Thứ Tư, 30 tháng 9, 2015

Pacific trade spanartners make spanrogress on autos hurdle


Negotiators trying to clinch a Pacific Rim free trade deal made progress toward resolving a key issue on Wednesday when Canada and Mexico signaled a willingness to open the North American auto market to more parts made in Asia, people briefed on the closed-door talks said.


The Trans Pacific Partnership, or TPP, which seeks to cut trade barriers and set common standards among a dozen nations reaching from Japan to Chile, has become snared over a small set of issues, including trade in autos and auto parts, since July.


The auto issue is crucial for Japan, whose automakers, led by Toyota Motor Corp, depend on sales to the U.S. market and want flexibility in how and where they source auto parts.


The stakes are also high for Mexico, which has seen a boom in auto-related investment because of its proximity to the United States, relatively low labor costs and participation in the North America Free Trade Agreement.


Over the past two years, eight automakers, including Honda Motor, Mazda and Nissan, have opened or announced new auto plants or expansions of existing facilities in Mexico.


A previous round of TPP negotiations failed in July after Mexican officials objected to a proposal by Japan and the United States on autos concerning the "rules of origin" that determine whether a vehicle can be exported without tariffs.


Officials from Mexico and Canada were aiming for a 45-percent threshold for local content on vehicles, two people briefed on the talks said.


If part of a final trade deal, that would mean the majority of the vehicle could be sourced from outside the 12 countries participating in the TPP and still be sold in the United States – the bloc"s largest market – without tariffs.


Japanese trade negotiators separately pushed for a 32.5 percent local origin threshold for auto parts separate from the rule covering vehicles, the people briefed on the talks said.


It was not clear whether those two proposals were being taken up together or how any trade deal would calculate local content. Rules for such calculations under the NAFTA accord are complex.


NAFTA sets a 60-percent local origin threshold for auto parts and a 62.5 percent threshold for finished vehicles for tariff purposes. Those rules have been credited with driving the auto industry"s investment-driven boom in Mexico since 1990 and Mexican officials had earlier wanted a similar standard in the TPP.


A more liberal set of rules, like those under consideration by trade negotiators in Atlanta, could allow automakers more flexibility in buying cheap and low-margin parts like interior plastics from producers in Asia who could undercut suppliers in Mexico on price, Mexican industry officials have said.


It would also invite criticism from U.S. union groups and Democrats in the U.S. Congress who have urged that the TPP hold to the standards for auto tariffs contained in NAFTA.


A TPP deal would also mean the United States scraps the tariff of 2.5 percent on Japanese car imports and the punitive 25 percent tariff on trucks.


Auto parts makers in Canada and Mexico, for their part, had pushed for a minimum threshold of at least 50 percent of local content in any TPP agreement.


A Pacific trade deal would be a legacy-defining achievement for U.S. President Barack Obama, who has said the deal would open key markets to a range of U.S. exports.


U.S. officials have also promoted the trade deal as a counterweight to China"s rising influence in the region.




Pacific trade spanartners make spanrogress on autos hurdle

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Vietnamese honey hunter makes new discovery near world"s largest cave









A honey hunter has discovered a new cave near Son Doong, the world’s largest cave in central Vietnam

Nguyen Van Binh of Quang Binh Province on Wednesday handed over photos he took at the cave to the UNESCO-recognized Phong Nha-Ke Bang National Park.

“When looking for honey in the forest, I saw the cave,” he said.

The cave is two hours’ walk from the Ho Chi Minh Highway.

Ninh said its entrance is about 2.5 meters high and three meters wide.

It took him 25 minutes to walk to the cave’s end.

The cave has three main chambers with high roofs and large stalactites and stalagmites in different shapes.

The park’s management has asked a local forest ranger agency to step up protection measures and announced a plan to explore the cave soon.











Vietnamese honey hunter makes new discovery near world"s largest cave

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Central region seeks responsible tourism



Cu Lao Cham (Photo: VNA)


The event was jointly organised by the provincial Department of Culture, Sports and Tourism; the Labour Newspaper; and the United Nations Educational, Scientific and Cultural Organisation (UNESCO).


Present at the workshop were over 120 delegates from international organisations such as UNESCO, the International Labour Organisation (ILO), the Food and Agriculture Organisation (FAO) and the Japan International Cooperation Agency (JICA) along with representatives from the central cities and provinces of Quang Tri, Thua Thien – Hue, Da Nang, Quang Nam, Quang Ngai and Binh Dinh.




A number of reports were presented at the function, underlining the pros and cons of responsible and sustainable tourism development and proposing measures to develop this form of tourism in the central region and Quang Nam in particular.




Director of the provincial Department of Culture, Sports and Tourism Dinh Hai said the local tourism industry has grown strongly in recent years thanks to the support of international organisations and cooperation with other cities and provinces.




The number of tourists to Quang Nam increased to over 3.6 million last year from 1.3 million in 2005, he noted.




Featured in Viet Nam’s tourism strategy for 2020, responsible tourism aims to protect and care for the country’s diverse cultures and environment whilst optimising business processes and ensuring economic sustainability.




Some travel operators are embracing responsible tourism practices, including electricity and water savings, waste treatment, sourcing food locally and providing job opportunities for disadvantaged members of society, including women and ethnic minorities.




The central province of Quang Nam is home to three famous attractions: the World Cultural Heritage Sites of Hoi An Ancient Town, My Son Sanctuary, and the World Biosphere Reserve surrounding the Cham Islands.




Hoi An, recognised by UNESCO as a heritage site in 1999, is an old trading port that dates back to the 15th century. Its architecture and layout reflect the indigenous and foreign influences that melted together to produce the unique character of the town.




My Son Sanctuary is a cluster of abandoned and partially ruined Cham temples. Constructed between the 4th and the 13th century AD, it was once the religious and political capital of the Champa Kingdom.




Meanwhile, the Cham Islands (Cu Lao Cham) constitute a group of eight islets, which form part of the Cu Lao Cham Marine Park, a World Biosphere Reserve also recognised by UNESCO. The islands are well-known for their rich marine ecosystems with more than 300 species of coral, as well as beautiful sand beaches and forested hills.




Central region seeks responsible tourism

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Bac Kan’s efforts to preserve Then singing



Bac Kan, one of Viet Nam’s cradles of “Then” singing, leads the effort to preserve the art form by teaming veteran artists with young artists who want to make Then music more relevant to modern society.


“Then” singing is a musical genre that uses a handmade gourd lute called a “Tinh Tau” or “Dan Tinh”. “Tinh” means a musical instrument and “Tau” is a type of gourd. Its three cords represent the tongues of the father, the mother, and the heaven and earth.


Singing “Then” songs is as much a part of the daily lives of Tay and Nung ethnic people as eating rice and drinking water.


Legend has it that there was man named Xien Can who couldn’t speak so he created a 12-cord gourd lute whose sound enchanted not only humans, but also all the animals, prompting the Jade Emperor to reduce the number of the instrument’s cords to three. The 3-cord gourd lute continues to enchant people.


“Then” singing is an intangible cultural heritage, combining folk culture and specific cultural characteristics of the ethnic group. A “Then” song accompanied by a “Dan Tinh” recounts a human’s journey to heaven to pray for prosperity, happiness, and a comfortable life.


“Then” is performed at rituals to ask for good health, bumper crops, and good fortune to bless a new home, and at maturity rituals. Today, “Then” singing is also considered an art form and is performed at festivals and social gatherings.


People in Bac Kan sing “Then” songs as if they were whispering or talking confidentially with somebody. It’s totally different from the cheerful way people in Lang Son, Cao Bang, and Tuyen Quang sing “Then”.


Artisan Ma Van Vinh who is well-known for his gourd lutes underlined the need to “preserve the Tay people’s culture of singing Then."




