Work permit guidance for expats in Vietnam

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Vietnam’s official guidance on compulsory social insurance for foreigners started on 1 December 2018.

The long-awaited decree No. 143 (2018) providing detailed guidance on compulsory social insurance applicable to foreign employees working in Vietnam was finally issued on 15 October 2018, and took effect on 1 December 2018. Contribution and entitlement of each benefit regime will come into effect on different dates as summarized below.

Related topic: Work Permit Services in Vietnam

Scope of application

Foreign employees who satisfy both following conditions will be subject to compulsory social insurance:

  • Working in Vietnam under indefinite term labour contracts, or definite term labour contracts with a term of at least one full year with employers based in Vietnam; and
  • Having been granted either (i) a work permit, (ii) practising certificate, or (iii) practising licence.
  • Notwithstanding the above, the following foreign employees are not subject to compulsory social insurance:
  • Intra-corporate transferees in accordance with article 3.1 of decree No. 11 (2016) detailing regulations of the Labour Code for foreign employees working in Vietnam; and
  • Employees who have reached the statutory retirement age, as prescribed under article 187.1 of the Labour Code, which is 60 for males and 55 for females.

Applicable benefit regimes

Decree No. 143 stipulates that foreign employees will be covered for all five compulsory social insurance regimes that are applicable to Vietnamese employees. These include benefit regimes for: (i) illness, (ii) maternity, (iii) labour accidents and occupational diseases, (iv) retirement, and (v) survivorship. However, the application of the five regimes to foreign employees will be introduced in stages as follows:

  • The short-term benefit regimes for (i) illness, (ii) maternity, and (iii) labour accidents and occupational diseases will apply from 1 December 2018; and
  • The long-term benefit regimes for (iv) retirement and (v) survivorship will apply from 1 January 2022.

Contribution rates

The contribution rates imposed on both employers and foreign employees will be the same as those applicable to Vietnamese employees, that is, 8% from employees and 17.5% from employers, based on the salary used to contribute compulsory social insurance, which is capped at 20 times the applicable general minimum salary as provided by the government.

The contribution is implemented as below.

From 1 December 2018 to 31 December 2021: employer 3.5%, including 3% for the fund of illness and maternity; 0.5% for the fund of labour accidents and occupational diseases; employee not applicable.

From 1 January 2022:
employer 17.5%, including 3% for the fund of illness and maternity; 0.5% for the fund of labour accidents and occupational diseases; 14% for the fund of retirement and survivorship; and employee 8% for the fund of retirement and survivorship.

Work permit amendments

Amendments to the Regulations Related to Work Permit/Certificate of Work Permit Exemption for Foreigners Working In Vietnam.

On 8 October 2018, the government issued decree No. 140 (2018) amending decrees related to investment and business conditions, and administrative procedures within the scope of management of the Ministry of Labour, Invalids and Social Affairs, which took effect on the same date.

Among the amendments, decree No. 140 revised some of the provisions applicable to work permits and certificates of work permit exemption for foreigners working in Vietnam. Notable changes are as follows.

Regarding the foreign labour usage plan:

  • The written request for approval of foreign labour usage plan must be submitted to the provincial-level people’s committee, instead of the president of the provincial-level people’s committee as previously prescribed by decree No. 11 (2016);
  • If the foreign employee is (i) chief representative of a representative office or head of a project office of an international organization or a non-governmental organization; or (ii) a relative of members of foreign diplomatic missions in Vietnam who are permitted to work according to international treaties to which Vietnam is a signatory, the employer is not required to request the approval of a foreign labour usage plan.

With respect to a certificate of work permit exemption:

  • A foreign individual in charge of establishing a commercial presence in Vietnam will be exempt from obtaining a work permit, but will still be required to apply for a certificate of work permit exemption;
  • Relative(s) of members of foreign diplomatic missions in Vietnam, who are permitted to work according to international treaties to which Vietnam is a signatory, are not required to apply for a certificate of work permit exemption.

