Apple has applied a new warranty policy which appears designed to eliminate unofficially distributed iPhones. It has also taken drastic measures to prevent the use of locked iPhones.
An iPhone XS Max 512 GB sold for VND44 million at the time it was launched in Vietnam. Just half a year later, the price dropped to VND40 million. People could even buy the product at lower prices at small private shops.
iPhone is known as the high-end product line which always keeps prices stable. The manufacturer rarely runs sale promotion programs or offers discounts.
In the past, Apple did not allow authorized resellers to cut the selling price independently and it would refuse to cooperate with resellers if they violated the principle.
However, Apple seems to become more ‘easygoing’, according to Nguyen Huy Tan, the representative of a retail chain in Hanoi. Sales agents now can take the initiative in running sale promotion programs to lure more buyers.
Tan said the move shows that Apple is becoming more interested in the Vietnamese market. Meanwhile, users can more easily access the products, rather than buy products imported to Vietnam through unofficial channels.
“For the majority of users, an authorized product would be safer and more convenient for their long-term use,” Tan commented. “For retailers, the distribution would help them better control the supply and product quality. ”
The move shows that Apple wants to ‘kill’ unofficially imported and distributed products in Vietnam. Starting July 31, Apple only provides warranty service if customers can show invoices proving that they bought genuine products from authorized resellers.
“The new warranty policy won’t have too much effect on users and private shops which sell unofficial imports. However, this will affect customers’ decisions,” said Quang Trung, the owner of a private shop in Hanoi.
What worries Trung and other retailers is whether Apple will apply other measures in the future to eliminate unofficially imported products from the market.
Trung complained that the business is getting more and more difficult. Many retail chains have had to scale down because of stiff competition from other chains and authorized resellers because unofficially distributed iPhones no longer enjoy a global warranty and distributors have to be responsible for the warranty.
Recently released policies have also made locked iPhone users suffer. On iFan forums, many members complain their iPhones have connection issues, and the givey sim, which helps unlock iPhones, cannot work.
Vu Phuong, the administrator of the locked iPhone users’ community, said Apple not only blocked ICCID, but neutralized White-SIM, a kind of givey simcard which can automatically fix errors.
“Even after about 10-15 years of learning English, [students] mostly can’t say anything”
The Ministry of Education and Training in Vietnam has once again expressed concerns that the quality of foreign language instruction in the country is preventing English proficiency goals from being met, the PIE News reports.
The ministry recently revealed that the average English scores over the last three years were below 5.0 on a ten-point scale, with attainment significantly lower outside the major cities.
According to PIE News, the Teaching and Learning Foreign Languages in the National Education System 2008-2020 project set targets to drive up the standards of language learning in the country, with English as a particular focus. However, many stakeholders see the targets as over-ambitious and not achievable with the country’s current resources.
“If anyone wants to get a higher salary or go abroad, they need to learn English. All students in Vietnam must study English at school from grade one and do about three lessons per week,” Hieu Nguyen of GrowGreen Vietnam told The PIE News.
English language school English First’s English Proficiency Index currently ranks Vietnam 41st out of 88 countries and regions, between Uruguay and Russia.
“In Vietnam, the parents often care too much about the mark. They just want their children to get good marks and be better than the other kids,” Hieu Nguyen continued.
“At school, 90% of students can’t communicate in English well because they hardly speak English. They just know grammar, reading and tests. Even after about 10-15 years of learning English, they mostly can’t say anything, although they can read well sometimes.”
One of the key issues is the lack of qualified teachers in the country, particularly in state schools.
“Foreign language teachers must guarantee their teaching language proficiency level as two degrees higher than the general standard of school level. Accordingly, the high school teachers need to gain the level of C2 [in order to teach at a B2 level],” noted Thuong Nguyen in her paper Vietnam’s National Foreign Language 2020 Project after 9 years: A Difficult Stage.
Nevertheless, the survey shows that upper secondary school teachers with the level of C2 only constitute a low percentage of 0.1%.
“As such, many students head to training centres for additional tutoring,” the author explained.
“It is very common [to do extra classes], especially in a big city. But teaching English is different from big cities to other provinces,” Thuc Doan Nguyen, the head of the overseas study centres at ILA Vietnam, told The PIE News.
And while English is the main second language in Vietnam, Thuc Doan Nguyen noted that in the cities some people are beginning to learn Japanese and Mandarin.
Outside of the major cities, particularly around the Mekong Delta and the northern mountainous regions, finding teachers continues to be a challenge.
According to the EF English Proficiency Index, English proficiency has improved in the country since 2011 but not enough to meet the 2020 targets.
Western European woman was killed and her male friend was seriously injured after a truck slammed into their motorbikes in the Vietnam’s northern province of Ninh Binh Tuesday.
Their names and nationalities have not been revealed but preliminary information from the local police was that they were from Western Europe. Le Hoang reports on VNExpress.
At around 5 p.m. they were riding on National Highway 1A in Tam Diep Town, two hours south of Hanoi, when a truck carrying construction materials hit them from behind.
Police examine a road crash site in Ninh Binh Province where a foreign woman driving a motorbike was killed by a truck on August 20, 2019. Photo credit: VNExpress/Lam Son.
The woman died on the spot after being dragged under the truck while the man fell and was hospitalized with serious injuries.
Local authorities said the gloomy weather and heavy rains had caused poor visibility at the time of the accident.
According to VNExpress, road crashes are a leading cause of death in Vietnam, killing almost one person every hour. More than 18,720 accidents occurred last year, killing 8,244 people and injuring nearly 14,800, according to the National Traffic Safety Committee.
Nguyen Coffee Supply’s Sahra Nguyen, the first-ever Vietnamese-American importer, roaster, and supplier of beans from Vietnam, takes us on a caffeinated journey through the remarkable coffee scene of Vietnam.
Coffee from Vietnam has been sold in the United States for a long time, but ask any connoisseur and they will probably be unable to tell you where to find it, despite the fact that Vietnam is the second largest producer of coffee beans in the world after Brazil. So in the third wave movement of coffee, which prioritizes transparency from bean to cup, why does no one know that this is the source of so much of America’s coffee?
This is the question that drove Sahra Nguyen, founder ofNguyen Coffee Supply, to research where all these beans were ending up. “It does get imported here, but not as a fresh coffee bean,” Nguyen discovered. Instead, Vietnamese beans end up as supermarket coffee and instant coffee, “so once it starts hitting the shelves, no one knows it’s Vietnamese coffee.”
Being channeled through the commercial grade coffee market segment is what has prevented Vietnamese coffee beans from being elevated alongside so many other countries’ beans during the recent coffee revolution. Lower value products like instant coffee or ground coffee might sit on the shelves for years, falsely characterizing Vietnamese coffee beans as having an inferior flavor. “These beans have been trapped in this cycle of poverty where they can’t elevate or advance their production,” Nguyen explains.
And the fact that these beans have been used for cheaper products fuels a false narrative that this is all they’re good for, when in fact it has more to do with the fact that Vietnam has been supplying coffee beans well before consumers cared as much about flavor and the quality of life for workers than they do today, meaning there was no new market opportunity as artisan coffee has grown in popularity because Vietnamese beans were already dedicated to the commercial grade market.
