Nguyen Thi Kim Tuyen during an online lesson uploaded to the YouTube channel of MST English
A Hanoi-based teacher who was fined and banned from teaching for insulting a student by calling him “pig brain” could receive more punishment as the municipal chairman has requested that the headline-making case be examined further.
The Hanoi education department should coordinate with relevant agencies to look into the case involving Nguyen Thi Kim Tuyen and the MST English center, and impose stern punishment for any violations found, according to Nguyen Duc Chung, chairman of the municipal administration.
The education department was also required to report the results to the administration by May 15, Chung said in a directive on Tuesday.
Tuyen was filmed engaging in an intense argument with one of the learners inside her classroom, operated by MST English, during which she called him “pig brain” and “pig face,” which means “extremely idiotic” in this context.
“No [English] center out there is capable of turning a pig like you into a human,” she said in the video, which was uploaded on Facebook last weekend.
The incident started after Tuyen demanded that the student pay VND100,000 (US$4.4) as he had broken the center’s rules by not handing in homework on schedule.
However, the student refused to do so and called her a “fraud.”
The fine was listed among the “discipline of steel” applied at the center, and learners are required to sign a commitment to comply with such rules at the beginning of the course.
The inspectorate from the municipal education department has recently imposed a fineworth VND5 million ($220) upon Tuyen and required her to stop all teaching activities.
MST English, with three locations in Hanoi, was shut down for failing to obtain a license to operate as a foreign language training facility.
The MST Education System JSC, whose director is Tuyen, was also fined VND20 million ($880) for operating the center without permission from local authorities.
A place of breathtaking natural beauty and unique heritage, visitors to Vietnam can marvel at the picturesque Halong Bay, explore spectacular cave systems in the Phong Nha-Ke Bang National Park, see grand colonial mansions from the French era and many more! Vietnamese street food is another great draw, with its incredible subtleties and outstanding diversity.
However, Vietnam was the place where I encountered my first travel scam and it will always be etched in my memory. In fact, it was THE country that has inspired the creation of this site! Home to a sizeable bunch of shrewd scammers, almost everyone who has been here has met one. Read on to learn how to protect yourself!
A. TOURIST SPOTS/ACTIVITIES
1. Cyclos
Those three wheel bicycles/trishaws you see lining the streets at tourist attractions? Avoid them at all costs (just like with the tuk tuks in Thailand, Cambodia, Sri Lanka, etc). What they do is they will approach you and offer a ride where you can pay as much as you want, or not at all! Now, alarm bells would have begun ringing.
However, what they do next is brilliant. They will take out a notebook and show you all the positive reviews in it. You will find extremely detailed reviews praising the driver and the trip in different languages and in different handwriting. As someone who knows a few languages, I was able to verify a number of them.
The cyclo operator is also an extremely glib speaker. He is able to build rapport (this is easy, for instance, enquiring about your country and sharing some knowledge of it) and address any of your fears (such as allowing you to stop halfway if you wish). Once you get onto the cyclo, the driver will then attempt to build trust with you bit by bit.
End of the day, once all trust has been built, he will bring you somewhere secluded. Next, he fishes out a list of prices based on hours of service and demand payment. You pretty much have no choice but to pay.
However, it must be said that a cyclo experience can be an interesting one. To protect yourself, agree a clear price before hiring one and make sure that you stop at a place you know.
2. Overcharging and confusing currency
This is common around the world, but it is much more easily implemented here due to the large note denomination.
Overcharging can occur in many different forms, such as over conversion of currency, giving less change by rounding up/down, not giving any change by insisting on a tip, or even changing the fare once the service is completed!
Many places also quote in USD to make overcharging easier for them. This is done either by rounding up to USD (which is higher than the value in Vietnamese Dong) or by demanding payment in Dong while using an unacceptable exchange rate.
Also beware when a vendor tells you 10, it could mean 10 USD, 10,000 Dong or even something else! Besides this, always ensure that the fee is for everyone in the group and not for each individual.
For popular tourist markets such as Ben Thanh market, prices are also marked up a few HUNDRED times, more if you are a Caucasian.
Always clarify clearly the price to be paid, in what currency and if it’s for the whole group. And always check your change. Finally, at markets such as Ben Thanh Market, be ready to haggle or not buy!
3. Street vendors of all kind
There are some vendors who sell books in boxes at cheap prices. But alas, those books are photocopies! You would not know as these “books” are wrapped up. Some of those are also of low quality – errors in pages, etc.
Then, there are other vendors who will invite you to take a photo with them. Once taken, they will demand a fee, a tip, or a purchase of their products. Ignore, and you will be hounded until you pay.
For instance, we have the fruit ladies of Hanoi. They will offer to lend you a fruit basket and to take a photo of you. It’s difficult to escape if you have taken the bait as they work in groups. Something worse that might happen is that you get pickpocketed in the process.
Local market @ Bojan Mirovic
Also, you might come across fake beggars. Some examples are fake cripples, hungry babies who are actually asleep due to alcohol and people who fake sickness and weakness. Do not donate or you will be hounded as well.
Moving on to Sapa, we have the textile women who tries to guilt trip you. They accompany you on trips and share their life stories so as to build trust and rapport. At the end of it all, they ask that you buy handicrafts from them while crying.
Finally, avoid pesky photographers who offer to take photos of you. Firstly, they will take multiple photos and demand a much higher payment. Secondly, they will not deliver the photos to you as promised.
Essentially, avoid donating to beggars on the streets and avoid engaging the fruit ladies of Hanoi, textile women of Sapa and the fake “photographers”.
4. Unscrupulous tour companies
Helicopter tours of Halong Bay began operating this year. @courtesy Bell Flight
There are many of such black sheep in the industry (but it happens all over the world, e.g. in Australia, Morocco, etc).
For instance, some of them claim to provide snorkelling, island trips etc which they do, but only allow for a meagre amount of time . There are also many grey areas they could capitalize on such as allowing for overbooking of trips.
For boat trips, it is also important to buy return tickets rather than one way ones, as you might be exploited when you find no other means of return.
Check out online reviews of the tour companies and only commit to the reputable ones.
