Cell phone buying energy not as strong as expected

a-staff-member-of-thegioididong-com-prepares-for-product-delivery-816621-20130125100842-te1-100x100

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 the impact of economic downturn, said Huan. The latest statistics of Thegioididong.com show that its cell phone sales fell slightly in December last year and the sales volumes and revenues of the other months were almost the same, without any sudden growth. On average, the retail chain sold around 300,000 cell phones per month. Other mobile phone retailers like Mai Nguyen, FPT Shop, Vien Thong A and Viettel Smart also record modest growth in purchasing power. Smartphones with reasonable … [Read more...]

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, representing 64% of the total. IPs have lured 78 investment projects, including 42 operational ones. They enticed VND7,200 billion worth of investment in 2012, trebling the figure in 2011. Phu Quy wind farm opens The 6-megawatt Phu Quy wind farm in Phu Quy island district , Binh Thuan province began full operation on January 24, after a successful testing period in August, 2012. The wind farm, funded by the PetroVietnam Power Corporation, is the first one in Vietnam that uses both … [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 necessary procedures under Vietnamese law for this deal. "We don't know if we have to report to the central agencies in Hanoi, or if reporting to HCMC is enough," he wondered. In response, Vice Chairman Ha said the municipal government would review the project document next week and then give appropriate guidelines. "Normally, the authorities that license a project will handle changes in that project. However, when it comes to real estate, there are complicated regulations, so a careful review … [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 make VND17 trillion despite the difficult economic situation. Its two subsidiary companies, FPT Information System and FPT Trading Company, will go public this year. … [Read more...]

Coal industry suffers $25 million in damages after floods in Quang Ninh

1715978-20150731094311-1

VietNamNet Bridge – A representative of the Vietnam Coal and Mineral Industries Group (Vinacomin) said on Wednesday that the torrential rains in Quang Ninh, Vietnam's kingdom of coal, caused losses of about VND500 billion (nearly $25 million) for the group. Most of the coal mining firms have halted production. Related news Image: Quang Ninh people seach for coal in flooded stream Heavy rains flooded coal mines of many companies like Quang Hanh, Ha Lam, Mong Duong, and 790, and damaged coal railways in Cua Ong and Hon Gai. Ha Lam Coal Company lost about 7,000 tons clean coal, which was washed away to streams and the sea. Two coal mines of Ha Tu Coal Company were completely submerged. Roads from Ha Lam and Ha Tu coal companies to the port of Lang Khanh were eroded. At Hon Gai Coal Company, heavy rains caused landslides on some internal roads and one of the coal grounds was covered with 2,000 cu.m of soil from the broken Ha Tu damp. Heavy losses also were incurred by the … [Read more...]

How did Vietnam football benefit from Man City’s tour?

1715975-20150731094147-1

VietNamNet Bridge – Manchester City was highly paid by the Vietnamese partner and had an opportunity to advertise its name when it visited Vietnam. How did this benefit Vietnam? The trip to Vietnam of Man City will certainly help promote the England team’s image in Vietnam and increase the number of Vietnamese fans. The more Vietnamese fans they have, the more royalties the club can get from the TV rights of the English Premier League. One of the principles of sharing TV royalties of English football clubs is the direct broadcasting of their matches on pay television channels each season. TV broadcasters will air the matches viewers are interested in and the more fans FCs have, the more money they will get. Thus, Man City benefits a great deal from its trip to Vietnam. On the side of the Vietnamese partner, Saigon Hanoi Bank (SHB), SHB’s boss Do Quang Hien said Man City’s tour to Vietnam was not completely flawless, but bringing Man City to Vietnam was … [Read more...]

Public fear MOET education reform will demotivate students

1715973-20150729094205-edu-diploma

VietNamNet Bridge - The Ministry of Education and Training (MOET) has once again stirred up the public with the announcement that the information about training (full time, continuing education, or refresher training courses) and graduation grades will be shown on high school diplomas. Le Thi Hoang Vy from Ba Diem High School said: "It would be unfair for students not to show the graduation grade and training mode on diploma." "The ability of students must be shown on a diploma as recognition of their achievements," she said. The girl went on to say that the diploma will ‘not have much significance’ if there is no detailed information about students’ capability. "The diploma to be received by average students will be just like the one to be obtained by students who make great efforts in study," she commented. "If I had known about this, I would not have spent too much time on learning, because I just needed a score of 5 for every exam subject to pass the … [Read more...]

