Following the news that the Standard Organization of Nigeria (SON)’s official confirmation last month that a Chinese drug sold in the African country contained human flesh, the Drug Administration of Vietnam affirmed human flesh Chinese drugs are not allowed to circulate in the country.
In its document to departments of health across the country, the country’s drug administration said that Chinese drugs in the form of capsules containing human flesh are not licensed or circulated in Vietnam, in response to recent reports of a drug.
To protect people, the administration requested health departments to increase information of the drug as well as encourage people not to buy or take drugs without clear indication of origins.
When discovering unoriginal drugs, people should report to relevant authorities of any discovery of drugs advertised to contain human flesh in Vietnam, the health watchdog said.
Customs agencies, market management board, police in localities liaise to detect drugs and issue penalties to violators according to the present regulations.
The National Intelligence Agency of Nigeria has lately verified that the drugs are filled with powdered human flesh. The manufacturers claim that the capsules can boost stamina, cure cancer, diabetes and some other terminal diseases.
By NGUYEN QUOC – Translated by UYEN PHUONG
Read full article on SGGP
Rising Sales of Combine Harvesters and Tractor Implements will surge the Growth of Agricultural Equipments Market in Vietnam: Ken Research
• The 2025 projection for GDP of Vietnam is estimated to be USD 413.5 billion while the GDP (PPP) of the country is expected to reach USD 1,209.4 billion
• The future estimates indicate the contribution of the agriculture sector to decline in 2016 to 17.9% and by 2020; the sector is estimated to contribute 18.7% to overall GDP
• The revenues from the overall agriculture equipments market increased at a CAGR of over 6% from 2010 to 2015.
• Changes in labour force pattern, improving credit environment, government support for agricultural mechanization and a strong replacement demand are expected to drive the growth of agricultural equipments in Vietnam
Ken Research announced its latest publication on “Vietnam Agricultural Mechanization Market Outlook to 2020 – Government Initiatives to Increase Mechanization and Enhancing Credit Availability to Drive Future Growth” provides a comprehensive analysis of the agricultural machinery market in Vietnam. The report covers aspects such as the market size on the basis of sales volume and revenue for Tractors, Combine Harvesters, Rice Transplanters and Tractor Implements. The segmentation for Tractors, Combine Harvesters and Rice Transplanters has been created on the basis of Horsepower while the segmentation for Tractor Implements has been showcased by products. The report also covers the market share, competitive landscape and working business model of major manufacturers, along with warranty policies and distribution channels of agricultural equipments. In addition to this, the report also covers the country overview, government regulation and agricultural overview of Vietnam. GDP, Per Capita Income and Population Demographics are analyzed in country overview. Land under cultivation, Changes in cropping patterns, farm holding structure and scale of mechanization are covered in agricultural overview. Regulatory policies, the import duty structure, certification and emission standard, subsidies and financing options are covered in government regulation. This report will help industry consultants, agricultural machinery manufacturers and dealers, retail chains, potential entrants and other stakeholders to align their market centric strategies according to the ongoing and expected trends in the future.
“According to Research Analyst at Ken Research, many leading players in the market are importing products from other Asian countries such as China and Japan as import tariff has been reduced to 0%. These players should focus on manufacturing the products locally as the scenario of domestic manufacturing of agricultural machinery is poor in Vietnam. Additionally, since imports are not controlled, it leads to unfair competition between the domestic and foreign manufacturers. The government should provide more support to local manufacturers in order to enhance domestic production of agricultural machinery in the country.
Amplifying sales of tractors along with implements, combine harvesters and rice transplanters have propelled the market for agricultural machinery in Vietnam over the period 2010-0215. Two wheel tractors or power tillers are well preferred in the north owing to smaller average farm size compared to the south. Rotavators are extremely popular in Vietnam due to the hard clay soil of Mekong river Delta. Majority of people in the country purchase implements along with the tractor.
