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5 things car salesmen don’t want you to know

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5 Ways To Get The Lowest Price On Your Next Car Purchase in Vietnam

We have all been there. You want to buy your first car, or second or third. You have no idea what to do. Maybe you got a really bad deal last time and you are scared. Do you just go to the car dealership and ask for what you want? Do you lease or purchase a car? What does APR mean? Residual value? Do you go through a broker who may or may not have your best interests in mind? There are several ways to go about car shopping, but once you are in the negotiation room with the sales person there are only 5 easy tactics that will ensure you get the best price. If you’re in the market for a new car, or just wondering what these tactics are, check them out on the next page.

According to a report on Women Article, these 5 Car Negotiation Tactics Will Make Sure You Get The Lowest Price When You Go Car Shopping!

5. Always Low Ball Your Lowest Price

When you first start talking numbers with a car salesman the first thing they will ask you is. “What’s your budget”, or “How much are you willing to pay per month?”. This is an easy way for the sales person to put the ball in your court and make you tell them a price that they can easily make money off of.

One of the best tactics here is to be vague and tell them something like:

“I’m looking for the lowest price you can give me.”
“What’s the best sale you have going for this car right now?”
“Show me your prices first, and i’ll let you know if it fits my budget.”
If you must say a dollar amount, and the sales person is pushing you. Find an ad in the paper and tell them a number that’s 10% to 20% below that.

4. Don’t Fall For The Extra Features or Options

The extra features in cars these days are where the dealership and car companies make most of their money. Most options like Bluetooth and Sunroofs may come standard in some models. But the extra’s like “cooled seats”, or “heated steering wheel” are usually very expensive and rarely used. Make sure that when you are dealing with salespeople they don’t “trick” you into getting a car with options you don’t need. Many car dealerships and car manufacturers give big big discounts on cars with less options because they are seen as less desirable. Go for these cars if you are looking for the lowest possible price.

3. Never Get Additional Warranty or Wear and Tear Programs

This is by far one of the highest profit margin items a car dealership can sell you. They make so much money on maintenance packages, wear and tear programs, and additional warranties past the manufacturer warranty. Most cars come with decent standard warranty programs. And the chances of you using additional warranty programs is slim to none. Most times the dealership charges $2000 to $5000 extra for these packaged items which they will discount even further to entice you to bite. Don’t fall for discounts on these add-ons they don’t cost the dealership anything and are usually pure profit out of your own pocket.

2. Skip The Sales Person And Talk To The Manager

The sales person in a car dealership is usually a middle man going back and forth between the customer and the dealer floor manager. When you can, ask to speak to the manager directly. Tell him/her something like “I’m here to buy or lease a car today, let’s deal directly with the manager”. Take our your checkbook, or credit card and place it on the table. Remember, the salesperson is working for you, to get you to walk out of the building with a new car. Going straight to the source and talking directly to the manager in charge of the discounts and deals cuts out valuable time wasted and gives you a more powerful contact if you decide you’d like to purchase another car in the future.

1. Do Your Research Before You Go To The Car Dealership

Imagine this. You did full research on the car you want to buy before you walk into the dealership. You know every option, every price, every color, the gas mileage, the engine specifications, even the dimension of the interior cabin. Now imagine you knew more than the car salesperson knew. Many car salesmen are new, or work on volume, they don’t have time to know every specific aspect of every car they sell. You gain instant credibility and the upper hand in a negotiation when you “Know what you are talking about”. Confidence in a negotiation situation is key, now imagine the kind of deal you will get when you feel like you know more than the person selling you the car! Keep your chin up, ask for a cup of complimentary coffee, get comfortable, put your feet up on the desk if you can, and watch as you get the car of your dreams for the lowest price.

Vietnam solar power project acquired by BGRIM for $35.2m

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B Grimm Power Plc has completed a US$35.2 million acquisition of a solar photovoltaic power projects in Vietnam.

BGRIM, through subsidiary B Grimm Renewable Power 2 Ltd, has acquired an 80 per cent stake in Phu Yen TTP Joint Stock Company, the project company investing and developing in a 257MW PV scheme in Phu Yen province on the south central coast of Vietnam. The Nation reports.

