Vietnam: Over 200 drug users escaped of rehab centre

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HANOI: Around 200 drug users escaped from a rehab centre in Vietnam on Saturday (Aug 11), police said, the latest breakout attempt from the country’s controversial treatment facilities – Reported by Channel Asia

Some addicts are forced by law to spend up to two years in Vietnam’s rehab centres, while others are admitted by family or check themselves in.

Most detainees undergo cold-turkey treatment in the notoriously overcrowded centres or are subjected to solitary confinement for breaking rules.

Several breakouts have occurred in recent years and the most recent started on Saturday morning in the southern province of Tien Giang, a police officer said on condition of anonymity, adding that about half the escapees had already been captured.

“There are around 100 addicts still on the run and the police are still looking for them,” the officer said.

A disagreement with staff escalated into an assault, with patients wielding knives and bricks and encouraging others to break down the door, state-controlled website VnExpress reported.

Images circulating on social media showed dozens of men, many shirtless, wandering on a highway near the rehab centre.

“They passed my area holding canes and shouted like protesters. When we saw them, me and people around were scared and worried,” local resident Le Hai Trieu said.

Residents pitched in to help local authorities capture the men.

Another state media outlet said that more than 650 people are registered at the Tien Giang facility, but it did not provide figures on the number of voluntary admissions.

There are more than 220,000 registered drug addicts in Vietnam, according to official statistics released last year, with heroin and methamphetamine the most popular narcotics.

While Vietnam is experimenting with more community-based treatment options in response to criticism over the centres, they remain the most-used form of recovery.

The centres are widely supported as a viable treatment option although addiction specialists say they don’t work and relapse rates are high.

Early last year 100 people escaped from a centre in southern Long An province because they were upset about spending the annual Tet new year holiday away from their homes.

Continue reading “Vietnam: Over 200 drug users escaped of rehab centre”

Vietnam: Vinfast and Siemens make electric buses

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VinFast Trading and Production LLC has signed two contracts with Siemens Vietnam, a unit of Siemens AG, for the supply of technology and components to manufacture electric buses in the Southeast Asian country.

VinFast, a unit of Vietnam’s biggest private conglomerate, Vingroup JSC, said on Monday the deals will enable it to launch the first electric bus by the end of 2019.

“Electric buses are an essential element of sustainable urban public transportation systems,” Siemens Vietnam President and CEO Pham Thai Lai said in the statement.

VinFast will also produce electric motorcycles, electric cars and gasoline cars from its $1.5-billion factory being built in Haiphong City, it said.

In June, General Motors Co agreed to transfer its Vietnamese operation to VinFast, which will also exclusively distribute GM’s Chevrolet cars in Vietnam.

Reporting by Khanh Vu

Continue reading “Vietnam: Vinfast and Siemens make electric buses”

ANZ Vietnam: Jodi West appointed as new CEO

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Australia and New Zealand Banking Group Limited (ANZ) today announced the appointment of Jodi West as new CEO of ANZ Vietnam, reporting to Farhan Faruqui, ANZ Group Executive, International.

According to the announcement on the website of ANZ, Ms Jodi West joined ANZ in 2015 as Head of Institutional FX Sales, Australia. Prior to ANZ, she held roles in the FX & Commodity sales team at both Citigroup and Barclays, and was also Head of Corporate & Institutional Market Sales at National Australia Bank.

Farhan Faruqui, ANZ Group Executive, International, said: “Vietnam is an important part of our regional network for our Institutional customers. Jodi brings more than 20 years of banking experience to the role, and her strong leadership, customer network and product expertise will help build upon our well-established franchise in Vietnam.”

Ms Jodi West commences in the role on 13 August 2018, based in Ho Chi Minh City, Vietnam.

ANZ is one of the first foreign banks to open, and has been in Vietnam since 1993. In 2008, ANZ was granted a banking license by the State Bank of Vietnam (SBV) to locally incorporate in Vietnam. ANZ Vietnam has presence in two major cities, Hanoi and Ho Chi Minh City.

In 2017,  ANZ has sold its retail business in Vietnam to South Korea’s Shinhan Bank Vietnam, part of a broader retreat from Asia retail banking. By that time, Farhan Faruqui was head of international business at ANZ  told Financial Times that, the sale is “in line with our strategy to simplify the bank and improve capital efficiency. It allows us to focus resources on our largest business in Asia -institutional banking.”

Fewer and fewer sea turtles coming inland to lay eggs in Vietnam

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The number of sea turtles coming to inland areas in Nui Chua National Park in the south-central province of Ninh Thuan Province of Vietnam has decreased, according to the national park management board.

VNS reported, the national park is home to Thit, Hom and Ngang beaches, where sea turtles regularly lay eggs. Apart from Con Dao National Park in Ba Rịa-Vung Tuu Province, the beaches are some of the most important sea turtle nesting grounds in the country.

In 2016, the Nui Chua National Park recorded 73 instances of sea turtles coming to the areas to lay eggs, digging 24 nests. More than 1,500 baby turtles were returned to the sea. Last year there were only 21 instances in which turtles laid eggs. Turtles dug 10 nests and 681 baby turtles were returned to the sea.

