World Poker Tour looks to expand into Vietnam

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The World Poker Tour (WPT) is looking to drum up business around Asia and Vietnam. The poker organization is planning a new tournament in Vietnam in September. The event is expected to provide huge payouts to both poker players and tournament organizers.

The WPT will take a 20-day trip through Asia with the help of a newly announced tournament in Vietnam. The event, WPT Vietnam, will be hosted by Ho Chi Minh’s Pro Poker Club and is scheduled to kick off on September 26. It will include a number of tournaments, including a $500 WPT Pro Poker Club Superstack Classic and a $1,000 Main Event. Erik Gibbs reported on CalvinAyre

Danny McDonagh, WPT Live Events Specialist, describes the event as a massive opportunity to satisfy the area’s “tremendous appetite for poker.” The WPT Vietnam will be preceded by a trip to Japan September 15 – 17 and another to South Korea from September 18 – 21. That trip will see the WPT Korea held at the country’s Paradise City Casino September 19 – 21 and will offer a normal lineup with an additional $5,000 team event thrown into the mix.

The team event features a maximum of 16 teams, each with four players. Players will battle it out in six NLHE and Omaha tournaments, with the winning team being awarded four seats at the WPT Korea Main Event. Several teams, including ones from the host country, Singapore, the UK, Australia and the US, have already announced their participation.

Following its Asia visit, the WPT will return to India for the second time. It will hold its second WPT India at the Deltin Royale Casino in Goa beginning November 13 and running through November 19. The WPT expects the event to further develop its presence in the country, one of the fastest growing poker markets in the world. Last year, 527 players participated in the inaugural WPT India leading to the eventual winner, Vijash Mantri, pocketing $92,000.

Poker laws in India are a current source of much controversy. Each state has its own laws, with only some authorizing the game. This could change, though, as there is a push now by the Indian Law Commission to create country-wide standards. Legalizing sports betting, according to the commission, is the only way to control the industry. The ILC recently published a report on the subject, which will now be put to review by legislators.

WPT500 Los Angeles Final Table Results

The final table of the first-ever WPT500 Los Angeles played out in May, 2017, with Dong Le – a Vietnamese oversea emerging victorious to take home the $224,500 top prize in his first WPT event.

1st: Dong Le – $224,500
2nd: Owen Crowe – $130,000
3rd: Peter Hengsakul – $100,000
4th: Richard Tae Kim – $81,000
5th: Ilya Shpiner – $65,000
6th: Deepinder Singh – $49,000
7th: Mike Eskandari – $36,000
8th: Alex Fayneshteyn – $28,000
9th: Greg Roberts – $21,000

Dong Le, a real estate broker for 20 years from Boston, Massachusetts, entered the WPT500 Los Angeles final table third in chips and making the biggest live tournament score of his career. He quickly asserted himself as the table captain, even despite not entering with the chip lead. Le’s aggression was paramount, and it was the key factor in what allowed him to come out on top. WPT reported.

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On July 28th: A longest lunar eclipse of 21st century is able to see in Vietnam

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People in Asia, Europe and Africa can observe the entire phenomenon while other regions can only watch a part of it.

The eclipse will last five hours, from 0:14 a.m. to 6:28 a.m., with the total eclipse extending from 2:30 a.m. to 4:13 a.m in Vietnam.

“This is the longest total eclipse of the 21st century since it lasts 103 minutes,” said Dang Vu Tuan Son, head of Vietnam Astronomy and Cosmology Association.

It is recommended that people arrange to watch the eclipse with binoculars, telescopes or cameras.

This is the second lunar total eclipse of the year. The first happened on January 31, when the Earth witnessed the first blue moon total lunar eclipse in over a century.

After July 28, Vietnamese will have to wait until May 2021 to see another lunar eclipse.

By Pham Huong

Wild weather is battering Vietnam and South-East Asia countries – Here is why

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As heat waves, typhoons and floods devastate nations across South-East Asia, let’s see at why the region has been hit with wild weather

Extreme weather has hammered parts of Asia with deadly flash-flooding and landslides hitting Vietnam, a powerful monsoon battering the Philippines and Japan braving a sweltering heat wave. Riley Morgan reported on SBS.

Tropical storm devastates Vietnam

Storm Son Tinh kills 20, leaves 16 missing in Vietnam @AFP

Tropical storm Son Tinh has killed 20 people, left 16 missing and injured 14 in Vietnam, the country’s rescue committee says.

Floods triggered by heavy rains hit northern Vietnam after Son Tinh made landfall in northern coastal areas on Thursday, while the capital Hanoi was flooded and lashed by torrential rains.

More than 5000 houses were damaged, swept away, submerged or collapsed, around 82,000 hectares of crops were damaged and nearly 17,000 animals were killed nationwide, the Vietnam National Committee for Search and Rescue said in a report on Saturday.

Typhoon winds hit Shanghai

Typhoon Ampil has hit Chinese financial hub Shanghai, bringing heavy rain and disrupting transport and shipping.

