Thứ Ba, 31 tháng 10, 2017

Vietnam police poised to investigate Khaisilk’s ‘Made in China’ scandal 

An inspection group including police, customs, and tax officers will also be formed to carry out a comprehensive examination of Khaisilk products

 
The Khaisilk outlet on Hang Gai Street in Hanoi has been closed since October 26, 2017. Photo: Tuoi Tre
 Police are set to step in to probe a scandal that has rocked the Vietnamese silk industry as the owner of a premier silk brand had admitted that half of its high-end ‘Made in Vietnam’ scarf stock comes from China.
Following a closed-door meeting on Monday, the Ministry of Industry and Trade announced on its official website that it had ordered the transfer of the scandal’s documents to the criminal police division under the Hanoi Department of Police.
All documents have been sent to the police ever since.
Tag removal?
Khaisilk, a premier Vietnamese silk brand, made headlines last week when one of the company’s scarves was found bearing both a ‘Made in China’ label and a ‘Made in Vietnam’ one, giving rise to suspicion of trade fraud.
A Facebook user, Dang Nhu Quynh, had reported that the scarf was part of a 60-item order his brother had placed with a Khaisilk store in Hanoi at VND644,000 (US$28) apiece.
In his status update, Quynh said that some of the remaining 59 ‘Made-in-Vietnam’ scarves displayed signs that a ‘Made in China’ tag had been cut off.
The brand owner, Hoang Khai, later confessed that 50 percent of his silk scarves were sourced from China and sold under the guise of Vietnamese products.
On Sunday, a Hanoi market surveillance agency stated in a report that it was employees of the Khaisilk outlet who had changed the tags without anyone else’s knowledge, as their supply of silk scarves had fallen short of demand.
Located at 113 Hang Gai in Hoan Kiem District, the store is registered under the name of Nguyen Thi Thu Nga and has a business license granted by the Hoan Kiem administration.
The Hanoi store has been closed while two Khaisilk shops in Ho Chi Minh City have also been shut down since last weekend.
Trade Minister Tran Tuan Anh has asked Hanoi police to look into the violations of Nga’s business.
He urged the establishment of an inspection group including police, customs, and tax officers to carry out a comprehensive examination of Khaisilk products.
 ​Vietnam police poised to investigate Khaisilk’s ‘Made in China’ scandal 
The interior of the Khaisilk outlet on Hang Gai Street in Hanoi. Photo: Tuoi Tre

Minister Anh requested the People’s Committees in Hanoi and Ho Chi Minh City to direct close investigations into the activities of the firm in each locality.
According to Chu Xuan Kien, Deputy Minister of Industry and Trade, Nga is the representative of Khai at the 113 Hang Gai store.
An official from the Hanoi market watchdog said that its report only showed initial results, as competent agencies would continue their probe to reach a final conclusion.
Incredible report
V.A., business manager of the Ho Chi Minh City-based LP Textile Company, asserted that the report of the market surveillance agency is unreliable and unacceptable.
In accordance with protocol, all products and revenues at outlets must be reported back to the company on a daily basis, A. stated.
In case of a hike in demand, store managers always inform their firm to source additional products and check the origin of all merchandise.   
A former Khaisilk partner said that Khai, as the brand owner, has to supervise every step in the operations of his outlets, which makes it difficult for any manipulation by any employee to take place.
This could be a way to mitigate the firm’s wrongdoing, the former business partner remarked.
Tran Huu Huynh, chairman of the Vietnam International Arbitration Center, added that a   business owner must take responsibility for all his merchandise under any circumstance. 
Founded in the late 1990s, Khaisilk scarves are considered a premium product, popular   amongst local luxury consumers and international tourists.
Khaisilk also trades wallets, bags, ties, and other items of clothing.
Tuoi Tre News
Social News 1/11

Central Highlands urged to ensure absolute safety during APEC 2017

Central Highlands urged to ensure absolute safety during APEC 2017, Vietnamese officers, nurses update about first aid, Exhibition spotlights Vietnam-Laos special solidarity, Tunnel completed ahead of APEC 
Minister of Public Security To Lam.

Localities and units in the Central Highlands need to jointly take measures to ensure maximum security and safety for the upcoming APEC 2017 Economic Leaders’ Week slated for November 6-11 in the central city of Da Nang, said Minister of Public Security To Lam.
Addressing a conference to review the region’s crackdowns on criminals and armed gangs on October 30, Minister Lam highly valued the achievements made by the police of the five Central Highlands provinces.
He noted that the provincial Police Department should give advice to local authorities on measures to promote the combined strength of the entire political system in combating crimes, particularly the organised ones, forest land disputes and encroachment, homicide, and child abuse.
Police force needs to continue cooperating with relevant bodies in preventing and fighting drug smuggling in the Vietnam – Laos – Cambodia border areas, he said, adding that focus should be put on building the Party and police force while honouring individuals and units for outstanding efforts in the fight against crimes.
Over the past years, the Central Highlands has faced numerous serious social problems, such as murder, child abuse, robbery and gambling.
With the joint efforts of local authorities, relevant bodies and communities, the regional police forces have completed and surpassed their targets, particularly in reducing the number of criminal cases and detecting more economic, environmental and drug-related violations.
On the occasion, 12 units and 12 individuals were honoured for their outstanding contributions to the anti-crime fight.
Vietnamese officers, nurses update about first aid
The Vietnam Peacekeeping Centre has coordinated with Military Hospital 175 and partners from Australia and the US to open a training course on first aid by air and trauma care for officers and nurses at the second-level field hospital.
Australian experts shared experience in first aid by air of the UN peacekeeping mission in South Sudan and instructed trainees to practise a flight to improve their capacity in the field.
Meanwhile, US specialists will provide guidance on trauma care.
After completing the course from October 30-November 5, the trainees will take an exam to get the International Trauma Life Support (ITLS) certificate and prepare for joining the UN peacekeeping mission.
Vietnam’s first field hospital model is set to join the United Nations peacekeeping mission in South Sudan in 2018.
Vietnam has been actively participating in the UN peacekeeping operations in recent years. Since 2014, the country has sent 19 officers to the UN peacekeeping missions in South Sudan and the Central African Republic.
RMIT University Vietnam presents 111 scholarships
RMIT University Vietnam recently awarded 111 scholarships worth more than VND33 billion ($1.4 million) to prospective students at its Saigon South and Hanoi campuses.
Allocated in nine categories and covering 100, 50 or 25 per cent of tuition fees, the scholarships have been offered to students in a variety of study fields, including business, communications, fashion, design, and technology.
RMIT Vietnam President Professor Gael McDonald emphasized that the scholarship program was a way of giving back to Vietnam.
“Our scholarship program is to ensure that talented Vietnamese students have the opportunity to excel through an international standard of higher education,” she said. “As well as receiving partial or full tuition, successful recipients benefit from the expertise and global experience of our academic staff, our high-quality facilities and infrastructure, as well as our industry-informed curriculum and strong industry connections.”
“Alongside their formal academic studies, students can also enjoy many extracurricular activities organized by clubs and societies, opportunities to develop soft skills through our Personal Edge program, and overseas study opportunities at one of our nearly 200 partner universities all over the world,” she added.
At a ceremony held to present the scholarships, nine students received the President’s Scholars award, including one award from the RMIT Vietnam - Vietcombank Fund. The award is the University’s most prestigious scholarship and is given to outstanding high school students who have achieved exemplary academic grades and demonstrated outstanding community engagement and leadership potential.
For the first time the University also presented scholarships to women enrolling in its PhD program and to students joining the Bachelor of Engineering (Robotics and Mechatronics) and Bachelor of Engineering (Software Engineering) programs. The two PhD scholarship recipients are both lecturers from well-known universities in the country.
“These two PhD scholarships are specifically for women as we want to see more women in research, especially in fields like engineering, where women’s participation in the labor force is low, and in business, where senior leadership is led predominantly by men,” Professor McDonald said.
Over the past 16 years, RMIT Vietnam has awarded 1,000 scholarships worth more than VND238 billion ($10.4 million) to young people from all over Vietnam and around the world.
Exhibition spotlights Vietnam-Laos special solidarity
An exhibition highlighting the traditional friendship, special solidarity and comprehensive cooperation between Vietnam and Laos opened on at Kaysone Phomvihane Museum in Vientiane, Laos, on October 30.
Kết quả hình ảnh cho Exhibition spotlights Vietnam-Laos special solidarity