As of August 2018, there have been only 12 instances of egg-laying this year, with six nests. Three species – green sea, hawksbill and loggerhead – historically lay eggs in the area. But in recent times, only green sea turtles have been seen.

According to the management board of Nui Chua National Park, climate change, prolonged sunshine and droughts have reduced the humidity of the sand, making conditions unsuitable for turtles to lay eggs.

Nguyễn Sĩ Hùng, head of the park’s sea preservation division, said that destructive fishing activities such as using dynamite, toxic chemicals and coral mining seriously affected the living environment of sea turtles.

“Turtles can be suffocated in fishing nets. Egg-laying areas and sea turtles’ feeding sources have been narrowed by construction work,” he said.

Since 2000, the Nui Chua National Park, with assistance from World Wildlife Fund, Global Environment Fund and Institute of Oceanography, has conducted projects to study the egg-laying habits of sea turtles, aiming to develop egg-laying area protection plans and conduct sea turtle rescues.

A sea animal rescue centre was built to save and treat turtles that are trapped or caught and return them to the sea.

Local residents have volunteered to protect turtles by taking part in training courses on how to protect baby turtles from being destroyed by natural disasters and how to protect eggs from tide waters.

The national park is working on building a network of areas in Vietnam which can receive and save sea turtles.

The People’s Committee of Ninh Thuan Province has ordered relevant sectors to supervise the activities of transporting, keeping and selling sea turtles and their eggs.

Tourism agencies and Nui Chua National Park must ensure that tourist visits to the egg-laying areas will not affect animal protection work.

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Biggest Taxpayers list in Vietnam FY 2017

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The 1,000 Biggest Taxpayers 2017 list has several banks, including Vietcombank, VietinBank and BIDV, right at the top.

According to a report by Thanh Xuan on VNExpress, 10 lenders made it to the top 50. Vietcombank inched up two spots from 2016 to fourth behind telecom giant Viettel Group, Japan’s automobile manufacturer Honda Vietnam and PetroVietnam Gas JSC (PV Gas).

Vietinbank retained its ninth position.

Last year Vietcombank reported pre-tax profit of more than VND10.8 trillion ($464.4 million), a year-on-year increase of 32 percent.

This was the first ever time a Vietnamese bank’s profit exceeded VND10 trillion ($430 million).

Forbes listed the two among the world’s 2,000 largest public companies: VietinBank was in 1,633rd place with revenues of $2.7 billion and a market value of $3 billion while Vietcombank came in at 1,656th with $2.1 billion and $5.8 billion, respectively.

The Ho Chi Minh City Development Commercial Joint Stock Bank (HD Bank) jumped 91 spots in the tax list to 40th place.

BIDV, Agribank, Military Commercial Joint Stock Bank, and Techcombank were the other lenders in the top 20.

A report from the National Financial Supervisory Committee earlier this year estimated that the banking sector’s pre-tax profits surged by more than 40 percent last year on the back of strong credit growth, better-than-expected bad debt settlement, effective risk management, and the strong real estate market.

Interestingly, foreign-owned banks moved downward in the taxpayers’ list, HSBC Vietnam Ltd. by seven spots and ANZ by four.

This is the second year that the rankings have been announced, and the list contains 703 firms from the 2016 edition and 297 new ones.

The manufacturing sector continued to dominate the list with 36 percent of the tax paid. It was followed by the finance-banking-insurance sector (14.8 percent) and telecommunications (9.3 per cent).

Hanoi and Ho Chi Minh City continued to lead in terms of number of businesses and tax contributions, with 36 percent and 32.5 percent.

The highly industrialized Dong Nai and Binh Duong provinces near HCMC followed with 5.8 percent and 4.4 percent.

The list included 117 state-owned enterprises, which paid 27.7 per cent of the total tax.

Foreign companies accounted for 40.4 percent of the total number and paid 36.7 percent of the tax, with Samsung, Heineken and Siam City Cement all making it to the top 10.

Vietnamese nationals have been jailed over a cannabis grow house in Australia

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Brothers Hieu Dinh Vu and Dinh Tung Vu – and the latter’s wife sentenced Friday
Operation was capable of yielding up to $2million worth of cannabis every year
Hieu’s barrister said client couldn’t refuse brother and didn’t understand ‘weed’

A Vietnamese national jailed over one of the biggest cannabis grow houses ever found in Australia claims he was tricked into helping the operation and didn’t understand the term ‘weed’. Max Margan reported on DailyMail.

Brothers Hieu Dinh Vu, 26, and Dinh Tung Vu, 27, as well as the latter’s wife Thi Phuong Lien Tran, 30, were arrested in May 2015 during dramatic police raids on their Alice River home in Townsville’s west.

The 26-year-old’s barrister said his client was only involved in the operation – capable of yielding $2million worth of cannabis each year – because he ‘couldn’t refuse’ his brother.

‘It wasn’t until far later he became aware of the purpose of the Ring Road property or even the meaning of the word ”weed”,’ Harlis Kirimof said, the Townsville Bulletin reported.

A Vietnamese national jailed over one of the biggest cannabis grow houses ever found in Australia claims he was tricked into helping the operation and didn’t understand the term ‘weed’. Pictured are some of the plants police seized in May, 2015

‘While he may have assisted in the setting up of the grow house, he never initiated anything.’