More than 600 flights from the city’s two airports were cancelled and high-speed rail services also impacted, state broadcaster CCTV said early Sunday afternoon.

Rains in Shaoxing city. @ AAP

The typhoon first hit the island of Chongming, 45 km east of the city, with winds up to 28 metres per second near its eye, said the National Meteorological Centre.

The city had already relocated 190,000 people from coastal areas by early Sunday morning, according to a report by state news agency Xinhua.

Six killed in Philippine rains

Manila At least six people have been killed in landslides and other accidents in the Philippines following a week of heavy rains brought about by three tropical cyclones.

More than 12,000 people have also been forced to flee homes due to floods, according to the country’s disaster risk management council.

A Filipino navigates through flooded streets in Las Pinas city, south of Manila, Philippines, 18 July 2018. @AAP

Two children, aged three and six, were killed on Sunday when a landslide buried their house while they were sleeping in the town of Barbaza, about 400 kilometres south of Manila, police said.

The victims’ mother was injured in the landslide. On Friday, two brothers, 11 and 12, were killed when a portion of their house was buried in thick mountain soil after a landslide in the town of Agoo in the northern province of La Union, police said.

In the town of Bontoc in Mountain Province, a 54-year-old woman died when a passing van was hit by a boulder during a landslide on Wednesday. A 43-year-old man was swept away by a strong current as he crossed a river in the central province of Negros Oriental on July 15.

Japan heatwave

A continuing heat wave in Japan has led to temperatures as high as 40C, with the casualties climbing up as more deaths were reported.

Public broadcaster NHK reported that until Friday a number of people had been taken to hospital due to heat stroke related symptoms.

The death toll had climbed to 30, after 10 more deaths were reported on Thursday.

Some areas in central Japan registered record high temperatures of 40C, said the Japan Meteorological Agency.

On Friday, temperatures had reached a little above 35C, with the heatwave set to continue over the next few days.

The Tokyo Fire Department reported that rescue teams Thursday responded to more than 3000 emergency calls as the temperatures soared to 40C and 317 people were taken to hospital.

Why is the weather extreme?

University of Melbourne Associate Professor Todd Lane told SBS News the severity of the weather was down to the Madden-Julian Oscillation (MJO).

“This is a mass of cloudy air that essentially forms in the Indian Ocean and moves eastward through the Island regions of Indonesia, Malaysia and the Philippines and then moves into the Pacific Ocean,” Dr Lane told SBS News.

“At the moment it is particularly active so there is a big mass of cloud linked to this Madden-Julian Oscillation event over the Philippines and over the Western Pacific region. So that’s what is causing a lot of the storms in this region and even the tropical cyclones and storms that are moving off to the north to impact China and Japan.”

The MJO is a regularly occurring process and repeats itself every 30 to 60 days. The current MJO event looks likely to decay as it moves towards the Pacific Ocean, according to Dr Lane.

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Vietnam’s state owned enterprises divestment, IPO proceeds to triple in 2018-2020

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As a new wave of public sector reform gets underway, large-caps are seen as attractive ‘buys,’ in the current market correction, says Saigon Securities Inc (SSI).

As the Vietnamese government continues its aggressive public-sector reforms, the total funds raised from IPOs and the divestment of state-owned enterprises (SOEs) may triple in 2018-2020 compared to levels seen in the 2011-2017 period, according to SSI. Finance Asia reports.

The total proceeds from IPOs and the share sale of SOEs in the next two years are expected to reach $26.3 billion, 2.75 times higher than the funds raised for the whole period between 2011 and 2017. Specifically, the value of IPOs will reach $9.7 billion, while the total amount of divestment could hit $16.6 billion. “Vietnam could end up being the only country in the world that embarks on a new wave of SOE reform in 2018-2020, placing large and profitable SOEs on public offer,” says SSI.

Vietnam plans to make the country’s state-run enterprises more compliant with market principles and practices after following the establishment of the State Capital Management Committee in February this year, says SSI. As many as 30 enterprises and economic groups will be transferred to the committee, which will manage the restructuring and sale of any public companies.

Infrastructure Strategy

Proceeds from the divestment of SOE stakes, as well as corporate dividends, are vital funding sources for the government’s infrastructure spending. Vietnam is boosting spending on transport and logistics facilities amid rapid urban growth and domestic consumption. With a projected 2018 GDP growth of 6.7%, it boasts one of the world’s fastest-growing economies. The country’s two stock exchanges — the Hanoi Stock Exchange and the Ho Chi Minh Stock Exchange – have climbed approximately 31% and 48% respectively in the last year.

“We don’t see the stock market valuation to be particularly demanding (2018 PE at 15x), given current high growth prospects,” says SSI. The company says it is generally positive about large-cap stocks across the financial, construction, tourism and retail sectors, adding the manufacturing industry is growing at “torrential” pace. It expects up to 10 banks to comply with the Basel II requirements in 2020, a deadline set by the government’s banking reform 2016-2020 roadmap.

