Gender equality: the competitive edge of business

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Babeth Ngoc Han Lefur, country director of Oxfam in Vietnam, offers an insight into how far Vietnam has gone in promoting equality between men and women.

Vietnam has one of the most progressive gender equality laws in Asia. As regional business leaders convene in Hanoi on September 11-13, 2018 for the World Economic Forum on ASEAN, they have an opportunity to learn from Vietnam’s successes and shortcomings in promoting equality between men and women.

Vietnam was among the first countries to ratify the UN’s Convention on the Elimination of All Forms of Discrimination against Women (CEDAW) on women’s rights in 1982, and the Vietnamese women’s labour force participation of over 73 per cent is one of the highest in the region. And yet Vietnamese women are mostly found in unskilled and untrained labour-intensive sectors.

They earn 33 per cent less on average than their male counterparts in all fields, with the biggest difference of 43 per cent found in agriculture and foreign companies. In the government, only one out of 20 ministers, and 89 out of 1048 department directors are female.

Globally, more men than women own land, shares, and other capital assets, men are paid more for filling the same roles as women, and men are concentrated in higher paid jobs.

The unpaid care work that hugely contributes to the world’s economic prosperity is unrecognised and unrewarded, keeping women subordinate and restrained in their choices.

In the social enterprise sector, Southeast Asia is leading the way on pay parity and leadership opportunities for women compared to all other regions, and yet women in Asia earn a fraction of men’s wages and are more likely to be paid below the minimum wage.

There is compelling evidence that women in leadership in companies drive profits and give businesses a competitive edge. On a national level, greater gender equality in the workforce provides enormous macroeconomic opportunities.

The McKinsey Global Institute asserted in 2015 that if women participated equally in the global economy, they could generate additional GDP worth $28 trillion by 2025. This amount is roughly equivalent to the size of the Chinese and US economies combined.

In order for government and business leaders to do better, they must begin by addressing three key barriers to economic equality:

Agree that the idea that ‘our economic model is gender-neutral’ is a myth. Instead, the policy environment needs to revalue and redistribute care work to end the double burden that many women face.
Women’s economic empowerment is a practical selling point for companies and businesses, but is not enough to demonstrate a commitment to change corporate culture—the entrenched structures that undermine women’s access to resources, assets, and leadership positions.
The biggest barrier to change is often the deeply-held social norms, beliefs, and behaviours within companies and organisations’ own practices. Policies are important, but are valueless if not applied consistently.
Pragmatically or even intuitively, Asian business leaders understand that economic equality can only be achieved by ending gender inequalities, but the how is evasive. A useful framework for companies’ diagnosis, planning, and interventions, called the Rao-Kelleher framework, considers organisational strategy in four dimensions: individual attitudes, access to resources, cultural norms, and formal laws/policies. These dimensions relate to and build on each other.

Change in formal rules and policies is necessary to put accountability mechanisms in place within the organisation’s mission and mandate, ensuring that gender equality is a priority in business decisions, as well as policies for work-family balance and to fight sexual harassment.

Along with this, staff need access to resources, space, and time to advance equality, with more women in leadership positions, training and capacity building opportunities for achieving gender equality goals. This is built on leaders’ and employees’ knowledge and commitment to gender equality and capacity for dialogue.

Finally, change in informal norms and practices is a long-term process involving power sharing, the acceptance of women’s leadership, work-family balance, and inclusive organisational cultures that prioritise learning and prevent harassment and discrimination.

In Vietnam, the legal environment provides a good foundation for companies to develop comprehensive gender policies within their organisations as well as in business operations. The bigger and more complex task is to enhance gender diversity thinking and culture at the workplace, such as discouraging gender stereotyping, penalising gender discrimination, and promoting values and behaviours of equality and diversity.

Businesses that genuinely strive for inclusion tackle the solution with a comprehensive inside/outside strategy, including good policies, a business culture that values women’s leadership, and contributions to shared prosperity in society.

Businesses’ competitive edge does not come only from the maximisation of profits: it lies in gender diversity and environmental sustainability that drive business growth.

On the occasion of the World Economic Forum on ASEAN, Oxfam launches a discussion paper entitled ‘The Future of business: Shaping inclusive growth in Southeast Asia’ that presents a spectrum of responsible business models that can help to deliver more sustainable and inclusive economic development, zooming on gender equalities at work. The paper will be released on September 11.

Babeth Ngoc Han Lefur report on VIR

September 10: VN-Index up 0.15%

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Ups and downs on both HSX and HNX.

Positives on the stock market on September 10 included the VN-Index gaining slightly and foreigners continuing to net buy.

The VN-Index ended the day on HSX at 970.34 points, up 1.44 points (0.15 per cent), while the VN30-Index closed at 943.31 points, down 2.28 points (0.24 per cent).