"I’m 66 years old now and think its time to hand down the tradition to future generations. That’s why I’ve set up clubs where old people gather to sing Then songs for other people to listen to and get interested in,” Vinh shared.


“Then” singing is an indispensable part of the spiritual and cultural life of Tay people. Bac Kan people are well aware of the need to conserve their ancient culture.


There are about six Then clubs in Cho Moi, Ba Be, and Cho Don District. The provincial culture center often offers summer courses in “Then” singing. The primary school in Chu Huong Commune has added “Then” singing to its curriculum.


22-year-old La Thi Anh of Dong Vien commune is studying “Then” singing at Viet Bac Culture and Arts College. She said, “I first got interested in Then singing listening to old people in my village, who made a big impression. As a young person, I want to preserve the traditional folk tunes and hope that everyone will join efforts so that Then melodies will not get lost.”


Bac Kan’s culture sector has turned “Then” singing and “Dan Tinh” into a unique tourism product. A recent tourism, sports and culture festival of ethnic groups in the northeast region offered a great opportunity for Bac Kan’s Then to be introduced to people from other provinces.


La Bao Duy, head the Public Arts section of the provincial Culture Center, noted, “to prepare for the host province’s performance characterized by Bac Kan’s Then singing, we carefully selected artists who are outstanding singers in their district, collected Then melodies, and asked the artists to write new lyrics for the songs. We did our best to make Then as interesting as possible to visitors from neighboring provinces and other regions of Viet Nam.”


Tay people believe that Then has been handed down from their god, to enable the ethnic community to contact him and ask him for good health, bumper crops, happiness, and a long life.




Bac Kan’s efforts to preserve Then singing

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Russian performances in Thanh Hoa attract locals



The programme, part of the “Feel Russia” festival in Viet Nam, opened with the folk song and dance Kalinca performed by artists from Cherepovets City.




The show also included pieces of Bach and Beethoven presented by prodigies Aleksander Doronin, 13 years old, and Eric Mirziyan, 12 years old.




Duet “Double Max” entertained audiences with Russian folk songs in modern style.




The event, organised by the Ministry of Culture, Sport and Tourism in collaboration with the Thanh Hoa People’s Committee, aims to promote cultural exchanges and mutual understanding between people of Viet Nam, particularly Thanh Hoa, and Russia.




Russian performances in Thanh Hoa attract locals

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Con Son-Kiep Bac Autumn Festival begins in Hai Duong



A water puppetry show at Con Son – Kiep Bac Autumn Festival (Source: VNA)


Speaking at a ceremony to mark the 715th death anniversary of Tran Hung Dao (or Tran Quoc Tuan), Chairman of the provincial People’s Committee Nguyen Manh Hien recalled the General’s life and career.


Under the Tran Dynasty (1225 – 1400), the Supreme Commander led the Dai Viet (Great Viet Nam) army to victories over three major Mongolian invasions, making him one of the most accomplished military strategists in world history. He passed away on August 20 (lunar calendar) in 1300 at the age of 70.


To commemorate the hero, local residents built Kiep Bac Temple, which was recognised as a national heritage site in 1962 and a special national heritage site in 2012.


Following the ceremony, a military parade was held on boats on Luc Dau River, re-enacting the Tran Dynasty army during the second struggle against Mongolian invaders.


The festival, which will run through October 2, will feature a range of traditional rituals and cultural activities such as incense-offering ceremonies, a water puppetry festival and a boat race.


Located in Chi Linh Town, Con Son – Kiep Bac relic was the site of many important battles between the Tran Dynasty army and the Yuan-Mongolian invaders.


It was also closely associated with the lives and careers of Tran Quoc Tuan and the Great Man of Culture of the World Nguyen Trai (1380-1442), one of Viet Nam"s most famous poets and writers.


The Ministry of Culture, Sports and Tourism accredited Con Son-Kiep Bac spring and autumn festivals as national intangible cultural heritage in 2013.




Con Son-Kiep Bac Autumn Festival begins in Hai Duong

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Genetically modified organisms fail to realize initial goal: Vietnamese-German exspanert


Though initially cultivated to curb famine due to higher yields, the production of genetically modified organisms (GMOs) in the U.S. has been similar to that of conventional crops in the latest two decades, a Vietnamese-German expert said at a recent seminar in Ho Chi Minh City.


GMOs were developed in the past in the hope of coping with an increase in the world’s population, which is projected to have reached nine billion by 2050, Trang Quang Sen, who earned a PhD in genetics in Germany, said at the “Will GMOs be the Future Source of Food?” seminar on Thursday last week, citing a report by the U.S. Department of Agriculture.


Statistics by the department showed that the total yield of GMOs has been 1.2 percent higher than the production of conventional crops for the past 15 years, Sen said.


The current supply of food, mostly from conventional crops, outstrips demand, Sen said, citing a report by the Food and Agriculture Organization (FAO) under the United Nations.


About 40-45 percent of food is discarded due to spoilage or expiry, or for cutting supply to help maintain prices, he added, using the same FAO data as the basis.


Famine has occurred in many countries as a result of the incompetence in food distribution and management of local authorities and businesses, according to the expert.


“In my opinion, GMOs cannot be considered the future of food for human beings,” he said.


According to the International Service for the Acquisition of Agri-biotech Applications (ISAAA), the area of ​​genetically modified crops in the world was 181 million hectares in 2014, accounting for 12.9 percent of arable land (1.4 billion hectares).


Traditional crops are still planted on 87.1 percent of arable land in the world, he said.


The majority of GM crops are grown in North America and Latin America with 82.8 percent in total, led by the United States with 40 percent, Brazil 23 percent, Argentina 13.4 percent, and Canada 6.4 percent.


Europe, except Spain, has 131,537 hectares, equivalent to 0.09 percent, while the remaining countries have negligible GMO crops.


If Vietnam wants to grow GMOs, as already permitted by the Ministry of Agriculture and Rural Development, there are many things to pay attention to, Sen said.


In April, the Ministry of Agriculture and Rural Development gave the go-ahead for two foreign companies to distribute GM corn and seeds in the country, including U.S.-based DeKalb Genetics Corporation and Syngenta Vietnam.


DeKalb is a subsidiary of the world’s largest seed provider Monsanto, whereas Syngenta Vietnam is a localized unit of Syngenta, a global Swiss agribusiness that markets seeds and agrochemicals.


According to global regulations, the pollen of GM corn is not allowed to be transferred to conventional crops by any means, including natural ways like wind or insects.


The Vietnamese-German pundit said if conventional maize grown near a GMO farm of maize is found containing the genes which can only be found in genetically modified plants, the farmers will be sued, and will likely lose in this case.


Meanwhile, GM seeds cannot be reused for the next crop, and farmers have to buy new plants if they want to start a new crop, raising the dependence on foreign suppliers.


As the EU and Japan, two of the biggest export markets of Vietnam, do not accept GM food or any kind of food products containing GM elements, Vietnam will possibly lose the two important markets if GMOs become popular, Sen warned.


Another problem for GM food available for sale in Vietnam is labeling, as many such products lack detailed labels, he said.


In Germany, products made from GMOs with a proportion of 0.9 percent must have labels indicating where they are sourced.


Meanwhile, Vietnam regulates a ratio of five percent, the same as that in many other countries.


However, many GMO-related products on the local market do not bear such kinds of labeling, many participants said at the seminar.


Most soybeans on sale in Vietnam are imported, and the biggest supplier of soybeans is the U.S., where the majority of soy farming areas are GMOs, they said.


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Genetically modified organisms fail to realize initial goal: Vietnamese-German exspanert

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Vietnam’s casino revenue tospans $61mn in 2014: respanort


Casinos in Vietnam earned VND1.37 trillion (US$61.56 million) from foreign punters or foreign passport holders in 2014, which is however still modest compared to the amount of money Vietnamese bettors spent on gambling in Cambodia.