The purchase of 80 million shares in the Phu Yen TTP, concluded on Thursday, forms part of SET-listed BGRIM’s rapid expansion of power generation equity in Thailand and overseas.

Phu Yen will particularly contribute to BGRIM’s growing renewal power portfolio as well as strengthening its presence in Vietnam, according to BGRIM president Preeyanart Soontornwata.

According to Wikipedia, B.Grimm (Thai: บี.กริม) is a multinational conglomerate founded in 1878, based in Bangkok, Thailand. The large-scale conglomerate is active in healthcare, energy, building & industrial systems, real estate, e-commerce, and transport; with 22% annual growth in recent years.

The company is wholly owned and operated by the Link family. The chairman and CEO, Harald Link, is a noted polo player and philanthropist.

BGRIM has recently completed a deal for a 55 per cent stake in the 420MW solar powerhouse in Tay Ninh, southwest Vietnam, billed as the largest of its kind in Southeast Asia.

Tropical Storm Bebinca hits Vietnam, homes flooded, villages cut off

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Tropical Storm Bebinca has slammed into northern Vietnam bringing torrential rain to the region. 3 died, 3 other still missing.

The storm made landfall just over 100 kilometres to the south of the capital Hanoi, with winds gusting up to 130 kilometres an hour and relentless heavy downpours.

Nghe An province reported 280 millimetres of rain, according to the National Centre for Hydro-Meteorological Forecasting. This is nearly 90 percent of the amount that is expected in the entire month of August.

Homes were flooded and some villages become unreachable as rain rendered roads impassable, according to the state-owned Tien Phong newspaper.

It is still raining falling across much of the region, with the meteorological agency warning that “northern provinces need to closely monitor the rain and be vigilant to possible landslides and flash floods”.

Vietnam is no stranger to severe weather.

According to the Vietnam Disaster Management Authority, natural calamities, mostly floods and landslides, killed 88 people in Vietnam in the first seven months of this year,

The torrential rain in northern Vietnam is expected to ease on Saturday. However, the downpours will track west.

Bangladesh is bracing for severe weather on Sunday, which is likely to cause significant disruption.

Moody’s updates ratings of Vietnamese banks

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Moody’s Investors Service has upgraded the long-term local and foreign-currency deposit and issuer ratings of Vietcombank, BIDV, and VietinBank.

Moody’s also upgraded the long-term counterparty risk ratings (CRR) and counterparty risk assessments (CRAs) of VietinBank and BIDV and affirmed those of Vietcombank.

It also upgraded the long-term foreign-currency deposit ratings of ACB, Military Bank, and Techcombank. All other ratings of these three banks were affirmed.

At the same time, it upgraded the long-term local and foreign-currency bank deposit and issuer ratings of five banks: ABB, Lien Viet, TPBank, VIB, and VP Bank. All other ratings of these five banks were affirmed.

Moody’s has also upgraded the long-term CRR and CRA of SHB, HDBank, and OCB. All other ratings of these three banks were affirmed.

It has also changed the outlook for the local currency deposit and local and foreign-currency issuer ratings of eight banks – Vietcombank, BIDV, VietinBank, ABB, Lien Viet, TPBank, VIB and VP Bank – to stable from positive.

The rating actions follow Moody’s upgrade of Vietnam’s sovereign rating to Ba3 from B1 and change in outlook for the sovereign’s rating to stable from positive on August 10.

The credit ratings, assessments and outlooks assigned to the other two Moody’s-rated banks in Vietnam are unaffected by the upgrade and change in outlook of Vietnam’s sovereign rating. These two unaffected banks are the Saigon Thuong Tin Commercial Joint Stock Bank (Caa1 negative, caa2) and the Vietnam Maritime Commercial Joint Stock Bank (B3 stable, caa1).

Source: Dtinews

Viet Nam up nearly 900 points in FIFA rankings

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Việt Nam are Southeast Asia’s No 1 team, coming in at 102 on the FIFA World Rankings for August, Vietnamnews reported

According to FIFA’s new ranking formula, Việt Nam received 1,220 points, up nearly 900 points compared to the previous method, earning the country 17th place in Asia.

