US, North Korean delegations en-route to Vietnam ahead of Trump-Kim summit

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Twelve North Korean officials — including Kim Jong Un’s de-facto chief of staff — were en-route to Vietnam Friday ahead of a second scheduled summit between Kim and US President Donald Trump, South Korea’s Yonhap news agency said.

According to a report on MSN, the North Koreans had arrived in Beijing and were expected to board a plane bound for the Vietnamese capital Hanoi, with the high-stakes meeting now less than two weeks away.

“A group of 12 North Koreans, including Kim Chang Son, were on the boarding list,” Yonhap said, citing a source in the capital.

Kim Chang Son was part of the team overseeing protocol in the run up to the first Trump-Kim summit and Yonhap said the delegation was expected to have discussions with US officials on the logistical preparations for the Hanoi meeting.

The identities of the 11 other officials were not reported.

Pyongyang has yet to provide any official confirmation of the Feb 27-28 summit, which will be the second time the two leaders come together following their June 12 Singapore meeting.

That produced a vaguely-worded document in which Kim pledged to work towards denuclearisation – with no hard timeline agreed.

In preparation for Hanoi, US envoy for North Korea Stephen Biegun was last week in Pyongyang for three days of talks with officials.

Biegun said they had been productive, but more dialogue was needed.

“We have some hard work to do with the DPRK between now and then,” Biegun said, adding that he was “confident that if both sides stay committed we can make real progress here”.

The US State Department said talks during Biegun’s trip explored Trump and Kim’s “commitments of complete denuclearization, transforming US-DPRK relations and building a lasting peace on the Korean Peninsula”.

Specifically, discussions on declaring an end to the 1950-53 Korean War could have been on the table, with Biegun last month saying Trump was “ready to end this war”.

The three-year conflict ended in an armistice, not a peace treaty, leaving the two Koreas still technically at war, with the US keeping 28,500 troops in the South.

Earlier this week Vietnam’s foreign minister Pham Binh Minh visited Pyongyang but no details on their discussions have been announced.

Experts say tangible progress on Pyongyang’s nuclear weapons will be needed for the second summit if it is to avoid being dismissed as “reality TV”.

The commander of US forces in South Korea said earlier this week that he had seen “little to no verifiable change” in North Korea’s military capabilities.

General Robert Abrams, the new head of US Forces Korea, said although the Singapore summit had helped dial down tensions on the Korean peninsula, it had not led to substantive changes.

North Korea, which holds most of the peninsula’s mineral resources, was once wealthier than the South, but decades of mismanagement and the demise of its former paymaster, the Soviet Union, have left it deeply impoverished.

In 2017 the UN Security Council banned the North’s main exports — coal and other mineral resources, fisheries and textile products — to cut off its access to hard currency in response to Pyongyang’s pursuit of nuclear weapons and ballistic missiles.

Trump has said that North Korea will become a “great Economic Powerhouse” under Kim.

Danang announced a list of 17 property projects, where foreigners can buy a house

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Danang, the biggest city on Central Coast of Vietnam has just released a list of 17 property projects, where foreigners can buy a house.

A among the list, there are 8 projects in Son Tra district, 6 projects in Hai Chau district. Thanh Khe and the rest in Ngu Hanh Son district and Lien Chieu district.

The projects list inclusive of Blooming Tower Da Nang, Golden Square Complex, Quang Nguyen Apartment; P.A Tower Hotel and Apartment complex; Lapaz Tower at 38 Nguyen Chi Thanh Street; Danang Plaza Digital Apartment at No. 6 Nguyen Du street.

There are some other projects, such as: HAGL Lakeview Apartment building in Thanh Khe district; Thuy Tu in Lien Chieu district; Monarchy resort complex; Harmony Tower; The Summit; An Vien; The Green Hoa Binh Da Nang Complex (Hoa Binh Xanh); Garden Tower (Thap Vuon) and Azura Apartments building. Foreigners can also own the real estate project and Da Nang marina and FPT Da Nang in Ngu Hanh Son district.

Foreign organizations and individuals are allowed to own property in any other projects which is not in the list.

“Any foreigner with a valid visa, whether resident or tourist, can now buy property in Vietnam on a 50-year leasehold, with options for extension”, Sophie Dao, the Lawyer of GBS, a legal services firm in Vietnam told Vietnam Insider.

“According to the New Vietnam Housing Law with effective from 1st July 2015, any foreigners who are permitted to enter Vietnam legally are now eligible to buy/invest in Vietnam Property. Foreign Ownership cannot exceed more than 30% of the total units in one apartment building. Ownership title will be on 50+ years leasehold (extendable subject to applicable laws). Foreigners are allowed to lease, mortgage, contribute as capital gift etc” Sophie added. “If subsequently The same Local Vietnamese sells to another Foreigner, it will be converted to a fresh 50+ years leasehold title for the new owner”.

When buying a house in Vietnam as foreigners, you will be charged Value Added Tax 10% of apartment selling price; Sinking fund: 2% of apartment selling price; Registration Tax for Ownership Certificate: 0.5% of apartment value; Personal Income tax (Resale): 2% of transacted value; Person Income tax (Rental income): 5% VAT & 5% Personal Income Tax on revenue; Business License Tax: VND 1million per year if rental income exceeds VND1.5million per month.

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Contact Ms. Sophie Dao, Lawyer of GBS at: sophie@gbs.com.vn | Call, SMS, WhatsApp, Viber or Zalo at: +84903189033 | Website: https://gbs.com.vn

Park Hang-seo exerts influence in Vietnam’s public opinion

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Park Hang-seo’s influence in Vietnam is real and it’s not overblown, a recent Hankook Ilbo-Korea Times survey of 1,000 Vietnamese people confirmed.

The survey was conducted from Jan. 3 to 15 to gauge Vietnamese people’s perception of Korea since Park took the helm in their national football team.

Seven out of 10 Vietnamese people surveyed, answered they came to view Korea positively because of the South Korean coach.

The poll found 73.8 percent regard Korea positively, up 9 percent from last year’s 61 percent. The most dramatic change came among people in their 40s. Last year, only 48 percent answered they view Korea positively, but the rate soared to 70 percent in this year’s survey.

Nguyen Thi Thanh Huyen, a professor at the University of Social Sciences and Humanities of Vietnam National University in Hanoi, said Park’s impact on the Vietnamese public is undeniable. “He did something that no corporate leader or leader in other fields have done. What’s surprising is that he did it alone within a year.”

Vietnam has a stronger presence in international football tournaments after Park joined the national team two years ago. Vietnam became the champion of the 2018 AFF Suzuki Cup and reached the quarterfinals of the 2018 Indonesia-Palembang Asian Games. Vietnam sought to win their first Asian Games medal in football but their dream shattered in the shootout against the United Arab Emirates. Vietnam’s football team has improved a lot since Park took the helm two years ago, which has paved the way for his popularity.