On HNX, the HNX-Index finished at 110.69 points, down 1.01 points (0.91 per cent), the HNX30-Index 199.03 points, down 2.07 points (1.03 per cent), and the UPCoM-Index 51.04 points, up 0.04 points (0.07 per cent).

Liquidity on HSX was VND2.9 trillion ($124.5 million) and on HNX was VND545.88 billion ($23.47 million).

Food and beverage stocks to gain ground included TAC, TLG, VNM and VCF, by 3, 0.4, 0.4 and 0.3 per cent, as BBC lost 5.1 per cent and KDC 1.1 per cent. BHN closed at its opening price.

Gainers in banking included STB, BVH, TCB and BID, by 4, 1.2, 1 and 0.3 per cent, as EIB, TPB and VCI closed at their opening price. MSN lost 3.7 per cent, VPB 2.4 per cent, CTG 1.1 per cent, MBB 0.9 per cent and SSI 0.6 per cent.

In energy, PLX gained 2.5 per cent, PVD 0.7 per cent and GAS 0.4 per cent. PVT lost 1.1 per cent and NT2 0.4 per cent as PPC and PGD closed at their opening price.

The Top 5 shares bought by foreign investors were VCB, GEX, SSI, VNM and DXG.

HPG was the largest net sold share on HSX, followed by NVL, MSN, DIG and CTI.

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

On UPCoM, foreign investors bought 386,500 shares worth VND39.22 million ($1,685).

They net bought on HSX by VND130.79 billion ($5.62 million) and on HNX by VND27.24 billion ($1.17 million).

Huyen Thanh report on Vneconomictimes

LG Chem forges battery partnership with Vietnam’s Vinfast

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LG Chem, a top battery maker in South Korea, has forged a strategic partnership with Vinfast, a Vietnamese company for the supply of batteries for electric vehicles and smartphones.

A memorandum of understanding was signed last week between LC Chem and VinFast Trading & Production, a unit of Vietnam’s biggest private conglomerate, Vingroup JSC, which is building a factory in the northern port city of Hai Phong to produce electric motorcycles, electric vehicles and gasoline cars.

The deal reflects LG Chem’s strategy to expand sales in Southeast Asia when its battery business in China was still down the doldrums. Beijing has excluded electric vehicles equipped with South Korean batteries from a list of eco-friendly cars eligible for subsidies.

The partnership will provide batteries for VinFast’s scooters, electric cars and buses, smartphones and other products in the future, the state-run Vietnam News Agency reported, adding that in the short term, the cooperation would focus on producing batteries for VinFast’s e-scooters.

Vietnam News Agency said that, LG Chem would provide technologies for battery production and personnel training.

VinFast has signed contracts with Siemens Vietnam, a unit of Siemens AG, for the supply of technology and components to manufacture electric buses by the end of 2019. In June, General Motors agreed to transfer its Vietnamese operation to VinFast, which will also exclusively distribute GM’s Chevrolet cars in Vietnam.

Welcome Marc, Our New Contributing Writer, Advisor

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The respected Contributing Writer, Advisor joins the Vietnam Insider to help us tell important stories about enterprise, finance, stock market and other essential topics.

The Vietnam Insider’s readership keeps growing, and now so is our contributors. Marc joins the Vietnam Insider team this week as our new Contributing Writer, Advisor.

We’re excited to have him on board. Mr. Marc Djandji, M.Sc., CFA has been Director of Institutional Client development at Viet Dragon Securities Corporation since July 2018 and serves as its Member of Management Board and served as its Director of Brokerage for Foreign & Institutional Clients Division since January 2016 until July 2018.

Mr. Djandji was the Head of Institutional Sales and Brokerage and Foreign Individuals at VPBank Securities Company Limited, Research Division from July 2014 to January 2016. Prior to this, he served as Senior Vice President at Indochina Capital Advisors Limited. He served as the Head of Research and Equity Analyst at Viet Capital Securities Joint Stock Company, Research Division, where he drove the overall research strategy. Prior to that, he headed the research department at Mekong Securities. Mr. Djandji was the Founder at Horizon Capital Group. He served as the Head of Research at Horizon Securities Corporation, Research Division.

He co-founded ASEAN Strategy Group, an independent boutique investment bank focusing on corporate finance advisory for small to mid-market companies in Southeast Asia. He also headed the research department at Saigon Securities. He has a wealth of experience and insight on Vietnam’s capital markets having been Head of Research since 2004. In addition to having covered multiple sectors such as consumer goods, infrastructure, agri-food and real estate, Mr. Djandji designed new research products, implemented work processes and trained his equity analysts. He served as a Private Equity Analyst in a Montreal-based investment firm. Mr. Djandji is a Chartered Financial Analyst. He holds an M.Sc. in Finance from HEC Montreal.

