Vietnam morning news for May 7

Vietnam morning news for May 7

Vietnam morning news

Vietnam, Despite Low Coronavirus Caseload, Will Take Months to Recover Economically
Vietnam has reported few new coronavirus cases every day since mid-April. Now schools are reopening, smaller restaurants are back in business and traffic jams are forming again in the financial center, Ho Chi Minh City, as commuters head to work.

Vietnam PM gives green light to export of face masks
VIETNAM Prime Minister Nguyen Xuan Phuc has given the green light to the export of medical face masks without any caps on export volume so that Vietnam will not miss out on the opportunity of becoming the world’s face mask factory amid the Covid-19 pandemic.
— The Star Online

Hanoi stays firm in Vietnam’s top 10 business-friendly localities: PCI 2019
Although Hanoi’s ranking stayed unchanged at ninth, its PCI score has improved from 65.4 to 68.8, showcasing strong efforts from the local authorities towards administrative reform.
— The Hanoitimes

Most SE Asia stocks end lower, but Vietnam surges
As Thai markets closed for a holiday, most Southeast Asian stocks fell in low-volume trade on Wednesday as poor economic data capped risk sentiment, but Vietnam jumped more than 2% to its best session in more than a month.
— Bangkok Post

“Logistics cost of Vietnamese fruits to Europe increased substantially”
After being closed for almost 3 weeks, some factories in Vietnam started operating again from 23 April. However there are still fewer vessels from Vietnam to Europe, which makes the logistics price extra high.
— Fresh Plaza

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Vietnam crushed the coronavirus outbreak, but now faces severe economic test
Strict quarantining and widespread testing have helped the country avoid disaster, but with tourism on hold the nation’s future is uncertain
— The Guardian

SCG adds US$1.4 billion to Vietnam petrochemical project
This will be Vietnam’s first integrated petrochemical complex once it is commissioned in 2023.
— The Hanoitimes

How Vietnam Contained COVID-19 and Why its Economy Will Rebound
Vietnam has managed to contain COVID-19, lifting social isolation measures and reopening the economy, allowing businesses to resume.
— Vietnam Briefing

Vietnam to face surge in tax evasion cases
Tax evasions are expected to rise in Vietnam as state policies have not been keeping up with the realities on the ground.
— New Straits Times

Vietnam 12th strongest economy amid Covid-19 fallout
Vietnam is the 12th strongest financially out of 66 emerging economies following the devastation caused by the Covid-19 pandemic, according to The Economist newspaper.
— VnExpress

Việt Nam’s economy could thrive again after social distancing eased, says WB
Việt Nam’s economy may prosper again after social distancing measures were eased nationwide on April 23, according to the World Bank (WB)’s updated report on the country’s macro-economy for May released this week.
— Viet Nam News

No special treatment for support industries: MoF
The Ministry of Finance and the Ministry of Industry and Trade have failed to find common ground with regards to tax policies for Việt Nam’s support industry enterprises.
— Viet Nam News

PV Gas to overcome pandemic in 2020: CEO
State capital management at PV Gas has recently been transferred from the Ministry of Industry and Trade to the Committee for Management of State Capital at Enterprises.
— Viet Nam News

MoF to reduce charges and fees for airlines this year
The Ministry of Finance (MoF) completed a draft circular that will help reduce many types of fees for aviation firms.
— Viet Nam News

Vietnam to quarantine 1,300 plus foreign oil experts on arrival
The Health Ministry says around 1,330 highly skilled oil industry experts will be quarantined in the coming days as they enter the country.
— VnExpress

Vietnam’s wartime strategy successfully deployed for COVID-19 battle
Vietnam recently celebrated the 45th anniversary of the country’s National Reunification and victory over a global superpower, but it has also been praised internationally in the past few weeks for initially winning the battle against an invisible enemy – the novel coronavirus.

Vietnam’s cloth import down 10.9 pct in 4 months
Vietnam spent over 3.6 billion U.S. dollars importing cloth in the first four months of this year, posting a year-on-year decrease of 10.9 percent, according to the country’s Ministry of Industry and Trade on Wednesday.
— Xinhua

Japan offers stimulus handout of $937 for all residents, including Vietnamese expats
The Japanese government has decided on a coronavirus stimulus handout of 100,000 yen ($937) for all residents, including Vietnamese expats.
— Vietnam Insider

Vietnam must turn coronavirus success into economic growth
Country has acquired financial and political capital in US-China trade war too
— Nikkei Asian Review

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It comes after a years-long effort by the two countries to develop a new pest risk assessment, which outlines how U.S. sorghum must be handled to meet regulations in Vietnam.
— Brown Fieldag News

Vietnam fuel distributors mull storage play to limit sales losses, recover inventory value
Vietnam’s state-run oil companies have reported big sales and inventory losses in the first quarter on tepid domestic demand and ultra low oil prices, prompting the top fuel distributors, as well as smaller private trading companies, to consider storing oil products for future sales to minimize their losses.
— SP Global

