Vietnam’s Coffee Queen checkmates King in one court case

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A court ruled Thursday that the estranged wife of Trung Nguyen’s boss should be reinstated as deputy general director.
Le Hoang Diep Thao had filed a lawsuit against her husband Dang Le Nguyen Vu’s decision to dismiss her as coffee giant Trung Nguyen Group’s deputy general director, preventing her from taking part in running and managing the company.

In her lawsuit, Thao said that as Vu’s wife and co-founder of Trung Nguyen, she was a member of the group’s board of directors and owned 10 percent of its charter capital, as well as 50 percent of her and Vu’s common assets.

In May 2006, Thao was appointed Trung Nguyen’s deputy general director, allowing her to manage the company under Vu’s authorization.

Under her management, Trung Nguyen’s charter capital increased from VND150 billion ($6.5 million) to VND2.5 trillion ($108.7 million) and both the company’s annual revenue and profit grew significantly, Thao claimed.

However, in July 2014, Vu signed a decision to dismiss Thao as deputy general director without the board of directors’ approval. He also instructed his employees to demolish her office and block her from entering the company’s headquarters, Thao alleged.

Furthermore, he prevented Thao from performing her rights and responsibilities as Trung Nguyen’s shareholder and a board member, prompting her to file the lawsuit.

After failing to reconcile the couple, the HCMC People’s Court in September 2017 accepted parts of Thao’s requests and voided the decision Vu issued in 2014, reinstating her as Trung Nguyen’s deputy general director and ordering Vu not to prevent her from managing the company.

Both Vu and the Trung Nguyen Group appealed the ruling. Vu asked the court to quash the ruling and suspend the case while Trung Nguyen claimed that the issue was an internal dispute, not a commercial one for the court to adjudicate on.

At the Appeals Court on Thursday, Vu’s lawyer insisted that documents showed he had not prevented or hindered Thao from running the company.

The lawyer also claimed that Vu had already withdrawn the decision to dismiss Thao following the trial court’s ruling in 2017. As the object of the lawsuit no longer exists, the case is no longer under the court’s jurisdiction and should be suspended, she argued.

Thao’s lawyer, meanwhile, pointed out that the defendant’s claim that “the object of the lawsuit no longer exists” contradicts the decision to appeal the ruling.

He also asserted that Thao being prevented from running the company was evident from the fact that she was rarely invited to meeting and was not allowed to get involved in company’s contracts or meet its partners.

In addition to the lawsuit on deputy general directorship, Thao and Vu are also involved in several other legal disputes including their divorce, management rights over the Trung Nguyen Instant Coffee Company and a case filed against the head of the Business Registration Office under Binh Duong Province’s Department of Planning and Investment.

Ky Hoa report on  Vnexpress

Investors keen on local market

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Mr. Hironobu Kitagawa, Chief Representative of the Japan External Trade Organization (JETRO), Hanoi Representative Office, tells VET about Japanese investment in Vietnam.

How has Japanese investment to Vietnam been in recent times?

Japanese investment in Vietnam continues to increase. The total number of newly-registered and expanded projects is 601 with total investment capital of $8.7 billion. Japan became the largest investor in Vietnam in 2017, in terms of both project numbers and capital.

The total number of newly-registered and expanded projects in the beginning of 2018 was 293, a 4.6 per cent increase year-on-year. Total registered capital was $6.1 billion, up 25.9 per cent year-on-year, due to a large amount of capital for a smart city development project in Hanoi.

What sectors do Japanese investors invest in the most in Vietnam?

Vietnam has been attracting Japanese enterprises in recent years because it is not only a strong manufacturing location, with stable infrastructure and competitive labor costs compared to neighboring countries, but also because it is a market that has significant potential. It is expected that domestic demand will grow due to increases in market size, stable economic growth, and higher incomes.

Japanese enterprises are attracted by human resources and domestic demand in Vietnam, both of which are issues they must address in Japan. In the manufacturing and processing sector, investment opportunities in fields with low-cost labor and land areas will continue to increase.

What are the advantages and obstacles for Japanese enterprises when investing in Vietnam?

According to JETRO’s “Survey of Japanese Businesses in Asia and Oceania” released last year, the favorable conditions in Vietnam’s investment environment include market size and a stable political and social situation. Labor costs are also cheap. The risks, however, include rising labor costs, the incomplete legal framework, a lack of transparency in legal application, complex tax mechanisms and procedures, and burdensome administrative procedures.

How do you view the potential for economic cooperation between Vietnam and Japan in the future?

The importance of Vietnam is undoubtedly increasing for Japanese enterprises. Japan and Vietnam have had discussions on improving the investment environment, as part of an initiative to bolster investment. I think the abovementioned administrative issues can be improved to some extent. Creating transparent and fair rules based on international norms is a way to further bolster FDI in Vietnam.

In the JETRO survey of Japanese companies mentioned above, about 70 per cent of respondents said that they would like to expand their projects in Vietnam, which is a higher percentage than in other ASEAN countries. The percentage of companies considering Vietnam as a country where they would open branches or expand scale has increased for three years in succession.

In May, JETRO worked with the Ministry of Planning and Investment to hold the “Vietnam Investment Promotion Conference” during the State visit to Japan by State President Tran Dai Quang. While Japan and Vietnam celebrate the 45th anniversary of diplomatic relations, through the promotion of bilateral investment and deepening strategic partnerships, the goal is to further expand the business relationship between the two countries and enhance Vietnam’s new and emerging position. Investment licenses for three new projects in Vietnam were issued at the conference, and memoranda of cooperation on 13 investment projects were exchanged, as was one for an air navigation project. Vietnam and Japan expect to be able to promote further economic cooperation in the future.

