Vietnam Morning News For March 4, 2020

Vietnam Plans Tax Breaks, Land Fee Cuts for Virus-Hit Firms
Vietnam plans to assist companies struggling amid the novel coronavirus outbreak with tax breaks, delayed tax payments and reductions in land lease fees, Prime Minister Nguyen Xuan Phuc told ministers attending his cabinet meeting today.
— Bloomberg

Vietnam develops modern supply system for farm products
Vietnam is working to develop a system of modern agricultural product supply centres to promote the consumption of farm produce, enhance food safety and hygiene, and improve the competitive edge of Vietnamese goods.
— VietnamPlus

Customs clearance of goods through many Vietnam-China border gates restored
The import and export of Vietnamese agricultural products to China has faced numerous difficulties with the sharp declines in both volume and value of goods amid the complicated developments of the Covid-19 epidemic.
— Fresh Plaza

US remains Vietnam’s largest export market in first two months
The US was the largest export market of Vietnam in the first two months of 2020 with export revenue of US$9.8 billion, an increase of 19.6% over the same period last year, according to the General Statistics Office (GSO).
— NDO

Consumer price index falls 0.17 per cent in Vietnam
The February consumer price index (CPI) in Vietnam slipped 0.17 per cent from the previous month due to falling demand for goods after the Lunar New Year holiday, falling petrol prices, and the coronavirus (Covid-19) outbreak, according to the General Statistics Office (GSO).
— The Phnom Penh Post

Vietnam Airlines to suspend flights between Vietnam, S. Korea
Vietnam Airlines will suspend all flights between Vietnam and South Korea starting from Thursday, following complicated developments of the novel coronavirus outbreak, Vietnam News Agency reported Tuesday.
— Xinhua

How one woman is taking on Vietnam’s ‘big coal’
As a child, Nguy Thi Khanh used to lie in the grass in her Vietnamese village and watch toxic emissions from nearby coal plants float past like clouds.
— Nation

February figures display coronavirus impacts on Vietnam tourism
Vietnam’s tourism industry is suffering the expected impacts of the novel coronavirus outbreak, with foreign arrivals plummeting in February.
— VnExpress

Vietnam contributes to ASEAN-US cooperation in trade, finance
Vietnam wants to have more cooperation projects with the US in order to deepen relations between the two countries and promoting ASEAN-US ties for peace, stability, cooperation and development in the region, a Vietnamese diplomat has said.
— VietnamPlus

Vietnam To Overhaul Its Visa, Immigration Laws This Summer
The Vietnamese government plans to radically overhaul its immigration and visa policies in order to attract more tourists and prevent the entry of criminals and illegal immigrants.
— IB Times

Dissident Vietnamese Priest Recovering From Heart Attack, Still Issuing Critiques of Government
Vietnamese Catholic priest Nguyen Van Ly, a long-time critic of Vietnam’s one-party communist state, is recovering from a recent heart attack but remains in poor health at his home in Hue, according to his nephew, who lives in Florida.
— Radio Free Asia

Japan, Vietnam to boost defense cooperation
The head of Japan’s Self-Defense Forces and Vietnam’s defense minister have agreed to step up bilateral security cooperation.
— NHK world

Japan to transfer military shipbuilding technology to Vietnam
Japan agreed to provide Vietnam with technologies for building military ships at a meeting between their defense ministry officials on Monday.
— VnExpress

Vietnamese Blogger in Exile Stops Writing, Citing Authorities’ Pressure on His Family Back Home
A well-known Vietnamese blogger based in Germany has announced he will stop writing due to government pressure on family members back home in Vietnam, press freedoms watchdog Reporters Without Borders (RSF) said in a press release on Monday.
— Radio Free Asia

EVFTA, EVIPA offer prospect of high quality FDI to Vietnam
The recent ratification of the EU-Vietnam Free Trade Agreement (EVFTA) and the EU-Vietnam Investment Protection Agreement (EVIPA) by the European Parliament is expected to create a change in the flow of foreign direct investment (FDI) from the EU into Vietnam.
— VietnamPlus