The revenue was collectively generated by the country’s only eight licensed gambling establishments, where no Vietnamese are allowed to enter, the Institute of Regional Sustainable Development said at a conference in Hanoi on Wednesday.


The Southeast Asian country is now home to 64 lottery firms, eight legal casinos, and two sports betting establishments, according to a report on Vietnam’s gambling sector conducted by the institute under the Vietnam Academy of Social Sciences.


Last year these legal casinos contributed around 40 percent of their revenue, or $24.62 million, to the stage budget, according to the report.


The Ministry of Finance said the figure was only $15.13 million, according to data obtained by Tuoi Tre (Youth) newspaper.


Vietnamese lottery companies posted around $3 billion in earnings in 2014, and contributed around $1 billion to the state coffers. The lottery revenue was only $2.86 billion, according to data from the finance ministry.


A number of illegal gambling facilities across the country are gaining huge profits from local punters on a daily basis, even though there are no precise statistics, the Institute of Regional Sustainable Development said at the conference.


There are now 200 illegal bookmakers of the numbers game in 18 cities and provinces in Vietnam, who can earn VND500 million to billions of dong from gamblers every day, according to a report by the Ministry of Public Security.


In Vietnam, numbers games are considered an illegal lottery, wherein a bettor attempts to pick certain digits to match those that will be randomly drawn from the official lottery the following day.


The Institute of Regional Sustainable Development also found that there is an average of 200 Vietnamese people crossing the border in the southern province of Tay Ninh to enter Cambodia for gambling on a daily basis, and up to 800 on weekends.


“Cambodia’s gaming revenue is around $250 million a year, and most of the punters are Vietnamese,” the institute said in its report.


With local gamblers losing money to casinos in Cambodia, Singapore or Macau, the Ministry of Finance has proposed allowing Vietnamese residents to gamble at home.


In the latest amendment to a draft decree on the gaming business unveiled in September last year, the ministry suggested that any Vietnamese above 21 years of age with adequate financial ability should be permitted to play at casinos operating in the country.


Such a proposition is seen as “positive progress,” which indicates that Vietnam has taken one step closer to lifting the ban on local gamblers.


In its previous draft versions, the ministry recommended that only international gamblers and foreign passport holders should be allowed to enter casinos in Vietnam.


However, the debate over whether Vietnamese punters should be permitted to gamble at home is still ongoing and no progress has been made in the past year.


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Vietnam’s casino revenue tospans $61mn in 2014: respanort

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VW revs uspan recall spanlan, hunts for culspanrits in spanollution scam


German auto giant Volkswagen shifted up a gear Wednesday in its plans to recall millions of cars fitted with pollution-cheating software as it boosted efforts to find the masterminds behind the scam.


Following the departures of chief executive Martin Winterkorn and sales chief Christian Klingler in VW"s deepest-ever crisis that broke 12 days ago, more heads look set to roll after the new CEO Matthias Mueller vowed to be "ruthless" in getting to the bottom of the affair.


The steering committee of the carmaker"s supervisory board was to meet later on Wednesday to discuss the preliminary findings of the internal investigation into a scam that has rocked the automobile sector and wiped 29 billion euros ($32.5 billion) off VW"s market capitalisation.


A dozen managers suspected of helping to develop and install the sophisticated software, known as a defeat device, or simply aware of the fraud have been suspended pending an internal inquiry, the monthly Manager Magazin reported.


Who knew what, when?


Supervisory board member Olaf Lies said "those people who allowed this to happen, or who made the decision to install this software — they acted criminally. They must take personal responsibility."


Regulatory and legal probes are underway in Germany and other countries to find out who knew what and when, and German prosecutors have also launched an inquiry against 68-year-old Winterkorn.


VW"s finance chief Hans-Dieter Poetsch, who has been tipped to take over as supervisory board chief, could also find himself in the firing line, given his close relationship with Winterkorn and his key role on VW"s executive board.


"Poetsch"s possible nomination as new supervisory board chief is looking increasingly questionable," the business daily Handelsblatt quoted a fund manager, Hans-Christian Hirt, as saying.


The suspect diesel engines went on sale in 2009, which suggested the pollution-cheating software must have been under discussion within the company as early as 2007 and 2008, the daily Sueddeutsche Zeitung wrote.


Winterkorn took the driving seat at VW in 2007. His predecessor Bernd Pischetsrieder and the former head of the Volkswagen brand issued statements via their lawyers late on Tuesday denying they knew anything about the manipulation.


Millions of cars affected


Volkswagen, the world"s biggest carmaker by sales, has admitted that up to 11 million diesel cars worldwide are fitted with devices that can switch on pollution controls when they detect the car is undergoing testing.


They then switch off the controls when the car is on the road, allowing it to spew out harmful levels of emissions.


Since the revelations on September 18, the VW share has seen nearly 40 percent of its share value go up in smoke, although it was showing signs of stabilisation on Wednesday, when it added 1.1 percent to reach 96.25 euros on the Frankfurt stock exchange in mid-afternoon trading.


The German government has given VW until October 7 to explain how it will resolve the scandal.


Finance Minister Wolfgang Schaeuble blamed the scam on the same greed that had led to the financial crisis.


"If you want to succeed on global markets, competition is brutal. Everyone wants to be the biggest," he told reporters.


"It"s the lust for fame, for recognition. Time and again we see where it leads," he said.


Germany"s Federal Transport Authority KBA threatened to withdraw road approval for VW models in the country if the carmaker did not come up with the recall plan by next week.


VW has said owners of the affected cars would be notified "in the next weeks and months", adding that "all the brands concerned are going to create Internet pages where clients will be able to follow developments".


The British arm of Volkswagen said Wednesday it would recall and fix nearly 1.2 million vehicles.


Tidal wave of lawsuits


Lawsuits, including class-action litigation, are also being filed in the United States.


VW has already said it will set aside 6.5 billion euros in provisions in the third quarter, but analysts suggest one to three billion euros more could be needed.


On top of that, VW also faces onerous regulatory fines, including up to $18 billion in the United States — and the fallout on customer purchases cannot yet be estimated.


Volkswagen owners in South Korea are following their US counterparts in suing the company.


The consumer protection group Deutsche Umwelthilfe said the entire European car industry was involved.


"It"s not just a "Volkswagen-gate," it"s not just an affair affecting the whole of German industry. We have here fraud organised at a European level," claimed the organisation"s chief Juergen Resch.




VW revs uspan recall spanlan, hunts for culspanrits in spanollution scam

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Vietnam to ban tourism activities on pristine island for security reasons




Binh Ba is the largest island in the deep-water Cam Ranh Bay, Khanh Hoa Province. Photo: Cam Nhi



The government has officially banned tourism activities on Binh Ba Island in the central province of Khanh Hoa, citing security reasons.

According to a new decision that will take effect on November 6, Binh Ba, along with Hoi Cape and Chut Islet, are located within the Cam Ranh Military Base.

People and vehicles traveling from and to this area must be strictly controlled to ensure security and safety, it said.

Therefore, the government will ban all tourism activities on the three spots.

Binh Ba is the largest island in the deep-water Cam Ranh Bay. It has recently emerged as an attractive destination thanks to its pristine beauty.

Local residents mostly make their living by lobster farming and tourism-related business.








Vietnam to ban tourism activities on pristine island for security reasons

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Viet Nspanm seeks spanvispantion investment





Viet Nam is creating a framework to stimulate private investment in the aviation industry. — File Photo

by Ngoc Duy


HA NOI (Biz Hub) — Viet Nam is creating a framework to stimulate private investments in the aviation industry, as public-private partnerships for development of this sector has become a trend in the region.