Source: Vneconomictimes

Why you should visit Hanoi for Mid-Autumn festival

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Mid-Autumn Festival is the perfect opportunity to experience authentic Vietnamese culture, says Chris Dwyer.

An explosion of colour and a hugely-photogenic cultural celebration across Asia, Mid-Autumn festival may not be as well-known as Lunar New Year, but it provides just as good an excuse to visit countries which mark it in style. Of those, few are as memorable a destination as Vietnam, while the ancient capital of Hanoi is the ideal base for joining in the food and fun-filled festivities that this year fall on 24 September.

Vietnam’s Mid-Autumn festival is called Tet Trung Thu and has been celebrated for more than 4,000 years, having originally marked the end of the rice harvest in the Red River Delta around the capital. Parents were busy during the harvest, so the festival holiday at the end was a chance to spend time with their children. Fast forward four millennia and that means that kids are front and centre, while it’s also a great way for visitors of all ages to truly immerse themselves in traditional Vietnamese culture.

Children are front and centre of the Mid-Autumn festival (Chris Dwyer)

A 12-hour flight from London, Hanoi is a large and hectic city with roads that can be notoriously difficult to cross thanks to swarms of mopeds at every turn (if in doubt, just cross confidently and whatever you do, don’t stop). It pays to have a central base within easy reach of the main sights, something that means you also get to avoid Hanoi’s taxi drivers, not all of whom graduated from charm school.

Charm is definitely in abundance, however, at the Sofitel Legend Metropole Hanoi, the city’s most iconic hotel that has been welcoming illustrious visitors including Graham Greene and Charlie Chaplin since 1901. The colonial era building with its elegant white façade and dark green shutters sits right in the heart of Hanoi’s French Quarter, just a few minutes’ walk from the stunning neo-classical Opera House and the peaceful Hoan Kiem lake.

Elsewhere, the Unesco World Heritage Site Imperial Citadel of Thang Long definitely merits a visit. It provides a fascinating look at the city’s role as the centre of regional power for almost 1,300 years, while special events and exhibitions provide insights into the critically cultural significance of the Mid-Autumn festival.

Not unlike Christmas, much of the festival’s importance comes in the build-up and there’s no more atmospheric or Instagrammable spot to experience it than Hang Ma Street in Hanoi’s Old Quarter. Dozens of shops, stalls and walking hawkers sell a huge array of technicolor star-shaped lanterns and traditional toys hand-crafted in paper and bamboo. There are animal face masks that kids decorate and paint, while vast piles of drums give a not very subtle hint that you’ll be staying up late on Mid-Autumn Festival (whether you want to or not).

Traditional mooncakes are given a modern twist in some establishments

Speaking of which, when it comes to the big night, prepare for a brilliant sensory overload. Families gather together across the city as they seek out spots to watch the full moon – it represents prosperity and fullness in life – just one of many traditions that have passed down through the generations. Hanoi’s lakes and bridges in particular draw visitors in their tens of thousands. Paper lanterns soar skywards, there are street puppet shows, lion dances and live music, markets and incredible food at every turn.

Even on a normal day, Hanoi easily ranks as one of Asia’s finest eating destinations. The late Anthony Bourdain called Vietnam “My first love; a place I remain besotted with, fascinated by”. He was famously joined by President Obama for a bowl of bun cha grilled pork noodles at Bun Cha Huong Lien, now a popular stop on the tourist trail. Forget the seated photo opp, however, as the table in question is today encased in glass and hangs on a wall – but the bun cha is just as sensational as ever.

Eating at Mid-Autumn festival is largely about street food and snacks, so follow your nose – and other customers – to any intriguing, steaming bowl or grill. One dish that is absolutely fundamental to the Festival is known as mooncake, or Bánh Trung Thu. You certainly won’t miss them as they’re absolutely everywhere, and are offered by friends and family while celebrating – tuck in.

Round or square, they’re usually baked or occasionally made from sticky rice, with fillings that can include combinations of salted egg yolk, dried sausage, mung bean paste, sugared pork fat or lotus seed. As you can guess, they’re not exactly diet-friendly. Increasingly, however, there are more contemporary and slightly less decadent versions on offer, so look out for caramel with dried fig or pistachio and coffee flavours, both on offer at L’Epicerie du Metropole.

While the flavours and some of the customs of the Mid-Autumn festival have transformed over the years, this is still a hugely special time to visit Hanoi. The cooler and milder weather, the rich cultural kaleidoscope and one of the country’s biggest national holidays all combine to ensure that there are few better chances to get to know the Vietnamese capital like a local.

According to a report on Independent

Traders Fair & Gala night Vietnam 2018

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Stocks, Forex, cryptocurrency, futures&options – Fantastic show like nowhere!

Timing: November 24, 2018

Location: Ho Chi Minh, Vietnam (Windsor Plaza Hotel, Saigon)

Traders Fair & Gala night – financial event for traders and investors, which is going to take place in Vietnam on the 24th of November 2018 (Windsor Plaza Hotel, Saigon). The best trading experts, companies, money brokers and banks from all over the world are going to share out their experience and to find out new up-to-date information about cryptocurrency, forex, stocks, futures and options markets. Also Traders Fair & Gala night is going to be full of educational programs and entertainment. To register online now for free, you should visit https://vietnam.tradersfair.com

Traders Fair & Gala night, Vietnam is attracting the world of traders to one place during one day. This is the confluence of favorable conditions in one system, which brings profit to its participants. The leaders of the industry are going to come together in one place and to have an exchange of knowledge and experience. No doubt you need expertize and capital to work in the stocks, futures, options and forex markets as it will become the initial ticket to the world of big trade. Participants who have capital while entering the market become investors. And you may be a part of this fabulous event! Educational speeches from top speakers, entertainments, live shows, music and incredible prizes included in the agenda.