He’s written for dozens of magazines, edited books and developed several multimedia features about enterprise, finance, stock market development and related topics.

You’ll start seeing stories written or edited by Marc on the Vietnam Insider very soon.

Follow Marc on LinkedIn. He can be reached at marc.djandji@vdsc.com.vn

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Hanoi, Vietnam to improve residents’ height

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Vietnam’s Hanoi capital will spend over 363 billion Vietnamese dong (some 15.8 million U.S. dollars) in the 2018-2025 period implementing nutrition and sport programs to increase its residents height, according to the municipal Health Department on Monday, September 10, 2018.

Under the programs, by 2025, at least 50 percent of communes and wards in the capital city will have outdoor sport facilities for people to do morning exercise and practice sports free of charge. Meanwhile, grade students in the city will benefit from better nutrition programs and more advanced sport facilities and clubs. Xinhua reports.

The average height of men aged 18 years or more in Hanoi is expected to increase to 167.5 cm by 2025 and 169 cm by 2030, and that of women is expected to rise to 156.5 cm by 2025, and 158 cm by 2030.

Vietnamese Prime Minister Nguyen Xuan Phuc has recently approved the Vietnam Health Program to improve the well-being, stature, longevity and life quality of Vietnamese people in the 2018-2030 period.

Vietnamese men are 163.7 cm tall on average, 13.1 cm shorter than the World Health Organization standard, while Vietnamese women are 153 cm tall, 10.7 cm below the standard, according to Vietnam’s National Institute of Nutrition.

Which mobile brands of Vietnam is the best choice?

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Followed by Campaign Asia-Pacific, Chris Elkin, former MD, Aleph-Labs: Mobile enthusiasm and internet connectivity in Vietnam has exploded to be amongst the highest in the world. There’s now far more mobile phones in Vietnam than there are people. I believe each of these mobile-friendly brands have the following three traits that help them win, long-term.

  1. Inside-out, they understand what their brand really stands for. (Their difference.)
  2. They relentlessly innovate their product, service and brand around what their customers really want.
  3. They fundamentally remain consistent in delivering their brand promise again and again.

Facebook, YouTube and messenger apps, such as FB Messenger and local Zalo, lead the pack in social media popularity, with Instagram and Twitter quite far behind. ‘Online’ is now the leading ‘first introduction’ channel to a product or service that customers subsequently purchased in Vietnam. Now far ahead of TV. There’s no silver bullet to success.

Brands need to be committed to building long-term relationships with their customers, continually innovating to find new ways of adding value to their customers often beyond their core product or service offering, designing customer delight as their top priority. Local brand, Mobile World (Thegioididong) is a great example.

With nearly 50% of Vietnam’s internet population claiming to have purchased a product or service online last year, this brand has rapidly expanded offering online delivery of mobile phones, groceries, cosmetics and electronics, ‘putting customer satisfaction first’ at the center of their brand building.

Ian Paynton, MD, We Create Content: Facebook is still the platform in Vietnam, which was the 7th largest in the world for number of users in 2017—third in Asia to Indonesia and the Philippines. 71% of Vietnam’s users watch videos daily, and as Vietnam still has a huge ‘Cash On Delivery’ culture, many users will place orders on the platform too—especially from small and medium businesses. It’s a platform used for absolutely everything in Vietnam and doesn’t seem to budging just yet.

Sumit Ramchandani, head of Southeast Asia, Lion & Lion: In Vietnam, we’ve observed that there is an apparent snob appeal regarding brands of country origin, which we see play an important role in influencing brand love. For companies like Apple and Google, they have an advantage coming from the United States.

As Facebook and Instagram continue to gain traction and popularity with more than a quarter of the Vietnamese population active on both platforms, we see most brands taking this opportunity to invest heavily in those platforms. However, there are other interesting local platforms in Vietnam such as the leading messaging app Zalo, and its associated brand Zing, which comprises a number of services such as the Zing Me social network and the Zing MP3 music app. Zing MP3 is highly popular amongst teens but brands tend to stay away from this platform due to the questionable legality of its streaming service.

Chandler Nguyen, VP of media planning, Essence: Based on the audience media consumptions, Facebook and Zalo are the two main platforms in Vietnam. There are other smaller messaging apps too. “Bitis Hunter” social media campaign was quite good. “Hunter” was the new shoe that they wanted to launch. “Omo Matic” social media campaign was really good as well with a clear concept, using digital first, video first, mobile first approach.

How’s Vietnam’ top local brands doing?

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What’s behind these brands’ appeal to local people? What are they doing that other local brands—or brands from elsewhere—are not doing? Do you see these brands’ future as under threat from encroaching global or non-local players? – Campaign Asia-Pacific reported

Chandler Nguyen, VP of media planning, Essence: This may sound cliche but the fact is that these brands are providing not only good products but also great services to end consumers in Vietnam. Vinamilk and Viettel have been in the market for a long time, hence they have a deeper understanding of the local market and regulations. Their overall marketing activities are often a combination of CSR and commercial activities.

