Officially: Dunkin’ dropping ‘Donuts’ from its logo

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After months of testing a possible name change, Dunkin’ Brands is finally ditching the word “donuts” from the coffee chain’s branding and logo.

The company, which also owns Baskin Robbins, said Tuesday that its company name, Dunkin’ Brands, will remain the same.

The switch to just “Dunkin” will begin in January. The restaurant has used “Dunkin'” in its tagline “America Runs on Dunkin’,” since 2006 and found that customers reacted positively to the shortened name.

Growing competition in the coffee and breakfast space has pressured Dunkin’ into making itself known for more than just its doughnuts. Dunkin’s strategy, which it laid out during its investor day in February, includes slimming down its menu, increasing speed and convenience, and focusing more on its beverages than its food.

Currently, beverages account for about 60 percent of Dunkin’s sales. However, executives on a media call Tuesday stressed that the company is not ditching doughnuts from its menu. In fact, Dunkin’ sells more than 3 billion doughnuts and munchkins every year.

The branding change is just another extension of Dunkin’s effort to remain more relevant to consumers. A new Dunkin’ logo will be featured on the exterior and interior signage at all new and remodeled restaurants in the U.S. and eventually internationally. Previously, the signage was only used at Dunkin’ next-generation stores.

Executives said Dunkin’ will roll the cost of the brand changes into its existing remodeling budget. The company also expects to open 1,000 new stores in the next three years.

“By simplifying and modernizing our name, while still paying homage to our heritage, we have an opportunity to create an incredible new energy for Dunkin’, both in and outside our stores,” Tony Weisman, chief marketing officer at Dunkin’ U.S., said in a statement.

Shares of Dunkin’ Brands rose more than 1 percent on Tuesday and have climbed more than 39 percent in the last year.

According to a report on CNBC

Andrei Iancu – smuggler who hid a Vietnamese boy in a suitcase

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Most of us will have spent the summer break lounging on a beach, spending quality time with the family, or jetting off abroad to discover a new country.

But some criminals will have spent their summer in much less attractive surroundings – a prison cell.

Andrei Iancu, 20, from Buzau in Romania, was stopped at the Port of Dover (UK) on this summer when Border Force officers discovered a suitcase in his boot.

The smuggler who hid a Vietnamese boy in his suitcase @ Kent Police

At first glance the suitcase appeared to only contain two large packets of crisps and several bags containing items of clothing, though when thee bags were moved an arm could be seen protruding from within a partially opened suitcase.

The arm belonged to a 16-year-old Vietnamese boy who was released from the case before being taken to hospital by ambulance. His condition has since improved after initially being described as life-threatening.

Iancu was sentenced to 18 months in prison at Canterbury Crown Court on June 29 after pleading guilty to attempting to smuggle a person into the UK.

Content Contributor Opportunities

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Vietnam 3PL Market is expected to reach around USD 55 Billion by the year ending 2022

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Vietnam 3PL market by Market (Freight Forwarding and Warehousing Services) and by Companies (International Companies and Domestic Companies); Major Players Operating in Vietnam 3PL Market (DHL Vietnam, Damco Vietnam, FedEx, Kerry Logistics, Gemadept, Vinafco, Transimex Saigon and others.

  • The growth in Vietnam’s E-commerce industry is likely to drive the country’ 3PL market.
  • With Vietnam’s accession to World Trade Organization (WTO), restriction on foreign entities have been reduced.

Analysts at Ken Research in their latest publication “Vietnam Third Party Logistics (3PL) Market Outlook to 2022 – By Freight Forwarding and Warehousing 3PL Services and By International Companies and Domestic Companies” believe that companies focusing on untapped market, developing innovative technological solutions and collaboration between trade related companies and Logistics Service Providers (LSPs) will have a positive impact on the market.

Vietnam 3PL market is expected to register a positive CAGR of 13.6% during the forecast period 2018-2022. The market is further expected to be driven by expanding industrial activities, growing consumer preference for online shopping, upcoming infrastructure in the country & continuous investment by the government in development of logistics infrastructure and consistent economic growth.

