VPBank honored for SME services

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Bank wins “The SME Bank of the Year” from IFC.

The Vietnam Prosperity Joint Stock Bank (VPBank) overcame more than 100 competitors to be named “The SME Bank of the Year” in Asia at the inaugural Global SME Finance Awards, held in conjunction with the Global SME Finance Forum and managed by the International Finance Corporation, part of the World Bank Group. This is the fourth global award VPBank has won for its SME banking franchise.

Entrants were scored by 60 judges and each winner was further reviewed by six to eight judges.

The jury commended VPBank for the robust growth of its SME franchise. It also lauded the bank for its initiative to develop a women enterprise solution in Vietnam, which include financial and non-financial values, and highlighted its use of digital technology to improve the SME customer experience in non-financial services, called SME Connect.

“The Global SME Finance Awards celebrate best-in-class financial institutions and fintechs that have achieved remarkable results in their SME product or service offerings,” said Mr. Matthew Gamser, CEO of the SME Finance Forum. “Our winners are diverse, but they all share a strong commitment to helping small businesses in their markets with their dedication and innovative practices.”

“This is the fourth time VPBank has been named SME bank of the year,” said Mr. Fung Kai Jin, Deputy CEO and SME Head of VPBank. “This award is not only recognition of our efforts in empowering Vietnamese SME clients but also inspires us to keep our commitment to providing products and innovative services for SME in Vietnam, helping them to prosper.”

VPBank was established in 1993 and has transformed its model in recent years. SMEs is one of three core segments the bank focuses on with special investment in its business model, people and SME solutions.

In June it launched its women enterprise segment to the market. It was also named a pioneer in the market, providing financial services, especially non-collateral loans, to a large but unmet market in Vietnam: micro, small and medium-sized enterprises.

Source: Vneconomictimes

Vietnam to test 5G network in 2019

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Vietnam has ambitions to be among the world’s first countries to launch 5G networks in 2020, with a testing phase expected in 2019, the information ministry said on Wednesday.

The launch of 5G will be a huge leap forward in quality for Vietnam’s telecommunications industry, said information minister Nguyen Manh Hung at an innovation event in Hanoi on Wednesday.

5G is the fifth generation of cellular mobile communications, succeeding the 4G, 3G, and 2G systems.

5G networks will rely on denser arrays of small antennae and the cloud to offer data speeds up to 50 or 100 times faster than current 4G networks and serve as critical infrastructure for a range of industries, according to a Reuters report.

Unlike the upgrades of cellular standards 2G in the early 1990s, 3G around the new millennium and 4G in 2010, 5G standards will not just deliver faster phone and computer data but they also help connect up cars, machines, cargo and crop equipment.

Therefore, Hung said, the 5G network is the most important infrastructure of the Fourth Industrial Revolution, and establishing a developed 5G network should be Vietnam’s top priority if it wants to be at the forefront of this revolution.

“5G is an opportunity for Vietnam not only to improve its data services and telecommunications ranking, but also to develop the country’s information and communications technology (ICT) industry,” Hung said.

Speaking with the media on the sidelines of Wednesday’s event, deputy director of Vietnam’s Authority of Radio Frequency Management Le Van Tuan said a separate frequency band will be reserved for 5G services to ensure adequate bandwidth.

Optical fiber cables will also be used to link 5G transceiver stations for optimal data transfer rates.

Nguyen Vu Luu, director of strategy for military-run telecom group Viettel, said a million end-devices within an area of one square kilometer can simultaneously connect to the 5G network.

However, Vietnamese mobile users have every reason to remain skeptical about the positive prospects of 5G technology.

Though the first 4G service in Vietnam was launched in October 2016, as of today mobile network operators in Vietnam still have to use the same radio frequency band of 1,800 MHz for both their 4G and 2G services, which negatively affects bandwidth and data transfer rates.

In October, the information ministry announced that it would allocate a separate frequency band for 4G services as early as in November, but so far the transition has not taken place.

Today, around 30 million mobile users in Vietnam are subscribed to 4G data plans.

Vietnam ranks 46th out of 88 surveyed countries in terms of 4G speed, averaging 21.49Mbps, according to the 2018 State of LTE Report by OpenSignal.

According to a report on Tuoi Tre News

Major loss-making foreign-invested firms to be inspected for tax compliance

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The General Department of Taxation (GDT) has just sent a document asking provincial and city Departments of Taxation to inspect and supervise groups, corporations, and companies, which reported big losses over the past years.

According to the GDT, from the beginning of the year to October 23, tax authorities have conducted 70,102 inspections, reaching 78 per cent of the yearly plan and equalling 97 per cent of the same period last year. The resulting tax arrears detected by the amounted to VND12.84 trillion ($558.2 million).