Hanoi’s population increases by 200,000 per year

1715959-20150730134152-1

VietNamNet Bridge – The Hanoi Department of Population and Family Planning has said that each year the city’s population increases by about 200,000 people, equivalent to the population of a large district. Of the new population, about 120,000 are newborn children and the rest are migrants. The department’s director, Mr. Ta Quang Huy, said the increase of population posed a difficult problem for the future social and economic development of the capital city. Hanoi’s population is the second largest in Vietnam, only behind HCM City. Notably, gender imbalance at birth and the number of families having the third child are on the rise. The number of women entering reproductive age in the city is over two times higher than the number of women out of childbearing age. The high number of migrants to Hanoi is also a big problem. Huy said that the number of couples giving birth to their third child is increasing because the current law does not have any sanction on … [Read more...]

Submarine inventor: Vietnamese sub fleet will keep pace with Seventh Fleet

Yet Kieu sub invented by Phan Boi Tran

VietNamNet Bridge - Phan Boi Tran, Yet Kieu submarine inventor, estimates that it will take VND2 billion, or $100,000, to create equipment powerful enough to sink a destroyer worth hundreds of millions of dollars. Phan Boi Tran is a composite material expert who has become famous in Vietnam and Asia after creating the Yet Kieu submarine, which has been put into commercial development with tens of products exported to Malaysia. In the latest news, Tran is going to leave for Thailand where he will make 300 subs to fulfill an order placed by a Thai partner. Tran, the man who dreams of turning "mini toys" into combatant submarine, has said he will use the money he is going to get through inheritance to create an ammunition complex. The complex, estimated to cost VND2 billion, would comprise one submarine, two torpedoes and the third modular system. "The 6-meter submarine and the two torpedoes will serve as an offensive weapon, while module No 3 will give logistics support," he … [Read more...]

Breeding insects for export, a new industry for VN

Mr. Dung's cricket farm in Long An Province.

VietNamNet Bridge - The most difficult procedures in insect export is asking for the certificate of quality, size and the certificate of origin for insects. After nearly ten years breeding crickets, Mr. Truong Thanh Dung has developed a cricket farm in Duc Lap Thuong commune, Duc Hoa district, Long An province. Dung said that his farm supplies the domestic market with 5-6 tons of crickets each month, priced VND100,000/kg (nearly $5). "It is not difficult to raise crickets. A basket of crickets yields 50-60 kilos of commercial crickets after 40 days," he said. According to Dung, both Vietnamese and foreigners like dishes processed from insects. His farm is looking for partners to export frozen crickets to the regional market. Insects are favored by many countries in the region and the world because insects are rich in protein and minerals beneficial to the human body. Thailand, Cambodia, Laos and Myanmar have developed the insect breeding industry for domestic needs and export. In … [Read more...]

Criteria for evaluating hi-tech enterprises in Vietnam

VietNamNet Bridge - Enterprise revenue, average total expenditure, number of workers, etc. are some of the new regulations on the conditions to become a hi-tech enterprise. The existing 2014 Investment Law and Decision No. 19/2015/QD-TTg have adjusted the content at Article 18 of Law on High Technology No. 21/2008/QH12 concerning the criteria used to evaluate hi-tech enterprises. First of all, hi-tech products produced by the enterprise must be on the List of hi-tech products prioritized for development investment under the provision of Article 6 of the 2008 High Technology Law. Specifically, such products are required to satisfy the following conditions: ● Having a high added-value ratio in the product value structure; ● Being highly competitive and creating great socio-economic benefits; ● Being exportable or able to substitute imports; ● Contributing to the improvement of national scientific and technological capacity. Second, not only is it compulsory for enterprises to … [Read more...]

Image: Quang Ninh people seach for coal in flooded stream

The province is now struggling to overcome the aftermath of the flood, considered the largest in 40 years. However, it is forecast that Quang Ninh may have more rain in the coming days.