Vietnam Third Party Logistics (3PL) Market Outlook to 2022

Over the forecasted period 2018-2022, 3PL companies operating in Vietnam will be emphasizing more towards technological upgradation in order to increase client interactions. Growth in Vietnam’s E-commerce industry is further expected to drive the country’s 3PL market due to an increase in demand for faster delivery of goods, efficient inventory management, freight forwarding and individualized shipping time. Increasing globalization is encouraging companies across several industry verticals such as E-commerce, food and beverage, durable manufacturing, and general merchandising to expand their geographical presence, therefore creating a positive impact on 3PL market. Third-party logistics outsourcing is rapidly gaining importance in the country as more and more corporations across the world are unable to manage their complex supply chains.

Vietnam’s accession to the WTO has given a surge to the country’s FDI levels as more and more foreign entities were witnessed to setup their manufacturing facility within Vietnam. Increasing investments have given a rise to the production and sales of domestic as well as international products within Vietnam along with their transportation needs, thus providing companies with an option to in-house the delivery process or outsource it to a 3PL provider. Logistics outsourcing brings many benefits to the business such as it reduces capital, improves customer service, faster delivery of goods, developing business relationships and improved access to information.

For more information on the research report, refer to below link:

Related Reports:

Contact:
Ken Research
Ankur Gupta, Head Marketing & Communications
Sales@kenresearch.com | +91-9015378249

Vietnam has its first female president

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Vietnam taps first woman to top leadership as acting president

After Tran Dai Quang died Friday from a serious illness, Vietnam taps Vice President Dang Thi Ngoc Thinh to be the top leadership as acting president. Bloomberg reports.

Ms. Thinh will be the acting president until the National Assembly elects a new leader, according to a statement on the government website, which cited parliament chairwoman Nguyen Thi Kim Ngan. Thinh has been vice president since April 2016.

Vietnam will hold a two-day national mourning period from Sept. 26 to Sept. 27 in honor of President Quang, the government announced on its website Sunday. Quang, who was 61, was one of the country’s top four leaders, along with the general secretary of the Communist Party, prime minister and head of the National Assembly.

A former minister of public security who supported forging closer ties with the U.S. and boosting the nation’s private sector, Quang hosted U.S. President Donald Trump during his first state visit to the communist country last year.

Under Vietnam’s constitution, the vice president becomes acting president if the president dies in office until the National Assembly chooses a permanent replacement. The parliament’s second one-month session of the year opens Oct. 22. The government’s economic policies, which include aggressively seeking trade agreements, are expected to continue.

Quang had said the U.S. and Vietnam were “former enemies, turned friends” during a joint press conference with former U.S. President Barack Obama in Hanoi in 2016.

“President Quang was a great friend of the United States,” Trump said in a statement released by the U.S. Embassy in Hanoi. “I am grateful for his personal commitment to deepening the United States-Vietnam Comprehensive Partnership.”

Vietnam ranked among the best countries for expats

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Vietnam ranked #14 among the best countries for expats after InterNations draws on its 3.2 million members and surveys over 18,000 expats people from 178 nationalities living in 187 countries or territories.

According to a report on atlasandboots.com, there are an estimated 57 million expatriates across the globe with the term ‘expat’ no longer limited to corporate employees relocating from a company’s headquarters. Instead, more and more expats are moving overseas in search of a dream. Some have remote jobs and are now working from a location they love. InterNations’ latest survey looks at how expats’ motivations for moving are changing where they go.

InterNations uses its members’ answers to rank 68 destinations on how expat residents feel towards their home away from home. The survey uses 48 individual factors that influence an expat’s experience of living in a foreign country including safety and security, family life, finances, travel and transport options, ease of settling in and average working hours.

Let’s take a look at the results

Vietnam ranked #14 among the best countries for expats

While there has been change at the top of the ranking, at the bottom it’s the usual suspects. Seven out of the 10 worst-rated countries were already in the bottom 10 in 2017.

Participants were asked to assess up to 48 factors concerning various aspects of life abroad on a scale of one to seven

New policy may cause chaos in the textbook market

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Experts have warned that the ‘one curriculum, many sets of textbooks’ policy may cause chaos in the textbook market.

A movement to boycott the ‘Tieng Viet 1 – Cong nghe giao duc’ textbook (Vietnamese language for first graders, compiled in accordance with the new education technology program) started just before the Ministry of Education and Training (MOET) approved the new education program.