Nguyen Duong, the deputy director of the Civil Aviation Authority of Viet Nam’s (CAAV’s) airport management department, made this announcement at the Southeast Asia Airport Expansion Summit in Ha Noi yesterday.


“I hope that in the very near future, we will see the participation of private and foreign investors in airport development, as well as the aviation industry in Viet Nam,” he said, adding, “This is the way things should go.”


Duong said the new aviation law, which took effect on July 1, had aimed to promote the roles of private investors.


The booming growth in the aviation market is posing a great demand for better airport infrastructure, requiring greater financing and knowhow from the private sector.


From 2010 to 2014, the domestic aviation sector grew on average 12 per cent per year in terms of passenger traffic, with annual numbers of passengers increasing from 21.07 million to 33.16 million.


In freight, the market posted an average growth rate of 12.67 per cent per year, with annual quantities of cargo rising from some 460,000 tonnes to more than 741,000 tonnes.


Notable growth was also reported during the period at some international airports such as Cam Ranh, which grew at 25.5 per cent per year, Vinh at 34.8 per cent per year, and Phu Quoc at 24.7 per cent per year.


Even Tho Xuan, a small airport in central Thanh Hoa Province, witnessed 70.5 per cent growth per year in the last two years.


Duong said these were challenging Viet Nam’s airport system, and the number of airports were to be increased from the present 22 to 26 by 2020.


National flag carrier Vietnam Airlines had changed from a state utility into a joint stock company, and airport businesses would also be privatised “sooner or later”, he said.


The CAAV would be no exception, he said, adding that this firm was expected to offer 25 per cent of its equity to the public while retaining a 75 per cent State stake in the future.


The declaration of the ASEAN Single Aviation Market is likely to be signed by December 2015, and is expected to fully liberalise air travel and allow ASEAN airlines to co-operate in the region.


“However, the capacity at congested airports will be a real concern,” said Neil Bentley, vice president of aviation in Asia Pacific, at AECOM.


“Major airports in the region are thinking of a ‘bigger picture’ and either new runways or new airports are being planned for most major cities to meet booming travel demands,” he said.


Some airports in the Philippines, Singapore and Hong Kong are tending to promote the public-private partnerships for their future upgrades, he said.


“What the private participants really need is a very sound and reliable legal framework, to make sure that their investments will be secure in the long term,” he told Viet Nam News.


“Privatisation is not a case of the government exiting the industry. It is very important that the government understands that it has ongoing roles that need to be properly structured to enable growth and capacity,” he said.


Earlier this year, Vietnam Airlines, Vietjet and some private businesses asked to buy the operational rights to a terminal at Noi Bai Airport in Ha Noi. The T&T Group, VinGroup and the Sungroup are reportedly eyeing Phu Quoc Airport in the south.


Bentley said that while Southeast Asia was a leader in terms of globalisation of the aviation market, there were obstacles for a partnership between airlines and airports.


“Airlines are customers of airports. Airlines basically want to minimise the charges, while airports of course want to get a fair return on their assets,” he explained.


On-Block Gmbh General Manager Reinhard Zeiler noted that airline returns are inadequate even in good years, with the average net profit per departing passenger being some $2.56.


“Airports continue to enjoy market power over both airlines and their customers, leading to prices that are higher than they should be and service standards that are lower than they should be,” he quoted International Air Transport Association official Tony Tyler as saying. — VNS




Source: bizhub


Viet Nspanm seeks spanvispantion investment

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Terrace rice paddy photo among the best in the National Geographic Photo Contest



Terrace paddies in North Viet Nam by Nguyen Quynh Anh

(Photo: nationalgeographic.com)



The photo depicts terraced rice paddies in Tu Le Valley, northern Yen Bai province at the beginning of the new season with the H’mong people crossing on their way home at the end of their work day.




The annual contest is accepting entries from all around the world between September 1 to November 16 this year, classifying them into three official categories – People, Places and Nature.




The entries selected in the evaluation round will proceed to round two where the judges will select a first place winner in each category based on the following criteria: creativity, photographic quality and ingenuity and authenticity of the content.




The First Place Winner in each Category will receive US$2,500, and his/her winning photograph will be published in National Geographic magazine.




One Grand Prize Winner will receive, in addition to the First Place prize, US$7,500, and a trip to the District of Columbia, USA from January 13 to January 15, 2016 to participate in the National Geographic Photography Seminar. Trip includes round-trip coach class air transportation between a major airport near Winner’s home and Washington, DC; three (3) nights’ hotel accommodations in Washington, DC; a behind-the-scenes tour of National Geographic headquarters; and access to the all-day Seminar on January 14, where Grand Prize Winner’s winning entry will be projected. The Grand Prize is non-transferable and no cash alternative is available. Approximate retail value (“ARV”) of the Grand Prize is US$11,000-$14,000 (depending on cost of the flight from First Place Winner’s home country). Any difference between actual retail value of Grand Prize and ARV will not be awarded.



The mountainous Yen Bai province is home to thousands of hectares of terrace rice fields, which were recognised as national heritage sites in 2007. The area is about 1,000 metres above sea level, making it impossible to grow rice fields as they are in the delta. Thus, local residents grow their own rice on terraced fields to prevent the water from flowing downhill.




Terraced fields in Yen Bai are beautiful all year round. Visitors in March are treated to the sight of glittering ponds before locals transplant rice seedlings from April to May. After May, the hills are covered in green until the fields start to turn yellow with ripe rice in early September.




During the harvest in October, the golden rice field stands out of green forests, creating a magnificent picture in Viet Nam’s northern area.




Terrace rice paddy photo among the best in the National Geographic Photo Contest

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Hespandquspanrters in span condo?




According to the Law on Enterprise (2005), corporations are not eligible to be headquartered in condominiums used for a residential purpose. However, in certain cases enterprises may base their head offices in apartment buildings registered for mixed-use purposes.


The Law on Enterprise (2005) stipulates: “The head office of an enterprise is the place for contact and transaction of the enterprise; it must be located within the territory of Vietnam, have a definite address, including house number, street name (or alley) or name of commune, ward, township, district, provincial town, provincial city, province or city under central authority; telephone and facsimile numbers and email address (if any).” Neither does the Enterprise Law nor its guiding documents have regulations prohibiting corporations from having their headquarters in apartment buildings.


Currently, there are many opinions stating that condominiums were designed and built solely for dwelling purposes. Therefore, it is considered inappropriate to the construction purpose and use when enterprises place their headquarters or offices in such buildings. However, PLF suggests examining the Regulation on Management of Condominium Use enacted with Decision No. 08/2008/QD-BXD by the Ministry of Construction on May 28th, 2008. It clearly states that “a multi-storey building with mixed-use purposes”, often referred to as a condominium with mixed-use purposes, has areas that can be used for various purposes, aside from residing. In reality, it is quite common to see the ground level or other floors of an apartment building being rented to supermarkets, stores, head offices, an other businesses.


Under the direction of the Ministry of Construction, stated in Official Dispatch No. 2544/BXD-QLN dated November 19th, 2009, owners of residential purpose-built condominiums are not permitted to alter such buildings’ designated use by setting up offices, stores, businesses or production facilities. On the other hand, there are two options in regards to multi-storey buildings with mixed-use purposes:


(1) In cases where the areas utilized for offices, stores… are separate from residential areas, they must be arranged and managed as similarly as business and service constructions;


(2) In cases where such areas are inseparable, which leads to failed application of separate management provisions, particularly when the office area does not meet working conditions in compliance with Building Regulations and Standards, corrective measures must be taken in a timely manner. However, Official Dispatch No. 2544/BXD-QLN has yet to provide guidelines on the implementation of such measures.