Mechanization levels in Vietnam have surged over the period 2010-2015. Increasing number of farmers/cooperatives in the country has been purchasing agricultural tractors over the period 2010-2015. Agricultural market in Vietnam has been fragmented with product differentiation into multiple of models with different horse powers. Use of tractors 14.5 HP or below has declined over the period 2010-2015 while use of larger tractors has increased during this period.
Key Topics Covered in the Report:
Country Overview
-Gross Domestic Product (GDP) of Vietnam
-Key Factors Driving Growth in GDP
-Contribution to GDP: Agriculture, Manufacturing and Service Sector
-Population Demographics
• Rural to Urban Population
• Agriculture and Non-Agriculture Population
-GDP Per Capita of Vietnam
-Logistics Cost
Agricultural Overview
-Total Land under Cultivation
-Distribution by Major Crops – Rice, Sugarcane, Cassava and Rubber
-Changing Cropping Patterns in Vietnam and Factors Driving Change
-Farm Holding Structure in Vietnam
• Number of Farms and Farm Holding Size
• Nature of Ownership
-Regulatory Policies Impacting Farm Holding Structure
-Agricultural Practices
• Extensive and Intensive Farming
• Scale of Mechanization
-Irrigated and Non-Irrigated Land
Government Policy Impacting the Agricultural Equipment Market
-Regulatory
• Domestic Vs Importer
• Farmer
• National Economic and Social Development Plan
-Import Duty Structure
• Agricultural Tractors
• Rice Transplanter
• Combine Harvesters
• Tractor Implements
-Certification
• Emission Standards
-Subsidies
-Government Taxes
-Finance Options
• Manufacturer Supported Finance
• Private Finance
Market for Tractor and Agricultural Implements
-Vietnam Agricultural Equipment Market
-Tractor Market
-Rice Transplanter Market
-Combine Harvester Market
-Tractor Implements Market
-Key Factors Driving Growth of Agricultural Equipment Market
-Market Share and Competitive Landscape of Leading Manufacturers in Vietnam Agricultural Equipments Market
-Competitive Landscape of Leading Manufacturers in Vietnam Agricultural Equipments Market
-Price Range for Agricultural Equipments
• Retail Customer Price and Dealer Price
– Geographical Distribution of Category Wise Sale of Tractors and Combine Harvesters
– Business Model of Major OEM’s in Vietnam Agriculture Equipment Market
-Rental and Custom Hiring Market
– Region Wise OEM Distribution Channel Points
– Tractor and Implements Channel Strategies
– After Sales Warranty And Support Policies
– Export-Import of Agricultural Equipments in Vietnam
Customer Insight
– Decision Making Process for Procurement of Agricultural Equipments
– Usage Pattern for Major Agricultural Equipments in Vietnam
Analyst Recommendations
Key Products Mentioned in the Report:
Tractors
Combine Harvesters
Rice Transplanters
Tractor Implements
Rotavators
Disc Plough
Disc Harrow
Fertilizer Spreaders
Companies Covered in the Report
Kubota Vietnam
Yanmar Vietnam
VEAM
Vikyno and Vinappro (SVEAM)
Phan Tan Agricultural Machinery Company Ltd
Bangladeshi artist Morshed Mishu decided to redraw the heartbreaking photographs from all around the globe in order to illustrate how the world would look without violence.
These artworks give us a second thought on how beautiful the world would be, only if we could consider this!
Having its origin from China, Singles’ Day are starting to become the biggest sales period for ecommerce in Vietnam.
A new analysis conducted by online shopping aggregator iPrice reveals an exponential growth of interest in the Singles’ Day sales from Vietnamese consumers this year. By analysing Vietnamese’s search trends on Google, the report detected that interest on the keyword “11.11” began growing steadily on 29th October 2018, nearly two weeks prior to the date itself.
Comparing it to the same period last year also reveals that search interest has increased by 3 times.
iPrice concluded that such a growth in interest shows Vietnamese consumers are now much more familiar with the 11.11 tradition and excitedly look forward to it as an important promotion period of the year.
