Vietnam’s breast cancer warriors bare their breasts

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Breast cancer survivors, patients and relatives of those who have died are taking the fight forward by sharing powerful stories.
With her shaven head, Tien Nguyen looks like a young cancer patient.

She’s not.

She’s the sister of a breast cancer patient who died, and now, a sister in the sisterhood that is helping fight the dreaded, deadly disease by sharing their stories and offering both material and psychological support.

In a soft but firm voice, she tells her story, and that of her late sister, Thuong Sobey.

“My sister was diagnosed with BRCA1 and BRCA2 tumor suppressor genes in October 2012, a few days after her wedding day, and later, stage 4 breast cancer,” she said.

Mutations in tumor suppressor genes like the BRCA are considered “high penetrance” as they often result in cancer, though the majority of cancers are not caused by this mutation.

“When Thuong fell ill, newspaper and books I found didn’t have enough information about the disease. I couldn’t find people like me who have family members suffering from this cancer either, so I felt deeply lost.”

Thuong Sobey was married to an Australian man and family support from all sides took her to her husband’s hometown for surgery.

“Not only were patients aided by psychologists and caretakers at the hospital, we as family members were cared for by these staff as well. They even gave us documents to read about breast cancer.

“That was 2013, and Vietnam didn’t have this kind of holistic service,” Tien told VnExpress International.

So the sisters decided to do something about it when they returned from Australia to Vietnam.

There was not much information available online in Vietnamese and relevant knowledge in Vietnamese in print was also too generic in 2012.

The two sisters decided to kickstart a revolution of knowledge about breast cancer in Vietnam.

Founded in March 2013, the Breast Cancer Network Vietnam is a member of the Union for International Cancer Control, which works to increase early detection of breast cancer and to improve the quality of life for women diagnosed with the disease.

“My sister and I started with a website where we uploaded translated information about the illness that we’d got from Australia. We also created a platform on the website where patients of breast cancer and people whose family members are breast cancer patients could get together and support one another.”

Tien did not find doing this easy or rewarding, initially.

Absorbing negativity

“When you work with sick people, it is very easy to take in their negative energy, especially if you are not trained. It’s almost like a give-take game, helpers provide positive energy, patients negative energy.

“While the latter improve thanks to the positivity the former bring, the helpers can easily fall into depression if they don’t know how to deal with the negativity, which was my problem and one of the reasons I tried to quit doing this.”

She quit, and then returned. Today, the co-founder and CEO of Breast Cancer Network Vietnam (BCNV) is a successful activist.

Having come through personal and institutional ups and downs, the network is now a hub of 300-400 breast cancer patients and 5,000 volunteers.

Invaluable support

Tu, a member of BCNV, was diagnosed with stage 3 malignant tumor last April.

She joined the network a couple months ago and appreciates the physical and mental benefits the organization’s activities have given her.

“I came to know about the network through other patient friends. I’ve attended events where doctors share information about cancerous tumors as well as zumba and yoga classes.”

Tu said that most breast cancer patients are closed up and feel low about themselves, so communities like Breast Cancer Network Vietnam and Salt Cancer Initiatives, which she is also a part of, allow them to come out of their illness shells and mingle with others.

Unlike most other women with breast cancer, Tu is a single mother.

Her 10-year-old daughter has been unnerved by the news. The girl had always hated and demonized cancer, having seen several movies where cancer patients are haggard and downcast.

“I didn’t want to hide my illness from my daughter. I wanted her to know what is going on, so she can take care of herself and be more independent,” Tu said.

Because her daughter is worried that Tu would end up like the cancer patients on screen, Tu tries her best to maintain a positive image, depsite several chemotherapy sessions wreaking havoc on her body.

Her daughter has since ceased to be a child, taking caring of Tu.

Hiding and revealing

In contrast to Tu, Mai, another member of BCNV, decided to keep her illness a secret from her daughters, both studying in the U.S. In fact, she learnt of her diagnosis the very day her younger daughter left for the U.S.

Mai, who already had one breast removed, was diagnosed with stage 3 with a malignant 1.5 mm tumor under her right breast in 2015.

When she was hospitalized and could not video-call her daughters, her husband made up stories about Mai going on philanthropy trips.

“My younger daughter would lightly chide me for leaving my husband at home. All my hair fell out because of the chemo, so sometimes when I did talk to her on the phone, I wore wigs.”

At exactly the time she yearned most for her daughters’ hugs and affection, she gave higher priority to their peace of mind.

“One day, my younger daughter, a chemistry student, called me from the U.S., and told me about wanting to do a case study for her research and asked me if I knew any cancer patient who could participate.”

Mai broke down.

Both her daughters were in the same room at that point and it became a emotional watershed moment for all of them.

Mai is grateful that she found BCNV three years ago in her search for information about the disease.

“My right arm hurt like crazy because of the tumor and other things. Thanks to the family (network) members who have gone through this before, I learnt more on how to deal with it,” Mai told VnExpress International.

She also cautioned about the sensitivity and consideration for other patients when sharing one’s own stories.

“I’m lucky to have my husband take care of me and blessed to have knowledge about this disease, but others are not as fortunate. I know of a younger woman whose husband left her a while after she got breast cancer, because he didn’t have the patience and his interest in his wife wore off.

“So I’m always vigilant when sharing my experience and advice with other patients.”

Show you care, donate your hair

To help women deal with the loss of hair as a result of chemotherapy, an event that can be traumatic, given the vulnerable context, BCNV has worked hard to provide wigs that boost both looks and morale.

“We built the wig library in 2013 and gifted the wigs to our members on a first-come, first-serve basis. But they were made of synthetic hair, which is super hot to wear. The hair gets curled up, deteriorates after a while, and cannot be used by a another person,” Tien said.

