Vietnam’s Viettel signs up 1 million subscribers in Myanmar, ten days after launchMytel, the Viettel-owned mobile operator in Myanmar, surpassed the one-million-subscriber mark only ten days from its June 9 launch.
 Mytel employees talk to a customer in Myanmar. Photo: Viettel Mytel, the Viettel-owned mobile operator in Myanmar, has signed up more than one million subscribers in just ten days since it officially began operations. This is the fastest customer growth rate among all markets, both Vietnam and internationally, that Viettel Group has invested in. It is also a record customer growth that few telecom service providers in the world would gain. There are several reasons for this achievement, including the fact that the company had set up the most extensive telecom infrastructure in Myanmar even before starting operations. It has laid 30,000km of fiber-optic cable, or 50 percent of Myanmar’s total cable infrastructure, allowing Mytel network to cover 80 percent of the population. Mytel is the only mobile network to provide 4G services nationwide in Myanmar, covering 300 out of 330 towns, compared to 185 places of its biggest competitor. Mytel has set up a nationwide distribution system with 50 stores and 50,000 sales agents, 70 pe cent of them in rural and remote areas. The company is also offering very attractive promotions to mark its inauguration. For 4,000 Myanmarese Kyat (US$3), subscribers receive 5GB and 250 minutes of calling within the Mytel network in 30 days, two times higher than other networks offer. Subscribers also get 100 percent bonus on top-up value every day, instead of other network’s 33 – 50 percent bonus, and they can call other networks’ subscribers.
Nguyen Thanh Nam, Mytel’s general director, said while Myanmar has experienced rapid economic growth, mobile phone penetration in the country has remained low, creating huge opportunities for the telecom sector, especially Viettel. “We are targeting two to three million customers in Myanmar in 2018,” he said. Mytel began operations on June 9. Myanmar is Viettel’s tenth foreign market and its largest in terms of population (53 million). Myanmar is also Viettel’s market with the highest economic growth rate, which was seven percent last year. It also has high growth in the telecommunications and IT sector. But it is also a very competitive market; telecom services are already used by 90 percent of the population, calling and data tariffs are cheap, and there is fierce competition from international networks like Norway’s Telenor, the 13th world’s biggest, and Qatar’s Ooredoo, the leading network in the Middle East. As of Mytel’s opening, Viettel Group’s registered foreign investment oversea is over $2 billion. It has already invested $1.19 billion and repatriated profits of $516 million to Vietnam. Tuoitrenews |
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Ninh Thuận aspires to be VN’s heart of green energy NINH THUẬN — With hydropower and fossil fuel potential nearing exhaustion, the development of wind and solar energy is becoming a necessity.
With hydropower and fossil fuel potential nearing exhaustion, the development of wind and solar energy is becoming a necessity.— Photo zing.vn The coastal province of Ninh Thuận in south central Việt Nam, blessed with abundant sunshine and wind, is aspiring to become the country’s centre of renewable energy and realise its ambitions via robust development policies. Investment attraction According to the province’s green energy plan, by 2030, Ninh Thuận would draw in wind and solar energy projects with installed capacity of nearly 1,500MW and 3,900MW, respectively. Currently, there are 15 wind energy projects in Ninh Thuận that have got the seal of approval from the Government and the Ministry of Industry and Trade (MoIT), 12 of which have received investment certificates for a total capacity of 750MW and capital of VNĐ25.6 trillion. Regarding solar energy, 25 projects have been approved, 18 of which have received investment certificates for total capacity of 999MW and registered investment of VNĐ28 trillion. In a bid to attract more renewable energy projects, provincial authorities have been offering unstinting policies for investors, which usually hit the ‘ceiling level’ of incentives allowed by the Government to facilitate the completion of projects. Specifically, renewable energy investors would enjoy a waiving of land lease fees for the entire project’s lifetime, corporate tax exemption for the first four years and a corporate tax rate of 10 per cent for the next nine years, half the standard rate. Import tax for procurement of fixed assets in renewable projects would also be reduced to zero. Phạm Văn Hậu, Vice Chairman of Ninh Thuận People’s Committee, said he believed in the province’s potential to lead the country in developing renewable energy. “We prioritise capable and experienced investors who possess hi-tech expertise and determination to carry out renewable energy projects in the province,” Hậu said. In the future, the provincial People’s Committee would continue to direct its agencies in working with investors to settle bottlenecks in land clearance and business procedures. Wind and solar energy projects, once they enter commercial production, will bring “significant contributions” to Việt Nam’s energy security, in tandem with its role in local socio-development, Hậu added. The province has even requested the Ministry of Industry and Trade to review and shorten the evaluation time for renewable energy projects’ basic design, to allow investors to soon bring their projects into operation and enjoy the Government’s preferential policies as set in Decision No.11/2017/QĐ-TTg, which is the first legal framework to promote solar energy in the country. Ninh Thuận has also asked the MoIT to issue national standards on wind energy and solar energy. Phạm Đăng Thành, head of Ninh Thuận’s department of industry and trade, told Vietnam News Agency that in order to facilitate the process of connecting solar and wind power plants to the national grid, the province has asked the Government to pour resources into developing a fully-fledged electricity transmission infrastructure to prepare for growing demand. “The province’s current transmission infrastructure is weak as it was built with local socio-economic development in mind and not meant to handle the surge of demand once the many renewable energy projects in the province start production,” Thành said. The province, after working with investors and would-be investors in renewable energy, has submitted a request to the Government to increase the current feed-in-tariff for wind energy (7.8 cent/kWh) as well as prolong the application of solar power feed-in-tariff stated in Decision No.11. Ongoing projects Four wind energy projects have started construction and are expected to go into operation within the year, including Đầm Nại project in Ninh Hải and Thuận Bắc districts with installed capacity of 40MW and total investment reaching over VNĐ1.5 trillion (US$65.78 million). Three turbines of 6MW, as part of the project’s phase 1, have started running and phase 2 is expected to be completed in 2018. Three others slated to be completed are the VNĐ1.47 trillion Mũi Dinh wind power plant in Thuận Nam District with capacity of 37.6MW, Trung Nam wind power plant in Thuận Bắc District with total investment of nearly VNĐ4 trillion and Công Hải 1 plant also in Thuận Bắc District. Three solar energy projects have also started construction and are scheduled to deliver the first batch of green energy this year, namely the Bim plant with capacity of 30MW and total investment of VNĐ797 billion, the 50MW Bầu Ngứ project with investment of VNĐ1.15 trillion and the largest solar project in Việt Nam, CMX Renewable Energy project in Ninh Sơn District with total capacity of 169MW and investment of VNĐ4.4 trillion. The CMX project, undertaken by the CMX Re Sunseap Việt Nam Co Ltd, is expected to be fully completed and join the national power grid in June next year. VNS |
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BUSINESS IN BRIEF 22/6 VN Central Bank asks banks to rectify hotline issues  The State Bank of Viet Nam (SBV) has asked banks to provide enough switchboard operators and improve technical infrastructure to process complaints efficiently. The SBV said it found through monitoring that the hotlines of some banks were not operating effectively, making it very difficult for customers and cardholders to request assistance in emergency cases. This has been a cause for concern and has been reported in different forms of mass media. In order to ensure the quality of services, the State Bank has required banks to address the issue to promptly receive and handle the inspection and complaints of customers. Banks must take the initiative in explaining and promptly responding to opinions expressed on mass media regarding the quality of card payment services to avoid pulling down consumer trust in the quality of payment services offered by banks and the development of non-cash payment regulations by the Government and the State Bank, the SBV said. The SBV made the issuance in the context of recent outbreaks in card fraud. In many cases, cardholders have a hard time contacting the bank switchboard to request for account lockout after finding out that their accounts had been hacked, resulting in loss of money. There have also been cases where customers have complained about difficulties in contacting the switchboard to ask for emergency card lock after losing their card either by their own doing or as a result of a machine failing to eject their card. SBV tightens corporate bond purchase by banks State Bank of Viet Nam has tightened regulations on corporate bond purchase by credit institutions and foreign banks’ branches. Under Circular No. 15/2018/TT-NHNN issued on Monday, which revises Circular No. 22/2016/TT-NHNN dated June 30, 2016, the central bank prohibits them from buying bonds for the purpose of restructuring the issuers’ existing loans, effective from August 2 this year. The central bank also stipulates that for corporate bond purchase, credit institutions and foreign banks’ branches must have an internal credit rating system besides the system to rate the bond issuers. They are also required to issue internal regulations on the purchase of corporate bonds in accordance with the current legal regulations. Accordingly, internal supervision regulations on corporate bond purchase, especially bonds issued for the purpose of implementing programmes and projects in areas of potential risk as identified by the assessment of credit institutions and foreign banks’ branches, must be established to detect risks and violations to ensure the recovery of principal and interest of corporate bonds. Credit institutions and foreign banks’ branches must also issue internal regulations on specifying the areas of potential risks as well as their credit and investment policies on the areas. It is estimated that some 75 per cent of corporate bond buyers in Viet Nam are commercial banks, which makes these bonds no different from bank loans. Bui Quang Tin, professor at the HCM Banking University, told the Dau tu (Vietnam Investment Review) that some companies sold bonds to banks to restructure their existing loans rather than raise new capital, which defeated the original purpose of bond issuance. According to Tin, outside investors, especially individual investors, usually have no access to a firm’s business activities. Viet Nam does not have an independent credit rating agency, which makes bond investment risky, as investors do not know which issuer can pay back their bonds. To attract more international investors, Tin suggested setting up a credit rating agency, as well as diversifying bond offers to the market. Besides, financial experts also believed that a streamlined legal framework will pave the way for more corporate bond issuers as fixed-income products, such as bonds, are still attractive to investors, thanks to its safety and lower risks. VNE sells entire stake in Hue Green Tourism Viet Nam Electricity Construction Joint Stock Corporation (VNE) has sold its entire stake in Hue Green Tourism Joint Stock Company for more than VND279.3 billion (US$12.3 million), the company announced. In its filing to HCM Stock Exchange on June 18, VNECO said it had sold 20.77 million shares, equivalent to 99.86 per cent of Hue Green Tourism’s capital, to three investors for VND13,499 per share. The transfer price was double its price of VND6,480 per share on the HCM Stock Exchange on June 18. Hue Green Tourism, which manages the four-star Green Hue Hotel, is no longer a subsidiary of VNE since June 18, the company said. The buyers of VNE’s stakes are Silk Path Hotel Joint Stock Co, which purchased nearly 20.4 million shares, and two individuals – Bui Tu Phuong, director and legal representative of Silk Path Hotel, and Ta Dam Hung. Silk Path Hotel, with a charter capital of VND383 billion, has two hotels in Ha Noi and a five-star hotel in Sapa. The divestment of Hue Green Tourism is part of VNE’s restructuring plan to withdraw capital from real estate projects as well as its subsidiaries and affiliates to focus on its core business, such as power construction and renewable energy. According to Bao Viet Securities Co., apart from Hue Green Tourism, VNE can transfer assets to other companies, such as Greenmart, Da Nang Green Hotel and real estates in HCM City. VNE has targeted a revenue of VND1.3 trillion and a net profit of VND86 billion this year, up by 63 per cent and 21 per cent year-on-year, respectively. However, the company has so far earned just VND5.5 billion in net profit, equivalent to 6.4 per cent of its annual goal. KDF eyes leadership of frozen foods market KIDO Frozen Foods Joint Stock Company has told its shareholders that it seeks to become the leader of the Vietnamese frozen food market. Speaking at the annual general meeting in HCM City on Monday, Tran Thi Thuy Linh, its deputy general director, said this year the company would explore the three main segments, frozen foods, chilled foods and ambient foods. The potential is huge since the market is now worth over VND18 trillion (US$789 million). The company seeks to increase revenues by nearly 14 per cent this year to VND1.7 trillion ($74 million) and profits by 12 per cent to VND195 billion ($8.5 million). It also plans to diversify its ice cream and frozen dessert products to retain its segment leadership besides exploring the luxury market. In the chilled and ambient food segments, it will introduce more products to meet a range of tastes in various regions. This year, it will also focus on expanding its distribution system. The company plans to pay a dividend of 14 per cent in cash this year and list on the HCM Stock Exchange. The company attributed last year’s success to its efforts to expand the market and introduce new products. KDF was the leader of the ice-cream market with its market share jumping from 38 per cent in 2016 to 40.2 per cent last year as sales grew by 15.7 per cent. Its frozen food sales grew by nearly 77 per cent. Bamboo Capital to focus on core business activities Bamboo Capital JSC has said it will focus on three main business lines in 2018-20, infrastructure, property and renewable energy. Speaking at the annual general meeting in HCM City on June 18, Pham Minh Tuan, the company’s deputy general director, said infrastructure and property projects are expected to bring dramatic profits in the medium term. It has widened provincial roads 830 and 824 in Long An Province and operates them in a joint venture with Bang Duong, he said. In the second half of this year it would deploy some large property projects such as the US$66 million Malibu resort in Quảng Nam Province, the $198.2 million Dragon Bridge in Da Nang (a mixed-use project comprising retail, hotel, office, and luxury apartment spaces) and the $97.8 million Thao Dien apartment in HCM City, he said. Also in the second half the company would start building solar energy plants in Long An and develop new projects such as a 150MW wind power plant in Soc Trang and a solar power plant in Quang Nam, he said. It has tied up with foreign partners and hopes to become a pioneer in the solar field in Viet Nam, he said. In 2018 production and export of products such as outdoor wooden furniture, cassava starch and coffee have greatly contributed to turnover and profit, he said. Bamboo targets turnover of VND1.98 trillion (US$86.8 million) this year, almost the same as last year. Tuan explained that last year Phu Thuan Trading and Services Company contributed VND640 billion ($28.07 million) to the top line, but this year Bamboo had divested its capital at the company as part of its restructure plan. This year after-tax profit is expected to be VND89.43 billion, a 50 per cent increase, he said. TRACODI shareholders set $3.4mln profit goal Shareholders in the Transport and Industry Development Investment Joint Stock Company (TRACODI) approved this year’s business targets at the company’s annual general meeting in HCM City on Friday. The company expects to achieve after-tax profits of VND77.1 billion (US$3.38 million) and revenue of VND1.15 trillion ($50.4 million), up 3 per cent and 5 per cent respectively. Nguyen Ho Nam, the company’s chairman, said manufactured and agricultural products were expected to account for the largest share of sales at around VND450 billion, followed by infrastructure development and real estate with VND390 billion. Mining was expected to contribute VND300 billion, while the rest would come from labour exports and training, he said. The targets are based on the impressive results achieved last year, when profit and revenue reached VND74.95 billion and VND1.095 trillion, up 24 per cent and 32 per cent from 2016. General director Nguyen Thanh Hung said the company would focus on its core business activities: trading in manufactured and agricultural products, infrastructure construction, real estate, mining and labour exports. In terms of infrastructure construction, it would focus on the BT 830C project and social housing in Long An Province, solar power and property projects under parent company Bamboo Capital, he said. Shareholders also approved several other proposals, including paying a 10 per cent dividend for 2017 in shares and a 10-12 per cent cash dividend for this year. Bamboo Capital owns a 50.61 per cent stake in the company. Samsung sees huge sales rise on Lazada Samsung mobilephone sales have grown 11-fold on Lazada Viet Nam in the two years since they tied up, Lazada announced on Tuesday. It said it would become the exclusive distributor of the Korean giant’s new Galaxy J7 Duo. Starting from June 27 the phone will be available at VND5.49 million (US$241) . Between 11am and noon on the opening day the price will be only VND4.69 million ($210). Lazada said buyers can exchange the phone within 30 days and get refunds of up to 80 per cent. It added there would be express delivery of the phones. A programme will be organised at Bitexco Tower in HCM City two days before the phone is sold to showcase it to customers. Samsung Galaxy j7 Duo has dual cameras, 3GB RAM, 32GB storage with expandable storage of up to 256GB and a 3000mAh battery. Made-in-Viet Nam solar power device to export to North Asia IREX Energy joint-stock company, a member of SolarBK Holdings, plans to start exporting made-in-Viet Nam solar panels and equipment to North Asia in 2018. The company said launching a representative office in Nanjing, China, was an initial step to promote the Vietnamese renewable-energy branding in the global solar power market with a long-term co-operative relationship with foreign partners. In 2017, the Vung Tau City-based firm received orders to provide solar power cells, panels, installation, a smart monitoring system (Solar System Operation Centre) and guarantees for customers in North America. IREX solar cells with total capacity of 45MWp were exported to the US, the Netherlands, UK, Singapore, Turkey, Tunisia, Japan, Malaysia, China, Hungary and Poland in 2017. It’s expected that a total 124MWp solar cells and panels will be exported to these markets in 2018. IREX’s high-tech renewable-energy device factory complex was built in Vung Tau City in 2017 with total investment of US$17 million and capacity of 300MWp (photo-voltaic cells) solar cells and 500MWp solar panels per year. The complex, which includes a renewable energy factory and a research and development centre, aims to boost development of the solar industry in Viet Nam. The company has been developing solar-powered water heaters, wind power turbines, solar power-driven sea water filter systems and renewable use solutions. Vietnam, RoK foster business connection The Vietnam Chamber of Commerce and Industry (VCCI)’s Ho Chi Minh City branch on June 19 organised a conference to promote link between enterprises from Vietnam and the Republic of Korea (RoK). During 2015-2017, RoK’s exports to Vietnam surged 60.5 percent while the country’s imports from the Southeast Asian nation scaled up 61 percent. In 2017, two-way trade reached 61.5 billion USD, up 41 percent year on year, including Vietnam’s exports of 14.8 billion USD, a rise of 30 percent over 2016 and its imports of 46.7 billion USD, up 45.3 percent year on year. In the first two months of 2018, the RoK shipped 7.5 billion USD worth of products to Vietnam, a year-on-year surge of 28.1 percent. The RoK is currently the 2nd largest trade partner of Vietnam and the latter is the 4th largest trade partner of the RoK. The East Asian country mostly bought Vietnamese garment and textile products, telephones and spare parts, electronics, aquatic products, wood and wooden products, machines, equipment, footwear, transport vehicles, and fabrics. Meanwhile, Vietnam imported from the RoK cell-phone and computer spare parts, electronic products, fabrics, machines, equipment, chemicals and fertilizers. Both sides have agreed to lift two-way trade to 100 billion USD by 2020, making Vietnam become the 2nd destination for RoK products, just after China. Regarding investment, the RoK is the biggest foreign investor in Vietnam with over 6,760 valid projects which have total registered capital of more than 59 billion USD. Vietnam promotes trade, investment in Algeria The Vietnamese Embassy in Algeria has held a three-day trade and investment promotion programme in Algeria’s western province of Mostaganem, a locality with strength of tourism, maritime services and agriculture. On the framework of the programme, on June 17, Ambassador to Algeria Pham Quoc Tru attended a conference with the participation of 50 enterprises operating in different areas, mostly in tourism and agriculture. The Ambassador introduced to local firms major socio-economic achievements of Vietnam as well as the country’s economic strength and sectors with potential for cooperation, especially tourism, services and agriculture. The diplomat answered questions raised by participating enterprises on procedures related to trade and investment in Vietnam. Ambassador Tru invited Mostaganem firms to attend a tourism promotion conference between Vietnam and Algeria, which is slated for Algiers in September this year. He also called on the firms to engage in trade fairs and conferences on diverse areas such as tourism, aquaculture and agriculture to be held in Vietnam in the rest of the year. At the event, many enterprises showed their interest in strengthening trade and investment cooperation with their Vietnamese peers, while expressing their hope that Vietnam will create favourable conditions for them in accessing the Vietnamese market. Ambassador Tru affirmed that the Vietnamese Embassy in Algeria will create optimal conditions for Algerian enterprises in approaching the market of Vietnam as well as in bolstering trade exchange between businesses of both sides. On June 18, the ambassador and the Vietnamese delegation had a working session with Governor of Mostaganem Mohamed Abdenour Rabhi. The two sides highlighted the sound traditional friendship and partnership between the two countries, sharing their hope to promote economic ties to match bilateral political and diplomatic relations. The two sides pointed to high potential in fostering trade and investment cooperation in various fields, especially tourism and culture. Mohamed Abdenour Rabhi said that he hopes to set up twin relationship between Mostaganem and a coastal province of Vietnam. On the occasion, Ambassador Tru also visited Overseas Vietnamese living in Mostaganem. In 1962, many Vietnamese women followed their Algerian husbands to settle down in Algeria. Hanoi wants to work with German businesses in environment Chairman of the Hanoi People’s Committee Nguyen Duc Chung and a delegation from the capital city are embarking on a working visit to some European countries, arriving in Germany on June 19 as their first stop. In Frankfurt, they had a working session with the Hako Group, one of the leading international manufacturers of cleaning and municipal technology. Hanoi has imported 100 cleaning machines from Hako, which have helped make remarkable environmental changes. Hako representatives informed Hanoi guests of the group’s decision to open a representative office and a maintenance plant in Hanoi. Hanoi’s mayor Chung welcomed Hako’s long-term plan in the city and confirmed that the authority will provide optimal conditions for its opening of a representative office in the city. He expressed his hope that the group will help to bring other major groups of Germany to Hanoi. Chung asked the group to increase its training of a staff running the cleaning machines to maximize their operation. He also wanted the group to join in building an urban management and operation centre as the city is undertaking a strategy to develop smart urban areas. Vietjet offers 1 million cheap tickets Vietjet will give away one million discounted tickets between June 20-22 to celebrate its two newest international routes from Hanoi to Japan’s Osaka, and Nha Trang to Cambodia’s Siem Reap. The airfares, priced from zero dong upwards, will be available from noon to 2pm at www.vietjetair.com. They will be applicable for all domestic and international routes with the flight period starting from August 14 to December 31. However, the travel period for the Nha Trang–Siem Reap route starts from September 21 and the Hanoi–Osaka route starts from November 8. The Hanoi – Osaka route will operate a return flight everyday, taking over four hours per leg. The flight will depart from Hanoi at 1.40am and arrive in Osaka at 7.50am (local time). The return flight takes off at 9.20am (local time) in Osaka and lands in Hanoi at 1.05pm. Meanwhile, the Nha Trang–Siem Reap route will have a return flight everyday, taking around 1 hour and 20 minutes per leg. The flight will leave Nha Trang at 7.25am and arrive in Siem Reap at 8.45am. The return flight will depart at 9.25am in Siem Reap and lands in Nha Trang at 10.45am. Seminar discusses post-harvest technology for mangos A seminar on post-harvest technology for mangos took place in Cao Lanh city, the Mekong Delta province of Dong Thap on June 19. Speaking at the event, Vice Chairman of the provincial People’s Committee Nguyen Thanh Hung said with a total area of nearly 43,000ha and an annual output of 500,000 tonnes, mango is a major source of income for many farmers in the Mekong Delta, notably Hoa Loc and Cat Chu mangos which have been popular at home and exported to the Republic of Korea, Japan, Australia, China and Russia. Among 13 regional cities and provinces, Dong Thap is home to 9,200ha of mangos - the largest area in the region - with an annual output of nearly 95,000 tonnes, making it one of the five major staples in the province, he said. Participants analysed the situation and development orientations for the mango farming sector, saying that the post-harvest losses accounts for over 27 percent. The model of “advanced centre” for mango harvesting, processing, packaging, preservation and transportation was introduced. Domestic and foreign exporters admitted that despite high production, Vietnamese mangos qualified for export remain modest. Post-harvest processing is almost done by hand while transportation costs are high, making it hard for Vietnamese mangos to compete with others from foreign countries. Nguyen Minh Tien, from the Coordinating Office for the National Target Programme on New Rural Development, briefed participants about the “advanced centre” model that was launched in 2017 with the support of the United Nations Industrial Development Organisation (UNIDO). Conducted in Kim Nhung Ltd Company in Cao Lanh city, the model has successfully built a system to process, preserve and package nearly 30 tonnes of mangos per day, the first of its kind in the Mekong Delta to use eco-friendly technology to help mangos navigate demanding markets such as Australia, Russia and the Republic of Korea. Vietnam businesses attend manufacturing expo in Japan Thirty-two Vietnamese businesses operating in the field of mechanical manufacturing and supporting industries have participated in the 22nd Mechanical Components & Materials Technology Expo (M-Tech 2018) that opened in Tokyo, Japan, on June 20. As part of the Vietnam Supporting Industry Development Programme launched by the Ministry of Industry and Trade, the Vietnam Association for Supporting Industries (VASI) and the Hanoi municipal Department of Industry and Trade set up the Vietnam Pavilion at the expo to support Vietnamese exhibitors. They are displaying metal spare parts, electronic, plastic, rubber and automation products which are supplied to multinational corporations in Vietnam or exported. Earlier, they received full aid for booth design and joined training courses on how to join an international exhibition effectively. Commercial Counsellor at the Vietnamese Embassy in Japan Ta Duc Minh said in preparation for M-Tech 2018, the Vietnam Trade Office in Japan popularised the event to Japanese firms working in the mechanical engineering, manufacturing and supporting industries, thereby connecting them with Vietnamese partners. The office is also holding business networking events and update Vietnamese enterprises about information while doing business in Japan. As the largest and most prestigious exhibition on the mechanical manufacturing and supporting industries, M-Tech 2018 featured 2,497 booths by exhibitors from Japan, the US, the Republic of Korea, ASEAN, Europe and China. It will last till June 22 and is expected to draw over 90,000 visitors to seek business opportunities. Project on agricultural modernisation proves effective: PM Prime Minister Nguyen Xuan Phuc appreciated results of a project on agricultural modernisation at a conference to review the implementation of the project during 2013-2017 on June 20 in Hanoi. He affirmed that the project’s products are advanced and high-quality scientific and technological achievements in agriculture which can compete with alike products of other countries, thus helping save import costs, take initiative in production, processing and preservation, and increase the economic efficiency and export value of Vietnamese farm produce. The project has also contributed to generating more jobs, boosting poverty reduction, ensuring social welfare, reducing environmental pollution, and consolidating defence in production zones across the nation, especially in mountainous, border, and ethnic-inhabited areas, he stated. Its outcomes affirm the sound cooperation model between the Defence Ministry and the Ministry of Agriculture and Rural Development, he added. To improve the quality of the project implementation for 2018-2020 and following years, the Government leader asked the two ministries to coordinate with authorised offices to bring into full play forces serving agricultural modernisation, particularly in varieties, cultivation tools, and post-harvest methods and machinery. They were urged to work with the Ministries of Science and Technology, and Finance to give consultations to the Government towards the issuance of regulations assessing and putting into use the project’s products, along with mechanisms to attract businesses and localities to use and develop these products. On this occasion, PM Phuc granted the Feat of Arms Order and Labour Order to several collectives and individuals of the two ministries for their outstanding contributions to the project. Vietnam, Philippines boast potential for further trade cooperation Vietnam and the Philippines boast substantial potential to step up their trade and investment cooperation, heard a workshop jointly held by the two countries’ ministries of industries and trade in Ho Chi Minh City on June 20. Tran Quoc Khanh, Vietnamese Deputy Minister of Industry and Trade, said the friendship and economic, trade and investment links between the two countries have reaped noted achievements, with two-way trade hitting 4 billion USD in 2017, up 22 percent year-on-year. In the first five months of 2018, the bilateral trade revenue hit 1.77 billion USD, a rise of 15.5 percent against the same period last year, the official said. Currently, Vietnam and the Philippines are the fifth largest trade partner of each other in the Association of Southeast Asian Nations (ASEAN). Of note, the Philippines has poured 328 million USD in Vietnam so far this year, ranking 35 out of 126 countries and territories investing in the country. Khanh said, however, the results have yet to match the position and potential of the two countries. He suggested Vietnam and the Philippines should take advantage of their reciprocal export structures, as well as their ASEAN membership to deepen the economic and trade ties. The Vietnamese Government is scaling up efforts to implement concrete measures to improve the domestic business environment and national competitiveness, and create the best possible conditions for foreign businesses and investors to effectively operate in Vietnam, Khanh noted. Ceferino Rodolfo, Undersecretary of the Philippine Department of Trade and Industry, described Vietnam as one of the fast-growing markets, and an attractive destination for many enterprises and investors in Southeast Asia. The two countries still have a lot of potential to turn their trade and investment potential into cooperation opportunities, he said. Philippine firms have regarded Vietnam as a promising market in ASEAN and Asia at large, with such advantages as high, dynamic population and increasing consumption demands, especially for high-quality and personal-care products, according to the official. At the workshop, nearly 20 Philippine businesses operating in the fields of food, consumer goods, and auto-automobile manufacturing engaged in exchanges with some 100 Vietnamese firms to set up partnerships and push trade activities in the future. Banks cut short-term interest amid good liquidity Some commercial banks have continued to reduce the interest rate for short-term deposits by 0.1 to 0.3 percentage points in the past week thanks to good liquidity. Sacombank announced that it has applied new rates from June 15, lowering its annual interest rate for two-month deposits by 0.1 percentage point to 5.2 per cent per year. Techcombank also lowered deposit interest rates for all terms by 0.1 to 0.3 percentage points on May 12. The bank has cut rates for one- and two-month deposits by 0.2 percentage points to 4.6 per cent per year, while the rate for three to five month deposits now stands at 4.75 per cent. It also listed the rate for 6 to 12 month deposits at 5.6 per cent, down 0.3 percentage points. Techcombank’s highest rate of 6.4 per cent per year is currently applied to deposits with a term of more than 12 months. A number of banks, such as Vietcombank, BIDV, Vietinbank, and Eximbank, as well as LienVietPostBank, also lowered their interest rates for short-term deposits last month by some 0.2 percentage points. Experts attributed the decline to the good liquidity of banks. Large withdrawals from the securities and real estate markets, caused by the slowdown of the two markets, have resulted in an increase in bank deposits, experts said. However, lending by banks has been restricted in an effort to control credit growth. The central bank has set a cap of 12 to 14 per cent in credit growth for many banks this year, even as a number of banks reported a credit growth of between 8 and 9 per cent in just the first five months of the year. As a result of these restrictions, banks have decided to gradually reduce deposit rates to save input costs. The deputy governor of the State Bank of Viet Nam, Nguyen Thi Hong, announced that credit growth in the banking system at the end of May increased by 6.16 per cent compared to the end of 2017. The credit structure has now been shifted to the manufacturing sector, especially in priority fields, while loans to sectors that pose high potential risks, such as securities and real estate, have been tightened to ensure the safety of banking system, Hong said. TPBank earns US$97mn by issuing private shares Tien Phong Commercial Joint Stock Bank (TPBank, stock code TPB) has completed the private sale of 87.63 million shares to more than 20 investors, earning nearly VND2.2 trillion (US$96.5 million). In a filing to Ho Chi Minh Stock Exchange on June 18, the bank said 100 per cent of its shares were sold to 21 investors at the price of VND25,000 ($1.10) per share, which was lower than its trading price of VND27,000-VND28,000 per share on the bourse. Seven institutions bought nearly 59 million shares, or 67.3 per cent of the total offer, while 14 individuals purchased the remaining shares. Finnish PYN Elite Fund Management, which manages assets worth 450 million euros (over VND12 trillion), spent nearly VND840 billion to acquire more than 33.5 million shares of TPBank. After the transaction, PYN Elite Fund owns 4.99 per cent of the bank’s charter capital. Singapore’s SBI Ven Holdings Pte. Ltd also bought more than four million shares to maintain its ownership of 4.61 per cent at the bank. This fund has two representatives in TPBank’s management board. A group of four companies (VG Co. Ltd, JB Co. Ltd, SP Co. Ltd and FD Co. Ltd), chaired by Nguyen Thi Thu Nguyet (who is also a member of TPBank’s supervisory board), purchased 13.3 million shares. Saigon Securities Inc acquired eight million shares, equivalent to 1.19 per cent of TPBank’s charter capital. In a related development, TPBank completed the conversion of more than 29.2 million preferred stocks that the International Finance Corporation (IFC) had bought for over VND400 billion in August 2016. With these shares, IFC’s stake in TPBank stands at 4.35 per cent. After the offering, total outstanding shares of TPBank increased from 584.2 million shares to 671.84 million shares, equivalent to a charter capital of VND6.72 trillion. InterContinental Phu Quoc Long Beach Resort opens InterContinental Phu Quoc Long Beach Resort, the latest addition to its brand, opened on June 21. It is the 1,000th property to open within Europe, the Middle East, Asia and Africa. The resort is located on Phu Quoc Island, which includes a UNESCO World Biosphere Reserve off the southwest coast of Viet Nam. One of the most captivating features of the resort is its position on Long Beach, one of Viet Nam’s most stunning white sand beaches with glorious sunset views. The resort is an easy 15-minute drive from Phu Quoc International Airport, and only 20 minutes from the cultural attractions of Duong Dong town. The resort is thoughtfully designed for families, couples and individuals alike, as well as both leisure travelers and meeting delegates. InterContinental Phu Quoc Long Beach Resort features an exclusive beachfront, six restaurants and bars, 459 luxuriously appointed rooms, suites and villas as well as state-of-the-art meeting facilities. It seamlessly combines the sophisticated and cosmopolitan essence of the InterContinental heritage with the heartfelt rustic charm of the resort’s surrounding local area and culture. The resort’s opening special offer starts from VND6,500,000 ++ per room per night, with a minimum two-night stay, including breakfast for two and airport transfers and VND2,500,000 credit to spend at the resort’s restaurants, bars and spa. FPT, Điện Quang to develop smart electrical equipment FPT and Dien Quang Lamp Joint Stock Company, two national brands, signed a co-operation agreement on June 20 to develop smart electrical and lighting equipment using IoT (Internet of Things) technology. FPT will be responsible for developing the entire application control software on mobile devices, coordinating with Dien Quang to write embedded software for collaborative products and building libraries and programming protocols for partners to develop new solutions via a cloud-based platform. Meanwhile, Dien Quang will be responsible for researching and developing hardware, including electronic devices and circuits, as well as for product manufacturing. Speaking at the ceremony, FPT general director Bui Quang Ngoc said promoting the application of new technology, including IoT, was one of FPT’s important strategic orientations. “We have invested, researched and deployed many IoT projects with international corporations to enhance the user’s experience and optimise production... With the software technology capabilities, FPT expects to collaborate with larger equipment manufacturers of Viet Nam to create more value-added services, increasing competitive advantage for businesses,” said Ngoc. Ho Quynh Hung, chairman of the board of directors and general director of Dien Quang Lamp JSC, said with the strength of each party, the company expected the cooperation with FPT to promote the application of advanced technology and create hi-tech products to meet consumers’ demand and improve exports. G-bonds see higher interest rates at latest transaction Government bonds fetched higher interest rates for all maturity terms at the latest auction held on June 20 by the Hanoi Stock Exchange (HNX). A total of 4.3 trillion VND (187.9 million USD) worth of bonds were sold at the transaction out of the 6 trillion VND (262.2 million USD) worth of bonds offered, including 100 billion VND (4.37 million USD) of five-year bonds with an annual interest rate of 3.1 percent, 0.1 percent higher than the interest rate fetched at the previous auction on May 23. For the 10-year bonds, 2.4 trillion VND (104.88 million USD) was raised at an interest rate of 4.35 percent per annum, up 0.03 percent from the previous auction on June 13. Meanwhile, 1.8 trillion VND (78.66 million USD) worth of 15-year bonds were sold at an interest rate of 4.68 percent per annum, up 0.03 percent from June 13. No bonds of 7-year, 20-year and 30-year terms were sold at the auction. According to the HNX, the State Treasury has raised 70.181 trillion VND (3 billion USD) from auctions of Government bonds at the northern bourse. The interest rates of Government bonds have been on the rise lately, after a long period of decline throughout 2017 and the first four months of 2018. The National Financial Supervisory Commission has predicted that the G-bond market in 2018 will see modest changes against last year thanks to the economic growth of more than 6.7 percent and inflation of below 4 percent. The value of G-bonds issued in 2018 is estimated at some 180 trillion VND (7.92 billion USD), with the focus being on long-term maturity and keeping the interest rate at low levels. HCM City opens hi-tech agriculture fair Nearly 200 agricultural businesses from 20 cities and provinces nationwide are participating in a hi-tech agriculture fair in Ho Chi Minh City City on June 21-25. The event aims to introduce new and high-quality varieties, especially targeting southern cities and provinces, to reduce the dependence on imported varieties, especially in the progress of implementing global free trade agreements. The fair houses more than 400 pavilions offering various kinds of plant, aquatic and livestock varieties, agricultural equipment and machine, technology and processed food. According to Director of the municipal Department of Agriculture and Rural Development Nguyen Phuoc Trung, HCM City has built a programme developing high-quality plant and animal varieties since 2000. The city aims to become a centre of production and provision of high-quality plant and animal varieties in the country in the near future, he said. The southern economic hub recorded high agro-forestry-fishery growth in 2017. The gross regional domestic product (GRDP) reached over 8.5 trillion VND (371.8 million USD), a year-on-year rise of 6.3 percent. The sector’s production value was estimated at 19.8 trillion VND (866.2 million USD). In 2017, agricultural firms in HCM City supply the market with around 81,200 tonnes of seeds of all kinds, including 12,109 tonnes of vegetable seeds, along with nearly 1 million piglets, 20,000 calves, and more than 600 million fish fry. To achieve the outcomes, the city has carried out a restructuring programme and shifted to plant and animal varieties with high economic efficiency while boosting investment in hi-tech agriculture, Trung said. A number of contracts supplying, selling products and transferring technology to serve varieties production and hi-tech agriculture were signed at the event. The fair aims to promote cooperation and connectivity among businesses and organisations in developing sustainable production and building a value chain in agriculture from creating varieties to processing and selling products to the market. Brussels workshop talks about EU-Vietnam Free Trade Agreement The Vietnamese Embassy in Belgium, in collaboration with the European Union (EU), the EU-Vietnam Friendship Parliamentians' Group and the European Institute for Asian Studies, held a workshop in Brussels on June 20 to speed up the signing and ratification of the EU-Vietnam Free Trade Agreement (EVFTA). Speaking at the event, Vietnamese Ambassador Vu Anh Quang stressed the positive results of economic, trade and investment cooperation between Vietnam and the EU, calling for the union’s strengthened collaboration with Vietnam and the Association of Southeast Asian Nations (ASEAN). According to him, the EVFTA is a balanced document that benefits both the EU and Vietnam and has big influences on bilateral political, economic, trade and investment ties. The agreement will help EU companies access the 90-million-people strong Vietnamese market, contributing to boosting bilateral cooperation. It will also allow the EU to improve its position and role in Southeast Asia and Asia-Pacific, Quang said. He affirmed that Vietnam commits to ensuring an open and transparent business and investment environment as well as following the regulations of the agreement. Participants at the workshop also lauded the significance of the agreement for both sides. Many said that EVFTA will open up opportunities for the two sides’ enterprises through forming innovative mechanisms to protect investors, and provide conditions for EU small- and medium-sized enterprises to more easily access the Vietnamese market. Ambassador and Head of the EU Mission to Vietnam Bruno Angelet emphasised issues that Vietnam needs to solve to take advantage of the agreement, while suggesting the country protect intellectual property. To boost farm produce exports, Vietnam should obey the EU’s food requirements and the Sanitary and Phyto-Sanitary Agreement, he noted. Member of the European Parliament Jan Zahradil, who is President of the EU-Vietnam Friendship Parliamentians' Group, expressed his belief that the agreement will be approved in the current tenure of the European Parliament. Next week, Vietnamese Minister of Industry and Trade Tran Tuan Anh will travel to Brussels to solve existing technical matters, so that the European Council can sign the agreement and submit it to the European Parliament for ratification. The European Parliament in the current tenure will convene its meetings until mid-April, 2019, so both sides have about 10 months to complete the signing and ratification of the agreement, Zahradil said. VNN |
