Attempt to control Vietnam’s average CPI of 2019 at 3.3 – 3.9 percent

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Vietnam’s Deputy Prime Minister Vuong Dinh Hue has just asked to take the initiative in operating measures to firmly control inflation in 2019.

Need to monitor inflation risks: According to statistics, the consumer price index (CPI) in the first quarter of 2019 increased slightly in January, the average of the first 3 months was estimated to increase 2.63% compared to the same period in 2018, is the lowest level in 3 consecutive years recently. Basic inflation increased slightly, up 1.84% over the same period in 2018.

Vietnam Institute for Economic and Policy Research (VEPR) said that the inflation increased slightly in the first quarter of 2019 mainly due to the increase in energy prices.

However, the economy in the second quarter of 2019 could still face with many potential risks due to an increase of 8.36% in electricity prices on 20 March, which may make CPI increase by 3.3%. VEPR said that in the context of fluctuating world commodity prices, along with the imposition of an environmental protection tax ceiling on petroleum from 01 January 2019, the State Bank could still need to monitor inflation risks in time to take appropriate measures.

VDSC

Exports of FDI Enterprises Fell Sharply In The First Half of April, 2019

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Total import and export value of FDI enterprises in the first half of April 2019 reached USD12.37 billion, down 14% compared to the second half of March 2019.

In the first 15 days of April, FDI enterprises exported USD6.62 billion, down sharply by 20.4%, equivalent to a decrease of USD1.69 billion compared to the second half of March 2019.

The latest statistics from the General Department of Customs said that in the first 15 days of April 2019 (from 01 April to 15 April), the group of enterprises with foreign direct investment (FDI) has achieved import-export value reached USD12.37 billion, down 14%, equivalent to USD 2.02 billion less than the second half of March 2019.

Accumulated from the beginning of the year to the end of 15 April 2019, the group of FDI enterprises has import-export value of USD86.89 billion, up 4.8%, equivalent to an increase of USD3.98 billion over the same period of 2018.

More specifically, on the export side, the export value of FDI enterprises in the first half of April 2019 reached USD 6.62 billion, down sharply by 20.4%, equivalent to USD1.69 billion lower than the last 15 days of March 2019. Thus, as of the end of 15 April 2019, the total export value of FDI enterprises reached USD47.69 billion, an increase of 3.6%, equivalent to an increase of USD1.65 billion over the same period of 2018 and accounted for 69.6% of the total export value of Vietnam.

Regarding import side, the value of imports of FDI enterprises in the first half of April 2019 reached USD5.74 billion, down 5.4%, equivalent to USD0.33 billion lower than the last 15 days of March 2019. Accumulated from the beginning of the year to the end of 15 April 2019, the total import value of FDI enterprises reached USD39.2 billion, up 6.3%, equivalent to an increase of USD2.34 billion, accounting for 57, 7% of total import value of the country.

Although exports of FDI enterprises fell sharply in the first half of April, their trade balance of goods still reached a surplus of USD880 million.

- VDSC

Bamboo Airways still most on-time airline in Việt Nam

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Last month, Bamboo Airways operated a total of 1,319 flights, of which the number of on-time flights was 1,225, or 92.9 per cent. With this figure, Bamboo Airways maintains its top spot in terms of punctuality in Việt Nam which was previously established in the first quarter of the year.

According to the latest statistics by the Civil Aviation Authority of Việt Nam (CAAV), from March 19 to April 18, coming in second place is Vasco, operating 1,198 flights with 1,145 on-time flights, accounting for 90.6 per cent.

Jetstar Pacific had the highest rate of flight delays and cancellations, reaching 20.8 per cent.

Vietnam Airlines and Vietjet Air airlines rank third and fourth with the on-time performance (OTP) of 85.3 per cent and 82.5 per cent, respectively.

In total, five airlines operated 26,553 flights, including 22,321 flights on time, accounting for 84.1 per cent. The rate of delayed and cancelled flights accounted for 15.9 per cent, equivalent to 4,232 flights.

According to the CAAV, the most common reason for OTP drop was the late arrival of aircraft, accounting for 63.4 per cent; followed by internal factors from the airlines themselves, accounting for 23.1 per cent.

Previously, in response to the press, Đặng Tất Thắng, Bamboo Airways Standing Vice President, said that one of the most important factors that helped maintain this airline’s high OTP was “good management and precise planning”. At Bamboo Airways, people, processes, functions, and technologies work together with a high degree of integration at all time, he said.