The trio were jailed on Friday, with Judge Gregory Lynham finding Dinh Tung Vu was the chief offender.

Judge Lynham said the sophistication of the operation suggested there was ‘someone further up the chain who’s never going to be identified’.

Dinh Tung Vu was jailed for five years, his wife for three-and-a-half years and his brother for three.

The trio were arrested in May 2015 during dramatic police raids on their Alice River home in Townsville’s west

Vietnam int’l aviation grows 20+%. Bamboo Airways and Vietjet accelerate

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Vietnam’s international aviation market has grown at a phenomenal rate in the past three years, driven by a surging tourism industry.

Vietnam is on pace to have 38 million international passengers and 16 million visitors in 2018, compared to only 18 million passengers and eight million visitors in 2015.

According to a report on CAPA, not surprisingly, the rapid growth has captured the attention of both local and foreign airlines. VietJet, one of Asia’s fastest growing LCCs since it launched at the end of 2011, has shifted its focus almost entirely to the international market – including long haul – after concentrating its first five years on domestic services.

The growth has also compelled the Vietnamese real estate company FLC to establish a new hybrid airline, Bamboo Airways, with a focus on the international market. Bamboo could launch domestic services as early as 4Q2018, followed by regional international services in 2019 and long haul services in 2020 using newly ordered 787s. However, there is a risk that Vietnam’s international market will have slowed by the time Bamboo and another high profile proposed start-up, AirAsia Vietnam, enter.

Unique parrot cafe in Saigon, Vietnam

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A café in HCM City offers customers a very special atmosphere as it is home to up to 40 parrots of 20 different species.

According to an article on  Dtinews, the café located on Nguyen Van Huong Street, District 2, has been open since 2014.

Colourful parrots are not kept in cages and are very friendly so customers can touch them. They originate from Asia, Africa and America.

 

The café is among the first parrot cafés in HCM City. Parrots are priced at millions of VND each, but some are even worth up to USD5,000 such as Harlequin Macaw species from South Africa.

 

The parrots are taken care of by a staff member. The average cost for caring each parrot is VND3 million (USD128) per month.

 

Many parents take their children to the café to see the parrots

 

The cute parrots

 

They are trained in a professional way, so they are well-behaved to customers

 

Online dating: Aim high, keep it brief, and be patient

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Scientists say the secrets to success in online dating are to aim high, keep your message brief, and be patient.

Playing “out of your league” or dating people considered more attractive than you, is a winning strategy, according to a new analysis of internet daters in the US.

Men had greater success when they approached women they believed were more desirable than themselves.

Related: Brunette dating

The new study has been published in the journal, Science Advances.

Internet dating has become the dominant form for those seeking romance – it’s the third most popular means of meeting a long term partner and around half of all 18-34 year olds now use dating apps.

In this new report, scientists used a Google-inspired algorithm to understand the desires of people wanting to match up. They analysed messaging and demographic patterns among heterosexual users in New York, Boston, Chicago and Seattle.

They found that both men and women contact potential partners who are, on average, around 25% more desirable than themselves.

Your “desirability”, they found, is not just about the number of messages that you receive, but who you receive them from.

If your messages come from people who have themselves received lots of messages, that makes make you more desirable, according to the study.

When women approached men, they received a response 50% of the time.

When men aimed at women who were rated as more desirable than themselves, their response rate was 21%.

That might seem low but the authors of the study suggest that online daters were wise to take the risk.

“I think a common complaint when people use online dating websites is they feel like they never get any replies,” said lead author Dr Elizabeth Bruch from the University of Michigan.

“This can be dispiriting. But even though the response rate is low, our analysis shows that 21% of people who engage in this aspirational behaviour do get replies from a mate who is out of their league, so perseverance pays off.”

Generally, most people received a handful of replies at best, but a few people received many more. One woman in the study was bombarded with a new message every half hour, from over 1,500 different people in the month long study.

As the data were wholly anonymised, we can only speculate about what it was about this woman that struck the attention of so many men.

The secret to success – keep it brief

Both men and women tended to write longer messages to a more desirable partner, sometimes up to twice as long, but the study found that this barely makes any difference to the response rate.

Dr Bruch said: “I feel that we can save people a lot of work in not writing longer messages.”

Why does writing a longer message not work?

“We don’t really know. One of the reasons might be that people that are desirable may have so many messages in their inbox, they don’t read most of them. That lovingly crafted message that you spent two hours on may go unopened,” said Dr Bruch in an interview with the BBC.

Co-author Professor Mark Newman, also from the University of Michigan, said: “Playing out of your league is one way to reduce the rate at which you get replies. That does not seem to stop people from doing it, and it seems to be standard behaviour. There is a trade-off between how far up the ladder you want to reach and how low a reply rate you are willing to put up with.”

If you aren’t getting any replies, then be patient. Your potential dates might be judging the market before committing to reply at all.

Although the maths is complicated, research has shown that your chance of picking the best date is highest if you reject outright the first 37%. You should then choose to date the next person that’s better than all the previous ones.