With respect to a work permit application:

  • The copy of the employee’s passport or a substitute for passport, or other valid licences for international travel, is no longer required to be notarized;
  • A work permit will be granted within five working days of receipt of the full application, instead of seven days as previously stipulated in decree No. 11; and
  • The employer having the head office in a province and city but having representative offices or branches at another province and city is entitled to file the application at the Ministry of Labour, War Invalids and Social Affairs.

Readers should not act on this information without seeking professional legal advice

Source: Asia Business Law Journal

Park Hang-seo plots Japan upset at Asian Cup 2019

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Vietnam coach, Mr. Park Hang-seo has displayed something of a Midas touch in his 16 months as coach of Vietnam and on Thursday he has a chance to deliver one of the most stunning upsets in Asian Cup history when his side take on Japan in the quarter-finals.

According to a report on Channel News Asia, Japan are blue bloods of Asian football – four-times continental champions, regulars at the World Cup finals with a squad stock-full of players who have seen action in top leagues around the world.

Against such pedigree in Dubai on Thursday, South Korean Park will send out a raw team of youngsters who have captivated the proud Southeast Asian nation with runs deep into three regional and age group tournaments over the last year.

Park recognises that Japan will present a whole different level of opposition for his players, most teenagers or in their early twenties, at Al Maktoum Stadium.

“The Japanese players are experienced and are individually skilful so we have to do our best and prepare perfectly to take the challenge to Japan tomorrow,” Park told reporters on Wednesday.

“Many pundits are expecting Japan to win tomorrow but our technical team is working hard to achieve victory and I believe our players will fight till the end without fear.”

The Golden Dragons have showed that fight already at the Asian Cup, coming through a tough group also featuring former champions Iran and Iraq before rallying from a goal down to beat in-form Jordan on penalties in the last 16.

Nguyen Trong Hoang and Nguyen Quang Hai have proved themselves to be players of real quality and Japan will be wise not to give them any space in midfield.

The Samurai Blue, who won their last title in 2011, would be the first to admit that they have not really fired in the United Arab Emirates, winning all four of their matches by a single goal.

Coach Hajime Moriyasu had introduced a more attacking style when he took over after Japan’s run to the last 16 at last year’s World Cup but at the Asian Cup they have reverted to a more conservative approach.

“We’re here and we aim to win the title but the team needs some development because we have some new players who are lacking experience,” Moriyasu said.

“We are playing each match and learning from them. We know tomorrow will be a difficult match, but we’ll do our best and bring the confidence of having won our four matches.”

Moriyasu will be without suspended Newcastle United striker Yoshinori Muto but otherwise has a full squad to choose from for a match which will decide who meets Iran or China in the semi-finals.

(Reporting by Nick Mulvenney, editing by Christian Radnedge)

Why Vietnam is the best place for Trump-Kim Summit?

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By Mike Ives

Vietnam appears to be the leading contender as host for the Trump-Kim Summit as President Trump planning to meet North Korea’s leader, Kim Jong-un, next month.

The meeting would be a reprise of the leaders’ landmark summit meeting last June, and holding it in Vietnam would cast a spotlight on a country that has become an economic powerhouse in Southeast Asia after emerging from poverty and isolation in the decades since the Vietnam War.

A White House official said the meeting’s date and location would be announced later. Thailand and Hawaii have also been mentioned as possible sites, but Vietnam is considered the best bet.

Picking Vietnam could make sense for the United States and South Korea, because American officials have pointed to it as a political and economic model for North Korea to follow.

Why would Seoul and Washington like the idea?

Vietnam, a former enemy of South Korea and the United States, has joined the global economy and become a strategic ally and robust trading partner for both countries.

Vietnam and South Korea normalized relations in 1992, and Hanoi is now Seoul’s fourth-largest trading partner after China, the United States and Japan, with two-way trade valued last year at $62.6 billion.

Vietnam and the United States normalized relations in 1995, two decades after North Vietnam defeated the American-backed South Vietnamese regime to end the Vietnam War. From 1995 to 2016 — a period of heady economic growth in Vietnam — trade between the United States and Vietnam grew to nearly $52 billion from $451 million. Hanoi is now among Washington’s fastest-growing export markets.