According to tienphong.vn, based on the list of businesses in the 2018 plan of inspection, tax agencies will need to start immediately auditing certain groups, corporations, and businesses.

The GDT also ordered the inspection of FDI firms which made big losses over the past years and have conducted large related-party transactions, especially those where the parties are located in countries and territories that charge low- or no corporate income tax.

Earlier, in 2012 GDT reported that 57 per cent of 5,500 reviewed foreign-invested firms (equalling 60 per cent of the total number of FIEs) reported net losses in 2010 and 2011. Among all economic sectors, the rate of loss was highest among FDI firms, between 48 and 52 per cent in 2008-2014.

Meanwhile, the GSO reported that the pre-tax profit of all economic sectors in 2017 was VND876.7 trillion ($38.1 billion). Of this, FDI enterprises made the largest profit with around VND384.1 trillion ($16.7 billion), equalling 44 per cent of the total, nearly doubling the state-owned sector (VND200.9 trillion – $8.7 billion), while the domestic sector made VND291.6 trillion ($12.7 billion).

However, the FDI sector contributed only VND265.7 trillion ($11.6 billion) to the state budget, equivalent to 28 per cent of the total, while the state-owned sector contributed VND291.6 trillion ($12.7 billion) and domestic sector VND407.6 trillion ($17.7 billion).

In a conference on transfer pricing organised by the State Audit Office of Vietnam (SAV) a few months ago, Tran Khanh Hoa, director general of SAV’s General Affairs Department, pointed out specific signals through studies of cases suspected of transfer pricing, such as Coca-Cola, PepsiCo, as well supermarkets Metro and Big C.

These signals include reporting losses over many years but continuously expanding the scale of production and business; very low profit margin; low rate of contribution to the state budget, while total investment and expenses are high; being sponsored by affiliated or parent companies; goods are sourced from at least three countries.

Source: Dtinews

Miners’ bodies found after Hoa Binh mine collapse

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The bodies of two miners have been found in a gold mine collapse in Hoa Binh Province.

The first miner was found on November 10, after seven days the search and rescue mission was started. The rescuers had to make a bamboo raft in order to travel inside the cave. The first body was identified as Truong Cong Chanh.

On November 14, the rescuers found truck buried deep under the mud in the cave and the body of the second miner was found next to it.

The rescuers transferred the body of the second miner out and on the following day, Nguyen Van Hai, vice chairman of Lac Thuy District, confirmed that the second miner had been identified as Bui Van Thu.

The authorities are examining the scene of the accident and carrying out autopsy before returning the miners’ bodies to their families.

The search ended after 11 days with over 100 officers and volunteers.

On November 4, two workers were working inside Cot Co Cave at 2 am when a dam at the cave’s mouth broke and water flushed into the cave. Rocks and gravel were also swept in and blocked the exit. The mine, owned by Bach Xuan Hung, has been in illegal operation for about five years. Hung has been detained for investigation.

Quach Tat Liem, chairman of Lac Thuy District, said on November 7 that if the miners had not been found that day, their chance of survival was pretty low.

Source: Dtinews

November 15: VN-Index down 0.42%

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Only UPCoM gains ground.

Many stocks were sold aggressively on November 15 as the VN-Index lost ground.

On HSX, the VN-Index closed at 897.15 points, down 3.78 points (0.42 per cent), and the VN30-Index 864.98 points, down 6.57 points (0.75 per cent).

On HNX, the HNX-Index finished at 101.02 points, down 0.18 points (0.18 per cent), and the HNX30-Index 181.48 points, down 0.56 points (0.31 per cent), while the UPCoM-Index reached 51.25 points, up 0.01 points (0.02 per cent).

Liquidity on HSX was VND2.5 trillion ($107.2 million) and on HNX was VND502.4 billion ($21.5 million).

Food and beverage stocks to gain ground included VCF and SAB, by 1.3 and 0.8 per cent, as BBC lost 3.3 per cent, VNM 0.4 per cent, and BHN and TLG 0.1 per cent.

In banking, BID gained 3.3 per cent, MBB 1 per cent, MSN 0.5 per cent, VCB and STB 0.4 per cent, and CTG and TPB 0.2 per cent, as VCI lost 5.4 per cent, VPB 4.3 per cent, BVH 4.1 per cent, and SSI 0.7 per cent. EIB and TCB closed at their opening price.

In energy, PVD gained 2.3 per cent, NT2 0.6 per cent, PPC 0.3 per cent, and GAS 0.2 per cent, as PVT lost 4 per cent and PGD 0.8 per cent. PLX closed at its opening price.

The Top 5 shares bought by foreign investors were HCM, VNM, SBT, VRE and BID.

VIC was the largest net sold share on HSX, followed by HPG, HDB, GEX and CTI.

