Vietnam Morning News For January 1, 2020

Vietnam eyes $300 bln exports in 2020
Vietnam targets its export revenues of $300 billion next year despite concerns over trade deficits amid a global economic slump.
— VnExpress

Economy lift to Vietnam from the US-China trade war may ease in 2020
The manufacturing boost from supply-chain shifts into Vietnam could yet narrow on capacity limits, as well as concern over possible backlash from the United States, according to a flash note by Citi analysts Ang Kai Wei and Johanna Chua.
— Vietnam Insider

Vietnam Airlines reaches record profit in 2019
National flag carrier Vietnam Airlines estimates its consolidated pre-tax profit for 2019 at an all-time high of VND3.37 trillion ($146.14 million).
— Vietnam Insider

Communist Vietnam Signals Retreat From Centralized Economy
Authorities in Vietnam’s business hub of Ho Chi Minh City said recently they will not be investing in the economy directly anymore, signaling the latest move in the communist nation’s ongoing transition away from a centrally planned economy.
— VOA

Six laws being put into effect from beginning of 2020
Operating vehicles under the influence of alcohol will be officially banned from Wednesday as part of the Law on Prevention and Control of Alcoholic Beverages’ Harmful Effects.
— Viet Nam News

Vietnam court sentences 14 in MobiFone corruption case
The Hanoi People’s Court on Saturday handed out sentences to 14 people who participated in the MobiFone corruption scandal.
— Jurist

PM attends ceremony marking US$500 billion in import-export revenue
Prime Minister Nguyen Xuan Phuc attended a ceremony to mark Vietnam’s import-export revenue reaching the US$500 billion level held in Hanoi on December 30.
— NDO

Việt Nam targets $300 billion export value for 2020 after four-year trade surplus record
Over the past eight years Việt Nam’s import-export value had soared 2.5 times, reaching $517 billion in 2019.
— Viet Nam News

Vietnam’s top 10 economic events in 2019 (P.1)
It is no doubt that 2019 was another successful year for Vietnam’s economy, putting the country in a favorable condition to achieve all socio-economic targets set for the 2016 – 2020 period.
— The Hanoitimes

Vietnam’s top 10 economic events in 2019 (P.2)
This part reviews outstanding internal and external economic events of Vietnam in the past year.
— The Hanoitimes

New policies urged to remove roadblocks in privatizing Vietnam’s SOEs
Experts have pointed out a number of hindrances to SOE privatization, including weak corporate governance, valuation methods and restricted foreign ownership.
— The Hanoitimes

Wood exports to hit $11.5 billion, exceeding target in 2019
Việt Nam’s wood exports this year are set to reach up to US$11.5 billion, exceeding the industry’s own target of $10.5 billion, a 20 per cent increase compared to last year, according to the Vietnam Timber and Forest Product Association (VTFPA).
— Viet Nam News

Vietnam’s 4 state-run banks to qualify for Basel II in 2020
By the end of 2020, all commercial banks are required to meet Basel II standards, a condition for local lenders to expand their respective credit growth limit and increase registered capital.
— The Hanoitimes

Forbes announces 100 largest firms in Việt Nam for first time
Forbes Việt Nam has announced a list of the 100 largest public firms in the country for the first time.
— Viet Nam News

Vietnamese firm keen to import light fans
Vietnamese firm Phat Mechanical Manufacturing Company (Cophaco) has expressed willingness to import light fans from Pakistan for their supply in the local market following increased demand for luxury light fans primarily in resorts and hotels in Vietnam.
— Tribune

Ensuring sustainable export-import growth in 2020
Vietnam’s export and import activities continue to register impressive growth in 2019, following the positive results seen in the previous two years.
— NDO

Vietnam aims at high-income status by 2045
Lower middle-income Vietnam will try to sustain high economic growth to become a high-income country by 2045, says PM Nguyen Xuan Phuc.
— VnExpress

Hanoi hosts Countdown 2020 in city centre
As many as 100 young artists will help ring in the new year with the musical extravaganza ‘Countdown 2020’ at Hoan Kiem Lake on December 31.
— VietnamNet

Forbes announces 100 largest firms in Vietnam for first time
Forbes Vietnam has announced a list of the 100 largest public firms in the country for the first time.
— VietnamPlus

$43-million shipyard left to rust
Nam Can shipyard in southern Ca Mau Province has spent the past 12 years idling away.
— VnExpress