Under the program, MOET will be the only agency which sets curricula for every grade, while there will be many sets of textbooks to be compiled by different groups of authors. The new program is scheduled to begin from the 2019-2020 academic year.

Once the ‘one curriculum, many sets of textbooks’ policy is implemented, healthy competition is the prerequisite to have a healthy textbook market.

Analysts say that groups of textbook compilers and publishers are trying to launch an unhealthy competition to eliminate rivals.

The Vietnam Education Publishing House, now the only textbook publisher in Vietnam, is believed to pocket big profit with 100 million textbook copies printed every year. Parents have to pay VND1 trillion each year for textbooks.

A high school teacher in Hanoi affirmed that some groups of authors have been compiling new textbooks, even though the MOET still has not publicized the curricula and formal learning subjects.

Analysts warned that as there would be many textbook compilers and publishers, it would be difficult to control the market.

According to Nguyen Quoc Vuong, a researcher, there are principles that need to be observed.

The textbook inspection council must be completely independent and transparent with members who do not have relations with publishers. The members of the council must not be textbook compilers or officials who have the right to decide which textbooks to use.

Some experts, agreeing with Vuong, warned that if the phases of the textbook compilation and distribution cannot be separated, the textbook market will become chaotic as it is cornered by groups of interests.

Textbook compilers, publishing houses and schools could collude with each other. Textbook suppliers may pay under-the-table money to headmasters of schools to persuade the headmaster to choose their textbooks for the schools.

Vuong said there must be a transparent mechanism about who will have the right to choose textbooks. They could be headmasters, parents, teachers or local councils, but the selection process must be carried out in a transparent way.

According to a report on Vietnamnet

Late President “loved and respected by many”

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President Tran Dai Quang signed a letter to Vietnamese children on the occasion of the Mid-Autumn Festival. He did not know that it would be his last signature.

He was admitted to the military hospital on the afternoon of the same day. He went into a coma at around 5pm and never woke up.

On the previous day, he had two receptions: at 3:30pm, he hosted Chief Justice of the Supreme People’s Court of China Zhou Qiang. At 4:30pm, he met with heads of delegations to the 14th Assembly of the Asian Organisation of Supreme Audit Institutions (ASOSAI 14).

“In the first meeting, he looked paler than on most days, but he still smiled when talking to the guest. But as he walked into the second meeting, he couldn’t hide his tiredness,” said Dương Dũng, who was the Vietnam News Agency reporter who had been exclusively covering the President’s activities for the past 29 months.

Nguyễn Quốc Triệu, former health minister and head of a national committee in charge of leaders’ health, told media that Quang was afflicted by a serious disease for which doctors have found no cure yet. The president fell sick in July 2017 and had traveled to Japan six times for treatment.

President Quang was born in 1956 in Quang Thiện Commune, Kim Sơn District, Ninh Bình Province, about 100km south of Hà Nội.

In the eyes of people in his hometown, the late President was a tough person.

Cao Hoàng Đảng, 63, President Quang’s childhood friend, said although the State leader was born into a poor family, he never complained about it.

“His father died early so their family life was harder than others’. After school, he would rush to the fields to work,” Đảng said.

Later on, Quang gained success in his studies and career, holding high-ranking positions, but he was still a simple person that local residents had known for a long time, Đảng said.

Vũ Xuân Sinh, principle of the Kim Sơn B High School in Kim Sơn District, said the late President had paid great attention to encouraging local students.

“In 2014, when he was the Minister of Public Security, he came to visit the school and found out our school facilities were degraded. He then donated funds himself and asked many other philanthropists to donate to the upgrading of the school,” Sinh said.

Lê Tiến Toàn, a teacher at the Kim Sơn B High School, said he was touched by how his old student treated him.

Toàn recently had a heart attack and had to be hospitalised in Hà Nội’s Bạch Mai Hospital. Worried about his health when the procedure was complicated, his daughter contacted the President and asked for help.

“Quang helped me a lot with the procedures and even gave me some gift. He was such a loving person and I am so proud to have a student like him,” Toàn said.

“Simple” and “down-to-earth” were also the words that many people who knew the leader would use to describe him. Dương Dũng, Vietnam News Agency reporter, said that President Quang was an open, friendly and caring person, contradicting Dũng’s initial expectations for how a head of state would behave.

