Social News 1/8 Thien Thanh firm's top leaders arrested Three top officials of the HCM City-based Thien Thanh Group Ltd Company were arrested yesterday for allegedly violating The Article deals with deliberate acts against the State's regulations on economic management, leading to serious consequences. The arrested persons are the company's Chairman of the board of directors Pham Cong Danh, 49; former Director General-cum-member of the board of directors Phan Thanh Mai, 43; and another former member of the board of directors Mai Huu Khuong, 31. They were also top managers at Viet Nam Construction Bank, a commercial bank with registered capital of VND3 trillion. On Monday, a day before they were arrested, State Bank of Thien Thanh Group Ltd Co is a subsidiary of the Thien Thanh Group, based in Drug-resistant tuberculosis cases surge in the capital The amount of people suffering from multidrug-resistant tuberculosis (MDR TB) in Ha Noi has spiked, according to the Ha Noi Lung Hospital. Back in 2011, the hospital received about 60 patients with MDR TB. This year, that number has increased to more than 160. The hospital's deputy director Vu Cao Cuong told the Kinh te & do thi (Economic and Urban) newspaper that each year more than 5,000 TB patients were being discovered in Ha Noi, with 80 per cent of them suffering from pulmonary tuberculosis. It was the main source of the disease's spread in the community, he said. Meanwhile, health experts have attributed the surge in MDR TB cases to the prolonged exposure of drugs to the bacteria which has led to multidrug-resistance. Patients were also failing to strictly adhere to prescribed treatments; either by stopping use of the drugs or not using them in the right quantities. Some patients found they showed signs of recovery after a period of using the drugs, causing them to stop use of the drugs, experts said. Additionally, patients may have become susceptible by inhaling traces of the multidrug-resistant bacteria from other patients, causing the bacteria to quickly develop in their bodies. Cuong said that TB treatment was expensive and MDR TB treatment was much more expensive, adding that the treatment could last for up to two years. MDR TB requires a different strand of drugs to be treated and carry a number of side-effects. The treatment would be more complicated and require closer supervision, he said. However, TB drugs for adults and TB vaccines for children were currently available free-of-charge, said Cuong, adding that patients received treatment based on the Directly Observed Treatment Short course. By the end of this year, the country could expect to be using a new drug to treat MDR TB patients, he said. Bear kept in captivity shifted to rescue centre A female bear, weighing 150 kilograms, was shifted from the The bear, which had been kept in captivity by a local man since 1999 when she was a cub weighing five kilograms, was voluntarily handed over to the Animals Asia Foundation provided free medical aid to help shift the bear to the rescue centre. This is the fifth case of a bear receiving medical aid from the foundation since early this year. ADB asked to aid The The proposal was made during a working session between local authorities and an ADB delegation on July 29. According to Lao Cai authorities, the funding will be used in the construction and upgrade of urban infrastructure, technical assistance and the enhancement of capacity in planning, infrastructure and work management, the development of urban transport network, and the improvement of clean water supply system and environmental hygiene. The Sa Pa urban development sub-project is part of an ADB-funded project on technical assistance for development of urban centres along the Greater Mekong Sub-region corridor, carried out in seven localities of three regional countries. Sa Pa in northern Lao Cai, and Mong Cai and Bac Giang cities in northern QuangNinh and Bac Giang provinces have been selected for the project. Defence ministry provides VND 8 bil for Agent Orange victims Despite the conflict ending in 1971 – four decades on – Vietnamese are still suffering from the devastating effects of Agent Orange sprayed on crops, plants and trees by US military forces. Sen. Lieut. General Ngo Xuan Lich, Chief of the Vietnam People’s Army (VPA) General Political Department, made the statement on July 30 during a working session with the Vietnam Association for Victims of Agent Orange/Dioxin (VAVA) representatives. “VAVA has set up offices in 59 provinces nationwide with more than 325,000 members in total,” he said. “Over the past forty some odd years, the Party, State and Government of Vietnam have offered numerous incentives for social policy beneficiaries, including victims of Agent Orange/Dioxin.” VAVA has received international advocacy support from over 500 organizations and individuals from 30 countries and territories around the globe for Vietnam’s lawsuit pending in the courts against 37 US chemical companies, who produced and provided chemicals for the US military’s use during the war, he said. Despite opposition from the courts, Vietnamese lawyers and international friends are also avidly demanding the US Government take on the humanitarian responsibility for cleaning up the environment in Annually, the Defence Ministry cooperates with the Ministry of Labour, Invalids and Social Affairs and other social organizations to grant aid to war veterans and families of those who rendered great service to the nation during the wartime. Lich asked VAVA to continue helping Agent Orange/Dioxin victims stabilize their lives and struggle for justice while seeking retribution under international law. On the occasion, the Defence Ministry also provided VND8 billion in support of VAVA and its efforts to help the victims of the deadly toxic overcome the consequences. Scholarships granted to The National Fund for Vietnamese Children (NFVC), in collaboration with the Hanoi People’s Committee, on July 29 presented scholarships worth VND3 million (US$141) each to 170 outstanding students living in difficulties in the city. At the event, Vice President Nguyen Thi Doan, who is also NFVC President, appreciated The municipal fund for children has to date mobilised VND5.8 billion (US$272,600), which have been used effectively for charitable activities. It has given bicycles to 80 students with good performance in study, provided free surgery for 25 hare-lipped and cleft palate children, and equipped seven kindergartens with toys. On this occasion, the Imex Pan Pacific Co. Ltd. donated VND500 million (US$23,500) to the fund. Japanese city provides aid to Phu Quoc island Japan International Cooperation Agency (JICA)on July 30 approved a US$40 million funding to help southern Kien Giang province implement a water supply and waste treatment project in Phu Quoc island. Construction of the project is being made pursuant to a cooperation agreement signed the same day in Phu Quoc island district between Kien Giang province and Signatories to the agreement were Kien Giang provincial People’s Committee Vice Chairman Le Khac Ghi and Kobe Vice Mayor Satoshi Toorii. Under the terms of the cooperation agreement, construction of a water plant will be built in Cua Can commune next year, with a designed capacity of 20,000 cubic metres per 24 hours. The project is expected to stimulate greater cooperation between businesses, especially in the fields of the environment, water supply, waste treatment, agriculture, and tourism. Takahiro Morishita, an official from VAVA urged to continue demanding justice for AO victims A senior military official has hoped that the Association of Victims of Agent Orange/Dioxin (VAVA) will pursue the struggle for justice for local AO victims on the basis of international law. Sen. Lieu. Gen. Ngo Xuan Lich, permanent member of the Central Military Commission and head of the General Department of Politics of the Vietnam People’s Army (VPA), expressed the hope at a working session with VAVA representatives in In recent years, the Ministry of Defence has worked with the Ministry of Labour Invalid and Social Affairs in proposing to the Party and State mechanisms and policies in support of AO-infected war veterans and their relatives, he said. Domestic and foreign organisations and individuals have taken a range of activities to help them enjoy a better life, he added. According to VAVA, over the last decade, the association has established its branches in 59 provinces and cities across the country with over 325,000 members. It has also set up funds in 33 localities and 24 rehabilitation centres in 20 provinces and cities. It has raised nearly 718 billion VND (34 million USD) in and outside the country to repair and build houses, grant scholarships, generate jobs and offer storm relief for AO victims and their families. The association has partnered with 500 organisations and individuals from 30 countries worldwide to aid its lawsuit against 37 Public opinions in and outside the country have forced the From 1961-1971, US troops sprayed more than 80 million litres of herbicides - 44 million litres of which were AO that contained nearly 370kg of dioxin - over southern Vietnam. As a result, around 3.5–4 million Vietnamese people were exposed to AO/dioxin. Many of the victims have died, while millions of their descendants are living with deformities and diseases due to the effects of the chemical. Kien Giang schools teach ethnic minority languages As many as 26 primary and nine secondary schools in the Mekong Delta Most of the schools are in districts and towns where there are large communities of ethnic minorities. The ethnic language classes have been underway since the 2004-2005 school year to help the youngsters study and promote their ethnic culture-art values and traditional customs, according to the provincial Department of Education and Training. In addition, many local TV stations have broadcast programmes in ethnic languages, while other forms of media are also striving to reach out to the ethnic minority audience. The Vietnam News Agency (VNA), for example, has published a monthly bilingual pictorial magazine – the Dan Toc va Mien Nui (Nationalities and Mountain) - in eight ethnic minority languages, which are Khmer, Bhana, Jrai, It plans to issue three more bilingual versions of the pictorial magazine for ethnic minority readers as from 2015.- Training programme for Vietnamese children with hearing loss A training programme for children with hearing loss held at the Thuan An Centre for Disabled Children in southern Binh Duong province has helped many children develop their listening and spoke language skills. Director of the centre Nguyen Thanh Thu Thuy said through the Global Foundation for Children with Hearing Loss funded by the The Thuan An Centre is providing training for nearly 400 hearing impaired children and one-fourth of them attending the programme, which brings a high hope for them. The Foundation is a non-profit organisation designed to provide resources to children with hearing problems. The Foundation and the Thuan An Centre have jointly organised the programme since 201.0 On July 29, Modern patrol ship added to fisheries surveillance fleet The The 90.5m-long ship, coded KN-782, was built by the Ha Long Shipbuilding Co., Ltd. since October 2012. It has a displacement of 2,500 tonnes and a maximum speed of 21 nautical miles per hour. The vessel is also equipped with large fuel and water storages, modern rescue and medical equipment along with other advanced features. Vice Chairman of the Quang Ninh People’s Committee Do Thong said a powerful fisheries surveillance force will help better safeguard the nation’s sovereignty and support fishermen at sea. On June 30, the Ha Long company handed over the ship KN-781 with similar design features to the Vietnam Fisheries Resources Surveillance Department.- Workshop aims to enhance anti-corruption efficiency Accelerating administrative reforms, perfecting State budget use standards and norms, and building methods to control civil servants’ assets are measures to ensure the feasibility and increase the efficiency of corruption prevention. The measures were put forth at a workshop organised by the National Assembly’s Judicial Committee in the central Participants stressed the need to ensure transparency in the operation of agencies and units in charge of corruption prevention, supervise civil servants’ implementation of codes of conduct and professional ethics, and strictly handle detected corruption cases. Heads of agencies must take responsibility for any corruption cases that happen in their agencies, they said, adding that measures should be taken to protect those reporting corruption behaviours. To make anti-corruption work effective, it is necessary to build a synchronous legal system in line with the reality and international conventions to which Last year, competent agencies took legal proceedings against 233 corruption cases involving 568 people, increasing 11 cases and 97 people compared to 2012. As many as 335 cases with 803 defendants were prosecuted during the year, up 91 and 202 respectively. Home vegetable gardening gains traction in Hanoi Many people in Even though many families in The rooftop garden has become especially popular because they can be contained inside plastic boxes or even unused pipes. The people grow the plants hydroponically for conveniences and hygiene. The cost to build and maintain a mini-garden can easily exceed buying vegetables on the market. However, more and more consumers are putting growing their own vegetables anyway because of their health concerns about bought produce. Nguyen Minh An, a resident of Ha Dong District, has spent VND4 million (USD190) to set up a garden of a little more than 2 square metres. In this garden, she grows about 13 kinds of vegetables, including onions, lettuce and water spinach. An also grows lemon and guava. An said, "After a good harvest I keep some in the fridge or share with neighbours. Some I use to feed the chickens." Some companies provide water systems for indoor gardens. The water and nutrients are pumped evenly to all receptacles, and can even adjust to weather conditions. According to several experts, the rise of indoor gardens indicates how little credibility the produce market has among consumers. Minimum wage rise of 23 % proposed for next year The The proposal was shared by Nguyen Tien Dang, head of the salary division under the ministry’s Labor and Salary Department on the sidelines of a meeting organized by The monthly minimum salary for Zone 1 would reach VND3.32 million next year if the proposal is approved. The confederation made the suggestion after it conducted a survey of nearly 1,900 workers at industrial parks. The survey showed 7.9% of respondents said their incomes are not enough for their daily expenses while 39% said they must tighten spending. Among the respondents, 41.2% said the current wage is just enough to feed themselves and only 11.9% said they could save some money after all expenses are deducted. According to the survey, the average monthly wage is VND3.667 million per worker but they actually get VND3.14 million as many enterprises have owed wages and insurance payments to their employees. This average income is lower than the average spending of VND3.905 million for a worker with children. However, Dang said many employers suggested keeping the current minimum wage unchanged or increasing it by only 12% due to economic difficulties. Ninh Binh looks to become national tourism center The PM has passed a master urban planning scheme for Ninh Binh city through 2030 with a vision to 2050 with an aim to develop the city into a national-level hub of culture, history and tourism. A corner of Trang An national tourism site Under the newly-approved scheme, Ninh Binh city will be expanded with a total area of 21,052 hectares and a population of around four millions by 2030. The city is home to a number of old tourist landscapes, including Hoa Lu ancient capital, famous tourist sites like Trang An, Tam Coc-Bich Dong, primeval forest which will be developed into the core zones. The Trang An national tourism site and the spiritual tourism complex of Bai Dinh Pagoda will be upgraded, according to the scheme. The city will also develop rural ecotourism, traditional trade villages, and waterway to connect tourist sites. Source: VNN/VNA/VNS/VOV/SGT/SGGP/ND |
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HA NOI (VNS) - Overseas remittances to Head of the State Bank of Minh saw the increase as a positive sign because the peak remittance season hadn't begun yet. In the first six months, the remittance volume through the banking system in Market observers in the City said that recipients of overseas remittances were getting less interested in securities, deposits and gold due to the low profit of 0.25 to 1 per cent annually, which was a result of the Government's policy in the last two years to discourage people from hoarding the dollar. To ensure a substantial recovery, recipients are likely to invest in the property market which the Government's housing packages are designed to support. In 2013, about $4.8 billion was transferred to Last year, |
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Political News 1/8 Vietnamese agencies work to ensure safety for citizens in Libya The Ministry of Foreign Affairs is coordinating with the Ministry of Labour, Invalids and Social Affairs and Vietnamese representative agencies in Foreign Ministry Spokesperson Le Hai Binh told reporters at a regular press conference in He said some 1,550 Vietnamese are working in The Foreign Ministry had earlier directed Vietnamese representative offices to keep a close watch and coordinate with local relevant agencies to support and protect the Vietnamese citizens. The Vietnamese Embassy in The embassy has also set up two hotlines - +00218 926 903 041 and +00218 923 654 587 – which are available round the clock for the Vietnamese citizens in Action plan aims to increase transparency in ODA use Prime Minister Nguyen Tan Dung has approved an action plan on improving the implementation of projects and programmes using official development assistance (ODA) and preferential loans in the 2014-15 period. Under the plan, the Ministry of Planning and Investment will be responsible for devising a project on attraction, management and use of ODA capital and preferential loans from 2016 to 2020. The ministry will review ongoing ODA-funded projects and programmes as well as consider those expected to use ODA and soft loans in order to ensure that they do not exceed the public and government debt ceiling approved by the National Assembly. These projects are expected to be submitted to the Government in the last quarter of 2015. The PM also assigned relevant ministries and sectors to perfect the legal system and mechanisms on ODA and preferential loans, while enhancing their capacity in managing and implementing projects. They have been asked to increase transparency, prevent corruption and enhance supervision and assessment work. The Ministry of Natural Resources and Environment will build a circular instruction site clearance process, while relevant ministries will collaborate with donors to review all projects, programmes and bidding packages and then propose specific measures to ensure transparency in project management. Government moves to protect people’s life Minister and Chairman of the Government Office Nguyen Van Nen hosted a post-government regular meeting press conference in When asked about the fighting in Prime Minister Nguyen Tan Dung has assigned the Ministry of Labour, Invalids and Social Affairs to work closely with the Ministry of Foreign Affairs to watch over the situation and get ready to evacuate the workers and ensure their absolute safety, Minister Nen said. Regarding the organisations and individuals relating to the repeated breakdown of the water pipelines linking with the Da river, Nen affirmed the Government has directed relevant agencies, including the Ministry of Construction and the Meanwhile, Vice Governor of the State Bank of Vietnam Nguyen Dong Tien cleared queries concerning the Police Investigation Police’s detention of several executives of the Ho Chi Minh City-based realty Thien Thanh Group with one of them being the ex-leader of the Vietnam Construction Bank. Police has commenced legal proceedings against the case. Tien said the central bank has adopted support measures, including a plan to ensure the bank’s operation cannot be affected. People should believe in the measures taken by the Government and the State Bank, Tien said. Deputy PM Minh to attend ASEAN Meetings in Myanmar Deputy Prime Minister and Foreign Minister Pham Binh Minh will attend the 47th ASEAN Ministerial Meeting (AMM-47) and related meetings to take place in The related meetings include a meeting between ASEAN Post Ministerial Conference Plus One (PMC +1) sessions with ASEAN’s Dialogue Partners, the 15th meeting between ASEAN and three Northeast Asian nations (ASEAN Plus Three – APT), the fourth East Asia Summit’s Foreign Ministerial Meeting (EAS FMM-4) and the 21st ASEAN Regional Forum (ARF). The meetings will review recent cooperation within ASEAN, and between ASEAN and its partners, and discuss measures to boost future cooperation. They will also touch upon regional and international issues of mutual concern. Deputy PM Minh’s participation in these events shows Source: VNA/VOV/VNN |
