Will Vietnam become the next high-performing economy in Asia?

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Vietnam should take advantage of the next wave of digital technologies such as blockchain, Artificial Intelligence, Internet of Things and cloud-based services to become Asia’s next high-performing economy and improve the living standards of its residents, experts urged at a meeting held on Wednesday (May 22) in the city.

Dr Lucy Cameron, lead author of the “Vietnam’s Future Digital Economy Towards 2030 and 2045” report and Australian senior research consultant, said the country should carefully navigate a number of risks while undertaking digital transformation. Vietnam News Agency reports.

“Vietnam has been one of the world’s fastest-growing economies and has already become one of the most dynamic countries in the East Asia region,” she said.

A boom in digital hardware and software exports has occurred, and Vietnam’s young population is rapidly taking up new mobile internet services, the report said.

Dr. Lucy Cameron @VNExpress

The Government is also implementing Industry 4.0 policies to modernize major existing industries and develop new ones, it added.

Digital transition is expected to add about 1.1 per cent of GDP growth each year for Vietnam by 2045, while Vietnam’s growth is fast and inclusive, which is suitable for digital transformation, according to Cameron.

But to sustain high growth, Vietnam will need to overcome substantial challenges, Cameron said.

The population is aging, while climate change and rapid development is straining the environment and food production as the country rapidly urbanises.

The workforce needs to learn higher-level skills, especially as jobs are becoming automated in the agriculture and manufacturing sectors.

Nguyễn Văn Bình, chairman of the Central Economic Commission, said that mastering the digital economy created an opportunity for Vietnam to maintain rapid and sustainable growth through the next phase of development.

“Strong leadership and institutions will be key in Vietnam’s development across all economic sectors, including the private sector,” he said. “Digital transformation resulting from this strong leadership will unblock bottlenecks to promote further economic development.”

Chu Ngọc Anh, minister of Science and Technology, said the report provided a blueprint for the country to plan for the country’s digital future.

“It is a tremendous example of successful collaboration between our national innovation systems,” he said.

Craig Chittick, Australian Ambassador to Vietnam, said the report was the first major output of the Aus4Innovation partnership between Australia and Vietnam.

“It will guide our work over the next three years as we deepen the collaborative linkages between our two countries and help strengthen the Vietnamese innovation system as it adapts to the challenges and opportunities of the digital economy,” he said.

Australia has worked with Vietnam to identify seven mega-trends affecting Vietnam’s future digital economy.

These include the impact of emerging digital technologies, new export markets for VVietnam, the development of modern digital infrastructure, the push to smart cities, the rise of digital skills and services, and changing consumer behaviours.

Mega-trends informed the report’s development of four potential future scenarios, which provide a blueprint for decision-makers to plan for Việt Nam’s future digital economy.

With a young population, high investment and a location in the heart of high-growth Asian economies, Vietnam has a good chance of surging forward with new digital tools, if the transition is managed well.

Digital economy

In 2017, the “Vietnam’s Future Digital Economy Towards 2030 and 2045” report was launched by the Ministry of Science and Technology and the Commonwealth Scientific and Industrial Research Organisation.

The report provides economic modelling for potential scenarios of growth for Vietnam’s digital economy up to 2045.

It aims to serve as a strategic decision-making tool for leaders in government and businesses negotiating the new wave of digital innovation and the next phase of economic development.

The first report “Vietnam Today”, which was released last year, examined the state of Vietnam’s macro-economy and digital economy.

The present report, which was released in May, updates this research and examines the state of Vietnam’s economy and digital economy in early 2019 with a main focus on the agriculture and manufacturing sectors.

The report is part of the Vietnam’s Future Digital Economy project, an innovative joint venture between the governments of Vietnam and Australia.

The project is the first major output of the Aus4Innovation program launched in 2017 by the governments of Vietnam and Australia.

This article first appeared on Vietnam News

Vietnam set to build nuclear research centre

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Russia, Vietnam have signed memorandum on construction of nuclear research center. The agreement with Vietnam on construction of a nuclear research and technology center in the country was signed in 2011.

Chief Executive Officer of Russia’s state-run nuclear corporation Rosatom Aleksei Likhachev and Vietnam’s Minister of Science and Technology Chu Ngoc Anh have signed a memorandum on implementation of the project to construct a nuclear research and technology center in Vietnam, TASS correspondent reports from the spot.