Despite facing resistance in the coffee industry from those buying into the inferior bean narrative without looking deeper as to why that characterization exists at all, Nguyen knew there was something good behind it all—and Nguyen Coffee Supply is changing the game by currently sourcing single-origin green coffee beans from Da Lat and fresh-roasting in Brooklyn. “I know it because the U.S. has been buying them,” she says, adding that another blindspot in the Vietnamese coffee bean story is the assumption that there’s no coffee culture at the source.
Like most places that produce coffee, coffee is a mainstay of the local diet in Vietnam, and a coffee culture exists despite its lack of visibility on the international stage. “Vietnamese coffee is centered around the robusta, with a bolder flavor, darker nutty flavors,” Nguyen explains, sharing that Vietnam is the number one producer of robusta beans in the world (with arabica on the rise). But it’s the diversity of coffee culture that appeals so much to Nguyen, “whether it’s having coffee on the street with stools on the sidewalk, or specialty coffee cafes with roasters in the shop,” noting that the hierarchy seen in American coffee culture doesn’t exist in Vietnam.
Coffee lovers should take the time to explore what Vietnamese coffee has to offer, and nowhere is better to do so than at the source. Nguyen shares her suggestions for those seeking a diverse exploration of coffee culture in Vietnam, from specialty coffee shops to traditional holes in the wall around the country.
The Workshop in actionErics Kun for Nguyen Coffee Supply
SAIGON (HO CHI MINH CITY)
The Workshop
The Workshopis one of Saigon’s leading craft and specialty coffee destinations, considered the top three as far as reputation and quality and a pioneer in the industry. It can be a little tricky to find, as it’s upstairs in a nondescript building, but once inside it feels like you’ve stumbled onto a local gem. “This is one of the few places that creates blends using Vietnamese beans with non-Vietnamese beans, including Ethiopian arabica beans,” Nguyen says, speaking to their wide range of coffee beans for guests to sample. Nguyen suggests trying Catimor, an interesting variety that undergoes a washed process in the highlands of Da Lat.
Bosgaurus Coffeeroasts in-house 5 days a week. It stands out for its use of arabica, a less common bean in Vietnam. They’re also home to the winner of the Vietnam National Barista Championship. From a design standpoint, the cafe is stunning, inspired by a laboratory. Nguyen describes how the “baristas stand behind a 9.6 meter-long bar suspended from the ceiling,” surrounded by entirely glass walls. The menu spotlights the quality and versatility of Vietnamese arabica beans, the up-and-coming variety behind robusta.
“Sourcing from seed to cup, Bosgaurus promotes arabica sua da—a very interesting take on Vietnamese coffee (ca phe sua da), which is almost always made with robusta. They tend to roast lighter to showcase the coffee’s complexity while also allowing regional differences to shine through.” Nguyen suggests trying the “Arabica Sua Da”, which is arabica coffee and condensed milk.
La Vietis a straightforward name essentially sending the message that “this too, is Vietnamese coffee,” appropriate considering they’re one of the early pioneers of specialty coffee in Vietnam. Preparations such as pour overs and espresso are newer to the country, and by bringing this onto the scene La Viet changed the notion that Vietnamese coffee could only be something sold in plastic cups on street corners. “Like Bosgaurus, they spotlight arabica beans and aim to change the narrative to include those beans in what we traditionally consider to be Vietnamese coffee.” Check out the Bloody Cold Brew (which is spicy) and the Cold Brew Margarita for an adventurous treat.
An Affogato at La VietErics Kun for Nguyen Coffee Supply
BUON ME THUOT
G20 Cafe
G20 Cafeis one of the most popular cafes in Buon Me Thuot, which is a renowned coffee producing area. “It’s beautiful with an entrance lined with cherry blossom trees,” Nguyen muses, adding that besides being one of the most Instagram-friendly cafes in Buon MeTuot, the cafe showcases the long traditions of coffee production in the region. It’s worth noting that they also offer a limited amount of civet and elephant coffee produced nearby, which isn’t always an ethical production method. These coffees are digested by elephants and civets, then extracted from their waste. “This is said to imbue the coffee with great flavor and textural properties,” Nguyen describes of the resulting coffee variety.
Address: Tân Lợi, Thành phố Buôn Ma Thuột, Đắk Lắk Province
The World of Coffee Museum
Less of a cafe and more of an essential stop for coffee lovers touring Vietnam, the recently-openedWorld of Coffee Museumis built in the style of the long houses used by many of the ethnic minority populations who have traditionally farmed the land and grown the coffee of the region. “Vietnam is actually incredibly diverse with 54 distinct ethnic groups that have their own customs, languages, and attire,” Nguyen explains.
In addition to getting coffee, visitors can learn more about the long history of coffee production in Vietnam, which was first introduced in colonial time by the French. “Vietnamese coffee is unique not just for its quality and range, but for the interesting historical circumstances through which it came to be” Nguyen says. At the World of Coffee Museum many artifacts from all around the world in the early, pre-electricity days of coffee production, brewing, and consumption can be found.
Address: Nguyễn Đình Chiểu, Tân Lợi, Thành phố Buôn Ma Thuột, Đắk Lắk 630000
Vietnamese coffee is both beautiful and deliciousErics Kun for Nguyen Coffee Supply
NHA TRANG
Generally, the specialty coffee scene has not quite reached Nha Trang, but because it’s a booming destination for tourists, this is a place to watch for craft coffee culture.
An Cafe
“This cafe is popular among locals, which makes it unique” Nguyen says. The design is fantastic, constructed entirely of wood with pictures of Vietnamese jungles and greenery to create the sensation of being inside a tropical tree house. It showcases the versatility of Vietnamese coffee—not just for traditional ca phe sua da but also espresso and creative slushes. AtAn Cafe, the owners import beans from a farm in Da Lat and grind the coffee fresh on site.
Address: 40 Đường Lê Đại Hành, Tân Lập, Thành phố Nha Trang, Khánh Hòa 650000
HANOI
Atelier
Specialty coffee took off first in Saigon, but Hanoi, Vietnam’s capital, is a close second. Like some of the others mentioned on this list (and like Nguyen’s business, Nguyen Coffee Supply),Atelieris promoting “fine robusta” as a way to communicate that robusta can be just as good as arabica in specialty applications, Their signature drink, the hatsukoi, incorporates espresso with steamed milk, salt, pepper, and cinnamon. They also serve a shakerato and a pandan coffee in the summer. “Here, we see the creativity and willingness to experiment of young upcoming baristas in Vietnam,” Nguyen says. This is a chic cafe with clean, modern, and minimal design.
Address: 65A Phố Tôn Thất Thiệp, Điện Bàn, Ba Đình
Blackbird
While it does carry specialty coffee,Blackbirdis more of a relaxed hangout spot for newcomers and coffee experts alike. “Located in the Old Quarter, it’s a convenient stop if you don’t want to go too far out of the way to try some great Vietnamese coffee,” Nguyen advises. Both arabica and robusta are offered here, and the cafe is a modern, progressive establishment that showcases many sides of Vietnamese coffee, focusing specifically on coffee sourced from within the country.