5. Restaurants that do not display prices
Also, be careful of those that list prices in USD. They might demand payment in Vietnamese Dong and use some unreasonably expensive exchange rate.
Avoid, but if you must try, do ask about the prices before ordering. If all you get are vague replies, that’s the sign to leave.
6. Overcharging by restaurants in other ways
Those nuts or fruits they serve you before the start of the meal? Reject them, as they cost an exorbitant amount.
For those who tend to stay long at restaurants, try to keep whatever you’ve ordered at your table be it empty plates or bottles. This is to collect evidence and prevent restaurants from overcharging you by asking you to pay for something that you did not order.
Check your restaurant bill carefully. Should you point out something that has been charged but not ordered, check the new bill again. Sometimes, they might not have changed the variables taxes on the bill.
Do some online research and eat only at reputable/legitimate places.
7. Shopping
Always inspect your goods after purchase, especially those that are wrapped, as they might be swapped (same scam in Hong Kong). The same goes for your change or if you were to change money at a money changer.
Also, note that a very common scam in Vietnam is that vendors will claim that something is free. Once you have used it (service, food, etc), payment will be demanded and you will be hounded until you pay.
Besides street vendors who peddle fake ware, there are many shops which sell fake stuff as well, such as silk and even war relics!
Buy only from reputable establishments, which you can find online or from your hotel.
Also always verify the item both before and after purchase.
8. The place is closed
A popular scam in Asia (Thailand, India, etc), someone (anyone!) might approach you and inform you that a place is closed.
They will then offer to bring you somewhere else where they can get commission.
Never trust an overly friendly stranger who approaches you on the street, especially one who can speak good English.
9. Karaoke/prostitution (illegal in Vietnam)
This is a simple scam, yet one that many inexperienced male tourists fall for.
At the karaoke, a male tourist might be approached by a hooker. Money is given to book a room but the hooker disappears. Next, the bill comes and the tourist is charged an obscene amount! If you refuse to pay, you will simply be beaten up by the mafia there.
As shared by a reader in the comments section below, even the hookers are a scam in themselves. Pretty girls are advertised on flyers, but when push comes to shove, they do not turn out to be as advertised.
Avoid such activities.
10. Massage scam
As generously shared by another reader, massage places in Hanoi are a big scam.
They advertise a low price for their services, but when the bill comes, you will find that you are charged for a ton of ancillary products, such as water!
Only check out reputable institutions by researching online or asking your hotel for a recommendation.
B. TRANSPORT
1. Motorbike rental
Motorbike rentals can get pretty tricky in Vietnam (especially in Nha Trang and Mui Ne). There is the standard scam, where the owner follows you, “steals” your bike back and then demand compensation. Another common one would be mechanical problems in the bike which the owner will demand a repair fee for.
Also, there are many fake Honda motorbikes around.
Rent your bike from a reputable place. Consider investing in your own lock and key as well as it can’t be “stolen” by the owner. Also test out the bike upon rental to identify any problems and sound out immediately.
It would be good to know your bike or to research the specs on the web before booking to prevent getting a fake Honda.
In Vietnam, you also require a Vietnamese driving permit. If you are caught without one, the motorbike can be impounded for a month and you would have to continue paying for the bike.
2. Motorbike taxi
A man riding a mini-motorbike in Hanoi’s street @ Yu Jason
Some motorbike “taxis” might approach you with an offer, which they claim is cheaper than normal taxis. Or they might say don’t worry about the fee, just go first and if you’re happy, you pay how much you want.
They might even say that there is no bus to the place that you want to go! That is usually nonsense. Some others use the “cyclos scam”, where they claim to bring you around for free but in actual fact, bring you to a secluded spot and demand a huge sum of money.
Do note that these people have no training or certification. This means that not only is your wallet at risk, but your life is at risk as well.
3. Taxis
There are taxis with tampered meters. There are also some who demand tips and some who claim to take shortcuts but are in fact longer routes (good to know the location).
Note that there are also fake Taxis in Vietnam (like in China)!
For those who arrange for taxi transport from the airport to your hotel, do be wary as well! There are operators who learn the details of these arranged pick ups and pose as the assigned driver from the hotel. They pick you up, call their accomplice and then claim that the hotel is full. They will then bring you to another hotel where they get commissions from.
Taxi meters are based on distances, not time. So if you see one jumping wildly even when you are stationary, you know it is a scam!
To prevent yourself from falling prey to those, only take cabs from Mai Linh (green taxi), Vinasun (white taxi) or Taxi Group. Also, never agree to a fixed fee, unless you have done your research and know the market rate.
The rough cost: 10,000 Dong to exit airport; 150,000 Dong to get to the main tourist area. If you realize that you are scammed, do not pay. Instead, take a photo of his ID and meter and threaten that you will report it to his taxi company.
4. Purchase of train tickets from private travel agents
These touts will approach you and claim that the mode of transport you taking is delayed. They then offer to help you get a new ticket. However, they will buy a cheaper ticket than the one you requested.
As most people do not know Vietnamese, they are unlikely to spot the difference. It is also pretty much impossible to demand a refund as by the time you realize the scam, you would have been on the train already.
There are also some who might offer to carry your luggage as the distance to the platform is rather far.
Reject the help of these touts no matter how official they look.
5. Purchase of train tickets online
Would you believe it.. There are even fake train websites in Vietnam! A good resource for train planning is Seat 61 (http://www.seat61.com/Vietnam.htm).
If possible, only get your tickets from your hotel or reputable travel agents.
6. Long haul buses
This is a common transport option for backpackers wishing to travel from the North to the South or vice versa. However, there are also many scams associated and it is important to only buy from reputable companies!
Besides booking a lower quality bus than you had paid for, some buses might even stop unexpectedly at night and force you to stay elsewhere. Lo and behold, there is only one hotel in the vicinity and the owner is more than ready to accept you.
Another version is that they stop at a petrol station and force you off. Coincidentally, someone at the petrol station will extort you to pay an amount to take a cab to somewhere to transfer to another bus.
Book through your hotel or a reputable travel agent.
7. Luggage fee
Sometimes, you might be asked to pay more because you have a larger or heavier bag by bus or train staff. It is pure nonsense, there is no such rule. Do not pay.
