Most modern cemetery in Vietnam, new threat to Dong Nai river


VietNamNet Bridge - It remains questionable why the cemetery project near the Dong Nai River which threatens the life of the river, has been approved. In early July 2011, Dona Coop announced the project on building a cemetery which is expected to be the most modern one in Vietnam, to be located on the advantageous position in accordance with oriental geomancy. However, worries and doubts have been raised about the feasibility of the project. The position which the investors calls "advantageous position" is, in fact, is just 100 meters far from the Dong Nai river. Therefore, they have every reason to worry that the cemetery would pollute the river and threaten the means of subsistence of thousands of local people. The paradise for the dead… The An Vien Vinh Hang cemetery covers an area of 116 hectares in the first phase, capitalized at 500 billion dong and it is expected to become operational from the end of 2011. After that, 200 hectares more would be expanded in the second phase of … [Read more...]

Quang Ninh Port, with “clean” finance report, attracts private investor


VietNamNet Bridge – The Vietnam National Shipping Lines (Vinalines) did not want to sell Quang Ninh Port because it could bring money, though the profits are not that high. However, the government has decided to withdraw all of its capital from the port. Soon after the government released a decision on selling Quang Ninh Port in late 2014, T&T Group sent a dispatch to Vinalines, which now runs the port, and the Ministry of Transport (MOT), the watchdog agency, saying that it wishes to take over the port. T&T, an economic group which invests capital in many business fields, from industries to finance, from real estate to import/export, is a familiar name in business circles. T&T, when expressing its willingness to buy Quang Ninh Port, also sent documents about the group’s financial situation to prove that buying a business for VND500 billion was within reach of the company, which has stockholder equity of VND2 trillion. Sources said the buyer of Quang … [Read more...]

Lotte continues expansion, becomes partner in Diamond Plaza mall


VietNamNet Bridge – The so-called "Lotte phenomenon" is a phrase on the lips of many businesspeople, reflecting the presence of the South Korean investor in many business fields in Vietnam. Lotte, for example, has replaced Korean conglomerate Posco to become a foreign partner in a joint venture operating Diamond Plaza, a shopping mall, office and high-end apartment complex in district 1 of HCM City. Lotte’s President Shin Dong Bin, at a meeting with HCM City Mayor on March 4, said Lotte had officially joined the management board at Diamond Plaza. Declining to say how much money Lotte had to pay to Posco in the deal, the president said Lotte had acquired 70 percent of Diamond Plaza’s capital. Located at the Le Duan and Pham Ngoc Thach crossroads, behind the Notre Dame Cathedral in the city center, the 22-storey complex built with initial investment capital of $60 million has an advantageous position. It has attracted famous international brands to its shopping … [Read more...]

Vietnam does not have “golden woods and silver sea”: scientists


VietNamNet Bridge – Scientists say that Vietnam is not as rich in natural resources and minerals as people assume, and that the country must avoid squandering its available resources. "Vietnam is a rich country with golden woods and silver sea" is what Vietnamese students hear from their teachers when going to school. Tran Tan Van, head of the Ministry of Natural Resources and the Environment’s Institute of Geology and Mineral Resources, said that Vietnam ranks 13th in the world in terms of population, but its territorial area is small and the minerals are diverse, but the amount of minerals per head is modest. There are many types of minerals, but mineral reserves are limited, especially precious minerals like gold. He said Vietnam should not nurture the hope of developing mining into a key industry in as part of its socio-economic development strategy. Van said in order to prevent "hunger for natural resources" in the next decades, Vietnam should think of … [Read more...]

