Cell phone buying energy not as strong as expected

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VietNamNet Bridge - Although the Lunar New Year 2013 is drawing near, the cell phone buying energy remains mild, contrary to expectation of retailers. Dinh Anh Huan, sales director of the retail chain Thegioididong.com, said mobile phone sales had picked up slightly, estimated at 20%, versus a growth of 40% last year. At this time in previous years, the buying energy was very strong, but it seems to cool down this year. This suggests consumers are tightening their purse strings under … [Read more...]

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BUSINESS IN BRIEF 26/1

Thua Thien-Hue plans to attract VND2.9 tril. investment into IPs The central province of Thua Thien-Hue has planned to lure VND2.9 trillion worth of investment in its industrial parks (IPs) this year. This year, enterprises in IPs are expected to disburse nearly VND 2,890 billion and employ some new 3,000 people (up 21.9% against last year). In 2012, they made industrial production value of VND3,247, accounting for 39.2% of the province's total, and export turnovers of US$294.6 million, … [Read more...]

BUSINESS IN BRIEF 23/1

Asiana Airlines to own 50% of Kumho Asiana Plaza A 50% stake in the commercial center and hotel complex Kumho Asiana Plaza Saigon in HCMC will be acquired by Asiana Airlines, said Won Il Woo, president and CEO of Kumho Engineering & Construction. "This is an internal deal within Kumho as it is being made between its two subsidiaries, Asiana Airlines and Kumho Engineering & Construction," he said at a meeting with HCMC vice chairman Le Manh Ha on Thursday. He asked about the … [Read more...]

Software developer expects high profits

FPT's shareholders at the annual general meeting held on March 29 in Ha Noi. (Photo: Vietnamplus)

The software developer FPT Corp. hopes to make pre-tax profits of VND1.45 trillion ($83 million) this year, up 17 percent on the previous year, it announced at its annual general meeting of shareholders March 29 in Ha Noi. The meeting decided that dividends will be paid at 26 percent of last year's profits. The company will reinvest the rest to ensure operations in the following years. The company's revenues last year hit a record VND16.8 trillion ($1 billion). This year the company aims to … [Read more...]

Images: Houses become cellars in Saigon

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VietNamNet Bridge - When roads are heightened by 1-2 meters, the houses along the roads are turned into basements, right in the heart of HCM City. Along new roads such as Pham Van Dong in Thu Duc District, Pham Van Chi and Lo Gom in District 6 and some others, passers-by can see hundreds of such houses. The door of Mrs. Nguyen Thi Hoai's house, in Lo Gom, District 6, was previously 2.2m high, but since the road was rebuilt, it is now only about 0.8m high. Many families have to abandon or … [Read more...]

Vietnam-US trade could approach $35b

Bilateral trade may reach US$34.9 billion this year after hitting $24.9 billion in 2012 and $29.7 billion in 2013, a healthy increase of nearly 20 per cent for two years in a row. - Photo baohaiquan

VietNamNet Bridge - Trade between Viet Nam and the US continues to expand in spite of domestic and international economic difficulties. The American Chamber of Commerce in Viet Nam made the announcement in an outlook report that it posted on its website early this week. … [Read more...]

Dong Nai to relocate industrial zone to curb pollution

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VietNamNet Bridge - Southern Dong Nai province has decided to remove the Bien Hoa Industrial Zone 1 at a cost of more than VND11 trillion ($523.8 million) to reduce pollution on the Dong Nai River. The project will be carried out by Sonadezi Corporation from now to 2025, with three phases. Almost 50% of the capital will be used to assist factories inside the IZ. Most businesses will be moved to the Giang Dien IZ in Trang Bom district. After the relocation, the entire land area of the current … [Read more...]

US Group discusses VN’s Civil Nuclear Program

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VietNamNet Bridge - US-based Lightbridge Corporation's Executive Chairman, Thomas Graham, met today in Hanoi with Deputy PM Hoang Trung Hai to discuss continued support of that nation's emerging civil nuclear energy program. Deputy Prime Minister Hai told Graham that Lightbridge's continued advisory support was essential as the government's agencies develop clean, safe, affordable nuclear energy to support the nation's economic growth. In meetings with Deputy Minister of Science and … [Read more...]

Disabled man saves lives at ‘point of death’

Life guard in action: Nguyen Van Xa working by his thatched hut to prevent railway deaths.

VietNamNet Bridge - Saddened by fatal accidents at an unmanned railway crossing near his house, Nguyen Van Xa decided to ignore his disability, age, failing health and public skepticism to become a self-appointed guard. Nguyen Ha tells the story. The intersection of Highway 5 Railway and Du Nghia Village Road in the port city of Hai Phong has witnessed numerous accidents that have claimed scores of lives. … [Read more...]

Nhieu Loc Canal – a time to revive

A view of Nhieu Loc-Thi Nghe Canal.

VietNamNet Bridge - For those who have lived along Nhieu Loc-Thi Nghe Canal for decades, the scenery there 20 years ago is unthinkable now. A place where people kept at arm's length in the beginning has been transformed into a converging point for city dwellers as well as visitors. And further transformation is in the pipeline. All along Nhieu Loc-Thi Nghe Canal has changed dramatically. The gloomy picture of slums clinging along the stinking, stagnant water flow is now replaced by high-rise … [Read more...]