“We expect these banks to start preparing for capital raising,” says SSI. These include Joint Stock Commercial Bank for Foreign Trade of Vietnam, Bank for Investment and Development of Vietnam HD Bank, VP Bank and many more. SSI is keeping watch on the IPOs of Mobifone, retailer SATRA and Saigon Tourist among others.

Foreign investors needed

Foreign participation in public equities is rising steadily in both relative and absolute terms, and currently accounts for about 21% of market capitalisation. In fixed income, foreign investors hold just about 5% of the total outstanding volume of government bonds, says SSI.

The company estimates net earnings growth of 68 companies under its coverage to average 28.7% in 2018, driven by the consumer discretionary and financial sectors.

Supported by Vietnam’s robust economic growth and equity market performance, SSI, which is the country’s biggest securities firm by market value, is targeting VND3,410 billion ($149 million) in revenues and VND1,615 billion in profit for 2018. The company recently won Vietnam’s ‘Best Investment Bank in Vietnam’ and ‘Best Equity Capital Markets House’ in FinanceAsia’s 2018 Country Awards. Going forward, SSI plans to focus on capital growth and diversification.

Expanded Product Base

Notably, the company aims to develop products that suit different risk and reward profiles and expand its activities in corporate bonds, derivatives and structured products. With numerous SOEs expected to sell shares as well as an attractive pipeline of IPO activities this year, SSI has been focusing on “expanding its customer base to include large-scale private enterprises with potential growth prospects in key sectors,” says SSI.

Looking beyond 2020, SSI expects the country’s sovereign rating to be upgraded to Investment grade. “We are positive that the reforms will show good results.”

Death toll in Vietnam flooding rises to 20

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Flash floods after Typhoon Son Tinh in Vietnam have now claimed at least 20 lives, the government said on Sunday (Jul 22), as residents in affected areas sought safety in higher ground.

Boasting a long coastline, tropical Vietnam is battered by floods and storms every year, with hundreds of lives lost from the annual monsoon barrage.

The remnants of Typhoon Son Tinh, now a tropical depression, made landfall Wednesday night, the third tropical storm to hit Vietnam since the start of the year.

The latest report from the country’s disaster office said 19 people have been killed so far, with an additional 13 people unaccounted for.

Floods and landslide from heavy rains have ranged far and wide and impacted rural and urban areas, including the capital Hanoi.

They are expected to continue in the coming days.

State-controlled VNExpress news site reported Saturday that residents in Chuong My district on the outskirts of Hanoi were asked to leave their homes and get to higher ground for fear of heavy floods.

“We must be active in moving our furniture out of homes. From last year’s experience, we did not have time to run,” a local resident was quoted as saying.

Published photos showed homeowners in plastic raincosts moving bags of goods and livestock.

“My house is in a very low location so I have to move all the rice to higher places,” resident Nguyen Duy Dong told VNExpress. “Since the afternoon, we have moved more than one tonne of rice.”

The amount of land under seige has also spiked, with more than 15,000 houses damaged or destroyed and more than 110,000 hectares of crops inundated. Several roads have also disappeared under the water.

Vietnam’s rainy season, like other countries in the region, is between June and November, but the death toll from stormy weather has often exceeded its neighbors.

Last year, 389 lives were claimed by natural disasters, with material damages reportedly reaching US$2.6 billion, according to the government.

5 million Vietnamese will lose jobs in the 4.0 industrial revolution?

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The risk of losing jobs has increased in the 4.0 industry revolution era.

Tran Anh Tuan, deputy director of the HCMC Center for Human Resources Forecasting and Labor Market Information said.

Vietnam has been warned that 5 million jobs may be lost by 2020 as it has a 3.79/10 score for the quality of the labor force, ranked 11th out of 12 countries in Asia, and a 4.3/10 score in human resources competitiveness index. Chi Mai reported on Vietnamnet.

Other indicators for Vietnamese workers are also low. Only 20.3 percent of Vietnamese workers had training or degrees/certificates in 2015. Vietnamese are weak at soft skills, such as foreign language, IT, teamwork, communication, and professional ethics.

It is expected that 56 percent of workers in five South East Asian countries, including Vietnam, may lose their jobs because of robots.

Other indicators for Vietnamese workers are also low. Only 20.3 percent of Vietnamese workers had training or degrees/certificates in 2015. Vietnamese are weak at soft skills, such as foreign language, IT, teamwork, communication, and professional ethics.

The ILO report also pointed out that 86 percent of workers in the textile & garment industry in Vietnam, 64 percent in Indonesia and 88 percent in Cambodia will face the risk of losing jobs in the context of growing automation.

The early warnings about the appearance of robots which would replace people in production lines were ignored by Vietnamese. They thought that robots could exist only in foreign factories, not in Vietnam, where manufacturers are not rich enough to buy robots.

