Vietnamese Miss Eco International sex scandal

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According to Dtinews, Miss Eco International organizers have announced they will strip Vietnamese representative Thu Dung of her 3rd runner-up title following her being investigated as part of a prostitution ring

An announcement from Miss Eco International posted on Facebook on September 6

“Miss Eco International announce that Miss Thu Dung who represents Miss Vietnam and was our 3rd runner up, is no longer a title holder as she broke our terms and conditions,” the organizer wrote in a Facebook post on Thursday.

Thu Dung represents Vietnam at the Miss Eco International 2018

The same day, Thu Dung was also stripped of title as the runner-up of the Vietnam Top Fashion Model contest 2018 after the police announced she involved in a large prostitution ring.

Thu Dung and three other young women were caught working as sex workers

According to a report from Ho Chi Minh City Police, Thu Dung and three other young women were caught working as sex workers at two hotels in District 1 and District 5 on August 30.

Four girls are caught working as sex workers at two hotels in District 1 and District 5 in Ho Chi Minh City on August 30.

Thu Dung and the three women, including a famous MC and two university students were all working in a large prostitution ring run by a local man, Kieu Dai Du, 22, the report said.

The prostitutes many of whom are models, actresses or winners at beauty contests had been part of a ring operating for two years. They were paid thousands of US dollars for their work.

At the police station, Du said that Thu Dung was being paid USD7,000 per hour.

Kieu Dai Du at the police station
Du told the police that he learned how to run a prostitution ring during the time working as a GrabBike driver when he transported a lot of prostitutes.

Du contacted young models, actresses or newly-crowned beauty queens and then introduced them to customers via Zalo. He earned 30 percent from each deal, Dtinews reported.

Photo contest for Vietnamese and foreigners launched

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The 5th Golden Moment Press Photo Contest for Vietnamese and foreign amateur and professional photographers has been launched officially. Participants can send their entries by a form on http://khoanhkhacvang.vnanet.vn//dang-nhap.html  or email to: khoanhkhacvang05@gmail.com.

According to a report by Vietnam News Agency, the photos can be related to Vietnamese politics, diplomacy, economy, culture, health, education, sports, or environment, and should be taken between January 1, 2017, and November 30, 2018.

“We want to create a playground for both professional and amateur photographers,” said Nguyen Thang, editor in chief of Vietnam Pictorial Review and a member of the organizing board.

“The photos could have been published or not. We encourage participants to send photos taken on both cameras and mobile phones.”

Thang said the photos should be in a jpeg file of at least 2MB and 2,000 by 3,000 pixels with a resolution of 300 pixels/inch.

“All technical details should be in the file. We will not consider photos that have been changed or edited in any way. Participants are responsible for the copyright of the photo they send to the contest.”

In case of photo essays or group of photos, no more than three photographers can send them and not more than 12 photos can be sent, he said.

Le Quoc Minh, chairman of the contest, said due to financial difficulties VNA has been unable to host the 10-year-old contest every year.

“But with sponsors now, we hope to organise it every year.

“Though videos are the latest in journalism, photos still play an important role in journalism.

“With the popularity of smart phones capable of taking good photos, we have nearly 90 million amateur journalists who can capture the most precious moments in daily life.”

The contest carries a Grand Prize of VND35 million (US$1,500).

The photo essay offers a first prize of a Leica C-Lux camera (worth VNĐ27.9 million) sponsored by the Leica Boutique Việt Nam besides two second, three third and several consolation prizes.

For single photos, there is a first prize of a Canon EOS 750D (worth VND22.9 million) sponsored by Le Bao Minh Investment JSC and again two second, three third several consolation prizes.

There are also prizes for photos taken with mobile phones sponsored by Chinese mobile phone maker OPPO.

The first prize in the single photo and photo essay categories will be an OPPO P9 mobile phone.

Entries will be accepted until 6pm on November 30 this year.

Hyosung given the green light to build a US$1.2bn complex in Vietnam

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South Korean fibre giant Hyosung has been given the green light to build a US$1.2bn complex in Vietnam in a move aimed a solidifying its presence in the country.

Covering 60 hectares, the facility will include a propane dehydrogenation (PDH) production plant, polypropylene (PP) plant, liquefied petroleum gas (LPG) storage tank, and LPG and petrochemical product warehouse at Cai Mep Industrial Zone in Ba Ria-Vung Tau located near Ho Chi Minh City. The complex is expected to come into commercial operation in 2020, according to Vietnam Investment Review.

The group plans to locally produce PP, which is used to manufacture textiles, various containers, drain pipes, and medical syringes.

The investment plan by Hyosung will see the start of a chemical and heavy industry business for the company in the country, in addition to its textile business. The company is also considering constructing an additional production subsidiary in Quang Nam in the central part of Vietnam.

Once the project is complete, Hyosung Vietnam will have attained a production base for manufacturing the products in all of its business divisions, targeting the global market “both in name and reality”, the company says.

Hyosung Vietnam has already implemented an integrated production system for spandex and tyre cords to maximise production efficiency in the country.

The company says that by increasing its investment in Vietnam, it will allow Hyosung to realise the export competitiveness of its domestic product bases.

Vietnam, China to allow tourist cars entering border provinces

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Vietnam’s northern Lang Son province has allowed cars driven by Chinese nationals to enter the province for tourism purposes on a trial basis, and south China’s Guangxi Zhuang Autonomous Region has applied the same policy.

Each convoy of cars driven by Chinese nationals should consist of three cars at least and 10 cars at most, and the tourists can stay in Dong Dang-Lang Son border economic zone in Lang Son for a maximum of three days, the provincial Department of Culture, Sports and Tourism said on Thursday. Xinhua reports.