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Government News 21/6 HCM City voters raise concern over Thu Thiem project  Secretary of the Ho Chi Minh City Party Committee Nguyen Thien Nhan answers voters' queries Thu Thiem new urban area was a “hot” topic in a meeting between Politburo member and Secretary of the Ho Chi Minh City Party Committee Nguyen Thien Nhan and voters in the city’s District 2. Voter Nguyen Hong Thai expressed concerns over several dubious matters related to the Thu Thiem new urban area, from legal issues, coercion to compensation and resettlement. According to Thai, many land owners have their land reclaimed coercively, though they have sufficient legal documents. However, compensation is not enough to buy a resettlement apartment. They even spent an addition of at least 3 million VND (131 USD) per sq.m to buy resettlement apartments. Voter Le Thi Lan said that local residents have completely obeyed the Party’s policies and the State’s law related to the project. However, numerous serious mistakes, including unreasonable coercion of local authorities, have occurred. Meanwhile, voter Nguyen Thi Hong Loan said that her house was also reclaimed, although it is located at Workers’ Housing Estates which are owned by the State and lies outside the planned boundary of the new urban area. “The resettlement through house lease is not fair as well,” she added. Over the past 10 years, local people sent hundreds of petitions to authorities from the municipal to the central levels, but all fall into silence, said voter Nguyen Duc Tu. Voter Nguyen Dinh De stressed the need for the Government Inspectorate to continue clarifying violations at the urban, including the responsibility of the city’s leaders in the previous tenures in directing the implementation of the project. Replying voters’ queries, Nhan affirmed that all houses which are located out of the planned boundary of the project will not be reclaimed. His idea immediately won local residents’ applause. Saying that he had met several people affected by the project before this meeting, Nhan shared concerns of the locals, and hoped that they will back the city’s policies. The city’s leader affirmed that he will continue meeting with Thu Thiem residents until a suitable solution is found. Nhan said many people are living in unsettled houses. The municipal authorities are seeking measures to end the situation and bring people to resettlement areas, he stressed. Ho Chi Minh City considers the project as a top priority to be handled in the time ahead, he said, adding that the Government Inspectorate has recently made draft inspection results which were sent to related agencies for completion before July 15 as directed by Prime Minister Nguyen Xuan Phuc. HCM City enhances trade cooperation with Philippines  Vice Chairman of the Ho Chi Minh City People’s Committee Le Thanh Liem (R) receives Under-Secretary for the Industry Development and Trade Policy Group of the Philippines Ceferino S.Rodolfo The working visit by Under-Secretary for the Industry Development and Trade Policy Group of the Philippines Ceferino S.Rodolfo to Vietnam, including Ho Chi Minh City, will help intensify bilateral trade and investment cooperation. The statement was made by Vice Chairman of the Ho Chi Minh City People’s Committee Le Thanh Liem at his reception for Rodolfo on June 20. Appreciating the growing Vietnam-Philippines Strategic Partnership, Liem said that the two countries are expanding collaboration in the fields they hold potential and coordinating closely at regional and international forums, especially within the framework of the Association of Southeast Asian Nations (ASEAN). He expressed his belief that a business conference between the two countries to be held in the city will be a success, contributing to promoting partnership between their enterprises. Rodolfo affirmed that his visit aims to tighten cooperation between Philippine and Vietnamese businesses, including those from Ho Chi Minh City. The Philippines attaches importance to its ties with Vietnam and wants to step up collaboration with the country, including trade and investment ties with the southern hub, he added. As of May 2018, Ho Chi Minh City had 34 Philippine-invested projects with a total capital of nearly 26 million USD. The country ranked 36th among 96 nations and territories pouring capital into the city. Last year, two-way trade hit 676 million USD, an annual rise of 6 percent. NA Vice Chairwoman meets voters in Son La  National Assembly Vice Chairwoman Tong Thi Phong The issuance of the Law on Cyber Security is sound and essential to prevent risks to cyber security, protect national sovereignty and interests, and ensure legitimate rights and interests of organisations and individuals. National Assembly Vice Chairwoman Tong Thi Phong made the statement during her meeting with voters in Van Ho district in the northern mountainous province of Son La on June 21, given that risks to cyber security safety are increasing, especially in the context of the fourth Industrial Revolution. She stressed that all issues are considered thoroughly to avoid affecting personal freedom. At the meeting, voters in Van Ho district asked the legislature, ministries and Son La province to provide specific guidance to carry out policies and mechanisms supporting poor districts, allocate capital for the district to implement several urgent projects to soon complete infrastructure of its administrative centre such as a road from National Road No.6 to the district centre, a district general hospital, and the district’s boarding school for ethnic students. They also urged authorised offices to suggest the Electricity of Vietnam invest in a road section connecting Tan Xuan commune with Thanh Hoa province’s Muong Lat district so as to facilitate the travel of the two districts and boost their socio-economic development. Acknowledging voters’ ideas, Phong assigned the Son La deputy delegation to classify petitions to submit to authorised agencies for consideration and settlement. On this occasion, Phong and provincial leaders granted gifts to 10 policy beneficiaries in Van Ho district. Vice President Dang Thi Ngoc Thinh active in Laos  Vice President Dang Thi Ngoc Thinh (L) and Chairwoman of the National Assembly of Laos Pany Yathotou Vice President Dang Thi Ngoc Thinh and Chairwoman of the National Assembly of Laos Pany Yathotou expressed their delight at closer ties between the two legislatures during a meeting in Vientiane on June 20. Both sides spoke highly of the sharing of information and expertise between the two legislatures’ units as well as effective cooperation in their external activities, especially at regional and global parliamentary forums such as the ASEAN Inter-Parliamentary Assembly and the Inter-Parliamentary Union. The Vice President suggested working closely together to refine legal regulations in each country as well as oversee law enforcement, supporting necessary changes to mechanisms, policies and laws to boost bilateral trade and investment. Yathotou, for her part, said amidst complicated developments in the region and the world, the Vietnamese and Lao Parties, States, parliaments and people need to strive to uphold long-standing ties, special solidarity and comprehensive cooperation in the fields of politics, diplomacy, national defence-security, economy, trade, investment, culture, education and people-to-people exchange. She lauded the new NA House of Laos as a meaningful gift of the Vietnamese Party, State, NA and people, an invaluable symbol and heritage of the Vietnam – Laos special solidarity. Host and guest agreed to accelerate the construction of the building to ensure its quality and progress. Meeting with President of the Lao Women’s Union (LWU) Central Committee Inlavan Keobounphan the same day, Thinh highly valued ties between LWU and the Vietnam Women’s Union in the cause of promoting gender equality, women emancipation, health care for women and children, and especially educating young generations about maintaining and upholding the tradition of bilateral special solidarity. On the occasion, she congratulated Keobounphan on being awarded the Independence Order, second class – a noble distinction of the Vietnamese State in honour of her contributions to bilateral ties. In the morning the same day, Vice President Thinh laid a wreath at a monument dedicated to unknown martyrs in Vientiane, visited Thatluang pagoda, and presented five sets of computers to a gifted boarding school for ethnic students under the National University of Laos. The school was built in 2006 using non-refundable aid from the Vietnamese government. In the afternoon, she visited headquarters of the Star Telecom company – a joint venture with Vietnam’s military-run telecom provider Viettel. It is now the most modern Internet 4G service supplier with nearly 3 million subscribers, accounting for 52 percent of market share in Laos. Meeting Vietnamese nationals in the embassy, Thinh presented 80 gifts from the National Fund for Vietnamese Children to outstanding Vietnamese students in the country. Bac Lieu urged to tap wind power potential  National Assembly Chairwoman Nguyen Thi Kim Ngan (front, centre) and leaders of Bac Lieu province pose for a photo Bac Lieu should pay attention to the development of wind power to become the first to capitalise on the clean source of energy in the southwestern region, advised National Assembly Chairwoman Nguyen Thi Kim Ngan. Meeting with local authorities on June 20 during her working trip to the province, the top legislator praised local development and acknowledged the Mekong Delta province’s difficulties such as weak socio-economic infrastructure and climate change impacts. She said a national highway is planned to reach Can Tho by 2021 and Bac Lieu after that, suggesting the province upgrade current roads to ensure traffic safety while waiting for the new route. Ngan recommended the local authorities closely follow the Party’s guidelines and Government’s policies and resolution on economic development, particularly the private sector. Bac Lieu should capitalise on its potential for growth and encourage the private sector to do better in the fields of their strength like aquatic farming and fruit tree planting. Highlighting its potential for sea tourism and long-time practice of the art of Don Ca Tai Tu (southern folk music), she said Bac Lieu should combine economic development and the preservation of traditional values. Regarding the fact that the province has 16 out of 49 communes meeting the standards for new-style rural areas, Ngan stressed it does not need to complete the rural building work one year ahead of schedule. Apart from infrastructure construction, creating livelihoods for residents via facilitating the establishment of local businesses is also needed, she said. The NA chief said Bac Lieu should set a goal to reduce its poverty rate to 3 percent from the current 8.43 percent, with attention paid to the rate of households becoming poor again after escaping poverty and the implementation of preferential policies targeting ethnic people and those living in mountainous and remote areas. Local economic development must take into consideration people’s benefits, she said, asking the authorities to boost communications campaigns to raise public awareness of the Party’s policies and the State’s laws. The same day, Ngan paid a visit to the high-quality shrimp farming complex of the Viet – Uc Seafood Corporation, which spans 315 ha in Hiep Thanh commune, Bac Lieu city. It is set to become a concentrated material area for production and processing for export, contributing to turning Bac Lieu into a hub of Vietnam’s shrimp industry. The NA Chairwoman also visited a coastal wind power plant in Vinh Trach Dong commune, Bac Lieu city, the biggest energy project in the locality. The plant became operational in early 2018 with a total capacity of 99.2 MW. As part of her working visit to Bac Lieu, Ngan visited and gifted local policy beneficiary families. Cambodian Deputy PM visits historical sites in Binh Phuoc  Cambodia’s Deputy Prime Minister Tea Banh visits a relic site in Binh Phuoc province on June 20 Cambodia’s Deputy Prime Minister Tea Banh has affirmed that Vietnam’s wholehearted assistance during wartime helped Cambodia defeat the Pol Pot genocidal regime and regain peace. Deputy PM Tea Banh, who is also Minister of National Defence, made the remarks during his talk with local residents in Loc Tan and Loc Thanh communes in Loc Ninh district as he visited several historical sites in southern Binh Phuoc province on June 20 to mark 41 years of “the path to overthrow the Pol Pot genocidal regime.” The Cambodian delegation called at places where Cambodian Prime Minister Hun Sen hid his weapons, met the first Vietnamese person who led him to local militia and enjoyed his first meal in Vietnam 41 years ago. Deputy PM Tea Banh thanked the Party Organisation, administration and people of Binh Phuoc in general and Loc Ninh district in particular for building a communal house in Thanh Tay hamlet with funding donated by PM Hun Sen, and preserving his keepsakes at the house. These are important keepsakes of the Cambodian people during their struggle to topple the Pol Pot genocidal regime for the country’s revival, he said. Secretary of the Party Committee of Loc Ninh district Tran Thi Anh Tuyet congratulated the Cambodia leaders and people on the 41st anniversary of “the path to overthrow the Pol Pot genocidal regime.” She also affirmed that fine relations between Vietnam and Cambodia as well as between Binh Phuoc and Cambodia’s border provinces will be lasting forever. Before visiting the historical sites, Deputy PM Tea Banh had a talk with military officers, officials and people of Vietnam and Cambodia. PM meets veteran journalists on revolutionary press day  Prime Minister Nguyen Xuan Phuc (front, fourth, right) and representatives of press agencies pose for a photo at the meeting in Hanoi on June 20 Prime Minister Nguyen Xuan Phuc met with veteran journalists and leaders of media agencies across the country in Hanoi on July 20 on the occasion of the 93th anniversary of the Vietnam Revolutionary Press Day (June 21). The PM highlighted that over the past 93 years, under the leadership of the Communist Party of Vietnam, the Vietnam revolutionary press has been a major force playing an important role in the field of ideology and culture. The sector has achieved great progress over the past years and made significant contributions to the revolutionary cause of the Party as well as the national construction and defence, he said. The Government leader praised the press sector for reporting on the domestic and world situation in a full and timely manner, covering all aspects of life and society and discovering new factors and effective models in various fields. The media has honoured good examples and countered wrongful arguments and distorted information, contributing to fighting corruption, wastefulness, protecting the national sovereignty, promoting external relations, and combating degradation in morality and lifestyle, thus strengthening social consensus, noted the PM. Accompanying the cause of renewal and national development, the Vietnam revolutionary press has developed diverse media forms, including printed newspaper, radio, television, e-paper, and multimedia, he said. With a strong force of nearly 850 media agencies and more than 18,000 reporters having press cards, and a Vietnam Journalists’ Association with more than 22,000 members, the Vietnam revolutionary press has been a vanguard force on the ideology battlefield. Many journalists have set bright examples in devoting their life for the national construction and defence. “We are deeply moved by the many journalists who died or get injured while performing their job in peaceful time, most recently Dinh Huu Du from the Vietnam News Agency who died when covering flood and storm situation in Yen Bai,” stated the PM. He also expressed hope that media agencies will show better performance in implementing their tasks of communications assigned by the Party, State and people. PM Phuc stressed that the current domestic and world situation requires journalists to continue renovating and exerting more efforts in order to keep their role and position in guiding public opinion and contributing more to the national construction and defence in the new period. In the context of deeper international integration of the country and strong development of the information and communication technology, media staff should quickly get access to new communications technology and methods. “The press, in any forms, should be sharp-witted and keep updated on new technology,” he added. Zimbabwe, Vietnam should build on traditional ties: President  Zimbabwean President Emmerson Mnangagwa (R) and Vietnamese Ambassador to South Africa and Zimbabwe Vu Dang Dung Zimbabwe and Vietnam should further promote their traditional relationship and gradually turn it into special cooperative ties, especially in trade, investment and education, Zimbabwean President Emmerson Mnangagwa has said. The Zimbabwean leader made the suggestion during a reception on June 19 for Vietnamese Ambassador to South Africa and Zimbabwe Vu Dang Dung when the Vietnamese diplomat presented his letter of credentials to him. At the meeting, Mnangagwa affirmed that his country and Vietnam are always comrades and brothers in their struggles for national liberation in the past and in the process of national construction and development at present. For his part, Ambassador Dung conveyed President Tran Dai Quang's invitation to visit Vietnam to the Zimbabwean President. He said that Vietnam always cares about the stability and development of Zimbabwe, and wished the country success in its upcoming general election. The Vietnamese diplomat informed the host about the outcomes of his meeting with Zimbabwean Minister of Foreign Affairs and International Trade Sibusiso Moyo on June 18. Accordingly, Zimbabwe supports Vietnam’s candidacy for a non-permanent seat in the United Nations Security Council in 2020-2021. It also backs Vietnam’s stance that all disputes in the East Sea should be solved by peaceful means through negotiations and diplomatic and legal processes, with full respect for international law, including the 1982 United Nations Convention on the Law of the Sea (1982 UNCLOS), and the strictly enforcement of the Declaration on the Conduct of Parties (DOC), towards the early conclusion of the Code of Conduct in the East Sea (COC). The two sides agreed to hold negotiations towards the signing of an agreement on visa exemption for diplomatic and official passport holders of the two countries; and consider granting visa at border gates for Vietnamese tourists. The Vietnamese Ambassador suggested upgrading the bilateral cooperation mechanism between the two countries’ foreign ministries from the Working Group level to the deputy ministerial level Partnership Forum to foster the bilateral ties. Vietnam, Japan to bolster parliamentary ties, promote CPTPP  Chairman of the National Assembly’s Committee for External Affairs Nguyen Van Giau (left) and Japanese Foreign Minister Taro Kono. Chairman of the National Assembly’s Committee for External Affairs Nguyen Van Giau visited Tokyo on June 19 and 20 to tighten cooperation with the Japanese legislature on a range of issues, including economic ties and the ratification of the CPTPP. The official had working sessions with Chairman of the Committee on Foreign Affairs of the Japanese House of Representatives Yasuhide Nakayama, Foreign Minister Taro Kono, and Cabinet minister in charge of the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP) Toshimitsu Motegi during the stay. During the meetings, both sides shared the view that the bilateral relationship is developing fruitfully within the framework of the extensive strategic partnership, for peace and prosperity in Asia. They took note of Japanese Prime Minister Shinzo Abe’s visit to Vietnam on the occasion of his attendance at the Asia-Pacific Economic Cooperation (APEC) Summit in 2017, the official visit to Vietnam by Emperor Akihito and Empress Michiko last year and the most recent visit to Japan by President Tran Dai Quang in May 2018. The two sides agreed to reinforce the friendship and comprehensive cooperation in the time to come. Giau underlined that the bilateral economic-trade cooperation is at its best ever, with Japan being the top economic partner of Vietnam. Two-way trade exceeding 33.4 billion USD in 2017, and Japan’s direct investment in Vietnam, at over 9 billion USD, made up 25 percent of the total foreign direct investment (FDI) poured in the country that year. As of the end of 2017, Japanese investors had run 3,700 FDI projects worth 50 billion USD, he said, noting symbolic projects like Can Tho and Nhat Tan bridges, and projects on upgrading Noi Bai and Tan Son Nhat international airports. Apart from the enhanced collaboration in education, training, employment and people-to-people exchange, the bilateral legislative ties have also been stepped up, as reflected through high-level visits by leaders of the two legislatures, exchanges between parliamentarians, and mutual support at multilateral inter-parliamentary forums. The Japanese side said the legislative ties have become an important factor contributing to the comprehensive cooperation. Japan also affirmed support for stronger cooperation with Vietnam, with attention paid to economy, trade and high-quality personnel training. Japanese officials expressed their backing of the viewpoints and stance of Vietnam and the Association of Southeast Asian Nations (ASEAN) regarding the East Sea issue, emphasising the need to maintain freedom, security and safety of navigation and aviation on the basis of respect for international law. Chairman of the Committee on Foreign Affairs of the Japanese House of Representatives Yasuhide Nakayama described Giau’s visit as a new step forward in maintaining and developing the bilateral legislative ties and concretising agreements reached by leaders of the two legislative bodies in 2015 and 2017. Regarding the CPTPP, the two sides agreed that the signing of the deal is an important event bearing great significance for curbing the spreading trend of trade protectionism. They said the ratification and implementation of the agreement is expected to create a strong boost for regional and global trade. Giau lauded the pioneer role played by Japan, the second country to ratify the deal, and asked Japan to share its experience with Vietnam in the ratification process and provide technical support for Vietnam in implementing the pact. Foreign Minister Taro Kono appreciated Vietnam’s efforts and Vietnam-Japan cooperation during the process of negotiation and signing the CPTPP, and stressed the importance of free trade and free navigation in the region and the world. The Vietnamese NA official also discussed with his Japanese hosts the role of the parliament’s committee for foreign affairs in supervising the implementation of bilateral agreements and international deals to which both countries are members. VNN |
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Female MC wears bikini to host World Cup program on Vietnamese pay TVThe MC toed the line between risqué and absurdity by pretending the thin white towel around her hip was hiding her tiny two-piece
This screenshot shows an emcee in a pretty sexy black bikini in a program on Vietnamese pay TV K+. A Vietnamese satellite television station definitely missed a learning opportunity by ignoring the heavy criticism drawn by state-run VTV (Vietnam Television) for invitingscantily clad girls with little-to-no football knowledge to offer ‘commentary’ on the 2018 FIFA World Cup. Pay TV K+ might have missed the mark when they chose to air “Tien Tri Nuoc Nga” (Russian Prophet), a pre-match program featuring a seal which predicts the score of each match. But fear not. If a seal predicting a football match isn’t bizarre enough, you can always focus on the emcee and her miniscule bikini. It’s a classic combination: football, sea creatures and bikinis…right? Each day, K+ films the prediction at an indoor swimming pool where the seal chooses the flag of one of the two countries in the upcoming match to win the game. The seal can also choose a white flag to signify its prediction for a tie. The program is being broadcast daily during the network’s 11:30 am Sports News program from June 14 to July 15 on K+ and live-streamed on its Facebook page. Ahead of Wednesday’s game between Portugal and Morocco, Thu Hang, the program’s MC, appeared confident and poised as she stood in her tiny black bikini, holding a miniature globe next to a child-sized basketball hoop while discussing a sea creature’s prediction for a highly anticipated football match. The two-piece swimsuit probably could not have been any smaller, so the female wrapped a see-through white cloth around her hip in what appears to be a half-hearted attempt at modesty.
Commenter on a Facebook video of the program posted to K+’s Facebook were unsurprisingly significantly more opinionated on Hang’s outfit choice than the sea dog’s prediction on who would win the match. “I come here every day because of the MC,” read one comment, earning 57 likes and reactions. “Overdone breast-contour,” another commented. “Actually, I don’t care about the sea dog, I just like looking at the MC,” one chimed in. The video received a total of 874 shares and 589 comments as of this article’s publication. Despite the rude comments, the MC continued swapped out her black bikini for an even smaller orange swimsuit for Thursday’s Argentina – Croatia. The scenes where she sat or stood in the revealing tiny pieces of cloth somehow managed to top her risqué performance from the previous day. The video, after being uploaded on the Facebook page of K+, was again hit with hundreds of comments about on the MC's body, many of which are too ill-mannered to be reprinted byTuoi Tre News. Those who opted away from rude comments weren’t shy in voicing their offense to the program, with one commenter posting “Why does K+ make its MC dress like that on a broadcast? I cannot understand your way of thinking.” “Stop this nonsense,” another Facebook user suggested.
Previously, the MC had appeared on the June 15 edition of the show in a modest long-sleeve trainer's jacket. The video of that day’s edition received a mere 33 shares and nine comments. Addressing the controversy over the MC’s revealing outfits, a representative of K+ told Tuoi Tre that the MC is an experienced host for the network and denied the ‘beauty-guest’ format of the show. “The program is shot at the swimming pool and the MC may have to jump into water to play with the seals during the recording, so swimwear is totally suitable for scene,” the representative asserted.
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BUSINESS IN BRIEF 23/6 Brussels workshop focusses on EU-Viet Nam FTA The Vietnamese Embassy in Belgium held a workshop in Brussels on June 20 to speed up the signing and ratification of the European Union (EU)-Viet Nam Free Trade Agreement (EVFTA). The workshop was held in collaboration with the European Union, EU-Viet Nam Friendship Parliamentarians’ Group and European Institute for Asian Studies. Speaking at the event, Vietnamese ambassador to Brussels Vu Anh Quang highlighted the positive results of economic, trade and investment cooperation between Viet Nam and the European Union and called for the Union’s strengthened collaboration with Viet Nam and the Association of Southeast Asian Nations. According to him, EVFTA is a balanced document that benefits both Viet Nam and the European Union and has large influences on bilateral political, economic, trade and investment ties. The agreement will help EU companies access the 90-million-strong Vietnamese market, contributing to boosting bilateral cooperation. It will also allow the European Union to improve its position and role in Southeast Asia and Asia-Pacific, Quang said. He affirmed that Viet Nam was committed to ensuring an open and transparent business and investment environment as well as following the regulations of the agreement. Participants at the workshop lauded the significance of the agreement for both the sides. Many said EVFTA would open up opportunities for the two sides’ enterprises through innovative mechanisms to protect investors and provide conditions for the European Union’s small- and medium-sized enterprises to more easily access the Vietnamese market. Ambassador and head of the EU Mission to Viet Nam, Bruno Angelet, pointed out the issues that Viet Nam needed to solve to take advantage of the agreement while suggesting the country protect intellectual property. He said to boost farm produce exports, Viet Nam should follow the European Union’s food requirements and the Sanitary and Phyto-Sanitary Agreement. Member of the European Parliament, Jan Zahradil, who is also the president of the EU-Viet Nam Friendship Parliamentarians’ Group, hoped the agreement would be approved in the current tenure of the European Parliament. Next week, Vietnamese minister of industry and trade Tran Tuan Anh will travel to Brussels to solve existing technical matters so that the European Council can sign the agreement and submit it to the European Parliament for ratification. In its current tenure, the European Parliament will convene meetings until mid-April 2019, so both the sides have some 10 months to complete the signing and ratification of the agreement, Zahradil said. Cassava exports to Japan surge
 Farmers harvest cassava in An Cơ hamlet in Tây Ninh Province’s Châu Thành District. Việt Nam’s cassava exports to Japan surged in the first four months of the year to 10,100 tonnes worth US$2.42 million. These represented increases of 379.4 per cent and 263.8 per cent year-on-year. But figures from the General Department of Customs show that the country’s overall cassava exports declined by 26.7 per cent to 1.09 million tonnes though their value remained virtually unchanged at $369 million. This was because the average export price was 37.3 per cent up at $338 per tonne though in Japan it fell by almost a fourth to $239. China remained the biggest importer buying more than 980,000 tonnes though its imports were down 26 per cent. Exports to Malaysia, the Philippines and Taiwan saw declines both in terms of quantity and value. Wood exports hit US$3.3 billion in 5 months Exports of wood and timber products continue its upward trend, showing through their export value hitting US$3.3 billion in the first five months of this year, a year-on-year rise of 8.2%. Four major importers alone, namely the US, China, Japan and the Republic of Korea, accounted for 78.1% of the total export value. The US topped the importers with a value of US$1.1 billion (up nearly 10%), followed by China with US$367.3 million (up 2.8%), Japan with US$350.7 million (up 2.3%) and the RoK with US$288.8 million (up 45.3%). However, Nguyen Quoc Khanh, chairman of the Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA), warns that the US, as the largest importer of Vietnamese wood and timber products, has reduced the corporation income tax from 35% to 25% to encourage domestic production although it offers preferences for imported goods, especially Vietnamese timber products. Therefore, domestic businesses should avoid shipping products that are growing well in the US. Currently, Vietnam boasts a strong furniture industry. Exports of most timber products have achieved a quite high growth as global demands are rising. According to Statistics Canada, the country’s imports of wood furniture from China, the US and Vietnam jumped strongly in the first months of this year. Vietnam got the highest value, which accounted for 12.6% of Canada’s total imports of the products. Meanwhile, Japan decreased wood and timber imports from China but raised that from Vietnam in both volume and value. It shows a quality improvement of Vietnamese products which are gradually meeting requirements of the market. Vietnamese businesses should ensure a legal and sustainable sourcing and use of wood. The overall picture of the wood sector in 2018 and the next years is bright. In addition, domestic businesses are dynamic in market expansion. However, they should grasp the opportunity of global changes in wood production to help the wood sector fulfill its set target, says Mr Khanh. Vietnam’s Coffee King comes down from the mountain The CEO of Vietnam’s top coffee brand, Trung Nguyen, put in a surprise appearance at a recent company event, after “disappearing” for almost five years. Dang Le Nguyen Vu, known as the Coffee King of Vietnam, had stayed away from public eye amidst a lengthy divorce process with his wife that is yet to end. Vu, who had nurtured Trung Nguyen Coffee and taken it to 60 international markets, amazed participants at the company event by turning up without prior notice. The CEO exhorted Trung Nguyen’s leaders and staff to do everything differently from other companies in the world. “Brothers and sisters, you have to start by revolutionizing yourselves,” he said in a short speech. Trung Nguyen must aim to become the number one coffee brand in the world, establishing its presence everywhere, he said. Vu said he had spent the last five years meditating up in the mountains and now had answers to “all the questions in this world.” The unannounced appearance of Vu has gathered a lot of public and media attention, particularly because his wife, Le Hoang Diep Thao, recently accused four leaders of Trung Nguyen Coffee for misusing their power to manipulate her husband’s company while he was away. Thao, who owns another coffee brand, King Coffee, said that incorrect information had been spread on social media to slander her husband, who was too sick to appear in public. “These leaders did this to manipulate Trung Nguyen for their personal gain,” she said. The divorce proceedings between Vu and Thao, who used to be the deputy director of Trung Nguyen, had also caught public attention in 2015, when they took each other to court, each accusing the other of obstructing the company’s operations. Vu and Thao have also been embroiled in a lengthy and costly legal battle for years over the ownership of Trung Nguyen Group, which has a charter capital of VND1.5 trillion (US$65.8 million). Thao was a minority shareholder of the company until Vu ousted her in 2015. The court has not officially settled the divorce petition. US-China trade war to help or hurt Vietnam’s economy? The trade dispute between the US and China, two of Vietnam’s top trading partners, could leave both positive and negative impacts on the country, as well as other Southeast Asian nations, business insiders and experts forewarned. With many Vietnamese products being part of China’s value chain, it is certainly that Vietnam cannot avoid the cascading effect from the trade war between these two biggest economies in the world, according to experts interviewed by Tuoi Tre (Youth) newspaper. It is therefore suggested that not only Vietnamese enterprises but also the government be prepared to confront and deal with different situations that may follow the US-China ‘trade war,’ which officially broke out on Friday as the States announced a 25% tariff on US$50 billion of Chinese goods. More than 800 exports, worth about US$34 billion, will be subject to tariffs starting on July 6. Another 280 or so still need to undergo a public comment period, and will take effect later. US President Donald Trump also threatened to raise the value if China retaliates. On the same day, China immediately introduced countermeasures of the same scale and strength by imposing its own 25% tariffs on 545 categories of US products worth US$34 billion from July 6. With China facing escalating retaliation from the US, Vietnam could serve as an alternative supplier of several commodities, which the Southeast Asian country has advantage in, for its northern neighbor. According to a representative from Handicraft and Wood Industry Association of Ho Chi Minh City (HAWA), Vietnam’s wooden products and furniture will become more competitive, with wooden products among items to be affected by the tariff war, and made-in-China wooden products are facing anti-dumping lawsuits in the US. China is the biggest exporter of wooden products to the US, and Vietnam stands just three places behind. Vietnam’s wood industry could achieve higher growth if local businesses can grab the opportunity that may open up when the US shifts purchase from China to Vietnam, according to experts. Amid the battle of tariffs between the US and China, any disruption to supply and distribution chains could have a lasting impact. In the worst-case scenario, companies currently operating in China may have to relocate their factories or distribution centers to reduce the impact from the US tariffs on China. This is a chance for Vietnam, as an export-oriented economy, to strive to attract investors and emerge as an attractive alternative destination for manufacturers who want to restructure their supply chains. In reality, Vietnam's exports to the US saw an increase of 14.65% year-on-year, accounting for 39.7% of total exports in the first two months of 2018, while the tit-for-tat exchange of tariffs between the US and China was still an egg of a trade war. If the US imposes broader tariffs on China, it will affect the cross-border supply chain. Vietnam, a supplier of inputs for many of Chinese exports, will also be hurt as a cascading effect. This will be true for every economy that is part of the US-China value chain. On the other hand, China-based firms facing higher tariffs will redirect their raw materials exports towards Vietnam to hide the origin of their Chinese-made products to avoid tariffs. This practice will affect the local industries in Vietnam, evidenced by the case of steel originated in China but were exported from Vietnam. Last month, the US Department of Commerce decided to levy import tax on steel produced in Vietnam using Chinese-origin materials. Besides, economic experts say that China's high inventories of goods due to trade disputes with the United States may cause the country to apply dumping on neighboring markets. Nguyen Tat Thang, general secretary of the Animal Husbandry Association of Vietnam (AHAV), on the other hand expressed concerns that the US-China trade tensions will delay the signing of a veterinary agreement between Vietnam and China. As a result, the possibility of exporting livestock products from Vietnam to its most potential market will be decreased. To minimize the risks arising from trade disputes, Vietnam has to focus on increasing their market access. Vietnam is already a signatory of numerous free trade agreements (FTA), with two more major trade pacts coming in effect in the near future, Comprehensive Progressive Trans-Pacific Partnership (CPTPP) and EU-Vietnam free trade agreement (EVFTA). This will give Vietnam an opportunity to increase their exports to alternative markets. However, Vietnam suffers from under-developed supply chains, heavy reliance on imports of raw materials, and lack of supporting industries. It has to focus on removing these obstacles to not only survive trade wars, but also fully realize the benefits of those upcoming FTAs. Vietnam, RoK foster business connection The Vietnam Chamber of Commerce and Industry (VCCI)’s Ho Chi Minh City branch on June 19 organised a conference to promote link between enterprises from Vietnam and the Republic of Korea (RoK). During 2015-2017, RoK’s exports to Vietnam surged 60.5% while the country’s imports from the Southeast Asian nation scaled up 61%. In 2017, two-way trade reached US$61.5 billion, up 41% year on year, including Vietnam’s exports of US$14.8 billion, a rise of 30% over 2016 and its imports of US$46.7 billion, up 45.3% year on year. In the first two months of 2018, the RoK shipped US$7.5 billion worth of products to Vietnam, a year-on-year surge of 28.1%. The RoK is currently the 2nd largest trade partner of Vietnam and the latter is the 4th largest trade partner of the RoK. The East Asian country mostly bought Vietnamese garment and textile products, telephones and spare parts, electronics, aquatic products, wood and wooden products, machines, equipment, footwear, transport vehicles, and fabrics. Meanwhile, Vietnam imported from the RoK cell-phone and computer spare parts, electronic products, fabrics, machines, equipment, chemicals and fertilizers. Both sides have agreed to lift two-way trade to US$100 billion by 2020, making Vietnam become the 2nd destination for RoK products, just after China. Regarding investment, the RoK is the biggest foreign investor in Vietnam with over 6,760 valid projects which have total registered capital of more than US$59 billion. Data analytics and artificial intelligence boost business operations To help businesses address the challenge of transforming large volumes of data into actionable insights to support business operations, PwC Consulting Vietnam today joined Eurocham and Microsoft Vietnam to organise a workshop themed “How can analytics and artificial intelligence drive new revenue streams for businesses.” Top regional experts from PwC and Microsoft shared current trends in data analytics and artificial intelligence (AI) and revealed how these technologies can help businesses gain more insights internally and externally. Sales transactions, customer interactions, and other business activities are generating vast amounts of structured and unstructured data everyday. According to International Data Corporation (IDC), data production is expected to double in volume every two years for the next decade. However, only 0.5 per cent of all data is ever analysed and used. Data analytics’ purpose is to analyse and conclude valuable insights from these enormous volumes of data to support businesses’ decision-making and influence the future performance of the organisation. Meanwhile, AI is increasingly finding use in many industries, including manufacturing, logistics, transportation, and finance and banking, among others. For instance, AI can help organisations to automate non-value adding processes, identify fraudulent claims and invoices, steer self-driving vehicles in logistics, and drive customer interaction and engagement via mobile channels. Companies operating in sectors like energy, maritime, real estate, and mining can use video analytics to detect intrusions, identify abandoned objects, evaluate traffic flow density, and enable facial and character recognition. According to Scott Albin, South East Asian Consulting Data and Analytics leader at PwC, data is the heart of a business and leaders need to embed this thinking into their organisations. “Using analytics and AI can add value to every part of the value chain and to every area of business decision-making.” “For example, it can help organisations reduce machine downtime—therefore improve equipment efficiency and optimise the supply chain. Data analytics solutions can also enable increased profitability across the value chain, especially in FMCG and retail industries,” said Albin. There is an evident gap between the need for insights from analytics and the capability to deliver those insights. According to PwC’s 2017 Industry 4.0 survey report, business leaders are well aware of the importance of data analytics in decision-making processes. However, 74 per cent of respondents do not have advanced data and analytics capabilities and only 14 per cent have a dedicated department for data analysis serving many functions across the company. Meanwhile, the lack of skilled technical resources to manage the systems, high costs, and concerns over data and personal privacy are among the key obstacles holding back business leaders from successfully integrating analytics and artificial intelligence in their organisations. Albin advised that organisations should embark on a data analytics journey which roughly comprises of four stages. First, companies should assess the value which exists in their data and assure that the data can be trusted. Companies should focus on identifying the insights hidden in their data. Second, companies need to prove that the insights can be turned into actionable changes and initiatives which have a clear benefit. Third is to scale it so the insights from the data can be delivered to the right people at the right time. Fourth is to repeat this process, since analytics can be applied to many different fields of an organisation. “We have worked with many clients to embed data analytics in their way of working,” said Albin. “This transformation is by no means an easy task and it could take months and even years to get there. Yet there are many great tools and methodologies available to help businesses to get started on their journey to unlock the full power of data.” Companies are also recommended to build a governance structure that enables them to develop and maintain necessary practices and capabilities to manage data more effectively. Satra launches first food convenience store at hospital Saigon Trading Group (Satra) on June 19 opened its food convenience store at the Pediatrics Hospital No. 2 at 14 Ly Tu Trong, Ben Nghe Ward, District 1, Ho Chi Minh City. This is the first store to be inaugurated at the hospital and will serve patients and their relatives, as well as healthcare specialists and staff. The store will stock items such as diapers, milk, nutritious products and toys due to its special location. Besides this, a wide range of key Satra product lines will be on sale including Vissan meat, high-grade seafood, vegetables, tropical and cold-hardy fruits and processed foods that are in full compliance with food origin, safety and hygiene regulations. Satra reportedly expects to open a food court next to its convenience store at the hospital to supply wholesome meals for visitors. The Satra food store and food court concept will be adopted at multiple hospitals across the city, a Satra representative said. Earlier, three Satra food stores opened for business in Binh Tan District’s Binh Tri Dong A Ward, Tan Tao Ward and Binh Hung Hoa B Ward in the first half of June. The group plans to inaugurate its 187th store in District 8 this month and is targeting a further 26 outlets by the end of 2018. The HCMC-based company has launched 30 Satra food stores in total since the start of the year, mainly located on the outskirts of the city, and has achieved 50% of its target for 2018. Store expansion to the suburbs as well as hospitals is a step into a niche market where Satra has yet to face serious competition. The stores in the suburbs have seen consumption surging, the representative added. Preventive measures to deal with trade defence When tariff barriers are reduced, there is a trend among some nations to strengthen trade protectionism for their domestic industries by applying trade defence measures. Experts warn businesses to take preventive measures to avoid losing export markets in the coming time. According to the Department of Trade Defence under the Ministry of Industry and Trade, Vietnam has faced a total of more than 130 trade safeguard lawsuits, including 77 anti-dumping lawsuits, 10 anti-subsidy investigations, 22 self-defence investigations and 17 tax avoidance and evasion investigations. Most of these cases have been lodged by the US, Turkey, India, the EU and Australia. Steel products like cold-rolled steel have been selected for regular investigation, with 30 lawsuits having been launched. Many nations in the world have erected barriers such as trade defence instruments to restrict free trade. Ms Tran Lan Huong from the Department of Trade Defence points out that five trends of trade defence lawsuits will be applied. Firstly, class action lawsuits have become popular practise, which means that a lawsuit is filed by numerous nations at the same time. Products subject to trade defence investigations are closely associated with the goods of other nations, which have posted higher export turnovers. The second trend is in lawsuits against tax avoidance and evasion. All cases of tariff avoidance for Vietnam relate to accusations of avoiding taxes from China. Therefore, when the tariffs were imposed on China, Vietnamese businesses have faced risks of competing fiercely with the products in markets which slap duties on China. MsHuong says when the incident has happened to China, similar incidents will also happen to Vietnam over the next two years in the form of anti-dumping, tax avoidance and evasion. The third trend is the domino lawsuit. When a country files a lawsuit, other nations will follow their lead and lodge further lawsuits. This means that when Vietnam is sued on one market, it is not certain that the nation will escape lawsuits from other markets. Many businesses think that their products are exported to multiple markets and if the US investigates their products and imposes duties, they will easily drop this market. However, businesses are unable to foresee whether or not their products will be subject to lawsuits in their remaining markets. The fourth trend is the double lawsuit and anti-dumping and anti-subsidy lawsuits are launched at the same time. These measures are taken by major countries or economic areas such as the US, EU, and Canada. Ms Huong says there is a worrying trend that foreign nations have conducted investigations by imposing measures to limit imports due to national security. Phan Khanh An from the Department of Trade Defence says businesses can lose their markets if lawsuits are filed. For example, the US imposed countervailing duties on imports of steel nails from Vietnam in 2014. As a result, their export value fell from U$36 million to US$800,000 in 2015. Vietnamese stainless steel pressure pipes also suffered anti-dumping duties from the US in 2013, leading to their export value dropping from US$178 million to US$87 million in 2014 and 2015. Brazil also slapped anti-dumping tariffs on Vietnamese tyre exports in 2012, leading to the export value plummeting from US$5.7 million to US$1.9 million in 2013 and US$650,000 in 2014 and just US$575,000 million in 2015. The figure has shown that trade defence measures can block products from penetrating markets and seriously affect export businesses, says Mr An. Huong warns that businesses need to avoid these cases by diversifying their export markets to curb their losses. In markets which have applied trade defence instruments like the US and India, businesses should learn more about their laws and regulations and discover whether these nations have previously imposed trade defence measures on any nation. When the lawsuit is filed, businesses need to deal with the incident by all means. The Ministry of Industry and Trade recommends businesses consider hiring lawyers to provide consultancy on trade defence measures, which involve complicated issues related to economics, accountancy, finance and law. Businesses need to gain insights into agencies’ methods of investigation to properly prepare documents for any lawsuits. Lastly, businesses need to identify their strategy and targets, as they can lose costs in such lawsuits but can prevent similar incidents in other markets in future. At the same time, the ministry advises businesses to reinforce solidarity and cooperation to deal with the similar cases, as foreign nations have imposed tariffs on the Vietnamese market, not specific businesses. Rise in rubber imports as value falls Vietnam imported 244,000 tons of rubber worth US$439.9 million during the first five months of this year, up 21.6% in volume but down 2% in value against the same period last year, according to the General Department of Vietnam Customs. The average import price dropped by 19.3% to US$1,082.9 per ton. After seeing a decline in April, imports of the product began to grow in May, rising 25.7% to 50,100 tons with value up 25.3% to US$92 million. Vietnam mainly bought rubber from Southeast Asian countries, accounting for 34.4% of total imports. The Republic of Korea and Thailand were the two largest suppliers of rubber to Vietnam, trailed by Cambodia. Despite modest imports, Canada was the market with highest growth, ballooning 9-fold to 228 tons, with value rising 800% to US$548,400. Conversely, rubber imports from France fell sharply by 47.89% to 593 tons. In addition, imports from Malaysia and Indonesia jumped 49.76% to 9,800 tons and 39.65% to 13,800 tons, respectively. $717m to be invested in Thai Nguyen As many as 31 projects, worth VND16.3 trillion (US$717.2 million), have so far been registered in the northern province of Thai Nguyen within the framework of its investment promotion conference. This was announced on June 20 at a press meet about the event, which will be held on July 1. The conference is expected to draw some 800 delegates, including Party and State leaders as well as representatives of ministries, central agencies, diplomatic corps, international organisations and domestic and foreign businesses. According to the organising board, the conference will launch the VND1 trillion ($44 million) extended Bac Son road project connecting downtown Thai Nguyen with the local Nui Coc Lake tourism site. The event will also announce a list of 65 priority projects in need of capital and grant investment licences to eligible projects. Memoranda of understanding (MoU) on investment collaboration will also be signed on the occasion. Thai Nguyen has made lists of three qualified investors for projects worth more than VND3.1 trillion and seven projects worth more than VND1.7 trillion eligible to receive investment licences. The conference is expected to witness the signing of MoUs on investment cooperation for 21 projects, valued at nearly VND11.4 trillion. Prior to the event, local authorities had separate meetings with foreign business delegations and investors from Japan, France, the United Arab Emirates, Hong Kong, South Korea and Singapore. The local leaders also met domestic investors, such as the Sun Group and FLC Group, to discuss about projects on building a cable car system connecting Nui Coc Lake to Tam Dao in Vinh Phuc province and on the development of urban infrastructure and high-tech agro-forestry. Nhu Van Tam, vice chairman of the Thai Nguyen People’s Committee, said the province, located in the centre of the northern mountainous and midland region, boasted great advantages in attracting investment in tourism, industrial development, trade, services and argo-forestry. To date, it has planned six industrial zones covering 1,400ha and 35 industrial clusters spanning 1,300ha. Building materials, construction expo opens The latest products and services in the construction, building materials, real estate and interior and exterior decoration industries will be on show at the Vietbuild International Exhibition that opens in HCM City on June 21. The first to be held this year in the city – four Vietbuild expos on various themes will be held this year – featuring building materials, electrical equipment, decorative items, hygiene equipment, smart home systems, door and door accessories, paints, and others. There are more than 2,500 booths set up by nearly 800 companies from 27 countries and territories, including Australia, Germany, Italy, France, the US, Spain, the Netherlands, Singapore, South Korea, and Viet