Address: 5 Chân Cầm, Hàng Trống, Hoàn Kiếm
Cafe Dinh
Cafe Dinhis “a little piece of history frozen in time,” according to Nguyen. Like a well-preserved time capsule, this cafe captures what coffee shops looked like during Vietnam’s tough times in the 1990s. “Before we speak about specialty coffee, we must recognize and pay homage to the longstanding establishments that pioneered the way we drink coffee today,” Nguyen says. Hanoi’s famed egg coffee, featuring a whipped/stirred yolk, is a specialty here. This is one of Hanoi’s oldest cafes, accessible only through a narrow hallway and tight staircase. Inside, the vibe is old and traditional, with tiny stools and tables, people smoking cigarettes. Nguyen suggests trying to snag the coveted balcony spot. This is not a specialty cafe, as they’re using ground coffee, but it’s delicious and as “classic” as it can get in Vietnam.
Address: 13 Đinh Tiên Hoàng, Hàng Trống, Hoàn Kiếm
By Ali Wunderman, a freelance journalist focusing on food and beverage, travel, wildlife and the environment, and outdoor adventure, among a wide range of topics.
Vietnam will join the Formula 1® calendar in 2020 with a new race in the capital city, Hanoi. The inaugural race will take place in April 2020 and will begin “a thrilling street race in the heart of the city”.
In many other countries, brand owners are helping their fans experience the fun and excitement of the race through a number of interactive events and activities.
Matthew Marsh, champion racer, Formula 1 TV analyst and CEO of EDJ – a motorsport consultancy, talks to Vietnam Insider about how his work with sponsors in other countries, as well as sport marketing opportunities in Vietnam.
As a specialist consultancy helping brands assess (and enter into) partnerships in motor sport eg. F1 and MotoGP. What do you think about the opportunities for the brands owner in Vietnam ?
The Grand Prix in Hanoi in April 2020 makes the topic of Formula 1 relevant. It’s also fresh because, as far as I can see, brands in Vietnam have not used the theme previously.
Consumers associate F1 with positive brand values such as: performance, exclusivity, international, premium.
And the sport offers many opportunities for authentic story-telling because it’s such a large and complex business. Of course team-work and success are themes that can be used across many sports. With Formula 1 there’s also technology, innovation, logistics, data analysis… and so on.
There’s a perception that a partnership in Formula 1 must be hugely expensive. It doesn’t have to be! And there are a number of ways to make it very cost-effective. For example F1 teams create a library of high-quality moving images. These can be used by their partners who avoid the high cost of shooting a TV commercial from scratch.
Matthew Marsh and Dung Duong, Contributor @ Vietnam Insider
You have worked with Budweiser, Epson, Gillette, Hisense and NTT Communications. How did you support them to promote their brands in motor sport?
EDJ operates like a media agency. We’re focused exclusively on one medium – motor sport! We know very well all the rights-holders ie. the leagues (such as F1), the events (Vietnam GP, etc), the teams (Mercedes, Ferrari, McLaren, etc) and the athletes (Lewis Hamilton, Sebastian Vettel, etc). But we’re completely independent and consider the brands to be our clients.
We start by understanding the business or brand objectives. Then discuss the type of marketing activities and tools that will be required to achieve those objectives. With a clear understanding we can engage with rights-holders and help brands negotiate for the marketing benefits they actually need.
For some it’s brand exposure, for others use of team logos and imagery, perhaps hospitality for clients and prospects – or a theme for internal engagement.
Our job is to help brands leverage these benefits at an affordable price.
Matthew Marsh raced at the Le Mans 24 hours race in 2007 and ‘09
How did you become a motor sport consultant?
I used to race cars myself. To make progress I needed commercial support. So I had to work out why brands would spend money with me. This taught me to find out what was needed and then deliver it – cost-effectively.
For example I often competed in supporting races at Formula 1 Grands Prix – such as the Porsche Carrera Cup. For some of my commercial partners this was a way for them to be involved in the big event in a way that was both less expensive but also gave them and their guests a direct and emotional involvement.
These days I still think and work the same way. I just don’t need to wear a crash helmet and the suit I wear isn’t fire proof…
Why brands-owners in Vietnam should use the Grand Prix (and the rising interest in F1) for brand marketing or business development?
We’ve talked about the relevance of Formula 1 in the minds of consumers in Vietnam. And ‘image transfer’ by association with the sport. Plus the themes that are authentic in F1 and can be applied to brands, products and services.
Beyond this there’s the way a Vietnamese brand could use association with Formula 1 to aid international expansion. A partnership in the sport says: “we’re serious.”
And Formula 1 is famous for it’s high-end client entertainment. A Grand Prix is much more than a motor race – it’s a lifestyle event!
Did you have any reservations about working with brands owner in Vietnam as a foreign consultancy?
I’m British but I have been living in Asia for almost 30 years – based in Hong Kong and with business dealings across the region. I enjoy very much visiting Hanoi and Saigon and doing business here. It’s a fast-growing economy with a lot of enthusiasm and a good sense of humour.
Rapid Shift from Unorganized to Organized clinics in Vietnam Coupled with Rising Demand for Dental Care Services especially in Cosmetic Dentistry Services have led to Growth in the Dental Services Industry of Vietnam: Ken Research
“Increasing number of people availing dental services due to the increased dental problems among the Vietnamese population is one of the main reasons for the growth in the industry.”
Analysts at Ken Research in their latest publication “Vietnam Dental Services Market Outlook to 2023 – By Organized and Unorganized Clinics, By Cities (Ho Chi Minh City, Dong Nai, Hanoi, Haiphong, Binh Duong, Can Tho, Khanh Hoa, Nghe An, An Giang and Others), By Dental Care Services (Prosthodontics, Endodontics, Cosmetic Dentistry, Implantology, Orthodontics, Periodontics and Others), By Domestic and Foreign Customers” believes that the companies operating in dental services market of Vietnam can expand their market share by penetrating in the rural areas of the country as that segment in not captured majorly up till now and encourage dental tourism to attract more foreign dental patients. The market is expected to register a positive CAGR of 5.6% in terms of revenue generated through dental services and a CAGR of 2.0% in terms of total number of dental clinics during the forecast period of 2019–2023.
Increasing Dental Problems amongst Vietnamese Citizens: In accordance with the Teeth – Jaw – Face Hospital, more than 90% of Vietnamese people are suffering from dental problems and 85.0% of Vietnamese children are suffering from tooth decay during the year 2018. In addition to that, the proportion of people with tooth decay will increase by 6.64% in those aged 45 years or older in the near future. The growth in the dental problems is increasing the demand for the dental services in Vietnam.
Technological Advancements in Dental procedures: All the clinics in Vietnam use cutting edge technological equipment for instance, digital dentistry, 3D-printing, advanced dental turbines and others which makes the dental treatment efficient and ensures safety in terms of usage. The human error is minimized by the use of this equipment thereby, creating a positive impact on the market.
Rapid Shift from Unorganized to Organized Dental Clinics: Customer preference for organized clinics is increasing majorly due to various reasons such as the wider geographical presence in the country and multiple value added services that these clinics provide to their patients. Some services include guaranteed quality of treatment which rectifies any dissatisfaction, which allows transferring the treatment to other cities as well. For foreigners these transfers of treatment services plays a significant role as they need not stay in a particular city to get treated for a longer period of time. Whereas, other value added services include storage of medical records, payment histories and treatment plans. Organized dental clinics are striving hard to expand their operations in different regions within Vietnam in order to cater to a higher population set and also tap the foreign patients visiting for the dental treatment. Organized clinics which have more than one branch charge a little high as compared to unorganized clinics having a single branch.