France climbed to the summit of the rankings with 1,726 points. They were followed by Belgium, Brazil, Croatia, Uruguay, and the UK. Russia made the most outstanding performance, jumping 21 places to the 49th.

The new formula, which was approved by the FIFA Council in June after a lengthy period of testing, relies on adding or subtracting points won or lost for a game to or from the previous point totals, rather than averaging game points over a given time period as in the previous version of the ranking.

The changes, of which there are several, include the fact that inactive teams now preserve their point totals, with no devaluation of older games. Points are dropped, however, from losing or drawing against weaker opposition, with the only exception to this rule being matches in knockout rounds of major competitions such as the FIFA World Cup, according to the football organisation.

Vietnam’s caged bears dying off as bile prices plummet

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Two moon bears are gently removed from the cramped cages where they have been held for 13 years, rescuers carefully checking their rotten teeth and matted paws before sending them to their new home in a grassy sanctuary in northern Vietnam.

According to a report on AFP, the animals are among the lucky few to be rescued in a country where hundreds of bears are feared to have been killed or starved to death as the cost of once-valuable farmed bile has plummeted.

Veterinary staff from Four Paws, an animal conservation group in Vietnam, check the condition of a sedated bear during a rescue operation. (Photo: AFP/Nhac Nguyen)

Bear bile is extracted — often continuously and painfully — from the animals’ gallbladders and used in traditional medicine in Vietnam, where the illegal practice remains widespread.

But consumers are shunning the farmed version in favour of bile taken from the nearly extinct wild bear population, which can cost 12 times more, and farmers can no longer earn what they used to from the illicit trade.

If consumer demand for wild bear gallbladders catches on, it could spell the end for wild bears, which are killed for the sought-after organ.

The trend is also bad news for caged bears, whose owners can no longer afford to keep them alive.

Bear bile is extracted — often continuously and painfully — from the animals’ gallbladders and used in traditional medicine in Vietnam, where the illegal practice remains widespread. (Photo: AFP/Nhac Nguyen)

“Farmers said it wasn’t profitable to keep the bears any more so they started feeding them less and let them die off,” Brian Crudge, research programme manager at Free The Bears, told AFP this week.

The number of captive bears has dropped dramatically since 2005 from about 4,500 to less than 800 today, according to official data and Crudge, who recently co-authored a study on the issue.

With about 200 bears in Vietnam’s rescue centres, he said many likely starved to death or were killed off and sold for their body parts.

Bear paws are popularly used as a delicacy in soup or liquor, while bones are used for cooking and teeth and claws for decoration or jewellery.

– Race against time –

Now it’s a race against time to rescue Vietnam’s remaining caged bears.

“It’s quite urgent, we want to get as many of them as we can before it’s too late,” Crudge said.

Some farmers — who can legally keep bears as pets but are not allowed to extract bile — have started handing over their bears voluntarily.

After being rescued, the bears spend a few weeks in quarantine before being allowed to frolic in the grass with their fellow rescuees — which can require courage after so many years in a cage @ AFP / Nhac NGUYEN

One farmer told AFP he used to earn $10 for one millilitre (0.03 fluid ounces) of farmed bile, but now only makes about $2, as some consumers prefer to shell out for a supposedly higher quality product from wild bears.

“People don’t seem to like the bile anymore so it’s harder to find customers,” said the farmer, speaking anonymously.

He used to keep about a dozen bears in cages at his home and now has none, but just smiled when asked when happened to them, refusing to elaborate.

Vietnam has come under fire for failing to crack down on the illegal trade, but in a landmark decision last year said it would abolish all bear farms by 2022.

It is likely to meet that goal, but not all will make it into sanctuaries with death rates likely to remain steady.

But a fortunate few will, like moon bears Hoa Lan and Hoa Tra who were sent to a rescue centre in Ninh Binh province this week.

After being rescued from the farm where they have lived since 2005, they will spend a few weeks in quarantine before being allowed to frolic in the grass with their fellow rescuees — which will require some courage after so many years in a cage.

“It’s pretty scary for them at first. It can take several weeks until they’re brave enough to go around the enclosure,” said Emily Lloyd, animal manager at Four Paws Vietnam, which runs the sanctuary.