C. ACCOMMODATION
1. Trading on popular names
When any company in the travel industry becomes popular/famous in Vietnam, there will be new companies popping up with similar sounding names and many have been scammed in the process.
For instance, good companies that have been a victim of their success include (the real sites have been hyperlinked) ODC Travel, Handspan, Kangaroo Café. The most notorious of the lot would be the dozens of Sinh Cafes around the country – the real one is now called the Sinh Tourist (http://www.thesinhtourist.vn/)!
It is good to have done your research for reputable agents online, but still stay alert in spotting the fakes with subtle differences.
2. Fake hotel scam
In today’s online world, it is easy for unscrupulous hotels to create fake reviews. Some hotels also advertise low room fees online. However, when you arrive, they will claim that the low fees were for the standard rooms which have been fully booked. To book the higher end rooms, you have to pay a lot more.
Finally, as mentioned earlier, there are many copycats hotels which trade on popular names.
Stay at reputable ones. Also, to verify a hotel, check its location in addition to its name.
3. Hotel fee scam
Some hotels demand that you pay more (e.g. double) as the fee advertised was for one person and not for one room (usually double rooms). If your passport is held at the reception, your bargaining power is further reduced.
Besides this, some hotels might advertise certain facilities online, such as a fireplace or air conditioning. However, to use them in your room, they will demand additional fees!
Remember to ask for your passports once the hotel staff has inspected them upon your check in. Also clarify the fare to be paid, and if possible, do not pay everything upfront.
D. MISC
1. Pickpockets and snatch theft
As with places with crowds, pickpockets and snatch theft are common and one must always be alert and careful.
This is more common in Ho Chi Minh City, where the bag snatchers even have a name for themselves, which is the Saigon Cowboys. Watch out for child pickpockets as well!
Sometimes, pickpockets work with street touts. A street tout talks to and distracts you, while the pickpocket steals your valuables. Be wary in such situations and check your bag if you feel someone brush against you.
Do note that other cities such as Hanoi and Nha Trang face similar situations too.
If you want to avoid becoming a victim, it is best to keep your cash safe and secure. Only carry small amounts of cash around with you. Avoid carrying the purse or wallet in the back pocket. Also, use a spare wallet, money belt or anti-theft bag to further protect yourself from pickpockets.
Further, keep most of your valuables and passport in the hotel safe. Carry around a photocopy of your passport instead. Also, consider using hotel safety tools such as a hotel safe lock or door jammer to further strengthen the security of your hotel room.
Do consider checking out the articles on the Netherlands and Spain as well, where the real pros operate.
2. Hanoi shoe repair
This is a less common scam, though watch out if you are wearing worn out shoes!
For this scam, some guy approaches you out of nowhere and applies glue to your shoes. Next, he would take out a thread and tell you that your shoes are about to fall apart, which he can repair for $1.
If you didn’t realize, that glue is actually a solvent that dissolves stitches! Should you say yes, he would then proceed. However, the trouble does not end when the job is completed, as he will be demanding $10 or more!
Be alert and not let anyone apply anything to your shoes!
3. Drugs in Hue
If you are offered drugs, do NOT take them. You will be reported to the police and the “reporters” will be rewarded for tipping the police off. Firmly reject.
4. Invitation to a card game
This is a pretty common scam around the world, such as in Malaysia and Morocco.
Anyhow, the script is similar. Firstly, a friendly man approaches you, asks where you’re from and remarks that his relative will be going there to work or study!
In this context, rapport is easily built as it feels that you have found someone close in a land of strangers. There will be also be this urge to share more about your home country, which the scammer will tap on. He will invite you over to his house where you could share helpful advice over a meal. But upon reaching the house, lo and behold, the man’s sister/daughter is not there!
Instead, you find the man’s brother/uncle who will get you to play some card game such as blackjack or poker. You might also be taught some tricks so as to work together to cheat other visitors who will be coming soon. Regardless of the situation, you will lose. Here’s a fascinating recount of an experience with this scam.
Avoid engaging with an overly friendly local on the street, especially if he has a good command of English.
5. Internet cafes
Keyboard loggers, viruses, spywares and what have you are common in Internet cafes.
Do not do anything in there that can potentially expose your personal or financial data.
6. Paying excessively more when buying through agents
As kindly shared by one of our readers, Frank, he paid 290k VND for a SIM card through an agent at the airport. It was supposed to provide 30 days unlimited 3G access, but died after 5 days.
When he went down to the official store, that was when he realized that the plan he had purchased was a 90k VND plan.
Parents in Vietnam are on tenterhooks over the growing popularity of an Internet challenge known as Blue Whale, where ‘players’ are asked to complete a series of tasks, the final being suicide.
The ‘challenge’ is supposedly administered by an online curator over 50 days, during which the curator gives players daily tasks to accomplish and requires them to submit photographic evidence that they have completed each.
Communication between the curator and the participant is typically kept private.
Tasks increase in difficulty as the game proceeds, namely drawing a blue whale on paper, carving a blue whale on one’s arm with a knife, watching horror movies, killing an animal, and ultimately culminating with suicide.
A user plays the Blue Whale game on a mobile app. Photo: Dunya News
Blue Whale was first reported by Russian media in 2016.
Since then, hundreds of suicides suspected to have been inspired by the challenge have been reported in the U.S., Asia, Europe, and South America, according to CNN.
No case of suicide has been confirmed to be directly linked to the rumored challenge, and many experts suggest Blue Whale was originally a sensationalized hoax that led to imitative self-harming.
According to parents in Vietnam, the Internet challenge has emerged as a new obsession among the country’s youth who may engage in self-harm due to peer pressure.
Ngan Nguyen, a mother in Ho Chi Minh City, says her ten-year-old daughter knows everything about the game, including its origin, rules, and author.
“It turns out all her classmates in fourth grade know about this ‘game’ through the Internet,” Ngan said.
A Vietnamese girl films herself completing the Blue Whale challenge in this still photo taken from a video posted on video-sharing site YouTube
A quick search on popular social media platforms in Vietnam, including Facebook and Instagram, revealed that the Blue Whale game has become a topic of interest among children and teens looking for instructions on how to play the ‘game’ and complete its tasks.
