“Substandard Chinese goods have the fault of Vietnamese traders” VietNamNet Bridge – Mr. Wei Zi Shen, Trade Consul of the Chinese Consulate General in  Mr. Wei Zi Shen, Trade Consul of the Chinese Consulate General in VietNamNet’s series "Finding sustainable path for Vietnam-China trade" has received the attention of many readers and local businesses. To broaden public opinion and contribute to promoting Hello Mr. Wei Zi Shen, thank you for accepting our invitation to attend this meeting today. Hopefully we will have an open, straightforward and constructive discussion in order to build and improve the quality of Vietnam-China trade. Firstly, could you tell us about the position of In recent years, economic and trade cooperation between According to statistics from the Chinese customs agency, in 2012 two-way trade of two countries reached $50.4 billion, an increase of 25.4 percent over the same period in 2011. In particular, However, despite achieving impressive numbers like that -- but to be honest, the two-way trade between How do you assess the Vietnamese market? What are the strong and the weak points? In addition to the land resources, However, it should be said straight that Can you tell us the trade-economic policy of the Chinese government with On the other hand, the Chinese government will continue to support large, prestigious enterprises, which have the financial capacity, of How can you explain some "not good" signs that have appeared recently? Firstly, many large projects of Chinese investors bring backward technology into It is true that there are some Chinese products of low quality and the Chinese government has always aggressively combated counterfeiting and substandard goods and tried its best to restrict poor quality and counterfeits sold on the market. The fact is that the vast majority of Chinese goods are of good quality, otherwise Chinese goods cannot be sold around the world and In the Vietnamese market, some poor quality products produced by Regarding to construction projects implemented by Chinese contractors which are implemented behind schedule, with poor quality and obsolete technology etc. ... objectively, there really exist the phenomena mentioned above. But this is not all but only a small percentage of it. The reason I say this is because Chinese enterprises have become a major force in the field of contracting Vietnamese works in the fields of transport, electricity and infrastructure. Many major projects have been completed and put into operation, achieving very good performance, playing a key role in the building of the country of Unfortunately, such good information has been published on newspapers much and Vietnamese people have not accessed to it. Most of them only know the bad news from newspapers. Try asking if Chinese enterprises are too bad as the information on daily newspapers, how they can stand on the Vietnamese market? Moreover, as far as I know, no “problematic” project is entirely due to Chinese enterprises. To complete the projects, many Chinese enterprises have to offer a higher price than they need to be. For example, site clearance work, order and safety in the construction site, etc... In a large project implemented by Duy Chien |
Article 4
↧
↧
Article 3
BUSINESS IN BRIEF 26/5 Waste treatment plants await investors HCMC is calling for financially-capable investors to develop a waste-to-power plant capable of processing 2,000 tons of garbage daily and a toxic waste treatment plant of the same capacity. These are two out of 41 priority programs and projects in 2013-2015 as part of the climate change response scheme that the city’s government approved late last week. The waste-to-power plant requires an estimated cost of some US$280 million while the toxic waste treatment plant needs about US$100 million. HCMC discharges 7,500 tons of waste a day but there have been no waste-to-power plants for the city up to now, said Nguyen Trung Viet, chief officer of the municipal Climate Change Adaptation Department. Many investors have sought permission to invest in such projects in the city but no schemes have been deployed due to capital shortage or unsuitable technology, Viet said. The city now has only a few waste treatment facilities that are fitted with gas recovery equipment for power generation like Da Phuoc, Go Cat, Dong Thanh and Phuoc Hiep. Besides the aforesaid facilities, the local government has approved a plan and an action program on climate change response in the city by 2015. Under the program, several much-needed projects have been designed, including piloting biogas power generation from waste at wholesale markets, inspecting greenhouse gas emissions, and building a regulation reservoir in Go Dua in Thu Duc District among others. Inflation in The research shows that in all five-year periods between 1991 and 2012, The research conducted by Dao Van Hung, Nguyen Thac Hoat and their colleagues at the Inflation in From 1986 to 2012, there were 13 years and four five-year periods in which inflation in Even when compared with In the period from 2008 to 2012, From 1991 to 2010, the annual economic growth in Ho wondered: “How come their growth is twice as much as ours and inflation only a half?” Pointing at the chart of inflation in 1992-2012 shown at the workshop, Nguyen Thac Hoat said: “The inflation line fluctuates widely, the peak is sharp and the amplitude is large. All of these reveal that inflation in Deputy Minister of Planning and Investment Cao Viet Sinh said rampant inflation in Other nations can offer low lending rates because the macroeconomic risks are small. After the policies aimed at curbing inflation have been adopted for quite a long time, enterprises now no longer want to do business and consumers no longer want to spend, he remarked. “Given current high lending rates and poor consumption, enterprises deposit their money in banks to enjoy interest sums rather than making investment and doing business. Such a trend is very dangerous,” he stressed. As one of the main authors of the Government’s economic development plans, Sinh wondered how to find financial resources to prop up the economy, especially when the credit growth target of 12%, equivalent to VND360 trillion, for this year is unattainable. Economists said the most ideal inflation for the period from now to 2015 should be 7-7.5%. They suggested there should be an independent agency to carry out the fiscal and monetary policies in coordination with the central bank and the Ministry of Finance. SOEs reform is too slow It would be hard to accelerate the reform of State-owned enterprises (SOEs) in According to the Ministry of Planning and Investment, only 27 State-owned companies had been restructured nationwide from last year to March with 16 entities going public. Besides, many State conglomerates will delay their equitization plans until after 2015, says a report of the planning ministry at the seminar “Sharing experiences on improving criteria and list of classifying State enterprises” in As much as 76 companies will delay equitization plans until after 2015, including 61 provincial firms and 15 subsidiaries of groups and corporations, the ministry reports. The Prime Minister has already approved 99 out of 101 projects which are designed to arrange and renovate State-run entities in the 2012-2015 period so far, said Le Manh Hung, deputy head of the Agency for Business Development under the ministry. As of the end of last month, the Prime Minister ratified restructuring schemes of six out of nine economic giants and ten of 12 members of 91 corporations. However, the fact shows that the plans are being deployed in a slow manner. Ho Sy Hung, head of the business development agency, posed the question of why State-owned giants in the paper, textile and aviation industries have still failed to carry out their equitization plans. He wondered if related policies are unsuitable for the activities. An executive of the Vietnam Oil and Gas Group (PVN) with up to 206 corporate members, raised concerns that the execution of the restructuring plan of his entity that was given approval from the Prime Minister would be really tough to achieve. “Recently, it has been very difficult to deploy equitization or withdraw capital from non-core business sectors. Plenty of PVN affiliates have been unable to divest or recover their capital,” the executive said. In fact, executives of these entities are afraid of losing State capital but they find it impossible to secure the sum by either maintaining or transferring the stakes they hold at non-core business areas, he added. Restructuring SOEs now is only moving at a snail’s pace, according to a recent report of the National Assembly. Farmers shy away from shrimp farming despite good price Rising demand from foreign markets and local undersupply are said to have fueled up prices of unprocessed shrimp in the Mekong Delta recently but farmers have still been indifferent to resuming shrimp farming in the region. Prices of shrimp materials have rebounded markedly in recent days thanks to the global market’s recovery while harvest volume has fallen and failed to achieve the targets, said Truong Dinh Hoe, general secretary of the Vietnam Association of Seafood Exporters and Producers (VASEP). VASEP has yet to obtain the latest information on shrimp exports of local enterprises from customs agencies but Hoe affirmed the price hikes indicate the improving demand in foreign markets as well as a decline in material supply at home. “The mortality rate at shrimp farming areas in As Thailand and Vietnam are the two major shrimp suppliers of Japan, the Northeast Asian nation has shifted to purchasing Vietnamese shrimp given the current widespread shrimp death in Thailand, he remarked. Speaking with the Daily, Kich noted that now is not the peak consumption season in importing countries, but the number of export contracts that Cafatex has sealed since last month has risen strongly over the same period last year. Prices of shrimp materials, including tiger shrimp and white-legged shrimp, have soared by over 20% against last year, he informed. Vo Hong Ngoan, a veteran shrimp farmer in Bac Lieu, said frozen tiger shrimp now is priced at around VND250,000 a kilo for the 20-shrimp type and VND200,000-220,000 a kilo for the 30-shrimp category. “Some traders even buy live shrimp at up to VND300,000 a kilo for the category of 30 shrimp at certain times,” he added. Though shrimp material prices have picked up strongly over the year-ago period which is expected to bring in lucrative profits, farmers are still indifferent and have yet to resume farming. Nguyen Van Nhiem, chairman of the My Thanh Shrimp Association in Soc Trang, said shrimp prices in the province have stayed high but local farmers are hesitant to do the job owing to financial constraints and epidemic outbreak concerns. Member farmers have resumed farming in only 450 hectares out of 2,600 hectares under shrimp cultivation of the association. Firm hand on asset tiller buoys market The market was given a boost after the Prime Minister approved the establishment of a national asset management corporation (VAMC), which helped maintain the uptrend on both stock exchanges during yesterday's session. The State-owned corporation, with an initial charter capital of VND500 billion (US$23.8 million), will be responsible for handling bad debts held by credit institutions and is set to begin operations from July 9 this year. The VN-Index on the HCM City Stock Exchange gained 0.41 per cent to finish the session at 502.23 points. The market volume was down 25 per cent from the previous session, however, totalling nearly 67 million shares, while the value of trades decreasing 30 per cent to VND1.086 trillion (US$51.7 million). Blue chips were mixed. Among the top 30 shares by market capitalisation and liquidity, 13 advanced while 12 declined, lifting the VN30 up just 0.23 per cent on 566.79 points. Vinh Son-Song Hinh Hydro-power (VSH) surprised the market to become the most active code on the southern bourse with 3.53 million shares changing hands. VSH climbed over 2 per cent at VND14,700 ($0.70) a share. On the Ha Noi Stock Exchange, the HNX-Index grew 1.56 per cent to a close on 62.59 points. Trading value also increased 20 per cent over the previous session, totalling over VND511.3 billion ($24.3 million). A sudden rise on both markets on Tuesday made many investors cautious over the sustainability of an uptrend, but according to stock analysts at Viet Nam Investment Securities Co, as liquidity remained high yesterday, investors felt more confident in the market. "Cash flow shifted to the Ha Noi Stock Exchange yesterday as investors sought profits from speculative stocks which have not increased much over the past time," analysts wrote in a note. Sai Gon-Ha Noi Bank (SHB) was the most active code on the northern bourse on huge trades of 18.9 million shares, edging up nearly 3 per cent to settle at VND7,200 a share. Other speculative stocks such as Sacomreal (SCR) and PetroVietnam Construction (PVX) also saw active trades with each having from 5.4-6.8 million shares exchanged. SCR rose 1.3 per cent to VND7,900 while PVX climbed 5.8 per cent to VND5,500. Foreign investors were also net buyers yesterday on both exchanges, picking up shares worth a combined VND47.5 billion ($2.3 million). State Audit reports on SBV performance in 2011 The State Bank of This was according to the online newspaper VnEconomy which quoted the State Audit's report on the State Bank's performance in 2011. However, the State Audit said the central bank management must be held responsible for lending growth failing to reach its target and bad debts continuing to rise since 2007. The State Bank's inspection and supervision on refinance loans was also referred to as "untimely" or "incomplete". The State Audit said that some commercial banks borrowing refinancing loans had violated regulations on capital adequacy but the central bank did not warn, prevent and handle the matter quickly enough. For example, the Northern Asia Bank, Trust Bank violated the ratio in the first nine months of 2011, but the State Bank only started supervising their activities in late November. The State Bank's management on the interbank market also was "limited", and it could not control unusually high interbank rates. The State Audit commented on an incident in February 2011 when the interbank rate surged to 30 per cent a year, and up to 37.5 per cent in November against deposit rate cap of only 14 per cent at that time. As for commercial banks, the State Audit said most had followed legal regulations on lending and credit growth. However, some banks had gathered and finished legal and economic documents before lending was incomplete. Control before, during and after lending was not strict. In cases where banks classified loans inappropriately, the State Audit asked the Bank for Investment and Development of Viet Nam (BIDV) and the Mekong Housing Bank (MHB) to make the necessary adjustments. Some lenders had high overdue debts on the interbank market. For example, MHB's outstanding deposits at the end of 2011 at other credit institutions was VND11.73 trillion (US$558.94 million), of which overdue deposits that must be renewed reached VND1.15 trillion ($55.1 million) and more than $4 million in total. The State Audit said trading in the forex market of some commercial banks had not followed the rules while some had violated interest rate cap regulations. The US Department of Commerce (DoC) has decided to increase anti-dumping duties on tra fish imported from Viet Nam by an additional US$0.52 to $1.29 per kilo, said the Viet Nam Association of Seafood Exporters and Producers (VASEP). Association secretary Truong Dinh Hoe said the tax hike was made after the In March, the On a brighter note, The regulation has been applied to all kinds of shrimps imported from The ban led to a close watch on the industry – from shrimp breeding to final processing – by However, experts believe To push up the export turnover of seafood to the Japanese market, deputy director of the Department of Fisheries Nguyen Huy Dien said localities needed to further focus on preventing shrimp diseases. In addition, Dien said it was also necessary to pass on shrimp raising methods that ensured low Ethoxyquin content, an anti-oxidant substance popularly used in preserving aquatic feed. In the first four months of this year, Low inflation keystone for growth Single-digit inflation should be maintained for three coming years to achieve the economic growth target, experts said at a Tuesday conference held by the Nguyen Thac Hoat from the academy said in the economic downturn, the inflation rate in the 2013-15 period should be controlled at about 7-7.5 per cent. This is to allow gross domestic product (GDP) to grow at an average of 6.5-7 per cent per year as targeted by the National Assembly. A report at the conference said that economic growth and inflation in Statistics showed that in 2004-06, inflation was within 7-9.5 per cent and GDP growth at 8-8.5 per cent. However, in 2010-11, when inflation rocketed to double-digits, GDP grew at only 6-6.8 per cent. Experts said that the country's economic growth relied too much on an increase in investment during 2007-11. Together with the inefficient use of capital, it put pressure on inflation to rise. Hoat calculated that when inflation exceeded the optimal threshold, an increase by 1 per cent of inflation could lower economic growth by 0.0138 per cent. Economist Luu Bich Ho forecast economic growth at 5-6 per cent per year. He said that the optimal inflation rate was between 7-8 per cent, but could be lowered to 5-6 per cent when the economy experienced higher growth. According to academy director Dao Van Hung, declining credit growth from 2011, despite a slight increase in the the past two months (by 1.4 per cent by the end of April) put impacts on the economic growth. Inflation control required co-ordination and consistency of financial and monetary policies, Hung said. Tighter policies could help prevent inflation in the short term, he stressed, but added that the risk of inflation return remained high. Nguyen Thi Kim Thanh, director of the Banking Strategy Institute, said the management of investment capital should be enhanced to ensure efficiency. VHG to delist if restructuring fails Beleaguered Viet Han Investment and Production (VHG) would delist if its restructuring plan failed, according to the company's recent annual meeting. The board of directors would assess the possibility of success of the restructure and, at the same time, choose a reasonable time to delist, if necessary, so the maximum benefits to shareholders would be assured. The company has 25 million shares listed on the HCM City Stock Exchange. Under the restructuring plan, VHG will probably be split, merged or establish new subsidiaries. It will have to transfer assets and shares in subsidiaries and associates to other entities. The company will also settle and liquidate its projects, such as D'Evelyn Tower Da Nang, D'Evelyn Beach Quang Last year, it planned to established a VND100 billion (US$4.7 million) limited liability company to manage the rubber project. Previously in 2011, the company invested 65 per cent in a VND100 billion partnership in the D'Evelyn Beach Quang Of the above projects, the most expensive was D'evelyn Tower Da Nang, which was expected to cost the company VND850 billion ($40.4 million). It was kicked off in 2010 and VHG has poured in VND108 billion ($5.1 million) so far. Prior to the annual shareholder meeting, the company had said it hoped the transfer of its projects and assets would account for 50 per cent of this year's revenue. VHG has targeted a revenue of just VND200 billion ($9.5 million) for 2013. It also expects losses would narrow to VND20 billion ($952,300) compared to VND36 billion ($1.7 million) last year. VHG shares closed yesterday at the ceiling price of VND4,000 ($0.19). US steel producers make dumping claim After welded steel pipes and steel wire garment hangers, now welded stainless pressure pipe from The Viet Nam Competition Authority under the Ministry of Industry and Trade on Monday said three US stainless