Vietnam among top five for private participation in infrastructure, pushing by foreign investors

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Rising investment of the private sector, especially of foreign firms, into Vietnam’s infrastructure projects has helped the country make its debut as a top-five country for private participation in infrastructure (PPI) in the first half of this year.

According to a World Bank (WB) report released this week, thirty-four countries received PPI investments in the first half of 2018, with the top five countries – China, Turkey, India, Vietnam and Brazil – accounting for 66 percent of the global total, 10 percent higher than in 2017. Anh Hong reports on Hanoitimes.

The top five countries attracted US$28.9 billion of PPI investment capital in H1 2018, of which China lured US$11.6 billion across 37 projects; Turkey with US$7.2 billion across eight projects; India with US$3.8 billion across 24 projects; Vietnam with US$3.4 billion across 10 projects; and Brazil with US$3.0 billion across 11 projects.

Related topic: Investment Consulting in Vietnam

Regionally, East Asia & Pacific received the highest level of PPI investment in the period, at US$17.3 billion. This marked a 27 percent increase from H1 2017 and was led by China and Vietnam.

China by itself accounted for more than a quarter (27 percent) of global investment commitments, which was mostly due to a surge of road projects in the country.

Meanwhile, Vietnam accounted for 8 percent of global investment commitments, with a total of US$3.4 billion across 10 projects. All the projects were electricity-generation projects—nine of them used renewable energy sources, and one was a US$1.9 billion coal megaproject.

The WB’s report also showed that Vietnam was the leader in attracting new electricity-generation projects in H1 2018, with 10 projects worth a total investment capital of US$3.4 billion in H1 2018.

The most dominant form of technology in H1 2018 was solar, accounting for almost one-third of total investments in the sector across 49 projects. Solar-energy projects were recorded in 23 countries. Of the total, India led with six projects, while Brazil, Ukraine and Vietnam tied for second place with five projects each.

Priority sector

According to WB analysts, Vietnam’s commitment to reducing its reliance on coal-fired power and to dealing with environmental issues has resulted in an increased focus on investment in the renewable-energy sector.

Under a government master plan, the total designed capacity of solar power generation must amount to 850MW in 2020 and 4,000MW by 2025. Meanwhile, the total capacity of solar and wind power set for 2030 is 12,000MW and 6,000MW, respectively.

To encourage private investment in the sector, the government regulates that the FIT for solar power is set at 9.35 cents per kWh while the rates for onshore and offshore wind power projects are 8.5 US cents and 9.8 US cents per kWh, respectively. With such prices, renewable power projects will be profitable as the power retail price currently averages at only 7.54 US cents.

The government also plans to continue encouraging foreign investors to pour cash into the renewable energy as it is among priority industries put under the country’s FDI attraction strategy in the next decade.

However, to attract the inflow, Vu Chi Mai, senior project officer of the ‘Support to the Up-Scaling of Wind Power in Vietnam’ project under the GIZ Energy Support Program, said that the government should issue a more holistic and longer-term development plan for the industry.

According to Mai, the biggest challenge for the industry is the grid connection issue. Investors, while putting a considerable amount of investment into the project, want to get a clear confirmed grid connection agreement.

Besides, clear and transparent policies on wind and renewable energy will maintain investors’ trust and motivation, Mai suggested, adding in the long run, to achieve the government’s goals on renewable energy development, adjustments to the power purchase agreement should be considered to meet the requirements of international financial institutions.

Vietnam conducted drills to prevent the spread of African swine fever

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Vietnamese authorities on December 05, 2018 conducted drills to prevent the spread of African swine fever should there be an outbreak of the disease in the country, as the risks of transmission from neighboring China increase.

According to a report by Mai Nguyen on Reuters, The highly contagious fever has killed around a million pigs worldwide and recently spread rapidly across China, which has reported 80 cases since early August.

In footage shown on state-run Vietnam Television (VTV), officials covered from head to toe in protective clothing were seen taking samples from dead pigs and spraying corpses before burying them in a large pit in the ground.