But more robots have appeared at Vietnam’s manufacturing workshops.

Pham Van Viet, general director of VitaJean, said modern machines are expected to replace 60-80 percent of workers. The modernization has allowed the company to cut staff from 1,800 to 1,250 and then to 800.

“In the future, we will retain 450 high-quality workers only,” Viet said, adding that the installation of the automatic production line is scheduled to be completed by 2019.

It would allow VitaJean to cut production costs by 20 percent. The company plans to take back investment capital after five years.

Namilux, a gas cooker manufacturer, has been automating its production line for the last six to seven years. With the new production line, two workers can handle the workload of eight workers.

Namilux’s general director Nguyen Manh Dung said enterprises can cut the labor cost by three to four times, while the figure could be 10 times in some industries.

Vu Quang Tho from the Vietnam Labor Federation said Vietnam needs to begin applying measures to support workers now. He suggested that enterprises, especially foreign invested ones, make commitments about the number of workers they will use.

Vietnam PM visits Formosa Ha Tinh Steel in central Vietnam, commends Taiwanese company for environmental reforms

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Formosa Ha Tinh Steel resolves 52 of 53 faults after environmental calamity in 2016

According to a report by Scott Morgan on Taiwan News, Vietnam Prime Minister Nguyen Xuan Phuc visited Taiwanese-owned steel plant, Formosa Ha Tinh Steel (台塑河靜鋼鐵公司) in Ha Tinh province, Central Vietnam on July 20, commending the company for its environmental reforms after the company was reprimanded poor environmental processes in 2016, reported Vietnam Plus.

Phuc inspected wastewater treatment and manufacturing process at the steel plant and re-affirmed Vietnam’s commitment for local and foreign investment.

Toxic discharges from the steel plant were responsible for an estimated 70 tons of dead fish, damaging tourism and fishing in four provinces, leading to protests.

Formosa Ha Tinh Steel admitted it was responsible for the environmental calamity and pledged US$500 million to clean up the environment and compensate those affected.

Phuc last visited the steel plant’s wastewater management systems, steel refining units and reviewed data about the surrounding environmental health, according to Vietnam Plus.

The Prime Minister commended the company for fixing 52 of 53 found faults, and its efforts to improve organizational transparency, as well as their social programs like housing for workers and scholarships. Phuc also commended the company for the success of its steel plant, one of the largest foreign investments in Vietnam.

Phuc also praised local governments and the people for overcoming the stress and ill-health caused by the toxic discharge.

Formosa Ha Tinh Steel was also asked to continue to learn from the incident and to keep the impact of their actions front of mind. Phuc added that the company would be strictly dealt with if it broke the law again.

Eight-month baby dies after Tibetan Mastiff attack in Hanoi

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HÀ NỘI — An eight-month old baby girl has died two hours after being bitten by a 40-kg Tibetan Mastiff dog on Thursday afternoon at a home on Hanoi’s Doi Can Street.

According to Vietnamnews, the dog was raised as a family pet. The incident occurred when the baby’s mother was cleaning and the baby was playing nearby. Without warning, the dog attacked the infant. The mother tried to stop the dog but failed.

The baby was taken to the Vietnam – Germany Hospital in critical condition, the Voice of Vietnam (VoV) online newspaper reported.

Lê Việt Khánh, deputy head of the hospital’s Gastrointestinal Emergencies Department said the child was pale and suffering severe blood loss when she was hospitalised. She also had multiple head injuries.

“At that time, we already recorded her blood pressure at zero without feeling her blood vessels,” he said.

After trying for two hours, doctors failed to save the child.

Khánh added that families should not allow their children near dangerous dogs to avoid heart-breaking accidents.

According to doctors, if children are bitten by dogs, they need first aid and to stop the bleeding. They should then be taken to the nearest health clinic for treatment.

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Positive Outlook for European Business in Vietnam

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According to the recent EuroCham’s Business Climate Index (BCI), European companies continue to remain optimistic about Vietnam’s business environment as well as the EU-Vietnam Free Trade Agreement (EVFTA) which will come into effect in 2019.

The BCI for the first quarter of 2018 rose by one point compared to the last quarter of 2017, to 78 points. The BCI measures the business sentiments among European firms having a presence in Vietnam through surveys.

Business situation

European firms operating in Vietnam have historically been fairly positive about the business environment in Vietnam. Respondents who rated the current business environment as “excellent” reduced by 10 percent in Q1 of 2018 compared to Q4 of 2017. However, the percentage who rated the business environment as “good” grew by seven percent. Negative responses stayed at almost the same levels as Q4 of 2017.

Business outlook

With respect to Q2 of 2018, business sentiments remain positive. Respondents who replied “excellent” dropped 11 percent, while ones who rated it as “very poor” increased by one percent. Overall, 69 percent of the respondents rated the business outlook as positive.