World Bank: Vietnam’s economy could thrive again
Việt Nam’s economy may prosper again after social distancing measures were eased nationwide on April 23, according to the World Bank (WB)’s updated report on the country’s macro-economy for May released this week.
— The Star Online

Closed border prevents Cambodia children from attending schools in Vietnam
More than 1,300 Vietnamese children living in Cambodia but studying in schools in Vietnam cannot attend classes now since borders are closed.
— VnExpress

Cash-strapped e-commerce firm Leflair files for bankruptcy in Vietnam
Vietnam’s e-commerce startup Leflair declares bankruptcy after facing capital crunch.
— e27

PM Phuc lists 5 breakthroughs for Vietnam to achieve 5%-plus GDP growth in 2020
These breakthroughs in FDI attraction, export, domestic consumption, public and private investment, are what the economy should focus on to boost growth.
— The Hanoitimes

Covid-19 success could boost post-pandemic FDI inflows
Vietnam’s declining foreign investment inflow will be reversed soon with the government’s drastic anti-pandemic measures proving effective, experts believe.
— VnExpress

Hanoi mayor requires strict compliance of Covid-19 prevention protocol at school
Students showing Covid-19 symptoms (fever, cough, sore throat) need to be put under quarantine for timely testing and kept apart from classmates.
— The Hanoitimes

May 5: Vietnam reports 11 more convalescents, 86% of total patients recover
On May 5, another 11 Covid-19 patients in Vietnam recovered, marking the largest number of convalescent in a single day since April 21.
— The Hanoitimes

45% of Chinese FITs plan to visit reopened Vietnam this year
Vietnam’s remarkable reopening of its domestic travel sector is expected to be replicated by focusing on short-haul Asian markets in a quest to restore their international tourism profile, with Chinese free independent travellers (FIT) predicted to lead the way.
— Travel Daily Media

Younger Chinese travellers to drive post-crisis travel to Vietnam
Chinese youths aged between 20 to 29 years old are likely to drive post-crisis travel to Vietnam once international travel resumes in the South-east Asian country, finds a survey by hospitality consulting group C9 Hotelworks and Delivering Asia Communications.
— TTG Asia

Vietnam brings 240 citizens from France in special flight
Vietnam brought back around 240 of its citizens from France on Wednesday by a special Vietnam Airlines flight.
— VnExpress

Vietnam stadium listed among best in Southeast Asia
My Dinh National Stadium in Hanoi has been named among the top five in Southeast Asia by the Asian Football Confederation.
— VnExpress

Five banks make top 10 most profitable listed firms
Vietnam’s top 10 most profitable listed companies, half of them banks, posted VND37 trillion ($1.6 billion) in pretax profits in the first quarter.
— VnExpress

Techcombank delivers record first quarter 2020
Việt Nam Technological and Commercial Joint Stock Bank (Techcombank) recorded after-tax profit reached VNĐ2.5 trillion (US$106.5 million) in the first quarter of this year, posting a 19.8 per cent year-on-year increase.
— Viet Nam News

Digitally-driven travellers lead Việt Nam’s travel re-opening
Việt Nam’s reopening of its domestic travel sector is expected to be replicated by focusing on short-haul Asian markets that will enhance its international tourism profile, according to a survey conducted by the hospitality consulting group, the C9 Hotelworks, and Delivering Asia Communications.
— Viet Nam News

BRI, Visa join remittance firm Nium’s Series C round to facilitate tuck-in acquisitions
Nium, a Singapore-based startup that provides online cross-border money transfer services to individuals and businesses, has raised an undisclosed amount to close its Series C financing round.
— e27

Ministry extends period selecting prestigious exporters 2019
The Ministry of Industry and Trade extends the period of selecting the prestigious exporters for 2019 until May 30, one month later than the schedule of April 30 due to the impacts from the COVID-19 pandemic.
— Viet Nam News

Vietnamese currency forecast to continue weakening in 2020
Weaker foreign direct investment inflow on the back of the Covid-19 pandemic and a likely preference by the central bank for a weaker Vietnamese to support export competitiveness would be key drivers of weakness over the near term, although any currency weakening will be measured to avoid potential punitive measures from the US, experts.
— Viet Nam News

Samsung Việt Nam continues to recruit engineers
Samsung Vietnam on Monday officially announced the massive recruitment of high-tech employees in 2020 with deadline for applications on June 07, 2020.
— Viet Nam News

Firms need policies for sustainable development after pandemic
A VBCSD survey found that 31 per cent of member companies said they would focus more on the domestic market and reduce dependence on foreign markets.
— Viet Nam News

Vietnam’s fresh food-to-table platform FoodHub raises seed funding
Vietnam’s fresh farm food-to-table platform FoodHub raises seed funding FoodHub, a startup that home-delivers fresh farm food in Vietnam, said today it has raised “up to hundreds of thousands of USD” in seed round of funding.
— e27