pipe producers - Bristol Metals LP, Felker Brothers Corp and Outokumpu Stainless Pipe Inc- have filed a trade petition with the US International Trade Commission (USITC) and the US Commerce Department (DOC) seeking to impose anti-dumping duties against welded stainless pressure pipe from Malaysia, Thailand and Viet Nam. Last year, imports of steel pipe from The petition alleges dumping margins of 15 to 17 per cent for The ITC will hold a hearing on June 6 and make a preliminary determination by July 1, Bristol Metals said. The action marks the third steel-related trade case against Vietnamese steel products filed in the In the past two years, the domestic steel industry faced five anti-dumping lawsuits and two anti-subsidy ones from the However, US ITC announced late last year that after investigation, it found welded carbon-quality steel pipes imported from According to Tran Tuan Nghiep, director of Huu Lien Asia Corporation, a defendant in last year's lawsuit against Viet Nam welded carbon-quality steel pipes, price competition in the steel market is fierce and if Vietnamese steel is subject to more and more anti-dumping and anti-subsidy tariffs, it could lose an important market. Taxi operations run riot in Hanoi "This problem is a type terrorism on our services." Khuat Viet Hung, head of the Transportation Department said. According to Hung, it's easy to acquire a business permit and open a taxi companies. Many have taken advantages of the situation to lie about their businesses and establish a taxi company with only a few of cars, no offices or managers. Some even have set an income quota so their employees must find ways to meet the goal, leading to bad services such overpricing or deliberately extending journey lengths. There are about 1,000 such kind of taxis operating in "The authorities must be more responsible by conducting inspections and quickly dealing with substandard companies." Hung said. Nguyen Hoang Linh, deputy head of Hanoi Department of Transport said they have developed regulations for taxi services in To deal with these problems, the Hanoi Taxi Association plans to raise the fine from VND20 million (USD960) to VND50 million if their members are found out to have cheated customers. "We are managing over 100 taxi companies in Authorities tighten control over state-owned enterprises The newly issued decree concerning Vietnam Electricity Group (EVN) issued by the Ministry of Industry and Trade stated that the group's CEO will be dismissed if he lets the company suffer losses for two consecutive years. EVN's chartered capital as of December 31, 2012 reached USD7 billion, and the group has been given the goal of earning a profit. The Ministry of Industry and Trade will be responsible for assigning EVN's CEO position and will cancel the contract if the CEO fails to maintain the expected return on equity or if he or she incurs losses for two consecutive years. Both the CEO and chairman will also be dismissed if EVN incurs "inexplicable losses", and they will be required to pay compensation in accordance with the law. In return, EVN will be given the authorisation to adjust the electricity prices within the regulated price limits. Previously, a new decree was drafted to replace the decree 101 issued in 2009 addressing state-owned enterprises, also stated that CEO of the corporation must go if the mother company face losses for two consecutive years or was unable to achieve expected return on equity. The CEOs of state-owned enterprises are to be sacked immediately if they fail to meet the members' council's tasks, violate the council's decisions or let the company fall into bankruptcy or refuse to file for bankruptcy if needed. However, many CEOs have been able to dodge the regulation by justifying their losses, saying that they are a result of expansion or technology upgrades. The Ministry of Industry and Trade said the corporate regulations must indicate in detail the requirements of CEO and that CEO terms must be no longer than five years The city hopes to earn over VND81 trillion (US$40 billion) in revenue, up 15 percent from last year’s figure. The local tourism industry is gearing up for the upcoming 9th International Travel Expo Ho Chi Minh City - ITE HCMC 2013 in September. Sales promotion months will be held from September to December, along with other activities to improve the quality of tourism products and to lure more foreign visitors. VietJetAir launches HCMC-Buon Me Thuot route During the promotion a one-way ticket on one of the route’s seven flights each week will cost just VND390,000. The flight takes off from VietJetAir plans to continue expanding its markets and will offer more domestic and international flights in the future. Following the start of Besides, IMF positive about The International Monetary Fund (IMF) has made positive assessments on A press release, posted after IMF concluded the annual consultation mission to It pointed out that the country’s headline inflation reduced from double digits to about 7 percent year-on-year in March, while calm has return to the financial market with the SBV’s efforts to provide liquidity and the merger of several small, weak banks. The achievements gained during the macroeconomic and financial market stabilization in 2012 helped improve the credibility of the SBV with market participants, IMF affirmed, noting that while headline inflation has come down, core inflation (excluding basic food and energy) still remains high, limiting the room for interest rate cut. The fund suggested the Vietnamese Government accelerate reforms in the banking and State-owned enterprises sectors to reduce vulnerabilities and restore The recent stabilization gains need to be consolidated through appropriate macroeconomic policies to further bolster international reserves and fiscal buffers, it said. At a recent interview granted to the Vietnam Television, the IMF Mission Chief Alfred Schipke also affirmed that Vietnam’s economic policy has rather succeeded in restoring macroeconomic stability over the past more than one year, which is reflected in the strong decline of headline inflation and the increasing trust in domestic currency. Regarding the gold market, the IMF mission said that the SBV’s recent moves to manage the gold market, including the rejection of the monetary intermediary role of gold, help reduce fluctuations in the financial sector caused by gold speculation. It also agreed with the central bank’s measures to ban other banks from receiving deposits in gold, saying that it is for the benefit of financial stabilization. Vietnamese, French businesses promote cooperation in national defence French businesses are interested in They showed interest at a meeting co-organized by the Vietnamese trade office in Mayor of Neuilly Sur Seine and Vietnamese ambassador to France Duong Chi Dung affirmed that there are huge opportunities for French and Vietnamese businesses to promote cooperation in economics and national defense in the context of growing bilateral relations. Major-General Tran Trung Tin said this is the first time Vietnamese defense businesses have come to Rubber exports fall sharply Due to a sharp fall in both volume and price in the first quarter of 2013, rubber exports earned 24.2 percent less than in the same period last year. According to the Ministry of Agriculture and Rural Development (MARD), rubber exports in April alone were estimated at 44,000 tonnes, worth US$610 million, down 12.9 percent in volume and 24.2 percent in turnover. The average rubber export price was US$2,683 per tonne, down 8.7 percent from last year. The price of SMR3L rubber in the first week of April was just US$2.780 per tonne, down 1.8 percent. As Meanwhile, rubber exports to The world rubber market’s outlook is grim, with reserves estimated at just 2.17 million tonnes by 2014. Those at Thanh Dao - China’s largest rubber centre already hit a record high level of 366,900 tonnes in mid- April while rubber prices in Thailand, the world’s largest manufacturer, rubber prices dropped by 1.5 percent to US$2.84 per kilo by the end of April. A rubber latex export business owner says his company exports as much as 90 percent of total output. If its products were sold in the country, they would have to pay 5 percent VAT. Professor Nguyen Viet Bac from the The Vietnam Rubber Association reports that raw rubber exports account for 87 percent of the country’s total rubber output, often at low value-added prices. The Central Highland Steering Committee has a plan afoot to promote the intensive processing and diversification of rubber products. Total rubber plantations cover 242.810 hectares with an annual output reaching 165 - 170,000 tonnes, lower than in the southeastern region. The reason is the Central Highlands has only invested in rubber latex factories. In Dak Lak province, a newly-built rubber processing factory has a design capacity of 15,000 tonnes of latex while six existing factories produce only 40,000 tonnes of latex per year. Many experts argue that for the sustainable growth of the rubber sector, it is imperative to draw up long-term contracts between processing businesses and retail companies with fresh impetus given by the government under its incentives policies. Banks still hold power over VND30-tril. package While the HCMC Department of Construction is making a list of budget and small-sized housing projects to be offered to beneficiaries of the VND30-trillion subsidy package next month, it is commercial banks that decide who can access these soft loans. A banker in the group of five commercial banks selected to undertake the loans on Tuesday told the Daily that lenders have the right to give loans to customers or not. Customers’ solvency will be the top priority during credit application assessment because banks will have to set up reserve funds for future bad debts. In this home loan subsidy package, the central bank has forced commercial banks to deduct for reserve funds at 0.75% of the total outstanding loans. Because the difference between the central bank’s refinancing rate and the lending rate banks will offer to customers is just 0.75%, banks are unable to compensate for costs. If risks occur, banks must have solutions to deal with the problems and deduct more for reserve funds. Therefore, lenders will be very cautious in assessing credit applications. In other words, the lower the income of a customers, the less possibility they will be offered bank loans. Lenders will not take risks in giving loans to customers that may not pay debts, the banker said. Tran Trong Tuan, director of the HCMC Department of Construction, said that investors have registered to convert three commercial projects into budget home projects to benefit from this package. The department expects to supply around 3,000 condos for the market this year. Concerning affordable commercial condos, the department will review each project and negotiate with investors on a voluntary basis. If investors wish to join the program, the department will introduce their projects to homebuyers. The department will announce the list of budget and affordable home projects next month but newly-completed or nearly-finished projects will be prioritized. The department will not eye projects that remain on paper or that only have the site clearance step finished to prevent further stockpiles, Tuan said. To reach soft loans, customers will sign home leasing or buying contracts with investors and then contact any of the five banks to ask for credit. The bank will assess necessary documents before giving them loans. PVFCCo receives operational excellence certificate PetroVietnam Fertilizer and Chemicals Corporation (PVFCCo) was granted with the Certificate of Operational Excellence by Denmark-based Haldor Topsoe A/S in a visit trip to this country last week. The certificate is given to recognize the safe and stable operation progress of Phu My fertilizer plant owned by PVFCCo and located in Phu My I Industrial Park, Ba Ria-Vung Tau Province’s Tan Thanh District. The plant has a production capacity of 800,000 tons of urea fertilizer per year and uses the technologies of Haldor Topsoe A/S and Greenback expensive at some banks A number of banks lowered their U.S. dollar prices in the last 48 hours, but others are still quoting the greenback at high levels, hitting the ceiling of VND21,036 for a dollar. At Techcombank, the ceiling price has remained unchanged since last Thursday. Some other banks, like Vietcombank, cut the dollar price to around VND20,020, down a mere VND16 over the preceding day. Meanwhile, Sacombank, BIDV and Eximbank kept their prices at over VND21,025. Nguyen Hoang Minh, deputy director of the central bank’s branch in HCMC, noted foreign currency supply and demand remained stable in the city. While foreign currency deposits in April fell 4.4% against end-2012, loans in foreign currency dropped 8.2%. Banks have demand for foreign currencies, he stated, but they have to ensure their foreign currency status does not fluctuate wider than 2% per day. They keep buying foreign currency as the interest rates for dong have sharply declined. In the free market, one U.S. dollar sold for VND21,400, up VND120 over last weekend. In related news, the central bank spent some US$1 billion importing gold after selling nearly 19 tons of gold via auctions. In an auction on Tuesday, 26,000 taels were sold at roughly VND40.53 million per tael. Foreign ownership cap in local banks to rise Foreign investors can own stakes exceeding the prescribed limit in local banks, says a draft decree prepared by the State Bank of Vietnam (SBV). The decree is drawn up to replace Decree 69/2007/ND-CP dated April 20, 2007. It has been submitted to the Government. As per the draft decree, an individual foreigner can own a maximum stake of 20% in a credit institution with no need to get the nod from the Prime Minister. Currently, approval from the Prime Minister is required. In some special cases, the Prime Minister will specify the combined stake that foreign investors and those persons related to them can hold in a weak bank, which may exceed the above cap, in order to restructure the banking system, according to SBV. Currently, Decree 69 stipulates the combined stake that foreign investors and those related to them can hold in a Vietnamese bank is 30%, consistent with SBV has compiled the new decree based on the ownership limit for a shareholder (15%) provided in the 2010 Law on Credit Institutions and the policy of encouraging foreign investors to join the restructuring of weak banks under Decision 254 of the Prime Minister. Many State-owned enterprises have pulled out of credit institutions, says the central bank. Import surplus hits US$1.2 billion in May The direct foreign investment (FDI) sector boasted US$7.12 billion, or 65.9% of Vietnam’s total export value and imported US$6.6 billion worth of goods, making up 55 percent of the country’s total import spending. Key export items included crude oil, seafood, rice, electronics, computers and spare parts, and garment and textile products. Imports were mostly electronic components, machinery, steel, chemicals, and petrol. Since the beginning of this year, Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR |
↧
Article 2
U.S. consular officer accused of taking bribes from Vietnam visa seekers
A spokesperson for the U.S. Embassy in Vietnam said they are working with law enforcement partners to investigate a consulate officer who has allegedly received bribes from Vietnamese seeking visas. In an emailed reply to Thanh Nien on Saturday, Christopher Hodges said they will seek to prosecute and punish those people involved to the fullest extent of the law. “Protecting the integrity of the U.S. visa is a top priority of the U.S. government. We have zero tolerance for malfeasance,” Hodges said. A report on the website of the U.S. News & Observer Thursday said Michael T. Sestak, who was in charge of handling non-immigrant visas at the U.S. consulate in Ho Chi Minh City until last September, is facing charges of conspiracy to commit visa fraud and accepting bribes. He was arrested in South California about one week ago, and will be sent back to Washington, where a criminal complaint was filed against him on May 6, the report said. It quoted State Department investigator Simon Dinits as saying in an affidavit that Sestak and five unnamed co-conspirators allegedly charged Vietnamese visa seekers between US$50,000 and 70,000 per visa. Under the scheme, one co-conspirator reached out to people in Vietnam and in the U.S., and would advertise that visas could be guaranteed, even for those who were unlikely candidates. The other co-conspirators would help prepare the applications, while Sestak would review them, he said. Dinits said one of Sestak’s alleged co-conspirators was the general director of the Vietnam office of a multinational company, and four others were his friends or relatives. All the co-consiprators live in Vietnam, Dinits said. Sestake is believed to have received several million dollars in bribes from Vietnamese residents seeking visas. He would move the ill-gotten funds out of Vietnam by “using money launderers through offshore banks, primarily based in China, to a bank account in Thailand that he opened in May 2012,” Dinits said. “He then used the money to purchase real estate in Phuket and Bangkok, Thailand.” According to Dinits, Sestak started working for the U.S. consulate in HCMC in August 2010, and had a remarkably lenient record for granting visas. The consulate received 31,386 non-immigrant visa applications between May 1 and September 6, 2012, and 35.1 percent of them were rejected. Meanwhile, during the same period, Sestak rejected only 8.2 percent of 5,489 applications he handled. The rate of visa rejection by Sestak was reported to have fallen to 3.8 percent in August, shortly before he was to leave the office in preparation for active-duty service with the Navy. U.S. investigators started investigating the case after an informant advised consular officials last July that 50-70 people from a Vietnamese village had made illegal payments to get visas, Dinits said. Thanh Nien News |
↧
Article 1
Friendly family doctors ensure home comforts
"My only son has had regular medical check-ups at the centre since he was born in 1998," said Hoa, adding that when she called the centre, Dr Nguyen Thu Thuy often arrived at her house within 15 minutes. "Dr Thuy gives him very careful check-ups and explains to me the way the medicines should be used and possible side-effects. She also advises me how to protect my son from epidemics." Hoa said Thuy gave her encouragement and support when her son went down with double pneumonia in 2000. She said Thuy had built up a deep knowledge of her son's health after attending him at the home, time and again, for almost 15 years. "Thanks to Dr Thuy, my son grew up healthy and escaped epidemics. "But another important thing is that we didn't have to take my son to hospitals, which are so crowded, and wait for at least half a day or more, and pay VND200,000 (US$10) return for a taxi to the hospital," said Hoa.
Hoa's neighbour, Bui Thi Mai, said she and her husband also preferred the family doctor centre. They suffered from arthritis and hypertension but wanted to avoid going to crowded hospitals. At the centre they were allowed to choose a doctor to regularly watch their ailments. "The doctor often gives us a very careful check-up and consults our records before writing out a suitable prescription. "We are confident in the services and our health is stable," Mai said. HCM City has also set up several family doctor centres since June last year. Dr Le Thanh Hung, deputy director of District 10 Hospital, said the family doctor centre, worked from 7am to 6pm, often treating a total of 200-250 patients a day. "We are improving the clinic, and plan to duplicate the model in other wards in the district to serve increasing demand," Hung said. Dr Tran Van Khanh, director of District 2 Hospital, said his family doctor centre, set up in October last year, had 18 doctors treating 40-45 patients each a day. "I hope to develop the model to serve more people from surrounding districts," Khanh said.