Since last year’s survey, there were several events that could have affected Vietnamese people’s perception of Korea. President Moon Jae-in made a state visit to the Southeast Asian country in March last year. The leaders of the two countries signed six memoranda of understandings to strengthen bilateral ties. Korean companies’ investments in Vietnam have increased and so has Korean tourists to Vietnam.

Professor Huven claimed Park fever was the “real, sole factor” that paved the way for Vietnamese people’s positive perception toward Korea, noting Vietnamese people are not interested in politics.

The Hankook Ilbo-Korea Times survey, however, showed the Park fever had no effect in lowering Vietnamese people’s view of Korea’s troop dispatch to the Vietnam War in the 1960s ― 26.3 percent said they viewed the Korean government’s decision negatively. Overall the rate fell 3.7 percentage points from last year’s survey. But for those who are in the 50s or older, the rate went up.

Amid excitement about Park’s popularity in Vietnam, a former ambassador to Vietnam encouraged Koreans to keep making efforts to improve bilateral relations.

Yoo Tae-hyun noted the popularity of the South Korean football coach in the Southeast Asian country is not a panacea for bilateral relations as the Hankook Ilbo-Korea Times survey indicated. “Many Vietnamese people still harbor hard feelings toward Korea for the dispatch of the troops to the Vietnam War,” he said.

Yoo reminded the Korean public of Vietnamese President Tran Dai Quang’s remarks during a summit with President Moon in 2017. At that time, the envoy said, the Vietnamese leader appreciated the Korean government for its “sincere efforts to right the wrongs” of the past and asked the Korean government to take more, concrete measures to move the bilateral relations forward.

According to a report on Korea Times

Visitors angered as it’s no longer free to admire Da Lat’s ‘Lonely Pine Tree’

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Visitors to Da Lat have been infuriated after they were forced to pay for tickets in order to access one of the most popular newly-emerged must-visit places in the tourist city, which was previously free for everyone.

Located on the Lam Vien Plateau in the Central Highlands province of Lam Dong, Da Lat is famous for its year-round cool and refreshing climate.

Tourists often come to the city to enjoy the pleasant atmosphere, a variety of flower species, delicious dishes and specialties, or just to become one with nature.

Situated approximately 18.5 kilometers northwest of the city’s downtown area, the ‘Cay Thong Co Don’ (Lonely Pine Tree) has emerged as one of the most favorite natural attractions in Da Lat, especially for visitors who look for some adventures and a perfect photo opportunity.

The destination earns its name from a big pine tree that stands in solitude in the middle of an empty grass field just by the bank of ‘Suoi Vang’ (Yellow Stream) Lake, which is part of the magnificent Golden Valley.

This is also a great place for visitors to set up their camps and spend the night.

However, it is not easy to access the area as visitors are required to complete a nearly-one-hour drive before taking a forest trail to the destination.

A ticket booth is set up on a trail leading to the tourist site. Photo: Mai Vinh / Tuoi Tre

The place had always been accessible without any entrance fee until the 2019 Lunar New Year (February 5), when the management of the Bidoup – Nui Ba National Park, in coordination with LAAN Company, started selling tickets to visitors.

All trails leading to the famous pine tree have since been blocked, with a new trail opened along with a ticket booth at the beginning of the path.

Adults have to pay VND40,000 (US$1.72) for a ticket, while children are given a 50-percent discount, which has upset a lot of tourists.

After buying the tickets, visitors are provided with specialized vehicles that take them to the location.

The vehicles used to transport visitors to the site. Photo: Mai Vinh / Tuoi Tre

The transportation is not always necessary as many travel to the valley by motorbike and car.

“This is unacceptable,” said Van Dinh Khoi, a tourist from Ho Chi Minh City. “They can sell tickets, but they have to provide us with some decent services.”

Tran Dinh Trong, another visitor, concurred with Khoi, adding that the park managers should have focused on ensuring the safety and public hygiene of the area when they decided to charge entrance fees.

Tickets sold to visitors to the Lonely Pine Tree. Photo: Mai Vinh / Tuoi Tre

A representative from the Bidoup – Nui Ba National Park management board confirmed that the Lonely Pine Tree is located within the park, adding that a share of 20 percent of ticket revenue will be used for such services as camping, food, and drinks.

Meanwhile, the People’s Committee in Lac Duong District in Lam Dong Province stressed that the ticket sale is against regulations, as the site is situated within the Dankia- Suoi Vang tourist area, which is managed by the district administration.

The Lac Duong People’s Committee has reported the case to the provincial administration for further decisions.

According to a report on Tuoi Tre

Will coffee prices start to go up in 2019?

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The domestic coffee price has dropped to the low level of VND33 million from the peak of VND53 million in 2011.

At present, Dak Lak’s farmers, who have finished the harvesting of the last crop, are wavering between selling coffee beans right now or waiting for prices to rise.

Thoi bao Kinh Te Sai Gon reported that in the last 10 years, the coffee price record occurred in May 2011, when the price soared to $2.611 per ton.

Meanwhile, the closing price of the London robusta exchange on January 22 was $1,516.

If compared with 2017-2018, the coffee price has lost by $766 per ton ($2,282 vs $1,516). From the peak in 2017, the price has been decreasing, once plummeting to a low of $1,468 per ton.

The sharp rise of coffee price in 2010-2011 prompted coffee planting countries to expand their cultivation areas and run re-cultivation programs, replacing old plants with high-yield disease-resistant plants.

Before running the re-cultivation program, the coffee output in Brazil was $40-45 million bags. In 2018-2019, the figure was 63 million bags. Similarly, Columbia has seen the output rising from 7 million bags to 14 million.

That is why the global coffee export volume in the last two years has surged from 118.5 million bags in 2017 to 123.5 million in 2018. This, plus the 2018-2019 bountiful crop in Brazil, has led to a huge supply.

The reports of Brazil and Vietnam, the two biggest coffee producers, showed that the former exported 31.52 million bags (+15 percent) and the latter 31.33 million (+ 20 percent).

Anticipating the coffee output rise, financial hedge funds on futures coffee trading floors have sold coffee beans in large quantities. The residual sale on New York Arabica Market once created a historic record with 2 million tons (October 17, 2018).

Experts said the futures coffee price not only bears the impact of the market supply & demand, but also the cash flow in the financial market, and the situation of the macro economy.

The US-China trade war which broke out in March 2018 pushed the prices of a series of farm produce down.