The event, co-organised by the offices of the Communist Party of Vietnam (CPV) Central Committee and the Lao People’s Revolutionary Party (LPRP) Central Committee, is part of the activities of the Laos-Vietnam Friendship and Solidarity Year 2017 and 72 years of the military alliance between the two countries.
Opening the exhibition, Khampha Phimasone, deputy chief of the LPRP Central Committee’s Office, said that more than 400 exhibited photos, documents and items introduce major events and partnership between the two Parties and States, as well as outstanding achievements of each country.
Historical turning points and important events of Vietnam and Laos during national defence and construction are also spotlighted.
The exhibition also shows main foundations for the development of the special ties and fighting alliance between Vietnam and Laos, along with the role of Presidents Ho Chi Minh, Kaysone Phomvihane and Souphanouvong as well as leaders of the two parties and generations of Vietnamese and Lao people in growth of the ties.
Khampha Phimasone said that the event is a chance for people of the two countries to get deeper understanding on the special relations between the two countries, thus working together to nurture and develop the ties.
The exhibition stays open until the end of this year.
Tunnel completed ahead of APEC
The central city of Đà Nẵng rushed to complete a traffic-easing tunnel project at one of the city’s busiest roundabouts before the APEC Summit begins on November 5.
Work on the tunnel at the junction of Điện Biên Phủ, Nguyễn Tri Phương and Lê Độ streets began 11 months ago, according to the city’s managing board of Priority Infrastructure Projects. The VNĐ220 billion (US$9.77 million) road tunnel project, part of the city’s World Bank-funded sustainable development project, will replace the current ground-level intersection with a system of 160m-long open air tunnels and 80m underground tunnels. It is now technically complete, though not yet open to traffic. There will be two lanes for Bus Rapid Transit along with another two lanes for other vehicles.  
It’s the city’s second such road project after a tunnel at the West Hàn River bank traffic intersection commenced construction last October, and one of the key projects in the city’s strategy to promote public transport and a Bus Rapid Transit (BRT) network.
Nguyễn Hữu Tuấn, deputy general director of Thuận An construction and trading joint-stock company, a contractor of the project, said the tunnel’s opening was timed to coincide with the APEC Summit, which the city is hosting for the first time.
“We have completed the technical inspection before opening for traffic. We revved up the construction schedule to complete the project in time before the APEC Summit,” Tuấn said.
“We had some items delays, but labourers worked through the nights to finish the tunnel early,” Tuấn said.
The city also plans to build a metro, tramway, and underground and sky train between 2020 and 2030.
With a population of one million, Đà Nẵng’s current public transit system is not meeting the needs of local residents. Only 1 per cent of the 2.5 million daily journeys in the city are made by public transport.
Đà Nẵng, the third largest city in Việt Nam, has invested in urban development to become the largest city in the central region and a green city by 2025, with funds from the World Bank.
In 2013, the World Bank agreed to provide $202 million for a $272 million sustainable development project to help build the city’s Bus Rapid Transit Network, lay new roads and revamp the drainage system.
The bank also funded a five-year priority infrastructure project for the city, by covering 70 per cent of the total cost of $218.4 million. 
Photos highlight Vietnam-Algeria diplomatic ties
A photo exhibition highlighting the diplomatic relations between Vietnam and Algeria over the past 55 years were showcased in Hanoi on October 30.
The event was jointly held by the Embassy of Algeria in Vietnam, the Vietnam-Algeria Friendship Association, and the University of Social Sciences and Humanities.
Algerian Ambassador to Vietnam Mohamed Berrah said the two countries established diplomatic ties in October 1962. After Algeria gained independence in 1962, Vietnam opened its embassy in Alger capital. Over the past half century, the bilateral relations have been developing across the board, including politics.
The two nations share a common vision on international relations built on peace, stability and security while settling disputes via peaceful means without intervening internal affairs and using forces in addition to respecting the national sovereignty and territorial integrity and supporting national self-determination, he added.
He noted that the two sides have cooperative relations in various fields. The economic partnership has a lot of prospects, notably the joint oil and gas mining projects in Algeria. 
The Ambassador said he was impressed by Vietnam’s achievements and efforts in diversifying the economy, attracting foreign investment, and integrating into global trade.
Vietnam’s integration will continue to be reinforced given increasing free trade agreements, he added.
The event also screened the “Lotus” movie – a joint product of Vietnam and Algeria.
Women’s museum celebrates 30 years
An exhibition reviewing the development of the Vietnamese Women’s Museum over its 30 years of existence opened in Hà Nội on Saturday.