Traders Fair & Gala night – Vietnam is organized by FINEXPO, which is the largest company organizing financial and trading events, fairs, expos and shows worldwide since 2002. List of its projects seems quite long. Here you can find Financial Expo, Traders Fair, Traders Awards, Forex & Money Expo, Forex Expo Awards, Money Fair, Investor Expo, Golf Expo, Banking Expo, Online Trading Expo, etc. Over 30000 traders, investors and financial advisors and more than 3 000 financial companies and brokers from Forex, stock, option, bond crypto money and forward markets from all around the world have been connected by FINEXPO. The positive feedback from participants is the best prove of effective and successful work done by FINEXPO.

Traders Fair & Gala night is sponsored by leading brands such as Australian Forex Marketplace (Grand sponsor), FIBOGroup (Silver sponsor), RPNPay, OlympTrade. To say more the organizers of event offer you different variants of recommended accommodation, so you can focus on agenda and don’t lose you time, thinking about accommodation and everything.

You are welcome to visit https://vietnam.tradersfair.com to find out more information about Traders Fair & Gala night.

‘Miss Saigon’ kicks off U.S. tour at PPAC

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Since its premiere at the Theatre Royal in London in 1989, “Miss Saigon” has become a legendary musical shown in theaters all over the globe to high acclaim.

The impossible love story of a young Vietnamese woman, Kim, and an American G.I., Chris, has captivated the hearts of audiences for decades. The show has won numerous awards, including three Tonys, and had the 13th-longest-run in Broadway history.

With much anticipation, producer Cameron Mackintosh and creators Claude-Michel Schönberg and Alain Boublil have revived the musical and are embarking on a national tour, starting at the Providence Performing Arts Center on Friday.

“I’ve always found Providence to have the space for us to take time to get a show up properly, which you don’t always get in other markets,” Mackintosh said about the choice of PPAC for the show’s premiere.

“The Providence Performing Arts Center was actually built for ‘Miss Saigon,’ as it was built for ‘The Phantom of the Opera.’ Those were the two shows of mine … 25 years ago, when the theater was thinking of expanding the cinema stage into a full Broadway stage,” he said. “I feel very proud to be a catalyst in this city and how it has thrived on the back of what was a gamble for them. For the big shows, there’s a terrific local audience.”

Highlighting the cast is Emily Bautista playing Kim, Anthony Festa in the role of Chris and Red Concepcion playing The Engineer.

“It was hard; it took over a year,” Mackintosh says of finding the right cast for this run. “One of the problems with casting ‘Miss Saigon’ in America is that there are second and third generations of Asians that have completely assimilated themselves into American culture.

“That doesn’t completely translate to the central concept of ‘Miss Saigon’ due to the mistakes and the horrors happening. So in casting, we have to find people who are genuinely Asian, so it’s a different culture. That’s much harder to find because people are so assimilated to the American way of life.”

Mackintosh continued, “We’re often finding, as we did with our original star, Eva Noblezada, who we had in London after finding her in a high school in America, that Filipino culture fits in well with casting. If it weren’t for them, then ‘Miss Saigon’ would have never had the run it did.

“There’s something about their background, that they were a Spanish colony and then an American colony, and yet they’re still very much an Asian country.

“Take it to this material, and bring both the technical ability to deliver a big score like this one to a Western musical, while at the same time they understand the story from the nature of their culture.”

Sometimes a great musical or a play can reflect the times of today, no matter if it was written 30 years ago. Both Schönberg and Boublil believe that ‘Miss Saigon’ still has cultural significance and relates to the current political and social climate.

“The story of ‘Miss Saigon’ is timeless,” Schönberg said. “It’s about the sacrifice of the mother for her child. This has been existing for thousands of years and it will continue to exist for thousands of years.

“That’s basically the story we wanted to have, while at the same time it’s the story of two people from totally different cultures falling in love. Using the background of the war in Vietnam in 1975, and people leaving the dictatorship and an oppressive regime, is more relevant than ever. It’s more relevant than it was even 10 years ago.”

Schönberg continued, “When we wrote it, it was the very end of the Communist regime in the Soviet Union and the world was split in two parts. Today, you have so many places in the world where similar things are happening, like in Syria, Afghanistan, Libya, all of Africa and Venezuela, for example.

“I think that everybody understands that when you are leaving a country where you don’t know if you’re going to eat, you want freedom and you want to survive. We have the American dream, but to others it can be the European dream or the British dream or the Colombian dream for the people living in Venezuela.”

Boublil added, “If you take this story from the prospect of The Engineer, he’s someone who organizes things to his advantage because he believes more in his version of the American dream than anyone else.

“It’s a kind of crooked version of it, and today there are ‘engineers’ everywhere trying to help people all over the world go from one country to another one which is supposedly a happier place.

“I see these ‘engineers’ everywhere on television. They are these people who think they can take advantage of a difficult situation.

“The character in the show has all these faults because he’s a pervert, and at the same time he has the purity of his beliefs. What he believes in is that having more money or having more of everything makes you a better man. He can’t be more perverted, but at the same time, I see many people like that on television today.”

According to a report on Providence Journal

HCM City apologises to local residents for shortcomings at Thu Thiem project

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The municipal People’s Committee organised a press conference yesterday morning to take responsibility and apologise to local residents about the situation in the Thủ Thiêm New Urban Area.