API was the largest net sold share on HNX, followed by ART, BTW, BVS and CEO.

On UPCoM, foreign investors bought 336,800 shares worth VND9.2 billion ($394,745).

They net sold on HSX by VND359.2 billion ($15.4 million) and on HNX by VN122.4 billion ($5.2 million).

Huyen Thanh report on Vneconomictimes

Online Friday expected to see US$64 million in sales

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Online Friday 2018, which will be held on December 7, is expected to see sales of VND1.5 trillion (US$64 million) from two million orders, event organiser Viet Nam E-commerce and Digital Economy Agency (IDEA) under the Ministry of Industry and Trade said.

Speaking at a press conference held in Ha Noi on Wednesday, the agency said there would be 5,000 products with promotional prices in the fifth year of the event.

Around 3,000 businesses registered to join the programme. The event will continue to accept payments through QR code and POS systems. The technical system was prepared to handle five million visitors and 150,000 interactions at the same time.

Dang Hoang Hai, IDEA’s director, said they would organise an event to provide digital technologies and e-commerce experiences to customers on walking street around Hoan Kiem Lake from November 30 to December 9.

To ensure product and service quality, the organiser told firms to provide certificates of origin, Hai said.

The organiser will co-operate with price comparison apps to ensure the products offered during Online Friday are promotional prices before uploading to http://www.onlinefriday.vn.

Many big brands plan to participate such as Samsung, Jetstar, Vinamilk, Lazada, Shopee, Tiki, Lotte, Adayroi, The gioi di dong, Yes24, FPTshop and ViettelStore.

He said delivery businesses such as VnPost, Nijavan, Lalamove and Snailship would support firms by reducing delivery costs for the event.

Moreover, 20 banks will join in cash-back programmes to help customers use card payments.

Online Friday 2018 was organised and implemented following the Government’s Decree 81/2018/ND-CP detailing the commercial law regarding trade promotion activities.

The maximum value of goods and services used for sale promotion and the maximum discount rate for promoted goods and services are extended to 100 per cent in concentration promotion. For this reason, Online Friday will have products sold at zero dong or with prices reduced by 90 per cent.

Online Friday was organised for the first time in 2014 with 400,000 visitors, 160,000 orders and VND154 billion in revenue.

Last year, the programme received 2.4 million visitors, 1.3 million orders and VND1.22 trillion in revenue.

According to a report on VNS

Vietnamese businesses warned they may lose home market

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While Vietnamese enterprises gather strength to make products for export, Thai goods have been conquering the domestic market.

Trade experts have repeatedly criticized Vietnamese exporters for their unreasonable business strategy – exporting products with the best quality, while reserving lower-quality goods for domestic consumption.

Exporters can expect higher profits from exports rather than the products sold in the domestic market. In addition, foreign markets are choosier than the domestic market, so lower-quality exports will not be accepted.

Pham Tat Thang, a senior researcher of the Ministry of Industry and Trade (MOIT), commented that many products for domestic sale cannot satisfy the standards, blaming this on bad state management and unreasonable business views.

“If the situation cannot be improved, we will lose the home market,” he warned.

While Vietnamese manufacturers ignore the domestic market, foreign enterprises find the Vietnamese market very attractive.

Thai enterprises were cited by Thang as an example.

Thailand opens trade fairs every year to popularize its products, sending a message to Vietnamese consumers that Thai products have high quality and reasonable prices.

Thai distributors bring Thai products to supermarkets and their distribution chains to approach Vietnamese consumers. They also bring their goods to traditional wholesale markets in Vietnam, including Dong Xuan, the largest wholesale market in the north, Han Market in Da Nang City, Dong Ba in Hue City and Ben Thanh Market in HCMC. They encourage the establishment of convenience stores which are located in residential quarters.

An analyst, agreeing with Thang, noted that Thais have been following a very professional way to penetrate the Vietnamese market.

“Thai sell Thai goods in Vietnam, using facilities in Vietnam, Vietnamese workers and Vietnamese capital. And they have succeeded,” he commented.

“Vietnamese women, who decide what to buy for their families, tend to buy Thai goods when they want anything, from kitchenware, household-use electronics to clothes and cosmetics,” he said.

He said that ASEAN has become a single market with the establishment of AEC, and if Vietnam cannot take full advantage of AEC, it would lose the home market and fail to penetrate other markets in AEC.

“Coming back to conquer the home market is vital for Vietnamese enterprises,” Thang commented.

Some businessmen recently complained that it is too difficult to conquer the home market, though their exports have been accepted all over the world.

On this issue, Thang said the problem lies in the state management and the relation between manufacturers and distribution chains.

He also said Vietnamese enterprises do not pay appropriate attention to how to make products for Vietnamese.