“He would always find time to talk to us in between activities and sometimes even joked and called us his comrades,” Dũng said.

But President Quang was also a tough and confident person when it came to State activities, according to Trần Việt Thái, Deputy Director of the Institute for Foreign Policy and Strategic Studies under the Diplomatic Academy of Việt Nam.

“He paid a lot of attention to the country’s foreign affairs, and he was a leader with a strategic vision and a confident and decisive manner,” Thái said.

Late President Quang made a good impression on international friends when he successfully hosted many diplomatic activities last year when Việt Nam hosted the Asia Pacific Economic Forum (APEC) 2017, Thái said.

“I was mostly impressed with his manner and stamina when hosting foreign heads of states from the United States, Russia and China. He was so confident yet flexible when receiving US President Donald Trump and the General Secretary of the Communist Party of China (CPC) Central Committee and President of China Xi Jinping,” he said.

Thái also recalled how hard President Quang worked during the 2017 event, when he had to travel back and forth continuously from the capital to Đà Nẵng.

“He always put great efforts in the things he did and worked tirelessly until the last minute. He directly chaired and organised many important diplomatic activities during this event and greatly contributed to the success of the summit,” Thái said.

“He was also loved and respected by so many people working in the diplomatic sector for his down-to-earth and caring character,” Thái said.

Vietnamese Ambassador to Cambodia Vũ Quang Minh also shared his memories of the late President on his Facebook page.

Minh said that in a working session with a Vietnamese delegation from the Ministry of Defense, Cambodia Prime Minister Hun Sen said that President Quang was one of the soldiers who volunteered to come and fight with his Cambodian comrades in 1979 to push the Khmer Rouge from Phnom Penh.

And President Quang was also remembered by the Cambodia Prime Minister for having help cut his hair five times, according to Ambassador Vũ Quang Minh.

The President graduated from the People’s Police University and the School of Foreign Languages under the Ministry of Home Affairs, now the Ministry of Public Security.

He served as Deputy Minister of Public Security from 2006 to August 2011, and Minister from August 2011 to March 2016.

He assumed office as the country’s President on April 2, 2016.

President Quang will be buried in his home village in northern Ninh Bình Province after a State funeral in Hà Nội.

Source: VNS

HCM City: multi-million dollar port in danger of closure

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Since June 2017, the Saigon Premier Container Terminal (SCPT) in Nha Be district has not received any large-tonnage container vessel. The thirst for goods is causing the multi-million dollar port to incur big losses.

The Soai Rap passage has suffered from sedimentation and the water depth cannot reach – 9.5 meters to receive large vessels.

Doan Hong Tam, deputy general director on July 24, confirmed that as the port has needed container goods for one year, SCPT is facing big difficulties.

In the entire 2017, the port only received small vessels with the cargo capacity of 34,000 cars, while the number of cars arrived in the first six months of 2018 was equal to 20 percent of the same period last year.

SPCT is developed by the joint venture between Dubai Ports World (DP World) and Tan Thuan Industry Development capitalized at $410 million ($250 million in the first phase). It became operational in 2010 with the capacity of 1.5 million TEU per annum.

When programming the development of ports in Hiep Phuoc area, HCMC and ministries had to spend VND300-400 billion to dredge the Soai Rap passage every year to ensure the water depth of – 9.5 meters for large vessels to dock at the Hiep Phuoc port area.

“Because of the passage sedimentation, we cannot receive container goods, but can only receive import cars, carried in small-tonnage vessels,” Tam said.

Besides SPCT, the Hiep Phuoc area also accommodates other ports, namely Tan Cang Hiep Phuoc, Saigon-Hiep Phuoc and specialized ports for the Hiep Phuoc Industrial Zone.

The situation became serious when NYK’s Castor Leader, which was carrying cars, was caught in a shoal for six hours on the way to SPCT.

Since March 2018, the cargo vessel going in/out of the ports in Hiep Phuoc area with the draft of over 7.5 meters have to shift to the Saigon-Vung Tau passage (Long Tau River) which is narrow.

Also according to SPCT, shipping lines earlier this year requested SPCT to provide information about the current situation and the plan to dredge Soai Rap passage.

However, SPCT cannot give an answer because it is the state’s responsibility to dredge passages, not port owners.