VietNamNet Bridge – Heaving rains and floods in Quang Ninh province have washed away coal supplies into local streams, where people are risking their lives to find it. Hundreds of people in Cam Son and Cam Phu communes in Cam Pha city, Quang Ninh province, have headed to B5-12 stream to collect coal after recent major flooding washed millions of cubic meters of coal out of the storage facilities of local coal companies. Over the last three days, 600 to 800 millimeters of rain has fallen in the Quang Ninh area, collapsing houses and triggering landslides. Eighteen people have died and six are missing. Despite warnings from Cam Pha city authorities, about 100 people have been hunting for coal. The stream is so deep that they must dive deep into the black water to collect it. They are very much at risk from potential fatal injury from debris in the stream. Yet they continue, with some hiring excavators and trucks to extract the coal and take it home. Some people have rented … [Read more...]

Animal husbandry association requests anti-dumping investigation of US chicken

1715562-20150730133355-1

VietNamNet Bridge – The Southeast Region Livestock Association has asked the Prime Minister, the Ministry of Industry and Trade and the Ministry of Agriculture and Rural Development to conduct anti-dumping investigation against imported US chicken thighs. The Association said that it had sent its staff to America to collect data on the prices of chicken and chicken products (legs, wings, breast ...) in the US market. The average price for whole chickens at US supermarkets is VND200,000 ($9.5)/kg, but in Vietnam the price is only VND60,000-70,000 ($2.8-3.2)/chicken. Similarly, in the US the price for a kilo of chicken thighs is VND60,000-70,000/kg ($2.8-3.2), but in Vietnam it is only VND20,000/kg ($0.9). The association said that the price difference is abnormal. Chicken imports from the US are rising year on year and the price is getting cheaper, the association said. For example, the average price of US chicken thighs two years ago was at $1.2-1.5/kg but it was only … [Read more...]

Thai products flood Vietnam market

1715560-20150727073419-thai

VietNamNet Bridge - Thai businesses have been quietly, step by step, conquering the Vietnamese market using a methodical and reasonable strategy. Vietnamese businesses cannot do anything but just watch as Thai products penetrate the home market. Thai products can be seen everywhere, gradually replacing cheap Chinese low-quality goods on supermarkets’ shelves and at pavement shops. "In the past, Chinese motorbike accessories flooded the domestic market, but 70-80 percent of the products available in the market are from Thailand," said Hai, a distributor of Michelin tires, a Thai brand well known in Vietnam. Thai tycoons in recent years have been flocking to Vietnam, taking over a series of Vietnamese distribution chains. The move were described as a step to clear the way for Thai products to penetrate the home market. Thai BJC Group, for example, spent $876 million to take over Metro Cash & Carry Vietnam. Meanwhile, Thai Corporation International, a subsidiary of BJC, … [Read more...]

Russian destroyer Admiral Pantelev to visit Da Nang

1715556-20150730134430-1

VietNamNet Bridge - One of the leading destroyers in the world, Admiral Pantelev, and the two escorts of the Russian Pacific Ocean Fleet, will pay a three-day visit to the central city of Da Nang. The Da Nang Department of Information and Communication said the fleet of the Russian Navy includes destroyer Admiral Pantelev, tug-boat SB-522 and tanker Penhega, with 483 officers and sailors, led by Colonel A.V Potapov. The welcome ceremony will be organized on the morning of July 31, with the representatives of the Ministry of Defense, Navy High Command Region 3 and Da Nang authorities. Admiral Panteleyev is a Udaloy-class destroyer ("large anti-submarine ship") of the Russian Navy. The ship was built in 1987 at Yantar Shipyard (Kaliningrad) and launched in 1988. It was commissioned on May 1, 1992. BASIC CHARACTERISTICS Speed: 29.5 knots Crew: 293 men Total displacement: 7,480 tonnes Length: 163 meters Beam: 19 meters Draft: 7.8 meters ARMAMENT 8 Rastrub rocket … [Read more...]

Local livestock association requests anti-dumping investigation of US chicken

1715554-20150730133355-1

VietNamNet Bridge – The Southeast Livestock Association has asked the Prime Minister, the Ministry of Industry and Trade and the Ministry of Agriculture and Rural Development to conduct anti-dumping investigation against imported US chicken thighs. The Association said that it had sent its staff to America to collect data on the prices of chicken and chicken products (legs, wings, breast ...) in the US market. The average price for whole chickens at US supermarkets is VND200,000 ($9.5)/kg, but in Vietnam the price is only VND60,000-70,000 ($2.8-3.2)/chicken. Similarly, in the US the price for a kilo of chicken thighs is VND60,000-70,000/kg ($2.8-3.2), but in Vietnam it is only VND20,000/kg ($0.9). The association said that the price difference is abnormal. Chicken imports from the US are rising year on year and the price is getting cheaper, the association said. For example, the average price of US chicken thighs two years ago was at $1.2-1.5/kg but it was only … [Read more...]