Deal-makers and deal-breakers in dating

Previous studies have shown that your dating profile should be roughly 70% about yourself, with the rest about what you’re looking for in a partner. But the problem with this thinking is that it assumes that people are going to read your profile or your message in the first place.

Dr Bruch said: “Women could afford to be more aspirational than they are. Their reply rates are already high enough that they can afford to take a hit.”

You might also want to think about when you reply. Dr Bruch added: “People’s behaviour at two o’clock in morning looks very different from their behaviour at 8 o’clock in the morning. Which is better depends upon what your goals are.”

Man’s not hot

The study showed that women tended to use more positive words when communicating with more desirable partners, whereas men tended to play it cool, showing a slight decrease in positive words.

Reinforcing a well-known stereotype, women’s view of men’s desirability peaked at around the age of 50, whereas women’s attractiveness to men declined from the age of 18.

The authors stressed that this does not mean following these stereotypes is the key to successful dating. People are able to make choices.

Dr Bruch said: “There can be a lot of variation in terms of who is desirable to whom. There may be groups in which people who would not necessarily score as high by our measures could still have an awesome and fulfilling dating life.”

Of course, making contact with dates online is only the first step in courtship. Most messages ended in failure.

Previous research has shown that when people are able to spend proper time together, their characters become far more important than the superficial information that they receive on a dating app.

“I am fascinated with the rules of dating, this paper is the initial leg of that research effort. Once you get past that first response, it is not clear how desirability continues to matter. There is some evidence that people focus on the most superficial aspects of their potential romantic partners at the earliest stages of the relationship and later on those things don’t matter so much.”

According to a report  on BBC

Michael Owen interest in Vietnamese football talents

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Ex-football star Michael Owen is due to make his presence in Vietnam on August 13-14 to have a fan exchange as part of an event launched by a technology company involving his investment.

According to a report on VOV his primary goal during this trip to Vietnam is to seek for the training of young Vietnamese talents as the 33-year-old British striker is destined to land his investment in football academies in the Southeast Asian nation.

Born in 1979, Michael James Owen once played as a striker for Liverpool, Real Madrid, Newcastle United, Manchester United, Stoke City, as well as for the UK national team.

After ending his football career, Owen has become involved in multiple fields such as working as a football commentator, investment in horse racing, property, and blockchain technology.

Over the past three years, he partnered with a few football academies in China and the Middle East.

 

Free English class for children at pagoda in Hanoi

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On a bright Sunday morning, 10-year-old Doan Nhat Minh joins his friends at an English class to take a walk around Hoan Kiem Lake in downtown Hanoi.

The weekend pedestrian street is bustling with locals and tourists going sight-seeing.

Yet today Minh and his friend do not simply stroll leisurely around the lake. They eagerly seek out foreigners to talk with them, collect their signatures and compete for the award for the pair that speaks with the most foreigners.

According to a report on VNS, they stop every group of foreign tourists to start conversations and meet a warm response.

Love to learn: Teacher Duyen (middle) guides her student to make a postcard during an extra class game.

Their topics range from favourite foods, colours and weather to impressions of Vietnam.

“I have just attended the class for one week,” Minh said. “I found it interesting with a lot of games and fun. I just want to learn to communicate with foreigners. I love this seeking and chatting game.”

The game is a regular activity of the free English class for children based in Phap Van Pagoda in the southern outskirts of Hanoi, launched by teacher Tran Thi Huong Duyen.

“We organise the extra class activities like this only ever three weeks, as we are lacking volunteers to manage the teams,” Duyen told Viet Nam News.

Duyen said she runs three classes every Sunday morning for three age categories: kids grades 1 – 4, juniors grades 4-8 and teenagers grade 8 through high school.

Duyen said all the teachers of the class work for free, serving students from all over the city.

“We aim to serve pupils who cannot cover the fees at a language centre,” she said. “When I was small, I also wanted to learn English but did not have money to cover the costs. I used to wish for a free class like this.”

Duyen explained she wanted to use the pagoda space to run the class as she wants the children to not only learn English lessons but also develop a consciousness of ethics and justice at a young age.

“The pagoda is a solemn and tranquil place,” she said. “Children can learn more effectively in such an atmosphere.”

Le Ngoc Diem My, 10, has attended the class for one year and said that she was more confident speaking English with foreigners.

“I’m longing for the class during the weekdays,” she said.

Nguyen Thi Thanh Van, My’s mother, said she visited Phap Van Pagoda and by chance discovered the free English class.

“I think it’s a good model for families with meagre income like mine,” she said. “My daughter now can speak English very well and I don’t have to pay anything.”

She said the teachers print out handouts and lure children with many games.

“The classroom is a prayer hall and children’s tables are the tables that monks use to hold their praying books,” she said. “In this way, the pagoda is really an open space for needy people.”

Say cheese: Duyen (right) takes a photo for her students and foreigners at Hoan Kiem Lake.
Time to talk: Students in the class practise English with a tourist from Canada in Hoan Kiem Lake.

Duyen said the organisers had struggled with many difficulties since launching the class in July last year.

All 25 volunteers have co-ordinated with one another and received supports from the pagoda to run the class.

Children learn from various handouts prepared by the teachers, which are combined with games to turn the class into an easy-going, relaxing and funny learning place.

