Zuckerberg ditches T-shirt, apologizes for Facebook mistakes

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‘We didn’t take a broad enough view of our responsibility, and that was a big mistake.’

Facebook Inc Chief Executive Mark Zuckerberg swapped his trademark T-shirt and jeans for a dark suit and a purple tie on Monday as he met U.S. lawmakers to apologize for the social network’s misuse of its members’ data and to head off possible regulation.

His apologies precede two days of congressional hearings this week, where Zuckerberg will be asked how 87 million Facebook users’ data was improperly shared with a political consultancy, Cambridge Analytica.

He will also likely face questions about ads and posts placed by Russian operatives, in what U.S. authorities believe was an attempt to influence the U.S. 2016 election.

“We didn’t take a broad enough view of our responsibility, and that was a big mistake,” he said in written remarks released by the U.S. House Energy and Commerce Committee on Monday. “It was my mistake, and I’m sorry.”

If Zuckerberg does not provide satisfactory answers this week, Congress is more likely to push new laws to strictly regulate Facebook. Anticipating such a move, the company has already said it favors new legislation that would make social networks disclose who is behind political ads, much as TV and radio stations must already do.

Tighter regulation of how Facebook uses its members’ data could affect its ability to attract advertising revenue, its lifeblood. Facebook shares closed up 0.5 percent on Monday. They are still down almost 17 percent from highs hit in January, amid a broader tech selloff, partly because of investor concerns about regulation.

Privacy issues

Zuckerberg traversed Capitol Hill on Monday surrounded by police and trailed by packs of reporters ahead of his scheduled appearance before three congressional committees on Tuesday and Wednesday.

Zuckerberg held meetings with the top Republican and Democratic senators on the Commerce and Judiciary committees that will question him on Tuesday in a joint meeting. He faces further grilling from the House Energy and Commerce Committee on Wednesday.

On Monday, he was pictured in one photo showing his mobile device to Senator Bill Nelson, the top Democrat on the Senate Commerce Committee. He did not respond to questions from reporters as he entered and left the building.

Nelson told reporters after the meeting: “The message I wanted to convey to him is that if we don’t rein in the use of social media, none of us are going to have any privacy anymore.”

He met Senator John Thune, the Commerce Committee’s Republican chairman, later in the day. He also met Chuck Grassley, the Senate Judiciary Committee’s Republican chairman, and the leading Democrat on that committee, Dianne Feinstein.

Top of the agenda in this week’s hearings will be Facebook’s dealings with Cambridge Analytica, a London-based company that counts U.S. President Donald Trump’s 2016 campaign among its past clients, or go-betweens. Cambridge Analytica has disputed Facebook’s estimate of the number of affected users.

Lawmakers are also expected to press Zuckerberg closely on the 2016 election, which he anticipated in his written testimony.

“It’s clear now that we didn’t do enough to prevent these tools from being used for harm…” he said. “That goes for fake news, foreign interference in elections, and hate speech, as well as developers and data privacy.”

Zuckerberg’s testimony said the company was “too slow to spot and respond to Russian interference, and we’re working hard to get better.” He vowed to make improvements, adding it would take time, but he was “committed to getting it right.”

Facebook disclosed in September that Russians under fake names had used the social network to try to influence U.S. voters in the months before and after the 2016 election, writing about inflammatory subjects, setting up events and buying ads.

In February, U.S. Special Counsel Robert Mueller charged 13 Russians and three Russian companies with interfering in the election by sowing discord on social media.

The company’s data practices are under investigation by the U.S. Federal Trade Commission.

Online information warfare

Zuckerberg said in his testimony that Facebook’s major investments in security “will significantly impact our profitability going forward.”

Facebook has about 15,000 people working on security and content review, rising to more than 20,000 by the end of 2018, Zuckerberg’s testimony said. “Protecting our community is more important than maximizing our profits,” he said.

As with other Silicon Valley companies, Facebook has been resistant to new laws governing its business, but on Friday it backed proposed legislation requiring social media sites to disclose the identities of buyers of online political campaign ads and introduced a new verification process for people buying “issue” ads, which do not endorse any candidate but have been used to exploit divisive subjects such as gun laws or police shootings.

The steps are designed to deter online information warfare and election meddling that U.S. authorities have accused Russia of pursuing, Zuckerberg said on Friday. Moscow has denied the allegations.

A Facebook official confirmed that the company had hired a team from the law firm WilmerHale and outside consultants to help prepare Zuckerberg for his testimony and how lawmakers may question him.

Source: VnExpress

Vingroup invests $96.5 million to break into pharmacy segment

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After setting foot in the automobile manufacturing industry, Vingroup, the leading real estate group in the country, shows ambitions to jump into the $5.3 billion pharmaceutical sector.

Vingroup has just published on its website that it established Vinfa JSC and will spend VND2.2 trillion ($96.5 million) to develop a pharmaceutical manufacturing and research centre in the northern province of Bac Ninh’s Gia Binh district.

Accordingly, the first priority of the centre is studying and manufacturing oriental medicine remedies of Vietnamese origins to serve the domestic market and exports.

