Second home tax would hit property market Mr. Stephen Wyatt, General Director of JLL Vietnam, spoke with VET about proposals to tax the purchase of second homes.  ■ What are your thoughts on the idea of taxing second home purchases? The proposal to tax second homes has attracted a lot of attention. What we see from a property consultancy point of view that this taxation system has been introduced in a number of countries around the world. So it is fairly common process. In terms of bringing it to Vietnam, there will be complications, so we need to address a few issues. In Vietnam we do not have a computerized registry for land registration, where you can actually see who buys a property. So, if you are going to introduce a second home tax it is very difficult to trace who owns a property without a computerized land registry system. That’s one complication that needs to be considered going forward. In terms of the idea, I think its works in principle in other countries. It brings in revenue for the government but also affects the number of transactions in the real estate market. Generally, a tax on real estate buyers would have a positive impact on the market when a suitable tax system is applied. In principle, I think it is a good idea but there are a lot of steps to go through. ■ What would be a suitable tax rate for second homes? What rates are applied elsewhere around the world? I will give you two examples from around the world. Singapore shares many similarities with Vietnam. When you buy a property in Singapore you have to pay a 3 per cent tax. For second homes there is different rate. If you are Singaporean the rate is 7 per cent, for 10 per cent in total. If you are a foreigner, you will have to pay an additional 15 per cent. In the UK you pay a base tax rate for the first property and then an additional 3 per cent. But in the UK it is slightly complicated as it is based on the value of the property. You have different rates for different property values. There are many examples that could be studied. ■ It is difficult in Vietnam to determine what is a “second home” for taxation purposes. What is the solution to this? This is something that needs to be studied in detail. You could apply the Singapore model, which is basically adding a percentage on second properties to the normal tax. In the UK, properties valued under $250,000 are not subject to tax. Vietnam could apply a rate similar to Singapore, of 3 per cent. Any new tax legislation requires the involvement of relevant authorities and professional property market research companies, so that the implications are fully understood. Matters must be considered carefully before legislation is introduced. In Vietnam you need a land registry certificate and registration is all done via paperwork with local authorities. So it very difficult. If I buy a property in Vietnam, how can authorities know that I already own another property? I think that in order for this to work effectively you need a dedicated computerized system so you can see who owns property. It will be a challenge, as family members can combine different names when buying a property. ■ What will be the impact of this tax policy? Vietnam’s property market is moving ahead and is very active. There are many investments in the market in second homes or even third or fourth homes. Many people want to buy a second home, so this idea would slow down the second home market. We recommend that a lot of consultation takes place before a new tax is introduced. We need to fully understand the implications for the property market. VN Economic Times |
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Vietnamese banks to improve gradually in 2017: Fitch Transactions at a bank (Source: thebank.vn) Hanoi -Fitch Ratings has released a report forecasting that Vietnamese banks are set to improve gradually next year. Under the report titled "2017 Outlook: Vietnamese Banks," Fitch said an improving macroeconomic environment with the stable currency and benign inflation should counteract structural systemic weaknesses, which supports a stable outlook for Vietnam’s banking sector in 2017. Fitch expects asset quality, funding and liquidity to remain steady as the economy grows steadily. However, structural systemic weaknesses remain, such as thin capital buffers, large non-performing loans (NPL) stock and weak profitability. “We believe the NPLs will take time to be resolved due to various legal impediments. The understatement of problem loans in the low-reported NPL ratios across the system suggests that the capitalisation of banks is likely to be weaker than their reported capital ratios,” Fitch said in the new report. Banks reported that total capital-adequacy ratios were low at end-June 2016, at 12.1 percent and 9.3 percent for joint-stock commercial banks and State-owned banks, respectively. Capital buffers will also remain under pressure as Basel II is being phased in at a time when internal capital generation remains lethargic, according to Fitch.-VNA |
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Đồng-dollar exchange rate hits record high
HÀ NỘI – The State Bank of Việt Nam yesterday raised the reference VNĐ/USD exchange rate by eight đồng, taking it to a record high of VNĐ22,101 per US dollar. This is the highest rate since this year’s January launch of the new forex rate methodology using a central reference rate for the đồng/dollar daily based on an eight-currency basket and macro-economic conditions. Compared with earlier this year, the rate rose by 0.96 per cent. The US dollar has been strengthening against the đồng, both on the official and unofficial markets, after the US presidential election result was announced on November 9. Domestic commercial banks this week alone increased the đồng/dollar rate by up to 90 đồng. Currently, commercial banks are allowed to trade the dollar at +/-3 per cent on either side of the reference rate, or between VNĐ21,423 and VNĐ22,749. Commercial banks yesterday continuously revised upwards their offering prices by 50 đồng against the previous day, listing the selling rate at between VNĐ22,465 and VNĐ22,500. With a rise of 50 đồng for selling against the previous day, the Asia Commercial Bank (ACB) listed the dollar at the highest rate of VNĐ22,500 among all commercial banks. Sacombank also raised the US dollar prices by 40 đồng against the previous day, both for buying and selling, to trade the dollar at VNĐ22,400/VNĐ22,480, respectively. Vietcombank also increased the rate by 50 đồng and 40 đồng for selling and buying against the previous day, listing the rate at VNĐ22,395 and VNĐ22,465. The buying/selling rate listed at the Bank for Investment and Development of Việt Nam (BIDV) was also high at VNĐ22.410/VNĐ22.480. In the global market, the dollar index, a measure of its value against a basket of currencies, rose to 100.53 on Wednesday, its highest since April 2003, according to Reuters. The dollar also rose 0.5 per cent against the yen to a five-month high of 109.75 yen, rose to an eight-year high against the Chinese yuan of 6.8703 yuan and the euro fell below US$1.07 for the first time in a year. Đào Văn Hùng, member of the National Financial and Monetary Policy Consultation Council and director of the Ministry of Planning and Investment’s Policy and Development Institute, attributed the strengthening of the dollar against the đồng to investors betting that US President-elect Trump’s plans to cut taxes and boost infrastructure spending would boost economic activity while his proposals to deport illegal immigrants and impose tariffs on cheap imports are seen driving inflation higher. That prospect has given rise to expectations that US interest rates will rise faster than previously anticipated. Meanwhile, dollar demand in the domestic market is high, as local firms need more foreign currencies to pay their import bills at year-end, he said. Despite the strengthening of the dollar against the đồng, Hùng said, demand and supply sources of the dollar on the domestic market remain stable, adding that the exchange rate therefore sees no significant pressure. According to Hùng, the impact of the strengthening of the dollar in the global market on Việt Nam’s forex market has not been significant as Việt Nam hasn’t been fully open its financial market. In addition, compared with the currencies of Việt Nam’s large trade partners, the đồng/dollar exchange rate is currently reasonable and has not had a negative impact on the country’s trade competitiveness, Hùng said. Hùng forecast that the domestic forex market would see no significant pressure at year-end thanks to the rising foreign direct investment (FDI) capital in the country and the trade surplus. In the first 10 months of this year, Việt Nam reported a rise of 7.6 per cent in FDI disbursement, reaching US$12.7 billion, and a trade surplus of $3.2 billion. The central bank’s flexible reference rate would help minimise the negative impact of global volatility, Hùng said, adding that the policy also contributes to dampening speculation in the forex market. The central bank can also intervene in the market through futures contracts with local commercial banks besides using foreign reserves of more than $40 billion – a record high in recent years – to stabilise the forex market. – VNS |
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Social News 18/11 New cold spell to cool the north  Another cold spell is forecast to hit the northern region on November 23. Deputy Director of the National Centre for Hydrometeorological Forecasting Le Thanh Hai said that the upcoming cold spell will last until December. Rains will start to fall from November 22. The temperatures at night in Hanoi are forecasted to stand at between 13-15 Celsius and 16-18 Celsius during the day. He also warned that if cold air continues to move southwards, it would cause rain in the central region. The north has experienced changeable weather. When being asked why the temperatures were still so high even though it's the end of autumn, Hai said compared to 2014 and 2015, temperatures this November were only a bit higher than average. "The weather was so hot last November that people had to still use their air-conditioning because of El-Nino phenomenon. The third week of this year November is hotter than previous years' temperatures, but then it will become colder next week," he said. The highest temperature in the third week in November in Hanoi was recorded at 32 degrees Celsius. Luxury cruise brings 2,500 visitors to Halong Bay The luxury cruise ship Genting Dream visited Halong Bay in the northern province of Quang Ninh on November 16, carrying 2,500 visitors. The luxury cruise ship Genting Dream arrived in Ha Long Bay on November 16. During the stay in the province, the cruise, jointly operated by Genting Hong Kong Ltd. Co. and Malaysia’s Dream Cruise Line, weighed anchor at Hon Gai Port, Ha Long Bay and several other local tourist sites. Genting Dream is 334m long, 40m wide and has 18 floors. It can accommodate 3,500 tourists and 1,900 crew. It has many modern facilities, including cinemas, restaurants, bars, spas, swimming pools and even a nine-hole golf course. From now to March 2017, Genting Dream plans to visit Ba Ria-Vung Tau, Danang and Halong 10 times. Prime Minister advises An Giang to focus on farming, tourism Prime Minister Nguyen Xuan Phuc named organic farming and tourism as potential lucrative business for An Giang while working with the locality’s authorities in Hanoi on November 17. Dubbed as the rice bowl in the Mekong delta, An Giang has applied scientific and technological advances on over 90 percent of its rice fields, thus harvesting an output of over 4 million tonnes of rice. So far this year, the province greeted about 6.4 million tourists, earning 2 trillion VND (90 million USD), showing increases of 2.4 percent and 31.5 percent from the same period last year. “Local officials should adopt a new mindset in development and strongly yearn to promptly tackle existing weaknesses and get rich,” he said. They should immediately prepare to launch socio-economic tasks for 2017. In the long run, they should focus on tapping internal waterway, allowing investors to get involved in developing vehicles and ports, he said. In addition to that, An Giang should seek to improve its business and investment environment and spur the creation of start-ups and business of rural young people, he noted. He advised the locality to concentrate on developing the rice-fish farming models to earn higher incomes and advertising its tourism products to keep tourists to stay longer. An Giang also needs to safeguard border security and develop border economy while combating cross-border smuggling, he stressed. Present at the working session, Minister of Agriculture and Rural Development Nguyen Xuan Cuong said the province should pursue high-tech agriculture and combine it closely with tourism. HCM City suggested to become safe to women, girls Ho Chi Minh City should take intervention measures to build itself into a safe city that prevents women and girls from sexual harassment and other forms of sexually violence in public spaces. The suggestion was made at a seminar on designing a safe city programme held in HCM City on November 17 by UN Women in Vietnam. Laura Capobianco, a representative from UN Women, said sexually violence against women and girls in public places is at an alarming level. Migrant, disabled and young women, lesbians, bisexuals and transgenders face a higher risk of sexual violence as they suffer from different forms of discrimination. With the support of the municipal Department of Labour, Invalids and Social Affairs, UN Women has conducted a qualitative study in District 3, Binh Thanh and Nha Be districts. The results show that migrant female workers and students are the most vulnerable to sexually harassment. Participants suggested HCM City include the criteria of a safe city in its ongoing programme to build a civilized and modern city. It should have strict punishments on those who conduct sexually harassment, establish organisations helping women that are sexually harassed to overcome psychological shocks, as well as install alarm bells and cameras in public places. UN Women’s Global Flagship Initiative, “Safe Cities and Safe Public Spaces,” was launched in November 2010. It is the first-ever global programme that develops, implements, and evaluates tools, policies and comprehensive approaches on the prevention of and response to sexual harassment and other forms of sexual violence against women and girls in public spaces. It began with founding programmes in Quito, Ecuador; Cairo, Egypt; New Delhi, India; Port Moresby, Papua New Guinea; and Kigali, Rwanda, and now spans more than 20 cities. HCM City will be the next city to implement the programme. Deputy PM directs support to mixed race children The Government Office recently issued a document detailing Deputy Prime Minister Vu Duc Dam’s directions on support to children of Vietnamese women who married foreigners returning to live in Vietnam. The Deputy PM asked ministers, leaders of ministry-level agencies, centrally-run cities and provinces to perform tasks assigned at the national conference held on June 6, 2011 on marital and family relationships involving foreigners. The Justice Ministry was assigned to work with the ministries of Labour, Invalids and Social Affairs; Foreign Affairs and concerned agencies to deal with issues regarding citizenship and civil status of mixed race children. The Ministry of Labour, Invalids and Social Affairs (MoLISA) will coordinate with the ministries of Justice, Public Security, Foreign Affairs, Education and Training, Public Health, the Vietnam Women’s Association (VWA) Central Committee, the Vietnam Social Insurance and relevant agencies to devise measures to enforce policies in this regard, ensuring children’s rights to residence, education, and health check-ups. The MoLISA will work with the VWA Central Committee to provide support for Vietnamese women who married foreigners to return home. Germany keen on climate change projects in Mekong Delta Germany is interested in climate change adaptation projects in the Mekong Delta, Vice President of the German parliament Edelgard Bulmahn said at a working session with the Steering Committee for the Southeastern Region in Can Tho city on November 17. She highly valued the role of the Mekong Delta in food production and rice export, and expressed her impression on the outcomes of coastal management projects. German ministries and sectors pay special attention to climate change-related issues, she said, adding that her government has been determined to develop renewable energy to mimimise factors causing environmental changes since 1999-2000. Renewable energy has accounted for up to 30 percent of the European country’s electricity generation, she said, stressing that Germany is a reliable partner of countries, including Vietnam , in this field, she confirmed. According to Edelgard Bulmahn, the challenges that the Mekong Delta is facing are not only of Vietnam but also the international community, thus requiring the involvement of both domestic and foreign scientists and multiple countries. Lying at the end of the Mekong River , the Mekong Delta has been bearing a lot of brunt from climate change and rising sea level, said Nguyen Quoc Viet, deputy head of the Steering Committee. He noted that the climate change process has become quicker in recent years, causing negative impacts on local agricultural production and other socio-economic sectors, as well as land, water, transport infrastructure, and irrigation. The serious drought and saltwater intrusion in the 2016 dry season raged through 10 out of the 13 Mekong Delta localities, resulting in water shortage for at least 290,000 households and economic losses of over 15 trillion VND (675 million USD), he cited. The Vietnamese Government has enacted a number of measures to cope with climate change across the country, he said, adding that the Mekong Delta is completing a regional coordination mechanism, especially in planning and building transport and irrigation works, controlling the level of salinity, managing forests, and protecting coastal areas, among others. Through the German Society for International Cooperation (GIZ), the Mekong Delta is implementing a project on enhancing the climate change resilience, and a programme on general management of coastal areas to support localities in building adaptive models in agriculture. The Steering Committee for the Southeastern Region called on Germany to expand such projects and support the green growth target of the region. Hai Phong strives to become tourism centre Hai Phong city is expected to become a coastal tourism centre in the northern region under a development plan for the 2016 – 2020 period, with a vision to 2030 which was put on the table recently by the municipal Party Committee. Under the plan, some key tourist sites in the city will be developed to become national and international tourist destinations. Accordingly, Hai Phong will focus on turning tourism into a spearhead and sustainable economic sector, gradually making itself a key national tourism site. The city will develop tourism in parallel with protecting the environment, promoting cultural values and local cultural identities, ensuring national security and defense and maintaining social order. The city is expected to post an average annual growth of 8.2 percent in tourist arrivals and 8.9 percent in tourism revenue by 2020. The locality’s Cat Ba archipelago will be developed into a world-level tourist attraction where ecological conservation will be boosted. To achieve the target, the city put forward solutions to create breakthroughs in tourism development, including increasing promotion activities, boosting human resource training and introducing policies to attract strategic investors. Deputy PM urges fish-death compensation Deputy Prime Minister Trương Hòa Bình has urged ministries and agencies to boost efforts to assist victims of the toxic spill by Taiwanese Hưng Nghiệp Formosa Hà Tĩnh Steel Co. Ltd. At a meeting with the ministries of agriculture and finance on Wednesday to discuss compensation for individuals and businesses affected by the mass fish deaths in April, he said the Thừa Thiên–Huế, Quảng Trị and Hà Tĩnh provinces had conducted the first phase of the compensation programme. Under a September 29 decision, the list of individuals and businesses eligible for assistance includes fishermen, owners of fishing boats and their employees, owners of and workers at seafood cold storage facilities, fish sauce and shrimp paste businesses, and fish and shrimp farms. The official asked the people’s committees of the four central provinces, where fish died en masse due to environmental pollution, to calculate the losses for other victims and report to the Ministry of Agriculture and Rural Areas (MARD). The MARD and the Ministry of Finance would determine the additional compensation required according to the localities’ reports before submitting their own report to the prime minister for approval. Ministries, agencies and localities were requested to handle stockpiled seafood, while the Ministry of Natural Resources and Environment was tasked with destroying unsafe seafood within this month. Its owners would receive financial support equivalent to 100 per cent of the value of the discarded volumes of seafood, he said. The Ministry of Industry and Trade would instruct Hà Nội, HCM City and businesses to sell the safe frozen seafood. Enterprises trading these products would receive support for managing electricity costs and interest rates on existing loans, while those who stockpile seafood would receive financial support equivalent to 30 per cent of the value. He asked the Ministry of Health to take samples of seafood caught within 20 nautical miles of the seabed for testing and announce the results by the end of next month. He also underscored the need to increase communication in seeking public consensus on the government’s compensation efforts. Late in June, Formosa Hà Tĩnh Steel accepted responsibility for the mass fish deaths in the central provinces of Hà Tĩnh, Quảng Bình, Quảng Trị and Thừa Thiên-Huế and pledged to provide compensation of over VNĐ11.5 trillion (US$500 million) to support the local fishermen and help restore the now-polluted marine environment. The Ministry of Finance has transferred VNĐ3 trillion ($134.7 million) to the localities. Of this amount, Quảng Bình received VNĐ1.1 trillion (49.4 million); Hà Tĩnh, VNĐ1 trillion ($45 million); Quảng Trị, VNĐ500 billion ($22.5 million); and Thừa Thiên-Huế, VNĐ400 billion ($18 million). One killed, one wounded in mountain road accident One person died and another was seriously wounded after a tanker truck suddenly lost control and rolled down the valley off Hải Vân Pass, police have said. The Phú Lộc traffic police have identified the deceased as Lâm Văn Thơ, 50, of Quảng Nam Province and the injured man as Nguyễn Trọng Nghĩa, 38, of Đà Nẵng. Thơ died after being thrown out of the truck’s cabin while Nghĩa was found in it. Phan Bảo Trung, head of the station, said on Wednesday the truck (plate number 43C.078.51 from Đà Nẵng) was traveling from Huế to Đà Nẵng when it veered off the road and plunged about 200 metres down into the valley. He said the accident occurred around 7.30am on a downhill section of the Hải Vân Pass in Lăng Cô Town, Thừa Thiên-Huế Province. He said the truck could have unloaded in Thừa Thiên-Huế Province earlier, as its tank was empty, but investigators are yet to decide who the driver was. The cabin of the truck was completely damaged in the accident, which is being investigated further. It’s the second accident occurred on the 24km long zigzagging pass that connects Thừa Thiên-Huế with Đà Nẵng. The pass, which is 500m above sea level, is a favourite site for off-road and adventure tours. In March, a tanker truck carrying 17 tonnes of liquid gas overturned on road as it was going downhill on the Hải Vân Pass. Hải Vân Pass, which is located on National Highway No 1A, is the only road allowing tankers or road adventurers to travel between Đà Nẵng and Thừa Thiên-Huế since the 6-km Hải Vân tunnel became operational in 2005. Seven-storey parking garage opens at HCM City airport Tân Sơn Nhất International Airport in HCM City on Tuesday opened an 11,351 sq-metre, seven-storey parking garage located outside the domestic terminal. The TCP Joint-Stock Company said the modern parking garage, which has a basement, a ground floor and five floors, can hold more than 6,000 motorbikes and 1,742 cars. The ground and first floors are for motorbikes, and the second to fifth floors are for cars. At least 239 other vehicles such as coaches and taxicabs can park outside the garage. “The new parking garage will help ease traffic congestion around the airport and meet visitors’ parking demand,” an airport representative said. Phạm Văn Châu, vice director of the company, said the garage was equipped with a smart fire system that automatically determines the affected area and discharges water in case of fire. Estimated parking fees are VNĐ5,000 (US$0.22) per eight hours for motorbikes and VNĐ20,000 (US$0.8) per 30 minutes for cars. TV programme to celebrate Teachers’ Day A special TV programme will air live to highlight national Teachers’ Day celebrations around the country on November 20. The four-hour show, Ngày Thầy Trò (Day of Teachers and Students), will begin at 7:00pm on 20 channels by leading stations such as Vĩnh Long Television, Voice of Việt Nam, MobiTV and VTC. It will include reports on teachers living in remote districts of Cà Mau, Hà Tĩnh and Hà Giang provinces, who face challenges to educate their students. Featured will be talks by Vietnamese-French professor and mathematician Ngô Bảo Châu of the University of Chicago, winner of the Fields Medal in 2012; shooter Hoàng Xuân Vinh, the country’s first Olympic golden medallist at Rio de Janeiro this year; and historian Dương Trung Quốc. Pop stars Mỹ Linh and Thu Phương, and young singers Đinh Mạnh Ninh, Nhật Thủy and Nguyễn Trần Trung Quân will share their stories on the day. The show will include short documentaries on the life of poor students from ethnic minority groups, who have worked hard to support their parents but still love going to school. Ngày Thầy Trò was produced by director Trần Đăng Tuấn and his staff, who travelled to many places for filming. “Our programme is like a diary of students and teachers in remote areas who will help depicting the country’s education development,” he said. “It will provide viewers with useful knowledge and images about teachers and their students. It will also encourage people to pay more attention to encourage disadvantaged children to develop their study,” said Tuấn, the show’s general director. Shuttlecock athletes compete in Bắc Giang The National Best Badminton Players Tournament is underway at the Bắc Giang Province’s Gymnasium, seeing the participation of 45 athletes from 13 teams. Competitors are taking part in five categories: men’s and women’s singles and doubles and mixed doubles. Organisers expected competitive matches between leading athletes from HCM City, Hà Nội, Bắc Giang and Thái Bình. Final matches are scheduled for November 19. HCM City best in chess and Chinese chess HCM City dominated the National Best Chess and Chinese Chess Masters Tournaments, which closed in Bà Rịa-Vũng Tàu on November 15. Two gold medals were won by Nguyễn Thị Thanh An (women’s standard chess) and Đào Thiên Hải (men’s blitz chess). They also grabbed two silvers in these categories. Hoàng Cảnh Huấn of Đà Nẵng pocketed the men’s standard title, while Võ Thị Kim Phụng from Bắc Giang triumphed in the women’s blitz. Hà Nội, without their best masters Trần Minh Thắng and Trấn Tuấn Minh, who are under training abroad, could only grab two bronze medals. In the Chinese chess competitions, HCM City’s Đào Quốc Hưng and Nguyễn Lê Nhật Quang took the first and second position, respectively, of the men’s pool. Uông Bắc Dương of Bình Dương came in third. On the women’s side, HCM City swept all medals with victories by Cao Phương Thanh, Nguyễn Hoàng Yến and Đàm Thị Thùy Dung. Tra Vinh University holds Vietnam-Japan cultural exchange A first-ever Vietnam-Japan cultural exchange was held on November 17 at the Tra Vinh University. The exchange, sponsored by the Vietnam-Japan Friendship Association, drew representatives from friendship associations in Ho Chi Minh City and Can Tho, along with many high profile Japanese transnational companies. Most notably, Yazaki EDS, Sumitomo Mitsui Engineering& Shipbuilkling and Takeuchi were among prominent Japanese participants in addition to a large gathering of local companies. The program included performances of traditional music, tea ceremonies, flower arrangements, Japanese paper crafts, demonstrations of Khmer ethnic minority people’s wedding rituals and rural market fairs along with fine arts, handicrafts and photo exhibitions. At the opening ceremony, Nguyen Trung Hoang, vice chair of Tra Vinh provincial People’s Committee said the cultural exchange aims to strengthen the friendship relations between the two countries. RMIT University Vietnam’s Master of Architecture programmes, which can be taken on a full-time or part-time basis, will accept its first intake in 2017. “What we really want is to produce graduates who are design innovators bringing something new, something totally different to the urban landscape here,” said President Professor Gael McDonald at the launch event for the university’s programme on November 15 in Ho Chi Minh City. McDonald stressed the importance of environmental sustainability for the programme as well as for the country. “Now in a country of over 90 million, with rapid urban, industrial and residential development, issues such as sustainable design, and cultural heritage preservation are paramount,” she said. “The durability of buildings, their impact on the environment, the potential for energy efficiency and a focus on using local low impact materials are all considerations that we want top of mind for our students. But we also want those buildings to be ones you’d be proud to live or work in. Buildings with unique design flair.” The launch event was held at the university’s Pham Ngoc Thach campus, and included the attendance of local universities representatives and many of the country’s top architectural firms. “One of the highlights of the programme is our suite of Design Studios, where students collaborate with local architects and international peers on creative and conceptual projects. Students will be working in a dedicated studio space in the heart of Ho Chi Minh City, making it more convenient to collaborate with industry partners or students working in practice,” said Professor Rick Bennett, head of the Centre of Communication and Design. Dr Gretchen Wilkins, acting programme director for the Master of Architecture programme, said that Vietnamese students will be able to extend their local education through an international, design-focused program taught by local and international architects. “Throughout each semester, students will have access to a range of lectures and events led by prominent local and international architects,” Dr Wilkins said. “International exchange to Melbourne or other participating programs is also an opportunity.” RMIT Australia is ranked as one of the world’s Top 40 Universities for architecture and built environment, according to the 2016 QS World Rankings. Rehahn opens exhibition to raise funds for needy kids An exhibition themed Childhood by French photographer Rehahn kicked off yesterday at the Caravelle Saigon in HCMC’s District 1 to raise funds for needy kids at the Christina Noble Children’s Foundation. Via 15 creations, Rehahn conveys unique images about joy and hope of Vietnamese kids looking forwards to a brighter future despite difficulties and challenges in their lives. Most of the characters in his photos are ethnic minority kids in mountainous regions. The exhibition’s organizers, Christina Noble Children’s Foundation and the Caravelle Saigon, aim to raise people’s awareness on children protection and the development of younger generations in the future. Rehahn told the Daily that he is building a gallery-museum which covers over 200 square meters in the ancient town of Hoi An. The place is expected to display photos, costumes and artifacts of ethnic minority people during Rehahn’s five years of exploration in Vietnam. The exhibition takes place at the Opera II on level 3 of the Caravelle Saigon at 19 Lam Son Square, District 1, HCMC until November 30. Zika mosquitoes found at construction sites Construction sites in districts 2, 9 and Binh Thanh in HCMC have been found as sources of mosquitoes that can spread dengue fever and Zika virus, city health officials said at a meeting of the Steering Board for Zika and Dengue Prevention on Monday. Nguyen Huu Hung, deputy director of the HCMC Department of Health, said three more people had been infected with Zika, with two in District 2 and one in Binh Thanh District, bringing the total in the city to 38. Recent environmental sanitation checks found districts 2 and 9 have the most construction works underway in the city, with rainwater storage facilities identified as fertile places for mosquitoes to live and lay eggs, said Nguyen Tan Binh, director of the HCMC Department of Health. District 2 currently has more than 200 construction projects underway. Four patients were confirmed to be infected with the Zika virus in District 9, with three of them in Phuoc Long B Ward. The area has many housing projects and uninhabited villas, creating a favorable environment for mosquitoes to grow. Therefore, local authorities have requested project owners to join hands with them to kill mosquitoes by cleaning up water containers, mowing lawns and collecting trash, among others. Le Truong Giang, chairman of the Public Health Association, urged project investors in the two districts to spray lime powder around stagnant bodies of water to kill mosquitoes and their larvae. Nguyen Tri Dung, director of the HCMC Preventive Medicine Center, proposed adding VND12 billion (US$537,213) to the fund for Zika control due to a pickup in infection cases. Huge capital needed to cope with climate change Vietnam will need more than VND25 trillion (US$1.12 billion) to cope with consequences of the El Nino weather phenomenon in 2016-2020, according to the Ministry of Agriculture and Rural Development. This year alone, more than VND3.7 trillion will be used to support farmers to acquire varieties, breeds and water purifiers, upgrade water systems, and implement drought and salinity intrusion control projects. The ministry was speaking at a conference on agricultural restructuring and climate change adaptation in Hanoi yesterday. A document presented at the conference said Vietnam is among the three countries most vulnerable to climate change and rising sea levels. Since 2014, El Nino has wreaked havoc on 18 provinces in the south-central, Central Highlands and Mekong Delta regions. Drought and saltwater intrusion have hit some two million people and damaged hundreds of hectares of paddy with losses estimated at VND15 trillion. Besides the State budget, the Government of Vietnam for the first time has sought help from international organizations to back residents in climate change adaptation. By early July, foreign partners and organizations had provided over US$16 million to support Vietnam to deal with extreme weather conditions. Speaking at the conference, Ngo Xuan Kieu of the Vietnam Academy for Water Resources pointed out the inefficient use of natural resources in the agricultural sector. For instance, local farmers need a staggering 140 liters of water to turn out a glass of coffee. According to research, drip irrigation systems can help coffee growers save 45-50% of water, 50% of fertilizer and 90% of labor, and increase profit by 60%. This technology has been applied on flower farming in many parts of Da Lat City in Lam Dong Province. Tran Dai Nghia of the Institute for Policy and Strategy of Agriculture and Rural Development (IPSARD) told the conference that the nation should adapt to climate change by finding ways to adjust production. For instance, salinity-hit soil can be used for fish farming. Project empowers rural communities The Civil Society Empowering Rural Communities project, funded by the European Commission via ActionAid International Vietnam (AAV), has contributed to improving social welfare of people in Quan Ba district, the northern mountainous province of Ha Giang. Sen Thang Long, Vice President of the Quan Ba district People’s Committee, made the statement at a meeting with representatives of the Vietnam Union of Friendship Organisations and AAV as part of their trip to inspect the project from November 15-16. The four-year project was launched in four communes and Tam Son town of Quan Ba district, one of the 62 poorest localities nationwide, in January 2013. It cost a total of 2 billion VND (90,000 USD), of which 600 million VND (27,000 USD) was used for community initiatives. The project has basically met its set targets, especially promoting the involvement of the community in making socio-economic development policies, Long said. Mong and Dao ethnic groups in the targeted localities raised many initiatives to improve their living standards such as building roads to avoid floods and landslides, and community houses, he added. According to the official, the project helped maintain the operation of 16 community development clubs where 400 locals discussed farming and accessed information about State policies and laws as well as resolutions issued by all-level authorities. Ly Thi Eng, a member of the community development club in Truc Son village, Quan Ba commune, said through the project, she and many others are now aware of their rights and obligations in the community. Between 2006-2015, Quan Ba attracted many aid projects from the AAV with total value of 16 billion VND (720,000 USD). Guidelines issued for pollution risk classification at sea The Ministry of Natural Resources and Environment has issued Circular 26/2016 to regulate the classification of marine areas based on the level of risk of pollution. Taking effect on November 15, the circular consists of 4 chapters and 17 articles, detailing relevant criteria, regulations and guidelines for provinces and cities nationwide to follow. Accordingly, the classification must be carried out on rectangular areas in three different zones: coastal, near-shore and offshore zones. It requires the employment of scientific methods to collect statistics about the pollution level in each rectangle. Statistics should demonstrate the pollution cycle, including origin and transformation progress. There are four criteria to classify areas according to pollution risks, which are the level of pollution or pollution risks, the scope of pollution, the level of environmental sensitivity, and the threat to human health, marine and island ecology systems and the exploitation of marine and island resources. The entire process follows three steps – calculation, evaluation and mapping. Island teachers devoted to students, community Seven years ago, teacher Cao Thi Thanh Minh left her comfortable surroundings in the north-central coastal province of Quang Binh and moved to an island commune in one of HCM City’s outlying districts. The 29-year-old biology teacher was hired by Thanh An Secondary School, the only secondary school in Thanh An commune, which is bordered by mangrove forests, in Can Gio district. Upon graduation from the Quang Binh College of Education, Minh was told that the commune school was looking for teachers and she applied for a job. When she first arrived at the commune, located about 70 kilometres to the east of central HCM City, Minh discovered that she to take a ferry to Can Gio district and then a wooden boat to reach the school. “During the first days of teaching, I was sad and homesick. I thought about giving up teaching altogether, and leaving this place, which had electricity generated from a diesel power station for only 18 hours a day,” Minh said. Last year, however, the island was connected to the national grid. “Three years of studying at the College of Education would have been a waste, though, if I had given up. So, I decided to stay. ” When she saw the smiles on the faces of her students, her mood always lifted. “Their smiles and their interest motivated me to stay and do a good job,” Minh said, adding that she began to slowly adapt to the new circumstances. “Now, I don’t want to leave the peaceful life and pure air here, although some of my colleagues say that the City needs teachers and suggested that I apply,” Minh said. The students in the commune are obedient and virtuous, and the parents, who are often poor, do not pay attention or care about their children’s learning, so the school’s teachers must fulfill that role, according to Minh. At the school, Minh follows a student-centred teaching methodology recommended by HCM City’s Department of Education and Training. In her classes, Minh often divides students into teams and assigns tasks according to different topics. In a lesson on roots of plants, for example, each team goes outdoors to identify the kind of root. Last year, she won a consolation prize for a digital lesson plan she designed on integrating wildlife protection. The contest was held by the city’s education department in co-operation with the non-profit Wildlife at Risk (WAR). In the 2014-2015 period, Minh was also named one of Can Gio district’s top 38 excellent teachers. “To attract students, I try to make the subject more exciting. When my students are interested in the topic, they learn well,” Minh said. Le Minh Nhut, deputy head of Thanh An Secondary School, said that Minh was an enthusiastic, creative and proactive teacher. She was also elected to the commune’s People’s Council, thanks to the trust and admiration of the students’ parents and other residents. Minh is one of 13 teachers in the commune who have moved from other provinces to contribute to the area’s educational development. Thach Thi Thuy, from the north-central coastal province of Ha Tinh, has spent four years teaching in the commune, often taking a wooden boat in fierce winds to the school. “Living and teaching here has been a valuable experience,” Thuy said. “I was shocked to live in a place with electricity for only 18 hours a day, and a shortage of water. The water supply is cut regularly and, sometimes, even for a week.” Some of the school’s classrooms are made of corrugated steel sheets and are temporary as a new school is being built nearby. Despite the hot classrooms and other problems, Thuy said that compared to her hometown, which often experiences threatening storms, living in the commune was better. Encouragement from her brother, colleagues and the school has also helped her relieve stress. Like Minh, Thuy is using new methodologies to teach English to help her students appreciate the importance of learning English. The Ministry of Education and Training has commended teachers like Minh and Thuy for living and teaching on the country’s islands. The teachers are good role models and need more encouragement and care from the state and community, the ministry has said. VNA/VNS/VOV/SGT/SGGP/TT/TN/Dantri/VNE |