The operation of SPCT depends on the maintenance and dredging of Soai Rap, work which depends on planning by state agencies.

Sources said that the annual passage dredging is carried out with money from the state budget. To speed up the work, HCMC local authorities proposed to advance VND300 billion from the local budget in previous years and VND400 billion this year to carry out the dredging soon so as to save the ports in Hiep Phuoc area.

Kim Chi report on VNN

Where has the money gone after landmark stock issuances?

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While M&A is a popular strategy to mobilise capital, the outcomes of these deals get far less attention a couple of years down the road. Khac Lam delves into the most eminent cases in the Vietnamese stock market.

DNP: Continuously engaging into M&As of water and plastic sector companies

Dong Nai Plastic JSC (ticker DNP) is one of the businesses most active on the M&A scene in the past years.

Within four years, its charter capital increased 25-fold from VND34 billion to VND880 billion, through three stock issuances to existing shareholders, two private placements, and one stock distribution to the company’s employees under the employee stock option plan (ESOP), besides several rounds of dividend and bonus payments in the form of stocks.

Amid rapid capital hikes in the past four years, DNP has been actively engaged in a string of M&A deals with businesses in the water and plastics fields.

By the end of June 2018, besides its Dong Nai Plastic Plant, the company possesses two other businesses, Tan Phu Plastic where it holds a 72.65 per cent stake and Dong Nai Mien Trung Plastic where it holds 99.33 per cent.

In the field of water, DNP possesses more than 10 member and affiliated companies, such as Binh Hiep JSC where it holds 53.06 per cent, Dong Tam Water Refinery Plant (39.5 per cent), Long An Water Supply and Sewerage JSC (30.94 per cent), and Can Tho Water Supply and Sewerage JSC (16.89 per cent).

In the first half of this year, DNP injected a total of VND109 billion ($4.8 million) into four water affiliates.

It also pumped nearly VND296 billion ($13 million) into two water plant projects in Bac Giang and Long An province.

Amid rapid investment expansion, DNP’s after-profit figures have also witnessed constant increases, from VND22 billion ($973,450) in 2014 to VND45 billion ($2 million) in 2015 and VND86.3 billion ($3.8 million) in 2016.

Last year, the company’s profit could not follow this upward trend, slightly falling to VND83.3 billion ($3.68 million) and in the first six months of this year, DNP only reported VND29.7 billion ($1.3 million) in profits, half of the same period last year.

VRC: ADEC acquisition
In September and October 2017, VRC Real Estate and Investment JSC (VRC) sold 35.5 million shares in two deals (10.15 million stocks to existing shareholders and 25.34 million stocks to strategic investors), raising its charter capital by 3.4 times from VND145 billion ($6.4 million) to VND500 billion ($22 million).

VRC planned to reap VND390 billion ($17.2 million) from the share sale, VND345 billion ($15.3 million) of which will be used to buy a 65 per cent stake in ADEC JSC, a real estate firm, with the maximum share price of VND24,000 ($1.06), while VND44.5 billion ($1.96 million) will be used to supplement the company’s working capital.

It is noteworthy that several months before VRC’s plan for charter capital increase and to acquire ADEC was unveiled, in early May 2017 VRC’s general director and chairwoman Nguyen Ngoc Quynh Nhu was appointed to become ADEC’s general director cum chairwoman.

In October 17, 2017, the company finalised two VRC stock issuance deals, and two days later it bought 13.3 million ADEC shares at a price level close to the set price, at VND319.7 billion ($14.1 million).

The 13.3 million shares equalled 60.06 per cent of ADEC’s charter capital.

The proposed VND24,000 is twice ADEC’s book price at the end of 2016, when the company reported VND221 billion ($9.7 million) in charter capital and VND348 billion ($15.3 million) in total asset value.

Compared to other listed real estate tickers, this price level was deemed high as ADEC incurred more than VND8 billion ($354,000) in losses in 2015 and only posted VND5 million ($220) in after-tax profit in 2016.

Also in late 2016, the company had used the money left from stock issuances to raise its capital contribution in VRC Saigon Limited, its member unit, which was founded in June 2016.

In the second quarter of this year, VRC, however, transferred 15 per cent of its capital contribution in VRC Saigon Limited to another firm.