US buyout firm PHI Group to set up Vietnam real estate investment fund

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US-based private equity investment firm PHI Group has entered into an agreement with Hanoi MHD Invest Joint Stock Company (MDH) to establish a real estate investment fund in Vietnam, according to the company’s announcement.

Under the agreement, the two sides will invest in a real estate sub-fund, under the master Reserved Alternative Investment Fund (RAIF) set up by PHI in accordance with the Luxembourg Institutional Bank Fund Laws. Quynh Nguyen reports on Deal Street Asia.

The size of the fund is not disclosed but it is expected that it will increase substantially over time to meet the growing needs of investment and development in the Vietnamese real estate market.

PHI will engage MHD for the execution of its building projects in Vietnam, including Asia Diamond Exchange in the Free-trade Section of the Chu Lai Open Economic Zone, Quang Nam Province, Vietnam.

In addition, MHD and PHI will cooperate to finance or invest in other third-party real estate and hospitality projects in Vietnam as opportunities arise.

PHI Group focuses mainly on acquisitions and buyouts in selected industries, investing in special situations and provides corporate and project finance services, including M&A advisory and consulting services for other companies.

MHD participates in construction, project management, real estate investment and development in Vietnam and is currently building two 40-storeyed towers in Hanoi.

Last year, PHI Group bought a minimum of 51 per cent interest in northern Vietnam-based agriculture company Hoang Minh Chau Hung Yen LLC (HMC) in a cash and stock transaction.

Low-carb diets could shorten life, study suggests

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A low-carb diet could shorten life expectancy by up to four years, a study suggests

Low-carb diets, such as Atkins, have become increasingly popular for weight loss and have shown promise for lowering the risk of some illnesses.

But a US study over 25 years indicates that a moderate cut in carb consumption – or switching meat for plant-based protein and fats – is healthier.

The study relied on people remembering the amount of carbohydrates they ate.

‘Gaining widespread popularity’

In the study, published in The Lancet Public Health, 15,400 people from the US filled out questionnaires on the food and drink they consumed, along with portion sizes.

From this, scientists estimated the proportion of calories they got from carbohydrates, fats, and protein.

After following the group for an average of 25 years, researchers found that those who got 50-55% of their energy from carbohydrates (the moderate carb group and in line with UK dietary guidelines) had a slightly lower risk of death compared with the low and high-carb groups.

Carbohydrates include vegetables, fruit and sugar but the main source of them is starchy foods, such as potatoes, bread, rice, pasta and cereals.

Researchers estimated that, from the age of 50, people in the moderate carb group were on average expected to live for another 33 years.

This was:
four years more than people who got 30% or less of their energy from carbs (extra-low-carb group)
2.3 years more than the 30%-40% (low-carb) group
1.1 years more than the 65% or more (high-carb) group
The findings were similar to previous studies the authors compared their work with, which included more than 400,000 people from more than 20 countries.

The scientists then compared low-carb diets rich in animal proteins and fats with those that contained lots of plant-based protein and fat.

They found that eating more beef, lamb, pork, chicken and cheese in place of carbs was linked with a slightly increased risk of death.

But replacing carbohydrates with more plant-based proteins and fats, such as legumes and nuts, was actually found to slightly reduce the risk of mortality.

Dr Sara Seidelmann, clinical and research fellow in cardiovascular medicine from Brigham and Women’s Hospital in Boston, who led the research, said: “Low-carb diets that replace carbohydrates with protein or fat are gaining widespread popularity as a health and weight-loss strategy.

“However, our data suggests that animal-based low carbohydrate diets, which are prevalent in North America and Europe, might be associated with shorter overall life span and should be discouraged.

“Instead, if one chooses to follow a low carbohydrate diet, then exchanging carbohydrates for more plant-based fats and proteins might actually promote healthy ageing in the long term.”

‘Not enough to focus on nutrients’

The authors speculate that Western-type diets that restrict carbohydrates often result in lower intake of vegetables, fruit, and grains and lead to greater consumption of animal proteins and fats, which have been linked to inflammation and ageing in the body.

Prof Nita Forouhi, from the MRC epidemiology unit at University of Cambridge, who was not involved in the study, said: “A really important message from this study is that it is not enough to focus on the nutrients, but whether they are derived from animal or plant sources.

