>> Capital priority given to production, business>> Inflation reaches record highs in first quarter>> Black market for USD thrives despite ban>> More reasonable policies for gold market neededVietnamese investors are hesitant to make decisions about where to place their assets, amid rising inflation and other uncertainties in the market.Vietnam’s CPI in March is estimated to grow by 2.2%, compared to 1.74% in January, and 2.09% in February. The Ministry of Planning and Investment said that, the first quarter’s CPI will rise of 6.1%, which would a new record. An uncertain gold marketGold has always been a safe haven for investors. Yet trading in gold bars has decreased by 30% after the Government’s crackdown on unofficial market.Tran Nhat Nam from Bao Tinh Minh Chau Co., Ltd, a prestigious firm dealing in gold and precious stones, said that people have switched to buying jewellery instead of bars. Trading in gold rings has increased by between … [Read more...] about Financial quandary: where to put your money?
Make your money grow
Sao Mai Group was honoured to be awarded the Third-class Labour Order by the President of Vietnam in early 2016. The title reconfirmed the stature and name of Sao Mai Group, the interpretation of excellent vision and speedy business growth of the group. This is a well-deserved recognition of its endeavours over the past 19 years.The success or failure of a business is measured by operation results and resources but the long-term development depends largely on the strategy and vision of such business. Indeed, Sao Mai Group has proved for its exceptional vision of “giving up the big to pick up the small.” While many investors were rushing to pour money into major cities, Sao Mai Group chose to go to smaller markets like An Giang, Ca Mau, Vung Tau and Thanh Hoa. After many years, the lacklustre of property market in major cities demonstrated the far-sighted vision of the leadership of the Group. With a right foresight and valuable experience in designing, construction and … [Read more...] about Sao Mai Group: Vision Makes Class
Last week, Viet Nam News asked its readers about the growing gender inequality in Viet Nam after the latest sex ratio climbed to 114 boys to 100 girls. Here are some of their comments. Nguyen Thi Chuc, Bac NinhNaturally, giving birth to a boy or a girl was not a human choice but today, due to high-tech development in science, particularly in medical care, interference into human fertility has helped parents to give birth to healthy children, even choose their gender. In my own opinion, it has particularly impacted on the gender gap. Giving financial reward to families that only have daughters actually cannot help solve the problem, instead it more or less promotes gender discrimination. Why? I believe finance is not a problem if those families still want more babies, either girls or boys. In particular, for families which have a fierce and strong target that they want a boy, financial rewards to stop giving birth to a boy is never a concern. For those families who have girls and … [Read more...] about Growing gender inequality in VN?
The Vietnamese film industry knows little about making money, Hollywood legendary film instructor Dov Siemens said frankly at an interview following his arrival in Ho Chi Minh City last weekend. Dov Siemens (left) - Photo: Tuoitre Widely known in Hollywood for his teaching techniques, Dov Siemens comes to Vietnam this time to instruct more than 100 Vietnamese filmmakers and students in a 3-day training course.Dubbed “Mr. Hollywood” by the American MovieMaker magazine for his popular short courses where he teaches film professionals across the US, Dov said he does not teach art because the work of producing and selling films is more important.To Dov, after all, film industry is a show business, not a show art, he spoke bluntly.Despite being a foreigner, Dov said he knows several talented Vietnamese overseas filmmakers such as French-Vietnamese Tran Anh Hung with his award-winning trio The Scent of Green Papaya, … [Read more...] about Vietnam moviemakers bad at making money: Mr. Hollywood
Participants of the Veterans for Peace tour. Wyatt Olson/Stars and Stripes Michael Marceau didn’t leave Vietnam under the best of circumstances in May 1970.Stationed about 30 miles from the Cambodia border in an infantry unit, he “zigged instead of zagged” during an early morning rocket attack and was hit by shrapnel. The metal entered his back, hit a lung, bounced off a rib and lodged in an artery and cluster of nerves in his left shoulder.A buddy hoisted him into an idling jeep and saved him from bleeding to death. He was hospitalized two weeks, then spent months in rehab.This month, Marceau, 63, came back to the country where he once served.“I want to try to make a better exit this time,” Marceau joked as he strolled through the grounds around the Ho Chi Minh Mausoleum.Marceau is one of nine vets who are taking part in the first Veterans for Peace Tour. The 14-day tour was arranged by the only international chapter of Veterans for Peace, which … [Read more...] about American veterans return to Vietnam to ‘make things right’