“The fever is only 150 kilometers away from our border, so it’s necessary to understand the risk and danger…if it reaches our 27 millions pigs,” said Tong Xuan Chinh, vice head of the agriculture ministry’s livestock department.

Vietnam has more than 27 millions pigs, most of which are consumed domestically, with pork accounting for three quarters of total meat consumption in the Southeast Asian nation of 95 million people, Chinh said.

“If this fever infects our pigs, it will be a major hit to the economy, society, environment and food security,” Chinh said. He added that authorities were tightly controlling the transportation of pigs and pork products from China and had banned pork products from other infected countries such as Poland and Hungary.

Last month, China reported outbreaks of African swine fever in several provinces, including Yunnan, a border province with Vietnam.

There is also a danger of the disease spreading into Vietnam through smuggled pigs of unknown origin. Smuggling is a regular occurrence, especially in the northern border provinces with China, the agriculture ministry said last week.

Authorities in Vietnam have destroyed 324 pigs and nearly 17 tonnes of pork products that have been smuggled or which do not have clear origins in 63 cases since August, the ministry said in a statement on its website.

Vietnam is a country full of good people, good food, and a good time; what more could I ask for?

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By Ali McCarthy, Guest Writer

Good people, good food, and a good time; what more could I ask for?

Vietnam is a country full of beautiful cultures, a deep history, friendly people, and delicious foods. On our first day in Vietnam, my friends and I decided to do a walking tour through Ho Chi Minh City to better understand the traditional foods common in the area. Plus, I mean, who doesn’t love some quality food?

We began at a restaurant where we were taught step by step how to make spring rolls. It’s definitely not as easy as it looks, but we had a blast trying, and failing, to make them into a perfect rolls. But, thankfully our guides, local women from Ho Chi Minh City, were more than eager to share and teach the process to all of us. These ladies were some of the kindest and funniest people I have ever met, and I enjoyed our various conversations throughout the day.

We continued to one of the oldest coffee shops in the city, where were able to not only try the coffee and food but also see the back kitchen to learn about how the owners brewed their famous coffee. They were more than accommodating of my vegetarian diet and ordered us all various traditional sandwiches there. It was one of the best dishes I’ve ever had, and even though I was a bit hesitant to try all of these different foods, I was delighted by the new flavors.

Though the owner of the coffee shop spoke no English, we were able to pass the language barrier through music. She turned on her tiny radio and as a group we began to dance with her, instantly filling the restaurant with smiles and laughter from everyone present. At that moment, we were not Americans and she was not Vietnamese, we were just people in a coffee shop enjoying our night together. Eventually, our time there died down and we made our way to our last destination.

Very full and very sleepy, we made it to our final restaurant, where we were given a traditional meal of pho and some kind of rice cake for dessert. Though I learned so much about the country through the exposure to their foods and traditions, it was incomparable to what I learned from the people themselves.

We sat around the table asking questions about the way the country worked, the lives of the people, the language, and countless other topics. We saw temples and worship areas as we walked from place to place and were able to learn about their religion and beliefs. It was fascinating to see the topics I had been learning in my philosophy class in front of me. I am more than thankful that we decided to try something new and attempt a food tour because it ended up being so much more than that.

Food was a small part of what I learned that day. Friendships, understanding, and a broadened perspective were much more prominent parts of the day, which in my opinion, are priceless.

An entire Vietnam’s Hanoi street dedicated to one special dish – This is Cha Ca La Vong

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Based on its bare-bones exterior, the restaurant at number 14 Cha Ca Street doesn’t look like much.

But the line out the door indicates we’re in the right place.

This is Cha Ca La Vong – one of the oldest eateries in Hanoi, Vietnam, and the first to set up shop on Cha Ca Street, over a century ago.

According to a report by Justin Solomon, Kate Springer on CNN, along the busy road, where spiderwebs of exposed electric wires hang overhead, dozens of specialists compete to sell the best cha ca – crispy turmeric-marinated fish that’s fried tableside in a pan with herbs.