BCNV switched to real hair wigs in 2015, and began scouting for real hair sources. The production of human hair wigs is a time-consuming and costly process.

Instead of giving away the wigs only to members, BCNV began delivering wigs to different hospitals in Hanoi and Ho Chi Minh City. Patients without hair can borrow them and once their hair grows back, pass them onto the next patient in need of a confidence boost. This wig library model has cultivated a culture of sharing among breast cancer patients in Hanoi and HCMC hospitals.

BCNV aims to employ the same model in Nghe An Province, seven hours south of Hanoi, with 50 sets of human hair wigs.

BCNV’s “sharing is caring” culture was evident at the Pink Hat Day 2018 event held in District 7, HCMC, on October 28. The event, which aims to support breast cancer awareness, uses the Vietnamese traditional cone hat as its symbol and sets itself apart from the iconic pink ribbon of breast cancer awareness the world knows.

This year, the event included a booth for hair donation. It attracted a four-year-old hair donor, An Nhien.

Nhu Luong, An Nhien’s mother, said it was her idea to donate her daughter’s hair. But she asked for her daughter’s permission more than a year ago and received her consent.

“She likes to share and help other people. Whenever she has food, she shares it with people around her,” Nhien’s mother said.

When asked if she was scared to have her hair cut, Nhien shook her head. “I’m donating to help sick people who can’t grow their own hair. I’m going to have my hair just like my mom after I donate,” the girl said as her mother and volunteers surrounding her beamed in delight.

A total of 150 people came and gave their hair for charity at the festival, and along with donations from other organizations, 230 hair sets were collected. More than a thousand people attended the event.

Collective effort

It takes more than one organization or person to alert women about this illness that can prove fatal, and inform them how crucial it is to prevent it by having an early screening.

The government has invested more than half a million dollars on a mobile van to provide free mammograms for women across the country.

The campaign, “Breast cancer screening at 40” is coordinated by the Ministry of Health, Bright Tomorrow Fund and Hanoi’s K Hospital. In the October 13-November 3 campaign, it is expected that 8,000 women in the two big cities Hanoi and Ho Chi Minh and nine provinces in the north and central regions will be screened free of charge.

Nguyen Viet Tien, Deputy Minister of Health, said breast cancer can be cured if detected early – the sooner the detection, the easier, cheaper, and more effective the treatment. However, many women in Vietnam do not undergo breast cancer screening due to psychological apprehensions, leading to many cases where the disease has already reached a late stage and treatment becomes more costly and has less chance of succeeding.

Breast cancer also affects men and BCNV’s Pink Hat Day festival also encouraged males to register at its breast screening booth, while attracted many male festival goers.

“I came to this event to understand more about the life and needs of women,” said Nguyen Do Quoc Bao, a 17-year-old male student.

‘Be a warrior, not a worrier’

That was the slogan of the festival, which Tien Nguyen has made her own since her sister passed away.

“I started this network because of the love for my sister. I used to tell her that my commitment to BCNV depended on her, that I would only continue doing this if she took better care of herself,” Tien said.

After Thuong Sobey passed away, Tien left BCNV and went looking for another job. But she did not feel right.

“I felt emotionally heavy and could neither apply myself nor dedicate myself completely to my new job, which was a well-paid one and could provide me a comfortable life in Hanoi.

After three days at my new job, I wrote a long resignation email and sent it to my boss at 2 a.m. on a Sunday morning.”

The boss promptly responded and expressed her faith in Tien’s choice and advised her to follow what her heart said.

In her five-year journey with BCNV, Tien has touched, inspired and been inspired by many individuals.

Mai, the mother who’d kept her illness a secret from her daughters before revealing it in dramatic fashion, did not get a wig from BCNV because her younger daughter returned home and made her mother a wig out of her own hair.

Mai’s hair has grown back now and she has trained her right arm so she indulge in her favorite hobby again – painting. She participated in a free drawing class organized by BCNV in order to improve her skills.

Mai does not think any cancer survivor can fully and eternally recover, because cancer cells might still be lurking in the body and can resurface anytime, anywhere.

But she has learnt to live with it. “A wise and educated woman is one who knows how to take care of herself first,” Mai said.

Younger people are getting breast cancer

Breast cancer is the most common cancer among Vietnamese women. Its incidence has more than doubled over the last two decades from an age-standardized rate of 13.8 per 100,000 women in 2000 to 29.9 per 100,000 women in 2010, according to the World Health Organization.

Each year in Vietnam, nearly 165,000 new cancer cases are detected, of which breast cancer number is over 15,000, or 9.2 percent.

In recent years, younger Vietnamese women are getting breast cancer.

Deputy Health Minister Tien said he has operated on a 9-year-old patient for breast cancer, although such cases are quite rare. Typically, the older the women, the higher the risk.

Mai and Tu are among the few patients who feel comfortable enough to share their stories, and this makes a big difference in the lives of others.

The survivors bring priceless optimism to this fight. Many survivors say breast cancer has uncannily invigorated them and motivated their loved ones.

Her eyes glowing, Mai said: “My younger daughter has decided to enroll in a master’s degree in medical biology to help find ways to cure her mother.”

Source: Vnexpress

Moody’s upgrades baseline credit assessments of VIB

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Moody’s Investors Service has just upgraded the baseline credit assessment (BCA) and adjusted BCA of Vietnam International Bank (VIB) to B1 and Counterparty Risk Assessment (CRA) to Ba3.

Previously, right after upgrading the Government of Vietnam’s long-term issuer and senior unsecured ratings to Ba3 from B1, Moody’s upgraded the long-term local and foreign currency bank deposit and issuer ratings of VIB to B1 from B2 on August 14, 2018.