“The fact that we’re cooperating — and not fighting — is proof that when a country decides to create a brighter future for itself alongside the United States, we follow through on American promises,” Secretary of State Mike Pompeo said during a trip to Hanoi last summer.

“The miracle could be your miracle,” Mr. Pompeo added, referring to North Korea and its leader.

What are Vietnam-North Korean relations like?

Even though Vietnam and North Korea are both ideologically socialist, Vietnam’s ruling Communist Party has traditionally been run on a more collective model, with power split at the top among a triumvirate of leaders.
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The North Korean model is more “Kim family-cult based,” said Hoo Chiew-Ping, an expert on North Korea’s relations with Southeast Asia at the National University of Malaysia.

Still, Pyongyang is one of Hanoi’s oldest friends.

North Korea recognized Vietnam’s communist regime diplomatically in 1950 — four years before Vietnam won its independence from France. It also provided material and personnel to North Vietnam during its war against the United States.

Vietnam, for its part, supported North Korea’s membership in the ASEAN Regional Forum, a dialogue on political and security issues, and sponsored reconciliation talks between North Korea and Japan.

And during North Korea’s devastating famine in the 1990s, Hanoi swapped rice for weapons from Pyongyang, with Vietnam getting two miniature submarines and some Scud missiles, among other weaponry.

Would Vietnam welcome a Trump-Kim summit?

The idea has not garnered much attention on Vietnamese social media in recent days, but recent reports in Vietnam’s state-run news media suggest that the country’s leadership would relish the opportunity of being the host for such a high-profile event.

Prime Minister Nguyen Xuan Phuc vowed last week to “do our best to facilitate the meeting” if Vietnam were chosen as host.

“Vietnam has cooperated well with the U.S. in developing economic and trade relations, as well as in other areas,” he said in an interview with Bloomberg News.

Vietnam has a complex foreign policy built on a web of partnerships with multiple world powers, including China, Russia and the United States.

Le Hong Hiep, a Vietnam expert at the ISEAS-Yusof Ishak Institute in Singapore, said that serving as host for the summit meeting could help Vietnam “sell its economic success story” and play a more active role in regional affairs to match its growing economic clout.

As a possible site of the summit, American and Vietnamese officials are said to be considering Danang, an up-and-coming coastal city that played host to Mr. Trump and other world leaders in 2017 at a regional economic forum.

Would Kim Jong-un follow Vietnam’s lead?

Mr. Hiep said the United States and South Korea should be careful not to overemphasize the comparison between North Korea and Vietnam.

“Kim Jong-un has proven to be an independent-minded leader,” Mr. Hiep said, “and he may not like to officially acknowledge that he is following another country’s model, especially under external influence or pressure.”

North Korea may also be wary of a Vietnam-style growth model, because Vietnam is so economically dependent on China, its neighbor and largest trading partner, said Eunjung Lim, an expert on comparative governance at Ritsumeikan University in Kyoto, Japan.

Ms. Lim said the North Korean leader might see Singapore as a better model because of its strategic position as a trading port between the Middle East and East Asia and its role as a hub for the transportation and financial industries.

North Korea is similarly well positioned — between China, Russia, South Korea and Japan — which could likewise contribute tremendously to its economy.

She said Mr. Kim might also take inspiration from Singapore’s Lee family dynasty, which has stayed in power since the country’s founding in 1965, even though that country, unlike North Korea, has democratic elections.

“North Korea is a dynasty,” Ms. Lim said. “Of course, it is a one-party system, but dynastic features of its regime are more important to consider.”

Read full article on nytimes.com

Activities reproduce traditional Lunar New Year in Hanoi

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A series of cultural activities reproducing traditional characteristics of Tet (Lunar New Year) festival in Hanoi will be held in the Hanoi Old Quarter, Hoan Kiem District, from January 25 to February 24.

Visitors to Kim Ngan Temple, at No. 42-44 Hang Bac Street, will have a chance to learn more about the decoration and arrangement of the living space of Hanoians, as well as local families’ offerings to worship gods at the temples, during Tet.

Photos and objects on traditional Tet activities, along with the bonsai hobby and tea enjoyment style of the capital’s residents in the past, will also be introduced at the Heritage House at 87 Ma May Street.