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BUSINESS IN BRIEF 20/11 Crocodile breeders seek protection from foreign traders Crocodile farmers and enterprises have suggested establishing a crocodile breeding and production association to strengthen links between them, so they can protect the market against being manipulated by foreign traders. The crocodile breeding industry is now relying heavily on Chinese consumption, which leads to price instability when the relationship between individual breeders and between breeders and enterprises is lacking. These were the most concerning issues discussed by participants at a conference on improving the competitiveness of crocodile products, held by the municipal Department of Agriculture and Rural Development early this week. Ton That Hung, Deputy Director of Hoa Ca Crocodile Ltd Co, said the market had developed spontaneously, without planning or guidance. The lack of investment in processing technology means most products sold are raw materials. He attributed the crocodile breeders’ inability to decide on prices to the lack of co-operation in production among them. Recently, foreign traders, mainly Chinese people, visited small crocodile farms directly to buy crocodiles and crocodile leather. They no longer need Vietnamese intermediaries, so they were able to manipulate the prices, Hung said. In 2014, crocodile prices rose to a record high of VND230,000 (US$10.3) per kilogramme, leading farms to rush to increase the number of crocodiles they produced. But now, prices have dropped to VND60,000-70,000 per kilogramme, causing losses for many households. The affected companies have asked authorities to adopt measures to prevent price manipulation by Chinese traders, which would affect economic security. As reported by the departments of Agriculture and Rural Development of 22 southern provinces, there are some 2,700 crocodile farms in the region, including up to 2,500 small-scale farms, which are home to some 50-100 crocodiles. According to Hung, if the region receives proper investment in production technology and breeding stock research, it will become the crocodile "basket" of the world, bringing great benefits to the farmers and the country. Ngo Ngoc Anh, Director of the Ngo Vo Ltd Co, a business that has experience in exporting crocodiles to European markets, said the Russian market has enormous export potential, but there are quite strict regulations on veterinary procedures, packing and packaging. If businesses do not familiarise themselves with the requirements, it will be difficult for them to access the market, Anh said. He said, currently, many Vietnamese enterprises producing and processing clothing, shoes and purses have to import crocodile skin. Meanwhile, domestic resources are sizeable but have not been fully employed. Therefore, Anh suggested the HCM City People’s Committee and the municipal Department of Agriculture and Rural Development work with the garment processing enterprises to promote the consumption of local raw materials. In the context of deeper integration, Tran Van Nga, Deputy Director of the Ton Phat Crocodile Breeding and Business Ltd Co, said it is necessary to create a plan and develop a strategy to shape the Vietnamese crocodile brand. "Without strategic branding and intellectual property registration for the freshwater crocodile business in the country, domestic products will be affected and subjected to fierce competition when the time to realise commitments under free trade agreements draws nearer," said Nga. Due to commitments to tax reduction in the agreements, particularly the Agreement on ASEAN-China Goods Trade, which is already in force, crocodile products from Thailand, Cambodia and China will flow into Viet Nam. Nga said local crocodile businesses must have divisions responsible for marketing their products to the world. In addition, they are advised to diversify their product lines and markets to avoid continuing their complete dependence on the Chinese market. A representative of HCM City’s agriculture department pledged to coordinate with the city’s Trade and Investment Promotion Centre to seek new export markets for crocodile products and to propose measures to control trafficking by Chinese traders. Viet Nam's food processors court global investors Viẹt Nam’s food processing industry offers huge investment potential for investors both in terms of the domestic market and exports, according to the Ministry of Industry and Trade. Speaking at an investment promotion conference held on the sidelines of the Vietnam Foodexpo in HCM City on Wednesday, Deputy Minister of Industry and Trade Hò Thị Kim Thoa said the country’s food processing industry has failed to meet market demand. She was implying it meant a huge opportunity for investors entering the sector now. In the next 20 years, with 5-6 per cent economic growth feasible and the imminent increase in urbanisation and development of the retail market, demand for food would continue to increase, especially for high-quality processed products, she said. Besides the promise of the domestic market, there is also huge potential for exports, she said, pointing out that for many years Viẹt Nam has been one of the world’s largest exporters of many farm items like rice, coffee and cashew. Last year Viẹt Nam earned US$30.14 billion from agricultural, forestry and seafood exports. The figure is expected to cross $31 billion next year. “With such a wide range of investment and co-operation opportunities [available], I believe foreign investors should not miss the opportunity to exploit Viẹt Nam’s food industry. At the same time, Viẹt Nam’s businesses, organisations and localities in need of foreign investment should actively solicit foreign investment,” Thoa said. Bùi Huy Son, director general of the Viẹt Nam Trade Promotion Agency, said with a market of over 90 million and food consumption projected to grow at 18.6 per cent annually until 2019, abundant raw materials, the Government’s investment incentives and export advantages arising from free trade agreements, Viẹt Nam is definitely one of the most attractive investment destinations for the food industry. The Government has sped up equitisation of State-owned enterprises, offering good opportunities for investors, he said. “The State Capital Investment Corporation is selling stocks of more than 200 companies, of which 50 are in the food industry. This will be a good opportunity for investors to do M&A deals.” Dạng Xuan Quang, deputy director of the Foreign Investment Agency, said the country has attracted total investment of $290.6 billion, but only $7.6 billion in the food processing industry. The investment in the food sector has been mainly in areas that offer quick returns such as agro-processing, alcoholic beverages and seafood processing, he said. The foreign investors have mostly been from Asian countries such as Thailand, Taiwan, Malaysia, Korea, and China, while investment from countries with a developed food processing industry such as Japan, the US, Australia and European nations has been low, he said. While Viẹt Nam does not offer specific incentives for the sector, what it generally offers foreign investors in terms of income tax, land rental, support for developing raw material zones and others are competitive compared with the rest of the region, he said. Claudio Dordi, the technical assistance team leader of the European Trade Policy and Investment Support Project (EU-Mutrap), said the increasing demand for hygiene and food safety makes it a good opportunity for firms with an technological edge to invest in the Vietnamese food sector. With the country’s advantages with respect to trade policy, human resources and others, “investing in Viẹt Nam is a win-win opportunity for foreign investors,” he said. Nam Sang Kun, a foreign expert in investment promotion at Vietrade, said Viẹt Nam is regarded as a new manufacturing base in the Asia-Pacific after China and many Korean firms plan to enter the country. PetroVietnam proposes adding power plants to national grid The Vietnam National Oil and Gas Group, or PetroVietnam, has proposed to add the construction of the Nhon Trach 3 and 4 thermal power plants to plans for national electricity development. This was reported by the Ministry of Industry and Trade. According to the proposal, the two power plants, each with the production capacity of 750-800 MW, are designed to be constructed on the total area of some 34ha in the Ong Keo Industrial Park in Nhon Trach district in the southern province of Dong Nai. The Nhon Trach 3 power plant will occupy nearly 16.6ha, while the second power plant will be spread over an area of 17.4ha (excluding the complex area, surface water and public service buildings). Following PetroVietnam’s proposal, the Ministry of Natural Resources and Environment has requested the oil group to make a supplementary report on the compatibility of the power plant construction with the development plan of the Ong Keo IP and with land use zoning and planning of the locality approved by the competent authority. The ministry also said construction must comply with water resource legislation. The oil and gas group must prepare an updated report on the current state of water exploitation and use of the Nhon Trach Power Centre and calculate the water demand of the power plants and supply capacity of the water resource. The group is also required to make an additional plan for prevention and control of pollution, degradation and depletion of water resources during construction. As the project is located at the confluence of Dong Tranh and Long Tau in the Dong Nai river system, construction activities must comply with the law on the water resources protection corridor. The two power plants are required to build a centre for collection and sewage treatment. In addition, PetroVietnam will have to report the current state of the air and water environment in the construction area. If its proposal is approved, the oil group is requested to provide an environmental impact assessment report to the competent authority for approval. Earlier, the Ministry of Industry and Trade finalised the investment plan for Nhon Trach 3 and 4 plants as part of efforts to deal with power shortage after 2020, especially in the southern region. PetroVietnam’s Nhon Trach 2 plant began commercial operation in 2011 with the capacity of 750 MW and productivity of 5.5 billion kWh per year. The 450KW Nhon Trach 1 plant, which began operation in 2008, generates 2.5 billion kWh per year. Workshop tackles smuggling, trade fraud A workshop was held in Ho Chi Minh City on November 17 to discuss tackling smuggling and trade fraud, and protecting brand names. According to National Steering Committee 389, in the first ten months this year, over 172,000 cases of smuggling and trade fraud have been handled, and over 2,000 cases of making fake products have been detected, collecting nearly 13 billion VND (585,000 USD) and 58 billion VND (2,61 million USD) in fines, respectively. However, Tran Thanh The from the Committee said the figures only reflect a part of the problem. Taro Goto, Director General of the NGK Spark Plugs Vietnam said 20 percent of NGK spark plug products in the Vietnamese market are fake, adding that this causes big losses for his company and harms the brand name. A representative from the Ich Nhan Pharma Company said his company has struggled with fake products for years. Tran Giang Khue from the Department of Intellectual Property pointed to difficulties in implementing the Law on intellectual property. Participants suggested relevant bodies devise measures to handle violators, such as administrative fines, fake product confiscation and destruction. Meanwhile, The stressed the need to adjust relevant legal frameworks to deal with the problem while identifying the responsibilities of each stakeholder to protect consumers and the market. Participants called for close coordination among relevant bodies in the work. Efforts should also be made to raise awareness of fake products among consumers. Seminar highlights trademark problems The problems of developing, registering and marketing trademarks for agricultural produce were discussed at seminar in southern Ben Tre Province on Wednesday. These included delays in processing applications, the misuse of trademarks by non-registered products and challenges posed by free trade agreements. Do Thi Minh Tram, deputy head of the provincial Department of Industry and Trade, reiterated the advantages of having a strong trademark for the nation’s agricultural products. She said local firms should build strong trademarks to promote consumption of agricultural products and improve their competitiveness in local and global markets. Over the last two years, the southern region has had trademarks issued for 30 agricultural products. This effort was supported with VND1 billion (US$45,250) from national and local funds for industrial promotion. The 30 products include six registered by Long An Province, four by Ba Ria-Vung Tau and several others, including dried shrimp and honey by Ca Mau. Some enterprises had not registered their trademarks because it was a time-consuming and costly process at VND35 million for each re-certification, according to the National Office of Intellectual Property (NOIP) under the Ministry of Science and Technology. Tran Giang Khue, an NOIP representative, said that the number of applications for trademark had increased, but the local department did not have sufficient personnel to process them in time, despite the application of information technology. Pham Chau Hoanh of the Ninh Thuan Grape Association said maintaining and developing a product trademark after registration was also difficult because registered trademarks were being used by other products. For instance, the Ninh Thuan Grape has been a registered trademark for long time, but grapes from elsewhere were being sold at supermarkets as Ninh Thuan grapes Khue of NOIP said it was important to develop the quality of the product that has a trademark, failing which it would be difficult to popularise it. In the long term, to make local trademarks strong and popular, local firms should also establish links with others in the region, Khue said. Tram of the Ben Tre Department of Industry of Trade said that many Vietnamese goods have entered global market via intermediaries, either by supplying raw material or processing products for famous foreign brands. So customers around the world do not know what the products come from Viet Nam, he said. With Viet Nam joining many free trade agreements, it will be very challenging for local firms to compete with goods from other countries, and this will apply to trademarks too, she said. Therefore, domestic firms should develop strategies to build, develop, advertise and protect their trademark, she added. They must build strong trademarks to create a reputation for their products and promote their consumption. Registering the trademark is needed to protect firms during trade disputes, Tram said. She said trademarks are not just assets for businesses, they are also national assets because they become associated with the country. Enterprises and business leaders should keep this in mind when building and developing their trademarks, she added. SAS and National Economics University to develop banking analytics talent in Viet Nam The US-based analytics leader SAS Institute on November 17 signed a co-operative education agreement with Viet Nam’s National Economics University to develop analytics talent for the Vietnamese banking industry. The agreement will make the National Economics University (NEU) the first local college to join SAS Global Education Practice Academic Programme. The two sides reached the agreement given that global economy is witnessing a world-wide shortage of data science skills, which poses a challenge across all industries in general, SAS said in its statement. In particular, the financial-banking sector needs highly skilled experts to analyse massive amounts of data to understand clients better, improve risk management and drive through complex economic challenges, SAS said. Under the agreement, SAS Institute will organise “Analystics for Banking” Programme for NEU students that allows them to gain experience with real-world data while technical and academic assistance will be provided by the Viet Nam Prosperity Bank and the South Africa’s North-West University. The first course of the programme is a financial engineering programme, which is scheduled in December 2016 and engages 40 final-year and post-graduate students. The course will have a strong focus in the banking environment and provide the trainees with skills required by the banking-financial sector. “To address the globalized, technology-driven business landscape, academia and industry must work together to develop courses that adequately prepare students for ‘real-world work’. This includes providing diversified, industry-directed academic short courses and mentorship to graduates, says Murray de Villiers, Senior Manager, Global Academic Program at SAS. “In a rapid-paced world, universities can also develop academic programs faster through inter-university collaboration, leveraging the best of each other.” “This collaboration shows the great potential that can be achieved when industry and universities work together. The ultimate winners are the learners, who will gain skills that are in high-demand by employers today,” said Jerry Oglesby, Senior Director of Global Academic Programmes at SAS. On the same day, NEU also reached a Memorandum of Understanding for their collaboration with the Centre for Business Mathematics and Informatics at North-West University, which promises deliver significant value to the Vietnamese economy. The SAS® Global Education Practice Academic Program currently engages more than 4000 universities world-wide, in order to deliver on the needs of government, industry and universities for world-class data science and advanced analytics skills. Total assets of credit institutions exceed $359.6 billion  Assets of Vietnamese credit institutions in September rose significantly by more than VNĐ198 trillion (US$8.8 billion) month-on-month thanks to a better performance, a State Bank of Việt Nam report showed. Total assets increased to more than VNĐ8 quadrillion ($359 billion) by the end of the month. Compared with the end of last year, total assets increased 10.55 per cent. According to the new report, assets of all kind of credit institutions in September rose, of which State-owned commercial banks posted the highest growth of VNĐ94.5 trillion to more than VNĐ3.7 quadrillion. Joint stock commercial banks followed with a rise of VNĐ70.4 trillion to more than VNĐ3.2 quadrillion. After reporting a decline of VNĐ15.4 trillion in August, assets of joint venture foreign invested banks rose again in September by VNĐ26.4 trillion to VNĐ826.8 trillion. In September, charter capital of all credit institutions also rose sharply by VNĐ6.8 trillion month-on-month to more than VNĐ478 trillion. The rise in September alone was equal to 60 per cent of the total rise in the first eight months of the year. By the end of September, the capital adequacy ratio (CAR) of the banking system was at 12.73 per cent, inching down from August. However, the ratio was still much higher than the 9 per cent regulated by the central bank. Liquidity of the banking system was also abundant with short-term funds for medium- and long-term loans being good at 33.48 per cent. According to the current regulations, the proportion of short-term funds for medium- and long-term loans is 60 per cent for commercial banks, foreign banks’ branches and co-operative banks. According to the central bank, the good proportion could be a positive base for it to stabilise interest rates and target a further lending cut next time. Hanoi facilitates foreign investment in infrastructure, energy Hanoi is ready to provide information for Ukrainian and Spanish enterprises to enhance investments in infrastructure and energy with the Vietnamese capital city. Chairman of the municipal People’s Committee Nguyen Duc Chung made the remark while meeting on November 17 with Ukrainian Ambassador to Vietnam Oleksyi Sovkoplias and vice president of Spain’s IDOM group Rafael Higes Cachon, who is seeking cooperation in infrastructure and energy. Ambassador Oleksyi Sovkoplias said IDOM successfully constructed a metro system in his country’s capital Kiev, and it hopes to cooperate with Hanoi in this field. Chung expressed his interest in the proposals suggested by the diplomat and the IDOM executive, noting that they are in accordance with Hanoi’s development plan. The Vietnamese capital has plans to carry out infrastructure and environmental treatment projects between 2016 and 2020, he added.-VNA Liquefied gas imports increase in volume, down in value China is the key supplier of liquefied gas for Vietnam, accounting for 39% of market shares with 377,000 tons valued at US$157.6 million in the first ten months of this year, up 17.16% in volume but down 5.75% in value over the same period last year. According to preliminary statistics from the General Department of Vietnam Customs, Vietnam imported more than 1 million tons of liquefied gas worth US$388.9 million in 10 months of this year, up 12.5% in volume but down 11.7% in value. In October alone, liquefied gas imports hit 105,100 tons valued at US$43.2 million, up 24.8% in volume and 34.8% in value against September. Qatar ranked second among suppliers of liquefied gas for Vietnam with 190,100 tons or US$68.3 million, up 20.57% in volume but down 10.59% in value. Saudi Arabia came third with 183,000 tons or US$63.9 million, up 164.8% in volume and 99.91% in value. Noteworthy is that imports from Malaysia saw a skyrocketed growth of 165.300% in volume and 492.706% in value (3.300 tons or US$1.3 million). Imports from China, RoK surpass US$66 billion Imports from China and the Republic of Korea (RoK) hit US$66.238 billion, making up 47% of Vietnam’s total import value in 10 months leading up to November, according to the latest statistics from the General Department of Vietnam Customs. Of the figure, imports from China were valued at US$40.238 billion, down 1.4% or US$576 million while those from the RoK hit US$26 billion, up 11.75% or US$2.734 billion. Eight imported products from China had a value of more than US$1 billion each. They include machines, equipment and tools (US$7.346 billion), telephones and components (US$4.917 billion), computers and electronics and components (US$4.761 billion). Meanwhile, five key products from the RoK with an import value of more than US$1 billion each included computers, electronics and components (US$7.285 billion), machines, equipment and tools (US$4.52 billion) and telephones (US$3.035 billion). MoIT to manage kid's milk prices Ministry of Industry and Trade to lead in managing the price of milk products for children under six years old, taking over from the Ministry of Finance in January. The Ministry of Industry and Trade (MoIT) will be officially in charge of managing the price of milk products for children under six years old, replacing the Ministry of Finance (MoF) from January. The government issued Decree No. 149 on adjustments and supplements to certain articles of Decree No. 177 detailing and guiding the implementation of certain articles in the Law on Prices, under which MoIT will take over from MoF. The Ministry of Health will lead and cooperate with MoIT in issuing detailed guidelines on milk products. Earlier, in a draft submitted to the government at the end of August on amendments and supplements to certain articles of Decree No. 177, MoF proposed transferring the task of managing the price of milk products for children under six years old to MoIT. In October, MoIT refused to take the lead role in managing these prices, saying “the Law on Prices defines that State management of this issue lies with MoF.” MoIT only had the role of coordinating and chairing the management of commercial development and the domestic market, ensuring the balance between supply and demand and adjusting the flow of goods. The government, however, decided to assign the task to MoIT. The ministry has important roles to play from importing to trading milk products because more than 70 per cent of powdered milk in Vietnam is imported. The country now has 877 milk products for children under six years old, with price ceilings, registered prices and declared prices announced on the websites of MoF and provincial departments of finance. Milk products for children under six years old have been on the price stabilization list and subject to a price ceiling by the government since June 2014, after the implementation of other management solutions proved inefficient. Vina Kraft Paper doubles capacity in Vietnam Vina Kraft Paper, a subsidiary of SCG Packaging, has doubled its existing capacity in Vietnam after opening a second paper production line. The first reel of corrugated medium paper was rolled out at the end of October, which was initially expected to be in the second quarter of 2017. “The new machinery allows SCG Packaging to add more 243,500 tons per annum to its portfolio through newly-installed capacity and gains from efficiency optimization, which doubles its existing capacity in Vietnam and results in total packaging paper capacity of 2.6 million tons per annum in strategic ASEAN countries, including Thailand, Vietnam and the Philippines,” said Mr. Sangchai Wiriyaumpaiwong, General Director of Vina Kraft Paper in Vietnam. He added that this reaffirms SCG Packaging’s strong leadership in the high-growth Vietnam market as the largest high-quality packaging paper producer. “With strong commitments in sustainability, we put environmental awareness at the forefront,” he emphasized. The new facility is being carried out along with an environmentally-friendly self-sufficient co-generator power plant, a raw material preparation plant, and a high-standard waste treatment plant. VKPC is a 70:30 joint venture between the Siam Kraft Industry Company Limited (a subsidiary of SCG Packaging) and the Rengo Company Limited from Japan. It is located at the My Phuoc 3 Industrial Park in southern Binh Duong province, 45 km from Ho Chi Minh City, and has been the leading producer in Vietnam since 2009. With a total of 20 companies in Vietnam and approximately 6,900 employees, SCG offers a variety of premium products and services. Available products in cement-building materials include concrete roofing, fiber cement boards, fiber-cement wood substitute products for floors and ceilings, white cement, ready-mixed concrete under the SCG brand, ceramic wall and floor tiles under the COTTO & Prime brand, and sanitary ware, fittings and bathroom fixtures under the COTTO brand. In the packaging business, available products are reading and writing paper under the IDEA brand and corrugated containers, kraft paper, and flexible packaging. In the chemicals business, available products are downstream chemicals products such as PE&PP, XLPE, PVC resin and compounds, etc. SCG also has a building materials showroom in Hanoi. “We see a bright future for markets across the region, with steady growth rates,” said Mr. Roongrote Rangsiyopash, President and CEO of SCG. “Especially in Vietnam, demand for building materials and packaging has risen on the back of the boom in the construction industry, with several infrastructure, residential, and industrial projects, as the country has become a key production base of the world.” SCG’s second quarter report showed total assets in Vietnam of VND19.177 trillion ($872 million), an increase of 9 per cent year-on-year. Revenue from packaging sales stood at VND3.876 trillion ($176 million), an 11 per cent increase year-on-year. First half revenue from sales was VND7.212 trillion ($325 million). StarLake apartments to be handed over by June One hundred and eighty-two villas at the $2 billion StarLake project in Hanoi’s Tay Ho district will be officially handed over to purchasers on June 30 next year and sales in its second phase have now begun. “Customers who wish to buy a villa in the project’s second phase can register to buy right now,” a representative from StarLake told VET. “Site clearance is being conducted on schedule.” The StarLake project covers on an area of 1.86 million sq m. Vietnam’s THT Development Co., a wholly-owned subsidiary of Daewoo E&C, has led the new city development project, which has total investment of $2.2 billion, with the first phase having $1.2 billion. Daewoo E&C sold most of the villas within a month of them coming on the market. The StarLake project was granted an investment license in 2010, with ground cleared in 2011 and construction of the first phase beginning in 2014. Established in 1973, Daewoo E&C is one of South Korea’s largest construction groups, with a presence in nearly 50 countries and territories around the world. In Vietnam, before StarLake it invested in the Daeha Business Center in Hanoi and was the general contractor at the high-end Daewoo - Cleve apartment building in the capital’s Ha Dong district. The company has said it will achieve its goal of becoming the 15th largest builder in the world by pushing ahead with the building of new cities overseas. It expects to build 31,000 homes this year, becoming South Korea’s largest housing supplier for seven years in a row. Vietnam's real estate market is flourishing, with international investors attempting to secure a foothold in the market either through mergers and acquisitions or by forming joint ventures. Foreign buyers, mainly from Japan, South Korea and Singapore, have their eyes on the country’s two major cities: Hanoi and Ho Chi Minh City. Investors have expressed an interest in luxury properties, according to real estate consultants JLL. Transparency in Vietnam’s real estate market has steadily improved over the last few years, it has said, with better access to market information, increased availability of market data, and improved enforcement of planning and land use regulations. Fourth edition of Czech-Vietnamese dictionary launched Engineer Nguyen Quyet Tien, one of the two co-authors editor of a Czech-Vietnamese dictionary, introduced and presented the 4th edition of the collection to the Vietnamese Embassy and the Vietnamese Association in the Czech Republic on November 16, targeting Vietnamese expatriates and Czech people who want to learn Vietnamese. The fourth edition of the Czech-Vietnamese dictionary is the latest among six volumes produced by Tien and Czech co-author, Dr. Ivo Vasiljev. At the launching in Prague yesterday, attendees spent a minute of silence in memory of the Czech linguistic professor Dr. Ivo Vasiljev who died almost one month ago. Tien commemorated Dr. Ivo’s death, who accompanied him in the first four volumes of the dictionary. He said that Dr. Ivo’s passing will be a great difficulty to compiling the last two volumes and preparing subsequent projects. However, engineer Tien expressed his determination to complete the significant project as planned. The 700 page fourth volume includes 21,000 words and was completed within a year. The first volume was launched in November 2013 with 10,100 words, while the second debuted in November 2014 with 9,200 words and the third in November 2015 with 19,200 words. The compilation and publishing of the dictionary received support from Czech Ministry of Education, Youth and Sports through a government sponsored programme in languages of ethnic minorities and multicultural education in 2015. The bilingual encyclopaedia, covering a wide range of subjects, including society, culture, history, biography and geography, won the second prize of the Dictionary of the Year award from the Union of Interpreters and Translators of Czech Republic within the Book World Prague, an international book fair and literary festival, in Prague last May. Tien also expressed his hope that the published volumes and the remaining two sets would continue to be widely promoted in the Czech Republic, especially among the Vietnamese community there to serve for learning, teaching and researching Vietnamese in the host country and contributing to the friendly relations between the two peoples. Vietnamese Ambassador to the Czech Republic Truong Manh Son praised efforts by the two co-authors in spreading the languages and culture of Vietnam and the Czech Republic to academics, students and Vietnamese community. The diplomat said that the dictionary was a precious treasure of language and literature providing invaluable support for Vietnamese on the path of integrating into Czech society, as well as for lovers of Czech and Vietnamese culture. He also affirmed that the Vietnamese Embassy would coordinate with the Vietnamese Association in the Czech Republic to create the best conditions for Tien to complete the project. For his part, former chairman Hoang Dinh Thang of the Vietnamese Association in the Czech Republic expressed his sincere appreciation to the two co-authors in researching and compiling the collection to raise the prestige credit and position of the Vietnamese community in the host country. Housing market keeps developing The housing market will continue to develop, especially the mid-range apartment and townhouse segments, thanks to the improved quality of the country’s economic growth, experts told a recent conference in HCM City. Le Anh Tuan, head of research at Dragon Capital Group Limited, told the conference, titled “Real-estate: Building the future,” that Vietnam is among top emerging markets in terms of GDP growth. Furthermore, its quality of growth is good as seen from the reducing credit growth and inflation in 2015-16 compared with 2004-11. Private consumption has also surged, he said. Other factors that would boost the housing market include the rapid growth of the middle-class, which is expected to jump from 12 million in 2012 to 33 million by 2020, he said. The rise of the private sector and the resultant boost to productivity, the rapid infrastructure development and the stable economy would be other important factors, he added. Nguyen Tran Nam, Chairman of the Vietnam Real Estate Market, concurred saying, “Demand and supply will continue to grow like they have since the beginning of 2014.” Nguyen Thi My Phuong, CEO of Tien Phuoc Real Estate Joint Stock Company, said she is totally optimistic about the future of the housing market. “Since the beginning of this year, the market has witnessed strong growth in all segments -- apartments, villas, townhouses, and land. “Prices have increased in all segments. The number of transactions has risen sharply at projects with a good location and developed by prestigious developers.” A Savills Vietnam executive was also optimistic about the market, saying it would be healthy in 2017. Participants agreed that while both supply and demand would increase in all segments, the mid-range and