Difficulties included the lack of software to manage electronic case-reporting and connection to medical units to diagnose ailments and exchange views and information. "These are big challenges as we try to multiply the model," said Hiep. "In addition, the health insurance fund has not joined in the family doctor service," said Hiep. Luu Thi Thanh Huyen, deputy director of HCM City's social insurance fund, said the fund was ready to support the family doctor centre model but it needed concrete rules before it could implement it. "We have signed a contract with public hospitals and private medical centres to pay health insurance for patients but we haven't signed any contract with a family doctor centre, so the model should be connected to a hospital ward medical centre to receive health insurance from the city insurance fund. Meanwhile, Professor Didier Giet, head of the Belgian Liege University's General Medicine Faculty, said at a conference on family doctors held by the Agriculture Ministry Hospital in Ha Noi, that early health care at home had been a priority in many developed countries, including Belgium. Over the past 30 years, since 1978, the family doctor network in Belgium had been improving and played an increasingly important role in medical care, the professor said. More than 95 per cent of the Belgian population had family doctors. Giet said to become a family doctor in Belgium, the doctor had to pass seven years of general medicine at a medical school, and after that two years of professional family doctors. "These doctors work directly with people and each will take care of several thousand people," Giet said. "They need a wide knowledge in all fields, including paediatrics, obstetrics and gerontology. "In addition, they should be qualified in community healthcare and have good skills in dealing with patients." Giet said Viet Nam had favourable conditions to develop a family doctor network. They include priorities from the Government on community health care, such as an open vaccination programme. But the country still faced the problem that patients often self-diagnosed and self-medicated from a private pharmacy. "It is very dangerous," Giet said. Another problem was the number of people who went to a central hospital without getting a local medical check-up first, that caused the central hospital network to become overcrowded. "When working in HCM City I realised that general hospitals and emergency rooms had to work very hard to meet the increasing demand of not only the city population but also people from many surrounding provinces. It would be very difficult for medical workers to give high quality care for such a number of patients," said Giet. If the country had an early health care intervention and protection programme, as the Western countries had in the family doctor network, 80 per cent of health care demand would be solved, Giet said. Like other countries, Viet Nam's economic development was accompanied by an ageing population and lifestyle changes. This has caused more people to be faced with chronic diseases, such as heart diseases, diabetes and hypertension.
Family doctors should play an important role in long-term care of these patients, Giet said "Building and developing the model is not easy so Belgian experts in the field are ready to help Viet Nam to train a qualified family doctor team in order to take care of the community and help reduce pressure on central hospitals," Giet said. Meanwhile, Health Minister Nguyen Thi Kim Tien said the ministry has just approved a project to build and develop a network of family doctors for the 2013-20. The project would reduce overcrowding in hospitals, particularly central hospitals. "This is the first time the model has been officially implemented and joined the country's health insurance," she said. Tran Quy Tuong, deputy head of the Health Ministry's Department for Management of Medical Check-ups and Treatment, said family doctors would do clinical check-ups, watch and take care of patients with chronic diseases and advise people and the community on how to prevent ailments and protect their health. The family doctors would provide house-calls for medical check-ups and take care of the patients during their life. "Demands for these services are increasing, particularly among families having patients with ailments needing medical workers to take care of their relatives at their homes," Tuong said. Pham Luong Son, head of the Viet Nam Social Insurance Policy Department, said there would have to be concrete criteria and suitable regulations for the health insurance fund to pay a private clinic. Dr Nguyen Thi Phuong Hoa, deputy head of the Family Doctor Faculty of the Ha Noi Medical University, said family doctors would undertake three main tasks: do clinical check-ups and preventive medical care and act as a psychological doctor for patients. These doctors would also help to discover and treat emergency cases while promoting management of out-patient treatment in order to meet 80-90 per cent of health care demand, said Hoa. Doctors would set up an electronic case record of the patients in order to follow the development of their ailments. The case record would also keep health information of the rest of the family members. Dr Pham Le An, head of the HCM City Medical University's Family Doctor Faculty, said although the system came into being in Viet Nam more than 10 years ago, the family doctor system seemed to be new in the thoughts of many people. They thought family doctors were those who gave medical check-ups and treatment for rich patients at their house. According to a pilot programme of the Ministry of Health, from now until 2015, Viet Nam would build 80 family doctor centres in Ha Noi, HCM City, Hai Phong, Can Tho, Thai Nguyen, Thua Thien-Hue, Khanh Hoa and Tien Giang. From 2016-20 the model would be expanded nationwide. -VNS |
↧
Article 0
Higher education and non-core investment VietNamNet Bridge - Why do the agencies that are not involve in education and training try to keep for themselves a number of colleges and universities? Is the Ministry of Education and Training (MOET) incompetent in management? This question is a very sensitive and not everyone wants to answer. Many state "giants" have recently forced to divest investments from non-core industries under the guidance of the Government. The question is whether the education sector is related to non-core investment and does it need divestment?  Core and non-core investment Many thought that ministries and sectors do not invest in non-core areas so they do not need to divest, particularly the education sector, with limited capital. It is just the issue of banks and corporations. To explore this matter, let’s see how other ministries and sectors invest in education and how the education sector invests outside? According to the "List of public colleges and universities" published on May 3, 2013, Vietnam has 311 colleges and universities, including 181 colleges and 130 universities, not mentioning schools of the police and the army. Notably, these schools are managed by not only the Ministry of Education and Training but many other agencies that do not have the function of education and training (see the below table). The number of colleges-universities and their management agencies:
Looking at the table, one can see that the MOET manages less than 13 percent of the total colleges and universities across the country. The Ministry of Industry and Trade holds almost 10 percent of the schools and the provincial authorities control up to 42.77 percent of the schools. Except for the schools under the aegis of the MOET and provinces, ministries and state agencies control 44 percent of all colleges, universities in Vietnam. It's hard to imagine that the MOET only manages the leading universities in the field of industry in Vietnam like the Polytechnic University of Hanoi, the University of Technology of Ho Chi Minh City, the Polytechnic University of Da Nang while all other industrial universities are under the management of the Ministry of Industry and Trade. Similarly, the University of Pedagogics of Hung Yen and the University of Technical Pedagogics of Ho Chi Minh City are the subsidiaries of the Ministry of Education and Training, while the University of Technical Pedagogics of Nam Dinh and the University of Technical Pedagogics of Vinh are controlled by the Ministry of Labor, War Invalids and Social Affairs. Of the 36 teacher training colleges, the MOET only holds three schools. The remaining schools are under the aegis of local governments. The process of economic restructure is taking place in parallel with the process of education reforms. The question is should ministries and state agencies are requested to “divest” from colleges and universities like state groups are doing with non-core investment? Clearly, funding for education and training comes from the State budget, so the state agencies that do not have education and training functions do not want to hand over colleges and universities to the MOET. Furthermore, they benefit a lot from these schools, which will be discussed in the next part. Although they do not have to invest in these schools with cash, these agencies have to invest by human resource mechanisms and policies, and is that non-core investment? Why do these agencies want to keep schools? Is that because the MOET is incompetent in management? This question is a very sensitive and not everyone wants to answer. Before explaining several reasons, we should see whether the MOET performs non-core investment or not? This relates to a "feature" - the title of professor and associate professor. In Western countries, “professor” is not an academic title or a scientific title but a teaching position, which is usually decided by universities themselves. When a person who holds the Professor title does another job that is not teaching, they is no longer a professor. Only some of them are recognized as Honorary Professor. In Vietnam, Professor and Associate Professor are considered the title conferred by the State. To be recognized as a professor or associate professor, candidates must pass three rounds of selection at the grassroots, the sectorial and the state levels. Title should be replaced by position The first round that candidate has to pass is the Grassroots Title Council. This council is associated with universities and research institutes. Obviously, holding some universities and research institutes is a major advantage for getting “title” of officials of the agencies that manage universities and colleges. The statistics by the end of 2011 show that: Vietnam had 1,432 professors and 7,750 associate professors and about 70,000 lecturers at colleges and universities. However, the number of professors and associate professors who are university lecturers accounted for only 1 percent and 5 percent of the total number of lecturers. In early 2013, this figure changed for the worse (according to the Communist Party of Vietnam online newspaper,) of 1,473 professors and 8,176 associate professors in the country, only 286 professors (0.5 percent) and 2,009 associate professors (3.37 percent) are lecturers of universities and colleges. According to another survey, of 9,649 professors and associate professors in Vietnam in early 2013, only 2,295 were involved in teaching, accounting for 23.8 percent. The remaining professors and associate professors are not lecturers. Some of them only guided several students in writing thesis to meet standards of getting professor and associate professor titles for the entire life. Professor and associate professor are the “specialty” of the education and training sector. With 76.2 percent of professors and associate professors who do not work in the education sector, the MOET has invested in “non-core” fields. The MOET loses the control of the process of granting the professor and associate professor title because it manages less than 13 percent of the total of colleges and universities in Vietnam, meaning that it manages less than 13 percent of the Grassroots Title Councils. One more thing should probably be alerted right now, is according to the Higher Education Law, local governments will have representatives to the Board of Directors of non-public universities. The appearance of professors and associate professors who are local officials is entirely foreseeable. By then the number of professors and associate professors that need to retire the titles is not only one third as Professor Hoang Tuy identified. Through three rounds from the grassroots to the state levels, each year Vietnam will have several hundred people that will qualify and will wait for being appointed by universities and academies as professors and associate professors. The number of people waiting for the titles will be longer and longer and corruption will surely happen. Why don’t we do one thing that we know for sure will bring about consequences? Why do we have up to 7,354 professors and associate professors who do not teach anyone? Why do we have to recognize professors and associate professors who then are not appointed by universities? It is time to abolish the concept of "titles" to replace by "position." The three step process should be implemented, as follows: - Universities and institutes based on their training needs to recruit professors and associate professors. - The list of selected candidates will be evaluated by the national accreditation council. - Universities and institutes appoint those who have been recognized. Doing this means putting an end to the “inflation” of professors and associate professors and reduce the number of professors and associate professors who are not lecturers. Of course the best way is to give schools autonomy, at that time professors and associate professors will have their names associated with the name of the schools that they are appointed. If education reform does not come with withdrawing colleges and universities from the agencies that are not involved in education and training and the change of the professor and associate professor title granting process, Vietnam’s higher education will be forever underdeveloped. Duong Xuan Thanh |
↧
↧
Article 9
VietNamNet Bridge – Mr. Wei Zi Shen, Trade Consul of the Chinese Consulate General in Ho Chi Minh City was upset about information on local newspapers which said that Chinese businesses bought odd things in Vietnam, causing impacts to the environment.  Trucks carrying goods from He said: “I have kept up with Vietnamese newspapers. I’m upset and waiting for the conclusion of the Vietnamese authorities but I have not seen it. The local press only said that Chinese traders buy this and that stuff but they did not say how much they bought and for what purpose and how the impacts on the environment. The articles only mentioned the phenomena without explanation! I really do not know anyone in I do not support the way of trade of the Chinese traders as mentioned in newspapers. But I think the Traders are individuals who buy and sell to make a profit so they operate spontaneous. We need to guide and instruct them. And they buy these things for what purpose? I think journalists can ask them about that. If both Chinese traders and Vietnamese farmers are instructed, it is too good for both! Farmers can sell products, Chinese merchants can buy goods. In fact, anything if you know how to exploit and exploit under planning will benefit both the buyers and sellers! If the things that Chinese traders buy are well organized, there is no problem at all. Many Vietnamese who go overseas have found out that China makes good products to sell to rich countries like the U.S., Japan, the EU, and sell cheap and poor quality goods for Vietnam or the goods that are ignored by the rich markets are sold to Vietnam? Oh not, it's wrong. I worked with many Chinese enterprises. I asked them why your products sold to Another common method of Chinese traders in Vietnam is buying goods in large volumes, at high prices at the beginning to stimulate farmers to produce massively but when the goods is abundant, they force the price down or go away, causing heavy losses for farmers? First of all I would like to assert that Chinese merchants purchase agricultural, forestry and fishery products of Vietnam is entirely market behavior, totally decided by the market. This also demonstrates that the Chinese market has the demand and the market of If there are no Chinese traders purchasing raw agricultural products of Secondly, the commercial act is also the market act. The nature of trade is "exchanging what you have, buying what you need." The basis of trade relations is the principle of voluntariness. If farmers do not see their benefit, they do not want to sell the product so the purchase behavior cannot be realized. If traders scramble to purchase, the farmers are the beneficiaries? Thirdly, market demand affects production scale and vice versa. Traders and farmers are affected by market rules. Has anyone mentioned the example that Chinese merchants signed contracts to purchase agricultural products with farmers in Market fluctuations affect not only benefit of the farmers but also the interests of traders. In trade, no one can guarantee that I just gain, not lose. Of course in the market economy, the farmers are always in a relatively passive position and their interests need to be protected. I myself am the son of a farmer, so I thoroughly understand the hardness and difficulties of farmers. I sincerely wish Vietnamese farmers to early get out of poverty, to have wealthier life and happiness. Currently the proportion of import and export between the two countries is severely imbalance. I often tell Vietnamese friends that we cannot only see the trade deficit figures from Actually, the products imported from Last April, the Chinese Ministry of Commerce and the Vietnamese Ministry of Industry and Trade signed the "Memorandum of bilateral cooperation in the field of trade in agricultural products." This memorandum is expected to help Duy Chien |
↧
Article 8
BUSINESS IN BRIEF 27/3 VHG to delist if restructuring fails Beleaguered Viet Han Investment and Production (VHG) would delist if its restructuring plan failed, according to the company's recent annual meeting. The board of directors would assess the possibility of success of the restructure and, at the same time, choose a reasonable time to delist, if necessary, so the maximum benefits to shareholders would be assured. The company has 25 million shares listed on the HCM City Stock Exchange. Under the restructuring plan, VHG will probably be split, merged or establish new subsidiaries. It will have to transfer assets and shares in subsidiaries and associates to other entities. The company will also settle and liquidate its projects, such as D'Evelyn Tower Da Nang, D'Evelyn Beach Quang Last year, it planned to established a VND100 billion (US$4.7 million) limited liability company to manage the rubber project. Previously in 2011, the company invested 65 per cent in a VND100 billion partnership in the D'Evelyn Beach Quang Of the above projects, the most expensive was D'evelyn Tower Da Nang, which was expected to cost the company VND850 billion ($40.4 million). It was kicked off in 2010 and VHG has poured in VND108 billion ($5.1 million) so far. Prior to the annual shareholder meeting, the company had said it hoped the transfer of its projects and assets would account for 50 per cent of this year's revenue. VHG has targeted a revenue of just VND200 billion ($9.5 million) for 2013. It also expects losses would narrow to VND20 billion ($952,300) compared to VND36 billion ($1.7 million) last year. VHG shares closed yesterday at the ceiling price of VND4,000 ($0.19). US steel producers make dumping claim After welded steel pipes and steel wire garment hangers, now welded stainless pressure pipe from The Viet Nam Competition Authority under the Ministry of Industry and Trade on Monday said three US stainless pipe producers - Bristol Metals LP, Felker Brothers Corp and Outokumpu Stainless Pipe Inc- have filed a trade petition with the US International Trade Commission (USITC) and the US Commerce Department (DOC) seeking to impose anti-dumping duties against welded stainless pressure pipe from Malaysia, Thailand and Viet Nam. Last year, imports of steel pipe from The petition alleges dumping margins of 15 to 17 per cent for The ITC will hold a hearing on June 6 and make a preliminary determination by July 1, Bristol Metals said. The action marks the third steel-related trade case against Vietnamese steel products filed in the In the past two years, the domestic steel industry faced five anti-dumping lawsuits and two anti-subsidy ones from the However, US ITC announced late last year that after investigation, it found welded carbon-quality steel pipes imported from According to Tran Tuan Nghiep, director of Huu Lien Asia Corporation, a defendant in last year's lawsuit against Viet Nam welded carbon-quality steel pipes, price competition in the steel market is fierce and if Vietnamese steel is subject to more and more anti-dumping and anti-subsidy tariffs, it could lose an important market. Bio-fuel system installation to be sped up Deputy minister of Industry and Trade Le Duong Quang has asked petrol producers and agencies to speed up the distribution of E5 bio-fuel to meet a deadline set by the Prime Minister. According to the PM Decision 53/2012/QD-TTg, the E5 bio-fuel (traditional petrol mixed with 5 per cent ethanol) will be rolled out on national scale by