The dish’s universal appeal has made the namesake street in the Old Quarter a popular stop among travelers and residents alike.

“When I walk down Cha Ca Street, it brings me back to my childhood,” Nguyen My Giang Huong (a.k.a Tin), chef-owner of Green Tangerine restaurant in Hanoi, tells CNN Travel.

“People in Hanoi take food very seriously — whatever is on the table it is important. (Enjoying cha ca) is a great moment that brings the family together.”

Hanoi’s most famous dish

Cha ca dates back more than 130 years. It was first invented by the local Doan family, who served the special dish to troops during French colonial rule.

“When troops came to Hanoi, the family used to make them this one dish,” says Tin. “Since they made it so well, everyone encouraged them to open a restaurant.”

And that restaurant was Cha Ca La Vong.

Following the restaurant’s wild success, dozens of cha ca specialists emerged along the same road — some even mimic the name — like Cha Ca La Song — in hopes of baiting travelers.

Eventually, Hang Son (Paint Street) was officially renamed Cha Ca Street in honor of the world-famous dish.

A DIY experience

There’s a street in Hanoi that’s entirely dedicated to chả cá — a vermicelli noodle dish with turmeric-spiced catfish that diners grill themselves. @ Dan Tham

Usually made with snakehead, a freshwater fish found across Vietnam, cha ca is considered one of Hanoi’s signature dishes.

The marinade — a mix of turmeric, garlic, shallots, galangal (similar to ginger root), salt, sugar and fish sauce — is the most important step.

After marinating the fish for at least an hour, it’s usually grilled in advance, then fried in oil when it’s ready to consume.

In a traditional cha ca restaurant, it’s a DIY experience.

“You come in, sit down, give your order — just choose one portion or two,” says Tin.

A searing hot pan with marinated fish will arrive at the table, alongside a basket of accoutrements — think vermicelli, fresh herbs (like dill, basil and spring onion), roasted peanuts, chili, and mam nem (a fermented shrimp paste) with a distinct musky aroma.

As the fish and herbs grill in front of your eyes, the turmeric marinade turns the fillet a glorious golden shade while a grassy aroma of dill fills the air.

Once it’s sizzling, enjoy bite-sized slices of fish with some salty peanuts, herbs and vermicelli.

New interpretations

As Hanoi’s restaurant scene continues to evolve, cha ca is no longer contained to its namesake street.

Modern interpretations of the beloved fish dish can be found at contemporary restaurants around Hanoi, including cha ca-style tacos at MAD Society, a refined iteration at T-Art and wine pairing suggestions at Sofitel Legend Metropole Hanoi’s Spices Garden restaurant.

At Green Tangerine, for example, Tin whips up his own variation.

He uses premium ingredients, such as crushed saffron, fermented rice, spring onion and lemongrass. It’s served alongside a bed of risotto, rather than vermicelli noodles.

“The smell of fermented rice really makes the marinade stand out,” says Tin. “This is my version of cha ca.”

Cha Ca street on the Google Map

Airport security officers fined over assault on airline staff in north-central Vietnam

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Four security officers at an airport in the north-central Vietnamese province of Thanh Hoa have been fined following an incident where a group of men attacked a female airline employee at the facility in late November.

Trinh Hong Quan, Vu Quoc Hoi, Trinh Ngoc Hoan, and Dao Van Dung, who are members of the security unit of Tho Xuan Airport, were fined VND4 million (US$171) each for failing to follow protocols, affecting civil aviation operations at the airdrome.

The fining is in accordance with Government Decree No. 147, which dictates that such an error should subject one to a VND3 million ($128) to VND5 million ($213) penalty.

The incident took place at around 2:20 pm on November 23, when a group of three men, namely Le Van Nhi, 41, Le Trung Dung, 34, and Pham Huu An, 28, took their friend to the airdrome.

