Vietnam Insider - Page 1362 of 1522

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.

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.

Hanoi rejects Red River cable project

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The authorities in Hanoi have turned down a proposal to build a cable car system across the Red River.

Ngo Manh Tuan, deputy head of the Department of Transport, said on July 19 that they had submitted a report about the project to the Hanoi People’s Committee. According to Tuan, the project does not suit the city’s urban planning. The city construction and transportation plans also don’t have any cable system projects – Dtinews reports

Moreover, the cable route coincides with the urban railway line 1 route which will affect the cityscape.

Several experts also opposed the project. Bui Danh Lien, deputy head of Hanoi Transport Association, said to VNExpress that the project’s goal was to reduce congestion across the Red River but it was impossible since it could transport a maximum of only 7,000 passengers every hour.

Investment and maintenance costs will make it more costly than going by bus. Lien said the cable system was not suitable as public transport.

The cable car was proposed by the Poma Group, a French ropeway transportation firm, and would have connected Long Bien Bus Station in Hoan Kiem District with Gia Lam Bus Station in Long Bien across the Red River.

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Top 10 Must Visit Towns in Vietnam

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Vietnam immediately captivates travelers with its rich heritage and striking natural beauty. Bordered by mountains and the South China Sea on the west, with the deltas of the Red River and the Mekong set towards the country’s north and south ends, Vietnam’s diverse landscape encompasses white-sand beaches, enchanting rice paddies, and lush jungles. Here are some of the most beautiful towns you need to see in this fascinating country.

Hoi An

Hoi An is a UNESCO World Heritage Site and one of Vietnam’s most important tourist destinations. With wonderful cuisine, intriguing history, and irresistible charm, Hoi An best matches many travelers’ ideal visions of Vietnam. A major port between the 16th and 18th centuries, the town owes its beauty to a unique combination of Chinese, Japanese, and European influences. Small enough to explore on foot, Hoi An’s lantern-lit streets are dotted with Chinese temples, lively food markets, and wooden-fronted shophouses. Galleries selling local artwork and laid-back open-air cafes add a charming, bohemian element.

Hoi An, Quang Nam Province, Vietnam

UNESCO world heritage. Hoi An is one of the most popular destinations in Vietnam | © P. Kamput / Shutterstock

Mui Ne

Once a sleepy fishing village, Mui Ne is now a favorite weekend getaway destination for expats living in nearby Ho Chi Minh City. Despite its increasing popularity with tourists, the town retains an invitingly low-key atmosphere. Its nine mile beach is lined with low-rise resorts, restaurants, and shops. The bay is a well-known hot spot for wind and kite surfing, thanks to wind levels that are relatively consistent throughout the year. If you need a break from the beach, take a tour of the surrounding sand dunes. These dunes actually help create the town’s pleasant microclimate, causing rainfall to be relatively minimal even during the country’s wet season.

Mui Ne, Bình Thuận Province, Vietnam

Fishermen in the morning at the beach in Mui Ne | © Catwalk Photos / Shutterstock

Dalat

Set at an altitude of 1,500 meters, Dalat offers year-round cool weather and serene mountain scenery. This quaint town was once a favorite retreat of Vietnamese emperors and French colonials eager to escape the country’s summer heat. These European influences are still noticeable in the French colonial architecture found in the town’s central area, where the streets are lined with red-roofed stone buildings. With lovely churches, markets, winding streets, and colorful gardens, the town is a wonderful place for strolling. The surrounding area offers lakes, forests, and waterfalls, perfect for trekking, biking, and rock-climbing.

Dalat, Lam Dong Province, Vietnam

Buddhist temple in surroundings of Dalat | © Alexandr Medvedkov / Shutterstock

Nha Trang

Nha Trang is one of Vietnam’s most popular seaside resort towns, home to some of the country’s top beaches and dive sites. The town’s six kilometer, crescent-shaped beach is set against a picturesque mountain backdrop. Aside from soft sands, the shoreline offers a pleasant promenade, sculpture parks, and scenic gardens. Dozens of local companies offer day-trips to the more than 20 islands found just off the coast, where you can enjoy hiking and snorkeling. Towards the center of town, you’ll find some fantastic restaurants as well as the centuries-old Po Nagar Cham Temple.