Notably, an exhibition will be organised at the Hanoi Old Quarter Culture Exchange Centre, 50 Dao Duy Tu Street, featuring pottery works from Huong Canh village, in the northern province of Vinh Phuc, as well as do (poonah) paintings from Duong O village, Bac Ninh province.

On the occasion, artisan Giang Thi Nhan from Huong Canh pottery centre will demonstrate the hand-clawing skills, while researchers of do papers will present stories about the history and significance of this traditional fine art type. In addition, artists will paint ‘pigs’ – the mascot symbol of this Lunar New Year.

Many other cultural and arts activities will be held at the pedestrian streets and surrounding areas, being expected to attract large numbers of both local people and visitors.

According to a report on Nhan Dan

Vietnam spends 5.8% of GDP on education

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Vietnam allocates 5.8% of GDP per year on education and is one of the countries with great interest in education, a Vietnamese minister has said.

Vietnamese Minister of Education and Training Phung Xuan Nha revealed the information at the World Education Forum held in London on January 20-23, Vietnam News Agency reported.
The minister added that if the family’s contribution is included, this figure reaches 8% of GDP, showing an interest in education in every Vietnamese family.

Vietnam’s GDP increased 7.1% in 2018 to reach some US$240 billion.

In recent years, the Vietnamese government’s investment on education has been increasing, maintaining 20% of total budget expenditures, Nha noted.

At the event, he talked about the relationship among teachers, families, students and the community to create a practical and effective education. Nha also mentioned three aspects, namely equality, investment in education and efficiency.

The minister added that as of December 31, 2018, Vietnam had attracted 455 foreign invested projects in education with total capital of more than US$4 billion. The Vietnamese government has also approved 530 joint training programs between local and foreign universities, including more than 80 programs with British schools.

However, the minister also acknowledged that Vietnam’s education has still encountered many challenges. Vietnamese students have achieved high results in exams but their soft skills and learning motivation remain weak.

The World Education Forum is the largest forum for education ministers around the world held annually in London. This year’s forum attracted 1,263 delegates from 95 different countries.

The forum aims to discuss future education policies. During the three-day forum, attendees listen to in-depth presentations from pioneering educational researchers, policy makers and educational experts.

The education forum is organized under the sponsorship and assistance of the UK’s Foreign Office, the Department for Education, the Department for International Trade, the British Council and some partners in the field of education.

According to a report on Hanoi Times

Go Viet drivers quit due to higher commission rate

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Many partner-drivers of the ride-hailing brand Go Viet, a unit of Indonesian firm Go-Jek, have voiced their opposition to a new policy of Go Viet to increase the commission rate to 20% from the current 0%. Some drivers have even quit though the firm announced it would refund 10% of the fares to them.

Go Viet said in a recent notice that it plans to apply the 20% commission policy to the total fares of its motorcycle-based services: the ride-hailing service Go-Bike, the on-demand delivery service Go-Send and the food delivery service Go-Food.

The notice indicated that those drivers who had successfully registered the app Go Bike Partner before August 10, 2018, in HCMC would still be entitled to the zero commission rate, until later this month.

Many Go Bike drivers told Nguoi Lao Dong Online newspaper that they were shocked and unhappy with the new policy.

Thanh, a driver from Binh Thanh District, remarked that upon being informed of the new commission rate, many of his fellow drivers decided to suspend their services, and some are looking for new jobs to earn a higher income.

A young driver, named Dong, whose hometown is in the Mekong Delta province of Dong Thap, said that Go-Viet drivers pay the firm VND8,000 for each short ride, whereas its ride-hailing competitor Grab collects a higher sum of VND10,000.

However, if Go-Viet applies the 20% commission rate, its drivers will likely earn very little money or even incur losses due to their fuel costs, he added.

Many drivers claimed that Go-Viet earlier did not collect commissions when headhunting Grab drivers and expanding its ride-hailing market share in Vietnam.

They reasoned that since Go-Viet has gained an increasingly firm foothold in the local ride-hailing market since its debut in August 2018 and former Grab drivers cannot rejoin the Singapore-based firm, Go-Viet deliberately manipulated the policy.