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EVENTS SCHEDULED FOR AUGUST 1-10 (daily updated) Concert “Beethoven’s Symphony No 5″ Sat 09 Aug 2014, 8 pm HCMC Opera House One of the most famous symphonies of Beethoven called “The Destiny Symphony” will be performed at Hanoi Opera House by HBSO Symphony Orchestra, under the baton of talented conductor Le Phi Phi, with the performance of 2 pianists Boris Kraljevic and Le Ho Hai. Conductor: Le Phi Phi Pianist: Boris Kraljevic, Le Ho Hai Performer: Symphony Orchestra Program PART I: Claude Debussy Prélude à l’après-midi d’un faune Francis Poulenc Concerto for 2 pianos & orchestra in D Minor, FP. 61 Piano I: Boris Kraljevic Piano II: LE Ho Hai PART II: Ludwig van Beethoven Symphony No.5 in C Minor, op. 67 Tickets Ticket price: 400,000 – 350,000 – 200,000 – 80,000 VND (for students only) All tickets are available at: Ticket Counter, HCMC Ballet Symphony Orchestra and Opera, Booking and delivery: 08 3823 7419; Ms. Hương 0989874517; Mr.Luân: 0903041959 Online tickets at ticketbox.vn Berlinale Shorts Go Abroad in 08 and 09 Aug 2014, 7 pm Goethe Institut 56-58 Nguyễn Thái Học, Ba Đình, Hà Nội The Goethe Institute presents already for the second time the Berlinale Shorts in In the series “Berlinale Shorts Go Abroad” short films of the International Film Festival of Berlin go on a journey. Ten short movies were chosen to be shown in the Goethe Institute Hanoi at the 8th and 9th of August at 7pm. “The Berlinale Shorts are a forum for the short form in the festival. A place for uncompromising films, which take an undisguised look on the present. Filmmakers are artists, who are aware of the formal possibilities and furthermore have the whole picture of cinematography in sight. Berlinale Shorts are films, which go beyond the event and contribute to the understanding. At once around the globe and back. The beginning is everywhere and here and now.” Maike Mia Höhne, curator of the Berlinale Shorts, invites the hanoian audience: “Please come and see by yourself!” This year the short movies deal with very current topics. They range from surreal to real, from marvelous to cruel. The movies discuss a world which changes dramatically and endangers nature. This world forces nature to accommodate itself to it. To be ruthlessly and without morals. But the movies also talk about war and grief: How can you face them? How can you handle them? And what follows? A highlight of the programs is surely the movie “Three Stones for Jean Ginet” which has already won an award and which will be played on several festivals this year. It is about desire and promises, a city, a friendship and the narration of a hidden story. The Berlinale Shorts will be presented by the Goethe Institute in nine South-East Asian countries. For the first time they are welcomed by the Goethe Institute in Ho Chi Minh City Shorts in its cultural salon at the 15th and 16th of August at 7pm. The International Film Festival of Berlin, also well-known as Berlinale, is the major film festival in Berlinale Shorts in 8.08.2014, 7pm 1. Marc Jacobs 17 minutes/Director: Sam de Jong/Netherland A journey to the country of his ancestors – Marocco. But where does Soufiane really arrive? 2. SYMPHONY NO. 42 10 minutes/Director: Reka Bucsi/Hungary Animation film: How would it be, if animals were humans? 3. Birds 15 minutes/Director: Ulu Braun/Germany Birds in urban habitats – Quo vadis, bird? 4. A 14 minutes/Director: Jayisha Patel/Cuba A family is mourning the death of her son. The province is known for the tragic fact concerning the high suicide rate amongst youth. 5. Taprobana 24 minutes/Director: Gabriel Abrantes/Portugal, Sri Lanka & Danemark Taprobana, now known as Berlinale Shorts in 9.08.2014, 7pm 1. Smile, and the world will smile back 21 minutes/Director: B´Tselem/Israel & Palestin A night like so many nights in 2. The white roses 20 minutes/Director: Diogo Costa Amarante/Portugal & USA The memories of the mother are evoked by images enclosed inside Gabriel’s amulet. 3. Three stones for Jean Genet 7 minutes/Director: Frieder Schlaich/Germany There are places of yearning. There are promises that accompany us our entire lives 4. The big house 25 minutes/Director: Juliette Touin/Cuba A group of heavily pregnant women live in an old mansion in 5. Wonder 8 minutes/Director: Mirai Mizue/Japan & France Animation film: Music and sound, sequences of colour and movement. Language: Original Language, Vietnamese and English Subtitles. Screening of Film “Vive la Fri 08 Aug 2014, 8 pm L’Espace 24 Tràng Tiền, Hà Nội You are invited to the film screening “Vive la “They do not know where they put their feet on! A success of humor, good ideas and excellent replicas”. For more information about synopsis, please see L’Espace website (in French) or refer to the Vietnamese version of this post. Language: French with Vietnamese subtitle. Tickets: Ticket price: 40 000 VND Special price for members of L’Espace and students: 20 000 VND Tickets are available at L’Espace. Documentary Screening “Who Is William Onyeabor?” and DJ Set with Dan Lo Thu 07 Aug 2014, 8 pm ATK 73a Mai Hac De, This is a night to celebrate the Nigerian funk musician and band-leader, William Onyeabor, who had a series of records in the late 70s and 80s which exalted him into an iconic status in the history of Nigerian pop, often considered the founder of Nigerian electro Afro-funk. His biography has been shrouded in mystery due to his own refusal to discuss it or his music since becoming a born-again Christian in the middle of the 1980s and retiring to pursue a career as a businessman running his own flour mill. We will show the recent documentary about the mysterious man, Fantastic Man, and follow it up with a set from Saigon’s Afrobeat expert Dan Lo [The Observatory / Eclectic Aesthetic], who will be in charge of the decks all the night long, set to put William Onyeabor classics on alongside many other Afro hits, leading up to their influence on sounds of today. Entry VND 50,000 A Night of Concert and Ballet “Midsummer Night’s Dream” Wed 06 Aug 2014, 8 pm 1 Tràng Tiền, Hà Nội You are invited to a night of Concert and Ballet “Midsummer night’s dream” with the participation of: Artistic Director: PhD. People’s Artist Phạm Anh Phương Conductor: PhD. Meritorious Artist Nguyễn Thiếu Hoa Perform by: VNOB’s Symphony Orchestra, Choir and Ballet troupe Program F. Mendelsshohn Music from “Midsummer night’s dream” by W. Shakespeare Wedding March Nocturne Tchaikovsky Spanish Dance from ballet “Swan lake” Rossini Figaro’s kavatina from opera “Il barbiere di Siviglia” Soloist: Mạnh Dũng Rosina’s cavatina from opera “Il barbiere di Siviglia” Soloist: Thăng Long Soloist: Vành Khuyên Tchaikovsky Valse from ballet “Sleeping beauty” Handel Choirs from “The Messia” And the glory, Let all the angels of God, Amen, Halleluija Tchaikovsky Duo from ballet “Nutcraker” Intermission Ballet “Secret garden” Music: Sebastian Plano & Olafur Arnalds Choreography & Staging: Sasha Evtimova Video Animation: Predrag Milochevich Perform: Phương Thảo, Việt An, Như Quỳnh, Thu Huệ, Hải Ly, Văn Lương, Văn Đức, Văn Nam, Hàn Giang, Thành Công, Đình Thùy Tickets Ticket prices: 200000, 350000, 500000 VND. All Tickets available at Hanoi Opera House – 1 Trang Tien or can book over ticketvn@gmail.com For free delivery Call: 0913489858, 0983067996. Mosaic of a Century: Sat 02 Aug 2014, 8 pm Young Virtuosos Concert Series: Fri 08 Aug 2014, 7.30 pm Masterclasses series: 03 – 07 Aug 2014, 4.30 pm Ho Chi Minh Conservatory of Music Tel: (+84)38-243-774 Saigon Chamber Music 2014 is a festival and school that offers a week long of intensive training for young musicians, by a faculty of internationally acclaimed artists from the FESTIVAL SUMMARY MOSAIC OF A CENTURY: 8 pm – Saturday 2 August 2014 A piece of upholstery woven from the impressionist and romantic tone colours, accented with the sweet sorrow of the 20th century music. The programme includes works by Ravel, Kodaly, and Shostakovich, taking the audience on a journey to the depth of human soul. Programme: Ravel Trio in A minor for piano, violin and cello (1914) Modéré Pantoum (Assez vif) Passacaille (Très large) Final (Animé) Kodaly Duo for Violin and Cello op. 7 (1914) Allegro serioso, non troppo Adagio Maestoso e largamente ma non troppo lento – Presto Zoë Martlew “Salat Babilya” (Babylonian Prayer) (2008) Bjarne Brustad “Veslefrikk” from Fairytale Shostakovitch Trio no. 2 in E minor op. 67 for piano, violin and cello (1944) Andante Allegro con brio Allegretto Tickets: 100,000 ; 250,000 ; 300,000 VND YOUNG VIRTUOSOS CONCERT: 7:30 pm – Friday 8 August 2014 Celebrating the young talents of Saigon Chamber Music 2014, trained by the internationally acclaimed artists in the faculty. 20 young musicians have been selected from HCMC Conservatory, Tickets: 100,000 ; 150,000 VND THE MASTERCLASS SERIES (*): 4:30pm daily 3-7 August 2014 *** All workshops and masterclasses are free on first come first served basis. About 20 seats are available to the pulic. We reserve the right to refuse admission when seats are filled. Reserving a seat will guarantee admission. Sun 3 Aug: “Listening beyond the Dots” Mon 4 Aug: Piano and strings Masterclass Wed 6 Aug: Piano and strings Masterclass Thu 7 Aug: Tango and Improvisation Fish Sauce and Ngọt Debut Live Show Sat 02 Aug 2014, 8 pm ATK 73a Mai Hac De, Fish Sauce is the most flavoursome band to come through Mai Khoi (Song and Album of the Year, 2010) is joined by Araceli ( Totally out of the bowl, Fish Sauce marinates your mind, body and soul. Starting out the evening will be Sweet melody blends and indie folk harmonies, these are a rare act to find in our city. Let singer/guitarist Vu Dinh Trong Thang, bassist Ha Nguyen, guitarist Tuan Tran and drummer Nam Anh show you why they are already gathering a Beatles-esque following in We’re lucky to have them whilst they are still without bodyguards! Entry VND 80,000. Tickets can be picked up in advance to ensure entry. Graduate Fashion Show and Exhibition “Still Believing” of Sat 02 Aug 2014, 4 pm Grand Ballroom, Melia Hanoi Hotel 44 Ly Thuong Kiet Str, You are invited to Graduate Fashion Show and Exhibition “Still Believing” of By joining the exhibition, you will have a chance to: - Featuring collections from students in the Advanced Diploma: Designer/ Creative Merchandiser and Professional Diploma: Fashion Design & Technology - Investigate British fashion education technology, from concept to production - Meet directly with members of the LCFS staff, students and representatives from the - Visit the Style Zone to get personal style consultancy advice towards improving your look, as provided by our students - Participate in community activities “NEW CLOTHES FOR A NEW ACADEMIC YEAR” to help raise funds to produce new clothes for disadvantaged children living in poverty. - Register to see the Graduate Fashion Show 2014 featuring the final creations of the students in Fashion Designers/ Creative Merchandiser Programme at 7.30pm on 03rd August 2014 RSVP to Ms. Mai Trang or Ms. Hong Minh at (04) 3719 9706 or info@fashionstudies.com.vn Graduate Fashion Show and Exhibition “Still Believing” Sat 02 Aug, 3 pm till Sun 03 Aug, 10 pm No. 48 To Ngoc Van, Tay Ho, You are invited to the graduate fashion show and exhibition 2014 “Still Believing” with the participation of students in Fashion Design/ Creative Merchandiser department 2012-2014. Register for the Fashion Show to enjoy the creative collections by graduates on Sunday 03 Aug 2014 at 7.30pm Please contact (04) 3 719 9706 Or email: info@fashionstudies.com.vn to register for invitation Viet Pride 2014 – Together 01, 02 and 03 Aug 2014 In August 2012, Viet Pride the following year was a significant step in strengthening the movement and expanding the scope to include the Viet Pride scholarship and an employment equality campaign. This year, 2014, Viet Pride will be celebrated for the third time in Pride aims to raise awareness of sexual diversity and the right to love that every person regardless of their sexual orientation and gender identity is entitled to. Besides that, Viet Pride 2014 also puts a strong emphasis on forging the connection and solidarity amongst diverse LGBTQ groups from all over the country through a series of discussions and networking activities. These two directions of focus are much needed in the time and place where equality and dignity for people of sexual minorities are circumscribed by the language of culture, and the consensus, solidarity within the LGBTQ community is vital to lead the movement forward. The preparation for Viet Pride 2014 is being carried out with great excitement across the country, involving civil society organisations both in the North and the South of Vietnam, as well as foreign embassies, social enterprises, and the strategic partner of Viet Pride – the Goethe Institute. The organising committee also hopes to bring over LGBTQ organizations from overseas for exchange of good practices and transnational camaraderie. A great source of support comes from Civil Rights Defenders to put together the event and invite LGBTQ community leaders to Speaking of the development and remarkable progress of Viet Pride, Nguyen Thanh Tam, director of the project since 2012, said, “Viet Pride is making small, yet firm and consistent, steps in fostering social acceptance and respect that has been sorely lacking in the Vietnamese society. I am glad that in only three years, Viet Pride has grown to become an annual tradition and symbol of respect for diversity, with Vietnamese LGBTQ youth and allies quickly becoming the leading force. I also appreciate the fact that Viet Pride has proven to be not an isolated event or confined within Vietnam but part of the global LGBTQ movement that is changing the world in a way unimaginable just a few decades ago!” MAT CHI MAA – LGBT Live from Fri 01 Aug 2014, 9 pm 27/52 To Ngoc Van, The 3rd Vietnamese Gay Pride Festival – Viet Pride 2014 – this year brings a full live act from Support acts include the upcoming indie rock band Ngọt, followed by DJ. Entry: 100,000 VND. Exhibition “Today and Forever” Opening: Fri 01 Aug 2014, 5 pm Exhibition: 01 – 07 Aug 2014 66 Nguyen Thai Hoc Str, You are invited to the exhibition “Today and Forever – 2014″ by 21 artists and sculptors from Electronic Disco Night with Italian Artist Bottin Fri 01 Aug 2014, 10 pm The Observatory Corner of Le Lai and Ton That Tung, Dist.1, HCMC Come to an electronic Disco Night with Italian Artist Bottin. BOTTIN – “one of the finest purveyors of electronic disco around,” (Vice Magazine) – is once again hitting Listen to his music on Soundcloud. Supported by HIBIYA LINE (Optimist Club, The Observatory) Entry 100,000 VND. Opening of Viet Pride 2014 at Goethe Institut Grand Opening: Fri 01 Aug 2014, 5.45 pm Goethe Institut 56-58 Nguyễn Thái Học Ba Đình, Hà Nội Come to the opening of Viet Pride 2014 at Goethe Institut. Languages: English-Vietnamese Free Admission. While the campaign to legalise same-sex marriage in Under the theme ‘Together’, Viet Pride aims to sustain the momentum and solidarity amongst the diverse LGBT groups across the country, and also fostering the dialogues between LGBT community and strategic key partners including dedicated rights activists, supporting civil society organisations, relevant UN agencies and other allies in Built on the success of previous campaigns, the event this year offers a wide range of activities, opportunities and platforms to embrace the diversity and dynamics of the movement; promote unity and coordination within LGBT-serving groups; facilitate interaction and communication within community and among participants in a cosy, vibrant and colourful atmosphere. Through solidarity and understanding, Viet Pride aims to harness the energy and strengthen the voice of LGBT people. The event will take place over five days from August 01 to August 05 – with the capstone Viet Pride bicycle rally on Sunday August 03, an event celebrated widely in local and international media. Supporters are enthusiastically expecting a convoy of rainbow bikes, and volunteers with huge rainbow flags along the rally route in the centre of the capital. Such visibility carries the hope to gradually change the social attitude in Screening of “Paulette” Fri 01 Aug 2014, 8 pm L’Espace 24 Tràng Tiền, Hà Nội You are invited to the film screening “Paulette” (French, 2013, 87 mins) directed by Jérôme Enrico. This is “a modern comedy that explodes in all aspects.” For more information about synopsis, please see L’Espace website (in French) or refer to the Vietnamese version of this post. Language: French with Vietnamese subtitle. Tickets: Ticket price: 40 000 VND Special price for members of L’Espace and students: 20 000 VND Tickets are available at L’Espace. Viet Pride 2014 Line Up of Events in Viet Pride 2014 01 – 03 Aug 2014 Goethe Institute – 56-58 Nguyen Thai Hoc American Club – 21 Hai Ba Trung Puku – 16-18 Tong Duy Tan The 3rd Viet Pride Festival (Vietnamese Gay Pride Festival) will take place in The 3 days of Viet Pride 2014 will be celebrated with numerous activities centered on the subject of LGBTQ such as talks, conferences, film screenings… (many are on free admission basis). The capstone Viet Pride Bike Rally will be held on the 3rd day (August 3rd) followed by an outdoor party at American Club with free beer and music for bikers! VNN |
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Article 1
Economists question validity of statistics on public debt The statistics released by the Ministry of Finance and relevant agencies about  The State Audit Office of Vietnam (SAO) stated at a press conference last week that there were some problems in the statistical work about the public debt. Chief State Auditor Nguyen Huu Van, in his April report to the National Assembly’s Steering Committee, pointed out that the Ministry of Finance (MOF) overcounted and missed some loans and debentures. The SAO’s auditing report showed that the The figure of VND1.632 trillion is not big, but the gap between the statistics in the SAO and MOF reports was wide enough to make the dubious statistics seem even more unreliable. A representative of SAO admitted at the press conference that auditing public debts was a very unfamiliar work in Vietnam, and that the audit results could not be absolutely accurate because a public debt audit is just one part of the annual state budget audit program. He said that the SAO was still creating a procedure to be specifically applied to the public debt audit. In mid-July, economists present at a workshop on public debts held by the National Assembly’s Finance and State Budget Committee, warned about MOF and the government have many times said that A report from MOF showed that as of December 31, 2013, However, the economists at the workshop pointed out that the figures do not truly reflect the public debt situation because MOF did not count other kinds of loans, including state-owned enterprises’ debts. Dr. Vu Dinh Anh from the Anh cited The Global Debt Clock (GDC) as reporting that as of the end of March 2014, every Vietnamese had borne a debt of VND20 million ($887.51). GDC showed that Dr. Trinh Tien Dung, former assistant to the UNDP Vietnam Country Director, gave two different figures about Public debts, if calculated in accordance with the Public Debt Management Law, account for 54.4 percent of Under the law, public debts comprise government debts, government-guaranteed debts and local authorities’ debts. However, if TBKTVN |
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Deputy PM, FM Pham Binh Minh and Japanese FM Kishida Fumio, Ha Noi, August 1, 2014 - Photo: VGP |
Under the chairmanship of Deputy PM, FM Pham Binh Minh and Japanese FM Kishida Fumio, the two sides agreed to enhance high-level visits and meetings and organize the 5th strategic dialogue at deputy ministerial level this autumn.