According to TASS, the document was signed following the talks between Prime Minister of Russia Dmitry Medvedev and Prime Minister of Vietnam Nguyen Xuan Phuc.

The agreement with Vietnam on construction of a nuclear research and technology center in the country was signed on November 21, 2011. The document envisions provision of the center with a nuclear research reactor, research laboratories, equipment and required infrastructure.

Memorandum of understanding on the implementation plan for the project specifying further steps on the project’s implementation was signed on June 29, 2017.

Private Equity in Vietnam – Catching up and getting ahead

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As the US-China Trade War threatens to shake up the established global value chain, private equity investors are looking for new opportunities in South East Asia, especially the hotspot neighboring country – Vietnam. Venture Capital and Private Equity Investment in Vietnam has soared to a new record level in 2018 and promises vast potential for growth in the coming years.

The Vietnam Private Equity Investment Outlook 2019 is the latest issue of annual study, conducted by Grant Thornton to offer unique insights and perspectives into the private equity market in Vietnam. The 2019 edition would take a special focus on investment’s value creation: how private companies ground support from Private equity funds to seize opportunities and overcome challenges of intense competition and digital disruptions.

Survey respondents represented a wide range of individuals and institutions that are currently working in the private equity investment sector, including: Corporate Investors and Investment funds (23%); Advisory firms (29%); Private companies (29%); Securities firms (9%); and Others (10%).

Grant Thornton Office

The first part of our report recaps the private equity landscape in Vietnam and establishes investment outlooks across key promising sectors. In the following parts, Grant Thornton walks you through the issues during the entire investment process from the perspectives of both investors and investees.

Click here to download PDF

This study will equip you with insights for decision-making and accelerate your investment journey in Vietnam’s Private Equity market.

Get your credit card for a chance to experience the luxury cruise line around Asia

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  • Apply now for any type of credit card at Vietnam International Bank (VIB) to win a ticket for two to experience the best in luxury cruising around Asia
  • Top 03 highest spenders of any credit card will get 03 travel tickets by yacht for 2
  • Every new card holder will receive a lucky draw number to get up-to VND1 million cash back

The offers are available until August 15 for new cardholders, who enjoy the “Experience the Asia Aboard a Luxury Cruise Ship with VIB Credit Card” promotional campaign with card spending of more than VND1 million during the promotional period.

Moreover, customers have chances to experience outstanding benefits for all spending with unique types of credit cards integrated modern technology and attractive promotions for VIB’s cardholders.

Unique credit cards with outstanding utilities

Since 2018, VIB has launched 6 new credit cards, which have been well received by the market. Such as, the Happy Drive Credit Card – the only credit card in the market offering up to 500 litres of gasoline per annual and cash-back up to 30 percent on car maintenance fees; VIB Financial Free Credit Card, the 1st credit card in the market which offers free annual fee and cash withdrawal up to 100% card limit. Or other credit cards with outstanding benefits such as VIB Cash Back, VIB Rewards Unlimited, VIB Travel Elite with the best refund, reward points, miles and currency exchange transaction fee. VIB has recently launched Zero Interest Rate credit card, which has been perceived as the first and the only credit card waiving interest rate for all card expenses during five years.

VIB has launched 6 new credit cards with outstanding benefits

Attractive and continuous promotions

In addition, VIB’s cardholders will be offered 0 per cent of installment at hundreds of VIB’s partners all over the country, discounted up to 50 percent for food, travel, hotel, health care expenses. Especially, VIB has exclusive privileges for the cardholders such as: 15 per cent discount on Wednesday at Agoda.com; VND300,000 discount on Sunday at Shopee.vn; 10 percent cash back for all transactions at Booking.com; 0 percent installment at British Council, Dale Carnegie Việt Nam; 0 per cent installment when buying Prudential or Liberty Insurance.

Integrated modern technology

VIB’s credit cards are applied technologies to quickly satisfy the demands of using credit cards, reduce paper and protect the environment. VIB is also the first bank to launch Virtual Card feature, enabling customers to make online transactions immediately after issuing credit cards on the system without receiving physical ones; and Green PIN feature, allowing customers to receive and change PIN immediately via MyVIB mobile banking application without receiving PIN on paper. In the early of May, VIB has implemented contactless payment feature for its credit cards, helping customers to complete transactions with a slight tap to payment terminals instead of swiping the cards over magnetic stripe or chip reader.