Vietnamese banks see improved solvency
Rated banks in Việtnam posted solid profit growth and asset quality improvements in 2019, benefitting from the country’s robust macro-economic environment, Moody’s Investors Service said.
— Viet Nam News

COVID-19: VN needs to respond properly in any circumstances
Analyst’s Pick: The sharp increase in COVID-19 cases outside China signals a new phase in the fight against the novel coronavirus spreading which have already been damaging the world economy.
— Viet Nam News

Banks offer aids to 44,000 COVID-19 affected customers
Credit institutions have so far supported more than 44,000 COVID-19 affected customers following directions from the State Bank of Việt Nam (SBV), an official reported on Monday.
— Viet Nam News

A bakery in Vietnam turned more than 66,000 pounds of dragon fruit, unsold because of the coronavirus outbreak, into wildly popular pink baked goods in just 3 weeks
Ho Chi Minh City-based ABC Bakery began selling pink bread made with dragon fruit that had gone unsold due to the coronavirus outbreak in mid-February.
— Business Insider

Retired Australian baker loses appeal in Vietnam on controversial ‘financing terrorism’ charges
A 70-year-old Australian man convicted in a controversial trial in Vietnam for anti-government terrorism offences has told a court he loves Vietnam and its people and was only ever a peaceful advocate for democratic reform.
— The Guardian

Businesses in Vietnam seek support amid Covid-19 losses
The coronavirus outbreak has affected the country’s economy, with production for exports and services suffering the most.
— The Star Online

Vietnam Fine Arts Exhibition to take place in November
The Vietnam Fine Arts Exhibition 2020 is scheduled to be held in November, the Department of Fine Arts, Photography and Exhibition has announced.
— VietnamPlus

Businesses seek Government support amid Covid-19 losses
The coronavirus outbreak has affected the country’s economy, with production for exports and services suffering the most.
— Viet Nam News

Việt Nam needs more trees: experts
The forestry sector has set a target of US$20 billion of annual export turnover for wood and wooden products by 2025, increasing from the current $9.45 billion.
— Viet Nam News

Vietnam sees India as alternative raw material supplier
Vietnam expects India to turn an alternative source of raw materials for its textile, garment and other industries following the coronavirus outbreak, according to deputy prime minister Vuong Dinh Hue, who recently addressed a reception in Hanoi hosted for Indian Ambassador to Vietnam Pranay Verma. The two sides discussed the possibility for cooperation.
— Fibre2fashion

Vietnam urged to look beyond Asian markets for FDI amid Covid-19
Vietnam should take advantage of being the second country in Southeast Asia to sign a free trade agreement with the EU to attract FDI from Europe.
— The Hanoitimes

2020 Vietnam Telecoms Market Assessment, Featuring CMC Telecom, FPT Telecom, Mobifone, SCTV, VNPT-Vinaphone, and Viettel
This country report and accompanying data annex provide a comprehensive overview of Vietnam’s telecoms market, including KPIs and data on subscribers, penetration, revenue, and ARPU.
— Yahoo News

MSB, Vietnam’s commercial bank, to launch its digital bank in Q4 2020
MSB, a commercial bank in Vietnam has selected Berlin-based Mambu’s cloud-native banking platform as its key technology solution to help the business undergo a radical digital transformation. The bank has revealed its plans to launch a digital bank by Q4 2020 in the country.
— Ibsintelligence

It’s true Covid-19 hurts Vietnam economy, but how can it benefit in long term?
From a longer-term perspective, Vietnam will benefit as companies further accelerate moves to diversify their manufacturing operations away from China.
— The Hanoitimes

Leflair shuttered its office while being alleged to owe US$2 million
Vietnam-based ecommerce company Leflair has shuttered its office while being alleged to owe US$2 million in liabilities to about 500 suppliers and many customers.
— Vietnam Insider

Vĩnh Long to spend $111.9m for public projects in 2020
Vĩnh Long Province will spend more than VNĐ2.6 trillion (US$111.9 million) for public projects this year, focusing on areas such as agriculture, social security, urban and rural development.
— Viet Nam News