Removal of cap on advert spending has little effect on local firms


VietNamNet Bridge – While foreign-invested enterprises applauded the removal of the cap on expenses on advertising, Vietnamese businesses, mostly small- and medium-sized, have shown little interest in the new change. Under the old laws, businesses must not pay more than 15 percent of their total expenses on ads and marketing campaigns. With the new law taking effect on January 1, 2015, businesses can figure out ad budgets as they want. Though appreciating the new law, Van Duc Muoi, general director of Vissan, a meat processor and supplier, said he still had not decided on whether to spend more money on ads, because it was difficult to measure the benefits. "As our resources are limited, if we budget bigger expenses on ads, we will have to cut expenses on other items, which would weaken our competitiveness," he explained. The director of a Hanoi-based small business noted that the new law would only benefit foreign-invested enterprises, which always draw large budgets for … [Read more...]

Vinalines’ seaport IPOs fail


VietNamNet Bridge – The recent initial public offerings (IPOs) of Vinalines all failed, with a modest ratios of shares sold on shares offered. In May 2014, Hai Phong Port sold 17,669,000 shares out of the 37,635,600 shares it offered at the IPO, which means more than a half of shares were unsalable. However, Hai Phong Port shares still sold better than other ports. Quang Ninh, for example, put 11.3 million shares in late May 2014, but only 854,500 shares, or 7.5 percent, were sold. The IPO of Nha Trang Port was even worse with only 350,800 shares, or 6.3 percent of offered shares, sold. And only 1.6 million out of 8.3 million of Da Nang Port’s shares were sold at the IPO in June. In the latest news, only 0.8 percent of Chan May Port’s shares were sold at the IPO held in mid-December 2014. A report of Vinalines, the Vietnam National Shipping Lines Corporation, the holding company of the port development companies, said the IPOs made in the first three quarters … [Read more...]

Ba Gia Campaign gives a KO blow to Johnson-McNamara Plan

Ba Gia combat plan

PANO – By the mid of 1965, the balance of power between our force and the enemy in the South Battlefield in general and Military Zone 5 in particular had changed. The Saigon Army was unable to take on its "mission" and was losing the initiative although the army had a large number of troops, was strongly provided with weapons and equipment, and directly backed by US advisors. In their implementation of the strategy "pacification", although US advisors and the Saigon government sought and tried on many measures, they failed to "win hearts and minds" of people in the South; as a result, a number of newly-set up "strategic hamlet" systems were destroyed by South Vietnamese military force and people. In an effort to retake the initiative in the battlefield, the USA continued to introduce the Johnson-McNamara Plan. Accordingly, US Marine Division 3 was sent to Da Nang and at the same time, made up fake reasons to escalate the war, bringing war to the North. For our side, after the … [Read more...]

Winter 1953-Spring 1954 Operation defeats Nava Plan

Troops of Division 316 in operation

PANO – In the Winter 1953-Spring 1954, the Politburo decided to mobilize a large number of Vietnamese regular units in coordination with friendly armed forces of Laos and Cambodia to open strategic offensives in the Indo-China peninsula with the aim of annihilating a major part of the enemy force, distracting enemy strategic mobile forces, defeating the Navarre Plan, liberating land from the enemy, creating an advantageous position for our side, and changing the power balance to achieve the final decisive victory. … [Read more...]

Social News 31/10

Ventilator donated to City hospital The New Zealand-based Julie Ferne Memorial Trust donated a Newport e360 ventilator to the Children Hospital 2 in HCM City yesterday, making it the first medical equipment donation made by the Trust to the hospital. The Preston family partnered with VinaCapital Foundation (VCF) to procure the ventilator and to ensure that the equipment will be used and maintained properly. Since 2012, the Julie Ferne Memorial Trust has raised funds from around the world to advance pediatric care in HCM City, with a focus on helping child trauma sufferers. … [Read more...]

HCMC hosts week of listening to tax payers

Tax payers arrive at the HCMC Taxation Department Office asking about tax policies and related administrative procedures (Photo: SGGP)

Ho Chi Minh City Taxation Department and sub-departments in 24 districts have hosted a week of listening to tax payers from October 27 to November 2. During the week, the department and 24 sub-departments arrange three to five officials at the most advantageous positions in front of their headquarters for answering tax payers' questions and complaints. … [Read more...]