Source: VNS

Petrol prices up nearly 1,000 VND per litre

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The Ministry of Industry and Trade and Finance Ministry revised up petrol prices on May 2, marking the third time they had made price adjustments after using the price stabilisation fund.

Accordingly, retail price of bio-fuel E5 RON 92 will rise by 985 VND per litre to below 20,688 VND (0.89 USD) while that of diesel will hike by 311 VND per litre to a maximum level of 17,695 VND.

The ceiling prices of kerosene and mazut were capped at 16,625 VND and 16,002 VND per kg, respectively.

Two weeks before May 2, world petrol prices also went up from 2.2 percent to 3.22 percent.

The ministries decided to keep the fund’s expenditure for existing petrol products unchanged.

Source: Dtinews

Vietnam’s stocks slip on selling pressure

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Vietnamese shares slid on Thursday morning as investors began to take some profits from the market’s advance last week.

The benchmark VN-Index on the Ho Chi Minh Stock Exchange edged down 0.20 per cent to close at 977.65 points. VNA reports.

The VN-Index rose nearly 1.4 per cent last week.

Nearly 85 million shares were traded on the southern bourse, worth VND1.7 trillion.

Declining stocks outnumbered gainers by 181 to 98 while 49 stocks were flat.

Technology, agriculture, insurance, banking and rubber industries were hit by profit-taking pressure.

The insurance sector index dipped 5 per cent in the morning, data on vietstock.vn showed. It was also the worst-performing sector index.

The insurance industry was dragged down by Bao Viet Holdings (BVH).

On Thursday morning, 12 million ESOP shares of total 20.4 million shares issued by Bao Viet Holdings in 2018 were officially available for trading.

The company shares tumbled 7 per cent.

Other large-cap stocks that declined included Vietcombank (VCB), Techcombank (TCB), Vinhomes (VHM) and Vietinbank (CTG).

On the Ha Noi Stock Exchange, the HNX-Index lost 0.11 per cent to end at 107.34 points.

The HNX-Index gained nearly 1.5 per cent last week.

Nearly 20 million shares were traded on the northern bourse, worth VND236 billion.

The afternoon trading session starts at 1pm.

Vietnam opposes Indonesia’s use of force on fishers

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Vietnam has issued a diplomatic note opposing Indonesia’s use of force on Vietnamese fishing vessels last Saturday.
The Ministry of Foreign Affairs handed over the document to a representative from the Indonesian Embassy in Vietnam on Wednesday.

The document expresses Vietnam’s concerns over the incident on April 27 when Indonesia arrested a group of Vietnamese fishermen operating within Vietnam’s waters, in an area where Vietnam and Indonesia are delimiting their exclusive economic zones (EEZs), 5.5 nautical miles north of the 2003 continental shelf delimitation line.

A Vietnamese fishing boat with 14 fishermen on board were arrested and towed away at high speed by Indonesian ship number 381, causing the Vietnamese boat to sink.

A Vietnam Fisheries Resources Surveillance’s vessel discovered the incident while performing its duties in the area, rescued two of the fishermen and demanded that the Indonesian ship leave Vietnamese waters.

However, the remaining 12 fishermen were taken into Indonesian waters.

Vietnam’s ministry now insists that what Indonesia had done “seriously violated Vietnam’s sovereignty and jurisdiction, and was contrary to international law, inconsistent with traditional friendship relations and the Vietnam – Indonesia strategic partnership, as well as the solidarity of ASEAN (Association of Southeast Asian Nations).”

The note requested Indonesia to strictly abide by the provisions of the 1982 United Nation’s Convention on the Law of the Sea (UNCLOS), to which both countries are members, and to direct its maritime functional forces to stop and not repeat the inappropriate actions of April 27.

It also demanded that Indonesia immediately release the crew of the sunk vessel, treat them humanely and make adequate compensation for the Vietnamese fishing boat and for the fishermen.

This is the second time Vietnam made its demand.

The foreign ministry had on Sunday sent a note to the Indonesian embassy but has yet to receive a response.

Last year, Indonesia destroyed 86 Vietnamese fishing boats for allegedly illegally catching fish in its waters. Vietnam has several times called on Indonesia not to use violations against Vietnamese fishing boats and fishermen in a manner that goes against the strategic partnership between the two countries.

Source: Vnexpress

Shinhan Bank launches smart consumer loans on Zalo app

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Zalo users able to conveniently apply for consumer loans from Shinhan Bank.