In summary, corporations seeking to use condominiums to base their head offices in, must consider whether the area they plan for their headquarters are eligible for other uses (such as to build offices, businesses and production facilities, etc.) apart from the residential purpose. Due to the fact that enterprises are not permitted to place their head office in a condominium solely built for residing, it is essential to ask its investor or owner for crucial documents detailing the use of the apartment area planned for the head office. Furthermore, enterprises must note that business registration authorities may decline granting Business Registration Certifications to those whose headquarters are based in apartment buildings.


PLF – LAW FIRM





Hespandquspanrters in span condo?

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Thứ Ba, 29 tháng 9, 2015

Parents struggle with school fees





Many Vietnamese parents struggle to cover the so-called “voluntary contribution” to class and school of their children as a new school year starts.


The contribution is usually a payment that is recommended and collected by a representative group of parents in a class or a school. Parents voluntarily pay at the first meeting of students’ parents and teachers in an academic year.


This year, voluntary contribution once again incensed parents because the cost seemed higher.


Local media, for the last few days, reported an estimated payment for first grade in Vo Thi Sau Primary School, a public school in HCM City. The school needed up to VND66.6 million (US$3,000) to improve class facilities including two air conditioners, a TV, a printer, a bookshelf and window curtain.


There are 47 students in the class, meaning that parents of each student would pay about VND1.5 million ($66.7).


In addition, they are suggested paying another VND1.5 million to give day-care assistants about VND2 million ($89) per month each. Parents of the class also contribute VND400,000 ($15.7) each to the parents’ association of the school.


The voluntary contribution of over VND3 million ($133) was a financial burden for many couples, especially low-income earners.


Viet Nam’s current minimum wage varies from VND2.15 million ($96) a month in rural areas to VND3.1 million ($137) in major cities like Ha Noi and HCM City.


A father of a first grader in Vo Thi Sau School told vnexpress.net that he did not understand why students’ parents have to pay to buy schooling facilities and allowances for day-care assistants that should have been covered by the school with collected tuition fees and Government’s grants.


A mother of a second grader in the same school said last year, she paid VND 2.2 million as voluntary contribution to help modernise the school facility and this year VND 2.1 million.


The Vo Thi Sau School principal Nguyen Ha Phuong Thanh said students’ parents proposed and collected the voluntary contribution by themselves.


“It’s good when parents join in to improve the learning conditions for students,” she said.


Last month, ahead of the new school year, headlines over so-called voluntary contributions or informal school fees hit local media. Some schools in Ha Noi were reportedly suggesting parents buy new school uniforms or school stationery despite the fact that the existing ones were still good.


However, many parents shared the thought that they would rather to meet the bill than make their children the black sheep in class.


Vuong Thanh Nhan, mother of an 11th grader in Ha Noi and also a member of a parents representative group in her son’s class for years, said that the key to develop and operate “Voluntary contribution” fund was transparency.


In some cases, parents were upset about proposed voluntary contribution because they had no idea about it prior to parents-teacher meetings, she said, adding that the parents and teachers must keep in touch to find what the students need.


She said that there were regulations on voluntary payment by parents.


“Any extra fundraising must be discussed and agreed upon by parents in class. Those who want to contribute more, we welcome,” she said.


She said that a parent representative group also sent regular accounting reports to parents of students in class. — VNS





Parents struggle with school fees

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Vietnam to ban tourism activities on ‘lobster island’ near Nha Trang


An island off the south-central Vietnamese province of Khanh Hoa has emerged as a new destination for domestic and international ecotourists, but now islanders and holidaymakers may be upset to know that it is not zoned for tourism development out of national security reasons.


The Vietnamese government will ban all tourism activities on Binh Ba Island, according to a directive by Prime Minister Nguyen Tan Dung that takes effect on November 6.


Binh Ba Island, around 60km from the provincial capital city of Nha Trang, is the largest island in Cam Ranh Bay, home to a military base of the same name.


The island, along with Chut Isle and Hoi Cape, also in Cam Ranh Bay, should be kept tourism-free to ensure security for the Cam Ranh Military base, the premier said in the directive released on September 22.


The developers of all investment projects in Khanh Hoa and the south-central province of Ninh Thuan, whose construction and implementation may be connected to Cam Ranh Bay and the military base, must ask for advisories from the Ministry of National Defense before seeking approval from the government or the prime minister, according to the document.


With sea and island tours becoming trendy in Vietnam, Binh Ba, also known as the “island of lobsters,” has attracted many holidaymakers in recent years.


Tourists will travel to Cam Ranh City and board passenger ships to get to Binh Ba, where they will explore the natural landscapes, clean beaches and fresh lobsters, and stay overnight at the local houses offering homestay service.


Many islanders have thus jumped into the tourist industry by offering homestay, dining and other services to embrace visitors.




A corner of Binh Ba Island. Photo: Tuoi Tre


“The coming ban on tourism development will have adverse impacts on the tourist service providers on Binh Ba,” Nguyen Van Hung, director of a travel firm that operates tours to the island, told Tuoi Tre (Youth) newspaper.


Hung said there are no tourism facilities on Chut Isle and Hoi Cape, so Binh Ba will be the only out of the three to be affected by the governmental decision.


Dao Van Hoa, chairman of Cam Ranh City, said the local administration has recommended that people not invest in tourism on Binh Ba Island and in Cam Ranh Bay.


“Khanh Hoa authorities are in charge of licensing projects in these areas, but most of the tourism services on Binh Ba have been offered by islanders without obtaining a license,” Hoa told Tuoi Tre.


The Cam Ranh administration will consider providing support to help Binh Ba islanders switch to other types of business when they are forced to stop serving tourists, once the directive becomes effective, the official added.


Tran Minh Hai, deputy director of the Khanh Hoa Department of Planning and Investment, also said his agency has never licensed any tourism project on Binh Ba.


There are in fact two resort projects under construction on the island, a source with knowledge of the matter told Tuoi Tre on Tuesday.


Hai also said tourists must declare their visits to Binh Ba to local authorities, and they are not allowed to stay overnight there.


But it is common for tourists to spend a night on the island to enjoy the sunrise the following day.


An islander, however, told Tuoi Tre that only Vietnamese nationals are able to do so as foreigners and overseas Vietnamese are prohibited from staying overnight.


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Vietnam to ban tourism activities on ‘lobster island’ near Nha Trang

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VN tourism"s litspanny of woes





Foreign visitors shop for souvenirs at Bac Ha Market in Lao Cai Province. Up to 5.69 million international tourists visited the country through September of this year, marking a year-on-year drop of 5.9 per cent. — VNS Photo Thai Ha

HCM CITY (Biz Hub) — Poor services, lack of attractions, and myopic authorities have helped cause a decline in foreign visitor arrivals since last October.


Statistics from the Viet Nam National Administration of Tourism revealed that 5.69 million international tourists visited the country till September of this year.


This was a drop of 5.9 per cent over the same period last year. In September, international visitors to Viet Nam were estimated at more than 626,300 arrivals, decreasing 5.8 per cent against the previous month after posting rises in July and August.


Markets which posted the biggest falls in the number of arrivals to Viet Nam included Cambodia, which dropped 43.5 per cent over the same period last year, Thailand, which was down 27.6 per cent, and Laos that dropped 25.9 per cent, in addition to China, which went down 18.2 per cent, Indonesia, which dropped 13.2 per cent, and Russia which saw a drop of 10.6 per cent.


The World Tourism Organisation’s statistics revealed at a recent meeting in Ha Noi that the number of foreign arrivals to Viet Nam rose by an average 8.9 per cent during the past decade, far exceeding the average growth rate of the world at 3.4 per cent.