The upgrade in VIB’s BCA and other banks’ is driven by the higher Macro Profile of Vietnam, progress in writing off legacy problem assets and profitability of the banks, according to a report from Moody’s.

In addition to the upgrade, VIB was recognized by State Bank of Vietnam (SBV) and Vietnam Asset Management Company (VAMC) as one of five banks to re-purchase all bad debts that they sold to VAMC. Moody’s and VIB expect profitability for VIB to improve over the next 12-18 months as the burden of credit costs is reduced because the bank has no debt at VAMC.

VIB is also known as one of the only two local banks ready to apply Base II standards. To date, VIB has completed the implementation and waited for SBV’s approval for applying the standards in 2018.

The financial institution is now one of banks with best profitability ratios and risk management in Vietnam. As VIB’s profit before tax reached VND1,720 billion in the first 9 months 2018, its return on equity ratio (ROE) reached nearly 20% and expected to go up in Q4/2018. The bank’s capital adequacy ratio (CAR) is more than 12% and CAR, under Basel II, is over 9.5%. Ratio of short-term deposits used for long-term loans stood at 38% on September 30, 2018, lower than permitted maximum limit of 45%.

Earlier, Moody’s held a conference named “Inside ASEAN – Spotlight in Vietnam” in HCMC on September 12, 2018, assessing Vietnam’s economy, Vietnamese banking system’s ratings, giving forecast on the economy’s outlook and local bank’s performance in 2019. Mr Ho Van Long, Deputy CEO at VIB, is the only representative from local banks to be invited by Moody’s to join panel discussion in the conference.

Mr Ho Van Long, Deputy CEO at VIB,

Analysts from Moody’s expected Vietnamese banks’ asset quality and profits to set to improve in 2019. Raising new capital from external funding and retained profits provided banks with better capital foundation. Moody’s analysts also asserted that Vietnamese banks’ CAR is improved but still lower than their peers in the region.

When sharing solutions to raise capital and CAR, Mr Ho Van Long said in the conference that VIB and other healthy banks had 4 methods, including raising capital from increasing profits, raising Tier 1 capital from domestic and foreign funding, raising Tier 2 capital and optimizing risk-weighted assets (RWA). About VIB’s growth in retail banking (RB) business, the bank’s transformation which started 2 years ago helped VIB develop well and sustainably and become one of the biggest retail banks in Vietnam with NPL of RB under 1%. VIB continued to maintain the first position in car financing and ranked top 3 in Bancassurance sales in the market.

Controversial truth underlying multimillion-dollar hair extension industry

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When it comes to hair extensions, people may think about a quick and easy beauty solution to ladies in a special occasion.
They call it a billion-dollar industry. According to the Guardian newspaper, in Britain sales are up to £60 million ($78.72 million) a year and growing.

But what lies underneath is a global tale of exploitation.

Since the 1900s, when the hair trade boomed in western countries, controversy has surrounded it as to how hair is collected.

Advocates see it as an amicable sale in that where there is demand supply appears. Critics view it as grotesque and controversial.

In developing countries rich in culture and customs such as Vietnam, India, Malaysia, and Cambodia, women really love long and glorious tresses. It should come as no surprise if you see a woman gently combing out a knot and massaging her strands with coconut oil in the early morning. It remains a tradition marker of beauty though it takes time and meticulousness.

More importantly the industry has not grown or been regulated in these places. Therefore, over the years, women like Thuy (pictured above) have been targets for hair traders. She said the highest amount she has ever been offered is VND70,000 ($3) while the cost, as estimated by the Guardian, in an upmarket central London salon is around £900 ($1,180). So, what if she agrees and falls victim to that exploitation?

These foreign collectors target people who are hard up and desperate to sell their hair. They fall victim to this business as they need money to survive.

The invisible chain of labor

Years ago hair extensions were something only celebrities such as Victoria Beckham, that iconic global fashion symbol, knew about. However, these days they are popular among ordinary working women and even teenagers.

For example, an average visit to a hair salon for hair extensions in America costs $500 to $2,000. Whereas the original owner might receive only $40 for one or two bundles of 100 grams. This is enough to buy rice for nearly two months. Economically viewed, it is an amicable exchange.

On the surface, everything seems to be alright since this is the way demand and supply work. However, if you dig deeper, you will find what you discover hard to believe. In fact, hair vendors are scouting every village in the world for virgin hair which has never been dyed, blow-dried or straightened.

In the villages, young girls with beautiful tresses are found, a price is agreed upon and long ponytails are snipped of instantly. This is acceptable in that they depend on this for a living. At least temporarily their desperation is eased though, as we have analyzed, the price is incredibly cheap and it is not a fair deal any more.

However, demand far outstrips supply: up to 10,000 extensions are exported to the U.S. every week enabled by lax regulations. Hence, no one cares about their origins or really knows if the hair is willingly donated or not. Donors become stuck in this chain of labor. In other words, they are essentially invisible.

Hair industry exploits women due to their invisibility

The exploitation results from a shortage of hair to meet the demands of customers out there. To overcome that hardship, hair companies either fake it by chemically processing strands from any source they can find (normally, they would choose two kinds of hair with similar textures and features such as Indian hair and Brazilian hair) or purchase hair from sources that cannot be traced.

For the sake of money, people even resort to armed robbery of hair. It is not very hard to find stories of women and children being attacked for their hair at gun or knifepoint. Take a quick look on YouTube at “Women robbed off hair at gunpoint in Venezuela” on CNN News. Similar incidents also happen in India, South Africa, Ukraine, Myanmar, and so forth.