townhouse categories would rise the fastest. Tuan said sales of luxury housing peaked in the fourth quarter of last year, and demand and prices are set to fall while supply has kept increasing. In the first nine month of this year sales in this segment has been down 10 percent, he said. Supply, demand and prices of mid-range apartments and townhouses would rise from now through 2018, he said. Nam said with the growing population, every year the country needs around 100 millions square metres of housing. Rapid urbanisation has brought huge numbers of people to cities, pushing demand up there, he said, warning that there is still a mismatch between demand and supply. “Supply has increased, demand is growing, but they do not meet each other because they are in different segments,” he said. Developers are focusing greatly on the high-end segment while 70-80 percent of the demand is in the low and mid-end segments, he pointed out. “There is a discrepancy in the property products structure.” An executive from a construction company said projects with high quality and affordable prices are winners whatever segment they are in. Vietnam croc farms suffer as Chinese market shrinks The price of crocodiles raised for their skin on Vietnamese farms has been plummeting amid China’s economic slowdown, forcing farmers to lower prices, close farms, or sell their products at a loss. The information was made public at a conference on ‘Alignment for Enhanced Competitiveness of Crocodile Products’ in Ho Chi Minh City on November 15. China’s shrinking purchasing power has taken a toll on Vietnam’s crocodile farmers, who mainly rely on exporting the reptile to their northern neighbor, Tran Tan Quy, deputy director of the municipal Department of Agriculture and Rural Development said at the conference. Many farms have had to close down, Quy said. Over 160,000 freshwater crocodiles are being raised for their skin on farms in Ho Chi Minh City, but less than 15% (around 23,000 crocodiles) have been exported so far this year, according to the deputy director. An additional 6,808 metric tons of salted crocodile skin and 6,121 metric tons of crocodile leather were also exported over the same period, adding to the city’s total export value of VND52 billion (US$2.32 million) in crocodile products. “There has been a significant drop in the number of crocodile farms in Ho Chi Minh City in recent years,” Quy said at the conference. Meanwhile, Dao Van Dang, deputy chief of the city’s Forest Protection Department, pointed out that of the 12 companies, two cooperatives, and 28 households currently running crocodile farms in the city, only four companies meet standards set out by the Convention on International Trade in Endangered Species of Wild Fauna and Flora (CITES). CITES is an international agreement between governments which looks to ensure that international trade in wild plants and animals does not threaten their survival. CITES southern representative Thai Tuyen asserted that conservation agreements, such as CITES, make it difficult for Vietnamese crocodile exporters to find alternatives to Chinese buyers. The price of live crocodiles has dropped by VND5,000-VND7,000 (US$0.2-0.3) per kilogram in the last month, hitting the new bottom of VND40,000-60,000 (US$1.8-2.7) per kilogram, according to crocodile farmers at the conference. At such a low price, farmers are selling their products at losses of VND30,000-VND50,000 (US$1.3-2.2) per kilogram, Nguyen Van Thanh from the Southern Crocodile Breeding Cooperative said at the conference. Central bank downplays forex concerns The State Bank of Vietnam (SBV) on Thursday said that the rising value of the US dollar against the Vietnamese Dong was normal at this time, reassuring market concerns over the accelerating VND/USD exchange rate. In an announcement released on November 17 afternoon, the SBV said that the VND/USD exchange rate had been rising over the past few days, and stood at 22,450 VND per USD in the interbank market on November 17 afternoon, which was still 50 Dong lower compared to the rate in the end of 2015. According to the SBV, the current high VND/USD exchange rate was resulted from the rising value of the USD against several strong currencies including the euro, pound, yen and yuan following the US election. The central bank said that from now to the end of this year, there would be no foreign currency surprises, and flows were supported by the disbursement of foreign direct investment capital, capital from mergers and acquisitions, and remittances. This morning, November 18, the SBV set the reference VND/USD exchange rate at 22,112 VND per USD, showing a rise of 11 VND from the previous day and the eighth consecutive rise with 87 VND in total, according to the Vietnam Plus Newspaper. With the current +/- 3 percent VND/USD trading band, the ceiling exchange rate is 22,775 VND per USD and the floor rate is 21,449 VND per USD. In the opening hour, Vietcombank listed the buying rate at 22,400 VND per USD and the selling rate at 22,470 VND per USD, up 5 VND from November 17. The bank adjusted its rates up 95 VND in total from the beginning of this week. Rates were listed 22,440 - 22,520 VND/USD at Eximbank, up 40 VND from the day ago. The rates rose by 145 VND in total from the beginning of this week. In Techcombank, the rates were listed 22,390 - 22,500 VND/USD, unchanged from the day ago, but rising up 100 VND in the buying rate and 110 VND in the selling rate. BIDV offered the buying rate at 22,460 VND per USD and the selling rate at 22,530 per USD, up 50 VND from the day before. The price of the greenback rose up 160 VND in both rates since November 14. The forex market experienced a strong fluctuation when the central bank raised its reference rate and commercial banks also made surges in their buying and selling rates. Short-term foreign currency loans extended The State Bank of Việt Nam (SBV) announced yesterday that it would allow credit institutions and foreign bank branches to continue issuing short-term foreign currency loans to some borrowers. The ruling allows loans to be issued until the end of 2017, instead of December 31, 2016. Under Circular 31/2016/TT-NHNN dated November17, 2016, credit institutions and foreign bank branches are allowed to consider offering short-term foreign currency loans to meet short-term capital needs for production or business plans for the export of goods via Vietnamese border gates until December 31, 2017. The borrowers are required to have sufficient foreign currency revenue from exports to repay the loan. The new circular replaces Circular 07/2016/TT-NHNN issued early last year that stated such loans would have to be completed by December 31, 2016. With the policy, exporters will continuously have an opportunity to borrow foreign currencies at low interest rates. Currently, lending interest rates for short-term US dollar loans are roughly 3 per cent, while the rate for short-term đồng loans is some 5-6 per cent. According to the SBV, the extension seeks to support local exporters in the context that their business and production still face difficulties due to adverse weather and negative consequences caused by the environmental pollution in the coastal central provinces. The regulation is also among the Government’s incentive policies aimed to support and develop local enterprises until 2020, which was approved in Decree 35/NQ-CP issued in May 2016. Industry insiders said that the extension is also expected to reduce domestic demands for US dollars, believing that the dollar sharply strengthened against the đồng during the past day. Today, the đồng/ dollar exchange rate listed at many commercial banks exceeded VNĐ22,600 per dollar. This was the highest rate since this year’s January launch of the new đồng/dollar forex rate methodology, using a central reference rate for the daily based on an eight-currency basket and macro-economic conditions. The insiders explained that without the extension, exporters who borrowed dollars from credit institutions would have to repay the loans before December 31, 2016. According to the SBV’s statistics, outstanding loans in foreign currencies in the first nine months of this year rose 5.44 per cent, against early this year. Meanwhile, local demands for foreign currencies often rise significantly at year-end to meet increasing imports, the insiders said. VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VET/VIR |
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Article 9
Vietnam ready for APEC events in 2017 Vietnam is ready for hosting the Asia-Pacific Economic Cooperation (APEC) meetings in the country’s central city of Da Nang in 2017, Deputy Prime Minister and Foreign Minister Pham Binh Minh confirmed at the 28th APEC Ministerial Meeting (AMM) in Peru on November 18.  Participants take photo at the meeting Addressing the meeting’s session on preparations for the 2017 APEC Year in Vietnam, Deputy PM Minh said Vietnam proposes the theme of the year as “Creating new driving force for a common future” based on the APEC’s common need of new momentum to promote integration and connectivity in the new context and maintain peace, stability, development and prosperity in the region. Around 200 activities, including eight ministerial-level conferences, will be held across Vietnamese cities and provinces, while the 25th APEC Summit will take place in Da Nang, he revealed. Ministers extolled Vietnam for her careful preparation and welcomed the theme of the event. They expressed their belief that the APEC Year 2017 will contribute to widening and deepening regional collaboration and connectivity. Another focus of the 28th AMM was human development – one of the top priorities of APEC cooperation. The participants emphasized the importance of education, innovation, vocational skills training, corporate culture, and information technology to human resources development in the digital era. They held that it is necessary to improve the quality of and increase the access to education services, while ensuring job generation and quality life for all, especially women, youngsters and people with disabilities. They welcomed the Joint Statement adopted at the sixth APEC Education Ministerial Meeting (AEMM) in Peru in October and agreed to further enhance education cooperation to develop high-quality human resources. As APEC observers, representatives from the Association of Southeast Asian Nations (ASEAN), the Pacific Economic Cooperation Council (PECC), and the Pacific Islands Forum (PIF) proposed developing cooperation for sustainable growth and jointly building a post-2020 vision for APEC. Deputy PM and FM Pham Binh Minh said digital technology is a push for fundamental changes of economic sectors and it is expected to spur the global economy. APEC should step up collaboration in education and digital connectivity, particularly in rural and remote areas to reduce poverty and empower women and girls. He stressed that developing human resources is one of the priority measures of Vietnam to realise its socio-economic development strategy through 2020. The same day, the 28th AMM concluded with the passing of a Joint Statement on measures to boost APEC cooperation, which will be submitted to the 24th APEC Summit on November 19-20. On the sidelines of the event, Deputy PM and Foreign Minister Minh had bilateral meetings with foreign partners, including the Foreign Ministers of the US and Papua New Guinea. The countries agreed to exert more efforts to strengthen bilateral cooperation and coordinate with Vietnam for the success of the APEC Year 2017.-VNA |
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Article 8
A tribute to all hard-working teachers in Vietnam Students present flowers to their teacher in gratitude for his teaching at a school in Ho Chi Minh City. Vietnamese Teachers’ Day is November 20th, when flower sales go through the roof and students visit their teachers across the nation to pay their respects. From the wooden shack classrooms of the cloud-wrapped Western mountains with hardships of poor housing, clothing, little money and fewer opportunities to the growing quality of city education with well-fed kids in over-crowded and mostly under-resourced facilities – the challenges are still huge. So to work successfully in teaching makes you a pretty amazing person! But here’s the thing... 20 million students are getting an education and more than a million teachers are doing their jobs. The nation’s education ministry is lifting its educational standards and working on better support for everyone – it’s all happening. That’s right – teachers are actually doing their jobs as well as they can! When people mention education, we often moan about too much homework, boring teachers and subjects yet that could be any classroom in the world. Why is it that we don’t seem to remember the best teachers and subjects? Here’s a challenge for you – can you remember the teacher who made you understand? I can think of about a dozen from elementary school to my master’s degree. For me, there was Mr Fox, a scary teacher in elementary school who used colored chalk a lot and gave me my first real practical science class – I can still remember the lesson exactly. There was Mr Lowe in high school that encouraged story-telling, drama and the power of writing. And Mrs Goodman, a science teacher, incredibly strict but finally made me understand physics and chemistry. Teachers will continue the lesson until you get it! Recently an IELTS student’s face glowed when she talked about a history teacher who made the subject come alive for her by filling out the boring factual content with stories and comparisons – the smile on her face was priceless. She may never use the lesson in a job but what if it motivated her to travel? That’s life changing... What you learn may surprise you in many ways later! Not all teachers are inspiring or memorable but without their daily work in doing the lessons again and again, we probably wouldn’t have had the choices in life and work that we eventually took for granted. So teachers are tough and strong in their hearts! (Even when it’s sooooo... boring.) A part that’s often poorly understood by parents and outsiders is the amount of organizing, planning, paperwork, grading, marking, report writing, studying, thinking, meetings, lesson plan writing and sudden changes in curricula, timetables, schedules, standards, workloads and outside-school-hour work that is involved in good teaching. A teacher’s ranges of office skills are often wider than you think! A good teacher is also partly a parent, policeman, psychologist, scientist and philosopher. I can’t count the number of times I’ve had to listen to students’ problems, calm down an excited class or lift the spirits of an unhappy class. There are times when the weather is bad and the students are grumpy (the teacher too!) or the other days when one student looks like the loneliest person in the world and there’s nothing you can do. Sometimes students will ask you questions about life and you have to philosophize, explain or give an opinion – without imposing your own prejudices on them. This is a very hard one – especially with students around late teenage or early age. The trick is not to judge the student for asking the question but giving them an answer that is honest and fair. Teachers see things from many points of view! And there’s often more than one answer... Next to last, knowing your stuff; There’s an old saying, ‘the textbook is only as good as the teacher’ – meaning it takes a teacher to help the student understand the knowledge. All too many teachers go ‘by the book’, relying on the book to get them through the lesson but your special teacher will go much further than the book. There’s inspiration and imagination to give and young minds to set on fire. It doesn’t happen every lesson or for every student or every teacher – but we can all remember that moment of inspiration. Remember my question from before about who opened your mind? A teacher understands that school is only half the classroom! A true teacher knows the world is bigger than the book and many lessons are learnt outside a classroom. If you teach a student to pass an exam then you have only half taught them – if your teacher gave you some ability to think about the unexpected then the lesson is 90% complete. The other 10%? What you think long after your teacher is an old memory... So before you give your teacher their flowers and gifts, stop and stand or sit quietly somewhere for a moment and just think: What did they teach you that didn’t seem like a lesson, yet you learned something? If you are smiling when you think about this... then the teacher did his job... My very best regards to all the hard-working teachers of this nation that I love! Happy Vietnamese Teachers’ Day! STIVI COOKE |
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Article 7
The Mông, and the fabric of their life 
Making beautiful garments with flax has for long been a way of life for the Mông; now, it is offering them a stable livelihood, Lương Thu Hương reports. Linen has been the fabric of life for the Mông people in Hà Giang Province for a long, long time. The ingenuity of this ethnic minority in making this fabric from scratch, dyeing it with different colours using no chemicals, and making beautiful garments has turned every Mông woman into a colourful flower blooming amidst the rocky mountains they call home. In the past, most linen garments, which take years to finish, were tailored for members within just one family, but over the years, as more people discover the beauty of the fabric and the work done on it, a joint effort is being made to widen its reach. The Hợp Tiến Linen Co-operative in Lùng Tám Village, Quản Bạ District, is one of the spearheads of this effort, and it has succeeded in marketing the linen garments to the lowlands and beyond the country’s borders. “Linen is the treasure of Lùng Tám Village,” said Vàng Thị Mai, who heads the co-operative. “Throughout Hà Giang Province, as long as there are Mông People, there will be linen. However, it is Lùng Tám Village that has succeeded in preserving, promoting and making our traditional products flourish.” At present, the co-operative has 130 traditional looms, creating jobs for 135 people, both villagers and others in the vicinity. All its nine production groups are based in Lùng Tám, with every household getting involved in one stage or other of the production process.
“Mông people in the village are very happy and not anxious anymore, because our traditional job has been successfully restored and developed, and we are able to introduce one of our culture to both domestic and international friends,” Mai said. The Hợp Tiến Co-operative makes more than traditional clothes. Using the traditional textiles and patterns that have been passed down from their ancestors, they have creatively produced a variety of modern household decorative items like pillow cases, wallets, curtains and tablecloth. Making the fabric is a lot of work. Mai said the whole process includes more than 21 stages, all of which are done manually. First, the flax plants are planted and tended on the most fertile farmland. They are harvested after over two months and dried to make threads. When splitting the threads to get the sheaths, the Mông woman has to be extremely careful in order to acquire threads of the same lengths and not break them halfway. The flax sheaths, bound in sheaves, will be crushed in stone mortars to soften them, until only the tough threads remain. These will be bound once again to make longer threads. After boiling them several times in water mixed with ash and bee wax, the linen threads become softer and whiter. This is when the Mông women bring their looms into play.
The cloth that is woven will be washed again to whiten them as much as possible. The next step is spreading the cloth on to logs and flattening them with flagstones that have been scraped with bee wax. The colouring stage is also a meticulous process. The cloth is dyed with natural colours of extracted from local plants. In order to get the correct shade of indigo black, the weavers have to dye the cloth several times over several days. The cloth is submerged in the dye for about an hour, drained and submerged again. This happens five to six times, or even more. The colours of the cloth are determined significantly by weather conditions. If it is sunny, it takes from three to four days to finish dyeing the cloth, but if it rains, the process can take up to two months. “Despite all the hardship, it is the natural colours and handmade production that make our products unique,” Mai said. Reviving a tradition Mai says every member of the Hợp Tiến Co-operative has worked hard and dedicated themselves to the success of restoring the community’s traditional skill. Having been the chairwoman of the commune women’s association for more than 20 years (1989 – 2006), Mai understands well the difficult lives that Mông women have experienced. “The villagers used to live in great poverty. No matter how hard they worked, both at home and on the farm, they were still poor,” the 54-year-old artisan recalled.
“Mông women are not only industrious but also skillful. At the age of 13, besides helping their families work on the farm, they have been able to spin, weave, embroider or sew. I thought, why we can’t we weave our fabric to sell to others and better our lives?” The traditional weaving tradition of the Mông was struggling against the appearance of modern clothes in their markets towards the end of the 1990s. Young girls did not stick to the habit of working on the looms like their ancestors and fewer women were wearing their traditional, homemade dresses. The skill of weaving, passed through generations, faced the risk of disappearing. Wanting to preserve the cultural treasures of her community and to improve their living standards, Mai, with the support of her husband, encouraged other villagers to contribute funds to establish and join the Hợp Tiến Linen Weaving Centre, which was set up in her house in 1998. There were barely 10 members then. In 2000, Mai received support from a project aiming to preserve and develop traditional craft villages, launched under a co-operation programme between Vietnam and Sweden. A year later, in 2001, her efforts received another boost when the local People’s Committee allocated land for setting up the Hợp Tiến Linen Weaving Co-operative, enabling the construction of a workshop, helping stabilising production. Soon, Mai realised that it was not enough to produce, the products had to be marketed. “At first, I travelled down the mountains alone, bringing the products along with me, to join many trade fairs in Hà Nội and introduce them to potential customers,” Mai said. The opportunities to visit various souvenir, art and handicraft shops made her more aware of what the market demanded, what would sell. “We needed to make many more products of better quality, adding souvenir items like scarves, handbags and tablecloth. “International visitors, particularly those from Japan, French and Canada, enjoy our line of products and their indigo colour.” Many of them have travelled long distances to reach Lùng Tám Village and signed long-term contracts with the co-operative. Outside support To sustain its growth, the Hợp Tiến Cooperative has collaborated with the Centre for Development Support of Vietnamese Trade Villages and Craftlink (a not-for-profit organisation seeking new markets for traditional artisans) to promote and introduce their linen to international markets. The demand for the linen products of high quality and unique patterns increased rapidly, together with the number of villagers joining the cooperative.
A co-operation agreement with Association Batik International, a French organisation focusing on vocational training, has opened a new page in the development of the co-operative. Under the agreement, its members have the opportunity to get more training and enhance their skills, enabling them to make products more beautiful and of higher quality. At present, the co-operative’s traditional linen products are sold in souvenir stores throughout Việt Nam, including in prestigious hotels like Nikko and Horison. They are also found in some outlets in France, Japan, Canada, Britain and Switzerland. Co-operative members are happy to see their traditional skill thrive and happier that it provides them with a decent income. “Working in the co-operative provides me with a stable income of about VNĐ2.3 million (US$100 approx) per month after harvest,” said Sùng Thị Mị. “I do not have to travel far to work anymore and my children can attend school.” The best news is that more and more Mông girls have become interested in weaving, and this enables them to support their families financially. Hạng Dương Thành, vice chairman of the Quản Bạ District People’s Committee, said the administration was taking the first steps towards developing community-based tourism in Lùng Tám Village. “This will offer an opportunity for visitors to experience local life as they discover the Hà Giang Stone Plateau. “Traditional linen products of the village will become souvenirs that travel to different countries, bearing features of highland cultures.”
Viet Nam News |
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Article 6
Vietnamese President attends APEC High-Level WeekVietnamese President Tran Dai Quang attended a dialogue and a group meeting with the Asia-Pacific Economic Cooperation (APEC) Forum’s Business Advisory Council (APAC) within the framework of the 24 th APEC High-level Week in Lima, Peru, on November 19.
The dialogue, co-chaired by President Tran Dai Quang, Malaysian Prime Minister Najib Razak, Prime Minister of the Republic of Korea Kim Byong-joon and US Trade Representative Michael Froman, took place following a ceremony hosted by Peruvian President Pedro Paplo Kuczynsky to welcome heads of delegation from 21 member economies. At the dialogue, the leaders and entrepreneurs discussed ways to promote growth and connectivity in the Asia-Pacific region amidst the world’s slow economic recovery while protectionism and the anti-globalisation movement has showed signs of development. As the host of APEC Year 2016, Peru has chosen its general theme “Quality Growth and Human Development” which focuses on four priorities of regional economic connectivity and quality growth, regional food market, modernisation of micro, small and medium-sized enterprises, and human resources development. President Quang said at the dialogue that the APEC economies are resolved to consistently pursue trade and investment liberalisation, promote quality growth, help businesses, particularly micro, small and medium-sized enterprises grasp opportunities arising from the fourth industrial revolution and digital era. APEC businesses need to join efforts with governments to seek new driving forces to boost economic growth, he said, adding that he wishes they would continue making positive contributions to the APEC Year Vietnam 2017. In the afternoon, the Vietnamese President attended and delivered a speech at the closing ceremony of the APEC CEO Summit 2016 – an annual event of utmost significance to the Asia-Pacific business community within the framework of the APEC High-level Week. Addressing nearly 1,000 representatives from top regional businesses, President Quang hailed the APEC Business Community as the pioneers who have initiated and realised many ideas for growth, cooperation and connectivity within the APEC Forum as well as the Asia-Pacific as a whole. He noted that, in a globalised world full of uncertainties, more than ever, APEC needs to reaffirm its role as an idea incubator and a driver for innovation, economic growth and integration. “The focus of the upcoming years must be on accelerating economic restructuring towards sustainability, inclusiveness and equity. Priority should be given to increasing productivity, ensuring food, and resources security, especially water and clean energy, developing high-quality human resources, strengthening competitiveness and creativity of businesses, especially micro, small and medium-sized enterprises”. “This future lies in building an APEC for the people and businesses, and contributing to maintaining the Asia-Pacific as a driver of global growth and connectivity”, he said. The Vietnamese leader affirmed that after thirty years of reform, Vietnam has gained enormous achievements, transforming from a less-developed country into a middle-income developing country. Vietnam today is one of the most rapidly growing markets and is forecast to become one of the five most competitive manufacturing nations in the Asia-Pacific by 2020. He underscored efforts to build a law-governed State that is transparent and efficient in the interest of the people and businesses, seek to improve the legal institutions and policies, protect the environment and expand the business space for stakeholders, awaken all potentials of businesses, promote accountability, uphold the rule of law and create new drivers for social-economic development. As one of the dynamic economies with a high level of openness and the destination for many multinational corporations, Vietnam is becoming ever more integrated with the two sides of the Pacific through different partnerships, the ASEAN Community and a network of 16 free trade agreements (FTAs) with 59 partners including 18 APEC members, he said. Speaking highly of the support and companionship of the APEC Business Community throughout the 30 years of reform and 20 years of Vietnam's membership in the APEC Forum, the State leader stressed that the State and people of Vietnam look forward to meeting APEC businesses in the beautiful coastal city of Da Nang next November. Earlier the same day, President Tran Dai Quang attended the seventh high-level meeting of leaders of 12 TPP member states under the chair of US President Barack Obama. It was their first meeting since the TPP was signed in Auckland, New Zealand, on February 4, 2016. Speaking at the event, President Quang urged the member states to enhance technical support and capacity improvement to enjoy benefits brought about by the deal, and expressed his belief that the TPP implementation would promote widespread economic connectivity among 12 member states and the Asia-Pacific countries in general. The TPP leaders showed their determination to accelerate the implementation of the deal, considering it an important channel to further deepen regional connectivity towards the establishment of the Free Trade Area of the Asia-Pacific (FTAAP). Also in the afternoon of November 19, Vietnamese Deputy Prime Minister and Foreign Minister Pham Binh Minh attended an informal dialogue between APEC leaders with the Pacific Alliance, including the four Latin American economies - Peru, Mexico, Chile and Colombia. In the evening, Peruvian President Pedro Paplo Kuczynsky hosted a gala dinner in honour of the leaders of APEC economies and their spouses. President Tran Dai Quang, his spouse and the Vietnamese entourage attended the event. VNA |
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Article 5
New pact to boost timber exports to EU 
HÀ NỘI – The doors are set to open wider for Vietnamese timber exports to Europe after Việt Nam and the European Union (EU) concluded negotiating a forestry pact. The Voluntary Partnership Agreement on Forest Law Enforcement, Governance and Trade (VPA/FLEGT) was negotiated for nearly six years. The conclusion of negotiations was announced at press briefing in Hà Nội yesterday by Minister of Agriculture and Rural Development Nguyễn Xuân Cường and European Commissioner for Environment, Maritime Affairs and Fisheries Karmenu Vella. The VPA aims to ensure legal exports of all timber products and promote sustainable development of the Vietnamese wood sector while expanding its reach into foreign markets, especially the EU. It also aims to prevent illegal logging, strengthen forest governance and promote trade in legally produced timber. Under the agreement, Viêt Nam will build and operate a timber legality assurance system (VNTLAS) in line with the country’s situation and the EU’s requirements on tracing the origin of timber in the supply chain. Cường said full operation of the VNTLAS would significantly contribute to ensuring the origin of Vietnamese timber exported to the EU and other markets. The FLEGT licence would allow Vietnamese businesses to export wood products to the union without taking accountability for the origin of legal timber products, he added. Commissioner Karmenu Vella said implementation of the agreement would help achieve social, environmental and economic targets. He said the key commitments were to establish a strong and reliable system and effective mechanisms to detect any violations, ensuring law enforcement, he said. The EU will strictly monitor Việt Nam’s implementation of the VPA and would support the country in this, he said. The two sides began negotiating the VPA/FLEGT in October 2010. As many as 10 high-level and 18 technical negotiating sessions were held before reaching a conclusion. – VNS |
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Binh Phuoc develops local cashew nut brandThe southern province of Binh Phuoc is thought to have one of the best cashew nuts in the world.  To develop a brand for this product, Binh Phuoc has master-planned its cultivation areas and sought ways to increase productivity and quality, and farmers’ income. A number of farmers in Long Ha hamlet, Bu Gia Map district, have grafted cashew trees to increase productivity, inspiring cashew and farmers’ associations to build 41 high-quality cashew growing models. “The model has been widely duplicated. Each year we welcome many delegations that come to learn from it”, said Nguyen Van Hung, President of Long Ha’s Farmers’ Association in Phu Rieng district. Apart from projects designed to produce safe cashew nuts, the provincial Department of Agriculture and Rural Development has worked with the provincial Farmers’ Association to promote genetically superior cashew trees well suited to the local climate to ensure the quality of Binh Phuoc-branded cashews. Since 2007, the Binh Phuoc Cashew Association has helped Tien Hung hamlet produce safe cashew products and develop a cooperative model. Participating members have been provided with qualified seedlings, farming techniques, fertilizers, and a guarantee that all products will be bought at a predictable price. Dam Xuan Tho, Deputy Director of the Hung Phuoc Agricultural Production Cooperative in Dong Xoai town, said “Annually, members of our management board attend training courses organized by Fairtrade International (FLO). The trained managers will, in turn, provide training for farmers to turn out branded organic products which later can be sold worldwide." Binh Phuoc cashews, which account for half of Vietnam’s total cashew exports, have been shipped to China, the US, the Netherlands, Britain, and a number of other European countries. This year, the average productivity reached 1.4 tons per hectare, up 40% against 2009. There are more than 200 exporters and processors in the province with a yearly capacity of 400,000 tons of raw "For long-term development, we should pay attention to not only materials, but also expanding markets and increasing efficiency in processing and trading. Special attention should be given to getting enterprises to invest more in processing technologies to boost added values", noted Cao Duc Phat, former Minister of Agriculture and Rural Development. VOV |
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Vietnam win opener against co-hosts Myanmar at SE Asian championship  Vietnamese playmaker Van Toan (21) handles the ball during the Group B game between Vietnam and Myanmar on November 20, 2016 at the AFF Suzuki Cup in Yangon. Vietnam have beaten co-hosts Myanmar in their opening fixture of the Southeast Asian football championship thanks to a winner from their top striker. Under huge pressure from Myanmar supporters at the Thuwunna Stadium in Yangon, the Vietnamese approached the game in an attacking manner, but were in no hurry to give the ball away. After long periods where they managed to maintain possession and stretch the Myanmarese defense, striker Van Quyet beat goalie Kyaw Zin Phyo in the 24th minute, following a great pass from midfielder Xuan Truong. Vietnam continued to push Myanmar back after the opener, with a clear chance missed by Van Quyet in the second half, who shot straight at the goalkeeper following a cross from veteran marksman Cong Vinh. Myanmar equalized soon after this, capitalizing on a distracted Vietnamese defense. Aung Thu picked up possession just outside the box before his left-footed shot gave goalie Nguyen Manh no chance in the 73rd minute. However Vietnam were not yet defeated and earned their three points seven minutes later when a Trong Hoang cross found Cong Vinh, who deftly prodded the ball home before Kyaw Zin Phyo could clear it, sealing the game at 2-1. In the other group game Malaysia staged a comeback to defeat Cambodia 3-2 on the same day. The Malaysians sit top of the group thanks to a better goal difference than Vietnam’s. The Vietnamese will take on the group leaders on Wednesday while Myanmar will play Cambodia. The AFF Suzuki Cup 2016 is co-hosted by Myanmar and the Philippines between November 19 and December 17. Eight teams are competing for the trophy, with Group A including Thailand, the Philippines, Singapore and Indonesia. The Thais took three points from their 4-2 win over Indonesia on Saturday, while Singapore were held to a goalless draw by the co-hosts. TUOI TRE NEWS |
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Packaging industry: Opportunities escape domestic enterprises An attractive market with a forecast growth rate of no less than 10 percent and weak Vietnamese enterprises are why foreign investors in the packaging industry have entered the Vietnamese market.  According to the Vietnam Print Association (VPA), the packaging production, package printing and printing that serves the processing industry and export have been witnessing a stable growth rate of 10 percent for many years. Meanwhile, the Vietnam Packaging Association (VINPAS) predicted that the packaging industry would have growth rates of 15-20 percent in the years to come thanks to high demand in the domestic market and for export. International analysts commented that Vietnam is becoming the world’s new production base with a series of bilateral and multilateral trade agreements. The production expansion will lead to the development of the packaging industry. According to VINPAS, Vietnam has nearly 1,000 packaging factories which make packing products of different materials, including paper/carton, metal film, plastics and PET bottles. Nguyen Van Dong from VPA believes that foreign enterprises would increase their investment in Vietnam’s packaging industry through both foreign direct investment (FDI) and merger & acquisitions (M&A). A lot of M&A deals in the industry have been reported in the last few years. A subsidiary of Thai SCG Group took over an 80 percent stake of Batico in a deal worth $44 million.