Nam. Business-matching events and many seminars will also be held on its sidelines, including a seminar on green building technology and another on new fingerprint lock solutions. Nguyen Tran Nam, chairman of the Viet Nam Real Estate Association and head of the organisation committee, said the annual exhibition would be a forum for companies to meet, exchange information, explore future co-operation and introduce their latest products and technologies. The five-day expo is on at the Saigon Exhibition and Convention Centre in District 7. Viet Nam, Philippines eye boost to trade, investment Viet Nam and the Philippines have great potential for trade and investment, a conference heard in HCM City Wednesday. Deputy Minister of Industry and Trade Tran Quoc Khanh told the conference: “In recent years economic co-operation between Viet Nam and the Philippines has grown but is not commensurate with the two nations’ potential.” Bilateral trade grew by 22 per cent last year to US$4 billion. In the first five months of this year trade was worth $1.77 billion, an increase of 15.5 per cent year-on-year. Viet Nam and the Philippines are each other’s fifth largest partners in Southeast Asian. By the end of May the Philippines had invested $328 million in Viet Nam to rank 35th out of 126 nations and territories investing in the country. “The two countries have a great opportunity to strengthen economic and trade co-operation,” Khanh said. “The Vietnamese Government is taking many steps to improve the business environment for foreign investors.” Deputy Minister of Trade Ceferino Rodolfo said: “Viet Nam is one of the fastest growing markets in the world and attracts a lot of interest from foreign investors, including Philippine enterprises.” At the conference, executives from 20 Philippine food processing, consumer goods, auto, and motorbike companies met with their counterparts from 10 Vietnamese companies to explore co-operate opportunities. Tisco asks for help to solve debt issue Thai Nguyen Iron and Steel Corporation (Tisco) has proposed its parent company – the Vietnam Steel Corporation (VNSteel), alongside the Ministry of Industry, Trade and Finance, and other relevant agencies assist the firm to extend loan dues and restructure debts to resolve financial issues, dantri.com.vn reported. At its annual shareholder meeting on June 12 Tisco reported that its total combined net revenue rose 10.9 per cent year on year to VND19.8 trillion (US$880 million) in 2017 and its pre-tax profit was VND898 billion, nearly tripling that of 2016. However, the company has encountered difficulties in high production costs, which has reduced its competitiveness in the market, while it does not have enough capital to either continue production or expand its factory. During the second-stage expansion of Tisco’s operations, which took place from 2009-10, VNSteel guaranteed Tisco a VND1.86 trillion loan from the Vietnam Joint Stock Commercial Bank for Industry and Trade (Vietinbank). Tisco is yet to pay back the debt. Tisco reported its charter capital was VND1.84 trillion. The company had spent VND1.5 trillion on the expansion project and it had lent VND531 billion ($23.6 million) to other businesses, but the investments were not efficient. The company retrieved a part of its outward loans, reducing its receivables to around VND450 billion. According to the firm’s management board, the biggest problem Tisco has to face is how to resolve the loan borrowed from Vietinbank. To resolve the current financial issues, the management board has offered to mortgage two iron and coal mines to any financial institution or business that will buy the VND1.86 trillion debt from Vietinbank so that VNSteel is no longer involved in Tisco’s loan. Another solution is for the Government to sell its ownership in Tisco to the private sector and reduce its stake to below a specific ratio that allows private firms to take a decisive role in Tisco’s management board. However, the divestment plan remains unknown and there has been no business or financial institution that is interested in buying the Government’s stake in Tisco. The two plans have put Tisco in a dilemma over whether it should transfer the State capital to the State Capital and Investment Corporation (SCIC) or remain under the management of the industry and trade ministry and continue resolving existing issues. The Ministry of Industry and Trade has been asked to submit a divestment plan of Tisco to the Prime Minister for consideration as soon as possible. Bac Giang to record $240 million in lychee value Thieu lychee, a unique fruit of the northern province of Bac Giang, is expected to record VND5.5 trillion (US$240.28 million) in value this year if it can retain its current price until the end of the fruit season. A report from the province shows that it had consumed about 125,630 tonnes of Thieu lychee as of June 19, bringing in a revenue of VND3.4 trillion. China is the main export market for this fruit. At present there are about 1,650 traders, mainly purchasing lychee in Luc Ngan District, a hub of Thieu lychee. There are more than 150 Chinese traders in this area alone.. Chairman of Luc Ngan District Nguyen Thanh Binh said there were a number of companies exporting lychee to the US, Japan, the Netherlands and Australia. The price of Thieu lychee, which is grown under Vietnamese Good Agricultural Practice (VietGAP) standards, is currently between VND20,000-VND28,000 per kilo (US$0.89 - 1.24), meanwhile normal lychee is priced at VND12,000-20,000 per kilo on average. The district has 15,290 ha of Thieu lychee, of which nearly 11,500 are being grown under VietGAP standards. Nearly 220ha has been granted area code numbers by the US Agriculture Department and 20ha have been recognised as GlobalGAP standard, a global farm assurance programme translating consumer requirements into Good Agricultural Practice. According to the provincial Department of Industry and Trade, the province has worked with distributors and retailers such as Big C, Co.oppart and Hapro to enter its products to supermarket chains. Earlier, Luc Ngan District successfully organised a trade promotion conference pushing to export Thieu lychee to China, which is the largest export market of Thieu lychee, accounting for 90 per cent of total export. General Director of Dong Giao Food Export Joint Stock Company Dinh Cao Khue said the quality of Bac Giang lychee this year was very good, with just 1-2 per cent being infested by pests. “We plan to harvest about 10,000 tonnes of Thieu lychee in Luc Ngan District, in which 4,000 tonnes will be exported to Japan,” said Khue. The company now has 10 points of purchase in the province for lychee, including those for export, for canning and for making juice. A Thao, a business person from China, told the Vietnam News Agency that he was purchasing lychee to sell in Beijing. He bought about 60 tonnes of lychee per day at a price ranging from VND23,000 to VND25,000 per kilo. “China has a lot of lychee but the Vietnamese fruit is more delicious and sweeter with a more beautiful colour. Chinese people prefer them, even though they’re more expensive than Chinese lychee,” said Thao. Director of Hung Thao Trade and Export Company Ltd., Dinh Van Hung said this year’s harvest was good and his company’s sales were high. He said his company planned to purchase about 8,000 tonnes to sell in various retail chains, especially Co.opmart in HCM City and exports to China. “I think that the price of lychee will increase in the coming time as China finishes its lychee season. At present, my company is purchasing at the price of between VND20-23,000 per kilo,” said Hung. Luc Ngan District has successfully registered branding protection in eight countries including Laos, Cambodia, South Korea, China, Japan, Singapore, the US and Australia. Vinh Long unveils construction master plan The southern province of Vinh Long on Tuesday unveiled a construction master plan covering the period from 2018 to 2030 and with a vision to 2050. The Deputy Director of the provincial Construction Department, Tran Hoai Hiep, said the plan aimed to establish Vinh Long as a centre of service, industry, and hi-tech agriculture through equitable and sustainable development. Hiep said the projects under the master plan would be built in accordance with the projects of the adjusted construction plan for the Cuu Long Mekong Delta, which is expected to become an important road and railway transport hub for the delta and a logistical centre in the urban economic region between Cuu Long Delta, HCM City, and Phnom Penh. Vinh Long is set to become a hub for paddies and orchards and a centre of hi-tech agriculture, supporting other hi-tech industries in the delta. It is also expected to be a vocational training and biological science research centre as well as a trade and tourism destination. The province’s economic growth rate is predicted to reach 7 per cent by 2030, with an average Gross Regional Domestic Product per capita of US$4,000. Petrol, oil prices slightly decrease Prices of oil and petrol slightly dropped by 300 VND per litre following the latest adjustment of the Ministry of Industry and Trade and the Ministry of Finance on June 22. After the adjustment, prices of E5 RON92 decrease by 329 VND per litre, and kerosene 386 VND per litre. The prices of E5 RON92 are not higher than 19,611 VND per litre, RON95-III not higher than 21,177 VND per litre, and diesel 0.05S not higher than 17,460 VND per litre. Prices of kerosene and mazut 180CST 3.5S should not be higher than 16,054 VND and 14,437 VND per litre respectively. The global prices for RON92, which is the base for the production of E5 petrol, stood at 81,252 USD per barrel in the 15-day period prior to June 22. RON95 was sold at 83,293 USD per barrel, diesel 0.05S 86,823 USD per barrel, kerosene 86,768 USD per barrel, and mazut 180CST 3.5S 444,901 USD per tonne. The petrol price stabilisation fund has been used constantly over the past time and at high level, particularly for petrol products, to mitigate the impacts of global rising commercial oil and petrol prices and contribute to curbing inflation. This time, subsidies for E5 RON 92 is 870 VND per litre (previously 1,270 VND per litre) and RON 95 is 198 VND per litre (previously 698 VND per litre). The two ministries decided to end subsidies on diesel and kerosene. VNN |
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BUSINESS IN BRIEF 24/6 Wood exports continue expanding in first months of 2018  An upturn has been seen in exports of wood and wooden products, with export value in the first five months of 2018 reaching 3.3 billion USD, up 8.2 percent from the same period last year. The top four markets were the US, China, Japan and the Republic of Korea (RoK), together accounting for 78.1 percent of total export revenue. Strong growth was seen in the RoK and the US markets, with 45.3 percent and 9.7 percent respectively. In the first four months of 2018, Vietnam earned 1.1 billion USD from exporting wood and wooden products to the US, 367.3 million USD from China, 350.7 million USD from Japan and 288.8 million USD from the RoK. However, Nguyen Quoc Khanh, President of the Handicraft and Wood Industry Association of Ho Chi Minh City, warned that the US, the largest market for Vietnamese wood and wooden products, has prioritised the domestic wood sector by reducing corporate income tax from 35 percent to 25 percent. He advised Vietnamese firms to supply different products from those produced en masse in the US. Global demand for wooden furniture is rising, while producing wooden products is a strength of Vietnam. Statistics from Canada showed that imports of wooden furniture of Canada in the first months of 2018 rose sharply, mostly from China, the US and Vietnam. Highest growth was seen in imports from Vietnam, accounting for 12.6 percent of total import revenue of the product. Meanwhile, Japan’s imports of wooden furniture dropped in both volume and value. But Japan reduced imports from China and bought more products from Vietnam, resulting in an increase of 0.8 percentage point in Vietnam’s market share in Japan. This shows that Vietnamese wooden furniture has met regulations in the Japanese market. Japan issued a Clean Wood Act in May 2017 to ensure the origins of wooden products sold in the country. This requires Vietnamese firms to ensure the legal and sustainable wood materials for products exported to Japan. A study by Technavio, a market research firm with global coverage, showed office wooden furniture exports will expand 3.71 percent in 2017-2021 due to rising demand for high-end, assembled and environmentally friendly products. In this context, Vietnamese firms should improve the design and quality of their products to match market trends and increase export revenue. Khanh said that the panorama of the sector in 2018 and following years is bright, adding that increasing global market share will be easier for Vietnam as major producers are switching their focus to other industries. The objective of Vietnamese firms is to take advantage of this opportunity. DATC targets highest debt settlement since 2015 Viet Nam’s Debt and Asset Trading Corporation (DATC) has targeted to settle VND3 trillion (US$131.6 million) worth of debts and assets in 2018, the highest since 2015. The Ministry of Finance’s debt trader expects to earn a four-year high revenue of VND2.5 trillion this year. However, its after-tax profit is projected at a modest VND350 billion, down by 12 per cent against 2017. In 2018, DATC will restructure the debts of some major State-owned enterprises, including Shipbuilding Industry Corporation (SBIC), Vietnam National Shipping Lines (Vinalines), Vietnam Northern Food Corporation and some other corporations. According to DATC, an inadequate legal framework for debt trading activity has restricted the company’s efforts in supporting more companies in restructuring their debt purchase. Meanwhile, entanglement in divestiture by selling interest in whole lots, accompanied with debt (its specific characteristic), has not been resolved, negatively affecting the divestment progress. By the end of 2017, DATC managed debts worth nearly VND20.6 trillion, accounting for 78 per cent of the total assets. Its charter capital was VND6 trillion. Last year, it reported a total revenue of VND2.44 trillion and a net profit of nearly VND317 billion. Viet Nam has two State debt trading companies, DATC and the Viet Nam Asset Management Company (VAMC). While VAMC is responsible for handling bad debts of commercial banks and financial institutions, DATC has focused on settlements of bad debt owned by State-owned enterprises in the pre- and post-equitisation processes. Quang Binh works to boost tourism development The north central province of Quang Binh, known for the UNESCO World Heritage Site Phong Nha Ke Bang National Park, is working to promote its tourism potential by fostering links with other localities to create new tourism products and attract more tourists. Endowed with stunning natural landscapes like untouched white sandy beaches and UNESCO World Heritage Site Phong Nha Ke Bang National Park, coupled with excellent cuisine, Quang Binh province poses huge potential for tourism development. Quang Binh has affirmed its tourism prestige as it welcomed 3.3 million tourists in 2017 and the number is estimated at 1.8 million in the first six months of the year, including 85,000 foreigners. Appraised by international media and experts as one of the leading worth-experiencing destinations in the world, Quang Binh is an attractive place for tourism investors. The locality is channeling efforts in promoting sustainable tourism development in companion with improving local livelihoods. The province’s tourism sector has joined hands with the Departments of Culture, Sports and Tourism of the Mekong Delta city and provinces to improve efficiency of state management and tourism promotion, and build mutual tourism products to attract more tourists. Seminar updates Fair Finance Asia programme Oxfam in Vietnam, a non-governmental organisation, hosted a seminar in Hanoi on June 20 to update the Fair Finance Asia programme. Speaking at the event, Oxfam’s Senior Programme Coordinator on Governance Nguyen Thu Huong said the event was designed to help social organisations gain an insight into issues regarding water and energy governance, mining and coal-fired power plants, take fair financial approach to relevant projects, and discuss the specific role of partners and Oxfam in particular. Representatives of the Vietnam Mining Coalition, the Vietnam Sustainable Energy Alliance and the Vietnam Rivers Network were briefed about the outcomes of a training course on fair finance in Asia and Vietnam in January 2018. They also shared updates about the meeting on fair finance in Asia in Siem Reap, Cambodia in April 2018. In order to promote financial fairness in banks, the programme’s advisor Andrew Well Dang suggested scoring and ranking banks in terms of data openness and socio-environmental safety policies, making in-depth studies on linkage between banks, finance and socio-environmental risks in the fields of mining, energy and land. Participants proposed improving the capacity of social organizations and offering technical support to community-based organisations to follow global standards on environment. They called for joint work between domestic and regional social organisations to evaluate the transparency and accountability of financial-banking organisations and investors, as well as sharing experience with Asian countries to look toward fair financial approach to water and energy governance, and mining. Da Nang looks for its own unique tourism products The central city of Da Nang boasts various advantages for tourism, from the beautiful beaches and sea, to forest, river and lake ecosystems, but it is essential that the city finds its own unique tourism products. Experts said those natural advantages, when combined with the city’s modern infrastructure, good services, safety and hospitality, create unique traits for the central coastal city. Da Nang has emerged as a destination of leisure, media and spiritual tourism, as well as entertainment and shopping activities, and a venue of conferences. However, compared to other central cities like Hue and Hoi An, Da Nang does not have as many cultural and historical sites. Therefore, the city has looked to create its own events, such as the international fireworks festival and international sport tournaments in the past years. Da Nang also tries to offer new tourism attractions and products year after year, from Ba Na Hills to new museums. Many experts suggested the city turn meetings, incentives, conferences and exhibitions (MICE) tourism into a typical tourism product. Over the past time, the number of international holiday-makers to Da Nang increased sharply, especially those from Europe, America and Asia. They have formed tourism streets like An Thuong, Ho Nghinh and Duong Dinh Nghe with their own tourism products. An Thuong is expected to become a destination for foreign vacationers at night in the time ahead. Representatives of travel agencies said Da Nang should develop more marine tourism products like parachuting, diving and tours around bays, along with products connected with local culture. Da Nang is a popular tourist destination in central Vietnam. The online marketplace and hospitality service Airbnb announced a list of the world’s top 10 destinations for the 2018, in which Da Nang ranked fifth in booking surges of up to 255 percent. According to the municipal Department of Tourism, the number of visitors to the central coastal city is increasing with annual average growth of 20.06 percent in the 2013-2017 period. In 2017, the city welcomed 6.6 million tourists, 2.1 times higher than the figure in 2013. The tourism industry generated 186,770 jobs in 2017 and grossed over 19.5 trillion VND (854.1 million USD) in revenues, 2.5-fold increase from 2013. This year, the city was ranked second in the list of the 10 most popular destinations among solo or couple travelers, according to the Republic of Korea’s Ticket Monster Inc. The website said people who plan to travel abroad with family members chose Da Nang as the most popular destination. The city is also the second-most popular destination among couple of travelers, followed by Bangkok (Thailand) and Guam (the US), it said. Vietnam’s third largest city has welcomed 538,000 Korean tourists so far this year, accounting for a third of total foreign arrivals in the city, according to the municipal tourism department. The RoK is expected to surpass Chinese tourists and become the biggest group of visitors to Da Nang in the near future. According to the Vietnam National Administration of Tourism, Da Nang was said to be the best place to live in Vietnam with many world-recognised recorded. The US’s New York Times listed Da Nang among 52 places to go in 2015. The city was recgonised as one of the world’s 20 low-carbon cities at the 44th APEC Meeting on Energy in the US in 2012. Da Nang International Airport was ranked third among the best airports in the world in 2014, according to a survey by Dragon Air. The InterContinental Danang Sun Peninsula Resort won the Asia’s Leading Luxury Resort in 2014 thanks to its perfect combination of traditional beauty and modern, luxurious standards. The US’s Forbes Magazine selected My Khe Beach in Da Nang as one of the six most attractive beaches on the planet in 2013. The cable line that takes visitors to the peak of Ba Na Hills at an altitude of 1,487 metres in just 17 minutes and is able to carry 3,000 passengers per hour won four Guinness Records in 2013. Sun Wheel, which is 115 metres in height and situated in Asian Park, Hai Chau district, Da Nang, was listed among the 10 tallest wheels in the world. Vietnam, Philippines boast potential for further trade cooperation Vietnam and the Philippines boast substantial potential to step up their trade and investment cooperation, heard a workshop jointly held by the two countries’ ministries of industries and trade in Ho Chi Minh City on June 20. Tran Quoc Khanh, Vietnamese Deputy Minister of Industry and Trade, said the friendship and economic, trade and investment links between the two countries have reaped noted achievements, with two-way trade hitting 4 billion USD in 2017, up 22 percent year-on-year. In the first five months of 2018, the bilateral trade revenue hit 1.77 billion USD, a rise of 15.5 percent against the same period last year, the official said. Currently, Vietnam and the Philippines are the fifth largest trade partner of each other in the Association of Southeast Asian Nations (ASEAN). Of note, the Philippines has poured 328 million USD in Vietnam so far this year, ranking 35 out of 126 countries and territories investing in the country. Khanh said, however, the results have yet to match the position and potential of the two countries. He suggested Vietnam and the Philippines should take advantage of their reciprocal export structures, as well as their ASEAN membership to deepen the economic and trade ties. The Vietnamese Government is scaling up efforts to implement concrete measures to improve the domestic business environment and national competitiveness, and create the best possible conditions for foreign businesses and investors to effectively operate in Vietnam, Khanh noted. Ceferino Rodolfo, Undersecretary of the Philippine Department of Trade and Industry, described Vietnam as one of the fast-growing markets, and an attractive destination for many enterprises and investors in Southeast Asia. The two countries still have a lot of potential to turn their trade and investment potential into cooperation opportunities, he said. Philippine firms have regarded Vietnam as a promising market in ASEAN and Asia at large, with such advantages as high, dynamic population and increasing consumption demands, especially for high-quality and personal-care products, according to the official. At the workshop, nearly 20 Philippine businesses operating in the fields of food, consumer goods, and auto-automobile manufacturing engaged in exchanges with some 100 Vietnamese firms to set up partnerships and push trade activities in the future.  Da Nang sees strong growth in high-end accommodation services Many businesses operating in accommodation services in the central city of Da Nang have worked to improve their service quality, as the high-end accommodation segment is growing and investment in the segment projected to continue to rise in coming time. Many accommodation establishments of three- to five-star are being built in the city, creating a foundation for development of middle- and high-end tourism. Major projects under construction include the Ariyana Beach Resort and Suites Da Nang, JW Marriot, Hilton Bach Dang, My Khe Duc Long, Four Points by Sheraton, Golden Bay and Hai An, among others. According to the municipal Tourism Department, domestic and foreign investment has been strongly poured into tourism services, especially in high-end tourism products. In addition to infrastructure, investors also paid attention to human resources development. The number of holidaymakers in this segment has been on the rise, bringing big revenues for local hotels and resorts. As of the end of April 2018, Da Nang is home to 712 accommodation establishments with more than 29,730 rooms, rising by 7,355 rooms compared to the same period last year. Of the lodges, there are 156 three- to five-star hotels with more than 18,000 rooms. By the end of this year, the city expects to raise the number of lodges to 774 with 36,031 rooms. Da Nang targets to have over 920 establishments with about 45,600 rooms by 2020. In 2017, total earnings of three- to five-star hotels made up 86 percent of the city’s accommodation service revenue with 7.7 trillion VND (337.62 million USD), a year-on-year increase of 52 percent. Vietnam has witnessed an influx of international hotel brands and hotel management companies in the last few years, according to property consultant Savills Vietnam. From 30 hotels with international brand names in 2010, the number had increased to 79 at the end of last year. The strong growth of the tourism sector has also given a boost to the hospitality industry. Da Nang is a popular tourist destination in central Vietnam. The online marketplace and hospitality service Airbnb announced a list of the world’s top 10 destinations for the 2018, in which Da Nang ranked fifth in booking surges of up to 255 percent. According to the Da Nang Department of Tourism, the number of visitors to the central coastal city is increasing with annual average growth of 20.06 percent in the 2013-2017 period. In 2017, the city welcomed 6.6 million tourists, 2.1 times higher than the figure in 2013. The tourism industry generated 186,770 jobs in 2017 and grossed over 19.5 trillion VND (854.1 million USD) in revenues, 2.5-fold increase from 2013. The city was ranked second in the list of the 10 most popular destinations among solo or couple travelers in 2018, according to the Republic of Korea’s Ticket Monster Inc. The website said people who plan to travel abroad with family members chose Da Nang as the most popular destination. The city is also the second-most popular destination among couple of travellers, followed by Bangkok (Thailand) and Guam (the US), it said. According to the Vietnam National Administration of Tourism, Da Nang was said to be the best place to live in Vietnam with many world-recognised records. It is famous for My Khe Beach, one of the six most attractive beaches on the planet selected by the US’s Forbes Magazine in 2013, the cable line to Ba Na Hills at an altitude of 1,487 metres, and Sun Wheel, which is 115 metres in height and situated in Asian Park, Hai Chau district. Besides, Da Nang International Airport was ranked third among the best airports in the world in 2014, according to a survey by Dragon Air. Exploiting FTA markets – good way to boost export revenue Optimising advantages in the markets signing free trade agreements (FTA) with Vietnam is expected to contribute to boosting Vietnam’s export revenue. In the first five months of this year, agro-forestry-fishery exports hit 15.6 billion USD, a rise of 9.9 percent over the same period last year. Four leading markets of the products were the US, Japan, China and the Republic of Korea. But many experts worried that the dependence on some major markets will pose high risks to not only agro-forestry-fishery products but others produced by Vietnam when fluctuation happens in these markets. In the January-May period, Vietnam earned 1.45 billion USD from rice export, up 13.9 percent in volume and 40 percent in value over the same time in 2017. The top market of Vietnamese rice was China. According to Nguyen Ngoc Nam, President of the Vietnam Food Association, opportunities for Vietnam’s rice export are increasing as the Comprehensive and Progressive Agreement for the Trans-Pacific Partnership (CPTPP) has been signed, creating favourable conditions for the country to sell rice in CPTPP member countries. According to the Ministry of Industry and Trade, a rise was recorded in export revenue to markets having FTAs with Vietnam in 2017 and it was maintained in the first half of this year. In the first five months of 2018, exports to the US reached 17.4 billion USD, a rise of 9 percent year on year. Although the FTA between Vietnam and the EU has yet to take effective, exports to the market still reached 16.9 billion USD, an increase of 13.6 percent. In 2017, Vietnam’s exports to the ASEAN countries also rose 34.3 percent to 21.7 billion USD, while export revenue in the Chinese market was up 60.6 percent to 53.3 billion USD. Strong growth was also seen in the Japanese market with 14.2 percent, the Republic of Korea with 31.1 percent, Australia, 14.3 percent, Chile, 26.3 percent, and Russia, 35.7 percent. The Vietnam Food Association predicted that rice export volume may fetch 6 million tonnes in 2018 with value of about 3 billion USD due to an increase in exports of high-quality rice. After earning 8.3 billion USD from exporting aquatic products in 2017, Vietnam expects 3-5 percent growth in revenue in 2018 thanks to positive signals stemming from the Chinese, Japanese and RoK markets. Minister of Industry and Trade Tran Tuan Anh said that over the past years, export activities have been on right track with the expansion of many big markets, the reduction in export of unprocessed products and increase in export of processed ones. As many as 28 sectors enjoyed export revenues of over 1 billion USD, while revenue of over 5 billion USD was recorded in seven markets and 10 billion USD in four markets. However, the diversification of markets for some agricultural and aquatic products is still limited, while the dependence on Asian markets remains strong. Particularly, some products like cassava, rubber and dragon fruits have still been sold in only one market. Minister Anh stressed that in the coming time, it is necessary to reduce the dependence on major markets and remove obstacles for enterprises in terms of tariff technical barrier, food safety requirements, and origin, while strengthening production-market connection, and setting up the value chains. Cassava exports to Japan surge Viet Nam’s cassava exports to Japan surged in the first four months of the year to 10,100 tonnes worth US$2.42 million. These represented increases of 379.4 per cent and 263.8 per cent year-on-year. But figures from the General Department of Customs show that the country’s overall cassava exports declined by 26.7 per cent to 1.09 million tonnes though their value remained virtually unchanged at $369 million. This was because the average export price was 37.3 per cent up at $338 per tonne though in Japan it fell by almost a fourth to $239. China remained the biggest importer buying more than 980,000 tonnes though its imports were down 26 per cent. Exports to Malaysia, the Philippines and Taiwan saw declines both in terms of quantity and value. Bedding brand Everon plans US$10mn bond issuance The management board of Everpia Joint Stock Company has approved the plan of issuing international convertible bonds worth US$10.1 million in South Korea this year. The US dollar-nominated bonds are non-secured and will be issued to Rhinos Vietnam Convertible Bond Private Investment Fund No.4 under South Korea-based Rhinos Asset Management Co. Ltd in a private placement. The minimum value is $100,000 per bond with a coupon rate of 1 per cent per year for a five-year maturity and interest payment in every six months. In case the bondholders do not exercise their right to convert, the issuer will pay the original debt at the compounded rate of 3.5 per cent per year. Bondholders will be allowed to nominate one member to the management board for a five-year term. Bonds will be fully or partially converted into EVE shares after one year from the date of issuance to one month before maturity. The conversion price is VND18,245 ($0.80) per share. Shares will be listed on the Ho Chi Minh Stock Exchange after the conversion. According to the company, the capital raised from the bond issuance will be used to develop new products and expand business operations. Everpia has chosen South Korean for issuing bonds because the interest rates in other primary bond markets, such as Singapore and Hong Kong, are higher, the company said. The issuance will be carried out after receiving the approval of the State Securities Commission. The net profit of the manufacturer of padding and bedding products plunged 43 per cent in 2017, reaching just VND51 billion. Shares of Everpia (stock code EVE) are trading at some VND17,000 per share on the Ho Chi Minh Stock Exchange. Quang Binh attracts 14 investment projects in five months  The central coastal province of Quang Binh is calling for investments of 48 projects during the 2018-20 period, with an expected amount of up to over VND50 trillion (US$2.2 billion). The projects, expected to cover more than 8,000 ha of land, mainly focus on tourism, trade and services, industry, agriculture, education and healthcare. Notably, 14 projects in tourism, trade, and services are expected to seek over VND37 trillion in investment, including coastal and ecological tourism and resort complexes. These are considered high-value projects that will create many jobs, increase local budgets and foster tourism development in the province. In the field of industry, Quang Binh is seeking over VND8 trillion for five projects focusing on wind and solar power, electrical and electronic production and assembly, telecommunications, lightning equipment manufacturing, and auto assembly. The province has attracted 14 investment projects, worth nearly VND3 trillion ($129 million) in total capital, to its industrial parks and economic zones so far this year. With the new investments, the number of investment projects in the province’s industrial parks and economic zones has risen to 105, with a combined value of nearly VND50 trillion. Among them, there are five foreign investment projects worth more than $30 million. The province has increased its promotions for investments in recent years, organising events both in and outside the country. The local authorities have built a database of local advantages, potential, and needs, and provides extra support for investors, besides those stipulated by law, such as assisting in procedures for investment and construction. Also, the provincial administration constantly reviews administrative procedures with a view to improving services for investors and local competitiveness. During the past three years, industrial parks and economic zones in Quang Binh generated an average industrial production value of VND3 trillion per year and earned nearly VND1.5 trillion in export value. They also created jobs for 5,000 workers, providing an average monthly income of VND5.2 million ($223). KEB Hana Bank BIDV’s potential strategic investor: VCSC The potential strategic investor of Bank for Investment and Development of Vietnam (BIDV) is Korea’s KEB Hana Bank, reported Viet Capital Securities Company (VCSC). In a report on BIDV, which is one of Viet Nam’s four largest State-run commercial banks, VCSC said the prospect of finding strategic investors of BIDV after eight years was gradually clear, adding that the transaction, if successful, will be an important factor to bring BIDV closer to Basel II standards as required by the central bank. Earlier, Business Korea reported that KEB Hana Bank had decided to expand its business in Viet Nam by acquiring a stake in BIDV. KEB Hana Bank is going forward with the acquisition and is reportedly close to signing a deal. The deal will proceed in a way that BIDV will raise new capital through a capital increase to improve its financial structure, and Hana Bank will purchase the new shares. According to a source, the only remaining process is the approval of State Bank of Viet Nam while the work is being finalised. BIDV started as Vietnamese Construction Bank in 1957. Until 1994, it was operated mainly by the Government. Since 1995, the bank has been actively offering financing, credit, financial and non-financial services as a commercial bank. It has played the role of an agency for the management of funds with domestic and foreign financial institutions. Earlier this year, KEB Hana Bank chairman Kim Jung Tai met Deputy Prime Minister Vuong Dinh Hue. Tai emphasised the need for co-operation between Hana Bank and BIDV and said the two banks would create good business opportunities if they continued to maintain a partnership in financial technology and mobile payment, among others, in Viet Nam. 2 companies acquire 33% of Hapro Two companies have acquired 60 million shares of the Ha Noi Trade Corporation (Hapro) on the Unlisted Public Company Market (UPCoM), announced the Ha Noi Stock Exchange. They are Thanh Cong Co. Ltd and An Phu Import Export Investment and Trading Co. Ltd. The acquisition is equivalent to more than 33 per cent of Hapro’s capital. The move has enabled the two companies to become major shareholders of Hapro. On May 18, An Phu bought nearly 32 million shares, holding 17.7 per cent of Hapro’s capital after the purchase. On May 23 and 28, Thanh Cong Co. Ltd purchased 27.6 million shares, equivalent to 15.31 per cent of the corporation’s capital. Before the transaction, the two companies did not own any shares of Hapro. Hapro floated nearly 76 million shares, or 34.51 per cent of its charter capital, in its initial public offering (IPO) on March 30. The IPO saw 100 per cent of the shares being sold out, earning the State more than VND980 billion (US$43 million). The company had put up these shares for trade on UPCoM on May 4 with the code HTM. Its shares are being traded at some VND9,000 ($0.40) per share, down by 30 per cent from the reference price of VND12,900 per share for the first trading day. Hapro has more than 40 member companies, with a presence in over 70 countries. Many investors have shown interest in the company as it owns many commercial premises in prime locations in major cities and provinces. In 2017, the company’s revenue declined by 17 per cent year-on-year to VND1.93 trillion while its profit was also modest at just VND11 billion, equivalent to one-sixth of 2016’s figure. Thanh Hoa’s tourism needs reform towards sustainable development Bestowed with gorgeous natural landscapes and diverse cultural space, the northern central province of Thanh Hoa has huge potential to branch out a wide range of tourism products, however, it faces calls for reform towards sustainable tourism development. At a conference held in the locality on June 19, experts recommended that excellent tourism products must have close connection with local people and culture while calling for more investment projects in tourism infrastructure. Along with improving the efficiency of investment promotion campaigns to lure businesses with financial strengths to invest in strategic and high-end projects, it is necessary for the province to develop standout tourism packages together with protecting natural sceneries. Furthermore, the province was advised to join hands with Hanoi, Ho Chi Minh City, eight northwestern provinces, northern coastal provinces and northern central coastal localities to study and build common inter-region tourism products, they added. Lauding suggestions of the experts, Vice Director of the provincial Department of Culture, Sports and Tourism Vuong Thi Hai Yen expressed her hope that the province’s tourism sector will be accompanied by enterprises and media agencies in the coming time. The department will recommend solutions to the provincial People’s Committee to popularise tourist attractions, lure visitors and connect local tourism spots to create a breakthrough for the non-smoke sector, turning Thanh Hoa into a national and international tourism hub soon, she said. Last year, the province welcomed 7 million arrivals and earned 8 trillion VND (352 million USD) from tourism services, up 11.5 percent from the same time last year. The locality targets to serve 8.2 million visitors in 2018 and eyes 10.6 trillion VND (466.4 million USD) in tourism revenue. Many renowned enterprises like FLC and Sun Group have poured capital into the local tourism sector. During 2015-2017, 18 tourism infrastructure projects were carried out while investment licenses were granted for 61 tourism projects with total registered capital of nearly 62.5 trillion VND (2.75 billion USD). BSR earns 54 trillion VND in revenue in six months The Binh Son Refining and Petrochemical One Member Co Ltd (BSR), a subsidiary of PetroVietnam, pocketed nearly 54 trillion VND (2.37 billion USD) in revenue in the first six months of the year, accounting for 69 percent of the yearly plan. At its shareholders’ meeting held in the central province of Quang Ngai on June 21, the company said that its net profit reached 2.7 trillion VND (118.8 million USD), equivalent to 77.6 percent of the target set for the whole year. The company’s total output stood at 3.53 million tonnes while its sale volume was estimated at 3.6 million tonnes, completing 57 percent of the yearly plan. Under the firm’s business development plan in 2018 and orientation for the 2018-2022 period, the BSR’s revenue is expected to hit a peak of nearly 6.4 trillion VND (281.6 million USD) in 2019 and the amount will taper off in the three following years due to plant’s expansion. The company will complete the upgrade and expansion of the Dung Quat Oil Refinery, and put it into operation in 2022. Upon completion, the plant’s yearly refining capacity will increase from 6.5 million tonnes to 8.5 million tonnes of crude oil meeting the Euro 5 standard. The BSR will channel efforts towards a leading competitive oil refining company in the region. Earlier this year, the BSR sold 241.5 million shares, or 7.79 percent of its charter capital, during its first initial public offering (IPO) on the Ho Chi Minh Stock Exchange (HOSE). The shares were sold to 623 investors, including 62 organisations and 561 individuals, at an average price of 23,043 VND (1.01 USD) per share, as against the asking price of 14,600 VND (0.64 USD). Of note, a foreign investor purchased 147.83 million shares or 61.2 percent of the total shares on sales. Under the equitisation plan, PetroVietnam will retain 43 percent of the BSR’s charter capital, while a maximum of 49 percent (1.52 billion shares) will be sold to strategic investors, expecting to earn nearly 1 billion USD. About 0.21 percent of shares will be offered to the company’s employees. On March 1, all of the BSR shares were traded on the Unlisted Public Company Market (UPCoM) and they drew the attention of a large pool of domestic and foreign investors. Many international investors have worked with BSR to seek cooperative opportunities, including Nation Indian Oil Coporation, Indonesia’s Pertamine, and Thailand’s Bangchak Corporation Public Company Limited. Phu Yen: Agricultural restructuring project bears fruit The agricultural restructuring project in the central coastal province of Phu Yen has yielded fruit after three years of implementation, the provincial People’s Committee reported on June 21. In the field of cultivation, the locality has developed major plants like rice, cassava, sugar cane, pepper and rubber, while encouraging scientific-technological applications in all production stages. The animal husbandry sector has been shifted from small scales to larger ones, with 198,000 cows and more than 3.6 million heads of poultry. The sector’s added value increased 6 percent annually. Fishery is one of the province’s advantages, with ocean tuna as the main product. Shrimp farming has also brought about high export values. Several models have proven effective like forestation in combination with high-value plant cultivation in the mountainous district of Song Hinh, cooperation in sugar production and consumption between the mountainous district of Son Hoa and KCP Sugar Factory, white-legged shrimp farming using high-tech at Dac Loc Seafood Co., Ltd, and production of rice varieties in An Nghiep Cooperative in Tuy An district. According to Nguyen Trong Hung, Director of the provincial Department of Agriculture and Rural Development, the agricultural sector’s added value rose 4.5 percent and production value expanded by 4.2 percent annually, making up 25.3 percent of the province’s GDP. The province aims to earn 110 million VND (4,840 USD) per ha each year, up 1.6 times compared with 2017, and raise per capita income in rural areas to 45 million VND (1,980 USD), up 1.7 times over 2017. RoK helps businesses carry out major projects in Vietnam, UAE The Trade Ministry of the Republic of Korea has announced that it will hold a second meeting of a government-civilian panel to discuss winning major projects from the United Arab Emirates and Vietnam on June 22. Representatives from the trade, infrastructure and fisheries ministries will take part in the meeting to review the state of progress in projects already undertaken and discuss support measures for projects expected to be awarded to Korean companies at the end of this year and the start of next year, the Yonhap news reported. The trade ministry will focus on supporting the working group on investment and development of coal and road infrastructure in Vietnam and inviting senior-level officials from the UAE and the Asian country. The infrastructure ministry is due to launch an agency at the end of this month specifically to promote city development business overseas while exploring new projects, including airports and intelligent transportation systems, officials said. Fisheries officials have been sent to the UAE to help win port construction bids, and the ministry will provide consulting for overseas port development businesses. The panel was launched in May to follow up on bilateral cooperation discussions during President Moon Jae-in's visits to the two countries. Hau Giang reviews development of hi-tech farm zone Leaders of the Mekong Delta province of Hau Giang met on June 21 to review the development of a hi-tech agricultural zone in the province by 2025. Speaking at the meeting, Chairman of the provincial People’s Committee Le Tien Chau requested the management board of the local hi-tech agricultural zone to review all policies the Government has adopted for the building of hi-tech agricultural zones and how to implement them. At the same time, the board must learn from experience of other localities in luring investments in the field, he added. Le Hoang Xuyen, Director of the management board of the hi-tech agricultural zone, proposed the provincial People’s Committee to approve the building of a new stronger-structure bridge to replace the current one leading to the zone to allow high-load vehicles of investors to travel on. He also urged the committee to speed up the construction of roads to the zone. In addition, Xuyen asked the local Department of Agriculture and Rural Development to continue supporting related projects, such as the project on a pumping station and the Sustainable Agriculture Transformation (VnSAT) project. In 2012, the government allowed Hau Giang to zone off 5,200 hectares of land in Long My district for hi-tech agriculture. The hi-tech agricultural zone has been implementing three projects, including one at ministerial level and another at provincial level. The zone has been cooperating with the Republic of Korea to test several biological products on 14 hectares of rice since last year. This year, those products will be tested on 8 hectares of rice, 2 hectares of pineapple, 2 hectares of citrus fruits and 2 hectares of mango in the zone. HCM City: Ornamental fish production reaches higher standards The Ho Chi Minh Fisheries Sub-department has selected four ornamental fish farms that meet conditions to produce ornamental fish under Good Manufacturing Practice (GMP) standards. The farms, Dong Khoi Ornamental Fish Farm and Niem Dam Me Discus Farm in Cu Chi district, and AMR Farm and Xanh Tuoi Ornamental Fish Farm in Binh Chanh district, produce ornamental fish for sale in domestic and foreign markets. The Dong Khoi Ornamental Fish Farm, which covers 4,000 sq.m in Trung Lap Ha commune’s Xom Moi hamlet specialises in producing neon ornamental fish, tiger barb and rummy-nose Tetra for exports. The Niem Dam Me Discus Farm specialises in producing discus ornamental fish. The sub-department has provided the farms with quality techniques that meet standards and focus on environmental protection, disease prevention, quality of ornamental fish seed and fish feed. The city has exported 10.5 million ornamental fish worth 12.7 million USD this year, up 14.8 percent in volume and 10.6 percent in value against the same period last year, according to the Department of Agriculture and Rural Development. The city has exported 60 more fresh water ornamental fish species. Of the figure, more than 40 species have been produced artificially, while the rest are caught from rivers and springs. Exports of marine ornamental fish, which have high value, account for 1 percent of the city’s ornamental fish exports. The city’s ornamental fish is exported to the EU, Asia, America, and South Africa. Two ornamental fish trading areas are located on Nguyen Thong street in District 3 and Luu Xuan Tin street in District 5. Vo Thanh Liem, owner of the Da Tuong ornamental fish shop on Luu Xuan Tin street, who has been in business for many years, said the sector is developing strongly. Wholesale traders in other provinces and cities in the country are visiting HCM City to buy ornamental fish. Discus ornamental fish tops the city’s list of ornamental fish exports, which has been identified as a key product of the city’s agricultural sector. The city, which is the country’s largest ornamental fish producer, has about 88ha of land devoted to raising ornamental fish in outlying districts, with more than 290 households involved in production. The Sai Gon Ornamental Creatures Co-operative in Cu Chi district has worked closely with 80 local ornamental fish farming households to have a stable quantity of ornamental fish for exports. The cooperative exports about 1.9 million ornamental fish a month. Nguyen Van Thuy, Chairman of the co-operative, said that demand for ornamental fish huge from both domestic and foreign markets. The hobby of breeding ornamental fish is no longer limited to those with high incomes, as average-income people can now join in the trade, he added. VNN |
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VN dairy farmers struggle against low prices Many farmers in Ho Chi Minh City are shutting down their farms as the milk prices drop and they lack funds to improve quality.