I am often very impressed with Viettel customer service initiative. Their service outreach is wide and prompt. Their customer service reps are often very patient and solution-oriented. For example, my father, who is in his 70s, often calls the service desk to ask for their help on internet services and he is one happy and satisfied customer!

I don’t see a clear threat in the immediate future (between 3-5 years) as these brands have very dominant positions in the market. As I foresee, the threat in the long term would probably come from local players or joint ventures rather than 100% foreign-owned players.

Chris Elkin, former MD, Aleph-Labs: I’ve personally had the good fortune of partnering with Vinamilk to create and design their brands and packaging design. To me, Vinamilk stands out really strongly in the local market due to the emotional connection and trust it has consistently set out to build with the Vietnamese community.

First and foremost, this now ‘national brand’ has a strong moral compass: responsible, respectful and caring for the less fortunate in Vietnam, supporting many great causes to relieve poverty or to add nutrition to underprivileged children’s diets. Their products have a consistent high quality. They hire smart, experienced marketers, who are impressively agile at innovating and diversifying their their products around changing customer tastes; whether that’s in milks, yoghurts, ice-cream, fruit juices or new healthy beverages to grow their consumer wallet share.

With a growing middle-class set to double in size over the next five years, there will undoubtedly be more global competition entering the market. Having said that, in the 12 years I’ve lived in Vietnam, I’ve seen many global brands try and fail. A global brand’s ability to really connect and understand what makes ‘the locals’ tick is, however, a huge challenge, requiring a million and one small ‘local changes’ to win. I personally think the clever local brands, with that strong understanding of their customers, have more power than many give them credit.

Ian Paynton, MD, We Create Content: Vinamilk and Viettel deliver value to their audiences with their product ranges. Their products are strong. And better still, they know exactly how to communicate across traditional and digital touchpoints and touch the hearts of their audiences.

Vinamilk have been market leaders for a long time. They’ve been around for 42 years. You can go into a shop and ask for milk and a nearby kid will shout “Thank you Vinamilk”. We’re still not sure why exactly, but it proves Vinamilk is certainly always top of mind in the family. It was once state-owned, but privatisation and foreign investment has helped them grow their market share, react quickly to market trends and be more nimble with their brand positioning. Vinamilk harnesses national pride brilliantly, which is bound to get you results in Vietnam. Such as their campaign “Rising Vietnam” where young kids sang about this growing country in different landmarks from north to south. A way to the heart of Vietnamese consumers is definitely through celebrating the beauty and success of Vietnam, and using kids to do so. It never seems to get old!

The same is true with Viettel. They launched 4G services and became the first to offer nationwide coverage right from the start. They also tapped into national pride to win over local audiences with their creative campaign “Vietnam oi”, which showed how their technology ‘bridges gaps’ in a song and theatre performance with 108 performers from 54 ethnic groups across all generations throughout Vietnam, from north to south—a recipe for marketing success.

Creative that plays on nationalism and pride is always going to be a winner in Vietnam and hard to compete with by non-local players. Which is why I don’t see global players as much of a threat. It seems to me that if there were two identical products in Vietnam, one international and one local (that could play on national pride), the local product would come out on top.

Sumit Ramchandani, head of Southeast Asia, Lion & Lion: Vinamilk has a clear advantage as the company is the largest dairy company in Vietnam, and the company possesses local expertise, know-how and understands that one size doesn’t always fit all. Marketing wise, Vinamilk is focusing on 360-degree marketing, both offline and online, to make sure the brands is omnipresent across channels.

Viettel is among the largest telecommunications companies in Vietnam with a default advantage of having strong connection with the government. Viettel has done well when it comes to innovation and technology, while at the same time having a personalised approach to their solutions.

When brands put in the effort to localise, whether it is the product or content, they will experience a greater brand connection with customers. In the future, we will see the competition between local and foreign brands heat up, especially following the recent change to the tax rules, which are favouring foreign brands. As an example, Red Bull has done well for themselves in Vietnam, and have already established a strong connection with the local audience, especially on social media.

Vietnam is young, vibrant population on the move and quick

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Vietnam today represents a country of opportunity and growth. It’s young, vibrant population is on the move and quick to adapt and embrace changing trends as more and more people move to urbanised areas for employment opportunities. Despite a slow start, Vietnam ended 2017 with GDP growth at 6.8%, higher than the government’s initial target of 6.7%. Growth was evident across a number of industries despite setbacks in areas such as severe droughts impacting farming; increasing production costs in mining and export uncertainties with the US withdrawal from the Trans Pacific Partnership (TPP) trade agreement.