However, the latest events have shown signs of price increase. US Treasury Secretary Steven Mnuchin said the US may lower tariffs on some imports from China.

Financial investors and importers are not the only factors influencing market prices. The decisions of export countries, including Vietnam, will affect the market.

According to a report on Vietnamnet

Super-cheap cars advertised in Vietnam are made in China

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The public in recent weeks has been stirred up by the news about super cheap cars, costing only VND240 million for a 7-seater model and VND40 million for a 1-seater model. The products are made in China.

The automobile market has been scorching hot because of the short supply of imports from Japan and South Korea. Many customers have complained they could not get deliveries before Tet, or had to pay extra money to get the cars they wanted.

A mini electric IDU model with one seat is priced at VND40 million only, equal to the price of a mid-end motorbike. The product has narrow body, big height and small wheels. The inside part looks sketchy, with a 4-way steering wheel and sliding glass door.

IDU 3 is more expensive with three wheels and better interior amenities, including reverse camera, FM/radio and air conditioner.

The advertisers said the models are now available in Vietnam and posted video clips to show how the cars run. Reduced prices will be applied to early customers.

At the same time, ads about 7-seat petrol-run model BAIC H2 also appeared on the internet with sellers’ affirmation that the product is ‘as safe and modern as South Korean and Japanese cars’. The model is equipped with leatherette seats and Bluetooth connected screens.

The model is advertised as assembled in Vietnam and priced at VND240 million. Some salesmen affirmed that only VND50 million is needed in the first installment to get the car.

VietNamNet’s reporters called an IDU shop on the hotline to ask about the VND40 million model. However, they said the cars were running out and the shop would resume the sale of the model after Tet. He refused to give answers to questions about the legality of the models.

Meanwhile, Nguyen Son, a well known electric car dealer in Hanoi, when seeing the image of the super cheap mini car in a video, said that he had shot the video himself in 2016.

In 2015-2016, netizens spread the news about a 2-seat electric car, priced at VND70 million.

Son said these were the car models he tried to bring to Vietnam several years ago for sale. However, he had to cancel his plan because registration for circulation was not approved for sale.

A representative of the Vietnam Register said the agency has never granted registration certificates to a model like the IDU.

According to a report on Vietnamnet

Red alarm on air quality: will Hanoi become another Beijing?

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If Hanoi doesn’t take action now to improve the air quality, it will face serious air pollution problems in the future that now plague Beijing, experts say.

Hoang Ngoc Quang from the Hanoi University of Natural Resources and the Environment, citing the air quality indexes (AQI) in the week from January 20 to January 26, said that the air quality in the capital city is alarming.

The reports from air monitoring stations in Trung Yen 3, Kim Lien, My Dinh, Tan Mai and Tay Mo showed that the air quality was mostly ‘poor’ and ‘bad’, and sometimes ‘dangerous’. There are five levels of air quality, with ‘dangerous’ being the worst.

On January 25, the PM 2.5 concentration measured in some places in Hanoi was up to 400. PM 2.5 is considered ‘death dust’. When it exceeds the hazardous level, people should to stay inside.

Quang said the emissions from vehicles, smoke from industrial zones, and dust from construction sites are the major reasons behind serious air pollution.

PM2.5 is dust suspended in air, capable of entering into lung, causing respiratory illnesses, cancer and cardiovascular diseases.

“The measures taken by the municipal authorities, including the call for people to protect the environment and the release of red warning over air pollution have not brought the desired effects,” he said.

Quang went on to warn that if Hanoi cannot find reasonable solutions to the problem, the air pollution here would be as serious as Beijing.

Hoang Duong Tung, chair of the Vietnam Clean Air Network, said the air quality got serious on pre-Tet days as a result of the sharp increase in the number of vehicles.

Some scientists attributed this to heat reverse, the phenomenon which occurs only in winter which could cause air quality to worsen suddenly. However, most scientists agree that the high number of vehicles in circulation is a major reason.

Hanoi vows to cut number of private vehicles to ease pollution, affirming that 70 percent of the volume of exhaust gas emitted into the environment comes from transport vehicles.

On Tet days (February 4-9), when a high number of people left Hanoi for home villages to enjoy Tet holiday, the pollution abated. The head of the Hanoi Environment Protection Sub-department, Mai Trong Thai, confirmed that the amount of vehicles in traffic decreased significantly on Tet days, leading to a reduction in the concentration of pollutants in the environment.

According to a report on Vietnamnet

Vietnam – the world’s next great golf destination

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In another setting, an SUV emblazoned with giant flaming golf balls might not cause a stir. But on the honeycombed streets of Hanoi, swarmed by motorbikes and rickshaws, and shadowed by ornate imperial pagodas, it stands out like a pushcart at a NASCAR race.

Perched at the wheel of his Toyota Fortuna, Duc Pham navigates the morning frenzy, rounding a rotary and ripping through an intersection without slowing, red lights in this city being mostly just for show. A traffic cop, his head on a swivel, tracks Pham’s ride as it passes. A cluster of school children, crowded on a corner, flash thumbs up and shout in Vietnamese. “They’re basically saying, ‘Hey, that’s cool, man!’ ” Pham explains, translating their reaction to his car’s airbrushed side panels. “But I’m not sure they know what a golf ball is.”

When he was their age, Pham, now 31, didn’t have a clue. That was in the early ’90s, and golf around Hanoi wasn’t even yet a novelty; it was nonexistent. Pham’s chosen sports were two national favorites: soccer and da cau, a variant of badminton played with one’s feet.

In 1997, though, a game with a broad and deepening grip elsewhere in Asia finally got a foothold in Pham’s part of the world. It happened with the opening of Kings Island, on a lake-wrapped peninsula 30 miles west of the capital, Hanoi. It was the first golf course in northern Vietnam. Pham’s father, a government official, got invited to an outing, and he brought along his then 11-year-old son. “I remember my first practice shot going high and straight, and the guys there telling my father, ‘Your boy is a natural!’ ” Pham says. “I was really proud.”

He was also hooked.

The Lake Course at Sky Lake Resort in Hanoi, opened in 2012, has ample greenery—and teeth – CHRISTOPHER WISE

After high school, Pham, an unreformed golf junkie in a region with few outlets to indulge his fix, embarked for Brisbane, Australia, the better to immerse himself in the game. He returned home eight years later, armed with impeccable Aussie-inflected English and membership in the PGA of Australia, making him the first—and still the only—Vietnamese citizen to earn those stripes. In the years since, having parlayed his credentials into two successful golf academies and retail shops in Hanoi, as well as his own golf instruction show on Vietnamese TV, Pham has emerged as a leading figure in a fast-growing market and as something of an emblem of today’s Vietnam—a communist country where capitalism is alive and well. As is its favorite leisure sport.

