Index up 0.92% as all main indexes close in positive territory.
The VN-Index broke through the 1,000-point mark for the first time in more than three months on September 20.
On HSX, the VN-Index ended the day at 1,004.74 points, up 9.20 points (0.92 per cent), while the VN30-Index closed at 971.18 points, up 8.48 points (0.88 per cent).
On HNX, the HNX-Index finished at 115.06 points, up 0.86 points (0.75 per cent), the HNX30-Index 212.25 points, up 2.29 points (1.09 per cent), and the UPCoM-Index 52.99 points, up 0.53 points (1.01 per cent).
Liquidity on HSX was VND3.9 trillion ($167.6 million) and on HNX was VND769.7 billion ($33 million).
Food and beverage stocks to gain ground included BHN, by 0.1 per cent, as VNM lost 1.3 per cent and KDC, SAB and VCF closed at their opening price.
Gainers in banking included TCB, VPB, EIB, CTG and VCB, by 5.3, 3.4, 2.5, 2.4 and 1.7 per cent.
In energy, PVD gained 4 per cent, GAS 3.5 per cent, PPC 1.4 per cent, PLX 0.8 per cent, and NT2 0.8 per cent, as PVT closed at its opening price.
The Top 5 shares bought by foreign investors were GAS, BMP, SSI, VJC and HDB.
VIC was the largest net sold share on HSX, followed by VCI, DHG, NCT and VHM.
VGC was the largest net sold share on HNX, followed by PVS, TIG, SHS and CSC.
Phu Nhuan Jewelry JSC (code: PNJ) has been fined to dozens of millions of dong in tax.
According to PNJ’s announcement, the Ho Chi Minh City Tax Department issued Decision No.5787 on September 13, 2018 to penalise PNJ for tax violations committed between January and December 2017.
PNJ has been issued a fine of 20 per cent of its corporate income (CIT) tax arrears, which is VND5.95 million ($263.3). The company will also pay VND29.75 million ($1,320) of CIT, along with VND1.5 million ($67) for late payment.
Since early 2018, PNJ’s stock had been rising, to peak on April 2 at VND206,000 ($9.1), following a generally rising market. However, it hit a two-year low bottom at around VND76,000 ($3.4) only three months later on July 3, 2018.
Also in July, PNJ was caught up in a scandal because Nguyen Thi Cuc, former member of the PNJ board of management and former head of Dong A Bank (DAB)’s Supervisory Board, was prosecuted for the involvement in DAB, PNJ’s share dropped like a stone from the peak of VND206,000 ($9.1) on March 30 to VND76,000 ($3.4) on July 3, then climbed to VND99,400 ($4.4) on September 19.
Meanwhile, the Ministry of Public Security’s investigation agency has just concluded the second additional investigation for the case of “deliberately acting against state regulation, causing serious consequences” and “abusing trust to appropriate property” at DongA Bank, which includes the involvement of Cao Thi Ngoc Dung (former PNJ general director), the wife of defendant Tran Phuong Binh and shareholder of DAB, who held the DAB shares of Tran Phuong Binh.
According to the investigation agency’s conclusions, Dung did not know the origin of the money Binh used to buy the shares and she was not involved in the falsification of documents. As a result, the investigation agency found Dung innocent of the criminal charges.
The move to slash prices of Sony’s models has raised doubts that Sony is trying to dump stock before leaving Vietnam. But Sony has denied this.
“The mobile phone models are selling with big discount rates. These could be the last products of the Japanese manufacturer in Vietnam,” one news report said.
The rumor about Sony stemmed from the fact that large mobile phone distribution chains, including The Gioi Di Dong, FPT Shop and Hoang Ha Mobile, are selling Sony’s models at sharp discount rates.
The Gioi Di Dong has slashed prices of more than 10 Sony models, from low-cost products such as Xperia L1, L2 and XA1 to high-end products.
In particular, Xperia XZ2 and XZ Premium were cut to VND12 million from VND20 million and VND23 million as initially quoted.
The mid-tier models such as Xperia XA1 Plus and Xperia XA1 are now selling at VND4 million and VND3 million, respectively, or just equal to half of the initial selling prices.