No action is taken and the door is still left open for this to take place all over the world by criminals with a view to making a quick buck from virgin hair. The industry continues to boom while potential threats are posed and the sufferers are those who are desperate.

Disgusting as it may be, it is worth reporting that there are quite a few incidents of girls trying to run and are dragged back by their parents to finish the deal. Others choose silence in their helpless fight against this traumatic event. On the surface it is an ordinary event without any harm to the child because the families get paid, but if you are in the girls’ shoes, you might understand how grim it is.

A survey done by the Alternative Daily shows that even though the participants know exploitation is more than likely, there is little they can do while living in a small town and making ends meet by farming or fishing. They just do whatever they can to feed themselves and their families.

“As a way of life, the more disenfranchised the women, the less these dealers will offer for good hair they can easily flip”, said Nguyen Dinh, CEO of hair company Ivirgo.

Dream to challenge hair exploitation

With Vietnamese gradually becoming familiar with the concept of selling their hair for money, hair extension start-ups are mushrooming. As a business, they all have to do their best to make profits and remain in business. However, as local hair vendors, what they offer hair sellers is surely superior to what others do.

Take for instance Ivirgo hair, the pioneer in the manufacture and export of Vietnamese hair extensions. In a distorted market where fair price is not well defined, Ivirgo hair desires to make the hair trade scrupulous.

The firm stated that most people do not and cannot know where hair comes from. Therefore, its hopes its appearance will change the situation. At the same time Vietnamese donors can get what they deserve to meet their basic needs in life.

Increasingly in the list of reliable hair vendors in Vietnam, we have the right to expect a promising future in which hair donors can enjoy a reasonable deal. It is also a good thing for the county’s economic growth, the firm said.

The emergence of hair companies like Ivirgo does brighten the life of poor women like Thuy. From now on she can sell her hair to a business that will support her family for many years to come.

Thu Ngan report on Vnexpress

Vincommerce tops list of prestigious retailers

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List compiled by Vietnam Report in cooperation with online newspaper Vietnamnet.

Vingroup’s Vincommerce topped a list of the top 10 most prestigious retailers in Vietnam announced on October 25 by Vietnam Report in cooperation with the Vietnamnet online newspaper, according to report from the Vietnam News Agency.

Following on the list were the EB Services Co., Saigon Co.op, Aeon Vietnam, Tan Son Nhat Airport Services JSC, Lotte Vietnam, Saigon Trading Group, Hapro, Lan Chi Investment and Service Co., and Noi Bai Airport Services JSC.

The Mobile World Investment Corporation, meanwhile, ranked first on the list of most prestigious retailers in terms of durable, electronic and refrigeration goods.

It was followed by Phu Nhuan Jewelry, FPT Retail, Saigon Jewelry, Doji Jewelry Group, Mediamart Vietnam, Cao Phong Co., VHC Trading Co., Fahasa, and Pico.

Companies were evaluated, scored and ranked based on three main criteria: financial capacity as shown in the latest audited financial statements, reputation in the media as assessed by Media Coding, and expert surveys on the position of the companies in the industry.

Source: Vneconomictimes

PM: Việt Nam GDP would reach $2.5 trillion and per capita income of $18,000 by 2045

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At the current growth rate, Việt Nam’s GDP in 2045 is set to reach US$2.5 trillion with per capita income of US$18,000, Prime Minister Nguyễn Xuân Phúc said during a speech yesterday in front of the National Assembly.

However, achieving this scenario would be “a tremendous challenge” and required current and future generations to be ambitious and never stop aiming towards prosperity, PM Phúc said.

[The year 2045 will mark a century since Việt Nam declared independence]

With average yearly growth surpassing 6 per cent and the economy’s scale expanding 17.4 times in the last three decades, the country has made significant strides in poverty reduction, joining the ranks of middle-income countries.

“In the beginning of the 90s, the per capita income of Singapore was 125 times higher than Việt Nam, now it is 24 times. Thailand used to be 16 times higher than Việt Nam, now the figure is 2.5 times. Compared to Japan, the figure came down from 267 times to 16 times, or the US, the figure decreased from 252 times to the current 25 times,” PM Phúc said.

The Government leader however admitted Việt Nam is at a difficult juncture as it faces the middle-income trap.

With the downward trend in growth rate of the labour force (falling from 2.7 per cent a year in the 2001-10 period to below 1 per cent in 2011-30) and rising wages, labour productivity is now key to stable growth.

“The improvement in labour productivity must be based on innovation and the application of science and technology. Reforms and innovation is an inherent and pressing demand of the economy,” PM Phúc concluded, warning that the path forward would be more challenging.

He said the overarching goal is to put people at the heart of the development process and pursue sustainable growth in socio-economic and environmental development, ensuring all members of society can contribute and benefit proportionately from this development and that no one is left behind.

PM Phúc also noted the priorities the Government aims to focus on, including ensuring a stable macroeconomy, reining in inflation, economic restructuring, reviewing policies to boost the private economy, streamlining the public sector workforce, investing in education and health and improving efficiency in foreign affairs and international integration.

The Government leader was the last cabinet member to answer queries from NA deputies during the three-day hearing session (October 30-November 1), part of the ongoing 6th meeting of the 14th parliament.

Aside from the speech, he also spent some time answering questions from NA deputies.

To ensure more consistent performance from all sectors of the Government, PM Phúc said more robust supervision from leadership is needed.

“Even with the same policies and mechanism, some localities and agencies succeed while others face delays and make mistakes, the difference comes from the top leadership,” the Government leader affirmed.

Responding to Buddhist politician Thích Thanh Quyết, PM Phúc reaffirmed Việt Nam is a country with freedom of religion and belief.