Over the past decade, in the distant wake of golf’s arrival in Japan and its more recent wildfire spread in Korea and China, a burgeoning monied class has given rise to a swelling population of Vietnamese golfers and triggered a starburst of course construction. Layouts by the marquee likes of Greg Norman and Jack Nicklaus now stretch from Ho Chi Minh City (formerly Saigon) in the south to Vietnam’s northern border with China, where noted architect Brian Curley has carved a stunner that overlooks the postcard-worthy rock outcrops of Ha Long Bay.

Duc Pham, Vietnam’s only PGA professional, likes his ride—and his roadside cuisine—extra spicy – CHRISTOPHER WISE

Across the country, locales whose names might resonate for other reasons have been transformed into busy redoubts for the game. In the village of Lăng Cô, near the Hai Van Pass, site of some of the fiercest fighting of the Vietnam War, a cool Nick Faldo course—an amenity for two luxury hotels—now spreads between the mountains and the sea, its rice-paddy hazards grazed by water buffalo. In and around Da Nang, once a central base of American military operations, R&R today includes the option of a round at one of four courses, among them designs by Norman, Nicklaus and Colin Montgomerie, whose layout, Montgomerie Links, is dotted at its edge by a weathered machine-gun pillbox. A fifth nearby course, slated to open this summer, also winds around a wartime relic—a concrete bunker. But the most distinctive traits of Robert Trent Jones Jr.’s layout-in-the-making are the artful rumples of a first-rate seaside track.

“Setting foot on it is a bit of a time warp,” Jones Jr. says. “The land has a rich history, which we’ve aimed to preserve. It also happens to be ideal for golf.”

Vietnam has a bounty of such sites, thanks in no small part to a sandy shoreline that extends for more miles than the entire West Coast of the United States. That factor alone gives Vietnam an edge in the race toward the golf future over such space-pinched countries as South Korea and Japan. Balmy year-round temperatures are also an advantage. The political climate is accommodating, too. In contrast to China, where the government’s anti-corruption campaign has put the kibosh on new course construction, Vietnam’s ruling party has proclaimed its goal of pumping up supply. A plan put forth by the prime minister’s office calls for the completion of 89 new courses by 2020, nearly double the number that exist today.

Financial muscle for such projects used to come mostly from overseas, but like so much else in Vietnamese golf, it’s begun to skew domestic. Take the evolution of Kings Island, where Duc Pham first swung a club. The property, which visitors access by driving to a dock an hour west of Hanoi then hopping onto a motorboat across a lake, was originally developed in 1997 by a Thai businessman. Less than two years later, it was snatched up by Nguyen Thi Nga, a feisty sixty-something with close-cropped hair, a taste for floral-patterned dresses and a net worth that reportedly makes her one of the wealthiest women in Vietnam.

As the chairwoman of BRG Group, a conglomerate that deals in banking, real estate and retail chains, among other holdings, Madame Nga is afforded a professional respect that verges on reverence, and her lofty status, in a business culture layered with ritual-like formalities, turns interviews with her into grand affairs, wrapped in the trappings of a United Nations session.

The 15th on architect Brian Curley’s sublime “Course A” track, in Dong Hoi, runs up against the South China Sea—and has the sand to show for it. – CHRISTOPHER WISE

On this hazy afternoon in the capital, she is camped in a lounge chair in a boardroom of a BRG-owned bank, ringed by an entourage. A videographer films. A stenographer scribbles. An attendant pours tea. Madame Nga wears an earpiece to follow the whispers of a translator who sits only a few feet away. The chairwoman smiles as she speaks, and punctuates her words with elaborate hand gestures.

At the outset, she says, she wasn’t drawn to golf for golf itself. Her introduction to the game came at a corporate event nearly 20 years ago. She didn’t play that day, but two things struck her: the emerald beauty of the landscape, and the preponderance of boardroom bigwigs.

“From my perspective, it was quite clear,” she says. “Golf was a good business opportunity.”

Still, you know the story: a few flushed shots, and a devotee was born. Madame Nga’s fondness for the game has since grown so intense that it’s become the source of a family joke, her children having given her handwritten signs to hang by her bed that read, “Golf is my love. Golf is my life.”

She plays as often as her stacked schedule allows, usually on weekends, frequently on courses that she owns. There is no shortage of them. Soon after purchasing Kings Island, Madame Nga added a second course on the grounds. Just this past year, she cut the ribbon on a third, the Kings Course, a rolling layout that takes ample advantage of its lakeside terrain, building toward a rousing finish and a par-3 19th hole with an island green—a memorable stage for settling bets.

Legend Hill, the first of the Nicklaus-designed courses in Vietnam, features two greens on every hole and is owned by the colorful, commanding BRG chairwoman, Nguyen Thi Nga. CHRISTOPHER WISE

Designed by Jack Nicklaus II, the Kings Course is part of a larger deal between BRG and the Nicklaus group that has already yielded three courses around the country and calls for the completion of another five by 2020. At Madame Nga’s insistence, each development boasts a signature feature. At the Kings Course, that role is filled by the island-green 19th. At Legend Hill, another of her Golden Bear–designed Hanoi-area courses, each of the 18 holes has two distinct green complexes, on which play alternates from one day to the next. Such projects result from interplay between architect and owner that can be enlightening for both sides.

“As an architect, I’m always focused first on good golf course strategy,” says Nicklaus II. “But what I’ve learned is that as important as strategy is, Madame [Nga] puts more emphasis on beauty and difficulty. And the truth is that those things aren’t mutually exclusive. I can accomplish good strategy but also make a golf course that’s beautiful and tough.”

* * * * *

During golf’s embryonic stages in Vietnam, course aesthetics tended toward the lush and garden-like, much as they have throughout Asia, replete with waterfalls and forced carries. That’s still the dominant taste. But a minimalist movement has taken root. One of several places where its seeds have sprouted is the city of Dong Hoi, an hour flight from Hanoi, along the country’s northeast coast. Aside from its beaches—and a boardwalk brimming with street-food vendors and scented with the funky whiff of fish sauce—Dong Hoi merits guidebook mention for the Phong Nha caves, a labyrinth of subterranean passages that makes up the largest underground cavern system in the world.

But that’s not what first caught Brian Curley’s eye. A Monterey native with a laid-back, bemused California manner, Curley, 59, has seen golf through its infancy across large swaths of Asia. His credits on the continent include the Mission Hills projects, a pair of mega-golf developments in China. Curley turned his sights to Vietnam five years ago, as the Chinese government crackdown on course construction squelched the market there. What he saw in Dong Hoi was miles of unspoiled alabaster dunes, the stuff of architectural dreams.