The same report also goes into comparing the different promotion types offered by big merchants in Vietnam.
The types available identified by iPrice were product discounts, vouchers, flash deals, payment method promotions, free shipping promotions, in-app games, web-based games, and TV game show.
As demonstrated in the comparison chart, merchants in Vietnam are paying more attention to interacting and entertaining their customers rather than just attracting them with discounts. Four out of the five merchants included are organizing some forms of interactive activities.
Thegioididong, who only organized a simple sales campaign for last year 11.11 day, now has a game on their website for their customers.
The most impressive campaign this year however is perhaps Shopee’s upcoming live interactive TV show. The show is expected to feature some of the most popular musical guests in the country as well as a chance for customers to earn discounts by using the merchant’s mobile app during the airtime, a tactic that was applied with huge success by Alibaba in China.
Besides those two, Lazada and Tiki are also focusing on promoting interactive activities on their mobile apps.
According to another research conducted in 2017, even though more Vietnamese consumers tend to surf the ecommerce websites using mobile, only 4 out of 10 end up making purchases on mobile, while the rest will do it on PC. This statistic helps explain why merchants are eager to push for more purchases on mobile.
Regular expenses are too high and many expenditure items are unnecessary: these are comments regularly seen in reports about the state budget.
“There are many overlapping expenditure items. The state budget disburses money for many unnecessary items, which leads to a sharp increase in regular expenses. It’s more than the state budget can bear,” said Le Dang Doanh, an economist.
Doanh said, for example, on the same flight from Hanoi to HCM City, a Vietnamese deputy minister sat in a business class seat, while the leaders of the World Bank, IMF and the ambassadors of the countries that lend money to Vietnam were in economy class seats.
“I was also a passenger on the flight and I flew economy,” Doanh said. “So you can see, developed countries which provide loans to Vietnam practice thrift, while Vietnam, a developing country which is thirsty for capital, doesn’t think of saving money.”
According to Doanh, the laws of other countries set strict regulations about the treatment of officials on business trips.
When officials take long-distance flights which take 5-8 hours, they can book business-class tickets. For short-distance flights, from Hanoi to HCM City, for instance, which takes one hour and 40 minutes, economy class would be reasonable.
The regulations are different in Vietnam. The treatment of officials depends on their positions, not on the distance of flights or importance of the duties. Do Anh said this is an item that Vietnam can cut to save money.
A state official in Hanoi explained that current regulations clearly stipulate the types of cars high-ranking civil servants can use. Higher ranking officials can use more luxurious cars, and the cars allocated to officials now are more expensive than previously, worth billions of dong.
The official agreed with Doanh that the state’s money is being wasted. “Many high-ranking officials only fly business class, and many officials spend state money on their private trips,” he said.
He said that now is the right time to think of reforming state budget management and cut unnecessary expense items.
A report found that regular expenses have decreased in recent years which now account for 63 percent of total expenses instead of 70 percent as seen previously. However, Doanh believes that 63 percent is still a high figure.
The Ministry of Finance, which is drafting the state budget for 2019, estimates that overexpenditures 2019 will be 3.6 percent of GDP, or 0.1 percent lower than 2018.
The nation’s foreign debt is near the ceiling of 50 percent of GDP.
More than 56 percent of banks recruited new workers in Q3, but 26.6 percent said they still lacked workers, while more than 61 percent of banks planned to recruit more workers in the fourth quarter, a report says.
Vietnam will need 1.6 million new workers for the banking sector in the 2016-2020 period, according to the International Labor Organization (ILO). It is expected that the banking sector would have 300,000 workers by 2020.
Though the number of workers newly recruited in Q3 was 46 percent higher than the quarter before, banks still lack workers for current operations.
For many years, the banking sector has been struggling with a personnel problem: it has unqualified workers in abundance and lacks high-quality ones.
