Vietnam Morning News For June 25, 2020

Vietnam Approves Corporate Income Tax Reduction for 2020
Vietnam’s National Assembly on June 19 approved a 30 percent corporate income tax cut for the 2020 financial year.
— Vietnam Briefing

Vietnam records 3 new COVID-19 cases
Vietnam reported three new cases of COVID-19 infection on Wednesday, bringing its total confirmed cases to 352 with zero deaths so far, according to its Ministry of Health.
— Xinhua

Vietnam Legal Update: New Law on Investment 2019 & New Law on Enterprises 2019
The National Assembly of Vietnam on 17 June 2020 passed the Law on Investment 2019 (the “LOI 2019”) and the Law on Enterprises 2019 (the “LOE 2019”).
— DFDL

Cambodia reopens borders with Vietnam
Cambodia has re-opened its borders with Vietnam after banning cross-border movement more than three months ago due to the Covid-19 pandemic.
— New Straits times

There is no “post-COVID-19” era in China. There is only the COVID-19 era to adapt to.
China-based and other international media commentators have frequently been using the term “Post COVID” in articles concerning trade and business operations in China, Asia, and globally, as if the coronavirus problem is going to somehow slip away. It isn’t.
— China Briefing

World Bank debars technology company for fraud in Vietnam
The World Bank debarred a Vietnamese technology management company Wednesday for seven years for fraud and collusion involving two projects in Vietnam.
— Fcpa Blog

Vietnam Arrests Four For Sharing Info on Dong Tam Police Raid
Vietnamese authorities arrested four people Wednesday for alerting foreign diplomats about a deadly clash between police and land rights protesters in January at the Dong Tam commune outside Hanoi, police and relatives of the detainees said.
— Radio Free Asia

Nationalism, heroism and media in Vietnam’s war on COVID-19
While many countries around the world are struggling with the COVID-19 pandemic, 11 May 2020 marked the end of the ‘longest New Year (Tet) holiday ever’ for students in Vietnam.
— East Asia forum

Vietnam’s COVID-19 success through the eyes of an American living in Ho Chi Minh City
Christopher Otis is an American living in Ho Chi Minh City, Vietnam. He describes himself as a “Teacher, photographer, geographer, political enthusiast”.
— Vietnam Times

Vietnam, Turkey seek measures to forge ties amid pandemic
Deputy Minister of Foreign Affairs Dang Minh Khoi and his Turkish counterpart Sedat Unal discussed measures to boost relations between Vietnam and Turkey in the context of the COVID-19 pandemic, during their phone talk on June 23.
— Vietnam Times

Malaysian PM congratulates Vietnam on its success in pandemic fight
Malaysian Prime Minister congratulated Vietnam on its success in the COVID-19 pandemic fight, and highly valued the country’s initiatives and leading role in ASEAN’s efforts to mitigate socio-economic impacts caused by the pandemic.
— Vietnam Times

Authorities get to grips with new bad debt mountain
A spike in the amount of bad loans sitting in banks’ books has triggered Vietnamese authorities to seek new paths to recovery, with the upcoming bad debt exchange platform envisaged to allow investors to buy and sell distressed assets, which can boost market liquidity.
— VIR

Vietnam maintains strict health rules
Only Vietnamese nationals, foreigners on diplomatic or official business, and highly skilled workers are currently allowed to travel to Vietnam, the official website Vietnam Tourism reported 23 June.
— TTR Weekly

Techtronic Industries to invest an additional $650 mln in Vietnam
Power tool manufacturer Techtronic Industries will invest an additional $650 million in Vietnam to produce cordless appliances, the Vietnamese government said on Tuesday.
— Financial Post

Deputy PM: Vietnam wants to develop supply chain
Permanent Deputy Prime Minister Truong Hoa Binh hosted a reception in Hanoi on June 23 for Executive Vice President of Techtronic Industries (TTI) Nate Easter.
— NDO

Vietnam lowers reference exchange rate
The State Bank of Vietnam on Wednesday adjusted its daily reference exchange rate between Vietnamese dong and U.S. dollar down by 13 Vietnamese dong against Tuesday to 23,228 Vietnamese dong per U.S. dollar.
— Xinhua

Vietnam to expand legal football wagering, payment options
Vietnam plans to expand the product range of its proposed legal football betting market in a bid to convince local bettors that the state-approved operation won’t be a complete waste of time.
— Calvinayre

Vietnam stresses importance of promoting transitional period in South Sudan
A Vietnamese diplomat underlined the importance of promoting the transitional period and fully implementing the peace agreement in South Sudan while attending the UN Security Council’s online meeting on this country’s situation and activities of the UN Mission there (UNMISS) on June 23.
— VietnamPlus

Vinatex predicts 50% drop in profit before tax this year
Việt Nam National Textile and Garment Group (Vinatex), stock code VGT, predicts its consolidated profit before tax this year to reduce by a half to VNĐ382 billion (US$16.5 million) year on year due to negative impacts from the COVID-19 pandemic.
— Viet Nam News

Việt Nam should develop a gambling industry to boost tourism
With a large development potential of prize-winning entertainment industry such as horse racing and sports totalised and casino, Việt Nam can add some billion of greenback to the budget each year and boost the COVID-19 affected tourism
— Viet Nam News

RCEP deal expected to be signed in late 2020
Việt Nam has worked closely with ASEAN and the six partner countries to promote the early conclusion of full negotiations of the RCEP agreement, and prepare for signing in November.
— Viet Nam News