“There are 15 religions with 42 religious organisations and 25.3 million believers in the country, accounting for 29 per cent of the population. Thousands of churches and pagodas are present across Việt Nam. All religions are equal before the law and are given equal opportunities for growth,” PM Phúc said.

According to PM Phúc, the law on religion and belief is one of the most important legal instruments that seeks to concretise human rights, which include freedom of religion.

PM Phúc also reiterated the Government’s plan regarding climate adaptation for the vulnerable Mekong Delta region, with the first task switching to crop varieties and animal breeds resistant to climate change.

Initial results have been positive as yields increased on a year-on-year basis, he said.

The Government has also allocated VNĐ12 trillion ($515.8 million) plus an additional VNĐ 2.5 trillion for related projects and commenced 20 green growth projects with total investment of VNĐ7 trillion, he said, commending localities in the Mekong Delta that have mobilised funding from non-public sectors.

Nuclear watch

Responding to queries on nuclear safety preparedness against potential disasters caused by nuclear power plants that recently went into operation in China’s southern provinces near the northern border of Việt Nam, Minister of Science and Technology Chu Ngọc Anh said the ministry has perceived the risks and consulted the Government on approving a nuclear monitoring network and incident response plans.

Minister Anh said the delayed implementation of the observation network was due to a lack of time and budget.

“However, the exigent nature of the plan requires [us] to mobilise all resources available, including from research institutes,” science minister said.

Five nuclear monitoring sites have been established in five northern localities – Lạng Sơn, Hải Phòng, Quảng Ninh, Lào Cai and Hà Nội, with all of them directly connected to the science and technology ministry.

Minister Anh urged NA and Government to prioritise funding for the network.

He also told the NA that in last year’s trip to China by General Secretary and President Nguyễn Phú Trọng, the two sides signed agreements on sharing nuclear data.

Education issues

Minister of Education and Training Phùng Xuân Nhạ, who received the lowest votes of confidence by NA last week, continued to field questions on hot-button issues.

Minister Nhạ admitted to wastefulness caused by current textbook designs, which encourage students to write their answers directly into the books, limiting reuse.

“This technical design is derived from international experience, however, in the context of the country’s current development level, this approach is ill-suited and causing wastefulness,” Nhạ said.

The ministry has issued instructions for teachers and students but the effectiveness has been unsatisfactory, he said, adding the design of textbooks would be reconsidered.

In response to a question on whether Việt Nam has an education philosophy, Deputy Prime Minister Vũ Đức Đam affirmed the country has adopted UNESCO’s five pillars of learning: learning to know, to do, to be, to live together and to transform oneself and society.

However, Nguyễn Văn Hiển from Lâm Đồng Province said that while the philosophy has been manifested in education goals and principles, it needs to be abbreviated into a concise and easy-to-understand motto.

Lawmakers also raised questions about various other hot-button issues.

According to NA Chairwoman Nguyễn Thị Kim Ngân who presided over the hearing, 135 deputies raised questions for 19 Government ministers and various leaders.

Source: VNS

American may face death for Vietnamese tourists’ murder

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Man accused of killing two Vietnamese tourists in Las Vegas pleads not guilty, prosecutors to decide on death penalty demand.
Prosecutors have sought time to decide on whether or not to ask for the death penalty in the murder of two Vietnamese tourists last June. They have been given until November 13 to make a decision.

Julius Trotter, 31, showed up at a hearing on Thursday and pleaded not guilty to accusations that he stabbed two Vietnamese tour employees to death while robbing them at a hotel in Las Vegas, Nevada, a Washington Times report says.

Trotter’s attorney declined to comment.

The victims were Nghia Boi Sang, 38, director of a Ho Chi Minh City-based tourist company and her 30-year-old employee Nguyen Le Ba Khuong, who had arrived at Las Vegas on May 31 and stayed at the Circus Circus hotel and casino. Their bodies were found with multiple stab wounds on the afternoon of June 1.

A week after the murder, on June 7, the Federal Bureau of Investigation (FBI) and Las Vegas police captured the suspect in California after a 5-km car chase. The arrest was based on the hotel’s surveillance camera footage.

Trotter is being held without bail.

Following the incident, Vietnam’s foreign ministry instructed its embassy in Washington and consulate general in San Francisco to coordinate with local authorities in providing assistance to the victims’ families so they could come to the U.S. and arrange for their funerals.

The ministry also requested the U.S. police to solve the case and promptly inform Vietnam of the result of their investigation.

Trotter had pleaded guilty last year in Las Vegas to resisting a police officer with a weapon, and had been sentenced to five years’ probation for felony.

Source: Vnexpress

 

New CEO for Cho Tot

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Ms. Nguyen Ngoc Hai Duong takes over reins at classifieds platform.

Cho Tot has officially announced the appointment of Ms. Nguyen Ngoc Hai Duong as CEO.

“We’re very pleased to appoint Hai Duong as Cho Tot’s new CEO,” said Mr. Johan Rostoft, Managing Director of 701Search Group. “She has a demonstrated track record of successful initiatives that have contributed tremendously to Cho Tot’s growth since its first days. Known as a transformational leader who constantly embraces change, promotes innovation, and fosters a workplace culture of ownership and autonomy, Hai Duong together with the team will definitely bring Cho Tot to the next level and serve millions of Vietnamese better every day.”

“I’m humble, and excited at the same time, to succeed Mr. Bryan Teo as Cho Tot’s CEO,” Ms. Hai Duong said. “In the past seven years at Cho Tot, I have been proud to have been part of a passionate and zealous team turning Cho Tot into the leading marketplace in Vietnam. I would also like to take this opportunity to thank Bryan for his inspiring vision and leadership, which have contributed significantly to Cho Tot’s steady growth during the past few years. Moving forward, we will continue innovating to make Cho Tot a better platform for Vietnamese and a greater place to work for our employees.”