Foreign investment in manufacturing has been key to Vietnam’s growth this year. Thanks to low costs, abundant young labour and easily navigated permit processes, investors from South Korea, Singapore, Japan and Taiwan have been building factories to produce goods such as electronics and apparel. In 2017, registered foreign direct investment increased by 44% year-on-year to US $29.68 billion. The service sector also saw significant growth as a result of increasing tourism and a number of government initiatives such as the delay of proposed tax increases to assist local businesses and the lowering of lending interest rates to assist Vietnamese companies that rely heavily on bank loans. This positive economic environment is reflected in Vietnamese consumers’ confidence, with all measures job prospects; state of personal finances and being a good time to buy, higher than 2016.

In Vietnam’s urban retail environment, sales increased by 5% in 2017. However, there has been some volatility in the industry, putting pressure on organizations to drive profitability and find sustainable growth. Rural regions continue to represent a potential source of growth for many manufacturers. As rural regions become more developed, it will remain a strategic investment for companies looking to capture more growth. Rural consumers are already experiencing the benefits of urbanization, including increased exposure to mobile technologies and diversified media. This is rapidly pushing them to adopt more urban-like shopping behaviour. Despite being more susceptible to fluctuations, rural areas have recorded higher growth than urban areas. Local companies continue to reshape Vietnam’s retail landscape. While Traditional Trade and Wet markets still account for nearly 83% of all FMCG sales, small format Modern Trade stores are expanding rapidly. A number of home-grown companies are gaining strong momentum, competing with multinationals to thrive in Vietnam’s competitive retail environment especially in secondary cities and rural regions.

​Vietnam is an uber-connected country, with significant mobile penetration in both rural and urban areas. Increased digital connectivity is enabling trends to spread and fueling an increased urgency for convenience and speed. Local players are excelling in this connected environment, thanks to their agility and native expertise. Global companies need to a real-time understanding of emerging trends and the ability to take faster action. The key to succeeding in rural areas is to find the right distribution model, keeping in mind that the channel and consumer segmentation will continue to evolve.

While Vietnam’s economic growth is expected to thrive in 2018 and consumer optimism is high, the FMCG industry growth relies on how fast companies embrace the market changes from inside out. The amazing speed of change in consumer behavior, technology deployment and business models showcases that those who are agile to change, win. Numerous opportunities still can be found if companies invest their time and resources in understanding consumers’ changing behaviors, expectations, desires and evolving needs and by ensuring they implement the right strategy for specific regions and trade channels.

Source: Campaign Asia-Pacific

Gains on both bourses as liquidity rises, VN-Index up 1.12%

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The market become more active towards the end of the day on September 7. Banking, insurance, and securities attracted the highest money flows, with breakout stocks including BVH, ACB, BID, CTG, MBB, VCB, HCM, SSI and VND.

Real estate and construction stocks such as NVL, NLG, PC1, DXG, LDG, HBC, HAR and FCN also performed strongly. My Van reported on VNEconomictimes

Blue chips such as GAS, DHG, FPT, DPM, HPG, PNJ, MSN, PLX, VJC and VRE also supported the market.

The VN-Index closed up 10.71 points (1.12 per cent) to 968.9 points, the HNX-Index 1.26 points (1.14 per cent) to 111.74 points, and the UPCoM-Index 0.13 points (0.26 per cent) to 51.04 points. Market liquidity improved significantly, with matching order value reaching nearly VND4 trillion ($43 million). Foreign investors net bought by nearly VND160 billion ($6.8 million).

In the derivatives market, the HNX-Index rose strongly from 8.8 to nearly 11 points but was slightly lower than the VN30-Index.

Foreigners were net buyers again on HSX, by 3.38 million shares worth VND152.86 billion ($6.5 million).

HPG was net bought the most, by VND53.57 billion ($2.2 million), followed by VCB, VNM, KDC and HCM.

NVL was the most net sold stock, by VND19.42 billion ($831,945), followed by GAS, VIC, GEX and VND.

On HNX they net sold by 1.46 million shares worth VND20.49 billion ($878,850).

DBC was bought the most by foreigners, with VND2.14 billion ($91,945). No foreigners were net buyers on HNX by more than VND1 billion ($43,000). VGC topped the list of net sold stocks, with VND9.85 billion ($422,025), followed by PVS, CEO and TNG.

Foreigners net bought on UPCoM for the sixth session in a row, by 1.33 million shares worth VND25.92 billion ($1.1 million).

Jokowi Widodo visits Vietnam to boost cooperation

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Indonesia’s President Joko “Jokowi” Widodo will visit Hanoi from Sept.11 to 12 to develop economic cooperation and expand market access between Vietnam and Indonesia.