Kết quả hình ảnh cho Women’s museum celebrates 30 years

Themed ‘Three Decades of Devotions and Dreams’, the exhibition showcases photos, documents and objects used to exhibit and restore works at the museum.
The museum was founded by Nguyễn Thị Định (1920-92), a leading figure in the Vietnamese struggle against the French colonial government and in the American war, when she was a chairwoman of the Women’s Union.
The museum and its exhibition pay tribute to the role Vietnamese women in history and today, said Lê Khánh Hải, deputy minister of the Ministry of Culture, Sports and Tourism. 
“After four years closed for renovation, the museum hosted many exhibitions in a scientific and eye-catching way with modern equipment,” he said. “The museum provides precious information on traditional culture and issues of contemporary society, especially women’s issues.”
The exhibition will run during three months at the Vietnamese Women’s Museum, 36 Lý Thường Kiệt Street, Hà Nội.
Young man engineers a herbal farming success
Lê Huệ was born in poverty-stricken An Xá Village in Quảng Trị Province.
He studied well at school, and was able to get admitted to the Đà Nẵng University. After he graduated with a bachelor’s degree in construction engineering, he found work with the Institute of Research and Handicraft Development.
He had done well for himself. However, about three years of working, he quit his job and returned to his native place to engage in farming.
His mother, relatives and friends opposed the decision, arguing that giving up a stable job would not be good for his career, but Huệ was determined.
It was not a naive decision.
While working at the research institute (2013- 2015) he had joined foreign-invested hi-tech agriculture projects carried out in ethnic minority areas of ĐaKrong (Quảng Trị Province) and Tây Giang (Quảng Nam Province) districts.
The projects, funded by the Netherlands, Germany, and China, helped about 1,000 ethnic minority women earn more money and improve their lives.      
On a working visit to the northern provinces of Ninh Bình, Lào Cai and Nghệ An, he found local farmers reaping handsome gains by growing herbs.
It made him wonder if this success could be replicated back home in Quảng Trị, where there was a lot of land but harsh climatic conditions.
"I only thought that what other people can do, my villagers can do, too. So I learnt the techniques of growing lemongrass and making essential oils.”
To make sure he learned the right things, he spoke directly to agricultural experts. He was motivated and encouraged by them to cultivate herbs, especially lemongrass.
Lemongrass is a valuable herb with many uses. It is used in cooking, and its essential oil is used by the pharmaceutical and cosmetic industries. It was also a product with high export potential.
However, when Huệ spoke about cultivating this herb, he met opposition from his family, especially his mother, who felt it was best that he persisted with good job and stable salary of several million đồng. No one in the province had done anything like that, she pointed out.
However, Huệ’s mind was made up. Towards the end of 2015, he resigned from the research institute and borrowed VNĐ200 million from family, relatives and friends to rent a 5ha plot in Cam Lộ Town to grow lemongrass.
He signed a product consumption agreement with a co-operative in Ninh Bình Province, collected and purchased stalks from local households.
"When I began planting the stalks, many local people shook their heads and worried about my job. Sometimes, someone would call and ask: “Are the shrubs still alive?’
Alongside growing the herb, he had to raise more money to buy two distilleries costing VNĐ150 milion each.
But the care he took of the shrubs ensured that they had high oil content, and would earn a stable income. In 2016 alone, he harvested four crops and distilled 1,500 liters of oil, earning VNĐ400 million.
“On average, I can earn a profit of VNĐ80 million from a hectare of lemongrass,” he said. He also began intercropping, planting hundreds of guava, mango and lemon trees, and the fruit trees yielded an extra income of VNĐ40 million per year. There was another added benefit.
"Lemongrass keeps harmful insects away, so the fruit grower doesn’t need to spray insecticides," Huệ said.
Huệ visited many areas in the country growing herbs as he looked for consumption markets, and he was able to get several export orders for a thousand litres of essential oils per month.
He invited villagers to his farm so that they could see the whole process, from growing lemongrass to making the oil.
He also assisted many households with fertilizers and stalks, guided them on cultivation and processing, and signed contracts to purchase products.
Huệ said  the best time to grow lemongrass was September. At an average of 40,000 shrubs per hectare. Each hectare yields up to 100 tonnes of raw material per year, which can be turned into 300 liters of essential oil worth VNĐ180 million.
In Đakrong District, farmers have planted more than 25ha of lemongrass while Gio Linh District has dedicated 30ha to the herb.
Today many ethnic minority women from the Vân Kiều and Pa Ko communities living in the mountainous commune of Hải Phúc in Đakrông District, about 50km from Đông Hà City, are growing cây xả (lemongrass) under Lê Huệ’s guidance.
One woman said that in the past, the Vân Kiều and Pa Kô suffered great poverty, but cultivating herbs like lemongrass has improved their living standards now.
Huệ has expanded his business, producing 2,500 litres of tea tree (cây tràm) oil last year, earning VNĐ1.5 billion. .
His farm has created permanent jobs for 50 people and provides seasonal work to 100 others. Huệ plans to process aromatherapy oils from other herbs and set up a website to introduce his products. — 
Seminar reviews October Revolution’s significance to socialism
A seminar, themed “Great October: achievements, lessons and looking towards the future”, took place in Moscow on October 31 on the occasion of the 100th anniversary of the Great October Revolution of Russia. 
Speaking at the event, President of the Ruso socialism council Ivan Nikitchuk underscored the significance of the October Revolution to socialism, national liberation and global workers’ movements, adding that the Soviet Union successfully built the first socialism in the world which put an end to slavery. The State founded by V.I. Lenin defeated fascism and militarism, saving human race from genocide regime. 
First Secretary of the Political Office of the Vietnamese Embassy in Russia Le Thi Thanh Ly highlighted historic significance of the October Revolution to Vietnam, saying that Vietnam’s road to socialism has been ever bright.
From being under embargo, Vietnam has normalised and established diplomatic ties with 178 countries and leading international organisations, diversified ties with foreign partners in the spirit of being a friend and trustworthy partner. The country also actively joins regional and global cooperation process, she said. 
Talking to Vietnam News Agency correspondents, Vice President of the Communist Party of Russia Dmitry Novikov lauded the prospects of socialism and thanked Vietnam and its Communist Party for consistently following socialism thoughts.
The event attracted Marxism scientists from Russia, Vietnam, Venezuela, Ukraine and Argentina.
Argentinean media applauds Vietnam’s economic achievements
Argentina’s Equilibrium Global has recently published online an article lauding economic achievements Vietnam has recorded after more than 30 years of reform. 
The article, by Prof. Dr. Julio Sevares from the University of Buenos Aires, said thanks to the reform policy, Vietnam’s economy grew more than 6.5 percent annually in the last 15 years, and its average GDP per capita expanded nine fold to nearly 2,200 USD in 2016. 
Julio Sevares cited the World Bank (WB)’s statistics as saying that up to 94.3 percent of Vietnamese people can read and write, with life expectancy at 72 years and unemployment rate at 3.7 percent. 
The country’s poverty rate dropped from 58 percent in 2003 to 12 percent last year, he said, adding that within two decades, 25 million Vietnamese escaped from poverty. 
According to the United Nations (UN), Vietnam is one of the most successful countries in economic development, and one of the very few nations that have fulfilled the Millennium Development Goals (MDGs) ahead of schedule set by the UN, the article said. 
The country aims to raise its per capita income to 3,200-3,500 USD during 2016-2020. 
Vietnam’s economic development model focuses on export and investment, mainly the export of raw materials and the development of labour-intensive industries. At the same time, the country targets high value-added sectors like software. 
The article said Vietnam’s export revenue tripled during 1995-2017 and the country is now the world’s 47th largest exporter with annual growth rate at 16 percent. 
The Vietnamese Government is making every effort to push reform of laws relating to tax, customs and investment aiming to encourage private investment, it noted. 
Julio Sevares also commented on trade ties between Vietnam and Argentina, which have developed rapidly over the recent years. 
Vietnam is the fourth largest export market of Argentina, after Brazil, China and the US, he said, citing a report released by Argentina’s National Institute of Statistics and Censuses showing that Argentina’s export to Vietnam in 2016 hit 2.54 billion USD, making up 4 percent of the South American country’s total export value. 
Corn and soybean account for 70 percent of the Argentinean shipments to Vietnam. 
Export values of Argentina’s non-traditional items to Vietnam like biological and pharmaceutical products and optimal devices increased sharply in recent years. 
Meanwhile, Argentina’s import from Vietnam stood at 350 USD, mainly electronic products, footwear and clothing. 
Argentinean experts said that with a population of more than 90 million, Vietnam remains a promising market for Argentina’s beef, poultry meat, wine, milk and fruit. 
Argentina can cooperate with Vietnam in aquaculture in which the Southeast Asian nation has experience, the article said.-
HCM City: Book Street to spotlight Russian publications
A Russian book event will run at the Ho Chi Minh City Book Street from November 1 to 8, aiming to celebrate the October Revolution.
It will feature two talk-shows on books about the revolution and Russian literature, scheduled for November 1 and 5.
In the morning of November 4, the children's fantastic novel Doctor Aybolit by Korney Chukovsky will take stage. The play will be performed by primary pupils from District 1.
The morning of November 6 is earmarked for the introduction and performance of Russian songs by renowned musician The Hien.
Throughout the course of the event, there will be an exhibition featuring 200 Russian books, many of them have been familiar with Vietnamese readers in the 1970s – 1980s.
Photos highlight Vietnam-Algeria diplomatic ties
A photo exhibition highlighting the diplomatic relations between Vietnam and Algeria over the past 55 years were showcased in Hanoi on October 30.
The event was jointly held by the Embassy of Algeria in Vietnam, the Vietnam-Algeria Friendship Association, and the University of Social Sciences and Humanities.
Algerian Ambassador to Vietnam Mohamed Berrah said the two countries established diplomatic ties in October 1962. After Algeria gained independence in 1962, Vietnam opened its embassy in Alger capital. Over the past half century, the bilateral relations have been developing across the board, including politics.
The two nations share a common vision on international relations built on peace, stability and security while settling disputes via peaceful means without intervening internal affairs and using forces in addition to respecting the national sovereignty and territorial integrity and supporting national self-determination, he added.
He noted that the two sides have cooperative relations in various fields. The economic partnership has a lot of prospects, notably the joint oil and gas mining projects in Algeria. 
The Ambassador said he was impressed by Vietnam’s achievements and efforts in diversifying the economy, attracting foreign investment, and integrating into global trade.
Vietnam’s integration will continue to be reinforced given increasing free trade agreements, he added.
The event also screened the “Lotus” movie – a joint product of Vietnam and Algeria.       
Embankments in Yên Bái need urgent repair
Nearly 10,900 metres of flood-prevention embankments damaged by the historic floods this month in the mountainous province of Yên Bái need to be repaired, said local authorities. 
The damaged embankments are mostly located along streams with nearly 30 landslide areas. Nghĩa Lộ Town has 6,630 metres of damaged embankments, while Văn Chấn District has nearly 3,000 metres and Trạm Tấu District has 950 metres.
The Hà Thị Khuyên family, residing in Phai Lò Village, Hạnh Sơn Commune, Văn Chấn District, is one of the nine households in the village isolated by land erosion. A 200-metre embankment and a concrete road in the village were washed away after the floods. 
“We had to move our property and cattle to a safe place and only come back home after the water receded. I hope the State will support us in rebuilding the road or help us move to a new residential area,” Khuyên said. 
Phai Lò embankment also suffered damage after the floods in 2016. 
In the two major floods in 2016 and 2017, 1.2km of the embankment was damaged. Hundreds of metres of the concrete road running along Thia stream were washed away. 
Lò Văn Hó, chairman of Hạnh Sơn Commune’s People’s Committee, said that seven houses in the commune were washed away after the floods. Nearly 4,000sq.m of rice paddy fields, 9ha of corn fields and 1,200 metres of canals were destroyed. 
If the infrastructure is not rebuilt, hundreds of households in Hạnh Sơn Commune, Văn Chấn District, and Nghĩa An Commune, Nghĩa Lộ Town, will be prone to risks during floods, he said. 
Lò Thị Huân, secretary of Nghĩa Lộ Town’s Party Committee, said, “The devastation caused by the floods this month was substantial. The province is willing to receive a budget to repair the damaged embankments to ensure the safety of locals and agricultural land area along the streams.” 
Trần Thế Hùng, director of the provincial Department of Agriculture and Rural Development, said that the provincial budget on repairing damaged embankments is limited, proposing that the Ggovernment support the province with funds. 
Vietnamese Buddhism introduced in Africa
The Việt Nam Buddhist Sangha (VBS) Central Committee has recently held a grand ceremony in Maputo, Mozambique, to make public the Việt Nam Buddhist Association (VBA) and launch the plan to establish a Vietnamese Buddhist Centre in Mozambique, also the first of its kind in Africa. 
Addressing the event, Most Venerable Thích Đức Thiện, General Secretary of the VBS Executive Council, spoke highly of Mozambique’s licensing of the VBA and expressed his hope that the association will contribute to strengthening solidarity among the Vietnamese community in the country, and consolidating friendship between the two nations. 
He said the VBS will build a Vietnamese Cultural Centre covering more than four hectares in Mozambique, with a pagoda in the centre. 
Arao Litsuri, a representative from the Mozambican Government, expressed his hope that Vietnamese Buddhist followers will introduce Vietnamese culture to local people and contribute to charity activities and poverty reduction in the country. 
On this occasion, the VBS presented 300 schoolbags to poor students in Mozambique’s mountainous province of Tete via the Mozambican Ministry of Education and Culture.
Coal-carrying vessel’s crew members rescued in Nghệ An
All 12 crew members onboard a sinking, coal-carrying vessel were rescued by Nghệ An Province functional forces on Monday.
The Hồng Anh 69 vessel, owned by Quảng Ninh Province-based Hồng Gia Trading and Service JSC, was carrying 4,600 tonnes of coal to Nghệ An Province’s Cửa Lò Port. As the vessel was two nautical miles away from the port, water overflowed into its cargo holds.
The captain immediately signaled for help, but because of the enormous waves, the vessel overturned and 12 crew members fell into the sea.
Receiving the SOS, Việt Nam Marinetime Search and Rescue Coordination Centre (VMSRCC) sent its marinetime rescue vessel, SAR 273, to the area. Simultaneously, Nghệ An Province Borderslands Security, Cửa Lò Port Border Guards, Cửa Lò Port Administration and other ships collaborated in the search and rescue operations.
After a few hours, on Monday afternoon, the SAR 273 rescued all the members of the crew.
The same day, a squid fishing vessel sank when attempting to shelter from bad weather near Song Tử Tây Island of the Trường Sa (Spratly) archipelago. One fisherman died and one remains missing.
Phạm Văn Châu, vice chairman of Tam Giang Commune’s People’s Committee of Núi Thành District in Quảng Nam Province, said there were 36 aboard the vessel when the accident happened. 
Lương Tấn Sỹ, the owner of the vessel, is currently missing. Another crew member was pronounced dead when brought to land. The border guard force of Song Tử Tây Island was able to rescue the other 34 people.
Clam shells, glass found in compost
Clam shells and glass pieces were found in 34 tonnes of compost sold to farmers in Đắk R’Lấp District, Đắk Nông Province.
The information was revealed by the Inspectorate of Đắk Nông Province’s Department of Agriculture and Rural Development.
The 34 tonnes of compost, reported to contain clam shells and glass pieces, were tested by the provincial Department of Agriculture and Rural Development twice.
The department initially concluded the compost’s ingredients do not meet quality standards as registered on the product’s packaging.
However, the second test revealed that the products met the standard. The department then concluded that the compost, coded BM001 manufactured by Vietstar, is qualified in terms of ingredients stated on the packaging.
“The compost was produced from unclassified domestic garbage of HCM City. The impurities cannot be totally eliminated in spite of several processes such as classifying, crushing and selecting,” the department said.
In June 2017, farmer Nguyễn Thế Vinh bought 20 packages of compost branded BM001, with each package containing 50kg, manufactured by Vietstar Joint Stock Company, based in HCM City, and distributed by Nam Long Company, based in Vĩnh Long City.
After using the compost to fertilise 800 pepper trees, Vinh found clam shells, broken glass pieces and other abnormally large impurities in the compost content.
The compost was also sold to two other local farmers.
Vietstar blamed the clam shells and glass pieces on technical failures due to holes in the impurity filter nets.
The three farmers who bought the compost have been compensated 50 per cent of the product value.
The department asked Vietstar to carefully inspect its manufacturing process and technology to eliminate most impurities in the compost before selling in the market to avoid a similar incident.
A leading official of the department said there is no regulation on how to fine companies manufacturing compost containing impurities, therefore no penalty was imposed on Vietstar.
According to the investigation, plants fertilised with this compost grow normally. There is no evidence to conclude the impact of compost on the trees. 
Health insurance abuse becomes common
Việt Nam Social Security recorded some 13,100 patients undergoing check-ups more than 50 times, with the total cost of VNĐ645 billion (US$28.3 million) paid by its health insurance fund, in the first 10 months of 2017.
Besides some special cases, the data showed abnormal signs in health insurance participation.
Dương Đức Tuấn, director of the Northern Centre for Health Insurance and Multidisciplinary Payment, said health insurance abuse by undergoing several check-ups at different hospitals was getting popular, increasing the medical service cost and create negative consequences for the health insurance fund.
He cited the example of 53-year-old M.B.N. from HCM City’s District 12. From January to October 23, 2017, the patient underwent 231 medical examinations at more than 10 different hospitals, with the cost of VNĐ129 million ($5,680) covered by the health insurance fund.
“She went to hospital almost everyday. On some days, she had 2-3 check-ups at different hospitals,” Tuấn added.
M.B.N’s medical expenses are fully funded by social security. However, she is not the sole case as the inspection system found several other patients undergoing up to 200 check-ups in 10 months.
“Some people consider undergoing check-ups paid by the health insurance fund their “job.” We are conducting investigations into these cases,” Tuấn said.
In September, a patient in HCM City had to pay back VNĐ9 million ($400) to HCM City Social Security for abusing the health insurance fund.
Nearly VND2.8 billion scholarships for impoverished students
The Ho Chi Minh Communist Youth Union (HCMYU) and Canon Vietnam Co., Ltd have held a ceremony in Hanoi to present scholarships to underprivileged students and pupils who have kept excellent academic records for the 2017-2018 school year.
Each scholarship for students is VND24 million, and for pupils is VND16.2 million. Recipients of the scholarship for the 2017-2018 academic year can continue to receive funding for the following years if they maintain a good level of study.
This is the fourth year such scholarships have been granted to outstanding students and pupils. Nearly VND2.8 billion worth of grants has been presented to 61 university students and 43 pupils so far.
After the selection council chose 10 outstanding pupils and 21 students to receive scholarships for the 2017-2018 academic year, representatives from the HCMYU, Canon Vietnam, and the Ministry of Education and Training made fact-finding tours of Hai Duong, Ben Tre, Khanh Hoa, and Ho Chi Minh City, where they met the scholarship recipients to check their progress and encourage them in their studies.
Long Van accompanies DevFest 2017 in Danang
Long Van Solutions System JSC became the golden sponsor for DevFest 2017, which will be organised by Google Developer Group Mien Trung (GDG Mien Trung) in Danang on November 17-19, 2017.
“By barticipating in the community activities at DevFest, Long Van wants to stimulate more young people to select science and technology to study and consider it as a basis to develop their careers, contributing to Vietnam's strong growth in the future,” said Nguyen Huu Ru, general director of Long Van.
DevFest is the festival for the developer community, featuring numerous highly-anticipated events, such as a conference, training programmes, condelabs or Hackathon. DevFest events cover multiple product areas such as android, firebase, Google cloud platform, Google assistant, flutter, machine learning with tensor flow, and mobile web.
In 2017, GDG Mien Trung will host DevFest under the Hackathon form in Danang.
According to the plan, the Hackathon competition to be organised on November 17, is expected to attract 100-120 developers. Accordingly, individuals and representatives of groups will present their products within 60 seconds and then receive votes form the remaining members.
20 outstanding ideals will be selected to establish teams to implement their products within 24 hours from November 18-19. Then between 10-12 best teams will be selected to present their products for the board of examiners and the 600-strong panel of technology lovers on the Demoday. Moreover, many experts will come and share their experiences in the field of technology.
According to Nguyen Thi Phuong Nhi, founder of GDG Mien Trung and representative of the board of organisers of GDG DevFest Mien Trung 2017, Hackathon is an ideal competition for developers and information technology students to train their team working skill, multi-dimensional thinking ability, and ability to provide objective feedback and to communicate with customers.
“The GDG DevFest Hackathon is not just a technology playground, but we also hope that the event will help younger people to improve their innovative thinking skills as well as the spirit of active connection, learning, and sharing,” Nhi added.
Partner to the world’s leading IT groups, namely VMware, NetApp, Cisco, Long Van specialises in developing IT infrastructure applications for cloud computing platforms. Long Van currently has more than 10,000 customers and it expects that the figure will be doubled within the next two years.
The company currently supplies a variety of services, including private cloud, cloud datacenter, cloud server, cloud desktop, and cloud backup, for its close partners that include University of Economics Ho Chi Minh City, National Hospital of Tropical Diseases, ILA Educational Organisation, Apollo Education Organisation, HANET Electronics Vietnam Co., Ltd., and Anova Pharma JSC, among others.
VNN
BUSINESS IN BRIEF 1/11