The number of such cars entering Lang Son and then running in the zone is capped at 50 a day.

Meanwhile, Vietnamese tourists can drive vehicles to the two cities of Chongzuo and Nanning in south China’s Guangxi Zhuang Autonomous Region.

The new route was launched on Thursday, helping to boost tourism and transport ties between the two localities.

In March, Vietnam’s northern Quang Ninh province allowed cars driven by Chinese nationals to enter Ha Long city, home to the world heritage site of Ha Long Bay, through Mong Cai border gate for tourism purposes on a trial basis.

Vietnam receives 3.4 million Chinese visitors from January to August, or 32.7 percent of the total international arrivals, seeing a year-on-year increase of 28.2 percent, said the Vietnam National Administration of Tourism.

Meanwhile, Vietnam hosted a total of 10.4 million international arrivals, up 22.8 percent year-on-year, with the highest growth of 52.4 percent in the number of visitors from South Korea, followed by Finland and China.

10 Indonesian destinations promoted in Vietnam

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The Tourism Ministry is conducting a sales mission to promote 10 Indonesian destinations in Ho Chi Minh City, Vietnam.

Participating in the 2018 International Travel Expo Ho Chi Minh City that runs from Sept. 6-8 at Saigon Exhibition & Convention Center, the ministry is bringing 10 sellers from Bali, Yogyakarta, Riau Islands and Papua.

Among the destinations highlighted by the sales mission are Bandung, Bali, Jakarta, Riau Islands, Yogyakarta-Surakarta-Semarang, Wakatobi-Bunaken-Raja Ampat, Medan, Makassar, Lombok and Banyuwangi.

Indonesia seeks to attract more tourists from Vietnam this year; it welcomed 64,000 Vietnamese last year and is expecting to lure up to 74,000 in 2018.

Masruroh, the ministry’s official in charge of marketing development for Region I, said in a statement that Indonesia considered Vietnam a promising market with ongoing growth in tourism. This was due to the country’s increased economy that was boosting the number of middle-to-high income citizens who could afford vacations abroad.

Last year, there were some 8 million outbound Vietnamese tourists, with the main destinations including Japan, Thailand and China. Indonesia does not yet appear high on that list.

“Based on a survey conducted by the ministry, Vietnamese enjoy luxury and modern travel. They love to shop, spa and [stay at] resorts, which are plentiful in Indonesia. Additionally, its young travelers also look for adventurous or adrenaline-pumping activities,” said Masruroh, as quoted by kompas.com.

Aside from the sales mission, the ministry also held a familiarization trip (famtrip) that invited media and tourist industry representatives as endorsers to explore destinations in Indonesia that are suitable for Vietnamese.

By The Jakarta Post

 

Stock market fluctuates – VN-Index down on low liquidity

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Selling pressure eased on the morning of September 6 after three sessions of aggressive selling, but cash flows were not strong and the market fluctuated on this low liquidity.

The VN-Index ended the morning session down just 0.08 per cent with 122 shares increasing and 142 decreasing. It hit its bottom, down 0.37 per cent, just prior to 10.30am. The second half of the session slow a recovery amid low liquidity. The VN30-Index, meanwhile, gained 0.22 per cent, with 16 gainers and 12 losers.

According to a report by Hai My on VNEconomictimes, bluechips performed better than the average on HSX, with the most active being MSN, up 1.94 per cent, HPG 1.3 per cent, GAS 0.6 per cent, and VCB 0.5 per cent.

Liquidity plunged 21 per cent in the morning session and was weak in both halves, including when it recovered in the second half. The total matching order value reached VND1.6 trillion ($68.7 million); the lowest in eight weeks.

No shares matched more than VND100 billion ($4.2 million) in the session, with the highest, HPG, being VND87 billion ($3.7 million). In the Top 10 stocks with the highest liquidity, the only two losers were VPB, down 0.99 per cent, and VNM 0.08 per cent.

Trade on HNX, meanwhile, was more balanced. Key indices were up 0.56 per cent with 69 gainers and 63 losers. The HNX30-Index rose 0.28 per cent with 12 shares increasing and ten falling. ACB did the best, rising 1.22 per cent.

Foreign investors continued to be net sellers but not by a large margin. On HSX, they sold VND233.2 billion ($10 million) and bought VND160.8 billion ($6.9 million) and on the VN30 sold VND143.3 billion ($6.1 million). In the HNX-Index they bought VND26.2 billion ($1.1 million) and sold VND19.5 billion ($837,015).

There were no foreign net buyers of bluechips.

The loneliness of Vietnam’s LBGT community

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‘A friend of mine committed suicide after I abandoned him for him confessing his homosexuality to me.’
Shocking, poignant stories were narrated at an unusual event hosted recently by the U.S. Consulate General in Ho Chi Minh City.

The Storytelling Contest on LGBTQI issues, involving members of the community as well as their families and friends, was part of a series of mini events supporting Viet Pride.

Viet Pride is an annual event that focuses “on celebrating the freedom of love and personal expression, regardless of sexual orientation and gender identity.”

Most of the 23 contestants who participated in the event were 15-25 years old. Some sat alone, some surrounded by friends and families. Some looked cheerful, others looked nervous.

But when the story telling began, people bared their souls and shared their anguish.

Tran Duc Bao, who won the first prize at the contest, shared how his name was modified to mock him. His friends and classmates called him Bao Duc, the initials of which fit the pronunciation of “Bê đê”.

“Bê đê,” originating from “Pé dé,” a French slang for homosexual, is a derogatory term widely used to attack gays in Vietnam.

“I used to bite my pillows in tears,” Bao said.