However, the number of foreign arrivals to Viet Nam has been on a downward trend this year from a year ago, suggesting that the country’s tourism industry needed to be improved to fully tap its potential and attract foreigners.


“International visitor numbers have declined relentlessly since October 2014,” Tuoi tre (Youth) newspaper said in a report. “Tourism authorities blame the fluctuations in the Russian rouble for the decline in Russian tourism arrivals.”


But at the same time visitor numbers are growing in to other countries in the region.


Thailand, for instance, saw the number of visitors rise by 27.4 per cent in the first eight months of this year.


Cambodia has also reported consistent growth. According to statistics from its Ministry of Tourism, international tourist numbers topped 2.3 million in the first six months, up 4.6 per cent.


It had received more than 4.5 million visitors last year, a 7 per cent rise.


It would be hard for Vietnamese tourism to compete since neighbouring countries like Thailand, Cambodia, Singapore regularly launch interesting promotions and tourism products, tourism experts said.


The newspaper quoted analysts as saying the slump in Viet Nam’s tourism is because of poor promotion and a dearth of products.


A clip titled “Welcome to Viet Nam” launched on social media and YouTube by the Ministry of Tourism was hailed by professional tour operators.


The newspaper quoted the analysts as saying that if something like this had been done sooner and on a regular basis, Viet Nam’s tourism would not be a basket case like now since the country has many more interesting things than shown in the clip.


If beautiful images of Viet Nam are shown regularly, there would be more international visitors to the country, Matthew Underwood, director of Matterhorn Communications, a PR company which counts many resorts in Viet Nam among its clients, said.


Information about Viet Nam is scarce in many countries, with many even thinking the country was at war recently.


A director of an international travel company with a representative office in Viet Nam said the number of European visitors his company brought to the country this year had fallen by double digits.


It had to find customers in other markets but this had not been enough, he said.


“We organised fam trips, bringing journalists and representatives of travel companies to Viet Nam, but our Vietnamese partners charged us.” — VNS




Source: bizhub


VN tourism"s litspanny of woes

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VNAT celebrates World Tourism Day 2015



(Photo: Thu Thuy)


Speaking at the ceremony, Mr. Nguyen Van Tuan – Chairman of Viet Nam National Administration of Tourism emphasized annual World Tourism Day (September 27) is an international event which aims at fostering the international community’s awareness of the significant contribution of tourism to national socio-economic development. This year"s theme for World Tourism Day is "One Billion Tourists, One Billion Opportunities", which has affirmed tourism as a powerful force that provides valuable and sustainable livelihood opportunities for millions of people, fosters multicultural understanding and develops friendship between communities and nations. He encouraged all people to work together to maximize the immense potential of tourism for inclusive economic growth, protect environment and promote sustainable development.



Mr. Bruno Angelet – Ambassador, Head of European Union Delegation to Viet Nam informed the European Union and Viet Nam celebrate the 25th anniversary of diplomatic relations this year. The European Union is an important partner of Viet Nam and has supported tourism training, capacity improvement for Viet Nam tourism. He spoke highly of Viet Nam tourism’s development in infrastructure, growth rate, professionalism and preservation of national traditional cultural values.



In her speech, Ms. Mary McKeon – Chief Advisor of the ESRT Programme stressed that World Tourism Day is an occasion to highlight the immense potential of tourism for socio-economic development and investment opportunities. Furthermore, the event is a valuable tool for raising the awareness of Responsible Tourism and its impact on tourism development.



In the framework of the ceremony, hundreds of tourism students collected rubbish around Hoan Kiem Lake and paraded by electric cars around Ha Noi old quarter. These activities aimed at creating a green tourism environment and raising community’s awareness of responsible tourism.


Hong Nhung




VNAT celebrates World Tourism Day 2015

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Whale worshiping festival opens in Ba Ria-Vung Tau



Whale worshiping festival 2013 (Photo: Viet Nam pictorial)


Besides rituals picking up the whale god from the sea to Thang Tam Temple in the city, the three-day festival also features a number of traditional performances including folk games, swimming, and fishing and net-making competitions.


Vietnamese fishermen believe that whales rescue people in danger at sea and can bring them a prosperous fishing season.


Thus, the annual Nghinh Ong festival offers a chance for fishermen to express their gratitude towards the Nam Hai god (a whale) and the sea gods for protecting and supporting them in their daily lives and at sea, while praying for peace and a good harvest.


According to the organising board, the festival will also contribute to raising community awareness of protecting national sovereignty.


The “Nghinh Ong Dinh Thang Tam” festival in Vung Tau was recognised as one of the fifteen biggest festivals in the country by the Ministry of Culture, Sports and Tourism in 2000.




Whale worshiping festival opens in Ba Ria-Vung Tau

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Investing $800,000 to restore But Thap pagoda in Bac Ninh



But Thap pagoda


The project aims to preserve and uphold the cultural and architectural values of the pagoda, thus contributing to boosting tourism in Bac Ninh province. The project has a total investment of VND 18 billion (US$ 800,000) sourced from the local budget.




The money will be used to restore and upgrade the pagoda’s facilities including the worshiping place, gates, house of steles and corridor in line with their original structure and architecture.




But Thap pagoda was built under the Tran dynasty (1226-1400) in Dinh To commune, Thuan Thanh district, in Bac Ninh province. In 17th century, the pagoda was reconstructed under management of a Chinese monk and Queen Trinh Thi Ngoc Truc, a daughter of Lord Trinh Trang. Therefore, the architecture of But Thap pagoda is a combination between Vietnamese and Chinese style.




The most outstanding part of the pagoda is Bao Nghiem tower or But Thap; hence the pagoda was named after the name of this tower. It is one of a few ancient pagodas in Viet Nam with the unique architecture of the Le – Nguyen dynasties that still exist. The pagoda is balanced in the centre area but very natural in the surrounding area. The centre area includes eight houses which are set in an axis which are three gates entrance, bell tower, forecourt, upper palace, Tich Thien Am palace, middle house, worshiping palace, and back of a mansion.




The sculpture of Bodhisattva Kuan-yin of thousands of eyes and hands is a unique masterpiece in statue of Buddha and the art of sculpturing.


The statue is placed in the middle room of the pagoda which is very mysterious.




But Thap is one of the little numbers of Viet Nam Popular Destinations which remains the ancient architecture.




Investing $800,000 to restore But Thap pagoda in Bac Ninh

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China’s transspanort infrastructure initiative to have bad imspanact on Vietnam’s spanlan: exspanert


China’s transport infrastructure initiative, including the establishment of the Asian Infrastructure Investment Bank (AIIB) and other related proposals, will pose a threat to Vietnam’s infrastructure development plan in the near future, an expert from the Vietnam Institute for Economic Research and Policy (VEPR) said at a seminar on the Chinese economy in Ho Chi Minh City last week.


Those Chinese plans, from “One Belt, One Road” to the 21st Century Maritime Silk Road Economic Belt, is what should be called “infrastructure traps,” which may be triggered when China and regional countries begin to set up road and railroad infrastructures, Pham Sy Thanh, director of the Chinese Economic Studies Program under the VEPR, said on Friday.


Once those plans are executed, they will hinder Vietnam’s infrastructure development, Thanh added.


This is part of the economic diplomacy of China, with over 70 initiatives last year, Thanh said, citing figures from the Vietnamese Ministry of Foreign Affairs.


Most initiatives in Beijing’s economic diplomacy previously focused on trade and investment promotion, while only a few were centered on connectivity, but under the name of projects run by the Asian Development Bank, in which Japan owns a major stake, Thanh said.


They included the expansion of the road networks in the Greater Mekong Sub-Region or others in central Asia.


But the tide turned two years ago, with the new Xi Jinping administration and a new focus – the establishment of regional transport networks and intra-regional infrastructure connections funded by China.