The friend was scheduled to board a flight to Ho Chi Minh City at 3:05 pm.

Nhi, Dung, and An then asked Le Thi Giang, a ground service staff of budget carrier Vietjet, to take a photo of them, before continuing to ask her to join them for a group selfie.

Giang refused the second request, just to be verbally abused by the three men.

An and Nhi later slapped the woman and hit her head with a phone.

Le Thi Hien, a representative of the airline, attempted to interfere and received a slap on her face and a kick to her abdomen from Nhi.

Dung also hit two airport security officers.

The attackers were eventually arrested when airport security was reinforced by police from Tho Xuan District.

The incident was caught on CCTV and the footage later went viral on social media.

Many viewers believed that the security officers at the scene were rather slow and passive as they were unable to prevent the violence from escalating.

The Civil Aviation Authority of Vietnam previously announced they had imposed a 12-month flight ban upon the three men.

The police unit in Tho Xuan confirmed on November 25 they had initiated legal proceedings against the men for “disturbing public order.”

Source: Tuoitrenews

Company proposes to renovate To Lich River

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Phuong Bac Infrastructure Company proposed November 8 to transform the heavily-polluted To Lich River in Hanoi.

The company chairman Dam Van Long confirmed in the written proposal that they wouldn’t collect fees and introduced Vingroup as the project’s investor. They suggested using both build-transfer and build-operate-transfer (BOT) models for this project.

For packages that use BOT model, investors can open tourism services on To Lich River for a period of time. The company also suggested setting up a comprehensive system for tourism include inland waterway transportation and floating cafes.

Another proposal is to make it a public-private-partnership project in which investors can open services on To Lich River for a period of time with preferential treatments. They want to turn To Lich into a pleasant urban feature.

The drainage system must be changed so that only rainwater will be discharged into the river and the wastewater will be directed into another route. Investors must plant trees, dredge and clean the river. To Lich River could be connected with the Red River and other existing rivers.

In the future, other polluted rivers such as Kim Nguu and Nhue can be renovated to improve the drainage system in the capital.

However, Pham Thanh Tung, chief office of the Vietnam Association of Architects, opposed the project. According to Tung, the rivers have been turned into open sewers as wastewater and rubbish are dumped into the water.

“Projects to revive the polluted rivers are necessary but they should not be taken advantages of to do businesses,” he said. “It will be a mistake in urban planning.”

Source: Dtinews

AFF Cup: Take nothing for granted, coach tells Vietnamese team

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‘We played well in the first leg, but nothing is assured,’ coach Park Hang-seo says ahead of second leg semifinal.
Although Vietnam had an impressive away victory against the Philippines, and play them at home tomorrow, coach Park Hang-seo advised his wards to remain level-headed.

“We played good in the first leg, but nothing is assured. I think the players as well as the fans haven’t forgotten the lesson with the Malaysia match in 2014. The most important thing for us now is to stay focused. Each and every player should not lose control and must remain cool under pressure,” Park said.

At the last AFF Cup four years ago, under coach Toshiya Miura, Vietnam won the first leg away, 2-1, but suffered an unexpected 2-4 second leg loss at the My Dinh National Stadium, knocking them out of the final.

“We want perfect preparation, tactical, physical and mental for tomorrow,” Park said.

Centre forward Ha Duc Chinh said the team was ready for tomorrow’s match.

“The coach has boosted our spirits so we can play well in tomorrow’s game and go into the final. We are ready,” Chinh said.

On the other side, Philippines head coach Sven-Goran Eriksson stayed positive despite the first leg loss.

“We will get to see a big game tomorrow. Philippines lost in the first leg, so the situation is obviously difficult for us. However, we come to Hanoi to win, not to travel. Tomorrow, Philippines will have to attack, but at the same time cannot concede more goals,” Eriksson said.

Team captain Phil Younghusband said the Philippines still had a chance.

“We will do everything we can to win. I’m looking forward to tomorrow’s game. We used to win in Hanoi and hope that will be repeated. Philippines still have a chance,” he said.