VN posts trade deficit of $176 million in two months
Việt Nam reported an estimated trade deficit of US$176 million in the first two months of the year, according to the General Statistics Office of Vietnam (GSO).
— Viet Nam News

Portal to support SMEs in Hà Nội launched
The small and medium-sized enterprises (SME) Support Center under Hà Nội’s Department of Planning and Investment has officially put into operation a portal to support businesses at hotrodoanhnghiep.hanoi.gov.vn.
— Viet Nam News

State budget collection tops $9.3 billion in two months
Total State budget collection was estimated at VNĐ214.2 trillion (US$9.31 billion) in the first two months of this year, or 14.2 per cent of the yearly estimate, reported the General Statistics Office on February 29.
— Viet Nam News

Morning News Roundup: Vietnam’s STI Holdings invests in gig workers service platform JupViec
Finance Vietnam’s services platform JupViec snags funding from venture builder STI Holdings JupViec, a Vietnam-based service platform, has received an undisclosed amount of funding from venture builder STI Holdings, making it the largest institutional shareholder in the company, DealStreetAsia has reported.
— e27

Yên Bái approves projects worth nearly $130m
Yên Bái is home to more than 2,140 enterprises, creating 38,000 local jobs. Last year, the firms contributed VNĐ1.17 trillion ($50.3 million) to the local budget, accounting for 54 per cent of the province’s revenue.
— Viet Nam News

Vietnamese asparagus could enter Australian market this month
Việt Nam could export asparagus to Australia this month, according to the Việt Nam Trade Office in Australia.
— Viet Nam News

Cyberspying groups haunt intel in Southeast Asia
Major advanced persistent threat (APT) groups have increased their activity and are waging sophisticated cyberespionage in the Southeast Asia region, according to cyber-security company Kaspersky.
— Viet Nam News

Prudential Vietnam launches unique healthcare revival rider
Prudential Vietnam Assurance Private Ltd. has launched a healthcare rider, PRU-Hành Trang Vui Khỏe, a comprehensive solution providing customers with a unique revival benefit.
— Viet Nam News

How EVFTA, coronavirus affects Vietnam industrial property?
The coronavirus outbreak will certainly have an effect on the global economy in the coming months. Vietnam, with its proximity and close trade and supply relationships with China, is no exception.
— The Hanoitimes

Covid-19 brings losses to flower growers
Days before International Women’s Day (March 8) are often the best for flower sellers at Tây Tựu Flower Village in Hà Nội, but the continuing Covid-19 epidemic has cut sales of flowers in half this season.
— Viet Nam News

Work set to restart on Côn Đảo Passenger Port
The southern province of Bà Rịa-Vũng Tàu is expected to restart work on the Côn Đảo Passenger Port at a revised cost of VNĐ158 billion (US$6.8 million).
— Viet Nam News

Newly-established firms up but capital down in two months
The number of newly-established firms rose 9.1 per cent to 17,400 in the first two months of this year, according to the General Statistics Office (GSO).
— Viet Nam News

Quality weather forecasts predicted
PhD Mai Văn Khiêm, director of the National Centre for Meteorology, Hydrology and Weather Forecast talks to Hà Nội Mới (New Hà Nội) newspaper on the need to raise the quality of the weather forecast.
— Viet Nam Net

Equitisation vital for stock market growth
The successful equitisation and capital divestment of State-owned enterprises (SOEs) would create benefits that boosted the stock market and business performance, experts have said.
— Viet Nam News

VN stocks recover slightly despite foreign selling
The benchmark VN-Index on the Ho Chí Minh Stock Exchange edged up 0.25 per cent to close at 884.43 points.
— Viet Nam News

Southern region swelters as month-long heat wave begins
The southern region, including HCM City, is suffering from a heat wave which is predicted to peak in late March and early April, according to the Southern Hydro-Meteorological Station.
— Viet Nam Net

Feature photo Fauna & Floral International

This week’s Vietnam morning news feature photo focus on Vietnam focuses on World Wildlife Day, March 3, here the black-crested gibbon.

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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