The problem will become even more serious in the 4.0 industry era. Banks will have difficulties re-training their workforce to satisfy the requirements in new circumstances.
Vietnam’s credit institutions have also been warned that they will face a brain drain, i.e. qualified workers will leave for foreign institutions which offer higher wages and job promotions.
As for future jobs in the banking sector, an expert said the number of officers at transaction points and bank branches will be cut, while the demand for high-quality workers will be increasing.
Bank officers will have to be good at both financial operations and information technology.
A high-quality workforce is a big challenge not only for the banking sector, but also for other industries, since robots will undertake works now implemented by humans.
As AI becomes better, banks will be able to utilize AI in risk portfolio management, client and database management. Capable of adapting, AI for apps is unlimited.
“Modern AI-integrated robots will not only be able to replace humans in doing simple manual works, but also make interactions with clients,” said Pham Anh Tuan, a member of Vietcombank’s board of management.
Labor experts have expressed concern about Vietnam’s slow preparation in human resources for the new industrial revolution.
While other regional economies such as South Korea and Taiwan have moved forward to prepare a high-quality workforce, and universities in the US have begun teaching AI and machine learning in MBA training courses, Vietnam is still at the starting point.
The report released by the Forecast and Statistics Department under the State Bank of Vietnam in July showed that 30 percent of credit institutions said they were lacking workers, and 70 percent planned to enlarge their workforce, while the remaining 30 percent would retain or reduce the workforce compared with the number in late 2017.
Ceremonies held in HCMC and Hanoi on to mark milestone.
ANZ held ceremonies in Ho Chi Minh City on November 7 and in Hanoi on November 8 to mark its 25 years of operating in Vietnam.
Mr. Farhan Faruqui, ANZ Group Executive, International, said that Vietnam is a true Asian success story, emerging from an agriculture-based economy to become one of the region’s fastest-growing economies and most attractive FDI destinations and a major manufacturing hub. “ANZ is proud to be a part of its growth story over the years,” he said.
Mr. Faruqui added that ANZ has an ambition to be the best bank in the world that helps customers move goods and capital around. “At this pivotal juncture, where Vietnam is thriving economically, with our regional network being a key differentiator, ANZ is well-positioned at the center of trade and investment flows connecting Asia, Australia, and the rest of the world for our institutional customers,” he commented.
Ms. Jodi West, ANZ CEO, Vietnam, also noted that ANZ Vietnam wouldn’t have thrived over the last 25 years without the continued support from and partnerships with its clients and the contributions of its staff, many of whom have been with ANZ since its very first days in Vietnam. “I want to take this opportunity to sincerely thank them,” she said.
As one of the first foreign banks to arrive in the country, ANZ started as a branch in Hanoi in 1993. It was then granted a banking license to locally incorporate and now has a presence in both Hanoi and Ho Chi Minh City.
Today, ANZ offers a full suite of banking services to large corporates (covering multinational corporates, large local corporates, and Australia / New Zealand home market clients), and financial institutions.
Its award-winning FX, Trade and Cash Management Platforms and its international network make it easier and more efficient for clients to operate in multiple countries.
As the hub in the Greater Mekong Region (GMR), which includes Vietnam, Thailand, Cambodia, Myanmar and Laos, ANZ Vietnam plays a pivotal role in the bank’s wider strategy, connecting customers with each other and with markets across the region.
Late morning and afternoon trade were quite negative on November 9, with continued declines in regional markets significantly affecting investor sentiment and resulting in strong selling pressure.
At the close of trade, the VN-Index had lost 11.99 points (1.29 per cent) to 914.29 points, the HNX-Index 1.53 points (1.46 per cent) to 103.01 points, and the UPCoM-Index 0.46 points (0.89 per cent) to 51.55 points.
Liquidity was still low, however, with a total matching value of over VND3.3 trillion ($141.6 million), with investors unwilling to buy and raise prices.