According to a report on Vietnamnet

Zalo – A Vietnam’s super app might be acquired by Facebook in 2020

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Following on the lead of other “super apps,” Zalo has been integrating new functions into its app, including a payment platform called Zalo Pay, which was introduced last year.

Launched in 2012, Zalo is Vietnam’s premier chatting platform, with more than 100 million users worldwide. On a daily basis, people send about 900 million messages, make 50 million minutes of calls, and deliver 45 million pictures through the app.

Zalo Pay 1Zalo was a latecomer in the mobile payment game, introducing the Zalo Pay feature only in 2017. Zalo Pay did however achieve great success at the beginning of 2018 by running a “lucky money” campaign during the Lunar New Year that enabled users to gift lucky money to their loved ones using the digital wallet.

Like most e-wallet services out there, Zalo Pay allows users to link a payment card to make peer-to-peer payments, pay via NFC, QR codes, as well as purchase products and services online, mobile topups, and pay their utility bills.

But unlike most, it has an advantage over digital wallet rivals since it already has an enormous user base from its messaging application.

Rise of the “super apps”

Zalo joins the growing list of Vietnam’s so-called “super apps” which are leveraging their extensive user base to gain a foothold into numerous businesses.

A super app is described as a “powerful app” that incorporates many functions and features, from social networking and e-commerce, to goods delivery, and financial services. Grab, Now, Zalo and Go-Viet are currently Vietnam’s biggest players.

Zalo reached the 100 million user milestone earlier this year, while Grab said two out of every ten Vietnamese use its service. As for Now.vn, the platform doesn’t share exact numbers but it is said to be Vietnam’s food delivery leader in terms of daily orders. Now.vn is a brand owned by Foody, a leading culinary media and restaurant listing platform in Vietnam.

As of late-2015, Foody had 122,000 listed restaurants, 297,000 reviews, 1.66 million photos, 2.12 million collections, 650,000 app downloads and 9.1 million monthly visitors, which include 5.9 million mobile users.

Singapore-based tech unicorn Grab offers ride-hailing, food delivery services, good delivery services, logistics services, and since last year, financial services. It launched its mobile payments services in November 2017, and began offering micro-loans and insurance options in March 2018.

In Vietnam, Grab is partnered with Moca Technology and Service company, which holds the payment services license. The two companies launched a cashless payment method called GrabPay by Moca.

Meanwhile, Now.vn is cooperating with AirPay, a digital wallet provider.

Besides Zalo Pay, the Zalo app also comes with several other features including Zalo Shop, which allows users to purchase commodities online. Users can also check bus routes and weather information, buy airline tickets, look up the sanitation level of food shops, update health information, book their medical examination, and pay electricity as well as water bills.

App developers are trying to follow WeChat, China’s leading messaging app with over 900 million users that has since grown into an enormous ecosystem, encompassing social networking features, mobile financial services, transportation bookings, doctor appointments bookings, news feeds, and more.

“Consumers are increasingly living a modern lifestyle that is accompanied by digital services,” said Tran Thanh Nam, founder and director of mobile payment player MOCA Technology and Services Corporation.

“In addition to free social networks, they have begun to pay attention to incorporating electronic services for their daily needs. From ride hailing to food delivery, it comes with safe and convenient non-cash payments.”

But competition is heating up in the Vietnamese mobile payment market with new players like TrueMoney entering the market. Yet, one of the biggest threats might actually be coming from foreign tech giants.

Facebook will buy Zalo Pay?

Facebook started testing out social commercial payment methods for users in Thailand in 2016 and has been looking to enter the Vietnamese market. Last year, the Military Commercial Joint Stock Bank, a unit run by Vietnam’s army, reportedly teamed up with popular social media site Facebook to pilot Facebook Payment in Vietnam.

Facebook announced its payment feature in March 2015 which allows users to send and receive money over its Messenger messaging app. The feature lets users connect their Visa or MasterCard debit card and tap a “$” button to send friends money on iOS, Android, and desktop with zero fees.

The social networking giant began expanding its financial services business overseas in 2016 when it registered Facebook Payments International Limited in Ireland, then in Spain.

By fintechnews.sg

The same-sex couple on Vietnam’s ‘The Bachelor’ explains how they secretly fell in love.

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In 22 seasons of “The Bachelor” and 14 seasons of “The Bachelorette,” we’ve yet to see a season centered around a same-sex couple. When Elan Gale, an executive producer for the ABC shows, was asked this year if an LGBT season might be coming soon, he didn’t rule it out but didn’t commit to the idea, either, saying: “We’ll see what the future holds.”