Ms. Nguyen Ngoc Hai Duong was born in 1987 and has worked for some seven years at Cho Tot, since graduating with a Masters from the National University of Singapore. She has held a number of important positions at Cho Tot, such as Head of Marketing and Head of Business Development, and was promoted to COO in January 2016.

After seven years as CEO and successfully growing the site from a startup to become the leading online classifieds site in Vietnam. Mr. Teo will return to Singapore as COO of 701Search Group.

“It’s been a rewarding and inspiring journey to co-found Cho Tot and build it into the leading online classifieds site that fulfills millions of Vietnamese’ daily needs,” he said. “I feel extremely confident that Ms. Hai Duong will build on the exemplary work of Cho Tot and lead the talented and devoted team towards a bright future.”

In the first six months of 2018, Cho Tot has been growing steadily, with an increase of 13 per cent in visitors and 14 per cent in successful transactions compared to the same period last year. In addition to its core online classifieds, Cho Tot recently also invested heavily in the three categories with prominent supply and demand traffic: Vehicle, Real Estate, and Electronics.

Source: Vneconomictimes

Traders Fair & Gala Night, Vietnam – The fantastic show of world finance

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Traders Fair & Gala night, Vietnam is attracting the world of traders to one place during one day. The leaders of the industry are going to come together in one place and to have an exchange of knowledge and experience.

When: November 24, 2018
Where: Windsor Plaza Hotel, Saigon (18 An Duong Vuong Street, District 5, Ho Chi Minh City, Vietnam)
Website: https://vietnam.tradersfair.com

Traders Fair & Gala night, Vietnam consists of 2 parts:

1. The exhibition starts at 9:00 and is free for visitors. To become our visitor you should download our Mobile App and get your personal QR-code or just register through our website https://vietnam.tradersfair.com/ . During the day exhibitors will show their services, communicate with potential clients and tell people about their companies. Also Traders Fair, Vietnam is a fantastic opportunity to meet and (what is more important) to take seminars from the leaders and experts. There will be 3 workshop rooms, where Forex professionals, successful traders and motivators are going to share out their knowledge and answer your questions – free for all visitors as well.

2. The Gala Night starts at 18:30 and ends at 23:00 – you may attend this part only by invitation cards. We provide companies and our speakers with them, so they can communicate in an informal way. Of course, we are going to share some amount of invitation cards with our visitors – by different lotteries and so on. Gala Night is going to be full of live performances, music, networking, food&drinks and prizes. To say more, you may win the Grand Prize of our Traders Fair – motorbike – during Gala Night. The last winners were just visitors, who obtain invitation cards during the event (Traders Fair Malaysia and Thailand).

Don’t miss! To register now for FREE, you should visit https://vietnam.tradersfair.com

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Vietnam Film Business Comes of Age With Action-Thriller ‘Furie’

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Veronica Van Ngo, who had a brief but memorable role as Paige Tico in “Star Wars: The Last Jedi,” is returning to her Vietnamese roots with the action-thriller “Furie.”

Ngo, who has credits dating back to 2005’s “Saigon Love Story,” produces, writes, and stars in “Furie.” Arclight Films is selling the movie at the American Film Market, and Well Go USA has bought U.S. rights.

“The appetite for more cross-cultural and strong female empowerment stories is accelerating at a rapid pace,” said Arclight chairman Gary Hamilton. “Now more than ever, it’s important for us at Arclight to bring hidden gems that would not ordinarily be accessible such as ‘Furie’ to audiences around the world. We are thrilled to partner with Well Go USA to showcase Vietnamese filmmaking at its finest. Well Go’s expertise in distributing content for the global audience makes them the perfect partner to put this Asian, female-led thriller on the cinematic map.”

“Furie” is set in modern-day Vietnam and the actors speak Vietnamese in the film. It was shot south of the Mekong River and near Ho Chi Minh City.

In the vein of the Indonesian box office hit “The Raid,” Ngo plays an ex-gangster gangster who retired from the life of crime after the birth of her daughter. Despite lying low in the countryside, she can’t seem to escape her violent past when her daughter is kidnapped — forcing her back into the life she swore she would leave behind.

“I just wanted to do a kidnap movie — something that’s very easy to relate to,” Ngo told Variety. “It’s told from the point of view of the mother, who blames herself.”

Vietnamese native Le Van Kiet directed with veteran stuntman Kefi Abrikh. Kiet has also worked on “The Rich Woman” and “Gentle.” Abrikh’s stunt credits include “Jason Bourne” and “Lucy.”

“We’re hoping for a premiere at Berlin,” Ngo said. “The Vietnamese market is not out in the world yet. What we wanted to portray was [that there’s] a dark world right in front of you, where you can’t tell who the villains are, so we made a deliberate decision to cast non-professionals as the villains.”

Both Ngo and Kiet left Vietnam during their childhoods. Ngo was then raised in Norway and returned to Vietnam in the early 2000s to pursue acting. She starred in “House in the Alley,” “Clash,” “Once Upon a Time,” “Pearls of the Far East,” “The Tailor,” and “Rogue,” a 13-part action series produced by MTV Asia and MediaCorp. Ngo made her U.S. debut in Netflix’s “Crouching Tiger Hidden Dragon: Sword of Destiny.” She gained global recognition for her brief appearance in “Star Wars: The Last Jedi” as a self-sacrificing pilot for the Resistance.

Ngo and Kiet noted that they’re hoping the film raises awareness about modern-day Vietnam.

“Vietnam is not just about the Vietnam War any more,” she noted. “There’s no mention of it in the movie.”