They agreed to foster Japan ’s investment in Viet Nam by implementing the 5th phase of the Viet Nam-Japan Joint Initiative on developing Viet Nam
The two sides discussed on cooperation in developing infrastructure and implementing private public partnership in such projects likr Can Tho University and Viet Nam-Japan University.
Exchanging ideas about regional and international issues of mutual concern, Deputy PM, FM Minh affirmed that Viet Nam supports Japan
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The 6th meeting of the |
Both sides agreed that maintaining peace, stability, maritime freedom, security and safety in the
Deputy PM, FM Minh took the occasion to highly value Minister Fumio’s contributions to the friendship and cooperation between the two countries.
Japanese FM said his country agreed to provided six used vessels and equipment worth JPY500 million to help improve Viet Nam’s maritime law enforcement capacity.
During the meeting, ministries of the two countries discussed measures to enhance cooperation in economy and human resource development in the future.
Earlier, Minister of Planning and Investment Bui Quang Vinh and FM Fumio signed a note for non-project grant aid funded by the Japanese Government to ensure maritime safety.
Minister of Education and Training Pham Vu Luan and the Japanese FM also signed a note on another non-refundable aid to support human resource development.
VGP
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Article 16
Social News 2/8 Japan to provide patrol ships to Vietnam The Japanese Government has decided to provide Japanese government sources said on July 31 Foreign Minister Fumio Kishida who arrived in Vietnam the same day for an official visit is expected to announce the delivery of the vessels during talks with his Vietnamese counterpart Pham Binh Minh in Hanoi on August 1. Two of the vessels are fisheries surveillance boats and the remainder are fishing boats. They are 600-800 ton class vessels. The sources also said The non-refundable aid package is worth JPY500 million. Japanese encephalitis kills 10 children in Son La Japanese encephalitis, a mosquito-borne disease that preys on young and malnourished children, has claimed ten lives out of to 84 reported cases in Son La province since the beginning of this year. Lau Say Chu, Director of the Son La provincial Department of Health, said the onset of the disease shows initial symptoms of high fever, headache, feeling sick, vomiting, seizures, conscious disorder and coma. The disease is dangerous because of its high fatality rate. However, children who manage to survive are often left without the ability to communicate because of brain damage and spend their lives staring listlessly, unable to recognize friends they played with just weeks before. Doctors at the provincial general hospital said most fatalities are due to parents’ failure to take their child to hospital when they first came down with a high fever and parents failing to get their child vaccinated. The provincial health sector has issued a warning to parents that all children under five years of age should be vaccinated to guard against the deadly and debilitating disease. When children have a high fever of unknown causes, they should immediately be taken to hospital, it also cautioned. Meanwhile, the local health sector reported 3,000 cases of flu, nearly 1,200 cases of diarrhea, 71 cases of measles, and 12 cases of hand-foot-mouth disease in July. The province has directed relevant agencies to disseminate information about preventive measures against summer diseases to protect local people’s health, especially for ethnic minority people in remote areas. Businesses team up to protect wildlife In a bid to protect wild animals, private businesses are teaming up with Education for Nature-Vietnam (ENV), a non-governmental organization, to promote the conservation of nature and the environment. Business giants like Vingroup, PetroVietnam Oil Corporation (PV Oil), Big C supermarket chain, Intimex supermarket chain, Canon In early July, Global Telecommunications Corporation (Gtel Corp), FPT Group, DHL Vietnam, An Binh Bank, Kaspersky Vietnam, and Acecook Vietnam joined ENV to protect wild animals through practical activities. In addition to saying no to using products made from wild animals, Vingroup and Big C assisted ENV in organising exhibitions to raise public awareness of preserving special and rare endangered species. Exhibitions held at PV Oil recently disseminated information on not using wild animal products to more than 3,500 of its staff and their families across the country. It also actively participated in protecting wild animals through practical activities, such as publicizing a hotline (1800 1522) to report violators. On July, 11 Intimex supermarkets in BMW, Mercedes-Benz, MG, Hyundai and gyms centres NShape Fitness, Club M Health and Fitness A also distributed an important message in their showrooms and business establishments on rhino protection. Cao Bang poor get free treatment from US doctors A group of US doctors from Good Samaritan Medical Ministry (GSMM) has offered free check-ups and treatment to poor people in the northern mountainous During their 10-day stay, they examined and treated nearly 4,000 locals in seven districts and Cao Bang city, with a focus on dental, optic, obstetric and cardiovascular diseases. The programme has a budget of VND11 billion (US$517,000), which was collected by Vietnamese-born US doctors. The group presented equipment, transferred the technology and helped improve expertise for local doctors. The Good Samaritan Medical Ministry is a non-profit, non-governmental organisation which has held yearly summer missions in Japan funds Tokyo Vietnam Medical University Prime Minister Nguyen Tan Dung has approved a wholly foreign invested project to build Under the project, The 30-hectare campus will be built in two years at an estimated cost of VND421 billion (roughly US$19 million). Four years after its operation, the university is expected to have 80 local and foreign lecturers and enrol 1,200 students. Tokyo Vietnam Medical University will focus on four-year undergraduate majors of nursing, functional rehabilitation, physiotherapy, and orthotics & prosthetics, as well as three-year college training of nursing and medical tests. In addition to training, the university will also conduct scientific research based on medical technology application, and provide educational support services. Second child dies of acute diarrhoea in HCM City The 29-month-old girl living in Binh Chanh district was admitted to the Children’s Hospital 1 on July 25 with such symptoms as stomach ache, vomiting, fever and diarrhoea. She was diagnosed with gastrointestinal sepsis. At the same time, she was suffering from congenital heart disease and kidney failure. Despite intensive care, her health deteriorated and the family asked the hospital to bring her home. The child patient passed away at home on July 27. Epidemiological examinations show that her young brother also caught the disease but recovered from an illness after taking in similar medicines. This is the second fatality of acute diarrhoea in Binh Chanh district. The first case is a 10-month-old boy. The municipal health sector warned local people to fully observe personal hygiene regulations, including washing hands with soap frequently and ensuring food hygiene, in order to prevent the disease. Australian-funded vision project benefits southerners The Department of Health of the southern Building on the results of the first phase from 2011 to 2013, the extended project will be implemented via the Brien Holden Vision Institute, in Tan Thanh and Chau Duc districts in one year. The Australian institute will assist eye health communication activities of the Ba Ria – It will also aid Tan Thanh and Chau Duc in setting up two optical clinics, providing US$62,340 to procure equipment. During the first phase, the project was carried out in Xuyen Moc and Dat Do district, under which more than 20 ophthalmologists and technicians and over 300 local medical staff received intensive training. The project also provided eye check-ups for some 40,000 students at 56 secondary schools and presented 4,000 pairs of spectacles for students from disadvantaged backgrounds. Three optical clinics were also established in the districts and have offered services to more than 15,000 people. Panasonic donates washing machines to needy children Panasonic Vietnam Co. Ltd., on July 30 presented over 1,000 washing machines worth VND5 billion (US$235,000) to social welfare centres for children and boarding schools for ethnic children nationwide. The gift was handed over to the Ministry of Labour, War Invalids and Social Affairs, the Ministry of Education and Training and the Vietnam Farmers’ Association, which will then transfer the machines to nearly 400 social welfare centres and 103 boarding schools for ethnic children across the country. Minister of Labour, War Invalids and Social Affairs Pham Thi Hai Chuyen appreciated of the company’s charitable programme, saying that the gifts will help improve the living conditions of disadvantaged people, especially children. During nearly a decade operating in Charity Run to connect students around globe Over 600 Vietnamese university students from around the globe will participate in a run for charity at The run themed "Connecting VietYouth 2014" is the result of a joint effort by the Vietnamese Student Association in the UK (SVUK) in collaboration with the Global Shapers Community and the SVUK President Pham Ngoc Thu Thuy said that the run is expected to provide an exchange between Vietnamese students and expat youths, giving them a good change to join hands to help poor children in mountainous areas of the nation. The Global Shapers Community (GSP) organized by the World Economic Forum is designed to develop the social community by enhancing the role of capable young leaders. Tran Quang Hung ( HCM City hosts Vietnam Global Education Dialogue Nearly 200 delegates from universities around the globe are gathering at the Vietnam Education Dialogue 2014: Higher Education Reforms (VED 2014) in The two-day conference provides a good chance for Government leaders, scholars, and university and business representatives around the world to present and debate initiatives about higher education reforms in At the conference, Rena Bitter – Deputy Minister of Education and Training Bui Van Ga said Participants debated a number of issues, such as higher education governance, accountability, finance, quality and digitalisation in tertiary education reform. They also talked about lecturers, scientific research, private universities and foreign-invested universities. The conference also covered dissertations presented by Women face discrimination at work Female workers in Nguyen Thi Bich Thuy, director of the Centre for Female Workers and Gender Studies, said at a workshop on Tuesday that the proportion of women participating in the labour force remained low, despite the fact that economic woes in recent years motivated more women to find jobs outside the home. In 2012, 72.8 per cent of women participated in the labour force, compared to 81.3 per cent of men. Moreover, traditions and gender stereotypes – such as the commonly held belief by employers that men were more productive— hindered women's access to varied career choices and opportunities to raise their knowledge and skills. In 2012, the average monthly salary of female workers was VND3.2 million (over US$150), while men received more than VND3.8 million ($180), said Thuy. In most economic sectors, the average monthly wage of female workers was lower than that of men. The greatest wage gap was found in the FDI sector, where female workers earned only half what male employees were paid. In the private sector, these roles were reversed: women working for private companies earned slightly more than their male counterparts. Mai Duc Thien, deputy director of the Ministry of Labour, Invalids and Social Affairs's Legal Department, said the proportion of women holding leadership positions in the Government system was about 30 per cent. Yet in enterprises, women held only about 6.3 per cent of leadership positions. This proportion is considered high in Southeast Asia, but is much lower than many countries such as the Some enterprises still hold back from recruiting young women without children and ask female workers to delay their plans to have children, Thien added. Vahidha Nizam, a representative from the Indian Trade Union, said at a workshop held in Ha Noi last week that to achieve gender equality, female workers needed to be equipped with the skills to negotiate for the appropriate salary and fight for work safety. Thuy of the Centre for Female Workers and Gender Studies recommended that women be encouraged to pursue higher education, which would make it easier for them to obtain a higher salary. Nguyen Thanh Hoa, Deputy Minister of Labour, Invalids and Social Affairs, said that He said that grasping the core of these conventions and identifying the challenges to implementing them was essential, especially as Whirlwind damages houses in Hau Giang A whirlwind damaged and blew away roofs of 34 houses in the Mekong Delta Local authorities mobilised more than 100 officers and soldiers to the scene to help locals repair their houses and provide each affected household with financial aid worth VND3 to 6 million ($142-285). Voluntary pension scheme needed Voluntary pension insurance should be implemented as soon as possible because the delay would make life of retirees more difficult, a labour ministry official has said. Speaking at a conference on voluntary pension insurance on Wednesday, Truong Giang, Deputy Director of the Ministry of Labour, Invalids and Social Affairs' Social Insurance Department, said The country has managed to set up 48 fund management companies and nine banks in charge of supervising the implementation of the insurance. "This is the best time to implement the model, and as quickly as possible to assure lives of workers after retirement," he said. Chairman of the Viet Nam Chamber of Commerce and Industry, Vu Tien Loc said this type of insurance would be a solution to reduce the burden of social funds, increase social security and long-term benefits for businesses and workers. It would create conditions for people to participate and get a stable source of income after retirement. It would also contribute to the stability of the current pension fund, he said. In the 2007 to 2012 period, after six adjustments, the average pension had increased by 26.8 per cent annually. Meanwhile, the growth rate of the social security fund only increased 10.1 per cent annually. This caused pressure on the current social insurance fund and the State budget. It was forecast to increase rapidly in the future. In fact, there were a number of businesses implementing the model of insurance for their employees, he said. However, due to a shortage of adequate legal framework, these businesses had applied them in different ways. He said, authorised agencies should work together to complete the legal framework and disseminate them to increase the awareness of businesses and employees about the benefits of the insurance. According to Loc, the regulation saying that each enterprise was allowed to pay VND1 million ($47) for each workerr was reasonable as most were small-and-medium sized enterprises. This would assure benefits to labourers in these enterprises. Pension insurance is a voluntary form of savings to fund retirement, usually supported by employers and encouraged by the government through tax benefits. Railway e-tickets available this November The Vietnam Railway Corporation (VRC) will sell tickets online from this November under a deal recently signed with FTP-FIS-TeleHouse joint venture. Started on July 31, the 197 billion VND (9.3 million USD) project will help install and perfect the online-selling systems by November 2015, making the service available on VRC website, vending machines at train stations or agents nationwide, said VRC Deputy General Director Doi Sy Hung. Domestic or international payment cards will be accepted for transactions. Currently, railway transport accounts for only 0.5 percent of the total passenger transport market and 1 percent of total freight transport. The sector plans to raise the rates to 13 percent of passenger transport and 14 percent of freight transport by 2020. Tree planting programme takes root in Dien Bien province The northwestern Following the launching ceremony, 40,000 trees were planted at the Doc Lap ( The “One million trees for In the last two years, nearly 100,000 trees were planted in 10 provinces and cities under the programme. An additional 120,000 – 150,000 are expected to take root this year under the programme. Dak Nong province works to repair dilapidated bridges The Central Highlands The provincial Department of Transport said funding for the work will be sourced from the road maintenance fund. Dak Nong currently has 143 makeshift bridges and 17 suspension bridges. Most of them are located in rural areas and have been degraded due to a lack of maintenance. In previous flood seasons, dozens of bridges were washed away, hindering the travelling of local residents and threatening their lives and properties. Deputy Director of the department Nguyen Nhan Ban said the province now can only afford repair work since it costs hundreds of millions of VND to build a new bridge. Soc Trang Buddhists join hands in charity Buddhist dignitaries, monks and followers in the southern Over the past years, local Buddhists have contributed both money and labour to build houses for low-income people, Agent Orange/Dioxin victims, and those who rendered services to the nation during wartime. They have also helped in constructing bridges and roads to facilitate the travelling of residents in rural areas. The Buddhist community frequently organized such activities as giving free medical examinations and gifts to the needy or scholarships to poor students. Many pagodas held free learning classes for disadvantaged children. Monk Thich Thien Sanh from the Executive Board of the provincial Buddhist Sangha said the board raised more than 200 billion VND (over 9.5 million USD) for charity over the last five years. Notably, local Buddhists have coordinated with the Soc Trang Radio – Television Station to organise a monthly TV broadcast called “ There are 183 pagodas in Soc Trang at present with nearly 2,000 Buddhist dignitaries and monks. Seminar discusses micro-finance activities in rural development The role that micro-finance plays in sustainable rural development was the highlight of a seminar held in the central Jointly held by the Sustainable Rural Development for the Poor Project (SRDP) and the Quang Binh Development Support Fund, the event attracted the participation of nearly 100 delegates from SRDP beneficiary localities, namely Quang Binh, Ben Tre, Tuyen Quang and Dak Nong. Participants were introduced to micro-finance activities and their development in They also shared micro-finance development plans in their localities and made a fact-finding tour to Quang Xuan commune in Quang Trach district. The SRDP will be carried out in 40 communes in six districts of Quang Binh from 2014 to 2018, following a credit agreement between the Vietnamese Government and the International Fund for Agriculture Development (IFAD) signed in Its target is to sustainably improve the income and reduce the vulnerability of rural poor households. The project will invest in climate-smart, socially equitable and profitable rural development models, focusing on market-led development planning, rural financial services and market and value chain investment. Target groups for the projects include poor rural households with land and labour resources, unskilled and unemployed rural people, landless people, ethnic minority people who lack income and skill, and small and medium-sized rural trade enterprises and value-chain entrepreneurs.- Panasonic donates washing machines to needy children Panasonic Vietnam Co. Ltd., on July 30 presented over 1,000 washing machines worth 5 billion VND (235,000 USD) to social welfare centres for children and boarding schools for ethnic children nationwide. The gift was handed over to the Ministry of Labour, War Invalids and Social Affairs, the Ministry of Education and Training and the Vietnam Farmers’ Association, which will then transfer the machines to nearly 400 social welfare centres and 103 boarding schools for ethnic children nationwide. Minister of Labour, War Invalids and Social Affairs Pham Thi Hai Chuyen spoke highly of the company’s charitable programme, saying that the gifts will help increase the living conditions of disadvantaged people, especially children. During nearly a decade operating in Specific policies essential to spur Central Highland growth More mechanisms and policies designed specifically for the Central Highlands are needed in order to spur socio-economic development in this region and 29 mountainous district bordering the five Addressing the conference, Politburo member and head of the Steering Committee for the Central Highlands General Tran Dai Quang said the new policies and mechanisms should focus on helping target localities make full use of their abundant land resource for developing agriculture in an intensive and diverse manner. He suggested giving priority to industrial trees such as coffee and cattle husbandry, adding that agriculture development should be combined with processing industry and exports. Besides the Central Highlands, mountainous districts bordering the region also received substantial State investment over the past year under the Prime Minister’s instruction in his dispatch No.588 issued in 2009, the committee reported at the conference. During three years from 2009-2011, about 366 billion VND (22.1 million USD) was poured into 83 socio-economic development projects in those districts. General Quang suggested investing more in transport and irrigation works as well as electricity transmission network in these districts in the 2014-2020 period. He asked relevant ministries and local authorities to devise preferential policies to allow people from disadvantaged backgrounds and ethnic minority groups to pursue higher education and join training courses in agro-forestry, education, health and culture. Covering over 54,400 km squares, the Central Highlands groups provinces of Dak Lak, Dak Nong, Lam Dong, Gia Lai and Kon Tum, with a population of over 5.4 million people, 25.7 percent of them ethnic minorities. Vietnamese students brought home two bronze medals at the final round of the 2014 Microsoft Office Specialist World Championship (MOSWC) held in Tran Minh Tien from the Ho Chi Minh City Banking University won the only bronze in the category of MS Excel while another bronze in the MS PowerPoint 2010 category went to Tran Phuc Duy, a 10th grader at the Dinh Thien Ly High School in HCM City. The MOSWC 2014 drew the participation of 110 teams from countries and territories around the globe. 