The number of losers across the market totaled 322 stocks, against 179 that increased.
Foreign investors were net buyers by VND150 billion ($6.4 million) overall; their fifth day of net buying in a row.
GAS, PVS, PVD and PVB as well as banking stocks ACB, BID, CTG, MBB, HCM, VCB and VCI were under selling pressure. Conversely, VHM and BVH did quite well and stemmed the tide.
Negativity appeared at the end of the morning session. Asian stock markets such as Japan, China, Hong Kong and South Korea all fell sharply, with local investors taking note.
The VN-Index lost 6.91 points (0.75 per cent) to 919.37 points in the morning session, the HNX-Index 0.85 points (0.81 per cent) to 103.69 points, and the UPCoM-Index 0.21 points (0.41 per cent) to 51.79 points. Market liquidity was low, with a matching order value of VND1.6 trillion ($68.6 million).
The Tien Phong Commercial Joint Stock Bank (TPBank) has become the first bank in Vietnam to allow cardless cash withdrawals using a QR Code at both its ATMs and Livebank service, according to a report from the Vietnam News Agency.
The news agency quoted the bank as announcing recently that it had completed an update allowing cash withdrawals by QR Code. To use the function, customers need to download QuickPay for iPhone or Android phones, then connect their bank account to QuickPay.
The bank said cash withdrawals by QR Code provide safety, speed and convenience to customers.
In addition to cash withdrawals, the bank’s QR Code can also be used for payments at thousands of shops or vending machines nationwide.
TPBank was also one of the first banks in the country to complete the issuance of domestic chip cards with integrated contactless payment features based on the domestic chip standard of the State Bank of Vietnam (SBV).
This increases security, as Vietnam has become a focal point of data theft because most domestic cards in the country are magnetic cards that can be copied easily, the news agency noted.
Moody’s Investors Service (Moody’s) has changed its 12-18 month outlook on the banking system in Vietnam (Ba3 stable) to stable from positive.
Eugene Tarzimanov, a Moody’s Vice President and Senior Credit Officer said that, the growth of economic in Vietnam will remain robust, and the banks’ asset quality will improve, helping to strengthen their profitability.
But asset risks are still evident after years of rapid credit growth, and negative spillovers from the escalating trade tensions between the US and China will see Vietnam vulnerable to slower trade growth, says Rebaca Tan, a Moody’s Analyst.
Moody’s conclusions are contained in its just-released report on Vietnamese banks titled Banking System Outlook – Vietnam:
Economic growth and improving asset quality support stable outlook, and is co-authored by Tarzimanov and Tan.
The stable outlook is based on Moody’s assessment of six drivers: operating environment (stable); asset risk (improving), capital (stable); funding and liquidity (stable); profitability and efficiency (improving); and government support (stable).
With the operating environment, Moody’s says that strong economic growth in Vietnam will support the banks’ operating environment.
Moody’s expects Vietnam’s real GDP growth to remain one of the strongest in ASEAN, at 6.7% in 2018 and 6.5% in 2019, driven by improved economic competitiveness, exports and domestic consumption. Domestic credit growth will moderate to about 16% in 2018 from 20% in 2017, as the Vietnamese government seeks to control inflation in the country to less than 4%.
On asset quality, Moody’s says that Vietnamese banks will show improved asset quality over the next 12-18 months, because strong economic growth will translate into improvements in borrower repayment capabilities and enable the banks to accelerate the write-offs of legacy problem assets.
However, rapid credit growth in recent years can result in a deterioration of asset quality as new loans mature, although this situation is unlikely to occur during Moody’s outlook period of the next 12-18 months.
The banks’ capitalization will prove broadly stable. A moderation in asset growth will ease pressure on the banks’ capitalization, while internal capital generation will continue to improve, along with profitability at most rated banks.
Funding will stay stable as loan growth slows. In particular, Moody’s points out that the banks’ deposit growth has been strong, reducing their reliance on market-sensitive funding sources, such as interbank borrowings. As loan growth moderates to the pace of deposit expansion, the banks’ loan-to-deposit ratios will remain largely stable.