the end of 2015. Seven cities and provinces including Ha Noi, central Deputy director of the ministry's Science and Technology Department Nguyen Phu Cuong said that except for PetroVietnam Corporation (PVN) and Sai Gon Petro, most petrol and oil enterprises had not actively developed distribution. Deputy general director Nguyen Sinh Khang from PVN said the Government had only issued preferential policies to encourage bio-fuel production but had not supported a distribution system. In fact, only 175 out of 12,000 petrol stations nationwide sell E5 bio-fuel. These are owned by PVN and Sai Gon Petro. Meanwhile, Petrolimex, a petrol supplier accounting for 50 per cent of the domestic market share, has made no investment. Explaining the tardiness, a representative from Petrolimex said the corporation was studying investment plans to choose the most efficient because investment in bio-fuel distribution required a huge amount of money. Despite the tardiness by petrol producers, deputy minister Quang told producers and relevant agencies to enhance co-operation and jointly tackle difficulties. He said the deadline should not be extended because national energy security and the livelihoods of cassava growers all depended on popularising bio fuel. He ordered companies to detail their investment plans and submit them to the ministry before June 5. The deputy minister also asked the Domestic Market Department to study petrol trading management to create favourable conditions for bio-fuel production and distribution. PVN representative also asked the Government and Ministry of Finance to exempt import taxes imposed on equipment for fuel storage, transportation and mixture. It also asked the Government to reduce or exempt bio fuel from environment taxes because it was an environmentally friendly product. To promote the consumption of E5 bio-fuel, local producers suggested that people's awareness of benefits of the product should be raised through a national programme. Power plant contract to be completed Once the BOT is signed, an investment licence should be approved in the second quarter of 2014, with construction work scheduled to start in August 2015 and the plant's opening set for October 2019. The project was initially proposed in 2006 and has a planned capacity of 2,640MW. The plant will be located in the Van Phong Economic Zone in central coastal Covering an area of more than 350 ha, the project would cost more than US$2 billion. Nguyen Chien Thang, chairman of the provincial People's Committee told the Vietnam Investment Review that work was delayed due to issues related to the land hire contract with the province and negotiations for an agreement on how much Electricity of Viet Nam (EVN) will pay for the power supplies. Thang said the province committed to ensuring a favourable land hire contract for the project's investors. However, the Japanese group was asked to provide a specific timetable on the completion of the project to help avoiding delays. The province has spent about VND150 billion ($7.2 million) on land compensation and site clearance for the project since 2010. The plant would supply power to EVN, using coal imported from The BOT power plant would comprise two 660 MW boiler turbine generator units. Once licensed, the plant would be the second Sumitomo-invested power project in It's cool to be green: consumers Green activities are all the rage in The growing public awareness about green issues, however, has not occurred without support from the city government. In fact, the city authority has been a leader in launching green consumption campaigns, with the first organised in 2010. The annual event, which attracts nearly 2,000 volunteers, is only one of many green activities that the city has been promoting in recent years. Nguyen Thi Hong, vice chairwoman of the city's People's Committee, said the city had urged consumers to buy products from companies that follow environmental regulations and produce safe, healthy products. To improve their ecological footprint, many companies have begun to use renewable energy and power-saving devices, and to produce more organic and natural products. Ho Quynh Hung, chairman of Dien Quang Lamp Joint Stock Company, said that local consumers would boycott companies that did not make environmentally friendly products. To meet demand, Dien Quang has updated its technology and products as well as its production methods, he said. The effort has extended beyond the business sector, with several campaigns directed at youth. Bayer The book notes that "superheroes are not necessarily powerful people, but those people who do small things to make great things every day". In the industrial sector, the city is taking steps to classify solid waste at the source, according to the Department of Natural Resources and Environment. A number of local supermarkets, trade centres and several residential areas are required to separate solid waste so that more of it could be recycled. Recycling also was part of a roofing project for the Ho Phuong Kindergarten in Binh Chanh District. The organiser of Earth Hour 2013, in collaboration with Tetra Pak Viet EuroCham kicks off Green Biz activities This year's Green Biz activities organised by EuroCham include field trips for students to learn about sustainable business practices and the shift from a "brown to green economy", the business chamber has announced. Green-Biz activities, which will take place from May to September, will focus on real, practical challenges and outcomes, according to Preben Hjortland, EuroCham's chairman. The main activities and conference for Green Biz 2013 will be held in Ha Noi from September 19-20. It will bring together stakeholders who will give presentations and take part in debates and network-sharing events. Woodwork processors cut imports Many companies in the local woodwork industry have halved the volumes of imported timber to minimise their inventories and ease pressure for bank loans. Due to economic woes, woodwork processors were now importing input materials every quarter or small batches in line with each order instead of importing enough for a whole year's production. This was stated by Huynh Quang Thanh, chairman of the Binh Duong Wood Processing Association and director of Hiep Long Woodwork Company, while speaking with the Saigon Times Online. The gloomy situation in the first four months of the year is largely responsible for slowing down the imports. Many enterprises failed to get bank loans while others who did were charged with high lending rates. This means members in the industry have had to scale down imports of input materials to avoid paying huge interest sums in the current tough business conditions, added Thanh. He noticed numerous members had slashed material imports by over 50 per cent against the same period last year. According to the director of a woodwork exporting company in In fact, owing to difficult business, input material imports of the whole industry have slumped in recent years as processors seek to buy more materials locally, the Viet Nam Timber and Forest Product Association (Vietforest) reports. For instance, imported processed materials for the woodwork industry from 2005 to 2010 accounted for up to 80-90 per cent of the total. However, this fell to only 66 per cent in 2012. Latest data from the Ministry of Industry and Trade in the first three months of the year shows that In March alone, the import value of this kind of product reached $113.2 million, tumbling 14.43 per cent from the same period last year. Real estate body tips revival The Viet Nam Real Estate Association (VNREA) will continue to help its members overcome difficulties, advise and seek policy support from the Government, and promote market transparency, officials said yesterday. Speaking on the sidelines of an exhibition on "Housing for True Demand," which is part of a series of events celebrating the association's 10th anniversary, property developers said that in the near future, businesses are likely to focus on developing social and low-income housing, taking advantage of preferential policies in place for this segment. The three-day exhibition is being attended by many big property firms including Hoang Quan, Thu Duc House, Thanh Binh and the Housing and Urban Development Corporation. Association officials said the event would help property developers nationwide popularise their projects and attract domestic as well as foreign investment. It would also give property firms an opportunity to promote their brand and prospective customers to make choices based on quality information. Meanwhile, developers can speed up sales and mobilise capital for ongoing or new projects, the officials said. The exhibition also offers the possibility of linking enterprises with banks in order to improve credit access for both enterprises and prospective home buyers, helping the stagnant property market move ahead, they added. A grand ceremony with the attendance of Deputy Prime Minister Hoang Trung Hai and other dignitaries including the Governor of the State Bank of Viet Nam Nguyen Van Binh and senior officials of the Ministry of Construction and the Later in the day, officials of the Construction Ministry, the central bank, relevant agencies, industry insiders and experts will gather at a seminar that will seek solutions for solving the problem of unsold property inventory under the Government's Resolution 02/NQ-CP. The seminar will also focus on ongoing challenges as well as opportunities. VNREA deputy chairman Truong Anh Tuan, who is also chairman of the Hoang Quan Real Estate Corporation, said yesterday that many businesses will now focus on developing social and low cost housing to take full advantage of preferential policies for this segment, including reductions in VAT and corporate income tax, preferential interest rates and other measures. Following the Government resolution, his company will convert four commercial housing projects in VNREA officials said that at the end of the seminar, several agreements will be signed among leading credit institutions like Agribank, Trustbank, and BIDV to implement the resolution that seeks to revive the property market. Total housing space in S Korean Aerospace officials arrive Representatives from Korean Aerospace Industries in According to local newspaper Dau tu (Investment), the board of the The size of the factory and investment has not been revealed. If realised, this will be the second factory to manufacture spare parts for airplanes in the country after MHI Aerospace Viet Nam Ltd Co invested by Japan's Mitsubishi group.- Government bond rates continue to fall The yield on Government two-year bonds declined 33 points to reach a record low of 6.8 per cent on Tuesday, Ha Noi Stock Exchange announced. Yields on other bonds also had significant falls. Specifically, three-year and five-year bond yields reduced by 27 and 21 points to 7.23 per cent and 8.23 per cent. Bonds worth a total of VND5 trillion (US$238 million) found buyers on Tuesday. Meanwhile, the yield on 28-day term treasury bills (T-bills) on Tuesday continued to decrease 20 points to 2.5 per cent a year. This follows a fall of 2.7 per cent a day earlier. The State Bank of It was the first issuance of 28-day T-bills after two months of interruption. On Monday, the coupon rate of 52-week T-bills dropped 47 basis points to 6.03 per cent. A banking official told website ttvn.vn that interest rates remained on a downward trend due to the central bank's recent operational policies. In addition, another two major factors affected rates. First, the volume of bonds and T-bills maturing in the last two weeks of this month amounted to more than VND38 trillion ($1.8 billion), creating a cash surplus, which forced credit institutions to reinvest. Second, Vietinbank (CTG) has collected nearly $750 million from the sale of its shares (more than 644 million units) to the Japanese Bank of Tokyo Mitsubishi UFJ Ltd. Property investor seeks partners Pacific Property and Infrastructure Development Joint Stock Company (PPI) is calling for investment into its two property projects in The projects are the riverside complex Pham Duc Tan, chairman of PPI, said land had been cleared for the projects and investment procedures finished, but due to difficulties in the property market and difficulty in assessing capital sources, the firm was incapable of carrying out those projects on its own. Therefore, PPI had called for investors who had financial capabilities and wanted to co-operate with PPI to develop them. Partners can choose suitable cooperation models, but the prior solution is to set up a joint venture, Tan said.- Work begins on tourism complex Delta-Valley Binh Thuan Co Ltd has started work on the US$400 million Thung Lung Dai Duong ( The project covers a total area of about 985ha in Tien Thanh commune and will provide entertainment spaces, parks, golf courses, restaurants, hotels, villas and trade complexes. It is expected to create 3,000 jobs when open. Suppliers attend food safety course Thousands of customers and food suppliers are learning about food safety at a mobile demonstration facility set up at Metro Cash&Carry Viet Nam stores in The demo facility will stay for two weeks at each of Metro's stores and then will tour around the country. It is expected that 30,000 customers, employees, suppliers and students will take part in the training from now until 2014. Launched last year, the training sessions are organised by the German Investment and Development Agency, Metro Cash&Carry Viet Nam, and Assist, a non-profit organisation.- Malaysia Airlines is offering package tours for three days and two nights to travellers from Each tour covers a two-way economy class flights, airport tax and transfer and accommodation at Equatorial Hotel and daily breakfast. The airline operates three flights a day to Economy class and business class tickets for its flights from Iron ore needed for local production The Viet Nam Steel Association (VSA) recently proposed that the export of iron ore be halted in order to ensure the adequacy of raw materials available for domestic production. The association said that several furnaces had been forced to stop due to a shortage of ore. There are 14 furnaces in the country, with a total production capacity of 3.8 million tonnes of cast iron per year. However, output last year reached only 500,000 tonnes. Next year the demand for iron ore from the Viet Nam Steel Corporation alone is estimated at 2.2 million tonnes, about 820,000 tonnes of which will need to be bought from outside sources. In response to the VSA's proposal, the Ministry of Industry and Trade said that the export of iron ore was aimed at clearing high inventories and tackling difficulties facing enterprises, according the Viet Nam Economic Times newspaper. Due to the country's current economic difficulties, the Government deemed the policy of allowing the export of iron ore to be appropriate. The ministry said that many furnace building projects in the country have fallen behind schedule, resulting in an imbalance between mining output and consumption capacity in the domestic market. They added that if domestic steel producers committed to collecting all inventories of iron ore in the country, then the exporting would be stopped. Currently, iron ore from mines in over ten provinces are already reserved for domestic production. To limit the export of iron ore, the export tax has been increased to 40 per cent. HCM City sees drastic drop in FDI According to the Ho Chi Minh City Statistics Department, there were 130 foreign direct investment projects licensed until May 15 in the City with a total registered capital of US$158 million, of which chartered capital was at $105.1 million. The figures also showed that 40 projects increased an additional investment of $204.1 million. Thus, the total newly registered and additional investment capital touched $362.1 million, much lower than that of $698.2 million in the same period last year. Property price drops heavily A report on property price index by Savills Average house price in Meanwhile, Doubts on joint-ventures with FDI companies A shortage of capital, poor technology, unprofessional administration, along with market difficulties have urged local firms to establish joint ventures with foreign companies to resolve these problem, however, most firms mainly focus on how to escape difficulties without calculating on keeping ownership. According to income statement of 2012 of Ninh Van Bay Travel Real Estate Joint Stock Company, although the company revenues nearly hit VND205.96 billion, up 117 percent compared to the previous year, its margin was minus, as the economic slump has put some projects of the company behind schedule. This is the second consecutive year this company has reported a loss. Recently, Hoang Anh Dung, CEO of Ninh Van Bay, cheerfully shared that his company had found a lifebuoy in Recapital Investment Pte.Ltd. The Singapore partner bought 35.87 percent stake in Ninh Van Bay for VND225 billion for the latter to pay for bank interest; return its loan of US$2 million to foreign partners; spend VND10 billion for Six Saigon River projects; VND32 billion for Emeralda Hoi An project; and VND140 billion for Emeralda Ninh Binh to finish construction for this resort to officially open in May. Cooperating with foreign companies is currently a common trend for many Vietnamese companies amid this present financial crunch, poor technology, and poor resistance against economic recession. Firms said that even when restructuring, their operations hardly improved but by associating with foreign companies, their problems will be resolved immediately. However, in these business deals, instead of caring about limiting ownership ratio of foreign companies to keep decision-making powers for themselves, firms were optimistic of the handshake that will help them not to face with difficulties but increase potential to expand market share to their partners’ markets. Therefore, in past few years, there were many market-shaking business deals, such as the largest cement cooperation in South East Asia, Semen Gresik, of Indonesia bought 70 percent stake of Thang Long Cement Joint Stock Company; Thailand’s Siam Cement Group purchased 85 percent stake of tile producer Prime Group at a cost of nearly VND5 trillion; India’s Fortis Healthcare International bought 65 percent stake of Hoan My Medical Group; Korea’s Lotte Group bought all stake of Minh Van Company and Unicharm Co., Ltd, and owned upto 95 percent of chartered capital of Diana Vietnam Joint Stock Company. With support from foreign partners, local firms have been over joyous because they can increase the company’s chartered capital and solve imminent problems. Nevertheless, experts and associations concerned that foreign companies will take over market share in manufacturing industry, causing bad effect to the country’s socioeconomic development. According to Vietnam Association for Building Materials, amid the context that the scheme for cement industry has been broken and has redundant production, instead of restructuring cement companies to form bigger cement complexes to increase competitiveness and gain foothold in local market, some firms sold almost of their stakes to foreign businesses. At this moment, firms only see imminent benefits. However, in the long term, when foreign companies take over local ones, it will cause serious effects to both environment and border security as each cement plant connects closely with national security. Moreover, many projects were built on rare limestone area, and if sold to foreign companies, national resources will be lost. Meanwhile, Truong Phu Chien, CEO of Bibica Joint Stock Company, frankly admitted his company’s mistake in cooperating with Lotte for five years as the latter has been showing intentions to turn Bibica into its subsidiary. According to Mr. Chien, when establishing joint-venture with foreign companies, local companies should not sell more than 34 percent stake to prevent their companies from foreignization. Earlier, when asking Lotte to become its partner, Bibica longed for comprehensive cooperation on management, technology, technique, and import and export. However, after coordinating for five years, Lotte started to demand Bibica add its name before the latter’s name. Experts said that, buying Bibica’s stake was the shortest way for Lotte to enter Vietnamese confectionery market without spending money to build plants. Lotte will simply produce at Bibica Mien Dong factory and exploit distribution network of more than 20,000 stores built by Bibica. However, as Lotte’s stake in Bibica merely touched 38 percent, Bibica still holds decision-making powers. The latter is planning not to continue to cooperate with Lotte when the contract ends this year. As for companies who sold more than 40 percent stake to foreign companies, the exit narrowed. In future, there will be more Vietnamese companies who lose ownership and become just hired employees in their own companies. State Audit reveals wrongdoings in the banking system A report from the State Audit of Vietnam has disclosed various wrongdoings of the banking system last year, including interest rates in the interbank market that were higher than those of the black market. Despite the efforts of the State Bank of Several credit institutions have violated regulations on refinancing services but have not been dealt with. For example, North Asia Bank and Great Trust Bank were found to have committed violations in the first nine months 