Macroeconomic outlook

The macroeconomic outlook among European firms continue to remain positive, with 55 percent of the respondents confident in the macroeconomic situation, nine percent higher compared to the previous quarter.

The percentage of respondents who believe that the macromonomeric situation could deteriorate stayed at the same level, while ones who do not expect any changes decreased by 10 percent.

Impact of inflation

For European firms, inflation did not seem to be a major issue, with 65 percent of the respondents stating that inflation will only have a “minor impact”, while 19 percent believed that it will have “no impact” on their operations.

Around 17 percent of the respondents believed that it may have “significant impact” on their operations.

Hiring

Around 40 percent of the European firms expect to retain their workforce, same as Q4 of 2017, while 12 percent expect to “significantly increase” their workforce and 41 percent will hire reasonably.

Companies looking to reduce workforce dropped from 10 percent in Q4 of 2017 to only five percent in Q1 of 2018, while ones who are planning to significantly reduce workforce accounted for two percent of the respondents.

Investment

EuroCham members who plan to maintain their investments accounted for 45 percent of the responses, a nine percent growth compared to the previous quarter. There was a drop of seven percent in the percentage of respondents planning on “significantly increasing” their investments and an 11 percent growth in respondents thinking of increasing their investments moderately.

Regulatory environment

The survey also included a question about the development of the regulatory situation in Vietnam in 2017. Around 37 percent of the respondents believed that there was no change compared to previous years, while 16 percent said that it has become “slightly complicated”. Almost a fifth (18 percent) of the respondents stated that the previous year’s regulations made their operations “significantly more complicated”.

A quarter of the respondents agreed that the situation has slightly improved while two percent believed that there has been a significant improvement compared to previous years.

EU Vietnam relations

As of 2017, 24 of the 28 EU nations have invested in Vietnam in 2,000 projects with total registered capital reaching US$21.5 billion. Industry, construction, and services were the major sectors that attracted EU capital.

Bilateral trade has increased from US$4.1 billion in 2000 to US$50.4 billion in 2017. Vietnamese exports increased from US$2.8 billion to US$38.3 billion, while imports increased from US$1.3 billion to US$12.3 billion during the same period.

Machinery, footwear, textiles, and agricultural products are the major Vietnamese exports, while machinery, transport equipment, chemicals, and animal products account for the majority of Vietnamese imports from EU.

EU Vietnam FTA

The EU Vietnam FTA, expected to be ratified this year will have a significant impact on Vietnam’s economy. By 2020, Vietnam’s GDP is forecast to grow by US$3.2 billion, and by US$6.7 billion by 2025 due to the FTA. Sectors such as garments, footwear, textiles, agricultural products, machinery, and automobiles will benefit the most compared to other sectors.

The FTA is expected to attract higher investments not only from EU but also from European firms pursuing the China+1 strategy to diversify their operations in Southeast Asia. Vietnam will act as a gateway for European goods in Southeast Asia and may motivate EU to sign a trade agreement with ASEAN in the future. Going forward, Vietnam should continue to focus on reforming its legal framework in accordance with the FTA commitments to fully realize the benefits of the agreement.

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Typhoon Son-Tinh has killed 10 and 21 still missing in Vietnam

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Although now downgraded to a tropical depression, Typhoon Son-Tinh has killed at least 10 people in Vietnam, with at least 21 still missing.

Typhoon Son-Tinh has killed 10 and left 21 missing after hitting north-central Vietnam, authorities say.

The dead included six in Yen Bai province and four in Thanh Hoa, the National Committee for Search and Rescue said in a report, adding that 18 people remained missing in Yen Bai, two in Thanh Hoa and one in Son La province.

Among the dead and missing is a family of four who were swept away by flooding in Thanh Hoa province, with two reported dead and two missing.

Son-Tinh made landfall in Ha Tinh and Nghe An province on Wednesday night. Wind speeds have been recorded at 75-90km/h, the National Centre for Hydro-Meteorological Forecasting reported.
North-central Vietnam has already experienced rainfall of up to 464 millimetres for the past three days.

Nearly 1000 houses were partly damaged or destroyed, while another 1000 were submerged, the Steering Committee for Natural Disaster Prevention said.

The typhoon was downgraded to a tropical depression Thursday morning as it headed toward Laos.
Authorities have warned of flash floods and landslides following the typhoon as heavy rain is forecasted for the entire north and central region through Friday night.

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The State Bank of Vietnam to suspend import of crypto mining hardware

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The Vietnamese central bank, the State Bank of Vietnam (SBV) announced it will suspend the import of cryptocurrency mining hardware, according to local news agency Viet Nam News July 19.

The move followed an official request from the Ministry of Industry and Trade (MoIT), which suggested a temporary ban of imports of crypto mining machines, the volume of which reportedly amounted to 15,600 units from 2017 to April 2018. Most of the units were imported through Hanoi, Ho Chi Minh City, and Da Nang. Helen Partz reported on CoinTelegraph

Deputy Prime Minister Trinh Dinh Dung had previously directed the MoIT, the SBV, and the Ministry of Finance (MoF), to study the import of cryptocurrency miners based on current regulations, and provide guidance on their management.