Foreign tourist arrivals hit over 1 million again

Kết quả hình ảnh cho khách du lich nước ngoài

International tourist arrivals to Vietnam exceeded 1 million again in October, an increase of 5 percent over September and 24.7 percent from the same period last year, according to the General Statistics Office.

It was the seventh month since the beginning of this year Vietnam has welcomed more than 1 million foreign visitors.

The highest growth was seen in travellers from Asia with 29.4 percent, followed by those from Africa (23.6 percent) and Oceania (20.7 percent).

More than 10.47 million foreigners have visited the country in the first 10 months of 2017, up 28.1 percent year-on-year with the biggest increase of 32.8 percent reported in Asian visitors. Tourists from the Republic of Korea rose by 53.9 percent, the highest jump during the period while Chinese came second with a surge of 45.6 percent.

The Vietnam National Administration of Tourism has made efforts to boost tourism since early this year. It has held promotion events in Australia, Japan, Thailand, Malaysia, Indonesia, Finland, Denmark, Norway, Sweden and more over the last three months. 

It also plans to use the APEC Economic Leaders’ Week 2017 as an opportunity to promote Vietnam’s beauty to international friends.

Vietnam aims for an increase of 30 percent in international tourist arrivals, or 13 million foreigners, in 2017.

Vietjet’s pre-tax profit hit 131 million USD in nine months

Vietjet Aviation Joint Stock Company (HOSE code: VJC) posted a pre-tax profit of more than 2.98 trillion VND (131 million USD) in the first nine months of this year, according its preliminary business results which were released last week.

In the third quarter, thanks to the expansion of new routes and operational improvements to existing routes, Vietjet’s revenue and profit increased significantly compared to the same period last year, and exceeded the company’s targets.

Vietjet’s pre-tax profit stood at over 1 trillion VND in the third quarter, up 35.1 percent year-on-year. Air transport revenue reached 6.14 trillion VND, an increase of 34.4 percent compared to the same period of 2016.

As of September 30, Vietjet’s total assets stood at above 26.28 trillion VND (1.15 billion USD), surging 57.4 percent year on year.

During the nine-month period, besides adding five additional airplanes, Vietjet launched 13 new routes, increasing the total number of routes to 73, including 38 domestic routes and 35 international ones. Notably, Vietjet’s on-time performance ratio in the nine-month period was 85.4 percent.

In the fourth quarter, the company is expected to open six new routes, raising the total number of new routes this year to 19.

Based on the current business results, the firm estimated its pre-tax profit in 2017 could exceed the target, approved at the annual shareholder meeting, by 10 percent.

VN goods shown at HK fashion fair
   
An increasing number of overseas buyers are sourcing products from Viet Nam as the country is rapidly improving its supply chain for locally made garments and taking part in more free trade agreements.

The availability of a young, skilled labour force is also attracting foreign buyers to the country, Pham Thiet Hoa, director of the HCM City Investment and Trade Promotion Centre (ITPC), said during a recent interview with Viet Nam News.

Hoa spoke on the occasion of the business-to-business fashion trade show which opened on October 27 in Hong Kong, showcasing quality garments, textiles, and products and services from fashion-related industries.

As many as 27 leading Vietnamese manufacturers of garments, textiles, fashion accessories and garment-related industries are showing their products at the Global Sources Fashion Show, which will run until the end of the month.

ITPC is supporting most of the Vietnamese pavilions as part of its mission is to help HCM City businesses and attract foreign investment to Viet Nam.

“Viet Nam has become a more attractive complementary garment sourcing destination for overseas buyers. We’re seeing an increasing number of multinational firms from Taiwan, Hong Kong and Singapore making not only completed finished clothes, but also buying fabrics, textiles, yarns, plastics, printing and other accessories,” Hoa said. “They’re looking to expand their production capacity in Viet Nam and are shifting their production bases to Viet Nam to enjoy tax incentives and other advantages.”

Before the show, ITPC worked with Global Sources, a Hong Kong-based B2B media company, to provide effective B2B export marketing workshops to help increase professionalism and buyer-supplier communication among firms.

Vu Ngoc Khiem, chief representative of Global Sources, said: “In collaboration with ITPC, we have created a one-stop shop sourcing platform, for yarns and fabrics to completed clothes, from labels and tags and interlining fabrics to textiles and fashion bags, hats, caps and jewelry, so that buyers can meet businesses offline.”

Vietnamese exhibitors have improved their manufacturing capabilities and expanded markets, finding new business buyers and growing exports, according to Khiem.

Vietnamese-made garments can be alternatives to Chinese suppliers, he said, adding that competitive price points were also important.

“The idea of our show is to help our buyers get in front of Viet Nam’s top-quality export manufacturers at one trade-show floor where decision-makers can meet and negotiate trade possibilities.

“We’ve seen a trend where many export orders are shifting to Viet Nam not only because China is heading toward more sophisticated higher-value manufacturing industries but also because Vietnamese makers have stepped up to a new level of FOB export capabilities, and are more ready to compete with rivals via differentiation and excellent services, not just cost advantages anymore,” Khiem told Viet Nam News.

Many of Viet Nam’s products will be featured during the fashion parade and at the New Market Pavilion, according to Khiem.

Analysy’s Choice, the trusted column viewed and evaluated by top buyers, designers and sourcing professionals, has also taken note of many of these products, he added.

Pham Minh Huong, director of the Viet Nam National Textile and Garment Group (Vinatex), said: “This is the third B2B tradeshow that Vinatex has exhibited with Global Sources. Vinatex aims to show buyers our wide range of production scale from small to mass production, and our one-stop sourcing house for buyers, from woven to knit items, with our developing ODM services.”

“Our capability of supplying materials in a vertical integrated system impresses buyers,” she said. “Not only is this a good opportunity for us to collaborate with new buyers and see global trends, but it is a chance for buyers to learn about our group and other professional manufacturers from Viet Nam at one convenient offline event. We met several buyers face-to-face before the show and we will meet them again to further our discussion in the pipeline.”

The four-day tradeshow will host 1,800 booths of accessories, fabrics and apparel from Viet Nam, China, South Korea, India and the Philippines.

The event is expected to welcome more than 12,000 buyers from 150 countries and territories, including the US, the EU, Hong Kong and Japan, among others.

The on-site Fashion Parade features many products made in Viet Nam, including totes, bags and jewelry. The show offers a unique one-stop shop theme where buyers can discover Vietnamese manufacturers offering all kinds of garments, textiles, labels, bra cups and fashion accessories.

Other highlights include conference programmes, fashion parades and the Trends Forum, presented by Fashion Snoops and Pantone.

Global Sources is a B2B media company and a primary facilitator of global trade using its integrated online and offline services. In Viet Nam, Global Sources helps match buyers and suppliers through offline events.

City seeks help from private sector to achieve sustainable development goals
   
Startups and private enterprises in the country should work with local authorities on ways to achieve the UN’s Sustainable Development Goals (SDGs), Pham Hong Quat, director of the National Agency for Technology Entrepreneurship and Commercialisation Development, said on Friday.

Speaking at an international Social Innovation Summit, Quat said that in HCM City the private sector could help build a smart, friendly city that would benefit its residents.