2011, but the SBV only established a supervisor team in late November 2011. SBV also showed lax management over the interbank market which resulted in ludicrously high interest rates. Though the regulated annual rate was 14%, several transactions in October 2011 were recorded as having annual interest rates of up to 30%, while some transactions in November saw rates as high as 37.5%. The report also pointed out that some banks have not followed proper procedures when giving loans, including the Bank for Investment and Development of Vietnam (BIDV) and Mekong Housing Bank (MHB). These two banks still incur high rate of bad debt; 2.96% at BIDV and 2.49% at MHB. Vietnam Banks for Social Policies (VBSP) also did not follow proper lending procedures for disadvantaged people, and gave away benefits to the wrong customers. The VBSP's capital for preferential lending activities requested by the state has also been widely criticised for its activities. NA deputies propose removal of spending cap on advertising Many National Assembly (NA) deputies proposed removing the cap on corporate advertising funding instead of increasing it to 15% of corporate expenses from current 10%. The NA has recently held a working session to discuss the draft amended Law on Corporate Income Tax which suggests an increase in the cap to 15%. However, a number of NA deputies disagreed for various reasons. Deputy Truong Trong Nghia, from HCM City, said lawmakers should remove the cap because, while 10% or 15% may be a reasonable amount for larger companies, smaller ones may have to spend from 20%-40% of their budgets on advertising. Deputy Nguyen Ngoc Hoa, also from Some deputies suggested calculating the cap based on the revenues of enterprises instead of on their total expenses as is done currently in order to ensure transparency. “Corporate advertising and promotion programmes have fostered the development of the advertising industry which has contributed to the state budget as it is subject to several types of taxes, including corporate income taxe,” Hoa commented. Sharing the same view, deputy Nguyen Thi Nguyet Huong, from “We do suggest removing the cap. If we have no better choices and are compelled to continue to apply a cap, the regulation should be amended in accordance with international norms,” said deputy Pham Huy Hung from Deputy Tran Quang Chieu, from Nam Dinh Province, said the proposed cap at 15% is unreasonable, as it may be sustainable for foreign companies but several small domestic firms may not be able to spend that much. Meanwhile, Deputy Prime Minister, Vu Van Ninh, said the removal of the cap has the potential to create favourable conditions for foreign companies to take advantage and increase the prices of their goods and services. A recent survey by the NA’s Committee for Finance and Budget showed that the majority of members of the committee supported the increase in the cap to 15%. They also proposed supplementing the draft law with a roadmap towards the eventual removal of the cap in accordance with international regulations so as to attract investment. Foreigners may have more options for owning property in Vietnam Foreign individuals and organisations may be allowed to buy villas and detached houses in This is among the revisions of the Law on Housing proposed by the Ministry of Construction. The ministry plans to submit the revisions to the National Assembly for approval. Under the ministry’s recommendations, Vietnamese people who live in foreign countries will be granted with land ownership right to build houses, just as those living in the country. Meanwhile, foreign-invested enterprises will be allowed to re-lease property. They would also be able to buy and own working offices in According to Deputy Minister of Construction, Nguyen Tran The Ministry of Construction has also asked provincial People’s Committee to outline a housing development plan for one year, five years and a long-term plan to prepare necessary resources while avoiding massive investment. In 2008, the National Assembly issued Resolution 19, which allowed foreign individuals to buy accommodation in Under the resolution, foreigners who directly invest in the country or were employed by Vietnamese firms as managers were allowed to buy apartments. The Mekong Delta’s total rice output is expected to reach 9.3 million tonnes in the 2013 summer-autumn crop, said the Ministry of Agriculture and Rural Development (MARD) at a conference in Can Tho city on May 23. The region also targets more than 4.6 million tonnes of husked rice, including 3.1 million tonnes for trade, it said. According to the ministry, the country’s rice bowl has more than 1.8 hectares for the ongoing summer-autumn rice crop, representing a decrease of over 6,400 hectares. By May 8, more than 1.1 million hectares have been filled, accounting for over 62 percent of the plan. In an effort to stabilise rice price and ensure minimum profits for farmers, the MARD has mapped out a plan on 2013 summer-autumn crop rice reserves to be submitted to the Prime Minister. Under the plan, the ministry proposed purchasing 1 million tonnes of rice for reserves, or 30 percent of total output reaped in the 2013 summer-autumn crop, within two months, beginning from June 15. According to the Vietnam Food Association, by May 16, The country signed contracts to export 4.42 million tonnes of rice, of which nearly 2.4 million tonnes have been handed over to customers. Meanwhile, the rice volume for domestic consumption is expected to hit 8 million tonnes in 2013, excluding an inventory of 787,000 tonnes from the previous year. The MARD said that Vietnamese rice will continue facing difficulties in 2013 as import demands of several Asian countries are forecast to sharply fall and increasing competitions among exporters, with newly emerging rivals such as Huge benefits from licenced software usage A new Software Alliance BSA and the business school INSEAD study has found that increasing use of properly licenced software delivers huge economic benefits. The study confirms that increasing use of licenced software corresponds to substantial positive gains in gross domestic product (GDP), and that the economic stimulus effect of properly licensed software is significantly greater than that of pirated software. Accordingly, properly licenced software would deliver $50 million in additional economic value as a 1 per cent increase in use of licensed software would generate an estimated $87 million in national production, compared to $37 million from a similar increase in pirated software. “This study confirms that licensed software is not just good for firms — it is an important driver of national economic growth. Government, law enforcement, and industry in The study also finds that each additional dollar invested in properly licensed software has an estimated return on investment (ROI) of $94 compared to a $9 return from each additional dollar worth of pirated software put into use. Another finding was that increasing licenced software use globally by 1 per cent would inject an estimated $73 billion into the world economy, compared to $20 billion from pirated software — a difference of $53 billion. Besides, on a dollar-for-dollar basis, the return on investment from using properly licensed software is greatest in developing economies — $437 in extra GDP, on average. “Previous studies have shown that value-added services delivered with properly licensed software help firms reduce costs and increase their productivity. This report goes one step further to ascertain the impact of software use on national production,” said Eduardo Rodriguez-Montemayor, a senior research fellow at INSEAD eLab The study also highlights the need for governments and enterprises to take actions if they want to embrace the economic opportunities presented by licensed software use. The study entitled Competitive Advantage: The Economic Impact of Properly Licensed Software is a groundbreaking analysis that draws on data from 95 economies – of which 15 are from the Asia-Pacific – to demonstrate the benefits to national economies of using fully licenced software. 500 businesses take part in The businesses operate in the fields of food, beverage, essential goods, fashion, garments and textiles, footwear, household devices, interior decoration, arts and handicrafts, automobile, motorbike, hotel and restaurant service. The capital city plans to spend 3 billion VND, including about 1.2 billion VND from the city budget, on the promotional activities. Participating businesses will sell goods at golden places around As a preparation for the promotion month, a programme to learn about the Phu Quoc Economic Zone established The Phu Quoc Economic Zone was officially established in southern Kien Giang province on May 22, according to the Prime Minister’s Decision No.31/2013/QĐ-TTg. The Decision will take effect on July 10, 2013, turning Phu Quoc into a 59,000 hectare coastal economic zone (EZ). The EZ will include Phu Quoc island district; Duong Dong and An Thoi towns; and the eight communes of Cua Can, Ganh Dau, Bai Thom, Ham Ninh, Cua Duong, Duong To, Tho Chau and Hon Thom. It will also comprise a tarriff zone and a non-tariff zone that includes An Thoi port and Phu Quoc airport. Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR |
↧
Article 7
Locals debate cost of Nick Vujicic’s Viet Toan  Nick Vujicic, the renowned limbless Australian, said goodbye to Hoa Sen Group, a local sheet metal producer, confirmed it had channeled VND36 billion (US$1.7 million) into the organization of Vujicic’s speeches and other related events to encourage and inspire young Vietnamese and those with disabilities in the Southeast Asian nation, where GDP per capita has just topped $1,600. And locals are divided in their opinions on this giant amount of money, with opponents apparently prevailing over their rivals. What a waste! Dinh Ngoc Tuy, a reader, told Tuoi Tre that spending such a big amount on Vujicic was as “xenomaniac” as going to the only Starbucks outlet here, referring to a trend of young Vietnamese flocking to the U.S. coffee chain store in Ho Chi Minh City. “I tip my hat to him [Nick Vujicic] but there are scores of people like him in Thu Thuy, another reader, said that the group should have donated the money to charities instead. “It would have been used to do a lot of things for the disabled in the country,” Thuy said, adding that she does not admire Vujicic any longer after learning of the gigantic cost of his visit. “It was such a waste to splurge as much as VND36 billion on this occasion”, Nguyen Hung said in a comment on Tuoi Tre’s news website. “Vietnamese people with disabilities would be much more inspired if the spending had been allocated to them”, Hung argued. “Hoa Sen did it for their own benefit, as official figures show they have added VND180 billion ($8.6 million) to their assets thanks to a rise in the firm’s stock price resulting from Vujicic's visit over the last few days,” he remarked. It was ridiculous to pay VND36 billion to encourage handicapped people, while the sponsor gave a mere VND40 million ($1,905) in cash to a group of them at one of Vujicic’s presentations, Thanh Binh said in an email sent to Tuoi Tre. To be precise, Hoa Sen presented VND20 million ($952) to each of the 24 disabled people invited to a speech by the Australian in Nguyen Thi Ut commented on tuoitre.vn that creating inspiration this way is unnecessary and inadvisable. “Why didn’t we dedicate the money to honoring and helping Vujicic’s Vietnamese peers instead?”, Ut wondered. There is no need to spend VND36 billion, as It’s worth it! On the other side of the argument, one reader said that Hoa Sen should be thanked for bringing the strong-willed man here to share his inspiring lessons with locals and give them more strength. It was good to invite Vujicic to The special man has created more courage and faith in those people who attended his presentations, so “it’s worth it,” reader Nguyen Phu Qui said. “Thank you, Nick Vujicic!” he exclaimed. “It was never a waste of money to bring in Vujicic, as young Vietnamese, many of whom are so selfish and indifferent to social issues at the moment, should listen to him and feel that they are lucky to have a normal body and thus should live more responsibly”, Xanh Sam said passionately in a comment.
|
↧
Article 6
Businesses live in the fear for electricity price increases VietNamNet Bridge – Businesses have been warned that the electricity price would be raised one or two times at least in 2013.
From April 20, 2013, the price of coal to be sold to power plants would be equal to 100 percent of the 2011’s coal production cost and to 84 percent of the 2013’s cost. Deputy General Director of the Electricity of Vietnam (EVN) -- Dinh Quang Tri, said EVN still has not figured out in details the electricity price adjustments following the coal price increase. Tri said the electricity price not only depends on the coal price, but also on many other factors, including the input fuel prices, the electricity output structure and the dong/dollar exchange rate. “We would reconsider the pricing and we would make proposals on the electricity price adjustments to the Ministry of Industry and Trade, if necessary. But to date, no price adjustment has been made,” Tri said. Dang Huy Cuong from the Ministry of Industry and Trade has confirmed that the ministry is still awaiting the report from EVN on the electricity production costs after the coal price increases, and that any decision on the electricity price adjustments would be made only after considering the situation. Meanwhile, experts said the statements by EVN and the Ministry of Industry and Trade just aim to reassure the public and prepare people for the new electricity prices. Businesses think that the electricity price increase is inevitable, sooner or later. Therefore, they have been living in the fear for the price increase one day. People also have whispered in each others’ ears that EVN has the golden opportunity to raise the electricity price now, when the consumer price index (CPI) increases slowly. If it raises the price now, it would be able to avoid the violent criticism from the public which occurred any times, when the price increases were announced. The pay for coal accounts for 70 percent of the production cost of the thermopower plants. Meanwhile, EVN uses approximately 100 million kwh per day from coal run power plants. It is estimated that ¼ of the electricity output comes from coal run power plants. Therefore, the coal price increase will certainly influence the electricity price. EVN now has bigger power to adjust the electricity price. Dr. Nguyen Minh Phong, a well-known economist, said under the current laws, when the input costs increase by five percent, EVN will have the right to adjust the electricity price. If The director of a steel mill in the north said steel manufacturers are now at the point of death after the FO price increased by VND807 per kilo. If the electricity price also increases, they would be pushed against the wall. The director said the electricity bill accounts for 6 percent of the cost of ingot steel production and 1 percent of the production of other steel products. Cement manufacturers have also been worried stiff about the possible electricity price increase. The manufacturers now have to pay VND2.300 per kwh, and they need 100 kwh to make one ton of cement, worth VND230,000. If the electricity price increases by five percent, one ton of cement would be VND13,-15,000 more expensive. |
↧
↧
Article 5
Vietnamese blogger arrested for ‘abusing democratic freedoms’
Investigators from the Vietnamese Ministry of Public Security arrested a blogger on Sunday on charges of “abusing democratic freedoms to infringe upon the interests of the State, the legitimate rights and interests of organizations and/or citizens.” Forty-nine year old Truong Duy Nhat , a retired journalist, is known for his blog Mot goc nhin khac, translated as "Another point of view." The blog has not been accessible since his detainment. Nhat used to be a journalist with the Cong an Quang Nam Da Nang (Quang Nam Da Nang Police) newspaper and then with the Dai Doan Ket (Great Solidarity) newspaper. He was arrested at his home in Da Nang, the investigators said. He attracted widespread attention in the Vietnamese blogosphere when he declared in early 2011 he was retiring from journalism and turning to blogging. His entries, offering an alternative perspective as mentioned in the title, often attracted heated debate. Investigators said Nhat is likely to face charges under Article 258 of the Penal Code, which says: “Those who abuse the rights to freedom of speech, freedom of press, freedom of belief, religion, assembly, association and other democratic freedoms to infringe upon the interests of the State, the legitimate rights and interests of organizations and/or citizens, shall be subject to warning, non-custodial reform for up to three years or a prison term of between six months and three years.” By T.U, Thanh Nien News |
↧
Article 4
Hanoi hotlines help protect foreign tourists
The Hanoi Department of Culture, Sports and Tourism plans to launch two hotlines to clamp down on crime against foreign tourists. The hotlines will run around the clock. Phone operators will notify relevant authorities of any incidents reported by tourists so that they can be promptly settled. Additionally, hotlines run by the municipal Police, Transport Department and Taxi Association will also help detect and deal with any violations, especially those related to transport, service quality and taxi fares. The move comes as the municipal tourism sector discovered that tourists have been the target of theft, fraud and overcharging, especially in Dong Da, Hoan Kiem and Ba Dinh districts during the March 30 – May 1 holidays, which has tarnished the image of the capital city in the eyes of foreigners. Recently, people found breaching laws in densely populated tourist areas have been fined, but such negative occurrences remain. Source: VNA |
↧
Article 3
Vietnam reviews visa exemption for seven countries  Foreign tourists visit an orchard in the Mekong Delta. Photo: Doan Loan Deputy Prime Minister Hoang Trung Hai has instructed relevant agencies to report about the impact of the free visas visitors from seven countries have been enjoying before the government decides whether it will continue with the policy. He instructed the Ministry of Foreign Affairs and Ministry of Culture, Sports and Tourism to review the policy’s political, economic and security impacts and submit its findings to the government, VnExpress reported. Between 2004 and 2009 Vietnam unilaterally waived visas for single-entry visits of up to 15 days for Danish, Finnish, Japanese, Norwegian, Russian, South Korean, and Swedish visitors. At a recent meeting of the State Steering Committee on Tourism, many officials urged Vietnam to not only continue the exemption, but extend the length of stay to 30 days. Earlier in April, the Ministry of Foreign Affairs criticized the Vietnam National Administration of Tourism (VNAT) for failing to take advantage of the policy to promote tourism, saying the underused policy had forced it to accept losses of US$50 million annually. After that, VNAT proposed that the government continue the visa exemption because otherwise, Vietnam would become less competitive, as several other countries in the region waive visa fees to promote tourism. Vu The Binh, VNAT deputy chairman, said nothing should be done to dissuade tourists from South Korea, Russia and Japan from coming to Vietnam. Last year, revenue from those tourists was $2 billion, of which the government collected $200 million in VAT. Vietnam is not a very attractive tourism destination in the region and a visa requirement would worsen the situation, he said. Thanh Nien News |
↧
Article 2
Agro-forestry, fishery exports earn 10.7 billion USD Rice loading at Dong Nai Port. Illustrative image (Source: VNA) The decrease was due to difficulties in both markets and prices, which affected major agricultural and fishery products, according to MARD. In the Jan-May period, the country shipped abroad 2.86 million tonnes of rice, bringing home 1.26 billion USD, representing decreases of 3 percent in volume and 8 percent in value year-on-year. Coffee businesses delivered 697,000 tonnes to foreign importers, down over 23 percent year on year, for an earning of 1.49 billion USD, a drop of nearly 22 percent. Meanwhile, tea export also saw a 5.6 percent decrease in volume with 48,000 tonnes shipped abroad, but enjoyed a 1.3 percent rise in value to 73 million USD thanks to higher price. Among agricultural products, cashew and pepper recorded the most impressive growth in both volume and value. Pepper export volume rose 13.9 percent to 68,000 tonnes, earning 446 million USD, up 9.6 percent. At the same time, the country earned 2 billion USD from exporting wood and wooden products, a surge of 10.4 percent. Except for To the contrary, seafood export saw a 5.6 percent decrease in the first five months of 2013, with 2.2 billion USD. In the situation, MARD has directed businesses to further improve their products’ quality, while expanding to new markets to further step up exports of key agro-forestry and fishery products in the next months.-VNA |
↧
↧
Article 1
High quality farm produce unsalable, farmers get exhausted Farmers spend big money and efforts to grow high quality farm produce which meet international standards, but the products have been refused, or sold at low prices.