According to an interview by Solo-ish on The Washington Post, there’s been at least one bisexual contestant on “The Bachelor,” but two same-sex contestants have never ended up together. However, it’s happened in Vietnam. This fall on the country’s Bachelor show, contestant Minh Thu told the male lead that she’s found love but not with him — with fellow contestant Truc Nhu. In an emotional rose ceremony, Minh Thu asked Truc Nhu to come home with her.

Truc stayed on the show a little longer, but once she was eliminated, she got together with Minh. Solo-ish asked the couple about their relationship, which they discussed through the help of a translator. The following exchange has been edited for clarity and length.

Solo-ish: Minh Thu, what was the moment you realized you had feelings for Truc Nhu?

Minh Thu: At the end of the second episode, Truc Nhu was the last person to get her name called for a rose. I was worried she was going to be eliminated, and I realized I didn’t want to be far from her. After that, my feelings started to seem like something more.

During Episode 3, the other people on the show joked that Truc Nhu might be up for elimination again. Before we started filming that day, I cried a lot. I asked myself why was I crying so much. After that, I gradually was able to understand what my feelings were.

Solo-ish: Truc Nhu, how did you feel when Minh Thu confessed her feelings for you? Were you surprised?

Truc Nhu: I was surprised. I didn’t know if Minh Thu had thoughtfully reflected. Did she really like me, or was she doing something to make the show exciting?

But when I saw her face looking back at me, her expression was so true. Actually, during that time [when Minh Thu was talking to the Bachelor], I couldn’t hear what she was saying. I just knew that Minh Thu wanted me to go home with her. I was surprised she was daring enough to say that on TV. It’s like she wasn’t afraid of what people would say.

Solo-ish: Tell me how your love blossomed on the show.

Truc Nhu: When the show started filming, we were assigned to the same room. When I looked through the door’s peephole and saw Minh Thu waiting outside, her expression seemed snobby. I let her knock three times before I let her in. Minh Thu was very adorable and polite when speaking to me. I was a bit more guarded and cold at first.

After we finished filming the second episode where I was the last one called for a rose and almost eliminated, I looked back at the rest of the contestants almost in a way of saying, “It was great to know all of you. Now it’s my time to leave.” I saw Minh Thu, and her eyes were shaking with tears because she was scared I would leave. It made me wonder why she was so worried and sad about me being eliminated. When the results came and I wasn’t eliminated, I went downstairs, and she was waiting for me so that we could go back together.

Minh Thu: Everyone had already left. That was about 2 in the morning.

Truc Nhu: That’s right, at that time you must have been so tired. That’s when you’re supposed to go home, brush your teeth, change clothes, to go to bed, etc., since there was only one bathroom. Even with that, Minh Thu was still waiting for me.

For Episode 3, some of the cast said that they’d thought I’d probably be eliminated in this episode. Minh Thu was crying —

Minh Thu: Like rain.

Truc Nhu: It was about that time where we started to realize there were feelings, even though we didn’t quite know how to express it. We would often talk by the beach near where we were staying. We talked about what we wanted for our futures, what kind of jobs we were interested in. Eventually feelings gradually grew until the episode where Minh Thu confessed how she felt.

Solo-ish: Would you like to see a same-sex Bachelor show in Vietnam? What do you think it will take to get to that moment?

Minh Thu: Whether we would like to see it or not isn’t what is important. What’s important is whether Vietnamese audiences would accept it. Currently, we’ve experienced some acceptance for our story in Vietnam, but the support hasn’t nearly been as open as it has been internationally. Vietnam is gradually becoming more accepting, but it will take some time to become ready for an LGBT show like that. In a few generations, this would be acceptable.

Solo-ish: What is your relationship like off the show?

Minh Thu: We’ve been together about three months and moved in together a month ago.

Truc Nhu: Our relationship is gradually growing. We’re trying to get to know each other more carefully, where we can support each other in ways where the other person may be lacking. We believe that maybe you can’t guarantee that something will last forever, but day by day we are trying to firmly build something together. We can’t just rush it like we’ve done in previous relationships. With us, right now, we value having strong communication …

Minh Thu: … and being honest to each other.

Truc Nhu: We usually go through three or four phases in love: Falling in love madly; second, we start having issues, arguments and things would keep getting worse after that; lastly, we could either overcome it and live happily, or we fail. For us, we want to take it carefully from the beginning.

Solo-ish: In the United States, “Bachelor” couples often find their relationships to be difficult once the cameras are gone. Has it been hard or easy in ways that have surprised you?

Minh Thu: It’s really after the show when you’re back to real life, that you truly start to know and understand each other. However, you’re still in the public eye, and having people care about your relationship after the show and paying attention to you, which can be troublesome. It can be hard, because everyone is going to have an opinion on your relationship. If you spend your time focusing on that — what people are thinking about you, how they see you — instead of just living your life, then it’s difficult. However, if you take the time to instead focus on yourself, what your feelings are, it gets easier.

