Weekly News 18.5.2020 – 22.5.2020

Inflation forecast to increase, investment funds bet on gold

Despite falling oil prices, consumer spending collapsing, some senior investors are still worried about rising inflation and that's why they're pouring money on gold to preserve asset value. Central banks around the world are rushing to launch bond buying programs. Governments are racing to deploy giant stimulus packages.

For more details, please kindly visit:

https://www.thesaigontimes.vn/303665/du-bao-lam-phat-tang-cac-quy-dau-tu-dat-cuoc-vao-vang.html

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Higher workforce quality needed to seize on EVFTA opportunities

Whilst the EU-Vietnam Free Trade Agreement (EVFTA) is anticipated to offer a wealth of opportunities through an expansion of export markets and greater job creation, the quality of human resources must improve in order to meet stringent requirements regarding the overall quality of goods and services, insiders state. According to a study conducted by the Ministry of Planning and Investment, the EVFTA is poised to create an additional 146,000 jobs each year, with the majority focusing on labour-intensive industries that enjoy high export rates to the EU, including garment and textiles, leather and footwear, and aviation transport.

For more details, please kindly visit:

https://english.vov.vn/economy/higher-workforce-quality-needed-to-seize-on-evfta-opportunities-413744.vov

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Colliers International publishes Q1 Real Estate Market Research Report

Colliers International in Vietnam has just released their Vietnam Quarterly Knowledge Report Q1 2020. The report highlights the national to regional economies of three major cities of Hanoi, Da Nang and Ho Chi Minh City. It also briefly introduces national economic indicators such as GDP, CPI, FDI, Retail Sales and Trade Balance, and focuses on the market insights of each real estate sector.

For more details, please kindly visit:

https://vietdaily.vn/kinh-doanh/bat-dong-san/colliers-international-phat-hanh-bao-cao-nghien-cuu-thi-truong-bat-dong-san-quy-1.html

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Tourists back in Vietnam’s Ha Long Bay

Vietnamese flocked to scenic spots and beaches Saturday (May 16), leaping at the chance to travel as the communist government eases restrictions on domestic movement to revive a tourism sector devastated by the coronavirus. Hundreds waited to get on tourist boats to visit the famed karsts of the UNESCO heritage site of Ha Long Bay with few following social distancing norms. Most removed face masks as they climbed on board and posed for selfies.

For more details, please kindly visit:

https://vietnaminsider.vn/tourists-back-in-vietnams-ha-long-bay/

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Long An 1 and 2 thermal power plants to switch to LNG model

Long An 1 and 2 thermal power plants located in Long An power centre are looking for the approval to switch from coal to liquefied natural gas (LNG) in order to decrease their environmental impact. At a recent working session with the Minister of Industry and Trade, Le Minh Duc – director of Long An Department of Industry and Trade – reported that the province proposed changing the technology of the two thermal power plants while simultaneously adjusting the scale of these projects.

For more details, please kindly visit:

https://www.vir.com.vn/long-an-1-and-2-thermal-power-plants-to-switch-to-lng-model-76308.html

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Vietnam has second fastest 4G download speed in Southeast Asia

Vietnam ranks 41st among 100 economies in terms of 4G download speed of mobile data and second behind Singapore in Southeast Asia. A report released this week by OpenSignal, a British company which measures mobile user experience globally, says Vietnam’s 4G average download speed clocked at 20.6 Mbps, faster than the rest of Southeast Asian countries. Singapore has the fastest download speed of mobile data in Southeast Asia and sixth globally at 47.5 Mbps.

For more details, please kindly visit:

https://english.vov.vn/society/vietnam-has-second-fastest-4g-download-speed-in-southeast-asia-413793.vov

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Thu Thiem 2 Bridge technical opening expected by end-2020

The technical opening of Thu Thiem 2 Bridge, which spans the Saigon River and connects HCMC’s District 1 with Thu Thiem Peninsula in District 2, are scheduled for the end of this year. The VND3.082 trillion project was funded by Dai Quang Minh Corporation under the build-transfer format. The cable-stayed bridge has six lanes and a total length of 1,465 meters, with the main section stretching 885.7 meters. It is designed to have a main support tower 113 meters high that arches toward Thu Thiem and will act as a gateway to the Thu Thiem new urban area.

For more details, please kindly visit:

https://english.thesaigontimes.vn/76793/thu-thiem-2-bridge-technical-opening-expected-by-end-2020.html

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Construction of giant industrial park begins in Long An Province

TIZCO Joint Stock Company and Viet Nam Innovation Parks Management Corporation broke ground on Sunday (May 17) for the 1,800ha Viet Phat Industrial Park in Long An Province, one of the largest IPs in the country. Situated in Thu Thua District’s Tan Long Commune, the IP will have an advantageous position in the Southern Key Economic Region, with convenient road and waterway transportation links with HCM City and other localities in the south.

For more details, please kindly visit:

http://bizhub.vn/news/construction-of-giant-industrial-park-begins-in-long-an-province_315640.html

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ACV to invest in new terminal at Tan Son Nhat International Airport

Prime Minister Nguyen Xuan Phuc on May 19 granted approval for an investment project involving the new Passenger Terminal 3 at Tan Son Nhat International Airport, assigning the Airports Corporation of Vietnam (ACV) as the project’s main investor in the process. The project has an overall investment capital of approximately VND10,990 billion and is expected to be completed within the next 37 months.

For more details, please kindly visit:

https://english.vov.vn/economy/acv-to-invest-in-new-terminal-at-tan-son-nhat-international-airport-413873.vov

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Vietnam-EU trade pact could boost post pandemic recovery

The trade pact with E.U. could help the Vietnamese economy recover from pandemic impacts by boosting trade and creating jobs, the government says. It made the observation Wednesday while submitting the EU-Vietnam Free Trade Agreement (EVFTA) to the National Assembly for ratification. Lawmakers will discuss the trade pact starting Wednesday and vote on it on May 28. 

For more details, please kindly visit:

https://e.vnexpress.net/news/business/economy/vietnam-eu-trade-pact-could-boost-post-pandemic-recovery-4102473.html