Do Nam Trung, head of the Division of Technology Management and Markets under the city Department of Science and Technology, said the city had provided incentives such as facilities and capital to startups in innovative, creative industries.

“The city has provided funds to develop business incubators, which have services for startups,” Trung added.

Caitlin Weisen, country director of United Nations Development Programme (UNDP) Viet Nam, said that in May the Prime Minister signed a National SDG (Sustainable Development Goals) Action Plan, which identified a key role for the private sector in achieving the SDGs and the 2030 Agenda.

“The idea behind SDG Entrepreneurship is for ambitious and creative entrepreneurs to look at the Global Goals as an opportunity to frame your business innovations,” she said.

The intention is to create a win-win combination where sustainable businesses generate profits while delivering social and environmental benefits that contribute to achieving the SDG Goals, according to Weisen.

Quat said that startups should be innovative in operation and development, contributing to local sustainable growth.

Startups with a business model that can help solve public challenges would attract more capital from investment funds, he added.

Startups should cooperate to build an ecosystem for sustainable startups, and connect with other enterprises and foreign companies to take part in global value chains, Quat said.

Nguyen Thi Hong Minh, chairwoman of Boar, Traceability Solutions and Services Joint-Stock Co, said that enterprises in the country were loosely connected and should strive to work more closely to build brand names and markets so they can compete globally.

The summit was held at HATCH!FAIR, the international technology startup exhibition and entrepreneurship conference, in HCM City on October 27-28 by HATCH!PROGRAM, a nonprofit Vietnamese initiative which connects the global startup ecosystem with Viet Nam.

At the exhibition, more than 100 businesses from technology and creative industries as well as community builders and support organisations showcased their products and services with the aim of engaging networks of customers, partners and investors.

Match-making activities in the HATCH!FAIR act as a bridge to bring business leads to angel and institutional investors and potential early-stage companies.

HATCH!FAIR is part of HCM City Innovation, Startup and Entrepreneurship Week (WHISE 2017) held from October 23-28. The aim is to showcase and promote innovation, startups and entrepreneurship throughout the city.

WHISE 2017 also featured technology exhibitions and an innovation and startup conference held yesterday by the HCM City People’s Committee in co-operation with the Embassy of Finland in Viet Nam.

Speaking at the launch ceremony, Le Thanh Liem, vice chairman of the city People’s Committee, said: “The city’s model of sustainable development is primarily concerned with green growth and the knowledge economy, based on innovation, technology and start-up businesses.”

Ten-month FDI grows 37% to $28 billion
   
Some US$28.24 billion in foreign direct investment (FDI) was poured into Viet Nam between January and October, representing a year-on-year increase of 37.4 per cent.

This was stated by the Foreign Investment Agency under the Ministry of Planning and Investment. Of the figure, $16.3 billion was put into 2,070 new projects (up 32.9 per cent), $7.27 billion (up 35.9 per cent), into 1,001 operational projects that required additional investment capital and $4.67 billion into 4,156 capital contribution and share purchase projects.

Foreign investment was concentrated in 19 fields, with the processing and manufacturing industry ranking first with $13.75 billion, accounting for 48.7 per cent of total investment. Electricity production and distribution came second with $5.63 billion, followed by real estate with $2.04 billion.

As of October 20, FDI projects disbursed $14.2 billion, 11.8 per cent higher than the same period last year.

Exports of FDI firms (including crude oil) reached $125.49 billion, posting an increase of 22.1 per cent from the corresponding period last year and accounting for 7.2 per cent of total export turnover.

Their imports rose 29.2 per cent to $107.85 billion, accounting for 62.5 per cent of the country’s total import turnover. In the first 10 months of the year, the FDI sector saw a trade surplus of $17.63 billion including crude oil and $15.24 billion excluding crude oil.

With $7.62 billion, South Korea continued to be the largest investor among the 112 countries and territories investing in Viet Nam, making up 27 per cent of total FDI, followed by Japan which invested $6.07 billion, or 21.5 per cent of total FDI, and Singapore with $5.59 billion.

Foreign businesses provided capital to 59 provinces and cities nationwide. HCM City took the lead in FDI attraction with $5.03 billion, followed by Bac Ninh at $3.19 billion and Thanh Hoa at $3.16 billion.

Some large projects were given investment licences in the January-October period, such as Nghi Son 2 BOT Thermo-power Plant with $2.79 billion investment in Thanh Hoa Province, Samsung Display Viet Nam project in Bac Ninh Province that added $2.5 billion and Nam Dinh 1 BOT Thermo-power Plant with $2.07 billion investment. — VNS

Vietnam-China fair – promotion chance for Quang Ninh farm produce

The upcoming 2017 Vietnam-China International Trade and Tourism Fair, to be held in Mong Cai city, is believed to be a golden opportunity for agricultural producers of the northern province of Quang Ninh.

The fair is scheduled to take place at the square of the communications-culture centre in Hoa Lac ward of Mong Cai city from December 1 to 7. It will feature more than 400 booths, including some 300 booths of organisations, businesses and individuals of Vietnam, Thailand and Laos and 120 others of Chinese firms.

It will showcase major products such as fruit, agro-forestry-fishery products, machinery, electronic devices, handicrafts, and wood products.

Aside from introducing goods that Vietnam and Quang Ninh province have exported to China, the event is a platform to popularise local potential for trade, investment and tourism.

A new activity for this year’s event is displaying speciality fruit and agricultural and seafood products of both Vietnam and China. Many booths will also introduce commodities made under the “One village, one product” programme in Vietnam.

Along with an investment, trade and tourism promotion conference, a forum will be held to promote the trade of fruit and agricultural products through Vietnam’s Mong Cai and China’s Dongxing border gates, thus connecting Vietnamese and Chinese companies.

Other activities will include a street festival in Tran Phu ward and a workshop promoting a free trade area in Vietnam-China border regions.

The 2017 Vietnam-China International Trade and Tourism Fair, part of Vietnam’s national trade promotion programme, is the 12th of its kind held annually on a rotational basis between Mong Cai and Dongxing cities.

The fairs have helped expand export markets, connectivity and win-win cooperation, contributing to the two countries’ trade, investment and tourism ties.

This year’s event follows the inauguration of Bac Luan 2 Bridge, the second bridge linking Mong Cai and Dongxing, on September 13 and the installation of the last segment of a floating bridge connecting these cities in October. The floating bridge is part of the infrastructure of Mong Cai – Dongxing border gates, which were designated as ports of entry for trading fruit, agricultural products, seafood and wood products between the two countries.

Earlier, Mong Cai authorities held a trade promotion conference including more than 100 businesses in Nanning city of China’s Quangxi province in September. A similar meeting with the same number of firms took place in Ha Long city of Quang Ninh a month later.

Mong Cai city plans to hold two conferences promoting fruit and agricultural and fishery products trade in the Mekong Delta province of An Giang on October 30 and the central province of Binh Thuan in November.

Quang Ninh is a coastal province in the northeast of Vietnam. It shares a 132.8km land border with Fangcheng district and Dongxing city of China’s Guangxi province.

China is currently Vietnam’s top trade partner while Vietnam is China’s biggest partner in ASEAN and the ninth biggest in the world.

Vietnam’s statistics showed that bilateral trade reached 71.9 billion USD in 2016, up 7.9 percent over the previous year. The country’s trade deficit with China fell 13.67 percent year on year.

By the end of August 2017, trade between the two countries had hit 55.2 billion USD, up 23.59 percent from a year earlier, with Vietnam running a deficit of 17.7 billion USD, down 5.76 percent.

Phu Quoc moves towards smart city status

The first phase of a project to build a digital network infrastructure that will help Phu Quoc Island become a smart city has been completed, the Vietnam Post and Telecommunications Corporation (VNPT) has announced.

VNPT General Director Pham Duc Long said the corporation has completed a project upgrading e-government software, installing cameras at designated points to manage security.

It has also finished installing wireless broadcasting equipment in tourist sites under the Smart Wifi project, deploying accommodation management software for hotels and guest houses.

The e-government system has linked administrations from the commune to the provincial level, helping people and enterprises in the district complete administrative procedures online to get licences or register their businesses.

"Soon, each resident have a unique electronic account to deal with governments at all levels," Long said.

Four air monitoring stations and one water source observation station have been deployed in the island district. The environment monitoring system will collect, process, analyse and deliver real-time data to alert users on air and water contamination, and provide recommendations on how to respond.

The VNPT also has built a safe city solution with many mobile applications that will help people report incidents (accidents, theft, acts of violating urban security) to management agencies and also help the latter respond quickly.

To manage and operate the above-mentioned systems, Phu Quoc has built a centralised operation centre tasked with receiving complaints from citizens, visitors and organisations; improving traffic safety, co-ordinating emergency responses and performing other important functions.

“I am confident that the operation of centralised centre will make an important contribution to enhancing the district’s management efficiency as well as the quality of service provided to people and businesses. This, in turn, will contribute to delivering convenience, comfort and safety to visitors who come to Phu Quoc,” Long said.

Applauding VNPT’s efforts in helping building a smart city, Mai Văn Huynh, Vice Chairman of the Kien Giang People’s Committee, called for concerted efforts to ensure that the project is completed in time.

The corporation has announced that in the project’s second phase, it would implement highly sophisticated platform systems like the Internet of Things.

The 67 billion VND (2.9 million USD) project to make Phu Quoc a smart city by 2020 was approved by the province Kien Giang People’s Committee in April this year.

Phu Quoc is Vietnam’s largest island, covering an area of nearly 600 square kilometers with a population of over 100,000 people.   

Soc Trang to feature macaques as tourist draw

The Mekong Delta province of Soc Trang aims to preserve 350 long-tailed macaques monkeys living in a mangrove forest and develop eco-tourism as part of its tourism development plan by 2020.

Cu Lao Dung district has about 350 long-tailed macaques living in the natural mangrove forest of nearly 1,640 ha in An Thanh Nam commune.

Le Minh Duong, Vice Chairman of the district’s People’s Committee, said the plan would not only help protect the macaques and the biodiversity of the forest, but also support for developing ecological tourism in the district.

The natural mangrove forest is located on An Thanh Nam Island, which has a diversified biodiversity with thousands of animals and plants giving a great potential for eco-tourism development, he said.

The district has tasked the commune authority to collaborate with security guards, ranger forests and relevant agencies to manage and monitor the prevention of illegal hunting of macaques.

The district also plans to improve infrastructure and promote some typical local products to attract tourists, according to Duong.

