Weekly News 25.5.2020 – 29.5.2020

Vietnam to restart some international flights by June 10

The Civil Aviation Administration of Vietnam (CAAV) has also been tasked with proposing a specific time frame for resuming the flights on a bilateral basis to restore trade and investment activities and revive the tourism industry while ensuring strict maintenance of anti-pandemic measures. Nguyen Quy reported on VNExpress.

For more details, please kindly visit:

https://vietnaminsider.vn/vietnam-plans-to-reopen-some-international-flight-routes/

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Vietnam’s Ho Chi Minh city to create innovation hub by merging three districts

The Department of Home Affairs of Vietnam’s largest city of Saigon (Ho Chi Minh City) has submitted a plan to the People’s Committee on the merger of three districts and 19 wards in the eastern side of the city. The city will merge districts 2, 9 and Thủ Đức and 19 wards in districts 3, 4, 5, 10 and Phu Nhuan to form the creative hub.

For more details, please kindly visit:

https://vietnaminsider.vn/vietnams-ho-chi-minh-city-to-create-innovation-hub-by-merging-three-districts/

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Legal wrangling over FOL reignited

Despite the changes to the Law on Housing and foreign ownership caps five years ago, real estate developers now show an increasing demand to revise regulations and increase the cap even more, to up to 50 per cent. However, revisions will be tough to put into practice, even if the suggestion is recognised by the government.

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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How Facebook supports Vietnam in boosting its digital transformation?

Facebook just launches a campaign to assist Vietnam in developing digital economy. Focusing on innovation, safety and digital literacy, smart cities, the digital economy and the community, the “Facebook for Vietnam” program is being deployed from May to December this year by the company, in collaboration with the US delegation in Vietnam and other partners.

For more details, please kindly visit:

https://vietnaminsider.vn/how-facebook-supports-vietnam-in-boosting-its-digital-transformation/

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Local airlines would offer more rates with increasing ceiling prices

Increasing ceiling rates for airfares would bring more opportunities for local aviation firms to have flexible and suitable price policies in the domestic aviation market. Domestic aviation firms made the statement after the Civil Aviation Authority of Việt Nam (CAAV) proposed the Ministry of Transport temporarily halt the adjustment of ceiling rates for airfares, which was submitted to the ministry in March.

For more details, please kindly visit:

https://vietnamnews.vn/economy/717222/local-airlines-would-offer-more-rates-with-increasing-ceiling-prices.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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Quang Yen Economic Zone added to coastal economic zone planning

Quang Yen Economic Zone located in the northern province of Quang Ninh has been approved to be added to Vietnam's coastal economic zones development planning to 2020. Quang Yen Economic Zone (EZ) will be implemented according to regulations, ensuring that it will not impact the environment, national safety and defense, as well as the forest and the lives of local people.

For more details, please kindly visit:

https://www.vir.com.vn/quang-yen-economic-zone-added-to-coastal-economic-zone-planning-76581.html

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HCMC plans to build a new hi-tech industrial park in Binh Chanh

HCM City People’s Committee asked the department to review the current industrial and processing zones and find suitable lands to attract investments to the city and build the new hi-tech industrial park. The new park will be a new gathering place for hi-tech firms and support start-up companies.

For more details, please kindly visit:

https://vietnaminsider.vn/hcmc-plans-to-build-a-new-hi-tech-industrial-park-in-binh-chanh/

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JUTEC seeks investment opportunities in Vietnamese real estate

JUTEC Corporation of Japan is planning to co-operate alongside a Vietnamese partner as they seek to set up a joint venture, with JUTEC set to contribute 50% to expand its business operation in the local real estate market. The joint venture is expected to offer management and operation services for apartments that fall in line with Japanese standards in order to provide the best possible experience for foreign customers who are currently living and working in Vietnam.

For more details, please kindly visit:

https://english.vov.vn/economy/jutec-seeks-investment-opportunities-in-vietnamese-real-estate-414221.vov

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There is always a bright side as Vietnam’s fintech boosting by COVID-19

Southeast Asia is considered a great potential market for online payments, of which, Vietnam is forecast to be the third largest internet economy in the region, after Indonesia and Thailand. The application of financial technology (fintech) has grown and Vietnam is going through a period of rapid development in the area. In just four years, the number of fintech companies in the country has increased from 40 to more than 150.

For more details, please kindly visit:

https://vietnaminsider.vn/there-is-always-a-bright-side-as-vietnams-fintech-boosting-by-covid-19/

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VN needs to change its ways to attract FDI leaving China: experts

Việt Nam has some great advantages while competing with regional countries in attracting capital flows moving out of China after the COVID-19 pandemic, experts have said. A report by SSI Research said foreign projects set up in industrial parks in the country were up 32 per cent year-on-year in the first four months of the year to US$9.8 billion. The pandemic has shown that many large countries’ supply chains are heavily dependent on China, and they have taken drastic steps to cut this dependency. 

For more details, please kindly visit:

https://vietnamnews.vn/economy/717154/vn-needs-to-change-its-ways-to-attract-fdi-leaving-china-experts.html