Truc Nhu: To be honest, I don’t see many difficulties for us. If there’s any challenges, we’re able to mentally overcome it and move past it quickly.

Solo-ish: I understand this is the first same-sex relationship for both of you. Tell me what that’s been like.

Minh Thu: It’s different compared to our past relationships. For example, I think there are some general differences about how men’s minds and women’s minds function when it comes to relationships. In general, as a woman I feel like I’m very aware of everything, and am independent and can handle many things on my own. However, men typically feel a greater need to be seen as the conqueror, to play the role of the hero or the strong one in order for their feelings to develop. That’s just too many rules for me. With our current relationship, it’s much easier and clearer. I can express my feelings better, and I can just do whatever I want without trying to overthink it.

Truc Nhu: It’s like I have found my little twin sister.

Minh Thu: It’s been more comfortable. Since both of us are women, we understand each other better.

 

Read full article on WashingtonPost.com

Vietnamese students in the United States increase for 17th straight year

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According to Dtinews, the number of Vietnamese students in the United States has increased consistently for 17 straight years, according to the Institute of International Education’s (IIE) annual “Open Doors” Report.

The report for the 2017-2018 academic year (AY) shows that Vietnam remains the sixth leading country of origin for all international students in the United States, with 24,325 students, up 1,887 students since last AY 2016-17, an 8.4 percent increase. The data shows that 1,094,792 international students came to the United States in the 2017-2018 AY, a 1.5 percent increase over last year. International students now make up 5.5 percent of all higher education students in the United States, up slightly from 5.3 percent last year. Vietnamese students contribute $881,000,000 to the U.S. economy.

Of the 24,325 Vietnamese students in the United States, 69.6 percent were undergraduates, 15.2 percent were graduate level students, 8.6 percent enrolled in Optional Practical Training (OPT), and the remaining 6.6 percent were pursuing non-degree programs.

Engineering, Business and Management, and Math and Computer Science remain the top selected fields of study by international students in AY2017-18. Math and Computer Science were the fastest growing fields of study with an increase of 11.3 percent from AY 2016-17, followed by Legal Studies and Law Enforcement with an increase of 10.4 percent from AY 2016-17. The top 10 states for international students include California, New York, Texas, Massachusetts, Illinois, Pennsylvania, Florida, Ohio, Michigan, and Indiana.

The data also revealed that Vietnam is becoming a more popular destination for American students. In AY2016-17, Vietnam welcomed 1,147 students from the United States, an increase of 13.3 percent. Open Doors report is released annually during the International Education Week (IEW), a joint initiative of the U.S. Department of State and the U.S. Department of Education.

The U.S. Embassy in Hanoi is celebrating IEW 2018 with an open house and various information sessions in Hanoi, Quang Binh, and Quang Tri provinces to promote study in the United States, provide information on student visas and U.S. government scholarship opportunities, reaching approximately 400 students and teachers in person, and around 1,200 online.

The U.S Consulate General in Ho Chi Minh City is marking IEW 2018 with a series of activities in Hue and at the American Center in Ho Chi Minh City. The “American Roadtrip” at Hue University and Quoc Hoc High School is helping to advise students on U.S. exchange programs, study in the United States, student visas, and soft-skill development. At the American Center in Ho Chi Minh City, an information session on November 15 at 2:00 pm will equip students with the knowledge and skills needed to succeed on standardized tests required for university entrance. A panel discussion with senior international banking executives on November 16 at 2:00 pm will help parents navigate the financial aspects of supporting their children’s overseas education.

One dead as car hits four motorbikes in Ho Chi Minh City

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One person was killed while many others were injured after a seven-seater car slammed into multiple motorbikes on a street in District 7, Ho Chi Minh City, on Tuesday.

The accident happened at around 6:00 pm on Nguyen Huu Tho Street.

The car, whose driver apparently lost control of the vehicle, first hit a couple on a motorbike, before plowing into three other motorcyles, according to eyewitnesses.

Le Tuan Thong, 45, one of the victims, told Tuoi Tre (Youth) newspaper he was carrying his wife on their motorbike, heading from Kenh Te Bridge to Nguyen Van Linh, when the seven-seater car crashed them from behind, throwing both of them to the street.

The vehicle continued to mount the sidewalk and only came to a complete halt when it plunged into a nearby dry canal.

An unidentified man died on the spot after the accident, whereas some four others were severely injured.

Police had to block part of Nguyen Huu Tho Street and are investigating the cause of the accident.

Son Luong report on Tuoitrenews

How to port your Vietnamese phone number to another network operator

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As Vietnam is all set for the official launch of mobile number portability (MNP) on Friday this week, the communications ministry on Tuesday released instructions on how to transfer phone numbers from one carrier to another.