Besides, Vinfa will manufacture healthy food, vaccines, and medical equipment meeting international standards.

In addition, it will co-operate with partners from the US, Europe, and Australia to receive advice, technology, and import drugs to distribute in domestically.

Vinfa’s facility will be equipped with the most modern equipment and manufacturing lines in order to optimise the capacity of the centre as well as ensure product quality.

“Investing in the pharmaceutical manufacturing centre is part of the strategy to expand Vingroup’s operations in the medical sector with the aim of building a better life for Vietnamese people,” said Phan Thu Huong, chairwoman of Vinfa’s Board of Directors.

According to the plan, the centre is expected to come into operation in the third quarter of this year.

Vingroup is not the only enterprise setting foot in the pharmaceutical manufacturing sector.

In March, at FPT’s annual general shareholders’ meeting, Nguyen Bach Diep, chairman of FPT Retail, announced plans to increase the Long Chau pharmaceutical chain to 400 units by 2022 with an annual average of 100 drugstore openings.

In early 2018, electronics retailer Digiworld mapped out its road to conquer the Vietnamese consumer goods market.

Accordingly, Digiworld JSC plans to boost its presence in the healthcare and consumer goods industries this year. The goal for 2018 is to earn at least VND200 billion ($8.78 million) in gross revenue from these two sectors.

The distributor plans to achieve this target by constantly rolling out new offers throughout 2018. Specifically, in the second quarter, Digiworld will introduce a series of children’s healthcare products that are imported from the US.

In December last year, Tran Kinh Doanh, a member of Mobile World Group (MWG)’s Board of Directors, confirmed that the company acquired Phuc An Khang Pharmacy. Later, MWG’s partnership launched a new brand name—An Khang Pharmacy.

Source: VIR

Apple just launched new red iPhones — and they have a design fans have been clamoring for

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  • Apple launched a new color for the iPhone 8 and iPhone 8 Plus on Monday: Red.
  • A portion of the proceeds goes to fight HIV and AIDS.
  • It hits stores on Friday.

Apple launched a new color for the iPhone 8 and iPhone 8 Plus on Monday. Now they come in a metallic red.

Previously, Apple’s iPhone 8 and iPhone 8 Plus models only came in grey, silver, and gold.

The new devices start at $699 for a 64GB iPhone 8. They hit stores on Friday, April 13, and are available for pre-order on Tuesday.

The new iPhones also have one big change over last year’s red iPhone 7: A black front plate, which fans clamored for after last year’s red iPhone 7 model used a white front face.

Apple also launched a new leather iPhone X case in red. It costs $99 and goes on sale tomorrow.

A portion of proceeds from the new red iPhones will go towards grants that fight HIV and AIDS as part of Product Red, which Apple has partnered with since 2006. Apple said it has donated more than $160 million to the charity in a press release.

Check the new goodies out:

Apple
Apple

By Kif Leswing (Business Insider)

What the pho? Vietnam streetfood cocktails make a splash

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With his daring pho cocktail inspired by Vietnam’s signature beef noodle soup, Hanoi’s leading hipster bartender Pham Tien Tiep is hoping to elevate the drinking scene in a city better known for its raucous outdoor beer dens.

Though he leaves the meat out of his version of the national dish, the aromatics remain key ingredients: cinnamon, star anise, cardamom and fresh coriander, plus a generous splash of gin and triple sec for good measure.

The cocktail is a departure for denizens of Vietnam’s capital city, where cheap and cheerful open-air “bia hoi” beer markets reign supreme.
Beer is the beverage of choice for most Vietnamese drinkers, who downed 3.4 billion litres of the cold stuff in 2015 compared to 70 million litres of wine and spirits, according to an EU-Vietnam Business Network report.

“It was a bit hard for me to promote this, to beat the bia hoi or rice wine, but we are making it for a different level, it’s more luxury and more elegant,” Tiep told AFP at his cocktail bar, Ne, tucked away in Hanoi’s Old Quarter.

Tiep’s inspiration for the cocktail was his time working in a pho restaurant as a teenager. (Photo: AFP/James Duong)

He developed the cocktail six years ago while working at the French colonial-era Metropole hotel, inspired by his time working in a pho restaurant as a teenager.

Growing up poor, Tiep said there were days his family could barely afford a bowl of the noodle soup, typically made with beef or chicken, always heavy on herbs and fish sauce, and often slurped streetside.

“My life story belongs to street food because during hard times we didn’t have much money, we just had street food,” said Tiep, 30, wearing a denim and leather apron.

The award-winning bartender never imagined he would one day be slinging US$7 cocktails at his packed bar, a moody, slick spot that wouldn’t be out of place in Brooklyn or Berlin.

Tiep’s customers have mostly welcomed his novel take on the national dish.

“There are a lot of restaurants bringing street food to fine dining, so bringing street food to classic cocktail is … a way to bring street food to something new,” businessman Kien Phan told AFP, sipping on a custom-made drink.

Copycat pho cocktails have turned up on menus across Vietnam. (Photo: AFP/James Duong)

In a sign of Tiep’s success, copycat pho cocktails have turned up on menus across Vietnam, where the upscale bars have taken off in recent years – especially in the bustling southern commercial hub of Ho Chi Minh City.

