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.

Young people lead less active lives

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Many young people and white-collar workers in major cities, including Ha Noi, HCM City and Can Tho, are physically inactive.

Walk through Hà Nội and you will see young people lounging at coffee and beer vendors while their elders exercise in parks and fitness centres.

A 28-year-old man who works for a petrol station in Cần Thơ in the Mekong Delta told Tuổi trẻ (Youth) newspaper he often goes to a local sidewalk beer shop with his friends after working hours.

Nguyễn Ngọc Hà, 27, a bank employee in Hà Nội’s Hoàn Kiếm District, said her working hours fill most of her time. She often begins at eight in the morning and does not leave work until six in the evening.

“I just want to sleep in on the weekend or go to a coffee shop or the cinema,” she said.

When asked about why she did not go join a fitness club for the weekends, she said she might start going later in life but did not yet feel the need.

She would consider going to a yoga and fitness club if she had enough time, she added.

A lot of children in cities are also inactive.

Statistics from the National Institute of Nutrition show the rate of overweight children has risen to over 50 per cent in HCM City and over 41 per cent in Hà Nội, up from just 12 per cent in both cities in 1996.

Đỗ Thị Ngọc Diệp, former director of HCM City’s Nutrition Centre, said unhealthy food choices should also take some blame.

Children who attend schools on grounds too small for a playground face a higher risk of obesity than their peers in larger schools, she said.

Former deputy director of the National Institute of Nutrition Lê Bạch Mai said children often spend most of their free time online, engaging each other through social networks. This has exacerbated the situation.

Chronic disease

Phan Nam Hùng, deputy head of the Cardiology Department at Bình Định Province General Hospital, said “inactivity will lead to a lot of preventable disease.”

Widening waistlines are common among white-collar workers due to their sedentary lifestyle. Hùng noted excessive belly fat is linked with a higher risk of metabolism disorders, blood glucose disorders, heart-related diseases and hypertension.

The rate of young people above 18 years old who suffer from hypertension raised from 11.2 per cent in 1981 to nearly 40 per cent today, he said.

Thái Hồng Quang, president of the Việt Nam Association of Diabetes and Endocrinology, said the diabetes rate among young people over the age of 15 has also risen. While only 1.1 per cent of young people in Hà Nội had diabetes in 1991, the national rate is now up to 5.5 per cent.

This too can be blamed in part on inactive lifestyles.

According to Quang, a 2016 survey said a third of the Vietnamese population does not exercise enough to meet the WHO (World Health Organisation) recommendation of 30 active minutes at least five days a week.

1.4b people inactive

All around the world, a large number of people lead inactive lives.

New data published in The Lancet Global Health Journal show more than one in four adults globally (28 per cent or 1.4 billion people) are inactive. In some countries, up to one in three adults are active.

The paper, authored by four WHO experts, updates 2008 estimates of global activity levels, concluding that the overall rate of inactivity among adults is largely unchanged since 2001.

Women were less active than men, with an over eight per cent difference globally. High income countries are more inactive (37 per cent) compared with middle income (26 per cent) and low income countries (16 per cent).

The report shows the need for all countries to take proactive steps to support daily physical activity for people of all ages and abilities.

Source: VNS

 

NA approves USD300m upgrade plan for railway sector

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Vu Anh Minh, chairman of Vietnam Railways spoke about how to use the VND7trn (USD300m) in funding which they have been allocated by the National Assembly.

The Standing Committee of the National Assembly has approved to allocate VND7trn (USD300m) from government bonds to upgrade the railway sector. This is also part of the VND15trn investment plan for 2016-2020 period submitted for approval since early 2017.

Vu Anh Minh, chairman of Vietnam Railways, said the fund would be used to upgrade the trains’ payload from 3.6 to 4.2 tonnes and improve the speed so that more trains would be able to run per day. Average train speeds are expected to reach 80-90km/h while freight trains would be able to travel at 50-60km/h.