“When carbohydrate intake is reduced in the diet, there are benefits when this is replaced with plant-origin fat and protein food sources, but not when replaced with animal-origin sources such as meats.”

However, there are limitations to the study.

The findings show observational associations rather than cause-and-effect and what people ate was based on self-reported data, which might not be accurate.

And the authors acknowledge that since diets were measured only at the start of the trial and six years later, dietary patterns could have changed over the subsequent 19 years.

Prof Tom Sanders, professor emeritus of nutrition and dietetics at King’s College London, also pointed out that the use of a food questionnaire in the study led to people underestimating the calories and fat they had eaten.

“One explanation for the finding in this and the other US studies is that it may reflect the higher risk of death in the overweight/obese, who may fall into two popular diet camps – those favouring a high-meat/low-carbohydrate diet and those favouring a low-fat/high-carbohydrate diet,” he added.

Source: BBC

How will Vietnam cope with the crisis caused by China-US trade war?

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As GDP relies on exports, in order to avoid the abrasive effects of the China-US trade war, it needs to improve competitiveness and find new markets.

A report released by NCIF (the National Centre for Socio-Economic Information and Forecast) at a recent conference said if the US imposes a tax rate of 25 percent on $34 billion worth of imports from China, Vietnam would see its GDP decrease by VND6 trillion a year in 2018-2022.

The Ministry of Planning and Investment (MPI) estimated that the trade war between the two largest economies would cause Vietnam’s GDP to fall by 0.03 percent in 2018. The decrease would be sharper to 0.09 percent in 2019 and reach 0.12 percent in 2020-2021 – Vietnamnet reported

The corresponding damages would be VND1.65 trillion in 2018, VND5.3 trillion in 2019, VND7.5 trillion in 2020, while the figures would be VND8 trillion in 2021 and VND7.8 trillion in 2022.

With the predicted decreases, Vietnam’s economic scale would be as follows: $235 billion by 2020, $250.2 billion by 2020, $284 billion by 2021 and $302 billion by 2022.

With the predicted decreases, Vietnam’s economic scale would be as follows: $235 billion by 2020, $250.2 billion by 2020, $284 billion by 2021 and $302 billion by 2022.

Some forecasts say the US may escalate commercial retaliation against China with many possible scenarios.

Luu Bich Ho, former director of the Development Strategy Institute, an arm of MPI, said the trade war would cause chain reactions which will affect trade, investment, monetary policies and other issues.

“Some experts think that the impacts on Vietnam would be minor, but I believe the impacts would be huge,” Ho said.

“There is no possibility of lending interest rate decreasing from now to the end of the year. And a lot of problems may arise in foreign investment and public investment disbursement,” Ho said.

Nguyen Tri Hieu, a renowned banking expert, also thinks the trade war would bring adverse effects rather than benefits.

Vietnam may become the punitive subject for the US if China tries to export products via Vietnam.

When the US blocks the way for China to bring goods to the US, China would try to bring goods to Vietnam for consumption instead, thus competing with domestic products.

Nguyen Duc Do from the Finance Academy commented that Vietnam has few options in dealing with the economic crisis caused by the US-China trade war. If it devalues the dong to boost exports, this will affect the macro economy.

If it intensifies public investment to deal with recession, this will lead to an increase in public debts. Meanwhile, it still has not succeeded in improving the competitiveness of domestically made products.

Vietnamese man dead at construction site in Guyana

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The local police say they are investigating the circumstances surrounding the death of a male Vietnamese whose lifeless body was discovered about 7 pm yesterday in the compound of a construction site where he was working and residing.

The site is located at Track ‘J’ D’Urban Backlands. A laceration was seen on the back of the head.

The body which is presently at the GPHC Mortuary awaiting a post-mortem tomorrow, has been identified as Nguyen Ngoc Anh, age 32 years.

Two persons are in custody assisting with the investigation.

Guyana located in the continent of South America, covers 196,849 square kilometers of land and 18,120 square kilometers of water, making it the 85th largest nation in the world with a total area of 214,969 square kilometers.

Guyana became an independent state in 1966, after gaining its sovereignty from Spain. The population of Guyana is 741,908 (2012) and the nation has a density of 4 people per square kilometer.