In the first three months from November 16, three major mobile network operators in Vietnam – Viettel, VinaPhone and MobiFone – will offer the service to post-paid subscribers to test its impact on the telecoms market.

In the first quarter of 2019, the service will be rolled out for prepaid subscribers of the three operators as well as those of Hong Kong-invested Vietnamobile.

Meanwhile, Gtel, a mobile network operator owned by Vietnam’s Ministry of Public Security, has not announced any plans to offer MNP to its subscribers.

Once the service is launched on Friday, mobile users who wish to transfer their phone number to another network can register for the switch at any office of their current operator.

The transfer fee is limited to no more than VND60,000 (US$2.60), and customers will receive a blank SIM card after paying for the service.

They must then initiate the number porting process by texting ‘YCCM’ to 1441 with their current SIM card.

A text message will be sent to the user’s mobile phone confirming the initiation. If they wish to abort the transfer at this stage, simply text ‘HUYCM’ to 1441.

To complete the process, the user can insert the blank SIM card into their mobile phone, upon which they should receive a text message announcing that the transfer has been successful.

The entire procedure should take less than 24 hours, with no more than one hour of interruption during which the phone number cannot be reached, according to a Ministry of Information and Communications official.

In reality, users should expect the interruption to last for only a few seconds in the majority of cases, the official added.

There will be no limit on the number of times a mobile user can port their number to a different network, but there is a 90-day interval between the two changes.

“We expect a surge in the number of applications for mobile number portability in the first few days of rolling out the service, but the demand will likely level out after a while,” said Pham Hong Hai, Deputy Minister of Information and Communications.

Tuan Son report on Tuoitrenews

Former Mobifone directors arrested over AVG purchase

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Mobifone’s former director and deputy director have been arrested for wrongdoings over the loss-making purchase of the Audio Visual Global JSC (AVG).

The investigation over the AVG purchase is being expanded after the Government Inspectorate’s proposal to prosecute those who are involved in the purchase was approved in July in accordance with the anti-corruption directives.

The Ministry of Public Security announced that the investigators had found evidence and arrested Cao Duy Hai, former director of Mobifone, for violating regulations on the management and use of state capital.

Pham Thi Phuong Anh, former deputy director of Mobifone, was also arrested.

In August 2016, the Government Inspectorate was asked to investigate the acquisition of AVG by Mobifone and announced that they had found many violations. Mobifone and AVG agreed to cancel the deal and refund the amount received in the VND8.89trn (USD395m) failed acquisition. The deadline was over but Mobifone had only paid 95% of the acquisition.

AVG has faced continued difficulties since it was established. In 2015, it accumulated a loss of more than VND1.6trn (USD70m), 45% of its charter capital. When proposing to buy 95% of AVG’s shares, Mobifone omitted the financial difficulties and failed to follow the bidding procedures in choosing consultants for the case.

It was concluded that Mobifone, the Ministry of Information and Communication, and related agencies had committed many violations in assessing AVG’s financial situation and choosing consultants, allegedly leading to state budget losses of VND7trn (USD308m).

On August 21, the Ministry of Information and Communication announced that Cao Duy Hai had been fired over the violations. Pham Thi Phuong Anh was reprimanded in the same months for being irresponsible by the Party Committee of the Centrally-run Businesses’ Sector.

Source: Dtinews

Crippled youth goes the extra mile to help an old man

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Finding an old man wallowing in his own filth, a young man with an amputated leg stepped in to help.
His stomach heaved and his heart broke.

Luu Nguyen could not hold back his tears as he beheld the sight before him.

It stank badly. An old man was curled up on a filthy cot. The floor was dirty with urine and feces. A piece of bread mixed with cat poop.

“I had smelt something unpleasant on the second day I got here. When I remarked on it, my teacher said it came from a lonely old man next door.”

Luu decided to call on the old man and the filth and stink that greeted him was overwhelming.

Over the next two nights, he stayed in bed, thinking about what had happened to him threes year earlier.

Personal tragedy

On September 12, 2016, when Luu, then 20, was working for a jewelery store in Ho Chi Minh City, he was hit by a 7-seater car.

“I begged the couple and their two children in that car to take me to the hospital, but they just looked at each other with fear. I begged the crowd as well, but they just looked away and avoided me. Fifteen minutes later, as I became desperate, a waiter working for a nearby restaurant took me to the hospital in a taxi. Until now, I don’t know who he was, so I can thank him.”

Badly injured, a major part of his left leg had to be amputated. Luu cried for hours in the operating room. Finally, he came to terms with his fate as his karma. After the accident, Luu went back to his hometown Binh Dinh Province, to recover.