Increase in Demand of Cosmetic Dentistry: In recent years, the demand for dental health care and treatment especially cosmetic dentistry was observed to increase. In parallel, there is an explosion of dental services, especially in big cities. The patients visiting for the cosmetic dentistry is high as they are more concerned about their teeth i.e. dental health and smile. Majority of the people coming for the cosmetic dentistry were observed to be women / females in Vietnam.
Singapore-based investors flock to the Vietnamese stock market as the country offers strong growth and safety against global volatilities.
Major deals
In the first half of 2019, investment funds from Singapore continued their quest for high-performing firms listed on Vietnam’s main bourses.
Most recently, F&N Dairy Investments, the Singaporean subsidiary of tycoon Charoen Sirivadhanabhakdi, registered to buy 1 per cent of dairy firm Vinamilk between July 10 and August 8.
At the same time, another big-name in the region – Platinum Victory of Jardine Matheson Group – wanted to purchase the same amount of shares between July 4 and August 2.
The two companies already have significant ownership at Vinamilk – F&N has 17.31 per cent and Platinum Victory 10.62 per cent.
The latter might be the newcomer to this race, but they have shown some incredible buying powers: the investor was the sole buyer at Vinamilk’s share auction in 2017, taking up 3.3 per cent of the shares from Vietnam’s State Capital Investment Corporation (SCIC).
Not stopping there, the firm continued to buy Vinamilk stock throughout 2018, becoming the firm’s second-largest investor from abroad after F&N.
Earlier in the year, Singapore’s sovereign wealth fund GIC Private Ltd. finally succeeded in buying shares at state-owned Vietcombank.
The purchase was previously delayed due to different expectations on pricing. After two years of negotiation, the two sides finally agreed to shake hands, and GIC settled on 2.55 per cent of Vietcombank’s shares, instead of its original aim of 10 per cent.
Following the Vietcombank deal, GIC also injected more capital into conglomerate Masan Group, raising its stake from 8.98 to 10 per cent.
The Singaporean wealth fund also boosted its stake to 5 per cent at digital technology firm VNG Corporation.
In a recent interview, GIC chief investment officer Jeffrey Jaensubhakij acknowledged that the fund is boosting its presence in Vietnam due to escalating trade tensions around the world.
According to Jaensubhakij, Vietnam is poised to benefit from trade diversions from China, and both Chinese and American manufacturers are expected to shift production to Vietnam.
This is why GIC has been active with its investments in the country, especially with high-profile companies. Besides Masan, Vietcombank, and VNG, GIC also has a significant stake in Vingroup’s real estate subsidiary Vinhomes.
At the Invest Asia 2019 conference held by Maybank Kim Eng in Singapore this May, investors also mentioned Vietnam as the top destination for regional capital flows.
Strong GDP growth above 6 per cent, a young population with a booming middle class and robust consumption demand are considered the key growth catalysts for Vietnamese companies.
Singaporean investors are also excited to see many firms in Vietnam being put on sale, from state-owned enterprises (SOEs) to leading private companies. Vietnam also recently revised the list of businesses to be equitised or divested.
According to this plan, at least 93 SOEs will put their shares on sale until the end of 2020 – including some major names such as Vietnam National Coal and Mineral Industries Group (Vinacomin), Vietnam Northern Food Corporation (VINAFOOD 1), Agribank, Vinacafé, MobiFone, Vietnam Post, and Vietnam National Chemical Group (Vinachem).
On the stock market, new products, such as government bond derivatives and covered warrants, also give Singaporean investors more chances to enter Vietnam.
Moreover, from this June onwards, book building was finally made possible for SOEs, and they are now authorised to accept USD-denominated deposits for share auctions.
“Our clients are happy to see regulatory updates in Vietnam’s stock market this year, which shows that the country is making strong efforts to attract foreign investment,” said Jeffrey Goh, regional head of brokerage at Maybank Kim Eng (Singapore).
Remaining bottlenecks
Despite the general enthusiasm, experts also pointed out that Vietnam’s capital market is in a lull due to there being no sudden spikes in macroeconomic factors.
In the short term, global trade tensions might force Singaporean investors to adopt the “wait and see” approach, rather than disbursing the money at the moment.
Regarding state divestments and equitisations, many Singaporean investors feel that there is no standard procedure for these auctions, and practices vary from company to company.
According to Vuong Duong, deputy managing director of VinaCapital, sometimes it is very hard for prospective investors to meet the SOEs’ executives or access corporate information in English. Details on the auction and pricing were also vague, which tires investors out.
The reason is that a number of executives at companies undergoing equitisation are not determined to see the auctions through – because these share sales mean that they are losing control at the firm.
With this in mind, investors hope that Vietnam will tie the benefits and perks of these executives to the share auction process, as this practice can hopefully motivate them to let go of their control.
Jeffrey Goh from Maybank Kim Engsaid that he looks forward to the launch of intraday trading, as opposed to the current T+3 system in which payment for stocks is only settled three days after the order is made.
“This delay caused great inconvenience to investors,” Goh told VIR. Moreover, current confusions regarding the level of foreign ownership at listed firms should also be cleared.
In fact, this is the main reason why Vietnam has yet to be upgraded to the “emerging market” status by Morgan Stanley Capital International.
According to MSCI’s latest review published two months ago, the stock market in Vietnam has not given equal access to foreign investors, as company data is not always available in English and many companies still maintain restrictions on foreign ownership.
Other challenges can be technical – for example, similar to investors from other countries, Singaporean funds have yet to make notable investments in Vietnam’s latest financial products, such as covered warrants and derivative products for the VN30 Index. The reason is that international banks have not yet agreed to be custodians for these products.
Dao Phuc Tuong, investment manager at Singapore-based firm APS Asset Management, said that investors who wanted to enter Vietnam due to the trade war might have already done so in the first half of 2019.
This means when the hype surrounding trade diversions is over, Vietnam might have to provide another compelling reason to draw in investors.
“In the first six months of 2019, many funds came to Vietnam because they saw this country as a safe haven among emerging or frontier markets. However, if there is no new investment story about Vietnam or the trade war cools down, they might halt their investments here,” said Tuong.
Banks have increased their interest rates on certificates of deposit (CDs), bringing them in excess of 10 per cent per year with the aim of mobilising long-term capital.
Bản Việt Bank recently announced it was issuing long-term CDs with record high interest rates. Specifically, an interest rate of 10.2 per cent per year is applied for a 60-month CD valued at a minimum of VNĐ10 million (US$430) for individual customers and VNĐ100 million for institutional customers.
The rates for shorter terms of 24, 36 and 48 months are also high at 9.5, 9.8 and 10 per cent per year, respectively.
VIB and VietABank have also issued CDs with high interest rates of 9.1 per cent per year to lure depositors.
The rates at many other banks, such as Sacombank, BIDV, SHB, MSB and SeABank, are averaging at more than 8 per cent per year.
According to experts, CDs are increasingly popular as interest rates are currently some 1-2 percentage points higher than normal savings and they are easy to transfer.