VIB Credit Card leads e-commerce transactions in Vietnam

Additionally, VIB’s credit cards are also applied advanced security technology such as 3D-secure and integrated features allowing the cardholders to easily manage cards everytime at everywhere via Internet Banking or Mobile Banking application MyVIB. This also helps the cardholders actively lock cards in emergency cases or activate, lock/open online payment feature, reset passwords and redeem reward points conveniently and quickly on mobile phones within 30 seconds without contacting to hotline or going to VIB’s branches.

With an income from VND7 million per month, customers can immediately own VIB credit cards by accessing to www.vib.com.vn or VIB fanpage, calling hotline 18008192 or going to any VIB’s branches all over the country. If using MyVIB, customers click “Apply for VIB products”, choose “Credit card”. Then VIB’s staffs will contact within 5 minutes to consult before the credit cards will be issued and delivered to customers.

More details can be found here

India’s tech giant invests $650 million to an IT centre in Ho Chi Minh City

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Hindustan Computers Limited (HCL), one of three largest IT companies in India, expressed its interest in developing an IT centre in Ho Chi Minh City with the total investment capital of $650 million, and generating 10,000 engineering jobs.

“We are looking to develop the project within the next five years. Last year, the we studied the Vietnamese economy and the country’s investment attraction policies and found that Vietnam has numerous factors that are favorable for HCL. Especially, Ho Chi Minh City, the centre of education in the country, which is a supply source for skilled human resources,” said Sanjay Gupta, deputy chairman cum strategy director of HCL at a meeting with the vice chairman of the Ho Chi Minh City People’s Committee on May 17.

Related: Company registration in Vietnam

“We expect that it is expected to kick off the project in the fourth quarter of this year” Sanjay Gupta added.

As one of the three largest IT companies in India, HCL generates a revenue of $8.4 billion a year on average. If the project comes true, it will be a highlight of HCL’s overseas investment plan.

HCL is an Indian multinational IT service and consultancy company headquartered in Noida, Uttar Pradesh. It is a subsidiary of HCL Enterprise. Originally the R&D division, it emerged as an independent company in 1991 when HCL ventured into the software services business.

The company has offices in 44 countries, including the US, France, and Germany, and the UK with a worldwide network of R&D, innovation labs, and delivery centers, and 137,000 employees. HCL’s customers include 250 of the Fortune 500 and 650 of the Global 2,000 companies.

To be advised on how to start your business in Vietnam as a foreign investor, you may contact the Agency for Business Registration via Viber, WhatsApp and Hotline at: +84903189033 or visit gbs.com.vn

Mark Zuckerberg has too much power and needs to step down as CEO: Facebook’s former security chief

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Mark Zuckerberg should step aside for a new CEO at Facebook, Alex Stamos, the company’s former chief security officer, said on Tuesday.

The move would curtail Zuckerberg’s power and allow him to focus on what he likes best — developing the company’s products, Stamos said at the Collision conference in Toronto. It would also be a sign that he’s serious about changing the culture at Facebook, he said.

“There is a legitimate argument that he has too much power,” Stamos said. “He needs to give up some of that power. And if I was him, I would go hire a new CEO for the company.”

According to Business Insider, Stamos has a candidate in mind for whom Zuckerberg should choose to replace him: Microsoft President Brad Smith. Smith helped the software giant make peace with government regulators when it was under similar scrutiny in the early 2000s over its business practices, as Facebook is now.

“My recommendation would be Brad Smith from Microsoft,” he said. “But some adult who has gone through this before at another company.”

Facebook representatives did not immediately respond to an email seeking a comment on Stamos’ remarks.

Breaking up Facebook won’t solve its problems, Stamos said

Alex Stamos, Facebook’s chief security officer. Getty

Facebook and Zuckerberg have been under scrutiny for much of the past three years, starting with the social-networking company’s role in the spread Russian misinformation and propaganda during the 2016 US presidential election. The company then became embroiled in a series of privacy and security mishaps last year, including the Cambridge Analytica scandal.

In recent months, there’s been a growing call for regulations that would curtail the company’s power and restrict how it does business in addition to calls for antitrust enforcement that would break it up.

There are legitimate legal arguments for splitting up the company — and for splitting off YouTube from Google, Stamos said. Those arguments are based on the impact Facebook and Google’s power has on competition in their respective markets.

But breaking up the companies would not address the fundamental threats and dangers they pose to their users and society, such as their effect on users’ privacy and the spread of misinformation, he said.