The My Thanh Cooperative in Cai Lay district in Tien Giang province has given up farming rice in accordance with GlobalGAP. This shows the “bitterness” of the high quality farm produce in the Mekong Delta. High quality farm produce program comes to deadlock My Thanh Cooperative is not alone. The farmers in the provinces of An Giang, Kien Giang and Can Tho City felt so disappointed when their Jasmine scented rice has been equated with the low quality rice IR50404. The high quality rice has been left unsalable because of the sharp increase in the area of fragrant rice growing area. Meanwhile, enterprises refused to purchase the rice at high prices, reasoning the impurities in the products. According to Nguyen Minh Nghia, Deputy Head of the Tan Hiep district’s Agriculture Sub-department in Kien Giang province, farmers have got angry because they were advised to grow high quality rice, but the rice has been unsalable. Meanwhile, the farmers had to pay much higher to grow the rice varieties and face higher risks. High quality rice varieties, including Jasmine and long grain rice, have been grown on up to 70 percent of the total 300,439 hectares of the winter-spring rice fields. Nguyen Quang Binh from the Kien Giang provincial Industry and Trade Department has confirmed that export companies only collect low quality products to export to the orders placed by the importers. Exporters have complained that it’s very difficult to find buyers at this moment. Dr. Le Van Banh, Head of the Mekong Delta Rice Institute, commented that farmers are always put at a disadvantage in the rice production and distribution chain. Enterprises only collect the products they want, while they should have placed orders with farmers on what they wanted, and farmers would grow rice varieties to the orders. Getting exhausted because of GlobalGAP The latest onion crop in Soc Trang province was bountiful with the high yield of 20 tons per hectares. However, both the onion growers and exporters were not happy because of the sharp selling price falls and slow sale. The export markets have got narrower due to the technical barriers installed by the import countries, though Vietnamese products meet GlobalGAP standards. It is estimated that the investment rate for one hectare of onion is VND100 million. However, with the current selling price of VND5,000 per kilo, farmers incur the loss of VND30 million per hectare. The Vinh Chau’s farmers once incurred big loss last year, which was blamed on the oversupply caused by the sharp increase in the onion growing area. However, despite the growing area decrease of 1,000 hectares this year, the onion price keeps falling down dramatically. This shows that the onion sale gets stuck because of the technical barriers. Meanwhile, settling the problem is beyond the farmers’ ability. Of the 7,000 hectares of onion growing area in Vinh Chau, the farming in accordance with GlobalGAP is applied in an area of 1,000 hectares. Multi-billions dong has been poured into farming, but the sum of money has been spent in vain. Source:TBKTSG |
↧
Article 0
Eight Vietnamese children die from accidents every day VietNamNet Bridge - According to the Agency for Child Protection and Care, every day there are 7-8 children died of accidents. The annual average number is up to 6,000-7,000, with summer as the peak season.  Summer is the peak season for child accidents. This morning, May 27, the Ministry of Labor, War Invalids and Social Affairs held a press conference to introduce the month of action for children in 2013. Director of the Agency for Child Protection and Care – Mr. Nguyen Hai Huu said that the protection, care and education of children in Vietnam is still limited. The neonatal mortality and stunting malnutrition rates in Vietnam remain high compared to other countries with similar economic conditions. The number of children who are drug addicts, work in hazardous conditions and street children tends to increase. Sexual abuse and child violence takes place complicatedly. In addition, children's accidents and injuries are pressing issues, particularly in the summer. The reason is that children are out of school and go out more without the strict management of their teachers and parents. "Every day there are 7-8 kids die due to accidents, each year the number is 6,000-7,000 deaths," Huu said and said the plan on accident prevention had been submitted to the government. The official said that swimming would have been brought into school. Vietnamese schools are teaching children to run and play balls but not teach them swimming lessons while the number of kids drowning is very high in Vietnam. "It is not too difficult to build swimming pools. In the mountains, the local governments can mobilize people to dig ponds or embankment to create swimming pools for children. In cities, we need to have free swimming pool for kids, where they learn swimming," Huu proposed. Le Ha |
↧
Article 6
BUSINESS IN BRIEF 28/5 Vietnamese and Japanese scientists have agreed to study genetically modified cassava to produce a high-yield variety, helping reduce soil erosion or depletion in cassava-growing areas. A document to this effect was signed in the Japanese city of Addressing the signing ceremony, Deputy Prime Minister Nguyen Thien Nhan said that he hopes the project will be a success to pave the way for future agricultural cooperation between the countries. In the coming time, a joint laboratory will be set up in First int’l sea-tourism fair attracts foreign businesses Eighty foreign businesses will attend the first international thematic fair on sea and island tourism in The Nha Trang-Vietnam International Sea and Island Tourism Fair 2013, part of the 2013 Nha Trang Sea Festival, will have 160 booths introducing marine tourism products and services of local tour operators as well as travel agencies from Russia, Western Europe, Australia, New Zealand, Northeastern Asia, ASEAN and Middle East. Besides promoting Located 440km from Heat goes on builders A tough, new anti-fire law is to put the heat on property developers. The draft law’s Article 23 states that high buildings, underground and natural minerals exploitation projects, and steel-framed and iron sheet-roofed houses must have solutions to prevent fire, smoke congestion and toxic gas. Importantly, all projects must be equipped with fire-detecting automatic systems. Besides stipulating stiff anti-fire regulations for nuclear power projects, investors must “use anti-fire construction and decoration materials for super-high buildings.” Moreover, the draft law also orders in its Article 25 that at markets and commercial centres, power systems for different purposes must be put separately. Notably, the markets and centres must have emergency exits. All anti-fire automatic solutions must be installed. Worryingly, few markets and commercial centres now have emergency exits, while anti-fire equipment was of poor quality, said Nguyen Kim Khoa, chairman of the National Assembly’s National Security and Defence Committee. He said these new regulations were either not carved or remained unclear in the existing Law on Fire Prevention issued in 2010, which also failed to clarify the responsibilities of heads of agencies, organisations and households in fire prevention. However, in this new law, property owners may face criminal prosecution from losses about human and assets due to fire. Deputy Minister of Public Security Pham Quy Ngo said these new regulations were “a good solution to curb the increasing number of blazes.” During 2002-2011, Vietnam was home to nearly 20,000 big blazes in factories, schools, hospitals and houses, killing 712 people, injuring more than 1,900 people and causing financial losses of $201.3 million. Such fires stemmed from cooking, power, chemicals, gas and fuel. “Enterprises’ investments in anti-fire measures remain limited and they are not serious about implementing anti-fire regulations. Notably, many foreign-invested enterprises in For instance, a big fire on May 18 burnt locally-owned shoe-maker Duy Hung Company and Taiwan’s shoe sole maker Shangone Vietnam in southern Binh Duong province’s Song Than Industrial Park, while three days before, a fire damaged Taiwanese footwear-maker Pou Yuen Vietnam, supplier of global brands like Adidas, Nike, Reebook and Puma. In April, some blazes also hit five factories based in the park. However, Khoa said the draft law needed to clarify the criteria about high buildings and super-high buildings. Also, anti-fire regulations must also be imposed on metros, electric fly-overs and tunnels. Eastside Story: a new Hanoi grows across the Red River The arrival of Aeon will start construction of its first project in Aeon is a prominent player among many developers eyeing the potential of Fast development of new infrastructures together with the increasing number of residential and multi complex projects in the eastern Although Long Bien is a short drive to Hoang Hanh My, a resident in Viet Hung new urban complex, told VIR that she had moved to this area for more than two years, from the old style living quarters of inner Moreover, she said the four current bridges over the The area and facilities, My said, were developing quickly and living standards continued to improve. Real estate development in Long Bien has moved forward quickly in recent months with the openings of Savico Megamall and Vincom Centre, as well as other prime mixed-use developments such as the under-construction Mipec project next to Long Bien bridge. Richard Leech, CBRE Vietnam executive director, said he believed that the infrastructure had developed well. Leech said the occupancy rate in In the first five months of the year, Leech said, the demand for the Big C hypermarket, food and beverage and entertainment in However, economic woes are also impacting to the number of customers coming to Another salesgirl at Madison underwear shop with scores of leading domestic and foreign brands such as Vietnam’s Vera, Misaki, Wow and American’s Jokey, Jbuss or France’s Ell said that from the beginning of this year, though domestic brands reduced their price by 50 per cent and foreign brands by 30 per cent, the number of products sold was not many and shoppers were mostly women. At Junger In order to lure more customers to As the urban infrastructure expands east of Hanoi, big developers are engaged in big projects such as Vincom Village, BVIS International School, Berjaya’s Hanoi Garden City, (Vihajico) Ecopark, and Viet Hung new urban area developed by Housing Urban Development Corporation. Door set to open for more foreign property buying The Ministry of Construction plans to open the doors far wider for foreigners to buy property in Trinh Dinh Dung, Minister of Construction, admitted the current tight restrictions on foreign housing ownership had badly impacted on the local real estate market. In a ground-breaking move, Dung said the Ministry of Construction would propose foreigners be eligible to buy villas or private houses, not only high-end apartments as currently, in its plan to revise the Housing Law and the Real Estate Business Law. Moreover, Dung said foreign enterprises would be permitted to buy and own office buildings. Dung revealed the above information during a meeting last week in According to the Ministry of Construction, the revised ownership rules could be put into implementation in 2015 when the revised laws could be approved. “We are now at the planning step and the revised laws will seek public opinions before being submitted to the National Assembly in 2014,” Dung said. According to Resolution 19 dated June 3, 2008, five types of organisations and foreign individuals are eligible to buy and own homes in However, the reality is that with the complicated procedures and the tight regulations, a very small number of foreigners and overseas Vietnamese (Viet Kieu) were reported to have bought homes in A most revealing statistic provided by the General Department of Land Management shows that after four years from the date the government started permitting overseas Vietnamese and foreigners to own their houses in Meanwhile, it is estimated that more than 80,000 foreigners and overseas Vietnamese are living and working in Experts said that in the context that a large amount of accommodation still unsold, encouraging foreigners to buy houses could be a good channel to absorb these unsold units. The Mekong Delta’s total rice output is expected to reach 9.3 million tonnes in the 2013 summer-autumn crop, said the Ministry of Agriculture and Rural Development (MARD) at a conference in Can Tho city on May 23. The region also targets more than 4.6 million tonnes of husked rice, including 3.1 million tonnes for trade, it said. According to the ministry, the country’s rice bowl has more than 1.8 hectares for the ongoing summer-autumn rice crop, representing a decrease of over 6,400 hectares. By May 8, more than 1.1 million hectares have been filled, accounting for over 62 percent of the plan. In an effort to stabilise rice price and ensure minimum profits for farmers, the MARD has mapped out a plan on 2013 summer-autumn crop rice reserves to be submitted to the Prime Minister. Under the plan, the ministry proposed purchasing 1 million tonnes of rice for reserves, or 30 percent of total output reaped in the 2013 summer-autumn crop, within two months, beginning from June 15. According to the Vietnam Food Association, by May 16, The country signed contracts to export 4.42 million tonnes of rice, of which nearly 2.4 million tonnes have been handed over to customers. Meanwhile, the rice volume for domestic consumption is expected to hit 8 million tonnes in 2013, excluding an inventory of 787,000 tonnes from the previous year. The MARD said that Vietnamese rice will continue facing difficulties in 2013 as import demands of several Asian countries are forecast to sharply fall and increasing competitions among exporters, with newly emerging rivals such as Making audit reports add up for firms Tran Hang Thu, KPMG Vietnam’s Audit partner takes an expert look at how understanding the mechanics of audited statements will give firms a clearer view of the business landscape. As companies are due to submit their audited financial statements, which will subject to scrutinizing during Annual General Shareholder Meetings, it has become increasingly important for stakeholders to navigate and understand the key elements of the audit reports attached to the financial statements - an area that is not familiar to everyone. The public tends to recognise any issues mentioned in audit report as “points being highlighted by the auditor” regardless of where or how the issue is mentioned. It has been observed in quite a number of listed companies’ financial statements published so far this year that there is an increasing appearance of “Emphasis of Matter” paragraph right after the audit opinion section. Many users often wonder what auditor wants to communicate within this Emphasis of Matter (EOM) paragraph and how the issues mentioned add to the overall picture of the related financial statements’ truth and fairness? The meaning of an EOM in audit report is different from a qualification – an audit report with an EOM is still considered a “clean audit report” assuming that there is no other issue subject to auditor’s qualification. On another word, the auditor has been able to obtain sufficient audit evidence regarding the recognition, presentation and disclosure in the financial statements of the matter being highlighted in the EOM but the auditor would like bring such matter to the financial statements readers’ attention due to its importance to the user’s understanding of the financial statements while the financial statements are considered to give a true and fair view. However, auditors and financial statements reader should be cautious about the use of EOM paragraphs. In fact a widespread use of EOM paragraphs diminishes the effectiveness of auditor’s communication of such matters. Additionally, incorporating too much information in an EOM may imply that the audited entity’s management has not included enough information in the related financial statements. In general, an EOM paragraph is used mainly in the case that a significant uncertainty exists having a material effect on the financial position and performance of the audited entity. A common example of significant uncertainty is relating to the ability of the entity to continue as a going concern which may be subject to the occurrence or non-occurrence of future events. When adequate disclosure about the uncertainty is provided in the financial statements, the auditor would ordinarily include an EOM paragraph to highlight the uncertainty that may cast significant doubt on the entity’s ability to continue as a going concern. However, the important point is that the auditor has not opined that the going concern is not appropriate. The auditor has still agreed that the going concern is still appropriate and the financial statements are true and fair. If the entity does not provide adequate disclosure about the uncertainty in the financial statements, an emphasis of matter paragraph would be inappropriate since the financial statements as a whole are not true and fair. Instead, the audit opinion would have to be qualified. In case the auditor is unable to obtain sufficient audit evidence about the ability to continue as a going concern or does not agreethat going concern assumption is appropriate, the auditor would express a disclaimer of opinion or adverse opinion. Significant uncertainty may also exist in relation to results of outstanding lawsuit filed against the entity. In this case the lawsuit is on-going and has not been concluded at the year-end while based on information available at the year-end date it is not possible for entity’s management to assess the potential outcomes of the case. Similar to the uncertainty over going concern, if the uncertainty over the lawsuit is explained sufficiently in the note to financial statements; the auditor would include an EOM to refer to such explanation as opposed to the case where there is not sufficient explanation regarding the lawsuit in the financial statements, a qualified opinion is likely to be needed, assuming the potential contingent effects is material to the financial statements. Uncertainties however must associate with a future event and therefore issues for which there are indications or conditions confirming their existence at the balance sheet date should not be mentioned in an EOM. Cases such as additional provision for income tax which should have been accrued based on the prevailing tax regulations but in fact not being made as management arguing that it is subject to official tax notice or allowance for bad debts not being provided for as management is working toward revising the original payment terms are clearly not matters of uncertainty for which a qualification is appropriate not an EOM. Similarly issues that associate with wrong accounting treatments should never be reported within an EOM. The need to distinguish an EOM and a qualification is key to understand audit reports. Audit reports, as the final products of the audits and their quality, play a fundamental role in bringing transparency to the capital market. In order for a financial statements user to make informed decision he needs to learn how to extract the right information when reading audit reports. Understanding of situations where EOM paragraphs may be used also helps user to evaluate