This is one of the Vietnamese largest complex package manufacturers, with 20 years of experience and big clients which are multi-national groups such as Nestle, Bayer, Henkel, Dupont, CP and Walmart, and Vietnamese enterprises such as Kinh Do, Trung Nguyen,Vifon and Vinamit. As for SCG, the group began penetrating the Vietnamese market a long time ago when it set up Kraft Vina specializing in making carton packages in the southern province of Binh Duong. Sources said it plans to spend $126 million more to strengthen the production capacity of the plant twofold. The other M&A deals include one where South Korean Dongwon Systems Corporation spent $21.86 million to buy Minh Viet Packaging and spent $38.81 million to buy Tan Tien Plastic Packaging. Prior to that, MeiwaPax Group spent $15.38 million to buy Saigon Trapaco, while Japanese Oji Holding Corp bought Bao Bi United and Sagasiki Vietnam bought Goldsun Printing & Packaging. Dong believes that in the future, the buyers will be not only investors from Asia, but from Europe as well. When asked why Vietnamese investors had sold their businesses despite the predicted high growth rate, Dong said Vietnamese investors did not think their products would be competitive after more foreign investors flock to Vietnam with more modern technologies and better management skills. Mai Chi, VNN |
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Article 1
BUSINESS IN BRIEF 21/11 Can Tho seeks stronger cooperation with RoK The Mekong Delta city of Can Tho and the Republic of Korea (RoK) hold great potentials for further cooperation, therefore, the RoK Ambassador to Vietnam should work as a bridge to bring RoK investors to the city, said a local official. During a working session with the RoK Ambassador to Vietnam Lee Huyk on November 18, Secretary of the municipal Party Committee Tran Quoc Trung said Can Tho is calling for investment in the fields of industry, hi-tech agriculture, and transport infrastructure in industrial zones. Trung informed his guest that Korean firms are investing in nine projects with combined registered capital of 340 million USD in Can Tho, notably the 171 million-USD Teakwang Vina sport shoe factory and 62 million-USD Lotte shopping mall. Can Tho has shipped rice, aquatic products and apparels to the RoK and imports materials, he said, adding that two-way trade remains modest, reaching just 45 million USD last year. While hailing Can Tho’s development potentials, Lee promised to promote cooperation between Can Tho and the RoK – the largest foreign investors in Vietnam – by introducing the city’s strengths to RoK investors. He hoped that the city authorities will support a project launched in Can Tho last month to provide vocational training for repatriated Vietnamese brides and orientations for to-be-bride women before they come to the RoK. Petrol price drops by over 500 VND per litre The prices of RON 92 petrol and bio-fuel E5 dropped 521 VND and 355 VND per litre respectively, from 3:00 pm on November 19. Following a joint decision by the Ministry of Industry and Trade and the Ministry of Finance, the prices of diesel 0.05S and kerosene also declined 514 VND and 578 VND per litre respectively. Under the joint decision, RON 92 and E5 petrol is sold at no more than 16,371 VND (0.726 USD) and 16,221 VND (0.719 USD) per litre respectively, while current ceiling price of diesel 0.05S and kerosene are 12,509 VND (0.555 USD) and 10,965 VND (0.486 USD) per litre. The ministries also decided to keep retailers’ contribution to the Petroleum Price Stabilisation Fund unchanged and give them a subsidy of 0 VND per litre. It was the first decrease in fuel prices in recent months after six consecutive hikes. It also marked the 22nd adjustment this year, with 11 increases bringing prices up by a total 5,000 VND (0.221 USD) per litre, nine cuts with a total amount of 4,463 VND (0.198 USD) per litre and two times unchanged. Chinese importers survey An Giang’s rice market Rice traders from China and the Mekong Delta province of An Giang met in the Vietnamese locality on November 18 to discuss measures to boost rice exports to the Chinese market. Deputy Director of the provincial Department of Industry and Trade Tran Thanh Tam told participants that An Giang is the country’s second biggest rice producer with an annual output of over 4 million tonnes. The province has annually shipped more than 600,000 tonnes of rice to 63 countries and territories worldwide. Its rice exporters have focused on markets in Asia, Europe, Africa, America, Oceania and the Middle East. Local businesses have taken the lead in zoning off large-scale paddy fields whose products satisfy importers’ demand. A representative of the China Food Association said China has a great demand for rice, having imported 3.9 million tonnes of rice since 2012. Chinese importers have been keen on Vietnamese rice, he said, adding that this offers a good opportunity for An Giang in particular and Vietnam in general to promote the export of agricultural products to China. Doosan Vina hailed for contributions to Quang Ngai The factory of Doosan Heavy Industries Vietnam Co. Ltd. (Doosan Vina) has helped to create the brand name for “made-in-Vietnam” heavy industrial products and contributed remarkably to Quang Ngai province’s budget, said a local official. Speaking at a ceremony marking the Korean-invested company’s 10 th founding anniversary on November 18, Chairman of the provincial People’s Committee Tran Ngoc Cang stressed that the project has also helped to reduce poverty and generate jobs for local people. He expressed his hope that Doosan Vina would continue expanding its production and business, increase the use of domestically-produced materials and equipment, and enhance technology transfer and management. Cang also called on the company to serve as a bridge connecting local firms and enterprises of the Republic of Korea, and encourage its partners to invest in Quang Ngai, thus promoting the province’s economic growth. Covering an area of 110 hectares in the Dung Quat Economic Zone, the factory has total investment of 300 million USD. It specialises in manufacturing industrial equipment such as boilers for thermal power plants, cranes for seaports, salt water filtering systems, among others. Since 2006, the company has provided products worth billions of USD for 197 projects in Vietnam, and shipped its products to 28 countries and territories worldwide. Doosan Vina General Director Yeon In Jung said, besides boosting production and business, his company has actively taken part in social activities. It has spent over 5.6 million USD on corporate social responsibility (CSR) activities in Quang Ngai. The firm has also made great efforts in protecting the environment, ensuring labour safety, transferring technology and sharing experience with Vietnamese enterprises in the field of mechanical industry. Airlines talk facilitating transport Representatives from domestic and foreign air carriers suggested the Ministry of Transport and the Civil Aviation Authority of Vietnam (CAAV) announce the plan on upgrading and expanding Ho Chi Minh City-based Tan Son Nhat International Airport so they can prepare operation plans in the time ahead. They made the suggestion at a conference on air transport policies held by the Transport Ministry in Hanoi on November 18 with the participation of such airlines as Vietnam Airlines, VietJet Air, Cathay Pacific, Thai Cargo, Cebu Pacific and Cagorlux, and airport corporations like the Airports Corporation of Vietnam (ACV) and the Vietnam Air Traffic Management Corporation (VATM). In reply, the Transport Ministry and CAAV said the upgrading will target the airport apron of Tan Son Nhat International Airport and its terminal T2 whose capacity will be raised from 10 million passengers to 12-13 million per year. The carriers also called on Vietnamese management agencies to take measures to cut operating costs in Vietnam, which, they said, remain high compared with other regional countries. Regarding this issue, CAAV explained that the operating costs in Vietnam are the third highest in the region, after Singapore and Thailand. The prices are set in line with guidelines of the International Civil Aviation Organisation and many of them have been unchanged for years. However, CAAV has offered discounts to carriers during their commercial launch of new routes to/from Vietnam, it said. Representatives of the carriers suggested establishing a committee on airport collaborative decision making in order to manage the operation of planes at airports. They also proposed administrative punishments for airlines that violate air transport regulations as well as rewards for those who have significantly contributed to rising air transport quality. Addressing the conference, Deputy Transport Minister Nguyen Nhat said the number of foreign airlines to/from Vietnam increased from nearly 20 to 55 at present. The number of international routes to/from the country also climbed from more than 20 to 100. The amount of passengers and cargos handled at the Vietnamese airports also rose by 14-15 percent annually over the past 20 years, he said. HCM City seeks development assistance from Japan Chairman of the Ho Chi Minh City People’s Council Nguyen Thanh Phong asked for more financial and technical assistance from Japan for the city’s metro and water environment improvement projects in the time ahead. At a meeting with visiting D eputy Managing Director of the Japan International Cooperation Agency (JICA) Shinya Ejima on November 18, Phong thanked and appreciated Japan’s support for infrastructure development projects of Vietnam and HCM City in particular. He called on JICA to continue helping the city implement projects using Japanese aid. For his part, Shinya Ejima affirmed Japan will try to maintain non-refundable and technical assistance for development projects of Vietnam and HCM City in particular. He said the city should enhance cooperation with private enterprises under the public-private partnership (PPP) form in order to mobilise all resources for its infrastructure projects. The JICA will cooperate with the Asian Development Bank (ADB) to continue supporting the third phase of HCM City’s water environmental improvement project, he stated, adding that the agency is willing to call on Japanese firms to work with the city in transferring technology, training human resources, and maintaining metro lines. He also highlighted the importance of synchronous transport development, committing that the JICA will consider providing more support for the construction of metro routes 3A and 3B in the coming time. Wood consumption to rise by 10% Consumption of wood products in the domestic market is expected to increase by more than 10 per cent this year from last year’s figure of $1.3 billion, according to the Handicraft and Wood Industry Association of HCM City (Hawa). Huỳnh Van Hạnh, Hawa’s standing deputy chairman, said the recovery of the Vietnamese property market this year had increased demand for wooden furniture. To capitalise on opportunities, many Hawa members have carried out plans to expand their market share in the domestic market, including employing designers, developing product lines for the domestic market, and building a distribution system. Since the ASEAN Economic Community took effect a year ago, wood products imported from the ASEAN region to Viet Nam have not increased, he said, adding that this spurred enterprises to expand their market share in the domestic market. To promote locally-made wooden furniture, home decor and handicraft products in the domestic market, Hawa Corporation have organised the annual Viet Nam Furniture and Furnishing Fair (VIFA Home) in HCM City for many years. This year VIFA Home 2016, to be held in District 11’s Phu Tho Sport Centre from November 24-27, will feature 477 booths set up by 109 local and foreign firms involved in wood processing, handicrafts, sanitation equipment and supporting services for the wood processing industry. The fair will offer opportunities for customers to shop for furniture, and interior and exterior furnishing items meeting export standards. It will offer designers, manufacturers and distributors a good chance to form co-operation to provide to the market with the best quality products at reasonable prices, Hanh said. Nguyen Quoc Khanh, Hawa’s chairman, said Viet Nam had been the largest producer and exporter of wood products in Southeast Asia for many years and the local industry is competitive in the region. According to the Ministry of Industry and Trade, Viet Nam earned $5.76 billion from wood and wooden products exports in the first 10 months of the year, a year-on-year increase of 0.8 per cent, with the US the largest importer of Vietnamese wood products, followed by Japan. Revenue from wood and wood product exports is expected to reach $7.2 billion this year. Worldwide demand for furniture remains huge, while Viet Nam’s export turnover accounts for a tiny proportion of the world’s total consumption, he said. Vietnamese banks urged to go digital Digital banking has assumed crucial importance in the development of Viet Nam’s banking system, Dao Minh Tu, deputy governor of the State Bank of Viet Nam (SBV) stressed at a recent conference. The conference themed “Digital bank - the future of banking?” was held in Ha Noi last week. At the conference, experts discussed challenges to the security of digital banking and the future of banking. Digital banking poses opportunities and challenges to the Vietnamese banking system, said Tu. Digital banking was different from traditional banking, forcing banks to continuously learn and develop, he said. William Anthony Jennings, vice chairman of the management board of the Institute of Manpower, Banking and Finance said that the digital technology era for banks had arrived. Up to 50 per cent of customers would want to switch to digital banking soon, said the vice chairman. He advised banks to consider the trend and plan accordingly. At the workshop, Douglas Jackson, regional director in the Southeast Asia for Boston Consulting Group (BCG), said that Vietnamese customers were still dependant on cash transactions. Thus, it was necessary for customers to change their thinking first before banks’ thinking changed, he said. Viet Nam is a young country, whose human resources are in the golden population structure, which creates young human resources using digital technology, according to Jackson. Dang Tuyet Dung, deputy general director of Maritime Bank, said that the bank had implemented digital banking. "Currently, the services we offer for our customers include not only internet banking but also combo packages”. Recently, as customers at big banks lost money due to online fraud, many blamed the lost money on weak security of banks. "Investments to improve information technology infrastructure and enhance security is crucial. Besides the general principles of security applying to the entire commercial banking system under the direction of the State Bank, banks also need to develop their own security measures," said Phan Thai Dung, deputy director of the Informatics Technology Department under The State Bank. At the conference, the BCG revealed the findings of study of 200 clients, which are financial institutions, to find their difficulties in digital banking. The results showed that though banks have many routes they lack a common vision for digital banking. Interfaces and systems are not integrated, infrastructures are outdated and ability to access multi-channel data is poor. However, according to Douglas Jackson, if banks can overcome these obstacles, the benefits of digital banking are huge such as increasing revenue and market share, improved performance and a competitive advantage versus competitors which can not afford digital features. PlayStation®4 officially launched in Viet Nam Sony Electronics Vietnam today announced that the PlayStation®4 (PS4™) and PlayStation®4 Pro (PS4 Pro) computer games systems will become available in Viet Nam. The new PS4, available from Thursday, and PS4 Pro available in December, will be introduced in Viet Nam. Sony Electronics Vietnam is also offering retail services for Vietnamese users. The PS4 and PS4 Pro systems and games will be available nationwide in over 60 authorised shops and dealers in Viet Nam. Along with retail stores, after sale centres are available, with some 65 Sony authorised service centers in the country. K+ offers AFF football cup promotion K+ Satellite Digital Television has announced a special promotion for watching the AFF cup 2016, which begins today in Myanmar. Any new subscriber of the Premium+ package will enjoy the HD equipment price at VND750,000, instead of VND1.3 million per set. The promotion is available nation-wide and will be ongoing from November 17 until December 11. Glasstech Asia to be held in HCM City The 14th International Glass Products, Glass Manufacturing, Processing and Materials Exhibition (Glasstech Asia 2016) will be held in HCM City from November 24-26, featuring a wide range of the latest products and technologies of the glass industry. The exhibition will feature more than 160 exhibitors from 14 countries and territories, with six national pavilions from Germany, Singapore the UK, China, Taiwan and Viet Nam. Two conferences will be held alongside the event, enabling various members of the glass industry to exchange knowledge on the evolution of glass and its role in the future, according to Adrian Tan, manager of Conference & Exhibition Management Services Pte Ltd (CEMS), one of the event’s organisers. The conferences will also explore how glass in architecture can be customized for Viet Nam’s building landscape, as well as explore how to further streamline the processes in the workplace in order to maximize efficiency and productivity. Glasstech Asia 2016 will be held concurrently with the 11th Specialized International Exhibition for the Hollow Glass Manufacturing, Machinery, Equipment & Glass Products Industry (Hollow Glass Asia) and the first International Windows, Doors, Skylights, Curtain Wall and Facade Technology Exhibition (FENESTRATION Asia 2016). Organised by CEMS and the Viet Nam Advertisement and Fair Exhibition Joint Stock Company, the exhibitions at the Saigon Exhibition and Convention Centre is expected to provide an excellent platform for industry players across the globe to tap into the growing market of Southeast Asia. Gan Geok Chua, chairman of the Singapore Glass Association, said on a global scale, the flat glass industry is expected to reach an estimated US$66.6 billion by 2019. The major drivers of flat glass are substantial growth in the automotive and construction industries. Vietnamese goods fair opens in Hanoi The Vietnamese Goods - Hanoi Fair 2016, organised by the Hanoi Department of Industry and Trade, opened at the Agriculture Trade Promotion Centre on November 19. The fair features more than 300 booths of 192 enterprises specilising in producing Vietnamese commodities such as consumer goods, key industrial products, support products, craft products. Other commodities on display at the fair are foods, drinks, fashion, shoes and garments and textiles. Besides that, nineteen provinces and cities brought their products to the fair. The Hanoi Department of Industry and Trade said the fair is a good occasion for people in Hanoi to buy high-quality goods. The event will conclude on November 24. Binh Phuoc develops local cashew nut brand The southern province of Binh Phuoc is thought to have one of the best cashew nuts in the world. To develop a brand for this product, Binh Phuoc has master-planned its cultivation areas and sought ways to increase productivity and quality, and farmers’ income. A number of farmers in Long Ha hamlet, Bu Gia Map district, have grafted cashew trees to increase productivity, inspiring cashew and farmers’ associations to build 41 high-quality cashew growing models. “The model has been widely duplicated. Each year we welcome many delegations that come to learn from it”, said Nguyen Van Hung, President of Long Ha’s Farmers’ Association in Phu Rieng district. Apart from projects designed to produce safe cashew nuts, the provincial Department of Agriculture and Rural Development has worked with the provincial Farmers’ Association to promote genetically superior cashew trees well suited to the local climate to ensure the quality of Binh Phuoc-branded cashews. Since 2007, the Binh Phuoc Cashew Association has helped Tien Hung hamlet produce safe cashew products and develop a cooperative model. Participating members have been provided with qualified seedlings, farming techniques, fertilizers, and a guarantee that all products will be bought at a predictable price. Dam Xuan Tho, Deputy Director of the Hung Phuoc Agricultural Production Cooperative in Dong Xoai town, said “Annually, members of our management board attend training courses organized by Fairtrade International (FLO). The trained managers will, in turn, provide training for farmers to turn out branded organic products which later can be sold worldwide." Binh Phuoc cashews, which account for half of Vietnam’s total cashew exports, have been shipped to China, the US, the Netherlands, Britain, and a number of other European countries. This year, the average productivity reached 1.4 tons per hectare, up 40% against 2009. There are more than 200 exporters and processors in the province with a yearly capacity of 400,000 tons of raw "For long-term development, we should pay attention to not only materials, but also expanding markets and increasing efficiency in processing and trading. Special attention should be given to getting enterprises to invest more in processing technologies to boost added values", noted Cao Duc Phat, former Minister of Agriculture and Rural Development. TPP leaders promise efforts to implement deal Leaders of 12 member states of the Trans-Pacific Partnership (TPP) have agreed to step up efforts to implement the free trade agreement as US President-elect Donald Trump has opposed the deal. The Kyodo News Agency quoted a senior Japanese official as saying that, in a meeting in Lima, Peru, the leaders affirmed their intention to advance domestic procedures such as ratification by parliaments of member states so that the US-led TPP can enter into force. They underscored the significance of the pact, both economically and strategically, in ensuring stability and prosperity for the region. According to the official, although it is unclear whether the free trade pact will come into force under a new Trump administration, the leaders did not discuss the possibility of implementing the TPP without the participation of the US. US President Barack Obama was quoted by the official as saying his administration will continue efforts to win domestic support for the pact, which Trump has vowed to scrap once he takes office in January. Meanwhile, the White House said President Obama "discussed his support of high-standard trade agreements like TPP, which level the playing field for American workers and advance our interests and values in the economically dynamic and strategically-significant Asia-Pacific region." Obama also "urged his fellow leaders to continue to work together to advance TPP," it said. For his part, Japanese Prime Minister Shinzo Abe said: "If we stop our domestic procedures, the TPP will be completely dead. It will be impossible for us to curb protectionism." The leaders met on the sidelines of a two-day summit of the Asia-Pacific Economic Cooperation (APEC) forum, at which the 21 member economies are expected to underscore the importance of free trade and open markets as the world is faced with rising protectionism and stagnated trade growth. APEC groups the TPP members - Australia, Brunei, Canada, Chile, Japan, Malaysia, Mexico, New Zealand, Peru, Singapore, the US and Vietnam - and China, Hong Kong, Indonesia, Papua New Guinea, the Philippines, Russia, South Korea, Taiwan and Thailand. HCM City ranked among top 5 real estate markets in Asia-Pacific Investors expect annual returns of 20-25%, the new Emerging Trends report says. Ho Chi Minh City is in the top five of the Asia-Pacific region for real estate investment and development prospects, with annual returns expected to be up to 25%, according to a new report. Emerging Trends in Real Estate Asia Pacific 2016, jointly published by the Urban Land Institute and consulting firm PwC, has ranked the city fifth for investment and fourth for development. Tokyo is at the top, followed by Sydney and Melbourne. Osaka and Ho Chi Minh City are neck and neck. The Vietnamese city has emerged as one of the most promising markets in the region over the past two years, jumping from the 19th place in 2014 to one of the top five this year. Foreign investors, mainly from Japan, the Republic of Korea and Singapore, are interested in the city's property market on expectations of an annual return of between 20 and 25%, according to the report. The report also attributes the city’s rise as an attractive destination to the government’s efforts to stabilize the local currency, control inflation, ease property lending and improve market access for foreigners. Global investors prefer entering Vietnam’s real estate market through mergers and acquisitions. They are laying eyes on a wide range of projects, from beach resorts, serviced apartments, residential buildings to hotels, mostly in the three major cities Hanoi, Ho Chi Minh City and Danang. For instance, Singapore-based investment fund Frasers Centrepoint Limited has acquired a 70% stake in a luxury residential apartment project from a local real estate developer. The US$100-million project, namely G Home, covers a one-hectare area in downtown Ho Chi Minh City. Emerging Trends is based on the opinions of 343 internationally renowned real estate professionals, including investors, developers, lenders, brokers and consultants. Vietnam to pull in more investment next year: CEO survey Half of respondents plan to expand in the country over the next 12 months even though confidence in the Asia-Pacific region has taken a hit. Just 28% of CEOs in the region are “very confident” in revenue growth in 2016, according to the Asia-Pacific Economic Cooperation (APEC) CEO Outlook survey conducted by PricewaterhouseCoopers. Vietnam, however, remains an attractive option, together with China and Indonesia. Over the next 12 months, more than half of the respondents believe that investment in Vietnam will increase thanks to its population of over 90 million and its rapid growth of income per capita. Responses came from 800 CEOs operating in the 21 economies of the APEC region. For many CEOs, free trade agreements will support small and medium-sized enterprises and provide a path to growth for the region. “The best thing you can do for SMEs is to remove trade restrictions. The more we can trade, the more companies benefit,” said Mike Smith, CEO of Australia and New Zealand Banking Group Limited. However, some have warned that lowering barriers to trade and foreign investment may do more harm than good to SMEs, arguing that free trade may intensify the competition between SMEs and global firms. In Vietnam, 97% of the companies are SMEs, so with the door opened under free trade agreements, they have to compete with foreign companies, said Hoang Van Dung, chairman of Vietnam APEC Business Advisory Council, calling this "the biggest challenge." Hitachi expands elevator, escalator footprint in Vietnam Hitachi Ltd, headquartered out of Tokyo, Japan, has announced that it has expanded its footprint into the elevators and escalators sales and services segment in Vietnam with the opening of a wholly owned subsidiary. In making the announcement on November 18, representatives said the newly formed subsidiary – Hitachi Elevator Vietnam – will widely render full-services from sales to maintenance for elevators, escalators and moving sidewalks. In Vietnam, the reps noted the demand for urban railway systems, hotels, office buildings and residential buildings has been steadily on the upswing due to recent rapid growth of the urban population. Hitachi Ltd has forecast that the demand for elevators and escalators that enable smooth transfer of people and freight in these metropolitan areas will also robustly grow at more than a 7% per annum rate over the next few years. The reps added that Hitachi had received an order for 32 sets of elevators and 31 sets of escalators in 2015 for elevated station buildings of the Urban Railway Line 1 in Ho Chi Minh City, which is the first urban railway system in Vietnam. Following this, the company had begun sales of a new machine-room-less elevator (MRL) for Asia and the Middle East, which has been gradually released since September 2016. Hitachi, with this MRL model, plans to enhance its market share of elevators and escalators in Vietnam. Hitachi Ltd, delivers innovations that answer society's challenges with their talented team and proven experience in global markets, said the reps. The company's consolidated revenues for fiscal 2014 (ended March 31, 2015), the latest year for which audited figures are available totalled US$81.3 billion. For Vietnam's hi-tech sector, skilled workers remain elusive The labor shortage is an obstacle in Vietnam's ambition to move up the value chain and away from the traditional low-tech model. Thousands of people attended a recent job fair at Saigon High-tech Park (SHTP), seeking opportunities to work for one of the companies here. A total of 23 companies, out of around 100 tenants at SHTP, were trying to find the best candidates for their 1,000 vacancies. To their disappointment, many job seekers were not qualified and 300 positions remained unfilled. “Recruitment has become very difficult and takes a long time,” said Henry Pham, human resources director of Nidec Vietnam, a fan manufacturer with over 3,000 employees. Duong Minh Tam, deputy manager of SHTP, said the tech park, which has attracted around US$5 billion of investment, now has 32,000 workers but a majority are low-skilled. The number of workers with college degrees is very small, Tam said, adding that it's difficult for SHTP to reach its goal of producing more products with high added value. Statistics show that high-tech products contributed 28.7% in Vietnam’s gross domestic product in 2013, up from 19.1% in 2012 and 11.7% in 2011. The target for 2020 is 45%. “For high-tech parks, 35% to 45% of the workforce should have college-level or higher degrees,” said Tam. “Working in an industrial high-tech park requires a matching level of education.” Yet, ironically enough, a report from Vietnam’s Ministry of Labor showed that many people with college degrees could not find jobs. It said as of the second quarter, 39% of 1.09 million unemployed people were well-educated professionals, half of them with college and post-graduate degrees. Dr Le Van Hien, an expert in vocational training, said the problem lies in the unbalanced structure of the labor market and a disconnect between businesses and schools. Hien said the pressure to earn a bachelor’s degree has been drawing young people away from occupational training, which leads to a severe shortage of skilled labor despite the large working-age population. Vocational training has not been able to match the demand of businesses, he added. SHTP aims to increase the ratio of its skilled workforce with vocational training or college education to at least 80% by 2020. But experts said the target is not easy to achieve. Many companies now take training into their own hands, despite the risk of spending a lot of money and ending up losing the employees to other companies. “I hired some people and offered to provide vocational training. However, some workers broke their promises of working for us for at least three years and just left," said Hong Nhung, a recruitment officer for a company in SHTP. Agreement helps Vietnam boost timber exports to EU Vietnam and the European Union (EU) have basically concluded the Voluntary Partnership Agreement on Forest Law Enforcement, Governance and Trade (VPA/FLEGT) after nearly six years of negotiations. Minister of Agriculture and Rural Development Nguyen Xuan Cuong and European Commissioner for Environment, Maritime Affairs and Fisheries Karmenu Vella co-chaired a press conference in Hanoi on November 18 to announce the agreement. The VPA means to ensure the legal export of all timber products and help the Vietnamese wood sector obtain sustainable development and expand foreign markets, especially the EU. It also aims to prevent illegal logging and strengthen forest governance and promote trade in legally produced timber. Under the agreement, Vietnam will build and operate a timber legality assurance system (VNTLAS) in line with the country’s situation and the EU's requirements on tracing the origin of legal timber in the supply chain. Minister Nguyen Xuan Cuong said the full operation of the VNTLAS will signficantly contribute to ensuring the origin of Vietnamese legal timber export to the EU and other markets. The FLEGT license will allow Vietnamese businesses to export wood products to the union without taking accountability on the origin of legal timber products, he added. Commissioner Karmenu Vella suggested focusing on the implementation of the agreement to achieve social, environmental and economic targets. The key commitments are establishing a strong and reliable system which is involved by parties concerned and effective mechanisms to detect any violations and ensure law enforcement, he said. The EU will strictly monitor Vietnam ’s realisation of the VPA and pledged to support the country’s efforts in this field, he confirmed. Vietnam and the EU began negotiations on the VPA/FLEGT in October 2010. The country conducted 10 high-level and 18 technical negotiating sessions before reaching a conclusion. Central region seeks to restore tourism Tourism enterprises, experts and managers on November 17 discussed ways to promote tourism in the north central region after the massive fish death crisis that hit the coastal areas in April. The conference attracted representatives from Thanh Hoa, Ha Tinh, Nghe An, Quang Binh, Quang Tri and Thua Thien-Hue provinces. Nguyen Van Tuan, head of the National Administration of Tourism (VNAT), officially launched a campaign to revive the tourism industry, which suffered serious loss recently. “The environmental trouble caused major losses for the local economy, including tourism,” he said. “People are still afraid of travelling to the central region, as they doubt the safety of seafood and water. Many popular tours have been cancelled.” By the end of this month, the VNAT will organise two familiarisation trips for the media and travel agents from Hanoi and HCM City to the north central region to promote tourism products. Next month, the VNAT will hold a road-show in Bangkok and Udonthani (Thailand) to introduce the region to the Thai market, which is close and accessible for overland travel. Le Tran Sang, Vice Director of the Ha Tinh Department of Culture, Sports and Tourism, suggested that apart from beach tourism, the northcentral region can lure tourists with cultural and spiritual products. “Ha Tinh will promote tours to historical relics, pagodas and ecological sites in the near future,” he said. “While we overcome the environmental disaster, we can also still promote local tourism with the rich and diverse traditional culture and cuisine.” Also the same day, the Institute for Tourism Development Research met with media and tourism agency representatives in the north central region. “The tourism potential of the region is very big and we should find a strategy to promote and invest effectively,” said Nguyen Anh Tuan, director of the institute. Solutions include creating specific products that can’t be found in other regions, opening new tours, and upgrading the regional Dong Hoi Airport.