Bathing for cows in HCM City According to the Department of Agriculture and Rural Development, the city had 73,646 cows as of June, a decrease by 25,744 compared to February 2016 when the farmers also faced lots of difficulties and needed help from the government. The number of cows in Cu Chi District decreased from 67,537 at 6,626 households to 66,422 cows at 4,699 households. A trader in Cu Chi said over 100 households sold milk to him in 2014, but only 40 remains in the business now. "The former milk price was VND14,000 (61 US cents) per kilo and requirements were not as strict. The current prices are VND10,500 to VND11,000 per kilo and the quality requirements have been tightened. Meanwhile cattle feed prices have been on the rise, forcing many households to find another job," he said. A farmer in Tan Thanh Dong said it was difficult to control the quality and they didn't know how the company decide the milk quality either. Some of them bought drugs to test the milk quality but were still rejected later. The farmers often wake up from 4 am and work until dusk. It is more beneficial to sell cows for meat than milk. Nguyen Minh Khanh, director of Tan Thong Hoi Cooperatives, said they were trying to build a milk brand for Cu Chi so only quality milk would be accepted. "We can only throw away poor quality milk. We have equipment to test the milk quality and the results are confirmed at major labs. Farmers will be warned or have their contracts cancelled if they keep sending poor quality milk," he said. Nguyen Van Cam, deputy head of the Finance Department at Cu Chi People's Committee, said 4,699 households were providing 338 tonnes of milk to three companies. He claimed the situation was still stable and the milk prices were decided by its quality. "Only those who refuse to improve their quality will have contracts cancelled. We are also starting a programme to improve the quality of dairy herds, encouraging farmers to cut the number of cows so the farmers sold their cows to neighbouring provinces. They use the rest for beef," he said. Nguoilaodong/Dtinews |
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Government News 25/6 Public trust Party, State’s resolve in fighting corruption
 At the appeal trial on the case on "asset embezzlement” and “deliberately violating State regulations on economic management, causing severe consequences” at PetroVietnam Construction JSC The public have expressed their trust in the resolve of the Communist Party of Vietnam and the State to fight corruption ahead of the national conference on corruption prevention and fight scheduled for June 25. Nguyen Tuc, member of the Presidium of the Vietnam Fatherland Front’s Central Committee, highlighted remarkable changes in the anti-corruption work after the 12th Party Central Committee adopted the Resolution on Party building at its 4th plenum. The changes can be seen most clearly in the revelation and trial of many corruption cases, with many high-ranking officials brought to court for their law violations. However, those are only initial outcomes, Tuc said, stressing that besides fighting corruption, it is necessary to revise existing policies and laws to make them suitable to the current situation. Vice Director of the Ho Chi Minh National Politics Academy Le Quoc Ly said the outcomes of the anti-corruption fight have won approval from the public and enhanced their trust into the leadership and resolve of the Party in combating this evil. The trial of corruption cases recently has demonstrated that the Party does not compromise with corruption and tolerate no “banning zone” in the fight, he said. The scholar noted that prevention is better than fight, and urged the establishment of institutions for agencies to monitor each other and for the people to supervise State and Government agencies. Luu Binh Nhuong, a permanent member of the National Assembly’s Committee for Social Affairs, called for consolidating the apparatus and personnel of Party and State agencies directly involved in corruption prevention and fight, and strengthening the supervision of the NA, NA deputies and elected agencies in localities. He also urged the Vietnam Fatherland Front and its member organisations to perform well their role as supervisor and social critic, and the public as well as the media to participate stronger into the anti-corruption fight. According to Ngo Duy Hieu, head of the Department of Labour Relations under the Vietnam General Confederation of Labour, the fight against corruption in the country is being intensified in a result-oriented manner, under strong instruction with high resolve and drastic actions. He said in the time to come, more attention should be paid to completing institutions in order to minimise opportunities for corrupt officials, while corruption cases and degraded officials should continue to be tried in a strict manner. PM orders focusing efforts on addressing flood consequences in northern localities  Dealing with flood consequences in Tam Duong district of Lai Chau Prime Minister Nguyen Xuan Phuc has issued a dispatch asking relevant ministries, sectors and localities to focus resources on search and rescue along with activities to overcome flood consequences in northern mountainous and midland provinces. As from June 22 night, the provinces suffered heavy rains and serious landslides, causing losses in human lives and property, especially in Lai Chau and Ha Giang. By late June 24, localities reported five deaths and eight people missing. The Government leader sent deepest sympathy to families of the victims, and required local authorities to support affected families, and providing safe shelter and food to locals. Localities were also asked to continue inspect areas with high risk of landslide and flashflood in order to timely issue warning and evacuate locals to safer places. The National Committee for Disaster Response, Search and Rescue, the Ministry of Defence and Ministry of Public Security were assigned to direct forces based in the localities to engage in coping with disaster aftermath. Meanwhile, Minister of Agriculture and Rural Development and Ministries of Industry and Trade were requested to ensure safety for dykes and reservoirs, while the Ministry of Transport must direct the rapid settlement of landslides to make sure traffic in national routes is smooth. The Ministry of Natural Resources and Environment was asked to regularly update information and developments of floods and disasters to people for preparations. According to the Steering Committee for Natural Disaster Response, Search and Rescue of Lai Chau province, as of 21:00 of June 24, three persons died and eight others went missing during flood in the locality, while property losses mounted to about 60 billion VND. In Than Uyen, Tan Uyen, Sin Ho and Tam Duong districts, floods drowned over 200 hectares of rice farm, swept away 100 hectares of maize and more than 7 hectares of fish farm, and damaged 20 water and irrigation works. Landslides left over 500,000 cubic metres of soil blocking many roads and isolating about 20 households in Nam Cay village of Xa De Phin communes, Sin Ho district. Meanwhile in Ha Giang, two people in Quan Ba district died as their house collapsed due to flood, while nearly 400 houses in Ha Giang city were completely submerged in floodwater. Many transportation routes have been blocked, isolating many localities. At the same time, Bac Kan province also severely suffered from torrential rains, floods and landslides. Initial reports showed that 7 hectares of rice and maize were sunken in flood water, while about 0.4 hectares of aquatic farm with about 600kg of fish was swept away, along with about 0.1 hectares of maize farm. Total losses have reached about 300 million VND.-VNA Vice president wraps up Laos visit  Vietnamese Vice President Đặng Thị Ngọc Thịnh concluded her official visit to Laos with a meeting with the staff of the Consulate General of Vietnam in Luang Prabang and representatives of Vietnamese people and businesses in the northern region of Laos. Vietnamese Vice President Đặng Thị Ngọc Thịnh concluded her official visit to Laos after leaving the country’s Luang Prabang Province yesterday. She had a meeting with the staff of the Consulate General of Vietnam in Luang Prabang and representatives of Vietnamese people and businesses in the northern region of Laos. She expressed appreciation for the patriotism and precious contributions of Vietnamese expatriates in Laos to the two countries’ special friendship. The Party and State always pay attention to the interests and lives of overseas Vietnamese, including those in Laos, Thịnh stressed, adding that while talking to Laos’ central and local officials, Vietnamese leaders have always asked them to continue creating the best possible conditions for Vietnamese to live and work in the country. At the meeting, Thịnh told Vietnamese people in Laos to maintain their solidarity and mutual support, uphold the homeland’s traditions, and respect and adhere to local law and customs, thus helping to enhance the two countries’ friendship. She also called on Vietnamese businesses to step up investment and trade and actively take part in social activities, thereby contributing to socio-economic development in the northern region of Laos. Earlier during her visit, Thịnh and Chairwoman of the National Assembly of Laos Pany Yathotou expressed their delight at closer ties between the two legislatures during a meeting in Vientiane on Wednesday. Both sides spoke highly of the sharing of information and expertise between the two legislatures’ units as well as effective cooperation in their external activities, especially at regional and global parliamentary forums such as the ASEAN Inter-Parliamentary Assembly and the Inter-Parliamentary Union. Meeting with President of the Lao Women’s Union (LWU) Central Committee Inlavan Keobounphan the same day, Thinh highly valued ties between LWU and the Vietnam Women’s Union in the cause of promoting gender equality, women emancipation, health care for women and children, and especially educating young generations about maintaining and upholding the tradition of bilateral special solidarity. In the afternoon, she visited the headquarters of the Star Telecom company – a joint venture with Vietnam’s military-run telecom provider Viettel. It is now the most modern Internet 4G service supplier with nearly 3 million subscribers, accounting for 52 percent of market share in Laos. Problems set to slow HCM City’s growth  HCM City’s growth is likely to slow down in the years ahead. -- vov.vn HCM City’s growth is likely to slow down in the years ahead because it is running out of land, has poor infrastructure and human resources and lacks regional connectivity, a conference has heard. City Party Secretary Nguyễn Thiện Nhân told the “Reality and solutions to improve HCM City’s economic growth quality and competitive capability to meet integration demands” conference on Saturday that it was vital for HCM City to restructure its economy and we need all possible contributions from experts, scientists, researchers and enterprises. “The city Party Committee will soon meet to review and decide what we should do in the next 2 1/2 years, and scientific research is very important for new development.” Nguyễn Trọng Hoài, principal of the HCM City Economics University, said: “HCM City is now becoming a mega city with a population of over 10 million. If it does not expand urban space, traffic congestion would become more serious.” He said his recent survey had found that 90 per cent of enterprises in the city’s processing zones and industrial parks use medium-level technology, many companies do not use all the land allotted to them and instead rent it out, and 70 per cent of workers are immigrants training whom costs a lot. “The city must pay more attention to training high-quality human resources, invest more in infrastructure, expand regional connections and restructure the urban space. The city also needs to restructure industrial production by renovating technologies and improving the effectiveness of land use.” He urged the city to increase the use of information and communication technology in public administration to reduce time and cost for the public. Economist Nguyễn Thị Cành of the HCM City Law – Economics University said the city’s economic growth in recent years has been inconsistent, FDI is slowing, efficiency of investments is low, quality of human resources is poor, and it is running up a trade deficit. “The city needs to improve its business environment, attract more FDI and promote small and medium-sized enterprises.” Dr Nguyễn Thuấn of the Open University said: “The city must consider science and technology as the foundation to promote its entire economy.” According to its Department of Planning and Investment, HCM City’s economic growth has been rising by around 0.3 percentage points a year recently (7.72 per cent in 2015, 8.05 per cent in 2016 and 8.25 per cent in 2017). But the quality of growth is not consistent, and its competitiveness is low. Growth in the services and construction sector fell from 12.5 per cent in 2006 –10 to 11.2 per cent in 2011 – 2015, while industrial growth declined in that period from 10. 3 to 7.6 per cent. Industrial production is still focused on consumer goods and many sectors remain labour-intensive. Services, small trade and real estate still account for a large proportion of the economy while high-tech services account for a very small portion. Deputy PM urges acceleration of North-South Expressway project
 A section running through Tan An city (Long An province) of Ho Chi Minh City-Trung Luong Expressway, part of the North-South Expressway Deputy Prime Minister Trinh Dinh Dung has asked ministries, especially the Ministry of Transport (MoT), to speed up preparations to ensure all sections in phase I of the North-South Expressway will be completed in 2021. At a meeting to review the project’s progress on June 22, Deputy PM Dung urged the MoT to promptly make investment preparations in line with legal regulations so as to prevent losses and complete the project on schedule. “Bidding must be carried out publicly to select the most suitable investors so as to ensure the project’s efficiency, quality and progress,” he noted. He asked localities, other ministries and sectors to coordinate closely with the MoT to address difficulties in procedures, capital, and compensation for and resettlement of displaced people. The Deputy PM also told the MoT to standardize technical and architectural requirements for rest areas along the North-South Expressway so that they will provide modern, convenient and civilized services for passengers. [Infographics: 654km section of North-South Expressway to be built] The North-South Expressway has total length of over 2,100km, traversing 32 provinces and cities. The project is divided into three phases. In the 2017 – 2020 period, more than 650km of the road running through 13 provinces and cities will be built. There are 11 sub-projects in this period. From 2021 to 2025, the sections of Bai Vot (Ha Tinh province) – Cam Lo (Quang Tri province) and Quang Ngai province – Nha Trang (Khanh Hoa province) will be constructed. Meanwhile, the section from La Son (Thua Thien-Hue province) to Tuy Loan (Da Nang city) will be upgraded from two lanes to four lanes. The section from Can Tho city to Ca Mau city of Ca Mau province will be built and put into operation after 2025. Total investment for the project in 2017 – 2020 will be 118.7 trillion VND (5.2 billion USD), including 55 trillion VND (2.4 billion USD) from the Government and the remainder raised from investors through public-private partnership. PM wishes Italian insurer success in Vietnam
 Prime Minister Nguyen Xuan Phuc (R) and Philippe Donnet, Director General of the Italian life insurance group Generali Prime Minister Nguyen Xuan Phuc wished the Italian life insurance group Generali success in doing business in Vietnam during his reception in Hanoi on June 22 for the group’s Director General Philippe Donnet and the Italian Ambassador to Vietnam Cecilia Piccioni. The PM said the life insurance market in Vietnam is still small, but with a population of nearly 100 million, the market has great potential for development. He stressed that with stable socio-political situation, extensive international integration and full adherence to commitments to the World Trade Organisation, Vietnam provides a good environment for economic growth and the development of life insurance market. Philippe Donnet said he was impressed by Vietnam’s growth in the past time, noting that the growth is a favourable condition for the development of the life insurance market. According to Donnet, his group has gained certain success during its nearly one decade operation in Vietnam. He expressed his hope that the Vietnamese Government and the Prime Minister will facilitate the group’s business. In response, PM Phuc said Generali, which is the leading life insurance company in Italy, should adopt suitable operation methods and cooperate with Vietnamese partners and agencies to increase the number of people participating in life insurance. The Government leader reiterated the Vietnamese Government’s intention to continue refining institutions and policies to facilitate foreign investors’ operation in Vietnam, including in the insurance sector. He urged Philippe Donnet and the Italian Ambassador to campaign for the Italian Government’s support and adoption of the Vietnam-EU Free Trade Government. The PM asked Ambassador Cecilia Piccioni to work closely with the Vietnamese side to well organize the celebration of the 45th anniversary of Vietnam-Italy diplomatic relations this year. VNN |
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FDI registered for Vietnam exceeds $20 billion in H1 Vietnam attracted more than $20 billion in foreign direct investment (FDI) in the first half of 2018.
 Vietnam attracted more than 20 billion USD in FDI in first half of 2018 - Illustrative image The capital was poured into 1,362 new projects and 507 existing ones and used to contribute capital and buy shares in domestic companies, said Deputy Minister of Planning and Investment Nguyen The Phuong at a conference on technology transfer in the FDI sector in Hanoi on June 25. According to him, after 30 years Vietnam of opening its door to foreign investors, the FDI sector has become an important part of the economy. To date, the country has attracted nearly 26,000 projects with a registered capital of 326 billion USD. Disbursement is estimated at 180 billion USD. Foreign investment accounts for 25 percent of the country’s total investments and contributes 20 percent of GDP. Last year, the sector contributed nearly 8 billion USD to the State budget, 14.4 percent of total revenue. At present, 58 percent of foreign investments focus on processing and manufacturing, generating half of industrial production value. Along with creating jobs and increasing the quality of human resources, FDI enterprises have helped transfer advanced technologies to domestic firms. However, the transfer work has yet to meet expectations, Phuong stated. Deputy Director of the Central Institute for Economic Management (CIEM) Nguyen Thi Tue Anh said that influence from FDI businesses’ technology transfer remains weak, as few Vietnamese businesses access their supply chains. She emphasised the need to create an equally competitive environment so that FDI and domestic enterprises can compete healthily and coordinate in production. VNA |
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Social News 25/6 Thousands of biogas plants built thanks to ADB-funded project  Constructing a biogas plant in the Mekong Delta province of Ben Tre. (Photo: nongnghiep.vn) By February 2018, nearly 52,000 small, 23 medium and two large biogas plants had been built across Vietnam to help reduce rural waste from livestock production under an 84-million-USD agricultural project. The Low Carbon Agricultural Support Project (LCASP) has been carried out by the Ministry of Agriculture and Rural Development in ten provinces – Lao Cai, Son La, Phu Tho, Bac Giang, Nam Dinh, Ha Tinh, Binh Dinh, Tien Giang, Ben Tre and Soc Trang – since June 2013. The project aims to encourage farmers to process livestock waste, which has serious consequences for health and the environment, into biogas and slurry. It also looks to raise awareness about environmentally-safe, climate-friendly waste management practices using commune pilot demonstrations, training courses, study tours, radio and television programmes and other information. It is expected to lower energy costs, raise organic fertiliser use and boost household incomes, contributing to sustainable agricultural development and new-style rural area building. The LCASP received 74 million USD in soft loans from the Asian Development Bank and 10 million USD from the Government and State-owned financial firms. According to the Ministry of Agriculture and Rural Development, Vietnam is home to about 12 million households raising livestock and 23,500 livestock farms which dump an estimated 84.5 million tonnes of waste annually. Only 20 percent of the waste is converted into biogas and fertiliser or used for aquaculture. The remainder is discharged into the environment without treatment, causing serious pollution. Lao order presented to Thanh Hoa volunteer soldiers
At the ceremony (Source: http://baothanhhoa.vn) More than 1,000 former Vietnamese officers and soldiers from the central province of Thanh Hoa were awarded with the Order of the Lao President for their contributions to Laos’ national liberation struggle at a ceremony held in the locality on June 24. The event showed the solidarity and friendship between the two countries, and the close relations between Thanh Hoa and Laos’s Houaphanh province in particular. Addressing the event, both Vice Secretary of Thanh Hoa province’s Party Committee Do Trong Hung and Houaphanh’s Governor Vanxay Phengsumma affirmed that the two countries’ Parties, authorities and people and those of the two localities appreciate the sacrifices of Vietnamese officers and soldiers to the national liberation, defence and construction of Laos. The two localities will continue to work together, towards strengthening their relations, they said. 50 years ago, a young volunteer team named N43 with officers and soldiers from Thanh Hoa province was established. More than 1,600 young men and women from the locality were assigned to serve in Laos. In recognition of the team’s contributions, the Lao State presented the Freedom Order (Itsala), first class to the unit in 1970. WB’s project to improve Thai Nguyen’s urban infrastructure
 Thai Nguyen city's centre. The World Bank has approved 80 million USD in loan to enhance the quality of key urban infrastructure in Thai Nguyen city, the capital of northern Thai Nguyen province. The funds will be spent to construct and upgrade urban roads and bridges, improve local drainage system, urban amenities and public spaces and build preschools. It will also support better urban planning and management, taking into account climate change and disaster risks. The project is expected to directly benefit more than 81,000 residents of the city from improved urban infrastructure that will reduce the risk of flooding and expand access to improved sanitation, reduce vehicle travel times on new and improved roads and increase access to child care services and public spaces. It will also improve connectivity to industrial parks, commercial establishments and tourist attractions, which will benefit workers and merchants commuting to and from the project city as well as tourists visiting Thai Nguyen city. Furthermore, support will be provided to the government of Thai Nguyen to strengthen its capacity for integrated urban planning, public transport planning and sustainable asset management. The project is estimated to cost about 100 million USD, including 80 million USD financed by the WB’s International Development Association (IDA) and 20 million USD from the provincial government. Thai Nguyen city is the capital of Thai Nguyen province and the regional hub of the northern mountainous region. The city is located in the Hanoi Capital Region, with newly constructed highway connections facilitating access to the capital, just 80 km away. It has a total natural area of approximately 223 sq.km and a population of more than 362,900 people. ASEAN Sports Student Festival opens in the Netherlands  The second ASEAN Sports Student Festival has kicked off in Amsterdam, the Netherlands, with more than 100 Vietnamese and ASEAN students taking part. In her opening speech, Chairwoman of the ASEAN Committee in The Hague and Vietnamese Ambassador to the Netherlands Ngo Thi Hoa said the event has become a tradition of ASEAN member states in the European country. It is expected to strengthen friendship in the bloc and encourage youths to join physical activities. She lauded ASEAN embassies’ support for the event, especially the Vietnamese Students’ Association in the Netherlands. The Vietnamese Ambassador and ASEAN fellows presented flowers and sent best wishes to competitors. The festival featured mini football, badminton, basketball and relay. Concluding the event, Vietnam won in football and the relay while the Philippines triumphed in basketball. Indonesia came first in badminton in the doubles and singles events. Fire hits apartment building in Gò Vấp District Heavy smoke comes out of a sixth floor apartment at the I-Home building in HCM City’s Govấp District. — Photos news.zing.vn A fire broke out today in an apartment of the I-Home building in Phạm Văn Chiêu Road, HCM City’s Gò Vấp District causing panic to those living there. Local residents discovered the blaze after seeing thick smoke coming from an apartment on the 6th floor. Many raised the alarm to warn all others to vacate the building. About 30 fire fighters rushed to the area and brought the fire under control. Initial cause was suspected due to an electric shock. Đồng Tháp establishes Family, Juvenile Court
 Youssouf Abdel-Jelil, UNICEF representative in Việt Nam, gives a speech at the Family and Juvenile Court launching ceremony in Đồng Tháp Province. — Photo Courtesy of UNICEF Đồng Tháp southern province on Friday established its Family and Juvenile Court, making it the second province in Việt Nam to have a specialised court for children. The Family and Juvenile Court aims to provide better support and protection for children in need of legal aid. The event was chaired by Chief Justice of the Supreme People’s Court, Nguyễn Hòa Bình. “Việt Nam’s establishment of the Family and Juvenile Court was a major milestone for children’s rights in Việt Nam. Today’s launch of the Đồng Tháp Family and Juvenile Court reflects Việt Nam’s continued commitment to uphold children’s rights enshrined in the Convention on the Rights of the Child,” said Youssouf Abdel-Jelil, UNICEF representative in Việt Nam. The establishment of the Family and Juvenile Court is part of wider child justice reforms introduced under the Law on Handling of Administrative Violations, Penal Code, Penal Procedure Code and Law on Children. The reforms allow children, families and qualified professionals to participate more fully in judicial proceedings through the application of child-friendly and gender-sensitive procedures and trained specialised judges, who will be able to tailor decisions to the needs of an individual child based on his or her best interests. “The establishment of the Family and Juvenile Court is not merely about rearranging the structure of the People’s court system; rather, this institution allows specialisation in the handling of family and children’s cases to increase the effectiveness and quality of judgement and shorten the time of adjudication of these cases in the People’s Courts,” Deputy Chief Justice of the Supreme People’s Court, Lê Hồng Quang, said. Đồng Tháp is one of the provinces in Việt Nam with high rates of child abuse and juvenile offences. UNICEF has been supporting the province to build capacity on child friendly investigation since 2006. More than 70 police investigators and frontline investigators were trained on child-friendly and gender-sensitive investigation and interview skills. Đồng Tháp is also one of the first provinces to establish child-friendly police interview rooms at both the provincial and district levels. “Đồng Tháp deserves applause for building a local child protection system and promoting child-friendly justice and community-based support for juveniles in conflict with the law. I encourage Đồng Tháp to maintain this momentum and be a role model for all provinces,” Abdel-Jelil said. In the lead up to the launch of the court, UNICEF has provided training to Family and Juvenile judges on children’s rights and justice for children. The training equips 62 judges with an understanding of children’s rights, child and adolescent development and basic skills on child-friendly and gender-sensitive procedures. The first Family and Juvenile Court was launched in HCM City in 2016. It is expected that court will be rolled out across all provinces of Việt Nam. No clean water for residents
 Thousands of residents in the Đại Thanh residential area of Hà Nội face water shortages in the peak of summer.-- Photo laodong.vn Hà Nội has been entering the peak of summer, causing an increased demand for water. But at present, thousands of citizens in apartment buildings are facing water shortages, lasting for days at a time. Nguyễn Anh Việt, director of Viwaco - Clean Water Construction Investment and Trading Joint-Stock Company, said the cause of water shortages is a break of a Đà River pipe. One of the worst hit places was the Đại Thanh residential area, in Tả Thanh Oai Commune of Thanh Trì District, where thousands of inhabitants were extremely anxious about the lack of water. “I dare not go to the toilet because it doesn’t always flush,” Trần Phương Lâm, a resident of Đại Thanh urban area told Lao Động (Labour) newspaper. Looking down at the tap that no longer pours water to wash his dishes, Lâm, living in the CT8A building said angrily: “In recent days, my building has no water, so life for the whole family has been a big mess.” “I had to take the children back to the countryside, because there is no water, no one can survive,” the 40-year-old man said. “Here I see the building’s workers trying to pump water three times per day, but if a family doesn’t have a water tank, they will have no water for daily use.” Facing the water shortage for daily living, thousands of residents in the Đại Thanh residential area can’t believe that they still live in fear of a lack of clean water. Phạm Huy Hiệp, a resident of the 31st floor of the CT8A building, said on June 14 the building’s management board posted a water-cut off schedule, announcing that one day later the water supply was expected to be resumed. “Although residents are informed in advance about water-cut off times, instead of a day, we have suffered for five days,” he said. The building’s investor, the water provider, also didn’t explain when the water would be operational again. According to residents, on June 19, the water shortage still was occurring in many buildings, including CT8A of the Đại Thanh residential area. The building’s water tank is always dry, sometimes water is dripping, and many families have to mobilise saucepans and pots in all sizes, to collect water. Hiệp said his family always has members at home so they should open water tap 24/7 to reserve water. “There are days we have to stay up until midnight or wake up at 5am to collect water.” Several households had to temporarily move to their relatives or friends’ houses. At present, the water-cutting situation alternates between the buildings of the Đại Thanh residential area. Nguyễn Thị Thúy, living in the CT8B building said "Our building suffered water shortages last week, but now it has water. Recalling the scene without water in the past few days, the whole family shivered. We must have dinner at vendor shops and every day we move to our friend’s house for washing.” Long-day water shortages have turned the lives of most of the families upside down, especially families with elderly and children. Lê Thị Diệp, a resident on the second floor of the CT8A building said “I have a 6-month-old child so activities without water cause the family distress. Other people can take a bath at a friend’s house or eat at a restaurant, but my family has to save every drop or buy water filters for cooking and bathing for the baby, so it’s difficult.” On June 19 Nguyễn Anh Việt told Lao Động (Labour) newspaper that as of 5pm on Tuesday, the Đại Thanh residential area mostly had water, with the exception of the CT8A building, because water workers still were repairing the water supply pipeline. Nguyễn Hữu Tài, Chairman of the People’s Council of Tả Thanh Oai Commune confirmed that clean water was back to many buildings in the Đại Thanh residential area, but the CT8A building still has a problem so it contacted the water company about this issue. GEF 6 holds Council Meeting on second working day in Da Nang
At the event The 54th Global Environment Facility (GEF) Council Meeting was a highlight during the second working day of the sixth GEF Assembly (GEF 6) in the central city of Da Nang on June 24. The GEF Council Meeting, which will last until June 26, looks into the updated co-financing strategy, the GEF partnership, rules for the System for Transparent Allocation of Resources, the 2019 GEF Business Plan and Corporate Budget and the seventh replenishment of the GEF Trust Fund (GEF-7). GEF CEO and Chairperson Naoko Ishii said it is the final council meeting during the GEF’s 6th cycle, providing a platform to review four-year achievements and introduce reforms regarding approaches for cities, supply chains and food security in Africa. She added that the GEF Assembly has embarked on a new project in the Amazon Basin, supported innovation projects and launched a capacity building initiative for transparency. Sideline events on June 24 discussed important global issues such as food, the environment, climate change, biodiversity preservation, and land degradation mitigation, food system strategy and cool chain system to increase resilience to climate change, strengthening national capacity to meet demand for transparency, sustainable infrastructure and guidelines for GEF policy implementation on the involvement of parties concerned.-VNA Thousands join “Move for my healthy lung” event
 A free walk/running event titled “Move for my healthy lung” was held at Hanoi’s Ly Thai To Park on June 24, drawing thousands of participants, including disabled people and children (Photo: vtv.vn) A free walk/running event titled “Move for my healthy lung” was held at Hanoi’s Ly Thai To Park on June 24, drawing thousands of participants, including disabled people and children. The event was organised by the Central Lung Hospital and the National Tuberculosis Control Programme to mark the 61st founding anniversary of the Central Lung Hospital (June 24). It also aimed to encourage regular physical exercise to improve people’s health and raise public awareness of lung health. In his remarks, Deputy Minister of Health Nguyen Viet Tien noted that although the number of TB cases in Vietnam has been significantly reduced, there are hundreds of thousands of new TB patients detected annually while many others are receiving treatment. The event was based on the “Walk the Talk” event initiated by the World Health Organisation (WHO), which took place in May in Geneva, Switzerland. At the event, the organisers also called for donations to a fund supporting treatment for TB patients and those who are affected by the disease. TB remains the leading cause of fatality in the world, leading to the deaths of nearly 2 million people every year, particularly drug-resistant TB has threatened global health. In Vietnam, the WHO estimates that there are nearly 130,000 new cases of TB diagnosed each year, resulting in some 16,000 deaths in the Southeast Asian country in 2015. Vietnam ranked 16h among 30 countries with the highest number of TB patients globally. It also ranked 13th among 30 countries with the biggest burden of multi drug-resistant TB in the world. The country is a leading nation in terms of TB prevention efforts. The rate of successful treatment for multi drug resistant TB in Vietnam is over 70 percent, much higher than the world’s rate of 54 percent. Thanks to early detection and effective treatment, TB-related deaths reduced 3,000 cases during 2015-2016. The country has set a target to cut 30 percent of TB infection cases and 40 percent of TB deaths during 2015-2020.-VNA Workshop discuses strategies for food, cool chain development
 Ariyana conventional centre in Da Nang - the venue of GEF-6 activities (Photo: http://daidoanket.vn) A workshop was held in the central city of Da Nang on June 24 to discuss strategies for food and cool chain development with the aim of enhancing adaptation to climate change. Co-organised by the United Nations Industrial Development Organisation (UNIDO) and relevant agencies, the event was part of the sixth Assembly of the Global Environment Facility (GEF) that opened in the central city of Da Nang on June 23 and will run through June 29. During the workshop, participants shared their ideas and experience on the significance of integrated approaches on food chain which opens the way to multi-benefits in the global scale. Efforts of UNIDO and its partners in the field were highlighted, along with methods of approaching food in value chains. At the same time, representatives of the Vietnamese Ministry of Natural Resources and Environment and private enterprises as well as integrated cold chain logistics service provider ABA CoolTrans and Viet Hien coffee processing firm, also shared their practical experience. Participants also stressed the need of combining innovative technologies in processing, transporting and storing agricultural products to minimise energy use as well as post-harvest losses and waste, thus enhancing the products’ quality and climate change mitigation. This year, UNIDO will support Vietnam by sharing international practices to private sectors and technology research facilities, creating favourable conditions for technology transfer activities, human resource development, environmental protection, efficient energy use, investment promotion, and responsible business. UNIDO will also assist Vietnam in enhancing capacity in preparing for and implementing strategies and policies to develop industry and trade with the target of greener and more energy efficient production. GEF was established on the eve of 1992 in Rio Earth Summit to help tackle the planet’s most pressing environmental problems. So far, the GEF has provided over 17.9 billion USD in grants and mobilised an additional 93.2 billion in co-financing for more than 4,500 projects in 170 countries. Today, GEF is an international partnership of 183 countries, international institutions, civil society organisations and the private sector that addresses global environmental issues.-VNA Work starts on 400-bed general hospital in Bac Lieu province
 Design of the hospital (http://dantri.com.vn) A ceremony was held in Bac Lieu city in the Mekong Delta province of Bac Lieu to start construction of Bac Lieu-Sai Gon General Hospital which is estimated to cost nearly 1.37 trillion VND (60.3 million USD). According to Truong Thien Niem, Chairwoman of the Board of Directors of the Bac Lieu-Sai Gon General Hospital JSC, the investor of the project, said that the hospital covers 38,000 square metres in Ward 1 of Bac Lieu city. The 10-storey hospital with 400 beds, is expected to become operational in late 2020. In the first phase, the project has investment of over 992 billion VND, and the capital for the second phase is more than 376 billion VND. It will be equipped with the most modern medical equipment. It is hoped to give better medical services to local people and train medical staff for Bac Lieu and neighbouring provinces. Addressing the event, Vuong Phuong Nam, Vice Chairman of the People’s Committee of Bac Lieu province, said that the project is in the province’s list of projects calling for investment. With the hope of improving the quality of medical checks-up and treatment, Bac Lieu has paid much attention to luring investment in health care sector, he said, adding that along with health care system in localities, the province has only 12 medical establishments, resulting in overload in provincial hospitals. Nam requested the investor to ensure the project’s quality and progress, while pledging that the provincial administration and departments will create optimal conditions for the implementation of the project. “Vietnam Day” held in Ukraine’s Lviv city
 A photo of the "Vietnam Day" programme held in Lviv city of Ukraine (Photo: VOV) The “Vietnam Day” programme was recently held in Lviv city, the centre of culture and history in western Ukraine, as part of activities of the Vietnamese Cultural Year in Ukraine. The event was co-held by the Embassy of Vietnam in Ukraine and the Vietnamese Ministry of Culture, Sports and Tourism, the Vietnam-Ukraine Friendship Association and local authorities. Organised in western Ukraine for the first time, the “Vietnam Day” saw the participation of Vietnamese people across the nation as well as in neighbouring countries such as Germany, Poland and Hungary. The programme featured a series of activities, including fairs introducing Vietnamese goods and cuisine, along with seminars on tourism cooperation and a photo exhibition on Vietnam’s landscapes and people. A highlight of the event was an art programme with Vietnam’s traditional instruments performed by artists of Vietnam and overseas Vietnamese (OVs) from Ukraine’s cities of Kiev, Odessa and Kharkov, attracting many people and tourists in Lviv city. At the opening ceremony, Vietnamese Ambassador to Ukraine Nguyen Anh Tuan stressed that the event was designed to introduce images of Vietnam to Ukrainian friends in the western region and tourists in Lviv, thus deepening the Vietnam-Ukraine traditional friendship. It also aimed to enhance mutual understanding of people and businesses of the two countries and foster the connection of Vietnam’s localities and agencies with Ukraine and Lviv city in particular, he added. The event also offered chances for OVs in Ukraine and neighbouring countries to meet with each other and their Ukrainian friends. Lam Dong: Thousands join summer voluntary campaign
 Youths collect garbage around Xuan Huong Lake (Photo: thanhnien.vn) More than 5,000 youths in the Central Highlands province of Lam Dong have registered to participate in the Summer Volunteer Campaign 2018 and the 6th Chu Nhat xanh (Green Sunday) which were launched in Da Lat city on June 23. The campaign, which featured four topics of green summer, red flamboyant, red holiday and green march, targets to introduce jobs to at least 1,500 youths, provide free medical check-ups and medicine for 3,000 people, and mobilise local youth to donate at least 2,000 blood units. Each district youth union will strive to construct five kilometres of rural roads and canal system while joining hands to plant 120,000 trees in the province in 2018. On the occasion, the province’s Ho Chi Minh Communist Youth Union rolled out the Tiep Suc Mua Thi (examination assistance) campaign to support students sitting the national high school graduation examinations at 37 high schools. The same day, over 1,000 youths collected garbage and cleaned up Lam Vien square and areas surrounding Xuan Huong Lake in response to the Green Sunday event. Red Journey attracts ethnic minority donors in Dak Lak Blood donation campaign “Hanh trinh Do” (Red Journey) has returned to the Central Highlands province of Dak Lak, attracting a large number of local ethnics, including those from rural areas, to the voluntary activity. The two donation events in Buon Ma Thuot city and Ea Sup district on June 21 and 23 have collected more than 1,640 blood units. This is the fifth year the Red Journey has been held in Dak Lak. It drew numerous people of such ethnic groups as Kinh, E De, M’nong, Thai, Tay and Nung, and different age groups. The number of blood donors from remote and poor communes of the border district of Ea Sup was also higher than expectations. This year, the campaign is expected to collect at least 30,000 blood units when it takes place in 26 provinces and cities across the country from June 13 to July 14. The Red Journey was initiated by the National Steering Committee for Voluntary Blood Donation and the National Institute of Haematology and Blood Transfusion in 2013. It is a nationwide communication campaign helping to address the shortage of blood for medical treatment in summer. It has helped increase groups of blood donors and train many localities in the organisation of blood donation events to provide for those who need in accidents and disasters. More than 120,000 blood units were donated in the programme from 2013 to 2017. Irrigation works in Dien Bien, Thanh Hoa need repairs  A weir in Dien Bien province Nearly 900 irrigation systems in the northern mountainous province of Dien Bien will be reinforced in preparation for the upcoming flood season. Among those systems are 13 reservoirs, two electrical pumping stations and more than 880 spillways and temporary dams. Two other reservoirs are under construction, including Ang Cang in Muong Ang district and Nam Khau Hu in Dien Bien district. Damaged constructions pose severe threats to people who live in downstream or riverside areas. According to Nguyen Van Dinh, head of the Department of Water Management, the agency tasked reservoir owners to evaluate the construction’s conditions to draw up plans of flood prevention and resilience. Forest protection and better communication between reservoir owners and local authorities were stressed as essential. Nguyen Van Duyen, Director of Dien Bien Irrigation Management Company, said that since April 2018, the company had inspected 12 reservoirs and dams that it reinforced for extreme weather events. Dien Bien province has several irrigation systems located in isolated areas which pose difficulties for search and rescue operations. Moreover, some reservoirs such as Ban Ban, Na Huom and Sai Luong are inaccessible in the flood season. Meanwhile, the breakwater project along Quang Thai beach in the central province of Thanh Hoa is being postponed, exposing locals to danger when the storm season approaches. The project, which was invested with more than 180 billion VND (7.9 million USD) and was expected to be completed this month, is currently halted due to slow disbursement. At the same time, the casuarina forest playing the role of a natural breakwater was completely felled, letting waves directly hit the shore. Pham Trung Tuan, Vice Chairman of the Quang Thai commune People’s Committee, said that if a powerful storm hit the area, 300 local families would face severe damage. Because of the postponed project, the landscape is negatively affected, fishing boats have no place to be moored and local fishing is ruined, he said. Conference reviews Korean-funded green city planning project
 A view of the conference The Vietnamese Ministry of Construction and the Korea International Cooperation Agency (KOICA) co-hosted a conference in Hanoi on June 22 to update on the implementation of a Korean-funded technical assistance project on planning green cities in Vietnam. The 6.5 million USD project was planned to be implemented in 29 months in Hanoi, Yen Binh district (Thai Nguyen province) and Rach Gia city (Kien Giang province). Tran Thu Hang, Head of the Planning - Architecture Department under the Ministry of Construction, said after two years, the project has built a set of green city indexes, a Green City Planning Decision Support System (GDSS), and a legal framework for green city planning. It has also designed pilot planning options for the Yen Binh urban area and Rach Gia city, she added. Hang expected that the project will boost city management capacity and develop data on city planning nationwide, which in turn would help cities capitalise on their natural resources, reduce climate change impacts, and increase living standards toward sustainable development. Lee Dong-youn from the Jeongdo Uit company introduced the GDSS, saying its main functions are to assess local conditions in terms of green city criteria, population, land usage, among others, to forecast demand for land use, and to calculate the amount of greenhouse emissions. He said it is necessary to continuously adding more data to the system, monitor the green city criteria and indexes, and prepare needed infrastructure. Luu Duc Minh, Director of the Institute of Environment Planning, Urban and Rural Infrastructure under the Vietnam Institute for Urban and Rural Planning (VIUP), said Vietnam should improve its capacity in inputting data to the GDSS, as the country has yet to have data systems at national and provincial levels. Red Journey: 1,500 blood units collected in HCM City