The capital transfer was the main reason doubling VRC’s first half profit on-year. The shareholders, however, are dubious about the efficiency of VRC’s investment in ADEC.

HKB: Using proposed supplemental capital to feed two M&A deals
Hanoi-Kinh Bac Agriculture and Food JSC (ticker HKB) sold 30 million shares (1.5 times the volume of the number of stocks currently in circulation) to existing shareholders in March 2016. Initially, the company envisaged using the raised capital volume of VND300 billion ($13.2 million) to supplement its working capital.

Shortly after that, in May 2016, HKB announced two investment deals worth VND220 million ($9.7 million) and VND80 billion ($3.5 million) into Lumex Vietnam and Hung Loc Phat Gia Lai Agriculture JSC.

Then in October 2016, HKB pumped VND110 billion ($4.8 million) into Lumex Vietnam. In total, HKB now holds 83.42 per cent in Lumex Vietnam and 88.89 per cent in Hung Loc Phat Gia Lai JSC.

These two investment deals equalled 70 per cent of HKB’s equity by the end of 2016. The company, however, has published limited information about these two target companies to shareholders.

In the last two years, HKB saw continual decreases in its revenue and profit figures, with the most recent five quarters in the red. The company’s ticker took a plunge from more than VND30,000 ($1.3) in mid-2016 to a mere VND1,400 ($0.06) on September 21, 2018.

Source: VIR

September 25: VN-Index down 0.05%

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HNX30 and UPCoM the only gainers.

Trade on September 25 again saw positive signs among foreign investors.

On HSX, the VN-Index closed at 1,010.74 points, down 0.55 points (0.05 per cent), while the VN30-Index closed at 984.11 points, down 0.48 points (0.05 per cent).

On HNX, the HNX-Index finished at 115.52 points, down 0.07 points (0.06 per cent), the HNX30-Index 214.21 points, up 1.01 points (0.47 per cent), and the UPCoM-Index 53.99 points, up 0.32 points (0.60 per cent).

Liquidity on HSX was VND3.9 trillion ($166.7 million) and on HNX was VND791.8 billion ($33.9 million).

Food and beverage stocks to gain ground included BHN and VCF, by 1.8 and 0.6 per cent, as TAC and TLG lost 0.3 per cent and VNM 0.1 per cent. SAB and KDC closed at their opening price.

Gainers in banking included STB and BID, by 0.8 and 0.3 per cent. MBB lost 1.3 per cent, VCB 1.2 per cent, TPB 1.1 per cent, CTG and BVH 0.7 per cent, TCB 0.4 per cent, VPB 0.2 per cent, and MSN 0.1 per cent.

In energy, PVD gained 5 per cent, PVT 2.3 per cent, GAS 0.2 per cent, and PLX 0.1 per cent, as PPC lost 0.5 per cent and PGD and NT2 closed at their opening price.

The Top 5 shares bought by foreign investors were VRE, HPG, KBC, BMP and SBT.

VJC was the largest net sold share on HSX, followed by DXG, PGC, DIG, and TDH.

VGC was the largest net sold share on HNX, followed by TIG, VCS, PVB and CEO.

On UPCoM, foreign investors bought 4,360 shares worth VND15.37 billion ($657,785).

They net bought on HSX by VND82.11 billion ($3.5 million) and net sold on HNX by VND24.43 billion ($1 million).

Huyen Thanh report on Vneconomictimes

Deloitte Vietnam named among best companies to work for in Asia

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HR Asia’s “Best Companies to Work for in Asia 2018” awards ceremony held in HCMC on September 14.

Deloitte Vietnam was recognized as one of 27 “Best Companies to Work for in Asia 2018” by HR Asia magazine, one of the region’s leading publications for human resources (HR) professionals, at a ceremony on September 14 in Ho Chi Minh City.

This is the first time Vietnamese businesses have been included in the awards, by HR Asia magazine’s Vietnam chapter, and Deloitte Vietnam is the only firm among the Big 4 in Vietnam to be honored.

“Vietnam has been developing rapidly in the past decade, with many new local as well as multinational companies setting up businesses, widening employees’ choices,” Ms. Tran Thuy Trang, HR and Learning Director at Deloitte Vietnam, said at the ceremony. “Being chosen as an employer of choice shows that Deloitte has succeeded in creating a workplace environment that fosters equality, professionalism, and the well-being of all employees.”