Bao was a natural on stage, which was a winning element in his presentation, apart from his story. He demonstrated how he walks, according to his haters: pelvis out, shoulders back, a limp wrist, hips swishing from side to side. This was obviously a deliberate exaggeration, because Bao’s gait is nothing like the stereotype.

The 17-year-old student questioned the modern day freedom that does not grant him the freedom to be himself.

‘More normal’

Another contestant, Vu Hoang Thanh Trang, did not suffer any discrimination.

She was the discriminator.

When her friend confessed that she liked her, Trang reacted in a shocking way that silenced her friend and drove her away. When Trang managed to apologize, her friend broke to tears and the two embraced each other.

“I wish I was more normal,” her friend said.

Trang has since been accompanying her friend on her journey to find herself, providing her the mental support she needs. In the process, Trang has become a pillar of support for many other friends who face the thorny challenges faced by all LGBTQI individuals. She invited others around her, including the audience present, to expand their horizons on sexual orientation.

“Society cannot change immediately. If we can only inspire 3-5 people, that is okay. We are here, we can fight the stigma. We will make a difference, one mindset at a time,” the 18-year-old said.

A ‘made-up’ story

Among many captivating stories, one by Ngo Thanh Triet stood out.

A Vietnamese student in Finland who calls himself “a gay guy who likes make-up,” Triet’s attempt to boost his self-esteem backfired quickly.

“I felt judgmental eyes on me from everyone around me because of my make-up.”

And this was happening in Finland, a country far more progressive and empathetic towards LGBTQI appearances and rights than many countries, including Vietnam.

Then, something else happened.

“One time, when I was at a bar, there were two girls sitting not so far from me.

“They were looking in my direction, with their hands covering their mouths as they spoke, and I realized they were talking about me.”

The women ended up approaching Triet, and asked him a question he did not expect: “What highlighter do you use?”

It hit Triet then that he does not really know what people think of him – his own negative thoughts were wreaking havoc.

“So why do I stress myself about what others think of me?”

Misunderstanding, cruelty

Despite the upbeat nature of several stories, the pain caused by a society that discriminates against them was evident.

At another LGBT event hosted by the U.S. Consulate General last month, Doctor Nguyen Tan Thu and psychologist Mia Nguyen addressed common misunderstandings and responses that causes more suffering.

“To cure homosexuals, doctors injected hormones into them. If that does not work, they were subjected to electric shocks, either on top of their head, arms, or sexual organs,” Thu said.

There was one gruesome method the doctor mentioned that sent shivers down the audience’s spine: corrective rape. The term was coined in South Africa after numerous rapes of lesbians. Perpetrators claimed that the act would transform the homosexual victim into heterosexual.

Thu categorically stated that all the abovementioned conversion therapies do not change the sexual orientation of “patients.”

An openly gender queer person himself, Thu is an ardent activist for LGBTIQ rights. He is now a consultant for Program for Appropriate Technology in Health (PATH) where he provides counseling and HIV test referrals for men who have sex with men (MSM).

Boi Nhi, a freelance actress and health consultant at My Home Clinic, a LGBTQI-friendly clinic that welcomes patients who are afraid to go to public and private hospitals, spoke openly about her predicament.

She said that hormones used by transgender individuals are not regulated in Vietnam. “Transgenders like me who use these hormones are not protected by law,” Nhi said. Homosexuals who want to become transgenders often look up to those who have already had sex reassignment surgery and seek their advice on hormone use, the actress said.

“We have no idea what these pills contain. Because the Ministry of Health does not inspect and supervise these hormone pills, we as transgenders have to resort to advice from successfully transgendered people for medical advice and support so that we can eventually find ourselves just like they did,” Nhi said.

Mia Nguyen, a psychologist who has worked with the LGBTQI community for over a decade, told VnExpress International that sex reassignment surgery was not covered by health insurance in Vietnam. In contrast, in Australia, where she has worked since 2007, counselling and hormone therapy for people undergoing the surgery are covered by health insurance. She hoped that the operation will soon be covered by health insurance in Vietnam.

Vietnam is regarded highly in the region when it comes to supporting LGBTQI rights. It scrapped the ban on same-sex marriage in 2014. However, the nation’s laws does not recognize nor protect gay couples.

Harsh attitudes at home remain one of the toughest challenges facing Vietnam’s LGBT community.

Ending it all

“My friend committed suicide after I abandoned him for him confessing his homosexuality to me.”

When Bui Quang Nghia’s friend came out of the closet and confided in him, Nghia cut off contact. He did not answer texts or phone calls. And before he could realize how much hurt he had caused by shunning his friend, it was too late. The friend overdosed on sleeping pills.

Nghia did not cry, but the pauses in his storytelling were pregnant with grief.

Nguyen Khanh shared another dramatic story about a friend of his.

He seemed to have everything anyone could want. He was intelligent, sociable, ambitious and had an excellent education funded by his family. But there was something inside that had been eating him up for a long time – his unorthodox sexual orientation.

As Khanh spoke, a picture of a railway track appeared on the screen.

“He stood there, one step away from death. He wanted to end it all. Do you think he jumped?”, he asked, and the audience tensed up.

Nguyen then took a symbolic step back and said with a smile, “Fortunately, he did not. Because he is me.”

Sen report on Vnexpress

The 10 Best Coffee Shops and Cafés in Dalat, Vietnam

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Look beyond the popular coffee chains like The Coffee House, Phuc Long and Highland Coffee and you’ll find the real hidden gems in Da Lat. Here are some of the best cafés and coffee shops the city has to offer.

From coffee shops with a social mission, to those with over 50 years of history, and some boasting magnificent views, Da Lat is full of excellent cafés waiting to be discovered.