The second leg of AFF Cup semi-finals between Vietnam and Philippines will kick off tomorrow, December 6 at 7:30 p.m., at the My Dinh National Stadium. With two away goals in the first leg, Vietnam has the edge, for now.

The winner will play either Thailand or Malaysia in the final on December 11.

Lam Thoa, Duy Doan report on Vnexpress

PM suggests Lotte Group establish startup foundation

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Suggestion made during reception for Lotte Chairman on December 4 in Hanoi.

Lotte Foundation presents student scholarships
Lotte keen on local startups
Lotte Accelerator to pour $1mn into Vietnamese startups
Prime Minister Nguyen Xuan Phuc suggested the Lotte Group establish a startup foundation for young Vietnamese during his reception for Chairman of the Lotte Group, Mr. Shin Dong Bin, on December 4 in Hanoi.

Appreciating Lotte’s recent investment projects in Vietnam, the Prime Minister asked it to invest in production projects in Vietnam, encourage South Korean leaders to enhance cooperation, and increase the consumption of goods in Vietnam, especially agricultural products.

“Vietnam is launching a movement of startups and there have been 3,000 projects, of which about 100 ideas have been invested in by foreign investors with large capital,” Prime Minister Phuc said. “We therefore look forward to cooperating and promoting this movement in Vietnam.”

Mr. Bin noted that he will soon launch the establishment of a startup foundation for youth in Vietnam. He also said that his visit to Vietnam aims at accelerating the implementation of huge projects in Ho Chi Minh City and Hanoi.

The Lotte Group, he said, has been present in Vietnam for more than 20 years and has employed 2,000 Vietnamese workers with total investment of VND40 trillion ($1.7 billion). The group is committed to investment projects in Vietnam that apply advanced technology and are friendly on the environment.

Lotte has organized a Vietnam-based trade fair in South Korea since 2011 and will continue to do so.

It is also interested in talent development and is investing in several startup projects in Vietnam. At the end of October, it announced it will invest $1 million in Vietnamese startups over the next five years and the figure could be adjusted upwards.

Lotte is the fifth-largest economic group in South Korea, controlling over 60 business units in diverse industries such as foodstuffs, retail, tourism, heavy chemicals, IT, construction, entertainment, and financial services.

It is strengthening its domestic core business while expanding its overseas operations, with a focus on developing countries including Russia, India, China, Indonesia and Vietnam.

The group has set a goal of becoming one of Asia’s top 10 global groups by 2018.

Ngoc Lan report on Vneconomictimes

Vietnamese currency falls to new low, could go lower

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The official exchange rate between Vietnamese dong and U.S. dollar reached its highest this year Wednesday, and experts said the dong could further.
The State Bank of Vietnam set a central exchange rate of VND22,757 on Wednesday, the sixth time the rate has gone up in the last two weeks.

The dong has fallen by VND352, or 1.57 percent, against the greenback since the beginning of the year.

The dollar’s value increased at commercial banks. At 3p.m. Wednesday, Vietcombank sold the dollar for VND23,350, VND15 higher than Tuesday.

Vietinbank also sold its dollar for VND23,350, VND17 higher than Tuesday, while BIDV sold it at VND23,355, VND25 higher.

The dollar also inched up on the free market. At 11.30 a.m. Wednesday, it was selling for VND23,360-23,410, VND10-20 higher than on Tuesday.

Economist Nguyen Tri Hieu said that the reason for the hike was high demand for dollars toward the end of the year as businesses often import large amounts of material needed for manufacturing.

The ongoing U.S.-China trade war continues to exert exchange rate pressures, despite the U.S. announcing a 90-day halt on additional tariffs on Chinese goods starting next year, as there is no certainty that tensions will decline, he said.

“There is a high possibility that the dong’s value will continue to fall this year,” Hieu told VnExpress International.

Hieu said that the government should also devaluate the dong against the Chinese yuan so that the trade deficit between Vietnam and China can be reduced.