According to Tran Minh Ly, Director of the province’s Department of Culture, Sports and Tourism, the macaques often climb to the trees in the forest when water levels rise and go down to the ground to find food when the tide recedes. This behavior is a unique feature for tourism development.

In addition, the provincial People’s Committee has given approval to the district to develop a 300 ha eco-tourism fruit garden.

Luong Minh Quyet, Director of the province’s Department of Agriculture and Rural Development, said the department had supported providing nutrition foods for the macaques to ensure their health and growth, and help them become friendly with people.

The department was wrapping up a plan to build an area for the macaques to develop them into a unique tourism product for the province, he said.-

Vietnam earns nearly 210 mln USD in October fruit, vegetable exports

Exports of fruits and vegetables in October are estimated to reach 209 million USD, raising total export value of the products to 2.84 billion USD in the first 10 months of this year, up 41.2 percent over the same period of 2016.

According to the Ministry of Agriculture and Rural Development (MARD), China, Japan, the US and the Republic of Korea were the leading markets of Vietnam. Meanwhile, the highest growth was seen in the Japanese market with 66.1 percent, the UAE was second at 58 percent and growth in China hit 53.1 percent.

The ministry also reported that imports of the products were 96 million USD in October and 1.25 billion USD in the first 10 months of 2017, surging 70.8 percent year on year.

The ministry said that the fluctuation in vegetable and fruit market was due to complicated weather developments that changed both supply and demand.

Notably, heavy rains in the month destroyed a lot of crops, almost doubling vegetable prices.

Cooler weather in central and northern regions also lowered fresh coconut prices in Ben Tre province from 80,000 VND per dozen to under 60,000 VND per dozen.

A shortage in fruits in the north also led to high prices of longan and dragon fruit, added the MARD.

Hoa Sen opens largest plant in central region

Hoa Sen Group commenced the second phase of Hoa Sen Nhon Hoi Factory, located in Nhon Hoi Economic Zone in the central province of Binh Dinh’s Quy Nhon city on October 29.

The Hoa Sen Nhon Hoi Factory is the group’s 11th plant and largest one in the central region, which was built on an area of 21.3ha with a total investment of 2 trillion VND.

The second phase of the plant includes five production lines, namely, a galvanising line with a capacity of 250,000 tonnes per year; a cold rolling line, having a capacity of 350,000 tonnes per year; a pickling line with 800,000 tonnes per year; colour-coated line with 150,000 tonnes per year; and an acid recycling line of 5,000 litres per hour.

It is expected that the second phase will be completed by the end of 2018, which will create jobs for 1,000 workers.

On the same day, the Hoa Sen Group also inaugurated the first phase of the factory, which has been completed with three main lines — galvanising line with a capacity of 180,000 tonnes per year, colour-coating line with a capacity of 45,000 tonnes per year, and a slitting line with a designed capacity of 100,000 tonnes per year.

Hoa Sen Group Chairman Le Phuoc Vu said that Hoa Sen Nhon Hoi would meet the needs of the central and central highlands provinces, as well as export to Laos, Cambodia, Thailand, Europe and America.

Chairman of the provincial Binh Dinh People’s Committee Ho Quoc Dung highly appreciated the process and the investment efficiency of the Hoa Sen Group in the province. This is the third project of this group in Binh Dinh.

Dung said he hoped the province would receive more investment from the group in the future.

The continuous expansion of the Hoa Sen Group’s recent production system has enabled its products to be available in more than 70 countries and territories.

In the fiscal year 2016-2017, Hoa Sen sold more than 1.66 million tonnes of products, of which 587,000 tonnes were exported, up 28 percent over the previous year.

The total turnover was 26 trillion VND, of which the export revenue was over 420 million USD.

For the 2017-2018 fiscal year, Hoa Sen is focusing on developing potential export markets, such as Europe, America and India.
   
Organic produce: Food for thought

As the concept of ‘good food, good life’ becomes more commonplace in Vietnam, consumers are paying more attention to what they consume on a daily basis.

ORFARM brings organic food to your table - Orfarm is opening its sixth store on November 4, in Syrena Tower at 51 Xuan Dieu, Tay Ho district, Hanoi, www.orfarm.com.vn

Choosing well-fed and happily-raised animals as well as properly cultivated vegetables not only improves one’s health, but by eating properly sourced food, one can reduce the impact they have on the environment and preserve the ecosystem for posterity.

Roughly 80 kilometres from Hanoi in the mountainous province of Hoa Binh lies an organic farm where pigs, chickens, and pigeons are raised in an ethical and sustainable manner.

The farm even has a playground that is designed for the chicken to get their daily exercise. Fresh vegetable gardens are found close by, with a number of seasonal varieties popping up in rows; without the use of harmful herbicides, insecticides, or other pesticides.

The farm is specifically developed and run using the Japanese application of effective micro-organism (EM) technology, by the Orfarm (Organic Farm) brand, aimed at creating greener and healthier living standards for both the current and next generations. EM in particular is a way of growing human-friendly and environmentally safe products by the EM Research Organisation, which uses beneficial micro-organisms such as lactic acid bacteria, yeast, and phototrophic bacteria in the agricultural production process.

As EM is applied during all phases of the farming process, from the breeding and raising of livestock to the planting and cultivation of vegetables, everything is highly controlled, from input to output. From farm to table, Orfarm products have no adverse effects on humans or the environment.

“We’re not creating value for ourselves, what we’re doing with our happy farm and animals is doing a good deed for the general community and the children of the future,” said Bui Bich Lien, president and CEO of Orfarm.

“So I have a question for food buyers in general: why aren’t you investing in your health or your quality of life right now, by picking quality food?” she asked.

At the end of the day, consumers make the choice. More and more, they are selecting quality organic products that come directly from a trusted farm.

As the popularity of organically-sourced food expands, more sustainable farming techniques will surely come into focus.

Can Tho builds bonds with firms from Japan

With financial strength, state-of-the-art technology, and management expertise, Japan is one of the important business partners capturing special attention from the Mekong Delta city of Can Tho for investment co-operation. Huu Phuc reports.

From late May until now, Chairman of the Can Tho People’s Committee Vo Thanh Thong has twice visited Japan’s Kansai prefecture for co-operation and investment promotion, accompanied by leaders of city-based state agencies and businesses.

The most recent visit came in mid-October, to Okayama and Wakayama provinces. According to director of the Can Tho Investment-Trade Promotion and Exhibition Centre Nguyen Khanh Tung, apart from meeting local government leaders and making field surveys at some Japanese businesses’ production workshops, the Can Tho business mission hosted two seminars for business networking, which attracted about 150 Japanese companies.

On this occasion, Can Tho leaders presented opportunities for investment co-operation in the city, and responded to issues the Japanese investors brought forth.

In particular, Thong highlighted several social and economic infrastructure projects which promise to be highly appealing to foreign investors.

In 2018, more flights are set to launch directly from Can Tho to other domestic and international destinations like Haiphong, Nha Trang, Bangkok, Singapore, and possibly to Japan’s Kansai International Airport.

A golf course and an international hospital are also slated for completion in late 2018, while Ho Chi Minh City-Can Tho Expressway is slated for completion by 2021.

Additionally, the investment proposal of Can Tho International University has been approved, and a high-end apartment project invested by the Can Tho Investment and Development Fund is awaiting investment from Japanese businesses.

After the visit, Can Tho and the city of Okayama signed a joint statement to push mutual co-operation in industry, agriculture, and tourism. In the meantime, Can Tho signed memoranda of understanding with four Japan-Vietnam friendship associations, laying the groundwork to deepen bilateral co-operative relations.

In an earlier trip to Japan in late May and early June, Can Tho and Japan’s Hyogo province signed a joint statement on co-operation where both sides vowed to facilitate trade development and investment promotion from Hyogo to Can Tho, and strengthen economic co-operation through increased trade, tourism, and human resource training.

In the past year, Can Tho has also received a number of Japanese government leaders and business missions searching for investment opportunities in high-tech agriculture, education and training, and environmental sustainability.

Infrastructure reforms steer growth in Thai Nguyen

To elicit domestic and foreign investment, the northeastern province of Thai Nguyen is expediting a raft of synchronous measures, including infrastructure reform, to grow its economy in a sustainable manner.

In recent years, Thai Nguyen has emphasised the development of technical and industrial park (IZ) infrastructure, positioning it as a vital tool to attract investment and drive the province’s urban, social, and economic development.

With respect to transport infrastructure, investment capital was put into building major roads with big impacts on provincial development. These projects included building the new National Highway 3 linking Hanoi to Thai Nguyen, upgrading former National Highway 3, the Thai Nguyen-Cho Moi (Bac Kan province) route, and the roads and urban complexes belonging to the Thai Nguyen city urban development project, to name but a few.

The projects have helped enhance connectivity between Thai Nguyen and Hanoi as well as other northern locations. As for IZ infrastructure, the province is currently home to six well-planned IZs covering 1,420 hectares, four of which have come into operation, scoring 170 investment projects, including 85 foreign-invested ones valued at more than $7 billion in total committed capital, and 85 domestic investment projects worth over VND12.8 trillion ($582 million).

The most eminent projects are run by South Korean tech giant Samsung Group and its satellite businesses. Province-based IZs enjoy a developed transport network and the availability of associated infrastructure, such as power, water supply, wastewater treatment, fire prevention, and security systems. Most of the planned IZs spread along new and former National Highway 3 (Yen Binh, Diem Thuy, Nam Pho Yen, Song Cong I, and Song Cong II IZs), as well as provincial routes, helping to ensure connectivity with technical and social infrastructure systems inside and outside province-based IZs.

“As a satellite unit to Samsung, after the tech giant landed their project in Thai Nguyen’s Yen Binh IZ, we studied the possibility of setting a foothold in the province. After the survey, our company has chosen to build a factory in Diem Thuy IZ due to its proximity to Yen Binh IZ and the new National Highway 3,” said Kim Byeong Hun, director of Dongsung Vina Limited based in Diem Thuy IZ in the province’s Phu Binh district.

Thai Nguyen has done a smart job ensuring province-based IZs have access to comprehensive infrastructure to facilitate their operations. For instance, an approach road linking Diem Thuy IZ to Yen Binh IZ and the new National Highway 3 was recently put into use, supporting goods transport of businesses based in Diem Thuy IZ to other destinations in the province and in Hanoi.