Phan Duc Que of the Ministry of Industry and Trade's Competition Authority spoke with Nong thon ngay nay (Countryside today) newspaper about network marketing violations. What is your comment regarding violations in network-marketing management? Network marketing has shown certain shortcomings, as some network marketing companies have yet to comply with current laws and regulations, thereby creating a bad image for the business model, as well as affected people and customers involved.In addition, pyramid schemes exist alongside network marketing models that are permitted under current laws.Some enterprises have taken advantage of multi-level marketing to accumulate money by means of fraud. Violations include selling products with prices many times higher than their real value or providing false information about products. These violations are a cause for much concern by society and have led to the community's antipathy towards the network marketing sector.Some State authorities were … [Read more...] about Pyramid schemes a growing danger
Dealing with drug addiction Luong Minh Tuan, lawyer, former drug addict There are drug addicts who do not have the will to quit drugs. Society will be at risk if those addicts are allowed to choose whether to go to rehab centres. In this case, the authorities' intervention is necessary and compulsory rehab centres are helpful. However, the government should review the management of the rehab centres. It has gotten much better now but during my time in those centres until 2012, I witnessed officials beating up drug addicts in the centres. I also doubt that the drug addicts can avoid relapse after rehab. I myself was in and out of rehab three times from 2007 to 2012, for a total of 21 months. The only available treatment there was physical treatment. I could not have any psychological consultation or guidance to help me deal with my psychological dependence after being discharged from the centre. How will drug addiction affect … [Read more...] about Viet Nam confronts growing drug problem
Le Ngoc Tri, head of the Anti Hi-tech Crime Police Department (PC50) from the Ministry of Public Security, spoke to Kinh te &Do thi (Economy & Urban Affairs) newspaper about financial swindles.Please give us an overview of the methods criminals adopt, using fake bank cards and SIM cards, to withdraw money from ATMs or to blackmail people?I have to concede that such crimes have increased in recent times. In 2014 alone, many cases of fraud have been detected and foiled nationwide, in cities such as Ha Noi, Da Nang and Ho Chi Minh City and in the provinces of Ben Tre, Thai Nguyen and others.In Ha Noi alone, 16 cases of fraud were detected in May and June.More seriously, some criminals have established "fake companies" and used fake bank cards to withdraw money.These days, criminals use hi-tech to commit crimes. But they cannot escape punishment.How do you assess the severity of these crimes?During our investigations, we realised that a majority of the fraudsters are foreigners who … [Read more...] about Credit fraud a growing threat
Malaysia-based accelerator and early-stage investor 1337 Ventures has recently announced the top three teams from HCM City that will each receive US$25,000 worth of funds and services via its Alpha Startups Vietnam Batch 1. The three teams are Saloneses — a beauty service-booking platform, Perkfec — a platform that allows businesses to track employee achievements and rewards, and Navi — an hourly booking marketplace. Bikesh Lakhmichand, CEO and Founder of 1337 Ventures, speaks to Thu Huong Le on why 1337 Ventures has tapped into the Vietnamese market and the potential of cultivating young talent here. What factors motivated 1337 Ventures to enter Viet Nam? The Vietnamese startup ecosystem is growing in strength as the government has introduced new initiatives to build a sustainable and advanced ecosystem for startups in Viet Nam. The country is now ranked 90th in the ease of doing business index by the World Bank. In addition, the cost of living or cash burn rate … [Read more...] about 1337 Ventures: Vietnamese ecosystem is growing in strength
by Moc MienPham Chi Mai, 26, has been struggling to pay off her credit cards after an impromptu spending spree three years ago. The money she has borrowed has now reached nearly VND100 million - rather a lot of credit for someone her age to be used up on general shopping. "I don't know why the money I earn just disappears at a glance and now I'm even more in debt. My financial status is driving me crazy," she said.Mai, 26, was born into a problematic family where her mother often gambles and is heavily involved in the black market. "We are always in need of more money. It has become an obsession."The trouble Mai has got herself into is becoming more prevalent in today's Viet Nam. Ironically, as modern society attempts to provide young people with more opportunities to earn a living, it has not yet succeeded in teaching them how to budget and spend their money wisely.In 2012, a survey of the spending habits of pupils in 50 high schools across HCM City was jointly carried out by the … [Read more...] about Young people fail to budget money wisely