HOUSE OF THE YOUTH

Cafe, Dessert, $$$

A garden paradise | © House of the Youth

Spearheaded by the charming Mr. Luan, House of the Youth (Thời Thanh Xuân) is a quaint little café run by a team dedicated to one social mission: empowering the deaf. The premise of the café is rather unique – you are encouraged to sit in silence and only whisper among your friends. To order, you simply point at an item on the menu. The teas are made from in-house grown ingredients, the coffee from nearby farms and the desserts homemade. What adds to the uniqueness is that there is no indication of price – the café is run on donations. Make sure to head into the small store full of handmade chocolates, candies, soaps, shampoos, essential oils, tea, coffee, and wooden kitchen tools, all made by the team. Mr. Luan spends his time teaching the team the beauty in making arts and crafts. Any money earned from these will go towards supporting the cause.

LA VIET COFFEE

Cafe, Vietnamese, Dessert, $$$

Coffee is on! | © La Viet Coffee

In Da Lat, people once gave up on coffee due to its exhaustingly low returns on investment, but thanks to the guidance of Mr. Quang of La Viet Coffee, things turned around and coffee farmers now are not only able to make a modest living but also do so sustainably. La Viet Coffee dons a modern industrial look with its warehouse-like interior surrounded by glass walls, and the roasters placed prominently in the back add a nice touch. The beans are handpicked by the team who are trained by Mr. Quang to follow international agricultural standards, so expect to pay a little above average. Don’t go in here looking for your cà phê sữa dá – Mr. Quang believes you can’t taste the true coffee flavor by diluting it with milk. Sit at the bar and have a chat with the knowledgeable and skillful baristas – there really is a lot to know about the world of coffee.

TUNG CAFÉ

Cafe, Vietnamese, $$$
Tung Cafe is one of the oldest cafés in Da Lat, having served its first cup of coffee in 1955. The location changed in 1960 and since then there have been no alterations to the interior decor, especially the valuable paintings that represent the artistic tastes of a bygone generation. Back in the day the café was popular among the gentlemen in town, and many historic individuals passed by and enjoyed a cup of coffee along with a cigar.

CUNG TƠ CHIỀU

Cafe, Vietnamese, $$$
Cung To Chieu is another interesting café in Da Lat, run by the eccentric 40-year-old Mrs. Giang who has come up with a simple set of rules for guests to follow – don’t talk louder than the music, don’t turn your feet to others’ faces and dress comfortably but politely. The menu here is simple, yet satisfies the most ardent of coffee enthusiasts. Mrs. Giang also likes to sing romantic and sorrowful stories of her past on the stage.

ROSE VILLA CAFE

Cafe, Vietnamese, $$$

Coffee and roses | © Rose Villa Cafe

A wooden cottage painted in white, decorated with rustic tables and chairs, set amongst a garden of roses, the Rose Villa Cafe is an Instagram-perfect venue. The menu doesn’t overwhelm and your order comes with a side of free iced tea. Try the bánh mì ốp la for breakfast with a cà phê sữa dá and enjoy the ambiance. There is free Wi-Fi available, but you really don’t need it if you’ve got a good book or friend to keep you company. Great for a stopover when visiting Crazy House, a popular attraction in Da Lat.

BREW AND BREAKFAST

Cafe, Vietnamese, American, European, $$$

Coffee everything | © Brew & Breakfast

Hidden in an alley down Trần Hưng Đạo street, Brew and Breakfast is a specialty coffee bar, restaurant and homestay, especially known (as the title suggests) for its coffee and breakfast. Run by an English couple who settled down in Da Lat for their love of coffee, it’s a favorite spot for brunch among the expats that work in the area. The menu is plant-based and the specialty coffee is hand-roasted and brewed on site. A fun Dachshund named Komodo will welcome you at the door, running around your feet while the four cats will be found lounging about getting some sun. You can book coffee tours here.

AN CAFE

Cafe, Vietnamese, $$$

Peace | © An Cafe

An means peace in Vietnamese. Lying aside the slope on street 3/2 (February 3rd slope), An Cafe is a great spot for those who love nature and want to find a place to get away, even if just for a moment. Tables and chairs in An Cafe are handmade from wood with delicate designs, and you will find that each table has a small potted plant: cabbage, basil, mint, etc. It’s like a tiny garden, where plants decorate literally everything – from the tiny garden outside to shelves, tables and walkways. Even their straws are made of bamboo shoots!

MILANO CAFÉ

Cafe, Vietnamese, $$$
Milano Café is a widely known franchise brand in Vietnam, found in major cities such as Ho Chi Minh City, Hanoi, Da Nang, etc. It’s a very local spot, but the menu does have English translations. Walk into any Milano coffee shop in the country, and you will find three milk and non-milk coffee choices labelled simply as option 1, 2, and 3. The ratio is for them alone to know – take a gamble. Undoubtedly, all are equally good. Other than coffee the menu includes fruit juices and tea.

WINDMILLS COFFEE

Cafe, Vietnamese, $$$

Evening well spent | © Windmills Coffee

Windmills Coffee is impressively decorated, a romantic place for couples to enjoy a coffee date, despite being in the city center. The menu includes delicious meals in addition to coffee and tea, such as pizza and pasta. All produce is locally sourced and truly organic. You can top off your meal with their delicious desserts, and make sure to try their homemade yoghurt! There are four branches in the city. Visit either one of them and take a walk around town.