Regarding the energy system, the province has succeeded in attracting investors into building Cao Ngan and An Khanh thermal power plants, as well as large transformer stations at Yen Binh and Diem Thuy IZs to serve businesses and connect to the national power grid.

The information communications technology infrastructure has been developed robustly with the presence of thousands of base transceiver stations, while the optic cable network has now reached most residential areas in the province. The 4G network has also reached the province’s major areas.

The World Bank-funded Dynamic Cities Integrated Development project is expected to benefit Vietnam’s five cities and provinces, including Thai Nguyen. The project aims to boost the development of stakeholder localities, leveraging the application of urban

integrated solutions on infrastructure development and urban management.

The project component in Thai Nguyen has a total investment capital sum of $100 million. According to World Bank senior urban development expert Phan Thi Phuong Huyen, “Thai Nguyen is the locality scoring the most confidence with the World Bank in both project implementation and loan repayment capacity.”

As scheduled, after the project receives the Vietnamese government’s approval, the World Bank will evaluate the capital scheme in March 2018, paving the way for official implementation from July next year.

Huyen from the World Bank has suggested Thai Nguyen to concentrate on developing public transport, producing clean agricultural items, and exert better control over urban water drainage systems.

The project’s success will gear the city of Thai Nguyen’s urban infrastructure towards modern and sustainable development, matching the criteria required for a Grade 1 city’s technical infrastructure, while in the meantime propelling economic development through strategic infrastructure investment development.

The prime target is to turn  the city of Thai Nguyen into the centre of political, cultural, educational, healthcare, tourism, and services of both the province and northern Vietnam’s midland and mountainous region.

Navigos introduces first application for IT job seekers

topITworks, an online IT recruitment website of the Navigos Group, has just launched the first job search application in Vietnam for the IT community, available on both Android and iOS platforms.

The application integrates convenient job search features and at the same time includes information on career orientation for IT job seekers.
Up to 60 per cent of users use mobile devices to access the website, according to topITWorks’ latest survey. In order to provide the best experience to users, topITworks officially launched an online job search application on Android and iOS platforms, the first mobile application for the IT community. topITworks has over 1,500 jobs in the IT industry.
The new application integrates a search engine and filter based on programming language and salary range. Job alerts are emailed to users based on the “job skills” candidates wish to search for. It has a simplified application interface with a mobile-friendly design, and a jobs bulletin feature appears after accessing the application.
In particular, the mobile application is applying “learning machine” technology for the search and filter system. The application not only suggests jobs based on keywords but also studies users’ behaviors based on search history, suggesting the most appropriate jobs and making job searches faster and more convenient.
According to the Navigos Group, Vietnamese IT candidates are considered by recruiters to be hard working, smart, and quick learners. But there are also areas in need of improvement, such as a lack of clear career orientation, frequent job hopping, a lack of passion for their job and a lack of engagement with the company, and high requirements compared to capacity. They also tend to lack soft skills such as communication skills, problem solving skills, and English skills etc., which will affect promotions.
In order to solve these problems, topITworks is not just an IT job search portal but also develops “knowledge” that covers the experience of IT specialists, career orientation, and advice for IT candidates in interviews, etc. With new articles every day, topITworks is also a place for sharing information among those who wish to learn more about the industry.

Vietnamese startups grappling with Industry 4.0

The fourth industrial revolution (Industry 4.0) is an opportunity for underdeveloped countries to catch up with developed countries but it seems that Vietnamese enterprises, including startups, are largely out of the game, the “Digital Enterprises 2017: Digital Age and Startup country” forum heard.
Senior expert Henry Nguyen Huu Thai Hoa, Director of the CTS Center, disagreed with many thoughts that Vietnam will lead in Industry 4.0, because of its weak research and development (R&D).
“Vietnamese enterprises talk about mechanisms but don’t know how to apply digital technology at their companies,” he believes.
He also emphasized that if enterprise leaders do not change their thinking and apply new technologies, they will not develop.
Although Vietnamese enterprises have to cope with various challenges, they still have potential opportunities from Industry 4.0. Over the last five years, Vietnam has led in smartphone growth and internet penetration globally.
Industry 4.0 has changed Vietnam’s economy, politics, and society. Dr. Nguyen Van Nam, Director of the Research Institute for Brand and Competition Strategy, expects there will be a number of countries, including Vietnam, that apply digital technology to change their entire socioeconomic landscape.
“The leading force in Vietnam is enterprises and they will have to become digital enterprises, but they must reorganize and the government should have practical policies in support,” he said.
General Director of iBosses Vietnam, Tang Ngoc Truong An, said that Vietnamese enterprises have two challenges in their early days: programs and confidence. “They must respect global rules and information technology,” he said. “Knowledge is important for startups and Vietnamese need to learn how to start a business.”
It can be difficult for enterprises to begin using digital technology based on the experience of developed countries. Although the Vietnamese Government has a decree on digital technology development, success is based on the actions of enterprises.
Son La coffee geographical indication announced

The northwestern province of Son La has announced Son La coffee as a collective brand and held Mai Son Coffee Festival in Mai Son district, an occasion to promote local coffee products.

In the late 19th and early 20th centuries, French colonialists began planting coffee in Son La and other northern provinces, turning this region into an important producer of raw Arabica coffee for the French coffee industry of the time.

The coffee area in Son La has been expanded, concentrating in Mai Son and Thuan Chau districts and Son La city, especially since 1995 when the provincial People’s Committee approved a project to plant 3,000ha of coffee trees. The province considers Arabica coffee as a key plant for poverty reduction and economic development.

At the event on October 27, Chairman of the Mai Son district People’s Committee Tran Dac Thang said Son La is home to more than 12,000ha of coffee trees, 4,200ha or 34 percent of which are in Mai Son. The district harvests some 52,000 tonnes of coffee each year, earning 368 billion VND (16.2 million USD) in revenue.

Up to 80 percent of coffee beans made in Son La are exported to the US, Japan and some other countries, he noted, adding that the reputation of Son La’s Arabica coffee has improved, asserting the province as a major Arabica producing hub of Vietnam.

The same day, local coffee and agricultural products were introduced at the festival.

On this occasion, the construction of a coffee factory named Phuc Sinh Son La in Chieng Mung commune of Mai Son district was launched. It is expected to be complete in eight months at total cost of 48.6 billion VND (2.1 million USD).

HCM City to host farm produce fair
   
The Seventh Farm Produce Fair is scheduled to be held at the Go Vap Flower Village Park in Go Vap District from November 2-6.

The fair will have 145 booths set up by more than 81 exhibitors from 15 cities and provinces, including 93 booths from HCM City and the rest from Ben Tre, Long An, Tien Giang, Vinh Long and Binh Thuan.

It will have seven areas displaying works created from fruits, orchids, bonsai, processed farm produce, handicrafts and products made in traditional villages. Co-operatives’ products and services, wooden products, and food courses will also be offered.

A seminar on the role of farmers’associations in developing clean products and linkages for consumption of products will be held on the sidelines of the fair.

Organised by the HCM City Farmers Association and Department of Agriculture and Rural Development and Department of Industry and Trade, the event offers farmers a chance to promote trade of their products.

The fair is also a platform for farmers to exchange experiences, access new information and technologies in the agricultural sector, and develop linkages between farmers and distributors.

This year is the first year that the fair is being held twice in one year, with the first fair held in June.

HCM City to host international fair for mothers and kids
   
The Viet Nam International Maternity, Baby and Kids Fair (Viet Baby Fair 2017) will return to HCM City from November 2 to 4.

To be held at the Saigon Exhibition and Convention Centre in District 7, the fifth Viet Baby Fair 2017 will feature 314 booths from 186 exhibitors from 12 countries and territories, including South Korea, Australia and China.

A wide range of products and services for mothers and kids such as foods, toys, clothes, household utensils, cosmetics, health products and educational services will be displayed.

The fair has attracted well-known brands in nutrition, toys, fashion for mothers and kids, education, spa services and other goods and services, including Unicharm, Baby Plaza, Nestle, Lotte Mart, Viet Tinh Anh, SD Toy, Lullaby, GG Fashion, Albetta, Milky House, Kawaii Spa, Daekyo, Wall Street English, Global Arts and AIS.

Prenatal classes as well as seminars on healthcare, nutrition and early childhood education with Japanese style, among other topics, will be held during the fair.

The fair will also feature other activities, including games for children and the family, an area for children to read books and paint small statues, promotion programmes, and more than 10,000 entrance gifts to visitors.

Organised by Coex Viet Nam, SEGE Fairs Co. Ltd, Me&Con magazine, Webtretho forum and Vinexad, the fair offers consumers high-quality products and services at sharp discounts from famous local and foreign brands, while providing a platform for exhibitors to understand more about the market.

It is expected to welcome more than 28,000 visitors

HCM City economy remains on track: meeting

Foreign and domestic investment in HCM City has significantly increased and industrial production remains robust, a meeting to review the city’s socio-economic development in the first 10 months of this year on October 30 heard.

According to a report from the municipal People’s Committee, foreign investment doubled from the same period last year to 5 billion USD, including in some giant projects such as the smart complex (886 million USD) in the Thu Thiem Urban area and KNT Asia (215 million USD).

“Domestic investment has increased significantly with new investment and added capital at 3.4 times last year’s figure,” Vo Van Hoan, head of the city’s People’s Committee Office, told the meeting. Nearly 34,000 new companies with a combined capital of 717.6 trillion VND (32 billion USD) have been licensed.

The city’s revenues in the first 10 months increased by 11.1 percent to 278.5 trillion VND (12.4 billion USD), or 80 percent of the full-year target.

Job creation, vocational training and support for poor people have been done efficiently to ensure social welfare.

The number of jobs created rose marginally to 273,225, or 98 percent of the target.

Services and retail sales grew by 11.6 percent to 767 trillion VND (34.1 billion USD) and industrial output expanded by 7.75 percent.

The city’s four key industries -- engineering and automation; electronics; chemicals, rubber, plastics; and food processing -- continued to perform strongly, expanding markets, investing in technology and improving quality and competitiveness, growing at 12.7 percent.

Electricity supply grew by 4.9 percent to 19 billion kWh. The rate of electricity loss fell by 0.34 percentage points to 4.12 percent.

Exports were worth around 29.15 billion USD, an increase of 13.3 percent. Exports to some markets grew significantly, including to Singapore (86.3 percent), Myanmar (65.6 percent), India (35.5 percent), Malaysia (34.9 percent), Thailand (34 percent), and China (22.6 percent).