According to a report on SGT

Saigon Railway adds 10 ‘five-star’ carriages for Tet holiday

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The Sai Gon Railway Transport Joint Stock Company recently received additional 10 ‘five-star’ carriages on trains connecting HCM City and Hanoi in order to serve passengers during the upcoming Tet (Lunar New Year) holiday.

The coaches made of composite have semi-automatic doors, LED lighting system, power sockets, reading light, eco-safe toilets with automatic hand touch sensor faucet bathroom sink tap.

They are fire- and sound-proof and have wider aisles to give passengers more space to walk.

With the modern carriages, the Railways expects to provide passengers a more pleasant and comfortable rail travel.

According to a report on SGGP

Vietjet passes special supervision after incident series

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The low-cost Vietnamese carrier Vietjet has gained a pass over the month-long special supervision by the Civil Aviation Authority of Vietnam (CAAV), which resulted from a sequence of incidents involving its flights last month.

A Vietjet leader told Tuoi Tre (Youth) newspaper on Tuesday afternoon that the budget carrier is no longer under a special watch by the aviation watchdog.

Accordingly, Vietjet and CAAV have completed the airline’s supervision to comprehensively enhance its operations, and to facilitate its flight network growth plan in 2019.

The Hanoi-headquartered airline promised to ensure absolute flight safety for its passengers and strengthen the public trust in Vietjet in particular and the Vietnamese aviation market in general.

On December 25, CAAV director Dinh Viet Thang imposed special supervision on Vietjet’s operations at four airports including Tan Son Nhat in Ho Chi Minh City, Noi Bai in Hanoi, Da Nang in the eponymous city, and Cam Ranh in the south-central province of Khanh Hoa for one month.

The decision was made after a Vietjet flight landed on a wrong runway after another flight of the airline had had to make an emergency landing, both happening in one day, not to mention a serious incident in late November where the nose wheels of a Vietjet plane fell off minutes before landing.

Also on Tuesday afternoon, Vietjet announced in a press release that it will add more than 2,500 flights with 500,000 seats, in order to meet the increasing demand during the Lunar New Year holiday, which will fall early next month.

Accordingly, from January 20 to February 19, Vietjet plans to operate more than 12,500 flights totally, offering over 2.5 million seats, a rise of nearly 16 percent from last year.

According to a report on Tuoi Tre

Taiwan arrests 7 over disappearance of a group of 152 Vietnamese

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Seven suspected members of a human trafficking ring have been arrested in Taiwan over the disappearance of a group of 152 Vietnamese who came to the island to work illegally, authorities said on Tuesday (Jan 22).

Taiwan authorities have been searching for the missing Vietnamese since last month after they landed on tourist visas under an initiative to attract more visitors from south and southeast Asia at a time arrivals from mainland China have declined.

According to channelnewsasia.com, some 88 of the Vietnamese had been located by Tuesday, the National Immigration Agency said in a statement, while three others were believed to have already left the island.

Prosecutors were investigating those arrested – including three Taiwan-based Vietnamese suspected of being the ring masterminds – for violating immigration, human trafficking and other laws.

“The ring collaborated with Vietnamese human trafficking groups to operate in both Taiwan and Vietnam … and recruited Vietnamese to come to Taiwan to work under the pretext of sightseeing,” the statement said.

The agency said the ring used a messaging app to recruit Vietnamese women to work as prostitutes for up to Tw$3,500 (US$113) per service.

“Some people have fallen victim to sexual exploitation due to rising debt,” it said, referring to the ring’s charge of US$1,000 – US$3,000 per person to arrange a Taiwan visa.

They face deportation and a three- to five-year ban from the island, it said.

Around 400 tourists have previously gone missing under the programme, according to the tourism bureau, although it is not clear how many have since been found.

The tourism initiative is part of Taiwan’s “southbound policy”, which targets 16 south and southeast Asian countries – as well as Australia and New Zealand – in a bid to boost tourism as arrivals from China decline.

The number of tourists from the mainland has slid dramatically as relations with China deteriorate, with speculation authorities are turning off the taps to pressure the government of the Beijing-sceptic President Tsai Ing-wen, who came to office in 2016.