Clips of Vietnamese children filming themselves completing the challenge and giving ‘tips’ to new players can also be found on social media sites like YouTube.
“Some friends taught me to break the rules by drawing a whale on my arm with a red pen, killing a mosquito, watching cartoons instead of horror movies, and jumping off a bed instead of a building to complete the challenge without actually hurting myself,” said Phuong Anh, a fifth grader in Ho Chi Minh City.
Anh said her classmates are crazy about the challenge and often compete to get the most views for YouTube videos of themselves completing the tasks.
“This trend is potentially dangerous because children are impressionable and often imitate others without thinking about the consequences,” commented Facebook user Ngoc Yen on a post by a worried parent.
Meanwhile, officials in the southern province of Tien Giang refuted rumors on Wednesday that students at a local secondary school were hurting themselves playing the Blue Whale game.
Rumors began in March that students at Cai Be Middle School in Cai Be District, Tien Giang, were cutting their own arms to complete a task in the challenge.
An investigation carried out by provincial authorities found that such rumors are completely unfounded, said Nguyen Van Nhiem, head of propaganda and education of Cai Be District.
Vietnam’s tea export dropped both volume and value in the first four months of 2018 despite price hike. Low quality and lack of internationally-known brand names remain the biggest barriers for Vietnamese tea to gain strong foothold in foreign markets.
Vietnam exported 34,000 tonnes of tea for 54 million USD during January – April, a decrease of 10.2 percent and 3.6 percent, respectively, from the same period of 2017.
Prices of exported tea in the first quarter averaged at 1,546 USD per tonne, up 7.5 percent year on year. The biggest buyers of Vietnamese tea during the reviewed period included Russia, Pakistan, Taiwan (China), Indonesia, the US, China and Malaysia.
Pakistan continued to be Vietnam’s largest tea importer in terms of turnover. The country purchased 4,060 tonnes or 16 percent of Vietnam’s total tea exports, for 8.45 million USD, down 28.9 percent in volume and 19.2 percent in value. The decline was a result of a stricter rule of Pakistan which requires an aflatoxin certificate for tea imports.
The similar situation happened to tea shipments to China and Taiwan where stricter regulations were also applied.
Pakistan was followed by Russia who imported over 4,170 tonnes of tea for 6.49 million USD, down 8.4 percent in volume but up 6.5 percent in value thanks to a 16.2 percent increase in tea prices that averaged 1,556 USD per tonne.
According to experts, lower demand might have played a part in the fall of tea exports but the biggest problems were that domestic exporters paid a little attention to improving the tea quality alongside an absence of Vietnamese tea brands known internationally.
Japan is among countries with large consumption of tea as it is not only good for health but it is part of a hundred-year tea culture in Japan.
This leaves huge potential for Vietnamese tea producers to unleash but it will be not easy.
Though Vietnamese tea has made inroads into Japanese market but it only accounts for about 0.5 percent of the market share. It is largely due to the fact that the Vietnamese tea has not satisfied the local consumer taste. Plus, the majority of the exports were in the raw form with lower quality and value.
Last year, Vietnam’s tea exports to the EU saw surges of 24.55 percent in volume and 40 percent in value with those to Germany posting the strongest growth, 82.9 percent in volume and 169 percent in value.
It is a positive signal for the tea industry in Vietnam, particularly since the 500-million-strong EU market comprises of a number of high-income economies where consumers want more than just low prices. Therefore, to boost exports to the EU, Vietnamese producers will need to shift focus on improving their products’ quality, design and convenience.
Big changes in key personnel have been among the hottest issues discussed at banks’ shareholders’ meetings this year.
Vu Van Tien has resigned from his post as chair of AB Bank as confirmed at the bank’s 2018 shareholders’ meeting held on April 25.
Tien is also the chair and CEO of Geleximco, chair of An Binh Securities and chair of Thang Long Cement JSC.
He left his position at AB Bank to be able to continue holding posts in other corporations.
The Credit Institution Law which took effect on January 15, 2018 stipulates that chairs and CEOs of credit institutions must not be chairs and members of board of management, CEOs, deputy CEOs, or have equivalent positions in other corporations at the same time.
This is why many high-ranking executives now have to choose to continue their posts either in banks or in other corporations.
Vo Quoc Thang left his hot seat at Kien Long Bank after five years to continue to be the chair of Dong Tam Group.
Meanwhile, to stay in the post of chair of Sacombank, Duong Cong Minh had to resign as the chair of four companies – Him Lam, Bao Long Sportswear, Xin Man Development and Lien Viet Securities.
Minh admitted that it was a difficult decision. “Honestly speaking, only at this moment am I sure I will devote myself to Sacombank. Previously, I did not know if I would stay or I would leave soon,” he told reporters on the sidelines of Sacombank shareholders’ meeting recently.
Do Quang Hien, who was chair of T&T Real Estate, also decided to leave the post to stay in SHBank. He said that 80-90 percent of his time was used to manage the bank.
Analysts said the banking system would see more bankers taking leave. The Law on Credit Institutions took effect three months ago, but there are still many people concurrently holding posts at banks and other businesses.
Nguyen Thi Nga, for example, is still chair of SeABank, chair of BRG Group and chair of a series of other companies, while Nguyen Thi Phuong Thao is the CEO of Vietjet Air and deputy chair of HDBank.
Nguyen Tri Hieu, a banking expert, said the regulation will help wipe out cross-ownership in financial institutions and allow bank managers to concentrate on certain business.
Hieu said state agencies need to take drastic measures to be sure that individuals leaving banks or companies would not continue hold control and have influence in other legal entities.
Kevin Snowball, Chief Executive Officer, PXP Vietnam Asset Management, reveals to Hubbis the size and scale of the Vietnam investment opportunity.
Vietnam represents a tremendous investment opportunity for investors across the board, according to Snowball. The country is the 15th largest in the world by population and has seen over a dramatic move up the value chain over the last five or six years, he adds.
“We have one of the fastest growing economies in the world at 6.8% last year, likely to be similar again this year,” he says. “We have a stable currency, and a trade surplus now, whereas a decade ago we had a trade deficit.”