Quảng Ninh tops competitiveness index again
The Việt Nam Chamber of Commerce and Industry (VCCI) and the US Agency for International Development (USAID) announced the index in Ha Noi yesterday.
— Viet Nam News

Innovation for a green future
Intellectual property rights are the centre of all efforts to create a green future, Đinh Hữu Phi, director-general of the Intellectual Property Office of Việt Nam, tells Lao Động (Labour) newspaper
— Viet Nam Net

Online trade connection to be enhanced to promote post-pandemic exports
Online trade connections between Vietnamese firms and import partners were being increased together with trade promotion activities to accelerate post-pandemic export, Deputy Minister of Industry and Trade Thắng Hải said.
— Viet Nam News

Việt Nam offers tremendous investment opportunities: VinaCapital CEO
Consumer goods, healthcare, energy, construction materials, infrastructure, and technology are among the sectors with enormous potential for investment in Việt Nam once the COVID-19 pandemic subsides, an expert has said.
— Viet Nam News

HCM City weighs plans for economic recovery
HCM City authorities are seeking opinions from experts and enterprises on the best ways to revive the economy, a top city official said on May 5 at a seminar.
— Viet Nam News

Brokerages’ outstanding loans down 14 per cent
The spread of COVID-19 has severely impacted all global stock markets, with Việt Nam’s benchmark VN-Index on the Ho Chí Minh Stock Exchange losing a third of its value in January-March
— Viet Nam News

More pigs in stock during third, fourth quarter
The number of pigs in Bình Dương and Đang Nai provinces is expected to increase in the third and fourth quarters, following the African Swine Flu (ASF) epidemic at pig farms last year.
— Viet Nam News

G-bonds mobilised down 68% in April
The Hà Nội Stock Exchange (HNX) held 16 bidding sessions for Government bonds, mobilising VNĐ3.07 trillion (US$130.6 million) last month, down 68 per cent from the previous month.
— Viet Nam News

Most hotels and resorts to reopen this month with attractive promotions
Most hotels and resorts in Việt Nam would resume operations in May with attractive promotions as the country was entering its post-pandemic recovery, Mauro Gasparotti, director of Savills Hotels Asia Pacific said.
— Viet Nam News

PM orders prompt resumption of socio-economic activities as COVID-19 pushed back
Prime Minister Nguyen Xuan Phuc has ordered prompt resumption of socio-economic activities after drastic measures have helped push back COVID-19 outbreaks.
— VGP RSS Feed

Dialogue between PM, enterprises to take place on Saturday
The event, which will be carried out online and broadcast live on Vietnam Television, aims to address businesses’ concerns, boost production and restart the economy in response to the COVID-19 pandemic.
— Viet Nam News

UV indexes soar as cities enter heat wave
Ultraviolet (UV) indexes in Hà Nội, HCM City and Đà Nẵng on Wednesday are forecasted to reach strong and very strong levels, raising the risk of skin damage in direct sunlight.
— Viet Nam Net

Textile and garment exports down
Statistics showed Việt Nam’s textile and garment exports in April decreased by 20 per cent compared to March
— Viet Nam News

Shares advance but late selling dampens uptrend
Shares rose on Tuesday thanks to a global market rally, but gains narrowed towards the end of trading as selling pressure increased.
— Viet Nam News

Ha Noi lifts lockdown on COVID-19 hotspot
VGP – Ha Loi commune in Me Linh District, one of the main COVID-19 hotspots in Ha Noi, ended its 28-day lockdown since May 6.
— VGP Local Activities

Quang Ninh remains VN’s top business destination for third consecutive year
The northern province of Quang Ninh continues to be the most competitive locality in the country, topping Viet Nam’s Provincial Competitiveness Index (PCI) 2019, which was released on March 5.
— VGP Local Activities

Aquatic companies’ profits hurt by disease
Fishery enterprises’ first-quarter profits were hit hard due to negative impacts of the COVID-19 outbreak.
— Viet Nam News

How will global economy and Việt Nam move ahead amid COVID-19 challenges?
The world is changing as the ongoing coronavirus (COVID-19) pandemic continues to present unprecedented challenges to all economies, industries and living conditions.
— Viet Nam News



Feature photo Oriental Tours
This week’s Vietnam morning news feature photo focus on Vesak Day, May 7.


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).



About Vietnam morning news.

Vietnam morning news roundup is the most comprehensive hand-curated selection of Vietnam English language news headlines published. Each weekday we scour hundreds of local and international news sites and websites to find the most recent Vietnam English language news today.

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Sreypov Men recently completed a course of study in International Relations at the Institute of Foreign Languages.

She commenced as an intern at AEC News Today and was appointed as a junior writer/ trainee journalist on April 2, 2018

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