Vietnam relies heavily on China for materials and equipment for its labor-intensive manufacturing sector.

As the yuan’s value has fallen by 9 percent to the dollar since the beginning of this year, some experts have said that the dong should be devaluated even more to avoid impacts a cheaper yuan. Cheap made-in-China goods could be imported in large quantities to Vietnam and compete with domestic products, they said.

But economist Tran Dinh Thien said that the dong should be kept at a balanced rate between the U.S. dollar and the Chinese yuan. A 2-3 percent band a year is acceptable, he added.

A stronger dollar will benefit exporters, but will also create stronger pressure on inflation and interest rates which will increase business costs in a country with high imports and public debt, Thien said at a recent conference.

He added that the fluctuation of the dong should be controlled to help local companies conduct their business with greater certainty.

The government doesn’t want businesses to suffer shocks, he said.

Prime Minister Nguyen Xuan Phuc had said in August that the devaluation of the dong needs to be kept within a 2-percent band this year compared with the end of last year.

Dat Nguyen report on Vnexpress

December 5: VN-Index down slightly

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Market does well amid global concerns.

The afternoon session on the stock market opened amid some excitement, with cash flows continuing to pour in and helping indexes rise.

At 1.40pm the VN-Index had increased 1.8 points (0.19 per cent) to 960.64 points and the HNX-Index 0.41 points (0.38 per cent) to 107.8 points, while the UPCoM-Index fell slightly, by 0.04 points. Liquidity continued to be quite good, with a matching order value of over VND3 trillion ($128.9 million).

At the end of the session, however, selling pressure increased, causing the market to lose ground. The VN-Index finished the day down 1.7 points (0.18 per cent) to 957.14 points. Despite falling under 960 points in the closing minutes, trade was quite positive on the day, given investor psychology was significantly affected by fluctuations in world stock markets.

The HNX-Index increased 0.35 points (0.33 per cent) to 107.74 points. Overall, the number of decliners was 271, outpacing 251 decliners.

Liquidity was quite high, with the value of matching orders reaching VND4.4 trillion ($189.1 million). Foreigners were net sellers by VND22 billion ($945,945), in which HPG was net sold by VND36 billion ($1.5 million) and PVS by VND29 billion ($1.24 million).

Cash flow was spread out in the afternoon. Banks and insurance companies such as BVH, BIC, BMI, CTG, MBB, VPB, TPB, and TCB and real estate and construction stocks CEO, DXG, HDG, KBC, VGC, and VCG increased strongly.

Bluechips such as HPG, MWG, PNJ, VRE, and VIC also increased and supported the market.

Total trading volume on HNX was over 41.88 million shares valued at VND639 billion ($24.7 million). In the put through market, there were 6.75 million shares traded for VND58.5 billion ($2.5 million).

The UPCoM-Index showed signs of recovery and closed slightly higher.

POW, OIL, QNS, VIB, MSR, VGI, NTC, and MCH all rose while VEA, HVN, DVN, KOS, and ACV all fell.

My Van report on Vneconomictimes

11% of 56 million people in Vietnam’s workforce have high skills

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From Vietnam’s workforce of approximately 56 million people, about 11% of them have high skills.

Ministry of Labor-Invalids and Social Affairs and ManpowerGroup Vietnam just hosted a conference in Hanoi, which aimed to list the problems and the trends in the labour market and suggest skills for the young generation.

In the conference Deputy Minister Diep affirmed the government’s priority of developing the new skills for Vietnamese workers, in order to ease the integration to the world and adapt to Industry 4.0.

Last week, a report from the Central Institute for Economic Management (CIEM) stated that Industry 4.0 has the potential to boost Vietnam’s economic output by a further USD 28.5-62.1 billion, equivalent to the GDP growth of 7-16% by 2030.

ManpowerGroup Country Manager, Vietnam, Thailand and Middle East, Simon Matthews, and representatives of businesses, vocational schools, and labour associations attended the conference.