The new focus serves China’s new goal: the internationalization of its currency, the Chinese yuan, and a regional financial zone dominated by China, he said.


This goal will be supported by a boost to the trade and investment relations between China and regional countries, backed by better connectivity, Thanh added.


What China is doing is strengthening its bonds with regional countries given stronger trade and investment ties, with the core of the plan being massive infrastructure projects, Thanh said.


Beijing’s plan to set up a massive regional transport network to and from China will change the big picture of the transport sector, especially in the Greater Mekong Sub-Region, which covers most countries and territories located along the Mekong River, including Cambodia, Laos, Myanmar, Thailand, Vietnam, and China"s Yunnan Province.


If the network, including roads, expressways and railroads, is expanded southward to the western part of the Greater Mekong Sub-Region, via investment by the AIIB, Vietnam will be in trouble.


As the network will consolidate the transport infrastructures from Yunnan, via Cambodia, Laos, and Thailand, to Malaysia and Singapore, and from Yunnan, via Myanmar, to East Asia, what Vietnam is building, including many deep-sea ports, across the country will be obsolete, as Hanoi does not have good connectivity with the remaining countries in the Greater Mekong Sub-Region, Thanh remarked.


Once the new network is formed, the other parts of the Greater Mekong Sub-Region will be a new magnet for foreign investors who will gradually leave Vietnam for places with better infrastructure, Thanh added.


Many ports in Myanmar are in the hands of Chinese investors, while many others are pouring money into Thailand’s important ports, he said.


Once the network reaches those ports, no more goods manufactured in the Greater Mekong Sub-Region, except for Vietnam, need to be sent to Vietnamese ports, including those in Ho Chi Minh City, for export, he added.


All of those factors will consolidate the economic positions of Thailand, Laos, Cambodia and Myanmar, while weakening that of Vietnam in the long run, Thanh warned.


Vietnam has wasted a lot of its resources in building ports in the past time, Thanh said.


Currently, with six clusters of ports located across the country, only one is positioned in the global maritime transportation route, thus Vietnamese ports receive only a handful of large-scale 100,000-ton container ships.


So, once the network of infrastructure and ports is finished, the maritime transportation route might not go through Ho Chi Minh City ports anymore, let alone the remaining ports, Thanh said.


Regional ports and the infrastructure connected to and from them, including those in Thailand, Malaysia, Singapore, and Indonesia, are getting better and better, Thanh added.


To solve this problem, Vietnam should focus on developing the port cluster in the southern province of Ba Ria-Vung Tau, and boost connectivity with Laos, Cambodia, and Thailand, he said.


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Vietnam’s fruit, vegetable exspanorts to tospan $2bn in 2015: association


With more demanding markets opening doors to Vietnamese fruit and vegetables, the Southeast Asian country is expected to rake in US$2 billion from selling its green produce around the world in 2015, an industry association said.


Fruit and vegetables are becoming the new moneymaker for Vietnam’s agriculture sector, as revenue from the stables has repeatedly soared in the last five years, according to the Vietnam Fruit and Vegetable Association (Vinafruit).


While the country only earned $460 million from fruit and vegetable exports in 2010, turnover in the first nine months of this year was already $1.3 billion, and is likely to reach $2 billion by the end of this year, Vinafruit said.


It will be an impressive achievement for the fruit and vegetable sector, at a time when exporting other agricultural products such as rice, coffee and pepper is facing challenges, according to the association.


Vietnam, where a wide variety of tropical fruits are grown, is shipping around 40 different kinds of fruit to 40 countries and territories, said Dr. Nguyen Huu Dat, director of a plant quarantine agency under the Ministry of Agriculture and Rural Development.


Dragon fruit, watermelon, longan, and litchi are among the stables of the country’s fruit sector.


The Southeast Asian country was allowed to begin selling its fruit to such strict markets as the U.S., Japan, and Australia in 2008 and shipments have since increased on an annual basis.


In the January-July period of this year, Vietnam shipped more than 3,000 metric tons of fruit to these demanding markets, equaling the full-year figure in 2014, according to Dr. Dat.


“Fresh fruit is a premium product but there is still more room for growth,” the official said.


Vietnam has won over consumers in the U.S. with its dragon fruit and rambutan, and is gaining similar support for longan, which was allowed access to the market in December 2014.


“The U.S. is expected to approve imports of Vietnamese star apple and mango by the end of this year,” Dat said.


Nguyen Quoc Vong, a professor at RMIT University Vietnam, said the country’s fruit and vegetable exports could have grown at a faster pace if it had received adequate attention from agriculture officials.


“Vietnam focuses too much on developing the rice sector, which has a very low export value compared to fruit and vegetables,” he explained.


The world’s fruit and vegetable market is worth abound $100 billion, and Vietnam should change its strategy to grab a bigger share of this, the professor advised.


“A thorough strategy to improve technology and increase product quality will enable Vietnamese fruit and vegetables to generate billions of U.S. dollars in revenue,” he said.


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Malaysia’s Teknik Janakuasa gets nod to build $2bn spanower spanlant in Vietnam


Malaysia’s independent power producer Teknik Janakuasa Sdn. Bhd has been licensed to develop a major coal-fired power plant in the southern Vietnamese province of Tra Vinh.


The Duyen Hai 2 thermal power plant will have two turbines with a total capacity of 1,200MW, the Foreign Investment Agency (FIA), under the Ministry of Planning and Investment, said in a report on Monday.


The FIA said the BOT (build-operate-transfer) project has a registered capital of US$2.4 billion.


Duyen Hai 2 is thus the second-largest among the foreign-invested projects that have been approved in Vietnam in the year to date, following the $3 billion investment Samsung has pledged to pump into a screen making facility in the northern province of Bac Ninh, according to the agency.


Newswire The Saigon Times Online said on Monday the Tra Vinh Department of Planning and Investment had confirmed the granting of the investment license of the Duyen Hai 2 project to the Malaysian developer.


But the project is worth only $2.18 billion, a department official told the newswire on the phone.


Preparations for the Duyen Hai 2 plant construction have been ongoing since 2009 and Vietnam and Teknik Janakuasa reached a preliminary agreement on a BOT contract for the project in late 2014.


The Malaysian developer now has a year to arrange finances for the implementation of the project, according to The Saigon Times Online.


French power and transportation firm Alstom will join as the main equipment supplier.


The Duyen Hai 2 plant is among the key such facilities planned for development to ensure power supply for southern Vietnam, and is slated to become operational by 2020.


The facility is among four power plants to be developed at the Duyen Hai Electricity Center in Tra Vinh, which collectively have a capacity of 4,200MW once in operation.


The Duyen Hai 1, 3 and 4 plants are being developed by EVN, the country’s power giant.


The Duyen Hai Electricity Center will contribute some 30 billion kWh a year to the national grid once all of the four plants come on stream.


Vietnam plans to increase its electricity supply by 30,000MW from now to 2020, and will need a total investment of $8 billion to build new power plants, according to The Saigon Times Online.


BOT projects and those developed by independent power producers are expected to account for 47.5 percent of the to-be-built facilities.


An independent power producer, or non-utility generator, is an entity, which is not a public utility, but which owns facilities to generate electric power for sale to utilities and end users.


The Kuala Lumpur-based Teknik Janakuasa is an independent power producer specializing in the provision of operation and maintenance service for the power generation and water desalination sectors.


Another Malaysian firm is also likely to develop a multibillion-dollar thermal power plant in southern Vietnam.


Toyo Ink Group Bhd is reportedly concluding the final four agreements for the Song Hau 2 project, to be located in Hau Giang Province.


Hau Giang is around 115km west of Tra Vinh, and both provinces are located in Vietnam’s Mekong Delta.