According to Viet Nam News, the suspension is supposed to improve the management of currency flows in Vietnam, since the use of crypto mining equipment in the country makes it more complicated. The temporary ban also intends to prevent the use of cryptocurrency as an alternative means of payment outside of the official currency, which was declared illegal in late 2017.

Vietnam’s Ministry of Finance (MoF) proposed a temporary temporary ban on crypto mining hardware imports in early June, citing the “very difficult” process of regulating newly mined digital currencies. By proposing so, the MoF aims to protect citizens from crypto scams, following an alleged $660 million scam in April. The scam involved two Initial Coin Offering (ICO) projects headed by a Vietnam-based outfit.

In May, the Hanoi Department of Industry and Trade prohibited institutions and retail entrepreneurs in the e-commerce field from using Bitcoin (BTC) and other cryptocurrencies to carry out online transactions.

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JobSreet outlook report: Key Winning Strategies to gear up for a robust job market

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JobStreet.com powered by Jora just held a Press Conference about “Key Winning Strategies to gear up for a robust job market outlook 2018” in Ho Chi Minh City, Vietnam.

At the Conference, the Press had a chance to meet and greet with Ms. Angie Phang – Group Regional Sales & Operation Director, SEEK Asia & Country Manager of JobStreet.com; Ms. Nguyen Thi Thu Trang – Country Head of Operations and Ms. Le Thi Huyen Anh – Head of Sales of JobStreet.com powered by Jora. The Conference revolved three important topics:

– Hiring expansion growth has ignited greater competition in talent acquisition in Vietnam

– Online platform empowers candidates to select a vast range of job opportunities at their finger tips

– Key winning strategies to gear up for Vietnam job market outlook with a candidate – driven market

Key winning strategies to gear up for Vietnam job market outlook 2018

Based on the exclusive survey “Job Outlook Report 2018” by SEEK Asia, hiring expansion remains robust though not as phenomenal as 2017. According to the survey, the number of hirers plans to expand business rises to 50% (18% lesser than that of 2017), meanwhile, 10% said that they will maintain the hiring rate in 2018. Additionally, the number of newly established and registered capital increased by 3 times comparing 2018 versus 2014, according to the report from Ministry of Planning and Investment. This is a fact that influx growth of start-ups and foreign companies entails candidate more choices. This will be a challenge for the candidates because of alignment with the dynamic of recruitment market, the technology evolution has also created new job titles and requirements of cross-category skills and competencies in the roles.

Angie Phang – Group Regional Sales & Operation Director, SEEK Asia & Country Manager of JobStreet.com

With the overall market data, JobStreet.com powered by Jora see the growth of candidate attraction to the job opportunities at Foreign Company increase by 10 times in 2018 versus 2017, and higher than local companies. And the candidates still prefer online job portals to apply or scan and monitor for new job opportunities with the higher score in 2018 versus 2017. This reflects by the on-going increasing of visit to our website after we centralized most of job opportunities in the market since September 2017. In addition, the competition in applying top desired jobs has increased with the lower score from Candidates when they are asked about “Is applying good job easier versus 2017?” Furthermore, the job market is expected to be diversified with new types of skills and jobs, while the competition in their field will become tougher. Based on our Job Happiness Index Report, we were fully updated which factors will impact to attract and retain Candidates, which are not just Salary or Position Title. The development of technology, as well as the number of companies and candidates, lead to the fact that the recruitment industry is no longer a Hirer but Candidate-driven market.

Key factors which impact to attract and retain Candidates @JobStreet.com

In contrast to Regional scenario, Hirers and Candidates in Vietnam see the market which is not brighter than 2017. However, the number of jobs across the region including Vietnam have still increased dramatically hence increase competition in acquiring and retaining talents. And same as Vietnam, there is regional most desired but least offered benefit, which is Medical coverage for family. Transportation plan and housing rental allowance are desired at Vietnam while Flexible working hours and Childcare support are desired at other countries across region. For the monetary payout, Junior and Supervisor position in Vietnam gets higher salary increment as well as guaranteed bonus payout, hence increases the candidate job monitoring activities for better opportunities.
With the discrepancy of Vietnam scenario versus Regional, together with the dynamic recruitment market, an Innovative platform must be utilized for a talent acquisition and retention strategies. The technology must be in place to have the continuously updated candidate analytics. Also, cross-nation insight should be in use for solving the puzzle of recruiting top talents.

About Jobstreet.com powered by Jora

JobStreet.com (JobStreet.vn) is a job portal found in 1997 and now is the number one’s online job advertising company in Southeast Asia with more than 10 offices across Singapore, Malaysia, Indonesia, Thailand, Philippines and Vietnam. Since November 2014, JobStreet.com has been a proud member of SEEK Limited – the world’s largest digital recruitment network. With the support from SEEK, JobStreet.com is currently serving over 260,000 corporate customers and 19,000,000 jobseekers.