“The HCM City People’s Committee sincerely apologises to residents, especially households on an area of about 4.3 hectares outside the planning zone in District 2’s Bình An Ward,” said Võ Văn Hoan, head office and spokesman of the city People’s Committee.

“The committee is taking responsibility with the Prime Minister and the Government because it did not follow what was approved,” he added.

“The city will seriously implement all conclusions of the Government Inspectorate and deal with complaints about Thủ Thiêm New Urban Area in District 2,” he said.

“All will be done in accordance with laws, to ensure people’s rights, and maintain the benefits of the State, investors and individuals who are using land in district 2.”

The city will review each case, especially the households on an area of about 4.3 hectares outside the planning zone in District 2’s Bình An Ward to offer compensation, support and resettlement support for the people.

At the conference, the committee pledged to meet with representatives who had sent complaints about land violations in the Thủ Thiêm New Urban Area. They will complete their compensation policy before November 30.

Trần Vĩnh Tuyến, deputy chairman of HCM City People’s Committee, said that the city would review Thủ Thiêm’s compensation and if they discovered violations, the land would be auctioned for compensation.

Tuyến also pointed out that the master building plan for Thủ Thiêm had been taken many years, and there had been many mistakes.

“The current administration will try to fix these mistakes,” he said.

The city will review and handle organisations and individuals involved in the approval of planning and adjusted plans for land acquisition, compensation and resettlement, as well as those charged with archiving records, documents and maps.

“All organisations and individuals in violation will be fined before November 30,” Hoan added.

Tuyến reported that more than 100 households on 4.3 hectares outside the planning zone in District 2’s Bình An Ward of around 14,500 households in Thủ Thiêm have been complaining for years, saying that their land outside the zone was approved by the Prime Minister in 1996 but had still been cleared.

“The city will focus on reviewing and offering compensation for them,” he said.

However, local authorities have not been able to identify the exact border of the 4.3 hectares outside the planning zone to decide who gets compensation.

“District 2 is calculating business areas or markets for local residents to earn a living. The compensation policy is being drafted and will soon be submitted to the city,” Huỳnh Thanh Khiết, deputy chairman of District 2 People’s Committee, said.

On September 7, the Government Inspectorate blamed the HCM City People’s Committee, the Ministry of Construction and the Government Office for shortcomings in submitting, evaluating and advising resettlement areas in the Thủ Thiêm new urban area.

The Government Inspectorate’s conclusion related to complaints made by residents of Thủ Thiêm in HCM City’s District 2 also showed that site clearance and resettlement compensation procedures might have been violated.

According to the inspectorate, Thủ Thiêm was designed to be a modern, sustainable urban area with regional scale and standards.

However, during the process of implementing the project, the city’s People’s Committee and relevant departments had allowed wrongdoings, prompting complaints from residents.

The inspectorate said that the Prime Minister’s Decision No.367 approving the master plan for the new urban area was competent and effective.

However, the city’s People’s Committee, the Ministry of Construction and the Government Office had allowed the plan to be extended by 10 hectares compared to the area assessed by the MoC.

Some important files attached to both Thủ Thiêm and a 160ha resettlement area were reportedly missing.

Another document submitted by the city asking the Prime Minister to issue a decision to recover the entire area of land planned for Thủ Thiêm reportedly lacked exact boundaries and the location of the resettlement area.

The inspectors also found that the implementation of some projects inside the Thủ Thiêm new urban area lacked a legal basis.

The Government Inspectorate also pointed out that the process of compensation, site clearance and resettlement assistance had seen many violations, such as improper implementation of the 2003 Land Law, no plan for compensation and ground clearance, and no plan to build a resettlement site prior to site clearance, resulting in complaints about compensation and support policies.

The municipal People’s Committee’s plans for the recovery and allocation of land for the construction of resettlement areas were found to be incompetent, violating regulations such as not having resettlement sites in place in accordance with the plan approved by the Prime Minister.

More seriously, the Government Inspectorate also pointed out that the People’s Committee had violated the law by formulating, submitting and approving a plan to revoke the 160ha of resettlement land approved by the Prime Minister.

As a consequence, the development of the area was stalled by residents’ complaints.

According to a report on VNS

5G will transform Vietnam’s economy

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Denis Brunetti, president of Ericsson Vietnam, Myanmar, Cambodia, and Laos sheds light on the preparation for 5G, and how the technology will benefit Vietnam and its industries, and accelerate the Fourth Industrial Revolution.

Can you tell us about Ericsson’s preparation for the launch of 5G networks globally and in Vietnam? How is it going?

We are expecting the commercial launch of 5G globally later in the year. The North American market will be first, followed shortly thereafter North East Asia. The commercial launch in Vietnam will likely be in 2020-2021 timeframe, with trials beginning as early as in 2019.

In terms of preparation, there are a lot of planning ongoing. It’s important to understand that 5G, unlike its predecessors, requires a lot more collaboration between governments, enterprises, and Ericsson as the vendor. 5G impacts enterprises and industries more than its predecessors, which were more about personal communication and the more pervasive use of the internet over mobile devices. 5G moves into the enterprise space and digitally transforms industries.

For that reason, there would require more co-operation, collaboration, and planning by enterprises as well as education institutions to make 5G a reality. The latter needs to work on vocational training, data science, and other things that will be required to stimulate the capabilities needed for future jobs.

Most people think that implementation of 5G technology would be complicated in Vietnam. What are your thoughts on this? And what are benefits can we expect from the new technology?

In fact, Ericsson has made implementation easy. 4G technology was introduced in Vietnam in 2015, and we have 50-per-cent of the market share in 4G across operators in the country. That technology is 5G-ready as the radios can be upgraded to 5G with remote software installations. So when we launch 5G, we can unleash it across the current 4G infrastructure.