The cocktail scene is not the only domain to be invaded by the soup’s flavours: pho pizza, pho burrito and even pho ice cream have popped up on menus and foodie blogs around the world.

For his part, Tiep promises to keep pushing boundaries in the beverage world: he’s working on a pickle-flavoured tipple, and already serves a fish sauce-based drink called “Under the Bridge”.

Ne bartender Nguyen Tuan Anh hopes the creative cocktails will further boost the popularity of local food: “Through cocktails, we can promote Vietnamese cuisine around the world.”

Source: AFP

Night market to open in Ly Son Island

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The island district of Lý Sơn, 30km off the coast of Quảng Ngãi Province, will open a night market for tourists on the island in May

Vice chairwoman of the district’s People’s Committee, Phạm Thị Hương said that the night market will be located in front of Mường Thanh Lý Sơn Hotel in An Vĩnh Commune.

Hương said the market, which will run from 6pm until 10,30pm daily, will host 40 pavilions selling souvenirs, dried seafood and specialties of the island as well as an entertainment centre.

She said a lack of night entertainment and shopping service has hampered tourist attraction.

Last year, Lý Sơn Island and An Bình islet hosted more than 200,000 tourists.

The island has 18 hotels, guesthouses and homestays providing accommodation for 1,000 tourists at present.

The islanders of Lý Sơn offer local cuisine and garlic and onion farming experiences for tourists during a sea trip from Sa Kỳ port in summer.

 

Islanders harvest onions on Lý Sơn island, off the coast of Quảng Ngãi Province

Lý Sơn and a vast coastal area of Bình Sơn District are being considered as a site for a Global Geo-Park for approval by UNESCO.

It has been well-known as the ‘King of Garlic’ in Vietnam with 21,000 inhabitants, most of whom make their living from farming garlic and spring onions and fishing.

The islands and a vast coastal area of Bình Sơn District may receive Global Geo-Park recognition from UNESCO.

According to archaeologists, Lý Sơn Island is a dormant volcano. The terrain of the island was created from eruptions 25 to 30 million years ago, leaving landscapes with rocks, caves, cliffs, rock arches and a lake.

The island has abundant relics related to the Sa Huỳnh, Champa and Đại Việt (or Great Việt) cultures that existed on the island for thousands of years.

Islanders still preserve the annual Hoàng Sa festival to pay tributes to local men who enlisted in the Hoàng Sa flotilla hundreds of years ago.

The flotilla was set up under the Nguyễn dynasty to patrol the Hoàng Sa (Paracel) and Trường Sa (Spratly) archipelagos and salvage goods from the many wrecks, catch fish and maintain a Vietnamese presence over the area.

The festival, which includes a requiem for those who had died on the sea patrol missions, a procession of four supernatural creatures and the release of lanterns, has been recognised as the National Intangible Heritage.

Source: Dtinews

Happy hour – Vietnamese style

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If you drop into a bar after work in the Western world, most patrons unwind while quietly sipping a drink over subdued conversations with soft music in the background.

I was wandering around central Da Nang early one evening and heard a huge racket coming from a shop – someone won big in the lottery, family squabble, or a crime underway? It was really loud, then I could also hear a lot of clinking bottles and shouting, so as I turned the corner and the shop came into view I realized it was a bar!

Bullseye! Just what I was looking for!

If you drop into a bar after work in the Western world, most patrons unwind while quietly sipping a drink over subdued conversations with soft music in the background.

In Vietnam, the end of the afternoon atmosphere in a local bar is more like a hotly contested football match or a scene from a back room gambling den out of the movies. It’s hopping in all directions!

The customers laugh and roar, hollering out orders to the service crew on the fly. “Hey, bring us some ice and another plate of cold cuts!” The servers sprint around balancing all the orders and serving in record time, not a precious moment to spare.

The clientele was all men – in groups except for me. Sometimes I’ve visited with a local buddy or two but usually alone. Ironically, it’s where I do my best reflecting on life despite the noise and distractions. Also, if I go alone I always meet lots of people – or, better said – lots of people meet me.

The patrons are excited to be out of work with the gang, but also need to get home early, so they drink at a hearty pace and the noise level increased with every passing round of beer.

They usually order beer by the box of 24. Why bother fooling around with a few bottles at a time?

There is no menu or price list posted anywhere, but everyone knows what’s offered and at which price. There is no music nor television, and hardly anyone is looking at a smartphone. Occasionally a phone rings and someone jumps up from a table and sprints into the street away from the din, possibly to offer excuses: “Still working on that report honey, be home soon!”

Most of the staff are on consignment from a local beer company – several young women buzzing around in green uniforms, adding ice cubes to keep the beer chilled, serving food, and schlepping around those boxes of 24.

The patrons are seated in tiny plastic chairs at low tables, like little children in school. At first it seemed odd, but it creates an aura of intimacy and friendship because everyone is clustered around the low-slung table.