A lot golfers here are gluttons for punishment and seem to think it’s not golf if you don’t lose a few sleeves along the way.

Curley has since inked a contract with FLC, a Vietnamese real-estate concern, to build ten courses in Dong Hoi. That long-term task brings him to the area roughly once a month. On this sky-blue morning, he is standing on the brow of a deftly contoured green that backs up to the edge of a wind-swept beach. Blue water spreads behind him. White dunes rise on either side. Think Streamsong by the South China Sea.

This is the 15th hole of Curley’s first completed Dong Hoi course. Another is seeded and set to open this summer. Both are so new that they’re known generically as Course A and Course B, although Curley has proposed the names Forest Dunes and Ocean Dunes—inspired by their traits.

If their look and feel is relatively new for Vietnam, so is the style of play they welcome.

“I like courses that are find-your-ball hard,” Curley says. From his beachside vantage point, his view takes in the broad sweep of Course A, which has ample fairways but not a single formal bunker, only firm, eye-catching sandy wastes. “But a lot golfers here are gluttons for punishment and seem to think it’s not golf if you don’t lose a few sleeves along the way.” He recalls an outing at another of his courses, in Quy Nhon, farther south along the coast, that drew some 300 golfers, all playing from the white tees. Over the course of three days, only four players broke 80. And yet, Curley says, “they all came away telling me that the course wasn’t challenging enough.”

On Laguna Lăng Cô, Sir Nick’s second design in Vietnam, it is absolutely best to avoid the rough. CHRISTOPHER WISE

As much as anything, Vietnam’s scant percentage of skilled players underscores how swiftly its golf population has grown—to an estimated 30,000, a tenfold increase from 20 years ago. Not bad when you consider that prior to the boom, the country’s biggest claim to golf fame was not even a golfer but a Vietnamese soldier, Nyugen “Tiger” Phong, the wartime buddy of Earl Woods who became the namesake of Woods’ firstborn son.

Two generations later, Tiger Phong is long dead and Tiger Woods has yet to play a round in Vietnam. The face of golf in the country is more prominently represented by Duc Pham, whose instructional show, On Green, airs on national TV with two to three new episodes per month.

Filming often takes Pham on the road. But today is a day off, and he’s traveling for leisure, piloting his SUV through the heart of Hanoi toward the outskirts of the city, a set of clubs stuffed in his trunk. The route takes him onto quieter roads, where the broad-shouldered buildings of the capital fade in favor of rice paddies and the motorbikes give way to ox-drawn plows. A turnoff leads Pham through a sleepy village, the scenery passing as a slo-mo montage of noodle shops, farm stands and auto-parts retailers. And then, at the corner of a narrow crossing, looking like a misplaced extra in a grainy movie, an elderly woman, camped under a corrugated metal lean-to, is hawking used golf balls in vacuum-packs: the otherwise unmarked entrance to Sky Lake Resort & Golf Club.

Opened in 2012, the property has two courses, Sky and Lake, neither built by a name designer but both ripe with the straight-driving requirements that Pham enjoys. The scenery isn’t shabby either, with lakes and verdant valleys, and craggy mountains in the distance shaped like broken teeth.

Moments later, Pham stands at the first tee of the Lake Course, shadowed by a caddie, loopers being ubiquitous at Vietnamese courses and also central to their charm. Predominantly young women who might otherwise be laboring in factories or fields, they go about their work with refreshing exuberance, openly celebrating good shots and lamenting poor ones—a marked contrast to the seen-it-all comportment of caddies elsewhere in the world.

In Pham, a scratch player, they have a lot to cheer.

The par 4 before him is a stout dogleg right that requires a hefty carry over wetlands. Pham settles on his line, then steps back to take in his surrounds. During the Vietnam War, fighting on the ground didn’t make it this far north, but bombings did. Though too young to remember those years of conflict, Pham has heard stories of the devastation.

“It can be surreal, looking around, knowing the history and everything that happened,” he says. “And then to realize, I’m playing golf, right here.”

He waggles, swings.

“Oooh!” his caddie cries, and giggles.

Beneath his Titleist cap, Pham grins, the happy profile of a man who, not unlike his country, has taken a game from elsewhere and made it his own.

According to a report on Golf.com

 

It’s now a good time to buy a property in Vietnam, here is why

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Any foreigner with a valid visa, whether resident or tourist, can now buy property in Vietnam on a 50-year leasehold, with options for extension.

The country wants to catch up with its richer Asian rivals but for now it still offers good value for international homebuyers. Financial Times reports.

Vietnam’s last emperor, Bao Dai, discovered golf while visiting France at the beginning of the 20th century. When he returned he built the country’s first golf course in the cool climes of Dalat, in Vietnam’s southern Central Highlands. With his demise, however, the sport, considered elitist, fell out of favor under communism.

Today, golf is back. There are about 40 golf courses in Vietnam with another 65 planned or under construction. Growing domestic interest in the sport, rising numbers of international tourists and an increase in foreign homebuyers are all helping to spur the growth.

Since 2015, new laws opened up the Vietnamese property market to expats. Any foreigner with a valid visa, whether resident or tourist, can now buy property on a 50-year leasehold, with options for extension. There are restrictions: foreigners can only purchase 30 per cent of any single condominium building or a maximum of 250 houses in any one administrative ward (overseas Vietnamese, or Viet Kieu, are exempted from these limits).

Still, some investors are spying an opportunity. In 2008, when high-end property prices were at their peak, house prices recorded 110 per cent year-on-year growth. But with the global financial crisis, the bubble burst.

The ensuing years were “toxic”, says Marc Townsend, managing director of CBRE Vietnam. “All the developers sat there with their cranes not turning and the contractors walking off and the banks scratching their heads.” As such, half-finished ghostly resorts, left to rot by bankrupted developers, still dot Vietnam’s coast.

Recovery came in late 2014, helped by a growing middle class, rising wages, and rapid urbanization (by 2025, half of Vietnam’s population will live in cities). Cranes are once again rising across Ho Chi Minh City’s skyline, while construction workers camp in makeshift homes under highways and chimneys belch out factory smoke overhead.

Danang, Vietnam @ Zing.vn

No building is more symbolic of Vietnam’s hopes for the future than Landmark 81 in Ho Chi Minh City. The mixed-use high-rise will top 1,500ft when it is completed in 2018, making it the tallest building in Vietnam. One-bedroom apartments in the tower are priced from $200,000 through CBRE.

Demand is stronger than at any time since 2007, according to Fraser Wilson, head of Dragon Capital’s property team.

Landmark 81 – The tallest building in Vietnam has been completed, where one-bedroom apartments are priced from $200,000

For years, Vietnam, scarred by the legacy of war, stifled by a one-party communist regime and suffering a depressed economy, has lagged behind the four Asian tigers: Hong Kong, Singapore, South Korea and Taiwan.