Industries that will benefit the most from 5G are those that can leverage on the high speeds, ultra-low latency, and ultra-high reliability that 5G provide to create innovative products or services. 5G and the Internet of Things (IoT) will bring digital transformation to all industries. These technologies will digitally transform all other industries, making them more efficient, more cost-effective, more affordable, and more accessible to more people.

5G also has the potential to drive new revenue streams. Ericsson’s 5G Business Potential report estimates that for Vietnam, there will be an additional $3.17 billion in revenue opportunities for telecom operators addressing industry digitalisation with 5G technology. The largest opportunity for operator-addressable 5G-related revenues will be in the manufacturing and energy and utilities sectors. We want to help operators realise the value of 5G as well as support the acceleration of the Fourth Industrial Revolution for the benefit of Vietnam.

How will 5G technology affect the need for cybersecurity?

Cybersecurity is always important, of course, especially in Vietnam, where last year, you had 13,000 cyber-attacks on enterprise websites. Half of those were malware attacks. The government is aware that with 5G, such attacks could have an even greater impact, as they would affect mission-critical applications, for example in autonomous vehicles, drones, and mobile health. Clearly, cybersecurity is important here. That is why at Ericsson, we follow the concept of ‘Security by Design’. That means we build security into our products from the very beginning, we don’t wait until later. That security needs to be end-to-end, because it has to cover the network, the devices, and the applications.

How are you planning to support the Vietnamese market further?

Clearly, the expansion of our 4G networks and the planning for the 5G launch are the preparation for the future and are accompanied by startup support programmes. But training and education are also important for the future. The current forecast is that 56 per cent of the ASEAN’s workforce will be displaced as part of the Fourth Industrial Revolution. That doesn’t mean they will all lose their jobs. In fact, thousands of new jobs will be created in the region. So it means that jobs and workers are transferred to new areas that require different set of skills to adapt with the transformation. As most manufacturing workers, especially in Vietnam, are women and will be most affected by this, we also plan to bring more education and skills to women as part of a ‘Women in ICT’ programme. We’re proud to be an industry leader in Vietnam and we’re committed to contributing to the country’s development for the next 25 years and beyond.

According to a report on VIR

Japanese expats at ease in Vietnam

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After moving to Vietnam to work in the most vibrant city in Vietnam, Ho Chi Minh City, in 2016, 30-year-old bank officer Ms. Sasaki Kaku has decided she will try to live here as long as possible.

“I came to Ho Chi Minh City after graduating after finding a job a Vietnamese friend from university told me about,” she said. “I wanted to challenge myself with a new life away from home and with differences in culture.”

Initial impressions

Like other foreigners, Ms. Kaku’s biggest difficulty has been the language. Working for a foreign bank, it’s not a problem at the office as she communicates with staff and business partners in English, and most people she deals with are foreigners. But it’s a different story outside of the office.

“Vietnamese is very complex in both vocabulary and grammar,” she said. “Vietnam is famous for its street food and culture, but the language barrier can be a problem.”

But Ms. Kaku quickly adapted by making many Vietnamese friends. “I learn Vietnamese from friends or by chatting on Facebook,” she said “After just a year, though I wasn’t fluent, I was able to communicate and am now quite confident about my Vietnamese skills.”

Living in Vietnam for a year already because of her husband’s job, Ms. Kobayashi Kami also had difficulty with the language when she first arrived. She lives in Hanoi, is pregnant, and teaches Japanese at a Japanese center near her apartment.

“When I want to explain a new word to my students, I often use of my English skills, a few Vietnamese words, and body language, or get help from the teaching assistant,” she said.

But she has learned a lot of Vietnamese from her students and teaching assistants. “When we have a break, I talk to my students about their daily lives, good restaurants, famous street food, and places I should visit in Hanoi and elsewhere.”

While Ms. Kaku and Ms. Kami have had language difficulties while living in Vietnam, office worker Ms. Yamamoto Ohio has been in Vietnam for eight years and remembers that when she first moved here it was the traffic that concerned her. She even had trouble crossing the street.

“I felt that everything was moving too quickly and that drivers seemed like they wanted to crash into me,” she laughed. Eight years on, the traffic is no longer a problem and she hopes to live here for quite some time.

Not only Japanese but most other foreigners living and working in Vietnam have common difficulties in the language and the traffic, but after a while adapt and love Vietnam more and more.

Good place to stay

Many Japanese say that Vietnamese are so friendly and helpful, which helps them quickly settle into an unfamiliar environment. Their friendliness first made a strong impression on Ms. Kami when she studied with Vietnamese students in Japan. “Some students at the Japanese center have become my friends,” she said.

“They help me practice Vietnamese, take me to good restaurants, introduce me to their friends, and show me the local culture and scenery.”

A large number of Japanese have fallen in love with Vietnamese and gotten married, like Ms. Ohio. As well as being married to a Vietnamese man, she has found other reasons to love life in Vietnam.

“My husband was my first Vietnamese friend and took me around on his motorbike to help me get accustomed to the traffic,” she said. “Like many Vietnamese, he was just so friendly.”

As well as friendly people, Vietnam also boast a multitude of delectable food that most foreigners love, such as “pho”, “bun cha”, and “banh my” (bread). Mr. Suzuki Kawajiri has lived in Hanoi for two years and said Vietnamese food made a strong impression on him as soon as he arrived. “There’s plenty of choice, including cheap and high-end food, and they’re all delicious,” he said.