- Plan approved for 2016-2020 implementation of ASEAN and national OSS mechanisms The Prime Minister has approved a master plan for the implementation of the ASEAN and national One-Stop-Shop (OSS) Customs Mechanisms in the 2016-2020 period. Specifically, the plan aims to complete the implementation of all administrative procedures of ministries and sectors managing the exit, entry and transit activities of commodities, people and vehicles, through the national OSS mechanism by 2020. The customs clearance time relating to OSS procedures must coincide with that of the four nations leading the ASEAN region regarding the issue, while 100% of the administrative procedures performed via the national OSS mechanism have their charges and fees collected online, it notes. The plans stipulate a number of measures to implement the mechanisms from now until 2020, firstly including completing the legal basis and accelerating administrative reform, aiming to create a full legal corridor for the use and exchange of electronic vouchers and dossiers with domestic administrative procedures and those of other countries, economic blocs and communities. Secondly, legal documents must be reviewed, adjusted and supplemented in orientation towards reducing unnecessary forms, simplifying implementation steps as well as the vouchers and dossiers that need to be submitted, and reusing information, e-vouchers and administrative decisions belonging to saved dossiers on the national OSS portal. The third measure is to build a national database for electronic forms and vouchers in the administrative and commercial fields, to be generally applied in procedures performed through the national OSS mechanism, while creating a legal basis for the use of the services offered by a third party to provide utilities for both businesses and state agencies in performing administrative procedures via the ASEAN and national OSS mechanisms. Under the plan, the national OSS portal should have all technical elements completed in order to implement the ASEAN OSS mechanism in line with the roadmap and ensure the exchange and handling of trade documents with countries and economic blocs and community as well as between enterprises, aiming to facilitate trade and enhance the national competitiveness. Vietnam currency firmer against hard currencies The Vietnam dong currency has strengthened against strong currencies since the surprise outcome of the U.S. presidential election last week while the local gold price has edged down 4%. In the four days after Republican Donald Trump’s election win, the dong rose 4% against the Japanese yen and nearly 3.5% versus the euro. Meanwhile, banks quoted gold at around VND35.7 million (US$1,594.8) per tael on November 13, a sharp decline from VND37.2 million before Election Day (November 8). A tael equals to 1.2 troy ounces. The foreign exchange market became volatile in tune with global financial market movements, with the yen losing 6.7% against the U.S. dollar in less than 100 hours after the U.S. election and the euro falling 4.5%. The yellow metal also retreated, tumbling from over US$1,300 to US$1,227 an ounce. Before the election, Wall Street experts and investors forecast gold would hit U$1,500 an ounce on the backdrop of the dollar fall if Donald Trump won the White House race. On the contrary, the dollar would be firmer against the currencies of G7 industrialized economies if Hillary Clinton was the winner. The dollar soared while the Dow Jones hit a record high of 18,847 and gold tumbled, breaking the usual pattern that risky assets would dip when a currency gets firmer. In Vietnam, the dong remained stable against the greenback, hovering at VND22,360 to VND22,370 per U.S. dollar. Since early September, the domestic currency has lost a slight 0.13%. The State Bank of Vietnam’s central rate has increased 0.62%, meaning the dollar has appreciated 0.62% versus the dong since early September and 0.76% since early this year. Banks and traders on the informal market have barely revised exchange rates, an indication that dollar supply is ample. Notably, the dong has stabilized against the Chinese yuan. Since early this year, the yuan has dropped 4.6% against the dollar, the biggest fall in nearly 30 years. CIEM: Thruway tolls too high Tolls on build-operate-transfer (BOT) expressways in Vietnam are much higher than in other countries, according to a report of the Central Institute for Economic Management (CIEM). The report, released last week, says the average thruway toll is around VND1,500 per kilometer in other countries. But in Vietnam, the highest fee applicable to trucks of over 18 tons and 40-feet container vehicles is VND840,000 (US$37.6) on the 105-kilometer Hanoi-Haiphong Expressway while the lowest fee is VND160,000 for passenger vehicles of under 12 seats. For the 245-kilometer Noi Bai-Lao Cai Expressway, the fee ranges between VND300,000 and VND1.22 million for vehicles using the entire road. Among the expressways recently opened to traffic, several were upgraded from national highways such as Phap Van-Cau Gie, Hanoi-Bac Giang and Hanoi-Bac Ninh. Though those roads do not meet expressway standards, vehicles have to pay a high charge to use these roads. The four-lane Phap Van-Cau Gie road was built in 2002 and in 2013 the Ministry of Transport licensed a BOT consortium to upgrade it into an expressway in two phases with the first phase re-asphalting the road at a total cost of VND2 trillion and the second phase adding two more lanes. However, the 32-kilometer road does not meet thruway standards but the toll is VND1,500 per kilometer, or VND480,000 for using the entire route. CIEM suggested the Government consider lowering the fee and the duration of toll collection for the benefit of the community. Cost overruns are often seen in many expressway projects, leading to high toll levels, the report said. For example, investors of HCMC-Trung Luong Expressway originally registered VND6.5 trillion for the project but the final figure was VND9.9 trillion. Investors of Cau Gie-Ninh Binh Expressway adjusted up the cost from VND3.7 trillion to VND8.9 trillion while capital for Hanoi-Haiphong Expressway was almost doubled to VND45 trillion. Expressway construction costs in Vietnam are extremely high while road quality is lower than international standards. US$25.8 million was spent on each kilometer of Ben Luc-Long Thanh Expressway while the average cost in China is US$10.9 million and US$17.4 million in the U.S. In addition, many expressway projects have been dogged by long delays, which have led costs to rise. CIEM also pointed out in the report that the Government has not managed expressway toll collections well as it mainly depends on reports submitted by investors. The institute asked the Government to tighten controls on toll collections of BOT projects and ensure transparency in the toll collection process. In addition, expressway investors largely rely on bank loans as their equity accounts for 10-15% of project costs, and this is a key reason behind high tolls, said the institute. BOT road toll collection time to be shorter Many BOT projects have consumed less cash than originally approved after their financial statements were approved, meaning their toll collection durations will be shortened. The financial statements of a number of BOT projects like the widening of National Highway 1A and Ho Chi Minh Highway sections through the Central Highlands show the actual investment costs are lower than the originally approved levels. Specifically, the BOT project for development of the Ho Chi Minh Highway section passing through Dak Nong Province was initially planned to cost more than VND1.02 trillion. But the actual figure was only VND634 billion. Similarly, the highway section running through Dak Lak actually needed VND724 billion only, whereas the earlier approved number was VND836 billion. As for the section passing through Gia Lai Province, the number provided in the financial statement is nearly VND1.3 trillion, down from VND1.77 trillion. The situation is the same at a number of other BOT projects. For example, the National Highway 1A section in Binh Thuan used over VND2.19 trillion, down from the original VND2.6 trillion. Meanwhile, in the renovation of the Phan Thiet-Dong Nai section of National Highway 1A, VND1.94 trillion was spent compared to the approved VND2.08 trillion. The Ministry of Transport said the actual costs of some projects are equivalent to around 70% of the original estimates. Explaining this situation, Nguyen Viet Huy, deputy head of the public-private partnership project management department under the Transport Ministry, said the originally approved investment levels served as a basis for investors to plan and manage their capital in the construction process, not the actual value used for determining the toll collection duration. To accurately calculate tolling time, the Ministry of Transport will look at audits conducted by independent entities or the State Audit of Vietnam to settle payments for investors and reconsider contract terms and toll collection time. Therefore, many BOT projects will have a shorter duration of toll collection than originally planned after their financial statements are approved. Besides, the Ministry of Transport and the Ministry of Finance have considered asking future BOT projects to complete their financial statements before the start of toll collection to make the investment costs of these projects transparent. In August 2016, following the audits of the BOT road and bridge projects, the State Audit of Vietnam requested the Transport Ministry to cut toll collection time at four projects by at least five years. The time was even slashed from 24 years to 13 years at some toll stations. Firms can continue borrowing in foreign currency The State Bank of Vietnam may allow commercial banks to continue offering short-term loans in foreign currency for corporate clients until the end of next year. The central bank is seeking comment on a draft circular revising and supplementing some articles of Circular 24/2015/TT-NHNN that permits local banks and foreign bank branches to continue lending in foreign currency to businesses. According to the draft, the extension is aimed at helping companies gain easy access to short-term capital to produce goods, especially for export. Borrowers are required to have sufficient foreign currency revenue from export activities to repay loans. Upon getting loans, borrowers must immediately sell foreign currency to lenders based on the spot foreign exchange trading method, but this will not apply if foreign currency loans are used to directly make payments. The central bank issued Circular 24 banning commercial banks from providing foreign currency loans for exporters from April 1, 2016. However, enterprises have since complained the ban has stripped them of cheap foreign currency loans. In late May, the central bank issued Circular 07/2016/TT-NHNN allowing companies having demand for short-term loans in foreign currency to borrow from banks to satisfy their short-term capital needs. The decision is valid till the end of this year. VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VET/VIR |
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Social News 21/11 Rhino horn smuggling case busted in HCM City  The Police Department for Smuggling Prevention (C74) under the Ministry of Public Security on November 20 uncovered four kilograms of rhino horn smuggled from central Nghe An province to Ho Chi Minh City. The police detained Nguyen Duc Nguyen, from Nghe An, for further investigation. Earlier, on November 18, Nguyen was arrested just after he got off the flight at the Tan Son Nhat Airport. Checking Nguyen’s luggage, the authorities discovered a big rhino horn weighing four kilograms worth some 4 billion VND (180,000 USD). Vietnamese expats in Malaysia updated with East Sea issue The staff of the Vietnamese Embassy and Vietnamese expatriates in Malaysia gathered on November 19 to discuss the regional situation, with the focus placed on the East Sea issue. Addressing the event, Vietnamese Ambassador to Malaysia Pham Cao Phong said the talk is one of the embassy’s agenda, which aims to provide the most updated and exact information about the regional situation, including the East Sea, for the Vietnamese community in Malaysia. Vu Hai Dang, First Secretary at the embassy, presented a number of contents such as disputes in the East Sea between China and the Philippines, the UN Convention on the Law of the Sea 1982 (UNCLOS), the Philippines’ lawsuit against China at the Permanent Court of Arbitration (PCA), and Vietnam’s response to the case. Dang also answered questions of the participants concerning the legal status of islands in sea delimitation. Concluding the talk, Ambassador Phong called on the Vietnamese expats to actively take part in fighting for their homeland’s sovereignty, particularly in sharing their knowledge on the East Sea issue with international friends. Office workers and students by day, good samaritans at night Earlier this week, at 10:30pm, a motorcyclist stranded on National Highway 51 called Team 177’s phone number. The team immediately left for the scene. All in a night’s work for Team 177. Members of the group, who work in offices or study at universities, can be seen helping victims of traffic accidents, motorbike breakdowns and even robberies at night. Nguyễn Hữu Lợi, 25, a financial consultant, founded the team. “Each member of our team has faced accidents and risks, so they want to help people in vulnerable situations,” he says. In addition to calling the police, people who face risks, accidents or attacks can call Team 177 at 0911 131 117. After a day’s work, members of the team gather at a coffee shop near Tam Phước Industrial Park to talk to people who face risks of various kinds. “Societal conditions will improve if everyone, in even small ways, tries to help others,” Lợi says. Hoa Binh province marks 130th founding anniversary The northern mountainous province of Hoa Binh held a ceremony in November 19 to celebrate its 130th founding anniversary and its 25th re-establishment. Attending the event, Politburo member, Permanent member of the Party Central Committee’s Secretariat Dinh The Huynh lauded the province’s achievements despite difficulties. He suggested Hoa Binh province make the best use of its geographical location close to Hanoi to supply farming produce and other services to the capital city and neighbouring areas. Tremendous tourism potentials are also the strength of the province, he added. Huynh recommended the local authorities to lead the economy toward a market economy and prepare for international integration, stressing that more attention should be paid to start-up enterprises. On this occasion, on behalf of Party and Government leaders, he granted an Independence Order, first class, to the province. At the ceremony, the local Muong ethnic minority group’s Mo ritual singing and gong performance were announced as national intangible heritage. Spanning nearly 4,600 km2, Hoa Binh now consists of 10 districts and one city with a total population of more than 830,000. In the past 25 years, the province has recorded an annual average growth rate of 8.7 percent and raised the agricultural output to above 360,000 tonnes per year. Income per capital in 2015 stood at 36.5 million VND, 50 times higher than that of 1991. As part of its founding celebrations, Hoa Binh is hosting a gardening festival that will last until November 25. Deputy PM vows to support IFRC’s operations in Vietnam The Vietnamese Government will create best conditions for the International Federation of Red Cross and Red Crescent Societies (IFRC) to implement its humanitarian activities and joint projects with the Vietnam Red Cross Society (VRCS). Deputy Prime Minister Trinh Dinh Dung made the promise at his meeting with IFRC President Tadateru Konoe in Hanoi on November 19. He hailed the effective assistance of the organisation and its local member – VRCS – toward victims of war and natural disasters in Vietnam. The Deputy PM talked about the suffering of the central region due to serious floods in recent months, hoping the IFRC will increase support to the central people by calling for more international aid. Dung also expected the IFRC to help the VRCS improve capacity and form connection with humanitarian organisations in the world. For his part, Konoe said the current visit to Vietnam offers him an opportunity to see the growth of the VRCS after 70 years of operation with great support from the Vietnamese Government. He stated that the IFRC will continue assisting the VRCS in launching humanitarian aid in the country, particularly in response to natural disasters. Seminar seeks ways to enhance Vietnam-France ties Officials, diplomats and experts from Vietnam and France gathered at a seminar in Paris on November 18 to discuss measures to enhance the bilateral strategic partnership signed in 2013. Speaking at the opening ceremony, President of the France-Vietnam Friendship Parliamentarians’ Group, Senator Catherine Deroche hailed positive changes that Vietnam has made to develop itself into one of the most dynamic economies in the Asia-Pacific, as well as the extensive development of bilateral ties via effective projects. Vietnamese Ambassador to France Nguyen Ngoc Son, for his part, said since 1993, France has been the second largest bilateral donor of Vietnam, behind Japan, promising 3 billion EUR (4.2 billion USD). With 3.4 billion USD worth of total investment, France is now the third largest European investor in Vietnam and ranks 16 th among countries and territories investing in the country. Last year, two-way trade hit 4.3 billion USD. The success of the “France-Vietnam Cultural Exchange Year 2013-2014” has made France the second popular destination chosen by Vietnamese students. Currently, France is the 15th biggest importer of Vietnamese goods and the 13 th largest supplier of commodities to Vietnam. Statistics last year showed that the volume of French goods in Vietnam remains modest, accounting for nearly 1 percent, behind Germany and Italy. According to the ambassador, the annual high-level economic dialogue affords a chance for both countries to touch upon strategic trade and investment issues and remove trade hindrances. The opening of the Business France bureaus in Hanoi and Ho Chi Minh City also makes it easier for French enterprises to access Vietnam, he said. In his speech, Ambassador Christian Lechervy, French Permanent Secretary for the Pacific, underlined Vietnam’s important role in multilateral organisations such as the United Nations and the Association of Southeast Asian Nations (ASEAN). He also mentioned the peaceful settlement of disputes in the East Sea to ensure an environment conductive for cooperation and development. Participants also attended two round-table discussions themed “Economic cooperation and sustainable development” and “France-Vietnam strategic partnership”, during which they proposed initiatives and measures to deepen bilateral ties. Vietnamese students in Czech Republic honoured The Vietnam Embassy in the Czech Republic on November 19 awarded 55 Vietnamese students who have recorded outstanding achievements during the 2015-2016 academic year. The students have obtained excellent academic results, with many of them winning local, national and international competitions on mathematics, physics, languages, music and chess, among other subjects. At the ceremony, Vietnamese Ambassador to the Czech Republic Truong Manh Son lauded efforts made by the younger generation of Vietnamese expatriates to secure top places at various competitions. He thanked their parents for educating such a bright generation, saying this will help the Vietnamese community enhance their position and contribute more to the European country. On behalf of parents at the event, Le Hoai Trung, whose two son were awarded, stressed that despite difficulties, Vietnamese expats have always prioritised the education of their children and reminding them of their roots. PM expects VNU-HCM to rank among top Asian universities Prime Minister Nguyen Xuan Phuc has expressed his hope that the Vietnam National University – Ho Chi Minh City (VNU-HCM) will achieve its target of ranking among top Asian universities and becoming a source of brainpower and start-up incubation. During a working session with the VNU-HCM staff on November 20 on the occasion of the 34 th anniversary of Vietnamese Teachers’ Day, PM Phuc said the university must successfully exercise self-reliance mechanism in line with international practices, as well as pay attention to accountability and social responsibility. As the VNU-HCM is building a modern university urban area, the first of its kind in the country, on an area of 643.7ha in Thu Duc-Di An – a gateway to the northeast of Ho Chi Minh City, the PM requested greater efforts to complete site clearance as soon as possible, which has so far reached 73 percent. He also encouraged the VNU-HCM to attract social resources for its development and further expand ties with foreign partners to improve the quality of teaching and learning. The government, ministries, agencies and localities, including Ho Chi Minh City and the neighbouring province of Binh Duong, will provide all possible support to the university during the process, he said. The VNU-HCM groups six member universities; including the University of Technology, the University of Science, the University of Social Sciences and Humanities, the Ho Chi Minh City International University, the University of Information Technology, the University of Economics and Law; the Institute of Environment and Natural Resources; and the Faculty of Medicine along with more than 30 affiliate members. In the QS university rankings this year, the VNU-HCM was listed among the top 150 universities in Asia for the first time, ranking 147 th , up five places from 2015. Vietnamese students in UK join business strategy competition Vietnamese students left an unforgettable impression during a business strategy competition held at Queen Mary University in London on November 18. Seven teams competed in the event, each grouping six members, mostly second and third-year students. They were assigned to present a SWOT analysis on the status of a television producing company, including strengths, weaknesses, opportunities and threats, based on which, they must answer whether the company should develop computer-generated imagery technology or resort to outsourcing, and which strategy it should take to achieve set goals. After three-hour discussions, each team presented its ideas within six minutes and answered questions from employers such as Deloitte, Ernst & Young, Navigos Search, Nexia STT, UHY, Zuellig Pharma and Kaplan. At the end of the competition, MTN team became the winner and its member To Tong Minh Hoang was honoured as the most impressive presenter. The competition was hosted by the Institute of Chartered Accountants in England and Wales. Teachers’ Day cement teacher-student bonds Vietnam Teachers’ Day on November 20 is celebrated nationwide. On November 20 Vietnam’s education sector honors teachers and enhances the bond between teachers and students. The celebration reflects a long Vietnamese tradition of respecting teachers and education. “Teachers’ Day is a day to honor our teachers’ merits. To repay their service, we’ll strive to be good students in order to become useful citizens", said Ngo Thuy Tien at Marie Curie secondary school in Hanoi. The commitment of teachers to delivering good lectures and training students has been central to education sector reforms. Nguyen Van Gioi, a teacher at from Phuc Tho High School in Hanoi, said giving lectures to students is a matter of teachers continually improving their own morality and knowledge. At a meeting on Teachers’ Day, Ho Chi Minh City authorities pledged to reform teaching methods to improve education. “Teachers have a profound responsibility because students spend much of their time at school. Teachers should be as wholeheartedly devoted to their students as their parents are", said Vice Rector of Tan Phong High School in district 7 Le Quang Dat. Teachers have contributed to national education reform by adapting their teaching methods to training high quality human resources for national development and integration. More than 3,000 applicants set for Korean language exams More than 3,000 applicants have registered to set for the Korean language exams on November 19-20, passage of which is a prerequisite for becoming a guest worker in the Republic of Korea (ROK). The exam is administered by the Ministry of Labour, Invalids and Social Affairs in collaboration with the Human Resource Development Service of Korea in Nghe An Province. Applicants must undergo two rigorous rounds of exams designed to test their fluency in the Korean language. If any applicant is caught cheating they are automatically disqualified and banned from retaking the exam for two years. Curriculum vitae of contestants who successfully score passing grades on the exam will be forwarded to employers for further screening. Around 1,300 applicants will have the opportunity to work in the ROK next year. Previously, in early October, more than 21,000 workers sat for the Korean language exams in their quest to secure a manufacturing job in the ROK, which offer salaries around US$1,000-1,500 per month. Aussie robbed by men disguised as flirty women in Saigon Police in Ho Chi Minh City arrested two robbers dressed as women who flirted with an Australian man and snatched his phone in the backpackers’ area on November 18. The men, 29 and 41, drove a motorbike and approached the victim, who was walking on Pham Ngu Lao Street in District 1 early in the morning, police said. One of them started walking alongside the foreigner, groped him and then snatched the phone from his pocket. Two men arrested in Ho Chi Minh City on November 18 for allegedly snatching a phone from an Australian man. The duo quickly fled on their motorbike, but they were caught by police soon later. Both admitted that they had used the same trick on many male tourists walking in the area. Ho Chi Minh City is a popular destination among foreign visitors. While the city is generally believed to be safe, street crimes targeting foreigners have remained an issue. Foreign arrivals to Ho Chi Minh City increased 12.2% from a year ago to more than 2.43 million in the first six months, according to the city’s tourism department. A September survey by MasterCard named the city among 20 fastest-growing tourist cities in the world since 2009, with 9.22% annual growth. Ca Mau preserves coastal protective forests The Department of Agriculture and Rural Development of the southernmost province of Ca Mau has taken measures to effectively protect coastal protective forests. Accordingly, the department has urged the provincial Forest Management Department and sub-departments of Ngoc Hien, Nam Can, Dam Doi and Phu Tan districts to launch activities to raise local people’s awareness of protecting protective forests and aquatic resources. The department also joins hands with the Forest Management Board, local authorities, border guards and relevant agencies to increase patrols to prevent deforestation and illegal exploitation of forest products. Ca Mau is also paying special attention to improving the efficiency of forest management. The province has banned local farmers from illegally residing in and near the protective forests. Head of provincial Forest Management Department Le Van Hai highlighted the stable forest management and development of Ca Mau as violating cases dropped over years. The mangrove forest of the Ca Mau National Park, which was damaged severely during 2012-2013, has improved with tight management, he added. However, illegal forest exploitation and coal cellar building still exist in some areas of the province, along with forest product trafficking. Over the last five years, Ca Mau province has reported more than 1,300 cases of forest product transport and deforestation. In the first 10 months of 2016, local authorities handled 196 forest protection violations. Employers must be sued over insurance debts: officials One of enterprises that have delayed or avoided paying social insurance for their employees have been brought into court although labour unions, on behalf of the employees, have the right to sue them, the Việt Nam General Confederation of Labour (VGCL) said yesterday. Speaking at a conference about measures to crack down on insurance debtors yesterday, VGCL Vice Chairman Mai Đức Chính said that labour unions were given legal tools in January to take enterprises to court. Việt Nam Social Insurance and the VGCL even signed a co-operation agreement to provide data and ensure the rights and benefits of employees. The VGCL had required localities to sign commitments to strengthen debt collection and press suits if necessary. However, 16 localities had not yet signed their commitment and none of the debtors have been sued so far, he said. As regulated, every enterprise with more than 10 employees was supposed to jointly pay for workers three types of insurance, namely social insurance, health insurance and unemployment insurance. However, many intentionally ignored, delayed or refused to pay, according to the official. Việt Nam Social Insurance reports show that accumulated social insurance debt in the past ten months was some VNĐ9.55 trillion (US$382 million). Debt of more than three months total VNĐ6.8 trillion ($272 million), accounting for 72 per cent of the total. The total deb for the three types of insurance was VNĐ14.2 trillion ($568 million), an increase of 0.2 per cent compared to the same period last year. By November 15, only 78 per cent of total debts had been collected, seriously affecting employee benefits. Under the Law on Social Insurance, employers must pay 17 per cent of their employees’ monthly salaries and employees pay six per cent. With this cover, employees can enjoy financial support when they are sick and unable to work. Nguyễn Trí Đại, Head of Việt Nam Social Insurance’s Social Insurance Department, said enterprises avoid paying insurance either because they are in financial troubles or because they are unaware of their legal duty. Lax management of social insurance companies in localities also contributes to the problem, he added, citing a company in southern An Giang Province as an example. The company failed to collect debts for more than 60,000 local beneficiaries of social welfare since early January last year. Representatives of cities and provinces say a shortage of human resources, complicated suing procedures and a shortage of guideline on suing were the main reasons that labour unions hesitate to sue on behalf of workers. To solve the problem, vice chairman of the VGCL Chính asked labour unions to hasten the completion of suits and relevant documents over insurance debtors and transfer them to the people’s courts. Any difficulties during the procedures must be reported to the VGCL. He requested each locality to get between five to ten lawsuits to the people’s court by the end of this year. Việt Nam Social Insurance would co-operate with VGCL to set up teams to supervise implementation of the task in localities, he said. State-owned firms with large numbers of labourers, especially in the fields of transport, mechanics and textiles and garments, have been guilty of violations. Strong measures such as fines of up to VNĐ30 million ($1,650) do not seem to deter the debtors: many would rather pay these low fines than their social insurance debts. – VNS Hà Nội to curb health facilities overspending The Hà Nội’s Department of Health, in co-operation with the city’s health insurance fund, will inspect about 50 health facilities overspending their health insurance funds in the past nine months. The inspectors will determine why the cost and frequency of treatment at certain facilities have increased. Prescriptions and other medical regimen will also be monitored for abuse or profiteering from the health insurance fund. According to the city’s health insurance fund, the overspending of the fund was 1 per cent. As many as 73 hospitals exceeded the fund by a total of more than VNĐ200 billion (US$8 million). To curb overspending, the city has asked the inspection unit of health insurance funds at hospitals to strengthen operations and refuse to pay for costs failing to meet the fund’s requirements. The city’s People’s Committee has required localities to reach health insurance coverage for 80 per cent of the population by the end of this year and 90 per cent by 2020. HCM City university supports disabled students Library staff at the HCM City University of Social Sciences and Humanities plan to develop audio and brallie books for students with visual impairments at the university. The books are one of four initiatives chosen for be granted funds from a project designed to help university students with disabilities to access education carried out by the HCM City Disability Research and Capacity Development (DRD) Centre under the sponsorship from the Embassy of Ireland. Bùi Thị Hằng, director of the Library and Information Centre at University of Social Sciences and Humanities and the initiative’s team leader, said that the university has 10 students with visual impairment. Because of this disability, these students can not access documents at the library, Hằng said. “Currently, they just learn and research by hearing and writing down what lecturers say. Moreover, they access the free source of documents on Internet, but many of them are not verified,” she told Việt Nam News. Many of them take initiative in going to the library, but there are no audio and brallie books in the library to serve them, she added. In the initiative, the library’s staff also will be trained to guide these students to use effectively the library’s documents, Hằng said. It is expected that the audio and brallie books will be available next January, she added. Another initiative of lecturers from the Education Faculty at the University of Social Sciences and Humanities that has been provided funds will provide psychological counselling and other assistance services in learning for students with disabilities at the university, Lê Thị Yên Di, its group leader, said. At the Education Faculty, a counselling and assistance room for these students will be opened, she said. Two other initiatives of lecturers and staff at the city University of Education include developing a brallie map for its students with visual impairment to know the way to classrooms and providing an assistant for students with disabilities at the university. The project to help university students with disabilities to access education started at the two universities of Social Sciences and Humanities, and Education in January. Later, the DRD centre aims to expand the one-year project to other universities throughout the city. In the project, students with disabilities will raise their capacity to know and implement the rights of education and comprehensive development. They are also provided learning aid devices or volunteers who are ready to support their learning. It also aims to improve the awareness of university staff on providing necessary assistance to students with disabilities. Moreover, students will get support in seeking enterprises for internships or jobs after graduating. Lưu Thị Ánh Loan, the centre’s acting director, said that students with disabilities in the country still face difficulties in learning at universities and colleges. For instance, infrastructure there is not accessible for them. According to the 2009 Population and Housing Census in Việt Nam, the country has 6.1 million people with disabilities age 5 and above, or 7.8 per cent of the total population. Of them, less than 0.1 per cent study at universities or colleges. Southern region tackles mounting power shortage The southern region must speed up delayed power projects to ensure sufficient energy supply and use cutting-edge technologies to reduce energy waste, experts have said. Southern Việt Nam, home to commercial hubs like HCM City and manufacturing clusters such as Đồng Nai and Bình Dương provinces, may face more power shortages next year. Many power projects which do not belong to Electricity of Việt Nam (EVN) are behind schedule, according to EVN. An official from the Ministry of Industry and Trade, who declined to be named, said that EVN would develop only 21 power projects with total power capacity of 14,610MW in the 2016-30 period. In addition, EVN will supply only 6.6 per cent of the region’s power demand in the 2021-2025 period and 13 per cent in the 2025-2030 period. The rest would be provided by other power businesses, he said. But most of the power projects developed by other