Vietnam Morning News For January 8, 2020

State Bank of Vietnam sets cashless payments as top priority for 2020
The State Bank of Vietnam (SBV) has issued a resolution to boost cashless payments in the country.
— The Phnom Penh Post

Vietnam’s first wind farm loses turbine in fire – report
Vietnam’s first wind farm, the Binh Thanh 1 Wind Farm in the south central province of Binh Thuan, lost one of its turbines to fire on Sunday, local media report.
— Renewables now

Vietnam’s industrial production up 8.86 pct in 2019
Vietnam’s national index of industrial production rose 8.86 percent on-year in 2019, the country’s General Statistics Office announced on Tuesday.
— Xinhua

Policing Vietnam: How Australia could help
Men comprise 90% of the country’s police, and a common complaint is male officers pay scant attention to women’s issues.
— Lowy Interpreter

Prices of fresh food tread water, supermarkets increase promotions
The general record on the market at year’s end in Ho Chi Minh City on January 6 shows that the amount of goods at wholesale markets is plentiful and the prices are fairly stable.
— Sggp News

Vietnam Orders Urgent Measures to Combat Trade Fraud
Vietnam ordered relevant agencies including trade, finance and public security ministries to take urgent measures to fight origin fraud and illegal transshipment, according to government resolution posted on website.
— Bloomberg Tax

Seeking measures to improve Vietnam’s “Starting a Business” index
The Government Office held a meeting at its headquarters on January 6 to discuss measures to improve Vietnam’s “Starting a Business” index under the Ease of Doing Business 2020 ranking released by the World Bank.
— NDO

Việt Nam’s economy shines in 2019 but concerns exist for 2020
Việt Nam’s economy has shone in 2019. There are still concerns from the perspective of sustainable development, innovation promotion and the feelings of the market.
— Viet Nam News

Vietnam’s OCB mulls 11% stake sale to Japan’s Aozora Bank, plans to list on HoSE
Vietnam Orient Commercial Joint Stock Bank (OCB) is mulling to sell 11 per cent stake to Japanese commercial lender Aozora Bank and plans to list on Ho Chi Minh City Stock Exchange (HoSE) this year.
— DealStreetAsia

Vietnam gov’t mulls slashing procedures for starting business
Vietnam is strongly considering cutting the procedures needed to start a business this year in an effort to improve the country’s business climate.
— The Phnom Penh Post

Vietnam’s ASEAN and UN Leadership: Difficult Days Ahead
The first day of the New Year, known as Tet in Vietnam, falls on January 25 and signals the beginning of a new day. At the start of the year, Hanoi is wasting little time to shine a global spotlight on its position, prestige, and responsibility as the new chair of Association of Southeast Asian Nations (ASEAN) and as a non-permanent member of the UN Security Council.
— Geopolitical Monitor

A resilient year in Vietnam’s economy
Once again, the Vietnamese economy has shown itself to be resilient in the face of a falling manufacturing Purchasing Managers’ Index and dwindling business confidence globally. According to the World Bank, Vietnam in 2019 is likely to be among the top three fastest growing economies in East Asia.
— East Asia Forum

Development of Local Security Products Increased in Vietnam
The Ministry of Information and Communications (MIC) of Vietnam stated that the number of locally made cybersecurity products increased in 2019.
— Cisomag

Vietnam masters modern technology in security authentication
Vietnam’s VinCSS Cyber Security Services Co., Ltd under the Vingroup JSC has been recognised with the prestigious FIDO2 authentication standard by FIDO Alliance for its VinCSS FIDO2 Authenticator product, making it one among 34 companies in the world capable of producing and mastering this state-of-art technology in the field of security authentication.
— NDO

Japan, Vietnam share concerns on S.China Sea
The foreign ministers of Japan and Vietnam have shared their concerns about China’s increasing activity in the disputed South China Sea and agreed to cooperate closely on maritime security.
— NHK World

Work on Vietnam’s Belt Road interchange begins
The construction of an interchange connecting Belt Road No 3 and the Hanoi-Hải Phòng Expressway and other related infrastructure started on Monday (Jan 6) in Hanoi.
— The Star Online

182 rice traders certified as eligible for rice exports
The Ministry of Industry and Trade has granted 47 certificates of eligibility to rice export businesses over the past year, lifting the number of rice exporters to 182 traders.
— Viet Nam News

Long-term strategic plan needed for growth of medical tourism industry
Being one of emerging trends in tourism in the future, medical tourism receive much attention of health authorities in nations.
— Sggp News

PM calls for quality of statistical data to be enhanced
Prime Minister Nguyen Xuan Phuc has asked Vietnam’s statistical agencies to continue to improve the quality of statistical information in order to better serve socio-economic development management.
— NDO

Construction of interchange linking key roads begins
The construction of an interchange connecting Belt Road No 3 and the Ha Noi-Hai Phong Expressway and other related infrastructure started in Hanoi on January 6.
— VietnamPlus