Winners of the award were selected from a pool of 130 nominees in 24 industries and were based on the results of a survey with employees that assessed the company’s workplace environment, HR practices, employee engagement, and job satisfaction. Vietnam had 27 companies on the list.

To be qualified, nominees had to meet all requirements of HR Asia, such as successfully completing the HR Asia Employee Input Survey™ (EIS) and the HR Asia Workplace and Employee Engagement Survey™ (WEES), which gauge a company’s employee turnover rate, employee growth rate, and workplace accident rate, among other matters. Deloitte Vietnam earned high scores in all three criteria.

A pioneer in the Advisory and Audit industry with almost 27 years of experience in Vietnam, Deloitte Vietnam is part of the global Deloitte network, one of the four largest professional services organizations in the world.

Deloitte Vietnam delivers value-added services in Risk Advisory, Financial Advisory, Tax, Audit & Assurance, and Professional Training to both the private and public sectors across a wide range of industries. It currently has more 900 professionals working at two offices in Hanoi and Ho Chi Minh City.

Considering talent as the most valuable asset, Deloitte Vietnam’s HR strategy focuses on delivering long-term values to employees through providing a professional working environment, attractive remuneration policies, and the conditions and opportunities for individuals to develop their own abilities.

The “Best Companies to Work for in Asia Awards” is one of the most prestigious HR awards and organized by HR Asia magazine, the most authoritative publication for HR professionals in Asia. The award has been organized for several years and covered 12 markets in the region this year, recognizing world-class corporations with high levels of employee engagement and excellent workplace cultures.

Source: Vneconomictimes

Where are Viber, LINE when the battle becomes fierce?

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Viber has been taking care of loyal customers, while LINE has set up an office and plans a return to Vietnam.

Grab is striving to become a ‘super app’ which not only allows users to hail taxis, but also makes payments and has other services. Zalo, a messaging app, has developed e-wallet, while Foody’s Now is planning to jump into the passenger transport market.

The race of the apps has raised questions about the fates of Viber and LINE, two apps familiar to nearly all Vietnamese before 2015. Viber once held 60 percent of market shares with 63 million users.

Their names have been less mentioned recently as more apps have appeared in Vietnam.

However, analysts believe that the ‘big guys’ won’t miss the Vietnamese market, the third largest populous market in Southeast Asia, which is the destination for many apps.

Viber recently has updated enhancements to help users improve their experience. The message transfer speed has increased by two times, while the interface for text and image display has been improved.

It has also declared end-to-end message content encryption, affirming that the content is secured by a third party and Viber itself cannot read the users’ messages.

Viber is considered less known than Messenger and WhatsApp. However, recent reports show that the number of Viber users has been increasing steadily in many areas in the world.

Analysts commented that with the updates, Viber focuses on taking care of loyal clients who use Viber as a messaging app, rather than thinking of developing new services.

Also from Japan, LINE is making heavier investments than Viber in Vietnam. LINE Vietnam’s headquarters is in HCMC which is built as a LINE global product development center (Tech Hub). The task of the center is attracting IT talents to build new strategic products.

Just days ago, LINE held a meeting with 50 IT developers in HCMC and it plans to organize four more events by the end of the year.

Luu Quynh Anh from LINE said the company plans to employ 60 more workers next year. LINE is not only a messaging app, but it also has many other products including LINE Today, Blockchain, LINE Pay, B612, LINE LIVE, Live Quiz Show and Games.

“In Vietnam, we are still learning users’ responses to improve the messaging app to serve Vietnamese in the best way,” Anh said.

However, Anh revealed that the messaging app is not the top priority for LINE when approaching Vietnamese users. LINE is preparing for a news website specifically developed by the company for the Vietnamese market.

According to a report on Vietnamnet

Foreign investors eye to e-wallet market

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Foreign investors have poured into Viet Nam’s e-wallet sector as they see huge growth potential in the market in the wake of the Government’s plan to reduce cash payments to below 10 per cent of the total payment transaction by 2020.

The State Bank of Viet Nam (SBV) licensed 27 non-bank institutions to provide intermediary payment services by the end of August, of which 20 offered e-wallets, including well-known names such as MoMo, Bankplus, Vi Viet, VTC Pay, WePay, Vimo, Ngan Luong and Payoo.