Nha Trang, Khanh Hoa Province, Vietnam

Sunset at Nha Trang, Vietnam | © Iuliia Iuzeeva / Shutterstock

Can Tho

The largest town in the Mekong Delta, Can Tho sits at the meeting point of several different waterways. It’s an ideal base for visiting the nearby floating markets, with canals and rivers filled with an astonishing variety of boats and ships. Can Tho’s lovely riverfront is lined with sculpture gardens and some of the region’s best restaurants. The backstreets give rise to a few unique temples and a buzzing night market, plus a short trip outside town will bring you to beautiful countryside landscapes covered with rice fields.

Can Tho, Can Tho Province, Vietnam

Ninh Kieu night market on the south of Vietnam full of lights | © Nina Lishchuk / Shutterstock

Sapa

One of northern Vietnam’s most well-known tourist destinations, Sapa is set in a magnificent location on the western edge of a high plateau. The town overlooks a beguiling scene of mountains and rice terraces, often shrouded in mist. It’s a popular base for trekking in the Hoang Lien Son Mountains, as well as for exploring rice paddies and minority villages. Sapa has been a gathering place for local hill tribes for hundreds of years. Although the increasing number of tourists visiting the town’s market has altered the atmosphere somewhat, hill-tribe people still come here to sell handicrafts and traditional clothing.

Sapa, Lao Cai Province, Vietnam

Children standing on the porch of a traditional wooden house. | © Marvin Minder / Shutterstock

Vung Tau

Located 120 kilometers south of Ho Chi Minh City, Vung Tau is a popular beach destination for locals and expats looking to escape the city. Set in a gorgeous location on a peninsula, with ocean on three sides, the town is pleasantly scruffy with wide boulevards and grand colonial-era buildings. The boardwalk along Bai Sau, along known as Back Beach, is attractively lined with seafood restaurants and shops. The town has a fairly large population of Christians, accounting for the unusual statue of Jesus set towards the north, a smaller version of Rio de Janeiro’s Christ the Redeemer.

Vung Tau, Ba Ria–Vung Tau Province, Vietnam

Vung Tau is a famous coastal city in the South of Vietnam | © Pham Duy Thien / Shutterstock

Chau Doc

Set at a meeting point of a tributary linking the Bassac and Mekong Rivers and the Bassac River itself, Chau Doc is the closest large town to the Vietnamese-Cambodian border crossing. Locals are known for being especially friendly with the town’s pastel-colored shop fronts adding to its already-cheerful ambiance. With large Khmer, Cham, and Chinese communities, the town is also interesting from a cultural perspective. Check out the vibrant main market, and then wander along the pretty waterfront promenade nearby. Take the ferry across the river to visit Chau Doc’s largest mosque.

Chau Doc, An Giang Province, Vietnam

Chau Doc city by night | © Le Tu / Shutterstock

Bac Ha

A popular day-trip from Sapa, Bac Ha also serves as a more low-key base for exploring the country’s northern highlands and hill tribe villages. Set at 1,200 meters above sea level, the town is fringed by cone-shaped mountains. This quiet town comes to life on Sundays when ethnic-minority villagers such as the Dao, Flower H’mong, Tay, Nung, and Giay, come to the town for its bustling market. Everything from textiles and handbags to livestock is bought, sold, and traded. On many days, Flower H’mong singers perform captivating songs to entertain market-goers.

Bac Ha, Lao Cai Province, Vietnam

Rice field in valley around with mountain panorama view in Bac Son valley, Lang Son, Vietnam | © Chanwit Whanset / Shutterstock

Hue

A UNESCO World Heritage Site, Hue was Vietnam’s Imperial City and later the capital of the country’s Nguyen emperors. Although the town was devastated by wars with the French and the Americans in the 19th and 20th centuries, it’s still filled with enthralling tombs, temples, and palaces. The Perfume River (Song Huong) winds through the city, with the Forbidden City looming over its north bank. Dating back to the early 19th century, this citadel stretches for three miles along the town’s waterfront. The Perfume River itself is delightfully atmospheric, dotted with houseboats, long-tail vessels, and dragon boats.