Meanwhile, a bank leader, who declined to be named, said that banks are often willing to mobilise capital via the issuance of CDs with high interest rates when they need capital to fund projects or lend to customers at high lending rates.
Industry insiders also believed banks had to issue CDs at high interest rates as they faced difficulties luring long-term capital.
Many banks are in dire need of long-term capital as their ratio of medium- and long-term capital out of their total capital remains limited. According to State Bank of Việt Nam (SBV) regulations, banks must reduce their short-term funds for medium- and long-term loans to 40 per cent from this year against last year’s rate of 45 per cent.
Banks also need more capital to meet a capital adequacy ratio (CAR) of 9 per cent in 2020 as per the SBV’s Basel II norms. Fitch Ratings estimated the Vietnamese banking system could face a capital shortfall of almost $20 billion to meet the standards.
However, experts are also concerned that the rate hikes would cause a domino effect on interest rates of long-term loans.
A teacher at the Maple Bear Westlake Point Kindergarten in Hanoi has been accused of mistreating children at the school.
The case was brought to light after parent Le Mai Linh asked the school to let her watch the security camera footage.
Linh said her child was three years old and a lively child. At first, her child was very eager to go to school but from June, he suddenly looked afraid and wanted to stay home. At night, he cried more often so Linh became suspicious and wanted to view the footage. When she asked to see the footage with the school, she was asked to return on another day.
After asking the school multiple times, she finally was able to see the footage and shocked at what she saw.
“At lunch, my child cried a lot and the teacher punished him or ignored him,” she said. “I even saw the teacher lock another child in a cupboard.”
Linh said given the tuition fees of VND20m (USD863) a month the school had been irresponsible.
Linh said, “Two teachers came to our house to explain but no one admitted their fault. Only when the media started investigating the case did the school representative call and ask for our forgiveness but didn’t ask anything about my child.”
On August 18, the school publicly apologised on its website. In the video, a teacher locked the child in a cupboard for 50 seconds because he was disobedient. The school strongly criticised the action and said that it was unacceptable.
The management board had held a meeting and fired the teacher in the clip.
“On behalf of all staff at Maple Bear, we sincerely apologise to the family and other children and parents,” the announcement wrote.
The United States Agency for International Development has pledged $50 million to support Agent Orange victims in seven Vietnamese provinces.
USAID, as the agency is commonly known, had signed a memorandum of understanding with the Office of the Standing Board for the National Committee on the Settlement of Post-War Unexploded Ordnance and Toxic Chemical Consequences last April to support programs for people with disabilities in areas severely affected by Agent Orange the U.S. had used during the war.
Quang Tri, Thua Thien Hue, Quang Nam, and Binh Dinh Provinces in the central region and Dong Nai, Binh Phuoc and Tay Ninh in the south were intensively sprayed with the toxic defoliant, leaving more than 163,000 people with disabilities now, the government news site reported.
Christopher Abrams, head of USAID’s Environment and Social Development, said at a seminar on Monday that the aid would help boost the country’s ability to take care of, treat and rehabilitate AO victims, improve their living conditions and enable them to integrate with society.
The U.S. has been joining hands with Vietnam for projects to overcome the consequences of the war and support Agent Orange victims, he said.
Nine U.S. senators joined Vietnamese officials last April to start a dioxin cleanup project at Bien Hoa airport, the most contaminated spot in the country.
It is expected to take at least 10 years and cost $390 million to clean 150,000 cubic meters of soil by 2025.
Between 1961 and 1971, the U.S. Army sprayed some 80 million liters of Agent Orange over 78,000 square kilometers (30,000 square miles) of southern Vietnam.
Dioxin, a highly toxic chemical present in the defoliant, stays in the soil and at the bottom of lakes and rivers for generations. It can enter the food chain through meat, fish and other animals, and has been found in alarmingly high levels in human breast milk.
Between 2.1 million and 4.8 million Vietnamese were directly exposed to Agent Orange and other chemicals that have been linked to cancers, birth defects and other chronic diseases before the war ended in April 1975, according to the Vietnam Red Cross.
As a Chinese marine research vessel escorted by coast guard ships has continued infringing on Vietnam’s Exclusive Economic Zone (EEZ) and Continental Shelf in more than a month, Tuoi Tre News has discussed the issue with Professor Jerome Cohen, an expert in Chinese law.
Jerome Alan Cohen is a professor of law at the New York University School of Law and a senior fellow for Asia studies at the Council on Foreign Relations, a U.S. nonprofit think tank specializing in American foreign policy and international affairs.
The Vietnamese foreign ministry said on Friday that Chinese survey ship Haiyang Dizhi 8 and its escort vessels had again engaged in a violation of Vietnam’s EEZ and Continental Shelf.
The ministry first confirmed the violation by the Haiyang Dizhi 8 and its escort vessels in the southern area of the East Vietnam Sea on July 19.
On August 8, the Vietnamese foreign ministry said the Chinese ships were no longer in the EEZ and Continental Shelf after having engaged in a month-long infringement of Vietnam’s sovereignty and jurisdiction in the East Vietnam Sea.
Would you mind commenting on China’s recent marine surveys in the EEZ of Malaysia, the Philippines, and Vietnam?
The recent ‘marine surveys’ are obviously part of a continuing effort by China to bolster its claims to maritime resources in Southeast Asia. Having successfully consolidated its recent establishment of new military bases on maritime features in the area, Beijing’s emphasis, at least for a time, is on economics, such as abundant natural resources in the [East Vietnam] Sea, including oil and gas.
Should we consider those actions by China as pressuring ASEAN claimants of the East Vietnam Sea during the Code of Conduct (COC) negotiation process as one of the conditions Beijing put on the table was not allowing countries from the outside to explore and exploit natural resources with countries from the inside?
China would like to elicit the cooperation of the relevant ASEAN states and at least exclude North American, European, Japanese and Indian companies from such cooperation. The COC negotiations will further reveal these goals.
Vietnam’s responses to China’s moves at the moment are focused on legal aspects, especially the United Nations Convention on the Law of the Sea (UNCLOS), calling for support from the international community at international conferences (at ASEAN and UN levels), and sending coast guard ships to protect their oil rigs. Do you think those are enough? If not, which methods should be used?
Vietnam should increase its efforts to ally with like-minded ASEAN members to persuade the world community of the legitimate bases for the positions it has adopted. Moreover, Vietnam itself should become much more active in explaining its views in relevant international forums.
This autumn’s UN General Assembly would be a good place to start, and we should hear from Vietnam in many more English-language op-eds, magazine essays, speeches and conferences. China’s propaganda assets are now huge, and the United States is still most prominent in the media. The world needs to hear much more from Vietnam.
What do you think about China’s so-called nine-dash-line claim to the East Vietnam Sea? Generally, what does the West think about it?
China’s nine-dash-line claim, long opposed by many governments, has now been largely discredited by the arbitration award of the UNCLOS tribunal in the case brought by the Philippines, despite China’s efforts to denounce the decision.
Beijing’s blatant refusal to respect that decision has done great harm to its hopes to expand “soft power.” Clear violations of international treaty obligations damage a nation’s reputation.