“You can’t solve climate change by breaking up ExxonMobil and making 10 ExxonMobils, right?” he said. “You have to address the underlying issues.”

Got a tip about Facebook or another tech company? Contact this reporter via email at twolverton@businessinsider.com

Vietnam hosts International Piano Competition

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Talented pianists from three years old and above have been invited to take part in the first “International Piano Competition – Your Road to Carnegie Hall in Vietnam”.

Brought to Vietnam by Piano House International in collaboration with Asia Music and Performing Arts Education (AMPA Education), the competition aims to bring international young talents to New York’s famed Carnegie Hall. Vietnam News Agency reports.

This is part of Piano House’s grand mission to make piano music more accessible and make it easier for the community to access the piano, which is known as the king of musical instruments.

Finalists will compete in New York City from September 15-16, and winners of all categories will be invited to perform at Carnegie Hall’s Weill Recital Hall Gala on September 16.

Ho Chi Minh City is the second stop for the preliminary round audition after Bangkok.

The competition’s live audition took place in HCM City on May 17 and will be organised in Taiwan and Singapore next weekend; and Surabaya and Medan in Indonesia at the end of August.

Vietnamese contestants who miss the audition round in Ho Chi Minh City can join the auditions in other cities.

In Vietnam, the contestants will bring their unique performances to the live audition to show international judges that Vietnam has special talents. The preliminary round is expected to offer exclusive and spectacular performances from many contestants of all generations and ages.

Pianist Adam Gyorgy, a judge for the competition, said: “Vietnam has a great tradition in piano teaching and learning. This competition aims to bring opportunities and experiences to Vietnamese kids from a very young age to offer their talents to the world on the most prestigious stage.”

“I remember how life-changing it was for me to perform at Carnegie Hall, starting in the small hall and graduating to the big hall. The competition offers a unique opportunity for teachers and students. I hope that many kids join and compete in New York at the end. The winners will play in Carnegie Hall’s Weill Recital Hall which has an amazing history.”

According to VNS/VNA, Piano House International is an online community of piano players around the world where people can book and share their practice room with other piano lovers who want to practice.

Teacher fired after being caught beating children

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A primary teacher in Hai Phong City has been fired for hitting several pupils while doing an exam.

On May 8, parents of Hoang Gia Duc, a pupil at Class 2A7 at Quan Toan Primary School, reported that his face was swollen and his legs had red marks after being beaten by his teacher, Nguyen Thi Thu Trang. Duc’s parents also reported to the police.

Trang has been suspended for six months and banned from performing in the role of head teacher for one year.

However, on May 15, Duc’s parents released a video clip in which Trang had beaten many pupils while they were taking an exam. Duc is the one who was beaten the most. In the clip, another teacher, Le Thi Van also hit two pupils until they cried.

Hong Bang District People’s Committee concluded that the punishments were too light since Trang had slapped and beaten several pupils, upsetting the parents and pupils alike. Her action badly affected the school and the education sector of the district.

After the case was brought to light, Trang didn’t visit and apologise to the pupils in time. Pham Thi Van should also be punished.

Hong Bang District People’s Committee asked Quan Toan Primary School to fire Pham Thi Trang and punish Pham Thi Van accordingly. They must report the results back to the district people’s committee by May 21. Quan Toan Primary School was asked to work with the parents’ committee at school to hold a meeting to apologise to the pupils at Class 2A7.

Hong Bang District Department of Internal Affairs was asked to review and reprimand the management board of Quan Toan Primary School.

Source: Dtinews

Food safety, air pollution top social concerns in Vietnam

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Food safety and air pollution are issues that concern urban Vietnamese the most, a recent survey has found.
The survey, done by market research firm Indochina Research, interviewed more than 300 people aged 18 to 60 in the country’s biggest cities Hanoi and Saigon, about what they thought were the most pressing social concerns.

A very high 86 percent identified food safety, while 77 percent said air pollution. Other issues of concern to comprise the top five were water pollution, sexual harassment and healthcare.

While Saigon residents cared more about healthcare and education access, gender discrimination, unfair competition and racism, Hanoians worried about air pollution.

Women in particular paid much more attention to food safety, healthcare access and sexual harassment than men, according to the survey released late last month.

People from lower-income backgrounds cared more about healthcare, clean water and access to education access, while higher-incomers paid more attention to sexual harassment and corruption. The survey findings suggested that low-income people tend to care more about issues that directly affect their daily lives, rather than political or global issues.