A photo collection of chaotic traffic in Hanoi, Vietnam

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“Fantastic four” is a collection by photographer Pham Thanh Long. The photo album focuses on the motorbike, the most popular means of transport in Hanoi and across Vietnam.

Four people were carrying large blue barrels of leftover food. @ Pham Thanh Long
Using the phone while driving | @ Pham Thanh Long
On Hanoi’s streets, these rickety old motorbikes are a familiar scene. | @ Pham Thanh Long
The sleeping children are carried in different styles on motorbikes | @ Pham Thanh Long
Four drivers stuck in traffic jams, all surrounded by cars | @ Pham Thanh Long
Four Vietnamese riding across the street by just waving their hands to signal to oncoming vehicles. | @ Pham Thanh Long
Riding habits from more angles. | @ Pham Thanh Long
Riders do not wear helmets | @ Pham Thanh Long
Using motorbike to carry all sorts of things irrespective of size | @ Pham Thanh Long
The motorbike riders are carrying extra long tubes or iron bars | @ Pham Thanh Long
The Vietnam Association of Motorbike Manufacturers estimates 8,768 new motorbikes hot the streets on average every day. | @ Pham Thanh Long
“Vietnamese street ninjas” | @ Pham Thanh Long
Four bald men on the street without helmets | @ Pham Thanh Long
These riders putting their feet up high, removing their bike mirrors. | @ Pham Thanh Long
These men carry their wives and bulky goods from outside the city to sell | @ Pham Thanh Long

Korean media commend coach Park’s “magic” at AFF Cup

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The Korean media extolled coach Park Hang-Seo after he led Vietnam’s national football team to a 2-1 win against the Philippines in the first leg of the ASEAN Federation Football (AFF) Suzuki Cup 2018 semifinals.

The Hankyoreh newspaper published an article in which it said Park’s magic helped Vietnam defeat the Philippines. The article said Vietnam’s triumph over the host Philippines in the semifinal first leg brought them a significant advantage in the return leg at home on December 6. The winners will take on either Thailand or Malaysia in the final.

The paper stressed Vietnam is targeting its second championship at the AFF Suzuki Cup after 10 years since it won the title for the first time. Earlier, coach Park helped the country become the first runner-up of the 2018 AFC U23 Championship and rank 4th at the Asian Games (ASIAD) 2018, it added.

An article of the Nocutnews said the Philippine players, coached by famous Swedish football manager and former player Sven-Goran Eriksson, had lost to their Vietnamese peers. It wrote Park once stated that winning the AFF Suzuki Cup is his top priority. His team passed the qualification round with three wins and one draw.

The Sport MK said in an article that the AFF Suzuki Cup can be considered a World Cup of the Southeast Asian region. According to the article, under the guidance of coach Park, Vietnam, which let no team score their goal during the qualifiers, is targeting at the championship title. The team beat the Philippines, a tough rival consisting of many qualified players, in the semifinal first leg and is moving closer to the final.

The AFF Suzuki Cup 2018 takes place from November 8 to December 15. This year, it features a new playing format, with both home and away ties.

According to a report on VNA

More foreign capital flowing into Vietnam through M&As

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Foreign direct investment (FDI) keeps flowing to Vietnam, but investors are increasingly pouring more capital through M&As.

According to the General Statistics Office (GSO), FDI capital as of October 20 had reached $15.1 billion, an increase of 6.3 percent over the same period last year.

Also in the last 10 months, 5,342 deals with foreign investors making capital contributions and buying into Vietnamese enterprises, worth $6.3 billion, have been reported, an increase of 35.8 percent against the same period last year.

The processing and manufacturing industry attracted the most FDI with registered capital of $6.85 billion, accounting for 45.6 percent of total FDI capital. Meanwhile, the real estate sector attracted $5.1 billion, and other industries, $3 billion, or 20.4 percent.

The National Finance Supervisory Council reported that investment through M&A is a growing tendency among foreign investors because it has allowed them to shorten the time for procedures and grab opportunities brought by M&A.