ME LINH COFFEE GARDEN

Cafe, Vietnamese, $$$

Coffee with a view | © Me Linh Coffee Garden

Me Linh Coffee Garden has some of the best views in Da Lat. On the menu, in addition to your normal coffee drinks, you will find the unique weasel coffee (also known as ca phe chon) which you can enjoy with your full 360-degree view of the coffee farm and Cam Ly Lake in front of you. To get here is a bit of a ride – a 12-mile (20 kilometer) drive from the city center, through Ta Nung mountain pass.
By Piumi Rajapaksha, The Culture Trip

Now Trump is targeting Vietnamese refugees

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In its insatiable quest to rid the U.S. of immigrants, the Trump administration has been rounding up Vietnamese refugees who have been in the country for more than a quarter of a century and trying to send them back to Vietnam — despite a formal bilateral agreement that refugees who arrived here prior to the 1995 normalization of relations between the two countries would not be sent home.

In a number of cases, the refugees have been held in detention centers for months as the government sought to obtain travel documents from the Vietnamese government, and despite a Supreme Court decision that said the government could not detain someone for an extended period of time if it was unlikely the home country would accept the deportee.

After the end of the Vietnam War, and after the North Vietnamese communist government unified the country, hundreds of thousands of South Vietnamese — many of whom fought alongside or cooperated with American forces — fled for safety, often boarding rickety boats to cross the South China Sea. In many cases, the refugees were stateless, because they were citizens of South Vietnam, a country that dissolved with the end of the war.

Nearly 1.3 million eventually settled in the U.S., some 200,000 in and around Orange County’s Little Saigon.

That large a population is bound to include some people who break the law, and upward of 10,000 Vietnamese have been ordered deported by immigration judges after being convicted of often serious crimes in American criminal courts. But for more than three decades after the war ended, the Vietnamese government refused to accept deportees from the U.S., viewing the refugees as political enemies or possible American spies.

That changed in 2008, when the George W. Bush administration reached an agreement under which Vietnam would accept the return of deportees who had arrived in the U.S. after July 12, 1995. The wording of the pact is significant:

“Vietnamese citizens are not subject to return to Vietnam under this Agreement if they arrived in the United States before July 12, 1995, the date on which diplomatic relations were re-established between the U.S. Government and the Vietnamese Government. The U.S. Government and the Vietnamese Government maintain their respective legal positions relative to Vietnamese citizens who departed Vietnam for the United States prior to that date.”

For a decade that has been interpreted as a flat protection for the refugees. But the Trump administration argues in court filings — immigrant rights organizations are suing to halt the detentions and deportations — that the second sentence in effect negates the first, so the U.S. can deport Vietnamese refugees if they have committed acts that render them ineligible to remain in the U.S.

“The agreement does not in fact prohibit such removals,” the government argued in court documents. “Rather, it provides merely that pre-1995 aliens cannot be removed under the terms of the agreement itself.”

That’s a specious argument. Until the agreement, Vietnam would not accept any deportees from the U.S.; after the agreement, it began accepting what are called post-1995 deportees. So the only mechanism for returning people to Vietnam falls under the agreement, regardless of U.S. laws. The Trump administration is simply trying to break the terms of the deal — and so far has been successful in at least 11 cases, though it’s unclear why Vietnam agreed to let the deportees in. According to reports, the deportees have had trouble finding places to live and getting permission to work in Vietnam.

News accounts of the efforts have focused on refugees who arrived here as young (usually) men with limited social or family structure. A number of them fell in with gangs or individually committed crimes of varying seriousness, from drug possession to robbery and a few rare murders. Yet the issue here isn’t the crimes some refugees committed, but the circumstances of their arrival in the U.S., and the letter of the agreement with Vietnam.

This is yet another instance in which the Trump administration has just bulled its way forward to try to reduce the number of immigrants living in the U.S. If the government believes that it is in the nation’s best interest to deport Vietnamese refugees convicted of crimes, then it should reopen the 2008 agreement and create a lawful mechanism to do so.

Source: Latimes

Few bank stock options for foreigners

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Although Vietnamese bank stocks appear to have a bright future, foreign investors may find it difficult to join the parade due to a lack of progress on foreign ownership and corporate governance.

Hot stocks

The ups and downs of bank stocks tend to be closely monitored by investors and analysts in Vietnam, as these stocks take up 22 per cent of Vietnam’s listed equity market. Throughout the past quarter, bank stocks have been in a slump due to the corrective streak in the VN-Index.

Recently, however, with the bearish trend easing and the market bouncing back by 10 per cent from its July low, analysts and investors have regained their faith in the so-called “Vietnamese king stocks.”

For example, independent rating firm Moody’s upgraded its ratings for 14 Vietnamese commercial banks on August 14. The Moody’s upgrade is based on the assumption that the Vietnamese government will continue its support for banks’ asset quality and capitalisation. Indeed, as part of Decision No.986/QD-TTg released on August 11, the Vietnamese government has outlined its growth strategy for Vietnamese banks from now until 2025. This includes raising capital for three state-owned lenders and the possibility of listing them overseas.

“Such a path is, on the face of it, positive, as outside investors will be less of a minority and therefore able to exert more influence on the direction of the banks. Also, capital raising will be easier to conduct if there is a large body of outside investors,” said Long Ngo, associate director of financial institutions at Viet Capital Securities’ research team.

Meanwhile, Nguyen Thanh Lam, investment manager at Maybank Kim Eng Securities, expects net profits of listed banks to expand by 20 per cent in 2018, while returns on equity (ROE) will grow by 14 per cent. “The infrastructure is going through strong developments and consumer finance is forecast to boom from 2018 onwards. Many banks have made significant progress in solving sour loans,” said Lam.

Who can buy the shares?

The appeal of Vietnam’s bank stocks is thus very clear to both domestic and foreign investors. At first glance, it seems that foreign investors are at an advantage because they can provide domestic lenders with capital or know-how. However, there are significant challenges for foreign investors.