Foreign Ministry spokesperson Arrmanatha Nasir said viewing areas of potential, the president was keen to ensure that the two countries had the opportunity to co-operate further. Jakarta Post reports.

Vietnam and Indonesia have two of the largest populations in ASEAN, and both countries have shown strong economic growth over the past three years. In terms of trade and investment, the governments of both countries are determined to reduce trade barriers. (Vietnam News/ANN)

The leaders previously agreed to accelerate the implementation of an action plan to improve the Vietnam-Indonesia Strategic Partnership during the 2014-2018 period and also forge economic, trade and investment relations.

During his stay, Jokowi is scheduled to meet his Vietnamese counterpart Tran Dai Quang to discuss a number of issues, including co-operation in maritime and fisheries as well as the completion of Exclusive Economic Zone boundaries in the East Sea.

Arrmanatha said maritime border negotiations would be a lengthy process, and hoped for a political push from the two leaders to accelerate the work.

The governments of both nations will also sign two memoranda of understanding on health and tourism, as well as issue a joint communiqué on illegal, unreported and unregulated fishing.

AmCham launches 2018 scholarship program in Vietnam

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The American Chamber of Commerce in Vietnam (AmCham) will award 60 scholarships valued at VND12 million each to students from 18 leading universities in HCMC and Binh Duong Province as a way to mark the 18th anniversary of AmCham Scholarship this year.

All the AmCham Scholarship candidates are expected to have good academic performance, fluent communication in English and active participation in extracurricular activities. Minh Tuan reports on SGT.

Aside from financial support, the annual AmCham Scholars will also have the chance to be involved in certain AmCham activities, to join the AmCham Scholars Alumni (ASA) Club, and to be recognized by nearly 500 AmCham companies.

With a desire to expand the program to other universities in HCMC, the Scholarship this year has the participation of students of University of Finance and Marketing, Ton Duc Thang University and HCMC University of Technology.

Two information sessions were organized on September 8 at HCMC University of Technology and

Education and ITAXA Center to provide participants detailed information about the scholarship.

Other information sessions will be held on September 15 at Bach Khoa University and University of Finance and Marketing.

Vietnamese undergraduates in their third year or above of the 2018-2019 academic year from 18 selected universities can apply for the scholarship. Applicants will go through three sequential stages of assessment process, including application screening, abilities test, and interview in English with AmCham Vietnam HR Committee and senior specialists from AmCham member companies. The results will be announced on November 26.

The annual AmCham Scholarship program is part of AmCham’s community development efforts to improve the business environment in Vietnam by helping develop high quality human resources for its member companies, as well as helping students develop essential professional working skills.

From the beginning in 2001 with 10 scholarships and three university partners, till now, over a 17-year period, AmCham has awarded a total of 815 scholarships and 250 honorable mention awards to students from 15 universities in HCMC and Binh Duong Province.

Phan Minh Liem, president of the Vietnam-U.S. Biomedical Institute and member of AmCham Scholar Alumni since 2004, shared: “AmCham Scholarship is a valuable opportunity for me to learn and be connected with the senior and junior members in AmCham Scholar Alumni network. This is a group of talented, young, enthusiastic, community-minded people, actively supporting each other and contributing to society.

“I am very honored to be a member of AmCham. My teammates and I are delighted to have the opportunity to accompany the AmCham scholarship program as this is a very meaningful activity, connecting and developing the young talent of the country.”

13 ways sex is good for your body and brain

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Humans spend an inordinate amount of time thinking about, pursuing, and having sex. It’s not just about making babies, because people have sex long before and after they have children — if they have them at all.

According to a report on Business Insider, There are many other reasons people can’t keep their hands of each other — some are physical, some are emotional, some are goal-oriented, and others may be due to insecurity.

Whatever the reason, if you’re having frequent sex, you’re likely to see some benefits. Not only is it good for your mental wellbeing, it will probably have a positive impact on your general health too.

Relate: Flirting with girl

Several studies over the years have shown the effects of having sex. Here are 13 of the main findings so far.

1. Sex releases chemicals that ease pain

Endorphins are the body’s natural painkillers. During sex, endorphins flood the body and brain, easing any discomfort. For some people, it can cure a headache. This may be due to endorphins, or the release of the neurotransmitter serotonin, which makes you feel happy

2. Sex burns calories

Sex isn’t as good as other forms of exercise, but it certainly does burn a fair few calories. One study from the University of Montreal looked at how many calories couples burned during sex. During a 30-minute session, men burned an average of 101 calories, while women burned 69. That was about 4.2 calories or 3.1 calories per minute

3. It boosts your immune system

A study published in the journal Psychology Report found students who had sex at least once a week had higher levels of a certain antibody which is vital for fighting off illnesses. In fact, the levels were 30% higher than in those who had no sex at all.