2014 is the fifth consecutive year that Vietnamese students have competed at the event. Last year, Vietnam won a MS Word 2010 bronze and was among top four countries in the category of MS PowerPoint 2010.- Agricultural sector urged to push satellite technology application Deputy Minister of Agriculture and Rural Development Le Quoc Doanh made the suggestion during a workshop held in The sector will firstly apply the technology in forest protection, agricultural land planning and use, he said. According to the Deputy Minister, the Swiss Agency for Development and Cooperation has conducted a project on “Remote sensing-based Information and Insurance for Crops in Emerging economies (“RIICE”) in Asia, including The involved countries make use of the remote sensing technology to map and observe rice growth. In the same way, the risks involved in agricultural lending by banks to rice smallholders can be reduced through insurance that protects the farmers’ loans against defaulting due to yield losses and thus trigger more investments in agricultural production. In Apart from the rice production management, the technology has also been used in other fields such as agricultural and forest land management, forest fire warning, landslide and alluvium supervision and disaster management.- Australian-funded vision project continues to benefit southerners The Department of Health of the southern Building on the results of the first phase from 2011 to 2013, the extended project will be implemented via the Brien Holden Vision Institute, in Tan Thanh and Chau Duc districts during one year. The Australian institute will assist eye health communication activities of the Ba Ria – It will also aid Tan Thanh and Chau Duc in setting up two optical clinics, providing 62,340 USD to procure equipment. During the first phase, the project was carried out in Xuyen Moc and Dat Do district, under which more than 20 ophthalmologists and technicians and over 300 local medical staff received intensive training. The project also provided eye check-ups for some 40,000 students at 56 secondary schools and presented 4,000 pairs of spectacles for students from disadvantaged backgrounds. Three optical clinics were also established in the districts and have offered services to more than 15,000 people. Ha Giang starts pilot model against HIV/AIDS discrimination A pilot model to raise awareness of the fight against HIV/AIDS and discrimination in ethnic minority-inhabited areas was launched in the northern mountainous The move came as the number of those living with human immunodeficiency virus (HIV) is growing, especially in ethnic minority regions. Ha Giang has so far recorded some 1,700 HIV cases, with 800 developed into the acquired immune deficiency syndrome (AIDS) and over 300 AIDS-related deaths. The model, running between now and late 2015 in Sa Phin commune, Dong Van district, is to curb the rate of HIV infections to below 0.3 percent by 2020, towards the goal of three zeros in new HIV cases, AIDS deaths and discrimination. It will engage local authorities, trade unions and community members, who will be equipped with knowledge and skills needed to protect themselves against the deadly virus. The project is also underway in the Mekong delta Programme to improve health care for elderly A programme for the health of the elderly across the country will be launched in The two-month programme will be jointly held by the Central Committees of the Vietnam Youth Federation (VYF) and the Vietnam Young Physicians Association, and the Nhat Nhat Pharmacy Co., Ltd. It will provide free check-ups, medicine and gifts for older and retired people in all the 63 provinces and cities, especially those with difficulties. Free eye operations and examinations to quickly find out cardiovascular and geriatric diseases will be conducted together with campaigns to raise public awareness of health care for the elderly, and those to call for viscera and cornea donation. About 3,000 young doctors and 5,000 volunteers are expected to participate in the event, which is expected to benefit about 33,000 people. As part of the practical activities affirming the vanguard role of youths, particularly young doctors, in caring the elderly, the event is also to respond to the 2014 Volunteer Youth Year, and mark the 23 rd anniversary of the International Day of Older Persons and the 58 years of VYF’s traditional day. A ceremony to review the programme will take place in Poor fishermen receive free health check-ups About 800 poor fishermen in the central The charity event was organised by the Vietnam Red Cross (VRC), its Quang Ngai chapter and the Hanoi Beer Commercial Joint Stock Company, in response to the programme “joining hands for national sea and islands”. On this occasion, medicine and first-aid kits were also presented to 100 offshore fishermen in Ly Son island district so that they can deal with injuries from accidents at sea. Meanwhile, six fishermen captured by Deputy head of the VRC-Quang Ngai chapter Le Thi Anh Thu said she hopes that this kind of activity will be carried out in other districts. APEC workshop boosts solar energy supply chain The role of the Asia-Pacific Economic Cooperation (APEC) forum in boosting the supply chain of solar energy is the main focus of a workshop held in Addressing the opening ceremony, Deputy Minister of Industry and Trade Nguyen Cam Tu stressed the need to effectively exploit and take full advantage of renewable energies such as solar energy, wind power and biomass. These can help reduce the exhaustion of non-renewable resources, ensure supply for the operation of the economy and industrial development, as well as boost economic growth of APEC member economies, he said. Ronald Steenblikx, a representative from the Organisation for Economic Cooperation and Development (OECD), said APEC leading officials and ministers from its member economies have paid much attention to the sustainable development of energies, particularly renewable ones. In 2012, APEC leaders set a target of a 45 percent improvement in efficiency by 2035. However, a report on APEC energy outlook by the Asia-Pacific Energy Research Centre and APEC Energy Working Group showed APEC’s energy efficiency surge over the last three decade. Primary energy consumption is expected to grow by 53 percent by 2035. Without reductions in energy intensity, APEC energy demand will grow at the same rate as the region’s GDP, which is projected to jump about 225 percent by that year, said the report. To deal with energy challenges, Dr. Phyllis Genther Yoshida, head of the working group, suggested APEC economies work closely to raise public awareness of climate change and ways to use energy effectively, as well as to speed up research on low carbon emission technologies and green house gas emission reduction. Dien Bien shares experience in building REDD+ action plan The northwestern mountainous Dien Bien is the first province in the country to have completed and launched a PRAP with assistance from the Japanese Government through the Japan International Cooperation Agency (JICA). The provincial People’s Committee approved the plan, designed for the 2013-2020 period, on May 26 this year. REDD+ aims to reduce emissions by efforts to curb deforestation and forest degradation while promoting sustainable management of forest, conservation and enhancement of carbon stocks. Also at the function, Dien Bien launched a provincial forest monitoring system, which is an important part of its PRAP. Under the plan, the locality aims to achieve 40,641 tonnes in annual net increase in carbon stock, raise forest coverage to 45 percent by 2015 while zoning off 6,555ha of forests in Muong Phang and Muong Muon communes for REED+ implementation. The goals set for the next period from 2016-202 are 376,650 tonnes, 50 percent and 264,000ha, respectively. The REDD+ action plan is built amid downgrading ecosystem and biodiversity in Source: VNN/VNA/VNS/VOV/SGT/SGGP/ND |
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Article 15
The Vietnamese economy is poised for ‘exponential’ strong growth with the signing of a number of free trade agreements (FTA) in the offing.
The trade pacts, once signed, will open up new horizons for high quality Made-in-Vietnam products to penetrate expanded and diversified markets while simultaneously permitting the country to reduce its overdependence on certain markets. Most notably among them is the Trans-Pacific Partnership (TPP) agreement, which is currently in its 20th round of negotiations. Member countries are currently negotiating to eliminate 100% of tariffs on imports, of which 90% of the tariffs will be abolished immediately with the remaining 10% removed following a moratorium period of up to 10 years. TPP member countries account for the preeminent market in the world as collectively they will account for 40% of global GDP and 30% of the total global import-export revenue. Once the agreement is signed, Vietnamese products will have ample opportunities to directly penetrate powerful markets including the The Vietnamese garment sector is expected to cash in on the TPP agreement. Roughly 1,000 tax lines on garment products exported to the However, to benefit from the trade pact, the garment sector must meet certain conditions, such as certificate of origin (C/O) on materials used in the intra-bloc. Secretary General of the Vietnam Textile and Apparel Association (Vitas) Dang Phuong Dung says this is not necessarily going to be an easy task. Garment businesses must renovate technology, invest in material production, create closed process ranging from fibre, textile, dying and garment, and raise the proportion of domestic material use and added value for products to grasp TPP’s advantages, Dung says. The most challenging requirement for In addition, she adds, Vitas is preparing to train and shift from doing outsourcing to modern production methods to increase added value for products. This year, These agreements will help Chairman of the Vietnam International Arbitration Center Tran Huu Huynh says strict requirements from these agreements force domestic businesses to improve their competitiveness to join the global value chain and play by the rules. “Over the past several decades, they have not really bettered themselves. These agreements will offer both opportunities and challenges for them to rise up,” Huynh said. On the other hand, Machinery and equipment imports from the EU rose from US$2.6 billion in 2005 to US$7.6 billion 2010. Tariff cuts will help Minister of Industry and Trade Vu Huy Hoang says the Government’s guideline is to diversify new import-export markets to avoid overdependence on any one partner to the greatest extent possible. If negotiations are successful, there will be greater potential for Vietnamese exports to penetrate global markets tax incentives and simplified administration procedures, Hoang says. “The Government will create a niche for businesses to accelerate exports more stably and sustainably,” Hoang notes. Experts warn that when these key trade pacts are signed, The Government should also soon issue support policy guidelines for garment, footwear and agricultural businesses to fully exploit advantages from FTAs. VOV |
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Article 14
 This file photo shows children who are stunted due to malnutrition in Binh Thanh District,  Some obese Vietnamese children are seen in this file photo. Tuoi Tre While as many as 2.2 million children nationwide suffer from stunted growth due to malnutrition, the childhood obesity rate in These striking figures were announced at a conference on children’s nutrition jointly held in the city by the HCMC Nutrition Association and the municipal Dr. Do Thi Ngoc Diep, director of the center, said that the rate of obese children under age five in the city has increased three times from 3.7 percent in 2000 to 11.5 percent in 2013. At a conference held in the city last year, medical experts said almost 30 percent of obese Vietnamese children under age five live in the five major cities of Experts warned that along with the obesity rate among children increasing every year, health risks like diabetes and cardiovascular and blood pressure problems are also on the rise. Among 20 countries with the highest rates of malnourished children Meanwhile, with 2.2 million children suffering from stunted growth, These children account for 31.4 percent of the total child population of 7 million of According to an inquiry in 2012, of the total number of children under age five, 17.5 percent were underweight and 29.3 percent were stunted due to malnutrition. Last year, the rate of stunted children reduced to 25.9 percent, still a high rate, Dr. Hop said. Currently, Kon Tum and Lao Cai lead the country in stunted children, with a rate of as high as 40 percent, she said. “Studies show that stunted growth in 3-year-old children will affect their ultimate height,” she said. On average, children with good nutrition will have a height of 1.71 meters, while malnourished children have a lower height of 1.6 meters and under, the doctor warned. Therefore, the nutrition of the country’s children must be paid due attention, especially in the first 1,000 days of a child’s life, she said. Active and effective intervention in this period will significantly contribute to the development of both the height and mental development of children, she added. Tuoitrenews |
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Article 13
Binh Dinh kicks off martial arts festival
HA NOI (VNS)- An international festival highlighting Vietnamese traditional martial arts opened last night in central Binh Dinh Province, the birthplace of the practice. The opening ceremony in The arts form dates back to the Tay Son-Binh Dinh martial arts school in the 18th century. Yesterday hundreds of martial artists, martial arts trainers and local authorities attended an incense- and flower-offering ceremony dedicated to Emperor Quang Trung, a native of Binh Dinh who is regarded as the founder of the tradition. A solemn ceremony was also held in Tay Son District, where Emperor Quang Trung led the Tay Son Uprising Movement. "It's an honour for me to visit the cradle of Vietnamese traditional martial arts. I learned more about the lifestyle and spirit of a martial artist," said Helen van Deer Lest, a martial artist from "I'm so impressed to see Vietnamese children practising martial arts. Vietnamese traditional martial arts helps me strengthen my mind and body." This is the fifth time the province has organised the festival, which will run until August 4. It includes martial arts performances as well as folk games, a tuong (classical opera) competition, a photo exhibition and a seminar on preserving traditional martial arts. Participants include 60 foreign martial arts delegations as well as 30 from |
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Article 12
Danang woman to undergo surgery for American punch  Trang shows a hospital's document which read that her nose and cheekbone were broken. Photo: Nguyen Tu A local woman was admitted to a Danang hospital on Friday after getting caught up in a street brawl involving an elderly American expat--she is scheduled to undergo reconstructive surgery next week. Nguyen Cuu Thi Thuy Trang, 40, was rushed to Trang says the blow was thrown by an American expat that police identified as Dennis Marshall Gray, 68. Gray, who said he didn't recall the specifics of the scuffle claimed he was trying to get away from a menacing crowd being riled up by a taxi driver named Nguyen Quy. Quy told police that Gray was trying to get out of his fare and had punched and kicked him several times. He claims he dodged the punch that smashed Trang's face . A local man named Le Van Phuoc, 29, told Thanh Khe District police that he attacked Gray with a bicycle tire after seeing him break Trang's nose. Phuoc's blows were documented in a street video that quickly went viral this week, sparking a heated international dialogue about who was responsible for the unfortunate daylight brawl. Media reports quoting local police described the scene as the culmination of a long string of fights picked by Gray whom they alleged had a history of similar incidents in the past. They pledged to fine Phuoc and all those responsible for the fight. Gray, who flew to Ho Chi Min City to renew his visa, has yet to be questioned by the police, but told Thanh Nien News that he's always had a temper. No word has yet emerged about Quy, the taxi driver, or the unpaid fare that started the whole disagreement. In the meantime, Trang seems to have emerged as the unluckiest character in the unfortunate string of events. “Doctors asked me to stay in the hospital; I've been taking medicine for three days while awaiting an operation. They said the longer we delay, the more difficult the treatment would be, since the bone of my nose will start to heal [incorrectly],” Trang told Thanh Nien News on Friday. “I had to go home, and run around borrowing money until today to pay the advanced fee of VND 2 million.” Trang was waiting for a green light on her motorbike at the intersection of the Hoang Hoa Tham and Ly Thai To street on Sunday evening when she saw two men quickly moving away from a taxi. She said Quy was running after Gray, asking the latter to pay his fare. “The driver shouted: ‘Everybody watch this: this man refused to pay me...tore up my cab's [insignia sticker]...call the police for me please’, as he was chasing this foreigner,” Trang said in a telephone interview. “The driver was grabbing the foreigner's shirt, and the expat tried to escape by kicking and punching at the driver.” Trang added that many passers-by gathered to convince the men to stop fighting. However, Trang said the foreigner seemed to be drunk and kept lashing out with his backpack at whoever got close to him. At some point, Quy got in front of Trang and began demanding that Gray pay his taxi fare, prompting the American to let loose a punch. The heavy blow missed Quy and landed in Trang’s face. “I fell forward on my handlebars, others helped me hold my head up, take off my mask and wipe the blood from my nose.” “People told me to follow the foreigner and report him to the police, but I just couldn't move.” A number of bystanders escorted Trang to the Thac Gian Ward police station to report the crime, but she said she became dizzy and began vomiting. Police took her to the hospital. Chief of the Danang Police Secretariat Tran Phuoc Huong told Thanh Nien News that they have received Trang's petition for redress, which demanded that Gray pay her medical bills and wages lost during her treatment. According to Thanh Khe police, Gray refused to cooperate with the authorities for the second time on Thursday and instead flew to Gray said he had an amicable meeting with an investigator in the morning and plans to sit down with police once a friend is free to serve as his interpreter. In the meantime, he plans to travel to |
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Article 11