Today, the country’s economy is still small compared with many in the region. Its nominal GDP is 30 per cent smaller than that of Singapore and less than a quarter the size of Indonesia, the largest economy in the Association of Southeast Asian Nations, according to the IMF. Nevertheless, in the fourth quarter of 2015, GDP in Vietnam rose 7 per cent year on year, higher than most of the major economies in the region.

 

Saigon, Vietnam

Added to that, a record 41,907 units were launched in Ho Chi Minh City last year, according to CBRE. Sales there also reached a new high, with 36,160 units exchanged, double the previous year.

This year, the property consulting company VinaCapital is launching Nine South Estates, a 381-unit project on a riverfront site in south Ho Chi Minh City, valued at $130m. Four-bedroom riverfront homes start from $800,000.

Vietnam still looks like a bargain compared with the rest of Asia. Even in central Ho Chi Minh City, prime properties are priced at $3,000 to $5,000 per sq metre, well below Bangkok where equivalent properties cost up to $9,375 per sq metre. Rental yields in the country are 1.5 to 2.5 per cent higher than those in Hong Kong, Bangkok and Singapore, according to VinaCapital.

As such, Vietnam is shifting from a “ frontier market [to] a place to invest in,” says Townsend. Coveted regions include the leafy expat enclave District 2 in Ho Chi Minh City. There, gourmet supermarkets and international schools sit next to riverfront restaurants such as The Deck Saigon, which serves foie gras dumplings and lychee cocktails.

Ha Long Bay, a Unesco world heritage site with a dramatic seascape of limestone pillars, is up and coming for second homes. Other coastal regions on the rise include Nha Trang in the south, Da Nang, which is Vietnam’s third largest city, and Phu Quoc island. Although rapidly developing, the latter is still significantly cheaper than Phuket or Bali.

Ha Long Bay, Vietnam,  a popular place to buy a second home

Yet foreign uptake in these areas has been moderate at best. Local agents put this down to the fact that much of the legislation is still new. One issue is “getting money in and out of Vietnam once the home has eventually sold”, says Matthew Koziora, who leads the sales and marketing department at VinaCapital. Another is whether the home comes with a residential visa. “The new law does allow the foreign investor to generate rental income, but, once it is audited and local tax is paid, can that dividend be sent offshore? That has yet to be tested,” he says.

Vietnam has the potential to become a global tourism destination, says Jose Luis Calle, managing director of Lifestyle Retreats, who is developing a resort of 60 suites and villas in Mui Ne, on the country’s south-east coast. The numbers back him up. In 2015, 7.94m holidaymakers visited Vietnam, which together with 2014 were the highest numbers ever recorded. Direct international flights from across Asia to Da Nang more than doubled from 1,045 in 2012 to 2,521 last year.

The international buyers that have bought in Vietnam tend to gravitate towards well-established branded projects. At the InterContinental Sun Peninsula Resort in Da Nang, a beachfront four-bedroom villa with two pools is on sale for £3.28m, through Luxury Property Da Nang. In southern Vietnam, CBRE is selling a three-bedroom villa with a pool at the Sanctuary Residences in Ho Tram for $385,000 with a 5 per cent two-year rental guarantee.

While this may sound promising, there is still caution as to whether the combination of new projects and amount of unsold inventory might lead to oversupply.

Sanctuary Residences in Ho Tram, a Three-bedroom villa here is about $385,000

For now, business is doing very well though, not least in golf. VinaCapital says it has sold about 90 per cent of units at The Point, a community of homes arranged around an 18-hole golf course in Da Nang, with the latest crop of homes going to buyers from Singapore, Hong Kong and the US in particular. The last emperor would be pleased.

Buying guide

  • From July last year any foreigner with a valid visa can buy a property in Vietnam
  • Expect to pay 10 per cent VAT when buying a property from a developer
  • The monsoon season in south Vietnam runs from about May to October

What you can buy for …

  • $500,000 A three-bedroom condo in Ho Chi Minh City’s central business district
  • $1m A penthouse apartment in central Ho Chi Minh City
  • $2m A seven-bedroom beachfront villa in Da Nang, Vietnam’s third largest city

Support need?

Contact: GBS (Vietnam)

Email: sophie@gbs.com.vn | SMS, Viber, WhatsApp, iMessage or Call: +84903189033

Website: https://gbs.com.vn

Financial Institutions Emerging Markets 2019 Outlook: Stable overall but rising rates

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Moody’s Investors Services just release a research report on the credit risks and trends in 2019 for financial institutions in emerging markets 2019 outlook.

According to its summary, slower global growth, rising interest rates, trade protectionism and geopolitical tensions will pose risks for financial institutions in emerging markets throughout Asia, Latin America, Europe, the Middle East and Africa in 2019. Even so, our outlook for banks, insurance companies and asset managers in these regions is broadly stable and reflects a range of buffers that will help these institutions navigate through a more challenging operating environment. Positive credit attributes include resilient balance sheets, steady domestic economic growth and supportive public policies.

In all emerging markets, risks will be higher for issuers that rely heavily on foreign-currency financing. This report is an updated version of our outlooks for financial
institutions that were originally included in a broader 2019 global outlook on emerging markets published in November.

Regarding to Financial institutions in Asia-Pacific regions, Moody’s confirmed that, stable outlook for banks and insurance despite more difficult operating environment.

Problem and restructured loan ratios remain high in Bangladesh, India, Mongolia, Indonesia and Vietnam and higher domestic interest rates and weaker regional trade might lead some overleveraged corporate borrowers to default on their debt. Despite these growing challenges, emerging market banks in Asia have good solvency and liquidity buffers, which should balance the stress on their credit quality. Bank profitability is the first line of defense and totaled 1% (return on assets) in 2017. Loan loss reserves typically cover around 100% of problem assets. Lastly, the capital buffers are good at around 11% in terms of tangible common equityto-risk weighted assets. Funding and liquidity are also good at Asian banks because they rely mostly on domestic deposits, with a low share of market funding.

In Vietnam, banks have significantly cleaned up their books from legacy problem assets and are set to post higher profit in 2019.

Emerging market banks in Asia will continue to invest in digitalisation and IT transformation to enhance customer experience, reduce client acquisition costs and protect their market positions from new financial technology (fintech) entrants, particularly in retail financial services.

Read full report here

7 million Americans are 90 days, even more behind on their auto loan payments

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A record 7 million Americans are 3 months behind on their car payments, a red flag for the economy.

The Federal Reserve Bank of New York reported Tuesday, even more than during the wake of the financial crisis,  the Washington Post  reports.