Those tiny plastic chairs look innocent enough but can be dangerous, particularly for oversized Westerners like me. One time I leaned back to get something out of my pocket and the rear legs collapsed in an instant – beer bottle catapulted in one direction, glass in another, plate of food yet another, and I ended up on the floor.

Customers and staff rushed over to pick me up off the floor and asked if I was OK. It sure is an easy way to meet new people and never be forgotten! They wanted to call an ambulance until I convinced them all I needed was a replacement for the beer.

I learned a lesson that day and since then put one chair on top of another so I get a double layer of stability.

Random people wander in and out: a cigarette promotion girl wearing a hairband shaped like bunny rabbit ears, several lottery vendors, then a snack vendor toting a basket who gets scolded by the bar owner. He doesn’t like competition in his place.

Featured food includes black preserved eggs, known locally as “bách nhật trứng” (100-day eggs) served with pickled onions, dried shrimp, and spicy chili peppers. The egg comes out smooth, a bit chewy, and rich, perfectly complementing the flavour of beer.

Another favourite is “mực khô,” dried octopus cut into strips. The mực khô stinks up the whole place with an aroma of fish sauce while being heated but don’t let that put you off. It’s about the same texture as a rubber tire, but it’s just right with some chili sauce, so don’t let that put you off either. Just be prepared for extensive gnawing and chewing – if you’re short of time best to skip the mực khô because it’s a long battle to get through it.

The most popular snack served is a plate of cured meats and fermented pork sausage meticulously wrapped and folded in banana leaves and served with raw garlic and a pepper/salt mix. It’s called “nem chua” – sour, pungent, spicy, and therefore delicious with a beer. Beats salted peanuts or chips every time.

And that’s when it usually happens: I order the nem chua, squeeze the head of garlic in my fist, then peel the first garlic toe and pop it in my mouth. By the time I unravel the nem chua from the banana leaves, dip it in the salt and pepper and bite off a chunk, a local has appeared by my side.

Nearby customers are watching me out of the corner of their eyes – very discreetly – but I can feel their glances, my senses now trained.

Is that white guy really going to eat the nem chua?

Damn right I do, as well as the raw garlic, just for good measure.

The customers are business people for the most part, so they’ve learned English in school, but maybe not had many chances to practice. Da Nang is still provincial so there are not that many Westerners in the city center, and practically none that go to the local Happy Hour Beer joints, so it’s a great opportunity to make contact.

This time a man pulled his chair up very close to mine and sat down, then out came the phone equipped with translation software, and away we went. The conversation was spirited yet choppy to say the least, but neither of us cared, it was fun to meet and make contact.

Many of these locals have never been outside Vietnam because international tourism is expensive for the average person, so they are doubly curious about life abroad.

The local man’s eyes widened as I explained that I’ve travelled extensively and lived in many parts of the world, and I see Vietnam is going great places and enjoying increased attention as a destination.

He looked at me in disbelief when I tell him the problem will be that Vietnam will become very popular so the challenge in the future will be to find new and interesting places to visit that are not overrun with foreign tourists. Domestic tourism has also skyrocketed as the living standard constantly inches up in Vietnam.

That’s just what he wanted to hear but I’m not sure he really understood all that progress comes at a cost, there will be pressure on infrastructure, services, and prices as time goes on.

I rhymed off a couple of meaningful statistics such as international tourist arrivals, which were up 25% in 2016 over 2015, and closer to 30% this past year over 2016.

At that rate, they’ll be 20 million foreign visitors annually in just a couple of years.

Things will change in a very big way in Vietnam – there is no way to avoid it if the number of visitors triples within the span of a few short years.

It’s naive to think that things won’t change because there is no way around it, but some traditions don’t die.

I’m quite sure we’ll still be able to enjoy nem chua and a cold beer in those little Happy Hour places in the coming years no matter how much Vietnamese tourism grows.

Where else would all the guys go?

Source: Rick Ellis

Age no barrier to organic farming ambition in Vietnam’s Hoi An

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For many visitors to Tra Que Village, meeting its oldest living couple is a real privilege.

It is not because they rarely come out of their little house near a lagoon – they always show up when tourists stop at their vegetable farm. Rather, both of them are so old it is hard to believe they are still incredibly fit and astonishingly mobile.
Le Van So, 94, is a petite man with long white beard and short grey hair. His wife Nguyen Thi Loi, 88, is a smiley, lean-framed woman with no teeth.

Le Van So, 94, poses with his wife Nguyen Thi Loi, 88, inside their house in Tra Que, a small village on the edge of Hoi An that is known for its organic vegetables. (Photo: Pichayada Promchertchoo)

They are probably the most popular couple in this small suburban neighbourhood on the banks of De Vong River, if not in the whole city of Hoi An where their portraits can be found on the walls of local restaurants.

Every day Le Van So and Nguyen Thi Loi wear their ‘non-la’ – Vietnamese conical hats – and brave the sun to show eager tourists around their manicured vegetable farm with unflagging energy. Both of them enjoy posing for selfies with visitors, whose presence makes them beam with pride over their produce – a diverse selection of aromatic herbs and fresh green vegetables grown without chemicals for restaurants in the city.