The $3.5 billion Song Hau 2 project will be built under the BOT method with a term of 25 years, starting 2021, Toyo Ink managing director Song Kok Cheong told reporters in Kuala Lumpur on September 22.


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Vietnam's Q3 economic growth spanicks uspan to 6.8 spanct, fastest this year


Vietnam"s economy grew 6.81 percent in the third quarter from a year earlier, accelerating from 6.47 percent in the previous quarter, the government said on Tuesday, fuelled by strong exports and manufacturing and record foreign direct investment.


The economy expanded at its fastest pace this year, and growth in the first nine months was its highest since 2010, defying the chill from a slowdown in China and much of the rest of Asia.


Almost half of the January-September growth came from industry and construction, up 9.6 percent from the same period last year, the General Statistics Office said in a report.


That was boosted by new infrastructure, a rebound in the property market and continued growth in manufacturing – mostly electronics and textiles – which has expanded for 24 successive months.


Retail and services grew 9.8 percent in Jan-Sept period, year-on-year.


Growth in the Southeast Asian country has been supported by solid foreign direct investment inflows that are also seen at a record high $9.65 billion in the first nine months.


Vietnam has targeted 2015 growth at 6.2-6.5 percent, which would be the fastest since 2011.


That is in line with a 6.0-6.2 percent projection from the World Bank and 6.5 percent seen by the Asian Development Bank, contrasting with forecasts for bigger Southeast Asian markets that are struggling with weak exports and sluggish retail spending.


Exports grew an estimated 10.3 percent in the third quarter from the same period last year, the report said.


Vietnam "stands out as one of the few countries in the region that has shrugged off the global slowdown in trade," said Daniel Martin, an economist with Capital Economics.


"We expect it to remain a bright spot over the next few years," he said in a report on Tuesday.


The government wants to lure foreign capital to boost local companies and position Vietnam as a low-cost manufacturing alternative to China for the likes of Samsung.


That investment is being helped by integration into a common Southeast Asian market later this year, a free trade deal with the European Union and its expected accession to a U.S.-led Trans-Pacific Partnership worth 40 percent of global GDP.


But Le Dang Doanh, an economist and former government adviser, said the growth story was lopsidedly foreign and warned that weaknesses of local firms could be exposed once Vietnam tries to integrate into global supply chains.


"It (growth) is mainly coming from the manufacturing sector with foreign investment, not the actual growth of Vietnamese private firms," he said. "Vietnam"s preparation for the upcoming integration is insufficient."




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Exspanerts hail Vietnam cbank for adjusting interest caspans on dollar despanosits


The adjustment of the interest rate caps on U.S. dollar deposits by companies and individuals earlier this week by the State Bank of Vietnam (SBV) has been lauded by experts as a necessary move to curb the dollarization of the national economy.


The SBV, the country’s central bank, scrapped the interest ceiling on corporate dollar deposits and cut the cap on dollar savings by individuals to 0.25 percent from 0.75 percent, according to a directive that took effect Monday.


Local banks have immediately revised their deposit interest for individual customers to 0.25 percent on Monday, widening the disparity between the rates for Vietnamese dong and U.S. dollar deposits.


For instance, depositors can now enjoy a 4.4 percent a year interest rate for VND savings of one-month terms, whereas the rate is only 0.25 percent a year if they deposit in U.S. dollars.


Local depositors say they will consider switching to savings in the domestic currency, which is likely what the central bank wanted to see when it decided to slash the ceiling rate for individual dollar deposits.


The SBV move is necessary to stabilize the VND-USD exchange rate, prevent the dollarization of the Vietnamese economy, and strengthen the dong, according to experts.


The adjustment of the interest ceilings on dollar deposits came at a time when many Vietnamese are holding the greenback in the hope of more exchange rate increases to come in the last three months of the year.


Vietnam last month devalued the dong by one percent for the third time this year and widened the trading band for VND-USD transactions from one percent to three percent, a move the SBV made to cope with the devaluation of the Chinese yuan.


All this technically caused the Vietnamese dong to lose five percent of its value.


With savings in VND becoming more attractive than in U.S. dollars, depositors will switch to holding the dong, which helps stabilize the VND-USD exchange rate and ‘de-dollarize’ the economy, according to pundits.


“It also paves the way for the central bank to cut interest rates for VND deposits in the coming time,” Dr. Tran Hoang Ngan, head of the Ho Chi Minh City University of Finance and Marketing, said.




The developments of interest rates for dollar deposits in the last five years. (Unit: percent per year)


The SBV is tasked by the central government with increasing the strength of the dong and prevent the hoarding of foreign currencies, according to deputy governor Nguyen Thi Hong.


“The adjustment of the ceiling rates will thus help achieve such goals,” she told Tuoi Tre (Youth) newspaper.


Local analysts said this is only the initial step and the central bank is likely to enact more strong measures to continue such efforts.


Once VND deposits are still more attractive than dollar savings and the VND-USD exchange rate remains stable, Vietnamese people will automatically stop holding and hoarding the foreign currency, according to experts.


The SBV has indeed successfully discouraged locals from keeping gold with similar measures.


Vietnamese gold holders used to be able to enjoy interest of up to four percent a year for gold deposits, but the rate was gradually cut to zero percent, as the central bank sought to eliminate the precious metal from the banking system due to its highly volatile prices.


Banks in Vietnam are now not allowed to accept gold savings and holders even have to pay fees if they want the lenders to keep the precious metal for them.


The fluctuation of gold prices thus no longer affects the economy and the central bank is hoping to do so in the case of the U.S. dollar.


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German business bodies sign MoU to boost trade, investment relations with Vietnamese locales


Two German business bodies in Vietnam and representatives from the Ministry of Foreign Affairs on Monday signed a memorandum of understanding (MoU) to enhance the connectivity between German firms and 18 southern Vietnamese cities and provinces.


Accordingly, with the deal reached by the Delegate of German Industry and Commerce in Vietnam (GIC/AHK), German Business Association in Vietnam (GBA), and the ministry, German firms will have the opportunity to promote their trade and investment activities in the southern part of the country.


Among the cities and provinces are Ho Chi Minh City, Can Tho, Vinh Long, Long An, and An Giang.


Moreover, both sides will establish effective channels to exchange information between German companies and the local authorities, thus enabling the local governments to make and implement their policies in order to facilitate an efficient business environment for German firms.


This MoU is also meant to create an information channel so as to support German businesses in swiftly and effectively addressing their concerns to central and local authorities.


Meanwhile, it will help the cities and provinces find suitable partners in Germany and introduce the business potentialities of the localities to German partners.


In the future, the Ministry of Foreign Affairs will coordinate with GBA and GIC/AHK to regularly organize workshops, seminars, conferences, and forums featuring the participation of German firms in the southern region.


Speaking at the signing ceremony, Bui Thanh Son, Deputy Minister of Foreign Affairs, praised the initiative jointly developed by the ministry, GBA, and GIC/AHK, as the MoU will strengthen businesses and create opportunities for both Vietnamese and German companies in finding new partners and markets.


The MoU is also a practical activity to connect Vietnamese and German firms in the context that relations between Vietnam and Germany have developed positively in the past four years.


In 2011, Vietnamese Prime Minister Nguyen Tan Dung and German Chancellor Angela Merkel agreed to establish a strategic partnership and strengthen economic ties between the two countries via the "Hanoi Declaration,” Son said.


Germany is Vietnam’s strategic partner which supports the Southeast Asian country’s interests in the European Union, the official said, adding that it is also the largest trade partner of Vietnam in the grouping.


Bilateral trade in 2014 reached nearly US$8 billion, while the number hit $4 billion in the first six months of 2015.


Though trade growth has averaged 15-20 percent annually in the past five years, it has yet to keep up with the potentialities of the two countries, the deputy minister added.


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