businesses are behind schedule. For example, the companies have only completed 67.5 per cent of their assigned work in the 2011-15 period, which was one of the main causes of power shortages in the region in the period, according to EVN. Due to an annual power shortage of between 10 and 15 per cent of the region’s total demand, the region needs to receive power from the northern and central regions with a total capacity of 2,000MW every year. Experts said this resulted in a considerable loss of power in Việt Nam due to the long distance of power transfer. Because the southern region has no power reserve, EVN at times has to use diesel to generate power, which is double the cost of coal-fired thermal power. As a result, EVN lost hundreds of billions of đồng in the first half of the year. Dương Quang Thành, chairman of EVN, said EVN would expand capacity of a series of hydropower plants, including Hoà Bình, Ialy and Trị An. In addition, the Ô Môn thermal power plant in Cần Thơ, the Duyên Hải thermal power plant in Trà Vinh Province and Vĩnh Tân thermal power plant in Bình Thuận Province plan to increase power supply for the southern region. According to an official of EVN, EVN is building a thermal-power plant using liquefied natural gas (LNG), recommended by many experts as it can be imported easily. In addition, EVN and its partners plan to invest in solar power in areas such as the Central Highlands, south-central region and southern region. EVN will consider developing solar power projects on the surface of existing hydropower reservoirs and in hydropower plant areas or arid land to reduce site clearance costs. To reduce costs, the projects will use workers who are now operating hydropower plants. EVN said it would develop a solar power project with a capacity of 200MW in the central province of Ninh Thuận. Investment procedures for the plant have been completed. EVN will also give priority to solar power projects on islands such as Côn Đảo, Phú Quý and Lý Sơn. In addition, any delayed power project must be sped up; otherwise, the projects’ investment licences will be revoked. The Việt Nam Coal and Mineral Industries Group (TKV) has submitted a proposal to the government to build coal-fired thermal power plants in Trà Vinh Province and across the Mekong Delta. Recently, the government has given the go-ahead for more thermal plants in the Mekong Delta and gas-generated power plants in the central provinces of Quảng Nam and Quảng Ngãi. Deputy Prime Minister Trịnh Đình Dũng has urged the Ministry of Industry and Trade, EVN and TKV to join forces to minimise the risk of power shortages. Việt Nam’s electricity demand is expected to grow 13 per cent annually in the next four years due to its fast-expanding economy. American Center kicks off International Education Week in HCM City The US Consulate’s American Center in HCM City on Monday kicked off International Education Week, a joint initiative of the US Department of State and US Department of Education. The annual initiative, which ends on November 18, promotes understanding and support of international educational exchanges. Education Week, which highlights programmes that prepare Americans to live and work in a global environment, also showcases programmes that attract future leaders from abroad to study in the US. At a press meeting held on Monday in HCM City, US Consul General Mary Tarnowka said that Việt Nam was the sixth leading source of foreign students studying at US higher education institutions. The number of Vietnamese students increased from 18,722 students in 2015 to 21,403 in 2016, according to the annual Open Doors Report, published by the Institute of International Education with support from the US Department of State’s Bureau of Educational and Cultural Affairs. Of the 21,403 Vietnamese students studying in the US, 60 per cent are using personal and family funds. Việt Nam also maintained its position as the top source country of students in Southeast Asia. The strong increase in Vietnamese students shows continued conviction by students and parents that a US degree is a sound investment in their future careers, the US Consul General said. Thái Bình Province plans to grow 1,320 ha of coastal forest Thái Bình Province aims to plant more than 1,320 hectares of coastal forests in the next five years and protect almost 4,000ha of forest. The plan by the province’s authorities aims to recover lost forest areas, consolidate existing forest areas and grow new forests in coastal areas. In addition, the plantation will bring much-needed benefits to the local populace, like creating jobs, generating additional livelihoods, and ensure national security and bolster defence. VNĐ392 billion (US$18.7 million) is the estimated capital required to complete the plan, of which, VNĐ386 billion will be used to plant trees and build support components. Land illegally encroached upon by industrial zones and urban areas as well as land used by ineffective seafood farms located near sea dykes will be reclaimed and converted to forests, thus enclosing the forest belt. More technology will be used in forestry, including researching suitable plants for each type of terrain and researching new methods to control pests in mangroves, hence raising the trees’ survival rates. In the next five years, Thái Bình Province will prioritise the implementation of some key projects, according to the province’s authorities. The recovery and sustainable development of mangrove forest ecosystem project, with total investment of $2 million, was funded mostly by the South Korean government. The project to mitigate seawave impacts, stabilise seashores, and plant mangrove forests to protect sea dyke No 5 & No 6 will also be high on the agenda. According to the province’s Department of Agriculture and Rural Development, last year, the province finished taking inventory of its forestry resources and determined that province-wide, 9,160 hectares of land are reserved for forestry use - 3,700 hectares of which are woodlands, concentrated in two coastal districts Tiền Hải and Thái Thuỵ. Thái Bình Province merely has protection forests and no production forests so legal logging activities are non-existent. The province’s forest is part of the Red River Delta’s wetland biosphere and helps to mitigate the impact of climate change, resist saline intrusion, protect sea dykes, help conserve biodiversity, restore ecological balance and environmental protection. The province implemented numerous projects to plant new forest area and to consolidate and protect existing forests in 2011-2015. Five hundred ha of coastal protection forest and millions of ‘scattered trees’ were planted. HCM City uses waste to fuel power plant HCM City People’s Committee yesterday gave the green light to the development of a power plant that uses waste to produce electricity. The move aims to solve part of the city’s burden in waste treatment, as some 7,600 tonnes of solid waste is discharged in the city daily, but most of it is just dumped. The Japanese Hitachi Zosen Corporation (Hitz) and the HCM City Urban Environment Co. Ltd. (Citenco) are allowed to jointly build the waste-to-power plant at the Phước Hiệp Waste Treatment Zone in Củ Chi District. Under a pilot programme running from this year to the middle of next year, the plant is scheduled to handle 200kg daily, using organic waste collected from a waste classification programme in Bến Nghé Ward, District 1. People’s Committee vice chairman Lê Văn Khoa said the city would expand the waste-fuelled power plant programme if the pilot project proved effective. VNĐ14 billion trade centre now a cow shelter A VNĐ14 billion (US$636,000) - invested trade centre in the central Nghệ An Province has been unused for six years and become a free straw store for locals. Unused kiosks in Rộ Market trade centre, at Thanh Chương District, have become stores for agricultural equipment, straw and wood. The surrounding area of the trade centre turned into a cow shelter. Trần Văn Kỳ, chairman of Võ Liệt Commune People’s Committee said the Rô Market trade centre, inaugurated in 2010, aimed at creating jobs for locals and developing the local economy. However, the trade centre was unused as local people didn’t like trading in the closed trade centre, preferring the traditional flea market. Local authorities have urged the trade centre’s investor to change the architecture of the centre to include outdoor kiosks familiar to locals. Replacing a degraded old market, Nghệ An Province People’s Committee approved building the centre in 2007 on a 30,080sq.m area. The Northern Investment and Trade Joint-stock Company, located in Hà Nội, was the main builder. The trade centre included a big market temple, kiosks, rest room, restaurant, power station, and water supply station. Hai Phong active in legal knowledge dissemination Vietnamese and international legal regulations on seas and islands have been disseminated to residents in islands and border areas across the northern port city of Hai Phong during 2013-2016. It was reported at a conference held in Hai Phong on November 15 to review a related project, jointly carried out by the Hai Phong People’s Committee and the Border Guard High Command. Colonel Dao Quang Thuc, deputy director of the project, said communicators have creatively made serious contents of legal documents practical and memorable. The documents focus on a number of topics, including the resolution of the fourth Party Central Committee (10 th tenure) on Vietnam’s maritime strategy towards 2020, the Declaration on the Conduct of Parties in the East Sea (DOC), and the 1982 United Nations Convention on the Law of the Sea (UNCLOS). Another content that more closely related to local fishermen was the Prime Minister’s Instruction 689/CT-TTg issued in May 2010 on measures to reduce the number of arrested fishing boats and fishermen at sea. Communications campaigns on law compliance in Hai Phong between 2013 and 2016 have contributed to reducing the number of violations during the period by 364 cases compared to that of the 2009-2012 period. Hoang Thi Hong Luan, Vice Chairwoman of the People’s Committee in Cat Hai district said the population of her area is not stable due to the movement of migrant workers, thus communications activities must be specifically designed for smaller groups of people. According to Luan, to facilitate the information dissemination, Cat Hai has set up musical troupes in various localities and created a TV programme on legal education for every Saturday broadcast. The district concentrated on matters that attract public concern, such as maritime resources protection and land law. Vice Chairman of the Hai Phong People’s Committee Le Khac Nam stressed the need to continuously implement the project, requesting relevant agencies to closely work together and improve their communications human resources. Hai Phong is one of 28 coastal cities and provinces in Vietnam. It consists of 15 districts, 8 of which have sea border areas. VNA/VNS/VOV/SGT/SGGP/TT/TN/Dantri/VNE |
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Article 16
Oracle solutions for a smooth transition to cloudOracle recently released Oracle Identity Cloud Service (IDCS), a cloud-based identity management system that works by associating specific rights and restrictions with each user’s established identity.
Royce Teoh, Head of Digital Security at Oracle ASEAN & SAGE, talked to VIR’s Hong Anh about companies’ need to transition to cloud as well as how IDCS ensures security to make this transition as smooth as possible. Security issues are heating up all around the world, including Vietnam. Is it because digital security is becoming much more complicated than ever before? Today, hardly a day goes by without the sound of alarms after major breaches or security hacking. There are even websites dedicated to report on these breaches. Previously, IT was locked-down within the four walls of companies—which means companies bought and installed their own hardware and software, built their own applications, and all users sat within the offices, hermetically closed off from the outside world. However, we are living in the digital world now. Cloud became a common term everywhere, even in Vietnam. According to a recent survey, around 55 per cent of Vietnamese adult population own a smartphone which can access the Internet. Thus, companies’ IT systems might be exposed to the outside world. All the walls have disappeared. This is one of the many dynamics making companies more vulnerable to cyber attacks. That is why awareness of cyber security is becoming more important in the world. The companies need to think of protecting their data, their applications, as well as the identity of their customers and employees—the most precious information that is the ultimate aim of most hacker attacks. How about Vietnam? In your opinion, where does Vietnam stand compared to the world in terms of cloud adoption? We are seeing a great shift in cloud adoption within the Vietnamese business community. Companies want not only to compete in Vietnam but on the international market as well. Because if they let geographic boundaries constrict them, it will be very hard to compete effectively against the larger corporations coming in. Cloud gives them the necessary tools to do that. Cloud adoption is progressing in Vietnam at a moderate speed but within a year, it will greatly accelerate. On the other hand, security is definitely becoming a key concern as cloud services are spreading. Oracle wants to make sure the journey moving to cloud is as smooth as possible. Since the company might have a certain level of security, or policy for their current IT systems, they would like to have a consistent way of managing the cloud. That is what we are trying to provide. We believe businesses should have a similar way of managing both on-premise and cloud services, as well as a single view across all. That is Oracle security vision in a nutshell. Vietnamese customers are already aware of security issues, because they have been running their on-premise systems for a long time. They have also invested quite a lot in security. The only question left to wonder is whether the cloud is as mature and watertight as their previous practices. That is why Oracle is trying to convince them that in the cloud, it is possible to keep their policies and security requirements. Oracle has recently released IDCS. How will it help enhance security? With the advent of cloud, users can access data directly from multiple devices, for example mobiles, laptops or even wearables, without touching the network and going through network security. Controlling access within today’s network environments, which support many types of information systems both on-premises and in the cloud, is much more difficult, particularly in the face of today’s strict compliance regulations. Each new application and service often presents new user identities. Being able to tie activity to an identity can help companies start to cross-correlate across all these services and the devices used. IDCS works by associating specific rights and restrictions with each user’s established identity. A key part of IDCS is a unique technology known as Oracle Identity Bridge that connects new and old identity management systems. Oracle Identity Bridge preserves investments in on-premise applications, including system administrators’ time and effort spent on setting up identities, groups, privileges, and entitlements for thousands of users. There is no need to duplicate these efforts or recreate identities. Oracle Identity Cloud Service reuses these instructions and inherits existing entitlements with only a few clicks. Instead of taking weeks or months to build up another application and re-create all user identities, you can now carry these investments forward with ease. How is this approach different or unique compared to your competitors’ products? IDCS emphasises Oracle’s commitment to assist our customers on their journey to cloud. There is no denying the fact that there are various similar Identity-as-a-Service products on the market. However, lots of them started purely as cloud services. On the other hand, Oracle has a lot of experience with on-premise technology. We know how on-premise security works. We provide full and comprehensive identity solutions for on-premise systems. In fact, we are the number one service providers in this identity market. For the vast majority of organisations that rely on both cloud and on-premise applications, each with their own set of user identities and provisioning methods, IDCS helps to rationalise and synchronise identity management (IDM) activities. As new cloud applications come online, they are replicated and synchronised with the on-premise apps, and vice versa. IT pros have a “single pane of glass” interface, enabling single-pane management of the IDM infrastructure. Will IDCS be compatible with different services from other vendors? Of course it will. IDCS provides compliance to open standards, such as SCIM, REST, OAuth, and OpenID Connect, for easy application integrations. One of the most important factors for cloud services is the ability to integrate. We do not want IDCS to fit only with our cloud, because we know that only a handful of companies are using cloud services from a single vendor. Hence, with open and Standards-based Integration, IDCS can enable enterprises to rapidly integrate with cloud applications using standard protocols, as well as reduce development costs and prevent vendor lock-in by using proven industry standards. VIR |
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Article 15
VN to miss 2016 export target
HÀ NỘI - Việt Nam is unlikely to meet the 10 per cent export growth target for this year, said Minister of Industry and Trade, Trần Tuấn Anh. According to the General Department of Customs, total export value in the first ten months reached US$143.9 billion, a year-on-year increase of 7 per cent. Of this sum, the export value from foreign invested firms stood at $100.88 billion, a year-on-year surge of 10 per cent. During the first ten months of 2016, the agro, forestry and fishery sector had a breakthrough growth in export value at 7.9 per cent to $18.3 billion, while in first ten months of 2015, the sector saw a year-on-year reduction of 9.7 per cent, said the Ministry of Industry and Trade (MoIT). However, the 10-per cent target will not be met because unstable politics in key export markets have reduced demand and prices, the minister told Vietnam News Agency. The decline of China’s economy has also affected global trade, including Việt Nam’s, he said. The minister listed the major factors for the missed target: - Other countries with similar export structures as Việt Nam have promoted solutions to increase exports, resulting in tougher competition for Vietnamese goods. - Many importing countries have applied technical barriers and increased demands regarding the quality of imports, especially farming and fishery products, while disadvantages in weather have also affected the supply and quality of these products. - Việt Nam does not have strong supply industries for key export of industrial products, such as mobile phones, textiles, garments, leather and footwear, and must therefore depend on import of material for production. This makes export products susceptible to price fluctuations of raw materials on the world market. - Small and medium-size enterprises have a hard time getting credit though interest rates have been reduced. Tuấn Anh pledged that his ministry would focus on implementing effective trade promotion programmes for export products facing difficulties in price and market. It will build trademarks for some key export products such as textiles, seafood, fruits and rice to enhance its competitiveness. Tuấn Anh also promised to review and simplify import and export procedures and control counterfeit and poor-quality imports for producing export goods. - VNS |
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Article 14
Major paper plant halted due to environmental concerns The Ministry of Natural Resources and Environment has requested the USD1.2-billion Lee & Man Paper Plant in Hau Giang Province to halt operations due to public concerns over its environmental impact.  Lee & Man Paper Plant According to Hoang Van Thuc, Deputy Director of the ministry's General Department of Environment, following articles about environmental risks posed by the plant, Prime Minister Nguyen Xuan Phuc urged the ministry to work with environmental police and provincial authorities to conduct an investigation into the plant. Thuc also said that the plant was also requested to cease operations during the investigation. The plant located near the Hau River is the largest of its kind in Vietnam and is among the five biggest paper plants in the world. Lee & Man conducted an environmental impact assessment for the plant in 2008. According to the report, the plant would discharge around 28,500 tonnes of sodium hydroxide into the Hau River every year. It would discharge 200-300 cubic metres in waste water compared to just 10-20 tonnes seen in more modern production lines. However, in a report to the government, the Vietnam Association of Seafood Exporters and Producers (VASEP), said that the large volume of toxins could disrupt the Hau River’s ecosystem by destroying seafood resources and seriously affect aquaculture in the Mekong Delta which accounts for 70% for the country’s fisheries and aquaculture production. VASEP general secretary Truong Dinh Hoe said that there should be a new environmental impact assessment based on the changing situation in the Mekong Delta due to the effect of global warming. The Ministry of Natural Resources and Environment has asked Lee & Man to review the environmental assessment report for the paper project to submit to the ministry for consideration and install automatic wastewater monitoring systems. Besides the paper plant, Lee & Man has also invested in several other projects in Chau Thanh District, Hau Giang Province, including a pulp factory and a thermal power plant, an international seaport and a wastewater treatment facility. By The Kha, dtinews.vn |
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Article 13
BUSINESS IN BRIEF 22/11 Satra to expand retail business to Can Tho  Saigon Trading Corporation, or Satra, will expand its retail store system to Can Tho City, which is considered the largest in the Mekong Delta. Speaking at a conference last Friday held in Can Tho, Nguyen Phuc Khoa, deputy general director of Satra, said his corporation will invest heavily in retail business in the city. Satra will open convenience food stores named Satrafoods, and develop the Centre Mall commercial centers and Satramart supermarkets citywide, mostly in Ninh Kieu District. As planned, Satra will open an office to oversee store chain development later this year, and Satrafoods convenience stores will be launched into operation in Ninh Kieu District early next year, Khoa said at the conference organized to promote a linkage between the production and distribution of farm produce. Khoa told some 100 suppliers of agro-forestry-aquatic products in the Mekong Delta that such products have to meet prevailing food safety and hygiene standards before appearing on the supermarket shelves of Satrafood. Nguyen Minh Toai, director of Can Tho City’s Department of Industry and Trade, said the city has 16 supermarkets and commercial centers, and 107 traditional markets and convenience stores. Some big brands, including LotteMart, Vincom, VinMart, CoopMart, Big C, and Metro are already present in the city. Vietnam’s aluminum faces Australia’s tariffs of 34.2% Australia may slap anti-dumping tariffs of up to 34.2% on aluminum extrusions imports from Vietnam following a preliminary conclusion announced last week by Australia’s Anti-Dumping Commission (ADC). The Vietnam Competition Authority (VCA) at the Ministry of Industry and Trade said ADC last month announced an initial conclusion on the anti-dumping investigation into aluminum extrusions imported from Malaysia and Vietnam, claiming their prices were below fair market levels. The initial conclusion showed Vietnamese enterprises had dumping margins from 8.5% to 34.2%, and Malaysia from 4.3% to 14.5%. Australian authorities have been investigating aluminum extrusions dumping and subsidies by Vietnam and Malaysia. But there has yet to be a preliminary conclusion on anti-subsidy. Pending a final conclusion, which is expected to come out in January 2017, ADC last month imposed temporary anti-dumping duties to protect the local industry from injury. The anti-dumping and anti-subsidy investigation began in mid-August after Australian aluminum extrusion manufacturer Capral Limited filed a case against aluminum extrusion imports in late June, with Vietnamese producers accused of dumping aluminum extrusions on the Australian market with a margin of 10.19%. The company also claimed that producers in Vietnam were receiving subsidies from the Government, including preferential import tariffs for fixed assets, low corporate income tax and tax incentives for non-agricultural land. Aluminum extrusion products from Vietnam and Malaysia are currently subject to a 5% tax rate in Australia. SHTP in deal with foreign partners The Saigon Hi-Tech Park (SHTP) in HCMC has signed a memorandum of understanding with South Korea’s Daegu University and Hebronstar Strategy Consultants Company to cooperate in research and development of high-tech and startups. The signing took place during a conference on applications of technology and nano material in HCMC last week, which was attended by nearly 30 speakers from Vietnam and foreign countries with advanced nanotechnology including the U.S., Japan, Korea, and Singapore. SHTP and Daegu University will implement programs on technology transfer and commercialization, and share information about the success stories of Korean firms. In the MOU clinched with Hebronstar, the two sides will cooperate in providing human resources and advice for investors, and supporting startups in both Vietnam and Korea. HCM City, European businesses enhance cooperation Chairman of the Ho Chi Minh City People's Committee Nguyen Thanh Phong hosted Michael Behrens, new Chairman of the European Chamber of Commerce (Eurocham) on November 21 to discuss orientations for cooperation in construction and sustainable development. Phong thanked Eurocham for its role as a bridge linking the city’s leaders and European businesses operating in the southern economic hub. Eurocham helped businesses understand the city’s new policies and it, together with other organisations of foreign investors in the city, built a close link to help the city’s leaders to get opinions from firms, facilitating foreign investors’ operations in HCM City, he said. He suggested Eurocham share experience in building green works of European urban centres, introduce energy-saving equipment using high tech and solutions to waste treatment. Behrens, for his part, said European businesses are willing to share their experiences and wish to cooperate with the city during its process of building and implementing the smart city project. Eurocham is ready to work together with HCM City in training high-quality human resources and receiving students to practice and work at European research centres and factories in Vietnam, he added. He affirmed that European firms stay ready to join hands in dealing with issues such as the use of renewable energy, water resources management, liquid and solid waste treatment, and urban transport system construction. Can Tho to boost win-win cooperation with Laos The Mekong Delta city of Can Tho will boost mutually-beneficial cooperation with Laos in mechanical engineering, handicraft, apparel and services in the near future, said Vice Chairman of the municipal People’s Committee Truong Quang Hoai Nam. According to Nam, Laos has formed partnerships with the Lao provinces of Savannakhet and Champasak in the fields of agriculture, industry, education-training, commerce, tourism and transport. Ten Lao students are pursuing graduate and post-graduate studies at Can Tho University under a local scholarship programme. In the eight months of this year, Can Tho earned 1.3 million USD from export ò pharmaceuticals, soap, fertiliser, chemicals and vet medicine to Laos. Through the municipal chapter of the Vietnam Union of Friendship Organisations, Can Tho regularly holds cultural exchanges on Lao festive occasions and welcomes Lao high-ranking officials to the city. Firms in Can Tho and the Mekong Delta in general are working hard to expand Lao markets. Asian insolvency forum focuses on restoring stability The 10th Forum for Asian Insolvency Reform (FAIR 10), themed “Restoring stability”, took place in Hanoi on November 21. Co-organised by the Supreme People's Court of Vietnam and the World Bank, the forum attracted more than 100 delegates from international organisations and 18 countries and territories. Speaking at the event, Nguyen Hoa Binh, Chief Judge of the Supreme People’s Court, said over the past three decades, Vietnam has issued three laws on bankruptcy or a new law on bankruptcy in every 10 years, proving that the law has been updated frequently to meet the economy’s development requirements. The process aims to ensure that the law on bankruptcy will create a legal corridor for promoting economic development and social stability, he said. Binh stressed that insolvency regulations in Vietnamese law are to effectively protect legitimate rights and interests of creditors, debtors and labourers as well as ensure social stability. At the same time, the law on bankruptcy is an effective tool for restructuring the economy when it is seen as a mechanism to eliminate weak and loss-making enterprises, creating a healthy business environment for investors and helping maintain the existence of profitable enterprises. With those goals, Vietnam’s existing law on bankruptcy clarifies conditions required to open bankruptcy procedures, simplify bankruptcy procedures, promote mechanisms and create conditions for restructuring and restoring businesses, Binh stated. The law also increases rights of creditors and introduces the concept of the asset manager and liquidator to assist the court in restructuring and handling bankruptcy. Reforms in the mechanism have brought in positive changes for insolvency settlement in Vietnam, which have been recognised by the international community, he affirmed. Bank service provider Timo debuts in Ha Noi Banking service provider Timo had its official opening in Ha Noi on Saturday, with the launch of its member location “Timo Hangout” on Ngo Quyen Street. "Today, the average use of mobile phones by people takes up almost one-third of their time during the day. The debut of the Timo app helps members easily perform all banking using mobile devices,” said Don Lam, Timo founder, who was also a co-founder of VinaCapital. “Equipped with additional ATM and credit cards, and with the advantages of free transfers and foreign exchanges, I believe Timo will effectively support the majority of members in modern life," he said. Timo is a pioneer in the field of banking activities using technology, with no physical bank branches and a single location to welcome members and issue their cards. Timo crossed the milestone of more than 20,000 members in just six months after its debut in HCM City. The company noted that this is the right time for Timo to expand to Ha Noi to meet the needs of customers in the capital. Also at the event to mark its debut, Timo indicated it would be providing an optimised platform—from login steps to processing banking transactions—as it asserts its leadership in the online banking field in Viet Nam. Woolmark to show wool innovations in HCM City The Woolmark Company on November 24 will present the latest in Merino wool developments to buyers and designers in the performance wear segment in Ho Chi Minh City. Merino wool has positioned itself as a leading natural fibre in the sportswear industry thanks to its unique natural benefits such as breathability, temperature control and elasticity, explained Rajesh Bahl, manager of emerging markets at Woolmark. MerinoPerform™ is a trademarked range of Merino sports fabrics that provide comfort in performance apparel. The Merino fibre’s natural qualities such as: suitability for multi-climatic environments; natural breathability, elasticity, odour resistance, and moisture control make it perfect for the active user. MerinoPerform™ fabrics are manufactured by a carefully selected global group of manufacturers supplying the performance apparel market and meet with the strictest of quality control requirements. At the exhibition, Woolmark will present its latest commercial developments in Merino wool fabrics adapted for sports and outdoor apparel in – next-to-skin layers; mid and outer layers; soft and hard shell garments with Merino linings and laminates and seamless garments. Included in the exhibition, said Mr Bahl, will be a complete showing of the sportswear products line including such high demand items as sweaters, scarves, hats, socks, woven fabrics and knitted garments. HCMC banks lend VND800 trillion to five priority sectors Banks in HCMC in the year to date have lent over VND800 trillion (US$35.8 billion) to five priority sectors of agriculture and rural development, production of export goods, small- and medium-sized enterprises (SMEs), supporting industries, and high-tech enterprises. A report on the banking sector’s performance which the HCMC government released on November 15 said the sum made up 58% of total outstanding loans in the period. Banking operations have been stable with borrowing and lending increasing, and liquidity remaining ample. Many more banking services have been provided to customers and lenders’ profit has edged up. Besides lending to the five priority sectors, banks partook in a number of programs to give preferential loans to clients, including homebuyers. Notably, nearly VND215 trillion worth of bank loans were pledged under the enterprise-bank connectivity program. The State Bank of Vietnam’s HCMC branch and the Banking Supervision and Inspection Agency in HCMC will closely monitor the city’s currency market and banking system in the final two months of the year. Credit institutions’ operations will be closely monitored by authorities to help banks to improve quality, restructure assets and capital sources, avoid risks, and ensure stable liquidity. The city will deal with ailing banks having bad debt surpassing 3% of total outstanding loans. HCMC posts GDP growth of 8.05% Gross domestic product (GDP) of HCMC is expected to reach VND1,037 trillion this year, up 8.05% over last year, according to a review meeting on the city’s socio-economic performance in 2016 and targets for 2017. Total retail sales of goods and services are forecast to climb 8.1% year-on-year, indicating the city’s market has ridden on stronger consumer demand. The city’s total export revenues have amounted to around US$30.64 billion, a year-on-year rise of nearly 6%, while its import bill has hit US$37.7 billion with major import items including computer components, electronic parts, pharmaceuticals, plastic material, and steel. Banks in the city have raised VND1,833 trillion, up 17% year- on-year. Of the sum, individual depositors account for 53%. Total outstanding loans have hit almost VND1,458 trillion, an 18% rise against last year, with most of them funneled into production and trading activities. The city government has set three major economic targets for next year: GDP growth of 8-8.5%, the ratio of total factor productivity (TFP) to GDP of 35% or higher, and total investment capital making up 30% of GDP. The city said its total budget revenues this year have amounted to VND303,816 billion, up 10.8% year-on-year, while its budget spending has totaled VND59,125 billion, down 1.64% year-on-year. For 2017, the central Government has assigned the city to collect VND347,882 billion for the State budget, and use VND60,369 billion of total shared revenue. Technology, manpower pivotal for Mekong Delta’s growth Technology and human resources are pivotal for the Mekong Delta to make the most of its natural resources, said Vo Hung Dung, director of the Vietnam Chamber of Commerce and Industry (VCCI) on the sidelines of a conference in Can Tho City. Tran Huu Hiep of the Southwestern Steering Committee told the conference on the delta’s development last Saturday that the region is facing two major challenges: globalization and climate change. Poor infrastructure, the need for advanced technology in agriculture, limited human resources and inappropriate policy also weigh on the delta, Hiep noted, but added that besides weaknesses, the region has growth potential. He said apart from general policy and orientations set by the State, each locality in the delta should review their advantages to map out their own policy to attract investment. Speaking to the Daily, Dung of VCCI said coastal provinces have advantages in shrimp farming while localities along the Tien and Hau rivers are strong in catfish farming. Other localities have advantages in different sectors. He said Can Tho should strive to become a nucleus of development to support other provinces in terms of technology and logistics. Dung added Can Tho should concentrate its efforts on logistics, information technology and market research. Universities should adopt an intensive training method to provide skilled labor for businesses. While schools in Ca Mau and Kien Giang provinces should focus on the seafood and tourism sectors, Dung said, those in Bac Lieu and Soc Trang provinces can shift their training priority to wind power and brackish water shrimp farming. Dung said the number of students may drop but students will be trained well and have good knowledge. Vietnam, EU agree in principle on legal wood trade Vietnam and the European Union (EU) have agreed in principle on a Voluntary Partnership Agreement on Forest Law Enforcement, Governance and Trade (VPA/FLEGT) after nearly six years of negotiations. Speaking at a press conference in Hanoi last Friday, Minister of Agriculture and Rural Development Nguyen Xuan Cuong said timber and wooden products of Vietnam have been exported to more than 90 countries around the world, with total export turnover reaching more than US$7 billion in 2015. The agreement has important implications for the timber-processing sector and Vietnam’s agricultural sector as a whole. “After nearly six years of negotiations, the substance of the VPA has been agreed while some technical annexes remain to be finalized by negotiators in the next few months,” according to a joint statement released at the press conference. Cuong of the agriculture ministry said the vital content of the agreement is to ensure legal sources of wood and to meet the EU’s traceability requirements for all timber and wooden products. The FLEGT license to be issued to each shipment would allow Vietnamese firms to export their products to the union without requiring due diligence provisions of the EU Timber Regulations. At the same time, the agreement would promote sustainable development of Vietnam’s timber processing sector while expanding its reach into foreign markets, especially the EU. To implement the agreement, Vietnam needs to develop a timber legality assurance system and other reforms, including legislation to ensure the legality of timber imports, and effective mechanisms to detect violations and ensure law enforcement, according to Karmenu Vella, the European Commissioner for the Environment, Maritime Affairs and Fisheries at the press conference. He added Vietnam is the world’s major timber product exporter. Not only that, it also imports timber from many various countries. Therefore, it is necessary to ensure the legal origin of timber from the country. The EU said there would have much work to do after the negotiations. Both sides would have to modify part of their legal systems to implement the agreement. Huế revokes licence of delayed resort project Authorities in Thừa Thiên-Huế Province have decided to revoke the investment licence given to build a resort and upmarket residential areas in the region, after the project has been delayed. The province’s People’s Committee last week decided to withdraw the licence given to Vinconstec Huế. The project cost was estimated at VNĐ600 billion (US$27 million). In 2007, the committee handed over 70ha of land near a local lagoon to the investor, who promised to complete the project in 10 years. The proposal included the construction of a five-star hotel, a 26ha resort, 400 luxurious apartments, 150 ocean-view villas and 730 street-view houses. Work started in 2008 with some concrete frames for houses being built at the site in Phú Vang District’s Phú Thuận Commune, but construction came to a halt in 2012. The committee revoked the licence after they were approached by irate residents who had given land for the project and were upset by the delay. Local firms said the investor owes them money for the purchase of construction materials and for workers’ payment. There is a lot of public concern that the committee offered the project to an unqualified investor like Vinconstec. ACB to pay 10% dividends in shares The Asia Commercial Bank (ACB) plans to issue more than 89.6 million shares as payments for 2015 dividends. According to the bank’s announcement, its shareholders will receive 2015 dividends in shares of 10 per cent. Deadline for registration is December 2 this year. Previously, in October, ACB received approval from the State Bank of Viet Nam to increase charter capital from VND9.38 trillion (US$416 million) to VND10.27 trillion, in a plan ratified at the bank’s shareholders meeting. ACB posted a pre-tax profit of VND415 billion in Q3, up 15.5 per cent against the same period last year. The bank’s total pre-tax profit in the first three quarters of this year rose 14 per cent to VND1.24 trillion. The bank’s non-performing loans stood at 1.13 per cent at the end of September, inching down against 1.31 per cent reported early this year. Cashew industry sets standards The Viet Nam Cashew Association (Vinacas) has set standards for cashew processing to nudge the industry towards cleaner production and ensure consistent quality. The standards, announced at the eighth Viet Nam Golden Cashew Rendezvous in Da Nang last week, cover input materials, technical requirements and equipment involved in cutting the nuts, sizing them at different stages, drying, peeling testa, grading cashew kernel, fumigation, packaging, and export. For instance, the specifications for raw cashew nuts for processing require the raw nuts to be harvested from cashew trees or transplants without using genetically modified technology and have maximum moisture content of 10 per cent, no mould, pests or bacterial contamination, a natural colour and so on. There are also comprehensive requirements for cashew processing plants, processing tools and others. Pham Van Cong, Vinacas deputy chairman, said firms have applied measures to make products meeting food safety standards for long. “[But] by promulgation of the standards, the association expects the more than 300 processing factories in the cashew industry to apply them in their production so that the industry can produce products of the same quality.” Nguyen Duc Thanh, Vinacas chairman, said the procedures would help the cashew industry meet consumers’ increasing demand for hygiene and food safety standards, non-genetic modification and origin traceability. Joseph Lang, managing director of Kenkko, one of Europe’s largest buyers, sellers and distributors of nuts and fried fruits, said a recent study on food trends in Europe by Deloittes, a major international consultancy group, identified two types of consumer groups – traditional (49 per cent) and evolving (51 per cent). While the first group bases its buying on traditional factors like price, taste and convenience, the second group is more concerned about health and sustainability, he said. As much as 95 per cent of the second group is interested in natural foods with limited processing, preservatives or artificial ingredients. Thanh said “Luckily, most cashew farmers in Viet Nam do not use banned substances. Products with Viet Nam origin all meet hygiene and food safety standards.” Nguyen Anh Hoang, director of the Binh Phuoc Province Department of Industry and Trade, said with more than 134,000ha under cashew, Binh Phuoc accounts for 43 per cent of the country’s total. The province is also home to hundreds of cashew businesses, he said. “We are establishing a set of regional criteria for sustainable cashew development, forming large cashew farms with intensive cultivation, transferring advanced technologies, focusing on planting high-quality and high-yield cashew saplings and applying advanced processing technologies to reduce production costs and improve quality and enhance competiveness.” Using automatic machines instead of manual labour makes it easy to control product quality in terms of colour, size and hygiene in line with international standards, he said. A business group called Group of Viet Nam Leading Cleaner Cashew Processors and Exporters was formed at the event. Viet Nam accounts for half of the world’s cashew exports and has been the leading exporter for the last 10 years. Its cashew products are exported to 80 countries and territories, with the US, Europe and China being the main markets. Entrepreneur group launches VN chapter A chapter of Entrepreneurs’ Organisation, a global community that enables entrepreneurs to learn and grow, was launched in HCM City late last week. HCM City is the financial hub of the fast-growing Vietnamese economy. Moreover, the Vietnamese Government set a target of 6.7 per cent GDP growth in 2016 and 6.8 per cent in 2017. EO Viet Nam will serve to network a formidable array of entrepreneurs in the sectors of food & beverage, education, finance, corporate investment law, IT consultancy and banking. The chapter is charting a strategic growth plan for the next five years with the aim of bringing more entrepreneurs into the community. Since 1987, the global network has had more than 12,000 business owners with 160 chapters in 50 countries. At the launching ceremony, Harley Trung, co-founder of CoderSchool in HCM City, said that the city is a young, dynamic and vibrant city with many enterpreneurs. EO will serve as a platform and a bridge to connect them with each other, he said. Viet Capital Bank and FPT IS ink deal Viet Capital Bank and FPT Information System (FPT IS) have signed a contract to modernise the bank’s transaction system with customers, targeting to better serve its customers and create a foundation to deploy Omni-channel banking services. This system is included in the bank’s IT platform development roadmap towards digital banking. The system will help the bank improve service quality and significantly reduce time for processing transactions of customers at its branches and transaction offices. Meanwhile, a multi-channel transaction platform (Omni-channel) will be built to bring to customers the most convenient service and the Omni-channel would help the bank to deploy new transaction channels, such as VTM (Virtual Telling Machine), or new products and services on its existing transaction channels in a faster and more synchronised manner. In its IT development roadmap in the 2016-2020 period, the bank expects to complete its Transaction System with Customers and the Omni-channel in 2017, which will enable it to develop other transaction channels, such as VTM, and upgrade its existing transaction systems of Mobile Banking and Internet Banking. FPT IS, a member of FPT Corporation, is providing banking and financial solutions to more than 300 local and overseas banks and financial organisations. Development of bicycles as transport in VN discussed Viet Nam has witnessed a spectacular move from bicycles to motorcycles. Now it is the time to seek solutions by encouraging the public to move from motorcycles back to riding bicycles again, but it will not be an easy task, according to experts. They made their comments during a seminar, entitled “The role of bicycle transportation in the city – International experiment exchange and how to apply it in Viet Nam”, which took place on November 17 in Ha Noi as part of the ongoing international exhibition, Vietnam Cycle 2016. Viet Nam seeks vehicles that save energy, and the event showed the government’s interest in again using bicycles in the development of transportation, said Vice Chairman of Vietnam Cars, Motorbikes and Bicycles Association Nguyen Huu Son. Son noted that Viet Nam was one of the countries using very large numbers of motorcycles, thus leading to traffic congestion and air pollution. These concerns are receiving great attention by agencies and the public. In recent years, the Government has launched numerous policies to restrict the use of personal vehicles, such as cars and motorcycles. Also, the Government encourages people to use bicycles to reduce pollution from exhaust. In big cities such as Ha Noi and HCM City, bicycling is attracting people of all ages, pushing up sales of bicycles and electronic bicycles, he said, adding that the market is promising for both domestic and foreign companies. The return of Peugeot, the French bicycle giant, to Viet Nam after 20 years was clear evidence of this trend. At the seminar, Lionel Bayard, Export and Marketing Manager of France’s Peugeot Cycles, shared the experience of the French government in encouraging citizens to ride bicycles. For instance, France reduced taxes for those who cycle to work, offered free bicycles or assistance on bicycle routes, and required new buildings to provide parking for bicycles, he said. Lionel Bayard added that in 2015 France saw record sales of bicycles and accessories, valued at 1.7 billion euro. Also, the Government installed 55,000 bicycle stations in 42 cities. Of note, a pilot project on public bicycles in Ha Noi, called BK-BIKE, was introduced at the event. Phạm Tuan Hiep, Director of BK-BIKE project, said the project will pilot the creation of bicycle renting stations at Hanoi University of Science and Technology in 2016. Further, it is expected to test replacing motorbikes in the next two years with 1,500 bicycles and 50 public transport stations. The project will be expanded to Ha Noi’s central districts, with 400 stations and 12,000 bicycles, in 2019 and 2020. Hiep also proposed developing a public-private-partnership business model between State and private businesses. Nguyen Huy Tien, Deputy Head of Environment Department under the Ministry of Transport, said development of bicycle renting stations was an interesting solution and should be carried out soon. However, Tien suggested launching policies on upgrading infrastructure for bicycles and seeking investors. Vu Ngoc Tien, an amateur cyclist, said a revival of bicycling is needed to reduce environmental pollution, traffic jams, and because of the public’s increasing health consciousness. However, programmes and campaigns on using bicycles among the public should be carried out, with government institutes as pioneers. Nguyen Trai, also an amateur cyclist who spent 10 years cycling, said before beginning campaigns for using bicycles, the State needed to improve its infrastructure. Particularly, the current import duty on ordinary bicycles is too high, at 45 per cent, while the import duty levied on sports bikes is only 5 per cent. Actually, demand for sport bikes remain less and tax rates should be changed to encourage more people to use bicycles in Viet Nam. Bayer thinks creatively on rice solutions With its sponsorship of the 4th annual Rice Symposium, Bayer Vietnam has continued its efforts to solve the challenges facing the Vietnamese agricultural sector through promoting dialogue and innovative solutions. bayer thinks creatively on rice solutions hinh 0 The company has been the key sponsor of the annual Rice Symposium, organised by the Vietnam Economic Times. Themed “How to Enhance Vietnamese Rice Quality and Brand Positioning to Meet Market Needs”, the 4th Rice Symposium gathered more than 150 delegates representing key stakeholders across public and private sectors nationwide, including government bodies such as the Party Central Committee Commission for Economics, the Ministry of Agriculture and Rural Development, the Vietnam Food Association, agricultural and scientific institutions, and rice value chain partners. The symposium was organised to address the significant challenges that farmers of rice and other crops are facing, such as severe drought and high salinity intrusion due to climate change. And Vietnamese firms have to sell its wares in a tighter export market. “Bayer is committed to tackling farming challenges with high value seeds, innovative crop protection solutions and services for modern and sustainable agriculture. We at Bayer believe that the challenges will be best addressed and solved in a close co-operation among all stakeholders,” said Kohei Sakata, general director of Bayer Vietnam, one of the keynote speakers at the symposium. “This is why Bayer supports the idea of this Rice Symposium to further engage in dialogue with all key stakeholders in the sector – not only to acknowledge the issues of agriculture in Vietnam, but more importantly introduce concrete innovative solutions to help Vietnamese farmers overcome these challenges and thereby intensify agricultural production in a sustainable way,” he added. In 2016, Vietnam’s rice industry has faced many challenges. A severe drought earlier in the year resulted in high salinity levels in the Mekong Delta, raising concerns over the delta’s future. Rice production fell by 1.1 million tonnes according to the United Nations’ Food and Agriculture Organization (FAO). In addition, Vietnam’s rice export is estimated to drop to 5.65 million tonnes in 2016, down 14 per cent against the previous year – and 800,000 tonnes lower than initially forecast. Since 2014, Bayer Vietnam has developed and implemented its four-point action plan as a holistic approach to deal with farming challenges in Vietnam. The plan includes leading innovation to address the key challenges of rice farming; enabling farmers by providing them with tools, technology, and training; raising agricultural productivity in an environmentally-compatible and sustainable manner; and expanding partnerships across the rice value chain, and between the public and private sectors. At the Rice Symposium, Bayer Vietnam showed newly developed solutions for Vietnamese farmers to overcome challenges from climate change and to improve rice quality and yields. The company’s effort to strengthen the public-private partnership across the rice value chain was also highlighted. Bayer Vietnam, in partnership with the Cuu Long Rice Research Institute, introduced an innovative solution which helps farmers to manage weeds more effectively – called the Dry Direct Seeding Technology. This technology is considered an alternative crop establishment method for rice, where seeds are sown directly into dry soil without raising them in a nursery. After being sown, the dry seeds can remain viable in dry soil from 15 to 20 days. They then will germinate with the first significant rain. Bayer Vietnam has also launched two new rice varieties to meet the rising demand for diversified rice breeds and pressure from climate change. “We are proud to offer BTE1 and TEJ Vang hybrid rices to Vietnamese farmers. Due to heterosis, these hybrid rices have significant advantages over in-bred rice. They offer up to 20 per cent higher yields, higher tolerance towards biotic stresses, and stronger root systems for better water and nitrogen-use efficiency,” said Sakata. Nielsen: Loyalty programs attract faithful Vietnamese followers Loyalty programs are crucial to attract customers, more than seven in ten Vietnamese (74 per cent) somewhat or strongly agree, and all other factors being equal they will buy from a retailer with a loyalty program over one without, the latest survey conducted by market researchers Nielsen reveals. The Nielsen Global Retail Loyalty-Sentiment Survey polled more than 30,000 online respondents in 63 countries to understand what drives consumers to participate in retail loyalty programs. More than six in ten of Vietnamese loyalty program participants (61 per cent) agree that loyalty programs make them more likely to continue doing business with the company and more than two-thirds (73 per cent) agree that they shop more frequently and spend more at retailers with loyalty programs. In Asia-Pacific, the survey found, Vietnam and New Zealand have the highest sell-report rate of loyalty-program participants, with 84 per cent saying they belong to one or more loyalty programs. Mobile shopping apps are also quite attractive in Vietnam (66 per cent) and particularly attractive in India (80 per cent), Thailand (78 per cent) and China (74 per cent), the report showed. “It’s true that many shoppers appear to love loyalty programs,” said Mr. Roberto Butragueño, Associate Director, Retail Services at Nielsen Vietnam. “Effective loyalty programs are intended to ultimately increase a retailer’s share of the consumer’s wallet.” “But there is often a large gap between the number of programs in which shoppers are enrolled and the number in which they actively participate. Loyalty programs cannot be designed in a one-size-fits-all manner.” According to the survey, financial incentives are the primary reason for participating in loyalty programs. Nearly half of Asia-Pacific respondents who participate in loyalty programs (49 per cent) somewhat or strongly agree that they join these programs for product discounts. More than four in ten Asia-Pacific respondents say they join because of rebates or cash back offers. The rate is even higher in Vietnam, at around five in ten. Fewer Vietnamese participants say free shipping, frequent flyer points, and higher priority services are among the most-valued benefits, with 37 per cent, 26 per cent and 21 per cent, respectively. There are big differences in loyalty program preferences and habits across consumer groups. These differences include how consumers want to engage with their loyalty program, what tangible benefits they are seeking from loyalty programs, and even how much they care about loyalty programs. Retailers, therefore “need to determine who they want to bring into the store or onto the website more, and design a loyalty program for them,” Mr. Butragueño said. SBV approves changes at VietCapital Bank VietCapital Bank has been given approval by the State Bank of Vietnam (SBV) to make certain changes to its operations. The bank can alter its charter capital and increase credit growth to 30 per cent, according to SBV's Dispatch No. 8527 dated November 7. The SBV Governor also directed VietCapital Bank to introduce credit solutions that improve its business, ensure security within the banking sector, and stabilize currency markets. VietCapital Bank must only grant credit according to SBV provisions, control its credit growth in line with its ability to raise capital, follow regulations on foreign exchange rates and risk management, and restrict its bad debts. It must also focus its services on the support, high technology, agriculture, and export industries as well as small and medium-sized enterprises (SMEs) and carefully manage credit for real estate investment and business. In the first nine months of this year VietCapital Bank improved its retail banking operations. Its number of individual and business customers has increased 35 per cent since the beginning of the year. Mobilized capital and lending also increased significantly, by about 50 per cent compared to December 2015. Customer deposits totaled VND600 billion ($26.64 billion). Outstanding loans grew at a higher rate than the average, of 22 per cent compared to the end of last year. VietCapital Bank was established in 1992 and was formerly known as the Gia Dinh Commercial Joint Stock Bank. In its 24 years it has confirmed its position in the banking and finance market and has adopted a development strategy for the 2016-2020 period. Under this strategy its Board of Directors has suggested opening 12 to 15 new branches in 2017 and conducting key projects to boost service quality and increase its customer base. Total assets at the end of 2015 stood at VND29 trillion ($1.3 billion), while it had 38 branches as at the end of 2014. Its headquarters are in District 1, Ho Chi Minh City. Hanoi to build commercial service areas and hotels in West Lake Hanoi is planning to build a commercial service area and hotels in the West Lake urban area. The Hanoi People’s Committee has issued a decision adjusting the planning for the urban area, in Thuy Khue ward, Tay Ho district. Part of the area will be changed from land use for authorities to a mixture of commercial services and hotels. The maximum density of construction is 80 per cent, at heights from five to seven floors. The total land area affected is 967.1 sq m, of which 17.4 sq m is for road planning and 949.7 sq meters for construction. The plan aims to create additional land to meet demand for commercial services in Tay Ho district and demand for sightseeing and tourism around West Lake. The People’s Committee assigned the Hanoi Department of Planning and Architecture and the Tay Ho District People’s Committee will coordinate with the Department and the Hanoi Construction Materials Joint Stock Company to officially announce plans for the West Lake urban area and surroundings. In the first nine months of this year Hanoi welcomed an estimated 2.9 million visitors, up 25 per cent against the same period of 2015, according to the Hanoi Department of Culture, Sports and Tourism. Of these, 2.1 million were international visitors, up 26 per cent year-on-year, and 13.5 million were Vietnamese visitors, up 6 per cent. The Hanoi People’s Committee also decided in October to restart the riverside megacity project along the Red River, called Song Hong City, after 22 years on the drawing board. Deputy Chairman of the People’s Committee Nguyen The Hung sent Dispatch No. 9378 asking departments and the Tay Ho and Ba Dinh District People’s Committees to conduct research and propose a plan for the project then report back. The details have not been finalized, Mr. Ta Nam Chien, Manager of the General Planning Department under the Hanoi Department of Planning and Architecture, confirmed with VET. The Department of Planning and Investment had previously proposed the city’s People’s Committee announce the planning criteria to investors. If subsequent planning was inconsistent with the city’s master plan, the Department would introduce other locations to the investor. Song Hong City was originally proposed by a Singaporean investor in 1994, establishing the Tran Song Hong Joint Venture to implement the project, with charter capital of VND61 billion ($2.7 million). Total investment capital at that time was put at VND240 billion ($10.8 million). Twenty five MLM businesses stops operation Twenty five multi-level marketing (MLM) companies have stopped operation since June 2015, including 14 license revoked firms and 11 suspended, reported the Ministry of Industry and Trade. According to the ministry, it has inspected and proposed to investigate 65 violation cases by MLM companies and penalized 64 violators with the total fine of VND11 billion (US$489 billion). In the first half this year, this sector's trading revenue approximated VND4 trillion ($178 million). Of these, foreign companies yielded VND1.8 trillion accounting for 45 percent of the market share and local companies earned VND2.2 trillion holding 55 percent of the market share. MLM companies paid nearly VND712 billion ($32 million) in percentage and other economic benefits for their sales forces and VND452 billion (US$20 million) in taxes. Notably, the number of pyramid sellers reduced 57 percent over the same period last year. Previously, 1.16 million people registered to attend in the activity. Most of MLM companies sell functional food making up 51.2 percent of the total, cosmetics firms account for 31.6 percent and household appliances 12 percent. Network marketing has showed many negative disguises and some cases have faced criminal charge such as Golden Rock, Colony Invest, Diamond Holiday, MB27 and Tam mat troi (solar center)… Eighteen MLM businesses without licenses have been fined VND650 million ($29,000). The ministry said that it would intensify inspection and supervision over referral marketing nationwide next year, propose authorized agencies to supplement some violations in this activity to the Penal Code. Foreign investment continuously increases in HCMC stock exchange The trading volume by foreign investors in HCMC Stock Exchange (Hose) has highly surged for recent months, up 50 percent compared to the same period last year. Their purchase volume accounted for 13 percent of the entire market in the second quarter, hiking to 15 percent to reach VND25 trillion (US$1.11 billion) in the next quarter. Explaining the increase, some foreign investors said that it was thanks to the country’s high gross domestic product (GDP) growth rate reaching 6.4 percent in the third quarter, infrastructure development and economic reform having gradually been on track. Domestic production was on the rise in October and inflation has been curbed at 3 percent this year. Moreover, state owned enterprise (SOE) equitization has supplied more attractive products for foreign investors. Vietnam Securities Depository reported that it grants nearly 1,500 stock trading codes to foreign individuals and organizations on average annually or receives four investors a day. Forum discusses limiting dependence on China in Vietnam’s crocodile export Vietnam’s crocodile export has been largely dependent on China, where is now the market of 99.6 percent of farmed crocodiles from the country, according to reports at a forum hosted by the HCMC Department of Agriculture and Rural Development recently. The event’s attendees including representatives from CITES--a multilateral treaty to protect endangered plants and animals--proposed farms to better connect together by establishing an association to reduce the dependence on Chinese market. In addition, they should improve breeding facilities and the quality of crocodile skin product for export to other markets such as Japan, Thailand, Singapore, Russia, France and Italy. HCMC should work with companies in industrial parks and export processing zones, who have imported crocodile skin to make handbags and wallets, about changing into domestic supply instead of import. Moreover, the city should inform citizens of the nutritional value of crocodile meat to increase consumption of this product in local market. According to QJM, the international journal of medicine of Oxford University, crocodile meat is fit to improve the health of the sick and malnourished children. The reptile’s bone paste has been used for treating innate glass bone disease and osteoarthritis for the elderly. HCMC tightens trading of toxic chemicals The HCMC government has issued a new stricter regulation on production, trading, usage, storage and transport of hazardous chemicals. The new rule forces organizations and individuals involved in trading and production of hazardous chemicals in the city to provide adequate documents on the origin of their products, and purchase chemicals from legitimate entities. They must have sufficient data on the sale and purchase of toxic chemicals, including detailed information on their customers. Hazardous chemicals can only be sold only to organizations and individuals willing to provide full information about users, places and purposes of usage. They will face legal action if they break the rule. Meanwhile, handlers of hazardous chemicals must strictly comply with regulations on transport routes, stops and shipping hours, and such chemicals cannot be transported together with passengers, livestock and other types of goods. District authorities in HCMC will not issue business registration certificates for those producing and trading hazardous chemicals in residential areas. Some fires and explosions in residential areas in the past involved chemical manufacturing and trading facilities. For instance, a deadly explosion caused by chemicals at Dang Huynh Production and Trade Co Ltd in District 12 on October 2014 left three people dead and four others injured. Preliminary statistics show that the city has 640 chemical trading facilities, with some 400 of them selling industrial chemicals, 130 trading health chemicals and the remainder agricultural chemicals. D&D, EESL partner to tap energy efficiency potential in Vietnam, Cambodia Cambodia’s D&D Group and India’s Energy Efficiency Services Limited (EESL) inked a partnership on November 11 to exclusively implement and invest in energy efficiency projects in Vietnam and Cambodia. The agreement was signed in HCMC by Dibyendu Patna, chairman of D&D Group, and SP Garnaik, chief general manager of EESL. EESL is a joint venture of four Public Sector Undertakings (PSUs) of the Indian Ministry of Power (MoP). It was established in 2009 as the implementation arm of MoP and the Bureau of Energy Efficiency (BEE). D&D Group is one of Cambodia’s leading businesses and has been operating in multiple domains, from telecommunication and international banking to F&B, trading, real estate, natural resources, power, IT, agriculture and education, over the last decade and a half. With only 15 years of operation, D&D Group is poised to hold a leading position in all its areas with representative offices in Singapore, Vietnam, Laos and Myanmar. Tenth open-ended equity fund launched in VN Bao Viet Prospect Equity Open-Ended Fund (BVPF), the 10th such fund on the domestic market, was rolled out in Hanoi on Wednesday. Between November 14 and December 16, investors can purchase a minimum of VND1 million worth of fund certificates. Bao Viet Securities Company and Bao Viet Fund Management Co Ltd (Baoviet Fund) are the distributors of BVPF fund certificates while Bank for Investment and Development of Vietnam is the supervising agency. Vietnam Securities Depository is the provider of transfer agent services. BVPF is the third open-ended fund of Baoviet Fund after Bao Viet Equity Dynamic Open Ended-Fund (BVFED) and Bao Viet Bond Open-Ended Fund. By end-October, BVFED had managed total assets of VND36 trillion (US$1.6 billion), one of the two biggest in Vietnam. Dau Minh Lam, CEO of Baoviet Fund, said BVPF concentrates on listed enterprises on Vietnam’s stock market. The fund will invest in businesses with strong growth potential. Lam said the launch of BVPF is to meet demand of investors who are looking for new long-term investment vehicles and that many more stocks from various sectors would be launched given robust growth on Vietnam’s equity market. The domestic market had 18 open-ended funds including five bond funds, four balanced funds and nine equity funds. The nine other equity funds on the local market are BVFED (Baoviet Fund), MBVF (MB Capital), VEOF (Vinawealth), VCBF-BCF (VCBF), VFMF4 and VFMVFA (Vinafund), MAFEQI (Manulife Asset Management), SSI-SCA (SSIAM) and TCEF (Techcombank Capital). Food demand unmet by local firms The food processing industry has been on the high growth path but has yet to meet consumer demand, Deputy Minister of Industry and Trade Ho Thi Kim Thoa said at a conference in HCMC on November 17. She said data showed domestic food consumption last year accounted for 15% of gross domestic product (GDP) and grew 18% while food and beverage production expanded 8.5% and 7.4% respectively. In the next two decades the Vietnamese economy is forecast to expand 5-6% a year, she said, adding consumption, especially of quality processed food, would continue growing at a high pace, so growth potential in the food processing sector is high. The sector can also boost food exports, she noted. “Vietnam’s agro-forestry-fisheries exports last year amounted to US$30.14 billion and are expected to increase to over US$31 billion in 2017.” Vietnamese farm products are present in more than 100 countries and territories, Thoa said. Le Van Banh, head of the Department of Processing and Trade for Agro-Forestry-Fisheries Products and Salt Production at the Ministry of Agriculture and Rural Development, said the country has ample supply of raw food material but exports of processed food remain limited. The ministry, he proposed, will need to restructure the agricultural sector in a way that encourages investment in food processing. Claudio Dordi, technical assistance team leader of EU-MUTRAP project, said data indicated Vietnam’s food processing industry is holding huge growth potential, so it is time to pour more investment capital into it. Unprocessed coffee accounts for up to 99% of total Vietnamese coffee exports, so if shipments of processed coffee are increased, the nation could boost export revenue, he said. HoREA wants land use fee calculation procedure streamlined The HCMC Real Estate Association (HoREA) said administrative procedures for determining land use fees are complicated for enterprises and residents to tackle. According to a HoREA report, land use fees of a combined VND10.5 trillion had been collected from 80 projects as of November 10. However, another 40 projects have yet to pay nearly VND1.9 trillion in land use fees. The association said land use fee revenues contribute significantly to the State budget but the present procedures affect the collection process and rattle businesses. An exact fee can never be known before an investment decision is made. The complicated fee calculation procedures have made life extremely hard for businesses, thus leading to an “ask-and-favor” mechanism in which enterprises should court officials to get things done fast. HoREA chairman Le Hoang Chau said to support the property sector to develop, the way land use fees are collected should be changed. Land use fees should be replaced by land use tax of 10-15%, he said. This would guarantee transparency, eliminate the “ask-and-favor” mechanism and maintain a steady stream of State budget revenue. The association said administrative procedures to determine land use fees should be streamlined and conducted in a transparent manner. The Department of Finance rather than the Department of Natural Resources and Environment of HCMC plays the key role in calculating land use fees for property projects in the city. The environment department is responsible for selecting consulting companies to decide land prices, carrying out procedures and preparing documents on land price assessment. Land prices will be reported to the city government. The association stressed that based on the prevailing regulations, the director of the Department of Natural Resources and Environment is not in charge of or responsible for determining land use fees for property projects. HoREA noted the council for land price assessment does not have an independent entity and experts in land pricing to ensure fairness. The association said enterprises cannot have a voice over land prices, especially when they disagree with the council. HoREA proposed adding representatives of organizations or experts in land prices to the council. Besides, enterprises should be allowed to attend meetings of the land price assessment council. They also want to participate in the Department of Finance’s meetings on site clearance expenditures which are deducted from land use fees. The association said qualified consultants should be picked to determine land prices rather than those offering low costs. VEF/VNA/VNS/VOV/SGT/SGGP/Dantri/VET/VIR |
