once recovery begins, according to the International Labour Organisation (ILO) in Vietnam.
— VietnamPlus

Vietnam increases April white rice exports quota to 500,000 tonnes
Vietnam has decided to raise its white rice exports quota for April to 500,000 tonnes from 400,000 tonnes, the government said on Wednesday.
— National Post

Vietnam to study effectiveness of tuberculosis vaccine in fighting Covid-19
Up to 800 Vietnamese frontline healthcare workers have agreed to take part in a clinical trial designed to test the effectiveness of a tuberculosis vaccine against Covid-19.
— The Star Online

Stopping illegal markets in Vietnam
Stopping rhino poaching doesn’t just mean stopping poachers, it also means stopping the illegal markets for rhino horn that drive this horrible trade.
— Save The Rhino

Vietnam Airlines upgrades Flight Pass for more flexibility
Vietnam Airlines has teamed up with Optiontown — the world’s only provider of innovative travel options — to upgrade its Flight Pass in order to better facilitate passengers.
— The Star Online

Vietnam releases data on Internet access quality
Vietnam Internet Network Information Center (VNNIC) has released figures on the country’s Internet access quality for the first time, measuring download speed at 61.39 Mbps.
— VnExpress

Vietnam leads plunge as region battered by oil rout
Southeast Asia markets closed lower led by Vietnam stocks on Tuesday, rattled by a historic crash in US oil prices that laid bare the disruption caused by the coronavirus pandemic.
— The Edge Markets

Vietnam marks sixth morning without new Covid-19 cases
Wednesday morning marked the sixth consecutive day in Vietnam without a new Covid-19 infection, keeping its tally unchanged at 268.
— VnExpress

Vietcombank pre-tax profit down 11 percent
Vietcombank’s Q1 pre-tax profit fell 11 percent year-on-year to VND5.22 trillion ($223 million) as it increased its credit risk reserves.
— VnExpress

VIETNAM INCREASES APRIL WHITE RICE EXPORTS QUOTA TO 500,000 TONNES
Vietnam has decided to raise its white rice exports quota for April to 500,000 tonnes from 400,000 tonnes, the government said on Wednesday.
— Agriculture

Vietnam puts town under quarantine for COVID-19 control
Vietnam has placed a town in the northern province of Ha Giang under quarantine after the province reported a COVID-19 infection earlier, Vietnam News Agency reported on Wednesday.
— Xinhua

Agricultural firms and cooperatives start selling online amid pandemic
Influenced by the pandemic, many agricultural production firms and cooperatives are developing their online trading channels to boost sales.
— Viet Nam News

Roof-top solar power offers saving solution during COVID-19 pandemic
Despite the impact of the COVID-19 pandemic and many countries limiting customs clearance, solar power enterprises with manufacturing plants in Việt Nam are still taking advantage of the domestic market to serve customers and sustain growth.
— Viet Nam News

Nearly 57,000 tonnes of rice cleared for customs approval
Custom has permitted to export nearly 57,000 tonnes of rice.
— Viet Nam News

Long An to build erosion-prevention projects along rivers
The Cửu Long (Mekong) Delta province of Long An will build erosion prevention projects along rivers to protect locals’ properties and safety, the provincial People’s Committee has said.
— Viet Nam Net

Local fertiliser industry to benefit from EVFTA
Free trade agreements (FTA), including the latest one signed between Việt Nam and the EU, will benefit the domestic fertiliser sector, with more diverse import and export markets, experts said.
— Viet Nam News

Feature photo Support deprived families in Vietnam
This week’s Vietnam morning news feature photo focus on English Language Day, April 23

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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