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 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...]

Image: The most beautiful coastal roads in Vietnam

VietNamNet Bridge - Stretching from Binh Thuan, Ninh Thuan, Khanh Hoa, Phu Yen to Binh Dinh, the south-coastal region has the most beautiful coastal roads in Vietnam. Let’s look at the beauty of the sea and islands in the region from the nameless beaches to the famous beaches and the bays of coastal cities.1. Binh Thuan Only about 150 km from Ho Chi Minh City, Binh Thuan is well-known for Mui Ne and Phan Thiet – the capital of resorts in Vietnam - with blue beaches, coconut trees and the sand dunes. Binh Thuan sea is has the wild beauty of the ocean. The best option for you is to visit Lagi beach town, Ke Ga in Ham Thuan Nam or the ancient stone ground of Co Thach in Tuy Phong district. 2. Ninh Thuan Ninh Thuan, with its capital city of Phan Rang - Thap Cham, deserves to be one of the most mysterious areas in Vietnam. This is where you will experience things that you have never seen, from watching the sheep in the sunset in Ca Na, to enjoying grapes in the grape … [Read more...]

Vietnam pays heavy price for incinerator imports

VietNamNet Bridge - While Vietnamese made medical and domestic waste incinerators are finding it difficult to enter the commercial market, foreign-made incinerators have been imported in great numbers. Vinh Phuc, Phu Tho, Nam Dinh, Thai Binh and Bac Giang provinces have all imported small-scale incinerators to treat domestic waste The outdated equipment is unsuited to Vietnamese conditions. While many countries now say ‘no’ to incineration technology, Vietnam pays the price for buying the machines. Trinh Dinh Nang from Hoa Tu Long Thermal Industry Company in Bac Kan province was not surprised after hearing that Vinh Phuc Province’s Science & Technology Department imported an NF105 incinerator worth VND2.25 billion from Thailand and another seven incinerators later. He knew that Vietnamese preferred foreign-made products rather than domestically made ones. However, he said foreign-made incinerators might do more harm than good. There are differences in … [Read more...]

Viettel, VinaPhone take action, network operator war kicks off

VietNamNet Bridge - VinaPhone has launched a big sale promotion campaign, while Viettel plans to provide 4G services soon. All players have geared up for the competition in the new development stage, with Viettel considered the dominant enterprise. VinaPhone has offered additional 100 percent of scratch card value to its prepaid subscribers in its biggest sale promotion campaigns in recent years. The move kicks off a new war among the three largest mobile network operators. In fact, analysts all foresaw that VinaPhone would ‘do something soon’ after Viettel, with 52 percent market share, became the nation's dominant telecommunications firm, especially after Viettel mentioned its plan to provide 4G services in the time to come. The military telecom firm affirmed that it will provide 4G services with features and utilities much higher than 3G, but at 3G fees. Under current laws, businesses accounting for over 30 percent of the market share are required to register with … [Read more...]

Overseas Vietnamese rush to pour money into real estate (part 2)

VietNamNet Bridge - Real estate firms all have confirmed a significant increase in the number of buyers from overseas recently, both overseas Vietnamese and foreigners. Related news Overseas Vietnamese rush to pour money into real estate Phu My Hung Company reported more than 100 successful transactions between the company and overseas customers from early July to August 8. According to Phu My Hung’s general director Truong Quoc Hung, the Phu My Hung new Urban Area has attracted 30,000 residents since the day of establishment; 50 percent of them are foreigners, including Viet Kieu. Hung believes that with the new law allowing foreigners to buy houses in Vietnam, the number of foreigners and Viet Kieu buying houses under their real names will increase in the time to come. A real estate expert in HCM City noted that Viet Kieu are eyeing a wide range of real estate products, from high-end apartments and luxury beachfront villas to lower-end apartments. He said many people … [Read more...]

Travelling and shopping around Asia with Vietjet

VietNamNet Bridge- Beautiful Korea and Taipei, ancient Yangon and the shoppers’ paradises of Bangkok and Singapore are all awaiting visitors following the news that Vietjet is giving away 400,000 promotional tickets on all its domestic and international routes. The special week-long campaign themed: "Enjoy flying-It’s time to Vietjet", has surprised passengers with massive discounts and wide variety of routes. Besides domestic routes, low fares will also apply for flights to other Asian destinations including Seoul, Taipei, Singapore, Bangkok and Yangon. Through this promotional campaign, Vietjet’s vision is to pioneer a change in the way people travel and give them opportunities to enjoy vacations the year-round holidays in attractive tourism destinations, a Vietjet representative said. Tran Minh Ngoc from an entertainment company in HCM City said it’s hard for her family to take summer vacations together as her husband works for a tourism … [Read more...]