He has a special fondness for Hoi An bread and also egg coffee, which he drinks in the Old Quarter. When he sips on a cup of coffee on the weekend and looks around, he finds Hanoi to be quite peaceful.

Another attractive feature of Vietnam for many Japanese is its beautiful scenery. “Vietnam also has different habits and customs, which stoke my curiosity,” Ms. Kaku said.

“I love Sapa with its cold weather and Dao children, and the peace of Hoi An.” She hopes to live in Vietnam for a long time and explore its culture and visit famous destinations.

Many long-term Japanese expats say the cost of living in Vietnam is more reasonable than elsewhere in the region, including Ms. Ohio, whose salary more than covers her needs. There are different options to choose from, she said, depending on need and cost.

More foreigners have been coming to Vietnam recently, especially Japanese and South Koreans, as the country pulls in more investment. The Japanese have created large communities in main cities, with most Hanoians thinking of Kim Ma Street, Linh Lang Street, and Dao Tan Street in Ba Dinh district as having many Japanese people. There’s also a Vietnamese-Japanese Cultural Center on Nui Truc Street, off Kim Ma, where people can study the Japanese language, and the Embassy of Japan is on Lieu Giai Street, off Kim Ma and near Dao Tan and Linh Lang.

The number of Japanese living in Ho Chi Minh City is also rising and Japanese culture is even more easily found than in Hanoi. “Little Japan”, an area bounded by Le Thanh Ton, Ngo Van Nam, Thai Van Lung, Thi Sach, and Hai Ba Trung Streets in District 1, and Japan Oishi Town are the two biggest and are popular among Japanese and Vietnamese alike.

Not only does Ms. Kaku want to stay a long time in Vietnam, she also wants to change the way Japanese think about the country. “Japanese that have never been Vietnam think its polluted and that some Vietnamese are untrustworthy,” she said. “I know better – this is my second hometown.”

According to a report on Vietnam Economic Times

Vietcombank secures approval to increase charter capital by 10%

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Vietnam’s largest lender by market value Vietcombank (VCB) has secured the approval to increase its charter capital – or capital structure of a shareholding company – by 10 per cent under the private placement plan, according to an announcement by the State Bank of Vietnam (SBV) on September 19.

Under this decision, Vietcombank is allowed to increase its charter capital from VND35.977 trillion ($1.54 billion) to VND39.575 trillion ($1.7 billion). “Vietcombank is responsible for raising charter capital in accordance with the law,” the SBV said in a statement. “This decision is valid for 12 months from the signing date.”

The shares will be offered to foreign institutional investors with financial strength, which may include one or more existing shareholders of Vietcombank and no more than 10 investors.

In April, the Hanoi-based lender said, it would offload a 10 per cent stake to a maximum of 10 foreign investors in the first half of this year after it received government approval for the sale.

Earlier, the Nikkei Asian Review reported that Singaporean sovereign wealth fund GIC Private Limited was likely to become a significant shareholder in Vietcombank when the latter offloads a 10 per cent stake to foreign investors after receiving government approval.

Vietcombank Chairman Nghiem Xuan Thanh said, Japan’s Mizuho Bank, the bank’s largest foreign shareholder with a 15 per cent stake, is entitled to buy more shares to maintain its holding at the bank.

Vietcombank is one the few banks with foreign ownership of 9.12 per cent stake while the ratio in state banks is capped at 30 per cent. With the aim of increasing capital through issuing shares, the bank earlier expected to complete the transfer of 7.7 per cent stake to GIC in 2016. The deal, however, failed due to disagreement on the share price.

Not only Vietcombank, other lenders in the country are also seeking to increase their charter capital. The Bank for Investment and Development of Vietnam (BIDV) earlier announced its plans to increase its charter capital this year by 28 per cent, compared to the end of 2017.

Meanwhile, the World Bank’s International Finance Corp (IFC) is seeking a buyer for its stake in Vietnam Joint Stock Commercial Bank for Industry & Trade, the country’s third-largest lender by market value, according to Bloomberg.

According to a report on Dealstreetasia

British university funded by M’sian bank in Vietnam opens doors

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EXPORT-Import Bank of Malaysia (Exim Bank) witnessed the official opening ceremony of British University Vietnam (BUV) Ecopark Campus which the bank financed under its Overseas Project Financing Facility.

Vietnamese Education and Training Minister Phung Xuan Nha officiated at the event which was attended by officials from the Vietnam government, BUV board members and Exim Bank representatives.

Among them were Education and Training Deputy Minister Nguyen Van Phuc, BUV chairman Sir Graeme Davies, BUV board member Datuk Loy Teik Ngan and Exim Bank president and chief executive officer Norzilah Mohammed.

The university is located in Hung Yen Province about 10km from Hanoi’s city centre. This state-of-the-art campus took three years to build and accommodates up to 3,000 students.

At BUV, students will be exposed to teaching methodology and learning experiences structured according to British standard format and programmes, ensuring quality graduates for the markets.

According to Norzilah, BUV is another milestone for Exim Bank in penetrating the global education market in support of Malaysian investors and exporters.

“In 2017, Exim Bank extended its credit support of RM16.2bil for financing and insurance to 12 primary key sectors under the national key economic areas.

“We also extended RM2.05bil in financing and insurance to support the small-and-medium enterprises (SME) segment,” she said.

Exim Bank was incorporated in August 1995, and is wholly-owned by the Malaysian government.

According to a  report on Thestar

The biggest ever mountain marathon to start in Sapa, Vietnam

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The Vietnam Mountain Marathon (VMM), the country’s biggest ever mountain race, is scheduled to start on Friday in Sapa, Lao Cai Province.