As for profitability, the banks will show better profitability because interest margins will continue to improve, as the banks boost loans in the higher-yielding retail and small and medium-sized enterprise segments. At the same time, credit costs will decline, as more banks resolve their legacy problem assets.
With government support, Moody’s says that the Vietnamese government will continue to support the country’s banks when needed, mainly in the form of liquidity assistance and forbearance from the central bank.
Moody’s rates 16 banks in Vietnam, which together accounted for 61% of total banking system assets at the end of 2017.
Three of the 16 banks JSC Bank for Investment and Development of Vietnam (BIDV, B1 stable, b2), JSC Bank for Foreign Trade of Vietnam (Vietcombank, B1 stable, ba3) and Vietnam JSC Bank for Industry and Trade (Vietinbank, B1 stable, b1); are controlled by the government, while the other 13 are privately owned joint-stock commercial banks.
We have recently seen and heard the deaths of victims of traffic accidents, including accidents. In the framework of the book, we only make recommendations on the liability of the direct cause of the crash. However, liability is not fully covered by the 2005 Civil Code. An unspoken fact remains, and although drivers are unconfirmed, it is presumed to be deadly. There is no need to compensate as much as to nourish the injured and support the children and their loved ones for the rest of their lives.
The author eager would like to express to the lawmakers quickly amended these provisions and quickly introduced heavier penalties and higher liability, as well as ongoing liability for victims and victims’ families. Under the guidance of Resolution No. 03 of the Superior Judges’ Council Resolution No. 03 of 2006, this includes reasonable monthly expenses for the care and treatment of victims and reasonable expenses for regular persons, caring for the victims.
As such, the Superior Judge’s Council also recognizes the liability for damages that sometimes exceeds even the loss of life. Compensation for the victim is sometimes much lower than for the disabled.
Of course, when actions lead to human death, we also need to consider many factors as unintentional or willful, mental, psychological… But as analyzed, human life is priceless. And this invaluable reminder always reminds us that any inattention is worth the price, sometimes with our own lives.
It should also be said that our law does not specify punitive damage. In the common law system in developed countries, the responsibility for compensation for mental losses is enormous. The value of these compensation cases usually amounts to tens of millions of dollars. The punishment of such laws can deter people and punish criminal acts. Unfortunately, in our country, the law only stopped only at hundred million of VND, a number too modest compared to a human life.
Liberty wants to expand Formula One to ‘destination cities’ but it will need to win over teams who want a reduced season
The Vietnam and Formula One might not be the most likely of bedfellows. Yet confirmation that the country’s first grand prix will take place on the streets of Hanoi in 2020 is of little surprise given F1’s global expansion over the past two decades. Giles Richards reported on The Guardian
F1’s owner, Liberty Media, wants new markets to expand their fanbase. Vietnam, like so many other modern F1 venues, is angling for the prestige and worldwide audience that influences investment and tourism long after the chequered flag is waved. It is a simple equation then, but one at which Liberty at least is going to have to really work.
Hanoi will host the inaugural Vietnamese Grand Prix on a 3.458-mile street circuit designed by Herman Tilke’s company, located 12km west of the city centre near the My Dinh National Stadium. It is being backed not by the state but by one of the country’s biggest private businesses, the Vingroup.
The track design is intriguing, combining elements of other circuits including the Nürburgring, Monaco, Suzuka and Sepang. It has been a collaborative process with the F1 motorsport team, headed by Ross Brawn, also involved – an indication that spectacle and the ability to race has been at the heart of the process.
For Liberty, it is the first new circuit they have brought to the calendar since they took over the sport in 2017 and it is unlikely to be a coincidence that it has been announced a week before they reveal their latest financial statements and plans to investors. With the deal done their task is to ensure it is successful and perhaps the first issue they face is just where Hanoi fits in F1’s future.