the quality of the audit report to a certain extent. The views expressed by the author here do not necessarily represent the views and opinions of KPMG Vietnam. Processing and manufacturing attract 90 percent of total FDI As many as 398 new foreign investment projects have been licensed and 160 ongoing foreign investment projects have been approved to raise their investment capital. Noticeably, processing and manufacturing industries have lured $ 7.6 billion, making up 89.2 percent of the total registered capital of the FDI projects. Meanwhile, Thai Nguyen province, attracting more than $ 2 billion of FDI, has topped the list of localities across the country in terms of luring FDI. It was followed by Binh Dinh, Binh Duong, Dong Nai and Vinh Phuc. Major FDI projects that have been licensed or approved to add capital since the beginning of the year included Nghi Son oil refinery in Thanh Hoa, Samsung Electronics Vietnam project in Thai Nguyen, Ads on cell phones rising With the increasing number of Internet users via cell phones, many enterprises have spent much on developing advertising services on such devices which are considered a good advertising channel. On the occasion of launching the Google Display Network in According to James McClure, head of Google’s Emerging Markets for Southeast and Realizing the importance of mobile devices, Google has developed strategies as well as introduced many products and services for such devices. However, Google has yet to have an office in For instance, Goldsun Media Focus has poured heavy investments in advertising infrastructure and services for cell phones to build a network called SoSmart, and has had around 600 million visitors every month. The figure accounts for 65% of the number of visitors accessing the Internet by cell phones in According to market researcher Nielsen, the cell-phone penetration rate in Besides, among the rest of cell phones users, half of them want to acquire smartphones. Another market research shows that 40% of cell phone users both watch television and use their cell phones or tablet computers, 56% use cell phones to search for information about products they have seen on television, 25% use cell phones to find information from posters and 35% use cell phones to search for information they saw on newspapers. Enterprises have noticed a change in behavior of consumers and thus are finding ways to get access to those customers. Several brands like Coca Cola Vietnam, VietJetAir, VP Bank and Sanyo have used the advertising system of SoSmart. However, mobile advertising is currently used as a supplementary channel for traditional advertising channels. Eximbank prioritizes risk management Risk management in the banking system must be the top priority given increasing difficulties of the economy and higher bad debt danger, said Le Hung Dung, chairman of Vietnam Export Import Commercial Bank, or Eximbank. Sticking to the motto “Prevention is better than cure”, Eximbank has strictly followed risk management rules over the past time to secure safe development of its entire system. The bank has launched a credit center into operation to improve credit quality of branches and credit policies. Therefore, Eximbank has bettered control over credit quality, Dung told the Daily on the occasion of the Third Class Labor Medal Receiving Ceremony on Wednesday. Dung, who also serves as Chairman of the Board of Members of Saigon Jewelry Company, won the title for his contributions to the society since 2008. The bank’s management activities have also received supports from its foreign strategic partner Sumitomo Mitsui Banking Corporation (SMBC). Its risk management system has met international standards, which are stricter than those regulated in the country. This year, Dung said Eximbank still aims to boost credit growth rate but it will focus on risk management by controlling credit quality and drastically handling overdue debts and bad debts. Eximbank posted up a modest credit growth of only 0.04% in 2012 and 0.03% in the first quarter of this year. Its bad debt ratio stayed low at around 1.33%, which was almost unchanged compared to late 2012. Eximbank has been granted with the Best Managed Bank in Vietnam 2013 Award by The Asian Banker. Giving this award to Eximbank, the magazine has recognized the lender’s sustainable development in the recent three years. Truong Van Phuoc, general director of Eximbank, has also received The Asian Banker Leadership Achievement Awards 2013 title. Eximbank is among commercial banks that boast biggest total assets in Despite challenges in the banking network, the bank targets to gain VND3.2 trillion in pre-tax profit in 2013, a 12.2% year-on-year increase, and pay dividend for shareholders at 12%. This dividend rate is much higher than the average of the banking sector. Eximbank’s general director Truong Van Phuoc said that the high target will encourage the bank to put more effort in business operations, focusing on retail banking and loans for export and import enterprises this year. The Asian Banker is one of prestigious magazines in the Asia-Pacific and globally. It is founded in Its quarterly publications have attracted many readers who are businesspeople in the region and worldwide. Every year, the magazine organizes selections of outstanding names in the banking industry in areas of finance trade, currency management and payment among others. BIDV to offer VND10 trillion preferential home loans Bank for Investment and Development of Vietnam (BIDV) will be able to offer preferential home loans worth VND10 trillion as part of the Government’s VND30-trillion program. BIDV said in a statement on Thursday that it had registered this credit volume. Since a circular of the Ministry of Construction and another of the central bank relating the program had come out, BIDV has quickly mobilized resources to make loans under the program. In the first 2-3 years, the lender will give 60% of the soft loans to corporate clients and 40% to individual homebuyers. The ratio will be changed to 30:70 in the fourth year. Owners of low-cost housing projects or commercial-turned-budget home projects will be granted loans worth 20% of the total investment cost with a five-year term and an interest rate of 6% per annum. As for individuals wanting to buy budget condos or commercial homes of less than 70 square meters priced below VND15 million per square meter, BIDV will provide loans for State employees, low-income people, and retired and self-employed people. The maximum loan term for individual borrowers is 15 years and the interest rate is 6% per year for 2013. The interest rate for the following years will be announced by the central bank in December each year. Basically, it will equal 50% of the average lending rate on the market but not exceed 6%. The above lending rate will apply for ten years at most. After that, BIDV will set a rate equivalent to the interest rate for a 12-month deposit plus two percentage points. The bank has issued guidelines about the preferential lending program to all of its branches and transaction offices nationwide. BIDV will give priority to the half-done projects that can be finalized in 2013-2015, and those having finished investment procedures or having sold over 50% of their apartments. The lender said it would try to disburse loans for corporate clients in less than 20 working days and those for individual borrowers in less than four days. BIDV has pledged to lend to three low-cost housing projects with a total of 1,068 apartments. They include a project developed by Vinaconex Xuan Mai, a project located at the eastern end of These projects are scheduled for completion in 2013-2014. BIDV has promised to provide them with VND231 billion loans, of which VND101 billion has been disbursed. BIDV will try to deploy its preferential home loan program right in this quarter. The bank expects to disburse over VND2.7 trillion this year. Satra rep office in The representative office of The office at In addition, the office will promote trade, investment and tourism on behalf of the HCMC government. The representative office will help HCMC firms organize and attend fairs, exhibitions and workshops, conduct market surveys and hold talks with partners from Moreover, the office will introduce the history, culture and tourism of HCMC to Satra said it would set up a branch in Those in need of assistance can contact Dao Ngoc Tam, chief of the representative office of Satra in Ownership certificates sought for improper homes Owners of houses not complying with approved designs might still get home ownership certificates if the proposal made by the HCMC Department of Natural Resources and Environment was accepted. In HCMC, there are still nearly 130,000 properties ineligible for certificates for various reasons like complicated land origins, illegal trade, disputes and violations committed by project owners, said the environment department. To finish granting land use right certificates and home ownership certificates by the end of this year in accordance with Directive 1474 of the Prime Minister, the department has submitted some suggestions to the HCMC government. Owners of houses not meeting their designs yet still consistent with the overall planning of the 1/2,000 scale should be granted home ownership certificates. As for houses smaller than designed, which do not affect the urban landscape, district governments should also consider issuing home ownership certificates to their owners, the department suggested. Earlier, the HCMC government has reported to the central authorities on some measures to accelerate the certificate granting process. For example, some properties developed after October 15, 1993 and before the planning was published are inconsistent with the planning. Owners of such properties should be granted certificates if the State had not set a specific time for implementing the planning yet, said the municipal government. Those buying condos at property projects should be given home ownership certificates after completing payments regardless of the violations committed by the project owners during the construction process, said the environment department. VFA, The summer-autumn rice crop will enter its peak harvest season in less than a week, but the Vietnam Food Association (VFA) and the Mekong Delta provinces have not reached an agreement on the rice volume to be bought for temporary storage. VFA suggests stockpiling 500,000 tons, versus one million tons in the winter-spring crop. Meanwhile, provincial authorities want a higher volume. Nguyen Van Ngung, deputy director of the Soc Trang Department of Industry and Trade, said the rice storage amount should be increased to 1.5 million tons. A representative of the government of “Therefore, I propose raising the temporary storage target to 1.5 million tons in this summer-autumn crop,” he said at a conference on rice stockpiling in the Mekong Delta held in Can Tho City on Thursday. However, VFA Chairman Nguyen Thanh Phong said a larger amount would spell trouble for rice exporters, especially in the context of mounting rice inventory in Not only the rice storage volume, but the agency in charge of the stockpiling program has also remained undecided. The Ministry of Agriculture and Rural Development has drafted regulations on rice stockpiling in the Mekong Delta, suggesting that either VFA or the Mekong Delta’s local governments should be in charge of the program. The final decision will be made by the Government. Either way, VFA should coordinate with local governments to provide information about the stockpiling process and the production situation. VFA must disclose the points of purchase and the purchase prices to local governments and farmers, said Deputy Minister of Agriculture and Rural Development Vu Van Tam. The rice storage for the summer-autumn crop is scheduled to take place from June 15 to August 15. Enterprises participating in the program will enjoy a zero lending rate for three months, but many rice exporters want the interest-free period to be extended to four months. High duties push up fuel retail prices The average price of finished fuel products imported by wholesalers is now much lower than this time last year, but fuel retail prices are more exorbitant because of high import tariffs. Over 70,700 tons of petrol worth more than US$67 million was imported in the first half of May. On average, the price of each ton of imported petrol was US$950, according to the General Department of Customs. As of mid-May, petrol imports totaled nearly 880,000 tons, worth more than US$929 million. The five-month average import price was around US$1,056 per ton. The average price year-on-year was much higher. Last year, the average petrol import price in the first half of May was US$1,113 per ton and the five-month price was US$1,126 a ton. As for diesel oil, imports in the first half of May amounted to more than 131,000 tons, worth around US$112 million. By the middle of May, nearly 1.1 million tons of diesel oil had been imported, costing over US$1 billion. The average prices in these two periods were US$853 and US$924 per ton respectively, versus US$980 and US$1,007 last year. Yet, fuel retail prices moved in an opposite direction. Currently, each liter of A92 petrol sells for VND23,330 and diesel oil VND21,250. This time last year, the two items were priced at VND23,300 and VND21,200 per liter respectively. On May 23, 2012, the governing body issued a decision on reducing petrol retail price by VND600 and diesel oil VND400. As such, RON92 petrol and diesel oil prices dropped to a respective VND22,700 and VND21,200. The main reason for this difference is import tariffs. The current import tax on petrol is 19%, while diesel oil is charged at 14%. This time last year, import duties on gasoline and diesel oil were only 2% and 1% respectively, and then increased to 4% and 3% on May 23, 2012 in accordance with the above-mentioned decision. With 19% import duty, each liter of petrol is bearing VND3,000 of tax. Plus excise tax, value added tax and environmental protection tax, one liter of gasoline is now subject to nearly VND8,000, said the Vietnam Petroleum Association (Vinpa). Similarly, import tariff is occupying VND2,125 of the price of each diesel oil liter. Overall, taxes are making up nearly VND5,000 of diesel oil retail price. This year, import tariffs on fuel have constantly been hiked, especially since April. On May 8, the Ministry of Finance decided to raise petrol import duty from 16% to 19% and diesel oil 12% to 14% when the global prices fell. According to the statistics of the General Department of Customs, fuel imports in the first half of May as well as since January 1 are lower than the same period last year. The total import volume of gasoline, diesel oil, kerosene, fuel oil and aviation fuel since the beginning of the year is more than 2.7 million tons, worth over US$2.5 billion, versus 3.3 million tons and US$3.4 billion year-on-year. Travelport renews contract with Galileo Vietnam Travelport, a major provider of transaction processing solutions and data for the global travel industry, has renewed a multi-year service contract with Galileo Pham Van Hien, chairman of Galileo The agreement came after 10 years of successful partnership between the two sides. The new signing consolidated Galileo Hien said over the past decade, more than 500 agencies had used Galileo’s global distribution system (GDS) services for their daily business in Andres commented that the commitment of Galileo Hien said Galileo “We look forward to continuing our work with Travelport, and continuing to provide cutting-edge solutions to travel agencies,” Hien said. He added that Galileo Vietnam was excited about the future of the hospitality and tourism industry in the region. Andres said the travel industry in Galileo Government asked to clarify standards for assessing public debt While the government said The NA held a working session on May 22 to review the results of socioeconomic development and state budget in 2012, as well as the implementation of development plans in the first months of this year. The country’s public debts drew much of the attention of NA deputies during the meeting. NA Deputy, Truong Thi Anh, from “The government should clarify the criteria it uses to assess the safety of public debts and submit it to the NA for approval,” Anh proposed. Deputy Tran Du Lich said even though it is necessary to control public debt, the NA should take into account the implications of reconsidering the rate of state budget deficit spending, so as to loosen fiscal policies and boost demand. “The government’s plan to issue VND45 trillion (USD2.14 billion) in bonds for some industries is significant, but first priority should be given to the settlement of debts owed by public investment projects to enterprises, projects already underway and those that are nearly complete,” Lich recommended. Although a government report released at the NA’s opening session on May 20 said that the country’s public debts are still at acceptable levels, it did not mention a specific figure. However, a recent report from the Ministry of Finance showed that by the end of 2011 Several experts said such this level is high compared to those recommended for developing countries, usually between 30%-40% of GDP. Concerning current economic situation, deputy Pham Huy Hung from Hung, also a staff member of a bank, said that interest rates are not really the major barrier for enterprises in accessing capital. Modest lending is a result of weak demand in the economy, large inventories as well as business difficulties such as weak financial portfolios. “Well-performing enterprises tend not to expand very much and borrow less. Meanwhile, those that want to borrow generally lack feasible business models. Proper solutions should be worked out to shore up demand, boost sales and increase confidence among banks,” he emphasised. Deputy Bui Thi An from She added that more attention should be paid to identifying problems in the economy so as to work out suitable solutions. Rules tightened to block FDI firms from direct purchases from farmers The Vietnamese government will issue a new circular to prevent FDI companies from buying agricultural products directly from farmers. Circular 8 issued by the Ministry of Industry and Trade will take effect from June 7 stated that FDI companies in Vietnam can only buy agricultural products from licensed Vietnamese traders unless international treaties, to which Vietnam is a party, stated otherwise. According to the minister of Agriculture and Rural Development, FDI companies have taken over 70% of the animal feed industry. In the Central Highlands, 12 FDI companies have exported 50-60% of total coffee production. The Louis Dreyfus Commodities' export volume alone accounted for over 40% of coffee export output in Pham Quang Dieu, chief economist of the Agricultural Market Analysis and Forecast Company said many FDI companies only buy the product and did not invest in the agricultural resources despite their investment permit's requirement. Meanwhile he said domestic companies, who have supported the farmers during the production process, lost due to FDI companies paying the farmers higher prices. Dang Kim Son, head of Philippe Bacac, CEO of Metro Cash and Carry in A number of experts said the relations between domestic firms and farmers were still very vague and there was a lack mutual benefit in their relationships. Farmers earned too little so domestic firms should tighten their collaboration. "We should learn from FDI companies have been able to dominate the market because of their superior supplies of capital and human resources. The authorities should find a reasonable way to encourage farmers, local firms and FDI companies to all benefit. As part of this effort, the Ministry of Construction (MoC) has recently signed a cooperation agreement with the International Finance Corporation (IFC) to promote energy efficiency in buildings and reduce greenhouse gas emissions. As a result, the IFC will provide The code took effect in 2005 but has not been widely implemented due to a lack of specific guidance and enforcement. Last year IFC signed a memorandum of understanding with the Vietnamese government to support it in revising the code, which is expected to be released later this year.“ This agreement is expected to contribute to the implementation of the National Target Programme on Climate Change Adaptation, the National Target Programme on Energy Efficiency, and the National Green Growth Strategy,” said Phan Thi My Linh, Deputy Minister of Construction. Wendy Werner, IFC’s investment climate advisory services manager for East Asia and the Pacific, said "Tthe building sector was among the biggest energy users in Vietnam, accounting for about 36% of national energy consumption. Energy efficiency will help developers reduce operating costs and contribute toward a low-carbon economic growth path.” A World Bank report shows that “Promoting energy efficiency in the building sector will help the country achieve its target of reducing greenhouse gas emissions from 8-10% from 2011 levels by the year 2020,” Werner added. Nguyen Cong Thinh, from the MoC’s Department of Science, Technology and Environment, said that Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR |
↧
Article 5
Shangri-La Dialogue 2013 to take place soon
HA NOI - Defence ministers, senior military officials and top defence analysts from 27 countries in the Asia-Pacific, North America and Europe will gather in Singapore on May 31 for the 12th IISS Asia Security Summit (or the Shangri-La Dialogue). Convened by the London-based International Institute for Strategic Studies (IISS), the Shangri-La Dialogue is the key forum for the discussion and analysis of defence and security issues in the region and beyond. Dr John Chipman, Director-General and Chief Executive of the IISS, said "The Summit is now recognised as an indispensable element of the Asia-Pacific's regional security architecture. This year, as ever, it will provide a crucial space where ministers and key officials can discuss security policy issues present and future." During this year's Dialogue, lasting from May 31st to June 2, delegates from Association of Southeast Asian Nations (ASEAN) members, China, the US, Russia, Japan, the Republic of Korea, Australia, New Zealand, France, Germany, the UK, Canada and others will participate in five plenary sessions. They will discuss the US approach to regional security; defending national interests and preventing conflicts; military modernisation and strategic transparency; new trends in Asia – Pacific security; and advancing defence cooperation in the Asia-Pacific. Delegates also join in special session discussions on avoiding incidents at sea; the Afghan drawdown and regional security; missile defence and the Asia-Pacific; new military technologies and doctrines; defence diplomacy and conflict prevention; and the cyber dimension to Asian security. Bilateral meetings will be also held on the sidelines of the dialogue. Prime Minister Nguyen Tan Dung is scheduled to deliver a keynote speech at the Dialogue. The IISS said in its statement that Vietnamese Prime Minister's participation indicates the crucial role the Dialogue plays in inter-governmental discussions about defence and security in the Asia-Pacific region. Dr John Chipman said "We are delighted that Prime Minster Nguyen Tan Dung will be speaking at the Shangri-La Dialogue. His participation and the perspective of Vietnam on current defence issues and conflict resolution opportunities will add significant weight to the crucial discussions about regional security which will take place there." Vietnamese Ambassador to Singapore, Mr Tran Hai Hau told Vietnam News Agency's Singapore-based reporter that "Host Singapore and the organising board's inviting Prime Minister Nguyen Tan Dung to deliver the keynote opening dinner address at the Dialogue reflects their appreciation of Vietnam's role towards regional security." The Ambassador noted, Prime Minister's acceptance to attend 2013 Dialogue served as a reflection of Vietnam 's foreign policy of activeness and responsibility towards peace, stability, security and cooperation in the region as well as towards building the ASEAN community by year 2015. Vietnamese Prime Minister's participation is significant to joint efforts by ASEAN to maintain peace and security in the East Sea , especially at the time when all ASEAN member countries are unanimous on early launch of negotiations with China on the Code of Conduct in the East Sea , the diplomat added. Prime Minister Nguyen Tan Dung will be the fifth head of government/state other than Singapore to make the keynote speech at the summit, following Australian Prime Minister Kevin Rudd at Shangri-La Dialogue 2009, RoK President Lee Myung-bak in 2010, Malaysian Prime Minister Najib Razak in 2011 and Indonesian President Susilo Bambang Yudhoyono last year. - VNA/VNS |
↧
↧
Article 4
Vietnam condemns China for attack on fishermen off Paracels
Vietnam has accused a Chinese vessel of attacking a Vietnamse fishing boat off the coast of Vietnam's Paracel (Hoang Sa) Islands, calling the incident a breach of international maritime law. "This is a very serious case, violating Vietnam's sovereignty, threatening the lives and sabotaging the properties of Vietnamese fishermen," Luong Thanh Nghi, the Foreign Ministry spokesman, said in a statement late Monday. The attack is against the spirit of the talks in which Beijing committed to fully follow the Declaration on the Conduct of the Parties in the South China Sea (DOC), Nghi said. "Vietnam resolutely opposes this and demands that China investigate and strictly deal with the above wrongdoings and compensate for the damages carried by Vietnamese fishermen," he said. He also said Vietnamese Foreign Ministry officials on Sunday met representatives of the Chinese embassy in Hanoi. The Vietnamese officials handed over a diplomatic note objecting to the attack, he added. Tran Van Trung, captain of the attacked vessel, said the incident had happened on May 20 when he and 15 crew members were some 27 nautical miles off Quang Ngai Province's Tri Ton Island of the Paracels, when they were surrounded by a fleet of 18 Chinese boats. The waters where the incident took place has been considered Vietnam's exclusive economic zone. The Chinese boats continuously forced him to drive his boat away, Trung was quoted by Tuoi Tre (Youth) newspaper as saying. The Chinese forces filmed and photographed them as well, he said. Later a red boat twice crashed into the Vietnamese boat, causing VND100 million (US$4,689) in damages, according to the Tuoi Tre report. In March, Vietnam also said a Chinese ship fired flares at four Vietnamese fishing boats from Quang Ngai Province that were fishing in their traditional fishing grounds in the Paracels, a move Vietnam criticized as “inhumane and dangerous”. Over the years, hundreds of Vietnamese fishermen and their crews have fallen prey to China’s increasingly aggressive patrols around the disputed islands in the East Sea, internationally known as the South China Sea. China and four members of the Association of Southeast Asian Nations (ASEAN) – Vietnam, the Philippines, Malaysia and Brunei – are embroiled in sovereignty disputes over the East Sea, internationally known as the South China Sea. China illegally claims sovereignty over 80 percent of the East Sea. The waters are thought to hold vast untapped reserves of oil and natural gas that could potentially place China, the Philippines, Vietnam, and other claimant nations alongside the likes of Saudi Arabia, Russia, and Qatar. In 1974, taking advantage of the withdrawal of the American troops from the Vietnam War, China invaded the Paracel Islands. A brief but bloody naval battle with the forces of the then US-backed Republic of Vietnam ensued. Vietnam’s behemoth northern neighbor has illegally occupied the islands ever since. But a post-1975 united Vietnam has never relinquished its ownership of the Paracel Islands and continues to keep military bases and other facilities on the Spratly Islands. Vietnam has also recently voiced its opposition to and dismissed China’s unilateral ban on fishing in the East Sea that is effective until August. Vietnam said the banned area encompasses its waters and violates its sovereignty over the Paracels. To make matter worse, in early this month, China sent one of its largest fishing fleets on record to the disputed Spratly (Truong Sa) Islands, a move analysts say that will inevitably deplete fish stocks further, affecting Southeast Asian littoral states that rely heavily on the same fisheries. By doing so, analysts say Beijing can dare others to try to expel Chinese fishing boats from one expanse while daring other nations' fishing boats to enter another expanse patrolled by Chinese vessels. "China will continue to creatively seek new ways to assert its claims commensurate with its increased presence in the area and widening power gap vis-a-vis the other claimants," said Ristian Supriyanto, a maritime expert with the S. Rajaratnam School of International Studies in Singapore. "Although these assertions are actually disregarded by the other claimants, they are enough to demonstrate Chinese resolve," Supriyanto told Thanh Nien News. The analysts say if China is not opposed by claimant states, its actions will lay the foundation to claim that littoral states have acquiesced and accepted China's territorial claim. By dispatching its own fishing fleet to one zone (the Spratlys) while forbidding others to fish in another (the Paracels), "China considers the case regarding the Paracels with Vietnam 'closed'," said Mark Valencia, a Hawaii-based expert on the dispute. Thanh Nien News |
↧
Article 3
Visa bribery case: how did ex-US officer make money? Tuoitrenews  Michael T. Sestak former head of the non immigrant visa department of the US Consulate General in Michael T. Sestak who once worked at the Sestak, 42, who was arrested last week in South California for the visa-for-money scam, worked as the head of the non-immigration visa department of the Consulate General in The process in which Sestak and his five conspirators had committed their offense has been recorded in detail in an affidavit of Dinits, a Special Agent with the Diplomatic Security Service (DSS) of the US Department of State, prepared the affidavit in support of a criminal complaint charging Sestak with violating Title I8 USC § 371 by conspiring to defraud the United States and to commit offenses against the United States, that is, visa fraud in violation of 18 U.S.C. § 1546 and bribery in violation of 18 U.S.C. § 201(b)(1) and (b)(2). An investigation by the DSS has revealed probable cause that, beginning sometime in or around March 2012, while working as a Consular Officer in the Non-Immigrant Visa (“NIV”) Unit of the United States Consulate in HCMC, Sestak conspired with others to solicit bribes from visa applicants in exchange for which he facilitated the approval of their visas through the Consulate. Sestak had five conspirators in the scam, including co-conspirator I, a Co-conspirator 1, who resides in Co-conspirator 2 is co-conspirator 1’s spouse, and resides in Based on evidence uncovered through the course of the investigation, it is believed that the scheme operated as follows: Sestak agreed to approve NIVs for applicants for a fee. Co-conspirator 1, co-conspirator 3, and other co-conspirators had “agents” working to recruit customers — or to recruit other recruiters - to the visa scheme. Co-conspirator 3 reached out to people in Sestak’s co-conspirators also underscored that the lawyer could get visas for people who generally would not be able to get visas on their own, such as people who had been previously refused visas, people who resided in the countryside, people who had not traveled outside of Vietnam, etc. (The investigation has uncovered no evidence of any attorney being involved in the effort to acquire visas.) Co-conspirator 1, co-conspirator 5, and others, would then obtain biographical data and photos from customers in order to prepare their visa applications for them. They would submit the customers’ applications online and obtain appointments for interviews at the Consulate. They would also assist people in preparing for NIV consular interviews by providing sample questions and answers. Soon after submitting the visa application — in typically 3 days or less — the customer would receive an appointment at the Consulate, be interviewed by Sestak, and be approved for a visa. The co-conspirators advertised that the charge would be between $50-70,000 per visa, but also that they would sometimes charge less. They also encouraged recruiters to raise the price and keep the amount they charged over the established rate as their own commission. Customers would pay for their visas in He ultimately moved the money out of |
↧
Article 2
Nick Vujicic event: Vietnam youth lacks pushes? VietNamNet Bridge - Vietnam has many people who are not different from Nick Vujicic, but Vietnam cannot turn them into mirrors or seeds with wide spreading influence like Nick.  Nick Vujicic. The four days in Vietnam of Nick Vujicic, an Australian man born with no arms and legs created an "acute" craze to the media and especially to the youth. Nick was considered like a star, an idol, an icon of iron wills, extraordinary courage and desire to live and to dedicate by Vietnamese young people. What Nick did in Vietnam in four days was fully covered by the local media and social networking sites, creating “tsunami" with pervasive influence on Vietnamese, especially the youth, which has never happened to any event in Vietnam. What happened when Vietnam also has the people who are similar as Nick? Whether Nick - with the "mental boost," with what he did - has struck a chord of Vietnamese youth? Or Vietnamese youth lack of "pushes," so the presence of Nick was the final straw, which warns of severe shortage in many aspects of the youth? Not only Nick was welcomed by the Vietnam youth with enthusiasm, excitement and desire, as a symbol of "life." Before that, foreign singers and actors were also received with enthusiasm and passion, even excessive madness, despite all the obstacles in the weather, time, language, etc. Please do not be quick to criticize Vietnamese young people. The reality of society today, is what have the adults been doing for the young? What makes them to become disoriented, lose faith, do not completely know the purpose of life, the ideal for life; because they have no spiritual fulcrum. How can young people have faith when the things that the adults do go against the good theory? In the narrow the scope - the family, many parents are not being a mirror for their children. Many crime tragedies caused to young people come from the family, when the family is not a cozy nest. In the broader scope – the society, big corruption scandals, justice not being enforced, deception becoming normal… all of those things have shaken, cooled off the belief in young people. Without unsteady spiritual fulcrum, where they will cling to withstand the pitfalls -- the labyrinth of crime? Because of that lack, the desire for a spiritual fulcrum, desire for a true value, the value of life has become such a demand, of course, like water or air to breathe. Understandably, the characters who are seen as idols, stars, the symbol of man's desire to live, to attainment, have become a breath of fresh air, inspiration, motivate, and a "mental boost" for the young from afar. It is not true that Vietnamese youth lack orientation, purposes, and ideal for life. These theories are all in the ... principles and purposes of the Vietnam Youth Union, the Communist Youth League, not to mention to ethical rules in schools... But why are these things only "water off a duck’s back" and they make no significant influence on the youth? Many of the youth movements are all organized in formalism. In addition to shaken spiritual fulcrum, whether the theories and the way to gather the young in Vietnam have long been obsolete and inappropriate? Is the imposition of young people in the "dogma" from the wartime, or impose the thinking, way of life of the previous generation on young people no longer effective? Contemporary life has made many valuable lives, the information is no longer a narrow range, and the vision is also expanded multidimensional, multifaceted. Young people now understand their "rights" so they want to participate in making decisions about themselves and they do not want to "follow" any theory, if it is not the laws. Should the dogmatic theories need to change to suit the needs of young people to urge them to voluntarily share their self-awareness and empathy, on the integration and development of the nation? Strategy for Vietnam youth Many seminars have been held to analyze the youth’s idolization of foreign entertainers in order to find out what young people need, want, hope and dream about. Also, in many seminars on social issues, experts showed headaches with the phenomenon of increasing youth crime or young people’s favor of the "virtual" life. But what Vietnam's youth need, want, how about their spiritual anchor, their faith in the contemporary social turmoil, their future... are still a big question that has not been answered. Nick Vujicic, the 8X generation Australian, who was born with no arms and legs but has done many extraordinary things that normal people cannot do has sowed the "seeds of the soul," creating a "mental boost" with strong pervasion as "tsunami" among Vietnam's youth. Not only Nick, but many other characters in the entertainment world, economists, Nobel Prize winners who came to Vietnam, all created the "waves" sweeping the Vietnamese youth. Do these characters bring to Vietnamese young people the value of life that they cannot find? Do these characters "heat" up and give the Vietnamese young people a spiritual fulcrum, to know how to dream, to have passion, to strive for a goal, great aspirations, the desire to contribute to humanity? Probably not, because what they brought to Vietnam is not new, not different, and not mysterious. It is very normal, but it's close; it's not theory but the fact that is proven by the "living" characters themselves. One more point -- they were well received and very pervasive because they were "backed" by their nation in general, and their media in particular. In Vietnam, when Nick came, many people wondered that if Vietnam does not lack people like Nick, why they are not praised like Nick? Yes, Vietnam has many cases which are similar as Nick, but what does Vietnam do to turn them into a mirror, a powerful seed with wide spreading influence like Nick? This question is posed to all the youth-related policy makers, the educators, the psychologists, the sociologies of Vietnam, even the media. And above all, it is the interest of the state leaders on the youth. Minh Chau |
↧
More Pages to Explore .....