From just a small handful of Vietnamese runners who took part in the first edition, the event has grown to include 3,400 runners from 54 nations this year. Organisers expect 40 per cent more runners than took part in the previous edition. VNS reports.

“We created this race because of our love for the mountains, so it is fantastic to see more and more runners from Việt Nam and all over the world, including elite ultra running champions, enjoying the beautiful landscapes of the north and sharing our passion for the area,” said race director David Lloyd.

The event kicks off with an expo in Sa Pa Square on Friday with live music, talks by experts and booths from sponsor California Fitness and international brands Salomon, Garmin, Hammer Nutrition and Decathlon.
The 100km race starts at 10:00 on Friday evening, with participants set to run through the long, dark night among the highest peaks of Vietnam.

Throughout Saturday runners in the 70km, 42km and 21km contests will race through stunning rice terraces and local villages.

The finish line is at Topas Ecolodge, recently named the best place to stay if you care about the environment by National Geographic.

Top runners

Last year, Trần Duy Quang took first place in the 100km category and became the first Vietnamese runner to win the ultra distance race. However, with a host of top class runners coming from overseas this year, victory for Việt Nam will not be easy.

Home-grown talent Nguyễn Minh Tuấn, the Vietnam Jungle Marathon champion, faces strong competition from a host of runners including Italy’s David Gianelli, champion of the Mesatsila Peak Challenge 100km race, Great Britain’s Robert Butcher and Regis Caberet of France.

Competition in the women’s 100km field will be just as strong, with no fewer than five ultra champions facing off.

Nathali Cochet of France, winner of the 2016 VMM 100km race, will be up against Marieke Dekkers of Holland, champion of Malaysia’s Penang Eco 100 km. Other contenders include Agustoralin Sabanal of the Philippines, winner of the Rizal Mountain Run 50km and Evelyn Lek of Singapore, winner of the Magnificent Merapoh Trail 100km.

The host nation also has a champion in the mix – Nguyễn Thị Đường, winner of Vietnam Jungle Marathon. Her compatriot Lê Phương Vy will also be one to watch.

In the 70km race, famous South Korean runner Jisub Kim will attempt to repeat his fabulous performance from 2017, when he set the record time on the 42km course. He said he aims to take the record for the 70km race this year before returning in 2019 to tackle to 100km course.

VMM has a charitable focus, donating thousands of dollars since 2013. This year’s race will see more than US$38,000 divided between Operation Smile and Newborns Vietnam, local charities around Sa Pa.
Founded in 2013 by Topas Travel, VMM is one of the biggest ultra-running events in Asia and the landmark event on the South East Asia calendar.

VDSC Weekly Market Recap: LTG, VNM, VHC, GMD, PVD, KSB, MWG

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Though it feels good be back above the 1,000 mark on improved liquidity, I also feel we are seeing some market complacency regarding the escalation of the trade war between the US and China. The tariffs that were announced by both sides during the week come into effect next Monday (24 September).

Looking at global markets performance, it seems investors believe tariffs are not as harsh as originally suspected. Vietnam may benefit if it leads to more foreign direct investment (FDI) flowing to the country as multinational companies diversify their supply chains away from China.

This week, the VNIndex broke through and managed to remain above the psychological barrier to close the week at 1,002.97 points on Friday. For the week, the market was up 1.2% and liquidity increased by nearly 38%!

Flows seem to be gravitating towards large-cap stocks. Oil stocks led the market for most of the week on rising oil prices. GAS was on the way to create a new high, and PVD had received positive consensus.

Foreigners turned net sellers on Friday, divesting VND783.9bn (USD34mn) which focused mainly on offloading MSN, NVL and VCB. So for the week, foreigners were net sellers for a total of USD26mn worth of equity.

In other news:

Domestic banks are finally reducing their cross-ownerships to less than 5% as per Circular 36/2014 / TT-NHNN. Among them, Vietcombank (HSX: VCB) announced that it would auction its 53.4mn shares of Military Bank (HSX: MBB), equivalent to a 2.47% ownership of MBB. The starting price is VND19,641 per share. The auction will be held on 15 October. With the price, it is estimated that VCB will earn over VND1.048tn from this auction. Earlier this week, Vietcombank also announced it will hold an auction to sell the shares it owns in Eximbank (HSX: EIB) on 22 October. The number of shares to be auctioned will be 45.6 million shares with the starting price of VND14,497 per share. At this price, Vietcombank is expected to earn over VND661 billion. Up to the beginning of 2018, Vietcombank holds over 101.2 million shares of EIB. If the deal is successful, Vietcombank’s stake in EIB will drop to 4.5% of chartered capital.

Analyst Pinboard

Growth Opportunity for Textile & Garment Companies

  • According to the General Statistical Office (GSO), the export turnover of the textile & garment industry for the first eight months of 2018 is estimated at USD19.4bn, an increase of 14,9% YoY.
  • We assumed that this uptrend will last in the future
  • Besides, many of global brand names such as Adidas, Puma, and Nike have been moving garment orders from China to Vietnam to take advantage of the free trade agreement.
  • Among the companies in the industry, TCM and STK are distinct players because they meet the rule of origin from yarn onwards as required by the CPTPP agreement.

Cab driver helps mum-to-be to give birth en route to hospital

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A cab driver in the central province of Ha Tinh had helped a mum-to-be to give birth in the cab on the way to hospital.

Managers of Mai Linh Transportation Company in Ha Tinh Province yesterday praised driver Nguyen Dang Ngu for helping mother-to-be to deliver the baby safely.

Driver Ngu picked the pregnant and her relative up at their home in Cam Lac commune and took them on the short drive to the local infirmary.