Economists warn that this is a red flag. Despite the strong economy and low unemployment rate, many Americans are struggling to pay their bills.

“The substantial and growing number of distressed borrowers suggests that not all Americans have benefited from the strong labor market,” economists at the New York Fed wrote in a blog post.

A car loan is typically the first payment people make because a vehicle is critical to getting to work, and someone can live in a car if all else fails. When car loan delinquencies rise, it is usually a sign of significant duress among low-income and working-class Americans.

[‘Repo men’ are doing better than ever]

“Your car loan is your No. 1 priority in terms of payment,” said Michael Taiano, a senior director at Fitch Ratings. “If you don’t have a car, you can’t get back and forth to work in a lot of areas of the country. A car is usually a higher-priority payment than a home mortgage or rent.”

People who are three months or more behind on their car payments often lose their vehicle, making it even more difficult to get to work, the doctor’s office or other critical places.

The New York Fed said that there were over a million more “troubled borrowers” at the end of 2018 than there were in 2010, when unemployment hit 10 percent and the auto loan delinquency rate peaked. Today, unemployment is 4 percent and job openings are at an all-time high, yet a significant number of people cannot pay their car loan.

Most of the people who are behind on their bills have low credit scores and are under age 30, suggesting young people are having a difficult time paying for their cars and their student loans at the same time.

Auto loans surged in the past several years as car sales skyrocketed, hitting a record high in 2016 of 17.5 million vehicles sold in the United States. Overall, many borrowers have strong credit scores and repay their loans on time, but defaults have been high among “subprime” borrowers with credit scores under 620 on an 800-point scale.

The share of auto loan borrowers who were three months behind on their payments peaked at 5.3 percent in late 2010. The share is slightly lower now — 4.5 percent — because the total number of borrowers has risen so much in the past several years. Still, economists are concerned because the number of people impacted is far greater now and the rate has been climbing steadily since 2016 even as more people found employment.

Experts warn Americans to be careful where they get their auto loan. Traditional banks and credit unions have much smaller default rates than “auto finance” companies such as the “buy here, pay here” places on some car lots.

A record 7 million Americans are 3 months behind on their car payments

Fewer than 1 percent of auto loans issued by credit unions are 90 days or more late, compared with 6.5 percent of loans issued by auto finance companies.

“The No. 1 piece of advice I have is to not get your financing from a car dealership,” said Christopher Peterson, a law professor at the University of Utah and former special adviser to the Consumer Financial Protection Bureau. “Shop separately for the vehicle and the financing. Go to a credit union or community bank to get a low-cost loan.”

Rates can vary substantially depending on a borrower’s credit score and where they obtain a loan. A “prime” borrower with a credit score in the range of 661 to 780 can get an auto loan rate of about 4.5 to 6 percent, according to NerdWallet. In contrast, a subprime borrower is typically looking at rates between 14.5 and 20 percent.

After the financial crisis, the government placed heavy restrictions on mortgages to make it harder to take out a home loan unless someone could clearly afford to make the monthly payments. But experts warn that there are far fewer restrictions on auto loans, meaning a consumer has to be savvier about what they are doing when they take out a loan.

“Predatory lending practices and a lack of real transportation options leave many households trapped in debt with few ways out,” said Faye Park, president of the U.S. Public Interest Research Group, which advocates for consumer protections.

Repossessing a car is also a quick process thanks to technology and the laws in many states. Some cars are installed with devices that prevent the car from turning on if someone misses a payment and it has become easier to geo-locate a car to tow it away.

[Millions of Americans could be stunned as their tax refunds shrink]

“It’s a lot easier to repossess a vehicle than to foreclose on a home,” Taiano said.

He noted that non-prime and subprime auto loans increased from 28 percent of the market in 2009 to 39 percent in 2015, a reminder of how aggressively lenders went after borrowers who were on the margin of being able to pay. More lenders are giving people six or seven years to repay now vs. four of five years in the past, according to Experian, another tactic to try to make loans look affordable that might not otherwise be.

While defaults on auto loans are a red flag, they are unlikely to take down the entire financial system as mortgages did in the lead-up to the 2008-2009 financial crisis. The total auto loan market is just over $1 trillion, far smaller than the $9 trillion home mortgage market.

The amount of money people borrow to buy a car is also much smaller — typically under $35,000 — vs. a home loan, where people often borrow several hundred thousand dollars.

(NY Fed/NY Fed)

In Vietnam, bank auto lending within these markets is estimated to be worth around $93 billion in total in 2018. Bank auto lending to individual consumers was expected to expand at a compound annual growth rate of around 7 per cent in five Southeast Asian emerging markets, including Indonesia, Malaysia, the Philippines, Thailand and Vietnam. According to a research by The Asian Banker, auto lending in Vietnam recorded faster growth than other Southeast Asian emerging markets in last few years.

Gold selling price’s rise varies from store to store on God of Wealth day

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Gold selling prices witnessed an increase at some stores while in others unchanged on God of Wealth Day, the 10th day of the Lunar New Year, which fell on February 14 this year.

Legend has it that the God of Wealth returns to heaven on this day, so Vietnamese people have a tradition of buying gold for luck and prosperity throughout the year.

At 8:15 this morning, DOJI Gold & Gems Group JSC listed the gold buying and selling prices at VNĐ36.8 and 37.5 million (US$1,584 and 1,614) respectively per tael of SJC gold bar, down VNĐ40,000 for buying and up VNĐ100,000 for selling against the previous day. The gap between the buying and selling rate hit VNĐ700,000.

Sài Gòn Jewellery Joint Stock Company (SJC) quoted the buying and selling prices of its gold in Hà Nội at VNĐ36.75 million and VNĐ37.07 million per tael, respectively, an increase of VNĐ30,000 in selling price and a decrease of VNĐ30,000 per tael in buying price compared to price in Wednesday afternoon’s session.

At Phú Nhuận Jewelry Joint Stock Company (PNJ), the SJC gold price remained unchanged this morning compared to Wednesday’s closing price. The buying and selling prices were listed at VNĐ36.85 and 37.05 million.

Phú Quý Gold Investment Company quoted SJC gold bars at VNĐ36.7-37 million per tael, down VNĐ130,000 for buying and VNĐ30,000 for selling.

This year, many customers chose to purchase gold online instead of queuing up at gold shops.

PNJ also sold gold online with the price fixed at the time of order and delivery done on God of Wealth Day.

Source: VNS

In Vietnam, men seek way to lovers’ heart through stomach on Valentine’s Day

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As it is said that the way to a woman’s heart is through her stomach, some Vietnamese guys want to make sure their Valentine’s Day gifts will win both the heart and stomach of their girls on the day of love.