Hue, Thừa Thiên-Huế Province, Vietnam

Hue Imperial, a walled fortress and palace in the city of Hue | © Anna Africa / Shutterstock

By Jessica Dawdy, The Culture Trip

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Wearing a tie could be making you ill, according to scientists

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According to a recent study, wearing a tie can reduce blood flow to the brain by 7.5%.

Sporting a tie can also raise the intraocular eye pressure, increasing your risk of glaucoma and cataracts.

Doctors’ ties have also been shown to be breeding grounds for pathogens in hospitals, where infections can easily be spread.

Synonymous with professionalism, it’s widely accepted that ties are a mandatory (if not slightly uncomfortable) component of workplace attire.

Many — like Richard Branson, who described the suit and tie as an ” anachronism”— can attest to the fact that ties serve little functional purpose, but few would think a seemingly innocuous item of clothing could damage your health, until now.

Far from the smart image ties have had before, scientists at Kiel University Hospital have recently described the act of wearing a tie as “socially desirable strangulation” — as a study published in New Scientist investigated how ties affect blood flow to the brain, and the results weren’t good.

Wearing a tie results in a significant dip in blood flow to the brain

In the study, 15 men wearing ties and 15 men without were scanned using MRI to measure the blood flow to the head. The researchers found that the brains of tie-wearers were, on average, receiving 7.5% less “cerebral blood flow” than the brains of those subjects within the control group.

The scientists attributed the lower blood flow to the narrowing of the carotid arteries, which carry blood away from the heart, under the pressure of the tie.

While a 7.5% reduction in blood flow may not appear substantial enough to cause noticeable health problems, people who already suffer with other health issues should be cautious: whether you have high blood pressure, are a pensioner or a smoker, you could end up suffering with headaches, dizziness, and nausea if you wear a tie for too long.

Ties may raise the risk of glaucoma, cataracts and other injuries

Kiel’s study is far from the first to investigate the effects of ties on the head; according to research published in The British Journal of Ophthalmology, wearing a tie can restrict the blood flow through the jugular vein as well as through the carotid arteries.

This restriction can end up causing a backup of blood along the system to the eye, thus raising eye pressure. Raised intraocular eye pressure is considered a risk factor for glaucoma and cataracts, and could possibly increase the risk of worsening existing glaucoma, according to the study.

Ties can raise intraocular eye pressure, which is considered a risk factor for glaucoma and cataracts.
e_monk/flickr

You can even increase your risk of musculoskeletal trauma just by wearing a tie, according to research by researchers at Yonsei University: those who wear ties often find their range of motion “significantly decreased when wearing a tight necktie compared to without it”.

This leads to an increase in certain muscles, causing tension to accumulate in the upper trapezius and raising the risk of injuries.

Ties may even contribute to the spread of hospital-borne disease

Perhaps more worrying than spraining muscles in the office is the fact that wearing a tie in health-focused workplaces could be putting others at potentially lethal risk: a study carried out by Texas A&M Health Science Center College of Medicine showed that among 42 male surgical clinicians at the New York Hospital, nearly half had managed to accrue infection-causing pathogens on their ties.

“Hospital-acquired infections account for a large proportion of high rates of morbidity, mortality, and costs,” according to Eyal Zimlichman, Daniel Henderson, and Orly Tamir, who carried out the study. “We estimated there are approximately 440,000 of these infections annually among US adult inpatients and that their annual costs are $9.8 billion.”

Considering hospital-borne infections are placing such a big strain on healthcare systems, ties harbouring pathogens could be making a serious contribution to an increasingly concerning healthcare problem.

It looks as if we may need to call time on the deceptively dangerous garment and do away with ties altogether.

This article was adapted from an original article on Business Insider Deutschland.

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Airman who inspired ‘Good Morning, Vietnam’ film has died

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Adrian Cronauer, the man whose military radio antics inspired a character played by Robin Williams in the film “Good Morning, Vietnam,” has died. He was 79.