However, by the time they got there, the driver realized the pregnant woman would be able to give birth soon; so he and her relative have helped her deliver the baby in the backseat of a taxi on its way.

The baby boy was born weighing a healthy 3.5 kilogram.

The driver was quick to continue the journey to the hospital

Thanks to the taxi driver, the new-born baby and the woman were both treated in time and ended up in a stable condition.

Driver Ngu said this is the first time he has helped a mother-to-be to give birth.

According to a report on SGGP

iPhone XS Max may be priced at over 40 million in Vietnam

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Some retailers have predicted that iPhone XS Max may be priced at over VND40 million when it hits the Vietnamese market, the highest price ever for an iPhone.

The impressive launch of iPhone XS Max, the model with the largest ever screen and the highest retail price, has become the main topic of discussion on youth forums.

As the manufacturer stated that iPhone XS and XS Max will hit shelves from September 21, observers think the first products may be available in Vietnam one or two days later.

“iPhone XS Max will be the hottest model of the trio,” said Cao Anh Lai from Aple Shopdunk, a retail chain.

Lai predicted that iPhone XS Max would be priced at VND45 million on the first days in Vietnam and the selling price would stabilize after 10 days.

“iPhone XS Max is expensive, but its price is not much higher than iPhone X which was released last year,” Lai said, explaining why he believes the flagship will be selling like hotcakes.

“The buyers of iPhone XS Max are high income earners, who do not care about the minor price gap of several million dong,” he said.

Mai Trieu Nguyen, director of Mai Nguyen retail chain, also believes that iPhone XS Max will be the best seller in Vietnam, simply because this is the most special model with the most powerful configuration.

“I think iPhone XS Max will be the most wanted model this year,” he said.

“In 2017, Vietnamese chose iPhone X, the more expensive model, rather than iPhone 8 which had lower price,” he explained.

Meanwhile, Minh Tuan from Minh Tuan Mobile predicted that the retail price of the first products in Vietnam would be between VND35-40 million.

At the launching ceremony on September 12, Apple for the first time introduced the dual sim version. However, only the product designed for the Chinese market contains a SIM tray which holds two physical cards.

Meanwhile, other markets will use one physical sim and one e-sim.

This means that all the iPhones imported to Vietnam, including genuine products to be distributed by authorized resellers which bear VN/A code, won’t be able to use 2 sims because Vietnamese mobile operators still don’t support e-sims.

Therefore, some retailers said they are considering collecting dual-sim iPhones from China rather than buying iPhones at retail shops in Singapore and Hong Kong as they did in previous years.

According to a report on Vietnamnet

Techcombank named “The Best Bank in Vietnam 2018” by Euromoney

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The well-known financial publication Euromoney recently announced their “Awards for Excellence 2018”. The event attracted the participation of financial institutions from nearly 100 countries worldwide. Techcombank was the recipient of the award for the “Best Bank in Vietnam 2018.”

According to Euromoney, Techcombank earned the “The Best Bank in Vietnam 2018” award as a result of the bank’s outstanding performance across all consideration criteria: sustainable development, business performance, risk management, information technology, management quality, and contribution to the local financial and banking market. Other criteria include total revenues, total assets, profit before tax, and net income.

Euromoney’s “Awards for Excellence” are among the world’s most highly acclaimed honors in recognition of superior banking performance in the industry. There are more than 20 categories for international awards, and the “Best Bank” awards are presented to leading banks in nearly 100 countries. The awards celebrate institutions and individuals for their leadership and commitment to outstanding development in their respective markets. Euromoney considers both qualitative and quantitative factors in bestowing the awards to ensure fairness and to enable the banks to showcase their strengths.

On the award, Techcombank’s CEO Nguyen Le Quoc Anh said, “The Best Bank in Vietnam 2018”award conferred on us by Euromoney reaffirms our leading position in the Vietnamese banking sector. Our achievements in recent years, and especially our business results in the first half of this year of VND 5,196 billion in profit before taxes, nearly twice as much as what we earned in the same period last year, reflects our successful pivot to the customer-centric strategy and ongoing transformation. We will continue to invest in long-term development of our team members, leverage technology to service and delight our customers. Finally, the investments in technology, people development, will enhance our risk management, operational effectiveness which will enable us to maintain and extend our market leadership position.”
At the end of the first half of 2018, Techcombank reported return on average equity (ROAE) andreturn on average assets (ROAA) of 24.3% and 3.2%, respectively based on the previous 12 months. The bank’s Total Operating Income (TOI) rose by 20.1% compared to the same period last year with non-interest income contributing 41.7% of TOI.

In April 2018, Moody’s Investors Service (Moody’s) raised Techcombank’s rating to “B1” with a “Stable” outlook, on par with Vietnam’s sovereign rating. At the same time, Standard & Poor’s (“S&P”) increased Techcombank’s capital and income ratings to “Average”, the highest among rated Vietnamese banks. Additionally, Techcombank has also been recognized as one of the Top 2 Best Places to Work in Vietnam by Anphabe for two years in a row, which reflects the bank’s success in attracting and developing talent.

About Euromoney:

Euromoney is a prestigious economic magazine in finance and international capital markets, and has been considered the voice of such markets over the last five decades. It covers major developments in global bond, capital and foreign exchange markets. Its publications are printed and distributed across the world. More than 25,000 copies of the magazine are sold every month, attracting special attention from investors and bankers in all continents.

About Techcombank

Established in 1993, Techcombank is one of the largest joint stock banks (JSBs) in Vietnam, and one of the leading banks in Asia. It provides a broad range of banking products and services to approximately 5.4 million customers with an extensive network of 315 branches across Vietnam.

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