BUSINESS IN BRIEF 3/8 BKAV wins award for customer service The internet security BKAV company was honoured as one of the top 10 "Good Vietnamese products – Perfect Service". Others included VietinBank and BIDV. The listing was organised by the Viet Nam Standards and Consumers Association. It was based on a nationwide customer research over a six-month period. Criteria included quality, competitiveness and environmentally-friendly products and services. BKAV is well-known for its anti-virus software that sells for VND299,000 (US$14). It has 17 million users throughout In 2013, BKAV was included by Gartner, an American information technology research and advisory firm, as one of the "Coolest Vendors in Emerging Markets". Long An seeks to build racecourse The People's Committee of the southern If allowed, the racecourse will be developed in Duc Hoa District by the Hong Phat Real Estate Joint Stock Company. It will have an investment capital of US$160 million, cover an area of 324 hectares, and accommodate 30,000 people. The committee said that the sport and entertainment complex is suitable to the local master plan for socio-economic development. It is expected to create more jobs and increase State budget revenues for the province. HQC sets firms for private placement Hoang Quan Consulting Trading Service Real Estate Corporation (HQC) announced it has selected three strategic investors, all domestic construction companies, for a sale of 50 million shares. The property developer plans to issue 110 million shares to raise its charter capital to VND2 trillion (US$95 million) this year, of which 50 million will be offered to strategic investors in a private placement at the face value of VND10,000 ($0.48) a share. Bao Linh Housing Development&Construction Investment Joint Stock Company will be offered 10 million shares, while both Indochina Real Estate Development Investment Company Limited and Binh Thuan Construction and House Trading Joint Stock Company will buy 20 million shares each. The placement will be carried out in the next three months and HQC expects to raise VND500 billion ($24 million) from this issue. As shares are issued at par value, transfer will be restricted to one year. In addition, the company will issue 30 million shares to its existing shareholders at the price of VND10,000 per share. Proceeds of these two issues will be put into four apartment construction projects in HQC shares are being traded below par value. The shares hit the ceiling price yesterday at VND7,900 ($0.38) per share. HQC posted a net profit of just VND6.5 billion ($308,000) in the first half of this year, only half of the same period last year. This number is far below the yearly after-tax profit target of VND150 billion ($7.1 million). Fewer firms established than last year Nearly 42,400 enterprises were established in the country in the first seven months of the year, down 7 per cent in the number of new businesses as compared to 2013. Data from the Ministry of Planning and Investment, however, showed that with total registered capital of VND262.4 trillion (US$12.33 billion), the figures were up 17.8 per cent as compared with the same period last year. Last month alone, the number of newly established enterprises went over 5,000 with total registered capital of VND31.5 trillion ($1.5 billion), reducing 16.5 per cent against the previous month. The average registered capital per newly established business was VND6.19 billion ($290,930), representing 26.7 per cent year-on-year increase. More than 629,000 labourers are expected to earn employment at the new companies, increasing 6.5 per cent against last year. The period also saw 37,612 enterprises dissolved and suspending operations, representing an increase of 9.8 per cent against the previous year. Of this, 5,610 enterprises were dissolved while 6,774 businesses temporarily halted operations with registration. The remaining 25,228 ceased their operations in wait for payment of enterprise code or without registration. Total registered capital of those in difficulties which are bound to stop operations reached VND291.6 trillion ($13.7 billion), accounting for 84.5 per cent of the total capital supplemented during the period. As many as 9,428 businesses have resumed operations in seven months, decreasing by 6.4 per cent against the same period last year. FPT to create rail e-ticket system Vietnam Railways (VNR) and the Corporation for Financing and Promoting Technology Corporation (FPT) signed a contract for an electronic booking system for VNR in Ha Noi yesterday. The US$9.3-million project will be completed in three stages over a period of seven years. In the first stage, FPT will install the electronic booking system within 120 days of the date of signing of the agreement. In the second stage, electronic tickets will be sold on the website for a year to serve the demands for Tet (Lunar New Year) holiday 2015, starting from November 21 of this year. In the final stage, the system will be installed at all stations in the country over six years, starting from November 21, 2015. According to VNR CEO Tran Ngoc Thanh, the electronic booking system aims to improve the quality of service and provide passengers with flexible adjustment of ticket prices depending on the route and duration of the journey, and increase the demand for railway transportation. The system provides customers with all information about trains and publishes the availability of tickets, especially on holidays and special occasions. The online tickets can be purchased anytime and anywhere, through various means including messages, emails, electronic boards, smartphones and tablets. Commuters can use domestic and international credit cards to make their payments. The system also calculates the number of bookings and passengers, and helps VNR develop appropriate business tactics to meet the demand and improve the business efficiency and quality of available railway infrastructure. The contract says that VNR is capable of using the electronic booking system to sell tickets. FPT is responsible for establishing the system and will make profit from a part of the ticket sales that will be given by VNR. "The electronic booking system helps passengers to buy tickets easily with only a smartphone or a tablet. This is also an essential improvement for VNR to regain its position in the national transportation system," CEO Tran Ngoc Thanh said. "The co-operation between VNR and FPT will make a significant improvement by applying information technology to VNR's operations, raise its efficiency and credibility among customers, and support the company to make a great contribution to the development of the country," FPT chairman Truong Gia Binh said. Speaking at a meeting with the HCM City EPZ Authority (HEPZA) on Wednesday, Le Hoang Quan, the People's Committee chairman, urged IP and EPZ developers to provide better services to investors and connect their tenants with Government agencies to be more competitive. Local and foreign firms should better connect with each other to make their products better known and foster development of supporting industries, he said. He hailed HEPZA's efforts to attract investments this year and, especially, to ensure security in mid-May when many of their tenants were attacked by rioters following Speaking at the meeting, Nguyen Bach Hoang Phung, deputy head of HEPZA, said this year the city's EPZs and IPs have attracted investments of US$333.47 million, a 55.5 per cent increase over the same period last year. Phung said development of infrastructure at EPZs and IPs has "a positive impact" on investments, especially from foreign sources. In the first half of this year nearly 69.5ha of land in EPZs and IPs was leased out, a 4.5-fold increase year-on-year. Also during the period 36,711sq.m of factory and warehouse space was leased, mainly at Cat Lai IP and Tan Thuan EPZ, a 76.27 per cent rise, he added. Shoe, leather firms encouraged to be more competitive Exports of the country's leather and footwear sector have long depended upon foreign direct investment (FDI) businesses, as 77 per cent of the total export value came from foreign enterprises. Phan Thi Thanh Xuan, general secretary of the Viet Nam Leather and Footwear Association (Lefaso) told news portal ndh.vn that domestic leather and footwear firms have mainly manufactured for exports. Competitive labour costs have attracted FDI inflows, as well as orders from Xuan said it could not be denied that contributions from the FDI sector promoted export growth in the industry and provided jobs for labourers. Local firms have received management experiences, modernising technologies and deeply joining in the value chain. However, she said the significant presence of FDI companies in footwear exports reflected the low level of competition exhibited by domestic businesses. The sector should put in place effective and long-term solutions to balance the portion of exports between Vietnamese and FDI enterprises, as the FDI sector has an advantage in capital, experience and technology. In addition, these businesses have markets they supply throughout the world. Diep Thanh Kiet, the association's vice chairman, was reported as saying by the newspaper that another reason for the situation was the limited support industry in the sector, noting that the industry supplies only 30 per cent of its needed raw materials, while spending US$1.1-1.5 billion each year for imports of leather for production. Kiet said local producers should be more active in supplying materials, while setting strategies and studies to meet consumers' tastes, thus increasing the value of exported products. Phan Chi Dung, head of the Ministry of Industry and Trade's Light Industry Department, said commercial agreements have strict regulations about the origin of products. Dung proposed that localities should provide favourable conditions for the footwear industry to build concentrated industrial parks and become involved in supplying materials. Lefaso's figures revealed that the leather and footwear sector has always had high growth rates, with export values at the top of the processing group. In the first half of the year, the sector earned $6.09 billion from exports, of which shoes reached $4.84 billion, increasing 22 per cent, and the value of exported bags was $1.25 billion, posting a 38 per cent year-on-year increase. It added that the target of export revenues of $12 billion this year would be possible. Gold loans fall as prices dip Gold loans at 10 commercial banks in Each tael equals 1.2 troy ounces. Thoi bao Ngan hang (The Banking Times) reported that the volume of gold loans may require more attempts to encourage clients to convert gold into Vietnamese dong, which the State Bank of In principle, the central bank ordered commercial banks to close accounts of deposit and loans on gold on June 30th, 2013. However, it was not bankers who could make that decision. Terms of gold loan contracts were quite long and clients often did not want to end contracts before their maturity. To wipe the slate clean, banks offered to exempt charges for overdue interest payment for clients who borrowed gold at 5 to 7 per cent yearly in 7 to 10 years. However, banks reported that such a solution was not working out since a large number of clients were jewellery processing firms and real estate developers. They were supposed to pour capital into projects and ran out of money to pay the loans. A representative of an Local gold yesterday dipped by 0.2 per cent to set at a one-month low between VND36.56 and 36.68 million (US$1,724-1,730) per tael. The loss was driven by a decline in world gold prices to below $1,300 per ounce, as investors nervously awaited the end of US Federal Reserve's two-day policy meeting yesterday to see if the central bank would raise interest rates faster than expected. Spot gold was down 0.4 per cent at $1,299.10 an ounce after rising to as high as $1,312.10 earlier in the day. Banks quoted the US dollar between VND21,195 and 21,270, up VND5 to 10 against Tuesday. Wood export value rises, but so do costs According to the Ministry of Agriculture and Rural Development, exported wooden products were valued at US$3.35 billion during the first seven months of this year. Further, during the first six months, exports of wood and wooden products increased in most export markets, excluding Meanwhile, exports to the The Nguyen Manh Dung, head of the Processing Division from the Department of Processing and Trading Agricultural, Forestry, Seafood Products and Salt, said Additionally, in the first seven months of 2014, the ministry said, Many experts have said, if the country is to create sustainable development, the industry must have modern technology to use in production and increase the efficiency of using material wood products, while meeting the demands of both local and foreign markets. According to the Trade Office of Viet Nam in the Further, In first five months of this year, Nguyen Thi Hong Thuy, commercial counselor of the Viet Nam Trade Office in the Some large companies in the Thuy said Vietnamese wooden products should increase their market share in the Local firms should join international fairs and exhibitions for wooden products in the Workshop looks into ways to improve The Central Institute of Economic Management (CIEM) on July 31 held a workshop on the implementation of the Government’s Resolution 19/2014/NQCP on improving The function was organised in coordination with the Governance for Inclusive Growth programme of the US Agency for International Development (USAID/GIG). Resolution 19/2014/NQCP, issued on March 18, 2014, targets key competitiveness indices of To translate the document into action, State agencies need to cut down administrative procedures and business expenses so as to improve cross-border trade, taxation and access to electricity. At the workshop, relevant agencies, including the General Department of Taxation, the General Department of Vietnam Customs, the Vietnam Social Insurance and the Vietnam Electricity Group, pledged every effort to raise the three indices from now to 2015. Deputy Minister of Finance Do Hoang Anh Tuan said his ministry is amending some circulars so that the procedure handling duration complies with international accounting standards. He said the on-going tax declaration change can help cut the tax payment duration down by 201 hours. CIEM Director Nguyen Dinh Cung said CIEM is working with the business circle to devise measures addressing challenges regarding business environment and competitiveness. With the help of USAID/GIG, the institute will carry out action plans to facilitate foreign investment and the growth of small- and medium-sized enterprises, he added. The Hanoi People’s Committee and the municipal Labour Federation on July 31 honoured 150 local enterprises for their remarkable business and production achievements as well as their active contributions to social work. More than 200 individuals also received certificates of merit in recognition of initiatives and creative ideas they contributed to their units. Ha Thanh Concrete Joint Stock Co., the Military Petrochemical Joint Stock Co. and the Korea-Vietnam Co. Ltd were among the most outstanding units. Meanwhile, pharmacist Le Thi Binh, Chairman and CEO of the Tam Binh Pharmaceutical Co., Ltd, and Pham Van Kiem, Chairman and CEO of the Thai Binh Joint Stock Corporation, were the best names in the pack of outstanding entrepreneurs. Addressing the event, Chairman of Hanoi People’s Committee Nguyen The Thao asked agencies and sectors to focus on removing difficulties for enterprises and create favourable conditions for them to access capital sources and expand market. He also urged enterprises to promote the application of scientific advance and latest technologies in production in order to increase productivity and product quality, thus improving their competitiveness in the world market. Binh Duong sees high industrial production, export growths The industrial production value of southern Binh Duong province in the first seven months of this year hit 98 trillion VND (4.6 billion USD), up 12.8 percent year on year. Of the figure, the foreign-invested sector made up 67.5 percent, a rise of 13 percent. In July alone, the figure was nearly 14.6 trillion VND (685.73 million USD), a 3.9 percent growth over the previous month, of which the foreign-invested sector contributed 9.97 trillion VND (468.59 million USD), up 4.4 percent. Meanwhile, Binh Duong posted an export turnover of 1.3 million USD in the month, up 4.4 percent against the previous month, pushing the January-July figure to over 8 billion USD, rising 13.3 percent. According to a recent survey by the provincial Department of Statistics, almost all 387 asked local enterprises asserted the locality’s favourable business environment in 2014 with production recovery in most businesses. In 2014, 72.3 percent of the local enterprises forecast they will enjoy revenue growths, while 76.2 percent expect to see a rise in pre-tax profits, according to the survey. It also revealed that 45.7 percent of enterprises will increase labour force while 42.8 percent plan to increase capital. At the same time, 48.3 percent of 108 export firms expect to enjoy higher export turnover than that of 2013, it added.- Tay Ninh sees booming border trade with Cambodia Cross-border trade between Of the total, Main exports included instant noodle, plastic products, detergent, batteries, cooking oil, cosmetics, construction materials, pigs and chickens, while major import items were cassava, soybean, buffaloes, cows and material cashew nuts. Notably, in the last seven months, Meanwhile, total trade in the period at 20 markets in 16 border communes was estimated at about 200 billion VND (more than 9.5 million USD). In order to create favourable condition for border trade activities, the province has invested in upgrading the road and bridge at the Tan Nam (Tay Ninh)-Mean Cheay (Prey Veng, The province is also drafting a 1 trillion VND (47 million USD) project to build and upgrade road systems leading to auxiliary border gates in a bid to boost border trade. Sustainable solutions for sugarcane industry According to calculations, the cost of sugarcane production in If a timely and effective solution is not found, thousands of households and businesses in the sector will be miserable, said Nguyen Trong Thua, Head of Agro-forestry-fisheries and Salt production Department under the Ministry of Agriculture and Rural Development. According to Chairman of the Vietnam Sugarcane Association Nguyen Van Loc, there are now more than 310,000 hectares of sugarcane. From 2009 - 2010 crop year to present, the country's sugarcane output has increased steadily, reaching an average of 200,000 tonnes per year. Particularly in 2013 – 2014 crop year, sugar production reached the record of 1.6 million tonnes. In this crop, sugar productivity reached the highest level ever of 5.47 tonnes a hectare. Loc said that the sugarcane cultivation areas are scatter while technology for manufacturing process is very poor. Besides these, manual harvesting and transport which have not followed proper technique has led to the loss of 10-15 percent of the sugar, while the loss percentage in other countries has accounted for only 1-2 percent. Loc added that comparing competitive advantage in this industry between According to Loc, the issue of development plan of One important reason is that existing sugar processing technology in As an expert, Prof. Dr. Vo Tong Xuan said that to cut the production cost, In addition, farmers and businesses need to calculate when applying science and technology in choosing sugarcane breed for stable development of the sugarcane cultivation areas. G-bond market remains attractive The Government bond market is expected to be more active this year as investors have shown increasingly strong interest in bond auctions despite falling coupons. At an auction of the State Treasury on Tuesday, investors bid for VND20 trillion worth of G-bonds compared to VND8 trillion put up for sale, marking the biggest bidding volume ever. At the close of the bidding, investors snapped up VND1 trillion of two-year bonds, VND2 trillion of three-year bonds, VND3 trillion of five-year bonds and VND2 trillion of 10-year bonds. Despite a strong decline in coupons of tenors of five years or shorter, banks were still strongly interested in the debt paper. According to the Hanoi Stock Exchange (HNX), the organizer of G-bond auctions, the winning coupon of two-year bonds was 5.25% per annum, dropping by 0.12 percentage point against the previous session on July 11. Meanwhile, three-year bonds reported a winning coupon of 5.68% per annum, or 0.11 percentage point lower than on July 17. The winning coupons for five and 10-year tenors were 6.68% and 8.48% per annum respectively. Since early this year, the State Treasury has mobilized VND139.6 trillion from G-bond sales, exceeding the total in all of 2013. As Moody’s suddenly upgraded The State Treasury estimates to launch VND50 trillion worth of treasury bills and bonds onto the market in the third quarter, higher than the VND47 trillion in the second quarter but lower than the VND75 trillion in the first quarter. Three- and five-year bonds will make up the largest ratio of the third quarter bond volume, followed by one year, two years and 10 years. Experts from Bao Viet Securities Company said that there is a shift from short to long tenors in this quarter. The volume of two-year bonds issued has dropped repeatedly since early this year from VND17.6 trillion in the first quarter to VND9.5 trillion in the second quarter and an estimated VND6 trillion in the third quarter. Meanwhile, five-year bond issues are expected to bounce back strongly. The move suggests that banks, which are active on the bond market, will improve their capital structure by raising their medium-term capital ratio, the experts said. July retail growth slows despite multiple promotions A report by the General Statistics Office showed that the retail market has grown slowly this month though retailers have launched numerous promotion programs to fuel consumption. The GSO put total retail sales of goods and services in July at VND238.7 trillion, up a mere 0.3% over the previous month. Goods revenues inched up only 0.3% while sales of catering and accommodation services rose by 3%. On the contrary, travel service revenues dropped by 3.8% as the summer holiday season is coming to an end, with tourism revenues of the coastal localities like Binh Dinh, Phu Yen, Haiphong, Danang and Ha Tinh falling by 5.2%, 3.2%, 2.7%, 1.9% and 55.1% respectively. Accumulated sales of goods and services in January-July reached around VND1,655 trillion, up 11.4% year-on-year and rising only 6.3% if price factors are excluded. Despite the good growth in the first seven months of this year, representatives of supermarkets and commercial centers said consumption has not improved much though they have offered a range of promotions and discounts. Some modern retailers like supermarket chains said their sales growth resulted mainly from their expanding networks. In fact, the revenue of each supermarket and store did not rise or even declined. Retailers attributed the situation to economic difficulties which have eaten into incomes of consumers and forced them to tighten their spending. Consumers still focus on buying essential goods for their families. Sales would not improve next month as August is the seventh month of the lunar calendar when consumers are advised not to buy stuff in a month of wandering souls. A recent report of Nielsen on global consumer confidence and spending indicated that the confidence index of Vietnamese consumers in quarter two fell slightly by one point against the first quarter to 98 points as they were more concerned about finance and jobs in the next 12 months. Vietnamese consumers, according to the report, are trying to cut their spending on clothes and entertainment services to save money. The Vietnam Airlines Corporation gained total revenue of nearly VND28 trillion (US$1.32 billion) for the first half of this year, according corporation report released on July 31. In H1, the domestic economy continued to recover, interest rates for loans remained low and inflation was controlled, while Vietnam Airlines, the national flag carrier and also subsidiary of the corporation, registered revenue of VND27.8 trillion (US$1.31 billion) in reviewed period, or 48.5% of the carrier's target for this year, it said. The corporation expected to gain VND100 billion (US$4.72 million) in pre-tax profits, including VND82.3 billion (US$3.88 million) from Vietnam Airlines. The corporation ferried around 8 million passengers, 8.5% higher than the same period last year, including about five million local passengers. However, it continued facing many challenges in the first half of this year that affected its operations and business. These included difficulties in the domestic economy, fierce competition from the domestic and foreign markets, adverse impact of the conflict on the To meet the target