Firstly, the existing foreign ownership limit (FOL) at commercial banks in Vietnam is only 30 per cent, and the law stipulates that any one foreign entity can only own up to 15 per cent. One prominent example is Asia Commercial Bank (ACB), which is poised for 70 per cent net profit growth in 2018. ACB has reached the 30-per-cent FOL, which means overseas buyers can only gain a stake in this fast-growing bank if another foreign investor agrees to sell.

Similarly, last October, 3.4 million additional shares of Military Bank were made available to foreign investors, as the bank issued new shares from its employee stock ownership plan. Within 15 minutes of trading, all of those shares were devoured by foreigners and the bank quickly reached its FOL again.

Likewise, scores of investment funds and banks from around the world have joined in the initial share sales of VPBank, Techcombank, and HDBank. However, each investor bought less than 5 per cent due to the ownership cap.

“The current ownership limit at 30 per cent is quite low for investors, as they want a bigger say at the banks. This is especially true for strategic shareholders, so I would suggest relaxing this cap gradually to 49 and 51 per cent,” said economist Nguyen Tri Hieu.

Hieu added that thanks to their larger wallets, foreign investors are more likely to purchase Vietnamese bank stocks in bulk than domestic investors. “Foreigners are the ones who can easily invest $50 million or more in a Vietnamese lender,” he said.

Moreover, foreign strategic investors can offer valuable lessons on corporate governance and banking know-how to Vietnamese lenders – something domestic investors do not have. That said, Duong Nguyen, financial services and IT advisory leader at EY Vietnam, noted that foreign banks are reluctant to invest in Vietnamese banks due to the lack of Basel II standards. Specifically, she said that Vietnamese banks scored the lowest in the ASEAN Corporate Governance Scorecard. Vietnamese lenders are lagging behind their peers from Thailand, the Philippines, and Malaysia, who have already fulfilled Basel II.

As a result of these factors, experts believe that although the stocks of Vietnamese banks do have an upbeat future ahead, foreign investors will only come in droves if there is a systemic improvement in terms of FOL, corporate governance, and Basel II application.

How Locals are Tackling Vietnam’s Air Pollution Problem

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Recent data points to an alarming problem brewing in Vietnam. Air pollution is worsening, specifically in metropolitan areas such as Hanoi and Ho Chi Minh City. Worrying levels of harmful fumes and dangerous particles have locals and government officials scrambling to find a solution while keeping up with an increasing urban population.

High levels of PM 2.5

Vietnam ranks among the 10 countries with the world’s worst air pollution. Figures indicate the main factors contributing to the severity of the problem are traffic emissions, industrial production, and construction. Vietnam relies heavily on coal to generate much of the country’s power and an additional 26 coal power plants are planned to be constructed after 2020. These factors are causing Hanoi and Ho Chi Minh City to be cloaked by a dangerously thick cloud of smog, choking locals and posing serious health risks.

Gridlocked traffic during rush hour in Vietnam | ©M M/ Flickr

Exposure to chronic air pollution can first cause irritation to the eyes and throat before leading to more serious illnesses such as asthma, cancer, and chronic lung diseases. The World Health Organization (WHO) reportedly states that 6/10 diseases with high morality rates in Vietnam are related to air pollution. Dangerous levels of fine particulate matter measuring 2.5 micrometers in diameter (PM 2.5) are found to be five times the acceptable level in Hanoi and twice the recommended level in Ho Chi Minh City. These tiny particles can burrow deep into the lungs and cause a range of severe health problems.

Desperately needed solutions

In an effort to stray from power generated by environmentally harmful coal, locals have been investing in rooftop solar panels in increasing numbers. Solar energy saves 50% or more on electricity costs and there is often a surplus of energy, in which case homeowners can earn credit on electricity bills. It is an effective solution and the installation costs are reasonable compared with the long-term environmental and financial benefits of abandoning coal-generated power. The government is also accelerating the development of solar power plants to meet increasing domestic demand for power; solar power currently accounts for 0.01% of total power generated in Vietnam, but the government plans to increase it to 20% by 2050.

Industrial air pollution | ©Foto-Rabe/Pixabay

However, the bulk of the issue remains with the millions of cars and motorbikes crowding the narrow streets of Hanoi and Ho Chi Minh City. Traffic emissions in Vietnam account for up to 85% of total carbon monoxide emissions. Subway construction is well underway in both cities as the government struggles to meet the demand for public transportation. Old buses spurt black smoke as they careen through the streets, prompting officials to call for replacing them with new ones that use cleaner fuel. There has also been a push to enforce emission standards among cars and motorbikes; however, certification for emission standards is expensive and this has led to fake certifications and bribes given in exchange for an emissions certificate.

Solar power is becoming popular among homeowners in Vietnam | ©schropferoval/Pixabay

In 2017, the majority of Hanoi People’s Council voted to implement a motorcycle ban by 2030. Motorbikes will be banned in downtown areas and limited in districts with sufficient public transport.

An uncertain future

As higher populations flock to urban centers, cities struggle to meet the demand for safe and effective public transportation while air quality deteriorates. The first subway line in Hanoi is expected to open later this year while the first Ho Chi Minh City line won’t open until 2020; it will be decades before public transport can successfully alleviate congestion and mitigate emissions.

Vietnamese cities could experience Beijing-level smog in the not-so-distant future | ©LWYang/Flickr

The emerging demand for solar power will hopefully prompt nationwide interest in renewable energy sources, but unless the proposed coal plants are cut and public transport removes a high number of motorbikes and cars off the streets, Vietnam’s air pollution problem will continue to get worse.

By Katie Kalmusky, The Culture Trip

 

 

Powerful M6.7 earthquake rocks Hokkaido, at least nine dead and 31 reported missing

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According to Japantimes’ report, at least nine people are dead and 31 unaccounted for in Hokkaido after a magnitude 6.7 earthquake — reaching the maximum 7 on Japan’s seismic intensity scale in some areas — caused landslides that engulfed houses early on Thursday.