Mary Muse, the wife of his stepson Michael Muse, said Thursday that Cronauer died Wednesday from an age-related illness. He had lived in Troutville, Virginia, and died at a local nursing home, she said. Ben Finley reported on pressherald.com

During his service as a U.S. Air Force sergeant in Vietnam in 1965 and 1966, Cronauer opened his Armed Forces Radio show with the phrase, “Goooooood morning, Vietnam!”

Williams made the refrain famous in the 1987 film, loosely based on Cronauer’s time in Saigon.

The film was a departure from other Vietnam war movies that focused on bloody realism, such as the Academy Award-winning “Platoon.” Instead, it was about irreverent youth in the 1960s fighting the military establishment.

”We were the only game in town and you had to play by our rules,” Cronauer told The Associated Press in 1987. “But I wanted to serve the listeners.”

The military wanted conservative programming. American youths, however, were ”not into drab, sterile announcements” with middle-of-the-road music, Cronauer said, and the battle over the airwaves was joined.

In the film, Williams quickly drops Perry Como and Lawrence Welk from his 6 a.m. playlist in favor of the Dave Clark Five.

Cronauer said he loved the movie, but he said much of the film was Hollywood make-believe. Robin Williams’ portrayal as a fast- talking, nonconformist, yuk-it-up disc jockey sometimes gave people the wrong impression of the man who inspired the film.

“Yes, I did try to make it sound more like a stateside station,” he told The AP in 1989. “Yes, I did have problems with news censorship. Yes, I was in a restaurant shortly before the Viet Cong hit it. And yes, I did start each program by yelling, ‘Good Morning, Vietnam!”‘

The rest is what he delicately called “good script crafting.”

When the film was released, the presidential campaign of Democrat Jesse Jackson called asking if Cronauer would help out. The conversation died quickly after Cronauer asked the caller if she realized he was a Republican.

In 1992, George H. W. Bush’s re-election campaign taped a TV ad slamming Bill Clinton’s draft record. In the ad, Cronauer accused Clinton of lying.

“In many ways, I’m a very conservative guy,” he said. “A lifelong, card-carrying Republican can’t be that much of an anti-establishment type.”

Cronauer was from Pittsburgh, the son of a steelworker and a schoolteacher. After the military, he worked in radio, television and advertising.

In 1979, Cronauer saw the film “Apocalypse Now” with his friend Ben Moses, who also served in Vietnam and worked at the Saigon radio station.

“We said that’s not our story of Vietnam,” Moses recalled Thursday. “And we made a deal over a beer that we were going to have a movie called ‘Good Morning, Vietnam.”‘

It wasn’t easy. Hollywood producers were incensed at the idea of a comedy about Vietnam, said Moses, who co-produced the film and wrote the original 30-page story.

“I said ‘It’s not a comedy – it’s the sugar on top of the medicine,” Moses said.

Writer Mitch Markowitz made the film funny, and director Barry Levinson added the tragic-comedy aspect, Moses said. Williams’ performance was nominated for an Oscar.

Moses said the film was a pivotal moment in changing the way Americans thought about the Vietnamese and the war.

Muse, the wife of Cronauer’s stepson, said the movie “helped open dialogue and discussion that had long been avoided.”

“He loved the servicemen and servicewomen all over the world and always made time to personally engage with them,” she said.

She added that he was “a loving and devoted husband to his late wife Jeane (as well as a) father, grandfather and great-grandfather.”

Cronauer attended the University of Pennsylvania’s law school and went into the legal profession, working in communications law and later handling prisoner-of-war issues for the Pentagon.

“I always was a bit of an iconoclast, as Robin (Williams) was in the film,” Cronauer told the AP in 1999. “But I was not anti-military, or anti-establishment. I was anti-stupidity. And you certainly do run into a lot of stupidity in the military.”

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Open a Branch office in Vietnam

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Foreign corporations operating in Vietnam can operate as a branch office without the need to incorporate. However, it is generally advisable to incorporate rather than set up a branch office in Vietnam, given the numerous drawbacks associated with having a branch office. However, generally, branches are not a common form of foreign investment given they are only permitted in a few sectors.

As a matter of practice, apart from the culture, education and tourism, banking, tobacco, legal services and airline industry, there have been very few branches established in Vietnam.