Hoang Ha Mobile is also running a large-scale price cut campaign. The two high-end models XA2 and XZ Premium are priced at VND11.7 million, while low-cost and mid-tier models such as Xperia L1, L2 and Xperia XA1 Plus have the same selling prices or a little lower than prices quoted by The Gioi Di Dong.
The prices of a series of models have been cut, while there is no information about the new models the days to come.
The representatives of some retail chains have confirmed that the price cut is a part of the plan on dumping stock, and it is highly possible that no more new Sony smartphone models will be sold in Vietnam from now until the end of year.
The Gioi Di Dong said the price discounts will be applied to tens of thousands of Sony products available at the chain. Meanwhile, the distributor still doesn’t have plan to import next-generation models.
VnReview quoted the manager of a retail chain as predicting that Xperia XZ3, the latest model of Sony will no longer be available at large distribution chains in Vietnam, because of unreasonable prices set by the manufacturer.
“The model is too expensive, and it only has one rear camera,” he said. However, he thinks that XZ3 would still be sold at Sony Center shops in Vietnam.
In the latest news, Sony’s representative has denied that it plans to leave Vietnam.
The representative said that Sony is planning to bring Sony Xperia XZ3 to Vietnam. At this moment, Sony is preparing for a Sony Show in HCMC where many attractive products will be on display.
Auditor General of the State Audit Office of Vietnam (SAV) Ho Duc Phoc received the chairmanship of the Asian Organisation for Supreme Audit Institutions (ASOSAI) from Malaysia at the first plenary session of the 14th ASOSAI Assembly in Hanoi on September 19.
The plenary session followed a ceremony to open the 14th ASOSAI Assembly and celebrate 40 years of the ASOSAI Charter.
In his speech, Phoc said it is an honour for him to assume the chairmanship of ASOSAI in the 2018-2021 term, noting that it is also the pride of the SAV as well as the Vietnamese people.
The SAV will continue making utmost efforts to help build a strong ASOSAI community to contribute to economic development in Asia and around the world, he added.
At the plenum, Auditor General of the National Audit Office of China Hu Zejun, who is also head of the ASOSAI Working Group on Environmental Auditing (WGEA), delivered a report of the WGEA.
She said thanks to the joint efforts of all member supreme audit institutions (SAIs), the WGEA successfully implemented the action plan for 2014-2016 and is actively performing the tasks under the action plan for 2017-2019.
Over the past years, the WGEA has implemented many important activities, including the 6th and 7th seminars on environmental auditing, the 5th and 6th working meetings of the WGEA, promoting cooperation in environmental auditing across Asia, maintaining regular contact within ASOSAI, launching exchanges with working groups in other regions, and sharing experience in environmental auditing in Asia.
It has actively taken part in activities of the International Organisation of Supreme Audit Institutions (INTOSAI) Working Group on Environmental Auditing. The member SAIs have also participated in projects relating to climate change and air pollution fight, agricultural and food production.
Hu said pushing ahead with the action plan for 2017-2019, the WGEA will take active measures to reform environmental auditing techniques and step up cooperation. The ASOSAI Secretariat will also make stronger efforts in the WGEA’s activities and continually contribute to environmental protection and sustainable development in Asia.
At the session, ASOSAI Secretary General Choe Jaehyeong, who is Chairman of the Board of Audit and Inspection of the Republic of Korea, reported on activities of the ASOSAI Secretariat since the previous assembly.
Accordingly, the ASOSAI approved the Strategic Plan for 2016-2021. The ASOSAI Strategic Plan Management Task Force, led by the Secretary General, has developed annual operation plans since 2016 to ensure the successful implementation of the Strategic Plan. So far, this plan has been carried out very well, he noted.
In this period, the ASOSAI Secretariat has bolstered cooperation with other regional bodies such as the European Organisation of Supreme Audit Institutions (EUROSAI), the African Organisation of Supreme Audit Institutions (AFRSAI), as well as INTOSAI.
He announced that the 52nd meeting of the ASOSAI Governing Board in Hanoi on September 18 accepted the SAI of Palestine to become the 47th member of the organisation.
At the plenary session, participants chose the SAI of Thailand as host of the 15th ASOSAI Assembly in 2021 and the SAI of China as ASOSAI Secretary General for 2018-2021.