Exports of rubber increased by 32.6 percent and of computers and electronics, by 29.6 percent.

Imports cost 35.17 billion USD, an increase of 15.4 percent.

“Authorities have paid close attention to the environment, flooding and the traffic situation,” Hoan said.

“However, poor management and cumbersome administrative procedures are still very common in many areas.

“The city is working with relevant authorities to improve State management in all fields from now to the end of this year.”

The city’s economy had grown by 8 percent in the first three quarters of this year.

Canada initiates anti-dumping investigation into Vietnamese copper pipe fittings

The Canada Border Services Agency (CBSA) has announced that it will initiate anti-dumping and anti-subsidy investigations into copper pipe fittings imported from Vietnam.

The investigation was conducted following a complaint lodged by Cello Products based in Cambridge, Ontario. The investigation period is from January 1, 2016 to August 31, 2017.

December 4 will be the deadline for Vietnamese exporters and Government to send their answers to CBSA questions to the address: Canada Border Services Agency -Trade and Anti-dumping Programs Directorate SIMA Registry and Disclosure Unit 100 Metcalfe Street, 11th Floor Ottawa, Ontario, Canada-K1A 0L8-Tel. (for courier reference only): 613-948-4605-Fax: 613-948 4844-E-mail at: simaregistry-depotlmsi@cbsa-asfc.gc.ca).

CBSA will announce its preliminary conclusion on dumping prices and receiving subsidy on January 25 2018 and issue the final decision on April 25, 2018. Relevant agencies should send their arguments before the afternoon of March 19, 2018.

Vietnamese accelerator helps launch 11 startups

The second batch of startups from the Vietnam Innovative Startup Accelerator (VIISA) graduated on October 25 after three months of mentorship under prominent venture capitalists and entrepreneurs from the region.

The graduation ceremony for 11 startups was held at the Hard Rock Cafe in Ho Chi Minh City, and attended by more than 100 investors, corporate partners and mentors.

Over the last three months, the startups have worked hard to create products that fit market demands and prove that they have scalable, repeatable business models. The teams got to work closely with investors such as Spiral Ventures (Japan), and join office hours mentorship with the Startup Ecosystem team from Amazon Web Services and the CFO of Microsoft Vietnam, among others.

Dr Le Hoang Anh, chairman of VIISA and managing partner of Dragon Capital, said that VIISA had become surprisingly well-known in the region in a short space of time.

He said the launch of the different startups was a “testament” to the hard work and support from VIISA, government officials and corporate partners. “I am excited for the journey ahead.”

The 11 startups range from sales and advertisement platforms, food and delivery services to training a platform for jobseekers and an AI tool that reads emotions to convert texts into stickers. The teams are from Vietnam, Indonesia, South Korea and Ukraine.

Mr Sangyeop KANG, investment officer at Hanwha Investment, said the diversity of the new startups means the foreign teams have been able to expand their businesses in Vietnam while offering global insight to the Vietnamese companies.

VIISA has invested US$30,000 into each company and provided technical resources, office accommodation and access to more than 100 world class mentors and investors. Promising teams also get up to US$200,000 in follow-up funding.

Two startups from batch 1 secured funding on the same day. Wisepass raised US$400,000 in seed funding led by Expara Ventures, followed by $100,000 from VIISA, while Wefit raised a round of US$150,000 from ESP Capital and VIISA.

Mr Tran Huu Duc, CEO of VIISA, and Head of FPT Ventures, said that the second batch of startups has continued the momentum started by founding partners FPT, Dragon Capital and Hanwha, and batch three is highly anticipated.

Batch three will start their mentorship in January 2018 and interested entrepreneurs can start applying now.

VIISA will invest up to US$6 million into building global startups from Vietnam. It is a partnership of Dragon Capital, Hanoi-based telecommunications firm FPT and Hanwha Investment, together with commercial partners Asia Counsel, BIDV, Tam An Tax and CirCo Co-working Space.

Viettel construction subsidiary to list on UpCOM

Viettel Construction JSC, a subsidiary of Viettel Group, received permission to list 47.1 million shares on the Unlisted Public Company Market  (UpCOM), according to newswire Cafef.

The first transaction day will be October 31, 2017, with the reference price of VND26,000 ($1.14).

In April 2010, the company put 6.15 million shares on sale at its initial public offering (IPO) with the initial price of VND10,000 ($0.44) apiece. The entire share volume on offer was sold at the average price of VND14,484 ($0.65). The company started operations under the JSC model in June 2010 with the initial chartered capital of VND238 billion ($10.4 million), 72 per cent of which was owned by Viettel Group.

After five years, the company’s chartered capital increased to VND471 billion ($20.6 million). As of September 7, 2017, Viettel held a 73.2 per cent stake in the company.

Viettel Construction JSChas constructed the telecommunication infrastructure of Viettel Group with about 50,000 base transceiver stations (BTS) and about 140,000 kilometres of optical fiber in Vietnam, and Cambodia, Laos, Myanmar, Haiti, Peru, Mozambique, Cameroon, Burundi, and Tanzania, among others.

In recent years, the company reported consecutive increases in its revenue. Notably, it earned VND1.53 trillion in revenue and VND110 billion ($4.8 million) in after-tax profit in 2015 and the figures hit VND1.68 trillion ($73.7 million) and nearly VND100 billion ($4.4 million) in after-tax profit in 2016. In the first half of this year alone, it earned VND1.27 trillion ($55.7 million) in revenue and VND48.2 billion ($2.1 million) in after-tax profit.

As of late June, the company had total assets of VND1.96 trillion ($85.9 million) and VND634 billion ($28.2 million) of equity capital.

Leading Vietnamese real estate developer offers 311.2 million at IPO

Becamex IDC Corporation—one of Vietnam’s leading property developers—plans to put 311.2 million shares, equaling 23.6 per cent of its chartered capital, on sale at its initial public offering (IPO), which is expected to be organised on December 1.

The Ho Chi Minh Stock Exchange has announced Becamex IDC’s plan to conduct its IPO. Accordingly, Becamex IDC will offer 311.2 million shares at the initial price of VND31,000 ($1.36) apiece. The company expects to acquire VND9.65 trillion ($423.1 million) from the deal.

Along with the IPO, the company will also offer 329.25 million shares to strategic shareholders.

Afterwards, the state-owned holding will decrease to 51 per cent stake.

In recent time, the auctions of real estate developers’ share holdings have been luring in numerous investors, especially from overseas.

Notably, two outstanding deals include Viglacera Corporation JSC and Vietnam Urban and Industrial Zone Development Investment Corporation (Idico).

In late July, Viglacera conducted an auction of 30 million shares. 19 organisations and individuals joined the auction with the total registered shares numbering at 82.33 million, doubling the volume on offer. Foreign investors purchased 15.49 million shares, equaling 52 per cent of the offered shares.

At Idico’s IPO, the corporation put 55.3 million shares on sale. The event attracted the participation of 582 domestic individuals, 25 domestic organisations, 40 international organisations, and nine foreign individuals, with the total registered share volume of 269.82 million, five times as much as the offered volume.

Foreign investors succeeded in acquiring 41.35 million out of the 55.3 million offered shares, equaling 74.8 per cent.

IDICO earned VND1.32 trillion ($57.98 million) from the IPO, selling 55.3 million shares at the average buying price of VND23,940 ($1.05) apiece. The lowest winning bid was VND23,200 ($1.02) and the highest VND28,600 ($1.26).

According to the latest move, on October 31, Thanh Le General Import-Export Trading Corporation will conduct the public auction of 11.8 million shares, with the initial price of VND10,600 ($0.47) apiece. As of now, the registered shares are five times higher than the offered shares.

Back to Becamex IDC, it is known as a leading name in the development of industrial, residential, urban, and transportation infrastructure in Vietnam.

It currently has 28 subsidiaries and joint ventures in the areas of securities, finance, insurance, banking, construction, trading, real estate, services, telecommunication-information technology, concrete production, construction materials, mining, pharmaceuticals, healthcare, and education with a chartered capital of approximately  VND5.5 trillion ($242.1 million).
 
Vietcombank divestment from Saigonbank and CFC greenlighted

The State Securities Commission of Vietnam (SSC) has licensed Vietcombank to sell its shares at Saigon Bank for Industry and Trade (Saigonbank) and Cement Finance Company (CFC) in order to comply with central bank regulations.

The bank will auction 13.2 million shares (4.3 per cent stake) in Saigonbank at the initial price of VND12,550 ($0.55) and 6.6 million shares (10.91 per cent stake) in CFC at the initial price of VND11,549 ($0.51).

The bank’s spokesperson announced that the auctions will be held in November.

With these initial prices, the bank is forecast to collect VND165.66 billion ($7.29 million) from Saigonbank and VND76.22 billion ($3.35 million) from CFC.

Up to December 31, 2016, these two investments amounted to VND123.45 billion ($5.43 million) and VND70.95 billion ($3.12 million).The divestment scheme was part of the bank’s proposals at the annual general shareholders' meeting (AGM) in April 2017.

In the AGM, Nghiem Xuan Thanh, Vietcombank’s chairman of the board of directors, asserted that the low bidding price hindered the bank to carry out the disinvestment scheme at Saigonbank, CFC, and Oriental Commercial Joint Stock Bank (OCB).

Thanh also added that the bank is still in possession of stakes in five other credit institutions, in three of which Vietcombank’s stakes exceed the stipulated holding amount of 5 per cent.

Another issue brought up at the AGM was that a financial institution is not allowed to possess stakes in more than two credit institutions, which is the reason behind the divestment in Saigonbank and CFC.

As a follow-up of the disinvestment in Saigonbank and CFC, Vietcombank handed over a proposal to divest from Eximbank.

If successful, the proceeds from the divestment could reach VND700 billion ($30.814 million).

According to the latest financial report of Saigonbank, the bank witnessed a remarkable growth in financial performance in recent years.

In the first two quarters in 2017, the bank’s net profit reached VND128 billion ($5.63 million), and its chartered capital of VND3.080 trillion ($135.58 million).

CFC has a total chartered capital of VND650 billion ($28.613 million), with Vietnam Cement Industrial Corporation (VICEM) being the largest stakeholder (39 per cent). In the first two quarters of 2017 the bank earned an accumulated net profit of VND5 billion.

At the moment, Vietcombank holds 8.19 per cent of the stakes in Eximbank, 7.16 per cent in MBB, and 5.07 per cent in OCB.

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