In photos: The busiest road in Nha Trang

VietNamNet Bridge - Visitors to the famous beach city of Nha Trang all choose Tran Phu, the busiest coastal road, as the center for all activities during their holidays. The 12-km road is home to the most famous restaurants, bars, fashion boutiques, and entertainment centers in Nha Trang. Tran Phu Road starts from the wharf, running along the coast towards the north, crossing the Cai River. The central point of Tran Phu Road starts at the Hoang Dieu intersections. The runway of the old airport. Nha Trang sea and sky are always blue whenever the weather is nice. Visitors usually wait to see a romantic sunrise along this road every morning. At dawn, people often run along the road as their morning exercise. 2/4 Square - downtown Nha Trang. Amid the square is the famous Tram Huong (Agarwood) Tower, the symbol of Nha Trang. Tran Phu is the most modern and bustling road in the city; traffic is very good. Nha Trang Bay, one of the most … [Read more...]

Young woman with aging face

VietNamNet Bridge - "Over the past 25 years, the aging disease has dogged and abused me. I feel like I’m imprisoned in hell on earth, living is worse than death," said Nguyen Thi Ngoc Mai, the 31-year-old woman in Hoi An town who has aged 50 years. Related news Quang Nam’s woman also becomes an old ladyDoctors identify cause of aging in womanAged woman gets younger thanks to her belly fatNew life of the young girl in the aged faceAfter surgery in Taiwan, aging woman gets old again One day in early August 2015, in a small house in Cam Chau Ward, Hoi An Town, Quang Nam Province, Mai curled up on a worn mattress. Although she is just 31, Mai looks like an 80-year-old woman. After cleaning the face of her daughter, Mrs. Nguyen Thi Mut, 55, Mai’s mother, said: "Since early 2015, my daughter has been getting weak very clearly. Her limbs are shriveled up. She cannot do anything. She even needs help to tidy herself up." Mut said two years ago, thanks to assistance of … [Read more...]

Ash treatment required before thermal-power plant construction

VietNamNet Bridge - The government has told investors not to build coal thermal power plants if they don’t have solutions to treat ash, thus causing pollution. The decision was issued after the Electricity of Vietnam (EVN) invested in the Vinh Tan 2 thermal power plant some months ago. As the coal ash was not treated well, it was dispersed into the environment, causing pollution and threatening the health of thousands of households nearby. The problem was so serious that hundreds of people in Binh Thuan province intercepted vehicles on Highway No 1 to protest against pollution caused by coal residues. One of the biggest problems of Vinh Tan 2 is that it is located in an area with the strongest wind in the country, an unsuitable position for a coal plant. Deputy Prime Minister Hoang Trung Hai has instructed the Ministry of Industry and Trade (MOIT) to ask plants to create solutions on using ash to build rural roads and building materials. MOIT will focus on plants with … [Read more...]

Unemployed university graduates beg for jobs

VietNamNet Bridge - A young man, introducing himself as a new university graduate and a young father who needs money to buy milk for child, was seen standing on a Hanoi street with a board in his hands, showing that he wanted a job. Pham Van Thanh from the Youth Union’s Job Center (right) talks with students "Toi vua tot nghiep. Toi da la bo. Toi can mot cong viec de mua sua cho con" (I have just graduated from a university. I am a father. I need a job so that I can earn money to buy milk for my child), the board said. The young man’s behavior has raised controversy among the public. Some netizens commented on an education forum that this was ‘absolutely shameful behavior" which university graduates, or people with a higher education level, should not have. An article about the man published on an online newspaper started with the title "Cam bien dung giua duong xin viec: Nhuc nha thay cho mot cu nhan" (Standing on median to beg for a job – it’s quite … [Read more...]

VND devaluation won’t affect public debt: economists

VietNamNet Bridge - Contrary to all predictions, economists have reassured the public that the weaker dong will not worsen the public debt burden of the state. Nguyen Tri Hieu, a renowned banking expert, though lauding the State Bank’s decision to devalue the dong, warned that the weaker dong will worsen the public debt, which is now at an alarming level. "The government and business debts in foreign currency account for a relatively big proportion of the total public debt. Therefore, the debt duty will be heavier," he said. However, Dr. Nguyen Duc Thanh, head of the Vietnam Economics & Policy Research Center (VEPR), said the dong/dollar exchange rate adjustment would make the public debt increase. Thanh said Vietnam’s foreign debts are not only in US dollar, but also in Japanese yen and euro. Meanwhile, yen and euro have depreciated rapidly in recent months. This means only debts in US dollars will become bigger if they are calculated in dong. Thanh, who … [Read more...]

Vietnam has reasons not to sharply devalue the dong

VietNamNet Bridge - If Vietnam devalues the dong sharply, regulatory agencies will find it difficult to implement the plan to slash medium- and long-term bank loan interest rates, and the public debt will become worse. A report by the Hong Kong and Shanghai Banking Corporation (HSBC) shows that the Vietnam dong has appreciated by 9 percent compared with last year, if considering the RER (real exchange rate), the sharpest appreciation level since 2000. Analysts, therefore, have one more reason to criticize the State Bank for keeping the dong/dollar exchange rate stable too long, which they say hindered economic development and exports. Le Xuan Nghia, head of the Institute for Business Development, noted that while the SBV’s forex trading band widening by one percent on August 11 could be seen as the response to the 4.6 percent Chinese yuan devaluation, the foreign exchange rate adjustment on August 19 serves a long-term strategy. The central bank will consider the possibility … [Read more...]