The 14th ASOSAI Assembly is taking place in Hanoi from September 19 to 22 under the theme “Environmental Audit for Sustainable Development”.
In the first half of 2018, the Vietnamese banking sector enjoyed VNĐ35.5 trillion (US$1.53billion) in net profit, equivalent to 64 per cent of the previous year.
Thanks to improved financial efficiency, progress was made in tackling bad debt, effective digitisation and thriving bancassurance partnerships, while bank stocks have become more attractive again. By September 2018, the sector saw its stock price performance rise by 22 per cent since the start of the year.
In August 2018, Vietnam earned an upgrade in sovereign rating from B1 to Ba3 from Moody’s, and from ‘BB-‘ to ‘BB’ from Fitch, thanks to strong fundamentals, healthy export income, growth potential and lowering government debt. In tandem, 14 banks also had their credit ratings upgrading at Moody’s. Overall, banks came back stronger in 2017 and are looking forward to an equally rewarding 2018.
But words of caution have been voiced. Problems of capital adequacy remains and along with ongoing strong credit growth, is getting worse. In 2017, only six out of 14 banks managed to raise their charter capital by $613 million (41 per cent of planned). According to Moody’s, given the current credit growth, Vietnamese banks will need an approximate additional $7-9 billion to ensure Tier 1 capital ratios at 11 per cent in 2018 and 2019. Without external capital injections, the Tier 1 capital adequacy will fall to 8 per cent for JSCBs and 6.1 per cent for SOCBs by end of 2019, from 9.4 per cent and 6.9 per cent at the end of 2017.
Most banks had their CAR reduced by 1-2% in 2017 …
… after a period of strong credit growth in 2017
To comply with the Government’s plan to be Basel II compliant by 2020, in 2018 banks will continue to devise plans to raise Tier 1 and Tier 2 capital. At the beginning of 2018, 10 banks announced plans to raise their charter capital by at least $1.4 billion.
In order to retain earnings, banks have managed to increase their charter capital by giving out stock dividends. This is to continue as banks try to keep as much cash in-house as possible. Given the performance of banking stocks over the past year, shareowners are happy to receive additional shares as well as cash dividends.
However, while stock dividends and bonus can only move funds from treasury shares to charter capital keeping Tier 1 capital intact, ESOP and new common shares issued could increase Tier 1 capital. In the first months of 2018, several banks all had their IPOs, taking advantage of the bullish stock market to add more funds to their Tier 1 capital, such as HDB, TPB and TCB.
Banking sector’s 2018 plans to increase capital
Meanwhile, issuing stock dividends and launching IPOs were not applied by State-owned banks VCB, CTG and BIDV. Although these banks have been petitioning to pay dividends in stocks rather than cash since 2015, with the national budget in deficit, the Ministry of Finance has been asking the banks to pay dividends in cash to contribute to the national budget. The story has continued in 2018 when VCB announced its dividends payment in cash in early September, with CTG and BIDV expected to follow soon.
Given the tight situation, SOCBs have been issuing long-term bonds with terms from 5-10 years to maintain its capital adequacy levels. BIDV has recently completed its second bond issuance in 2018, adding a total of VNĐ430 billion, or $18.5 million, to its Tier 2 Capital. Vietinbank issued VNĐ2.43 trillion worth of bonds, or $105 million, as an addition to Tier 2 Capital.
This method also has its restrictions, as Tier 2 Capital cannot be higher than Tier 1 Capital. While Tier 2 Capital has been inching up since the last quarter of 2016, it is bound to hit the Tier 1 ceiling soon.
The situation for banks’ capital adequacy in Vietnam, especially those of SOCBs, continues to be a difficult story without the support of the Government. To meet the Basel II compliant deadline of 2020, the banks need to seek capital from external sources, be it from the Government’s budget itself, being allowed to retain their cash earnings, or from overseas injections. To get more up to date information on the banking sector as well as its key issues and trends, please go to our report at http://bit.ly/VNbankingreport2018.
Korea’s SK Group is acquiring the largest foreign stake in Masan Group Corporation for about $470 million, in a deal that will value the Vietnamese diversified business group at about $5 billion.