They will also upgrade 11 weak bridges and 11 tunnels, remove 800 illegal level crossings and set up 33km of barriers. “VND7trn will be used to fund several projects. VND1.4trn (USD59.81m) is to upgrade Hanoi-Vinh railway, VND1.8trn for Vinh-Nha Trang railway and VND1.9trn for Nha Trang-HCM City section,” Minh said.

The Hanoi-Vinh project has been given to the Management Board of Railway Projects 2. The other two projects have been given to the Vietnam Railways. They are completing the procedures and hope to start the projects in mid-2019.

According to the strategic plan approved by the Ministry of Transport, the railway sector will need VND110trn (USD4.7bn) for upgrade the existing infrastructure by 2030. VND48trn will be allocated to 2016-2020 period and VND62trn for 2020-2030 period.

Source: Dtrinews

 

Bank robbers arrested in Khanh Hoa

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Police in Khanh Hoa Province arrested two suspects in a bank robbery on September 6, Dtinews reported

Colonel Dang Duc Luan, head of the police department in Ninh Hoa Commune said they had arrested two men, 36-year-old Tran Hoang Nhat Hung and 30-year-old Dam Minh Quang who robbed a Vietcombank branch in Ninh Hoa Commune on September 5 with a gun.

At 10 am on September 5, the masked men arrived at the Vietcombank branch office by motorbike. One man stayed outside while the other brought the gun and bags inside. The man threatened the bank employees and after taking the money, they fled the scene but left the gun behind.

The police quickly arrested the men, seized four guns, dozens of bullets and about VND3bn (USD128,700) buried under an abandoned house. The police in Ninh Hoa Commune and the criminal police department in Khanh Hoa were awarded VND10m each for the speed case.

Hung and Quang admitted that they had robbed the bank and took away VND4.5bn (USD193,000) of cash. Since they used the masks, they thought that no one could discover their identities and kept on living as usual

Crescent Mall site of third H&M Vietnam store

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HCMC shopping mall to see opening of third H&M Vietnam store on September 8.

Crescent Mall in Ho Chi Minh City will official welcome Vietnam’s third H&M Vietnam store on September 8.

After entering the country in 2017, H&M Vietnam has opened stores in both Hanoi and Ho Chi Minh City, achieving record-breaking sales with each successive opening.

Crescent Mall offers approximately 45,000 sq m of retail space and delivers an international-standard shopping complex amid the tranquility of a lakeside environment.

The fourth quarter of 2019 will see the opening of a further 11,200 sq m of retail space in a new phase as well as a 25-story office tower. This will provide Crescent Mall with further momentum as one of Vietnam’s leading shopping malls.

With professional asset management from Savills Vietnam, Crescent Mall provides international-standard facilities for numerous high-profile tenants and was selected by Savills Vietnam as the new location for the latest H&M store in Ho Chi Minh City.

Ms. Tu Thi Hong An, Associate Director of Commercial Leasing at Savills HCMC, said that having been active in the city’s retail property market for over 20 years, Savills was very pleased to provide advice on the transaction. “Crescent Mall is fortunate to be in an area where expansion is still possible,” she said. “Compared to other areas in the city, District 7 has been planned and zoned well by developers Phu My Hung. We hope H&M will be very happy in this new location.”

According to Ms. Joanne S. Gasgonia, General Manager of Crescent Mall, it has been successful in understanding shoppers. “We have gone beyond the usual demographic targeting and not only tried to understand and predict what the market thinks but most importantly what the market feels,” she said. “It is all about brand trust, brand love, and brand affinity.”

A report from Savills noted that, retail turnover in Vietnam last year was $129 billion, increasing 11 per cent year-on-year to a level quite high in the ASEAN region.

Its retail market has enormous potential. In 2018-2021 it is expected to grow steadily with rising demand for leisure (10 per cent per year), modern groceries (9 per cent per year), and apparel (6 per cent per year). Revenue from fashion, personal services, F&B, and entertainment such as gyms, fitness centers and cinemas will all rapidly increase over the years to come.