Big companies ready to invest in SOEs with substantial land holdings


VietNamNet Bridge - Though many state-owned enterprises (SOEs) are unprofitable, investors still see them as attractive, thanks to their advantages in business fields and large land funds. All 120 million shares that the SOE Vinatex planned to sell to strategic shareholders, for instance, have been sold to two private enterprises, Vingroup and VID Group. The decision by the two investors show that SOEs are attractive, despite their lackluster business performance. A senior executive of a securities company noted that the main advantage of Vinatex is the 500,000 sq m of land the textile and garment group owns. As Vietnamese say, "land is gold". Vingroup, owned by Pham Nhat Vuong, the Vietnamese dollar billionaire listed by Forbes, has succeeded in developing two urban areas in Hanoi, Times City and Royal City, built on sites of the former Mechanical Engineering Factory No 1, the 8/3 Textile Factory and Hanosimex. And analysts believe that Johnathan Hanh Nguyen, a well-known … [Read more...]

Dong Nai invests $9.4 mil in Go Dau Seaport’s wharf

Dong Nai Port Joint Stock Company started construction of a 30,000 DWT wharf at Go Dau Seaport in the southern province of Dong Nai on September 23. VND200 billion (US$9.4 million) will be spent on the 282 meter long wharf, which is expected to come into operation in the third quarter next year. The wharf will serve cargo loading demand of Tan Rai aluminum plant in the neighboring province of Lam Dong, and businesses from Go Dau B Port and Go Dau and Long Thanh industrial zones. It will make Dong Nai Port among ten leading ports in Vietnam as per Government's plan. … [Read more...]

Foreign retailers challenge domestic manufacturers

Retailers from Thailand, Japan and the Republic of Korea (RoK) are rushing to enter the Vietnamese market, putting pressure on domestic manufacturers, according to an article published on the English language news portal VietNamNet Bridge. The Japanese Aeon retail group, for example, has recently received a licence for the development of a shopping mall in Hoa Lam Shangri-La Hi-tech Park in Binh Tan district, Ho Chi Minh City. With the project, it plans to pour another 128.5 million USD into Vietnam after investing 512 million USD to develop Aeon Tan Phu Celadon in Ho Chi Minh City, Aeon Binh Duong Canary and Aeon Hanoi Him Lam. … [Read more...]

Korean Lotte Center joins retail market in big way on National Day


VietNamNet Bridge - The developers of Lotte Center may have decided to open their new shopping mall on National Day on September 2, to attract numerous visitors. However, analysts believe they chose the wrong time to open their mall. Lotte Center, the $400 million 65-storey building, made its debut while the country is still in economic recession, and at a time when shopping malls are experiencing tough days. … [Read more...]

Industrial Zones: Concentrating on Creating Clean Land Fund for Industries

Rach Mieu bridge has been opened for traffic, facilitating transportation in Ben Tre, thus luring more investors into Ben Tre, especially into its industrial zones.

By now, Ben Tre has established two industrial zones (An Hiep industrial zone, Giao Long industrial zone), investment certificates have been granted to 38 projects with total registered capital of VND9,597 billion; of which there are 21 FDI projects with registered capital of US$327.6 million. Foreign investors come mainly from Thailand, Japan and Korea. Currently, An Hiep industrial zone has rent 100 percent of its industrial land; Giao Long industrial zone has rent 95 percent in the first phase; and though it is levelling the surface, constructing infrastructure for the second phase, it has rent 69 percent of the industrial land. … [Read more...]

Trang Tien Plaza to undergo renovation


VietNamNet Bridge - Big sale programs are being run at all the stalls of Trang Tien Plaza prior to its renovation, just 16 months after it resumed operation in April 2013. Prior to that, it underwent a restructuring after it changed hands to a new investor, who reportedly poured VND400 billion to renew it. … [Read more...]