Food poisoning is not an uncommon occurrence in Vietnam, with local media reporting several cases of people being sent to the hospital over the issue. Last year, 55 children aged 7 to 12 had to be hospitalized after a church service in Saigon where they were served bread rolls and chicken floss. Hanoi also reported a similar incident last year when 188 nursery kids were hospitalized with food poisoning symptoms after partaking of a buffet with sausages, beef, rice and vegetables.

586 cases of food poisoning, leading to three deaths, were recorded in the country in the first four months of this year, according to the General Statistics Office.

Last year, Vietnam recorded over 68,000 facilities violating food safety standards, it was revealed at a government meeting on food safety. Deputy Prime Minister Vu Duc Dam blamed it on food processing practices.

Meanwhile, Hanoi was ranked the second most polluted city in Southeast Asia in a World Air Quality Report prepared by Switzerland-based air quality monitor IQ AirVisual. Saigon was ranked 15th in the report that was released in March.

It said there was a strong correlation between industry, transportation and air pollution in urban areas. Hanoi in particular, which has 7.7 million people, has more than five million motorbikes and 550,000 cars.

However, Vo Tuan Nhan, deputy minister of Natural Resources and Environment, rejected the report’s findings, saying it was based on incomplete data as the report did not cover all cities of 11 Southeast Asian countries.

Source: Vnexpress

Story of a father who criss-crossed China to rescue trafficked daughter

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In an old house in suburban Hanoi, the 60-year-old man recalls his year-long effort to rescue his daughter from human traffickers in China.
Almost a decade has passed, but Thang still remembers every detail of the horrific event and the 30,000 kilometers he traversed looking for her.

In 2007 Luong, his third daughter, 16, asked him to get a cell phone to help with her studies. Tragedy struck when the innocent girl fell prey to sugary text messages from a stranger, and agreed to hang out and was tricked and sold in Guangxi, China.

Thang’s family searched far and wide, going through 11 northern provinces with a fine-tooth comb. He travelled to every place she could have possibly gone, looked in every Internet cafe, bus station, massage and karaoke parlor, but in vain. The last vestige of hope disappeared when the police said they could not find her.

Thang at present. Photo by VnExpress/Hien Trinh

It was then that he began to suspect his daughter had been trafficked to China. Someone pointed him to a man in Phu Tho Province who had tracked down his missing child, and Thang met and sought his advice.

He then began his journey with nothing but love for his child to guide him.

In November 2007 Thang took a train to Pingxiang, Guangxi. Alone in the strange city, seeing the crush of people at the local bus station and not knowing a single word of Chinese, he shed tears of frustration.

“How can I find my child in this huge crowd?” Thang remembers thinking in utter despair.

Luckily for him, a Good Samaritan appeared. Huu, a man who could speak Vietnamese, volunteered to help him. He took Thang to a police station, and showed him places where Vietnamese lived.

“I did not know Chinese, so he also wrote down some sentences of conversation so that I would not get lost,” he says about the kind man.

Thang went to China a second time later, this time visiting some towns in Guangxi Province. A local woman was his benefactor this time, helping him travel to Nanning city and taking him to the Vietnamese consulate to report. After a few days of searching in vain his money ran out, forcing him to return home.

Challenge after challenge

A complaint Thang sent to Chinese authorities asking them to look for his child. Photo by VnExpress/Hien Trinh

After the two fruitless attempts, Thang decided to prepare better since the next journey could last years.

He enrolled for a Chinese course in Hanoi. Though many years have passed, his Chinese teacher still remembers his diligence.

“He was the first person to arrive and the last person to leave the class. He used to stay after class to ask me the way to pronounce and write some place names in Chinese,” Tran Thanh Hoa recalls.

At first Hoa was surprised, but she was so emotional after knowing his story.

“Sometimes I would not see him in class for a while. He would return saying he went to China to look for his child.”

Thang then sold a piece of land to get some money and set off on another trip to Guangxi. This time he carried thousands of leaflets announcing a reward of VND50 million ($2,146) for anyone who could provide information about his daughter, but again he had no luck.

On subsequent trips he began to visit brothels to seek information since he guessed his daughter might have been sold to one of them. From Guangxi, he travelled to Yunnan Province and then Guangdong Province.

“The total distance I travelled was around 30,000 kilometers. Sometimes in just one day I travelled thousands of kilometers.”