Ngoc Lan report on Vneconomictimes

Vietnam officials offer financial support for country’s innovative startups

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The announcement is issued according to a directive from National Technology Innovation Foundation (NATIF) by Vietnam’s Prime Minister

Vietnam’s most innovative startups will be in a mix for getting financial support from the country, as reported by Vietnam News yesterday. The National Technology Innovation Foundation (NATIF) fund will provide the financial support by the end of the year. The e27.co reports.

Prime Minister Nguyễn Xuân Phúc reportedly reached out to the Ministry of Science and Technology (MoST) to include selected startups as the yearly fund recipients. Furthermore, MoST is to recommend policies to foster an innovative startup environment and organise annual meetings with investors and startup enterprises at home and abroad.

With the official fund, startups in Vietnam now will have access to preferential loans and the ability to develop new ideas and business models. The eligible startups will be selected based on their compliance with the Law on Support for Small- and Medium-Sized Enterprises and other required criteria.

The country’s move aims to let the investment from domestic and abroad enter Vietnam’s startup ecosystem.

Besides summoning MoST, the country will work closely with three agencies — the Ministry of Planning and Investment, the Ministry of Education and Training and the Ministry of Labour, Invalid and Social Affairs — to help with simplification of administrative issues, fast-tracking registration process, overseeing the candidate’s active participation and contribution in the startups ecosystem as well as providing training courses in universities.

According to statistics compiled by MoST, the country has about 600,000 enterprises, including 3,000 innovative start-up enterprises and more than 40 venture capital funds.

By issuing this directive, there is high hope that the enterprises will contribute to the socio-economic development of the country.

The project itself has been approved since 2016 with Decision 844/QĐ-TTg/2016. The hope is to support the national innovation start-up ecosystem through 2025 and develop a legal system and a national e-portal for start-ups by 2020.

WEF on ASEAN 2018 through figures

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The World Economic Forum on ASEAN (WEF ASEAN) is one of the largest multilateral diplomatic events hosted by Vietnam this year, according to Deputy Foreign Minister Bui Thanh Son.

The WEF ASEAN, scheduled to take place in Hanoi from September 11 to 13, is expected to receive high-ranking government representatives, nearly 1,000 executives of regional- and world-leading corporations and hundreds of reporters from global and regional media outlets to cover the event.

Son, head of the organising board of the event, said that the WEF ASEAN is taking place as the construction of the ASEAN Community has been accelerated, with the world witnessing rapid and complicated developments, along with the fourth industrial revolution impacting the global economy.

He said the theme of the forum “ASEAN 4.0: Entrepreneurship in the fourth industrial revolution” proposed by Vietnam, has gained support of political and business circles and partners, especially ASEAN members, as it is relevant to the ASEAN theme of “resilient and innovative ASEAN”.

It also shows the solidarity, dynamism and self-reliance of ASEAN countries in taking advantage of and overcoming challenges from Industry 4.0.

The participation of leaders from various countries and major international organisations, along with the WEF founder and executive chairman, affirms Vietnam’s increasing position in ASEAN and the world, especially after the country’s successful organisation of the APEC in 2017.

The WEF ASEAN will deepen relations between Vietnam and other countries in the region, Son added. A number of meetings and official visits of foreign leaders to Vietnam will be made during the event to bolster bilateral ties and collaboration.

With the participation of nearly 1,000 international business executives, the WEF ASEAN also offers chances to introduce Vietnam to the world, along with the policies of the Vietnamese Party and State in economic reform, improvement of business climate and start-up development, among others.

In addition, the forum will facilitate access to new ideas and to development trends, particularly of Industry 4.0, serving the country’s building and implementation of policies, strategies and plans on socio-economic development and domestic businesses’ operation.

The WEF ASEAN is also a festival of ASEAN countries. The organising board has dedicated a space for ASEAN countries to promote themselves, which is a new point in WEF events so far.

The WEF was established in 1971 as a non-profit foundation and is headquartered in Geneva, Switzerland. The forum engages political, business and other leaders to shape global, regional and industry agendas.

Founded in 1967, ASEAN groups together Brunei, Cambodia, Indonesia, Laos, Malaysia, Myanmar, the Philippines, Singapore, Thailand and Vietnam.

Source: Vietnamnet

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

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