Early this year, he started a new career as a tattoo artist. And early this month, he arrived in Vinh Yen, Vinh Phuc Province to attend a course to develop his skills, hoping to open a store in his hometown later.

And then, he ran into this old man living in his own filth. Luu could not get him out of his mind.

“I remembered leaving the operating room with no one by my side. Then I thought of my disability. If I don’t get married, I might be like him – lying in urine and feces,” said Luu, fighting back tears as he spoke.

His own disability would not allow him to help the old man on his own, but luckily, some of his female colleagues, moved by the plight described by Luu, decided to pitch in.

On the fourth of this month, Luu and his friends spent half a day to get he old man out of the house and cleaned the house and all the furniture over the next two days. He gave the old man a shower, bought him new clothes as well as blankets and pillows to prepare for the upcoming winter season.

A routine

On the morning of November 9, Luu woke up to an alarm. He’d been used to getting up later after the accident. Now he had something to do before starting classes.

Rubbing his left leg amputated below the knee, he put on his prosthetic leg, and then a shoe on one foot and a sandal on the other.

“Grandpa, have you woken up? Luu shouted. No answer. Just the noise of wild cats. He entered the old man’s house and turned on the light. The old man, body wrapped in a blanket, looked up and seemed unconcerned. A strong unpleasant smell was in the air.

“Have you just pooped on the bathroom floor? It’s getting clogged again. Please use the potty I’ve just bought for you,” Luu said, as he checked the old man’s blanket and changed his clothes. Then he cleaned the old man’s face and fed him.

Wearing a face mask and gloves, he started to clean the house. One hour later, Luu had finished his chores. He returned to the store where he’d come to learn tattooing, after spraying the house with disinfectant and offering incense to man’s dead wife. It was 9:30 am already, all the other students were present and the teacher had already called Luu four times.

Over the last 11 days in Vinh Yen, Luu has spent a week taking care of the old man. He buys and feeds him breakfast and cleans the house every morning. He also buys lunch and dinner.

Luu said, the old man can walk with a walker but has trouble in remembering things. Because of the broken toilet, he poops in the bed.

“His name is Tien and he is 87 years old. His wife passed away five years ago and they don’t have children. He has to live on government aid,” said Pham Quy Loi, head of Residential Group 11, Ngo Quyen Commune, Vinh Yen.

“He is very irritable, so his neighbors don’t want to help him anymore. Even though I help him, he swears at me sometimes. If I am lucky, he would ask me to stay for dinner or stay overnight,” said, Luu grinning.

Luu’s teacher, Hong Sen, 35, said that she first thought the young man was helping the old man to attract attention online, but her doubt turned to admiration on seeing him visit and take care of the old man at least three times a day.

“Luu said he helped the old man out of sympathy. But I told Luu, the fact that you help others does not guarantee someone will help you in the future.

“He can only rely on himself; for example, in this career, he must become outstanding, not just average,” she said.

Luu will finish his course in 20 days.

These days, many people have offered to help Tien after Luu shared his story online.

Luu does not know what the future will bring.

“He doesn’t like it, but I would like him to stay in a nursing home; otherwise, I will hire a maid to help him clean the house. I don’t know what the future will bring, but I will help him as long as I stay here.”

Source: Vnexpress

November 14: VN-Index reclaims ground

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Market better today following yesterday’s losses.

The VN-Index increased on low liquidity on November 14 as oil stocks sunk after oil prices fell overnight.

Increases were seen from the opening. Seafood and textile stocks such as VHC, MPC, FMC, CMX, TCM, TNG, TDT and GIL continued to be the focus of cash flows, with many rising strongly at the beginning of the session.

Despite the increases, money flowing into the market was quite low. By 10am, the VN-Index had increased 2.22 points (0.25 per cent) to 907.6 points but the matching value on HSX was only VND640 billion ($27.4 million).

The figure stood at only VND1.5 trillion ($64.3 million) on HSX by the end of the morning session and VND253 billion ($10.8 million) on HNX.

Liquidity weakened as sellers basically “restructured” their accounts, returning to safe stocks after a long period of market decline.

Bluechips such as FPT, MSN, VJC, PNJ and MWG, and BID, CTG and VCB rose and supported the market.

Real estate and construction also saw many gainers, such as VGC, PC1, VPI, DXG, CTD, KDH and LDG.

Meanwhile, oil and gas stocks GAS, PVS, PVD, PVB, PVC and PXS continued to see strong net selling in the context of global oil prices experiencing their strongest decline in three years overnight.

Textile stocks were not only more positive than the market overall, many also set new highs.

Yesterday, when the VN-Index shed 1.4 per cent, textile stocks such as TNG, GMC and TDT climbed to their highest price since listing.

Hai Van report on Vneconomictimes

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