The South Korean group, which has businesses ranging from telecommunications to service sectors, will buy Masan Group’s entire 109.9 million treasury shares for 100,000 dong ($4.29) each, the companies said in a statement. SK Group will appoint a member to Masan’s board of directors. Mai Ngoc Chau reports on Bloomberg,
The acquisition, equal to a 9.5 percent stake in Masan Group, will make SK Group the largest foreign shareholder in the Vietnam conglomerate, whose principal businesses include food and beverages, financial services and natural resources. The next biggest foreign holder is GIC Pte, Singapore’s sovereign wealth fund which holds a 4.99 percent stake, according to data compiled by Bloomberg.
The two companies “will actively pursue strategic M&A opportunities to deliver exponential growth over the long-term,” Danny Le, head of strategy and development for Masan Group, said in a statement. “We admire how SK Group has evolved into a global diversified powerhouse.”
Vietnam is “an important foundation” for SK Group’s regional strategy, Woncheol Park, representative director of Southeast Asia Investment for SK Group, said in a statement. “We will actively work together to identify strategic opportunities to expand into attractive categories in Vietnam where SK can add significant value through our know-how and technology. We believe this is the first of many investments with Masan.”
Credit Suisse Group AG acted as adviser for Masan Group. The deal is expected to close in the fourth quarter, Masan said.
The proceeds will be used to finance Masan Group’s future growth initiatives and strengthen its balance sheet, improving earnings by $50 million a year, the company said. The group’s outstanding debts were 34.7 trillion dong ($1.5 billion) through the end of June, according to its first-half fiscal report.
In November, Masan repurchased 100.7 million shares at 58,352 dong apiece, increasing its treasury shares to 109.9 million. Masan does not plan to issue additional shares to investors during the next three years, the company said.
Masan Group shares rose 1.2 percent to 91,200 dong in Ho Chi Minh City trading on Wednesday. The shares have climbed 18.9 percent since the start of the year, compared with the 1.2 percent gain in Vietnam’s benchmark stock index.
KKR & Co. last year invested $250 million in Masan Group and its Masan Nutri-Science in a deal that valued the company’s meat-producing subsidiary at $2 billion.
Vietnam-focused private equity firm Mekong Capital has completed the divestment of Minh Hoang Garment, the last portfolio company in its Mekong Enterprise Fund.
The deal follows the divestment of Mekong’s stake in Asia Chemicals last month and the liquidation of the Vietnam Azalea Fund last year. With this, Mekong Capital has fully exited all investments made from its first three funds. Financial details of the transaction were not disclosed.
Mr. Chris Freund, Partner at Mekong Capital, shared: “With the exit of Minh Hoang, we are so delighted to have completed the divestments of all of our first 3 funds. This enables us to focus on our newer investments in Mekong Enterprise Fund III, partnering closely with each of those companies to ensure they each achieve their vision.”
Minh Hoang is a local producer of sports apparel, active-wear and outerwear.
In total, Mekong Capital has completed 26 exits of private equity investments across these three vehicles. A number of exits under the Vietnam Azalea Fund were investments in privatized state-owned companies.
Earlier this year, Mekong Capital announced its exit from Mobile World, Vietnam’s multi-concept retailer, at an impressive 57x multiple. Restaurant operator Golden Gate was another successful investment with a 9.1x return upon exit.
The fund manager has a value creation platform called Vision Driven Investing with the aim to generate at least a 5x return for each investment, and is intensively applying it to all portfolio companies in its active Mekong Enterprise Fund III (MEF II), which has announced seven investments so far.
With the winding-up of the first three funds, Mekong Capital plans to raise its Mekong Enterprise Fund IV in the first half of 2019.
About Mekong Capital: It is a Vietnam-focused private equity firm, specializing in consumer driven businesses and looking to invest in fast-growing companies, with ambitious expansion plans, and a commitment to building management teams that will successfully execute on those expansion plans. Mekong Capital’s funds have completed 33 private equity investments in Vietnam, of which 26 have been fully exited. Its latest investment vehicle, the Mekong Enterprise Fund III (MEF III), has to date announced investments in 7 companies, including lending firm F88, logistics companies Nhat Tin and ABA, restaurant operator Red Wok, Ben Thanh Jewelry, Yola Education, and mattress retailer Vua Nem. All investee firms in MEF III are implementing the Vision Driven Investing framework.