Guyana shares land borders with 3 countries: Suriname, Venezuela, Brazil.

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Public debt rises to $1,500 per Vietnamese citizen

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Vietnam’s per capita public debt is set to rise to $1,500 this year, a new government report says.

The country’s public debt will likely reach 63.92 percent of GDP, or VND3,530 trillion ($151 billion) by the end of this year, says a report submitted to the PM by the Ministry of Planning and Investment. Anh Minh reported on VNExpress.

The report, which focuses on managing and using official development assistance (ODA) in 2018-2020, notes that the parliament has set a debt ceiling of 65 percent of the GDP.

The country’s public debt consists of central government debt, provincial government debt and loans guaranteed by the government.

Central government debt, which accounts for a major part of public debt, is estimated to reach 52.5 percent of the GDP, or VND2,900 trillion ($125 billion), this year, the report says.

The debt forecast is based on the “most likely” scenario of 6.53-percent growth in GDP and inflation under four percent.

According to these figures, each Vietnamese is likely to carry a public debt burden of VND35 million ($1,500) this year. This is an increase of almost VND4 million ($150) from last year’s public debt per capita, which was VND31.3 million ($1,350).

The ministry also forecasts that public debt will slightly drop to 63.46 percent of the GDP next year and 62.58 percent GDP in 2020.

But in monetary terms, public debt will increase in the next two years, by VND360 trillion next year and VND380 trillion in 2019.

Vietnam’s public debt has been increasing in recent years, rising by 6.8 percentage points from 2013-2017.

The main reason for this is overspending, the Ministry of Finance said at a conference in May.

It added that if this trend persists, Vietnam will have to face the risk of low debt sustainability, meaning the country won’t be able to meet its debt obligations without requiring debt relief.

Dad of Kim Jong Nam murder suspect wants ‘kind’ daughter home

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Doan Van Thanh proudly displays diplomas and photos of his daughter at his home in rural Vietnam, hopeful she’ll be freed from a jail in Malaysia where she’s on trial for the murder of the North Korean leader’s half-brother.

He refuses to believe that “affable and kind” Doan Thi Huong could kill anyone, in line with defence arguments that she was tricked into the assassination along with her co-accused, Indonesian Siti Aisyah.

“She was cheated,” Thanh told AFP, his eyes bloodshot and his face weathered.

Huong and Siti have been behind bars since Kim Jong Nam was killed with the toxic VX nerve agent at a busy Kuala Lumpur airport in February 2017.

After months of hearings, a judge ruled Thursday (Aug 16) there is enough evidence for the trial to proceed, dashing hopes of an acquittal.

“I love my daughter and miss her, but there’s nothing I can do,” said Thanh, 64, who works as a cleaner and parking lot attendant at a nearby market.

Huong, a former hair salon worker, left home after high school and spent a few years studying pharmacology and accounting in Hanoi.

She then moved to Malaysia, where like many Vietnamese migrant workers she hoped for a better life than the one on offer in her poor rice-farming village.

Her flashy fashion, foreign boyfriends and edgy hairstyles quickly sparked chatter among neighbours back home.

That gossip exploded after she was linked to Kim’s murder, and videos quickly circulated of a woman who looks like her auditioning for the “Vietnam Idol” TV series.

Vietnamese national Doan Thi Huong (C) escorted by armed Malaysian police leaves after facing trial at the Shah Alam High Court, outside Kuala Lumpur on Aug 16, 2018 for her alleged role in the assassination of Kim Jong-Nam, the half-brother of North Korean leader Kim Jong-Un. (Photo credit: Manan VATSYAYANA / AFP)

Other unsubstantiated images showed the same young woman kissing a famous social media prankster on a popular YouTube channel.

Her apparent hunger for fame may have embroiled her in the shocking assassination that has grabbed global headlines.

Vietnam and UK strengthen collaboration for education

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The British Council in Vietnam signed a Memorandum of Educational Collaboration with the Hanoi Department of Education and Training (Hanoi DoET) with the witness of new Ambassador of the UK to Vietnam, Mr. Gareth Ward.