The quake centered east of the city of Tomakomai was felt strongly in Hokkaido’s capital of Sapporo, roughly 68 kilometers away. There was no tsunami risk.

A landslide along a long ridge in the rural town of Atsuma could be seen in aerial footage from NHK. The 3:08 a.m. quake also cut the power supply to nearly 3 million homes in the prefecture while grounding flights and disrupting train services.

Prime Minister Shinzo Abe put the death toll at nine while the Hokkaido Prefectural Government said about 300 people were injured in Sapporo and other cities.

The government said later in the day that about 340,000 homes had regained electricity.

The quake occurred at a depth of about 40 km and logged a 7 on the seismic intensity scale in Atsuma and a lower 6 in the city of Chitose, both southeast of Sapporo. The quake was initially reported to have registered a maximum intensity of upper 6.

A series of smaller shocks followed the initial quake, the agency said. At an early morning news conference, agency official Toshiyuki Matsumori warned residents to take precautions for potential major aftershocks in the coming days.

Prime Minister Shinzo Abe, arriving at his office before 6 a.m., told reporters his government had set up a command center to coordinate relief and rescue. His voice sounding haggard, Abe said saving lives was his government’s priority.

The Tomari Nuclear Power Station suffered a power outage but was cooling its fuel rods safely with emergency power, Chief Cabinet Secretary Yoshihide Suga said. External power at the station resumed by 1 p.m. Operator Hokkaido Electric Power Co. reported no radiation irregularities at the plant, which has been offline since shortly after the 2011 Great East Japan Earthquake, Suga told a news conference.

The power outage occurred when thermal power plants in the prefecture shut down automatically after the quake. The blackout also affected around 40 hospitals as well as telephone services and television broadcasting in the prefecture.

A fire broke out at a Mitsubishi Steel Mfg. Co. plant in the city of Nemuro but was later brought mostly under control, NHK said, quoting local officials.

There was also a fire at an oil refinery facility in Muroran, but it had almost been subdued by the afternoon.

New Chitose Airport was closed for the day after part of its terminal ceiling collapsed, as well as due to the power outage, the transport ministry said, affecting flights to and from Tokyo and other cities at the country’s fifth-busiest airport.

Bullet train and local train services were also disrupted by the quake, operators said.

In Tokyo, the central government said the Self-Defense Forces will dispatch 25,000 personnel for relief operations at the request of the governor of Hokkaido.

NHK footage showed a crumbled brick wall and broken glass at a home, and quoted local police as saying some people were trapped in collapsed structures.

Rescuers were shown surveying damage on a rural road that was blocked by fallen trees.

The footage showed the moment the quake struck Muroran, with its camera violently shaking and all city lights going out a moment later. In nearby Sapporo, a mudslide hit a road, leaving several cars half buried.

Some experts said the earthquake was likely caused by a series of slips on an inland active fault.

An active fault zone of more than 100 km in length runs north-south about 10 kilometers west of the epicenter. Although the Meteorological Agency says it is unclear whether the zone had something to do with the quake, the experts believe its displacement could be the cause.

Takashi Furumura, a professor of seismology at the University of Tokyo, said it is highly likely that the quake occurred in the southern part of the fault zone.

Furumura, who examined observed records of seismic waves, found that there were about three powerful shaking movements in a short period of time.

“Consecutive fault slips may have caused a strong shaking for a long time and triggered mudslides,” he said.

“The fault zone is massive and its structure is complicated,” said Yasuhiro Suzuki, a professor of geomorphology at Nagoya University.

But he noted there is not enough data on the southern part of the zone to tell if it has caused large-scale quakes in the past.

Collecting data on the southern part, which is more than 54 km in length, is difficult as it extends into the sea and partly runs under the seafloor, according to Suzuki.

Japan, situated on the “Ring of Fire” arc of volcanoes and oceanic trenches that partly encircles the Pacific Basin, accounts for about 20 percent of the world’s earthquakes of magnitude 6 or greater.

Will VND lose 3 percent of its value in 2018?

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The depreciation of the Chinese yuan against the dollar has raised concerns that Vietnam’s goods will become less competitive in comparison with Chinese goods if Vietnam does not devalue its currency.

Yuan depreciates 

According to Vietnamnet, since mid-April, the yuan has depreciated sharply as a result of the withdrawal of foreign capital from emerging markets and the escalation of the US-China trade war.

China has become a net outward investor over the last four years. The sharp depreciation of the yuan will not bring benefits to China’s outward investments.

Meanwhile, since late 2016, the yuan has been added to the basket of currencies to estimate SDR, an international reserve asset created by the IMF. The Chinese government will consider thoroughly when intervening the exchange rate.

China’s foreign debts have been increasing steadily since 2015. Its foreign debts reached $1.214 trillion, or 13 percent of China’s GDP by the end of the first quarter. Though this is not a very high figure, the sharp depreciation of the yuan will affect China’s debt payment capability.

BVSC believes that the possibility of the Chinese government devaluing the yuan sharply is not high. Nevertheless, it says that investors’ excessive worries and market factors may still depreciate yuan further.

In order to neutralize the risks from bearing higher taxes on exports to the US and ensure the competitiveness of Chinese goods in the world market, the yuan needs to depreciate by 2.7 percent. As such, the 8 percent depreciation since April is too much.

In order to neutralize the risks from bearing higher taxes on exports to the US and ensure the competitiveness of Chinese goods in the world market, the yuan needs to depreciate by 2.7 percent. As such, the 8 percent depreciation since April is too much.

BVSC: Vietnam dong to depreciate by 3 percent

After selling dollars to stabilize the market on July 3, SBV on July 22 raised the dollar selling price by VND223, or 0.9 percent.