He never contemplated giving up, tormented as he was by constant memories of his child. “She was still young, and being sold into prostitution would be hell.”

Thang’s trips were often dangerous, some even a threat to his life. Once when he was going through a village in Yunnan, he was surrounded by a group of armed people who thought he was a thief. But after hearing his story, they let him go.

Thang usually chose taxis driven by women. “If I got a male driver with evil intentions, I could have lost all the money and my life, not to mention not saving my child.”

Magical reunion

A map of Guangxi Province in China Thang used to search for his daughter. Photo by VnExpress/Hien Trinh

A year had passed when he returned from his 15th trip to China and there was the first glimmer of hope.

In late 2008 one of Thang’s other daughters received a message from her missing sister with the name of the town she was in. She was indeed in China.

When her guards had been distracted, she managed to sneak out and send a short message home.

Thang dropped everything and hurriedly left for China.

This time he called Huu, the kind Chinese man, and asked for help. Finding a brothel in the town she had mentioned, the two men entered the place pretending to be customers and asked for Vietnamese women. A young girl came out.

It was his daughter!

“My child!” Thang cried at the intensely emotional moment when he saw his daughter again after a whole year.

His heart was pounding, his legs were trembling, but he had to hold back his tears and pretend to leave.

The girl almost burst into tears on seeing her father after a year of despair at the brothel. But she too had to fake calmness to safeguard all of them.

“If we did not calm down, we could have died there.”

They walked out and told the police. The wait felt like forever to Thang and he was also worried the pimps would find out and again spirit his child away.

But the police arrived, closed down the brothel and rescued 10 Vietnamese girls.

Before the 2009 New Year the Chinese police returned Thang’s daughter to the Vietnamese Border Defence Force more than a year after she had been trafficked to China.

It is more than 10 years since it happened, but an officer still clearly remembers the case of the man who tracked down his trafficked daughter himself in a foreign country and reported to the police.

Things have been much happier since for the Thang family.

His daughter resumed her studies.

She now has a happy family with two children and an understanding husband.

“Many people ask me how I was so persistent.

“Because I am a father.

“I think any father in that situation would have done the same.”

*Names have been changed to protect privacy.

Source: Vnexpress

Google blocks Huawei’s access to Android updates: What you need to know

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Google is blocking Huawei from some updates to the Android operating system, in a blow to the world’s second-biggest smartphone maker.

The move comes after US President Donald Trump signed an executive order barring US companies from using foreign telecoms equipment deemed a security risk.

Google on Monday (May 20) said: “We are complying with the order and reviewing the implications.”

HOW WILL THIS AFFECT HUAWEI USERS?

Users of existing Huawei devices will not be affected for now – they will still be able to update apps and access the Google Play Store.

“Google Play and the security protections from Google Play Protect will continue to function on existing Huawei devices,” a Google spokesperson said, without providing further details.

However, when Google launches the next version of Android, it may not be available on Huawei devices.

It is also unclear what this means for future Huawei phones.

Due to the business ban, Google will have to stop activities with Huawei that involve direct transfer of hardware, software and technical services that are not publicly available.

This means Huawei will only be able to use the version of Android that’s available through the open source licence, known as Android Open Source Project (AOSP).

Popular Google apps such as Gmail, YouTube and the Chrome browser that are available through Google’s Play Store will disappear from future Huawei handsets as those services are not covered by the open source licence and require a commercial agreement with Google.

WHAT’S THE IMPACT ON HUAWEI’S BUSINESS?

The impact is expected to be minimal in the Chinese market. Most Google mobile apps are banned in China, where alternatives are offered by domestic competitors such as Tencent and Baidu.

But the move will hugely damage the brand’s appeal to consumers outside China.

Almost half of the 208 million phones Huawei shipped in 2018 went to outside mainland China, and Europe is the most important overseas market where its devices currently have 29 per cent market share, according to technology research firm IDC.

“Having those apps is critical for smartphone makers to stay competitive in regions like Europe,” said Geoff Blaber, vice president of research, CCS Insight.

The business ban may also affect Huawei’s 5G plans.

“(It) may cause China to delay its 5G network build until the ban is lifted, having an impact on many global component suppliers,” said Ryan Koontz, a Rosenblatt Securities analyst.

WHAT CAN HUAWEI DO?

To get around the Google ban, Huawei would ultimately have to build its own operating system, as Apple has for its iPhones. That cannot be done in a hurry.