 A member of the Red Journey's organising board presents flowers to a blood donor at the blood donation event in HCM City on June 22 Ho Chi Minh City collected a total of 1,500 blood units on June 22 as part of a nationwide blood donation campaign “Hanh Trinh Do” (Red Journey). Starting on June 13, the campaign has been held in Ca Mau, Kien Giang, Hai Phong, Quang Ninh, Can Tho, Lam Dong, Dak Lak and HCM City. To date, more than 7,500 blood units were collected during this year’s campaign. The organising board of the Red Journey campaign puts a programme themed “Globin Cipher” in activities in Ho Chi Minh City and several other localities with the aim to raise community awareness of thalassemia - a genetic blood disorder that can lead to heart failure and liver problems. Doctor Ngo Manh Quan, from the National Institute of Haematology and Blood Transfusion, stressed the importance of the work, especially for young people and those about to get married, as around 2,000 Vietnamese babies are born with thalassemia each year. Luu Hoang Phuc, a resident in HCM City’s Phu Nhuan district, who has donated his blood 26 times, said: “Each blood donation takes around one hour, but can save someone from critical conditions. I feel very happy”. “Red Journey” is a cross-country campaign initiated by the National Steering Committee for Voluntary Blood Donation and the National Institute of Haematology and Blood Transfusion in 2013, aiming to raise public awareness of the need for blood donation as well as thalassaemia, a genetic blood disorder that can lead to heart failure and liver problems, and to address the shortage of blood for medical use. Over the past five years, more than 120,000 blood units were collected, helping to reduce blood shortages during summer and saves lives of thousands of patients across the country. This year’s campaign will conclude on July 14, passing through 26 cities and provinces and expected to collect at least 30,000 blood units. In 2017, the campaign collected over 38,000 blood units nationwide. Hanoi improves supply, quality of tap water
 A water treatment system of the Hanoi Water Co. Ltd The capital city of Hanoi is working to realise its set target to make tap water safe for drinking by 2020. As the city considers supplying clean water to local people as a way to improve living standards, it has plans to upgrade and build more water plants, pipelines and treatment system. A water plant using water from Duong River with a capacity of 300,000 cubic metres per day and night is expected to be completed and put into operation this year. Meanwhile, the existing plant using water supply from Da River will have its capacity raised from 300,000 cubic metres to 600,000 cubic metres per day and night. In addition, a new pipeline system and a plant using water from the Hong River will be built and slated to be completed by 2020. The city is working to expand the water supplying system to 70,391 households in 34 communes, and calling for investment to provide clean water for rural communities in Me Linh, Ba Vi, Phuc Tho, Dan Phuong, Thach That and Chuong My districts which are yet to have access to clean water. The municipal People’s Committee has required that all new water plants and pipelines must use advanced technology so that by 2020, local tap water will be drinkable. Chairman of the municipal People’s Committee Nguyen Duc Chung said that the city has increased media works to raise public awareness of the importance of clean water and water saving. The city has ordered relevant departments and branches to handle difficulties in site clearance for water supply projects and inspect the projects’ progress, he added. Soc Trang develops eco-tourism in Dung islet
 Emblazoned with lush carpet of forest with diversified flora and fauna, Cu Lao Dung (Dung islet) in the Mekong Delta province of Soc Trang boasts huge potential to develop eco-tourism. Surrounded by criss-cross canal system, Cu Lao Dung is home to 77 species of birds, 15 species of reptiles and amphibians, and 18 species of mammal animals, including some 300-400 long-tailed monkeys living in the mangrove forest. The islet is also well-off for seafood and aquatic creatures with 661 types of fish, 35 types of shrimp, 23 types of cuttlefish as well as many kinds of crabs and molluscs. Blessed with favourable climate, Cu Lao Dung is an ideal destination for those who want to experience discovery and leisure tourism. Besides being attracted by orchards in An Thanh Nhut and An Thanh Tay communes, visitors will have a chance to contemplate immense sugar cane fields and colourful flower gardens, enjoy local staples and visit cultural and historic relic sites like Uncle Ho Temple and Rach Gia victory memorial site. The Cu Lao Dung district People’s Committee is building a master plan to branch out eco-tourism in companion with preserving natural resources. Due attention will be given to upgrading infrastructure, training personnel and developing standout tourism products. The district will issue preferential mechanisms and policies to attract tourism investments while foster promotion activities to introduce standout features of Cu Lao Dung to domestic and international friends. Cooperation with travel agents is also put in the first line of measures to lure visitors to the islet. Regarding biodiversity preservation, the district will continue programmes to safeguard endangered animals, sustainably protect coastal preventive forests, carry out pilot projects on clean development in forestry, and encourage initiatives aimed at sustainable forestry land management in combination with poverty alleviation. Also, it will work to create stable livelihoods for local people. Regional workshop on human trafficking prevention
 Participants take photo at the workshop (Photo: VOV) A regional workshop on prevention strategies to combat trafficking in persons, especially for women and children, and enhance access to information and community-based protection system was held in Hanoi on June 21-22. The event was jointly held by the ASEAN Intergovernmental Commission on Human Rights (AICHR), ASEAN National Secretariat of Vietnam, ASEAN-US Partnership for Good Governance, Equitable and Sustainable Development and Security (PROGRESS), and the governments of Australia and Turkey. Speaking at the opening ceremony, Assistant Minister of Foreign Affairs Ambassador Pham Sanh Chau reiterated the determination of the Vietnamese government to continue implementing effectively policies and measures to prevent human trafficking. He called for stronger regional and international cooperation and mobilisation of financial resources to promote efforts in the field. Participants said the prevention of human trafficking needs the joint efforts of governments, relevant agencies, organisations and individuals in the society. They encourage the participation of the involved parties in consulting and implementing policies related to anti-trafficking of persons to build a people-centred ASEAN community. The workshop put forth some recommendations to enhance the efficiency of prevention strategies and emphasised on such regional and international commitments as the ASEAN Convention Against Trafficking in Persons, Especially Women and Children (ACTIP), ASEAN Plan of Action Against Trafficking in Persons, Especially Women and Children (APA), Bohol Trafficking in Persons (TIP) Work Plan 2017-2020, the United Nations Convention against Transnational Organised Crime (UNTOC), and the Protocol to Prevent, Suppress and Punish Trafficking in Persons, especially Women and Children. These are foundation documents and necessary tools to strengthen cooperation in human trafficking prevention, heard the workshop. Founded in 1967, the 10-member ASEAN groups Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam. Universal Music to open TV channel in Vietnam The new music, entertainment and media channel, UM Channel, will be launched under a tripartite agreement has been signed between Universal Music Group (UMG), Vietnamese multi-channel network Yeah1 Group (YEG) and the online digital distribution service Global Tunes. The content of UM Channel will include music videos (MV), international and Vietnamese entertainment news, rebroadcast of live concerts and MV production. It is also expected to feature many other special programs such as talent competitions, talk shows with international artists, and exclusive footage of Vietnamese celebrities at global events. The airtime division will be 70% for music and 30% for other content types. It is unclear when UM Channel will be officially launched. At a recent signing ceremony, three Vietnamese singers including Minh Hang, Isaac and Vu Cat Tuong were announced as the ambassadors of UM Channel. UMG is a world’s leading music company, which owns and operates a broad array of businesses engaged in recorded music, music publishing, merchandising, and audiovisual content in more than 60 countries. Some of the Universal Music Group artists are Taylor Swift, Rihanna and Kanye West. Global Tunes is the technology for music distribution, talent search and community platform with a global exclusive partnership with UMG. And Yeah1, with its community and roots in tech and television, is now aggressively expanding into the region and beyond for its digital ambitions. VNN |
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Social News 27/6 Bangladesh paper supports Vietnam’s cyber security law
 Lawmakers press buttons to adopt Law on Cyber Security Bangladesh’s Dhakatribune newspaper recently published an article showing strong arguments and proof regarding the US to support Vietnam’s Law on Cyber Security, saying that the law will bring more jobs to Vietnam and stronger commitment from investors which would help stabilise growth for the country. About the line between cyber security and privacy right, the article disagrees with the opinion that the law is set to restrict Facebook and Google, hurt investors’ confidence and stunt the growth of Vietnam’s digital economy, given that it requires Vietnamese data to be stored within the country and allow the government full access as part of security measures. It cited the example of the US, saying that there has been a much more robust government surveillance system in place under its Patriot Act, in the aftermath of the 9/11 terrorist attack and anthrax attack. The internet and Big Data-related businesses expanded, while the general masses in the US lived under their government’s active and heavy-handed surveillance. Vietnam is an independent country and its legislatures have the right to get a better understanding of their citizens’ data in order to protect their national interests, it said, adding that Vietnam is simply exercising its right to protect their citizens from any possible manipulation. According to the article, Europe has an extensive cyber security policy, and both Facebook and Google are currently negotiating with the EU to settle the damage they have dealt. The new regulation will require these companies, who will continue to operate in Vietnam, to open offices in Vietnam and abide by the laws of the land (including storing data in their soil and to hand over any required access to government authorities). In conclusion, the article welcomed the new regulation which it said, will actually render additional businesses and services free from possible manipulation. HCM City, Finland discuss smart urban development
At the working session Ho Chi Minh City wants to receive support from domestic and foreign resources in smart urban development, said Vice Chairman of the municipal People’s Committee Tran Vinh Tuyen. During a working session in the city on June 26 with a delegation of Finnish experts in smart urban development and innovation led by Ambassador of Finland to Vietnam Kari Kahiluoto, Tuyen said the city is keen on fields of Finland’s strength such as smart health care and transport development, and sport management. He added that the city’s smart urban development project aims to put its economy on rapid and sustainable growth path, create a close interaction between authorities and people to bring practical and long-term benefits to them. Ambassador Kahiluoto, for his part, said leading Finnish experts in smart urban development and innovation area are ready to share experience and want to establish long-term cooperation with the city in the field. Finland wants to foster ties with the city to build smart urban development initiatives, provide solutions to projects in smart urban transportation, community-based health care and clean energy, he said. He promised that Finland will attend an international conference on calling for investment in sub-components of the smart urban development project scheduled for this July as invited by the city authorities, adding that Finnish firms and experts will recommend specific technical solutions at the event. Finnish experts introduced several outstanding smart urban and innovation park building projects abroad, technical requirements for the process. They also expressed readiness to transfer technological advances and finance to the city in the effort. International organisations help Vietnam in tobacco prevention  Luong Ngoc Khue, director of the Vietnam Fund for the Prevention of Tobacco Harms Vietnam’s Health Ministry and the Fund for the Prevention of Tobacco Harms on June 26 held a meeting of the tobacco control working group, gathering representatives from key tobacco control organisations in Vietnam and its development partners. The meeting was attended by Head of the Bloomberg Philanthropies Public Health Programme Kelly Henning, and experts from the HealthBridge Foundation, World Health Organisation, Vital Strategies organisation and Chicago University, among others. Luong Ngoc Khue, director of the Vietnam Fund for the Prevention of Tobacco Harms, said Vietnam has built a network on the prevention of tobacco harm in all 63 provinces and cities. The localities have built non-smoking areas and the cities of Ha Long, Hue, Nha Trang and Hoi An are developing smoke-free tourism areas. Khue said about 1,200 secondary and high schools and nearly 130 colleges and universities nationwide have banned smoking. However, he noted that at present, nearly half of Vietnamese men smoke, a high figure he said that needs to be reduced. At the meeting, experts discussed the enforcement of the Law on the Prevention and Control of Tobacco Harms in Vietnam, including increases in tobacco prices and import duties, inspections and punishment of violations in the implementation of a smoke-free environment and Vietnam’s Programme on Tobacco Prevention and Control. According to Health Minister Nguyen Thi Kim Tien, tobacco costs Vietnamese smokers 31 trillion VND (1.36 billion USD) per year. Treatment for five major diseases - lung cancer, gastrointestinal-respiratory cancer, chronic obstructive pulmonary disease, heart attacks and strokes, caused by smoking, are estimated to cost 24 trillion VND (1.05 billion USD). Multi-million dollar plan to prevent child drownings  Nguyễn Thị Hà, Vice Minister of Labour, Invalids and Social Affairs (MOLISA) said that nine children die from drowning every day in Việt Nam. A new scheme aimed at preventing children from drowning was launched on Monday in the capital city. Kelly Henning, director of Bloomberg Philanthropies’s Public Health Programmes, announced a commitment of US$2.4 million for the first two years of the five-year programme. The programme will focus on proper supervision of children under five years old, and survival swimming lessons for those aged from six to 15 years old. It will also raise awareness about risk factors and preventive measures, and strengthen co-ordination among relevant agencies in Việt Nam. Drowning was a ’silent epidemic’ that claimed the lives of more than 2,000 children each year in Việt Nam, making drowning the country’s leading cause of child deaths under 15, according to Nguyễn Thị Hà, vice minister of Labor, Invalids and Social Affairs. The rate of child drowning in Việt Nam is higher than in other Southeast Asian countries, and 10 times higher than in some developed countries. “Việt Nam has undertaken significant efforts to prevent child drowning, including adopting a strong legal framework,” said Hà. “Following close co-ordination among relevant ministries and social organizations, and with the support of national and international organizations, we can all contribute to securing a safe environment for our children.” The programme will begin with targeted support for local governments and communities in the provinces of Lào Cai, Yên Bái, Ninh Bình, Quảng Bình, Thanh Hóa, Đắk Lắk, Đồng Tháp and Sóc Trăng. New bus station on Belt Ring Road No.3 illogical: experts  Artist’s impression of Yên Sở’s new bus station, planned for Belt Ring Road No.3 in Hoàng Mai District. – Photo kinhtedothi.vn The recent decision of the Hà Nội People’s Committee to approve the construction of a new bus station on Belt Ring Road No.3 is contrary to the city’s prior plans to remove bus stations from the inner city, transport experts say. The new bus station, to be called the Yên Sở station, will be built on Belt Ring Road No.3 near Yên Sở Park in Hoàng Mai District, reported online newspaper vietnamplus.vn. Hà Nội plans to transform four major inter-provincial bus stations in the inner city, including Gia Lâm, Mỹ Đình, Giáp Bát and Nước Ngầm, into car parks and inner-city bus interchanges by 2020. The changes are part of the draft plan to improve parking lots, bus stations and bus interchanges by 2030. By moving the major inter-provincial bus stations outside of the central city, urban planners hope to reduce heavy traffic that currently ensnares commuters around the stations. Gia Lâm and Giáp Bát bus stations are to be turned into parking lots by 2020 with Mỹ Đình and Nước Ngầm following five years later. Notably, the Yên Sở station is just 1km away from the current Nước Ngầm bus station. “Building Yên Sở bus station is contrary to the plan of moving bus stations out of the inner city. That plan should not be done by half”, said Nguyễn Văn Thanh, president of Việt Nam Auto Transport Association. “The city might not attract private investment into the new stations in the outlying areas, as is the plan if Yên Sở station is built”, he said. Funds to construct the bus station amount to VNĐ118 billion (US$5.1 million), of which investor’s capital is VNĐ30 billion (US$1.3 million), accounting for 25.4 per cent. The rest was loaned and mobilised from other sources. The Yên Sở Station is to be built on an area of 3.2ha. It will be used for coaches and trucks during the coming transitional period as officials construct new bus stations outside of the city. Yên Sở station will have a capacity of 800-1,000 fixed-route coaches and 200 trucks daily. Although it is meant to be a temporary station, the city has granted an operating license of 50 years. Bùi Danh Liên, president of the Hà Nội Transport Association agreed with Thanh’s criticisms. “Building Yên Sở station is illogical. It is too small to share the overload of Nước Ngầm station”, he said. “And removing the current stations which were operating well was non-sense”. The ground clearance for Yên Sở bus station has not been completed due to protests by local residents. Other transport experts also disagreed with the city’s plan to remove the current bus stations from the inner city. The draft plan claims new bus stations in the Belt Road No.4 area are more convenient for passengers to travel inter-province routes and will help ease traffic congestion in the inner city. “But that plan is contrary to trend in the world, especially in European countries, where they place key bus and metro stations in the inner city”, said Nguyễn Xuân Thủy, a transport expert and former of director of Transport Publishing House. According to Thủy, building new bus stations on Belt Ring Road No.4, which is 10-20km from the inner city, would cause inconvenience and a higher cost of transport for passengers. Moreover, traffic congestion would actually worsen if everyday thousands of bus riders are moving to and from the inner city and suburban areas. “Removing the current bus stations from the city will cause losses of billions of đồng because the stations have already received much investment, never mind the cost of using the land to construct new stations”, Thủy told the paper. The city’s weak urban and transport planning is contributing to its terrible traffic congestion at present, said Thủy. For southern farmers, mangosteen no longer pays  A farmer in Bến Tre Province in the Cửu Long (Mekong Delta) tends to his mangosteen tree. Though he has grown and sold mangosteen fruit for 20 years, Lê Văn Sơn of the Bến Tre Province in the Cửu Long (Mekong) Delta has gradually removed the trees from his orchard over the last two years. The 0.6ha formerly filled with mangosteen has been replaced by durian and mango trees on his 1.2ha orchard in Chợ Lách District. Sơn said he made the right choice. “I used to make VNĐ15 million (US$655) a year selling mangosteen fruit. But crop failures in the past three years halved my earnings from the fruit to only VNĐ7 million ($306) per year,” he said. Having earned VNĐ1 billion ($44,000) from selling fruits from 100,000 durian and mango trees in the past two years, Sơn said he might get rid of his mangosteen trees altogether. “Mangosteen has helped put food on our table for a long time, but it seems to have become outdated,” he said. “I’m thinking of removing all the mangosteen trees from my orchard.” Many farmers in Bến Tre Province have stopped growing mangosteen due to its low economic efficiency, though the fruit being one of the province’s five fruit specialties, Thanh Niên (Young People) newspaper reported. A historic saltwater intrusion that affected the province in 2016 is blamed for the situation. “Our mangoteen crops kept failing after that,” said Nguyễn Văn Thùy, a farmer in the province’s Vĩnh Hòa Commune. A month ago he decided to cut off 3,000sq.m of mangoteen trees that he had been growing for 30 years. “I couldn’t take it anymore and decided to switch to growing flowers,” Thùy said. Switching from mangosteen to other types of fruits and flowers causes farmers trouble because they are not familiar with the new crops and unsure who to sell them to. But since mangosteen takes about five years to bear fruit, the farmers’ decision is basically irreversible. It would take years before they can start earning money again, if they want to get back into the mangosteen business. Trademark infringement is another factor that discourages farmers from growing mangosteen. For a long time, Bến Tre Province has been known for its Cái Mơn fruit brand, but more fruit products from other localities have been snuck into the province and fraudulently sold under the brand. “We all know that our mangosteen growing area and yields have been decreasing. But when the mangosteen season comes, the fruit is sold everywhere at a cheaper price than what we normally offer,” said mangosteen grower Bùi Văn Công of Long Thới Commune. “This is why we gave up on the hope of having an authentic mangosteen brand,” he said. The province’s agricultural authorities seem unsure how to deal with the situation. No measures have been applied to improve soil quality since the 2016 saltwater intrusion. The province had 1,600ha of mangosteen growing area in 2014, and it’s been on the decline ever since, said Võ Văn Nam, manager of the Cultivation and Plant Protection Division under Bến Tre Province’s Department of Agricultural and Rural Development. “This affected the province’s strategy of developing five fruit specialties, including durian, rambutan, green-skin pomelo, longan and mangosteen,” he said. Bùi Thanh Liêm, director of the agricultural division of Chợ Huyện District, said that it is hard for mangosteen to survive saltwater intrusion and the extreme weather conditions that the Mekong Delta experienced in recent years, which caused a drastic reduction in mangosteen yields. “Considering the profits farmers have been making from selling other types of fruits and flowers, it is understandable that they stopped growing mangosteen,” he said. “We find it hard to maintain the remaining mangosteen growing area, let alone consider increasing it,” he said. Cao Bằng to host song and dance fest  Artists from Cao Bằng Art Troupe perform on stage. The National Song and Dance Festival will gather 12 troupes from northern provinces between June 29 and July 7.— Photo bienphong.com.vn Hundreds artists of 12 art troupes from northern mountainous provinces will take part in a national song and dance festival in Cao Bằng Province between June 29 and July 7. Participants include troupes from Điện Biên, Sơn La, and Lào Cai, as well as Yên Bái and Tuyên Quang. The opening ceremony and music show, which will be broadcast live on VTV channel, will take place at 8 pm on June 29 at the Cao Bằng Provincial Conventional Centre. The closing ceremony will take place on July 27 at 8pm. The opening and closing shows will feature the most distinguished performances from participating troupes. During the festival, the troupes will perform before a local audience, while three troupes will tour Cao Bằng City and other districts such as Trùng Khánh and Hà Quảng.. Organisers said the event is an opportunity for professional art troupes and artists to engage in cultural exchange and for young talents to shine. The event also aims to encourage art troupes to stage high quality performances to entertain audiences. GEF 6 side event calls for joining hands to protect ocean
 Participants in the “Joining hands to protect the ocean” programme clean up a beach in Da Nang city Vietnam’s Ministry of Natural Resources and Environment (MoNRE) organised a programme titled “Joining hands to protect the ocean” in the central coastal city of Da Nang on June 26 in response to one of the themes of the 6th Assembly of the Global Environment Facility (GEF) which is taking place in Da Nang. Addressing the programme’s launch, MoNRE Deputy Minister Vo Tuan Nhan said the increasing volume of trash, especially plastic oceanic waste, is threatening the beauty of Da Nang, which has won numerous titles such as the best city for living in Vietnam or one of the most favourite destinations in the world in 2015. He stressed that plastic trash has become a big threat to the world’s oceans in general and Vietnam’s seas in particular, calling on ministries, agencies, local administrations, organisations, businesses and individuals to join hands with the Natural Resources and Environment sector to carry out regular and effective campaigns to clean up the beaches, thus preserving the marine environment. Under Secretary-General of the UN and Executive Director of UN-Habitat Maimunah Mohd Sharif told the event that marine pollution is one of the biggest concerns nowadays, which is worsening at a pace unseen before due to waste from industrial and agricultural production as well as daily life. She cited statistics of the World Economic Forum that around 8 million tonnes of plastic waste were discharged into the ocean every year, while 3 billion people around the world rely on the ocean for their livelihoods. Therefore, it is necessary to raise people’s awareness about marine trash and community responsibility in managing and protecting the marine environment. The UN Under Secretary-General stressed that preservation and sustainable use of the ocean and marine resources as one of the Sustainable Development Goals set by the UN. She pledged to cooperate with and support Vietnamese partners, especially the MoNRE, in combating marine pollution. Executive Coordinator of UNDP Global Environmental Finance Adriana Dinu said with 3,000 km of coast, Vietnam contributes to and also is affected by marine plastics. She stressed that with 20 percent of its GDP comes from marine resources, Vietnam must take necessary measures to protect and restore the ocean. After the launch, more than 600 delegates, young people and local residents collected trash and cleaned up the beaches, and planted trees. The 6th GEF Assembly is taking place in Da Nang from June 23-29. Children in Phu Yen receive free screenings, surgeries for facial deformity
Doctor provides checkup for a child patient A programme providing free screenings and operations for children with cleft lip, cleft palate was held at the General Hospital of the central coastal province of Phu Yen from June 22-26. It was organised by the 108 Military Hospital of the Ministry of Defence, doctors and volunteers from the Operation Smile organisation of the Republic of Korea and the provincial Department of Labour, Invalids and Social Affairs. Many children in Phu Yen as well as neighbouring provinces of Khanh Hoa, Binh Dinh and Dak Lak received medical checkups at the programme, the first of its kind held in Phu Yen province. After medical checkups and screenings, 100 children will receive free surgeries and treatment. The programme also supports travelling and accommodation fees for the patients. Nearly 300 children in Phu Yen with cleft lip and cleft palate have received medical checkups since 2008, and among them, 200 received free surgeries sponsored by donors found by the provincial Fund for Children. Some 2,000 babies are born with cleft lip and cleft palate every year in Vietnam. Since 1994, the National Fund for Vietnamese Children (NFVC) has run the Operation Smile programme to provide cleft lip and cleft palate surgeries for children. To date, nearly 30,000 children have benefited from the programme. The NFVC has also mobilised resources to provide post-surgery assistance for children, thus helping them practice pronunciation and integrate into the community. Red Journey blood donation campaign returns to Gia Lai The trans-nation Red Journey blood donation campaign kicked off in Chu Pah district, the Central Highlands province of Gia Lai on June 26, with more than 500 officials, cadres, workers and students taking part. More than 330 units of blood were collected at the event. It has been the third consecutive year the campaign was launched in Gia Lai, helping to collect donated blood for the treatment of patients. Deputy head of the campaign’s organising board Le Hoang Oanh said hospitals nationwide often lack blood during summer so that the National Steering Committee for Voluntary Blood Donation holds the annual campaign to ease the scarce blood supply. In 2017, nearly 1.5 million units of blood were collected nationwide, 98 percent of them were from voluntary donors. Over the past five years, the campaign has come to 46 cities and provinces nationwide, raising public awareness of the effort and acquiring more than 120,000 blood units. This year, the drive was scheduled to go through 26 cities and provinces. VNN |
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BUSINESS IN BRIEF 27/6 Industrial production expands 18 percent in Tien Giang  Workers at a seafood processing factory at the My Tho Industrial Park of Tien Giang province The Mekong Delta province of Tien Giang saw a record yearly growth of 18 percent in industrial production value in the first half of this year, to nearly 51.1 trillion VND (2.245 billion USD), according to Director of the province’s Department of Industry and Trade Ngo Van Tuan. The director said most major industries of the province such as food processing, beverages, garment making, shoes and metal production posted good growth compared to 2017. He noted that foreign-invested enterprises operating in key local industrial parks were the driving force behind the strong growth. Tuan cited as an example Heineken Vietnam Brewery Tien Giang whose beer output rose by 39.4 percent year on year. The local shoe making industry enjoyed a 25 percent growth with many orders from foreign partners, especially from China. The for-export tra fish processing industry also recorded an 18 percent increase despite trade barriers in the US. In the second half of the year, Tien Giang aims for 57.8 trillion VND (2.54 billion USD) in industrial production value, bringing the figure for the entire 2018 to nearly 108.9 trillion VND, up 18.5 percent from 2017. Also in the same period, Tien Giang raked in a total investment of more than 7.2 trillion VND, or 316.8 million USD, a 2.3-fold increase from the same period last year. Over 97.2 percent of the amount, or 7 trillion VND (308 million USD), have been poured into 18 new projects. Nearly 370 new enterprises have been established in the province in the January-June period with a total registered capital of more than 2.58 trillion VND (113.52 million USD), up 31.5 percent and 89 percent, respectively. Mumuso’s tax code identical to another Vietnamese company The information page of Mumuso Vietnam Co., Ltd. on hosocongty.vn shows no relation to South Korea as the representative and charter capital are from Vietnam and China. According to website hosocongty.vn, Mumuso Vietnam Co., Ltd. was licensed on October 25, 2016 in Tan Binh district, Ho Chi Minh City, and was officially put into operation on October 27, 2016. On May 25, 2018, the company moved its headquarters to District 3, Ho Chi Minh City. It is represented by Nham Phi Khanh with the charter capital of VND1 billion ($44,000). Notably, Mumuso Vietnam Co., Ltd.’s tax code is the same as that of Domesky Vietnam Co., Ltd., which was located at the same location as Mumuso’s headquarters in Tan Binh district, and is also represented by Nham Phi Khanh. Thus, the predecessor of Mumuso Vietnam is Domesky Vietnam. According to thanhnien.vn, 75 per cent of Mumuso’s charter capital comes from China. A leader of the Ho Chi Minh City Department of Trade and Industry told newswire on June 22 that he has not received news of an inspection of Mumuso’s business activities in the city. “We have not been informed that this retail chain is under inspection, but we are ready to collaborate and report to the media if an inspection is requested,” said he. Earlier, on May 10, the Ministry of Industry and Trade's (MoIT) Market Management Department has received documents from the South Korean Business Association asking to inspect Mumuso Vietnam. The department is checking the dossiers and legal certificates of the company. Another issue brought up with Mumuso's practices in Vietnam is the lack of Vietnamese-language labels and instructions, which is a violation of domestic regulations. According to the Hanoi Market Management Department, all imported goods have to be labelled in Vietnamese, including the name of the importer, the product, instruction manuals, and ingredients. If distributors do not label their imported goods in Vietnamese, they will be punished in accordance with Vietnamese regulations. The agency has seized over 200 items from Mumuso’s several branches for quality checks. Meanwhile, South Korean media expressed suspicions that Mumuso’s stores claim false South Korean origins because its headquarters is located in China. South Korean journalists also prepared a list of abnormalities in the company’s mode of operations and the origin of the products sold at its stores. The South Korean MBC channel is trying to discover the real origins of Mumuso to determine whether it is a South Korean brand and whether its goods are fake. There are many beauty items with designs and packaging very similar to products of famous South Korean brands, with the only difference being the name. This makes it very easy for customers to confuse items if they do not look at the products closely. Most South Korean words on the product packaging are also meaningless. On Mumuso’s website, they only say “Coming from South Korea” in South Korean. Mumuso claimed it is present in over 20 countries, but in South Korea it is completely unheard of and has no retail stores. Many Mumuso stores in Hanoi offer products labeled “Mumuso–Korea,” so customers widely believe that the brand is from South Korea. AgroViet 2018 on horizon The 18th Vietnam International Agriculture Trade Fair (AgroViet 2018) will take place from June 28 to July 1 in the central city of Da Nang. Held by the Ministry of Agriculture and Rural Development (MARD), AgroViet 2018 aims to create an opportunity for all enterprises to promote their business activities and expand international cooperation between businesses and consumers. With the theme “High-Tech Farm Produce Towards Sustainable Agricultural Development”, the fair will introduce and honor high-quality Vietnamese products in agriculture, forestry, fisheries, and handicrafts as well as new technological advances in agricultural production. It is also expected to help in creating safe agricultural products for export and domestic consumption, leading to increased product value and developing the agricultural sector towards the use of advanced technologies and international integration. The fair will feature about 180 booths from some 180 local and international enterprises, showcasing equipment and machinery in agricultural production and processing, veterinary drugs, pesticides, safe agricultural and aquatic products, and animal and plant varieties. This year’s fair will also see the participation of 18 Thai businesses. Seminars introducing agricultural eco-tourism products in Da Nang city will also be held. AgroViet is one of MARD’s biggest annual trade promotion activities for the agricultural sector. This year’s fair will take place at the Da Nang Fair and Exhibition Centre, 9 Cach Mang Thang Tam Street, Cam Le district. AgroViet 2017 was held in Ho Chi Minh City and attracted the participation of 200 booths from over 100 local and international enterprises. Merino Wool Awareness Day held in Hanoi The Woolmark Company from Australia organized Merino Wool Awareness Day in Hanoi on June 22, with more than a hundred participants including international and local experts, experienced designers, suppliers, and manufacturers in the textile and garment industry. The event highlighted the benefits of Merino wool and provided guidance on how to access and process the fiber in innovative ways, and also gave domestic companies an opportunity to showcase their wool products and link with more than 80 supply chain brands in Vietnam. Executives from The Woolmark Company provided a comprehensive overview of the company, its world-renowned International Woolmark Prize, the benefits of Australian Merino wool, and innovations using the fiber. Participants also had a unique opportunity to hear from experienced experts from leading brands in Vietnam and around the world, such as Canifa, Ivy Moda, Ffixxed Studios, Designer Textile International (DTI), and Appeal Korea. “We launched the ‘Out of Vietnam’ project in June 2012 to develop new manufacturing supply chains for wool products and we have now established collaborations with more than 80 partners in the country,” said Mr. John Roberts, General Manager Eastern Hemisphere of The Woolmark Company. “Our heritage in wool research and development together with Vietnam’s solid background in the textile industry make a perfect combination that promises high quality and sustainable ‘Grown in Australia - Made in Vietnam’ wool products, as well as a strengthening partnership between the two economies.” Having established a foothold in Vietnam for more than five years, The Woolmark Company considers it a valuable market of substantial potential thanks to its political and social stability, established textile manufacturing infrastructure, abundance of skilled and low-cost labor, reliable water and electricity supply, and the accessibility it offers to numerous FTAs and cross-borders partnerships. Australian Merino wool is a remarkable result of years of evolution. Its benefits include breathability, temperature regulation, softness and fineness, odor resistance, elasticity, UV protection, fire resistance, and versatility of use. Recently published research even shows the therapeutic power of superfine Merino wool for those suffering from eczema. The Woolmark Company is the global authority on wool and highlights Australian wool’s position as the ultimate natural fiber and premier material in luxury apparel. The Woolmark logo is one of the world’s most recognized and respected brands, providing assurance of the highest quality and representing pioneering excellence and innovation from farm through to finished product. The textile and garment industry has long been Vietnam’s key economic sector. The industry employs more than 2.7 million people in the country, equivalent to 25 per cent of the industrial workforce, and is the second-largest export earner in the manufacturing sector. Accounting for 17 per cent of world apparel exports in 2017, Vietnam’s textile exports have steadily grown and reached $31.1 billion in 2017 from a modest $1.35 billion in 1998, putting the country among the world’s Top 5 textile exporters. Given the harsh competition in the global market, however, it is essential for Vietnamese businesses to develop specific strategies to enhance competitiveness and generate breakthroughs. Simultaneously, businesses also need to leverage effective flows of foreign investment while actively participating in supply chains to reduce costs and optimize domestic performance. Citi Foundation supporting innovation and startups The UNDP, the Citi Foundation, and the Ministry of Science and Technology (MoST) have become co-leads in delivering Youth Co: Lab Vietnam 2018. Following its launch in Hanoi on June 15, the Youth Co: Lab Diagnostic workshop moved to Ho Chi Minh City’s Saigon Innovation Hub on June 22 to bring all major players in the impact startup ecosystem together and plot a course to foster the growth of the sector and connect startups to the business of achieving the UN Sustainable Development Goals (SDGs). “The UNDP will open applications for the SDG Innovations Incubator and selected teams will receive an intensive business incubation and impact acceleration program as well as the opportunity to pitch their ideas to national and international investors,” Ms. Akiko Fujii, the UNDP’s Deputy Country Director in Vietnam, said in her opening remarks. “Entrepreneurship aspirations don’t just come to life on their own,” said Citi Vietnam’s Head of Public Affairs Mr. Bui Quang Huy in speaking about the Citi Foundation’s commitment to young people. “Young people say they need a few things, including the right skills for the right jobs and the right policies in place, and they would like mentoring and guidance along the way. That is why the Citi Foundation has committed to invest $100 million to support 500,000 young people to become career-ready and employable by 2020.” Citi is mobilizing 10,000 of its employees as volunteer mentors and coaches to provide professional advice to help young people towards their career goals. Citi calls this the “Pathways to Progress” initiative and Youth Co: Lab is part of this global initiative to foster an ecosystem that will enable social and economic pathways for young people to succeed in the cities. Events in both Hanoi and Ho Chi Minh City brought together experts from the private sector, the government, NGOs, investment firms, social entrepreneurs, startup incubators, and guests from Thailand and Malaysia to develop a set of recommendations for all sectors to help build social impact startups in Vietnam to address some of the biggest challenges the country faces. The program also includes a series of exciting activities to train and mentor young Vietnamese. Up to 130 young people from across the country will be trained in design thinking, 21st century skills, social innovation, and SDG entrepreneurship, in Hanoi and Ho Chi Minh City later this month. The Youth Co: Lab program strongly focuses on “leaving no one behind”. One-third of participants are young people from rural and mountainous areas, people with disabilities, the deaf and hearing-impaired, LGBTI people, ethnic minorities, and people living with HIV. Vietnam has seen huge growth in startups in recent years, with 3,000 registered in 2017. Despite this growth, the social impact startup ecosystem lags behind other leaders in the region in terms of a coordinated national approach, such as in Thailand, Singapore and Malaysia. Xuan Cau teams up with B.Grimm in $400mn solar project Thailand’s leading industrial conglomerate, B.Grimm, will work with Vietnamese construction company the Xuan Cau Co. Ltd to develop two solar power plants in Vietnam, the largest in Southeast Asia and costing $400 million. Dr. Harald Link, Chairman of B.Grimm Power PCL., Ms. Preeyanart Soontornwata, President of B.Grimm Power PCL., Mr. To Dung, Chairman of Xuan Cau Co. Ltd, and Mr. Dao Trong Khanh, CEO of Xuan Cau Co. Ltd, signed a Development Cooperation Agreement for the 420 MW facility in southern Tay Ninh province. The signing ceremony was witnessed by Prime Minister Nguyen Xuan Phuc and Thai Prime Minister General Prayut Chan-ocha on the sidelines of the eighth Ayeyawady-Chao Phraya-Mekong Economic Cooperation Strategy Summit (ACMECS 8) in Bangkok on June 15. Construction of the two solar power plants, Dau Tieng 1 and Dau Tieng 2, with total investment of VND9.1 trillion ($400 million) and a capacity of 420 MW will begin in the province’s Duong Minh Chau and Tan Chau districts on June 23, with commercial operations to get underway in June next year. The two plants are part of the first phase of Xuan Cau’s solar power complex project, which has received government approval and is included in the master plan for developing the national power network in the 2011-2020 period. The plants will provide a significant source of clean power to the south and create jobs for local residents, in line with the provincial government’s socioeconomic plan. Xuan Cau operates in a diverse range of business fields, such as real estate, trade and services, energy, and infrastructure. B.Grimm, which started out in Thailand’s pharmaceutical business in 1878, is now a diversified corporation with interests in energy, buildings and industrial systems, healthcare, lifestyle, transport, and real estate. In 1993 it pioneered Thailand’s emerging private power generation industry with B.Grimm Power. B.Grimm Power’s total installed capacity is currently 1,646 MW. With new projects already under development, its capacity will rise to 2,518 MW by 2022. Its target is to reach 5,000 MW across the ASEAN region by 2022. The company utilizes a variety of energy sources, including natural gas, solar, and hydroelectric. It has already obtained new licenses for wind farms and is pursuing other opportunities both domestically and abroad. CSR activities create positive profile Consumer satisfaction has long been the best evidence of how much manufacturers or retailers focus on the requirements of increasingly demanding customers in the context of a fiercely competitive business environment. Customers looking to buy a new motor vehicle, for example, thoroughly compare makes and models, dealerships, and promotional offers and aren’t afraid to negotiate before deciding on their purchase, according to market researcher J.D. Power’s 2017 Vietnam Sales Satisfaction Index (SSI). The study found that Toyota Motor Vietnam (TMV) again ranked highest in overall sales satisfaction for the third consecutive year. This stems from its unceasing efforts to renovate its service and sales activities under a humane business strategy, as part of TMV’s three key pillars: realizing a powerful automobile society, contributing to the country’s auto industry development, and providing assistance to the community and society. Corporate social responsibility (CSR) activities are an inseparable part of the comprehensive business strategies adopted by many foreign-invested enterprises (FIEs) in Vietnam. “Being a good member of the local community” has always been among TMV’s most important objectives since its foundation, and its total community contributions now exceed $24 million. It organizes a host of community activities every year, in fields such as the environment, traffic safety, education, human resources development, and culture, including the Toyota Safety Education Program (TSEP), painting contests, Green Journey, Toyota Concert, the Toyota Classical Music Show, and other programs. With its annual Toyota Classical Music Show, it expresses its efforts to enhance spiritual lives in the community as well as cultural development. Late last year it granted individual scholarships of $264 each to outstanding students in five music training schools in Vietnam, for a total of $22,440. The scholarship program has been implemented since 2009 to encourage a spirit of study among young musical talent and to contribute to the development of musicians and musical culture in the country. Given that the world relies on agriculture and livestock farming, as a global company operating in the animal nutrition field, De Heus views sustainable development as an ambition in ceaselessly contributing to the food chain and ensuring food security. The company’s CSR policies encompasses the economy, the community, and the environment as three crucial factors in development, and has driven its business and operations in a responsible manner in terms of food safety, raw material purchases, and energy-saving means of transport. “We are also well aware of the fact that we exist thanks to the society we are a part of,” said Mr. Gabor Fluit, Business Group Director of De Heus Asia. “We therefore feel a responsibility to do something in return. We contribute to sustainable living and an entrepreneurial climate for the generations that come after us by investing in local agriculture and social projects that encourage stakeholders, business partners, and even farmers to produce in harmony with the environment.” The company also developed and carried out education (its Green Seed project receives investment of $30,000 per year) and healthcare projects and has financially committed to a ten-year eye care project in the Mekong Delta’s Vinh Long province, called Powering Progress with Eye Care, costing $323,000 and contributing to the development of high-quality, sustainable and accessible eye care. Its CSR policies are generally associated with its business activities. For instance, the company aims to limit any harm done to human health and the environment during production. It selects raw materials that are able to provide maximum feed conversion with minimum input amounts, to minimize its environmental footprint, and makes use of by-products from other food producing processes to combat waste. “We make efforts to ensure that the transport of our raw materials and finished products are as efficient as possible and also meet strict safety and environmental requirements,” Mr. Fluit added. “In this way we are able to cut transport movements and our carbon dioxide footprint.” CSR activities, he went on, have brought De Heus several internal benefits in terms of cost-savings, greater productivity and quality, and an enhanced brand image and reputation, among others. Its efforts have resulted in positive changes in society, of which its employees feel proud and which strengthens their engagement with the company. With the same vision towards sustainable development, both for business and for the community, FrieslandCampina Vietnam has been pioneering meaningful CSR programs. One, the Den Dom Dom (DDD) program, has successfully promoted the Dutch Lady brand name in Vietnam. Initiated in 2002 to prevent poor children from dropping out of school, DDD has supported the construction of new schools in rural areas to provide a better learning and teaching environment for both students and teachers. More than $1.3 million has been spent on building 21 schools nationwide and granting 25,000 scholarships to needy school children in rural areas. Inspired by the need to work towards improving the nutritional status of children in the region, FrieslandCampina also initiated the Drink, Move, Be Strong (DMBS) campaign, which aims to bridge critical nutrition gaps identified by the Southeast Asian Nutrition Survey (SEANUTS). Under the DMBS campaign, in 2017 FrieslandCampina cooperated with the Vietnam Red Cross to conduct the “Nutritional Education and Vietnamese Kids’ Development” program, which successfully reached more than 65,000 kindergarten and primary school students and 250,000 households. The program has been extended this year. Also active in CSR activities, one of the leading life insurance companies in the country, AIA Vietnam, determined that it has a responsibility to help the local community live longer and healthier lives in the context of increasing life expectancy. It spent some $400,000 on community activities last year, helping tens of thousands of disadvantaged children around the country. This year it expects to donate some $440,000 to community support and social development activities, such as bicycle donations within the “Real Life Journey” program, awarding insurance policies and scholarships and sponsoring sports and healthcare activities. Mr. Wayne Besant, CEO of AIA Vietnam, told VET that the focus of the company’s CSR activities is its “Real Life Journey” program. Successfully conducted for more than four years, this year it enters its fifth year with over 8,000 bicycles donated or to be donated to disadvantaged children in cities and provinces nationwide, giving them an opportunity to change their lives. Successful CSR programs not only help companies from a business perspective but can also help them resolve strategic and core issues relating to business and social issues. “Long-term CSR is not just about making the company satisfied and not just about regular public relations (PR), charity, or sponsorship programs,” Ms. Pamela Phua, General Manager of AkzoNobel Vietnam, told VET. “CSR requires high concentration, continuous operations, and long-term commitment to the interests of the company and to the benefits to society in the context of global integration.” CSR is challenging, she said, because it requires thoughtful planning, the building of trust, and the implementation of the company’s internal and external community activities. Companies like AkzoNobel Vietnam recognize that the implementation of CSR activities requires a long-term commitment, which is easier said than done. “Such activities can require a degree of patience that is sometimes challenging,” Mr. Fluit from De Heus Asia said. “Even though awareness about CSR is growing, it is still not widely recognized in Vietnam. Some small and medium-sized enterprises (SMEs) have yet to comprehend the long-term benefits of CSR strategies and prefer to focus more on delivering the best possible economic outcomes.” For many European multi-nationals, the major challenge when implementing CSR is following their group’s guidelines and adapting their strategy to Vietnam’s business environment and integrating it into a multicultural organization, according to Ms. Clemence Aron, CSR Project Manager at the French Chamber of Commerce and Industry in Vietnam (CCIFV). The main issue in the implementation of CSR strategies in Vietnam is how businesses perceive them. There are some that consider such programs to be a major involvement that can be time consuming, and some CSR approaches are isolated activities and not long-term strategic plans. The fact that Vietnam is a growing economy is also a reason why CSR is still in its early stages of development in the country. There is a lack of experience among managers in the task and management capacity to develop such programs and the expertise required remain limited. Vietnam has relied on regulations and legislation in the past to deliver social and environmental objectives in business. Limited government resources, coupled with distrust over the enforcement of regulations and legislation, has led to voluntary and non-regulatory initiatives instead, according to Mr. John Rockhold, Managing Director of Amcham Vietnam in Ho Chi Minh City. As such, there is little or no knowledge of CSR in local communities and they need to be educated so they feel confident about the aims of such programs. Heineken Vietnam sees success in sustainable development Heineken Vietnam released its 2017 Sustainability Report on June 20, noting that it continues to lead the way in sustainable development and highlighting its impressive accomplishments last year. This is the fourth consecutive year it has published a Global Reporting Initiative (GRI)-accredited Sustainability Report for Vietnam. 