Bentley driver gets fined US$43 for driving on the wrong side of the road
The driver of a Bentley car has been fined and had his driving license temporarily revoked for wrong-way driving in Hanoi last week.
— Vietnam Insider

SeABank completes settlement of VAMC special bonds
The Southeast Asia Joint Stock Commercial Bank (SeABank) has completed the early redemption of all special bonds at the Việt Nam Asset Management Company (VAMC), thereby helping the bank proactively monitor and handle bad debts.
— Viet Nam News

MoF proposes fines for invoice violations
The Ministry of Finance (MoF) has proposed fines of between VNĐ20 million (US$876) and VNĐ50 million for the act of printing fraudulent invoices.
— Viet Nam News

Vietnam exposed in dizzying variety
Local lensman Cao Ky Nhan has brilliantly captured the different angles of Vietnam’s stunning landscapes and peaceful local life.
— VnExpress

Vietnam, China continue negotiating on delimitation of Gulf of Tonkin
Signed in 2000, the maritime delimitation agreement in the Gulf of Tonkin establishes the first maritime boundary between China and Vietnam.
— The Hanoitimes

VN to evaluate business reform results
For the first time, Việt Nam plans to announce differences between business rules before and after removals or simplifications to evaluate the efficiency of reform efforts.
— Viet Nam News

HueCIT becomes Quang Trung Software City chain member
The Thừa Thiên-Huế Centre for Information Technology (HueCIT) was named a member of the Quang Trung Software City (QTSC) chain at a ceremony held in HCM City last Saturday as part of the 2019 HCM City Information Technology and Artificial Intelligence Business Day.
— Viet Nam News

Vestas leads the market in Vietnam with third intertidal project win
Vestas leads the market for wind energy in Vietnam with almost 200 MW of projects won in 2019 after securing a 50 MW order with Cong ty Co Phan Dau Tu Dien Gio Hoa Binh 1 (Hoa Binh 1 Company), a company owned by Phuong Anh Group.
— Yahoo News

Thaco exports Vietnamese buses to Philippines
This is the first commercial bus shipment of Thaco after more than 16 years in the Vietnamese automotive industry.
— Viet Nam News

Việt Nam’s 2019 trade surplus hits four-year record
The country’s trade surplus reached a record high of US$9.9 billion in 2019, the General Statistics Office’s monthly report has revealed.
— Viet Nam News

Vietnam FX reserves set new record of US$80 billion
Compared to the end of 2016, Vietnam’s foreign exchange reserve to date has doubled.
— The Hanoitimes

Gold sees strongest price increase in three months
The domestic gold price saw its strongest growth in three months last week after beating the milestone of VNĐ42 million (US$1,817.40) per tael.
— Viet Nam News

Digitisation boosts Bà Rịa-Vũng Tàu agriculture
Digitisation has brought the agricultural sector in the southern province of Bà Rịa-Vũng Tàu to a new stage of development by helping farmers improve cultivation methods and optimise the use of soil, seeds, weather and market information.
— Viet Nam News

Shares mixed on investor caution ahead of New Year holiday
Shares moved in opposite directions on the two national stock exchanges on Monday, with low liquidity demonstrating investor caution ahead of the New Year holiday.
— Viet Nam News

Tết gift hampers popular item at year-end
During the year-end period, retailers have been displaying many kinds of Tết (Lunar New Year) gift hampers to serve the shopping and gifting needs of consumers.
— Viet Nam News

Fitch assigns ANZ Vietnam first-time ‘BB’ rating; positive outlook
Fitch Ratings has assigned a first-time long-term foreign-currency issuer default rating (IDR) of ‘BB’ and long-term local-currency IDR of ‘BBB’ to ANZ Bank Vietnam Limited (ANZV).
— Viet Nam News

Vinpearl Air may take off next year
Vinpearl Air stated that it plans to begin operations in July next year if approved. It will be based at Nội Bài International Airport.
— Viet Nam News

Ninh Thuận faces irrigation water shortage
Many reservoirs in the south-central province of Ninh Thuận are facing a shortage of water, affecting supply for the 2019 – 20 winter – spring crop, animals and household use.
— Viet Nam Net

Feature photo Magalie L’Abbé

This week’s Vietnam morning news feature photo focus on environmental concerns throughout Asean — toxic traffic jams.

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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