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Social News 22/11 Eighteen fishermen rescued off Nghe An coast  Eighteen fishermen from Quỳnh Lưu District in the central province of Nghệ An were rescued on Sunday, 24 hours after their trawler’s engine failed and it went adrift at sea, said the province’s Steering Committee for Disaster Prevention, Search and Rescue. The rescue operation was conducted by the Việt Nam Maritime Search and Rescue Co-ordination Centre (Vietnam MRCC). The trawler went adrift, 30 nautical miles to the northeast of Cửa Hội Beach in Nghệ An Province, after its engine failed around Saturday noon. On receiving the alert, the Vietnam MRCC sent out its SAR 411 boat, which reached the trawler on Sunday afternoon. The rescue boat personnel provided medical aid to the fishermen, who were exhausted and in a panic after being battered by strong waves and winds for such a long time, and safely towed the trawler and its crewmen to the shore soon after. All 18 crewmen are reported to be in a stable condition. 400 cases of dengue reported in Quảng Trị At least 400 cases of dengue fever have been recorded in the central Quảng Trị Province, reveals a report released late last week. While Đông Hà City reported the highest number of cases at 103, the remaining ones are from other districts in the province, including Vĩnh Linh and Triệu Phong. Local authorities have asked agencies in Đông Hà City to inspect cleanliness and sanitation levels across the place. The province People’s Committee has requested that a campaign be conducted to eliminate mosquito breeding grounds and fumigation be done to kill the disease-spreading insects. The committee has also directed that an awareness drive be held to educate locals on how to prevent the fever from spreading further. Quảng Trị is among the poorest localities in the country, and most of its areas, including Đông Hà City, are poorly developed. Doctors remove 1.2kg tumour Doctors from the Đồng Nai International Hospital have successfully removed a 1.2kg tumour from a woman’s gallbladder. Ngô Hồng Đức, 62, from Vĩnh Cửu District, was hospitalised last Monday with severe stomach pain. Doctors at the hospital said that when she came in, she was unable to eat and had lost 15kg in just two weeks. She was anaemic and very pale. Investigations revealed that Đức had a large tumour in her gallbladder, which was blocking and affecting the functioning of her various organs. Doctors operated and removed the tumour last Wednesday. Đức is recuperating well after her surgery. Dr Lê Đình Hùng, deputy director of the hospital, said it was the biggest gallbladder tumour he had seen in his 40 years of experience. Fire destroys two buildings in Hà Nội A fire broke out in a four-storeyed building in Hà Nội’s Hai Bà Trưng District this morning, destroying most of the structure as well as the building next door. Around 11am, people on Trần Khát Chân Street heard loud explosions coming from the fourth floor of a building, said to be a chemical warehouse, and saw a column of smoke rising. The flame quickly spread to two other buildings, causing panic as locals were worried about the presence of flammable materials in the warehouse. People called the fire department, which mobilised five fire engines and dozens of firefighters. Firefighters said they struggled to success the site as it was located in a small alley and surrounded by glass windows. After 90 minutes, the fire was finally brought under control. The four-storeyed structure and another building, also reported to be a chemical warehouse, were completely burned down. There were no casualties. Initial investigations suggest that the fire was started by a short circuit. A probe is underway to determine the cause. Woman sentenced for producing fake seals, documents The Hà Nội People’s Court today sentenced a 40-year-old woman to 27 months of imprisonment for producing fake seals and documents of an organisation. Vũ Thị Bạch Nga, who lives in Thụy Khuê Ward, Tây Hồ District, was accused in 2011 of misappropriating money from several individuals. Specifically, a man named Nguyễn Thanh Hà, who knew that Nga’s husband worked for the Housing and Urban Development Corporation (HUD), asked Nga to help him purchase a flat in the Việt Hưng Residential Quarter. Other people also asked Hà to help them buy flats in the quarter and in the Vân Canh Residential Quarter. They gave Nga a total of VNĐ5.1 billion (US$266,600). In mid-2011, Nga asked a worker at the HUD to buy several flats in the two residential quarters. However, the prices of the flats had increased, so Hà declined the purchase. Nga refused to return the money to Hà and instead used it to buy land in Sóc Sơn District in Hà Nội and a flat in Hà Nội’s Hoàng Mai District. Nga lied to Hà, saying she could not get back the money from the HUD. Nga produced fake seals and documents from the HUD to support her story. However, Hà discovered that the documents were fake and accused Nga of cheating. During the investigation, Nga paid the victims VNĐ4.1 billion ($182,200). Soc Trang asked to focus on products with high value Prime Minister Nguyen Xuan Phuc has suggested the Mekong Delta province of Soc Trang further promote tourism development and agricultural restructuring, and study to produce high-value products, towards becoming a medium-income locality in the region. During his working session with key officials of Soc Trang in Hanoi on November 21, the PM highlighted the potential and advantages for Soc Trang to further develop in the future. He asked the locality needs to review its development plan, saying that this should focus on agriculture restructuring, poverty reduction and climate change adaptation, he said. Soc Trang needs to consider developing it into the country's second or third largest shrimp material area, and study to produce products with high value such as cow breeding along with rice cultivation, he added. Attention should be paid to attracting businesses to invest into the locality, and promote processing industry, thus creating more jobs for locals, he stressed. He also urged Soc Trang to build a national startups programme towards developing start-up enterprises in the locality. At the session, leaders from several ministries recommended the locality to devise solutions to climate change and drought, mobilise resources to upgrade transport infrastructure, and attract more foreign-invested projects. Concluding the session, PM Phuc praised the local authorities and people for their efforts in implementing the national target programme on new-style rural area building. However, the locality has yet to fully tap potential and advantages for development, he noted, adding that Soc Trang should to take more drastic measures to reduce the rate of poor households in the coming time. Local officials said Soc Trang is working to foster tourism and service development, while calling for investment in industry and in building a high-speed train to Con Dao, aiming to develop spiritual tourism. Soc Trang is a disadvantaged locality in the country with its economy mainly depending on agriculture and aquaculture. The province has been affected by saline intrusion and prolonged-drought early this year, severely causing damage to agricultural production. These make the locality difficult to realise 8-percent growth target this year. Vietnamese leaders condole with India over train accident Prime Minister Nguyen Xuan Phuc on November 21 sent a message of condolences to his Indian counterpart Narendra Modi over the loss of lives in the derailment of an express train in Kanpur Dehat district of Uttar Pradesh state. The same day, Deputy Prime Minister and Foreign Minister Pham Binh Minh also extended his sympathy to Indian Foreign Minister Sushma Swaraj. The accident occurred on November 20 morning, killing at least 146 passengers and injuring more than 200 others. Legislators discuss draft laws on planning, guard force Lawmakers gave opinions to a draft Law on Planning and another bill on the Guard Force during the November 21 plenary sitting of the 14th National Assembly’s second session. Minister of Planning and Investment Nguyen Chi Dung and Minister of Public Security To Lam cleared up several issues related to the bills raised by the legislators. On November 22, the deputies are scheduled to approve a resolution on the pilot granting of electronic visa to foreign visitors and a law on amending and supplementing Appendix 4 on the list of conditional business and investment fields in the Law on Investment. They are due to discuss in groups about a draft law on supporting small-and medium-sized enterprises, and a draft law on technology transfer (revised). The parliament will vote to adopt a resolution on stopping the nuclear power plant project in the central province of Ninh Thuan. Fishermen equipped with scuba lifesaving Fifteen fishermen in the central province of QuangNgai’s Binh Son district have been equipped with scuba lifesaving through a three-day training course funded by the Francophone Association for Mutual Aid and Promotion of The Life Sciences (AFEPS). The November 16-18 programme cost 458 million VND (20,298 USD), with 387 million VND (17,152 USD) sourced from the AFEPS. Experts provided the local fishermen with basic skills to prevent and handle diving-related accidents. Each trainee received a diving cylinder set from the AFEPS after the course, which aimed to help participating fishermen know how to rescue themselves and pass the knowledge to others as well as know scuba equipment maintenance. A similar AFEPS scuba course was scheduled for another 24 fishermen in Quang Ngai’s Ly Son island between November 19 and 24. Int’l forum on new rural development opens in Hanoi The Ministry of Agriculture and Rural Development hosted an international forum in Hanoi on November 21 to promote new rural development in Vietnam for 2016-2020. Speaking at the event, Director of the ministry’s Department of International Cooperation Tran Kim Long said the National Target Programme on New Rural Development for 2016-2020 sets the key goal of devising synchronous policies and special mechanisms for poor and climate change-hit areas, diversifying social resources for the effort, particularly official development assistance and technical support from foreign partners. Chief Representative of the Food and Agriculture Organisation (FAO) in Vietnam Jong Ha-bae hailed fruitful results of the 2010-2015 programme, citing improved power supply, road and school infrastructure and health care service. However, he admitted that poor farmers still lack credit access and agriculture insurance while the rates of poor households in several areas remain high. Jong said FAO will continue providing government support to Vietnam’s agriculture, building evidence-based policies targeting food and nutrition security, strengthen approaches to sustainable agricultural production with a focus on economic development in tandem with environmental protection. The FAO will offer a technical support programme to Vietnam to improve income in rural areas, he said. Carolina V.Figueroa-Geron from the World Bank (WB) said the lender has initiated the Programme for Results (PforR) to assist national target programmes, which is expected to improve the quality of investment in agriculture and livelihoods within the framework of the National Target Programme on New Rural Development and the Programme 135 as part of the National Target Programme on Sustainable Poverty Reduction. The PforR will give priority to helping the government with planning, implementation, monitoring and governance while providing financial assistance for small-scale infrastructure and livelihoods, contributing to enhancing productivity and added value, she said. Japanese firms updated on investment opportunities in Vietnam Representatives from 60 businesses in Mimasaka city of Japan’s Okayama prefecture and locals have attended a workshop in the locality to study investment and business opportunities in Vietnam. Jointly organised by the Vietnamese Consulate General in Osaka, the local administration and the Japan-Vietnam Friendship Association of Mimasaka, the event offered a good chance for participants to get an update on Vietnam’s policies and incentives related to foreign investment attraction. The information about Vietnam’s socio-economic development and Vietnam-Japan relations was also provided to the attendees. While sharing his impression after his trips to Vietnam, Mimasaka Mayor Hagiwara Seiji spoke highly of Vietnam’s business and investment potentials as well as its efforts to improve policies and business climate. He also highlighted Japan’s endeavours to expand cooperation with Vietnam and draw foreign investment. The mayor stressed that Mimasaka has actively promoted cooperation with Vietnam, especially in education-training, labour, economy-trade, and tourism. The city inked a cooperation agreement with Da Nang University in the central city of Da Nang in April last year, he added. ASEAN police share experience in enduring traffic safety Traffic police from ASEAN member countries have exchanged experience in ensuring traffic safety and order, and discussed measures to facilitate cross-border transportation at a forum that kicked off in Hanoi on November 21. The first ASEAN Traffic Police Forum, an initiative of Vietnam, brought together 150 delegates from the ASEAN nations, and representatives from embassies of regional countries and the ASEAN Police Chiefs (ASEANPOL). In his opening remarks, Vietnamese Minister of Public Security Sen. Lieut. Gen To Lam highlighted similarities in traffic safety and order shared by ASEAN countries with high rates of traffic accidents, deaths, injuries and congestion. Member countries of the Greater Mekong Sub-region also signed memoranda of understanding on cooperation in transport, he said, noting that such documents have just touched upon cooperation in facilitating cross-border transportation without mentioning collaboration in ensuring traffic safety and order. The Vietnamese Government has paid heed to ensuring traffic safety and order, and considered this one of the key national programmes, the officer affirmed. However, Vietnam remains one of countries with large numbers of traffic accidents and jams, according to the minister. Lam said the Vietnamese Ministry of Public Security (MPS) hopes to learn from other regional countries’ experience in guaranteeing traffic order and safety, and improving State management in this field. Major General Tran Son Ha, head of the Traffic Police Department under the MPS, said transport and traffic order and safety play an important role in building a complete and sustainable ASEAN Community. He explained that transport helps promote socio-economic and cultural development as well as trade exchange domestically, regionally and internationally. The three-day forum, to last through November 23, will discuss issues regarding traffic accidents, traffic law enforcement and driving licence grant. The participants are scheduled to make a fact-finding trip to the Hanoi-Hai Phong expressway. HCM City to help sight-impaired students with Braille book ibrary staff at the HCM City University of Social Sciences and Humanities plan to develop audio and Braille books for students with visual impairments at the university. The books are one of four initiatives chosen for be granted funds from a project designed to help university students with disabilities to access education carried out by the HCM City Disability Research and Capacity Development (DRD) Centre under the sponsorship from the Embassy of Ireland. Bui Thi Hang, Director of the Library and Information Centre at University of Social Sciences and Humanities and the initiative’s team leader, said that the university has 10 students with visual impairment. Because of this disability, these students can not access documents at the library, Hang said. “Currently, they just learn and research by hearing and writing down what lecturers say. Moreover, they access the free source of documents on Internet, but many of them are not verified,” she told Viet Nam News. Many of them take initiative in going to the library, but there are no audio and Braille books in the library to serve them, she added. In the initiative, the library’s staff also will be trained to guide these students to use effectively the library’s documents, Hang said. It is expected that the audio and Braille books will be available next January, she added. Another initiative of lecturers from the Education Faculty at the University of Social Sciences and Humanities that has been provided funds will provide psychological counselling and other assistance services in learning for students with disabilities at the university, Le Thi Yen Di, its group leader, said. At the Education Faculty, a counselling and assistance room for these students will be opened, she said. Two other initiatives of lecturers and staff at the city University of Education include developing a Braille map for its students with visual impairment to know the way to classrooms and providing an assistant for students with disabilities at the university. The project to help university students with disabilities to access education started at the two universities of Social Sciences and Humanities, and Education in January. Later, the DRD centre aims to expand the one-year project to other universities throughout the city. In the project, students with disabilities will raise their capacity to know and implement the rights of education and comprehensive development. They are also provided learning aid devices or volunteers who are ready to support their learning. It also aims to improve the awareness of university staff on providing necessary assistance to students with disabilities. Moreover, students will get support in seeking enterprises for internships or jobs after graduating. Luu Thi Anh Loan, the centre’s acting director, said that students with disabilities in the country still face difficulties in learning at universities and colleges. For instance, infrastructure there is not accessible for them. According to the 2009 Population and Housing Census in Vietnam, the country has 6.1 million people with disabilities age 5 and above, or 7.8 percent of the total population. Of them, less than 0.1 percent study at universities or colleges. Free check-ups, medication for OVs in Cambodia Free check-ups and medication were offered to disadvantaged Vietnamese expatriates and Cambodian people in Cambodia’s Kandal province on November 21. About 300 overseas Vietnamese (OVs) and Cambodian people in Ponhea Leu district benefited from the programme, organised by the Ho Chi Minh City Committee for OVs and the Pham Ngoc Thach University of Medicine. Aside from check-ups, medicine and gift provision, the working delegation also presented 500 sets of books teaching Vietnamese, 600 sets of learning tools and 5,000 notebooks for the association of Vietnamese-Cambodian people in Kampong Chhnang and Pursat provinces. Pham Thi Ngoc Hanh, deputy head of the HCM City committee, said the programme is to realise the Politburo’s Directive 45-CT/TW dated May 19, 2015, on accelerating the implementation the ninth Politburo’s Resolution 36-NQ-TW on OVs-related work in the new situation. “Through this activity, we want to convey the Vietnamese Party, State and people’s sentiment towards the expatriates, wishing them happiness and prosperity,” she said. Hanh also expressed her hope that the OVs and Cambodian people will continue to strengthen the traditional friendship between the two countries. This was the second charity programme in Cambodia held by the HCM City Committee for OVs in 2016. Vietnam People’s Army presents information equipment to Laos Information equipment was presented to the Information Department under the General Staff of the Lao People’s Army at a ceremony held in Vientiane on November 19 as a gift from the Vietnam People’s Army (VPA). The equipment presentation aimed to realise the protocol on Vietnam-Laos defence cooperation in 2015-2019 and the cooperation plan between the two countries’ defence ministries for 2016. Addressing the ceremony, Colonel Pho Trieu Cuong, deputy chief representative of the Vietnamese Military AttacheOffice in Laos, reaffirmed the significant role of Vietnam-Laos solidarity in the revolutionary cause of each nation. Over the past time, the VPA has given the highest support to Laos, Cuong said, adding that the gift is expected to help ensure a firm information system for the Lao Ministry of National Defence, thus serving Laos’ national building and protection. Director of the Lao department Colonel Sayaphon Chanthavong thanked the VPA for its assistance for Laos during the struggle for liberation in the past as well as in the current national construction and defence. The gift will help improving the capacity of the Lao People’s Army in communication, he affirmed. He pledged that his department will effectively use the presented equipment to better fulfill its assigned tasks. Northern region first ethnic group dancing competition to open As many as 30 performances will participate in the first professional dancing competition of ethnic minorities in the northern region. The announcement was made by People’s Artist Ung Duy Thinh, Vice Chairman of the Vietnam Dancing Artist Association (VDAA), at a press conference on November 21 in Hanoi. The competition, co-organised by VDAA, the Literature and Art Association of Vietnamese Ethnic Minorities, aims to honour dancing works on Vietnamese ethnic groups. It also serves as a platform for composers, choreographers and artists to exchange experiences, particularly in composing art work on Vietnamese ethnic groups, while contributing to the orientation of the future Vietnam’s dancing development. To date, the organiser has received 30 entries, most of which are dances in group. They will be staged from November 27-28 at Au Co Performing Arts Centre, Hanoi. The awards ceremony will be held on November 28 evening. A workshop relating to folk dance of ethnic groups and professional dancing works will take place on November 29 morning as part of the competition. The competition for the southern region will be held in 2017. Outstanding plays honoured at Int’l Experimental Theatre Festival Three plays from Vietnam, Japan and China won gold medals at the International Experimental Theatre Festival 2016, which ended on November 20. The three plays include Under the Sand is Water (by the Military Drama Theatre of Vietnam), The Seagull (by the Theatre Centre Without Walls and Theatre Company a la Place from Japan), and Ramayana (Henan Beijing Opera Troupe from China). Vietnam’s play Under the Sand is Water was performed at the opening ceremony of the festival one week ago at the Hanoi Opera House. With the actors wearing theatrical masks during the performance, the play features the life of a family in central province of Quang Binh. It touched audiences by leading them to the deep humanity in the bottom of the character’s hearts. The message of the play is clear: beneath the hot sand is the cool water, behind the feud is love and altruism. Ramayana, an ancient Indian epic, was adapted in a play by Chinese artists, featuring the Beijing opera, combining singing, speaking, acting, and martial arts—with stunning acrobatics and music. The Seagull, which is originally a play by Russian 19th century dramatist Anton Chekhov, was staged by Japanese artists at this festival in a different way, combining Eastern and Oriental cultures. At the closing ceremony, silver medals were also awarded to four plays: Medea and The Dream (Vietnam), Hotel Paradiso (Germany), and Pure Love (the Philippines). Several Vietnamese and international artists were also honoured during the festival. Meritorious artist, theatre director Tran Minh Ngoc, who is president of the jury of the festival, said he highly appreciated the quality of the plays. “Through the plays which were presented in this festival, the artists have proved that they worked hard to find new ways to tell stories… Those new ways can be the combination between the language of silence, and body movements, or the combination between traditional theatre and contemporary theatre, or the combination between Oriental and Western theatre.” He added that he was impressed by the technology and installation art used in several plays. Vuong Duy Bien, deputy Minister of Culture, Sports and Tourism, stressed at the closing ceremony that the festival helped showcase the culture of different countries. “This is a great opportunity for domestic and international artists to exchange experience and raise their level of expertise,” he said. “It also encourages Vietnamese artists to create more high-quality art works, contributing to the development of the country’s culture.” Apart from performances, various discussions on experimental plays took place during the event. The International Experimental Theatre Festival 2016 took place in Hanoi from November 12-19 with workshops and 16 plays performed by eight troupes from China, the Philippines, Japan, Greece, Germany, Panama, France, and Vietnam. It was the third experimental theatre festival held in the country. The first and second festivals were held in Vietnam in 2002 and 2006. The fourth International Experimental Theatre Festival is expected to be held in Hanoi in autumn 2019. The festival was organised by the Vietnam Stage Artists Association and the Ministry of Culture, Sports and Tourism’s Performing Arts Department. Quang Nam’s coastal localities face serious landslides Tam Hai island commune in Nui Thanh district, the central province of Quang Nam has faced an increasingly serious landslides, forcing many people to leave their houses. Binh Trung village’s hamlet 3 once had 70 households, but the majority of them have moved and left desert houses. Vo Minh Cong’s family, one of the six households choosing to stay, has their backyard intruded by seawater. Cong, 71, said that his hamlet locates in the estuary of Truong Giang river, thus have been affected by landslide for years. This year, although it has not been hit by devastated storm, the hamlet has faced rapid and unexpected landslide and locals were not able to respond, he said. Along with Binh Trung, Tan Lap and Thuan An villages have also been ravaged by landslides. According to Nguyen Tan Hung, Vice Chairman of the Tam Hai commune People’s Committee, in 2012, the Chu Lai Open Economic Zone’s Management Board supported the locality to build a 1.8km dyke with total investment of 48 billion VND. However, one end of the dyke with a 200m section in Tan Lap village has been washed by sea wave, destroying protective forest in the area. Currently, Tam Hai island commune has 60 vulnerable areas where locals need urgent evacuation, the majority of whom are poor, he said, adding that the aid of 20 million VND per households is not enough for them to resettle. He underscored that Tam Hai commune hopes to receive more investment to construct about a 4.5km dyke. Locals have also actively plant mangrove forest with a newly-planted area of 17 hectares. Outstanding youth to receive Lương Định Của Award A total of 85 outstanding young people from throughout the country will receive the Lương Định Của Award at a special ceremony in Hà Nội on November 26. The Lương Định Của Award is an annual award sponsored by the HCM Central Youth Union and given to young people with outstanding achievements in manufacturing, trade, applying modern science technologies, protecting the environment and setting up new rural lifestyles. Nguyễn Phi Long, Secretary of the HCM Central Youth Union, said that the award aimed at encouraging rural young people to contribute to developing the country’s socio-economic, agriculture and new rural lifestyles. This is the eleventh year the awards ceremony will be held. The 85 young people receiving the award this year are between 18 and 35 years old. Thirteen of them are members of ethnic minorities, including Bana, Dao, H’mông, Mường, Sán Chỉ, Tày and Thái. Work done by the young people in trading and manufacturing brings in from VNĐ100,000 million (US$4,400) to more than VNĐ1 billion ($44,400) per year. They have created permanent work for nearly 500 workers and seasonal work for thousands of workers in their communities. During the award ceremony, each of the young people will receive a certificate of merit, a cup, and VNĐ2 million (about $90). They will also receive technical and financial help to further develop their manufacturing businesses, with help from the Việt Nam National Oil and Gas Group, and Agribank. Hanoi Women’s Club targets US$100,000 for charity The Hanoi International Women's Club will host their 25th annual charity bazaar on November 27 at the St Paul American School— hoping to raise a record setting US$100,000 for charity, says President Gill Lever. The event has attracted the participation of more than 50 exhibitors from 43 countries, showcasing a vast array of items including everything from colourful traditional costumes, organic cosmetics and household appliances to handicrafts. Aiming to raise funds for women's and children's health and education along with community projects in Vietnam, the bazaar is a family fun day as well as a great Christmas shopping opportunity. Visitors also have a chance to try delicious food and drink from around the globe as well as enjoy interesting musical performances of famous artists such as Korean opera star Park Sung Min, pianist Trang Trinh, the Hanoi Brass Band, African Band, Apaxionado, and the Electric Yard Dogs. Those interested can obtain more information about the event at hanoi-iwc.com/annual-charity-bazaar. France launches social network for teachers of French Around 100 teachers of the French language at secondary schools and universities in HCMC and Can Tho City attended the launch of IFprofs, a social network for French-teaching people on the occasion of the Vietnam’s Teacher Day which was held over the weekend at the French consul general’s residence in HCMC’s District 1. IFprofs, developed by the French Institute in Paris, has attracted around 4,500 members in 29 countries in the world, 186 of them are Vietnamse. Teachers can access the platform for teaching materials and methods. Nguyen Thi Dinh, a teacher with Phan Chau Trinh Highschool in the central coast city of Danang, won a contest to discover IFprofs with an award to attend a language master class in France, sponsored by the French Institute in Vietnam. An office of French-teaching people (FIEF) under the management of Vietnam – France Friendship Union in HCMC and Can Tho was also unveiled this year. The office is a hub to support cooperation and cultural exchange of French language with provincial departments of education and training across Vietnam. Since 2015, the French consulate general in HCMC and the French Institute in Vietnam have hosted a special day for Vietnamese teachers to honor their contributions in teaching the French language in the country. Reverie Saigon listed among top hotels in the world Featured in a recent Town & Country article, The Reverie Saigon was listed amongst “83 Top Hotels Around the World.” The listing represents luxury accommodations from around the globe for American and international jet-setters. According to Kai Speth, The Reverie Saigon’s general manager, it is an honor to be featured on this distinguished list from Town & Country, a monthly American lifestyle magazine. Through the centuries, Town & Country has remained an influential source of news and entertainment of modern American society. People can read a full article at http://www.townandcountrymag.com/leisure/travel-guide/a8059/best-hotels-world/ A member of The Leading Hotels of the World, The Reverie Saigon – a latest luxury addition to the country’s flourishing hotel scene - features 286 rooms and suites alongside 89 fully furnished serviced apartments. The property also features five distinctive food and beverage outlets, a 1,200-square-metre spa & fitness centre, an expansive outdoor swimming pool and 16 function spaces. The Reverie Saigon is located at Times Square Building at 22-36 Nguyen Hue Boulevard & 57-69F Dong Khoi Street, District 1, HCMC. Local artist unveils flooding season themed photo exhibition “An Giang in flooding season” is a photo exhibition by artist Huynh Phuc Hau currently on display at Tinh Te Café in HCMC’s District 3 until December 3. Hau has a strong desire in taking landscape photos and he aims to feature the unique beauty of Chau Doc and Tinh Bien areas in the Mekong Delta province of An Giang in the flooding season. The exhibition features 39 of Hau’s artworks which had been taken during the past 12 years, depicting the nature, people’s portraits and daily activities of people during the flooding season. Apart from the exhibition, the artist also publishes a landscape photo calendar to raise funds for poor patients at a general hospital of An Giang. Huynh Phuc Hau is an ultrasound-scan doctor in Chau Doc City in An Giang Province. He was named the photography artist of Vietnam in 2009. Tinh Te Café is located at 209 Nam Ky Khoi Nghia Street in District 3, HCMC. VNA/VNS/VOV/SGT/SGGP/TT/TN/Dantri/VNE |
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