According to Snowball, Vietnam is on a similar path to China, but probably 15 or 20 years behind it, where the country attracts foreign direct investment to modernise and industrialise. “Six years ago, the two major export earners for Vietnam were crude oil and garments and footwear, and there was no such thing as electronics on the export menu if you like,” he says.
But over the past six years there’s been a massive move into the electronics sector, he points out, to the extent that, for example, Samsung assembles somewhere around 50% of their global smartphone production in Vietnam.
This number represents about 20% of Vietnam’s total exports. This “sounds like a very high number but compares with roughly 17% of Korea’s total exports, so it’s not out of whack,” he explains.
On the capital markets side, Vietnam’s stock market is now seeing approximately three times the daily turnover compared to the beginning of 2017, Snowball points out.
“We have seen a large number of new IPOs, particularly from the private sector over the last nine months to a year,” he says.
In April this year, Vietnam Technological and Commercial Joint Stock Bank or Techcombank launched the nation’s biggest IPO that aims to raise as much as USD922 million and has attracted the whos who of global funds as cornerstone investors.
“Also coming we’re told in Vinhomes which is a subsidiary of Vingroup, the biggest property company, property developer in the country,” he says. “And there’s a whole list of (SOEs) state-owned enterprises which will be sold off over the course of the next two to three years I imagine.”
Snowball notes that Vietnam has a very determined aim to become an MSCI emerging market index component rather than and MSCI frontier one.
“For that to happen, we need to see an increase in the accessibility of the market because we still have foreign ownership limits, which need to be relaxed for MSCI to treat Vietnam as a serious contender for such a re-designation,” he says.
For investors looking to tap the Vietnam story, there are many different approaches, says Snowball.
One can come in directly into the market with one of the brokers, or access it via various products from ETFs to closed and open-ended funds, he says. “There is a large number, for example, of UCITS funds from Luxembourg particularly, and ETFs both local and off-shore. It really depends on what fits your risk profile.”
Regarding sectors or strategies that represent exceptional value in Vietnam today, Snowball says that PXP is sectorally agnostic and tries to pick the best available listed companies in Vietnam from a long-term perspective.
Founded in 2002, PXP Vietnam Asset Management is a boutique investment manager, which concentrates solely on equity investment in frontier-market Vietnam.
Of importance within these companies, from a qualitative perspective, is the style, the consistency, and the transparency of the management. “And the amount of due notice that they pay to minority interests and other forms of corporate governance,” he says.
Over the last year, PXP has been particularly keen on the better brokers in the country because of the bull market. Also, “across the market, one of the major things has been the recovery of the banking sector during the past year or so,” he says, adding that PXP participated in the Techcombank IPO.
“Our biggest hold for the last 15 years has been (dairy firm) Vinamilk and as long as that continues to be the best quality or the highest quality company in the country I’m sure that we’ll continue to own that,” he states.
A walk near Hanoi’s Hoan Kiem Lake reveals the city’s distinctly Francophile architectural legacy. An old mansion that once belonged to the Governor of Tonkin, a former French protectorate, is now a government guesthouse for foreign dignitaries. The nearby Metropole Hotel, built in 1901, also maintains much of its historic appeal despite the modernized facilities.
The Metropole Hotel, opened in 1901, maintains much of its historic appeal despite the modernized facilities.
It is a picture of old Vietnam that the country’s government — and its heritage preservation policies — seems to cherish. Even the neighborhood’s new state buildings have been built in the old colonial style, with saffron yellow facades and green window frames.
Evidence of conservation can also be found in the Old Quarter, to the lake’s north, which was for centuries the center of commercial life in Hanoi. The 250-year-old Quan Chuong Gate, all that remains of the old city wall, still welcomes visitors under its glazed roof tower. And centuries-old syncretic temples, which merge Buddhist, Confucian and Taoist beliefs, still stand in the neighborhood’s winding alleys alongside old colonial villas (though some have had modern structures built on top of them).
While Vietnam’s largest metropolis, Ho Chi Minh City, has gutted its historic port district, Hanoi has retained some of its old charm. Some 600 state-owned colonial villas and shophouses, a style of building found throughout Southeast Asia, have been declared off limits to developers, said Michael R. DiGregorio, an urban planner and country director for the Asia Foundation, who has lived in Hanoi for 25 years.
According to Danielle Labbé, a professor of urban planning at the University of Montreal and author of the book “Land Politics and Livelihoods on the Margins of Hanoi, 1920-2010,”the city’s preservation is better managed than in other parts of Asia such as Beijing, where large swathes of the Chinese capital’s old alleyways have been demolished.
“In general, the national and municipal governments … have taken measures to protect monuments — the citadel, important pagodas and temples — and important urban ensembles — the Old Quarter and Colonial Quarter — with a focus on the oldest or best preserved buildings,” she said.
‘Golden land’
Elsewhere in Hanoi, however, hundreds of old villas and shophouses lie decrepit and unoccupied. And while some these buildings have been spared demolition, others have been less fortunate, according to DiGregorio.
“The charm of Hanoi has been torn down,” he said, claiming that most of the old buildings he remembers from the mid-1990s are now gone. “The question should be: why does anything remain?”
It was during the 1990s that private developers began replacing state planners, as major economic reforms began to take effect across Vietnam. Between the late 1980s and 2008, the number of French and European-style villas in Hanoi dropped by almost half, to under 1,000, according to research by Thi Nhu Dao at the Université Panthéon-Sorbonne in Paris. The same study reported that only 15% of the city’s villas are considered “intact.”
Ole Scheeren unveils plans for a spectacular ‘sky forest’ in Vietnam
Aiming to cash in on downtown properties, developers will seize land in the old parts of the city if given the chance. Given their close proximity to city’s commercial districts and government offices, the city’s oldest buildings are often sitting on Hanoi’s most valuable real estate.
“Both the Old Quarter and the Colonial Quarter sit on what the Vietnamese call ‘golden land,'” explained Labbé. “There is considerable profit to be made if an investor manages to get his hands on land in these areas and replace an old and relatively low building (with) a more profitable, bigger, multi-story building.”