With over 20 years co-operation between the British Council and the Ministry of Education and Training in Vietnam, with the importance of education and training, aligning with the Strategic Partnership between the UK and Vietnam, the British Council in Vietnam and Hanoi DoET commit to further explore mutually beneficial educational partnership opportunities. Uyen Phuong report on SGGP.

In the three-year period (from September 1, 2018 to September 1, 2021), Hanoi DoET and British Council Vietnam have agreed and committed to implement the MOC in the following areas such as supporting the professional development of English language teachers in terms of both language proficiency and teaching skills and methodologies aligned with the National Foreign Languages strategy of the Government of Vietnam and the priorities of the Hanoi People’s Committee; supporting the improvement of teaching and learning in schools, targeting school leaders, teachers and students; enabling access for Vietnamese students and parents to information on the UK, UK education, UK and international exams, testing and accreditation; supporting the quality provision of English language testing and assessment for teachers and students, aiming to raise the level of English proficiency among teachers and students in Hanoi and raising awareness of educational opportunities for Vietnamese students in the UK and at the British Council.

In recent years, 12 universities in Hanoi have education exchange programs with UK institutions.

Vietnam won 2-0 over Nepal at Asian Games

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Nepal U23 suffered 2-0 loss at the hands of Vietnam U23 in their second match of Asian Games 2018 on Thursday.

The game kicked off at 7 p.m. local time at the Wibawa Mukti Stadium in West Java, Indonesia. Anh Duc Nguyen (31’) and Phan van Duc (64’) scored apiece for AFC U23 cup finalist.

At the moment, Vietnam shares the top position of Group D with Japan, each scoring six points with five goals. The teams will meet on Sunday afternoon, while Nepal will lay against Pakistan on August 18, aiming to enter second round as best third placed teams.

Vietnam faces sterner tests in the next round, but fans are thrilled and expectant.

We hope you enjoyed the game, and look forward to reporting upcoming games in greater detail.

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Plan for new era fosters M&A market

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As the mergers and acquisitions market in Vietnam enters a new era, various changes are underway to foster growth in the right direction for Vietnam’s economy and businesses.

Choosing the right investors
At last week’s Vietnam M&A Forum 2018 in Ho Chi Minh City, senior officials, experts, businesses, and investors discussed the future growth of Vietnam’s mergers and acquisitions (M&A) market.

After 10 years of booming M&A activities in the country and 30 years of foreign direct investment attraction, many believe that now is the time for Vietnam to map out a plan for the next phase of growth.

According to Minister of Planning and Investment Nguyen Chi Dung, in the new era, Vietnam will become much more selective about M&A inflows from overseas. Specifically, foreign investors should be willing to help with Vietnam’s environmental preservation plans and protecting Vietnam’s natural resources.

“We’d like to attract foreign investors that can connect well with Vietnam’s domestic companies. Technology transfer and co-operation is also key, as it is the basis of sustainable growth in the Industry 4.0 era,” said Minister Dung.

The minister said he is upbeat about the future of M&A in Vietnam, which he considers a more flexible process than direct investment.

To prepare for the next era of M&A inflows, the government is taking some big steps. First, deputy CEO of the State Capital Investment Corporation Le Song Lai noted that there are 140 state-owned enterprises (SOEs) slated for equitisation between now and 2020, including heavyweights Vinamilk and FPT Corporation. Decision No.1232/2017/QD-TTg, for the first time ever, has specified the name of these SOEs, as well as the anticipated amount and timeline of state withdrawals.

On the local level, Deputy Chairman of the Ho Chi Minh City People’s Committee Tran Vy Tuyen said that Vietnam’s biggest city is preparing for 39 SOE equitisations between now and 2020. In line with the national guidelines for new M&A transactions, Ho Chi Minh City will be very careful in selecting the right partners for its companies.

“We seek trustworthy and high-tech investors who can push our companies towards sustainable and long-term growth,” said Tuyen.

At the same time, the Vietnamese government is nurturing the stock market and striving towards emerging market status, providing investors with a liquid and transparent environment for both M&A inflows and exits.

Chairman of the State Securities Commission Nguyen Van Dung noted that the Securities Law is slated for revision in 2019, and regulators are pushing to implement the book-building method for SOE equitisation. This demand-based sale method is crucial to attract foreign investors in the new era.