Software developers might feel compelled to offer a Huawei-specific version of their apps. Or the Chinese manufacturer could start a new branch of the Android family based on the open source version available now.

But that will all take time.

ARE THERE RISKS FOR GOOGLE?

The widespread mobile usage of Maps, Gmail and Google’s other services has helped the US company build a market-leading position with Android alongside its crushing dominance in desktop browsing.

But in cutting off Huawei, Google risks being deprived of the revenue-generating data of all those phone owners around the world.

And other Chinese smartphone makers, such as Xiaomi, Oppo and OnePlus, will be watching closely.

Should Huawei build its own system, it’s conceivable that those companies might join it, in a bid to end their own vulnerability to future actions by the US government or companies.

HOW DID THE BAN COME ABOUT?

Huawei has been the target of an intense campaign by Washington, which has been trying to persuade allies not to allow China a role in building next-generation 5G mobile networks.

Huawei founder and CEO Ren Zhengfei’s army background and his company’s opaque culture have fueled suspicions in some countries that the firm has links with the Chinese military and intelligence services.

The United States believes Huawei’s smartphones and network equipment could be used by China to spy on Americans, allegations the company has repeatedly denied.

“Chinese telecom companies like Huawei effectively serve as an intelligence-gathering arm of the Chinese Communist Party,” Senator Tom Cotton from the US Republican party had said after Trump’s emergency declaration last week.

WHAT’S BEEN HUAWEI’S RESPONSE?

Huawei said on Monday it would continue to provide security updates and services for its smartphones and tablets.

“We have made substantial contributions to the development and growth of Android around the world,” a spokesman said.

“Huawei will continue to provide security updates and after-sales services to all existing Huawei and Honor smartphone and tablet products, covering those that have been sold and that are still in stock globally,” he added, without touching on what would happen with phones it would sell in the future.

Huawei previously said that the company has already been preparing a contingency plan by developing its own technology in case it is blocked from using Android. Some of this technology is already being used in products sold in China, the company said.

“We have not done anything which violates the law,” founder and CEO Ren told Japanese media on Saturday, adding the US measures would have a limited impact.

“It is expected that Huawei’s growth may slow, but only slightly.”

Source: Agencies/CNA/AFP

Vietnamese model bashed for wearing revealing gown in Cannes

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A Vietnamese model has drawn criticism over her appearance at the 2019 Cannes Film Festival in France wearing a scanty black gown that leaves little to the imagination.

Model Ngoc Trinh arrived on the red carpet of the annual film festival on Sunday for the screening of German film A Hidden Life. The Tuoi Tre Newspaper, a local media reports.

Appearing in a sheer lace bodice with beaded detailing and a pair of black glittered heels, the 29-year-old brimmed with confidence as she posed in front of cameras amongst international stars.

UK tabloid newspaper Daily Mail describes Trinh’s Sunday ensemble as “the most daring outfit” of the night.

“Ngoc Trinh attended Cannes this weekend in an ensemble that was cut so high it made us wince,” Daily Mail comments.

Vietnamese model Ngoc Trinh walks on the red carpet at the 2019 Cannes Film Festival in Cannes, France on May 19, 2019. Photo: Getty Images

Her appearance has been rapped in Vietnam with social media users criticizing her risqué outfit, which they described as unfit for a formal event like Cannes.

Trinh’s appearance in Cannes was also thrown into question, as the model did not participate in any film project up for preview at this year’s edition of the film festival.

Vietnam’s Culture Ministry spokesperson Nguyen Thai Binh told Tuoi Tre Newspaper, Ngoc Trinh did not represent any official Vietnamese agencies in attending the festival.

How she shows up for the event is therefore “her business,” Binh said.

Vietnamese model Ngoc Trinh walks on the red carpet at the 2019 Cannes Film Festival in Cannes, France on May 19, 2019. Photo: Getty Images

“From my viewpoint, I consider [her outfit] to be anti-cultural and go against the fine customs of Vietnam,” the official said.

“This is truly an objectionable behavior and a ridiculous attempt at drawing attention.”

Founded in 1946, the Cannes Film Festival, held annually in the namesake city in France, previews new films of all genres, including documentaries from all around the world.

The invitational festival is held annually around May, and is one of the “Big Three” film fests alongside the Venice Film Festival in Italy and Berlin International Film Festival in Germany.

The 72nd Cannes Film Festival lasts from May 14 to 25.