Le Van So, 94, and wife Nguyen Thi Loi, 88, pose for photographs in front of their vegetable farm in Tra Que Village. (Photo: Pichayada Promchertchoo)

 

Nguyen Thi Loi and her husband owns an organic vegetable farm in Tra Que Village, a popular tourist attraction on the edge of Hoi An. (Photo: Pichayada Promchertchoo)

“The vegetables from Tra Que Village taste better than those from other areas,” Le Van So said, while resting on a long wooden armchair next to his wife in their living room. Framed photographs of them laughing and smiling at each other hang on the walls.
“Our village is rich with alluvial soil. That’s why our vegetables are delicious.”

 

Tra Que Village is known for its high-quality, chemical-free vegetables. A lot of its produce is used in restaurants and households across Hoi An. (Photo: Pichayada Promchertchoo)

Born to a family of farmers in Tra Que, Le Van So started farming at the age of 10. Like other villagers, he uses a kind of seaweed found in the river and lagoon to fertilise his vegetable beds.

According to the 94-year-old, the seaweed manure gives Tra Que’s vegetables richer aroma and a more distinctive taste compared to those grown elsewhere. Farmers use the seaweed all year round, mixing it with the soil and planting vegetables on top.
“Vegetables from Tra Que Village are the best and our farms are very popular among tourists,” Le Van So said. “Locals’ lives have also improved a lot.”

However, Le Van So and other residents of Tra Que Village did not take up organic vegetable farming until about 20 years ago, when the Vietnamese government redesigned the local landscape for community tourism.

From a rough terrain full of wells and ponds, the area was levelled and distributed to local residents who wanted to participate in the programme. Many families shifted their focus from rice cultivation to organic vegetable farming, which gradually grew into a popular tourist attraction in Hoi An.

An organic vegetable farm in Tra Que Village. (Photo: Pichayada Promchertchoo)

The village is located about three kilometres away from Hoi An’s city centre and can be accessed by bicycles. Here, visitors can try their hand at farming in a traditional way with local families, take part in cooking classes using organic vegetables from the gardens or simply take a stroll around the cultivation area.

Since its introduction in 2000, community tourism has transformed not only the life of many residents of Tra Que but also their farming method.

Villagers in Tra Que only use natural products in their vegetable cultivation, including seaweed harvested from the river and lagoon. (Photo: Pichayada Promchertchoo)

“We started using the seaweed as natural fertiliser instead of chemicals. Instead of using chemical pesticides, we spray our vegetables with natural products such as ginger, chili and garlic,” said farmer-turned-restaurant owner Le Van Bay.
“Thanks to the community tourism, vegetables here have become more valuable than before.”

Besides organic farming, the government-backed tourism programme has also brought the residents of Tra Que new business opportunities.

Nguyen Thi Loi in her organic vegetable farm. (Photo: Pichayada Promchertchoo)

Le Van Bay’s restaurant is one of some 30 eateries that has cropped up in the village over the past two decades. He cooperates with tour agencies and welcomes up to 60 customers on a daily basis. Besides serving them organic Vietnamese food, he also offers a cooking class and foot massage with local herbs.
Income from selling organic vegetables and other tourism businesses has sent his four children to school and ridded his family of poverty.

“Life used to be so tough for us. Now, we’re much better off,” he said.

Across the road, a group of foreign tourists and their Vietnamese tour guide have just arrived at the old couple’s farm.

Le Van So and his wife pose for a selfie with a tourist. (Photo: Pichayada Promchertchoo)

Spotting the visitors from their living room, Le Van So and Nguyen Thi quickly grab their hats and shuffle outside to greet their guests.

“You’re all very lucky today,” the tour guide said with a big smile on his face. “You get to meet the oldest living couple of Tra Que Village.”

Standing in front of their beautiful vegetable garden, the elderly couple’s faces crease into cheerful smiles as they get ready for selfies with the tourists.

- ChannelNewsAsia

Vingroup enters pharmaceutical industry with Vinfa

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Conglomerate Vingroup has announced its entry into the pharmaceutical industry with its Vinfa brand.

Along with pharmaceutical research, manufacturing, trading and export-import tasks, Vinfa will focus on the preservation, research and development of traditional Oriental medicines with origins in Vietnamese herbs.

Following the success of the Vinmec Medical System and realising the expansion plan in the healthcare sector, Vingroup has established Vinfa Joint Stock Company in the pharmaceutical business, along with an investment to build Vinfa Drug Research and Production Centre in Gia Bình District, Bắc Ninh Province. With a total investment of VNĐ2.2 trillion (US$97.7 million), the project’s first phase will be built in an area of nearly 10ha following international standards, including research, production, logistics and support works, according to Phan Thu Hương, chairman of the Vinfa’s Board of Directors.

With investment from Vingroup, the entire production process at Vinfa will be equipped with the latest and advanced technologies to optimise the efficiency and quality of pharmaceutical products.
The objective of the Vinfa Drug Research and Production Centre is to produce and sell good-quality Oriental and Western medicines to serve the domestic and export markets.