Foreign investors welcome State-owned companies’ IPOs and lift on foreign-ownership ratio

VietNamNet Bridge - Bank shares and state-owned enterprises’ (SOEs) IPOs (initial public offering) have become highly attractive to foreign investors. The bank share price has increased by 23 percent on average in the last three months, which represents the sharpest increase since 2013 and a two-fold increase compared with the region’s. According to Bloomberg, the Vietnamese bank share price has seen the sharpest increase in Asia. Investor confidence in Vietnamese commercial banks increased after the Vietnam Asset Management Company (VAMC) announced it had bought VND123 trillion worth of bad debt, helping the bad-debt ratio of the Vietnamese banking sector fall from 17 percent to 3.25 percent after three years of restructuring. Meanwhile, at the M&A (merger and acquisition) forum held recently, chair of the State Securities Commission (SSC) Vu Bang said that the legal document on lifting the foreign ownership ratio ceiling would be released in August. According … [Read more...]

Images: The ancient, pristine beauty of Hai Van Gate

VietNamNet Bridge – The Hai Van (Ocean Cloud) Pass is the longest and highest mountain pass road in Viet Nam with a length of 21km. Its summit is 496m above sea level and is at the geographical boundary between Da Nang and Thua Thien-Hue Province. The pass crosses over the last spur of the Truong Son (Annamite) Range as it juts into the sea. There is no more dangerous mountain pass in Vietnam, but visitors to the Hai Van Pass will be stunned by its spectacular scenery and the harmonious beauty of the clouds, mountains and sea. The winding road over the pass has the lush jungle on one side and the sea on the other, and from far away it looks like a crooked ribbon squeezed between the land and the blue sky. Sometimes, this pass is so cloudy that visitors feel like they are stepping into a fanciful and mysterious world. On sunny days, the pass is a great place for dazzling panoramic views over Da Nang, the Tien Sa Port, the Son Tran Peninsula, the Cham Islands, and the … [Read more...]

Many business fields benefit from mobile technology

VietNamNet Bridge - Experts have predicted that many business fields will derive benefits from mobile technology as smartphones and desktop computers become more popular. A new survey by the US Gallup Institute shows that 43 percent of Vietnamese have internet connections at their homes, 94 percent of Vietnamese have mobile phones (with 37 percent being smartphones). At least 31 percent of Vietnamese access the internet with mobile devices, while only 18 percent use desktop computers and 10 percent laptops for the internet. Nguyen Truong Minh from Google South East Asia said that the number of people accessing the Google search engine with mobile devices has outstripped those using their desktop computers. Google’s report about the Vietnamese market cited three important factors in 2015 – the sharp increase in the number of mobile devices used, the increase in online shopping transactions, and the increase in demand to watch videos on internet. "It is the increase in … [Read more...]

Multi-million dollar speedboat designed by Vietnamese engineers

VietNamNet Bridge - Scientists say that designing and manufacturing catamarans and trimarans is within the capability of Vietnamese engineers. In fact, Vietnamese shipbuilding engineers have already designed a speedboat worth nearly US1 million. ' Tran Song Hai, general director of Greenline DP, the shipbuilder, said the catamaran is 16.6 meters long and has a capacity of 1,200 CV. The boat can carry 60 passengers and run at a speed of 55-60 kilometers per hour. The speedboat is expected to be put into use to carry passengers to replace old hydrofoils this November. According to the shipbuilder, the great advantage of the ship is that it does not shake much, thus protecting passengers from seasickness, while not affecting the other means of transport on the river. The speedboat was made of imported materials. With a production cost at $1 million, the ship is much cheaper than imports, just 1/3 of the price of products of the same kind sourced from Europe. Vuong Chi Dan, a … [Read more...]

Bac Ninh’s people must live with pollution

VietNamNet Bridge - "The children in our village cannot have fun or breathe fresh air," said Nguyen Van Toan, head of Duong O hamlet in Bac Ninh province. Khac Niem, the famous rice vermicelli village in Bac Ninh province, is located not far from Phong Khe paper village. In the past, rice vermicelli was carried out everywhere in the north by bicycle. But nowadays, as the production scale has expanded, rice vermicelli is carried away by pick-ups. Tens of pick-ups, following each other, carry tons of rice vermicelli to neighboring provinces and Hanoi every day. A lot of households in Khac Niem village have prospered thanks to rice vermicelli. However, while poverty has gone, another big worry has come – pollution. It is estimated that more than 200 vermicelli making households in Khac Niem discharge 5,000 cubic meters of waste water every day. The waste water floods the canals in the village and poisons the air. Six years ago, a waste water treatment system was set up to … [Read more...]