Vietnam’s SaaS startup, KiotViet has raised US$6 million in a Series A funding round from Jungle Ventures and Traveloka
Vietnam’s Citigo Software-owned software-as-a-service (SaaS) company, KiotViet has raised US$6 million in a Series A funding round from venture capital firm Jungle Ventures, and an online travel aggregator Traveloka. The startup, which provides companies with cloud-based store management software, plans to utilize the funds towards expanding its offering across Vietnam, especially for small and medium-sized businesses. Dipen Pradhan reports on theEntrepreneur.
“KiotViet will open offices in all provinces and cities in Vietnam to serve customers in remote areas who have low technology knowledge and accessibility,” deputy general director of Citigo, Tri Cao, said in an email correspondence.
According to Cao, KiotViet will also utilize the proceeds towards improving the leadership capacity of the management team and recruit talents, along with improving product and service qualities.
Launched in 2014, KiotViet provides micro-businesses and SMEs such as fashion retailers, restaurant, grocery, furniture, drugstore, mini supermarket, with a simplified suite of management software solutions to help them manage its inventory, sales, cash flow, marketing and management solutions. It claims that the service is currently being used by more than 70,000 SMEs spread across 63 Vietnamese provinces.
According to Entrepreneur, citing recent studies on SME market of Vietnam , Cao said that Vietnam’s SME sector comprises up of 95 per cent of all enterprises, contributing around 40 per cent to GDP, and employs around half of the total workforce. “However, SMEs continue to face hurdles towards digitalizing their operations. Our aim is to provide such companies with innovative and intuitive digital solutions to help them digitalize, increase efficiency, and tap into new opportunities,” Cao added.
The startup drives its monetization by collecting a monthly fee from the SMEs, starting from VND 160,000 (USD$ 7); and 240,000 VND from private enterprises. Although the company did not reveal its revenue details, it claims to have experienced a growth rate of 250 per cent year-over-year. It currently employs 850 people, and expects to take the headcount to 1,200 by the year end. The company says it is looking to recruit high quality programmers from top-notch local and international universities of technology.
Investors Say
To the question if Kiotviet is getting any other form of support from investors, Cao said that Jungle and Traveloka have connected the startup with many partners to forge new collaboration opportunities.
“With even the traditional retail sector adopting more digital transactions, we see that KiotViet’s products and services will be a definite game changer. The company is therefore well-positioned to help Vietnam’s smaller merchants close their digital gaps and enable more sustainable growth in the years ahead,” company’s statement cited Jungle Ventures’ principal, Grace Yun Xia, as saying.
As part of the deal, the AVP of Traveloka investment will be joining KiotViet as board of directors, the company said.
Market
The April 2019 report by ResearchAndMarkets indicates that Vietnam’s cloud service market is poised to grow to $291 million by 2024, up from $165 million in 2018, at a CAGR of over 10 per cent year-on-year. The same report suggests the growth will be primarily led by SaaS companies and SMEs, due to flexibility in adoption, cost-efficient, and easy to set up that does not require installing any hardware or software.
While the country is already packed with multi-national companies providing cloud-based service such as IBM, AWS, Salesforce, many startups like KiotViet are also catering to the industry. There are homegrown companies such as Sapo, which is a sales management software that helps SMEs to optimize its online as well as offline inventory. Similarly, there are Haravan and others.
According to ResearchAndMarkets, northern Vietnam is the leading region in the Vietnamese cloud service market owing to the presence of large corporates and private organizations, government and defense institutions coupled with the growing number of SMEs in the region.
Korea Kolmar has established a new unit in Vietnam recently, according to sources on Aug.19.
The Korean cosmetics maker injected around 10 million won ($8,260) in Hankol Healthcare Vina and plans to raise more funds by issuing additional shares worth 500 million won later this year.
Hankol Healthcare Vina will be selling mainly health beverages of CJ Healthcare, which Korea Kolmar acquired for about 1.3 trillion in 2018. Industry sources also say that the unit is likely to play a crucial role when it exports its drug Tegoprazan.
Tegoprazan, which is a treatment for gastroesophageal reflux disease, is the first novel drug developed by CJ Healthcare.
In 2018, CJ Healthcare signed a contract with Vietnam-based Vimedimex Medi Pharma to export the drug. According to the contract, Vimedimex Medi will be exclusively retailing Trgoprazan in Vietnam from 2021.
Meanwhile, former Korea Kolmar CEO Yoon Dong-han has been under public criticism since the beginning of this month for showing a politically controversial YouTube video to employees. It also triggered the local citizens to start a boycott campaign against the company’s products. Even after the chairman apologized and resigned last week, the company is still under pressure.
Established in 1990, the Korean cosmetics maker posted annual sales of over 1.35 trillion won last year.
Multi-commodity exploration company, Blackstone Minerals, has nailed a plethora of new nickel exploration targets from its maiden geophysical survey program at the emerging Ta Khoa project, west of Hanoi, in northern Vietnam.
The results from the ground-based induced polarization, or “IP”, surveying showed a strong correlation with known positions of high-grade disseminated nickel sulphide and massive sulphide vein mineralization at the flagship Ban Phuc prospect and outlined new targets at the Ban Khoa and King Snake prospects nearby. Matt Birney report on The West.
The company is now planning a phased program of drilling on two rigs to prove up and validate historical results from Ban Phuc and commence exploration at Ban Khoa and King Snake.
According to The West, Blackstone is the first company to undertake IP surveying at Ta Khoa and the geophysical technique has proven its value thus far, outlining multiple locations of potential nickel sulphide mineralization across the project.
Based on the success to date, the company will now extend its geophysical programs to the Ban Khang and Ban Chang prospects, which lie within a 5km radius of the existing nickel concentrator and processing facility at Ta Khoa.
Blackstone Minerals has generated multiple nickel sulphide targets from a geophysical surveying program at its Ta Khoa nickel project in Vietnam.Picture: Supplied
Earlier this month, the company delivered strongly encouraging drill results from its first program at Ban Phuc, returning wide intervals of nickel sulphide mineralisation including 45.5 metres grading 1.2% nickel from 56.5 metres down-hole, 17.8m @ 1% nickel from 106.6m and 22m @ 0.8% nickel from 138m in separate drill holes.
Management said that the results were consistent with the historical drilling, which produced intersections like 74m @ 1% nickel and 0.2% copper from 73m down-hole including 51m @ 1.2% nickel and 0.2% copper from 91m and 90.2m @ 1.1% nickel from 140.2m in a separate drill hole.
Discussing the recent geophysical survey results, Blackstone Managing Director Scott Williamson said: “… the first ever IP survey at Ta Khoa suggest(s) we have an extensive system of magmatic nickel-copper-cobalt sulphides. We look forward to continuing our shallow drilling and commencing the deeper drilling of the new targets with a second drill rig mobilizing over the coming weeks.”
Blackstone has an option to acquire 90% of the Ta Khoa nickel project, which includes the mothballed Ban Phuc underground nickel mine and plant, from Canada’s AMR Nickel Limited.
The previous owners ploughed more than USD$136m into the mine, generating USD$213m in revenue, during three years of falling nickel prices, before scuttling the project in mid-2016.
Ta Khoa is connected to a local hydroelectric power grid, with a fully permitted tailings facility and modern 250-person camp.