Four countries are leading in Vietnam’s M&A market: Singapore, Thailand, South Korea and Japan.

In the real estate sector, there were a few huge deals, including the Japanese Sumitomo Corporation to develop a 272 hectare smart city capitalized at $4.1 billion. In addition, the deal of GIC pouring $1.3 billion into Vinhomes also caught attention from the public.

The US-based investment fund Warburg Pincus has teamed up with Becamex IDC to set up a joint venture with capital of $200 million. And Keppel Land from Singapore acquired the remaining 16 percent of Sowatco shares in the Saigon Centre project.

Meanwhile, Hong KongLand has become the strategic partner of CII, a well known HCMC-based infrastructure developer, and Alpha King has taken over Golden Hill Complex.

Analysts noted that foreign investors are seeking more land and Vietnamese partners to develop projects in different market segments, from industrial real estate to apartments and resorts.

Most recently, 14 multinational groups from Hong Kong, the US, Ireland, Germany and Thailand came to Vietnam to learn about the investment environment in Dong Nai province.

Vietnam, with a young population and growing middle class, is increasingly attractive to foreign investors.

MAF 2018 Report showed that more than 4,000 M&A deals were made in the last 10 years. The M&A market has been expanding with market scale in 2017 larger by 10 times than 2009.

The M&A value in 2018 is predicted to reach $6.9 billion with capital pouring into consumer manufacturing and real estate sectors.

A PwC survey on the threshold of the 26th APEC summit showed that 51 percent of business leaders in APEC plan to increase investments. The countries that are attracting the most investment are Vietnam, China, the US, Australia and Thailand.

According to a report on Vietnamnet

Co-working spaces becoming increasingly popular

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With high office rent in Vietnam, especially compared with other ASEAN countries, co-working spaces have become increasingly popular.

Aleph Labs has become one of the first clients of WeWork, the US-based startup, with a total value of $20 billion in 2017. It officially entered the Vietnamese market last week.

Uyen Nguyen, CEO of Alepth Labs, a software firm with 400 workers present in seven Asian cities, said she decided to move from A-class office to WeWork because of the visual uniformity. Most workers at Alepth Labs are young who need a creative and highly interactive environment.

WeWork’s first co-working space, set at E-Town Central Building in district 4, will be open in December, while two more spaces expected to come out in HCMC and Hanoi in 2019.

While the customers of WeWork’s rivals are mostly startups and freelancers, the customers of WeWork are large-scale firms with 45 percent of firms having more than 1,000 workers.

According to Turochas Fuad, CEO of WeWork ASEAN, the rental in Vietnam is second highest in ASEAN, just below Singapore, which shows that it is a market with great potential and demand.

After three years of operation, Toong established a network with 10 co-working spaces in Hanoi and HCMC (Vietnam), Vientiane (Laos) and Phnom Penh (Cambodia).

Pham Thuy Linh, marketing & branding director of Toong said the total floor area Toong would provide by the end of this year could reach 20,000 square meters.

Linh said though this is a new type of office, co-working spaces have been lauded by youth and technology firms, helping Toong connect a 3,500-member community of individuals and businesses, from startups, small & medium sized enterprises to large corporations.

Toong’s clients have 1-1,000 workers, operating in 36 business fields, from finance, healthcare, education, tourism and NGOs.

Turochas Fuad said that young people are changing their working modes. They tend to work in large cities, and seek communities for connection and creativity . There are up to 60 million people in Vietnam below aged 35.

“Vietnam is one of the fastest growing economies in the world and in ASEAN. It is now the right time for us to exploit the market,” he said.

Tu Thi Hong An from Alpha King, which owns the Atlas brand, said the co-working market now has the biggest ever potential for development.

“Everything, from design, resources to functions of offices, will change completely in the coming years. If we pay attention to the factors promoting the needs and requirements of modern tenants, the opportunities will prove to be endless,” she said.

According to a report on Vietnamnet

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