ALLENTOWN, Pa. – For Katrina Glover, the sous chef at the new Pho Le on 7th Street, the restaurant is doing a lot more than making the best Vietnamese food. They’re helping her community.
“I’ve been in the culinary industry for over 22 years and this is just one of the phases I never dreamed of imagining. I love Lina. I’ve never met no one like her before,” said Glover.
She’s referring to Lina Dang, the owner, who decided to come here from New York to open this restaurant. Justin Backover reports on wfmz.com
“She’s giving us a chance. As long as you want to work she’s here for us and I’m just grateful for her and her family. And they’re giving us all an opportunity to do something different other than flip burgers,” said Glover.
“They worked on these recipes for years and they didn’t want to bring it until they thought everything was ready for them to bring out. We have what they call pork and rice dishes. One of the favorites is our deluxe knock out,” said Donald Green, operations manager.
The restaurant opened last week with an emphasis on fresh, quality food.
“We come in at 7, we leave at 9, 10 at night. We just want to push out the best food for the neighborhood,” said Glover.
To Glover, the food she’s making for her neighborhood is a needed alternative, “other than what we always put in our body, which is garbage,” said Glover.
The restaurant has already been getting some buzz in the neighborhood.
“What I hope to see, lines wrapped around the block. Phones ringing off the hook,” said Glover.
Vietjet Air (VJC) has opened sales on millions of promotional tickets for flights during the Lunar New Year 2019 (Tet).
Tickets are available on all domestic routes in Vietnam and Thailand and international routes connecting Vietnam and Tokyo and Osaka (Japan), Seoul, Busan, and Daegu (South Korea), Hong Kong, Kaohsiung, Taipei, Taichung, and Tainan (Taiwan), Singapore, Bangkok, Phuket, and Chiang Mai (Thailand), Kuala Lumpur (Malaysia), Yangon (Myanmar), and Siem Reap (Cambodia) from January 22 to February 18, 2019.
Vietjet will also open new routes and increase flight frequency to serve higher travel demand during the lunar new year holiday.
It is also holding super promotional “golden days” from September 19 to September 21 during the “golden hours” of 12pm to 2pm (GMT+7), with 2.6 million tickets priced from VND0 at www.vietjetair.com.
The flight period for Vietnamese and Thai domestic routes is from October 15 to March 30, 2019, and October 15 to June 30, 2019 for international routes.
Specifically, the flight period for Hanoi – Osaka flights is November 8 to March 30, Ho Chi Minh City – Osaka December 14 to March 30, Hanoi – Tokyo (Narita) January 11 to March 30, and Hanoi – Taichung October 15 to March 30.
Millions of tickets available for flights during lunar new year 2019
Payments can be made with international debit and credit cards including Visa, MasterCard, AMEX, JCB, KCP, and Union or with any ATM card issued by 34 Vietnamese banks registered with internet banking.
Early birds will save money and avoid any disappointment. In addition to the ticket price, passengers can access promotional programs and regulations on baggage, travel documents, ticket conditions, the transport of traditional cuisine and trees for Tet, including cakes, apricot and peach trees, and other matters, which are posted on http://www.vietjetair.com, to avoid any unexpected problems.
Aiming to be a Consumer Airline, Vietjet has continually opened many new routes, added more aircraft, and invested in modern technology while offering more add-on products and services to serve all demands of customers.
Rises in stock markets around the world overnight and early this morning put Vietnam’s stock market in a positive mood in the morning session on September 19, with green spread throughout.
According to a report by My Van on VNEconomictimes, the VN-Index increased to nearly 1,000 points but then eased as support from large stocks was not forthcoming.
The HNX-Index also rose at the beginning of the session but also lacked momentum and stalled at around 114 points.
At 9.55am, the VN-Index had increased 4.29 points (0.43 per cent) to 997.72 points, the HNX-Index 0.49 points (0.44 per cent) to 114.09 points, and the UPCoM-Index 0.25 points (0.49 per cent) to 52.23 points
Oil and gas stocks such as PVS, PVD, PVB, BSR, OIL and PLX attracted cash flows as oil prices recover.
The textile industry has received mixed reviews since trade tensions between the US and China escalated but may benefit from an accelerated movement of exports from the latter to the former Stocks have recently begun to rebound well on improved liquidity.