Jora is an Australia-based search engine for jobs with the presence in more than 32 countries in the world including Vietnam. Unlike traditional job boards, users can search through hundred thousands of career opportunities, all sourced from many job sites from around Vietnam. We understand that finding a job can be quite frustrating, so we aim to make the website as simple and as intuitive as possible. Jora was founded by Cuong Hoang in 2012 and funded by SEEK in 2013 for global expansion.

Since the first launched in September 2017, JobStreet.com powered by Jora has become a pioneer in Vietnam Recruitment industry. Three months after the launching, this online portal attracted dramatically traffic, from 1.3 million to 2.7 million, and in last March, JobStreet.com powered by Jora set a new peak and reached 4.9 million traffic. Those are the optimistic sign for the right policy of JobStreet.com powered by Jora as well as prove the pioneer position of JobStreet.com.

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VDSC: Vietnam Stock Market Weekly Recap -SCR, MCH

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The third week of the second half of 2018 has shown a remarkable shift from the last fourteen weeks prior. Excluding today, the market had ended positive for the last six trading sessions. With Wednesday the 18th having a +2.29% gain, contrasted to 13 weeks of at least one day falling -2%. It’s a pleasant change to see a week of straight market recovery albeit small. And it does give a boost to dampened spirits and sentiments.

The market ended the week at 933.39. It closed significantly higher by +2.61% week over week. Volumes have made a noticeable recover trading about VND3.3trn (USD143mn) daily. A rough 40% improvement week over week when we were seeing liquidity dry up to below USD100mn daily.

As companies start reporting their Q2 earnings, we are getting early indications that results are in-line with expectations (which is a relatively positive sign).

Also, today was the last day for the rebalancing of the E1VFVN30 ETF to comply with the new change in the VN30 index (which will be valid next Monday). So, many orders were added in the ATC session.

Finally, part of the positive sentiment can be attributed to large asset managers believe that the recent pull back in Emerging and Frontier markets has been excessive. The world’s largest asset managers such as BlackRock and Franklin Templeton Investments stated that over USD7 trillion in stocks slid into bear territory. Strategists are saying that cheap prices, rising corporate profits and strong fundamentals will outweigh risks from a tit-for-tat trade war, rising interest rates and a potential US recession.

The view has been that E&FM assets offer a combination of a global growth backdrop, decent earnings expectations for corporations and valuations. However this bullish view has been in the minority. Pessimism towards E&FM stocks have hit their highest level in 23 years stated BAML Risk-Love indicator. BAML strategists said that it’s “normally a sign to increase exposure” rather than to “reduce it” as long as it doesn’t coincide with a recession. A further herald to buy the market has been by Franklin Templeton stating that recent headwinds such as trade war tensions or a stronger dollar shouldn’t derail stocks much longer.

Additional tidbits worth noting

1) Developing and emerging markets stocks have rallied an average of 32% in the 12 months after their deepest drawdown of the year according to data compiled by SunTrust Private Wealth. So what does that mean for Vietnam? If we call 900 as the near term bottom, then 32% up from there would means that the VNIndex could possibly rally by year-end back to 1200.

2) Weekly outflows from emerging-market debt funds hit the lowest since the U.S. election in the week ending June 27, according to EPFR Global data. (The last three redemptions of that magnitude or greater preceded rallies in developing-nation dollar bonds during the next three months.)

3) If the past decade is any guide, dollar strength isn’t likely to prove a headwind for emerging/frontier market assets much longer. Sharp rallies in the greenback have typically lasted three to eight months and rarely exceed a year. The latest one is five months deep. (Source:Bloomberg).

Rong Viet Securities Equity Research Summary

Sai Gon Thuong Tin Real Estate JSC (HoSE: SCR) – Robust Apartment Sales to Boost Revenue

TTC Land is a real estate developer, owning a 1,799 hectare land bank. The company is planning to expand its business with industrial parks and tourism.

The company is planning increase its current charter capital by more than 67% in 1Q19 in order to support M&A activities. Share issuance for current shareholders will be prioritized.

TTC Land expects to sell nearly 3,000 units of apartments/villas/land lots in 2018. Major contribution will come from sales from Charmington Iris, which was first launched in 2Q18. Sale was recorded smoothly in 6M 2018 thanks to longstanding experience and TTC Land’s brand names. We see this as important factors to boost the company’s sales in 2018.

Masan Consumer Corporation (UPCoM: MCH) – Positive Growth thanks to Premium Products

Thanks to catching up the trend of FMCG through the “premiumization” of its core portfolio, MCH recorded a remarkable growth rate of 78% in 1Q18, also its revenue is expected to be VND7.646tn (USD333.88mn) (+39% YoY) in 1H18.

Although the growth of FMCG in the 1st five month of 2018 has been slowdown in both urban (+3.8%) and rural (+4.3%) according to Kantar Worldpanel.