Valentine’s Day is when couples express their love for each other with a gift. But there is an unspoken law in Vietnam, where men often give the women they love gifts such as roses and chocolates on this special occasion.

But who said only chocolates or roses should be given during Valentine’s Day?

For certain Vietnamese men, Valentine’s Day is also an occasion to express their sense of humor, rather than solely love, so they would give their girlfriends delicacies Vietnamese people usually enjoy during their celebrations of the Lunar New Year (Tet) festival as ‘gifts of love.’

The idea apparently stemmed from the fact that the day of love falls less than a week after the Tet break ended in the Southeast Asian country on Sunday.

A photo of a heart-shaped banh chung as a gift for Valentine’s Day is widely shared on social networks.

One of the proponents of this new trend is Nguyen Thanh Binh, 25, who planned a Valentine’s Day surprise without roses or chocolates for his girl, whom he has been dating for five months.

“I planned to gift my lover a heart-shaped banh chung,” Binh told Tuoi Tre (Youth) newspaper on Wednesday, referring to square glutinous rice cakes, a Tet specialty favored by northern Vietnamese.

“I bought a banh chung and cut it into a heart-like shape,” he added.

A photo of a heart-shaped banh tet (Vietnamese traditional cylinder glutinous rice cakes for Tet) as a gift for Valentine’s Day is widely shared on social networks.

Pictures of different heart-shaped banh chung were shared on Facebook on Wednesday, indicating that Binh was not alone in giving such a Valentine’s Day gift.

Some, like a Facebook user named Chinh Nguyen, even pushed the humor a bit further by suggesting that a ‘gift combo’ for the day should be “banh chung, sausages and chrysanthemum.”

And as Tet delicacies also include boiled chicken and jellied pork, these foods just add to the list of jocular presents for Valentine’s Day.

“Besides chocolates, I will also give my lover jellied pork as my family has a pot of this food that hasn’t been touched since Tet,” reads a playful comment by Facebook user Nguyen Quang Minh.

From the recipient’s perspective, some Vietnamese girls think that it would be fun to get these edible gifts.

“It’s better to be presented with banh chung than to spend the day without receiving anything from anyone,” Vu Loan jokingly commented under a Facebook post.

However, not everyone finds the idea amusing as those Facebook photos of the banh chung and other bizarre Valentine’s Day gifts did receive negative reactions.

“How can a man gift his girlfriend a banh chung, a Tet ‘leftover’?” female Facebook user Mai England commented.

Other Internet users advised that boys had better consider the personalities of their girls before giving these ‘weird’ presents.

“It will be okay with someone who also love to joke, while those who are fastidious and strict are likely to think that the givers are mean and not serious, which may easily lead to break-up,” a twenty-something man named Nguyen Tien Anh said.

Anh added that he also prepared a pair of banh chung to gift his girlfriend.

“I do that just to make her laugh because she has the same sense of humor as mine,” Anh said, adding that he still prepared chocolates and roses to surprise his girlfriend later.

A bouquet-shaped cake is on sale at a bakery in Binh Thanh District, Ho Chi Minh City. Photo: Bong Mai / Tuoi Tre

Those who love to give edible Valentine’s Day gifts can also buy them, as the market this year is full of presents of this type for the day of love.

For instance, bouquet-shaped cakes priced between VND660,000 (US$28) and VND750,000 ($32) are among the best-sellers, with bakeries having had to stop taking orders from Wednesday afternoon, one day before Valentine’s Day.

“Customers who come [on the right day] may not be able to buy Valentine’s Day cakes because we will stop making new products [on Wednesday night],” said a bakery representative in District 10, Ho Chi Minh City.

Some other bakeries, which did not produce Valentine’s Day cakes as their employees had yet to return to work after Tet, had to add patterns and designs of hearts and roses on ordinary cakes as a temporary solution to maintain sales during the occasion.

In addition to cakes, traditional Valentine’s Day gifts such as flowers and chocolate-covered fruits also attract many customers.

Source: Tuoitrenews

Điện Biên murderer to be prosecuted

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Điện Biên Province Police have decided to prosecute Vương Văn Hùng, who was accused of robbing and killing university student Cao Mỹ Duyên on February 4, Major General Sùng A Hồng announced on Wednesday.

Homeless man Hùng, 35, from Tân Thuỷ bloc, Tuần Giáo District in the northern mountainous province of Điện Biên, has four past legal violations and three crimes on his record.

Hùng was allegedly involved in the death of 22-year-old Duyên, who had been living in Thanh Hưng Commune, Điện Biên District.

According to the investigation force, there might be others involving in the case but they have not yet been identified. Therefore, there will be additional prosecution and changes to the charges if there are new findings.

The police have summoned Trần Văn Công in the district’s Thanh Nưa Commune, the owner of a truck in which Duyên’s blood was found.

At 6:30pm on February 4 (the last day of the last Lunar Year), Duyên was reported missing on her way to deliver chickens to a strange customer in Điện Biên Phủ City’s Thanh Trường Ward.

At 10:30am on February 7, her body was found at an abandoned house in Thanh Nưa Commune, Điện Biên District.

Crime scene examinations and the autopsy showed that she was strangled.

Hùng was arrested on February 10. Initially, Hùng admitted he had killed the victim to steal her belongings.

The police seized a motorbike, ATM card, eight chickens and a cage hidden at different places.

On February 11, Duyên’s mobile phone and a SIM card that Hùng had used to call her were found at the house of Hùng’s uncle, Vương Văn Nghĩa, in which he stayed from February 2 until being arrested.

The provincial police are continuing to investigate the case to administer proper punishments.

According to Major General Hồng, information spread on social media may not be entirely accurate and could negatively affect the victim’s family.

Source: VNS

Passenger bus crashes into Nha Trang houses, injuring 38

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A passenger bus crashed into some houses in Nha Trang City in the central coastal province of Khanh Hoa on Thursday morning, injuring up to 38 passengers.

According to initial information, the incident occurred at around 6:15 am on February 14 when the bus which was running to HCM City suddenly crashed into several houses in Cat Loi Village, Vinh Luong Commune. Luckily no one was in the houses at that time.

However, the collision left 38 passengers injured.

All the injured passengers have been rushed to Khanh Hoa Province’s General Hospital for treatment. Among those, three had serious injuries.

Nguyen Thi Yen from Thanh Hoa Province who has got a leg injury said that when she was sleeping, she heard a big sound and the brake. The bus leaned and ran into the houses.

Yen added that before the accident, the vehicle was stopped many times for repair, and the driver still tried to operate it.

The driver Dao Ngoc Thang, 51, from Thai Binh Province has been requested for a drug test.

Source: Dtinews

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