This season there are 21 races, a number F1 has hosted only once before. Liberty’s aim is to expand the sport – particularly in what they call “destination cities” – and Hanoi fits the bill perfectly, as does Miami, where they are still hoping to stage a race. Las Vegas, Johannesburg’s Kyalami circuit and both Zandvoort and Assen in the Netherlands have also been mooted as potential venues, meaning that if the calendar remains the same there will be 22 races in 2020 and maybe 23 or more thereafter.
A ceremony in Hanoi to announce that the Vietnamese capital will host an F1 race for the first time in 2020. Photograph: Nhac Nguyen/AFP/Getty Images
This is a potential expansion that has been met with almost universal disapproval from the teams. The Red Bull team principal Christian Horner described 21 races as the saturation point. “There’s only so many chapters you can have in a book and I think at some point you go beyond what’s relevant,” he said.
Renault’s managing director Cyril Abiteboul has gone even further, arguing that the calendar should be cut to between 15 and 18 races in order to maintain a sense of occasion. “I appreciate the reason why, commercially we need to grow the calendar, but as far as I’m concerned, I would be for a massive contraction of the sport,” he said.
Liberty will clearly face a struggle to continue adding races in the face of this level of opposition. Yet, as Abiteboul noted, they have a commercial imperative to do so. Race fees are a major source of income to the sport and the owners have been under pressure to lower the costs, especially at European circuits. Spa recently did a deal with a reduced fee and both Silverstone and Monza are attempting to do the same. New venues can alleviate that but fitting Vietnam and potentially others into the schedule will be a far from easy task.
In the long term, and the deal in Vietnam is described as “multi-year”, the new race will perhaps be the greatest indicator yet of just how differently Liberty will operate from Bernie Ecclestone. Under the latter, a remarkable range of venues that had never hosted F1 before were added, including, among others, China, Baku, Abu Dhabi, South Korea, Turkey, India and Singapore. Once the race fees were rolling in, however, Formula One management’s interest diminished.
With no history of competing in or following motorsport, many managed little more than hosting their annual weekend in the sun before disappearing. India lasted three years, South Korea four, Turkey, despite a layout much admired by drivers, seven. At Mokpo in South Korea the vast swathes of empty grandstands sat in judgement on a sport that was entirely failing to make any impression on the country and the track was locked and empty for 51 weeks a year.
This will not work for Liberty, whose aim is to grow revenues by increasing fans, with one of their major revenue streams expected to be earned from pay-to-view streaming. Vietnam is just the sort of market into which they want to sell their service so they have to make sure it does more than simply host a race. Hanoi will be the test of whether they can sway the hearts and minds of the Vietnamese people too.
Truong Quang Hoai Nam, deputy chairman of Can Tho city People’s Committee, yesterday afternoon answered press queries about the decision to return 20 diamonds and 19,910 artificial stones to Thao Luc Jewelry Shop in one hundred dollar exchange case.
According to Mr. Nam, while searching the jewelry shop, authorized agencies spotted diamond sale tracking book of Thao Luc Company. From June 1, 2013 to January 30, 2018, Thao Luc sold diamonds worth VND3.3 billion to 30 customers.
In the initial testimony with authorized agencies, Mr. Luc who is owner of the shop, admitted that the shop has the tracking book. Still afterward he changed the statement saying that he sold diamonds to only 11 customers with the total money of VND700 million.
From the statement, Can Tho city took part in investigation and had good reason to affirm that Thao Luc Company did trade diamonds.
Twenty temporarily seized diamonds were found kept in the ground floor of the shop, where is the company’s headquarters without private room of Mr. Luc and his wife.
Explaining the origin of the seized diamonds, Mr. Luc in his initial statement said that the company did outwork and showed five outsourcing orders.
However when the city Police talked to those who signed in the orders, they all denied outsourcing relations with Thao Luc Company. In other meetings with authorized agencies afterwards, Mr. Luc said that the diamonds were purchased without invoices or origin certificates.