Local architect Tran Thanh Van described the current situation as one of “disorder,” with preservation in the Old Quarter in disarray, she said. Historic buildings that aren’t demolished outright, are often modified or refurbished by local businesses, with little regard for their heritage.
“Hanoi has preserved its architectural heritage very badly,” she said. “More precisely, in order to make profit they incessantly build high skyscrapers to do business and (have) destroyed almost all old architectural projects.”
A quirk of history
Despite the frustration of urban preservationists, Hanoi has somewhat resisted a trend unfolding across Asia’s cities. Yet, some of Hanoi’s conservation success may be an unintended consequence of the country’s political past.
With villas, shophouses and large residences seized by the state following the 1954 communist victory in North Vietnam, old properties in Hanoi were collectivized and filled with new occupants by the state.
Decades later, these old villas remain divided between multiple families, making it difficult for developers to buy them out. The result is a state of inertia, in which buildings can neither be destroyed nor effectively renovated, according to Labbé.
“In a sense, this situation has held many buildings in the Old Quarter in a sort of ‘status quo,'” she said.
Nguyen Thao, a 30-year-old tour organizer in Hanoi, said that her parents’ house, an old French villa, remains standing for this very reason.
“They say we can only renovate the house,” she said. “We cannot destroy it, because it would affect our neighbors.”
Although Hanoi’s quant atmosphere is popular with Thao’s clients, she admitted that she took little interest in urban preservation before she began working in tourism. Many in Vietnam, particularly the young, think little of architectural heritage, she said.
“(Young) Vietnamese people prefer to live in a modern city, where they have more possibilities to enjoy their life,” she said, adding that the modernity of Ho Chi Minh City was more appealing to many of her peers.
Nonetheless, Thao said that she has now come to realize that Hanoi’s architectural history gives the city a unique flavor worth preserving. It’s a sentiment shared by Nguyen Quang Son, a 20-year-old electrical engineering student who, through a program at his university, provides free tours to foreign tourists.
“In the past, Hanoi people lived in a very different way from now,” he said. “Now the culture has changed, so the old buildings are something we still have to remember the old days.”
A court in Vietnam has sentenced a Facebook user to 4 ½ years in jail for posts that the court said distorted the political situation in the country and opposed the ruling Communist Party and the state, state media reported.
Bui Hieu Vo, 56, was convicted of conducting anti-state propaganda at the one-day trial Wednesday in the People’s Court in Ho Chi Minh City, Tuoi Tre newspaper said.
Authorities found 57 posts on Vo’s Facebook page opposed the Communist Party and instigated people to engage terrorist activities, it said. He was arrested in March last year.
Vo had confessed and asked the state to give him leniency, the newspaper said. Court officials were not available for comment Thursday.
The newspaper also reported that police in the northern province of Thanh Hoa on Wednesday had detained Nguyen Duy Son for “abuse of democratic freedoms to infringe on the interests of the state, organizations and individuals” by publishing on his Facebook page posts that defamed the country’s leaders.
International human rights group and some Western governments often criticize Vietnam for jailing people for peacefully expressing their views, but Hanoi maintains that only law breakers are punished.
More than 100 people are in prison Vietnam after being convicted of violating national security law, according to Human Rights Watch.
Traveling in Vietnam can be a life changing experience with its beautiful scenery and rich cultural history. The main hassles you’ll encounter will be the milder sort, such as pushy vendors and over enthusiastic touts. Nevertheless, petty theft is on the rise.
Travelers tend to be targets not just because of the cameras or money they carry but also due to their unfamiliarity of their surroundings. According to the post of Vinh Dao on citypassguide, these circumstances can make you vulnerable and put a bulls-eye on your back for thieves.
While the country is assuredly a friendly and safe place to travel, a little common sense and a few precautions can make your trip smooth and trouble-free.
Use your camera strap. It might get uncomfortable wearing it in the heat and humidity but it’s easy for a cướp giật (thief on a motorbike) to grab onto your brand new Canon or Nikon DSLR and drive away.
Use your front pockets. The back pocket of your shorts or trousers is an easy mark for any experienced pick pocket. Even better, use a money belt!
Put your stuff away. Most thefts experienced by travelers are crimes of opportunity and leaving your iPad or credit cards out is a big welcome sign for a thief. If your luggage has a lock, use it.
Put away your jewellery. Thieves on motorbikes love necklaces as they are easy to grab and small enough to pocket afterwards.
While walking in the city, wear your bag across your shoulder. Also, switch the bag to the inside of the sidewalk to make it harder for a would-be thief.
When checking Google Maps on your iPhone or other smartphone, hold it with two hands!
I know there is supposed to only be 5 but I just saw #6 happen to someone so I had to add it in! We hope these tips help make your trip to Vietnam as safe as can be and hope these tips can keep your trip as enjoyable as possible.
Vietnam’s car sales fell slightly in April, declining 4 percent from a year earlier to 20,557 units, according to data released by the Vietnam Automotive Manufacturers Association (VAMA).
According a report by Reuters, car sales in April were 2 percent lower than in March, VAMA said in a statement.
Toyota remained the leading brand last month, with sales rising 3 percent from a year earlier to 4,234 units.
Truong Hai (Thaco) group, the local assembler and distributor of brands such as Kia, Mazda, Peugeot and Hyundai and a significant player in the commercial vehicle segment, reported a 0.5 percent rise in group sales to 8,679 units in April.
Ford’s sales were 47 percent lower at 1,359 units in April while Honda sales rose four-fold to 2,815 units.
For the first four months of this year, total car sales in the country fell 2 percent from a year earlier to 79,115 units, VAMA said.