2017 also saw Heineken Vietnam named the Most Sustainable Manufacturing Company in Vietnam by the Vietnam Chamber of Commerce and Industry (VCCI) in its annual CSI 100 awards. For Heineken Vietnam, “green” is more than the signature color of its globally-popular brand; it is a deliberate choice made by the company on a global level as well as in Vietnam to act sustainably. Choosing green means committing to sustainable operations, an approach that Heineken has taken on and also inspired others to follow for more than 27 years in Vietnam. “The choices we make define who we are,” said Mr. Leo Evers, Managing Director of Heineken Vietnam. “For Heineken Vietnam, sustainability is our choice. We choose green by taking care of our people and the planet to sustain prosperity for a better Vietnam.” “With a corporate strategy entrenched in the triple bottom line approach, the company has continued to integrate sustainability into our core business to set new benchmarks in sustainable development through continuous improvements, rigorous assessment, and the communication of our progress. Going forward, we believe there is so much more to be done. We will continue to work with our stakeholders to implement suitable strategies, so that together we can brew an even better Vietnam.” Heineken Vietnam’s sustainability strategy continues to focus on six key areas where the company believes it can have the greatest impact in Vietnam: advocating responsible consumption; promoting health and safety; protecting water resources; reducing CO2 emissions; growing with communities; and sourcing sustainably. In 2017, 100 per cent of Heineken Vietnam’s wastewater was treated so that it could be safely reused for other purposes such as landscaping. Its breweries are the most water-efficient of all Heineken’s companies in the Asia-Pacific region. The brewer also played a leading role in applying a circular economy into its operations. In 2017, it sourced approximately 54,000 tons of rice husk and woodchips from farmers to generate thermal energy. This initiative allowed four of its six breweries to brew 100 per cent with carbon neutral renewable energy and at the same time provided substantial incomes to Vietnamese farmers as well as supported the development of the country’s biomass energy industry. Heineken Vietnam also continued to find new uses for its own waste. In 2017, it sent virtually zero waste to landfill, with 99.01 per cent of its inputs being re-used or recycled, with only some 1 per cent lost or sent to landfill. It contributed $1.85 billion to Vietnam’s economy last year, equivalent to 0.88 per cent of the country’s total GDP, compared to 0.75 per cent in 2016. A total of over 158,000 jobs were supported throughout its value chain across Vietnam. The company continued to prioritize and maximize local sourcing whenever possible with its partners in Vietnam. Forum promotes sustainable economic and tourism development More than 200 delegates gathered in Quang Ninh province’s Ha Long city on June 23-24 for the "Sustainable Economic and Tourism Development 2018" forum, during which they discussed the reality facing and solutions for green economic and tourism development in the new period, while debating the policies needed to develop tourism and the economy in a sustainable manner. Japan's green tourism experience for Vietnam was also high on the agenda at the forum, in addition to the directions for the sustainable development of green tourism, the financial support policies to help small and medium-sized enterprises (SMEs) to modernise production technologies to be green and sustainable, and the role played by investors and businesses in developing sustainable green tourism. The delegates also touched on the reasonable use of natural resources, the limitation of waste from tourism activities, and the application of eco-friendly technology in developing tourism products, while stressing the need to develop eco-tourism types and tabling effective measures aiming to promote growth and develop green economic and tourism development in the globalisation trend. Within the framework of the forum, the organising committee honoured the collectives and individuals who have made outstanding achievements in economic-tourism development in 2018, including the pioneering companies in innovation and global integration. Participants were also offered a field trip to a number of green economic-tourism sites in Quang Ninh province. Through the aforementioned activities, the forum showcased Vietnam as a beautiful, dynamic and hospitable country which is a friendly and attractive destination to both domestic and international friends, contributing to attracting investment resources in tourism development and promoting linkages in tourism development between Vietnamese localities and countries around the world. The forum also worked to widely disseminate the green economy and tourism development strategy and the Resolution No. 80/NQ-TW of the Party Central Committee on developing tourism into a spearhead economic sector, to the public. Vietnamese firms updated on trade protection regulations in US Updated information on legal trends and trade protection in the US as well as recommendations for Vietnamese enterprises were given to businesses at a conference held by the Vietnam Chamber of Commerce and Industry (VCCI) and the Ministry of Industry and Trade in Hanoi on June 25. Nguyen Thi Thu Trang, Director of the VCCI’s Centre for WTO and Integration said global trade has seen signs of complicated trade protection, especially in big markets. The US is an important market of Vietnam, but it also a market that accounts for 22 percent of total anti-dumping and anti-subsidy lawsuits against Vietnam, noted Trang. She held that over the years, the situation in the US regarding trade protection has changed significantly, affecting Vietnam’s exports to the market. Currently, Vietnam is facing 17 anti-dumping lawsuits, mostly related to industrial, garment and metal products, she said, adding that she hopes the conference will help Vietnamese firms update latest information of legal regulations in the US. Daniel Calhoun, Chief Counsel for Trade Enforcement and Compliance at the US Department of Commerce, said WTO agreements on anti-dumping, anti-subsidy and trade defence are unchanged despite efforts to adjust some regulations related to the agreements. Trang pointed out that anti-dumping lawsuits normally have a short duration, while technical requirements are complicated and Vietnamese firms are not ready for lawsuits abroad and lack legal support, so early preparation is crucial. Domestic enterprises should raise their awareness and knowledge of the procedures of lawsuits and their export market, while regularly coordinating with their import partners to keep track of changes in regulations. Can Tho’s agriculture production reports high growth in first half Agro-forestry-aquaculture production value of the Mekong Delta city of Can Tho in the first six months of 2018 exceeded 2.4 trillion VND (nearly 105.5 million USD), representing a year-on-year increase of 8.17-percent. In the period, the total area of rice cultivation reached 166,426 hectares, equivalent to 76 percent of the year’s plan. Of which, 97,987 hectares were harvested with total yield of 693,762 tonnes or 52.6 percent of the set plan. The area of vegetables and other short-term crops reached 9,512 hectares, while the area of fruits was 17,910 hectares, equivalent to 60 percent and up 4.43 percent against the set plan, respectively. Meanwhile, the aquaculture area was estimated at more than 3,300 hectares, including 1,588 hectares harvested with total output of 95,456 tonnes. Of which, Tra fish cultivation area reached 568 hectares, 75.69 percent of the plan for the year. According to Nguyen Ngoc Hoe, Director of the municipal Department of Agriculture and Rural Development, most agriculture production indicators increased in the period, improving the living standard of locals. Although the aquaculture area remained low, it is forecast to rise strongly between July and October, he noted. Notably, the agriculture production also recorded high prices for most key local products such as Tra fish, fruit, cattle and poultry. Chairman of the municipal People’s Committee Vo Thanh Thong said agriculture production value has significantly contributed to increasing Can Tho’s export turnover, boosting the city’s socio-economic development. FDI enterprises urged to step up technology transfer Experts at a conference in Hanoi on June 25 stressed the need for measures to increase the efficiency of technology transfer of FDI businesses in Vietnam. Speaking at the event, Deputy Minister of Planning and Investment Nguyen The Phuong said that after 30 years Vietnam opening its door to foreign investors, the FDI sector has become an important part of the country’s economy. In the first half of 2018, foreign investors pour capital into 1,362 new projects, and 507 existing projects and contribute capital to buy shares of Vietnamese businesses in 2,748 projects, with a combined capital of over 20 billion USD. Foreign investments account for 25 percent of the country’s total investments and contribute 20 percent of GDP. Last year, the sector contributed nearly 8 billion USD to the State budget, making up 14.4 percent of total revenue. At present, 58 percent of foreign investments focus on processing and manufacturing, generating 50 percent of industrial production value. Along with creating jobs and increasing the quality of human resources, FDI enterprises have helped transfer advanced technologies to domestic ones. However, the transfer work has yet to meet expectations, Phuong stated, adding that foreign-invested enterprises do not create a close linkage with Vietnamese ones yet to participate in the value chain together. Deputy Director of the Central Institute for Economic Management (CIEM) Nguyen Thi Tue Anh said that pervasive influence from FDI businesses’ technology transfer remains weak, as few Vietnamese businesses gain access to their supply chains. Therefore, she emphasised the need to create an equally competitive environment so that FDI and domestic enterprises can compete healthily and coordinate in production. Meanwhile, Nguyen Huu Xuyen from the National Institute for Patent and Technology Exploitation, stressed the necessity to soon complete a legal framework to make the National Technology Innovation Fund operate effectively. The fund must operate as a financial organisation and does not hamper businesses’ approach to preferential credit for technology reception, transfer and innovation, he added. Israel supports development of Vietnamese start-ups: Ambassador The Israeli Government has devised policies and provided consultancy to support the development of Vietnamese start-ups, said Israeli Ambassador to Vietnam Nadav Eshcar. Eshcar made the statement during an international scientific seminar which was co-organised in Hanoi on June 25 by the Ho Chi Minh National Academy of Politics and the Israeli Embassy in Vietnam. The seminar, entitled “25th years of Vietnam-Israel diplomatic relations: Sharing Innovation Ideas and Experience for Joint Development”, saw the participation of 200 delegates from relevant ministries, universities and research institutes. Speaking at the event, Assoc. Prof. Dr. Le Quoc Ly, Vice President of the HCM National Academy of Politics, affirmed that the seminar aimed to help tighten Vietnam-Israel ties and scientific research cooperation between the academy and Israeli partners in particular. He also voiced his hope that scholars of the two nations will continue to conduct joint research and share experience for development in the future. For his part, Eshcar stressed that Israel has sent start-up experts to work with businesses and young start-ups in Hanoi, Ho Chi Minh City and Da Nang to share Israel’s experience in this field. In addition, some delegations of start-ups from Vietnam paid fact-finding visits to Israel, he noted. At the seminar, participants discussed and shared start-up experience and recent innovation ideas, as well as directions for bilateral cooperation in the coming time. Trade fair to display best products of Vietnam, Laos More than 120 businesses and units of Vietnam and Laos will showcase their best products at the Vietnam-Laos Trade Fair 2018 in the Lao capital city of Vientiane from June 28 to July 2. The information was released at a press conference held by the countries’ ministries of industry and trade and the ministries of denfence in Vientiane on June 25. The fair, themed “Cooperation, friendship and development”, will take place at the Lao International Trade Exhibition and Convention Centre (Lao-ITECC) in Vientiane. It will feature over 200 booths covering a total area of 6,000 square metres. Vietnamese firms are set to introduce their high-quality and typical products such as textiles-garment, leather and footwear, agro-forestry-aquatic products, handicrafts, processed food, electrical and electronic equipment, mechanical and chemical products, construction materials, fertilisers, and animal food. Additionally, an exhibition area at the event will display photos on the two countries’ traditional friendship and economic activities of the Vietnam People’s Army. As part of the trade fair, participating businesses will visit Luang Prabang province of Laos and Udon Thani province of Thailand to survey the local markets. Meanwhile, the Department of Trade Promotion under the Lao Ministry of Industry and Commerce and the Vientiane and Hanoi associations of women entrepreneurs will hold a business-to-business meeting to help Vietnamese and Lao companies to boost trade, investment and business partnerships. The organising board and enterprises will also present aid to disadvantaged families and schools in Laos. The Vietnam-Laos Trade Fair 2018, part of Vietnam’s national trade promotion programme, is an important economic, political and social activity aiming to strengthen the time-tested and special solidarity and friendship between the people and armies of the two nations. It also looks to create a platform for enterprises to increase trade, investment and business cooperation, thus helping Vietnamese firms to promote exports to Laos and other ASEAN markets. VnFinance in France holds finance-banking workshop The association of Vietnamese people working in finance in France (VnFinance) has recently held an international workshop, attracting a large number of Vietnamese and French experts who are interested in finance and banking. Participants presented hot financial topics along with the development and application of new technology in the field. VnFinance highlighted major issues and orientations in global finance and economy at the beginning of the workshop along with the impacts of trade protectionism and commercial war on the world’s economy and emerging markets, including Vietnam. Nguyen Gia Khanh, head of risk research at BNP Paribas, mentioned possible risks and opportunities for emerging markets. He noted some countries have poured significant investments into various fields, including real estate, in recent years, and the investment trend is likely to increase in the time to come. There will be a change in the global banking system with new technologies, he said. Thus, countries will have tremendous opportunities to develop or even surpass developed nations. Fintech is a new topic presented by Dao Tung Lam, head of fund management at CFM Group. Financial technology (Fintech) is the new technology and innovation that aims to compete with traditional financial methods in the delivery of financial services. The recent developments have opened up more opportunities for this new technology to strengthen and improve its administration system. The integrated machine and artificial intelligence systems also support investment strategies through the diversification of input data, detection and mitigation of risks, Lam said. Blockchain is also one of the potential technologies to improve and develop the financial system at present, he added. Other topics presented at the workshop were the technical application of banking data for digital marketing and advertising as well as other new cutting-edge technologies. VNN |
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Deputy PM discusses trade, investment ties with US officialsWashington D.C. -Deputy Prime Minister Vuong Dinh Hue had a meeting with US Secretary of Commerce Wilbur Ross and Trade Representative Robert Lighthizer on June 26 as part of his ongoing visit to the US.  Deputy Prime Minister Vuong Dinh Hue (R) shakes hands with US Secretary of Commerce Wilbur Ross (Photo: VNA) During the meeting, Deputy PM Hue stressed that the economic, trade and investment cooperation is the focus and a driving force of the Vietnam-US relationship, affirming that Vietnam wishes to promote free trade while actively implementing agreements between the two countries and settling existing problems. He urged the US to deal with matters of Vietnam’s concern such as the recognition of Vietnam’s market economy, anti-dumping and anti-subsidy lawsuits against Vietnamese products such as shrimp, washing machines, solar panels and woven sacks, as well as the exemption of tariff on Vietnam’s steel and aluminum products. The US officials said that US President Donald Trump appreciated Deputy PM Hue’s visit and the US recognized that Vietnam had understood the US’s concern and taken specific measures to bolster trade ties between the two countries. They held that there is big potential and good prospect for collaboration between the two countries, expressing hope that the Government of Vietnam will continue creating favourable and fair conditions for US enterprises in accessing the Vietnamese market. They also pledged to push for discussions of Deputy PM Hue’s proposals in relevant agencies of the US. The same day, at a meeting with Ambassador Charlene Barshefsky, a former US Trade Representative who signed the Vietnam-US Bilateral Trade Agreement in 2000, Deputy PM Hue lauded important contributions that Barshefsky has made to the progress of bilateral ties. He briefed the host on the Vietnam-US relations recently, saying that his visit aims to realise agreements reached by leaders of the two countries over the past years. He proposed that Barshefsky will continue supporting cooperation for development between the two countries, especially in economy, trade and investment, thus strengthening the Vietnam-US comprehensive partnership. For her part, Barshefsky showed her delight at the development of the Vietnam-US partnership, especially in economy, trade and investment. She said that Vietnam is one of the important partners of the US in Southeast Asia, adding that she believes that the US Government hopes to further develop the friendly cooperation with Vietnam. She also hailed Vietnam’s efforts to collaborate with the new administration of the US, focusing on dialogues on issues of shared concern, thus facilitating the partnership between business communities of the two countries. Earlier on June 25, the Vietnamese Deputy PM attended a round-table held by the US Chamber of Commerce gathering nearly 50 leading US firms. Addressing the event, Deputy PM Hue welcomed US enterprises to invest in Vietnam, affirming that the Vietnamese Government has improved its business and investment environment to create favourable and fair conditions for all foreign investors, including those from the US. He lauded US businesses’ operation in Vietnam which has helped create jobs and promote high quality “made-in-Vietnam” products. He called for more US investment in Vietnam, especially in areas of high-technology, energy, infrastructure, smart city, education and training, finance-banking, health care, service, innovative startup, and in the equitisation of State-owned enterprises. At the event, Myron Brilliant, Executive Vice President of the US Chamber of Commerce and Davia Managing Director and Global Head of External Affairs of Carlyle Group thanked the Government of Vietnam for supporting US businesses in operating in Vietnam. They also committed to continue engaging in social activities in Vietnam. Also on June 25, Deputy PM Hue also delivered a speech at a conference on investment potential and opportunities in Vietnam held by FLC Group with the participation of hundreds of Vietnamese and US enterprises, investment funds, financial organisations and financial management companies. He congratulated the FLC Group on its signing of a contract to buy 20 Boeing 787-9 Dreamliners worth 5.6 billion USD. VNA |
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Floods kill 21, cause over $19mn in damage in northern Vietnam Houses and farms have been destroyed by disaster in the past days  Residents struggle to travel around due to mudslides in the northern Vietnamese province of Lai Chau on June 26, 2018. Photo: Tuoi Tre Twenty-one people have been confirmed dead by floods in the mountainous northern provinces of Lai Chau and Ha Giang as of Wednesday afternoon, while financial damage caused by the disasters has been estimated at a whopping VND450 billion (US$19.8 million). Among the deceased victims, 16 were in Lai Chau Province and the other five lived in Ha Giang. About nine victims have remained unaccounted for in Lai Chau since torrential rain hit the region on Saturday night, bringing about flash floods and landslides. As of Tuesday night, about 124 houses have collapsed and been swept away by floods, while 597 others were seriously damaged, requiring prompt evacuation. Nearly 1,500 homes are still submerged under water. Some 717 hectares of paddy filed and 486 hectares of crops were inundated, and approximately 46 hectares of aquaculture farms were also damaged. 
More than 195 cattle and 5,900 poultry were killed. Financial damage in the two provinces has been estimated at a total of VND450 billion ($19.8 million), according to Lai Chau and Ha Giang’s steering committees for disaster prevention. Multiple national and provincial highway sections are still blocked by mudslides. Deputy Prime Minister Trinh Dinh Dung paid a visit to Tam Duong District, Lai Chau Province on Tuesday morning to directly evaluate the situation. Dung called on local authorities to continue their efforts to deal with the consequences and prioritize the search for missing victims. 
Residents in dangerous areas must be evacuated in a prompt manner, he added. The National Center for Hydro-meteorological Forecasting has predicted that downpours will linger until the end of Wednesday, before a heat wave starts affecting northern and central Vietnam on Thursday, causing temperature to surge. Professor Nguyen Ngoc Lung, head of the Research Institute for Sustainable Forest Management and Forest Certification (SFMI), attributed the severity of floods in Lai Chau and Ha Giang to the loss of natural forests. Many provinces in mountainous areas of northern Vietnam previously cleared natural forest to make way for rubber tree plantation, which worsened the situation, Lung elaborated. Tuoi Tre News |
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Deputy PM updates US firms on Vietnam’s economic policiesWashington D.C. -Deputy Prime Minister Vuong Dinh Hue met with US enterprises during his visit to the US from June 25-27 to introduce Vietnam’s external and macro-economic policies, economic reform and investment attraction mechanisms. 
An overview of Deputy Prime Minister Vuong Dinh Hue and leaders of the US-ASEAN Business Council (USABC) (Photo: VNA) Addressing a talk held by the American Enterprise Institute (AEI) on June 26, the Deputy PM said that Vietnam and the US have shared interests in a peaceful, stable and prosperous environment in the region where maritime and aviation freedom, security and safety are respected. This is an important condition for regional cooperation and development, he stressed. Scholars from the AEI lauded the vision and external, economic and integration policies of Vietnam, while expressing hope that the Vietnam-US comprehensive partnership will continue to be fostered amidst a changing world. They also showed their desire to expand ties with Vietnamese officials, scholars and researchers. At a business seminar held by the US-Asia Institute and VinaCapital in Washington D.C. the same day, Deputy PM Hue noted that the Vietnamese economy grew 7.38 percent in the first quarter of 2018, a 10-year high. He affirmed Vietnam’s commitment to create a business environment meeting standards of the Organisation for Economic Cooperation and Development (OECD), and answered questions on cooperation and business opportunities in Vietnam. The US enterprises praised the Vietnamese Government’s commitments, lauding the country’s policies to lure investment in infrastructure, energy, pharmaceuticals, e-commerce, service, State-owned enterprises’ restructuring and startups. On June 27, Deputy PM Hue met with leaders of the US-ASEAN Business Council (USABC), during which he highlighted that leaders of the US’s Congress, National Security Agency, Departments of States, Finance, Commerce and Agriculture all affirmed that the US is keen on boosting relations with Vietnam, especially in economy, trade and investment. This is an assurance for businesses of both sides in the long-term, he added. The Deputy PM reiterated that the Vietnamese Government is willing to listen to enterprises to improve the country’s business environment and ensure fair conditions for businesses. He also answered questions from US firms on various fields, especially the newly-adopted Law on Cyber Security, the payment activities of banks, regulations on automobile import and granting licences in agricultural areas. Vietnam always abides by international rules, while giving optimal conditions for businesses as long as they ensure consumers’ interests and Vietnam’s national security, stated the Deputy PM. The same day, he met with some US leading firms investing in Vietnam, including Nike, Coca-Cola, Visa, Exxon Mobil, Murphy Oil and AES. The US firms thanked Vietnam for supporting them over the years, highlighting that Vietnam is a dynamic market with high potential. They expressed their wishes to expand their activities in Vietnam. VNA |
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Government News 28/6 Congratulations to CPP on founding anniversary  The Central Committee of the Communist Party of Vietnam (CPV) has sent a message of congratulations to the Central Committee of the Cambodian People’s Party (CPP) on its 67th founding anniversary (June 28). The CPV and Vietnamese people congratulate the CPP and Cambodian people on scoring major and important achievements in diverse areas over the past years, the message wrote. The CPV and Vietnamese people believed that under the leadership of the CPP, Cambodia will certainly obtain new, greater achievements in the cause of national construction and development, it said. The message wrote that the CPV, State and people of Vietnam pledge to work closely with the CPP, Government and people of Cambodia to preserve, safeguard and incessantly foster their fine neighborliness, traditional friendship, comprehensive and sustainable cooperation to a new height, for the sake of prosperity and well-being of each country’s people, and for peace, stability, cooperation and development in the region and the world. Vietnam determined to fulfill 2030 Agenda: Deputy PM
 Prime Minister Vu Duc Dam. The Government of Vietnam is determined to fulfill the 2030 Agenda for Sustainable Development, Deputy Prime Minister Vu Duc Dam told Administrator of the United Nations Development Programme (UNDP) Achim Steiner on June 27. Dam hosted a reception for Steiner when the UNDP official has been on a visit to Vietnam to attend the 6th Global Environment Facility Assembly (GEF-6) held in Da Nang on June 27 and 28. Dam and Steiner exchanged views on the current major priorities of Vietnam, the UNDP and the UN in general. The two officials agreed on the need to further deepen the cooperation between Vietnam and the UNDP and to focus all necessary resources to effectively implement the 2030 Agenda. The Deputy PM updated his guest on the National Action Plan on the Implementation of the 2030 Agenda for Sustainable Development which was adopted by the Government of Vietnam last year, featuring 115 specific goals. He also mentioned Vietnam’s efforts to boost economic growth in tandem with the advancement of social equality and environmental protection. Dam discussed with the UNDP administrator about challenges faced by Vietnam in coping with climate change, ensuring sustainable development and narrowing the development gap among residential communities, expecting that the UN and the UNDP will continue backing and cooperating with Vietnam in the era of Industry 4.0. Steiner, for his part, congratulated Vietnam on the impressive socio-economic development and lauded it as a leading nation in implementing the One UN Programme. Steine said he wants Vietnam to continue supporting the UN’s reform process. The offcial affirmed that the UNDP looks forward to closer partnership with Vietnam in the time ahead with the focus on policy management consultation, strategy building and leadership skills. In addition, he suggested that the two sides should look into the possibility of cooperating in making policies on insurance, including environmental insurance, health insurance and climate change insurance. In the era of Industry 4.0 and automation, governments needs to develop smart policies and human resources and encourage the participation of the private sector, particularly small and medium-sized enterprises, Steiner added.-VNA PM urges Fukuoka prefecture to foster multifaceted ties with Vietnam
 A photo of PM Nguyen Xuan Phuc (fourth from right) and the delegation from Fukuoka prefecture Prime Minister Nguyen Xuan Phuc expressed his hope that Vietnam and Japan’s Fukuoka prefecture will strengthen cooperative ties in the fields of their strengths for mutual development and benefits while receiving Governor of Fukuoka Hiroshi Ogawa in Hanoi on June 27. Lauding the visit to Vietnam by leaders of Fukuoka prefecture, PM Phuc wished that Fukuoka will enhance twining relations with Vietnamese localities. Ties between the two countries’ localities play an important part in the Vietnam-Japan extensive strategic partnership, he noted, recommending that the two sides foster economic, cultural, tourism and people-to-people exchanges. Meanwhile, Ogawa said that the Fukuoka delegation’s visit to Hanoi aims to mark the 10th anniversary of the cooperative and friendship ties with the capital city. Both localities have organised exchange activities in various sectors, particularly environmental and youth cooperation. Fukuoka prefecture has strengths in manufacturing as well as robot, automobile and steel production, he stated, adding that agriculture was added to the cooperation agreement with Hanoi. As Vietnam-Japan relations are now at the best, Fukuoka realises its responsibility to make contributions to the development of the ties, he underlined, suggesting both sides promote people-to-people exchanges. He expressed his hope that the Japanese prefecture will continue to receiving support from the Vietnamese Government and the Prime Minister to step up cooperative ties between the two sides.-VNA Russian experts hail Vietnam’s efforts in fight against corruption
 At the national conference on corruption prevention held in Hanoi on June 25 Russian experts have applauded the national conference on corruption prevention held by Vietnam’s Central Steering Committee on Anti-Corruption in Hanoi on June 25, during which a large-scale programme to root out corruption was mapped out, according to Sputnik radio broadcaster. Vietnam is on its right track to fight corruption, Professor Vladimir Kolotov, Director of the Ho Chi Minh Academy under the Saint Petersburg National University told Sputnik. General Secretary of the Communist Party of Vietnam (CPV) Nguyen Phu Trong was absolutely right when considering corruption is an internal invader of the country, Kolotov said The conference gave out impressive figures of the critical losses to the national economy caused by corruption, he said, noting that the struggle against corruption initiated by the CPV has no restricted zones and no exception and disciplinary measures and criminal charges were imposed on even high-ranking officials. Also, the conference stated that President Ho Chi Minh’s thought in preserving the Party’s purity has a crucial role in the thorough change in Vietnam, he stressed. Meanwhile, Dr. Vladimir Mazyrin, Director of the Far East Institute’s Vietnam-ASEAN Research Centre, said he was impressed by Party General Secretary Trong’s statement “It is too early to satisfy with the achievements” and “there is a huge load of work in the fight against corruption”. According to a report delivered at the conference, since 2014, disciplinary measures have been applied on 840 Party organisations and 58,120 Party members, of whom, 2,720 violated anti-corruption regulations. Since the beginning of 2016, 490 Party organisations and 35,000 Party members have been punished, including 1,300 Party members involved in corruption. Notably, 50 centrally-managed officials, including nine members or former members of the Party Central Committee, received disciplinary measures. Among them, Dinh La Thang, a former member of the Politburo, was expelled from the Party. Over the years, many serious corruption and economic cases were brought to light and handled in accordance with the law without any exceptions. VUFO’s friendship insignias presented to IGE members  Vice President of the Vietnam Union of Friendship Organisations (VUFO) Bui Khac Son presented insignias “For Peace and Friendship Among Nations” to three members of the Institute of Global Engagement (IGE) during a ceremony in Hanoi on June 27. The VUFO’s most noble distinctions were granted to IGE founder and first Chairman Robert Seiple, former Chairman and Honorary Chairman Chris Seiple, and Manager of IGE Programme in Vietnam Vu Thi Mai Hien. Speaking at the event, Son hailed the IGE as one of the close partners of the Vietnam-US Society (VUS) and thanked the IGE and individuals for contributing to the friendship between the Vietnamese and US people. He expressed his belief that the IGE will further grow and ties between the IGE and the VUS, and other Vietnamese partners will see new progress. Robert Seiple, for his part, attributed the thriving Vietnam – US ties to mutual understanding between the people of the two countries. As a non-governmental organization of the US, the IGE was founded in 2000 with a view to developing the environment for dealing with conflicts and promoting religious freedom worldwide. In 2005, the IGE began partnering with the VUS as a bridge linking Vietnamese and US organisations together. With many years of working in Vietnam, Robert Seiple has gained an insight into Vietnamese history and culture. He has cherished many social development projects with a hope of bringing a better life to the Vietnamese people. His special sentiment to Vietnam has been passed down to his son Chris Seiple, who later did the same mission in Vietnam. Chris Seiple, on his position as IGE Chairman for many years, raised many initiatives on freedom of religions and belief. He also helped strengthen mutual understanding between local authorities, religion officers and religious followers in Vietnam. Previously living and studying in the US, Hien has worked for the IGE since 2007. With insightful understanding of Vietnamese society and people, she has made important contributions to connecting the IGE with Vietnamese partners.-VNA Hanoi expects stronger cooperative ties with Japan’s Fukuoka
 At the reception (Photo: hanoimoi.com.vn) Hanoi wants to continue promoting cooperative ties with Japan’s Fukuoka prefecture in the fields of trade, investment, education-training, environment, science-technology, cultural exchange and agricultural development, said Vice Chairman of the municipal People’s Committee Ngo Van Quy. At a reception on June 27 for Governor of Fukuoka Hiroshi Ogawa, Quy laid stress on the fruitful cooperation between the two sides in environment, education-training, culture and investment since they established cooperative and friendship relations in 2008. With total committed amount of over 2 billion USD, Japan is currently the largest provider of official development assistance (ODA) for Hanoi, he said, noting that Japan is also the biggest foreign investor in the capital city with registered capital of more than 5 billion USD and Fukuoka is the third largest trade partner of Hanoi. Touted as an attractive destination for foreign travellers, Hanoi welcomed 2.2 million visitors, including nearly 300,000 from Japan in 2017, Quy said. Briefing the guest about Hanoi’s economic development in the first half of the year, Quy said that the city recorded economic growth of 7 percent, higher than the same time last year. The city’s exports surged 10.1 percent year on year and attraction of foreign investment rose 9.9 percent. Ogawa, for his part, noted that Fukuoka prefecture has strengths in manufacturing as well as robot, automobile and steel production. With considerable experience in the application of high technology in agriculture, Fukuoka hopes that it can contribute to agricultural development in Hanoi in particular and in Vietnam in general, he said.-VNA WEF ASEAN 2018 to promote Vietnam in international arena
 Deputy Minister of Foreign Affairs Bui Thanh Son (right) and World Economic Forum President Borge Brende chair a press conference on the WEF ASEAN 2018 in Hanoi on June 27. The hosting of the 2018 World Economic Forum on ASEAN (WEF ASEAN 2018) will deepen cooperation between Vietnam and the WEF and promote the country among the political circles as well as leading global and regional enterprises, said a senior official. Deputy Minister of Foreign Affairs Bui Thanh Son, who is also head of the organizing committee, made the comment at a press conference on the WEF ASEAN 2018 in Hanoi on June 27. The WEF ASEAN 2018 is scheduled to take place in Hanoi from September 11-13, focusing on the theme “ASEAN 4.0: Entrepreneurship and the Fourth Industrial Revolution.” It is one of the WEF’s biggest and most important events in the region, Son said. The event will bring together leaders of ASEAN and regional nations, representatives of international organisations, policymakers, experts, scholars, and business leaders in the region and the world. This year’s theme addresses the common concerns of ASEAN member states and other countries in the region and is closely connected to the ASEAN theme for 2018 “Resilient and Innovative,” the deputy minister noted. By hosting the event, Vietnam expects to step up cooperation with partners, leading world enterprises, expand markets and attract high-quality investments and advanced technologies for the country’s economic restructuring and renovation of growth model, he added, WEF President Borge Brende spoke highly of Vietnam’s robust economic growth and competitiveness. He stressed that Industry 4.0 brings both opportunities and challenges to ASEAN nations and the WEF wants to foster partnership with ASEAN to tackle these challenges for the benefit of people in the region. The event will address strategic issues of national and regional significance under three thematic pillars – Entrepreneurship to craft new approaches to regional and global governance; Entrepreneurship to drive economic and business dynamism; and Entrepreneurship to shape social inclusion. The WEF was established in 1971 as a non-profit foundation and headquartered in Geneva, Switzerland. The forum engages the foremost political, business and other leaders of society to shape global, regional and industry agendas.-VNA VFF President congratulates Hoa Hao Buddhism’s 79th anniversary  President of the Central Committee of the Vietnam Fatherland Front (VFF) Tran Thanh Man has sent a letter of congratulations to the Central Executive Committee, dignitaries and followers of Hoa Hao Buddhism to recognise of the sect’s 79th founding anniversary (the 18th of the fifth lunar month). In the letter, Man lauded Hoa Hao Buddhist followers for staying united with other religions and people nationwide to carry out movements launched by the VFF such as building new-style rural areas, civilised urban areas, rural roads and offering free meals to hospital patients, activities which have been welcomed by society, contributing to strengthening national unity. He expressed his belief and hope that Hoa Hao Buddhist followers will continue abiding by Party policies and State laws and joining social welfare and vocational training activities, health check-ups and treatment and other social activities. Man wished that they would continue joining campaigns and patriotic emulation movements launched by the VFF Central Committee, especially the campaigns “All people stand united to build new-style rural and civilised urban areas” and “Vietnamese people prioritise Vietnamese goods”. He wished that all Hoa Hao Buddhist followers would celebrate the grand anniversary in joyful spirit and closely connected with national unity. There are 397 local executive committees of Hoa Hao Buddhism in 17 cities and provinces at present, according to the Hoa Hao Buddhist Sangha. Deputy PM updates US firms on Vietnam’s economic policies
