Illustrative image (Photo: dauthuanvien.blogspot.com) Hanoi (VNA) – The wrongdoings in State-owned Mobifone’s acquisition of the Audio Visual Global Joint Stock Company (AVG) are attracting public attention, with wide expectations that the case should be handled strictly and lost State asset must be recovered. Inspection of the acquisition was launched in September 2016, but due to the complicated nature and seriousness of the deal, the Government Inspectorate (GI) only released conclusion on the inspection outcomes on March 14. Mobifone’s purchase of 95 percent of AVG was a major deal between a State-owned enterprise and a private company, but what made it come under spotlight was the lack of transparency. In the first quarter of 2016, Mobifone announced the decision to buy 95 percent of AVG, but did not disclose the value of the transaction. The company’s leadership refused to answer the press on this question, claiming that it was classified information. … [Read more...] about Public expects strict handling of wrongdoings in Mobifone’s acquisition of AVG
Legislative law making
There are three problems which may make foreign investors shrink when considering investment in transport infrastructure projects in Vietnam. Minister of Transport Nguyen Van The, speaking at the National Assembly session discussing the Investment Law under the PPP mode on November 11, said that the ministry has promoted investments under the mode, but Vietnam can only attract Vietnamese investors. Minister of Transport Tran Van The It has been very difficult to attract foreign investors to large projects. There are three problems which may make foreign investors shrink when considering investment in transport infrastructure projects in Vietnam. First, they want the government of Vietnam to ensure their revenue and share risks with them. As Vietnam’s development plans change regularly, they fear risks. Meanwhile, when they finish projects, one dollar may be exchanged for VND15,000 or VND25,000. Because of the price fluctuations, they may make profit if calculating in … [Read more...] about What do foreign investors worry about when investing in VN infrastructure projects?
China constructs an illegal runway in Fiery Cross Reef on the East Sea. (Photo: AFP) Washington D.C (VNA) – China and other concerned nations should refrain from actions that further militarise the East Sea and parties need to sit down for negotiation via diplomatic channels to resolve the issue, according to an US expert. China’s growing militarisation of the East Sea makes the situation more complicated and probably causes misunderstanding in an area that has already suffered from many conflicts and complexity, Lindsey Ford, Director for Political-Security Affairs at the US’s Asia Society Policy Institute told Vietnam News Agency during a recent briefing by the University of Pennsylvania’s global research centre Perry World House. The briefing aimed to discuss latest developments in the regional diplomacy, legislation and military as well as policies of the governments of the US, China and other countries regarding to East Sea issues. It was also attended … [Read more...] about US experts: China should refrain from actions further militarising East Sea
Friday's Tale Chaotic condotel business By Son Nguyen Thursday, Dec 5, 2019,20:42 (GMT+7) Chaotic condotel businessBy Son Nguyen All are in a mess – for State agencies, localities, businesses, and property buyers – after the owner of the property project Cocobay in Danang City announced that it could no longer live up to its promise of paying an annuity of 12% for buyers of its condotel units. The shockwave is felt, not only because of the extent of imminent damages caused by the project’s failure as Cocobay is probably the biggest condotel project in the country. Rather, it is because the collapse of this business model at Cocobay is seen having a domino effect on a business sector that has shot to “stardom” lately. Confusion is also seen as authorities rush to handle projects that are now moving to brinksmanship in the absence of a legal framework. The collapse, say experts, is just a matter of … [Read more...] about Chaotic condotel business
Hanoi (VNA) – The Government has gradually reduced the number of compulsory drug rehabilitation centres and increased community or family-based recovery support models. Counseling on behavioral intervention for drug users (Photo: VietnamPlus) However, high post-rehab relapse rates have for years posed a challenge to rehab service providers, who are now encountering new meth addicts, forcing these firms need to make their services more suitable. High post-rehab relapse rate Head of the anti-social vice department of the Ministry of Labour, Invalids and Social Affairs Nguyen Xuan Lap said prior to 2017, heroin was mainly found in Vietnam. From 2017 to now, amphetamine-type stimulants (ATS), such as cocaine, ecstasy and methamphetamine, have become more popular. Reports from the Ministry of Public Security and the Anti-social vice department of the Ministry of Labour, Invalids and Social Affairs have said drug use remains complicated as users of ATS account for 70-75 percent … [Read more...] about More services support drug rehabilitation