Tan Son Nhat Airport- Ba Ria-Vung Tau luxury bus to run

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Ho Chi Minh City Department of Transport is preparing to launch a bus route connecting Tan Son Nhat Airport to Ba Ria-Vung Tau Province before Tet Holiday.

This is the first shuttle bus connecting Tan Son Nhat Airport with other bus stations in other provinces. The new bus will go into operation in late January and is not subsidised.

The route is 105km long and the bus will work from 12 am to 11.30 pm. The travel time is estimated to be around 150 minutes. Passengers will have to pay VND80,000 (USD3.45) for half of the route and VND160,000 if they want to go further. The bus will go through HCM City-Long Thanh-Dau Giay route to save travel time.

The bus will have wifi and screens on the back of the seats for passengers’ entertainment during the three-hour trip. Avi Go Company, the project’s investor, said they would also help passengers with check-in procedures.

The police in HCM City were asked to work closely with other agencies in Ba Ria-Vung Tau Province to ensure traffic safety.

HCM City has opened five shuttle bus routes from Tan Son Nhat Airport to local inter-province bus stations in the city. HCM City Department of Transport said they also wanted to open more shuttle buses to other provinces including Binh Duong and Dong Nai.

According to a report on Dan Tri

Real estate market in 2019 marked by 5 trends

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Vietnam’s real estate market will be shaped by five main trends in 2019 according to a JLL report: the mid-end and affordable apartment segment, flexible workspaces, technology companies in the office segment, e-commerce in logistics, and hotel lifestyle.

The mid-end and affordable segment will dominate the country’s property market, with the report noting an increase in small and ultra-small apartments. About ten years ago, high-rise projects had two-bedroom apartments of about 120 sq m, but now there are no two-room apartments over 100 sq m being built.

Preferences in apartment size among both buyers and developers have changed. “Most first-time homebuyers are only able to afford larger apartments in apartment blocks far from the city center,” said Mr. Stephen Wyatt, General Director of JLL Vietnam. “But psychologically, young buyers want to live in a convenient location, so they buy small apartments with full amenities and community connections.”

Flexible workspaces, meanwhile, are becoming increasingly popular in Vietnam, largely due to the limited supply of traditional office space in sought-after locations.

According to the report, there are now 25 high-end flexible space operators in Vietnam, with prominent players including Toong, Dreamplex, Circo, Workyos, Kloud, CEO Suites, UP and WeWork.

Flexible space is also considered an answer to financial issues faced by companies compared to traditional office space, due to the lower cost from sharing space and facilities.

Early on, demand mainly came from startups wishing to rent short-term office space as well as businesses seeking temporary office locations. Co-working operators now focus on finding and approaching tenants who need to move and renovate office space into co-working models through temporary services called tailoring offices.

With the strong growth in e-commerce in Vietnam, JLL predicts technology companies will continue to hunt for ideal office space and quickly become the main tenant group. This presents an opportunity to investors who can build office space quickly to keep up with demand.

The report showed that, in 2018, Ho Chi Minh City recorded the largest office rental transaction in the last ten years, with an e-commerce giant leasing an office space of 10,000 sq m in a convenient location.

Prerequisites for technology companies in terms of office location is that it must allow it to attract talent and have convenient traffic links as well as live-work-play facilities integrated into the surrounding environment.

Revenue from online shopping activities continues to increase, so there is increasing pressure on logistics networks, supply chains, distribution and retail channels, as well as factory and warehouse networks.

According to the report, many foreign logistics and e-commerce providers are working hard to not miss the opportunity to penetrate into Vietnam. The creation of the BW Industry Development JSC, a joint venture between the Warburg Pincus Global Investment Fund and Becamex IDC, in January 2018 was a sign of the great potential in this market.

Compared to other countries in the region, Vietnam’s logistics market is still in its infancy, mainly providing low-tech products and services. With the development potential of the e-commerce market and the manufacturing sector, Vietnam’s logistics market is expected to take a new step forward in development, similar to the process other markets in the area have already gone through.