 An overview of Deputy Prime Minister Vuong Dinh Hue and leaders of the US-ASEAN Business Council (USABC) Deputy Prime Minister Vuong Dinh Hue met with US enterprises during his visit to the US from June 25-27 to introduce Vietnam’s external and macro-economic policies, economic reform and investment attraction mechanisms. Addressing a talk held by the American Enterprise Institute (AEI) on June 26, the Deputy PM said that Vietnam and the US have shared interests in a peaceful, stable and prosperous environment in the region where maritime and aviation freedom, security and safety are respected. This is an important condition for regional cooperation and development, he stressed. Scholars from the AEI lauded the vision and external, economic and integration policies of Vietnam, while expressing hope that the Vietnam-US comprehensive partnership will continue to be fostered amidst a changing world. They also showed their desire to expand ties with Vietnamese officials, scholars and researchers. At a business seminar held by the US-Asia Institute and VinaCapital in Washington D.C. the same day, Deputy PM Hue noted that the Vietnamese economy grew 7.38 percent in the first quarter of 2018, a 10-year high. He affirmed Vietnam’s commitment to create a business environment meeting standards of the Organisation for Economic Cooperation and Development (OECD), and answered questions on cooperation and business opportunities in Vietnam. The US enterprises praised the Vietnamese Government’s commitments, lauding the country’s policies to lure investment in infrastructure, energy, pharmaceuticals, e-commerce, service, State-owned enterprises’ restructuring and startups. On June 27, Deputy PM Hue met with leaders of the US-ASEAN Business Council (USABC), during which he highlighted that leaders of the US’s Congress, National Security Agency, Departments of States, Finance, Commerce and Agriculture all affirmed that the US is keen on boosting relations with Vietnam, especially in economy, trade and investment. This is an assurance for businesses of both sides in the long-term, he added. The Deputy PM reiterated that the Vietnamese Government is willing to listen to enterprises to improve the country’s business environment and ensure fair conditions for businesses. He also answered questions from US firms on various fields, especially the newly-adopted Law on Cyber Security, the payment activities of banks, regulations on automobile import and granting licences in agricultural areas. Vietnam always abides by international rules, while giving optimal conditions for businesses as long as they ensure consumers’ interests and Vietnam’s national security, stated the Deputy PM. The same day, he met with some US leading firms investing in Vietnam, including Nike, Coca-Cola, Visa, Exxon Mobil, Murphy Oil and AES. The US firms thanked Vietnam for supporting them over the years, highlighting that Vietnam is a dynamic market with high potential. They expressed their wishes to expand their activities in Vietnam. VNN |
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BUSINESS IN BRIEF 28/6 VEAM to debut on UPCoM in July  The Vietnam Engine and Agricultural Machinery Corporation (VEAM) will trade 1.33 billion shares on the Unlisted Public Company Market (UPCoM) on July 2. VEAM’s code is VEA and it will debut at VND27,600 (US$1.22) per share, the Ha Noi Stock Exchange said in a statement on Tuesday. At that price level, the value of the firm is estimated at VND36.6 trillion ($1.5 billion). The company has a charter capital of VND13.3 trillion. It plans to move to the HCM Stock Exchange in the third quarter of this year. VEAM used to be a State-owned enterprise and was equitised on January 21, 2017. Current shareholders include the Ministry of Industry and Trade (holding 88.47 per cent of capital), Hoa An Trade and Investment Co. Ltd (six per cent) and foreign investors (3.05 per cent). VEAM posted VND6.56 trillion in total revenue in 2017, a yearly increase of four per cent. Its post-tax profit in 2017 rose by 13 per cent year-on-year to VND5.1 trillion. The company targets VND3.54 trillion in total revenue and VND4.9 trillion in post-tax profit in 2018. It expects to pay 28 per cent dividend, almost nine times the 3.7 per cent dividend payout rate in 2017. In the first quarter of this year, VEAM recorded VND1 trillion in post-tax profit, an annual increase of 27 per cent. Hanoi sees 12,100 new enterprises in six months Up to 12,100 new enterprises were established in the capital city of Hanoi in the first six months of 2018, with total registered capital of 124 trillion VND (around 5.46 billion USD), reported the municipal People’s Committee. The figures represent a reduction of 3 percent in the number of businesses but an increase of 31 percent in the amount of capital compared to the same period last year. During the period, nearly 1,950 firms resumed their operations, down by 1.5 percent year-on-year, while more than 4,300 stopped operations, surging by 51 percent over the same period last year. Hanoi also saw 720 firms completing dissolution procedures in the first half of the year, 32 percent higher than last year’s corresponding period, the report said, adding that as of June, the city is home to some 251,500 enterprises. From January to June, the city’s total social investment capital reached an estimated 128.9 trillion VND (5.67 billion USD), up by 10 percent year-on-year. The registered capital of investment projects outside the State budget hit 80 trillion VND (3.52 billion USD), up 19 percent year-on-year, while foreign investment stood at 1.2 billion USD, up by 9.5 percent compared to the same period last year. To date, the city has 4,325 valid foreign direct investment (FDI) projects, capitalised at 27.94 billion USD, of which 15.4 billion USD has been disbursed. Gia Lai shifts to planting fruit trees with high economic value The Central Highlands province of Gia Lai has worked to replace traditional key farm produce like rubber, coffee and pepper with fruit trees, which generate more income. The province is home to more than 7,200ha of fruit trees, up nearly 1,200ha against 2016. The area is mainly to grow banana (1,700ha), mango (more than 1,000ha), durian (560ha) and dragon fruit (350ha), among others. It aims to have 10,000ha under fruit trees by 2020, focusing on fruits with geographical indication tags. In addition, Gia Lai will promote high-tech agriculture and processing of farm produce, along with clean and renewable energy and tourism, said Chairman of the provincial People’s Committee Vo Ngoc Thanh. The province will support businesses as well as seek domestic and foreign partners to achieve sustainable economic growth, he added. Duc Co border district is among localities with the strongest efforts to restructure agricultural production, with more than 350ha of fruit trees at present. Durian, the district’s staple, is grown on 200ha of land along with rubber and coffee gardens. The district’s durian output hits between 8-12 tonnes per hectare annually, raking in high income for growers. Similarly, KBang district has replaced coffee with fruit trees in more than 500ha of land. Tran Thi Lan, a farmer in the district’s Son Lang commune, earns more than 200 million VND (8,700 USD) in profit a year by growing organic oranges. Major businesses have also started to invest in Gia Lai’s fruit sector. Notably, Hoang Anh Gia Lai Joint Stock Company planted more than 900ha of fruit trees in the province using a banana variety from South America, Thai durian, avocado and passion fruit. In 2017, the company shipped nearly 700 tonnes of fruit to China and Thailand, with total export revenue exceeding 430,000 USD. A project to build one of the nation’s most modern fruit and vegetable processing factories in the province is set to be completed in July 2018. Invested by the Dong Giao Foodstuff Export JSC (DOVECO) to the tune of 300 billion VND, it is expected to yield 40,000 tonnes of products per year and generate jobs for thousands of local labourers. Once operational, the factory is estimated to rake in 2 trillion VND (87.3 million USD) of revenue, including 80-90 million USD from exports, per year. Universal Robots introduces two new tech platforms Universal Robots, the pioneer in collaborative robots (cobots), is setting a new standard for collaborative automation platforms in Vietnam with the introduction of its new flagship e-Series cobots. The firm plans to begin shipping units to customers from the beginning of August. The new range follows Universal Robot’s co-founder, Mr. Esben Østergaard, being awarded the 2018 Engleberger Award, the “Nobel Prize” of robotics. Demand for automation and robotics continues to grow in Vietnam, particularly in the automotive, electronics, textile, footwear and food processing industries. Electronics is the largest export sector in the country, contributing $71 billion in 2017, and is a high adopter of cobots. The Vietnamese Government has unveiled the 2011-2020 Strategy for Science and Technology Development to enhance economic competitiveness and speed up industrialization, prioritizing the importance of industrial robots and hi-tech automation. “Cobot demand is growing in Vietnam as automation is increasingly becoming a necessity for businesses to achieve greater production efficiencies amid rising operational costs, labor shortages, and increasing competition,” said Ms. Shermine Gotfredsen, General Manager, Southeast Asia and Oceania, at Universal Robots. “With the e-Series and G3 product lines, we now offer customers two distinct technology platforms, catering to a wider range of business needs.” The new e-Series cobot platform includes technological advances that enable faster development for a wider variety of applications. Improvements include the ability to economically address even more applications, thanks to greater precision and sensitivity provided by a built-in, tool-centric Force/Torque sensor. Like other Universal Robots offerings, the new e-Series offers unparalleled convenience. It takes just one hour to unpack the cobot, mount it and program the first task. A wrist-join-tool communication interface reduces production line integration time and complexity. Meanwhile, from a service standpoint, all joints can be replaced in two to six minutes. A re-designed intuitive and responsive-touch user interface expedites program development by simplifying programming to a few clicks on a new lightweight, wide-screen Teach Pendant. Looking at the big picture, e-Series users can expect a fast return on investment with a cobot system ready for any future application and with long-term productivity gains. “Our e-Series platform is leveraging our years of experience as the market leader within collaborative robots,” said Mr. Jürgen von Hollen, President of Universal Robots. “The ‘e’ in e-Series underpins our key vision and overall product philosophy, specifically Empowering people and making it Easy for Everyone.” With the e-Series launch, Universal Robots now provides two different technology platforms. For customers interested in cobot capacity expansion for proven applications, the G3 is an ideal choice. The e-Series benefits businesses with advanced applications and diverse or uncertain future needs. Forum connects Vietnamese startups at home and abroad The forum “Connecting Vietnamese startups at home and abroad” was kicked off in Ho Chi Minh City on June 26, bringing together about 400 startup experts, local and foreign investors, innovation and startup support providers and students. In his opening remarks, Secretary of the municipal Party’s Committee Nguyen Thien Nhan said he expected that through the forum, experts will help the city and tackle problems that hinder its development, one of which is the lack of connectivity between the scientist circle and businesses. To address the weak point, the city must foster the development of the local technology market in a bid to give firms better access to technological products, he said, adding that technology and business must go together when a new enterprise is formed. Nhan moved on to say that after the recent visits to the US and Israel, the city’s leaders believed that it is very important to bring together Vietnamese people at home and overseas as experience sharing from such connectivity will support a business from the start, from market research, personnel recruitment to developing a business plan and making the product available on the market. To grow faster, the city must rely on people, especially Vietnamese people overseas, the official stressed. The forum, co-held by the Ministry of Foreign Affairs and the city’s People’s Committee on June 26 - 27, aims to share entrepreneurship advice and startup experience, connect entrepreneurs at home and abroad and introduce them to potential investors and investment funds. It is also an opportunity for the startups to discuss with local policymakers their challenges and needs for support. Greater connectivity urged between domestic, FDI firms in electronics Very few domestic firms in support industries supply parts for FDI enterprises in the electronics industry, according to Nguyen Mai, President of the Vietnam Association of Foreign Invested Enterprises (VAFIE). Though FDI in Vietnam has almost reached 190 billion USD to date, accounting for more than one fourth of the country’s total investment, its spillover effects on local companies have yet to expand as expected. “FDI firms themselves want Vietnamese small- and medium-sized enterprises (SMEs) to be their local suppliers in order to help them reduce cost and improve competitiveness. But many problems have remained to hamper the effective connectivity among them,” Mai said. Electronics has become one of the economy’s key sectors, making Vietnam among the world’s 12 leading electronic workshops and the third largest one in ASEAN, said President of the Vietnam Chamber of Commerce and Industry (VCCI) Vu Tien Loc. The electronics led all industries in export turnover in 2017, earning the country more than 70 billion USD, 2.5 times higher than the textile-garment industry and nearly 5 times higher than the footwear, Loc noted. The number of electronic firms in Vietnam doubled over the past five years. The workforce in the sector also tripled, from nearly 239,000 workers in 2011 to 611,500 at the end of last year, he cited, adding that the electronics has maintained a big magnet for FDI into Vietnam. Despite such success, the VCCI chairman voiced concern over the fact that there is only one Vietnamese company among every 100 large firms in the electronics industry. Some 99 others are FDI enterprises, he said. These 99 firms contributed to 95 percent of the sector’s export turnover and 70 percent of sale revenue of electronic products in the local market. “Most of FDI firms in the electronics sector are just assembling workshops in Vietnam,” Loc explained, stressing the need to improve connectivity between the domestic and FDI firms. The Ministry of Industry and Trade’s Industrial Policy and Strategy Institute (IPSI) conducted a survey last year, interviewing 194 domestic manufacturers of mental, electrical, electronic, plastic and rubbery parts. The findings show that there were very few of them supplying parts for FDI producers in the fields of manufacturing, automobile, electronics, industrial machine and others. To solve this problem, the Vietnam Electronic Industries Association (VEIA) has been coordinating with the VCCI and the Government of Japan to carry out several projects to increase the number and the quality of employment in the electronics sector and foster cooperation between FDI firms and local SMEs. These projects have benefited 127 companies through a series of training events and policy dialogues. It could be the start of an era with improved connectivity between domestic and FDI firms towards the formation of a better electronic supply chain in Vietnam. Vietnam firms advised to penetrate into Middle East market Besides traditional markets such as the US, EU and Japan, Vietnamese enterprises should make inroads into the Middle East market, according to experts. The Middle East is a market with more than 400 million people and 16 countries. This region imports some 40 billion USD worth of food per year, which is projected to hit 70 billion USD by 2035. Over the past few years, trade between the Middle East and Vietnam has grown to reach 8.06 billion USD in 2016 and 12 billion USD in 2017, with Vietnam exporting 9 billion USD and importing 3 billion USD worth of goods. Vietnam mainly exported mobile phones, footwear, garment-textile, rice, pepper, wood and timber products, cashew nuts, fruits and vegetable and coffee. According to the Ministry of Industry and Trade, Middle Eastern nations have big purchasing power with annual average gross domestic product per capita of 60,000 – 127,000 USD. Consumption products and farm produce are the two main import products in the region. Moreover, the Middle East is an entrepot to other markets in North Africa and Central Asia. President of Intimex Group and Vice Chairman of the Vietnam Coffee and Cacao Association Do Ha Nam said the Middle East has big demand for rice, coffee, pepper and aquatic products. He advised businesses to penetrate the market through Dubai because this is one of the most open economies and the gateway of goods to the region. Businesses should participate in trade fairs in Dubai to meet with partners from the Middle East and neighbouring regions. The Ministry of Industry and Trade suggested Vietnamese exporters study business customs as well as regulations and certificates to export to the Middle East. Deputy head of the ministry’s Asia-Africa Market Department Le Thai Hoa said the Middle East is known as a potential market with high import demand without strict quality requirements. To enable domestic firms to boost exports to the region, the Vietnamese Government will simplify administrative procedures on tax and reduce time for customs at international ports, he said. Recently, the Ministry of Industry and Trade abolished thousands of unnecessary administrative procedures to aid local exporters, he added. Deputy Director of the Vietnam Chamber of Commerce and Industry (VCCI) branch in Ho Chi Minh City Nguyen The Hung said the agency has held a number of exchange programmes and survey tours for Vietnamese businesses to explore foreign markets. To increase connectivity between Middle East and Vietnamese enterprises, the United Arab Emirates’s Relam Investment and Vietnam’s MIG Holdings signed a cooperation agreement to launch Trade Hub in Vietnam – a platform operating in many countries to connect online trade. The Trade Hub is set to go into operation in July 2018, connecting manufacturers, services suppliers, financial organisations and investors. IMF helps with public investment management assessment A training conference on Public Investment Management Assessment (PIMA), which was developed by the International Monetary Fund (IMF), took place in Hanoi on June 26. The Party Central Committee's Economic Commission and IMF co-organised the conference, where an IMF expert introduced the PIMA tool and fielded participants’ questions on the tool and its applications in real-life situations. According to the IMF, the PIMA evaluates 15 institutions that shape public investment decision-making at the three key stages – planning sustainable development across the public sector; allocating investment to the right sector and projects; and implementing projects on time and on budget. Speaking at the conference, vice chairman of the commission Ngo Van Tuan highlighted the importance of the event, expecting public personnel using PIMA to work closely with IMF experts in making assessment and recommendations. Jonathan Dunn, IMF Resident Representative in Vietnam and Laos, said this is an efficient tool to study public investment. Ensuring the optimisation of public investment is needed in order to improve fiscal health, he noted. Dunn said he wants to help the Vietnamese Government identify priorities for the upcoming period and looks for further cooperation with Vietnam. The same day, the Party Central Committee's Economic Commission convened a meeting of its steering committee for compiling PIMA reports. Workshop seeks to optimise agri-silviculture More than 100 delegates from Southeast Asian countries gathered at a workshop in the central city of Da Nang on June 26 to seek measures for harnessing the potential of agro-forestry for a prosperous and resilient ASEAN. Participants discussed the role and contributions of the agri-silviculture, or the combination of growing of agricultural crops with simultaneously raised and protected forest crops, in ASEAN member countries’ strategy. They highlighted a number of issues, including the agri-silviculture in association with restoring and protecting of river basins, and agro-forestry combination in managing disasters and restoring capacity. Dr. Nguyen Phu Hung, head of the Department of the Science-Technology and International Cooperation under the Vietnam Administration of Forestry, said that the workshop aims to raise awareness of the role of agri-silviculture in ensuring food security and enhancing the recovery capacity amidst climate change, natural disasters and other extreme weather conditions in Southeast Asian countries. The event also created opportunities for speeding up cooperation among regional countries, organisations and sponsors in boosting agro-forestry development. Recently, agri-silviculture has proved great benefit in economy, society and environment. Currently, the application of model with a purpose to ensure food security and climate change adaption in Southeast Asia has been modest due to a lack of adequate policies for agri-silviculture development. Therefore, the building of guidelines on developing agri-silviculture in the Southeast Asian region is considered a priority and most practical activity in the context of climate change, disasters and extreme climate conditions. VPBank to buy back 73 million shares The Vietnam Prosperity Joint Stock Commercial Bank (VPBank) will buy back more than 73.2 million shares as treasury shares. The shares were issued by the bank as preferred bonus shares on July 8, 2015. VPBank will buy the shares at nearly VND34,000 (US$1.5) per share, it said in a filing to the HCM Stock Exchange. The total value of the deal is estimated to be nearly VND2.5 trillion ($111 million). The transactions will be carried out between July 9 and 20. VPBank has some 2.4 billion outstanding shares at the moment, of which more than 1.3 billion shares are listed on the HCM Stock Exchange under code VPB. VPB fell 1.1 per cent to close Tuesday at VND32,550 per share. VPBank recently announced the bank would finalise the list of shareholders who will receive 20 per cent cash dividend on Friday. The value of the dividend is estimated to be VND146 billion. VPBank was approved by the State Bank of Viet Nam in late May to increase its charter capital to nearly VND25.3 trillion from the current VND15.7 trillion via five share issuances. The bank earned VND2.6 trillion in pre-tax profit in the first quarter of 2018, a yearly increase of 36 per cent. VinFast partners with global auto part suppliers VinFast Manufacturing and Trading Company, a member of property developer Vingroup, recently organised a successful workshop in Frankfurt, Germany, with the participation of automobile part suppliers. The event brought together more than 300 prestigious suppliers from around the world and proved the attractiveness of VinFast’s large-scale automobile production project, affirming the company’s commitment to roll out auto lines of international standards. To produce high-quality cars that meet international standards, VinFast has paid great attention to seeking capable partners supplying spare parts and components. At the workshop, the company talked about the potential of the car market in Viet Nam, the objectives and visions of VinFast as well as the scale and progress of the project. Viet Nam today is emerging as one of the most potential consumer markets in the world, although the car ownership rate of the Vietnamese people is quite low---only 23 vehicles per 1,000 people, while the equivalent in Thailand is 204 vehicles per 1,000 people, and the minimum in developed countries is 400 vehicles per 1,000 people. However, with rising incomes, estimated at more than US$3,000 per head by 2021, combined with increasingly improved infrastructure and attractive demographic characteristics, it will be the premise for the Vietnamese automobile market’s purchasing power, which is expected to grow strongly in future. But Viet Nam does not have a Vietnamese car brand, and the domestic automobile industry still stands at the import and assembly stage. Based on research findings and after waiting for the appropriate time, Vingroup decided to invest in the project of producing automobiles and electric motorbikes with an aim to build a Vietnamese automobile brand meeting international standards. It also plans to contribute to the development of a leading auto industry in Viet Nam. As a Vietnamese automotive brand with international vision, VinFast has set a large production target, with an expected capacity of 250,000 cars in the first phase and 500,000 cars in the next phase, becoming the leading car manufacturer in Southeast Asia. The product portfolio of the company is also extremely rich, including gasoline types (sedan, SUV, hatchback), small electric vehicles and electric buses. VinFast has partnered with many prestigious corporations all over the world, including BMW, Magna Steyr, AVL, EDAG, Pininfarina, ItalDesign, Bosch and Siemens. It has built a team of experienced leaders from the world’s leading companies in automobile production. VinFast is a leading company in Viet Nam with the cooperation of partners in the supporting industry. The company has allocated 70ha of land to Phase 1 of the project in the northern city of Hai Phong for part supplies and supports maximum efforts in infrastructure and implementation procedures. According to VinFast, these are the parameters that prove the company will have a large demand for components and spare parts and establish long-term international partnerships. “VinFast is not only important for Vingroup, but also for Viet Nam, so we are working hard together with our partners for the successful implementation of this project,” said James DeLuca, general director of VinFast Production and Trading Company Limited. “We also recognise the indispensable role played by suppliers in this unique project and believe that the essential foundation for the two sides to go further is based on the relationship and cooperation. Therefore, we hope to further strengthen the relationship between the two parties and hopefully after the seminar in Germany, the suppliers will become part of the VinFast family,” he added. At the workshop, international suppliers expressed great interest in the Vietnamese automobile market, particularly in the VinFast project, and appreciated the scale of production as well as the historical mission of the project. According to industry representatives, with the vision of large-scale production and international standards, VinFast will have many potential customers. Some suppliers have expressed their desire for a long-term cooperation with VinFast through setting up of component factories in the project complex in Hai Phong. Vietjet to pay additional 20% dividend Vietjet Air plans to pay an additional 2017 dividend of 20 per cent of charter capital, according to its latest report. The registration date is July 2, corresponding to an ex-rights date of June 29. After this payment, Vietjet will then pay the previously-approved 2017 dividend to shareholders of 60 per cent, of which 40 per cent is in cash. Vietjet has regularly paid high dividends over the years, at time at more than 100 per cent. It has approved a 2018 dividend of 50 per cent. The Petro Trading JSC (Petechim) recently registered to buy 100,000 Vietjet shares after buying all 150,000 shares registered in the session previous. Vietjet’s high growth continued in the first quarter of 2018. Revenue stood at VND12.56 trillion ($558 million), an increase of 146 per cent year-on-year, thanks to growth in passenger air transport, ancillary services, and sales and leaseback revenue. After-tax profit of the parent company’s shareholders reached VND1.366 trillion ($60.7 million), a 263 per cent increase year-on-year. Pre-tax profit was $358 million, or 25.5 per cent of the annual target. Earnings per share in the quarter were VND3,026 ($0.13); among the highest on Vietnam’s stock market. Vietjet currently operates 55 A320 and A321 aircraft with more than 385 flights daily, carrying more than 55 million passengers to date on 82 routes covering destinations in Vietnam as well as international destinations such as Hong Kong, Singapore, South Korea, Taiwan, China, Thailand, Indonesia, Myanmar, Malaysia, and Cambodia. It plans to expand its network across the Asia-Pacific region and is continuing to expand its regional network. It has recently signed contracts to purchase new aircraft from the world’s leading aircraft manufacturers. For the second consecutive year it was honored in Nhip cau Dau tu magazine’s “Vietnam’s 50 Best-Performing Companies 2017” awards and is a member of the “Billion-Dollar Club” of companies that have market capitalization in excess of $1 billion. Technical transfer programme brings together Vietnamese, RoK businesses Representatives from businesses and universities of the Republic of Korea introduced cutting-edge technologies in various fields at a B2B matching programme in Ho Chi Minh City on June 26. The programme was jointly held by the Saigon Innovation Hub (Sihub), the Busan United Management of Technology Centre and the overseas Korean business association. It aims to connect Vietnamese businesses with RoK firms and universities in terms of technical transfer and supply-demand connectivity. One of the spotlights of the programme is the B2B Match event, which featured more than 50 meetings between Vietnamese and RoK enterprises who came to seek business opportunities. Huynh Kim Tuoc, Sihub CEO, described the RoK as an important partner among 100 partner countries of Sihub as the RoK is one of the leading nations in applying technologies in innovations. Within the framework of the programme, Sihub signed a cooperation agreement on technological development with the Busan United Management of Technology Centre. The agreement is expected to create a commercial bridge between Vietnamese and RoK firms. The event forms part of Sihub’s cooperation activities with RoK partners, aiming to expand its reach globally in 2020. So far Sihub has inked cooperation agreements with many RoK partners, including Shinhan Futures’ Lab and the overseas Korean business association. WHO backs Vietnam's new tax proposal on sugary drinks World Health Organization (WHO) experts have expressed strong support for a new tax on sugary drinks proposed by the Ministry of Finance. The proposal, which will go into effect in 2019 if passed, will impose a 10% special consumption tax on different type of beverages, including sweetened drinks. While the tax aims to prompt a shift from unhealthy consumption habits, it has been criticized by business representatives and experts who say the industry is already taxed heavily. The tax proposal comes in the wake of Vietnam being put on high alert over its consumption of sugary drinks, which has skyrocketed over the last 15 years. The WHO noted that a fourth of Vietnam’s population was already obese or overweight. Guilermo Paraje, a WHO consultant, said the 10% special consumption tax will increase the average price of sweetened drinks in the Vietnamese market by 5%, and provide a VND4 trillion (US$173.9 million) boost to the state budget. He further suggested three tax proposals that would increase the tax contribution to VND12 trillion - one liter of sweetened beverages will be taxed VND3,500; VND35 per gram of sugar in every 100 milliliters of a drink; or a 40% tax on factory price. All three options will increase average soda prices by 20%. “People will substitute sugary drinks with water or other products, leading to alternative jobs. The industry has also experienced industrialization so there are not many job opportunities in this sector,” Paraje said. Dr. Jun Nakagawa, WHO representative in Vietnam, said excessive consumption of sugar was the leading cause of overweight and obesity, which are linked to many health risks such as diabetes, heart disease and gout. Vietnam has added sugary drinks to the list of items to be placed under stricter control and tax regulations, along with cigarettes and alcohol. The government has banned the sale of soft drinks in all school canteens across Vietnam. Truong Tuyet Mai, deputy director of the National Institute of Nutrition, said that Vietnamese people are forecast to consume over 5 billion liters of sweetened drinks in 2018, nine times more than in 2000, and the figure is estimated to reach 11 billion by 2025. The new 10% special consumption tax would also accrue to other beverages, including carbonated or non-carbonated soft drinks, juices, flavored water, energy drinks, instant tea, pre-packed coffee and flavored milk. US newspaper calls for recognition of Vietnam’s market economy The Washington Times has recently posted an article calling on the US government to recognize Vietnam’s market economy, and it said that Vietnam has become the US’s comprehensive partner and relations between the two countries have expanded. The Vietnam-US Bilateral Trade Agreement (BTA) signed in 2001 sent a positive signal to investors, but the US has not yet formally recognized Vietnam’s market economy. Policy experts are optimistic about Vietnam’s progress toward meeting the standards of a market economy, it said. The paper quoted Professor Carl Thayer of New South Wales University, who said if Vietnam is recognized as a market economy, it will enjoy lower US tariffs. Vietnam has implemented the Doi Moi (renewal) policy since 1986, bringing prosperity to many people and expanding the middle class. Vietnam’s broadband service allows people to access multiple sources of information internationally, facilitating Vietnam’s integration into the global economy. It also boosts Vietnam’s leadership in ASEAN. The article said the US should recognize Vietnam’s market economy to improve Vietnam-US relations, strengthen maritime safety and security through joint naval exercises, and deploy regular maritime patrols in the East Sea. Vietnamese farm produce shines at Rungis International Market More than 30 Vietnamese agricultural businesses are running fruit and spice stalls as part of a Vietnam farm produce week starting June 26 at the Rungis International Market in Paris. It took the Ministries of Industry and Trade, Agriculture and Rural Development, and Hanoi Promotion Agency one year of preparation for the event to take place, marking the first large-scale introduction of Vietnamese agricultural products to French importers. Speaking at the opening ceremony of the event, Stéphane Layani, President and Director General of the Rungis International Market, praised the quality of Vietnamese farm produce, particularly lychees, dragon fruit and coconuts. He said he believes the products will be a hit in France and also Europe and other parts of the world. Vietnam can be considered an agricultural power but it lacks a large wholesale market to distribute products, he said, noting that Rungis is a trustworthy location for Vietnamese farm produce to reach European consumers. Layani said Rungis is willing to cooperate with Hanoi to build a wholesale market meeting European standards. Chairman of the Hanoi People’s Committee Nguyen Duc Chung said the model of the Rungis market, which spans over 230 hectares, records 9 billion EUR in annual revenue and offers top quality farm produce, can be applied in Vietnam, particularly Hanoi. He stated Hanoi wants to work with Semmaris, the company that manages the Rungis International Market, to study the feasibility of investing in a wholesale market in Hanoi following the Rungis model. The event, featuring a space of Vietnamese culinary delights cooked by French chef Didier Corlou, received a warm welcome from visitors. Vietnam’s fruit, vegetables and seafood are now available across 180 countries and territories. Earning US$36 billion from agro-forestry-fishery exports in 2017, Vietnam was ranked among 15 biggest exporters of the products in the world. HCM City seeks investment for container depot HCM City is calling for investment in a new inland container depot (ICD) project with total costs of VNĐ5.8 trillion (US$ 250 million) in Long Bình Ward in District 9. The city’s People’s Committee asked the District 9 People’s Committee soon to outline a 1/2000 zoning plan which includes the ICD construction project, and then submit it to authorised agencies for approval. If the zoning plan is approved, the city’s Department of Planning and Investment will select investors for the ICD project. SHB wins Business Excellence Award 2018 The Saigon Hanoi Commercial Joint Stock Bank (SHB) has been selected by the World Confederation of Business (Worldcob) as the only representative in Vietnam to receive the Bizz – Business Excellence Award 2018. The Bizz honours outstanding businesses and entrepreneurs in 120 countries around the world. To win the award, businesses must meet a number of strict requirements pertaining to leadership, management systems, quality in products and services, innovation and creativity, corporate social responsibility, and results obtained. The annual award ceremony is held in European, Asian and American cities. In 2018, Worldcob conducted a survey of Vietnamese enterprises and selected SHB as the only business to be awarded. SHB General Director Nguyen Van Le said the Bizz award recognised the bank’s efforts over the past years to bring the best products and services to customers, partners and shareholders. At the same time, it affirms the firm position of SHB in Vietnam’s financial market and reach further in the global arena, he added. Established in 1993, SHB is one of the five largest private banks in Vietnam. In the first quarter of 2018, its total assets exceeded 286.9 trillion VND (12.6 billion USD), including more than 12 trillion VND (527.4 million USD) of charter capital and 18.8 trillion VND (826.2 million USD) of equity capital. The bank mobilised 264 trillion VND (11.6 billion USD) of capital in January-April. The loan outstanding balance reached 202.5 trillion VND (8.9 billion USD), a year-on-year rise of 2 percent. SHB posted a pre-tax profit of more than 500 billion VND (21.9 million USD), up 63.5 percent against the same period last year. Over the years, SHB has won a number of prestigious domestic and international awards including Home Loan Product of the Year, Auto Loan Product of the Year, and Credit Card Initiative of the Year by the Asian Banking & Finance magazine. Most recently, SHB has won the Best Bank award in Vietnam 2018 from the US Global Finance magazine. The annual award was evaluated based on the growth of financial indicators such as total assets and profit, quality of products and customer services and technological development. New ideas crucial for retail success Maximising the shopping experience with the help of digital in-store solutions is key for future success in the consumer goods sector, delegates said at a seminar held in HCM City on June 27. Ho Mai Ho, General Manager of the FMCG (fast-moving consumer goods) sector at DKSH Vietnam, said joint research by DKSH and Smollan revealed that while the Vietnamese retail sector had healthy growth, the proliferation of retail channels made end-consumer reach more challenging. In an ever-growing market, the retail sector had undergone changes, with a broader array of shopping channels available than just a decade ago, he said. Retail sales in Vietnam would continue to expand, he noted. While traditional trade accounts for about three-fourths of total sales, modern trade channels have been growing in recent years and will continue to expand. With the average household size shrinking, consumption demand had changed and families tended to buy less at a time, Ho said, adding that Vietnamese shoppers were increasingly buying from modern trade channels. Bjorn Kruizenga, business development manager for Southeast Asia at DKSH Smollan Field Marketing, said that up to 70 percent of shopper decisions globally were made in-store, and 20 percent of shoppers made impulse and unplanned purchases. For 28 percent of products, the choice of brand to buy is usually made before reaching the store. In addition, about 25 percent of consumers notice that the category they impulsively bought was featured in a display. Finally, one in 10 shoppers would switch to another brand inside the store, he said. Maximising the shopping experience in-store was therefore key for a successful retail execution, he added. Ho said the company’s digital in-store solutions helped maximise the shopping experience and ensure shelf availability to consumer brands by providing them with smart data to track their key performance indicators. Field marketing in the last “mile” of the value chain had become an integral component for DKSH over the years, because it converted shoppers into buyers and helps drive sales for its clients, he said. To increase market share, FMCG brands could choose to launch new products or expand to more outlets or online channels, he said. "However, this requires significant R&D and marketing investments, while space on supermarket shelves is often limited." "Despite the growing popularity of e-commerce platforms, most FMCG sales are still transacted at physical points-of-sale." Thus, it was critical to optimise the supply of existing products in the retail space and maximize the retail availability and visibility at every opportunity, Ho said. Field marketing teams play a crucial role in being the enabler between FMCG brands and retailers to help both parties drive an optimal end-to-end supply of products to shoppers. Ho said that e-commerce in Vietnam, despite accounting for just 0.3 percent of total retail sales in the country in 2016, would develop strongly in the coming time. Enterprises need to invest and conduct research about e-commerce to map out appropriate plans for the future, he said. VNN |
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Social News 28/6 KOICA helps Vietnam’s green urban planning project
KOICA helps Vietnam’s green urban planning project. Major products of the Technical Assistance Project for Establishment of Vietnam Green City Master Plan assisted by the Korea International Cooperation Agency (KOICA) of the Republic of Korea (RoK) were announced at a conference in Hanoi on June 27. Addressing the event, Deputy Minister of Construction Phan Thi My Linh said after more than two years of implementation, with efforts of both Vietnamese and Korean experts, along with close coordination among the ministry, KOICA, and the authorities of Thai Nguyen and Kien Giang provinces - beneficiary localities, the project was finished with practical outcomes. It focused on developing the Green City index of Vietnam and the Green City Urban Planning Decision Support System (GDSS); making pilot planning projects in Yen Binh urban area of Thai Nguyen and Rach Ra city of Kien Giang; and building a legal framework on green urban planning, she noted. The Ministry and KOICE spent one year on preparing contents of the project before starting it, she said. The project’s results are expected to significantly contribute to realising Vietnam’s national strategy on green growth, sustainable development, as well as help improve the country’s capacity in building and managing the green urban planning. Products of the project will be useful documents for urban planning experts, thus supporting the management of urban development and planning in Vietnam in the future, Linh affirmed. The Ministry expects that the project’s products, particularly GDSS, will be introduced to many localities throughout the country, towards enhancing the capacity of urban development and management and building the information system on planning management and urban development nationwide, she said. Kim Jin-oh, Director of KOICA in Vietnam said with rapid economic growth and population expansion, Vietnam has been facing a serious of urban problems such as the lack of urban infrastructure facilities and environmental pollution. He said the Vietnamese Government has developed a Green Growth Strategy to balance economic development and environmental protection, while promoting efforts to devise relevant policies. Director of Thai Nguyen’s Department of Construction Hoang Duc Khanh said this is a practical project as it helps the State management agencies of Vietnam have a closer look at the planning-related issues. Thai Nguyen hopes to be selected for the project’s second phase, which will focus on green and smart urban development, he added. Cooperation with KOICA in the project will be seen as a reference for the building of a project on smart urban development that will be submitted to the Government in the coming time, Deputy Minister Linh said.-VNA Viet Tri- Ba Vi bridge on Red River has last sections joined
 The Viet Tri- Ba Vi bridge on Red River The final segments of a bridge over the Red River connecting Viet Tri city of the northern province of Phu Tho with Hanoi’s Ba Vi district were joined on June 26, after three years of construction. Invested by the Phu My Group at an investment of more than VND1.46 trillion (US$63.64 million), the bridge was built under a build-operate-transfer (BOT) contract. The time of payback is expected to be about 20 years. The main bridge spans about 1.55 kilometres, plus 7.54km of approach road on the Hanoi side and 0.26km on the Phu Tho side, linking the National Road 32 in Hanoi with the National Road 32C in Phu Tho province. It is set to allow vehicles in late August and be put into commercial operation in October. A toll station will be located at Phu Cuong commune of Ba Vi district, with the fee starting from VND35,000 per car. Upon its completion, the bridge is expected to enhance connection of Hanoi with Phu Tho province and the north western region, creating synchronous traffic infrastructure in the area. Hanoi plans to build 14 bridges crossing the Red and Duong Rivers in the city by 2030, according to the municipal Department of Planning and Investment. 2 dead, 6 injured in tragic Nghe An accident  A passenger bus travelling on Highway 1A in the central province of Nghe An lost control and plunged into a paddy field, killing two people and seriously injuring six others on June 27. Six victims with serious injuries were sent to Nghe An General Hospital 115. The passenger bus was heavily damaged. 2 dead, 6 injured in tragic nghe an accident hinh 1 After receiving notice of the accident, police in Hung Nguyen district, Nghe An province arrived at the scene to investigate the cause of the accident. Greenhouse cultivation warms Da Lat Once favored by holidaymakers in tropical Vietnam for its year-round temperate climate, Da Lat, the capital of the Central Highlands province of Lam Dong, is now warming at alarming rates due to the mushrooming of agricultural greenhouses on its outskirts and in nearby areas. The number of greenhouses in Da Lat and neighboring farming regions has grown by five times over the past five years, according to Dr. Vu Ngoc Long, former president of the South Institute of Ecology. Official reports put the total area of greenhouses in Da Lat and its proximity to around 5,600 hectares, but Dr. Long believes the actual number can be much higher. By the year 2020, Lam Dong looks to have over 17,500 hectares of ‘hi-tech’ farming land, meaning even more greenhouses will be built to realize this vision. “The statistics paint a gloomy picture of [the greenhouses’] impacts on Da Lat’s environment and landscape,” he said. “If you compare satellite photos of Da Lat in the old days and now, you would see green spaces being gradually replaced by vast swaths of white, the color of greenhouses. “The local agricultural industry is being dominated by greenhouses.” Greenhouses, despite their benefits, can have three major adverse effects on the environment -- raising air temperatures, reducing soil quality, and polluting the water system of an area, Dr. Long says. “The high density of greenhouses in Da Lat allows no room for ventilation, which leads to the build-up of hot air,” he explained The increase in outdoor temperature gives rise to a need for cooling systems inside the greenhouses, which emit hot air and other pollutants into the environment, worsening the situation. “The entire thing is a vicious cycle that only gets worse day by day,” Long said. According to the ecologist, the outskirts of Da Lat used to function as the city’s ‘air conditioner' that keeps its weather temperate throughout the year. As greenhouses begin to occupy this crucial space, coupled with increased construction in the city center, Da Lat is unsurprisingly getting warmer and warmer, he said. Readings show that the average yearly temperature in the Central Highlands city has climbed by 1-1.5 degrees Celsius over the past ten years. In areas with large numbers of greenhouses, this spike is even more noticeable, at around 3-5 degrees Celsius. Destruction of hillside forests to build greenhouses has also led to the degradation of soil quality, which is why there have been increased reports of landslides in the areas in recent years, Dr. Long explained. According to Dr. Vu Ngoc Long, the definition of hi-tech agriculture has not been fully understood by both policymakers and farmers in Vietnam. “The application of modern technology in farming is not all about greenhouses,” he said. “In fact, greenhouses are only a last resort when there is a need to grow crops in extreme weather conditions, while Da Lat’s climate is already ideal for growing greens and flowers.” According to Dr. Long, there is no reason to build greenhouses in Da Lat when they can be built basically anywhere else and still yield the same result, as the temperature inside such buildings can be monitored and adjusted. In European countries and the US, greenhouses are only constructed in locations where conservation is not as important as food production, he added. Lao students arrested for drug trafficking  Police in central Ha Tinh province have apprehended two Lao nationals who were trafficking a large amount of drugs into Vietnam's central province of Ha Tinh. The two suspects are identified as Phan Sai Lot Dala, born in 1993, residing in Laos's Kham Muon province, and Can, born in 1995, living in Bolykhamxay province, also in Laos. They are both final year students at Ha Tinh University. lao students arrested for drug trafficking hinh 1 They were caught red-handed at 8pm on June 25 at Ha Tinh City bus station while they were in the process of smuggling 200 amphetamine pills and 15 bricks of heroin from Laos to Ha Tinh province. Further investigation is still underway. Foreign organisations support children, disabled people in Thua Thien-Hue The central province of Thua Thien-Hue has received support from many foreign organisations in caring for children and people with disabilities in the forms of gifts and welfare projects. According to Head of the provincial People’s Committee Office Hoang Ngoc Khanh, the province has received 976 wheelchairs worth US$65,684 from the US-based Giving it Back to Kids organisation. Earlier in 2017, the Giving it Back to Kids organisation also presented people with disabilities in Thua Thien-Hue with 520 wheelchairs at total value of VND1.04 billion (US$45,760). Meanwhile, the Australian Blue Dragon Children’s Foundation provided nearly VND2.5 billion (US$111,364) as non-refundable aid to a project to prevent local children from migrating and falling victims to labour abuse. The project will be implemented by the provincial Women’s Union in two years from 2018. It aims to reduce the number of disadvantaged children in Phu Loc and Phu Vang districts who migrated in search for livelihood and became victims of labour abuse, and help such children return home. Major activities of the project include bringing children back to their family and help them re-integrate into the society, and assist women and children with high risks of labour abuse. The project will improve skills, capacity of leaders of the province and localities as well as community in preventing free migration and working at early age among children. The project also aims to create a safe and healthy environment for children who used to be children labourers and their families by supporting schools, building houses and raising awareness of relevant parties. Finland shares experience in smart city development with Binh Duong