4. Sex is good for the heart

According to the NHS, anything that exercises the heart is good for you, and that includes sex. But the benefits depend on how rigorous you’re doing it. On average, the peak heart rate during sex is about the same as walking up a flight of stairs, and the recommendation is to workout moderately for about 150 minutes a week.

5. it helps with stress

As well as all the feel-good chemicals your brain releases during sex, you also have a decrease in cortisol. Research has shown how penetrative sex helps people cope the best with stress, but all kinds help people relax.

6. It lowers the risk of prostate cancer

A study published in the BMJ in 2004 found that frequent ejaculations appear to be linked to a decreased risk of prostate cancer. Out of 50,000 males aged between 40 and 75, men who reported 21 or more a month were less likely to get prostate cancer than those who reported four to seven. A follow-up study replicated the results.

7. Sex makes you feel healthier

Sex can also boost your sense of wellbeing. According to a study of 3,000 Americans aged 57 to 85, people who were having sex rated their general health higher than those who weren’t getting any. Love was also linked with people saying they were in “excellent” health rather than “good” or “poor” health.

8. It reduces the risk of an ulcer

A happy marriage has been shown to reduce the risk of angina (a heart condition) and stomach ulcers in men, according to research. In one study of 10,000 men, those who felt “loved and supported” had a lower risk of angina. In another study of 8,000 men, those who had problems at home had more of a chance of developing a duodenal ulcer. Sex isn’t the only way to show love and affection, but it’s certainly one.

9. Sex lowers your blood pressure

People who embrace each other frequently will probably have lower blood pressure, according to a study from 2003. Couples who held each other’s hands for 10 minutes then hugged for 20 seconds weren’t as worked up about stress from activities like public speaking.

10. It improves sleep

As previously discussed, sex is exercise, so it’s normal to feel tired after it. But the release of oxytocin also helps you feel sleepy. For men in particular, an orgasm reduces activity in the prefrontal cortex of the brain, which is really important for getting a good night’s sleep. A study, reported by the Mail online, showed how the blood rush after climax depletes muscles of energy-producing glycogen — exhausting you further.

11. Sex helps men be more in touch with their emotions

In 2005, research from the University Medical Center Groningen found how sex can help men get in touch with their emotions. Men were hooked up to brain scans to monitor their cerebral blood flow while their female partners stimulated them. The results showed that blood flow was increased to the the posterior insula, and decreased to the right amygdala. The insula is an area that has been linked to processing emotions, pain, and warmth.

12. It helps boost memory

Sex can improve people’s performance in short-term memory tests, according to a study from earlier this year. Some researchers conclude it is because sex boosts brain cell growth in areas of the brain associated with memory, while others suggest it’s because of the sexual “afterglow” that pumps us full of dopamine and oxytocin. There is a growing body of research that shows how sex improves brain power.

13. It could help reduce anxiety

Blood flow decreases to the amygdala during sex — the area of the brain linked to anxiety disorders. A lot of blood flowing to the amygdala may increase the chance of developing an anxiety disorder or other mental health problems, so sex might be one way to reduce that risk.

Hanging out with friends is good for you, too.

For people who are single or celibate, hanging out with friends is great for your health too. One study of 1,500 people over 70 years old found those who had strong friendships lived longer. It could be because friends have a positive impact on our health and lifestyle choices, or simply because they are there for emotional support.

80 start-up firms to feature at World Economic Forum in Vietnam

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Some of the most innovative start-up firms from the ASEAN region will be featured for the first time at the World Economic Forum on ASEAN here on Sept. 11-13, its organizers said here on Saturday.

Among nearly 300 start-ups from across Southeast Asia applied to join the forum, 80 were selected by a panel of judges from start-up accelerators, venture capital funds, technology experts and media leaders.

The selected start-ups represent a wide variety of sectors, from financial services, logistics and e-commerce to agriculture, media and healthcare.

Their products and services range from smart fertilizers that reduce nitrous oxide emissions, a potent greenhouse gas, to sharia-compliant bitcoins to new healthcare options for elderly care.

“We expect the startups to make an important contribution to shaping the debates at the meeting about the impact and course of new technologies and disruptive business models. We believe that they will enrich important discussions about how to upgrade innovation ecosystems and promote entrepreneurship,” said Justin Wood, Head of Asia Pacific and Member of the Executive Committee at the World Economic Forum.

The startups will also benefit from their interactions with the other 1,000 participants at the forum, including 90 government ministers and 600 business leaders from more established companies, he added.

Finance ministry proposes ban on raw mineral exports

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The Ministry of Finance is proposing a sweeping ban on the export of raw minerals, a move that would indicate an escalation of the Government’s generally negative stance on a practice that generates little value while causing environmental devastation.