Shinhan Bank Vietnam has officially launched a smart consumer loan on the Zalo app.

Zalo users can now easily apply for consumer loans from Shinhan Bank at an interest rate between 1.33 per cent and 2.4 per cent per month, if they earn a monthly income of US$215 (VND5 million) paid into their bank account.

From now to June 30, the first 1,000 customers will be offered a preferential interest rate of only 1.33 per cent per month without any conditions.

Depending on the users’ income and granted credit line, the loan amount could be up to 12 times their income after tax, to a maximum of US$21,500 (VND500 million), with a loan term of up to 60 months.

According to a report on Vneconomictimes, users can easily apply for these loans from Shinhan Bank on the Zalo app’s Zalo Bank. Zalo Bank offers built-in financial services, including small loans. Users need only select the Zalo Bank function and follow the instructions to obtain a loan.

The system then automatically assesses whether the user is qualified to apply for a loan on the basis of the information they provide. If the user qualifies, he or she will be directly connected to Shinhan Bank staff for specific instructions on the application process.

After receiving all documents from the applicant, the bank will process the application within three working days and the loan will be disbursed to the customer according to requirements and rules.

“As at May 2018, Zalo had 100 million users and we believe this is an effective channel to access customers,” said Mr. Shin Dong Min, CEO of Shinhan Bank in Vietnam. “Our service offered on the Zalo app helps customers more conveniently access Shinhan’s smart consumer loans. Through Zalo Bank, customers in need of loan within a credit line of VND500 million can apply for loans anytime, anywhere. The process is then done automatically, quickly, and accurately by the system.”

Shinhan Bank is the first bank in Vietnam to introduce smart consumer loans on the Zalo app. It previously also offered credit card application and issuance services on Zalo and received positive feedback from the market.

Giang brothers challenge cold weather with balancing act

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Giang Quoc Co and Giang Quoc Nghiep performed their head-balancing act in minus 10 degrees in Canada.

According to Co, the organisers invited them to Canada to perform for three major events in Whistler after seeing their act on Britain’s Got Talent TV programme. Whistler is situated in the Fitzsimmons range of the Coast Mountain range. It is well-known for having one of the best yearly snow conditions and where the 2010 Winter Olympics’ skiing took place.

Head balancing in Canada

Upon arriving in Whistler, the brothers immediately wanted to challenge themselves with the cold there. They took off their shirts and quickly performed their head-balancing act amid the snowy mountain to take some souvenir photos.

Giang brothers invited to Canada to perform for three major events in Whistler

When being asked about the meaning of the impromptu photos on the snow, Nghiep said, “Humans can overcome our limits.”

Source: Dtinews

Tax incentives can speed up cashless payment in Vietnam

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Vietnamese banks are proposing tax incentives for businesses adopting e-payments as a way to boost cashless payments.
Dao Minh Tuan, deputy CEO of Vietcombank, presented this suggestion at the Vietnam Private Sector Economic Forum 2019 Thursday.

He said that most businesses were reluctant to purchase point-of-sales (POS) devices or establish e-payment services with the banks because there were currently no incentives to attract them.

“Incentives, especially in taxes, will attract more businesses to cashless payment, which will increase payment transparency and reduce tax evasion,” he said

Vietnam has been trying to promote cashless payments in recent years. Last year, fintech startups raised $117 million, highest among all startup businesses.

But local residents remain more reliant on cash. Sixty percent of Vietnamese population are eligible to open a bank account, but a majority of them, 80 percent, prefer to use cash in daily transactions, according to the Ministry of Industry and Trade.

Although e-commerce has been growing fast at 25-30 percent a year in recent years, 80 percent of customers still use cash-on-delivery payment for products they order online, the ministry said.

Le Xuan Vu, board member of Military Bank, said that tax incentives and other incentives are needed to increase cashless payment not only for businesses but also people at large.

“Cashless payment remains unpopular in Vietnam because people prefer to see and touch products before paying for them. If local banks can guarantee to compensate customers for fraud and fake products, they will trust cashless payment and use them more regularly,” he said.

A government resolution issued in January recommended that cashless transactions made viable for all urban household bill payments by the end of this year, prioritizing mobile payments and payment via card readers.

The State Bank of Vietnam has been asked to come up with solutions that would promote the use of electronic wallets, wherein users can deposit cash into their e-wallets without the need for a bank account.