Most of the institutions have foreign investments, such as South Korea’s UTC Investment holding a 65 per cent stake in VNPT Epay, NTT Data holding 64 per cent in Payoo, Hong Kong’s Champion Crest holding 51 per cent of Amigo Technologies JSC, Thailand’s True Money owing 90 per cent of 1Pay and MOL Accessportal holding 50 per cent of Ngan Luong.

With the foreign investment capital, most e-wallet providers currently offer free or low-cost e-wallets in order to attract users. This explains why the transaction value via e-wallets has increased sharply in the recent time.

Though there is no official report from the SBV about the number of Vietnamese e-wallet users, service providers estimate that 10 million people in Viet Nam are using e-wallets, which is a modest figure compared with the great potential of the market.

Customers are also attracted to the payment method because it allows them to use mobile applications to quickly pay for goods and services in just a few seconds.

Despite the incentive policies of intermediary payment service providers, banks have not yet taken advantage of their potential strengths in e-payment.

Statistics of the Vietnam Card Association shows that there are currently 132 million ATM cards issued by banks. However, experts said that this number does not indicate that banks have been able to dominate the payment market of more than 90 million people, as the number of customers using ATM cards to pay online is even less than the 10 million that use e-wallets.

Banking expert Nguyen Tri Hieu said that similar to bank cards, the fees for e-wallets include fees for annual maintenance, money transfer, withdrawal, online payment, wallet management, transaction confirmation and balance information, which are similar to banks’.

Nevertheless, while banks charge most of these fees, most intermediary payment businesses accept losses in the first phase of operation as part of a long-term business strategy, Hieu said, adding that they had made thorough calculations to grasp the market.

If payment companies are able to attract more users, they could earn bigger benefits than the fees they could collect from services.

When the companies have a certain number of customers, they will then consider charging fees, Hieu said, warning that if banks don’t change their strategy, they will lose their share of the home market.

According to a report on VNS

Competition in ride hailing market enters new period

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After the departure of Uber, the battle in the ride hailing market has heated up with the participation of many newcomers.

Joining the market, FastGo and Go-Viet applied two major tactics – offering ‘next-to-nothing fee’ and using the motto ‘Vietnamese use Vietnamese apps’, Vietnamnet reported.

Go-Viet bears the management hallmark of Go-Jek and its Malaysian origin, but the brand still tries to win Vietnamese hearts by saying ‘buy Vietnamese’.

Meanwhile, its promotion campaign under which passengers only paid VND5,000 for trips less than 8 kilometers, caught special attention from the public.

After the departure of Uber, the battle in the ride hailing market has heated up with the participation of many newcomers.

The marketing formula proved to be effective. Nadiem Makarim, CEO of Go-Jek, said that Go-Viet has 35 percent of the motorbike hailing market share in HCM City, and the app has got 1.5 million downloads after six weeks of launching.

Meanwhile, the figure has raised doubts among analysts who commented that the figure is unbelievably high, and this could be just a ‘skill’ used by the brand to attract more drivers and investments.

FastGo, belonging to NextTech Group of Technopreneurs, has also been making every effort to attract customers.

By introducing its partner, the new strategic investor VinaCapital Ventures, FastGo wants to position itself as an e-hailing app developed by Vietnamese and supported by well-known financier.

While newcomers are running sale promotion campaigns, Grab is silently showing the firm stuff of a ‘giant’. While its rivals declare they have gained large market share and shown figures, Grab has not provided any figure, but affirms its market share is stable.

The app which dislodged Uber from Southeast Asia is carrying out community activities, upgrading services and running programs to increase customer experience on a technology platform that allows customers to use many types of services.

While its rivals state they have attracted thousands of drivers, Grab continues tightening management to heighten service quality. It permanently locks accounts of partners violating Grab’s code of conduct to ensure the safety of users.

While other apps do not care if their drivers serve 2-3 apps at the same time, Grab requests its drivers to use Grab only to ensure supply and service quality.

FastGo, after three months of operation, announced that it has 15,000 drivers and 50,000 registered customers in Hanoi and HCM City.

According to the General Department of Taxation (GDT), by October 2017, Grab had taken a loss in Vietnam. The company with VND20 billion in legal capital had incurred a loss of VND1 billion.

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