Vinfa will also focus on the production of health food, vaccines and medical equipment of international standards to better meet the high demand for healthcare and treatment of people.
In addition to exploiting the country’s precious herbal resources, Vinfa plans to promote co-operation with prestigious pharmaceutical production industries from the United States, Europe and Australia. The aim is to receive consultancy, technology and technical expertise as well as facilitate the import of raw materials and products.

The group says the operation and quality-control process at Vinfa will have three core criteria: best-quality products, highly skilled and dedicated staff and striving towards professionalism.
“The investment in the pharmaceutical production plant is considered a new step forward for Vingroup’s strategy of expansion in the healthcare sector to realise the mission of ‘Better Life for the Vietnamese’. Through Vinfa, we want to research, produce, import and export the best-quality products while preserving and developing precious medicinal herbs and traditional medicines of the country,” said Hương.

Construction of the drug research centre is scheduled to begin in the third quarter of 2018.

Box:
According to the World Health Organisation (WHO), more than 80 per cent of the world’s population use traditional medicine, especially herbal products, including developed countries. In Việt Nam, medicines from local herbal plants account for at least 30 per cent. The country has nearly 4,000 of more than 12,000 flora species, many of which are considered rare, such as Ngọc Linh ginseng, Vũ Diệp ginseng, Hoàng Liên Sơn Panax pseudoginseng.

However, despite its abundant source of medicinal herbs, Việt Nam is still in the group of 17 countries that have a developing pharmaceutical industry (pharmerging countries), with nearly 55 per cent of the country’s drug demand being met by imports. Việt Nam especially has to import large quantities of specific drugs that are patented and costly.

In 2016 alone, Việt Nam imported some US$2.5 billion worth of pharmaceutical products, with nearly $200 million worth being imported from France, Germany and the United States.
(According to a report of the Vietnam Industry Research and Consultancy Joint Stock Company).

- Vietnamnews

Investors happy about new cut in corporate income tax

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The stock market has shown positive reactions to the disclosure of the government’s intention to slash the corporate income tax (CIT) from 20-22 percent to 15-17 percent.

Prime Minister Nguyen Xuan Phuc made the announcement at a recent event, saying the move will help make Vietnam one of the most competitive economies in the region.
However, details about the cut are still unclear.  The HCM City Securities Company (HSC), in its latest report, commented that small and medium enterprises (SMEs) could be the first beneficiaries, recalling a series of ministries’ moves in the past.

Phuc’s announcement coincides with information that the Ministry of Finance (MOF) in August 2017 suggested slashing the CIT rate to 15 percent for micro enterprises and 17 percent for SMEs.
Micro enterprises have annual turnover of less than VND3 billion.
SMEs refer to enterprises with no more than 200 workers with an insurance policy and annual revenue of VND3-50 billion.

The draft decision on tax reduction compiled by MOF says that the preferential CIT rates of 15-17 percent will not be applied to businesses organized under the parent-subsidiary model in which holding companies hold 25 percent or more shares of subsidiaries.

The draft decision on tax reduction compiled by MOF says that the preferential CIT rates of 15-17 percent will not be applied to businesses organized under the parent-subsidiary model in which holding companies hold 25 percent or more shares of subsidiaries.

HSC believes that the tax reduction will not have a big impact on the tax collections, but will bring significant economic benefits.

HSC says SMEs account for 95-97 percent of total number of registered businesses, but the SMEs with revenue of less than VND50 billion only pay VND7 trillion in CIT annually.

The figure is equal to 3.5 percent of total revenue from CIT collections and 0.8 percent of total revenue from tax collections.

The stock market bounced back after the announcement as investors hope large corporations will also enjoy the tax reduction.

“Investors do not question the sphere of tax adjustment, believing that sooner or later, it will be applied to all kinds of businesses,” HSC commented.

Nguyen Duc Thanh, general director of Tanimexco, said businesses will have more capital for re-investment, and will be able to reduce the number of loans.

Tanimexco has to pay VND10 billion in CIT a year, and if the company has a 15-17 percent CIT rate, it would save VND2-3 billion a year.

Nguyen Tri Hieu, a finance expert, commented that the tax reduction, if applied only to SMEs, will be significant. He thinks it would be better to apply to all businesses, including large corporations.

- Vietnamnet

​Ho Chi Minh City clients accuse California fitness center of fraud

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A California fitness center in District 7, Ho Chi Minh City is being accused of fraud by selling years-long membership despite knowing its locations would be closed after April.

Hundreds of clients who have paid large sums for membership ranging from five years to a lifetime in duration are being asked to train at a different location, much to their displeasure.

The Cali Centuryon Central, located at the Crescent Plaza building on Ton Dat Tien Street in District 7, is among the most modernly equipped locations of the fitness and yoga franchise.

A big loss

Nguyen Thi Tram Anh, a resident in District 7, said she had bought a lifetime California membership at Cali Centuryon Central for VND215 million (US$9,460).

Inside the California fitness center at the Crescent Plaza building in District 7, Ho Chi Minh City. Photo: California Fitness and Yoga

In addition to the initial payment, she is subject to a yearly fee of VND5.6 million ($246) to maintain her membership card.

Anh also paid for a personal trainer with whom she still has 104 outstanding training sessions, worth around VND50 million ($2,200).