Textile stocks such as TCM, TNG, VGT and GIL increased sharply, with TNG and VGT hitting their ceiling.
Securities and real estate and construction also increased, brining life into the market.
SRA and SRB, after two sessions of recovery, returned to their downward trend, with SRA hitting its floor.
Vietnam becomes more attractive to Bulgarian businesses as the country improving competitiveness to Bulgarian companies who want to invest and seek business opportunities in Vietnam, Bulgarian Minister of Economy Emil Karanikolov has said.
According to a report on VNS, Karanikolov made the statement while attending the Vietnam-Bulgaria Business Forum which opened in Hanoi on September 18.
The forum, jointly held by the Vietnam Chamber of Commerce and Industry (VCCI) and the Bulgarian Embassy in Vietnam, drew the participation of more than 20 Bulgarian firms operating in industrial parks, engine greases, animal feed, agricultural products, urban lighting, import-export insurance, defense industry, beverage, gas engine assembly and maintenance, among others.
Karanikolov spoke highly of the Vietnamese Government’s efforts in socio-economic reform, citing Vietnam’s 55th place in the World Economic Forum (WEF)’s global competitiveness list in 2017, up 22 moves from 2006, and its 68th position in the World Bank Group’s annual “Ease of Doing Business” report.
Deputy Minister of Industry and Trade Cao Quoc Hung said that this is a good opportunity for businesses from both nations to exchange and set up partnerships, thus further bolstering economic relations between the two nations.
After 30 years of reform and global economic integration, Vietnam’s trade has played an important role in the country and world’s economies, Hung said.
In the first eight months of the year, Vietnam’s export growth picked up 14.5 percent from the same time last year to 155.4 billion USD, he said, adding that its imports rose 11.6 percent to 152.7 billion USD.
The European Union (EU) has been a significant partner of Vietnam, Hung stressed, adding that the bloc is currently the third biggest trade partner, and one of the two largest export markets of the Southeast Asian country.
Two-way increased 12 times to 50 billion USD in 2017 from 4.1 billion USD in 2000. Vietnam’s key export products are garment and textile, coffee, furniture and seafood. Meanwhile, the EU countries had by the end of 2017 registered more than 21.5 billion USD in some 2,000 valid projects in Vietnam.
As Bulgaria is among traditional trade partners of Vietnam in the EU, Hung expressed his hope that cooperation between the two countries will be expanded and further accelerated, especially when Vietnam is integrating into the world’s economy with breakthrough reforms.
Meanwhile, VCCI Vice President Doan Duy Khuong said that the forum is also designed to assist Vietnamese businesses in accessing Bulgarian firms to unlock a developing market in Eastern Europe, and a gateway for Vietnamese products to penetrate Western European markets.
For many Vietnamese people, it is a ritual as circadian as the sunrise: On the way to work, they pull over their motorbikes to grab an iced coffee from a street vendor, complete with a plastic cup, plastic lid, plastic straw, and plastic case to hang from the bikes as they drive.
The coffee, with four separate pieces of plastic for a single drink, exemplifies how this packaging has became such a common and wasteful scourge on Vietnam’s environment. But some citizens have become alarmed by the trend and begun fighting back against the pollution. Ha Nguyen reports on VOA.
More Vietnamese than ever are looking for alternatives to plastic, from metal bottles to cloth tote bags, just as many communities around the world are starting to believe they have relied for too long on cheap and versatile — but ecologically disastrous — plastic. Rwanda was remarkably efficient at banning plastic bags, while Durham, North Carolina has a volunteer program to distribute reusable takeout containers, and an Amsterdam grocer introduced an aisle of products with no plastic.
FILE – A woman removes plastic waste stuck in tree branches near the beach in Thanh Hoa province, Vietnam June 4, 2018.
What makes Vietnam special, to the chagrin of environmentalists, is that it ranks among the top five countries in the world that send plastic trash into the ocean, according to the Ocean Conservancy. To have become a top polluter is staggering for the Southeast Asian nation, especially when there are dozens of countries with much larger economies but far less plastic waste.
“Everyone, every country should be responsible, it doesn’t matter the size,” said Tran An, a volunteer at Precious Plastic Saigon. “In Vietnam we should do what we can to solve the plastic problem.”