The proposal was revealed in a recent document the finance ministry sent to the Ministry of Industry and Trade (MoIT) that contains numerous measures to boost State management of mineral resources.

Lưu Mạnh Tưởng, director of the Import and Export Taxation Department, General Department of Việt Nam Customs (under the finance ministry), told Tuổi trẻ newspaper that the Party and the State have always supported the export of highly processed minerals that carry high added value.

Tưởng pointed out that tariffs on many minerals cannot be raised to reduce export because materials such as iron, copper and lead are subject to export taxes as high as 30-40 per cent, already reaching the maximum duty level.

“Raising tariffs even more is not appropriate. The remaining viable measure is to implement ‘technical barriers’ but this responsibility rests with the MoIT, outside the jurisdiction of the finance ministry,” Tưởng said.

Nguyễn Minh Đức from the legal department of the Việt Nam Chamber of Commerce and Industry (VCCI) told Tuổi trẻ (Youth) newspaper the proposed could be in violation of Việt Nam’s commitments to the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP).

Đức said Việt Nam maintains an export tariff on raw minerals during negotiations, but once CPTPP comes into effect Việt Nam would have to eliminate them.

“Any measure to limit export of minerals must be carefully studied,” Đức said.

He also said that Việt Nam’s tax policies on mineral exports have seen “rapid swings” in recent years. This uncertainty did not encourage long-term investment, giving rise to slapdash short-term mining activities.

“Natural resource management must be based on the three pillars of revenue transparency, selling at the best price and developing the domestic processing industry,” he added.

Technical standards

Other experts on mining said the proposal isn’t new, but the ban has not made it into actual policies because there have not been technical standards for what constitutes “unprocessed”, “processed” or “highly processed” minerals.

Mineral expert Nguyễn Thanh Sơn said there are different levels of processing for raw minerals, and not all of them need to be highly processed. As a result, a uniform policy for all types of minerals is not advisable – each mineral should be considered independently.

“Take bronze for example, which only needs moderate processing to fetch a decent price. On the other hand, the more refined titanium is, the higher price we can get,” Sơn said.

Trần Văn Miến, geology head of the General Department of Geology and Minerals of Việt Nam, favours the raw mineral export ban but agreed there should be processing guidelines for some minerals.

“I think the authorities should issue a document which details optimal processing levels, financially speaking,” Miến said. “Of course, there couldn’t be separate regulations for all types of minerals, but it would be a basic management tool to ensure a balance between mineral exploitation, processing and environmental protection.”

Limit low-tech mining

Previously, Prime Minister Nguyễn Xuân Phúc has ordered limiting small-scale and low-tech mining projects of minerals such as gold, copper, nickel and molybdenum, which “causes pollution and losses to the country’s natural resources.”

Phúc urged the formation of large-scale mining enterprises that make use of advanced technologies – especially new processing and environmental protection techniques.

Recently, mineral export has been on the rise. According to latest reports from the Customs Authority, the country had exported more than two million tonnes of ore by July 15, netting US$101 million in revenues.

75 per cent of the exported ore, totaling 1.5 million tonnes, was sent to China.

Việt Nam’s mineral export to China has been criticised lately due to the perception that the selling price is under market value, while Việt Nam still imports a vast amount of minerals from China.

Most of the minerals exported to China are in their raw, unprocessed form, meaning that the relatively minor trade gains they provide are outweighed by the level of ecological damage caused by mining activities.

Source: VNS

Vietnam has placed orders for Russian weapons worth US$1 billion

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Vietnam has placed orders for Russian weapons and military services worth more than US$1 billion, Russia’s TASS news agency has reported, as the Southeast Asian country bolsters its defence capability.

“We have a portfolio of orders worth more than US$1 billion,” TASS cited Dmitry Shugayev, head of Russian Federal Service for Military-Technical Cooperation, as saying on Thursday.

According to an article, written by Khanh Vu; Editing by Robert Birsel on Reuters, the report came during a visit to Russia by Nguyen Phu Trong, the general secretary of Vietnam’s Communist Party.

It did not give any details of the deals.

Vietnam and Russia have had close relations for decades.

Russia is Vietnam’s biggest weapons supplier and Russian companies are involved in several Vietnamese energy projects.

Vietnam had earlier bought six state-of-the-art Kilo attack submarines, along with several warships, jet fighters and other military equipment from Russia.

“The two sides have confirmed their commitment to continue developing their military ties,” Vietnam’s Communist Party said in a statement on Friday, after a meeting in Russia between Trong and Russian President Vladamir Putin.

Vietnam has been one of the world’s most active arms importers over recent years, amid China’s increasingly aggressive territorial claims in the Vietnam East Sea, where the neighbour have long-standing rival claims.

Vietnamese and Russian companies signed several cooperation agreements during Trong’s visit, including three on banking cooperation, according to the Vietnamese government.

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