Source: Vnexpress

Vietnam’s VinGroup to launch electric bus services in key cities

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Vietnam’s VinGroup has set up VinBus as its subsidiary specialising in transport services.

According to its statement on May 02, 2019, VinBus is scheduled to provide public transport services starting in March 2020 in five key cities of Vietnam, which are Hanoi, Hai Phong, Da Nang, Ho Chi Minh City and Can Tho. The chartered capital of VinBus is about US$ 43 million.

To meet travelling demand and contribute to the building of a public transport network while reducing gas and noise, VinBus will use as many as 3,000 electric buses to be manufactured by VinFast, another subsidiary invested by VinGroup.

VinFast’s factory on electric buses is being under construction. Siemens, a German industrial manufacturing company will be the provider of VinFast’s technology and component.

According to a report on Vietnam News Agency, Vingroup Vice President and General Director Nguyen Viet Quang said that, the conglomerate has set itself a target of developing and popularising environmentally-friendly vehicles which run with electricity, and gradually replacing those run on petrol.

It is also a significant move of the group to offer new services and experiences in high-technology application to passengers.

16 percent of Vietnam’s domestic flights delayed or cancelled in April 2019: CAAV

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Five domestic airlines has reported 4,232 delayed or cancelled flights, accounting for 15.9 percent of the total, from March 19 to April 18.

According to the Civil Aviation Administration of Vietnam (CAAV), Vietnam Airlines, Vietjet Air, Jetstar Pacific, Bamboo Airways and Vietnam Air Services Company (VASCO) together operated a total of 26,553 flights in the period. Vietnam News Agency (VNA) reports.

Jetstar Pacific delayed or cancelled 592 out of its 2,851 operated flights, representing the highest rate among the five airlines, at 20.8 percent.

Vietjet Air took the second place with 1,975 delayed or cancelled flights, accounting for 17.5 percent of its total during the period.

According to VNA, National flag carrier Vietnam Airlines reported 1,491 delayed or cancelled flights, accounting for 14.7 percent of its total, while the figures for VASCO were 113 flights and 9.4 percent.

The freshly-launched Bamboo Airways posted 94 delayed or cancelled flights, accounting for 7.1 percent of its total.

The CAAV said the main reasons for the delays and cancellations were late arrivals, the airlines’ operation problems, and weather conditions.

Other reasons included issues related to flight management and operation, and the equipment and services at airports, the agency said.

The CAAV unveiled that it will add more sanctions on flight licensing to curb the issue, adding that airlines running a high rate of delays and cancellations might have their airport slot revoked. The slot gives an airline the right to operate at an airport at particular times.

The Most Popular Gadget Trends to Have Hit Vietnam in 2019

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Vietnam, once most recognized for its agricultural growth, has evolved so much so that it has been rumoured the government wants to recreate the land to home the largest gadget corporations. According to source the government has already opened its arms to high end tech companies looking to roll out the latest smart phones, devices and gadgets.

The new industry is thought to improve the Vietnamese economy and bring money into the country. As a result, there are already a number of popular gadget trends which have kicked off the year within the tech realm and we just have to know what these goodies and gadgets are.

Mobile Devices for Online Gaming

Online gaming has become the latest gaming craze. Internet users around the world are all interested in at least one game. Some say it began with Candy Crush while others believe it is simply the internet which has allowed us to play any games we want to. Vietnam has a range of the latest mobile phones which power the best games. Online casino games are widely admired and you can try them on the latest tech in Vietnam or play different variants online and discover why mobile devices are such a gadget trend in 2019.

Wearable Gadgets

From smartphone watches to VR headsets, you can expect to find the best wearable gadgets available in the heart of Vietnam. Virtual reality has fast become a gaming trend and as a result the industry produces so much tech gadgets it’s difficult to choose from. Voted as the best VR equipment is Oculus Rift, but the pricing may not suit the budget of every gadget guy and girl although it has been rated as the most affordable. If this is the case you can always find VR hardware for your mobile tech which would be more cost effective.

Fitness Trackers

Everyone is becoming more health conscience, especially as we focus on the improvement of our ecosystem. With that being said, there is no better way of keeping track of your progress than investing in a health tracker. Vietnam is especially famous for smart watches and wearable gadgets but health trackers are just as popular and are affordable in the Asian continent, unlike around the globe where you are looking at spending thousands of dollars.