set for 2014, the corporation will continue its restructuring plans, ensure security, safety and proper management of flights and improve quality of service for passengers. FDI flows to processing, manufacturing industries Processing and manufacturing industries have attracted the most foreign direct investment (FDI) capital so far this year, with 448 newly-licensed projects and a new registered and additional capital of 6.66 billion USD, accounting for about 70 percent of the total FDI. They were followed by the real estate and construction sectors, with 1.13 billion USD and 547 million USD, respectively. According to the Ministry of Planning and Investment's Foreign Investment Agency, total registered capital of FDI projects in the first seven months this year decreased by 20 percent year-on-year to 9.53 billion USD. In the reviewed period, as many as 889 new FDI projects were licensed with total registered capital of 6.85 billion USD, representing 0.9 percent year-on-year decrease. About 300 projects increased their investment by 2.67 billion USD, falling 46 percent compared to a year earlier. The Northern Bac Ninh province led the country in FDI attraction with 1.33 billion USD, making up 14 percent of the country's total inflow. Some big FDI projects that were granted licences in July included the RoK investor's Samsung Display Company in In the period, the country’s FDI disbursement increased by 2.3 percent against the same period last year to 6.8 billion USD. The export value of the FDI sector (including crude oil) hit 55.83 billion USD, up 15 percent year-on-year and making up 66.8 percent of the total export turnover. Vietnam Railways Corporation undergoes restructuring A number of subsidiaries of the Vietnam Railways Corporation are being equitised, including two major companies, Hanoi Railway Passenger Transport and Saigon Railway Passenger Transport. The two companies will be renamed Hanoi Railway Transport Company and Saigon Railway Transport Company. Restructuring of these two companies is expected to be complete in 2015. Di An Railway Company, Gia Lam Railway Company and about 20 others that specialise in railway infrastructure maintenance will also be equitised by the end of 2015. All the affected firms will go into operations on January 1, 2016. Executives at Vietnam Railways Corporation have ordered further research on the process and proposed reducing stakes in their consulting and construction companies to less than 30%. The Vietnam Railways Corporation will submit an organisation, management and operational plan for the national railway system to the prime minister and the Ministry of Transport in July. A new report has shown that many enterprises are optimistic about Locally-owned Vietnam Report has conducted a survey of over 300 of “The figures show that most enterprises are confident in their performance and economic outlook. They are also expecting significant business recovery this year,” noted the survey. According to the results, priorities for this year included customer care (65.6 per cent), human resources development (60.7 per cent), upgrading technology (50.8 per cent), local and overseas market expansion (45.9 per cent), and research and development (41 per cent). In late January US-backed global management consulting firm Boston Consulting Group reported that the middle and affluent class in Tibor Novakm, country manager and chief representative of Hungarian-backed pharmaceutical firm Gedeon Richter’s representative office in “Vietnamese people are spending more on medicine and we are researching the market. If it meets our conditions, we might consider building a factory here,” he said. The Vietnamese pharmaceutical market was valued at $3.34 billion this year, up from $2.94 billion in 2012. Anuvat Chalermchai, brand director of In this year’s first quarter, SCG Vietnam earned revenue of $133 million, impressively up 76 per cent on-year. This year SCG will market several new products and technologies in SCG’s latest innovations seen for first time in Vietnam include SCG Smartwood Modeena Series - “Style your wall unique”, which makes your walls distinctive as it embraces multiple layers within the same plank. SCG Smartboard Modeena Series is ideal for creating big dimensions for walls unlike any other wood substitute. András Somos, CEO of Hungary’s consulting firm SKC-Consulting also told VIR he was quite upbeat about business opportunities for SKC in Fears rise as credit flow slows to a trickle Experts have expressed concerns over the continued slowdown in total credit flow since the end of June. Total credit growth as of July 18 marked a new low of just 3 per cent while growth for the year’s first half increased just 3.52 per cent against the figure for the end of 2013. The Hanoi Statistics Office estimated July’s outstanding loans equalled VND927 trillion ($44 billion), down 2 per cent against the year-end of 2013. The figure for the first half of 2014 was announced at VND967 trillion ($46 billion) – a rise of 2.4 per cent in comparison with the 2013’s year-end figure. “Credit growth in July will be much lower than the previous month,” said a local bank leader who declined to be named. Nguyen Hoang Minh, deputy director of State Bank of Vietnam (SBV) branch in Minh revealed that the city’s credit volume rose 2.84 per cent in the first half. About 40 per cent of the $0.74 billion contracted with 700 businesses was successfully disbursed within June and July. The fast downward trend in credit growth has been blamed on weak market demand and supposed ‘adjustments’ by banks in their released figures. “The economy is still facing a lot of challenges, ranging from weak demand to modest capital-absorption capacity, leaving credit growth at a low level,” said Vo Tan Hoang – Saigon Commercial Bank’s general director. Under data published by the Ho Chi Minh and Hanoi Statistics Offices, the consumer price index (CPI) in July rose only 0.12 per cent and 0.18 per cent month-on month, respectively. An anonymous deputy director of a bank also suggested massaged figures weren’t uncommon in the banking sector. “Banks often provide more positive figures for their first-half reports, the real figures might not be so positive…the rebalance in July could account for the downward trend,” he added. According to another financial expert, part of the reason for a slowdown in credit growth might stem from interbank transactions, which only offers improvement to the bank’s individual results, not the sector’s actual growth. “In fact, the SBV had announced an on-year fall of 2 per cent in the whole fund balance, with this first half figure at only VND18 trillion ($0.86 billion),” said the expert. SBV Governor Nguyen Van Binh earlier admitted that the year-end target of 12-14 per cent growth would be a major challenge for the sector. He added, however, that there was an official determination to achieve at least 10 per cent growth. SBV urges banks to boost lending The State Bank of Vietnam (SBV) has told local banks, foreign bank branches and rating agencies to improve their capacity of assessing creditworthiness so as to boost loans without collateral. In Document No. 5342 recently released, SBV urges local banks to adopt solutions to help enterprises gain easier access to more capital to spur production. The document is aimed at realizing the Government’s Directive No. 11 on solving difficulties faced by the corporate sector and promoting production and business development, according to Vietnamplus.vn. Banks are told to actively approach companies in need of capital, support them in finalizing loan applications and expand lending to major projects in priority sectors. Priority sectors include agriculture and rural areas, exports, small and medium enterprises, and supporting industries. The central bank also asks corporate rating agencies and internal creditworthiness bodies at credit institutions to build a comprehensive and consistent creditworthiness assessment system, thus simplifying paperwork for loan application processing and boosting lending to enterprises without assets used as collateral. Besides, banks must speed up restructuring of their finance leasing firms by helping them improve governance and extend loans to enterprises. The central bank reported the overall credit growth in the first six months was only 2.3%. The banking system now has five more months to achieve 12% credit growth as targeted. In Directive No. 11 issued in May, Prime Minister Nguyen Tan Dung noted that enterprises are facing many difficulties and challenges. Therefore, the Government told ministries and local authorities to create mechanisms for close and effective coordination among State agencies, further step up administrative reforms, especially those in the fields of market entry, import and export, access to capital and credit, tax, land, investment, construction, natural resources, environment and labor. The moves aim to create the most favorable climate for enterprises. Dragon fruit has greater chance of going abroad The Plant Protection Department is cooperating with local scientists in a study on sterilizing male flies which harm the dragon fruit. Male flies will be irradiated in laboratories before being released into the environment, which make them infertile, meaning they could not reproduce offspring when mating with female ones. To ensure the success of the method, scientists will make a calculation on the number of male flies living in the environment in order to release a greater amount of infertile male flies to compete with natural ones. Le Duc Khanh, head of the Division of Entomology under the Plant Protection Department, said that the method helps prevent dragon fruit from melon fly disease without using insecticide. In 2013, only 2,600 tons of 400,000 tons of dragon fruit were exported to the Vinafruit said a kilo of dragon fruit exported to those selective markets is paid several times higher than to For instance, dragon fruit must be irradiated before delivery to the U.S or must undergo heat treatment before being shipped to Up to 90% of dragon fruit harvested in According to Vinafruit, to diversify export markets of dragon fruit, melon fly disease must be eliminated. Therefore, local farmers expect the new method from scientists would help the fruit go to more markets. Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR |
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Article 10
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Key coffee importers included Germany and the US with Belgium
In recent years, coffee has been one of Vietnam
Currently, Vietnam Vietnam
According to a recent report on exports by the Ministry of Industry and Trade (MoIT), Vietnamese coffee has sharpened its competitive edge thanks to favourable climate conditions, lower-cost production and a bumper coffee crop. However, product quality remains low due to out-dated harvest technology and poor processing facilities.
Additionally, Vietnamese coffee suffers from lack of brand name recognition as local exporters’ marketing skills are still limited and over 90% of coffee products are essentially raw unprocessed materials with low added value, MARD reports.
With such disadvantages, Vietnamese coffee’s export price is lower than the world’s average. Nevertheless, thanks to its firm foothold in the global market, Vietnam
Technology upgrade – a must
Economists suggest Vietnam
Nguyen Thi Thu Hang, a senior advisor in export evaluation and capacity building for small-and-medium-sized enterprises, raises her concern over the shrinking coffee cultivation area as aging coffee trees are becoming prevalent and irrigation networks stay outdated, she says.
the local coffee industry should increase product quality by investing more in research, post-harvest technology, and processing facility. It is also equally essential to apply sustainable standards for coffee production and supply high-quality products on request despite low consumption, she says.
Other experts recommend the industry more effectively control coffee growing areas to avoid an imbalance between supply and demand. Coffee farmers should also be required to follow a strict protocol to meet rising requirements of consumers.
The general consensus of industry experts is sustainable coffee export growth will only be achieved if domestic coffee producers, processors and exporters, increase product quality in line with international standards.
VOV
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Article 9
After four years of preparation, Ha Huyen founded the largest channel featuring Vietnamese food on YouTube, called Helen's Recipes (Vietnamese Food). It has had over 20 million hits, mostly from foreigners, on YouTube.  Ha Huyen (left) and Ha Uyen learn how to make banh can (can cake) in Da Lat. After years of study in Singapore, Germany, Japan, and Australia, the two sisters born in the central city of Da Nang, Le Ha Huyen (Helen Le, 30) and Le Ha Uyen (Summer, 26), decided to spend time promoting the special dishes of Da Nang and other areas of Vietnam to international friends. Ha Uyen is also the owner of the website danangcuisine.com with about 20,000 hits per day. While studying business administration at the At that time, there was almost no website in English about Vietnamese dishes. Ha Uyen emailed her sister - Ha Huyen – who was studying MSc at the During her five years studying overseas, Ha Huyen was also asked similar questions by her friends. Therefore the two sisters decided to design a website promoting Ha Uyen, who has good English language skills, opened a blog, which became a website in 2011, writing comments about In 2011, Ha Huyen joined her sister by opening a YouTube channel, where she posts video clips guiding foreign viewers how to cook these dishes. "Find the lost part of my life" “We mainly process simple dishes so foreigners can cook them. But sometimes we make sophisticated dishes to make the show more interesting," Uyen said. From early 2014, the sisters began earning advertising revenue from their channel and website. Previously they maintained these addresses with their own money. Huyen and Uyen recalled the stories, which are the driving force for them to maintain their YouTube channel and website. Adele Hoang Diep, a 16-year-old Vietnamese-born girl in the A Korean girl whose husband is a Vietnamese wrote to Huyen and Uyen: "The relationship between me and my mother-in-law was not good, perhaps due to cultural differences. But since I was guided by you to cook Vietnamese cuisine, the relationship between us has got better. We watched your video clips and cooked together. I feel the cultural differences can be resolved by dishes." The sincere emails moved the sisters and became a driving force behind their desire to maintain their Youtube channel and website. Uyen has returned to After work, Uyen takes foreign visitors to sidewalk restaurants in Recently, an Australian visitor showed Uyen newspaper articles that had included the addresses of restaurants in Uyen took the Australian man to a sidewalk restaurant that served steamed glutinous rice and chicken and told him the story behind the cuisine: the Vietnamese always honor the ancestors and they offer steamed glutinous rice and chicken to their ancestors. Uyen also told foreign visitors about the stories behind other dishes like banh beo, banh chen, banh nam and others. Uyen said she had to read a lot of books and meet with older people to listen to their stories about Vietnamese food. Ha Huyen works in Huyen said: "I want to attract international friends to T. Van, |
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Article 8
Vietnam struggles to find pork, poultry export markets With an annual growth of from 5-6%, Currently, "One of the biggest challenges for the animal husbandry industry has been finding outlets. In the next few years, production in this sector is expected to not only meet domestic demand, but create a surplus,” said Hoang Thanh Van, director of the Ministry of Agriculture and Rural Development’s Department of Animal Husbandry.  Ngo Thanh Van, director of MARD’s Department of Animal Husbandry Under the country’s strategy for the development of the industry through 2020, However, the country is currently facing difficulty to assuage food safety concerns in foreign markets. In some cases, certain banned antibiotics are still found in pork and chicken. Some producers use banned substances in animal feed production or during animal feeding process to increase productivity and increase profits in the short-term. M. Gandhi, managing director of UBM ASEAN said, “If Vietnam wishes to export meat, it will be necessary to improve the control over use of antibiotics as well as comply with the food safety and biosafety regulations of importing countries.” He noted that VIETSTOCK 2014, an industry conference to take place from October 15 to 17 in  Better controls over antibiotic use needed The organising board will also prepare 14 Vietnam Animal Husbandry Awards for those who have made contributions to the industry’s development. Concerning the antibiotics issue, Nguyen Xuan Duong, deputy director of the Animal Husbandry Department, said they considered monitoring and supervision over the use of banned substances in animal husbandry an ongoing process. “We’re intensifying inspections in six localities with the highest risk, including By Thao Nguyen, dtinews.vn |
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Article 7
Vietnamese rice exporters face risks in US market  Local newspapers have quoted Lawyer Ngo Quang Thuy as reporting that the US House of Representatives’ Finance & Tax Committee, unofficially representing USRPA (the US Rice Producers’ Association), on May 15 filed a petition to the International Trade Commission (ITC) requesting an investigation of the competitiveness of rice imports against domestic rice. On June 17, the commission released a decision to begin an investigation. It is preparing a report on the risks for After the investigation ends, the Thuy said he can see some worrying problems when considering the rice import prices from ITC documents show that the average import price from Nguyen Van Don, director of Viet Hung Company Ltd, said he is concerned that the According to Professor Vo Tong Xuan, the best-known rice expert in In 2013, The attractiveness of the Analysts commented that by selling rice cheaply, Most recently, The average price Xuan noted that Vietnamese enterprises should not try to sell rice cheaply to attract more buyers. In fact, this policy has done more harm than good. Dat Viet |
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Article 6
Vietnamese app developer Dong Nguyen revives Flappy Bird, as promised  The interface of Flappy Birds Family on Amazon Fire TV Courtesy of Amazon.com Vietnamese game developer Nguyen Ha Dong, also known as Dong Nguyen, has kept his words by bringing the Flappy Bird game back to life, but this time only on the Android app store of Instead of appearing on mobile platforms for smartphones as before, the new Flappy Bird app – renamed Flappy Birds Family – is only available for downloading from the Android app store and play on Amazon Fire TV, which is a digital media player that allows users to play video games with the included remote, through a mobile app, or with a game controller. Gamers must use the set-top box of Amazon Fire TV to stream the game from the market and play it with remote controllers connected to the TV like playing traditional console games. In addition, as the game is only compatible with Amazon Fire TV, there is no option of playing Flappy Birds Family by touching on the touch screen as before. Following Dong Nguyen’s statement on the revival of the Flappy Bird game in May, the Flappy Birds Family app has a new multi-player mode and some new changes to make it more fun to play and to compete between gamers. Regarding its gameplay and interface, the new version almost has nothing different than the original, as players also have to control the bird to fly through the water pipes. But now besides those old obstacles, players must avoid ghosts hovering in the sky. Additionally, gamers can now choose the appearance of their bird. Besides, when choosing the two-player mode, the interface of the game will be split into two screens on the TV for two separate players to compete in order to see who achieves the higher scores. “Flappy Birds now are on Amazon Fire TV with incredible new features: Person vs Person mode, more obstacles, more fun and still very hard. Enjoy playing the game at home (not breaking your TV) with your family and friends,” Amazon writes about the new game on its website. The time when the new version will be available on Apple’s App Store and Google Play has yet to be unveiled. In May this year, the information about the resurrection of Flappy Bird quickly caused a stir in the world of technology and gamer communities. This suggests that Flappy Bird is still a hot game, though it was officially pronounced "dead" half a year ago when Dong Nguyen decided to pull it down from App Store and Google Play. The game started to become a global phenomenon in late 2013 and early 2014, which led to the unexpected popularity of its author. It created a pressure of fame on Dong Nguyen and drove him to make a surprise decision of getting rid of the game from the two electronic stores in early February, while the game was still very popular back then. At that time, it was reported that the Vietnamese app developer living in At the height of the Flappy Bird craze, a solid 20 or so of the top 100 apps on the iOS store were Flappy Bird clones, and that remained true even after the original came down, the Wall Street Journal reported. Tuoi tre news |
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Article 5