“Students are not under any pressure in terms of marks or academic records,” she said. “They learn naturally according to their capabilities. They don’t have to be scared of anything like they may be at school.”

Duyen tries to keep each class for a maximum three months and enroll new students so that more and more children can get the knowledge freely.

Volunteers are mostly teaching English at language centres in the city to earn their living.

Duyen herself has joined various charity trips to other localities.

“We teach students in the provinces and bring them the chance to exchange with foreigners,” she said.

Duyen revealed that she wanted to open more charity classes in other areas of the city to meet the increasing demands of needy learners.

“Many students in our class have to travel 20km away from the other side of the city,” she said.

Parent Pham Xuan Quyen is grateful for the class.

“My son has learnt a lot from the class,” he said. “Such a free class should be open in more areas and get support from everyone. I intend to send my smaller son to the class next year, when he is grown up enough.”

Duyen said that since last July the centre has hosted nearly 200 learners.

“They just come and study and don’t have to pay anything,” she said.

“I think Duyen’s project is very humane and she’s implementing it well,” said Pierre Kornig, a retiree from France, who has joined the class as a volunteer. “I like children so I can try my best to help them.”

“Hanoi needs a museum of collective houses”

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“Almost all ancient houses that contain sediments of many generations have gradually disappeared from Hanoians’ minds,” lamented painter Nguyen The Son at the recent exhibition “Hanoi Architects and the city”.

The painter is afraid that the gradual disappreance of old architectural blocks or collective houses can affect Hanoi’s vista.

Hanoi has the highest number of old apartment buildings in Vietnam, with more than 1,100. After dozens of years of survival, these collective houses have become dilapidated, over-crowded, and dangerous, undermining the safety of thousands of local residents.

However, the disappearance of these historic constructs that stood witness to the ups-and-downs of the city’s history will bring bitter regret to Hanoians and cultural researchers.

Disappearing old collective houses

For those born in the 1950s and 1960s, the series of the four or five-story collective houses on Kim Lien, Pham Ngoc Thach, Nghia Tan, and Nguyen Quy Duc street are a special sight from their childhood. The old zones have stood there since the mid-twentieth century. Nowadays, skyscrapers are coming to dominate the landscape.

In the old days, the first floor of the collective was the place to open shops, grocery stores or restaurants. But recently, these old zones are gradually replaced by high-rise apartment buildings. The remaining few are degraded and the remaining residences shrink in number.

Surveying more than 70 communal houses in the city, painter Nguyen The Son found that many of them have disappeared, while in some, only the upper parts remain.

“Once back from a trip, I was thrilled to see all the advertisements and billboards on the way home from the airport. The scene signals a change in Hanoi’s traditional culture,” Son said.

Hanoi’s Old Quarter also changed a little, with numerous old constructions of unique architecture from the French colonial period being demolished and replaced by high-rise buildings for business and tourism purposes.

Giving special attention to these old collective houses, Jean Noel Poirier—former French ambassador to Vietnam—said: “I think if those Russian architects ever come back to these complexes, they will feel like this was Mars because the city has changed a lot from their initial designs.” Though understanding that these condominiums will gradually disappear from future urban planning, the diplomat still regards the old collective houses as valuable pieces in Hanoi’s treasure box of history.

Treasure ancient architecture

The disappearance of Hanoi’s ancient cultural architecture is due to the selfish minds who are only interested in building and making a profit for themselves. Economic value is now a priority in many people’s minds.

“These old collective houses should be kept and gradually turned into sight-seeing destinations or museums,” said painter Nguyen The Son. He believes that it is important to respect and preserve the old architecture by developing and renovating them into attractive hubs for the younger generation.

On the other hand, architect Tran Huy Anh said that the city has never witnessed such a huge volume of construction works. The growth of the trading centers and high-rise business buildings is a major issue that requires intervention of not just individuals but society as a whole.

According to a report on HanoiTimes

Vietnam’s Most Instagrammable Resort: The InterContinental Danang

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Danang may not be the first place you think of when you think of Vietnam. However, the InterContinental Danang Sun Peninsula Resort is reason enough to go. A destination property, here they have everything – from the most exquisite natural wonders to crashing cerulean waves and biscuit-coloured cliffs to the hotel’s private gondola, a world-class spa, an on-site nightclub, a Michelin-starred restaurant, library, cooking school and so much more.

A view of the ocean from a Son Tra Terrace SuiteCOURTESY OF INTERCONTINENTAL DANANG SUN PENINSULA RESORT

The consideration to design is unparalleled. Architect Bill Bensley lived on site for two years while finalising this resort. And his commitment shows. Each room and space is a riotous display of colours, textures and artefacts. Bill travelled the world finding books, cushions, local treasures and so much more, and has placed these authentic items from his world adventures throughout.

The Barefoot Restaurant at InterContinental Danang Sun Peninsula ResortCOURTESY OF INTERCONTINENTAL DANANG SUN PENINSULA RESORT

The property is large, with a total of 200 rooms, including 16 penthouses and villas. And the room sizes are more than generous. The Club Peninsula suites all have ample terraces, making it alluring to practically never leave your enclave, while the fridge and minibar are actually housed outside, alongside your private day-bed, sofa and chairs. It’s fun and pampering.