“This is a sign showing that SBV decided to stop the stabilization of the market by selling dollars at low prices. With the move, the exchange rate truly reflects the real situation of the market,” BVSC commented.

BVSC believes that for foreign invested enterprises, the appreciation or depreciation of the dollar will not be a big problem for them. The dong appreciation will mostly affect the domestic economic sector, especially the exports of farm, forestry and seafood produce.

The yuan 8 percent depreciation against the dollar has caused the Vietnam dong to appreciate by 5 percent against the yuan. This has weakened Vietnam’s farm, forestry and seafood exports to the Chinese market.

The sharp depreciation of the dong will cause high inflation and reduce confidence in the dong. However, if the yuan continues depreciating against the dollar, Vietnam will need to act flexibly in adjusting the forex.

“We think that the Vietnam dong will lose 3 percent of its value in the year 2018,” BVSC said.

Vietnam to earn more from cashew nuts export in 8 months

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Vietnam gained nearly 2.3 billion U.S. dollars from exporting 243,000 tons of cashew nuts in the first eight months of 2018, up 2.5 percent in value and 8 percent in volume on-year, the Ministry of Agriculture and Rural Development said on Thursday.

According to the report, in the same period, Vietnam shipped abroad over 1.3 million tons of coffee worth nearly 2.5 billion U.S. dollars, up 14.8 percent in volume but down 3.1 percent in value.

Meanwhile, the country sold overseas 80,000 tons of tea worth 131 million U.S. dollars, witnessing respective year-on-year drops of 11.3 percent and 8.6 percent. It also earned 585 million U.S. dollars from selling offshore 175,000 tons of pepper, up 4 percent in volume but down 35.2 percent in value.

Vietnam earned over 3.5 billion U.S. dollars from exporting 352,205 tons of cashew nuts, mainly to the United States, the Netherlands and China, in 2017, while importing 1.1 million tons of raw cashew from Africa, said the ministry.

How Mercedes deal with scandal of water ingression into GLC’s front differential?

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During August 2018, Vietnam Insider found at least ten separate reports of water ingression into the front differential of the GLC while driving through water.

A member of otofun.net – the Vietnamese largest car’s owners forum posted “The authorized dealer said, I have water in my front diff. I drove through mud and some water holes. Nothing over half way up my tire”. He said, the authorized dealer of Mercedes-Benz Vietnam said, it’s a product’s warranty void and refuses to recall or fix it. The car owner have to pay VND170,000,000 (US$ 7,400) for spare parts of differential.

While researching car recall campaigns here, we could not find any related issue with GLC models world-wide, but 8 other recalls for GLC regarding to

  1. The driver airbag may be defective
  2. The steering column is not sufficiently earthed
  3. The starter current limiter may be overloaded and overheat
  4. The propellant mixing ratio in certain seat-belt pre-tensioner igniters may be incorrect
  5. The electronic parking brake might not function.
  6. Fuel may leak from the fuel pump
  7. The on-board high-voltage battery charger may malfunction
  8. Wiring in the vicinity of the steering column could be damaged which might cause failure of indicators, gear selection, electronic stability control and electric power steering.

 

According to a message sent to GLC owners on its website, Mercedes-Benz Vietnam said:

“We acknowledged customer concerns about the possibility of water ingression into the front differential of the GLC while driving through deep water. We fully understand the situation and please rest assure that Mercedes-Benz Vietnam is taking this feedback very serious and we are aiming to find a solution for our customers, albeit the root cause is not connected to product or product design issue but rather to improper vehicle handling.

By this chance and as a first step, we kindly like invite you as owner of the Mercedes-Benz GLC to visit the nearest authorised Mercedes-Benz workshop to perform technical check for the differential lubricant to assess any possible existing water ingression and where requried performing lubricant replacment by our well-trained technicians to minimize subsequent repair costs. For this, we are happy to offer free differential lubricant check from today until end of August 2018. Kindly be informed that replacing non-approved differential lubricant may cause damages to the differential.

Furthermore, as a preventive measure to minimize furture damages, our authorized dealers are working on a recommended retrofit solution for your GLC vehicle by using Mercedes-Benz Genuine spare parts and at a very affordable price. For further details and information we kindly ask you to contact your preffered authorized Mercedes-Benz Service Center who is happy to assist you further.

And once again we would like to remind you the maximum still water depth for the GLC is 30 cm (please refer to the GLC User manual, page 367). Even the heights of the air breathe valve of the GLC front and rear differentials are higherly positioned respectively, it is recommended to follow strictly the maximum water depth guideline as stated in the User manual to avoid water leaking into not only the differential and but also other equipment, as well as to avoid hydrolic lock.”

More about differentials

How Differentials Work?

If you’ve read How Car Engines Work, you understand how a car’s power is generated; and if you’ve read How Manual Transmissions Work, you understand where the power goes next. This article will explain differentials — where the power, in most cars, makes its last stop before spinning the wheels.

The differential has three jobs:

  • To aim the engine power at the wheels
  • To act as the final gear reduction in the vehicle, slowing the rotational speed of the transmission one final time before it hits the wheels
  • To transmit the power to the wheels while allowing them to rotate at different speeds (This is the one that earned the differential its name.)

Why You Need a Differential

Car wheels spin at different speeds, especially when turning. You can see from the animation that each wheel travels a different distance through the turn, and that the inside wheels travel a shorter distance than the outside wheels. Since speed is equal to the distance traveled divided by the time it takes to go that distance, the wheels that travel a shorter distance travel at a lower speed. Also note that the front wheels travel a different distance than the rear wheels.

Watch this video for a brilliant explanation of how a car’s differential works

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