Vietnam’s rice export price stands at lowest level over past two months
Higher rice supplies in the domestic market has made the export price of Việt Nam’s broken rice drop to US$450 per tonne on June 19, the lowest level in the past two months.
— Viet Nam News

Vietnam ICTComm 2020 slated for September
The exhibition, hosted by ADPEX JSC from 17 to 19 September 2020 at the Sài Gòn Exhibition and Convention Centre, will focus on digital transformation.
— Viet Nam News

Trade defence investigations into wood products on the rise
There were only three cases on wooden products from 2007 to 2017, but there have been four since 2018.
— Viet Nam News

Auto consumers expected to enjoy 50 per cent cut in registration fee
The Ministry of Finance has officially asked the Government to cut 50 per cent of the registration fee for customers who buy locally-produced and assembled automobiles.
— Viet Nam News

Việt Nam still attractive to foreign investors
Nhất Hoàng, director-general of the Foreign Investment Agency under the Ministry of Planning and Investment, spoke to Vietnam News Agency on the factors that make Việt Nam an attractive place for foreign investors
— Viet Nam News

Việt Nam equity market draw back foreign bettors
Investment funds including Ashmore Group Plc and Coeli Asset Management SA have increased holdings in the US$174 billion market since March, while foreign investors have returned to net buying so far this month, the first time since January.
— Viet Nam News

Minister calls for forest protection and management efforts
Central Highlands localities need to raise the responsibility among forest owners and management to improve protection and development of the areas.
— Viet Nam Net

Alliance of airlines, travel and hotels to boost domestic tourism, say experts
Insiders have said that co-operation in joint sales would stimulate tourism as airlines companies can offer prices that aren’t too high, while hotels and travel companies also offer deals to encourage travel.
— Viet Nam News
Local stocks decline as real estate outweighs securities
The VN-Index stepped down from a three-day increase of a total 1.97 per cent between June 18 and June 22.
— Viet Nam News

Regional Foreign Ministers review preparations for 36th ASEAN Summit
VGP – Deputy Prime Minister, Foreign Minister Pham Binh Minh chaired a series of online meetings Wednesday to review preparations for the 36th ASEAN Summit.
— VGP Government in Action

School recycling programme expands after COVID-19 social distancing
More than 1,400 kindergartens and primary schools have participated in a programme on classifying, segregating and recycling used cartons in Hà Nội and HCM City, after Vietnamese students returned to school following the COVID-19 social distancing period.
— Viet Nam Net

An Phát Group successfully auctioned 4.3 million shares
An Phát Holdings Group (APH) successfully held an auction of 4.3 million shares at Ho Chí Minh City Stock Exchange (HOSE) with a total value of VNĐ215 billion (US$9.25 million).
— Viet Nam News

Hà Nội receives 36 proposals for investment cooperation worth $26b
The capital city of Hà Nội as of Monday received 36 proposals for memorandums (MoU) of understanding for investment cooperation, which were estimated to be worth more than US$26 billion in total.
— Viet Nam News

VPBank and State Treasury co-operate in State budget collection
Việt Nam Prosperity Joint-Stock Commercial Bank (VPBank) and Việt Nam State Treasury (VST) on Monday signed a bilateral co-operation agreement.
— Viet Nam News

Sơn La mangoes exported to US, Canada and Australia
This is the first batch to be exported overseas this year. The mango, grown in Mai Sơn District, is a green-skinned type that weighs from 0.6-1.1 kilo.
— Viet Nam News

PM Phuc holds phone talks with Malaysian counterpart
VGP – Prime Minister Nguyen Xuan Phuc and his Malaysian counterpart Muhyiddin Yassin discussed on Viet Nam-Malaysia cooperation as well as regional and international issues of common concerns over the phone Tuesday.
— VGP RSS Feed

Regional Comprehensive Economic Partnership to be signed this November
VGP – Ministers of 15 countries participating in the Regional Comprehensive Economic Partnership (RCEP) negotiations have affirmed their determination to sign the deal at the RCEP Summit this November.
— VGP Ministerial Activities

Brokerages eye earnings from proprietary trading
In March, Việt Nam’s stock market suffered a substantial drop with the benchmark VN-Index plunging 25 per cent. But since the end of March, the index has rebounded by 27 per cent.
— Viet Nam News

VN-Index advances on fertiliser, mid-cap stocks
The petrochemicals and plastics sector index was up 2.1 per cent, the highest among 25 sectors
— Viet Nam News

VinWonders Vũ Yên construction starts in Hải Phòng
Vingroup officially started the VinWonders Vũ Yên theme park project in the northern coastal city of Hải Phòng on Sunday.
— Viet Nam News

Suitable tiered pricing mechanism urged for electricity sector
The Ministry of Industry and Trade (MoIT) is proposing reducing power price tiers from the current six to five levels.
— Viet Nam News

Enterprises say national single window must be improved
Twenty-seven per cent of the surveyed businesses were not satisfied with the unstable operation of the portal and 20 per cent responded that the speed of processing tasks was still slow.
— Viet Nam News

Two more Vietnamese dairy firms licensed to export to China
The Chinese General Administration of Customs (GAC) on Monday granted transaction codes to two Vietnamese companies to export dairy products to China, reported the Ministry of Industry and Trade’s Department of Asia-Africa Markets.
— Viet Nam News

Feature photo Electronic portal of Hai Phong city
This week’s Vietnam morning news feature photo focus on United Nations Public Service Day , June 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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