The hotel’s latest addition, the three bedroom Bai Bac Bay Villa, has to be one of the most opulent rooms in all of Vietnam. Secluded from the majority of other rooms, it features sweeping and unobstructed views of the private bay. Inside, the design feels a little like a Pollock painting, with its vast array of bright, unapologetic colours, and at 500sqm, one could practically. It also features three separate private pools, the central one being large enough to genuinely swim. There’s a well-equipped and very modern kitchen – no expense has been spared – as well as a dining room, making it so the expression ‘there’s really no reason to leave’ rings true.

A bay view from the Bai Bac Bay VillaCOURTESY OF INTERCONTINENTAL DANANG SUN PENINSULA RESORT

Of course many of the suites come equipped with their own pools – it’s just perfection to wile away an afternoon this way. There’s also a pool near the beach, a favourite for young kids and families. The adults-only infinity pool, the Long Pool, which offers peace and respite as well as sweeping views of the resort and surrounding peninsula. This part of Vietnam is lush and verdant, it’s alluring at every corner you look. Of course, there’s also 700-metres of private beach, dotted with sunloungers and attentive staff members. There’s also an on duty lifeguard on the beach, which may comfort some less advanced swimmers, as the water can be a little chalky at time.

Having been to many, the spa is, I think, my favourite anywhere in the world. Each of the Harnn Heritage Spa villas are individual treatment spaces that have a square footage rivalling my entire flat in London. Overlooking a private lagoon the views are outrageously beautiful and instil peace and serenity from the moment you enter. Having won practically every spa award in Asia, it is an unparalleled concept. Combining traditional Asian techniques and naturopathy, many of the treatments are infused with local herbs and botanicals. And everything here is designed around a philosophy of rebalancing. They’re also highly personalised and before you begin, you participate in a mixology consultation where you complete a details questionnaire around scents and your preferences so the therapist can create an bespoke oil for you.

There is also an on-site mani/pedi studio by Bastien Gonzalez. The French podiatrist with an A-list clientele has developed a signature method where none of his nail treatments use water – as he believes that ultimately dries out the skin and the nail-bed, and instead he introduces minuscule drills tipped with diamond dust, followed by a polishing technique he learned from his grandmother that uses a chamois-leather cloth and a pearl buffing cream. To finish, the therapists recommend instead of polish, simply enjoying the nail’s natural shine.

La Maison 1888, the hotel’s Michelin-starred restaurantCOURTESY OF INTERCONTINENTAL DANANG SUN PENINSULA RESORT

There are lots of idiocracies and quirks to this property, much of which takes its lead from Bill Bensley’s eclectic design. There’s a cable car called the Nam Tram that cuts through the resort and is staffed with an attendant 24-hours a day. The resort is divided into levels, a bit like a wedding cake and each section has a name, the highest being Heaven Level. This is also how to navigate the stops on the train. There’s also an eccentric nightclub at the property, a maze of rooms and bars. There’s also a vast conference centre, the APEC Economic Leaders’ Meeting was held here in 2017, as well as a number of private meeting spaces, each named after a different Hollywood icon. And note, as is to be expected of a hotel of this calibre, this is a spot for the well-heeled. Around the pool and restaurants you’ll find an incredibly chic mix of predominately South Korean, Japanese and Singaporean travellers – expect Goyard bags and Chanel shades.

Picture-perfect pool viewsCOURTESY OF INTERCONTINENTAL DANANG SUN PENINSULA RESORT

As a generalisation, food in Asia is hard to beat – the freshness of the ingredients, the fragrance of the dishes, the blend of unexpected flavours. There’s a magic to it. And  that can certainly be said of the four restaurants here at the hotel.  Citron is the hotel’s main restaurant, serving breakfast, lunch and dinner from its sunnily designed space. Food is casual, authentic and the portions are generous. They also often host decadent buffet meals where the menu ranges from Western to Italian to Asian. The outside booths at Citron sit at about 100 metres above the beach – try to sit at one of these if you can.

The Long Bar is playful and inviting – with huge day-beds to lounge and eat on and rustic swinging chairs throughout. Like the rest of the hotel, the colourscape is loud and riotous – sunny yellows and jailbird black and white strips lead the aesthetic. The cocktails are fruity and fun, just what you want when in repose. The signature drink is fresh orange juice combined with Southern Comfort and a splash of Champagne.

The Long BarCOURTESY OF INTERCONTINENTAL DANANG SUN PENINSULA RESORT

The Barefoot Cafe does all-day food and snacks – casual seafood, sandwiches and scrummy desserts. On certain evenings they light welcoming candles and host a barbecue buffet – this is not to be missed. It’s fuss-free and delightful.

The hotel is incredibly proud of La Maison 1888, its fine-dining Michelin-starred restaurant my Pierre Gagnaire. The French chef built his reputation in Paris at his eponymous restaurant, which currently boasts three Michelin stars. The Danang restaurant is beautifully designed, so that each perfectly set white-clothed table feels intimate and has a sense of drama. Gagnaire describes himself as a chef who cooks from his heart and that rings apparent in his menu and the presentation of this world-class cuisine. The menu changes often and you certainly won’t leave hungry.