A foreign company can establish a branch office in Vietnam provided it has obtained prior approval from the government. The Branch will have to apply and obtain the establishment license, and possess a seal bearing the name of the Branch. The conditions for obtaining a Branch license are quite simple. Normally, a Branch license shall be granted if the foreign entity satisfies the following conditions:

(i) It possesses a legal certificate of business registration, in accordance with the laws of applicant’s country;
(ii) Has been established for a period of not less than 5 years, from the business registration.

The application needs to be filed with the MoIT ( Ministry of International Trade) Approval is location specific and subject to guidelines issued in this regard. There are eligibility criteria and procedural guidelines for establishment of a branch office by foreign entities in Vietnam.

The branch’s operating license expires five years from the licensing date and is renewable.

Advisory services

GBS – one of the best business law firms in Vietnam with a network South East Asia, Middle East, Japan, HongKong, Malta and Poland – offers simple direct advice to start your operations in Vietnam. They provide the help you need to understand your options, obtain your business license and complete the registration of your branch office in Vietnam.

Email: info@gbs.com.vn or SMS | iMessage | WhatsApp | Viber | Hotline: +84903189033

For more information on GBS’s services, visit the website: https://gbs.com.vn

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Vietnam to warn of floods, landslides after tropical storm Son Tinh hits

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Vietnam has warned of floods and landslides triggered by heavy rains after tropical storm Son Tinh made landfall in northern coastal areas, although no casualties were reported on Thursday.

A long coastline makes Vietnam prone to destructive storms and flooding, with 389 people last year in natural disasters such as floods and landslides, the General Statistics Office said. Reuter reported.

Son Tinh weakened to a tropical low pressure event by the time it reached Vietnam late on Wednesday, curbing fears of immediate and widespread damage, but raising concerns of flooding.

“Heavy rain is forecast to continue in northern and central provinces, and threatens to cause flash floods and landslides in Hoa Binh, Son La, Lai Chau and Lang Son provinces,” the national weather forecaster said.

The Southeast Asian country had ordered vessels back to port and prepared evacuation plans ahead of the storm, which soaked parts of the Philippines on Tuesday.

Heavy rain of up to 350 mm (13.8 inches) flooded some coastal provinces, affecting nearly 64,000 hectares of rice and 3,200 hectares of cash crops on Thursday, the government’s disaster management agency said.

Floods limited road access to many parts of Nghe An province, 300 km (186 miles) south of Hanoi, state media said.

Last month heavy rains triggered flash floods and landslides that killed 24 people in the remote and mountainous northern provinces of Lai Chau and Ha Giang.

Nghi Son refinery, not far from Son Tinh’s path, was spared. On Wednesday, a company safety official had said it had no plan to suspend operations.

(Reporting by Khanh Vu; Editing by James Pearson and Clarence Fernandez)

Hanoi cyclo driver denies votive money cheat accusations

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A cyclo driver in Hanoi has denied having given votive money as change to two French tourists.

On Wednesday morning, Nguyen Van Chinh, 39, said he took the two tourists on an one-hour tour around the Old Quarter in Hoan Kiem District for an agreed price of VND 600,000 (USD26) and they paid exactly the sum – reported in an article from Vietnamnet

“It was about 6pm on July 16 and the two tourists were standing by Hang Da Street,” Chinh said. “I approached and invited them to take a tour around the Old Quarter. They agreed with the price I proposed.”

Chinh said that after touring four streets on his cyclo, the two tourists asked him to stop at Hang Gai Street to have dinner.

“One of them gave me one VND500,000 note and one VND100,000 note which was exactly the agreed tour fee,” Chinh said. “They then also gave me a VND20,000 note as bonus. There was no change I had to give them so I don’t know why they were talking about votive money here.

The cyclo driver admitted that the fee of VND600,000 for this tour was higher than normal prices but he was not cheating as the two tourists had agreed with the fee.

“Now I was shocked when seeing the video clip of the two tourists accusing me of giving them votive money as change,” he said. “I have also been criticised by many people. But I swear I did not do that. I’m willing to meet and talk to the two tourists and local authorities about that.”