Adidas sees ongoing sourcing shift from China to Vietnam
The chief executive of Adidas expects a shift in its sourcing of footwear from China to Vietnam to continue although he shrugged off concerns on Wednesday about the possible imposition of U.S. tariffs on Chinese-made shoes. — Vietnam Insider
US to investigate catfish production in VN
The US delegation will investigate the production process of tra fish from May 14-25, according to the Ministry of Agriculture and Rural Development. — Bizhub
Air freight costs stymie fruit exports
Vietnamese air freight costs are much higher than the regional average and this is believed to be one of the main reasons hindering Viet Nam’s fruit exports. — Bizhub
Vietnam April car sales fall 4 pct on year
Vietnam’s car sales fell slightly in April, declining 4 percent from a year earlier to 20,557 units, according to data released by the Vietnam Automotive Manufacturers Association (VAMA). — Reuters/ Vietnam Insider
Kyoei Steel to raise VIS’ ownership to 65%
Japanese Kyoei Steel Company has announced its registration to purchase 33.2 million additional shares or 45 per cent stake of Việt Nam-Italy Steel JSC (VIS). — Viet Nam News
Viet Nam’s labour productivity among lowest in region
Despite having increased at a relatively fast pace in recent years, Viet Nam’s labour productivity remained in the lowest group in East Asia with scores in backbone sectors of the economy even falling behind Cambodia, a report found on Tuesday. — Bizhub
State budget faces pressure under implementation of FTAs commitments
Vietnam’s state budget is estimated to reduce by some VND30.15 trillion (US$1.32 billion) this year as the country has to apply the elimination of multiple tariff barriers under signed free trade agreements (FTAs), according to the General Department of Customs. — The Hanoi Times
MoIT’s projects increase losses
Ten out of 12 loss-making projects under the management of the Ministry of Industry and Trade (MoIT) have continued falling in the negative numbers, the ministry’s report said. — Bizhub
Remittances to Vietnam on the Rise
Vietnam received nearly US$13.8 billion in remittances in 2017, making it the eighth highest recipient of remittances in the world. — Vietnam Briefing
Vietnam’s HCM City eyes more Chinese tourists
Vietnam’s Ho Chi Minh City has set a target of receiving some 1.5 million Chinese visitors by 2020, up from 540,000 in 2017, the municipal Department of Tourism said Wednesday. — Xinhua
Banks report handsome profits in quarter one
Most commercial banks have released their first quarter earnings results, with many of them making big profits in January-March, a period which often sees the lowest quarterly loan growth, VietnamPlus reported. — VietnamNet Bridge
Vietnamese firms advised to invest in Cuba’s tourism market
Amid increasing demand from international visitors, Cuba plans to increase its number of hotel and guesthouse rooms to 108,000 by 2030, opening up great opportunities for Vietnamese investors operating in the fields of property, restaurant and tourism. — VietnamPlus
Transaction value via ATM/POS surges 34%
The total value of transactions via the automatic teller machines (ATMs) and points of sale (POS) last year surged sharply by 34 per cent against the previous year. — Viet Nam News
Vietnam-Korea FTA gives boost to two-way trade, investment
The Vietnam-Korea Free Trade Agreement (VKFTA), which took effect on December 20, 2015, has played an important role in attracting investments from the Republic of Korea (RoK) to Vietnam and helping the Southeast Asian nation integrate deeper into the regional economy, said a local official. — VietnamPlus
Dinh Van Chung is seen carrying a security guard on the bonnet of his car at Noi Bai International Airport in Hanoi on May 5, 2018, in this still photo taken from CCTV footage.
A taxi driver has been taken into police custody for hitting a security guard, carrying him on the car bonnet after being found cruising into an area where cabbies are forbidden from plying for hire at an airport in Hanoi on Saturday.
Dinh Van Chung, a driver of the 123 Taxi Co., was discovered driving in the zone with ‘no pick-up’ signs at Noi Bai International Airport at around 6:00 pm on May 5, police confirmed on Tuesday.
One security guard, Doan Minh Nam, asked Chung, 26, to move away, but the latter ignored the order.
As Nam became increasingly adamant, Chung used his taxi to hit the man, sending him to the ground.
While Nam was calling coworkers for help, Chung backed the vehicle and hit the security guard again, carrying him on the bonnet for a while when he tried to leave the area.
Nam was seen lying against the windshield with hands clutching the wipers and only managed to jump off the hood when the car arrived at a tollgate on the airport’s premises, according to CCTV footage.
Chung’s vehicle crashed through the barrier gate and ran away.
Hanoi police immediately searched for the cabman and arrested him on charges of resistance against on-duty officials, Nguyen Viet Hieu, a local police officer, said on Tuesday.
Chung said that his actions were caused by the fear that he was likely to receive a penalty from the security guard for the illegal driving, according to Hieu.
The municipal Department of Transport required Chung to be strictly punished and the operation of the company which employs him to be examined.
Vietnam has asked China to withdraw military equipment from the East Sea, following media reports this month that China had installed missiles there.
China installed anti-ship cruise missiles and surface-to-air missile systems on three of its outposts in the East Sea, according to sources with direct knowledge of U.S. intelligence reports.
China claims 90 percent of the potentially energy-rich maritime territory. Other Asian countries including the Philippines, Malaysia, Brunei and Taiwan also have claims to parts of the waterway.
According to Reuters’ report, Vietnam has asked China to withdraw military equipment from the East Sea, following media reports this month that China had installed missiles there.
“Vietnam requests that China, as a large country, shows its responsibility in maintaining peace and stability in the East Sea,” Vietnamese foreign ministry spokeswoman Le Thi Thu Hang said in a Tuesday statement, referring to the East Sea.
U.S. news network CNBC reported this month that China had installed anti-ship cruise missiles and surface-to-air missile systems on three of its outposts in the East Sea, citing sources with direct knowledge of U.S. intelligence reports.
Vietnam and China have over-lapping claims in parts of the East Sea.
“Vietnam is extremely concerned about the information (as reported) and reaffirms that all militarization activities, including the installation of missiles on the Spratly islands, is a serious violation of Vietnam’s sovereignty,” Hang said in the statement posted on the ministry’s website on Tuesday.
The installations, if confirmed, would mark the first Chinese missile deployments in the East Sea.
China claims 90 percent of the potentially energy-rich maritime territory. Other Asian countries including the Philippines, Malaysia, Brunei and Taiwan also have claims to parts of the waterway.
China’s deployment of defense equipment and troops on the Spratly Islands, its sovereign territory, was its indubitable right, China’s defense ministry said in a statement sent to Reuters on Wednesday.
The equipment helped protect the peace and stability of the region and “does not target any country”, the ministry said, without giving details of what deployments had been made.