 Finland shares experience with the southern province of Binh Duong in developing a smart city and innovation ecosystem during a workshop on June 27. (Photo: baobinhduong.vn) Finland shared experience with the southern province of Binh Duong in developing a smart city and innovation ecosystem during a workshop in the provincial capital of Thu Dau Mot on June 27. The workshop aims to introduce Finland’s successful models in developing smart cities and innovation ecosystems, particularly in terms of smart operation and infrastructure. Furthermore, through the workshop, Finnish experts will identify key elements for the adoption of proper solutions to support the province in this matter. Speaking at the event, Vice Chairman of the provincial People’s Committee Mai Hung Dung lauded Finland as a global leader in innovation. The country has been in the Top 10 performers on the Global Innovation Index (GII) and the Global Competitiveness Index (GCI) for years, he said, adding that the Finnish success in economic growth and fostering sustainable development through innovation is a valuable example for Binh Duong. Dung also spoke highly of the long-standing friendship between the two countries, which would aid cooperation between Binh Duong and Finland. During the workshop, speakers shared experience in developing a smart city and innovation ecosystem with a focus on innovating the industry for economic growth, delivering friendly and convenient services to people and enterprises and building a city of innovation. Quang Nam’s tourism village pursues green tourism
 A corner of Triem Tay community-based tourism village A green tourism week was launched in Triem Tay community-based tourism village, a major destination in the central province of Quang Nam, on June 27 with an aim to raise public awareness of ecological environment protection. A project launched in 2015 has given the Triem Tay community-based tourism village a facelift, helping it earn the certificate “ASEAN Community-based Tourism 2017-2019” in March 2017. Thanks to funding from the International Labour Organisation (ILO), UNESCO and local budget, many facilities such as community cultural house, piers and reception houses at Triem Tay wharf have been built over the past three years. Ancient houses in the village are preserved, while residents’ homes have been repaired and upgraded and roads and dykes built. Under the project, local residents have been involved in selecting outstanding local features and developing them into tourism sites, such as the Triem Tay orchard, the traditional mat weaving hamlet, the ancient houses of Mr Pho Ba and Mr Nghe Phung, and the uninhabited Triem Tay islet. Triem Tay village is located near the well-known Hoi An World Heritage Site and surrounded by several tourist attractions, such as Kim Bong wood carving and Phuoc Kieu bronze casting villages. It takes about 10 minutes to go to Triem Tay village from Thanh Ha pottery village by boats or just 5 minutes from Cam Kim and Kim Bong carpentry village (Hoi An city) by roads. It is an ideal place for walking, sailing, flying kites, and trying hands at weaving sedge mats and planting vegetables. More than 30 households voluntarily set up their own organisation called Triem Tay agricultural cooperative, including 7 service groups of food, art performances, gardening, sailing, craft village, accommodation and tour guide. Last year, the village welcomed nearly 10,000 visitors. Gala Vgong’s Got Talent marks Vietnam-Australia ties
 A performance at the event Hundreds of audiences were impressed by stellar performances staged by Vietnamese students in Wollongong (Vgong) at the Gala Vgong’s Got Talent event held in New South Wales, Australia, on June 16. The event was part of the activities to mark 45th anniversary of the Vietnam-Australia bilateral ties and cherish the establishment of the United Association of Vietnamese Students in New South Wales (UAVS) with the participation of Vgong as a member. It drew the participation of the Consul General of Vietnam in Sydney as special guest, students and guests from major universities in New South Wales such as the University of Wollongong (UoW), Sydney University, University of New South Wales, University of Technology of Sydney and Macquarie University. Vietnamese Consul General in Sydney Trinh Duc Hai stressed that education and training is among four pillars in bilateral cooperation under the agreement between the two countries to lift up ties to strategic partnership, which was reached during Prime Minister Nguyen Xuan Phuc’s visit to Australia in March. He expressed his hope that the UoW will play an important role in the bilateral education collaboration. After the establishment of the UAVS, the association of the Vietnamese intellectuals in New South Wales was set up, whose president and members are professors and researchers at the UoW. Pro-Vice Chancellor of the University of Wollongong Paul Gollan, for his part, highlighted that the university is proud of activities of the Vgong, one of the most active and effective clubs in connecting Vietnamese students in Australia. The UoW has long-standing relations with Vietnamese partners and universities, he said, adding that Vietnam is in top five countries with the most students pursuing study at the university, mostly in engineering, information and technology and business. The university also welcomes a line-up of leading researchers and scholars from Vietnam and last year many Vietnamese students received major awards and scholarships of the university, he underlined. Before the gala night, Hai had a meeting with the university’s executive board to discuss measures to foster education cooperation between the UoW and the Vietnamese universities and institutions in the fields of science and technology and business. VNN |
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BUSINESS IN BRIEF 29/6 SaigonBank, CEP sign financial service deal to benefit workers The Saigon Bank for Industry and Trade (SaigonBank) and Capital Aid for Employment of the Poor Microfinance Institution (CEP) on June 27 clinched a comprehensive cooperation agreement to provide financial services for workers. Vu Quang Lam, acting chairman of the Board of Directors at SaigonBank, said at the signing ceremony that the deal is aimed at making the provision of financial services for workers, who are also CEP’s clients, convenient and cost-effective. SaigonBank will implement a series of incentive policies for CEP’s customers, such as offering them bank cards with the lowest annual fees on the market, a CEP loan disbursement fee exemption, and a cash withdrawal fee exemption at its ATM machines. CEP general director Nguyen Thi Hoang Van said the partnership between SaigonBank and CEP would better serve CEP customers. CEP is a non-profit Vietnamese microfinance institution that is active in provinces in southeastern Vietnam and the Mekong Delta. The mission of CEP is to help improve the living conditions of the poor and the poorest through the efficient, effective and sustainable provision of microfinance services. Global protection sought for Vietnam’s rice trademark  As Vietnam’s rice trademark is undergoing procedures to seek international protection, the result of the logo design contest will not be announced until next month, an official of the Ministry of Agriculture and Rural Development said. Le Thanh Tung, head of the southern representative office of the ministry’s Department of Crop Production, told The Saigon Times that the contest winner has been chosen. According to Tung, to have the rice trademark protected, Vietnam has filed an application with the Madrid System, a system for the registration of trademarks worldwide governed by the Madrid Agreement and the Protocol relating to the agreement. A single application with the system enables a trademark owner to obtain protection in member countries. The ministry has formulated regulations concerning the use of the Vietnamese rice trademark, requiring individuals and organizations to meet particular requirements to use the trademark, Tung stated. In particular, as Decision 1499/QD-BNN-CBTTNS issued this year stipulates, individuals and organizations can use the registered trademark when granted business registration certificates or investment certificates that include rice production, processing and trading. Individuals and organizations must be certified to satisfy food-safety requirements for rice processing, preservation and trading, or they must obtain one of the following certificates: good manufacturing practice, hazard analysis and critical control points, food safety management system ISO 22000, international food standards, global standard for food safety, food safety system FSSC 22000 or equivalents that are still valid. They must have rice products certified to meet Vietnamese standards, fulfill tax obligations and work to protect the environment. Rice products that have been certified include white rice, jasmine white rice and glutinous white rice. Regarding product quality, rice bearing the Vietnamese rice trademark must comply with national quality standards, with white rice meeting TCVN 11888:2017 requirements, jasmine white rice meeting TCVN 11889:2017 requirements and glutinous white rice meeting TCVN 8368:2010 requirements. If there is a change to quality standards, rice products must meet the updated standards. Under Decision 1499 of the ministry, individuals and organizations can use the rice trademark and their own brands for packaging, advertising and trading certified rice products. They can also exploit, use and enjoy other economic benefits that arise, and participate in rice trademark promotion activities. However, individuals and organizations are obliged to use the trademark only on certified rice products, to ensure product quality, to inform the trademark management unit if they no longer need to use the trademark, and to pay any related fees. SaigonBank, CEP sign financial service deal to benefit workers The Saigon Bank for Industry and Trade (SaigonBank) and Capital Aid for Employment of the Poor Microfinance Institution (CEP) on June 27 clinched a comprehensive cooperation agreement to provide financial services for workers. Vu Quang Lam, acting chairman of the Board of Directors at SaigonBank, said at the signing ceremony that the deal is aimed at making the provision of financial services for workers, who are also CEP’s clients, convenient and cost-effective. SaigonBank will implement a series of incentive policies for CEP’s customers, such as offering them bank cards with the lowest annual fees on the market, a CEP loan disbursement fee exemption, and a cash withdrawal fee exemption at its ATM machines. CEP general director Nguyen Thi Hoang Van said the partnership between SaigonBank and CEP would better serve CEP customers. CEP is a non-profit Vietnamese microfinance institution that is active in provinces in southeastern Vietnam and the Mekong Delta. The mission of CEP is to help improve the living conditions of the poor and the poorest through the efficient, effective and sustainable provision of microfinance services. Food safety remains major concern at wholesale markets Controls for food safety and the traceability of products sold in wholesale markets is not tight enough, as market management boards have yet to fulfill their duties, heard a seminar on the development of wholesale markets in Vietnam, held in Hanoi on June 27. As of last year, Vietnam had only 83 wholesale markets, making up nearly 1% of the 8,500 traditional markets in the country. However, the trading practice has largely been limited to traditional methods, with traders paying little attention to quality control. Dao Ha Chung, chairman of the HCMC Hi-Tech Association, was cited by news website Vietnamplus as saying that the relevant agencies find it hard to manage goods traded in wholesale markets. He proposed enhancing controls over vehicles transporting goods to these markets to ensure food safety. In addition, wholesale markets should make prices transparent, regularly assess the quality of products, take steps to reduce waste and invest in traceability systems, he added. Ricardo Lopez Pietsch, a representative of Spain’s Mercasa Group, which manages 23 wholesale markets in Spain, shared his experience, noting that wholesale markets should help farmers understand consumers’ demands to produce standard goods. Markets in Spain also have warehouses, cold storage facilities and dedicated areas for support services. Inspectors are present at markets to make sure that products meet prevailing food safety requirements, Ricardo stated. Vu Duy Dong, director of the Domestic Market Department under the Ministry of Industry and Trade, emphasized the management of wholesale markets, adding that it is necessary to ensure food safety in wholesale markets and to provide traders with essential knowledge. Nguyen Van Hoi, deputy director of the department, noted capital as a major obstacle hindering the development of wholesale markets, claiming that investment in these markets is high, at VND40 billion each on average, while the State budget is limited, and it is hard to tap private resources. In addition, most foreign firms want to develop modern trade facilities in large cities rather than traditional markets. The lack of incentives to support investors and the small space for goods storage, parking lots and internal roads in wholesale markets have also hindered the development of these markets. Moreover, trade support services such as banking, insurance, product quality evaluation, classification, packaging, preservation, consulting, market information provision, advertising and accounting have not been provided at wholesale markets. Land ownership should be assigned to households, individuals: VFCEA Although the land law has undergone multiple revisions, it still contains inadequate regulations, so the Vietnam Federation of Civil Engineering Associations (VFCEA) has recommended handing over land ownership to households and individuals. Early this year, the Ministry of Justice was told to seek comments and amend inadequate, overlapping regulations concerning access to land by people and enterprises for their production and business investments. The Ministry of Justice and the Vietnam Chamber of Commerce and Industry on June 27 held a seminar on land access by people and enterprises to collect comments in preparation for amending the law, even though it was revised only five years ago. Tran Ngoc Hung, chairman of the VFCEA, proposed amending the law in a way that gives land ownership rights to households and individuals. This, Hung said, will directly affect millions of households and help avoid problems arising from land disputes, compensation and clearance. Lawyer Truong Thanh Duc noted that the problem lies in the ownership of assets. In reality, people can buy and transfer assets, which is a way of exercising their rights, but the transfer of land use rights, as it is currently worded in the law, does not make sense. Similarly, the mortgage of land use rights is by nature a land mortgage, and it is impossible to separate the two. According to Hung, if such points are not amended, inadequacies will remain. For instance, there is a regulation that allows the State to recall land in case of necessity for national defense, security and socioeconomic development purposes. However, the cases of necessity are not clear, especially when it comes to the construction of industrial parks, economic zones, export processing zones, new urban areas, offices of State agencies and relics. According to Hung, the construction of offices of State agencies, relics, scenic spots, squares and statues are not really necessary, and some interest groups tend to take advantage of gray areas to establish projects that benefit them, particularly urban area projects with land recalls. Startups should map out plans to go global: experts Domestic startups should promptly draw up detailed action plans to expand to international markets, consulting experts advised at a forum titled, “Connecting Vietnamese startups at home and abroad,” in HCMC. During the project presentation of startups within the framework of the forum held on June 27, experts said Vietnamese startups should make careful preparations to seek capital and attract investors. Local startups are currently mainly developing products and seeking local customers. Meanwhile, the connection of startups with finance and intellectual property experts across the world remains modest. Only startups that have received foreign investments have opportunities to access finance and corporate administration consulting experts and companies. Startups should prepare information on their rivals, the market scale and their objectives before calling for investments. Shlomo Nimrodi, CEO of the Ramot Business Engagement Center at Tel Aviv University in Israel, commented on the Ekid Studio project, which was presented at the forum, noting that the project developer should focus on its specific tasks, such as teaching language by applying technology. However, Patrick Nguyen, founder of Ekid Studio, explained that his company does not operate as a language teaching facility. Instead, it will specialize in augmented reality in the education sector. In reality, some startups have high-quality products and services that meet the demands of customers in some cities such as HCMC and Hanoi. However, they have encountered multiple obstacles in expanding to other markets. At the forum, Thach Le Anh, cofounder of Vietnam Silicon Valley Accelerator, agreed that some startups cannot seek capital despite the good quality of their products, while the number of venture funds in Vietnam is modest. In 2016, investment in domestic startups totaled US$100 million, well below the US$1.5 billion poured into startups in other Southeast Asian countries. Vietnam’s tourism brought closer to Czech people Vietnam’s popular tourist attractions and unique traditional arts were spotlighted at a tourism promotion programme held in Prague, the Czech Republic on June 27. The event was organised by the Vietnam National Administration of Tourism (VNAT) in collaboration with the Vietnamese Embassy in the Czech Republic, the national flag carrier Vietnam Airlines, and Vietnamese travel firms in the host nation. This is the final stop of the Vietnam Tourism Roadshow Europe 2018 which has travelled through Sweden, Austria and Hungary. Highlighting the traditional friendship between Vietnam and the central European country, VNAT General Director Nguyen Khac Tuan stressed that both sides pose huge potential for tourism cooperation. Vietnam welcomed only 1 million foreign visitors in 1995 but the figure is forecast at 16 million this year, including 2 million European holiday-makers, Tuan said, adding that however, only 17,000 of them come from the Czech Republic. This is a modest figure when Vietnam’s tourism has many things appealing to Czech visitors like beautiful beaches along its 3,000km of coastline, a stunning Ha Long Bay, gigantic Phong Nha-Ke Bang Cave, and unique orchard gardens in the south, he noted. On the sidelines of the event there were meetings between Vietnamese and Czech tourism agencies, which served as a bridge for them to seek cooperative opportunities. VNAT General Director Tuan and deputy chairman of the Association of Czech Travel Agents Jan Papez told Vietnam News Agency’s reporters that Vietnamese and Czech tourism products all satisfy demands of tourists from both countries. However, they said that visa procedures, the absence of direct flights between Hanoi or Ho Chi Minh City and Prague as well as weak promotion campaigns are the main barriers for bilateral cooperation. Manufacturing firms perform better in Q2 Up to 82.6 percent of the processing and manufacturing enterprises said they enjoyed a more stable and better business operation in the second quarter of the year, according to the General Statistics Office of Vietnam. The foreign direct investment firms have the highest business confidence with 85.7 percent believing that their business improved and stabilised during April-June. Meanwhile, the percentage for state-owned and private companies was 80.8 percent and 81.6 percent, respectively. In stark contrast, 17.4 percent of the firms said that they had to struggle more than the previous quarter. Competitiveness was touted as the dominant factor that left enormous impacts on production and business activities. According to the statistics office, 59.4 percent of the firms said that they were affected by competitive edge while 46.2 percent believed that underperformed business was spurred by low demands in the domestic market. Financial issue, shortage of qualified labourers, high deposit rate, lack of materials, and out-of-date technology and equipment were the other factors challenging local businesses in the period. Regarding volume of orders, 82.8 percent of the firms reckoned that the number would be higher than the previous quarter while 17.2 percent said that they would face less orders than the previous quarter. Up to 84.8 percent of the enterprises affirmed that they had more orders from overseas market. Product inventory was reported to decrease or remain stable among 81.7 percent of the domestic companies. However, the statistics department said that businesses have more positive outlook for their business prospects in Quarter 3 with 88.5 percent of the firms upbeat about their performance. The statistics were compiled based on the latest survey on the quarterly business performance trend of 6,500 industrial processing and manufacturing companies in 63 provinces and State-run cities. Programme promotes Vietnamese localities in France The Vietnam Provincial Roadshow in France took place in Paris from June 25-27, as part of activities to mark the 45th anniversary of bilateral diplomatic ties and five years of the Vietnam-France strategic partnership. The event, jointly held by Vietnam’s Ministry of Foreign Affairs, Embassy in France and the Permanent Delegation of Vietnam to UNESCO, attracted the participation of officials of Hanoi, the Mekong Delta city of Can Tho, and central Phu Yen and Quang Ngai provinces, ministries, sectors and businesses of involved localities. Vietnamese Ambassador to France and Head of the Vietnam Permanent Delegation to UNESCO Ambassador Tran Thi Hoang Mai also joined activities of the Vietnamese delegation. Within the framework of the programme, the delegation held working session with Deputy Chief Executive Officer of the French Development Agency (AFD) Philippe Bauduin, President of the Regional Council of Ile-de-France Valérie Pécresse, and Director General of the union of French cities (Cites Unies France – CUF) Geneviève Sevrin. They attended a workshop on intensifying Vietnamese-French locality partnership, and another on regional planning and construction experience of Paris capital, met with representatives from French localities such as Ile-de-France, Bordeaux, Val-de-Marne, Poitiers and Cergy-Pontoise and major businesses including Vinci, Dassault Systemes, Pollutec, Seche Environnement, and JCDecaux, and visited several health clinics and waste treatment facilities in Paris. During these events, both sides spoke highly of positive development in the bilateral strategic partnership, in which cooperation at the local level and people-to-people exchange are an important cooperation pillar that need to be enhanced. At present, 38 French localities have set up cooperative ties with 18 Vietnamese provinces and cities. The two sides agreed to coordinate in organising the 11th Vietnamese-French locality cooperation conference in France’s Toulouse city in April 2019, maintain successful cooperative models such as Hanoi – Ile-de-France, Hanoi – Toulouse, Hai Phong – Brest, Lao Cai – Aquitaine, Hue – Aquitaine, Yen Bai – Val de Marne, Can Tho – La Seyne-sur-Mer, and encourage the establishment of new pairs of localities. Along with such traditional cooperative fields as health, education, water-environment, heritage preservation and sustainable rural development, it is necessary to expand collaboration to new areas like smart city building and digital economy, they said. The French side committed to maintaining ODA provision for Vietnam, while appreciating the role of Vietnamese localities in successfully carrying out France’s ODA projects in Vietnam. On this occasion, Chairman of the Hanoi People’s Committee Nguyen Duc Chung and President of the Regional Council of Ile-de-France Valérie Pécresse signed an action programme of the two localities for 2018-2021. The Vietnam Provincial Roadshow is an effort by the Foreign Ministry to coordinate with Vietnam’s representative offices abroad in helping Vietnamese localities tighten their cooperation with foreign partners. Dong Nai enjoys over-1-billion USD trade surplus in H1 The southern province of Dong Nai enjoyed a trade surplus of over 1 billion USD in the first six months of 2018. According to the provincial People’s Committee, the total export turnover of businesses in the locality exceeded 9 billion USD in the reviewed period, while the import value was 7.95 billion USD, year-on-year rises of 12.6 percent and 7.12 percent, respectively. The province’s main exports recorded significant growth, including footwear (7.19 percent), garment and textiles (4.49 percent), textile fibre (17.7 percent), machinery and components (15.05 percent), iron and steel products (21.6 percent), and computer, electronic products and spare parts (37.8 percent). The committee said that the growth was attributed to stable world economy, favourable export markets, more orders from abroad, and increases in export prices of several commodities. Dong Nai’s main export markets were the US, the European Union, the Republic of Korea, China and Japan. Meanwhile, businesses in the province mainly imported products from China, the Republic of Korea, and Taiwan (China), which accounted for 50 percent of its import turnover. The locality mainly imported fabric, fibre, footwear materials, chemicals, iron and steel. To achieve the target of 18.3 billion USD in export turnover this year, the province will intensify assistance for businesses, especially small- and medium-sized enterprises and startups, and build a mechanism to encourage businesses to invest in rural agriculture. More efforts will be taken to improve the investment environment, speed up administrative reform, and create favourable conditions to promote products and trademark and raise export value, particularly for agricultural products. SaigonBank, CEP sign financial service deal to benefit workers The Saigon Bank for Industry and Trade (SaigonBank) and Capital Aid for Employment of the Poor Microfinance Institution (CEP) on June 27 clinched a comprehensive cooperation agreement to provide financial services for workers. Vu Quang Lam, acting chairman of the Board of Directors at SaigonBank, said at the signing ceremony that the deal is aimed at making the provision of financial services for workers, who are also CEP’s clients, convenient and cost-effective. SaigonBank will implement a series of incentive policies for CEP’s customers, such as offering them bank cards with the lowest annual fees on the market, a CEP loan disbursement fee exemption, and a cash withdrawal fee exemption at its ATM machines. CEP general director Nguyen Thi Hoang Van said the partnership between SaigonBank and CEP would better serve CEP customers. CEP is a non-profit Vietnamese microfinance institution that is active in provinces in southeastern Vietnam and the Mekong Delta. The mission of CEP is to help improve the living conditions of the poor and the poorest through the efficient, effective and sustainable provision of microfinance services. RMIT co-hosts conference on Connectivity in Asia RMIT University Vietnam, in collaboration with Zhejiang University in China and Inha University in South Korea, co-hosted the “Connectivity in Asia: Trade, Transport, Logistics and Business” conference on June 25 and 26 at the university’s Saigon South campus. The conference was attended by more than 100 keynote speakers, presenters, and delegates from countries including Indonesia, China, the Philippines, South Korea, Thailand, Taiwan, Japan, Malaysia, Singapore, Sri Lanka, Austria, and Australia. RMIT Vietnam President Professor Gael McDonald said RMIT Vietnam was extremely happy to host the event. “The forum was organized to explicitly explore the views of industry experts, policymakers, and academics on the issues surrounding the region’s logistical challenges,” Professor McDonald said. The conference covered topics that play a vital role in Vietnam’s economy, as the country’s growth is fuelled by greater regional and international integration and collaboration, Professor McDonald added. “According to a World Bank estimate, Vietnam’s logistics costs currently account for 20.9 per cent of GDP, compared to China’s 19 per cent, Thailand’s 18 per cent, Japan’s 11 per cent, and the EU’s 10 per cent.” “At a recent national logistics forum, Prime Minister Nguyen Xuan Phuc stated that high logistics costs were one of the hurdles obstructing the national economy’s competitiveness in a highly-connected and integrated trade environment. He emphasized that efforts to lower logistics costs need attention, particularly as Vietnam increases its participation in major free trade agreements.” Professor McDonald stressed that cutting logistics costs to 16-20 per cent of GDP by 2025 while raising its GDP contribution to 8-10 per cent requires additional effort to reform and simplify administrative procedures to improve the business climate. “There were 63 papers presented by contributors from at least 13 different countries, as well as many other participants,” she said of the conference. “Together they explore the current challenges in logistics and hopefully provide a more enlightened road ahead.” Startup forum connects domestic and international businesses More than 400 local and international delegates took part in the Forum ‘Connecting Vietnamese Startups at Home and Abroad’ on June 26, co-held by the Ministry of Foreign Affairs and the Ho Chi Minh City (HCMC) People’s Committee. According to Doctor Nguyen Ky Phung, Deputy Director of the HCMC Department of Science and Technology, within two years from 2016, the city spent around $90 million for startup activities, including over $45 million for technology development.| At the moment, HCMC has more than 350,000 enterprises, averagely contributing 22 percent to the gross domestic products (GDP), one-third of the industrial output, one-third of the total income of the national budget, and one-fourth of the total national exports. Regarding the gross regional domestic products (GRDP), the service, industry & construction, and agriculture sectors account for 58.26 percent, 24.78 percent, and 0.81 percent, respectively. As to the scientific and technological potential, HCMC now owns a high-tech park, a high-tech agricultural area, the Quang Trung Software City, the Biotechnology Center, the Institute for Computational Science & Technology, 45 universities, 30 colleges, over 125 laboratories, and 270 scientific and technological organizations. Compared to the whole nation, the scientific and technological resources of HCMC make up 25 percent, the existing businesses, startups, and scientific & technological enterprises account for 50 percent, 42 percent, and 15 percent respectively. There are over 760 private groups / startup organizations in various fields, making up more than 42 percent of the total number of national startups, 46 percent of which are now taking part in supportive programs in the city. 222 startups (accounting for 63 percent) have been in the incubation stage at 10 state incubator centers since 2011, while 49 percent of startups have successfully found their financial sponsor, and 70 percent are entering the first stage of the seed-funding, series A. According to politburo member and Secretary of the municipal Party Committee Nguyen Thien Nhan, although HCMC has a number of advantages, ranging from natural conditions to human resources, its weakness lies in the administrative role of the government, the implementation of science and technology into real life, and the connection between businesses and scientists, all of which have existed for 40 years. He therefore, put forward two suggestions. Firstly, the development of the scientific and technological market should be enhanced, creating a healthy habit of businesses seeking scientists’ help and strengthening their relationship to exist in harmony. Another recommendation is that from the beginning, enterprises should strive to embed technology into their business operations. Meanwhile, technology people should learn about economic aspect to know how to identify the needs of the market and seek financial investment effectively. This would form an advantage for the development of any enterprise. Mr. Nhan shared his concerns over essential actions to help innovative startups, saying that startup activities or ideas do not necessarily belong to the wealthy ones only. Many Asian countries having a similar status like Vietnam, yet they are able to achieve impressive success thanks to their full preparation on technology and an effective financial connection. “There are many state programs for this”, he told the forum, “but only when scientists and entrepreneurs themselves consider such programs as their own to try their best can they enjoy success.” Mr. Nhan also expressed his wish to have more forums like this in the future so that new Vietnamese startup people have an opportunity to contact with successful ones. The forum also welcomed Permanent Vice Chairman of the HCMC People’s Committee Le Thanh Liem, many domestic and abroad speakers as well as businesses, and leaders of related ministries and departments in the country. Vinh Hoan's sales of value-added products to hit $20 bn by 2020 The Vinh Hoan Corporation has announced that an increase in sales of value-added products will contribute positively to its profit margin improvement strategy in the medium and long terms. In its annual report for 2017, Vietnam’s largest pangasius exporter announced that the total export value of value-added products reached nearly $8 million, increasing 2.4-fold against 2016, and that its share in total export value also rose to 3.5 per cent. In its development orientation, sales of value-added products are expected to stand at $20 billion by 2020, contributing around 10 per cent of total revenue. 2018 is expected to be another challenging year in terms of raw material supply due to a shortage of fingerlings and the impact of high demand in China. In order to protect its profit target, Vinh Hoan is implementing a sales strategy with a pricing level that is sufficient to offset any increase in raw material costs. The company expects positive results this year from its collagen and gelatin business after three years of market development. Vinh Hoan began producing and selling its collagen and gelatin lines in 2015, made using high-technology and maximizing the value of pangasius skin. Its Board of Directors (BoD) have evaluated the project as a success thanks to high technology, a good business model, and the efforts put into researching production and market development over the last two years. With 2017 revenue at VND157 billion ($6.8 million) and Vinh Hoan collagen making a profit in late 2017, the BoD believes the product line’s revenue will be no less than VND40 billion ($1.74 million) in 2018 and will grow faster in subsequent years. The company also aims to continue expanding its farming and production capacity, ensuring a high quality supply of raw materials, competitive production costs, and premium pangasius products that meet the standards of international certification bodies and the ever-increasing requirements of export markets. Vinh Hoan is now focusing on the construction of new farms and the expansion of processing capacity at its Thanh Binh factory. In early 2017, the company acquired a 100 per cent stake in the Thanh Binh Dong Thap Seafood JSC and began operations at the new catfish fillet processing factory, with capacity of 100 tons of raw materials each day. This was a strategic move to ramp up production capacity. The investment plan to increase capacity at the Thanh Binh factory to 150 tons of raw materials a day is expected to cost approximately VND100 billion ($4.37 million). A 220-ha farm in the Mekong Delta’s Long An province was opened in April and includes a hatchery that will provide sufficient fingerlings for fish farms. This, together with the application of innovations to processes and machinery, are expected to increase Vinh Hoan’s self-supply ratio by a further 40 per cent. Total investment for the farm is planned at VND220 billion ($9.6 million). There are also other small investments, including upgrading the collagen workshop, costing VND20 billion ($874,475), and upgrading and purchasing machinery and equipment for Vinh Hoan’s fish processing workshop, costing VND35 billion ($1.5 million). Its anti-dumping tax rate of 0 per cent in the US was maintained during the 12th and 13th administrative reviews. Along with the development of new markets, the company continued to use its existing competitive edge in the US, contributing to higher revenue and profit margins. Despite the scarcity of raw materials, the company managed to open two new markets - Nicaragua and the Czech Republic - contributing to a network of more than 350 customers in nearly 40 countries. Growth in market share has also been seen in strategic markets outside of the US, including 70 per cent in China, accounting for 10 per cent of total exports, while in Japan it has almost doubled and accounts for 2 per cent. Vietnamese solar project wins international award SolarBK's Solar Experience Space project picks up award in Intersolar 2018's "Outstanding Project Award" category. The IREX Energy JSC, a member of Vietnam’s SolarBK Holdings, last week attended Intersolar 2018, an international renewable energy exhibition. This is the fourth time IREX has presented “Made in Vietnam” renewable energy to the world as a “Tier 0” manufacturer. SolarBK’s Solar Experience Space (SES) project won an international award in Intersolar 2018’s “Outstanding Project Award” category. Intersolar is one of the leading events promoting renewable energy and is held annually, with the presence of many prestigious companies from around the world. Intersolar 2018 had more than 900 world renewable energy suppliers, with over 1200 participants from 150 countries around the world. The exhibition took place in Munich, Germany. Prior to that, IREX participated in the largest SPI (Solar Power International) exhibition in 2017 along with Intersolar for three years (2014, 2015 and 2016). It is the first Vietnamese renewable energy enterprise to reach the global market. At the exhibition, IREX took “Made in Vietnam” solar cells and PV panels with the spirit of “Tier 0”. Intersolar 2018 is also an important milestone for IREX on its journey to its Tier 1 target in 2020. Tier, a well-known ranking scale for trustworthy solar panel manufacturers, is issued and rated by Bloomberg New Energy Finance (BNEF) with three levels: Tier 1, 2, and 3. Tier 1 module manufacturers are those that have provided their own brand and own manufactured products to six different projects financed non-recourse by six different non-development banks in the past two years. These 1.5 MW+ deals must be tracked by a database, and the project location (sufficient to identify the project uniquely), capacity, developer, bank and module maker must be in the public domain. Based upon this criterion, only 2 per cent of renewable energy firms have achieved Tier 1, yet those have had such enormous impact on almost the entire market. Up until the third quarter 2017, only 33 firms were rated Tier 1 by BNEF. Unlike many firms in the world, IREX attends Intersolar 2018 as “Tier 0” - its own principle and one that has greatly contributed to helping IREX increase its sales to reputable partners. Many customers misunderstand Tier 1 as a product quality warranty, while it only rates commercial aspects. In fact, quality is measured by international certifications such as TUV and UL, which BNEF itself clearly indicates in reports relating to the issue. The principle of “Tier 0” is based on trust between people with the same mission and development goals. IREX is committed to meeting the product and service quality required by partners at a more competitive price than Tier 1 enterprises. In return, they have put their trust into IREX in the renewable energy community and expanded the circle of cooperation as much as possible. IREX has taken this principle seriously at Intersolar and gained credibility from international partners. TBS opens sole technology center and R&D center Shoe sole manufacturer expands production site in Binh Duong province in bid to tackle low localization rate in domestic footwear industry. The TBS Group officially opened the TBS Sole Technology Center and the R&D Center for Sole Manufacturing on May 11 at the Song Than 3 Industrial Zone in southern Binh Duong province. The two centers will focus on researching, developing, and supplying soles for TBS’s shoe manufacturing as well as researching and supplying compound materials for the sole manufacturing industry in general, from combining many raw materials to manufacturing semi-finished products used for compressed soles or EVA phylon. There is potential in Vietnam’s sole manufacturing industry, though most is currently produced by foreign enterprises. Despite Vietnam being in the Top 3 biggest manufacturers of footwear and second in terms of exports, value added remains modest as the localization rate for raw materials and auxiliary materials is only some 50 per cent. Many materials require high technology, including soles, which remains an issue, according to the Ministry of Industry and Trade. With an attitude that “If the world can do it, we can certainly do it,” Mr. Nguyen Duc Thuan, Chairman of the TBS Group, has set a target of mastering technology in the fashion industry. Focusing on the development of shoe sole technology is therefore a great strategy for TBS to fully master technology in the footwear industry. According to figures from the Vietnam Leather and Footwear Association, a pair of soles represents 15-25 per cent of the value of sports shoes, depending on the type of technology used, confirming just how important technology is in creating added value. With a sole factory built in 2002, TBS has mastered the technology of producing rubber soles and EVA phylon. With the addition of the two new centers, TBS will focus on the research, development and supply of a new line of sports shoes with IP Technology (Injection Phylon - technology injecting materials directly into the mold) and new compound materials for soles, to meet demand and stay abreast of development trends in the domestic and foreign footwear industries, especially in regard to soles for sports shoes. On a total area of 113,890 sq m and with advanced equipment and technology, the TBS Sole Technology Center is capable of supplying 32 million pairs of finished products, including EVA phylon, liner, cup insoles, and IP products, and about 20 million products from other materials, including compounds, which will contribute some 20 per cent of the TBS Group’s sales. In order to meet goals, being equipped with advanced technology and equipment is not enough. Over a period of many years, the TBS Group has built up a team of technicians who are knowledgeable about sole production technology but who are nonetheless few in number compared to the huge demand for the production of about 700 million pairs of sport shoes each year in Vietnam. This is a very specific industry where most foreign-owned factories, including joint ventures, do not intend to transfer technology to local factories. The team of technicians is sent by the TBS Group to provide training and attend many international programs on shoe sole technology. Though open since 2002, the first TBS sole factory in 2002 is still relatively young compared to major large corporations such as Pou Chen and Taekwang, Hwasueng, and Feng Hand, which have been in the business for more than 50 years. There are many immediate and long-term challenges, including rapid changes in technology that shorten product lifecycles, the expectation that the rapid development of Industry 4.0 technology will lower production costs and therefore retail prices, the increasing demand from import markets that may be difficult to meet, and, especially, environmental protection standards, which will easily impact on any company investing in technology without a long-term vision. AgroViet 2018 exhibition opens in Da Nang The 18th Vietnam International Agriculture Trade Fair (AgroViet 2018) opened in the central city of Da Nang on June 28. Organised by the Ministry of Agriculture and Rural Development, the AgroViet 2018 is themed “High-tech farm produces towards sustainable agricultural development”. The four-day event features nearly 200 booths, the fair will showcase equipment and machines in agricultural production and processing, veterinary medicine, pesticide, safe agricultural and aquatic products, as well as animal and plant varieties. It offers chances to boost international cooperation in agriculture, while connecting businesses and consumers, thus creating opportunities for enterprises to promote domestic market. The event also honour high quality agro-forestry-fishery and handicraft products, and introduce new technologies in agricultural production. The annual event, one of the biggest agriculture fair of Vietnam, draws 18 agricultural firms from Thailand. Speaking at the opening ceremony of AgroViet 2018, deputy head of the Agro Processing and Market Development Authority Vu Van Minh noted that Vietnam’s agro-forestry-fishery exports earned 15.6 billion USD in the first five months of 2018, up 9.9 percent from the same period in 2017. Ten Vietnamese agro-forestry-fishery products for export records values exceeding 1 billion USD, he said. VNN |
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