In the 2H18, MCH will continue to launch its new innovation pipeline of core portfolio, seasoning and convenience foods.

MCH has signed strategic partnership with Jinju Ham – a leading Korean meat processing company with more than 30 years of experience, owns the lead research and development platform, an important step for MCH to penetrate into the potential meat processing market.

By Marc Djandji, CFA

Head of Institutional Sales, Rong Viet Securities (VDSC) | marc.djandji@vdsc.com.vn

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Chinese goods, labeled as Korean or Japanese, flood Vietnam

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More than 99 percent of goods available at Mumuso shops are made-in-China products, while other retail brands such as Miniso, Daiso and Yoyso are also selling products made in China.

The Ministry of Industry and Trade (MOIT) announced its conclusions after an inspection tour to Mumuso, registered as a retail brand from South Korea – Mai Thanh reported in Vietnamnet

Meanwhile, consumers said that a lot of other retail brands such as Miniso, Daiso, Yoyoso and Minigood are also selling Chinese products, though their brand identifications are similar to Japanese and South Korean goods.

At Miniso, the words ‘Japanese designer brand’ on products appears. There is information in English, Japanese and Chinese as well. However, most of the products are made in China.

The products available are not expensive. They don’t sell food, but focus on cosmetics, healthcare products, digital accessories and household use products. Regarding the origin of products, most of them are from China. The selling prices are mostly below VND100,000. 

Analysts commented that Miniso shops are similar to Mumuso shops where MOIT has found that the majority of products there are made in China. The similarities can be seen in the shop design, the way of displaying products, range of products, and service style.

Miniso has 13 shops in Hanoi and 14 in HCM City. Other shops are located in Nam Dinh, Bac Giang, Can Tho and Ba Ria – Vung Tau.

Yoyoso and Minigood are the two retail brands with the same style. The former sells cosmetics, gifts, household goods, and digital accessories, while the latter sells products similar to Mumuso’s. And the majority of products available there are made in China.

The words ‘Daiso Japan – Tat ca san pham nhap khau tu Nhat Ban’ (Daiso Japan – all the products are imports from Japan) can be seen at all Daiso shops. However, it is not difficult for consumers to find a lot of products made in China.

Analysts said the retail chains bearing Japanese and Korean styles but selling Chinese products, have been increasing in Vietnam. The chains are strangely similar to each other.

The shops of the chains are all situated in advantageous positions and are decorated in accordance with Korean or Japanese style to more easily lure customers.

Regarding brand recognition, logos of the brands are nearly the same. Some customers commented that Ministop’s logo is similar to Uniqlo’s, a Japanese fashion brand.

Meanwhile, a series of other brands show signs of imitating Miniso’s brand.

The products available are not expensive. They don’t sell food, but focus on cosmetics, healthcare products, digital accessories and household use products. Regarding the origin of products, most of them are from China. The selling prices are mostly below VND100,000.

Minister urges hastened inspection of national high school exam cheating

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Minister of Education and Training Phung Xuan Nha has emphasised the acceleration of clarifying abnormal results of the national high school examination in the northern mountainous provinces Ha Giang, Son La and Lang Son.

Speaking at a meeting on July 19, Nha stressed that every person found to have violated regulations would be strictly punished, saying the Ha Giang scandal is a ‘wake-up call’ to all test organisers – Vietnamnet reports

He added that over the past four years, the new format of the high school examination has been improved in many aspects, helping reduce pressure and save time and costs for students, their families and the whole of society.

Although technical aspects of the exam have been getting better, the “human factor is still the decisive element.”

“If the people involved in the process are not of pure integrity, then such unfortunate incidents could still happen no matter how modern the grading system has become,” the minister said.

“We are resolved to give justice to students and regain public trust in the exam,” he noted.

The results of the national high school examination, which determine whether students can enter universities and were released on July 11, showed suspicious signs as the rate of good scores in Ha Giang was unusually high compared with previous years and other localities that traditionally do better.

On July 13, the Authority of Examination and Quality Management under the Ministry of Education and Training (MoET) decided to set up an inspection team.

The inspection revealed that 330 multiple-choice tests of 114 students in Ha Giang were adjusted up by more than 1.0 points each. One examiner has confessed his role in the cheating scandal.

The investigation bureau of the Ha Giang police on July 19 started criminal proceedings into the exam cheating scandal in the province.

On July 18, Nha also established two inspection teams to clarify test results in Son La and Lang Son.

On July 19, the inspection team led by Mai Van Trinh, head of the Authority of Examination and Quality Management, had a working session with representatives from the Son La provincial Department of Education and Training.

The test sheets were re-graded on July 19 night and the results are expected to be announced soon.

According to statistics, Son La recorded the lowest average score for all six subjects in the high school examination. However, the rate of students scoring nine and above in the maths and physics tests was much higher than other localities with a history of good scores.