For those staying within an elevated room category, there is also a club lounge, which flanks Citron restaurant. Here those with access can enjoy complimentary tea and coffee throughout the day, continental breakfast, afternoon tea and a selection of evening cocktails and canapés.

The Harnn Heritage SpaCOURTESY OF INTERCONTINENTAL DANANG SUN PENINSULA RESORT

A hotel in a class of its own, at the InterContinental Danang Sun Peninsula Resort you have sun, sand and endless things to try and occupy yourself with. And everything will be designed and delivered with the care of this truly hospitable hotel staff. As here, the answer to the question jump is, how high?

By Bridget Arsenault, Forbes

Vietnam M&A Forum 2018 explores new drive for M&A

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Titled “The Push of the Decade,” the first session of Vietnam M&A Forum 2018 explores the new driving force to boost the Vietnamese M&A market.

In the session, KPMG Vietnam provided an overview of the past 10 years in the Vietnamese M&A market. Deputy Prime Minister Vuong Dinh Hue shared his thoughts on the outlook of doing M&A, as well as the Vietnamese government’s efforts to push the economy forward in a sustainable manner.

The speech by Warrick Cleine, chairman and CEO of KPMG, pointed out challenges in the M&A market. He raised the question of what the government and the business community need to do to improve the M&A market in the new era.

Indeed, the Vietnamese M&A market is full of potential targets. According to Tran Vinh Tuyen, Deputy Chairman of the Ho Chi Minh City People’s Committee, M&A activities remain robust in Ho Chi Minh City with around 30 deals in the recent time. Also, another 39 companies will be equitised by 2020, especially in the fields of commerce and logistics. The city is looking to select reliable partners with high-technology, which will maximise the benefits for both businesses and the government.

Le Song Lai, deputy CEO of State Capital Investment Corporation, said that around 140 companies will be equitised by 2020, including big corporations like Vinamilk and FPT. If the equitisation process is successful, SCIC is expected to collect VND100 trillion ($4.3 billion) for the government, which will ultimately contribute to the improvement of the legal framework and the growth of the M&A market.

Vuong Dinh Hue – Deputy Prime Minister

Vietnam focuses on restructuring five areas of finance-banking, public sector, public investment, budgetary revenue, and public administrative units. For banking and finance, the government continues its efforts to resolve bad debts, which reduced from 10.8 per cent at the beginning of 2016 to 6.9 per cent in the first six months of 2018. The government is also boosting M&A activities among commercial banks and credit institutions.

In 2017, the number of equitised companies has increased 6.5-times against 2016. The government has collected VND2.5 trillion ($107.5 million) in 2016-2017, which is double the figure of the previous period. The government will continue to speed up the equitisation and divestment process. On top of that, the government is committed to complete the legal framework, strengthening institutional reform as well as improving macroeconomic fundamentals with a view to facilitate M&A activities.

Nguyen Chi Dung – Minister of Planning and Investment

Vietnam is preparing to review 30 years of FDI attraction. The conference is scheduled to take place on October 4 in Hanoi with a view to summarise and evaluate the achievements after 30 years of FDI attraction as well as create a new FDI attraction strategy. Following the conference, the government will put forward solutions for sustainable and selective FDI attraction. The question is whether M&A will continue to grow in Vietnam and what should be done to drive the M&A market forward.

Indeed, M&A is shifting capital from low-efficiency sectors to more profitable fields. Investors assess and evaluate the growth of the economy, market potential, as well as relevant policies to strike deals. It is apparent that M&A deals are on the rise in Vietnam thanks to the high economic growth. M&A also offers a flexible approach for investors to expand in the market.

Warrick Cleine – Chairman and CEO, KPMG in Vietnam and Cambodia

The Vietnamese M&A market has enjoyed a compound annual growth rate of 17 per cent between 2007 and 2017. The number and value of M&A deals are on the uptrend. The largest M&A deal was the $4.9 billion deal between ThaiBev and Sabeco in 2017.

The main source of investment in the next three years is expected to come from Japan, South Korea, China, Thailand, Singapore, and Hong Kong. In particular, Chinese investors are expected to be more active due to the proposed Regional Comprehensive Economic Partnership (RCEP).

Vietnam has the highest economic growth rate in Southeast Asia, which is opening up opportunities for investors. The most promising sectors for M&A include food and beverage, pharmaceuticals, life sciences, and real estate.

However, there are some challenges during the due diligence process in Vietnam, including the quality of historical information, responsiveness, preparedness, willingness to share information, legal issues, tax issues or exposures as well as limited information flows.

Seck Yee Chung – Partner, Baker & McKenzie

Foreign investors are looking at the government’s efforts and commitments to opening the economy, improving the business environment, and attracting foreign direct investment. They hope to see harmony in the legal framework, learn about regulatory changes as well as the possibility of raising the foreign ownership limit further in the future.

The changes are indeed taking place and many M&A deals are in the making. New economic models are emerging in the Industry 4.0, including e-commerce and digital transactions. Hence, the government should have measures in place to support these new business models.