BUSINESS IN BRIEF 4/8 Scooters to take bigger motorcycle market share Motorcycle producers have projected a bigger market share for scooters in The market share for scooters is estimated to increase to 40-42% of Hoang Ha, director of marketing at Yamaha Motor Vietnam in the northern region, said the domestic motorcycle market in general has not performed well as the demand for manual gear-box motorcycles tends to go down but scooter sales still fare well, especially the fashionable high-class models. As many as 2.5-2.8 million motorcycles were sold in According to motorcycle producers, more local consumers prefer new luxury scooters. Piaggio Costantino Sambuy, general director of Piaggio Piaggio aims to produce and assemble 300,000 scooters in Yamaha has recently unveiled its new scooter Nozza Grande 125cc priced at VND40-42 million a unit to compete with Honda Vietnam’s scooters including SH Mode and Lead 125cc and even the scooters of Piaggio Suzuki Motorbike manufacturers said in addition to prices and designs, local consumers also pay much attention to fuel efficiency given the rising fuel prices in Sugar firm cuts strategic deals with three partners Major sugar producer Thanh Thanh Cong (TTC) Group on Monday signed strategic cooperation agreements with three big foreign enterprises –PepsiCo Vietnam, ED&Fman Group, and Pegas Touristik Company. TTC Group and PepsiCo Both parties hoped these new products would help the beverage company reduce cost and shorten its production process. In cooperation with AD&Fman Group, TTC Group will be able to distribute its products to foreign markets. In the deal with As Pegas Touristik has plans to bring 250,000 Russian passengers to TTC is now a large private corporation with 20 subsidiaries and associated companies. It is active in such sectors as tourism, real estate, sugarcane and financial investment. Total revenue of this group amounted to VND6.5 trillion in the first half of this year, up 14% compared to the same period of last year. In particular, the sugarcane sector contributed VND5.4 trillion, while its tourism business generated VND350 billion. Vietnam Airlines obtained pre-tax profit of some VND100 billion (around US$4.7 million) in the first half of this year while all of last year saw the carrier achieving a staggering VND533 billion. The airline said in its updated report that its total revenues neared VND28 trillion in the period, 48.5% of the year’s target. The corporation carried more than eight million passengers on 62,088 flights, up 8.5% over the same period last year and 0.5% higher than its target for the first six months. The number of passengers on the airline’s international flights accounted for over three million, up 10% versus the same period last year, and the guests on its domestic services increased 7.6% to more than 4.95 million and 2.3% higher than its target for the January-June period. The national flag carrier said a number of its international flights were affected by Vietnam Airlines will focus on restructuring and equitization plans as well as service improvement in the second half of this year. Lotte Mart to sell Vietnam goods in S.Korea South Korean retailer Lotte Mart is proceeding with plans to sell aquatic and seafood products, cashew nuts, coffee, apparel, footwear and other Vietnamese goods at its 107 stores in The plans to promote Vietnamese goods at Lotte Mart’s stores in The 10-day program is taking place at the Lotte Mart stores in Saigon South, Binh Duong and Dong Nai provinces until August 3. The event showcases as many as 100 Vietnamese products, including foods and beverages, household appliances and clothes among others. Hong said the program was aimed to build strong links between South Korean importers with local suppliers and survey Korean consumers’ demand for Vietnamese products in order to find appropriate items for export to the Northeast Asian market. The exhibition is co-organized by Cong Thuong (Industry and Trade) newspaper, Lotte Mart AIA AIA Vietnam Life Insurance Company Limited, or AIA Vietnam, obtained year-on-year growth of 40% in new premiums and 129% in value of new contracts in the first six months this year. The life insurer announced the business results on Monday. Stephen Clark, CEO of AIA Vietnam, credited the strong growth to heavy investments in the company’s sales team, diversification of services for customers and service quality. AIA Vietnam has opened more than 80 offices in 48 cities and provinces nationwide, and sold more than 350,000 contracts to policyholders. As of late June this year, the company had settled combined insurance payouts of over VND1.5 trillion (US$70.7 million) for 228,000 cases. Cheap Nokia phones still on store shelves Some retailers have announced to maintain Nokia’s low-cost phones, including Nokia 105 and 106 models, on their store shelves. The retailers confirmed they would continue selling the products normally in the coming time despite rumors that Nokia phones will not be sold on the local market from next month. Microsoft Mobile has also rejected the rumors. In the coming time, Nokia will focus more on smartphones but they will still produce Nokia X using Android operating system, Asha phones and feature phones. Earlier, some news sites reported that Microsoft Mobile would stop selling Nokia X running on Android operating system, Asha phones and feature phones from August. The news reportedly came from a distributor. According to the retailer, Nokia had sent an official notice to its agents. But in fact, Microsoft had announced to focus on Windows Phone and maintain feature phones such as Nokia Asha, Series 40 and Nokia X with limited volumes. Nguyen Bach Diep, CEO of FPT Retail, said the Nokia feature phones are still available in the FPT Shop network. However, smartphone sales are better than other products. Diep said she just read the information on some websites and Nokia Some retailers said that feature phones are an important segment of Nokia in According to FPT Shop, Nokia feature phones like Nokia 206, Nokia 106 and Nokia 105 were among the 10 best-sellers in the first six months of the year. Timatex takes legal action against city taxman Timatex Vietnam Co., Ltd. has taken legal action against the HCMC Department of Tax, claiming the department had wrongly imposed the contractor tax to the tune of nearly US$2.8 million from 2009 and 2012. The case attracted the attention of participants at a dialogue between authorities and foreign-invested enterprises in import and export fields in HCMC last week. Nguyen Minh Sang, who represented Timatex to present the case at the dialogue, said the HCMC People’s Court accepted the company’s case on April 2 this year but has not opened a hearing. Sang said the announcement that “Timatex no longer operates but has not closed its tax code” has made it difficult for the company to submit reports online and register personal income tax codes for its employees. Worse still, the announcement did exist on the Japan-funded Vietnam Automated Cargo Clearance and Port Consolidated System (VNACCS), which came online in HCMC on June 30, threatening the survival of Timatex as it has disenabled the company to import or export goods. Stockpiles built up at Timatex while materials could not be imported to process goods for the orders already signed with foreign clients. Reporting the situation to the HCMC Tax Department on July 1, Timatex had its tax code reactivated the following day but the company was unable to complete import and export procedures at Linh Trung Export Processing Zone 2 as the VNACSS system failed to get the update. Timatex reported the problem to the HCMC Department of Customs but the reply was that no one could intervene in the automated system, and the best way for the company is to wait for a couple of days to have its problem solved. Timatex’s tax code was activated on the VNACSS system on the afternoon of July 7 after the company had exerted effort to contact the HCMC Department of Customs and the General Department of Customs. The incident caused heavy losses for Timatex, Sang said. Therefore, Sang proposed the General Department of Customs publicize hotlines for businesses to seek assistance in addressing their problems. Customs agencies should have competent units in charge of solving the difficulties of enterprises effectively after getting their complaints or requests. ETF capturing investor attention ETF VFMVN30, “ETF is a brand new product, thus it is no surprise that it will be the center of attention,” said Chau Thien Truc Quynh, brokerage manager of VietCapital Securities. According to her, this new initiative is much likely to be well received since the VN30Index possesses three-fourths of the stock value being traded on the market. This group consists of 30 leading high-liquidity stocks owned by companies with the highest capitalization ratio in HOSE. Over the past three or four years, FTSE Vietnam Index ETF and The Market Vector Vietnam, which altogether capture a huge equity value of roughly US$1 billion, have been reported to account for significant market fluctuations early each fiscal quarter whenever they add or remove some sticker symbols in their portfolio charters. Quynh said, “The periodical restructuring and adjustment of the stock tickers in the group’s portfolio early each quarter are paving the way for new opportunities which are appealing to all investors.” “ETF is kind of brand new stuff, so it takes some time for investment gurus to get acquainted to the fund,” said Trinh Hoai Giang, deputy director of HCMC Securities Company. As a member of VN30 Index Committee, Giang said he can’t recall how many times identical questions have been raised by curious investors, something like “Why should I purchase fund certificates managed by someone else rather than running my own securities portfolios?” he added, “You might want to spend a huge bunch of money sewing your own clothes, yet there are similar items of outfit on the market sold at much lower prices.” His metaphoric comparison is drawn upon a reality. Over the past six or seven years, both individual and institutional investors in the domestic stock market have struggled desperately with just a few success stories. The starter of this year seemed fair with the VN-Index scoring nearly 100 points in Quarter 1, peaking at a record of above 600 points for the first time after four years. However, Ngo Cong Duc, a trader of HCMC Securities Company (HSC) situated at Duc has been consistently trading on the stock exchange for at least seven years, yet he is not an exception from the group of investors who have seen six profitless months in a streak, while during the same phase, VN30 made an impressive growth of 14%. Supposing that Duc had shifted his money into VN30, he would have now filled his pocket with VND14 million interest out of VND100 million investment thanks to the index fund escalation. ETF VFMVN30 is an exchange-traded fund that replicates at the closest extent possible to any changes of the reference index - VN30. ETF portfolio is somewhat proportionate with the component basket of VN30Index. In reality, VN30 has just edged down by 10% compared to its peak, a sharp drop caused by the Nguyen Dich Thanh, deputy director of HOSE’s R&D Department, says that the appearance of ETF as the first local exchange-traded fund is consistent with the flourishing trend of domestic stock market over the last 20 years. Most notably, ETF has registered a quantitative growth rate of 15 times, reaching 3,000 smaller inner funds by end-2013. ETF is so affluent thanks to its success in rectifying the typical limitation of liquidity faced by open-end funds and price discount commonly seen in closed-end funds. Stock trader Duc confirmed his interest in ETF, yet he is still hesitant. This investment psycho can be perceived in all stock exchanges though ETF training rooms are always full. Explaining this reality, Giang said individual investors tend to be cautious when it comes to new products even though fund certificates can ensure good profit if investors know how to pick them up at the right time. “HSC is investing in certificates VF1, VF4, and VFA, and we are earning initial profit of 60%.” Giang claimed that local investors will need some extra time to see what happens next, especially to the new local ETF. Foreign investors might be more interested in this product since there are not sufficient expat-investors in “Trading of such exchange-traded funds like ETF will become more bustling in the next five or seven years, yet we need to take actions now to tap future potentials of this new fund,” said Vu Bang, Chairman of the State Securities Commission of Vietnam, at a conference held early this year to address new solutions for sustaining local stock market development. Taiwan promotes products, brands in Vietnam The Taiwan External Trade Development Council (TAITRA) launched an international campaign in The Taiwan Excellence campaign highlights 45 brands in sectors such as information technology, household appliances, and sport and healthcare equipment, including Acer, BenQ, HTC, Transcend, Caesar and Kymco. The campaign is part of Local consumers will have the opportunity to try Taiwanese goods. The first event was organized at Statistics from the Ministry of Planning and Investment showed that Thanh Hoa road needs additional financing State-run Ngo Viet Hai, general director of Power Generation Corporation 2 (EVNGENCO2), investor in the hydropower project, said the plant’s timetable cannot be achieved if the road is not finished before the end of May next year. According to Vice Chairman of the Thanh Hoa Provincial People’s Committee Nguyen Ngoc Hoi, flooding caused by the construction of the Trung Son plant forced the committee to change the road’s route, which lengthened it by 6.2 kilometres. Currently the road needs VND578.2 billion ($26 million) in additional funding to reach completion. The state-run Electricity of Vietnam (EVN) and the Thanh Hoa Provincial People’s Committee have several times warned the prime minister and ministries about the problem, to which they have given no answer. A representative from EVN, at a recent meeting between Chairman of the Thanh Hoa Provincial People’s Committee Trinh Van Chien, the group and the World Bank (WB), said that EVN was facing difficulties providing the needed capital to the Thanh Hoa plant, as it is also having to borrow money for its own investment. As for the country director of the WB in Vietnam Victoria Kwakwa, she said the state could use $26 million out of a recent WB’s $200 million loan provided to the country. Another solution she proposed was to provide Thanh Hoa a new loan to finish the road, but said the lending process was overly time-consuming. Chien said EVN’s representative has agreed to ask the prime minister and other authorities to arrange the needed capital. The 260 megawatt Trung Son hydropower plant started construction in 2012 and is expected to operate in 2017. It has the total investment capital of $410.68 million, including a $330 million WB loan and the remainder from EVN. Banking experts advocate M&A drive Cross ownership and excessive ownership has put banks into deep hardship and M&A seems to be the only way out. According to the State Bank of Vietnam (SBV), small-scale, weak banks will be merged in the near future to reduce the total number of banks in the country to 20-25. “To best compete, banks should unite in developing technology, personnel, and also management model,” said SBV former governor Cao Sy Khiem. M&A can help prevent manipulation through cross ownership and excessive ownership in banks,” he added. Joining Khiem, banking expert Huynh Buu Son said “M&A is one way to buy us more time, and we have to act now.” According to Son, total individual customer deposit capital is now eight to ten times that of shareholders’ capital. “We need to respect the capital we use. It belongs to the citizens,” Son underscored. Under the Law on Credit Institutions 2010, the ownership rate is capped at 5 per cent of the chartered capital for individual shareholders, 20 per cent for affiliated shareholders (often family) and 15 per cent for organisational-based shareholders. However, over the three years since the law came into effect, major shareholders of many banks have been discovered violating the regulation on ownership limitations, reported the SBV. Five banks were found to have individual shareholders with over 5 per cent ownership, another five had organisational shareholders controlling larger than regulated stakes, and eight had affiliated shareholders controlling combined stakes that exceeded the 20 per cent cap. The SBV has requested that all banks, expect those with restructuring plans approved by the prime minister and SBV, eliminate excessive ownerships no later than March 31, 2015. If they do not meet this deadline, shareholders and groups will be forced to transfer their shares to the SBV and may lose their voting rights and the ability to stand for a post on a supervisory board. Additionally, the draft amendment to the Law on Credit Institutions 2010 forbade credit institutions from granting new credit to shareholders or groups with excessive ownership. Banks are also required to halt all transactions with the aforementioned. Son underscored, “We need a change from within, to respect banking regulations, business ethics, and also the money of the people. It doesn’t matter how many banks there are, it matters that they work.” Over 42,000 new enterprises established in seven months Nearly 42,400 enterprises were formed nationwide in the first seven months of the year, with a total registered capital of VND262.4 trillion (US$12.33 billion), down 7% in the number of new businesses and up 17.8% in capital compared with the same period of 2013. The average registered capital per newly established enterprise was VND6.19 billion (US$290,930), a year-on-year increase of 26.7%. Over 629,000 labourers are expected to earn employment at the new companies, surging 6.5% against last year. The period also saw 37,612 enterprises dissolved and suspending operations, representing an increase of 9.8% against the previous year. Of this, 5,610 enterprises were dissolved; 6,774 businesses temporarily halted operation with registration; and the remaining 25,228 ceased their operation in wait for payment of enterprise code or without registration. Total registered capital of those in difficulties which are bound to stop operation reached VND291.6 trillion (US$13.7 billion), accounting for 84.5% of the total capital supplemented during the period. As many as 9,428 businesses have resumed operation in seven months, decreasing by 6.4% against the same period last year. Promoting agricultural exports to Israel The Middle Eastern nation of Two-way trade turnover between According to the Vietnam Trade Office (VTO) in In the first six months of the year, The VTO in Vietnam Customs’ statistics reflect that agricultural exports to Major agricultural export products included seafood (US$42.4 million), coffee (US$25.9 million), cashew nuts (US$23.8 million), peppers (US$7.5 million), rice (US$5.9 million), rubber (US$3.2 million) and other products like vegetables and fruit, tea, cassava and sweet fennel (US$1 million). With a population of more than 8 million people, Last year, The country is also the third largest importer of seafood (around 20%), rice (16%) and rubber (7%) and the fourth largest importer of pepper (8%). The VTO in Once the political unrest and conflict in the region is dealt with effectively, The key to the prospects for enhanced cooperation with This provides a great opportunity for the two nations to cooperate in agriculture, and Experts are optimistic that In addition, the ministry has actively worked to expand export markets with Israel for agricultural and seafood products by reducing tax, opening market and removing trade barriers through negotiations on Trans-Pacific Partnership (TPP) agreement and the Vietnam-EU Free Trade Agreement (VEFTA). It has also enhanced opportunities for finding potential partners and markets for businesses and updating them with protectionism, trade barriers and trade lawsuits of import markets. Nielsen: The Vietnam Consumer Confidence Index reached 98 points in the second quarter of 2014, a slight drop from the previous quarter, as people were more concerned about personal finance and job prospects over the next 12 months, according to Nielsen. According to the latest global survey of consumer confidence and spending recently released by the global information and measurement company, only 44% of online respondents thought their job is good or excellent while more than half (53%) are positive at the same level about their personal finance. These numbers are both lower than the regional average at 65% and 62% respectively. The survey showed 38% of respondents thought this year will be good time to buy things they want and need. This proportion stays below the regional average (42%) and other neighbors such as Nielsen’s survey revealed that although Southeast Asian consumers remain among the world’s most optimistic, they have been less bullish in recent months in the face of escalating political instability around the region and rising food prices. Consistent with their cautious confidence levels, Nielsen said consumers in Eight in 10 Vietnamese respondents (79%) chose to save spare cash after covering all the essential living expenses, the highest rate over the past three years and much higher than regional average at 62%. Thai consumers are the most-committed in Southeast Asia to keeping an eye on their household expenses as more than nine in 10 (92%) have changed their spending in the past year to save on household expenses. In When it comes to keeping household expenses in check, limiting spending on new clothes is the most common focus for Southeast Asian consumers, along with cutting down on out-of-home entertainment and trying to save on gas and electricity. “Together with a dramatic fall in the last six months within Fast-Moving Consumer Goods (FMCG) in Vietnam, this report once again gives us a very clear picture of how Vietnamese consumers react to the current economy as well as their concerns in the coming months,” said Vaughan Ryan, managing director of Nielsen Vietnam. “The sentiment remained relatively flat in the second-quarter report and we do expect the market sentiment to pick up towards the end of the year.” Established in 2005, the survey measures consumer confidence, major concerns, and spending intentions amongst more than 30,000 respondents with Internet access. Jan-Jul industrial index up 6.2% The index of industrial production (IIP) achieved a year-on-year growth rate of 7.5% in July and 6.2% in the seven-month period, Vietnamplus reports, citing a report of the General Statistics Office. According to the report, the processing and manufacturing industry recorded growth of 8.1% versus last year’s same period, and contributed 5.7 percentage points to the sector’s overall