Finally, hotel lifestyle, a modern hotel model with increasing exposure to nature, is increasing. In particular, the report notes that major demand in this segment comes from millennials, who take regular business trips, travel frequently, and have multiple work locations. More than anything else, they are always looking for the experience of being part of a community.

With the shortage of hotel supply in famous tourist destinations such as Ho Chi Minh City, Hanoi, Da Nang, Nha Trang, and Phu Quoc Island, the hotel lifestyle market is receiving considerable attention from investors, especially homeowners, who seek nature-friendly properties with beautiful views.

According to a report on VN Economic Times

Tours to UAE in high demand as Vietnam enters Asian Cup 2019 quarterfinals

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Tours to the United Arab Emirates have been flying off the shelves after the national men’s football team earned a place at the AFC Asian Cup 2019 quarterfinals, scheduled to take place in Dubai on January 24.

Pham Van Bay, deputy director of the tour operator Vietravel’s Hanoi branch, said that this time round, the company will bring some 200 football fans to the West Asian nation, and as of noon on January 21, half of the available seats had already been booked.

The two-day tour costs 27.9-30 million VND (1,200-1,290 USD) which covers the round-trip ticket, a ticket to the stadium, and visa. The company will operate charter flights which will use Vietnam Airlines aircraft and depart from Hanoi and Ho Chi Minh City on January 24.

The travel firm Hanoi Red Tours is also offering a two-day tour worth 27.9 million VND starting from January 24, with fans receiving Vietnam flag T-shirts, hats, and banners as gifts to cheer up the Vietnamese team.

Vietnam advanced to the quarterfinals of the ongoing football tourney AFC Asian Cup 2019 after a breathtaking shootout with Jordan on the evening of January 20 in the UAE.

The two sides finished the official 90 minutes of the match with a 1-1 draw, in which Vietnam conceded a goal in the first half and gradually scored an equaliser in the second.

After extra time went by without a goal, the teams entered the penalty shootout, where Vietnam won 4-2.

Vietnam will face the winner of the match between Japan and Saudi Arabia, scheduled for the evening of January 21.

According to a report on VNA

TV ad prices surge for Asian Cup quarter-final

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Vietnam Television has announced a sharp price of VND800m (USD34,500) for a 30-second ad package during the Japan-Vietnam match in the Asian Cup quarter-final, an increase by VND200m compared to the Jordan-Vietnam match.

The prices for a 10, 15 and 20-second advertisements are VND400m (USD17,200), VND480m and VND600m respectively. The prices increased by VND100m, VND120m and VND150m compared to the same packages for the Vietnam-Jordan match.

These TV ad prices are the same for the France and Croatia match during the World Cup and is only lower than the VND950m (USD41,000) package for Malaysia-Vietnam match during the AFF Cup 2018.

The TV ad price placement during the commentary section during the match also increased by VND100m (USD4,300) to VND200m. A 10-second ad cost VND375m, VND450m for a 15-second ad, VND562.5m for a 20-second ad and VND750m for a 30-second ad.

TV ad prices for other matches in the Asian Cup only increased by VND5m (USD215) to VND10m. A 10, 15, 20, and 30-second ad cost VND30m, VND36m, VND45m and VND60m respectively.

If Vietnam go further, the TV ad prices will get even higher and reach record numbers.

Vietnam will play Japan on January 24 at Rashid Al Maktoum Stadium in Dubai.

Source: Dtinews

HDBank ends 2018 with a bang

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Ho Chi Minh City-based commercial lender HDBank registered very upbeat business results in 2018 with strong growth across the board.

In the fourth quarter of last year, the bank registered a 122 per cent jump in its consolidated pre-tax profit to more than VND1.121 trillion ($48.7 million). Its net interest income amounted to VND2.161 trillion ($94 million), up 23.9 per cent on-year, with the parent bank contributing VND1.430 trillion ($62.2 million), up 35.8 per cent.

HDBank also reported strong growth in earnings from services and foreign exchange activities which contributed to raising its total operating income (TOI) by 37.8 per cent.

Generally, the bank posted the highest-ever pre-tax profit of VND4.005 trillion ($174.1 million) last year, a 65.7 per cent jump on-year. This included VND438 billion ($19.04 million) of net profit from services, which is double the figure last year. Meanwhile, net earnings from foreign exchange activities also doubled, hitting VND298 billion ($13 million).