EVN and Laos’ Phongsubthavy Group sign power purchase agreements for two hydropower projects
The Electricity of Vietnam (EVN) and Phongsubthavy Group of Laos on January 4, 2020 signed power purchase agreements (PPA) for the 69MW Nam San 3A and 45MW Nam San 3B hydropower plant projects in Hà Nội.
— Viet Nam News

Vietnam sends sympathies to Indonesia over floods
Deputy Prime Minister and Minister of Foreign Affairs Pham Binh Minh on January 6 extended sympathies to Indonesian Minister for Foreign Affairs Retno Marsudi over recent flooding triggered by heavy rains in West Java.
— NDO

Diversification vital for Vietnam
With China tightening import standards, Vietnam is working to increase its fruit and vegetable exports in alternative markets.
— Fruitnet

Phú Thọ to lure investment into new IPs
Once established, the parks will open up opportunities for the province to lure new domestic and foreign investors, contributing to socio-economic development, it said.
— Viet Nam News

TNG records sales up 26 per cent in 2019
TNG Investment and Trading JSC has announced total sales in 2019 of VNĐ4.56 trillion (US$198 million), up 26 per cent year on year.
— Viet Nam News

Vietnam becomes the 10th best country for retirees
Vietnam has made a big jump in the global retirement index, rising nine places to become the 10th best country for retirees.
— Vietnam Insider

VRG listing plan approved
The Ho Chí Minh Stock Exchange (HoSE) has approved the listing of four billion shares for the Vietnam Rubber Group JSC (VRG).
— Viet Nam News

Hundred cases of drunk driving were punished in the first six days of 2020
A South Korean man was among the first persons fined as a new law against driving under the influence took effect this year.
— Vietnam Insider

Procedures for starting a business to be cut this year
Việt Nam would strongly cutting the number of procedures needed to start a business this year as an effort to improve the country’s business climate.
— Viet Nam News

Why this remote gem of Vietnam should top your travel list in 2020
Deep in the valleys forged by the waters of Asia’s Red River, a series of colorful mountain villages are encircled by fields of towering rice terraces. The fields are agricultural feats of precision — rugged mountains blanketed with emerald stairways that, seemingly, ascend to the heavens above.
— Vietnam Insider

Prudential Vietnam in insurance distribution deal with SeABank
Prudential Vietnam and the Southeast Asia Joint Stock Commercial Bank (SeABank) on Monday announced they have entered into an exclusive 20-year bancassurance partnership.
— Viet Nam News

Cohesion and responsiveness: Key for ASEAN to capitalize on opportunities
Vietnamese Prime Minister Nguyen Xuan Phuc said cohesion and responsiveness shall be the key to realize the bloc’s goals.
— The Hanoitimes

Footwear, handbag sector eyes export target of $24b in 2020
The footwear and handbag industry aims to reach export revenue of US$24 billion in 2020, after hitting $22 billion last year, the industry association said.
— Viet Nam News

PwC, Deloitte receive ‘good’ accreditation in 2019
Two auditing firms were graded “Good” by the State Securities Commission (SSC) regarding the quality of their services in 2019, while eight others were deemed “Acceptable”.
— Viet Nam News

PM asks statistics office to improve macro-economic analysis, forecasting
Prime Minister Nguyen Xuân Phúc asked the General Statistics Office (GSO) to improve macro-economic analysis and forecasting while addressing a conference to launch tasks for the sector this year in Hà Nội on January 6.
— Viet Nam News

Vietnam Airlines adds flights for Tết holiday
The national flag carrier Vietnam Airlines plans to offer nearly 600 flights during the Tết (Lunar New Year) holiday from January 9 to February 2 this year, marking a year-on-year increase of 12 per cent.
— Viet Nam News

Oil stocks fail to rescue market
Petroleum stocks gained ground thanks to rising global oil prices but could not rescue market from falling, strongly hit by selling demand.
— Viet Nam News

Industry calls for national technical regulation for raw cashew
The Việt Nam Cashew Association wants the Ministry of Agriculture and Rural Development to draft national technical regulations for raw cashew nuts so that processors can ensure the quality of imported raw material.
— Viet Nam News

Vietnam PM seeks Japan’s support in administrative reform
Japanese experiences in reform are valuable to Vietnam, said Prime Minister Nguyen Xuan Phuc.
— The Hanoitimes

Cỏ May to supply pangasius fish to Saigon Food
Cỏ May Group has signed a memorandum of understanding with the Saigon Food Joint Stock Company to supply pangasius.
— Viet Nam News

Owners of Cocobay Đà Nẵng condotels propose solution to profit problem
Many owners of units at the Cocobay Đà Nẵng condotel project have proposed to convert profits owed by Thành Đô Company into land or houses at Cocobay, according to a statement from Thành Đô.
— Viet Nam News

A man fined for tearing the cover off a life jacket on a VietJet flight
The incident happened on flight VJ407 from Hanoi to Dalat. While flight attendants were arranging seats and luggage, the passenger took the life jacket from under seat 29A and then tore the cover open.
— Vietnam Insider

Feature photo u/yunie_c

This week’s Vietnam morning news feature photo focus on street food throughout Asean.

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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