HCM City to train people abroad for metro line work

Engineers from Viet Nam and Japan study a model of the Ben Thanh - Suoi Tien metro line. 1,000 engineers and workers will go abroad for training in urban railway operation starting next year. - Photo tuoitre.vn

VietNamNet Bridge - HCM City will send 1,000 engineers and workers abroad for training in urban railway operation in preparation for the Ben Thanh-Suoi Tien metro line, set to open in 2016. Those selected will be sent to Japan, South Korea and Singapore starting early next year. Deputy head of the HCM City Urban Railway Management Board, Le Khac Huynh said that the board-devised training programme was to ensure there was no lack of high-quality workers to operate the urban railway system. … [Read more...]

SOE staff productivity remains low, salaries high

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VietNamNet Bridge - Managers of state-owned enterprises (SOEs) complain they receive "starvation wages", but labor experts say the salaries are too high compared with their productivity. Prime Minister Nguyen Tan Dung said at a working session with the Ministry of Industry and Trade (MOIT) on October 2 that the power sector's most serious problem is not the price of electricity, but low productivity of staff. Dung asked the Electricity of Vietnam (EVN) to cut waste in its organization after … [Read more...]

HCM City suspends safety-tip leaflets to foreign tourists

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VietNamNet Bridge - A police official said leaflets containing safety tips for foreigners will be suspended by the HCMC Police Bureau, following a complaint made by someone. On October 23, leaflets with the title "Prevention is better than a cure" were handed out to foreign tourists by police in Pham Ngu Lao Ward (area for foreign backpackers), District 1, Ho Chi Minh City to provide them with tips to ensure their safety in the city. The leaflets, titled "A few travel reminders for a hassle - … [Read more...]

Enjoying Sapa budget-minded diner’s way

Central Sapa Town

VietNamNet Bridge - There are high-quality touring services available when one visits Sapa in the northern mountainous province of Lao Cai, there are many high-priced things in the mist-enveloped town for ones to empty their pockets, and there are also top-notch accommodation facilities there for well-to-do tourists. However, to really enjoy the nature-blessed town, most visitors to Sapa often choose the opposite way around. In this regard, roadside food vendors there offer budget-conscious … [Read more...]

Int’l forum offers recommendations on climate-change adaptation

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VietNamNet Bridge - After three days of discussion, the international forum on building resilience to climate change impacts in coastal Southeast Asia, held by the International Union for Conservation of Nature (IUCN) in Cambodia, released a declaration with 39 recommendations for the governments of Vietnam, Thailand and Cambodia. More than 200 representatives of Vietnam, Thailand, and Cambodia confirmed climate change impacts are happening and committed to work more strategically to adopt the … [Read more...]

New enrolment scheme raises concerns about virtual students

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VietNamNet Bridge - With the new regulation that allows students to register to study at up to nine schools, educators fear the number of virtual learners will be very high. The Ministry of Education and Training (MOET) is drafting a new enrolment mechanism, expected to be applied from 2015. Under the draft, every high school graduate would be allowed to register at nine schools. Twenty days after MOET makes public the results of high school finals, students can begin registrations and pay … [Read more...]

Textile investors wary of high industry costs in Vietnam

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VietNamNet Bridge - Many investors in the textile and garment sector would like to take full advantage of the benefits they would receive under the proposed TPP (Trans Pacific Partnership Agreement) and the FTAs (free trade agreement) with the EU and South Korea. However, investment needed for such projects, particularly for raw materials, is prohibitively high, they contend. Though Vietnam aims for a 80 per cent ratio of locally made content in garments by 2020 from the current 45 percent, … [Read more...]

Former Tourism Ambassador invites foreign billionaires to Lynk Fashion Show in VN

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VietNamNet Bridge - Actress and entrepreneur Ly Nha Ky is busily preparing for a fashion show with the participation of two foreign designers and world celebrities. Ly Nha Ky and Mouna Ayoub at the Paris Fashion Week 2014. The show - named Lynk Fashion Show - is scheduled on November 11 at the Reunification Palace in Ho Chi Minh City to introduce 40 designs for Spring Summer 2015 by Toni Maticevski (Australia) and Peet Dullaert (Netherlands). Lynk Fashion Show will host more than 200 special … [Read more...]

Quang Ninh’s town immersed because of dam break

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VietNamNet Bridge - A dam in Dam Ha district of the northern coastal province of Quang Ninh was broken this morning after one-day long heavy rains, submerging hundreds of houses. Quang Ninh's Vice Chairman Dang Huy Hau says that the local government has urgently evacuated people in the submerged or the flood risk areas to the safe places. Mr. Vuong Dinh Viet, Deputy Director of the Department of Agriculture and Rural Development of Quang Ninh says: "We still don't know about the causes of the … [Read more...]

Vietnam kicks off international bond sale plan

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VietNamNet Bridge - According to Reuters, the Ministry of Finance has chosen three foreign banks - Deutsche Bank, HSBC and Standard Chartered - to hold roadshows to introduce Vietnam's upcoming bond sales to international investors. The first roadshow took place on October 29 in Singapore. The next events will be held in Hong Kong on October 30, in London on October 31, Boston on November 3, New York on November 4 and San Francisco on November 5. Earlier, at a regular government press … [Read more...]