She was therefore frustrated to be given only a month’s notice about the center’s closure at the end of April, and that members like her would have to train at a different location in the California franchise.

“I paid for membership at this gym because it is only a short walk away from my house,” Anh said.

“If I’m forced to train in a different district, I won’t go because it is too far.”

According to another member Pham Thu Ha, the fitness center had made no mention of their upcoming closure when persuading her to buy a five-year membership just recently.

“If they cannot keep the current location in operation, they have to make a refund,” Anh said.

“They have no right to force us to train at a different location.”

Membership at Cali Centuryon Central can cost 3-5 times more than in other locations of the California fitness and yoga club due to its better equipment, infrastructure and service, Anh explained.

In total, Anh estimates that there are around 500 members who have paid to train at the location for five years or longer, not to mention many other short-term members, who would be affected by the gym’s closure.

End of tenancy

Randy Dobson (wearing a suit), chairman of CMG, addresses a crowd of California fitness and yoga club members during a dialogue about the closure of its location at the Crescent Plaza building in District 7, Ho Chi Minh City. Photo: Tuoi Tre

CMG, which operates California centers in Vietnam, will have its lease for the Crescent Plaza location terminated after April 30 as it has failed to secure another lease term.

Despite having received a letter from their landlord confirming this termination on March 21, CMG continued to sell memberships of five years, ten years or even a lifetime of training at Cali Centuryon Central to unknowing clients after the date.

“How is it any different from a fraud?” said Bui Thi Thanh Huong, a California member who is calling for signatures on a petition demanding that the company explain their wrongdoing.

Her petition has received over 200 signatures from fellow gym goers, but no response from CMG has been made.

Meanwhile, a CMG representative told Tuoi Tre (Youth) newspaper that an official written response will be sent to its members on Monday, and that it would do its best to protect clients’ rights.

The representative explained that the company did not inform its members of the closure earlier because it was “confident” the lease could be negotiated for extension.

“New members who recently entered into contracts with us will be considered for a refund,” the representative said.

A quirky cafe for unconventional people

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Chill out and be yourself at this chaotic space in southern Vietnam.

The Merriam-Webster dictionary defines the word “bohemian” as “a person (such as a writer or an artist) living an unconventional life usually in a colony with others.”

Bohemians do not want to conform to any establishment of political or social viewpoints. Often thought of as outsiders, Bohemians just want to be treated as creative individuals who lead free and unorthodox lives.

This philosophy has been successfully adopted at a café named Bohémiens in the port city of Vung Tau, southern Vietnam. The coffee shop’s chaotic artistic design full of irrelevant elements offers an escape for those who want a place where they can fit in, just the way they are.


The shop captures people’s attention with colorful graffiti, different sized chairs and plants growing out of old tires.

The limited space is filled with paintings, pictures and repainted window shutters.

The balcony offers a relaxing atmosphere with green plants enjoying the sunlight.

The second floor is painted yellow and customers can sit on Japanese-style mats around small tables.

The room is filled with items that bring a feeling of nostalgia such as an old sewing machine, an old TV and weighing scales often used by street vendors.

An old transformer also makes up part of the decor.

Bohémiens cafe offer drinks at affordable prices starting from VND15,000 ($0.6).

Source: Ha Thanh

Facebook corners global advertising by selling user data?

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Through their user data business, Facebook and Google in 2017 embraced a quarter of the $100-billion global online advertising market, according to statistics of data analytics company Experian.

Facebook’s algorithms can draw up an accurate picture of billions of people’s hobbies and consumption habits. This also helps Facebook attract a huge number of businesses to advertise on the platform.

With an average of 68 “likes” per user, Facebook can easily tell users’ political orientations and hobbies, and 150 “likes” are apparently enough for Facebook to understand users’ personality better than their parents. Furthermore, with over 300 “likes,” Facebook knows users better than their partners, according to the investigation of US-based Vice Media LLC, a company specialised in digital media and broadcasting.

“Facebook is free, but we have to pay with our own information,” said Viviane Reding, member of the European Parliament.

In Vietnam, the public trading of Facebook user data is nothing new, especially since Facebook has become popular in the country.

Vietnam is the ninth hardest hit country by the Facebook data leak scandal

All Vietnamese users’ information is commonly up for sale on webpages and forums for advertising and marketing products.

According to Facebook’s latest announcement, Vietnam remains the ninth country in terms of the number of users’ data leaked, with nearly 430,000 users.

In addition, the total number of people’s personal information leak in the recent Facebook scandal hit 87 million, with the US in the lead with over 70 million people.

Source: VIR

Shinhan Bank Vietnam announces 2018 brand ambassadors

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Korean-backed Shinhan Bank Vietnam Ltd. today announced coach Park Hang Seo and U23 captain, Luong Xuan Truong to be the brand ambassadors of Shinhan Bank in 2018.

After U23 Vietnam’s excellent performance in the recent Asian Football Confederation (AFC) U23 Champions Finale, coach Park Hang Seo and Luong Xuan Truong have become the icons of inspiration, evoking the determination to follow the passion and dreams in Vietnamese football fans.