According to a report on Variety

Vietcombank gains preliminary agreements to open U.S. office

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Vietcombank has made a significant step in becoming the first Vietnamese bank to open a representative office in the United States, it said on Wednesday.

The move by Vietnam’s biggest bank by market value comes as diplomatic ties between Vietnam and the United States are on the rise and is part of a push to expand internationally as it aims for a place among the world’s top 300 banking and financial groups.

Vietcombank has obtained approval from the U.S. Federal Reserve and an agreement in principle from the New York State Department of Financial Services to open a representative office in New York City, it said on its website.

The State Bank of Vietnam, the country’s central bank, owns 77 percent of Vietcombank. Japan’s Mizuho Bank is the second biggest investor with a 15 percent stake.

“As Vietnam becomes more attractive to U.S. investors, Vietcombank’s representative office … will be an extended arm for Vietcombank in the United States to support business development in this very potential market,” it said, adding that it aims to obtain a license and open a New York office as soon as possible.

The representative office would liaise with prospective clients and banks in the United States and engage in other non-transactional activities such as analysis of the banking and financial services market.

The United States is now one of Vietnam’s top trading partners and is expected by some analysts to benefit from the continuing U.S.-China trade conflict, offering an alternative investment and trade destination.

According to a report on Reuters

Vietnam primed for M&A boom as foreign ownership limit eases

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Vietnam appears poised for a surge of investment following the country’s move to lift restrictions on foreign ownership of companies, as Asian multinationals realize the benefits of having a presence in one of the region’s fastest-growing economies.

The planned reform comes as the growing trade war between Washington and Beijing turns Vietnam into a haven for businesses wary about maintaining or expanding production in China.

In a move that continues Vietnam’s attempts to woo foreign investment, the Finance Ministry is drafting changes to the country’s securities law that will let foreigners acquire a majority stake in companies operating in sectors not considered critical to national security. This marks the first major amendment to the law since 2010.

Foreign ownership now is capped at 49% in general, with critical sectors like banking and aviation limited to 30%. Though the cap on these latter sectors might also be raised, they are likely to remain so-called “conditional businesses,” where full ownership by foreigners is prohibited. The planned amendments will be submitted to the National Assembly for approval in 2019.

Removing the ownership ceiling could transform Vietnam’s capital market through an increase in mergers and acquisitions, while also boosting gross domestic product.

Citibank’s Tsuyoshi Yamashita, who deals with Japanese businesses expanding into Vietnam, said “getting rid of the 49% restriction will enable foreign companies to gain further management rights, which will be a big incentive to enter Vietnam and expand their business.”

Japanese companies have flocked to Vietnam in the past few years. Japan became the Southeast Asian country’s biggest foreign direct investor in 2017 at $9.11 billion, triple the year-earlier figure. The $7 billion worth of Japanese inflows to Vietnam over the first nine months of 2018 led among 104 countries and territories and represented 28% of the total investment capital.

In June, Japanese trading house Sojitz bought Saigon Paper for about $90 million. Working with Vietnamese real estate company BRG Group, trader Sumitomo Corp. and machinery maker Mitsubishi Heavy Industries along with about 20 other companies have teamed to build a “smart town” in Hanoi that will feature self-driving buses. Retailers like Japan’s Aeon will come there to do business eventually.

“Vietnam’s urbanization is progressing rapidly,” Yamashita said. “Sectors like real estate and infrastructure-related businesses, such as thermal power generation, will probably see a higher demand from foreign companies to do business together.”

South Korea and Singapore are also major dealmakers in Vietnam.

“Asian countries dominate the M&A market in Vietnam,” said Roy Zuin Forney, an analyst in international business advisory at pan-Asia consultancy Dezan Shira & Associates.

Forney named pharmaceuticals and banking as industries that will attract more foreign investment as state-owned companies look to divest. Vietnam’s rising income helps more people afford health care, contributing to rapid growth in the pharmaceutical sector. Because Vietnamese law forbids foreign companies from distributing pharmaceutical products on their own, more will likely seek M&A deals with local companies to reach into this market.

One source familiar with M&A deals in Vietnam said Indian drugmaker Renova Global is “looking for opportunities.” Renova has an office in Vietnam but seems eager to raise its profile in the country further.

Japan’s Taisho Pharmaceutical Holdings has recognized the potential of the Vietnamese market. In 2016, the company acquired 24.5% of Ho Chi Minh City-listed DHG Pharmaceutical. Taisho purchased another 7% stake in August after the drug distributor removed its foreign ownership cap. It was revealed in October that the Japanese company planned to increase its stake again with a 2.3% purchase.

Ernst and Young Vietnam notes that the Southeast Asian country boasts a high percentage of smartphone ownership and potential for growth in e-commerce and businesses tied to information technology, which could lead to “industries like logistics becoming more attractive to foreign investors.”

Vietnam remains off the radar for many U.S. and European companies. An investment banker on Wall Street says “a lot are looking at companies that are transparent and have fewer risks. They want companies that are already earning a significant amount of profit, which narrows down their options.”

However, that might change soon, too. Heightened trade tensions between Washington and Beijing are causing “more companies to move production out of China,” Ernst and Young Vietnam said. And with China’s rising labor costs also becoming a disincentive to invest there, foreign companies are likely to accelerate their shift to Southeast Asian countries like Vietnam. However foreign bidders for Vietnamese companies will still need to win shareholder approval to take 100% ownership.

According to a report on Nikkei

LIAN – The first automated insurance application in Vietnam debuts

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An automatic insurance application utilizing Artificial Intelligence and Blockchain technologies made its debut for the first time in Vietnam at a press conference in HCM City on October 30.