In addition, authorized agencies seized 19,910 artificial stones put in the same cupboard where the diamonds were kept. Mr. Luc said that he bought the stones from Hoa Binh market, HCMC without invoices and origin certificates.
From the above working process, Can Tho Police consulted the city People’s Committee on making a decision to penalize the shop for trading unclear origin goods.
After the committee issued the penalty decision, Mr. Luc sent an application to authorized agencies. In the application, he said that the diamonds and artificial stones are assets which he accumulated for many years. They are not for trading so he does not care about invoices.
After verification, authorized agencies found that the business address of Thao Luc Company is also the accommodations of Mr. Luc’s family. So he can storage his private property in the shop.
Finding that a new circumstance able to change to the decision’s content, Can Tho People’s Committee decided to cancel part of the issued penalty decision as per Article 1, Decree 97 and return 20 diamonds ad 19,910 artificial stones to Thao Luc Company.
Vietnamese people spent up to USD4bn on beer in 2017 alone, according to a workshop on November 8 held by the Ministry of Health.
The numbers were announced by Nguyen Huy Quang from the Ministry of Health at a workshop on Vietnam’s international commitments related to the draft law on alcohol harm prevention and the recommendations of non-governmental organisations.
The beer consumption per capita, aged 15 years old and over, increased from 3.8 litres during the 2003-2005 period to 8.3 litres in 2016. Vietnam was the world’s 64th biggest beer-drinking country, 2nd in Southeast Asia and 3rd in Asia, after Japan and China. The beer output increased from 2.8 billion litres in 2012 to over 4 billion litres in 2017.
“Vietnamese are spending USD4bn on beer last year, about 7% of the state revenue,” Quang said.
Quang said beer addiction can cause a huge financial burden on average families besides health issues and is one of the causes of poverty. He admitted that they had faced various pressures while drafting the law on alcohol harm prevention from both public health and economic problems.
“Alcoholic beverage companies contribute VND50trn to the local economy. However, the state also has to spend VND65trn on dealing with the consequences,” he said.
Reports from the Cancer Research Institute show that alcoholic beverage is the main cause of 6 common cancers whose direct and indirect cost reach up to nearly VND26trn. They also warned about other consequences such as domestic violence and social disorder.
The NA Committee on Social Affairs agreed that the authorities must tighten control over advertisements to limit access to the alcoholic beverage.
Vietnam got off to a winning start at the AFF Suzuki Cup 2018 in comfortable fashion as they defeated Laos 3-0 at the New Laos National Stadium on Thursday evening.
It took the Vietnamese just 11 minutes to open their account when a left-wing cross by Doan Van Hau found Nguyen Anh Duc before the ball eventually broke to Nguyen Cong Phuong, who made no mistake in dispatching a first-time effort past Saymanolinh Paseuth.
According to a report by Gabriel Tan on Fox Sports Asia, the visitors then doubled their advantage just before halftime when Anh Duc converted on the rebound, after a speculative effort from the edge of the box by Luong Xuan Truong had been tipped onto the bar by Saymanolinh.
And, eight minutes after the hour mark, Nguyen Quang Hai made sure of the victory when he lined up a freekick on the edge of the area, and proceeded to bend a lovely effort around the wall and into the bottom corner.
The victory sees Vietnam go top of Group A following the opening round of matches and they will now have the break of not playing on Match Day 2, before resuming their campaign on November 16 with a home game against Malaysia.
VIETNAM: Dang Van Lam, Do Duy Manh, Tran Dinh Trong, Que Ngoc Hai, Nguyen Trong Hoang, Luong Xuan Truong, Nguyen Quang Hai, Doan Van Hau (Phan Van Duc 46’), Nguyen Van Quyet (Do Hung Dung 63’), Nguyen Cong Phuong, Nguyen Anh Duc (Nguyen Tien Linh 71’).