Vietnamese model Ngoc Trinh walks on the red carpet at the 2019 Cannes Film Festival in Cannes, France on May 19, 2019. Photo: Getty Images

State Bank of Vietnam says ready to sell dollars to support dong

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(Reuters) – Vietnam’s central bank said on Tuesday it was ready to pump U.S. dollars into the market to stabilize the dong currency’s exchange rate, as it had come under pressure due to fallout from the U.S.-China trade war.

Vietnam’s dong has weakened 0.9 percent this year and has fallen nearly 2.8 percent from a year earlier, according to Refinitiv Eikon data. The dong was quoted at 23,380/23,410 per dollar on Tuesday.

“The dong has weakened over the recent days because of concerns about the new development in the U.S.-China trade negotiations,” Pham Thanh Ha, head of the State Bank of Vietnam’s monetary policy department, said.

The devaluation of China’s yuan since late April has also put pressure on the dollar-dong exchange rate, Ha said in a statement posted on the central bank’s website.

The yuan fell to its weakest level since December on Friday, and sources said China’s central bank will use monetary policy tools to stop yuan weakening past the key 7-per-dollar level in the near-term.

Ha’s statement comes days after media reports said that the Trump administration may add Vietnam to the list of countries it monitors for currency manipulation.

“The central bank will closely monitor market conditions… and will use monetary policy tools to stabilize the foreign exchange market,” Ha said in the statement.

He issued an assurance that Vietnam has ample supply of dollars as the central bank has been able to build up its foreign exchange reserves.

The government said in a statement on Monday that Vietnam’s foreign reserves had reached a record high, without giving a specific figure.

Reporting by Khanh Vu; Editing by Simon Cameron-Moore | Reuters

Two schoolboys drown at beach in southern Vietnam

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Boys were part of a group that got into trouble; three were rescued but the other two could not be saved

The bodies of two schoolboys were found at a beach in the Binh Thuan Province in southern Vietnam after they drowned while swimming.

Doan Cong Thanh and Tran Van Dau – Grade 9 students thought to be about 15 years old – were found on May 19 at a beach in Ham Tien Ward in Phan Thiet City, Viet Nam News reported. Phan Thiet is east and slightly north of Ho Chi Minh, the biggest city in the country’s south.

The boys were swimming with three friends but encountered difficulties in the water. The boys swam for a few minutes before signaling for help.

A rescue team immediately brought three of them to the shore while the other two could not be found for 10 minutes, by which time both were in a coma. The boys were taken to a local hospital but could not be revived.

In Vietnam, drowning is one of the main causes of death among children – more than 2,000 drown every year.

A report by government officials said a lack of swimming skills, poor supervision and natural disasters claimed the lives of more than 3,000 children between 2010 and 2015.

- Asia Times

What Vietnam Expects from Its First Internet of Things Innovation Hub?

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By Eden Estopace, Futureiot

The Hoa Lac Hi-Tech Park in Hanoi has welcomed a new addition to its research and development (R &D) zone — Vietnam’s first Internet of Things (IoT) Innovation Hub.

Set up in collaboration with Swedish telecommunications company Ericsson, the hub is expected to provide a platform for startups and to speed up research and development in IoT, especially within the context of Industry 4.0, according to a report in the Vietnamese government website.

“Minister of Science and Technology Chu Ngoc Anh said the centre will help connect and provide platforms to support innovation in startup firms, as well as create a learning environment for tech-savvy youngsters,” the report said.

Mobile operators, businesses, students, researchers will also benefit from the support they will receive in the commercialization of products.

The government report noted that the launch of the center coincides with the celebration of the 50th founding anniversary of Vietnam-Sweden diplomatic ties.

Denis Brunetti, President of Ericsson Vietnam, Myanmar, Cambodia, and Laos, was quoted in the report as saying that the “operation of the centre will help promote cooperation between the two nations.”

Things are looking up for Vietnam. Data from the World Bank shows that GDP reached an all-time high in 2017 at $223.78 billion.

Bloomberg reported recently that “foreign direct investment in Vietnam has climbed for six consecutive years; the economy is humming, with a growth rate of about 7 percent.” It said the country is also emerging as a “winner” in the trade war between the US and China.

Related: Company Registration in Vietnam

On May 10, 2019, Vietnamese telecommunications operators Viettel Military Industry and Telecoms Group piloted the first call using 5G technology, the government website reported. During the piolot, the mobile internet speed reportedly reached 1.5-1.7 Gigabits per second.

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