GoPro

On the topic of fitness and activity, GoPro has been maintaining its popular growth around the globe. If you are looking for something hip and trending, something to record your progress, catch things the human eye cannot, Vietnam has just the gadget for you. It is rumoured 2020 will offer a sensational upgrade of the gadget and we know which country will have it first!

A long as the tech world keeps growing so will the market nestled within Vietnam. The county is growing and so is its market. With tourists frequenting the lush jungles in Vietnam, it won’t be long before word gets around and Vietnam is named one of the tourist hot spots of the world and all courtesy of an industry designed to keep users up to date with technology.

Vietnam Manufacturing Purchasing Managers’ Index hits four-month high in April

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Growth in Vietnam’s manufacturing sector hit a four-month high in April thanks to increased employment and a solid rise in new orders, according to a survey.

The Nikkei Vietnam Manufacturing Purchasing Managers’ Index, or PMI, rose from 51.9 in March to 52.5 in April, moving further above the 50-point line separating expansion from contraction. The Nikkei reports.

According to Nikkei, new orders continued to rise at a similar clip with March, as did exports. The growth led to an increase in employment, the first rise in three months, with the pace slightly faster than average.

“Firms gained confidence that the soft patch at the start of the year is now a thing of the past,” said Andrew Harker, Associate Director at IHS Markit, which complies the survey.

“There was still a reluctance to raise selling prices, however, in spite of a pick-up in the rate of cost inflation, but this will likely change should solid inflows of new work continue in coming months.”

For more information,  visit IHS Markit website.

Vietnam’s stocks may go sideways in post-holiday trading

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Vietnamese shares may gain slightly in the post-holiday period as listed firms are giving a few strong clues that could boost the market’s short-term prospects.

The VN-Index on the Hồ Chí Minh Stock Exchange gained 0.57 per cent last Friday to end the last trading week at 979.64 points.

The VN-Index rose nearly 1.4 per cent in total last week, marking its first rise after having declined for two consecutive weeks.

The recovery of “Vin” stocks such as Vingroup (VIC), Vinhomes (VHM) and Vincom Retail (VRE) was the main driver of the stock market last week.

The three company shares gained between 3.3 per cent and 6.2 per cent in five trading days of last week.

Financial-banking stocks were mixed. Large-cap financial-banking firms such as Vietcombank (VCB), Bank for Investment and Development of Vietnam (BID), Saigon Securities Inc (SSI) and HCM City Securities Corp (HCM) almost made no changes compared to the previous week.

Meanwhile, consumer staple companies’ shares weighed on the stock market. All three large-cap firms – dairy producer Vinamilk (VNM), brewer Sabeco (SAB) and food and beverage group Masan (MSN) – declined after one week.

Trading liquidity was a problem for the stock market as investors were unwilling to jump in the market trading due to a lack of supportive news among listed companies and the coming national holidays.

An average of nearly 154.6 million shares was traded in each session of last week on the southern bourse, worth VNĐ3.35 trillion (US$144 million). The figures were up slightly from the previous week.

A similar trading pattern occurred on the Hà Nội Stock Exchange as the HNX-Index increased by 0.49 per cent to end the week at 107.46 points.

The HNX-Index advanced by total 1.49 per cent last week.

According to a report on VNS, Dương Hoàng Linh, deputy head of market analysis department at Sacombank Securities JSC (SBS) said, the benchmark VN-Index has moved between 965 and 990 points for the last one month with low liquidity.

“As top large-cap companies have released their first-quarter earnings reports, the market has run out of good news that could back the market up and lure short-term capital back into the market,” Linh told tinnhanhchungkhoan.vn.

Investors seemed uninterested in taking part in the market at the moment even though “some stocks have gotten much cheaper in recent weeks,” he said.

“The market may still go horizontally and marginally after returning from the national holidays. There may be some rebounds but those comebacks won’t be upheld,” Linh added.

Declining liquidity would remain the most important factor for the Vietnamese stock market, according to Sài Gòn-Hà Nội Securities (SHS).

“Friday’s gains for the two indices could only mean pullback, or technical recovery, as liquidity kept falling while technical indicators still projected further drops for the local indices,” SHS said in its weekly report.

“What we’ve seen on the derivative market with the VN30 futures expiring in May also supported the forecast as it finished Friday 13.55 points lower than the large-cap VN30-Index’s close of 890.55 points,” the company said.

“That shows investors were still thinking about a bearish market in the short run,” SHS added.

The stock market in the next two trading days and next week could move based on the trading of global stocks and international market news, SHS said.