The LIAN application aims at assuring that all the Vietnamese families to be insured from all the risks and approach insurance service in a fast, convenient and safe way with a competitive price.

With this new application, customers can purchase instant auto insurance online in a minute while receiving compensation within 30 seconds.

LIAN auto insurance application uses technologies from Google, NAPAS, Viettel, VTC and ECP. The app is compatible with both Android and IOS and users can download, install and use the app available on Google Play and App Store.

According to a report on VNA

 

Chinese, South Korean tourists keep flocking to Vietnam

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So far of this year, more than four million Chinese tourists have visited Vietnam, breaking the record of 2017 number.

General Statistics Office of Vietnam (GSO) reported, the number of Chinese tourists grew by 28.8% over last year. Vietnam is expected to welcome more during the year-end holiday with a total of about five million Chinese tourists expected to visit the country in 2018.

However, China was not leading inbound tourism market in terms of growth in Vietnam. The number of tourists from South Korean grew a remarkable 48.3% compared to 2017, with nearly 2.9 million tourists visiting over the last 10 months.

GSO also recorded more than 12.8 million international tourists so far – a hike of 22.4% compared with the same period last year.

The Vietnam’s National Administration of Tourism is expecting to welcome between 15 and 16 million tourists in 2018.

 

Read full report on VNS here

“Pure roasted coffee” movement kicks off in Vietnam

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Thousands of cafes have opened in the last three years serving ‘clean coffee’ or ‘100 percent pure coffee’.

And instead of the coffee mixed with soybeans and maize, consumers now want ‘only coffee’ products. This has prompted more roasters and café chains to set up.

Thousands of cafes have been set up over the last three years. The owners of many startups also started opening cafés, such as Light Coffee, Shin Coffee, Phuc Nguyen, The Kaffein Coffee, Revo Coffee and 1864 CAFEs.

They commit to sell ‘clean’, ‘pure’, and ‘organic coffee’.

A coffee expert commented that the owners of the cafes are following a wise marketing strategy with the slogans, because consumers have high demand for organic products and refuse food they think are unsafe.

In HCM City, cafes are equipped with large roasters to attract customers. The shops also sell roasted coffee beans or roasted coffee.

The Coffee House owned by Nguyen Hai Ninh, is the best known coffee chain with 100 shops across the countries developed in the last four years. Ninh said his chain serves 60,000 customers a day and coffee is the bestselling drink, accounting for 40 percent.

The market has witnessed the movement of instant coffee makers shifting to roasted coffee as they can see the great opportunities of the market. Trung Nguyen International, for example, is developing its roasted coffee brand King Coffee, while Nestcafe has Ca phe Viet (Vietnamese coffee). Phuc Sinh JSC, one of Vietnamese 10 biggest coffee exporters, has K Coffee brand.

Pure roasted coffee products with well-known brands are now priced between VND200,000 and VND500,000 per kilogram, while less prestigious home-made products are selling at VND150,000 per kilogram.

However, it is not easy to stay in the roasted pure coffee market. V.C.V, the owner of a roaster company in district 9, HCM City, admitted his company has reduced the production scale because of the difficulties of the market.

“Our products were available at many supermarkets, but the sales were bad. Real pure coffee has cockroach color and it is slightly sour. The majority of customers like black coffee with strong flavor,” he said.

Phuc SInh JSC’s chair Phan Minh Thong also said changing Vietnamese habits and tastes remains a big challenge for coffee roasters.

A report shows that Vietnam imported 1 million bags of coffee (60,000 tons) in 2016-2017, an increase of 360,000 bags over the previous period. The country is importing more coffee as demand from restaurants, hotels and shops has increased.

According to a report on Vietnamnet

South Korea’s KEB Hana Bank purchases 603 million shares of BIDV

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The Bank for Investment and Development of Vietnam (BIDV, HOSE: BID) expects to issue 603 million new shares to KEB Hana Bank of South Korea in a move to raise its charter capital to US$1.72 billion.

In a document released on Wednesday seeking approval from the bank’s shareholders, Vietnam’s second biggest bank by market value said the new shares will be issued in 2018 or 2019.

The new shares under this private placement will be transfer restricted for five years after Hana Bank becomes shareholder of BIDV.

At the market price, the planned BIDV share sale is worth US$735 million. BIDV intends to use the new capital for lending, investment and expanding its network.

Shareholders will have until November 15 to vote on the share sale.

After the private placement, foreign investors will hold 15 per cent of the bank’s charter capital. According to regulations, foreign ownership ratio at Vietnamese banks is capped at 30 per cent of charter capital.

The State currently owns 95.28 per cent of BIDV, which will be reduced to 80.99% after the planned share sale to KEB Hana.

The private placement was among BIDV’s proposals shared at the bank’s annual general shareholder meeting in April to increase its charter capital by 28%t to VND43.65 trillion this year.

BIDV will issue 965 million ordinary shares with a face value of VND10,000 per share. More than 171 million of these shares will be sold to the public through an initial public offering or private placement, 603.3 million will be sold to foreign strategic investors under private placement and over 171 million will be sold under the Employee Stock Ownership Plan (ESOP).

The increase in charter capital is part of BIDV’s plan to increase its equity to meet the minimum capital adequacy requirement of eight per cent set by the State Bank of Vietnam for 2020, which is aligned with Basel II.

The move is also expected to help the bank improve the credit ratings of international institutions, enhance prestige in its business operations and improve its capacity and competitiveness in domestic and international markets.

The bank has committed to use the added capital in its business areas with reasonable guidance to ensure it is used efficiently to maximize benefits for shareholders.

The bank targets pre-tax profit of VND9.3 trillion this year, increase 7% from 2017, with bad debt under 2% of total loan value.

Read full article on VNS here

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