The company said that it also continues to investigate the possibility of developing downstream processing infrastructure in Vietnam, which could produce nickel and cobalt products, to supply Asia’s growing demand in the lithium-ion battery manufacturing sector.
In this regard, Blackstone has commenced metallurgical test work on the lower-grade nickel disseminated sulphide Ban Phuc ore body, to develop a flow sheet for a product suitable for the lithium-ion battery industry.
According to company management, the acquisition of the Ta Khoa project will enhance the company’s existing battery mineral asset base, which already includes cobalt and nickel projects in Canada and the Silver Swan South nickel project in the Eastern Goldfields region of Western Australia.
Ta Khoa is a potential company-maker for Blackstone and comprises a 50 square kilometre land package hosting more than 25 advanced massive sulphide vein targets and many large disseminated sulphide targets for evaluation.
While the previous owners focussed primarily on exploration and development activities at Ban Phuc, the company has broadened its search for additional nickel sulphide targets to its entire ground holdings, a strategy that now appears ably supported using geophysical surveying.
The short-term prize may lie within the narrow, high-grade massive sulphide vein mineralization most recently mined at Ban Phuc that returned impressive drilling intersections like 2.02m @ 4.64% nickel, 3.59% copper and 0.18% cobalt from 258.7m down-hole.
This higher-grade vein mineralization also includes impressive platinum group metal results in places, which are valuable by-products in their own right.
Higher nickel grades could significantly sweeten the high tonnage, but lower-grade disseminated sulphide ore streams, which are located throughout the project area.
With the geophysical work now vectoring Blackstone towards numerous nickel targets in Vietnam, the company is certainly in the right place at the right time, with commodity prices for the metal near six months highs at USD$16,000 per tonne.
Vietnam is one of the most beautiful countries in South-East Asia. Its people are warm and welcoming, its history is fascinating, its food is epic and the landscapes are simply stunning. It is also one of the fastest-growing golf markets in the world.
The seatbelt signs were flashing like strobe lights as air hostesses rushed to secure food and beverage carts while the plane weaved its way through heavy, rain-filled clouds. Some passengers were noticeably nervous … But Beryl from Ballarat appeared to be having the time of her life – and she continued to tell this weary writer all about her first trip to Vietnam.
To be fair to Beryl and her husband Don, who had been asleep against the window of the 787 Dreamliner since we boarded, their week abroad did sound as though it had been rather special – and it had been capped by an interesting visit to the War Remnants Museum in Ho Chi Minh City (Saigon).
As it turned out, the man sleeping through the turbulence had been one of the 60,000 Australians to serve in Vietnam between 1962 and 1975. His health had been deteriorating since his 80th birthday, so he wanted to show his wife of nearly 50 years where he had spent his early adulthood while he was still able to do so.
Vinpearl Golf Nam Hoi An. PHOTO: Supplied.
Beryl was an excellent storyteller … But I had been listening to her for well over an hour and I could no longer keep myself awake. After all, I had just experienced an exceptional week of my own, playing some of the finest golf courses in central Vietnam; one of the fastest-growing golf regions in South East Asia.
In fact, Vietnam is one of the fastest-growing golf markets in the world … According to the R&A’s latest Golf Around The World report, Vietnam currently has 78 golf courses with another 43 in various stages of development.
Our journey began 30 minutes south of Hoi An at the newly-opened Vinpearl Golf Nam Hoi An, which was completed in 2018 and is part of the adjoining five-star resort, featuring everything from tropical villas to theme parks and an on-site safari.
Designed by International Management Group (IMG) course architect Steve Shepherdson, Vinpearl is your quintessential resort course and caters for players of all abilities, providing five different teeing options. Its playing surfaces are already in superb condition – given it’s less than 12 months old – and it remains closed every Tuesday to allow grounds staff the freedom to complete any necessary maintenance work.
“According to the R&A’s latest Golf Around The World report, Vietnam currently has 78 golf courses with another 43 in various stages of development.”
The par-72, links-style layout stretches to 6,515 metres from the tips and features wide, strip-cut fairways, gently-rolling greens, white-sand bunkers and numerous water hazards dug into relatively flat terrain.
Put simply, Vinpearl, with its well-appointed clubhouse, friendly caddie service and grass-tee driving range, is doing exactly what it needs to do as one of the new kids on the block: It is providing visitors with terrific on-site facilities and 18 well-presented golf holes, some of which are truly memorable and deserve mentioning here.
The opening hole, which measures 369 metres from the tips, requires precision off the tee and is guarded by an intimidating waste bunker along its entire left flank. Should you manage to find the short grass with your drive, your next test will be to hit the slightly-elevated, kidney-shaped green and avoid the bunker to the right, which is all easier said than done of course – especially if you, like me, struggle to draw the ball.
Montgomerie Links. PHOTO: Supplied.
Anyway. The best stretch of holes, for mine, begins at the par-5 7th.
The small putting surface of the 477-metre challenge is certainly reachable in two for
the longer hitters. But first, you will need to ensure your tee shot stays airborne over the 175-metre-long lake and avoids the two fairway traps and surrounding fir trees. Water, bunkers and shrubbery combine to bracket the lay-up area and tilted green, so the second shot becomes crucial in determining the score you will eventually pencil on your card.
Our group – which included the young, Sydney-based professional Andy Chu – was unanimous in saying this hole was one of the standouts for the entire trip. So, too, was the short one-shotter that followed.
The 144-metre par-3 8th presents an undulated green that is protected by two bunkers on either side. Hitting the large, paspalum putting surface shouldn’t prove too challenging – and you should be able to give yourself a decent look at birdie. But the sloping nature of the green could (and in our case, did) lead to its fair share of three-putts.
The outward nine concludes with an intimidating, 424-metre par-4, which demands a strong tee shot to be struck over water and between four fairway bunkers. One of the more difficult approach shots at Vinpearl then beckons, as the heavily-slanted green is adjacent to yet another lake … Par here would truly be an excellent score.
Montgomerie Links. PHOTO: Supplied.
Before leaving Hoi An, you simply must head into the well-preserved Ancient Town, where you will discover iconic landmarks like the Japanese Covered Bridge and the Precious Heritage Museum, which contains striking portraits of the ethnic tribes of Vietnam, captured by French photographer, Réhahn.
The award-winning Montgomerie Links, about 25 kilometres north of Vinpearl, was designed alongside the Vietnam East Sea by its Scottish namesake and opened in 2008 to immediate praise.
The World Golf Hall of Famer, who topped the European Tour Order of Merit eight times, has created one of the most-celebrated layouts in Asia. Its large greens, rippled fairways and wind-swept dunes effectively reflect the courses Montgomerie grew up on.
But this is Vietnam we’re talking about – where 2,500 millimetres of rain can fall per year – so it would obviously be difficult to build anything of note without lakes and streams, which are plotted cleverly throughout the routing. There are also more trees than you would perhaps expect to find on your typical links-like property.
Ba Na Hills. PHOTO: Supplied.
The par-72 is 6,484 metres from the “Monty” tees. But, just like Vinpearl, it can be enjoyed by players of all skill levels, thanks to its four teeing options; the shortest of which reduces the course to 4,665 metres.
One of the standout holes at Montgomerie Links is undoubtedly the tricky par-3 5th. The 134-metre tee shot here is played directly over water to an expansive green defended by an impressive ‘Lion’s Mouth’ bunker.