The bank’s net interest income totalled VND7.646 trillion ($332.4 million), a 20 per cent jump on-year, whereas its total operating income rose by 25.7 per cent to VND9.438 trillion ($410.3 million).

As of the end of last month, the bank’s assets totalled VND216.1 trillion ($9.4 billion), up 14.1 per cent versus 2017. HDBank has mobilised nearly VND191.6 trillion ($8.3 billion) and raised its equity by 14 per cent to VND16.8 trillion ($730.4 million), making it ready to apply Basel II standards as soon as it receives the State Bank of Vietnam’s approval.

The bank’s return on equity and return on assets were 20.27 and 1.58 per cent, respectively. Its bad debt ratio stood at 0.97 per cent, the lowest in the local banking sector.

Last year, the bank opened an additional 45 branches and transaction offices, taking the total to 285 nationwide. Additionally, HD SAISON Finance, a joint venture between HDBank and Japan’s finance corporation Credit Saison, served nearly seven million customers at 13,825 offices, including more than 2,300 offices opened in 2018.

Besides effective business activities, HDBank witnessed a number of milestones in its development in 2018. Particularly, the bank’s ticker seized a spot among the 20 stocks with the largest market cap in the southern bourse (HoSE) and was net-bought continuously by foreign investors.

The lender was also awarded the second-class Labour Medal on the occasion of its 28th birthday.

Moody’s Investors Service has increased the bank’s counterparty risk rating (CRR) and counterparty risk assessment (CRA) to B1 grade. HDBank was one of 37 businesses in Ho Chi Minh City making the largest contribution to the city’s budget.

It won multiple awards last year, including the “Best Companies to Work for in Asia” award of HR Asia, the “Retail Banking Award 2018” by the Vietnam Banks Association and International Data Group, and the “Cash Management in Asia-Pacific” award by Euromoney.

Besides business activities, HDBank has attached great importance to community programmes. The bank presented 1,000 scholarships to students and thousands of health insurance cards to near-poor people, as well funded thousands of cataract surgeries to help the poor.

Accompanying Vietnam’s sports development, last year was the eighth consecutive year that HDBank Cup International Open Chess stirred up the world’s chess circle, with a record number of nearly 300 players coming from 21 countries and territories.

Besides, in its second annual series, the National Futsal Championship – HDBank 2018 continued to bring quality matches to the wide community of football fans.

This year, HDBank expects to increase its asset value to nearly VND328.6 trillion ($14.3 billion), mobilise more than VND303 trillion ($13 billion), achieve VND210.8 trillion ($9.16 billion) in total outstanding loan balance, generate some VND5.1 trillion ($220 million) in pre-tax profit, and expand its transaction network to 308 offices. ​

Source: VIR

Most foreigners with fake admin documents in Cambodia are Vietnamese

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Vietnamese nationals possessed 90 percent of all illegal administrative documents seized from foreigners in Cambodia last year.
Citing the Ministry of Interior, the Phnom Penh Post also reported Tuesday that the drive to seize fake and other illegitimate documents from immigrants will continue for the next six months.

It quoted Kirth Chantharith, director-general of the ministry’s General Immigration Department as saying the 30,000 documents seized throughout last year included family books, residence books, identity cards, birth certificates and passports.

Cambodia has deported approximately 15,000 people since 2014, 3,000 of them last year, said Chantharith. Most of the deported were Vietnamese, Chinese and Nigerians, he added.

A majority of the Vietnamese, Chinese and Nigerians were involved in phone scams.

Chantharith also said that foreigners from 40 other countries were also expelled from Cambodia.

“Forging national documents is a crime. If we do not take prohibitive measures, more problems will arise. Those issuing the documents should also be held accountable,” said Soeung Sen Karuna, a human rights investigator.

“This sort of problem has occurred far too often and it has become the new normal,” Karuna said.

Cambodia has been eliminating and withdrawing illegitimate national administrative documents in the hands of foreigners since August 2017 under a governmental directive.

Source: Vnexpress

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