Dominic Scriven – Executive chairman, Dragon Capital Group

In the past 10 years, Vietnam has witnessed significant changes in the M&A market. Moving forward, M&A will develop in line with demand. Particularly, investors will become more selective with a focus on internal forces. Investors look at the target companies, their competitiveness, scale, strategy, and successive leadership. However, there is a lack of potential targets for M&A.

At present, the scale of the Vietnamese M&A market is comparable to that of Malaysia and Indonesia, despite having a higher population than Malaysia and lower than Indonesia. The growth of M&A should be stronger.

According to a report on VIR

 

Vietnam emerges as Asia’s newest ‘tiger’ economy

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Asia’s original fast-growing ‘tiger’ economies in the 1970s and 1980s were Hong Kong, Singapore, Taiwan and South Korea. The baton then passed to a new generation of fast growers: Thailand, Indonesia, Malaysia and, more recently, India. Asia’s latest ‘tiger’ however, is Vietnam with the latest data showing its economy roaring in 2018 as it emerges as one of the world’s fastest growing economies, QNB noted in its weekly ‘economic commentary’.

According to a report on The Peninsula Qatar, a range of indicators show Vietnam’s booming economy. GDP growth raced ahead by 7.1 percent y/y in the first six months of 2018; the economy’s fastest growth since 2011. The manufacturing sector is leading the charge with output up 13.1 percent y/y in the first half of the year. Construction is also playing a strong supporting role with output in that sector up 7.9 percent y/y over the same period.

According to QNB analysts, the counterpart to Vietnam’s manufacturing boom are surging exports. Monthly trade statistics can be highly volatile but the latest data show goods exports up over 20 percent y/y in the first half of the year, following growth of over 17 percent in 2017 as a whole.

Manufacturing and export success has been driven by Vietnam’s ability to attract large foreign direct investment (FDI) inflows into sectors such as clothing, footwear and, above all, electronics. It is now estimated for example that one in 10 smartphones worldwide are now made in Vietnam. Latest data show FDI inflows also booming. These were worth an estimated $13bn in H1 2018 with a 11 percent y/y growth. To put these FDI inflows in context, Vietnam’s GDP in 2017 was worth around $220bn according to the latest data from the International Monetary Fund (IMF).

Vietnam’s economic success is noteworthy as it comes at a time when many developing economies are struggling to match the success of Asia’s earlier ‘tigers’ and sustain rapid economic growth through manufacturing and export booms. India’s export sector for example has laboured in recent years despite a vibrant economy in other respects. By contrast, Vietnam has seen trade soar to nearly 100 percent of GDP; up from around 60 percent in 2005 and 75 percent as recently as 2014.

The foundation of Vietnam’s success is obvious: favourable demographics and low wage rates. Political stability also helps as does the country’s geographical location. Vietnam is also close to major global supply chains, particularly in electronics, which have emerged over the last decade or so.

But these factors are far from specific to Vietnam and so only explain a portion of its success. Recent research from the Brookings Institute think tank in the US highlights that it has been the ability to build on these solid foundations through good policies is what really sets Vietnam apart.

Three factors in particular have been critical. First, while many in the West are questioning the benefits of free trade, Vietnam has zealously pursued trade liberalisation on both a multilateral and bilateral basis. Vietnam, for example, has recently concluded a free trade agreement with the European Union which eliminates nearly all tariffs between the two. Trade agreements have dramatically lowered the external tariffs its exports face, helping integrate Vietnam into the global economy and further accelerating FDI investments.

Second, Vietnam’s investments in human capital i.e. education have been impressive, helping the country maximise its demographic potential. A stand out is that the OECD’s latest Programme for International Student Assessment (PISA), which tests high school students in maths, science and other subjects, ranked Vietnam an impressive 8th out of 72 participating countries; ahead of many leading OECD economies.

Third, investments in human capital have been supported by progress in improving the country’s business climate. Vietnam has steadily moved up in both the World Economic Forum’s competitiveness index and also the World Bank’s ease of doing business survey. Investments in physical infrastructure such as power generation, roads and bridges and container port capacity have been vital in supporting Vietnam’s rich human capital.

Impressive as Vietnam’s recent economic achievements have been, the country cannot afford to rest on its laurels. The very nature of its success brings with it vulnerabilities and future challenges. As already highlighted, FDI has been largely concentrated in the textiles and electronics sectors. The jobs created by these investments tend to be relatively low-skill and low-wage with little value added. This leaves Vietnam exposed to the cross-fire of a US-China trade war (along with Asian other economies enmeshed in the electronics global supply chain such as Taiwan and South Korea) in the short term. Longer-term, Vietnam’s competitive advantage will necessarily fade as the country climbs the development ladder and wage rates and living standards improve.

New drivers of economic development will need to found to ensure that Asia’s newest ‘tiger’ economy does not risk extinction in a few years. There are clear reasons for optimism however. Vietnam’s high PISA scores suggest that the country should be able to move up the global value chain more easily than most emerging markets. Prospects for rapid growth in the service sector are also fair with tourism a prime candidate to help drive economic growth over the longer-term. In fact, with the latest data showing tourist arrivals up nearly 25 percent y/y in June, this growth engine is already helping the country power ahead.

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