The shrub and tree-covered dune behind the green shelters the prevailing headwind, so taking an extra club or two and knocking it down is the order of the day to entertain the idea of making par or better.
Another high-quality offering is the thought-provoking par-5 12th hole, which, at 482 metres, is a genuine three-shotter thanks to the 17 bunkers scattered cleverly throughout the trek. The tee shot here will need to carry the better part of 200 metres to clear the beginning of the lake, – which then proceeds to border the left portion of the fairway – and pull up before three hungry sand traps. From here, the conservative play is to lay up between another set of bunkers before approaching the elevated putting surface; going for the green in two would be an incredibly aggressive move, given the deep bunkers that await anything falling short.
Before I had rudely dozed off … Beryl had been talking about visiting Ba Na Hills, which is an old, French resort situated in the mountains about two hours’ drive inland from Montgomerie Links.
Ba Na Hills. PHOTO: Supplied.
The hill station, now an amusement park run by Sun World, is 1,500 metres above sea level and is reached by travelling on the longest cable car system in the world. The eight-kilometre climb into the clouds is truly spectacular and features views over the 150-metre long Golden Bridge, which opened in 2018 and is supported by two giant stone hands.
My main reason for visiting, however, remained at the foothills of the mountains at the highly-acclaimed Ba Na Hills Golf Club.
Designed by Luke Donald, Ba Na Hills opened in 2016 and has since been named the best golf course in Asia two years running by the World Golf Awards. Not bad considering it remains the only Donald-designed track on the planet. What’s more, it can be enjoyed after dark, too, thanks to numerous floodlights placed strategically around the property.
The former World No.1, who partnered with IMG for the project, ensured the par-72 would provide an enjoyable and fair challenge to players of all abilities.
Framed by native forest, the undulating layout meanders its way around picturesque streams and lakes, while white-sand bunkers bracket striped couch fairways and smooth-rolling greens.
Ba Na Hills. PHOTO: Supplied.
Guests deciding to play from the championship tees should do so knowing they will be taking on the longest course (7,184 metres) in Vietnam, something that is best exemplified by the monstrous 648-metre 5th hole.
The three-shotter, thankfully, begins from an elevated tee but your drive still needs to travel at least 220 metres to avoid a lengthy water hazard to land safely on an angled fairway, which then snakes its way on to an hourglass green.
The pick of the holes at Ba Na Hills is the 176-metre par-3 8th, with its impressive green complex framed beautifully by an inspiring mountainous backdrop. The tee shot needs to clear another lake and avoid five bunkers to find the large, tilted putting surface. Par will feel like an achievement here, despite being rated the fifth-easiest hole on the card.
Travel 30 minutes east from Ba Na Hills and you will reach the rapidly-developing coastal city of Da Nang, which is certainly worth visiting for the magnificent Dragon Bridge, which breaths fire and water at 9pm on Saturday and Sunday.
A further 60 minutes’ drive north is the Sir Nick Faldo-designed Laguna Golf Lang Co, which is nestled between the mountains of Bach Ma National Park and the pristine waters of Chan May Bay.
“Ba Na Hills opened in 2016 and has since been named the best golf course in Asia two years running …”
Laguna opened in 2012 and weaves its way through trees, over rice paddies, along the beach and around natural streams and rock formations. Its bunkers and waste areas are filled with golden sand and the routing requires shots to be shaped more dramatically than the aforementioned courses.
What Laguna does have in common with the other layouts, however, is its five sets of tees that accommodate all players. The par-71 starts at 4,790 metres and maxes out at 6,493 metres from the tips.
The penultimate hole of the outward nine received plenty of praise from our group and clearly left a lasting impression.
Laguna Lang Co. PHOTO: Supplied.
The par-3 8th is played uphill – over the stream that runs like an artery around the entire property – to an undulated green, which sits 148 metres away. Strong onshore winds tend to whip up from behind the putting surface here, meaning visitors will probably need long irons to give themselves the chance to make birdie.
Our final stop was on the outskirts of the wonderfully chaotic Ho Chi Minh City at the oldest golf course in the country: Vietnam Golf & Country Club.
This 36-hole complex features two good-quality golf courses, which are divided by mature palm trees and other native vegetation. Lee Trevino designed the newer East Course in 1997, while Taiwan’s Chen King Shih was the man behind the 25-year-old West Course.
We opted to play the original layout and were immediately impressed by the strategic nature of the tree-lined design.
“Laguna weaves its way through trees, over rice paddies, along the beach and around natural streams and rock formations.”
One of the highlights of the par-72 – apart from its night-golf capabilities, abundant birdlife and true-rolling Bermuda greens – comes midway through the round, at the par-4 11th.
The 397-metre task doglegs left and features an imposing palm tree in the middle of the fairway, something that should generate plenty of conversation within your playing group as it did ours. The slightly-elevated green is wide but quite shallow, so correct club selection becomes vitally important for your approach shot.
Vietnam G&CC also offers on-site accommodation, insightful caddies, restaurants and spacious locker rooms, which served as an excellent place to reflect on my entire week before rushing to the airport and sitting down next to my new friend, Beryl.
Laguna Lang Co. PHOTO: Supplied.
WHERE TO EAT
The population of Vietnam has doubled in size to more than 95 million since the end of the war in 1975. Its people are warm-hearted, welcoming and enthusiastic about sharing their unique culture, which has been heavily influenced by the Chinese and the French. Perhaps that’s why food is spoken about with such passion.
Throughout our journey – visiting Hoi An, Ba Na Hills, Da Nang and Saigon – we sampled everything from banh mi (baguettes) and pho (noodle soup) to Vietnamese spring rolls and fish cakes.
Mai Fish, in Hoi An, is situated in a heritage house on the banks of the Thu Bon River and serves most of the aforementioned, classic Vietnamese dishes.
So, too, does the Racha Room in Ho Chi Minh City. It also doubles as an intimate cocktail bar and serves modern interpretations of South East Asian cuisines.
Meanwhile, in Da Nang, you will find what seems like an endless selection of rooftop bars, jazz clubs and restaurants.
WHERE TO STAY
• Located south of Hoi An, Vinpearl Resort & Golf Nam Hoi An covers the coast of Binh Minh beach and features everything from luxury villas, restaurants and bars to theme parks and safari tours. The five-star resort is also home to Vinpearl Golf Nam Hoi An.
• Should you wish to extend your time atop Ba Na Hills and take in everything the 19th century French Village has to offer, Mercure Danang French Village Ba Na Hills offers elegant, four-star rooms with panoramic views over the city of Da Nang.
• The four-star Monarque Hotel Danang is situated just two minutes from the iconic My Khe Beach and features comfortable rooms and an impressive rooftop swimming pool.
• Anybody planning on playing the Faldo-designed Laguna Golf Lang Co should really consider staying in Hue, at the spectacular Vedana Lagoon Resort & Spa – which offers luxury rooms and the first over-water bungalows in Vietnam. The resort also boasts extensive spa treatments, an indoor gym and numerous places to wine and dine.
• In bustling Ho Chi Ming City, Hotel Nikko Saigon offers five-star luxury and spacious rooms within the CBD of HCMC. The hotel is just 20 minutes’ drive from the international airport.