Growing interest from foreign SMEs
In the past decade, there has been a growing number of big names from abroad involved in Vietnam-based M&A transactions. In the new era of growth, however, the M&A fever will extend to small- and medium-sized enterprises (SMEs) from overseas, according to international experts.

The trend is particularly prominent for Japanese and South Korean investors.

Jiun Park, senior deputy managing director at the Korea Trade Investment Promotion Agency (KOTRA), said that many South Korean SMEs have enquired about the process of doing M&As in Vietnam. Park called this “the third wave of investments from South Korea”, following the first wave conducted by conglomerates in labour-intensive industries and the second one by consumer goods companies.

“A characteristic of the third wave is strategic alliances between South Korean and Vietnamese companies. The South Korean partner can provide modern technology, while the Vietnamese side can help with brand presence, market share, and product distribution in Vietnam,” said Park.

The list of sectors is also more diverse than before, now expanding to pharmaceuticals, logistics, and manufacturing, according to Young-sup Joo, former South Korean Minister of SMEs and Startups.

Joo added that this wave is encouraged by the South Korean government, which set up the New Southern Initiative earlier this year. In the first half of 2018 alone, South Korean M&A deals in Vietnam have reached $200 million, so it is likely that 2017’s figure of $300 million will be well surpassed.

Masakata Sam Yoshida, senior managing director at Recof Corporation, said that the same trend can be observed in Japan. After seven years, Yoshida is seeing Japanese SMEs following in the footsteps of bigger corporations. According to the consultant, SMEs are more flexible in their strategy and can execute deals more quickly than conglomerates.

“Interestingly, succession-driven M&A from Japan to Vietnam have grown six-fold in the past six years. Some Japanese investors forecast that succession problems, which are already taking place in the ageing Japan, may spread to Vietnam in the next 30 years,” said Yoshida.

The consultant predicted that more M&A transactions of this type will be conducted in the future, especially if Vietnamese companies struggle to groom the next generation of senior leaders.

A new path for post-M&A integration
Another issue that has caught the attention of investors and officials alike is post-M&A integration, particularly between Vietnamese and foreign partners. This is not a new problem, but interest has recently revived due to conflict cases such as with South Korea’s Lotte and Vietnam’s Bibica, as well as VinaCapital and Ba Huan JSC.

Investors and experts believe that post-deal issues can be avoided by setting mutual goals, showing empathy, and reaching a compromise.

Nguyen Cong Ai, partner at KPMG Vietnam, advised that before embarking on a deal, companies should be clear about what they want and find investors with a mutual goal.

Specifically, if the goal is purely finding new capital, then an investment fund is more appropriate, while companies wanting to improve corporate governance and seek new markets may shake hands with strategic partners in the same sector. “Both sides should have a clear strategy before setting out to find M&A partners,” said Ai.

Nguyen Thi Tra My, deputy chairwoman and CEO of PAN Group, believes that accepting cultural differences is very important. For example, earlier this year, PAN Group took over Sao Ta Foods JSC, a food firm headquartered in the Mekong Delta province of Soc Trang. The vast majority of employees at Sao Ta are of Khmer origin, and PAN Group respects that these staff members have different traditions and holidays.

Phan Xuan Can, chairman of real estate brokerage Sohovietnam, said that many Vietnamese private companies have their roots in family-owned businesses, where decisions used to be restricted to family members.

“Many M&A deals fail as Vietnamese executives are afraid of yielding their power to outsiders,” Can said.

Experts believe it will take time for Vietnamese companies to get used to external voices, especially from foreign investors with a very clear set of objectives and often a hands-on approach to corporate governance.

It is also important to note that in the new M&A era, companies and investors in Vietnam will not be alone in finding their way to “marital bliss”, as the support system is growing more sophisticated. This includes the legal framework as well as the network of investment bankers, consultants, lawyers, and advisors.

“A few years ago, it was very hard for us to do M&A in Vietnam due to the lack of advisory firms with due diligence services. Nowadays, we can find a growing range of providers here and that makes us more confident in investing,” said Fan Li, principal at Warburg Pincus, which recently poured $1 billion into the initial public offering of Vincom Retail and Techcombank, as well as setting up a joint venture with Becamex IDC.

Phuong Ngoc report on VIR