Her green advocacy group has taught Vietnamese how to make their own straws out of bamboo, as well as how to distinguish between different kinds of plastic to facilitate recycling.
Locals are getting creative with the ways they are cutting plastic out of their daily diets. It seems each week another restaurant in Vietnam is switching to paper straws, while supermarkets have started giving shoppers cardboard boxes in which to take home their groceries, similar to Costco in the United States.
Plastic water bottles are a popular target. The Ministry of Natural Resources and Environment has swapped them out in favor of metal bottles at meetings. One business chamber is encouraging members to replace them at the office, providing water coolers for employees instead. A coalition of foreign consulates in Ho Chi Minh City signed a pledge this year to do the same. And at conferences, one hotel puts out glasses that guests can refill from dispensers.
“One of my favorite examples is that, you know, the youngsters in Vietnam, we are so gaga over bubble tea. And all that is plastic,” An said. “But now if you go to those shops you will see that they started getting the carriers made by canvas, or something else instead of a plastic carrier.”
The carriers are similar to those used by motorbike drivers to transport their iced coffee. Straws and carriers are small change, though, compared to the macroeconomic change needed to cut down on plastic, which will take up more space in the ocean than do fish, if nothing is done, by 2050, according to the Ellen MacArthur Foundation.
The “industries responsible for the major plastic wastes must be targeted with specific industry agreements and producer liability arrangements, with requirements for handling, collection and reuse of waste and broken plastic equipment,” Nina Jensen, CEO of the environmental group REV Ocean, wrote in a blog post.
An environmentalist checks the quality of the water near dead fishes along the Ngoc Khanh lake in Hanoi April 25, 2011.
Vu Thinh, who works at a trading company in Ho Chi Minh City, thinks the growing interest in eco-friendly consumption could be good for business.
“One of my special products is to make a plastic bag, so I think this is interesting, this topic, because in the next year we will produce this product,” he said.
His bags would be made of potato starch and other natural ingredients that can decompose within two years, unlike plastic, one of the least biodegradable materials.
But this would cost more than single-use plastic bags, demonstrating the difficulty of finding a new business model for companies that depend on plastic.
“Of course we want to export to Europe or America because this is more expensive,” Thinh said. “You know in Vietnam now [we] have some companies produce that product but it is not good, the market is not good, the price is high. We will research the market more.”
With the waste already blanketing the streets and seas, and with the cost of alternatives still pricey, plastic can seem like a mountain of a problem. But An said she has reason to be optimistic because the next generation is more idealistic.
Older Vietnamese think, “why go an extra step for something if it won’t make a difference?” she said. “But for the youngsters I think they feel that one action counts anyway.”
The driver wrote the wrong information about his car’s licence plate and the departure destination on the receipt
A Japanese man was charged 10 times more than his trip should have cost in a taxi in Hanoi, Dtinews reported.
The case happened last week when the Japanese man called a taxi to travel for just around two kilometres from Le Van Huu Street to Dinh Tien Hoang Street.
The passenger, 48, whose name has not been disclosed said that it took him only 10 minutes for the trip, but he was asked to pay VND267,000 (USD12.13).
The Japanese man said he became aware the meter was running far too fast. He still agreed to pay the fees and asked the driver for a receipt and then took a photo of the taxi.
The driver wrote the wrong information about his car’s licence plate and the departure destination on the receipt to suit the charge of VND267,000.
According to the receipt, the passenger took the taxi from Noi Bai International Airport to Hoan Kiem Lake area.
The Japanese had visited Vietnam many times over the past three years and was aware of the scams associated with taxis.
He will now lodge a complaint with the authorities.
Vietnam Industrial Water and Waste Water Treatment Market segmentation by region (North, South and Central), Market Segmentation by Industry (Power, Food Processing, Textile, Chemical, Paper and Pulp, Oil and Gas, Pharma and Others) and Company profile of major companies (Van Lang, SEEN Technologies Corporation, Ecoba ENT, GREE)
Strict implementation of regulations, rising number of CETPs in Industrial complexes/craft villages and Industrial clusters will drive the future market as many clusters are still without any water treatment facility or are in poor working conditions.
Many new industries are expected to be constructed in next few years under investment drive by Vietnamese government creating additional demand for water treatment.