Chinh said he has been doing this work for three years and claimed he has never had problems with his customers.

The story has badly affected the cyclo drivers in the area who said they wanted local authorities to quickly announce the results of the investigation and assure visitors that this was only one particular case.

Cyclo drivers in Hanoi say they want local authorities to quickly announce the results of the investigation and assure visitors that this was only one particular case

A driver, Le Van Bien stressed the need to strictly punish the drivers who cheat customers to prevent future wrongdoings.

“Their actions are badly affecting the image of cyclo service here,” Bien said. “But I believe such incidents are very rare as we all want to develop our image to have more customers and continue this work for a long time.”

Bien also said that even if the cyclo driver did not give votive money to the tourists, he should also be criticised for charging too high a price for an Old Quarter tour.

“We usually take VND200,000-300,000 for an one-hour tour around the Old Quarter. But that driver had asked for too much.”

Meanwhile, the Hoan Kiem District People’s Committee said they were still working with the local Tourism Department on the investigation but there was so much unofficial information about this.

On July 17, a video clip about the two tourists talking about being given votive money after an one-hour tour around the Old Quarter went viral on the internet.

According to the tourists, they called a cyclo for an hour tour around the Old Quarter in Hoan Kiem District for an agreed price of VND 600,000 (USD26).

The votive money shown by the two French tourists. Photo from video clip

After the tour, they gave the cyclo driver VND1.5m and the driver gave them the change with one VND500,000 and two-VND200,000 notes.

On the morning of July 17, the two tourists tried to use the notes to pay for a taxi ride and were told that it was votive money.

Why Do Vietnamese People Wear Conical Hats?

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A common sight you will come across while traveling along Vietnam is that of local ladies donning the Non La (Vietnamese conical leaf hat), walking gracefully along the sidewalk. Here is the story of the Non La.

The Non La is a traditional symbol of Vietnam, which like many other traditional costumes of the country, has an origin story that comes from a legend. The legend here pertains to the history of rice-growing in Vietnam.

A common sight in the Vietnamese countryside | © Dennis Jarvis/Flickr

The story goes that once upon a time, during a torrential downpour of rain that lasted weeks, flooding lands and homes and causing unfavorable disturbances to the rural life, a graceful goddess descended from the sky. She was wearing on her head a giant hat made of four large leaves stitched together by bamboo sticks. This hat was so large that it guarded the people against all the rain, and she was able to dispel the clouds and rain, allowing the people to return back to a normal life.

The non la | © Brian Jeffery Beggerly/Flickr

The goddess even taught the people how to grow crops among many other things, and one day during one of her educational stories, mankind fell asleep listening to her soothing voice. When they woke up, the goddess was gone.

To honor her, a temple was built, and not only that, but everyone followed suit and took her lessons to heart. People went into the forests to find leaves similar to the ones that the goddess had on her head, which they then stitched together on a bamboo frame. This then became an indispensable item, a daily essential for the farmers on the paddy fields, boat-women rowing passengers across rivers, and those traveling miles under the scorching sun.

Ever since this original version that appeared thousands of years ago, the Non La has evolved greatly and now has many variations. As a rule, women don a broad-rimmed version of the hat, whereas for men, the cone is higher and the rims, smaller. Different versions were made for the upper class, for children, for the army troops, for the religious monks, for different regions even, and so on. There are over 50 types in total. The material can change too, as people utilize what is around them, however one typically uses palm leaves, bark of Moc tree and bamboo to make them.

The two best known are the Non La of Chuong Village near Hanoi and the Bai Thohat of Hue, the old imperial capital. The Non Bai Tho, also known as the poem hat, usually has a picture of bamboo or poetic verses under the leaf layers, which can only be seen under the sun.

The Non La is used as protection from the sun and rain, a basket for vegetables to use when shopping at the market, or even as a bowl to relieve thirst when passing by a well. You may even come across young couples shielding their kisses form the public behind this traditional hat during their dates. It also makes for a great souvenir to take home, to show the rest of the world that this traditional symbol of Vietnam remains without age, sex, or racial distinctions.

By Piumi Rajapaksha, The Culture Trip