Buy-in for May

The month of May this year wouldn’t be a time for selling, analysts said, as cheap stocks could be scooped up and consolidated.

According to Nguyễn Hoàng Việt, Vietinbank Securities Co’s market analyst, it’s time for investors to purchase stocks and hold onto them as they had sold too much in April.

“The sharp correction of the stock market will bring up opportunities for investors to own good quality large-cap stocks at very low price levels,” he said.

There would be growth for the stock market in May as shares had been pressurised too much in the last several weeks, Nguyễn Hồng Khanh, head of market analysis at Vietnam International Securities JSC, said.

Many Vietnamese use rhino horn. Here is why

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Vietnam is one of the world’s largest consumers of rhino horn, contributing to the continued poaching of rhinos in the wild.

Last year in Africa 1,100 rhinos were killed by poachers. And today there are only about 29,500 left in the world.

Considerable efforts have been devoted to reducing the demand for rhino horn in Vietnam. In 2015, the Government of Vietnam increased sanctions on the illegal trade and use of rhino horns. And, through a variety of campaigns, conservation organisations have tried to educate Vietnamese consumers about Africa’s rhino poaching crisis and the uselessness of rhino horn in medications.

We conducted a study to shed light on why people use rhino horn. To do this we interviewed consumers who admitted to using rhino horn in Vietnam.

We found that people used rhino horn for a number of purposes, principally as a medicine and as a status symbol. The most prevalent use was for treating hangovers. Other uses included using it to honour terminally ill relatives.

We also found that consumers preferred wild rhino horn over farmed rhino horn. And that they weren’t affected by stigma or concerns about rhino populations.

Our findings suggest that the demand for rhino horn is unlikely to fall because people’s beliefs are firmly entrenched. Our hope is that our findings help reshape the focus of future conservation campaigns by targeting the prevalent reasons for its use and the values associated with it.

HEALTH AND WEALTH

We interviewed 30, self-confessed, recent users of rhino horn and one rhino horn trader. They came from the upper income bracket of Hanoi, the capital of Vietnam.

The people we interviewed said that they used rhino horn to treat various ailments including hangovers, fever, gout and potentially terminal illnesses, like cancer or stroke. Some people also gave it to terminally ill relatives to console them and show that they had done everything in their power to help them.

Our findings confirm that the idea that rhino horn has magical healing properties is deeply rooted in Vietnam.

Aside from being used as medicine, rhino horn is considered a status symbol. Consumers said that they shared it within social and professional networks to demonstrate their wealth and strengthen business relationships. Gifting whole rhino horns was also used as a way to get favours from those in power.

STIGMA

We found that the use of rhino horn doesn’t attract a stigma in Vietnam. The consumers we interviewed said they weren’t concerned about poaching or the plight of rhinos. The killing of rhinos in Africa was seen as a remote issue, something that happened far away, out of their influence because they didn’t kill the rhinos themselves.

They were also not concerned about the legal repercussions of buying it. The penal code of Vietnam prohibits illegal trade and use of rhino horn. However, all interviewed believed that the police would not pay attention to rhino horn use and that law enforcement efforts only focused on illegal trade in large quantities. And they’re not wrong.

And it’s not just the consumers who aren’t worried. A former trader of rhino horn said that potential profits from the trade far outweighed any risks.

INFORM CAMPAIGNS

Our findings shed light on why current campaigns against rhino horn purchases aren’t working. For example, they tend to highlight the plight of rhinos, suggest that rhino horn doesn’t have medicinal properties or emphasise the legal consequences of purchasing it. Some campaigns also compare rhino horn to human nails (because they’re both made of keratin).

From our research it’s clear that people who buy rhino horn won’t be won over by any of these arguments.

In addition, our finding that consumers prefer rhino horn from wild animals has implications for the suggestion made by some observers that a controlled legalised trade could reduce poaching. We conclude that in fact such a trade would simply increase demand for poached rhino horn.

We hope that our insights will lead to campaigns that promote behaviour change. And campaigns that are better informed about the values associated with the use of rhino horn and that target the most prevalent types of uses.

Whether or not the legalisation of trade in rhino horn will be a solution to the poaching crisis is the focus of an ongoing study that we’re doing.

Vu Hoai Nam Dang is a PhD fellow at University of Copenhagen.

Martin Reinhardt Nielsen is an associate professor, University of Copenhagen.

This article first appeared on The Conversation.
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