Singer Le Quyen fined for allowing her son to urinate in a sick bag

The photo of Le Quyen on the flight was taken by a passenger.

VietNamNet Bridge – Well-known singer Le Quyen, 34, and his husband will have to pay VND4 million (nearly $200) fine each to allow their son to urinate in a sick bag on a flight of the national carrier Vietnam Airlines on July 16, according to a decision of the inspectorate of the Civil Aviation Administration of Vietnam (CAAV). Although the face was hidden many people quickly realized that it was the singer in the photo. According to the CAAV, on the flight VN 240 from Saigon to Hanoi on July 16, when the plane was reducing altitude for landing at the Noi Bai Airport, the stewardess informed passengers of activities for safety, including the limitations on the use of the restrooms. However, singer Le Quyen and her husband allowed their 4-year-old son to urinate into a sick bag, causing a 'splatter' of urine to hit the interior. As reported by the chief flight attendant, when she was checking the cabin to prepare for the landing, when the plane was close to 10,000 feet of … [Read more...]

Hanoi to have 19 new street names

The road section section along the West Lake from the end of Thanh Nien Street to Trich Sai Street will be named after the well-known writer and composer, Nguyen Dinh Thi. — Photo tiin.vn

VietNamNet Bridge – Two road sections in Ha Noi's Tay Ho District will be named after two of Viet Nam's famous artists following a decision signed by the Chairman of the city's People's Committee, Nguyen The Thao, on Monday. Under decision No 3517/QD-UBND, naming 19 new roads and changing the length of three streets, a 2.2-km long section along the West Lake from the end of Thanh Nien Street to Trich Sai Street will be named after the well-known writer and composer, Nguyen Dinh Thi (1924-2003). Thi belonged to the generation of artists who participated in defeating the French in the 1950s. His works included essays on philosophy, poetry, music and drama. Another 900-metre-long section, running from number 612 Lac Long Quan Street to the intersection of Au Co Street with the city dyke, will be named after the famous composer, musician, songwriter, painter and poet Trinh Cong Son (1939-2001). He is widely considered one of salient figures of modern Vietnamese music and wrote … [Read more...]

Vietnamese stock market: favorable conditions converge

1715350-20150727073047-stock31

VietNamNet Bridge - All the favorable conditions for the stock market to prosper can be seen at this moment: open policies, the strong recovery of the national economy, interest of international investors in Vietnamese stocks, and strong capital flow to frontier markets. Never before has the Ministry of Finance (MOF) paid so much attention to the stock market as it is doing now. Chair of the State Securities Commission (SSC) Vu Bang said the ministry has meetings every day with the commission to discuss issues relating to the legal framework, especially after Decree No 60 on lifting the ceiling for foreign ownership ratio was promulgated. The Prime Minister’s Decision No 55 dated in 2009 stipulated that foreign investors must not hold more than 49 percent of the chartered capital in one Vietnamese listed enterprise. Bang said the Vietnamese officials’ meetings with the US investors in early July brought outcomes better than expected by the government and ministries. … [Read more...]

MOIT: Coal-run thermal power plants still only choice in Vietnam

1715326-20150723071633-sictech-thermo

VietNamNet Bridge - Vietnam will continue developing coal-run thermal power plants in the upcoming years despite the anticipated impact on the environment, as no better solution has been found. Hoang Thanh Binh from Green ID, which has just conducted a survey on the coal-run thermal power plants’ influence on the environment, said the "influences are really serious". The survey has found that greenhouse gas emissions from the plants from 2014 to 2022 are expected to account for 63 percent of total greenhouse gas emissions from thermal power plants. The plants will also affect the ecosystem, agricultural production, construction works and people’s health. The plants will produce a huge volume of slag, estimated at 14.8 million tons a year from 2020, while the figure would be 29.1 million tons from 2030. Meanwhile, Tran Dinh Sinh, deputy director of Green ID, quoting a Harvard University’s report as saying that 3.2 million people died young because of the … [Read more...]