Analysts at Ken Research in their latest publication “Vietnam Industrial Water and Waste Water Treatment Market Outlook to 2022 – By Region (North, South and Central) and By Industry (Food Processing, Textile, Chemical, Power, Oil and Gas, Fertilizers and Others)” believe that promoting better regulations, providing more grants for research, involving participation of private sector will help in promoting the water treatment industry. New and upcoming industries with focus on efficiency will promote the use of high end technologies. Water conservation will remain the key theme for promotion of Industrial water and waste water treatment industry. Vietnam Industrial water and water treatment market is expected to register positive CAGR of around 3% during the period 2017-2022. Commitment conserve the environment and rising awareness about benefits of water treatment for society as whole are expected to have positive impact on the demand.
Vietnam Industrial Water and waste water Treatment Market Infographic | Photo credit: Ken Research
The market for Industrial water and waste treatment is expected to register growth as it has gained fresh momentum due to enhanced focus of the government. Demand for industrial water and waste water treatment industry in Vietnam will be largely driven by increased concern for environment and lack of good quality water for industrial uses. The rivers are polluted and water must be treated before putting it to any use. Similarly discharging effluent in the open creates a lot of problem in the surrounding areas which has long term health impact prompting local to protest against setting up industries. The government also has shown its concern and has announced multiple investment projects in wastewater treatment to ensure treatment of water before being discharged. Plans of the government to make Vietnam a manufacturing hub will further boost the demand for water treatment plants in new and upcoming industries. Expansion of current capacity and upgradation of existing facilities with better, improved and efficient system will further boost the market.
Southern part of the country is fast emerging as the major destination for industrial water and waste water treatment industry. Upcoming manufacturing unit and increased participation of the private sector in developing manufacturing capacity in provinces adjoining Hanoi and Ho Chi Minh cities have contributed to the growth in water treatment sector. Power and Textile sector along with agro based food processing is expected to drive the market in the region.
For more information on the research report, refer to below links:
The report will help the readers to identify the ongoing trends in the industry and anticipated growth in future depending upon changing industry dynamics in coming years.
The report is useful for equipment manufacturers, water treatment consumable manufacturers and suppliers, environmental associations, EPC companies and potential entrants and other stakeholders to align their market centric strategies.
The report is useful for equipment manufacturers, water treatment consumable manufacturers and suppliers, environmental associations, EPC companies and potential entrants and other stakeholders to align their market centric strategies.
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Nguyen Huu Tin, former vice chairman of the HCMC People’s Committee, has been prosecuted for his involvement in some lawsuits against Danang-based business tycoon Phan Van Anh Vu.
The Investigative Police Agency at the Ministry of Public Security, while looking into other violations committed by Vu Nhom and some relevant groups and individuals in the central coastal city of Danang and HCMC, announced its latest move to press charges against Tin and other current anf former officials in the two cities, the ministry said in a statement today, September 18. Thanh Thom reports on SaigonTimes.
Police decided to take legal proceedings against a criminal case called “Violations of the regulations on the management and use of State assets, causing losses and wastefulness in HCMC,” based on Article 219 of the 2015 Penal Code. Accordingly, the ministry issued decisions to prosecute the accused, put them under house arrest and search their houses and workplaces in an attempt to collect additional evidence.
The accused included Nguyen Huu Tin, 61, former vice chairman of the HCMC People’s Committee; Dao Anh Kiet, 61, former director of the HCMC Department of Natural Resources and Environment; Le Van Thanh, 56, incumbent deputy chief of the Office at the municipal committee; and Nguyen Thanh Chuong, 44, current head of the Urban Division at the Office.
On the same day, the agency also issued decisions to prosecute and arrest some officials in Danang City and raided their homes and workplaces for similar charges.
Dao Tan Bang, 43, former deputy head of the Office at the Danang People’s Committee, and current Party Secretary in charge of industrial parks in the coastal city; and Nguyen Viet Vinh, 40, former head of the Urban Management Division at the committee, currently serving as director of the Danang Inland Waterway Port Authority, are now being kept them in police custody.
Former head and deputy head of the Office at the committee – Nguyen Van Can and Phan Xuan It – both aged 64, are also under house arrest.