Vietnamese graduates have opted to transcend national boundaries to work in other Southeast Asian countries, instead of only seeking employment in their homeland or at a foreign company located here.
Many young Vietnamese have gravitated to countries like Singapore, Malaysia and Thailand – members of the ASEAN (Association of Southeast Asian Nations) Economic Community, formed in 2015 for a greater boost of regional economic growth.
Having graduated in information technology from Can Tho University in Vietnam’s Mekong Delta region, Le Truong Quoc Thang worked at a software company in Vietnam before choosing to work for a firm in Singapore.
The 25-year-old said pressure from the job represents the chief obstacle to a newcomer.
“First days at work were very difficult. I had to try to develop self-awareness in my job, handle heavy workloads, get used to new procedures, colleagues and knowledge,” he said.
Thang sometimes entertained the intention of returning home due to feeling embattled, but quick acclimatization and a passion for programming spurred him on.
Many young Vietnamese people also work as software engineers at the firm, which averagely pays US$3,400 (US$2,500) a month for fresh graduates holding this position, and more than US$5,000 ($3,700) a month for those with over two years of seniority, he said.
“Working with highly capable people, learning a lot from them and receiving a high salary are the reasons why I and many other Vietnamese people decide to work in Singapore,” Thang admitted.
“After gaining experience, I’ll be back to Vietnam. Armed with the knowledge I acquire, I’m confident I can do many useful things for the country.”
The man supposed that education in Vietnam does not sharpen students’ ability in working in teams and figuring out problems.
Diligence alone, he added, does not help workers in an international environment where outcomes matter, irrespective of how hard one tries in the process.
The prescription is working smarter and with excitement, he concluded.
Ho Thi Hong Nhung, 23, who has been employed by a multinational enterprise in Kuala Lumpur, Malaysia since November 2017, cited high earnings, fulfillment of her goal and experience of international corporate culture as the factors enabling her to stay abroad.
She used to work in Vietnam before joining the business in Malaysia, where over 100 staff members come from her motherland, she said.
“As the company changes the manager every three months, I have lots of chances to learn from their leadership skills,” Nhung said, adding that she desired to land a job in Singapore or continue her education in the U.S. or Europe after three years in Malaysia.
One of Nhung’s colleagues here, 26-year-old Banh Thu Suong, said being employed abroad by a multinational firm will stand job applicants in good stead in seeking well-paid jobs, compared with those only working domestically.
Young people shop for shoes in Ho Chi Minh City. Photo: Tuoi Tre
It is a truth universally acknowledged that whatever you think it is…it probably isn’t…in Vietnam.
In the land of the flattest stomachs known to mankind, being an overweight jaded, vile old expat is surely not a good thing. My only consolation from the sniggers of the Vietnamese who like to sit on plastic baby chairs while staring at my beer belly is the reality that my shoulders are broader than theirs.
Thankfully I’m just that bit taller than Vietnamese passengers when queuing to board planes, which does give me some kind of perverse satisfaction until I’m sitting next to a helmet wearing motorbike ninja still on the phone (while wearing a face mask) nervously eyeing the emergency exit door. Still, I get to hog the armrests thanks to my girth and jab her in the ribs if she dares to swipe my precious comfort zone. It’s dog eat dog in economy class seating…
Unfortunately, my thinking often leads to disappointment when it comes to shopping for suitably large clothes and shoes in bright, shiny malls where you imagine you can have what you want, (‘I’ll buy all of it, thanks” – with a gleefully superior sneer), and end up sulking in an ice-parlor because all the staff said, “Sorry, no have!” when I ask for a larger size.
The problem is I’m an optical illusion – look at me from the front and I appear reasonably slim and manageable, check me out from the side and it looks like I’m having triplets and urgently need to be rushed to the maturity ward.
In the early days of living here in Hoi An, I used to buy local attire or get it tailored. But after that first year of suffering the indignities of my apparel shriveling up, unravelling or falling away in large iceberg chunks, I surrendered to the game of threads. Further limitations blighted me as local T-shirts seemed to be constructed from Artic survival cotton and there are only so many Polo shirts I can wear off a golf course.
Of course it doesn’t help when my housekeeper of the past nine years murders my garb under the guise of washing it. “Look woman, you’ve killed it! It’s stone dead. This laundry is no more! It’s deader than yesterday’s Banh Mi!” …and even up to today, she shyly giggles and says sorry in English with all the sincerity of an airport customs officer. This now requires replenishing my ensemble from the local fashionista mafia outlets.
Surreal moments ensue when I ask for something bigger. “Have you got anything in XXL?” results in being offered things that barely reach across my chest. Maybe giants in Vietnam are midgets? Body language when I’m trying to say I want a larger garment, stretching out my arms from my chest, seems to give the impression that I want breast enhancements.
Colors are fun though. Would you like 60’s style psychedelic dayglow or Hello Kitty underage kitsch? Florals with Satin? Doesn’t anyone sell decent, sensible (oh…that word!) accouterments anymore to people over 30 who have lived outside the Internet bubble and the smartphone stupidity?
The sellers will unwrap dozens of clearly tiny shirts in the desperate hope that I’ll squeeze into something they bought from their cousin in China. I have seen things marked XXXX which are basically raincoats that shrink so fast that I give them to my dog to work his evil on.
Now here’s a strange thing. Vietnam is one of the biggest exporters of shoes in the world yet even though my feet are smallish (I’m too ashamed to reveal more…) I struggle to find footwear that’s wider enough for me. Many of the biggish expats here (I’m too bashful to reveal their names…) have far greater difficulties in getting clodhoppers that fit the bill.
Locally made handmade shoes? Well, that went south when I discovered the locals falling to stitch and glue the under soles of my flashy street mashers as I grandly strolled to the nearest intersection and tripped over just short of the traffic lights.
So how did I overcome this dastardly conspiracy to doom me to wardrobe hell?
Through my mastery of space and time and airline tickets I was eventually saved by shopping overseas on my visa runs. It was an epiphany of form, style and function that hit me right in the waistline, the hemline and my bank account. I do all my shopping now in Cambodia of all places because the Japanese department stores are part of my fantasies…and everything fits.
And as for the skinny Vietnamese? I hope you all get fat so I can find something to wear…nahh!