Having coach Park Hang Seo and Luong Xuan Truong as its brand ambassadors, Shinhan Bank wishes to continue spreading this positive attitude for life “Dare to set big goals and be committed till the very end, your efforts will be paid off. Shinhan Bank commits to accompany the valued customers in the journey to achieve their next big goals”.

That is the underlying message Shinhan Bank would like to deliver to its customers through this campaign.

Korean coach Park Hang Seo has led the National Football Team, U23 Football Team and Vietnam National Olympic Team since October 2017.

He was highly respected for his tactical skills and talent ability in using players smartly on the field. This was significant contribution to bringing U23 Vietnam the glorious runner-up position in AFC Cup after just three months taking the role as a coach.

Coach Park Hang Seo also receives overflowing love and admiration from the media and football lovers in Vietnam for his resolute leadership on the field but open and friendly style in everyday life.

Being a valued and loyal customer of Shinhan Bank in Korea, coach Park Hang Seo now is very eager with his new role with Shinhan Bank Vietnam.

He shared, “To me, Shinhan Bank is not only a reliable financial partner from Korea, but also a hometown fellow who accompanies me in many of my activities in Vietnam. Taking the role as the brand ambassador for Shinhan Bank, I hope to promote the Korean values and positive inspirations to the Vietnamese people.”

Together with the miraculous achievement of U23 Vietnam, Luong Xuan Truong also left strong impression as a capable captain with immense talents and consistent performance.

His audacious fighting spirit and determination have become “catalysts” that inspire the historic and captivating performance of U23 Vietnam.

Coming from Hoang Anh Gia Lai – Arsenal Football Academy (JMC), and having two years playing for Incheon United and Gangwon Football Club in Korea, Xuan Truong has embraced a bold playing style with discipline and positive attitude to face challenges head on.

In his role as the brand ambassador of Shinhan Bank for two consecutive years, Xuan Truong wishes to inspire Shinhan’s young customers to have determination and commitment to achieve their big goals in life.

“As a leading bank in Korea, Shinhan Bank is an entrusted banker for our strong, transparent and reliable financial strength; as well as our constant efforts to improve the banking quality,” said Shinhan Bank Vietnam CEO Shin Dong Min. “Meanwhile, coach Park Hang Seo and captain Luong Xuan Truong are highly respected by Vietnamese football lovers for their fighting spirit and strong commitment for their big goals, which inspire and create a solid foundation for the team to make their historic achievement. These are the common values that connect us in this collaboration.”

Together with choosing brand ambassadors to inspire positive lifestyle for the customers, Shinhan Bank is constantly striving to launch new financial products and services, as well as expand its existing network in Vietnam to serve customers even better.

Within April 2018, Shinhan Bank has launched simultaneously four new branches and transaction offices in Ho Chi Minh City and Hanoi, bringing the total number of branches and transaction offices to 30 across the country.

Source: VIR

Ministries disagree on solutions to collect tax from Google, Facebook

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The Ministry of Finance (MOF) wants the State Bank of Vietnam (SBV) to instruct commercial banks to withhold taxes from transactions with Facebook and Google, but SBV said it is not authorized to do so.

MOF has vowed to collect tax from Google’s and Facebook’s earnings in Vietnam, and is drafting a regulation on tax management over e-commerce activities.

Under the draft regulation, cross-border services must make payments via the national payment portal NAPAS. This will allow taxation agencies to control revenue from services to collect taxes.

The tax payments will be carried out under the withholding mode. Tax amounts will be deducted from revenue when making payments via NAPAS.

SBV’s Governor Le Minh Hung said MOF has the legal right to issue regulations, guide tax declarations, and report and collect tax. SBV doesn’t have the right or skills in this field.

Under current laws, credit institutions can deduct customers’ money only if they have consent from customers or receive instructions from agencies, he said.

MOF needs to release legal documents with detailed guidance on the issue, he added.

Lawyer Truong Thanh Duc believes that MOF’s idea is a good solution allowing it to collect tax from Facebook and Google, which remains an impossible mission at this time.

However, Duc said that MOF would try to differentiate the nature of payment transactions via banks.

In many cases, payments are made for goods purchases, not for ads on Google and Facebook. If the nature of the transactions cannot be clarified, this will lead to overlapping taxation.

Lawyer Tran Xoa from Minh Dang Quang Law Firm, said that it is not feasible to ask banks to deduct money from customers’ accounts when making cross-border transactions.

If remitting money via banks, individuals will have to prove the legal purposes of the transactions. But internet banking remittances via cards to pay for goods and services have no limit.

No official report about the amount of taxes that Google and Facebook have evaded in Vietnam exists, but experts say it is huge.

Deputy PM Vu Duc Dam cited official reports as saying that 67 percent of Vietnamese use the internet, with 60 percent using social networks.

Foreign social networks account for 95 percent of market share, search engines 98 percent and e-commerce 80 percent.

The revenue from ads that foreign companies, especially Facebook and YouTube, can collect is estimated to amount to 80 percent of total revenue. In 2017, they earned $320 million from the service.

Source: VNN

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