growth. It was followed by electricity generation and distribution with 11.4% growth and 0.8 percentage point, and water supply, waste and wastewater treatment with 6.5% growth and 0.1 percentage point. However, mining was in decline in the period with a 1.7% drop. Industries posting high year-on-year growth also included the manufacture of electronic, computer and optical products at 34.9%; motorized vehicles 21.2%; leather and leather products 20.5%; and textiles 19.2%. Although production and consumption witnessed positive changes, the inventory index, as shown in the report, was increasing. On July 1, the inventory of the industry inched up 13.2% year-on-year, well above the 8.8% recorded a year ago, and the average inventory rise in the January-June period was 77.2%. Pharmaceuticals, chemicals and chemical products and food processing were among those reporting high inventory increases in the period with 161.2%, 127.1% and 98.2% respectively. The number of newly established enterprises in the January-July period was 42,398 with total registered capital of VND262.4 trillion, down 7% in the number and up 17.8% in capital compared to last year’s same period. In July alone, there were 5,083 new enterprises set up with registered capital totaling VND31.518 trillion. However, the number of enterprises going bust and suspending operations in the first seven months was rather high, at 37,612, rising by 9.8% year-on-year. Social insurance files to get digitized All the social insurance files at the HCMC Social Insurance agency are expected to be digitized by the end of this year, said the contractor in charge of this digitization for the State-owned insurance agency. Khue Tu Company, the supplier of this digitization solution, said its online system currently can handle an average of 800-1,000 insurance files daily. The company said it is now turning over the system to the authorities of the city’s social insurance agency. This project was introduced on a trial basis at the end of last year and has been put into operation this July. As planned, all the social insurance files stored at the agency will get digitized by the end of this year. It is estimated that the headquarters and other agencies located in the city’s districts are holding millions of social insurance files. The social insurance sector will also assemble all the data over the Internet so that policyholders in the upcoming time can visit the website and check their data online. In Vietnam, the procedures, documents and benefits of social insurance that are often described as inconvenient due to the poor information technology application have caused numerous obstacles to beneficiaries. Bank reassures depositors after senior execs arrests Vietnam Construction Bank (VNCB) has reassured its clients that their deposits are guaranteed as the bank’s liquidity remains stable after its chairman and general director were detained by police. A source from the bank said with support from the State Bank of The HCMC branch of the central bank has assigned an inspection team, led by a deputy director of the branch, to monitor the bank in order to give timely assistance in case the bank has to deal with any unexpected events, another source told the Daily. The team has worked with other local lenders to prepare enough cash in case VNCB customers want their deposits back, it said. However, the bank has made efforts to keep its customers and so far just a few have made withdrawals. On July 28, the VNCB board decided to remove chairman Pham Cong Danh and general director Phan Thanh Mai from their posts. One day later, Ministry of Public Security investigation police detained Danh, Mai and Mai Huu Khuong, a former member of the bank’s board, according to the State Bank of The three former executives were accused of intentionally violating State regulations on economic management causing serious consequences at the HCMC-based Thien Thanh Corporation in accordance with Article 165 of the Criminal Code. Before the arrests, Danh, born in 1965, had also served as chairman of Thien Thanh while Mai, born in 1971, had been general director of the company. The central bank has recently approved new senior executives for the bank. Vu Bach Yen, member of the bank’s board since February 2012, is now new chairwoman while Dam Minh Duc, former deputy general director of the bank, has taken up the post of general director replacing Phan Thanh Mai. Viettel distributes iPad in Vietnamese telecom firm Viettel started on July 30 to distribute iPads in Viettel sells iPad Air Cellular and iPad mini Retina Cellular at its stores nationwide. This is the first time a local mobile service provider has cooperated with Apple to distribute iPads on the domestic market. Viettel and another local major mobile service provider, VinaPhone, have been authorized as iPhone distributors in A source from VinaPhone told the Daily that it does not have plans to distribute iPads in Besides Viettel, iPads are also sold on the local market by FPT Group, which has been in partnership with Apple since 2005. FPT started with distributing iPads, Macbooks and iPods to electronics shops in The group has set up its F.Studio shop chain in the three levels of APR (Apple Premium Reseller), FPT said revenues of Apple products at its F.Studio and iConner rise 30% annually. Buyers of Apple products sold via official distributors are granted a 12-month warranty. Traffic congestion sends commodity prices up Prolonged congestion on the road leading to Phu My Bridge in HCMC’s District 7 and mounting backlogs at Trinh Chau Khanh, director of Kim Loi Minh Transport Company, told the Daily that he has received a lot of complaints about late deliveries from export and import firms. According to Khanh, his company’s goods delivery is now one hour later than usual due to traffic congestion on Phu My Bridge. With each hour of congestion, a truck with two containers consumes an additional 20 liters of oil, let alone other costs. Do Xuan Phu, director of Minh Lien Transport Company, shared this point, saying many of his clients have complained about late deliveries. “Export and import firms do not need to know about transport infrastructure but only care about delivery schedules.” Phu added his company could deliver two containers of goods in one day in the past but the volume is halved now due to congested roads. Congestion not only pushes up costs but also pushes down revenues by 30% as the company has to cover fuel costs. He also expressed concerns that the deteriorating quality of Mai Chi Tho Street and the eastern ring road could further aggravate congestion. Regarding the rising backlogs at Cat Lai Port, Gia Long Company director Tran Viet Tien said his company had to bear many additional costs arising from materials to storage. As a result, business associations in HCMC and neighboring areas should raise their voice about the increasing fees of container storage at the port to cope with the difficulties firms are facing, and policies should be revised consistently, he said. As costs keep rising, enterprises and consumers are the ones who suffer, said Nguyen Lam Vien, general director of Vinamit Company. Ho Hoang Bao Vinh, director of A Dong Transport Trading Company, said that when the storage fee at the port goes up, the company has no choice but to increase commodity prices correspondingly to ensure their profit margins. New business startups not appealing to fund managers Two foreign investment funds Monk’s Hill Ventires (MHV) and Media Partners (DMP) at a recent screening seminar were unable to find new business startups in Tech In Asia Arena, which organized the seminar, chose six out of 32 newly-established enterprises to introduce themselves to DMP and MHV. Hannah Nguyen, representative of DMP, said there were many factors influencing her fund’s investment decisions, especially revenue and potential development of the chosen companies. Firstly, the annual revenue has to reach US$700,000. This revenue is calculated by multiplying the most recent three-month revenues by four. Secondly, the companies’ operations must have been stable at home and suitable to expand abroad. In addition, their management boards must have the ability to control all operations in case of their directors’ absence. However, all applicants failed to meet the two funds’ requirements. Six business startups presented at the conference included Triip, BabyMe, Cloudjet Solutions, Direct Data, VES – Clean Tech for Life, and Kool Things. Among the above firms, Triip, a local travel company, could not meet these stringent conditions due to its low revenue and unstable business development though experts highly appraised its presentation. Gwendolyn Regina T, representative of Tech In Asia, said the chosen projects had to meet three following requirements, namely a suitable business model, extensive distribution channels, and commercialization of the projects’ products. Gwendolyn added most of projects were just the young’s business ideas, which have not been implemented in reality. PVCFC proposes gas price cut PetroVietnam Ca Mau Fertilizer Company Limited (PVCFC) is seeking Government support for reducing the gas price for fertilizer production after its equitization this year, with an aim to shorten the capital recovery period and help the company cope with difficulties. The proposal was made by Bui Minh Tien, general director of PVCFC, when a Government delegation led by Deputy Prime Minister Vu Van Ninh had a working visit to the gas-power-fertilizer industrial complex in Ca Mau Province Tuesday. According to Tien, the fertilizer price has been going down while PVCFC has had to pay high interest for bank loans since it started operations two years ago, chinhphu.vn reports. The fertilizer producer is expected to launch its initial public offering in the fourth quarter before becoming a shareholder-held concern. Deputy Prime Minister Vu Van Ninh applauded PVFC’s efforts in equitization but stressed that the gas price should be driven by market forces. Ninh said that during the initial period after the IPO, the Government would hold a majority stake but gradually decrease its ownership at the enterprise. The US$2-billion Complex of Gas - Electricity - Fertilizer in U Minh District in the southernmost The PM3-Ca Mau gas pipeline with an annual capacity of two billion cubic meters of gas has transported ten billion cubic meters to Ca Mau 1 and 2 power plants and Ca Mau urea plant. Total revenue has reached some VND34.7 trillion. The gas-fired Ca Mau 1 and 2 power plants, which were commissioned at the end of 2008, have generated 48 billion KWh for the national grid. Ca Mau urea plant has a designed capacity of 800,000 tons of urea a year. After two years of operation, the factory has turned out more than 1.7 million tons of fertilizer for agricultural production, generating more than VND13.8 trillion. Especially, the total investment of this project was US$700 million, US$200 million lower than the original estimate. Vingroup to open new center in Halong Vingroup Joint Stock Company will open its new Vincom Center Halong on October 19 as a shopping and entertainment complex meeting international standards in With four stories and one basement, Vincom Center Halong is built on a total area of nearly over 3.7 hectares modeled after the European royal architecture. A highlight of the center is an ice-rink measuring 830 square meters, which can serve up to 100 ice skaters at a time. Other attractions in this new facility include a gaming center with hundreds of slot machines and a playground for children along with seven studios for cinema lovers. The fashion center and supermarket are two other noteworthy facilities at Vincom Center Halong. Covering an area of more than 900 square meters, the fashion center features products of renowned domestic and international brands while the 3,500-square-meter supermarket offers essential goods for consumers. Vincom Center Halong is the first shopping mall and entertainment center outside With three Vincom trade centers and two Vincom Mega Malls in HCMC and After its Vincom Center Halong, the group will continue to expand its retail system to other cities and provinces, with Source: VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VIR |
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Article 4
Banks hold more risk funds
HA NOI (VNS) - Some commercial banks had more risk provision funds than before to secure the banking system and fight bad debts, State Bank of According to Thoi Bao Kinh Doanh (Business Times), An Binh Bank's Q2 financial report showed that the bank raised the sum for risk funds in H1 this year by 10 times to VND107.64 billion (US$5.1 million) from VND11.54 billion ($540,340) in H1 last year. The larger risk funds trimmed An Binh's pre-tax profit in H1 by 80 per cent to VND170.35 billion ($7.997 million) from VND214.36 billion ($10.06 million) in the same period last year. Vietcombank, one of the country's largest four banks by assets, spent merely half of pre-tax profit, equivalent to VND2.4 trillion ($108.6 million), to build risk provision funds in the first six months of this year. VIB transferred 75 per cent of pre-tax profit, or VND447 billion ($21 million), to risk funds in H1. "If banks insist on credit growth by any means without proper risk provisioning, they will have both bigger profit figures and higher risks at the same time," said VIB's general director Han Ngoc Vu. Market observers said that although several banks spent more on risk provisioning, they could not precisely describe the system. However, these moves indicated an increasing attention of credit institutions to ongoing bad debt problems. The bad debt ratio in Vietnamese commercial banks rose in the first half of the year to 4.84 per cent by late June 2014 from 3.61 per cent by late 2013. The SBV reported last week that total bad debts stood at VND240 trillion ($11.3 billion). Experts said that the motivation behind the banks moving toward risk provisioning was to get themselves more prepared ahead the official implementation of new debt regulations in Circular No 09/2014/TT-NHNN by the central bank. The circular on the classification of bank assets, setting up of risk provisions, and use of provisions against credit risks forces an increase in risk provisioning. The document allowed banks to continue restructuring existing loans and keep them in the same debt group until April 1, 2015 instead of reclassifying them using more rigorous standards by June 1, 2014 as planned previously. In While the Government, the State Bank of The central bank in the document No 5342/NHNN-TTGSNH dated July 24 urged the Credit Information Centre (CIC), corporate rating agencies, and internal creditworthiness bodies at credit institutions to build up a comprehensive and consistent creditworthiness assessment system. The SBV said that a better creditworthiness rating system will simplify paperwork of loan applications and improve the capacity of lending enterprises without assets as collaterals. The move was made keeping in mind |
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Article 3
Political News 4/8 Vietnam eager to spur cooperation with Zimbabwe At a recent ceremony to present his credentials, Hoang extended an invitation to visit The Vietnamese diplomat briefed his host on the situation in the country, international integration and recent developments in the Hoang asked the Zimbabwe Government to recognize For his part, President Mugabe expressed his admiration for the courageous spirit of the Vietnamese people in the past struggle for national liberation, independence freedom and unification as well as the current tremendous achievements in national construction and defence President Mugabe said he hopes both nations will continue bolstering good political relations and economic and trade cooperation by intensifying goods exchange and implementing tripartite agricultural and health cooperation projects in Zimbabwe as Vietnam is successfully carrying out in many other African countries. Mugabe voiced support for Earlier, Minister Mumbengegwi said he wants the two countries to further enhance coordination at international and regional forums including the Non-Aligned Movement and the United Nations. He promised to work with relevant agencies to consider On the occasion, ambassador Hoang had working sessions with a number of Vietnam urges respect for ceasefire agreement in Gaza Binh made the statement while answering reporters’ questions regarding “We support all current efforts of the international community to early bring about a comprehensive ceasefire for peace and stability in the region,” he stated. Party leader visits Ha Party General Secretary Nguyen Phu Trong on August 2 had a working visit to the Working with the provincial leaders, the Party leader said Ha As a southern gateway to the capital city of Party leader Trong asked Ha He also urged the local authorities to well prepare for Party congresses at all levels towards the 12 th National Party Congress in early 2016. The province should continue to well implement the Party and political system building work as well as creating a strong and united apparatus that can be resilient to negative phenomena, particularly corruption, the Party chief noted. According to the local authorities, Ha The living standards of locals have much improved while the new rural building programme has seen remarkable developments with three communes fulfilling all targets and 11 communes meeting 15 criteria. Earlier, the Party leader visited Binh Luc district’s Vu Ban commune, where 85.5 percent of population live on agriculture, and the Number 1 Ha Lawyers’ role should be enhanced to avoid unjust rulings President Truong Tan Sang on August 1 emphasized the need to improve the operational efficiency of lawyers’ organizations at a working session with the Vietnam Bar Federation (VBF) in Leaders from the Central Steering Committee for Judicial Reform, the National Assembly Justice Committee, the Ministry of Public Security, the People's Procuracy, the Supreme People's Court and the Ministry of Justice were also in attendance at the working session. VBF Chairman Le Thuc Anh said that since its inception in May 2009, the number of lawyers has increased by nearly 40% to 8,675 and 63 provinces and cities nationwide have established Bar Associations. Over the past five years, lawyers have become involved in defending and protecting the rights and legitimate interests of organizations and individuals and have dealt with nearly 67,500 criminal cases, over 54,000 civil cases, nearly 5,500 economic cases, and 4,423 administrative cases. In addition, the VBF has provided free legal aid to 31,271 poor and social policy beneficiaries. Lawyers have participated in 100% of cases required by legal agencies and the quality of defending counsel in the cases has been enhanced, Anh said. Along with its active participation in law-making work, the BAF has expanded cooperation with international bar organizations from In his speech, President Sang commended lawyers’ contributions to reducing unfair rulings and protecting justice, promoting judicial reform and improving the quality of litigation. He underlined the need for the BAF to work more closely with local agencies to well perform lawyers’ role in protecting the legitimate rights of the people, revamping the legal system and increasing wider international cooperation to become involved in resolving international disputes when the country is boosting deeper global integration. Party leader hails progress in Thanh Hoa Party General Secretary Nguyen Phu Trong has lauded the progress the central At a meeting yesterday with key officials from the province as part of his working visit, the Party chief noted that after four years of implementing the 11th Party Congress's resolution, Thanh Hoa had maintained a high economic growth rate at 11.3 per cent per year. As a result, the province's economy has expanded by 54 per cent compared to 2010, with the industry-construction sector accounting for 42 per cent, services - 39.6 per cent and agriculture - 18.4 per cent. Per capita GDP is estimated at US$1,320 per year. Last year, Thanh Hoa ranked eighth among 63 cities and provinces nationwide in FDI attraction and stood in sixth position in the provincial economic integration index and eighth in the provincial competitiveness index. By 2013, 19 communes in the province met all the standards of the new-style rural areas, while 10 others met a large proportion of the criteria. However, Trong also pointed out that the ratio of poor households in Thanh Hoa was still high, urging the province to work harder to fulfill its targets. The province should also get itself well-prepared for the 12th Party Congress, he added, stressing that Party building and personnel work were key to effectively implementing other tasks. Also yesterday, the Party leader toured the Nghi Son Economic Zone where he held a working session with the zone's management board, inspected the progress of the Nghi Son Refinery and visited the Nghi Son Port. Ceremony honours first victory of Vietnam People’s Navy A ceremony commemorating revolutionary martyrs and people who sacrificed their life in a sea battle in the The fight against destroyer USS Maddox and aircraft of the Speaking at the ceremony, Rear Admiral Dinh Gia That, Commissar of the Vietnam People’s Naval Armed Service underlined the historical value of and lesson learned from the incident, saying that the sacrifice of naval officers and soldiers is always a good example for Vietnamese generations at present and in the future. He also affirmed that the Naval Armed Service will continue strengthening its force as well as improving its capacity in managing and safeguarding the national sea and island sovereignty, while maintaining peaceful and stable environment in the country’s waters. The same day, a get-together to mark the 50 th anniversary of the first victory of the Vietnam People’s Navy was also organised in Vinh city, the central Participants at the event looked back on the triumph, which is considered as the traditional day of the Navy over the last five decades. On the occasion, representatives from the Navy High Command presented insignia to a number of naval ex-soldiers and gifts to people, who participated in the fight. Source: VNA/VOV/VNN |
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